MIRA
INFORM REPORT
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Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
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Name : |
GUIYANG KEMAI MACHINERY AND EQUIPMENT CO., LTD. |
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Registered Office : |
A408, CHENGSHI
FANGZHOU, NO. 25, ZUNYI ROAD, NANMING DISTRICT, GUIYANG, GUIZHOU
PROVINCE 550002 PR |
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Country : |
CHINA |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.08.2004 |
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Com. Reg. No.: |
520100000008308 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Machinery Equipment |
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 50,000 |
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Status : |
Moderate |
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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) |
|
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 |
Name and address
GUIYANG
KEMAI MACHINERY AND EQUIPMENT CO., LTD.
A408, CHENGSHI FANGZHOU,
NO. 25, ZUNYI ROAD, NANMING DISTRICT,
GUIYANG, GUIZHOU
PROVINCE 550002 PR CHINA
TEL: 86 (0)
851-8639105 FAX: 86 (0) 851-8639108
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 6, 2004
REGISTRATION NO. : 520100000008308
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 23,860,000 (UNaudited, AS OF DEC. 31, 2010)
EQUITIES :
CNY 5,950,000 (UNaudited, AS OF
DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.48= 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
Note: 6/F, Zhongtian Business Fortune Plaza, Dusi Road, Guiyang
Guizhou was SC’s former address and the current address should be the heading
one.
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 Aug. 6, 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 selling mining machinery, electrical
equipment, supporting general machinery equipment and accessories, II & III
kinds of mechanical and electrical products, steel, building materials,
chemical materials and products, hardware, plastic products, common minerals,
ferrous alloys, textile materials and products, metal material and products,
instruments and parts, agricultural machinery equipment; general business
advisory and service; importing and exporting commodities and technologies;
agent for import and export business; advisory service.
SC is mainly
engaged in selling machinery equipment.
Ms. Huang
Jianping is legal representative and
chairman of SC at present.
SC is known to
have approx. 10 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Guiyang. Our checks reveal
that SC rents the total premise about 250 square meters.
http://www.kemaico.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: office@kemaico.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2010 |
Registered capital |
CNY 500,000 |
Present amount |
MAIN SHAREHOLDERS:
Name
% of Shareholding
Huang Jianping 50
Liu Ling 50
l
Legal representative and Chairman:
Ms. Huang Jianping , in her
Working Experience(s):
At present Working
in SC as legal representative and chairman.
l
Supervisor:
Liu Ling
SC is mainly
engaged in selling machinery equipment.
SC’s products mainly include mining & quarry equipment and tools,
etc.
SC sources its
materials 100% from domestic market. SC sells 100% to overseas market.
The buying terms of SC include Check, T/T 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.
According to SC’s website:
Guiyang Maxdrill Rock Tools 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 |
3,400 |
80 |
|
Inventory |
2,760 |
310 |
|
Accounts
receivable |
0 |
0 |
|
Advances to
suppliers |
660 |
6,060 |
|
Other
receivables |
330 |
300 |
|
Export drawback
receivable |
270 |
0 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current assets |
7,420 |
6,750 |
|
Fixed assets net
value |
780 |
600 |
|
Long term
investment |
0 |
5,300 |
|
Projects under
construction |
0 |
0 |
|
Intangible and
other assets |
0 |
10 |
|
|
------------------ |
------------------ |
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Total assets |
8,200 |
12,660 |
|
|
=========== |
=========== |
|
Short loan |
0 |
0 |
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Accounts payable |
1,000 |
1,070 |
|
Bills payable |
0 |
0 |
|
Advances from
clients |
3,980 |
4,580 |
|
Taxes payable |
-410 |
-700 |
|
Other Accounts
payable |
2,370 |
1,750 |
|
Other current
liabilities |
20 |
10 |
|
|
------------------ |
------------------ |
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Current
liabilities |
6,960 |
6,710 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
6,960 |
6,710 |
|
Equities |
1,240 |
5,950 |
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------------------ |
------------------ |
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Total
liabilities & equities |
8,200 |
12,660 |
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|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Turnover |
23,860 |
|
Cost of goods sold |
18,170 |
|
Sales expense |
4,660 |
|
Management expense |
980 |
|
Finance expense |
0 |
|
Profit before tax |
270 |
|
Less: profit tax |
70 |
|
Profits |
200 |
Note: The Financial Report for Year 2010 hasn’t been audited.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.07 |
1.01 |
|
*Quick ratio |
0.67 |
0.96 |
|
*Liabilities
to assets |
0.85 |
0.53 |
|
*Net profit
margin (%) |
/ |
0.84 |
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*Return on
total assets (%) |
/ |
1.58 |
|
*Inventory
/Turnover ×365 |
/ |
5 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
/ |
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*Turnover/Total
assets |
/ |
1.88 |
|
* Cost of
goods sold/Turnover |
/ |
0.76 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in 2010.
l
SC’s net profit margin is average in 2010.
l
SC’s return on total assets is average in 2010.
l
SC’s cost of goods sold is average, comparing with its
turnover in 2010.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fair level in
2009 and in a normal level in 2010.
l
The inventory of SC appears average.
l
SC has no accounts receivable in both years.
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: AVERAGE
l
The debt ratio of SC is high in 2009 and average in
2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
SC is considered small-sized in its line with stable financial
conditions. A credit line up to USD 50,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.64.58 |
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.