MIRA
INFORM REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ZHONGSHAN NOSTOP ELECTRIC CO., LTD. |
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Registered Office : |
Building C, Futian 7th Road, Shite Industrial Zone, Gangkou Town Zhongshan, Guangdong Province 528447 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.09.2008 |
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Com. Reg. No.: |
442000000174367 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling motor |
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 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 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
ZHONGSHAN NOSTOP ELECTRIC CO., LTD.
BUILDING C, FUTIAN 7TH ROAD, SHITE INDUSTRIAL ZONE, GANGKOU TOWN
ZHONGSHAN, GUANGDONG PROVINCE 528447 PR CHINA
TEL: 86 (0) 760-88483377/88483385
FAX: 86 (0) 760-88483386
EXECUTIVE SUMMARY
Date of Registration : september 19, 2008
REGISTRATION NO. : 442000000174367
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 2,000,000
staff :
190
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 52,871,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 2,358,000 (AS OF DEC. 31, 2010)
WEBSITE : www.nostopmotor.com
E-MAIL :
stony@nostopmotor.com
PAYMENT :
AVERAGE
Recommended Credit Limi : UP TO USD 20,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly 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 limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 442000000174367
on September 19, 2008.
SC’s registered capital: cny 2,000,000
SC’s paid-in capital: cny 2,000,000
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 |
|
Shi Qiu |
60 |
|
Zhong Yingying |
40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Shi Qiu |
|
Supervisor |
Zhong Yingying |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shi Qiu 60
Zhong Yingying 40
MANAGEMENT
Shi Qiu , Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 41
Ø
ID# 430104197011254675
Ø
Qualification:
University
Ø
Mobile:
86 13590940589
Ø
Working
experience (s):
From 2008
to present, working in SC as legal representative, chairman and general manager
Zhong Yingying ,
Supervisor
------------------------------------------------
Ø
Gender: F
Ø
Age: 30
Ø
ID# 43302319810806502X
Ø
Qualification:
University
Pan Qinghuang , Sales
Manager
-----------------------------------------------------
Ø
Gender: M
Ø
Mobile: 86 15018002777
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling motor, household electrical appliances, computer accessories,
electronic products, hardware accessories, plastic products, metal and plastic
mold; importing and exporting goods and technology.
SC is mainly
engaged in manufacturing and selling motor.
Brand: 
SC’s products
mainly include:
AC
Shaded Pole Motors
Crossflow
Blower & Hot Air Fan
AC
Universal Motors
AC
Induction Geared Motor
PMDC
Motor
Planet
Geared Motor
DC
Spur Geared Motors
ECM
(Electronically Commutated Motor)
AC
Synchronous Motors
SC sources its materials 100% from domestic
market, mainly Guangdong. SC sells 30% of its products in domestic market, and 70%
to overseas market, mainly USA, Russia, India, Iran, Turkey, Germany, and
Italy.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 190 staff at
present.
SC rents an area
as its operating office & factory of approx. 8,354 sq. meters at the
heading address.
RELATED COMPANY
n
Nostop Group (H.K.) Co., Limited
--------------------------------------------
Date of Registration: June 9, 2006
Registration No.: 1051138
Legal Form: Private
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 |
0 |
0 |
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Total assets |
8,479 |
10,361 |
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------------- |
------------- |
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Long term liabilities |
0 |
0 |
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Total
liabilities |
6,544 |
8,003 |
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Equities |
1,935 |
2,358 |
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------------- |
------------- |
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Revenue |
21,893 |
52,871 |
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Profit before
tax |
461 |
579 |
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Less: profit tax |
1 |
156 |
|
Profits |
460 |
423 |
Note: The detailed financials for Y2009 and Y2010 are not available in
SAIC.
Important Ratios
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.77 |
0.77 |
|
*Net profit
margin (%) |
2.10 |
0.80 |
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*Return on
total assets (%) |
5.43 |
4.08 |
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*
Revenue/Total assets |
2.58 |
5.10 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
l
SC’s revenue is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 20,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
|
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
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 |
-- |
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.