MIRA
INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO ANCHOR CHAIN CO., LTD. |
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Registered Office : |
No. 584 Aolan Road, Jimi City, Qingdao Shandong Province 266200 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.12.1996 |
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Com. Reg. No.: |
370200018005462 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling anchor chain and accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
company name and address
QINGDAO ANCHOR CHAIN CO., LTD.
NO. 584 AOLAN ROAD, JIMI CITY, QINGDAO
SHANDONG PROVINCE 266200 PR CHINA
TEL: 86 (0) 532-88537690/88517421
FAX: 86 (0) 532-88511501
EXECUTIVE SUMMARY
Date of Registration : december 30, 1996
REGISTRATION NO. : 370200018005462
LEGAL FORM : Shares limited company
REGISTERED CAPITAL : cny 10,000,000
staff :
460
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 233,516,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 71,423,000 (AS OF DEC. 31, 2010)
WEBSITE : www.qd-anchor-chain.com
E-MAIL :
qac@public.qd.sd.cn
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 500,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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 shares limited company of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 370200018005462 on December 30, 1996.
SC’s Organization Code Certificate No.:
16394866-4
SC’s registered capital: cny 10,000,000
SC’s paid-in capital: cny 10,000,000
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 |
|
Gao Wensen and other 39 individuals |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Gao Wensen |
|
Director |
Huang Yuqing |
|
Liu Shuchun |
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|
Sun Gongyun |
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|
Xin Ruyu |
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|
Yin Hailun |
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Supervisor |
Li Jianmin |
|
Yang Weixiang |
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|
Zuan Changyong |
RECENT DEVELOPMENT
SC has got the certificate ABS, BV, CCS, DNV, GL, KR, LR, NK, and RINA.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Gao Wensen and other 39 individuals 100
MANAGEMENT
Gao Wensen , Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 64
Ø
ID# 370222194707130070
Ø
Qualification:
University
Ø
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Also
working in Qingdao Hengxin Imp. & Exp. Co., Ltd. as legal representative
Director
-----------
Huang Yuqing ID# 110108196606212315
Liu Shuchun ID#
370202193812263537
Sun Gongyun ID#
370222194701180018
Xin Ruyu ID#
37022219590914001X
Yin Hailun ID#
370222196004140079
Supervisor
---------------
Li Jianmin ID#
370222196401270117
Yang Weixiang ID#
37022219520422001X
Zuan Changyong ID#
370222195002130016
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling anchor chain and accessories, fitness equipment; selling steels;
importing and exporting goods and technology.
SC is mainly engaged
in manufacturing and selling anchor chain and accessories.
Brand: SHUANGLING
SC’s products
mainly include:
|
Chain Cable |
Accessories |
|
Stud
Link Anchor Chain Grade
II,M20MnØ Grade
III,M30MnØ |
Kenter
Shackle |
|
Studless
Anchor Chain Size：Ø |
Swivel
Shackle |
|
Buoy
Chain |
D-Type
Joining Shack,D-Type Anchor Shack |
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Hatch-cover
chain ,Lifting Chain ,Kiln Chain and others |
|
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DIN
Standard Chain |
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Special
chain and accessories as per customers' requirement |
SC sources its materials 100% from domestic
market, mainly Shandong. SC sells 33% of its products in domestic market, and
67% to overseas market.
The buying terms of
SC include T/T and Credit of 30-60 days. The payment terms of SC include T/T,
L/C and Credit of 30-60 days.
*Major Supplier:
=============
Zhengmao Group
Changshu Anchor Co., Ltd.
Staff & Office:
--------------------------
SC is known
to have approx. 460 staff at
present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC
is known to have a subsidiary at present:
n
Qingdao Hengxin Imp. & Exp. Co., Ltd.
-------------------------------------------------
Date of Registration: February 12, 2000
Registration No.: 370282018025837
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 1,000,000
Address:
106 Aolan Road, Jimo, Qingdao, China
Tel:
+86-532-88537690 88513117
Fax:
+86-532-88511501
E-mail:
qac@public.qd.sd.cn
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 |
|
Long term investment |
6,244 |
6,339 |
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Total assets |
93,704 |
117,319 |
|
|
------------- |
------------- |
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Long term liabilities |
10 |
10 |
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Total
liabilities |
39,206 |
45,896 |
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Equities |
54,498 |
71,423 |
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|
------------- |
------------- |
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Revenue |
222,685 |
233,516 |
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Profit before
tax |
17,198 |
22,789 |
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Less: profit tax |
4,311 |
5,664 |
|
Profits |
12,887 |
17,125 |
Note: The detailed financials for Y2009 and Y2010 are not available in
SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.42 |
0.39 |
|
*Net profit
margin (%) |
5.79 |
7.33 |
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*Return on
total assets (%) |
13.75 |
14.60 |
|
*
Revenue/Total assets |
2.38 |
1.99 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good in its line.
l
SC’s net profit margin is fairly good in both
years.
l
SC’s return on total assets is fairly good in both
years.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good financial conditions.
A credit line up to USD 500,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.89 |
|
|
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.67.79 |
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 |
|
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.