MIRA
INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHINA NATIONAL MATERIALS INDUSTRY IMPORT & EXPORT CORPORATION |
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Registered Office : |
7f, Keyuan Building (B), No. 105a, North Road Of Xisanhuan
Haidian District, Beijing 100048 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.02.1989 |
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Com. Reg. No.: |
100000000038769 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Importing and exporting non-metal mineral products, machinery equipment, building materials, chemical products, etc |
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No. of Employees : |
64 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 600,000 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
CHINA NATIONAL MATERIALS INDUSTRY IMPORT & EXPORT CORPORATION
7F, KEYUAN BUILDING (B), NO.
HAIDIAN DISTRICT, BEIJING 100048 PR CHINA
TEL: 86 (0) 10-68710737/68710729
FAX: 86 (0) 10-68710718/68726191
EXECUTIVE SUMMARY
Date of Registration : FEBRUARY 28, 1989
REGISTRATION NO. : 100000000038769
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL : cny 50,000,000
staff :
64
BUSINESS CATEGORY : trading
Revenue :
CNY 1,187,279,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 59,083,000 (AS OF DEC. 31, 2010)
WEBSITE : www.sinoma.cc
E-MAIL :
info@sinoma.cc
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 600,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.34 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as one-person limited liabilities company of PRC with State Administration for
Industry & Commerce (SAIC) under registration No.: 100000000038769.
SC’s Organization Code Certificate No.:
19220724-0
SC’s registered capital: CNY 50,000,000
SC’s paid-in capital: CNY 50,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
2008 |
Chinese Company Name |
中国材料工业科工进出口有限公司 |
中国中材进出口有限公司 |
***Note: SC’s English name remains same.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China National Materials Group Corporation |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Han Ruiming |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China National Materials Group Corporation 100
*China National Materials Group Corporation
=================================
China National Materials Group Corporation
(SINOMA), established in 1983, a central government-administered enterprise
directly under the administration of State-owed Assets Supervision and
Administration Commission of the State Council, is the only enterprise that
possesses a series of core technologies and complete innovation system in
non-metal materials industry of China and integrates the manufacturing,
scientific research and design of non-metal materials and products, project
engineering and construction, equipment manufacturing as well as international
trade. The Group has been listed among the China Top 500 enterprises for
successive years.
Registration No.: 100000000003609
Date of Registration: November 16, 1983
Legal Form: Sole State-owned Enterprise
Registered Capital: 1,887,470,000
Legal Representative: Tan Zhongming
Address: 11 Beishuncheng Street,
Xizhimennei, Xicheng District, Beijing 100035, PR China
Post: 100035
Tel: 86 (0) 10-82228829
Fax: 86 (0) 10-82229222
Web: http://www.sinoma.cn
E-mail: sinoma.icm@sinoma.cn
MANAGEMENT
Han Ruiming, Legal
Representative, Chairman, and General Manager
------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman,
and general manager
BUSINESS OPERATION
SC’s registered business scope includes importing and
exporting non-metal mineral products, machinery equipment, heavy oil;
technology developing, manufacturing and selling building materials and other
non-metal mineral products; international forwarding; technology development,
technology transfer, technology consultation, and technology services.
SC is mainly
engaged in importing and exporting non-metal mineral products, machinery
equipment, building materials, chemical products, etc.
The products
mainly include: Non-Metallic Minerals and Products, GCL, Glass Fiber, FRP,
Friction Materials, Sealing Materials, Electrical Insulation Materials,
Fertilizer and Other Chemical Products, Stone Products, Etc.
SC sources its materials 50% from domestic
market, and 50% from overseas market. SC sells 50% of its products in domestic
market, and 50% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 64 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have
the following branch and subsidiary,
n
China National Materials Industry Import &
Export Corporation Shenzhen Branch
Address:
P.O.Box 154 Rm 3311, 33/F International Trade Centre, Shenzhen City, Guangdong
Prov., PRC
Post
Code: 518014
Tel:
0086-755-82211524
Fax: 0086-755-82211316
E-mail: cnmc@szonline.net
n
Non-Metals, Inc.
