MIRA INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
DALIAN KONFORM TECHNICAL CO., LTD. |
|
|
|
|
Registered Office : |
No. 1, Youquan Road, Zhanqian Street, Jinzhou District, Dalian,
Liaoning Province 116100 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
12.01.2004 |
|
|
|
|
Com. Reg. No.: |
210231000018362 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
researching, Developing, Manufacturing and Selling machinery equipment. |
|
|
|
|
No. of Employees
: |
210 persons |
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 1,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
DALIAN KONFORM TECHNICAL CO., LTD.
NO. 1, YOUQUAN ROAD, ZHANQIAN STREET, JINZHOU
DISTRICT,
DALIAN, LIAONING PROVINCE 116100 PR CHINA
TEL: 86 (0) 411-87663638/87662687 FAX: 86 (0) 411-87660092
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 12, 2004
REGISTRATION NO. : 210231000018362
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
210
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
R&D, MANUFACTURING
TURNOVER :
CNY 179,430,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 156,020,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 1,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.33= USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a Limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on Jan. 12, 2004.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s
registered business scope includes electromechanical equipment; developing
computer hardware & software; technical transfer, technical advisory, technical
service; processing machinery equipment and parts; domestic trade; importing
and exporting commodities and technologies. (with permit if needed)
SC is mainly
engaged in researching, developing, manufacturing and selling machinery
equipment.
Mr. Song Baoyun is
legal representative and chairman of SC at present.
SC is known to
have approx. 210 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in Dalian. Our
checks reveal that SC owns the total premise about 6,000 square meters.
http://www.konform.cn/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: songby@konform.cn
SC has got CE Certificate.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Song Baoyun 29.75
Fan Zhixin 9.35
Liu Yuanwen 9.35
Dai Huanhai 8.075
Other individuals 43.475
l
Legal
representative and Chairman:
Mr. Song Baoyun, with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in Dalian Kangfeng Mechanical and Electrical Co., Ltd. as legal representative.
SC is mainly engaged
in researching, developing, manufacturing and selling machinery equipment.
SC’s products mainly include cladding equipment for copper and aluminum
products, etc.
SC sources its materials
90% from domestic market and 10% from overseas market. SC sells 65% of its
products in domestic market and 35% 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.
Note:
SC declined to release its major suppliers and clients.
Dalian Kangfeng Mechanical and Electrical Co., Ltd.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet 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 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.
SC’s accountant
refused to release the bank details.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Cash & bank |
88,370 |
108,890 |
|
Inventory |
3,090 |
5,670 |
|
Accounts
receivable |
120 |
700 |
|
Advances to
suppliers |
6,220 |
8,080 |
|
Other
receivables |
21,540 |
9,510 |
|
Other current
assets |
30 |
3,160 |
|
|
------------------ |
------------------ |
|
Current assets |
119,370 |
136,010 |
|
Fixed assets net
value |
29,870 |
23,590 |
|
Long term
investment |
0 |
250 |
|
Projects under construction |
0 |
20,670 |
|
Intangible and
other assets |
5,240 |
9,030 |
|
|
------------------ |
------------------ |
|
Total assets |
154,480 |
189,550 |
|
|
=========== |
=========== |
|
Short loan |
0 |
0 |
|
Accounts payable |
0 |
0 |
|
Advances from clients |
22,750 |
28,330 |
|
Taxes payable |
4,820 |
3,460 |
|
Other Accounts
payable |
6,790 |
1,720 |
|
Other current
liabilities |
10 |
20 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
34,370 |
33,530 |
|
Long term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
34,370 |
33,530 |
|
Equities |
120,110 |
156,020 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
154,480 |
189,550 |
|
|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Turnover |
179,430 |
|
Cost of goods sold |
110,700 |
|
Sales expense |
8,390 |
|
Management expense |
18,070 |
|
Finance expense |
160 |
|
Profit before tax |
41,510 |
|
Less: profit tax |
6,220 |
|
Profits |
35,290 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
3.47 |
4.06 |
|
*Quick ratio |
3.38 |
3.89 |
|
*Liabilities
to assets |
0.22 |
0.18 |
|
*Net profit
margin (%) |
/ |
19.67 |
|
*Return on
total assets (%) |
/ |
18.62 |
|
*Inventory
/Turnover ×365 |
/ |
12 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
2 days |
|
*Turnover/Total
assets |
/ |
0.95 |
|
* Cost of
goods sold/Turnover |
/ |
0.62 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in 2010.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is fairly good in 2010.
l
SC’s cost of goods sold is low, comparing with its
turnover in 2010.
LIQUIDITY: FAIRLY
GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears average.
l
SC has no short-term loan in both years.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in 2010.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly good.
SC is considered medium-sized in its line with fairly good financial
conditions. A credit line up to USD 1,000,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
|
UK Pound |
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.