MIRA INFORM REPORT
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Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
JINAN HITECH SPECIAL WELDING CO., LTD. |
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Registered Office : |
C4, Dadong Science And Technology City, No. 242-2 Shanda Road, Jinan City, Shandong Province 250014 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
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Com. Reg. No.: |
370102200021751 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
selling welding materials, welding equipment and
auxiliary devices, and providing processing
services |
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 20,000 |
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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 – September 30th, 2011
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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 & address
JINAN
HITECH SPECIAL WELDING CO., LTD.
C4, DADONG SCIENCE AND TECHNOLOGY CITY, NO.
242-2 SHANDA ROAD,
JINAN CITY, SHANDONG PROVINCE 250014 PR
CHINA
TEL: 86 (0)
531-88589580 FAX: 86 (0) 531-88921090
EXECUTIVE SUMMARY
INCORPORATION DATE : jan. 13, 2005
REGISTRATION NO. :
370102200021751
REGISTERED LEGAL
FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
30
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADE AGENT & PROCESSING SERVICE
TURNOVER :
CNY 13,120,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 3,240,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3521=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: Instead of the given name Jinan Hitech Co (Nf), SC’s complete name should be the above stated one, and SC is also known as Jinan Hanmo Special Welding Co., Ltd.
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. 13, 2005.
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 wholesaling and retailing welding materials, welding equipment
and assistive devices, electronic products, automotive supplies; manufacturing
and repairing mold; repairing and installing machinery and equipment;
developing and transferring die manufacturing technology; importing and
exporting business.
SC is
mainly engaged in acting as an agent for selling welding materials, welding equipment and
auxiliary devices, and providing processing services.
Mr. Zhang Hai has
been legal representative, chairman and general manager of SC since 2005.
SC is
known to have approx. 30 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Jinan. SC’s accountant refused to
release the detailed information of the area.
SC’s
processing factory is located in North of Kaiyuan Road, Licheng District, Jinan
City, Shandong Province.
http://www.r-rweld.com/ The design is professional and the content is well
organized. At present it is only in Chinese version.
Email: hitech-weld@163.com
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Shareholders |
Zhang Hai 60% Zhao Xiaorong 40% |
Present ones |
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Company name |
Jinan Huarun Taike Technology
Co., Ltd. (Literal
Translation) |
Present one |
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Registration no. |
3701002821796 |
3701022803067 |
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Registration no. |
3701022803067 |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhao Qiongwei 30
Zhang Chuanbao 19
Zhang Hai 36
Zhao Xiaorong 15
Legal representative,
chairman and general manger:
Mr. Zhang Hai, ID#: 370103690107501, born in 1969. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005 to present Working in SC as legal representative, chairman and general manager.
Supervisor:
Zhao Xiaorong
SC is
mainly engaged in acting as an agent for selling welding materials, welding equipment and
auxiliary devices, and providing processing services.
SC’s products mainly include: welding materials, welding equipment,
assistive devices, mold, etc.
SC’s agent brand: Forge weld
SC sources its materials 30% from domestic
market, and 70% from overseas market. SC sells 90% of its products in domestic
market, and 10% to overseas market.
The buying terms of SC include Check, L/C, T/T and Credit of
30-60 days. The payment terms of SC include Check, L/C, T/T, and Credit of
30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
SC is not known to have any subsidiary at present.
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.
We did not find SC’s bank information from local AIC.
Financial Summary
Unit: CNY’000
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As of Dec. 31,
2010 |
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Total
liabilities |
230 |
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Equities |
3,240 |
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Total Assets |
3,470 |
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============= |
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Turnover |
13,120 |
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Profit before
tax |
640 |
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Profits |
480 |
Note: we did not
find SC’s detailed financial reports from local AIC.
Important Ratios
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As of Dec. 31,
2010 |
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*Liabilities
to assets |
0.07 |
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*Net
profit margin (%) |
3.66 |
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*Return
on total assets (%) |
13.83 |
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*Turnover/Total
assets |
3.78 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line in
2010.
l
SC’s net profit margin is average in 2010.
l
SC’s return on total assets is fairly good in 2010.
l
SC’s turnover is in a fairly good level in 2010,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC appears low in 2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered small-sized in its line with fairly stable financial
conditions. The given credit amount would appear to be beyond SC’s capacities,
while a credit line up to USD 20,000 is recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.72 |
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UK Pound |
1 |
Rs.81.42 |
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Euro |
1 |
Rs.68.89 |
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.