MIRA
INFORM REPORT
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Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
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Name : |
HENAN GUANGMING STEEL STRUCTURE ENGINEERING CO., LTD. |
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Registered Office : |
Chenfeng Avenue, Economic & Technology Development
Zone Shangqiu, Henan Province 476000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.03.2010 |
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Com. Reg. No.: |
411491000001666 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Steel structure design and construction, selling steel structure, grid, color steel plate, building materials. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
HENAN GUANGMING STEEL STRUCTURE ENGINEERING CO., LTD.
CHENFENG AVENUE, ECONOMIC & TECHNOLOGY DEVELOPMENT ZONE
SHANGQIU, HENAN PROVINCE 476000 PR CHINA
TEL: 86 (0) 370-3180777/3167912/13903702777
FAX: 86 (0) 370-3167908
EXECUTIVE SUMMARY
Date of Registration : march 25, 2010
REGISTRATION NO. : 411491000001666
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL : cny 23,000,000
staff :
10
BUSINESS CATEGORY : engineering &
trading
Revenue :
CNY 3,610,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 14,510,000 (AS OF DEC. 31, 2010)
WEBSITE : www.hngmhb.com
E-MAIL :
hngmlina@yahoo.cn
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 100,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.32 = 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 a one-person limited liability company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 411491000001666 on March 25, 2010.
SC’s Organization Code Certificate No.:
55315593-4
SC’s registered capital: cny 23,000,000
SC’s paid-in capital: cny 23,000,000
Registration Change Record:
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Date |
Change of Contents |
Before the change |
After the change |
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Paid-in Capital |
CNY 3,000,000 |
CNY 15,000,000 |
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Paid-in Capital |
CNY 15,000,000 |
CNY 23,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Jiang Yugang |
100 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Jiang Yugang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Jiang Yugang 100
MANAGEMENT
Jiang
Yugang , Legal Representative, Chairman and General Manager
Ø
Gender: M
Ø
Age: 39
Ø
ID# 41232219720727061X
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative,
chairman and general manager
BUSINESS OPERATION
SC’s registered business scope includes steel structure
design and construction; glass curtain wall engineering design and
construction; indoor and outdoor decoration design and construction; selling
steel structure, grid, color steel plate, building materials, machinery and
equipment; importing and exporting goods and technology.
SC is mainly
engaged in steel structure design and construction, selling steel structure,
grid, color steel plate, building materials.
SC’s products
mainly include:
Tyre
refining equipment
Waste
rubber refining equipment
Used tyre refining equipment
Plastic
waste oil refining equipment
Etc.
SC sources its materials 100% from domestic
market, mainly Henan. SC sells 40% of its products in domestic market, and 60%
to overseas market, mainly Middle East, and Southeast Asia.
The buying terms
of SC include T/T and Credit of 30-60 days. The payment terms of SC include
T/T, L/C and Credit of 30-60 days.
Staff &
Office:
SC is known
to have approx. 10 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have a
branch at present,
Henan
Guangming Steel Structure Engineering Co., Ltd. Chengdu Branch
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Date of Registration: August 8, 2011
Registration No.: 510107000395920
Legal Form: Branch Company
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 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
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Long term investment |
0 |
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Total assets |
29,460 |
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Long term liabilities |
0 |
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Total
liabilities |
14,950 |
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Equities |
14,510 |
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------------- |
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Revenue |
3,610 |
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Profit before
tax |
3,560 |
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Less: profit tax |
890 |
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Profits |
2,670 |
Note: The detailed financials for Y2010 are not available in SAIC.
Important Ratios
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As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.51 |
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*Net profit
margin (%) |
73.96 |
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*Return on
total assets (%) |
9.06 |
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*
Revenue/Total assets |
0.12 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fair in its line.
l
SC’s net profit margin is good.
l
SC’s return on total assets is fairly good.
LIQUIDITY: FAIR
l
SC’s revenue is in a fair level, comparing with the
size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 100,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.21 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.