MIRA INFORM REPORT
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Report Date : |
08.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
CNBM INTERNATIONAL CORPORATION |
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Registered Office : |
17f-21f, No. 4 Building, Zhuyu International
Business Center, No. 9 Shouti
South Road, Haidian District, Beijing 100044 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.08.2004 |
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Com. Reg. No.: |
110102007417602 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
importing and exporting
building materials, building equipment, ferroalloys products, mineral
products, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,500,000 |
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|
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Status : |
Good |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name & address
CNBM INTERNATIONAL CORPORATION
17F
NO. 9 SHOUTI SOUTH
ROAD, HAIDIAN DISTRICT, BEIJING 100044 PR CHINA
TEL: 86 (0)
10-68796888/68796421/68796607
FAX: 86 (0)
10-68796677/68796304
EXECUTIVE SUMMARY
Date of Registration : august 17, 2004
REGISTRATION NO. : 110102007417602
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 150,000,000
staff : 500
BUSINESS CATEGORY :
trading
Revenue : CNY 3,919,320,000 (AS OF
DEC. 31, 2010)
EQUITIES : CNY 145,300,000 (AS OF DEC. 31, 2010)
WEBSITE : www.miningalloy.com
E-MAIL :
alanlu@icnbm.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
1,500,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : FAIRLY GOOD
EXCHANGE RATE : CNY 6.39 = 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.: 110102007417602 on August
17, 2004.
SC’s Organization Code Certificate
No.: 76626876-4
SC’s registered capital: cny 150,000,000
SC’s paid-in capital: cny 150,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
|
Registered
Capital |
CNY 10,000,000 |
CNY 20,000,000 |
|
|
Registered
Capital |
CNY 20,000,000 |
CNY 50,000,000 |
|
2008 |
Company Chinese Name |
北京中建恒信国际贸易有限公司 |
中建材国际贸易有限公司 |
|
|
Registered
Capital |
CNY 50,000,000 |
CNY
75,000,000 |
|
2010 |
Registered Capital |
CNY
75,000,000 |
CNY
100,000,000 |
|
2011 |
Registered Capital |
CNY
100,000,000 |
cny 150,000,000 |
|
Legal Representative |
Wu Suhua |
Zhang Jinsong |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China National Building
Materials Import & Export Corporation |
81.60 |
|
Other Individuals |
18.40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhang Jinsong |
|
Director |
Xia Hongbo |
|
Piao Chaomei |
|
|
Tang Zaixin |
|
|
Supervisor |
Liu Shanshan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China National Building
Materials Import & Export Corporation 81.60
Other Individuals 18.40
China
National Building Materials Import & Export Corporation
=====================================================
Date of Registration: February 8, 1994
Registration No.: 110000005021759
Legal Form: State-owned
Enterprise
Registered Capital: CNY 900,000,000
China National Building Materials &
Equipment Import & Export Corporation was established in 1985. With the
development of more than twenty years, CNBM International is listed among the
top 500 enterprises of international trade companies. It has established wide
relationships with customers from more than 100 countries around the world.
Products are exported to five continents. Its business scope mainly cover
building materials, international trade of non-metallic minerals, equipment,
contracting, research and development, and e-business. As a trading platform of
China National Building Material Corporation (CNBM), CNBM International has
competitive advantages in importing and exporting of cement, glass, ceramics,
glass fiber products, compound materials and new building materials. It also
has advantages in its business scale, resources, and technology supports.
Address: No. 4 Building, Zhuyu International Business
Center, No.9 Shouti South Road, Beijing
Tel: 86 (0) 10-68796666
Fax: 86 (0) 10-68796688
Web: www.cbmie.com
MANAGEMENT
Zhang Jinsong, Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 40
Ø
ID# 320626197102066418
Ø
Qualification:
University
Ø
Working
experience (s):
Before,
worked in SC as general manager
At
present, working in SC as legal representative, chairman and general manager
Also working
in China National Building Materials Import &
Export Corporation as deputy general manager
Director
-----------
Xia Hongbo ID# 110105196003100470
Piao Chaomei ID# 11010819630813008X
Tang Zaixin ID# 110102195509291979
Supervisor
--------------
Liu Shanshan ID# 110108197401264925
BUSINESS OPERATION
SC’s
registered business scope includes importing and exporting commodities and
technology; selling building materials, metal materials, auto parts, hardware,
mineral products, chemical products (excluding Grade A poisonous chemicals & hazardous chemicals), machine equipment
instrument, wood materials, paper, native products, general merchandise,
textile; decorative design; home design; technology development; undertaking
exhibition; information consultant (excluding intermediary services).
