MIRA
INFORM REPORT
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Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
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Name : |
YINGKOU HEPING SAMWHA MINERALS CO., LTD. |
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Registered Office : |
No. 15, Industry Street, Dashiqiao, Yingkou City, Liaoning Province, 115100 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.06.1998 |
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Com. Reg. No.: |
210800400019858 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture Enterprise |
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Line of Business : |
manufacturing, processing and selling olivine, gunning materials and
unshaped refractory materials |
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No. of Employees : |
200 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
YINGKOU HEPING SAMWHA MINERALS Co., Ltd.
NO. 15, INDUSTRY
STREET, DASHIQIAO, YINGKOU CITY,
LIAONING PROVINCE,
115100 PR CHINA
TEL: 86 (0)
417-5875572/5876272 FAX: 86 (0)
417-5875376
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 5, 1998
REGISTRATION NO. :
210800400019858
REGISTERED LEGAL FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE
ENTERPRISE
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 39,150,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 146,910,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 34,500,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : FAIRly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.3694 = 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 Renminbi
Company Status: Chinese-foreign
equity joint venture enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of capital
investment. The investing parties exercise business management, share
profits and bear all risks and liabilities of the co. together. The equity
joint venture law requires that foreign party contribute not less than 25%
of the registered capital, with no maximum. The investing parties are free
to agree on method of profit distribution and liabilities bearing according
to the proportion of capital investment. Each investing parties contributes
funds, tangible assets, technology & etc. The board of directors
excises the high authority. The joint venture usually has a limited
duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC was registered as a Chinese-foreign equity joint venture enterprise at
local Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on June 5, 1998.
SC’s registered
business scope includes permit business scope: processing and manufacturing
olivine, dolomite, boron stone, silica, jade and other varieties of ore,
processing gunning materials, bottom feeding, ramming material building
materials, unshaped refractory materials, fire clay, bauxite, graphite, resin,
aluminum powder, corundum, adhesives, slagging agent,
MgO-C bricks, alumina MgO-C
bricks, dolomite brick, iron alloys, electrodes, magnesite-chrome
brick, magnesia brick unshaped refractory materials and packaging materials,
temperature measurement, thermal insulation materials, steel processing, and
mining machinery and equipment. (excluding license management products)
(excluding the items prohibited by the state) (with permit if needed).
SC is mainly
engaged in manufacturing, processing and selling olivine, gunning materials and
unshaped refractory materials
Mr. Zhang Zhidong is legal
representative, chairman and general manager of SC at present.
SC is known
to have approx. 200 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in Yingkou. Our checks
reveal that SC owns the total premise, but the gross area of the premise is
unspecific.
http://www.mineral-china.com
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: sale@mineral-china.com
; info@mineral-china.com
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
TDD International Trading Co., Limited (Hong
Kong) 59.77
Dashiqiao Heping Mineral Material Factory 40.23
TDD International Trading Co., Limited (Hong
Kong)
=======================================
Registration no.: 1218989
Legal form: Private
Dashiqiao Heping Mineral Material Factory
================================
Registration no.: 210882004007729
Registered capital: CNY 1,100,000
Principal: Zhang Zhidong
Legal form: Sole Proprietorship enterprise
Legal
representative, Chairman and General Manager:
Mr. Zhang Zhidong, in his
Working
Experience(s):
At present Working in SC as legal representative, chairman and general manager;
Also working in Dashiqiao Heping Mineral Material Factory as principal.
Vice Chairman:
Mr. Piao Haoxing is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working in SC as vice chairman
Directors:
Chen Dasheng
Yang Shaocheng
Liu Chengsong
SC is mainly
engaged in manufacturing, processing and selling olivine, gunning materials and
unshaped refractory materials.
SC’s products mainly include refractory materials for converter, refractory
materials for EAF, refractory materials for ladle and refractory raw material
& metallurgical.
SC sources its materials 100% from domestic
market. SC sells 50% of its products in domestic market, and 50% 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 main clients and
suppliers.
SC is not known to have any subsidiary at present.
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 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.
Bank of China Yingkou Dashiqiao
Sub-branch
AC#：N/A
Relationship:
Normal
Financial
Information
Unit: CNY’000
Note:
SC’s accountant refused to release the detailed financial reports for Yr2010
and Yr2011.
Important Ratios
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as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
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*Liabilities
to assets |
0.83 |
0.83 |
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*Net profit
margin (%) |
/ |
5.12 |
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*Return on
total assets (%) |
/ |
3.69 |
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*Turnover/Total
assets |
/ |
0.72 |
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* Cost of
goods sold/Turnover |
/ |
0.77 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line
in 2011.
l
SC’s net profit margin is fairly good in 2011.
l
SC’s return on total assets is average in 2011.
l
SC’s cost of goods sold is average in 2011,
comparing with its turnover.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
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UK Pound |
1 |
Rs.86.00 |
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Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.