MIRA
INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SUMEC YANGZHOU INTERNATIONAL CO., LTD. |
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Registered Office : |
No. 125 South Daxue Road, Yangzhou Jiangsu Province 225009
Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.12.1992 |
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Com. Reg. No.: |
321091000001355 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing importing and exporting mechanical equipment, instrumentation and other products, etc. |
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No. of Employees : |
50 |
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 : |
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
SUMEC YANGZHOU INTERNATIONAL CO., LTD.
NO. 125 SOUTH DAXUE ROAD, YANGZHOU
JIANGSU PROVINCE 225009 PR CHINA
TEL: 86 (0) 514-84558458/87330651
FAX: 86 (0) 514-84558458
EXECUTIVE SUMMARY
Date of Registration : december 22, 1992
REGISTRATION NO. : 321091000001355
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 5,000,000
staff :
50
BUSINESS CATEGORY : trading
Revenue :
CNY 167,394,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 9,256,000 (AS OF DEC. 31, 2010)
WEBSITE : www.yamec.com
E-MAIL :
N/A
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 100,000
MARKET CONDITION : average
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.32 = 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.: 321091000001355 on December 22, 1992.
SC’s Organization Code Certificate No.:
14071978-9
SC’s registered capital: cny 5,000,000
SC’s paid-in capital: cny 5,000,000
Registration Change Record:
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 |
|
Sumec Complete Equipment & Engineering
Co., Ltd. |
16.67 |
|
Jiangsu Sumeida Marine Engineering Co.,
Ltd. |
16.67 |
|
Sumec International Technology Co., Ltd. |
16.67 |
|
Sumec Machinery & Electric Co., Ltd. |
16.66 |
|
Sumec Textile & Light Industry Co.,
Ltd. |
16.66 |
|
Sumec Hardware & Tools Co., Ltd. |
16.67 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
He Wei |
|
Director |
Zhang Geling |
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Supervisor |
Tian Zheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Sumec Complete Equipment & Engineering
Co., Ltd. 16.67
Jiangsu Sumeida Marine Engineering Co., Ltd. 16.67
Sumec International Technology Co., Ltd. 16.67
Sumec Machinery & Electric Co., Ltd. 16.66
Sumec Textile & Light Industry Co., Ltd. 16.66
Sumec Hardware & Tools Co., Ltd. 16.67
Sumec Complete Equipment & Engineering Co.,
Ltd.
==================================================
Date of Registration: December 26,
1997
Registration No.: 320000000010969
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 33,500,000
Sumec International Technology Co., Ltd.
==================================
Date of Registration: March 12,
1999
Registration No.: 320000000012887
Legal Form: Limited Liabilities
Company
Registered Capital: CNY
70,000,000
Sumec Machinery & Electric Co., Ltd.
===============================
Date of Registration: December 26, 1997
Registration No.: 320000000010977
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 32,000,000
Sumec Textile & Light Industry Co., Ltd.
================================
Date of Registration: December 26,
1997
Registration No.: 320000000010985
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 63,000,000
Sumec Hardware & Tools Co., Ltd.
=============================
Date of Registration: December
26, 1997
Registration No.: 3200001103847
Legal Form: Limited Liabilities
Company
Registered Capital: CNY
42,000,000
MANAGEMENT
He Wei Legal Representative, Chairman and General
Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 57
Ø
ID# 32100219550304121X
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Zhang Geling , Director
------------------------------------------
Ø
Gender: M
Ø
Age: 55
Ø
ID# 320105195705230012
Tian Zheng (田政), Supervisor
----------------------------------------
Ø
Gender: M
Ø
Age: 37
Ø
ID# 320104197505160817
BUSINESS OPERATION
SC’s registered business scope includes manufacturing
importing and exporting mechanical equipment, instrumentation and other
products, importing and exporting technology, affecting manufacturing business
of Chinese foreign equity joint venture and Chinese foreign contractual joint
venture; operating and acting as an agent of importing and exporting various
kinds of commodities and technology, excluding the goods forbidden by the
government; processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter trade & transit trade; conduct
compensation trade business, foreign trade business advisory services,
commodity exhibition, with the main business-related technical consulting
services, goods of domestic sales.
SC is mainly
engaged in international trade.
SC’s products
mainly include:
Auto
Parts
Electric
Appliance
Hardware
Sanitary
Ware
Welding
Material
Tractor
Etc.
SC sources its materials 100% from domestic
market, mainly Jiangsu. SC sells 100% of its products to overseas market,
mainly USA, Europe and Southeast Asia.
The buying terms
of SC include T/T and Credit of 30-60 days. The payment terms of SC include L/C
and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 50 staff at
present.
SC owns an area as
its operating office of approx. 600 sq. meters at the heading address.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
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 |
44,079 |
48,076 |
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|
------------- |
------------- |
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Long term liabilities |
0 |
0 |
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Total
liabilities |
35,209 |
38,820 |
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Equities |
8,870 |
9,256 |
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------------- |
------------- |
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Revenue |
183,781 |
167,394 |
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Profit before
tax |
908 |
907 |
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Less: profit tax |
379 |
263 |
|
Profits |
529 |
644 |
Note: The detailed financials for Y 2009 and Y2010 are not filed in
SAIC.
Important Ratios
=============
|
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.80 |
0.81 |
|
*Net profit
margin (%) |
0.29 |
0.38 |
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*Return on total
assets (%) |
1.20 |
1.34 |
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*
Revenue/Total assets |
4.17 |
3.48 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears fairly good in its line.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average 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 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 100,000 would appear to be
within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.13 |
|
|
1 |
Rs.77.85 |
|
Euro |
1 |
Rs.64.75 |
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.