SC is mainly
engaged in importing and exporting building materials, building equipment,
ferroalloys products, mineral products, etc.
SC’s
products mainly include: building materials, building equipments, ferroalloys
products, mineral products, etc.
SC sources its materials 65%
from domestic market, and 35% from overseas market, USA, India, UAE, Iran,
Russia, Saudi Arabia, etc. SC sells 40% of its products in domestic market, and
60% to overseas market, mainly Mid-East.
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.
*Major Suppliers:
=============
Changsha Zoomlion
Heavy Industry Science and Technology Development Co., Ltd.
Beijing
Sanyi Heavy Machinery Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 500
staff at present.
SC owns an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
Subsidiaries:
==========
n
CNBM
Steel Co., Ltd.
n
CNBM
International U.A.E. Company
n
Anguo
Zhongjian Non-Woven Fabric Co., Ltd.
n
Qidong
Zhongjian Haijia New Materials Co., Ltd.
Related Companies:
===============
n
CNBM International Engineering Co., Ltd.
n
CNBM International Shanghai Co., Ltd.
n
CNBM International Shanghai Jianpu Import &
Export Co., Ltd.
n
CNBM Technology Co., Ltd.
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’s suppliers
declined to make any comments.
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
Basic Bank:
Bank of China Beijing Branch
AC#
8049148159081091001
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
28,508 |
71,170 |
|
|
Accounts
receivable |
103,605 |
75,460 |
|
Advances to suppliers |
154,773 |
0 |
|
Other receivable |
145,952 |
113,630 |
|
Inventory |
28,712 |
141,790 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
0 |
91,400 |
|
|
------------------ |
------------------ |
|
Current assets |
461,550 |
493,450 |
|
Fixed assets |
1,759 |
2,520 |
|
Intangible
assets |
1,618 |
0 |
|
Long term
investment |
13,379 |
27,590 |
|
Long-term
deferred expenses |
327 |
0 |
|
Deferred income
tax assets |
1,883 |
0 |
|
Other
non-current assets |
0 |
3,610 |
|
|
------------------ |
------------------ |
|
Total assets |
480,516 |
527,170 |
|
|
============= |
============= |
|
Short-term loans |
226,583 |
200,000 |
|
Notes payable |
34,368 |
0 |
|
Accounts payable |
23,809 |
38,790 |
|
Advances from
clients |
61,630 |
0 |
|
Other payable |
14,011 |
67,990 |
|
Other current
liabilities |
6,175 |
75,090 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
366,576 |
381,870 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
366,576 |
381,870 |
|
Equities |
113,940 |
145,300 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
480,516 |
527,170 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
|
Revenue |
1,299,631 |
3,919,320 |
|
Cost of sales |
1,186,232 |
3,698,240 |
|
Sales expense |
69,811 |
140,200 |
|
Management expense |
4,977 |
13,630 |
|
Finance expense |
6,468 |
17,820 |
|
Profit before
tax |
29,200 |
49,000 |
|
Less: profit tax |
7,200 |
12,340 |
|
22,000 |
36,660 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.26 |
1.29 |
|
*Quick ratio |
1.18 |
0.92 |
|
*Liabilities
to assets |
0.76 |
0.72 |
|
*Net profit
margin (%) |
1.69 |
0.94 |
|
*Return on
total assets (%) |
4.58 |
6.95 |
|
*Inventory /
Revenue ×365 |
9
days |
14 days |
|
*Accounts
receivable/ Revenue ×365 |
30
days |
8 days |
|
*
Revenue/Total assets |
2.70 |
7.43 |
|
* Cost of
sales / Revenue |
0.91 |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears good, and it was rising
significantly in 2010.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is fairly good in both
years.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal level
in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
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 large-sized in its line with
fairly good financial conditions. The large amount of short-term loans
may be a threat to SC’s financial conditions. But taking into consideration of
SC’s general performance, reputation as well as market conditions, a credit
line up to USD 1,500,000 would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
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.