MIRA INFORM REPORT
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Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
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Name : |
GUIZHOU PROVINCIAL METALS & MINERALS IE
CO., LTD. |
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Registered Office : |
No. 328, Zhonghua North Road, Guiyang City, Guizhou Province 255000 Pr
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.06.2009 |
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Com. Reg. No.: |
520000000013350 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Metal Minerals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 & address
GUIZHOU PROVINCIAL
METALS & MINERALS IE CO., LTD.
NO. 328, ZHONGHUA NORTH ROAD
GUIYANG CITY, GUIZHOU PROVINCE 255000 PR CHINA
TEL: 86 (0) 851-6901009
FAX: 86 (0) 851-6901016
EXECUTIVE SUMMARY
Date
of Registration : JUNE 1, 2009
REGISTRATION
NO. : 520000000013350
LEGAL
FORM : Limited liabilities company
REGISTERED CAPITAL : cny 5,000,000
staff :
120
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 183,355,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 6,069,000 (AS OF DEC. 31, 2010)
WEBSITE : www.gzminmetals.com
E-MAIL : gzwukang@yahoo.com.cn
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 100,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND : STEADY
GENERAL
REPUTATION : FAIRLY GOOD
EXCHANGE RATE :
CNY 6.46 = 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 limited
liabilities company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 520000000013350 on June 1,
2009.
SC’s Organization Code Certificate No.: 688419597
SC’s registered capital: cny 5,000,000
SC’s paid-in capital: cny 5,000,000
No significant changes of SC have been noted in SAIC
since its incorporation.
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name
of Shareholder (s) |
%
of Shareholding |
|
Bai Junhui |
6 |
|
Dushan Dufeng Antimony Co., Ltd. |
30 |
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Guizhou Dongfeng Enterprise Group Co., Ltd. |
20 |
|
Guizhou Provincial Commerce & Trade State-owned Asset Management
Co., Ltd. |
10 |
|
Li Xiangfang |
2 |
|
Shenzhen Jiefu Corporation (Former name: Shenzhen Jiefu Industry Development Co., Ltd.) |
28 |
|
Yin Guoji |
1 |
|
Zuo Hong |
3 |
SC’s
Chief Executives:-
Legal Representative and General Manager: Bai Junhui
RECENT DEVELOPMENT
SC’s predecessor was
Guizhou Provincial Metals & Minerals I/E Corp.
SHAREHOLDER CHART &
BACKGROUND
Name % of Shareholding
Bai Junhui 6
Dushan Dufeng Antimony Co., Ltd. 30
Guizhou Dongfeng Enterprise Group Co., Ltd. 20
Guizhou Provincial Commerce & Trade
State-owned Asset Management Co., Ltd. 10
Li Xiangfang 2
Shenzhen Jiefu Corporation
(Former name: Shenzhen
Jiefu Industry Development Co., Ltd.) 28
Yin Guoji 1
Zuo Hong 3
Dushan Dufeng Antimony Co., Ltd.
=============================
Address: Xiaohe Industrial Zone, Chengguan Town, Dushan
County, Guizhou Province
Tel: +86-854-3233387
Fax: +86-854-3233387
Website: www.dftiye.com
Guizhou Dongfeng Enterprise Group Co., Ltd.
====================================
Address: River, Chengguan Town, Dushan County, Guizhou
Province
Tel/Fax: +86-854-3233387
Shenzhen Jiefu Corporation
(Former name: Shenzhen Jiefu Industry Development Co.,
Ltd.)
=============================================
Date of
Registration: May 20, 1994
Registration No.:
440301103033475
Legal Form: Limited Liabilities Company
Registered
Capital: CNY 50,000,000
Add:
Post Code: 518040
Tel: +86-755-83474901
Fax: +86-755-83474980
Website: www.jiefu.com
E-mail: server@jiefu.com
MANAGEMENT
Bai Junhui , Legal
Representative and General Manager
------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø
ID# N/a
Ø
Qualification:
University
Ø
Working
experience (s):
From 2009 to present, working in SC as legal representative
and general manager
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting metal minerals; selling metal minerals,
non-ferrous metals, ferrous metals, scrap metals, abrasives, chemical products,
ii & iii items of mechanical and electrical products, and machinery;
importing & exporting agency; processing and trading minerals; labor
services; renting automobiles and houses.
SC is mainly engaged in importing
and exporting metal minerals.
SC’s products mainly include:
Antimony
ingot
Zinc
Antimony
Trioxide
Barite
SC sources its materials 70% from domestic market, and 30% from
overseas market. SC sells 40% of its products in domestic market, and 60% to
overseas market, mainly India.
The buying terms of SC include
T/T, L/C 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. 120 staff at
present.
SC rents an area as its operating
office, but the detailed information is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
|
Unit: CNY’000 |
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
Inventory |
4,692 |
9,196 |
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Total assets |
11,854 |
16,034 |
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|
------------- |
------------- |
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Total liabilities |
6,691 |
9,965 |
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Equities |
5,163 |
6,069 |
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------------- |
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Revenue |
33,475 |
183,355 |
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Profits |
163 |
905 |
Note: The
detailed financials for Y2009 & Y2010 are not filed in SAIC.
Important Ratios
=============
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
*Liabilities to assets |
0.56 |
0.62 |
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*Net profit margin (%) |
0.49 |
0.49 |
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*Return on total assets (%) |
1.38 |
5.64 |
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*Inventory / Revenue ×365 |
52 days |
19 days |
|
* Revenue/Total assets |
2.82 |
11.44 |
FINANCIAL COMMENTS
PROFITABILITY: FAIRLY GOOD
l
The
turnover of SC appears average in 2009, fairly good 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 fairly good in 2010.
LIQUIDITY: FAIRLY GOOD
l
The
inventory of SC appears average in both years.
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 both years.
l
The risk
for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly
Good.
CONCLUSIONS
SC is considered
medium-sized in its line with fairly good financial
conditions. Taking into consideration of SC’s fairly good background,
general performance, reputation as well as market 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.44.72 |
|
UK Pound |
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
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 |
|
<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.