Address:
1870 West Prince Road, Suite 67, Tucson, AZ85705, USA
Tel:
001-520-690-0966
Fax:001-520-690-0396
E-mail: tradefor_AZ@yahoo.com
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience (through current enquiry with SC's suppliers),
our delinquent payment records and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
BANKING
Basic Bank:
Agricultural Bank of China
AC#:
050301040015365
FINANCIALS
Consolidated Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
10,210 |
19,040 |
|
|
Notes receivable |
0 |
1,220 |
|
Accounts
receivable |
38,280 |
27,400 |
|
Advances to
suppliers |
53,020 |
66,530 |
|
Other receivable |
170 |
1,640 |
|
Inventory |
4,850 |
4,990 |
|
A receivable tax
rebate of export |
2,070 |
1,590 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
0 |
20 |
|
|
------------------ |
------------------ |
|
Current assets |
108,600 |
122,430 |
|
Long-term
investment |
0 |
3,530 |
|
Fixed assets |
780 |
540 |
|
Construction in
progress |
0 |
0 |
|
Intangible
assets |
0 |
0 |
|
Long-term
prepaid expenses |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total assets |
109,380 |
126,500 |
|
|
============= |
============= |
|
Short-term loans |
0 |
35,000 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
33,020 |
5,310 |
|
Wages payable |
440 |
0 |
|
Welfares payable |
0 |
0 |
|
Taxes payable |
1,360 |
220 |
|
Interest payable |
0 |
0 |
|
Advances from
clients |
19,000 |
28,160 |
|
Other payable |
100 |
70 |
|
Other unpaid
expenses |
0 |
0 |
|
Drawing expense
in advance |
0 |
0 |
|
Other current
liabilities |
0 |
10 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
53,920 |
68,770 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
53,920 |
68,770 |
|
Equities |
55,460 |
57,730 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
109,380 |
126,500 |
|
|
============= |
============= |
Consolidated Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2009 |
|
Revenue |
737,650 |
|
Cost of sales |
717,720 |
|
Taxes and additional of main operation |
220 |
|
Sales expense |
7,160 |
|
Management expense |
11,130 |
|
Finance expense |
-1,400 |
|
Investment
income |
230 |
|
Non-operating expense |
60 |
|
Profit before
tax |
2,990 |
|
Less: profit tax |
710 |
|
2,280 |
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
Long term investment |
11,737 |
|
Total assets |
165,467 |
|
|
------------- |
|
Long term liabilities |
0 |
|
Total
liabilities |
106,384 |
|
Equities |
59,083 |
|
|
------------- |
|
Revenue |
1,187,279 |
|
Profit before
tax |
2,224 |
|
Less: profit tax |
554 |
|
Profits |
1,670 |
Note: The detailed financials for Y2010 are not available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
2.01 |
1.78 |
-- |
|
*Quick ratio |
1.92 |
1.71 |
-- |
|
*Liabilities
to assets |
0.49 |
0.54 |
0.64 |
|
*Net profit
margin (%) |
-- |
0.31 |
0.14 |
|
*Return on
total assets (%) |
-- |
1.80 |
1.01 |
|
*Inventory /
Revenue ×365 |
-- |
3 days |
-- |
|
*Accounts
receivable/ Revenue ×365 |
-- |
14 days |
-- |
|
*
Revenue/Total assets |
-- |
5.83 |
7.18 |
|
* Cost of
sales / Revenue |
-- |
0.97 |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears fairly good in its line,
and it increased significantly in 2010.
l
SC’s net profit margin is average in 2009 and 2010
l
SC’s return on total assets is average in 2009 and
2010.
l
SC’s cost of goods sold is high, comparing with its
revenue in 2009.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fairly
good level in 2008 and 2009.
l
SC’s quick ratio is maintained in a fairly good
level in 2008 and 2009.
l
The inventory of SC appears average in 2009.
l
The accounts receivable of SC is maintained in an
average level in 2009.
l
The short-term loans of SC appear average in 2009.
l
SC’s revenue is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is average in three years.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC
is considered medium-sized in its line with stable financial conditions. A
credit line up to USD 600,000 would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.