MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI ATLANTIC WELDING CONSUMABLES CO.,
LTD. |
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Registered Office : |
No. 188 Qingda Road, Heqing Town, Pudong New
District, Shanghai 201201 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.09.2002 |
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Com. Reg. No.: |
310115000710015 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and Selling Welding Material |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 1,500,000 |
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Status : |
Good |
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Payment
Behaviour : |
Usually Correct |
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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 |
|
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
Shanghai Atlantic Welding Consumables Co., Ltd.
no. 188 qingda road,
heqing town, pudong new district
shanghai 201201 PR
CHINA
TEL: 86 (0)
21-58979176/58973332
FAX: 86 (0)
21-58979175
EXECUTIVE SUMMARY
Date of Registration : SEPTEMBER 28, 2002
REGISTRATION NO. : 310115000710015
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 150,000,000
staff : 510
BUSINESS CATEGORY :
manufacturing
Revenue :
CNY 599,100,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 178,333,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
1,500,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
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.: 310115000710015 on September
28, 2002.
SC’s Organization Code Certificate No.: 74375796-0
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 |
|
2011 |
Legal Representative |
Liu Junqing |
Li Xinyu |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Atlantic China Welding
Consumables, Inc. |
85 |
|
Shanghai Pudong Heqing
Industry Development Co., Ltd. |
15 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Li Xinyu |
|
Director |
Chen Yigang |
|
Supervisor |
Wang Jingling |
RECENT DEVELOPMENT
SC has got ISO2000 approval issued by LR. The main products have been
approved by CCS, ABS, LR, BV, GL, DNV and NK.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Atlantic China Welding Consumables,
Inc. 85
Shanghai Pudong Heqing Industry
Development Co., Ltd. 15
Atlantic
China Welding Consumables, Inc.
===================================
Date of Registration: September 20, 1999
Registration No.: 5100001811643
Legal Form: Shares Limited
Company
Registered Capital: CNY 138,172,000
Address: Zigong, Sichuan, China
Tel: 86-813-5101672
Fax: 86-813-5103072
Web: www.weldatlantic.com
E-mail: atlantic@zg-public.sc.cninfo.net
Shanghai
Pudong Heqing Industry Development Co., Ltd.
===============================================
Date of Registration: September 20, 1993
Registration No.: 310115000089016
Legal Form: Collective-owned
enterprise
Registered Capital: CNY 57,000,000
MANAGEMENT
Li Xinyu, Legal Representative and Chairman
-----------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 47
Ø
Qualification:
Master
Ø
Working
experience (s):
Before, worked in Atlantic China Welding Consumables, Inc. as general manager
At present, working in SC as legal representative and chairman
Also working in Atlantic China Welding Consumables, Inc. as legal representative and chairman
Chen Yigang, Director
------------------------------------------
Ø
Gender: M
Ø
Age: 56
Ø
Qualification:
Junior College
Also as director of Atlantic China Welding
Consumables, Inc.
Wang Jingling,
Supervisor
-----------------------------------------------
Ø
Gender: F
Ø
Age: 54
Ø
Qualification:
University
Also as director of Atlantic China Welding
Consumables, Inc.
BUSINESS OPERATION
SC’s registered business scope includes
R&D, manufacturing and selling welding material, asset management,
industrial investment, exporting its products; importing machinery and
equipment, parts and raw materials needed for its production, excluding the
goods forbidden by the government.
SC is
mainly engaged in manufacturing and selling welding
material.
Brand: 
SC’s products
mainly include: carbon steel covered electrode, carbon steel wire
SC sources its materials 100% from domestic
market, mainly Sichuan. SC sells 65% of its products in domestic market, and
35% to overseas market, mainly Australia, Singapore, Poland, Thailand, India,
etc.
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:
=============
Atlantic China Welding Consumables, Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 510 staff at present.
SC owns an area as
its operating office & factory of approx. 99,000 sq. meters at the heading
address.
RELATED COMPANY
· Zigong Atlantic Welding Wire Co., Ltd.
· Shenzhen Atlantic Electrode Co., Ltd.
· Yunnan Atlantic Electrode Co., Ltd.
· Chengdu Atlantic Electrode 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 records 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 Communications Shanghai Branch
AC# N/A
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Total assets |
420,390 |
406,910 |
460,557 |
|
|
------------- |
------------- |
------------- |
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Total
liabilities |
246,720 |
232,805 |
282,224 |
|
Equities |
173,670 |
174,105 |
178,333 |
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|
------------- |
------------- |
------------- |
|
Revenue |
604,510 |
522,218 |
599,100 |
|
Profits |
16,390 |
10,788 |
14,260 |
Note: The detailed financials for Y2008, Y2009 and Y2010 of SC are not
filed in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.59 |
0.57 |
0.61 |
|
*Net profit
margin (%) |
2.71 |
2.07 |
2.38 |
|
*Return on
total assets (%) |
3.90 |
2.65 |
3.10 |
|
*
Revenue/Total assets |
1.44 |
1.28 |
1.30 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
fairly good 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 an
average level, comparing with the size of its total assets.
LEVERAGE:
FAIRLY GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial
conditions. Taking into consideration of SC’s good background, 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.47.81 |
|
UK Pound |
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
RATING EXPLANATIONS
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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 |
|
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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.