MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANTOU HUAYING SOFT-PACKING EQUIPMENT PLANT
LTD. |
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Registered Office : |
B2-B4, Block 9, Jinyuan Industry Zone, Chaoshan Road, Shantou City, Guangdong Province, 515064 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010
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Date of Incorporation : |
08.10.1984 |
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Com. Reg. No.: |
4405081013168 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and Selling Packing Machinery |
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 100,000 |
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Status : |
Satisfactory |
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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) |
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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
Shantou Huaying Soft-packing Equipment Plant Ltd.
b2-b4, block 9,
jinyuan industry zone, chaoshan road,
shantou city, GUANGDONG
PROVINCE, 515064 PR CHINA
TEL: 86 (0)
754-88117818/88226231 FAX: 86 (0)
754-
88226282
EXECUTIVE SUMMARY
INCORPORATION DATE : oct. 8, 1984
REGISTRATION NO. : 4405081013168
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 120
REGISTERED CAPITAL :
CNY 6,000,000
BUSINESS LINE : MANUFACTURING AND
SELLING
TURNOVER :
CNY 48,064,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 16,401,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.39=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 Ren Min Bi
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 Oct. 8, 1984.
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 processing and manufacturing packing machinery, electric
drive complete equipment, machinery parts and electric appliances; import and
export goods and technology (excluding those prohibited by the law and
administrative regulations, the project that limited by the law and
administrative regulations should operated with permits).
SC is mainly
engaged in manufacturing and selling packing machinery.
Mr. Xu Peng is the legal representative, chairman and general manager
of SC at present.
SC is
known to have approx. 120 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone
of Shantou. Our checks reveal that SC owns the total premise about
10,000 square meters.
http://www.hyspe.com/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: sales@hyspe.com
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
1995-07 |
Company name |
Shantou Shengping Electrical Transmission
Equipment Factory (Literal Translation) |
Shantou Huaying Soft-packing
Equipment Plant |
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1997-05 |
Registered
capital |
CNY
650,000 |
CNY 4,070,000 |
|
2000-06 |
Company name |
Shantou Huaying
Soft-packing Equipment Plant |
Present one |
|
Registered
capital |
CNY 4,070,000 |
Present amount |
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|
2004-07 |
Registration No. |
4405091003168 |
Present one |
MAIN
SHAREHOLDERS:
Name
% of
shareholdings
Xu Peng ID#
440504550426161 68.5
Liu Ling ID# 440504551118162 31.5
l
Legal Representative, Chairman& General
Manager:
Mr. Xu Peng, born in 1955, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager.
SC is mainly
engaged in manufacturing and selling packing machinery.
SC’s products
mainly include Roto (Flexo) printing press, laminating machine, special (paper)
coating machine and bag making machine, etc.
SC sources its materials 100%
from domestic market. SC sells 70% of its products in domestic market and 30%
to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60
days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
SC is known to have the following subsidiaries:
· No. 1 Branch Company
· No. 2 Branch Company
· No. 3 Branch Company
· Xianxing Branch Factory
Etc.
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 records 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.
SC’s bank detail was not found in local AIC.
Unit: CNY’000
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As
of Dec. 31, 2010 |
As of
Dec. 31, 2009 |
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Total
liabilities |
29,890 |
21,965 |
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Equity |
16,401 |
14,504 |
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---------- |
---------- |
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Total assets |
46,291 |
36,469 |
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========= |
========= |
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Turnover |
48,064 |
47,671 |
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Profit before
tax |
2,650 |
2,309 |
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Less: profit tax |
323 |
300 |
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Profits |
2,327 |
2,009 |
Note: SC’s detailed financial reports were not found during our checks
with local AIC.
Important
Ratios
=============
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2009 |
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*Current ratio |
/ |
/ |
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*Quick ratio |
/ |
/ |
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*Liabilities
to assets |
0.65 |
0.60 |
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*Net profit
margin (%) |
4.84 |
4.21 |
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*Return on
total assets (%) |
5.03 |
5.51 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
/ |
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*Turnover/Total
assets |
1.04 |
1.31 |
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* Cost of
goods sold/Turnover |
/ |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in both 2 years.
l
SC’s net profit margin appears average in both 2
years.
l
SC’s return on total assets appears fairly good in
both 2 years.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in both 2 years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. It is considered a credit line up to USD
100,000 appears to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.81 |
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UK Pound |
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
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.