MIRA
INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
Xuzhou Construction Machinery Group Co., Ltd. |
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Registered Office : |
Industrial Zone 1, |
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Country : |
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Date of Incorporation : |
21.08.1985 |
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Com. Reg. No.: |
320000000008179 |
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Legal Form : |
Sole State-Owned |
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Line of Business : |
Engineering machinery manufactured by subsidiaries. |
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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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
Xuzhou Construction Machinery Group Co., Ltd.
industrial zone 1,
TEL: 86 (0)
516-87739106 FAX: 86 (0)
516-87739999
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUG. 21, 1985
REGISTRATION NO. :
320000000008179
REGISTERED LEGAL FORM : SOLE STATE-OWNED
STAFF STRENGTH :
20,000 (INCLUDING SUBSIDIARIES)
REGISTERED CAPITAL : CNY 347,310,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE :
CNY
6.50 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a Sole state-owned enterprise at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Aug. 21, 1985.
Company Status: Sole state-owned enterprise This form of
business in PR China is defined as a commodity production or operational
units of a socialist character which in accordance with the law, have
autonomy in management, take full responsibility for its profits and losses
and practices independent business accounting. It is a legal person
established directly by central / local government or enterprise owned by
central or local government. In theory, the liabilities of this form of
enterprise are ultimately borne by the government, since the adoption of
company law in mid-1994, the Chinese government has planned to separate the
ownership from management and liabilities bearing. The shareholders of this form
of Limited Liabilities Company are State-owned Assets Supervision and
Administration Commission authorized by the State Council or local
Municipal Government. The regulation is set up by
State-owned Assets Supervision and Administration Commission or by the
board of directors after approval of State-owned Assets Supervision and
Administration Commission. Sole state-owned enterprise
does not set up board of shareholders, which is replaced by State-owned
Assets Supervision and Administration Commission. State-owned Assets Supervision
and Administration Commission assign the board of directors.
SC’s registered
business scope includes exporting hoisting equipment, vehicle, refitted car,
building construction machinery, mining machine, sanitation machinery, power machinery,
common base products, wind-driver tools, engineering machinery complete
equipment, engineering machinery bulk parts and components; importing key
components, equipment and raw materials needed in the manufacture, exporting
its products and technology, providing after-sale services for exporting raw
materials, mechanical equipment, instrument and technology needed in the
manufacture; affecting Chinese foreign contractual joint venture enterprise;
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; domestic
trade, engineering machinery, casting and forging and general components.
SC is mainly
engaged in selling engineering machinery manufactured by subsidiaries.
Mr. Wang Min is chairman of SC at present.
SC is known to have approx. 20,000 employees at present,
including the ones in its subsidiaries.
SC
is currently operating at the above stated address, and this address houses its
operating office in the economic development zone of Xuzhou. The detailed
information of the premise is unspecified.
http://www.xcmg.com/
The design is professional and the content is well organized. At present it is
in Chinese, English and other versions.
Email: export@xcmg.com
service@xcmg.com
No significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
The People’s Government of Jiangsu Province 100
Web: http://www.jiangsu.gov.cn/
l
Chairman:
Mr. Wang Min , ID # 320303540302001, born in 1954 with Master’s Degree.
He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman
Also working in XCMG Construction Machinery Co.,
Ltd., Xuzhou Heavy Machinery Co., Ltd. and Xuzhou Xugong Excavator Machinery
Co., Ltd. as legal representative
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General Manager:
Mr.
Working Experience(s):
At present Working
in SC as general manager.
*Officials:
=======
Name Title
Lu Zhichang Director
Huang Jian Director
Cheng Jingguo Director
Sun Zuwang Director
SC is mainly
engaged in selling engineering machinery manufactured by subsidiaries.
SC’s products
mainly include truck crane, crawler crane, concrete pump, aerial platform fire truck,
excavator, and so on.
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 40% of its products in domestic
market, and 60% 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’s
management declined to release its customer and supplier details.
SC is known to have the following subsidiaries:
Xuzhou
Heavy Machinery Co., Ltd.
XCMG
Construction Machinery Co., Ltd.
XCMG
Xuzhou Truck-Mounted Crane Co., Ltd.
Xuzhou
Xugong Special Construction Machinery Co., Ltd.
Xuzhou
Xugong Excavator Machinery Co., Ltd.
Xuzhou
Construction Machinery Group Imp. & Exp. Co., Ltd.
Etc.
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 management
declined to release its bank details.
SC’s financial reports
were not found during our checks with the local Administration for Industry and
Commerce.
SC’s management declined to release any financial information.
SC is considered
a large-sized company in its line with fairly good background. Credit up to
moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.79 |
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1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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.