MIRA INFORM REPORT

 

 

Report Date :

03.02.2012

 

IDENTIFICATION DETAILS

 

Name :

TRUKING TECHNOLOGY LIMITED

 

 

Registered Office :

10/F, Xinshiji Building, No. 198 Furong Center Road Changsha, Hunan Province 410015 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

08.11.2002

 

 

Com. Reg. No.:

430124000003013

 

 

Legal Form :

Shares Limited Company

 

 

Line of Business :

Manufacturing and selling medicine and food packaging machinery.

 

 

No. Of Employees :  

1123

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1,500,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

TRUKING TECHNOLOGY LIMITED

10/F, XINSHIJI BUILDING, NO. 198 FURONG CENTER ROAD

CHANGSHA, HUNAN PROVINCE 410015 PR CHINA

TEL: 86 (0) 731-85122336

FAX: 86 (0) 731-85131426

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : november 8, 2002

REGISTRATION NO.                  : 430124000003013

LEGAL FORM                           : Shares limited company

CHIEF EXECUTIVE             : tang yue (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 66,000,000

staff                                      : 1,123

BUSINESS CATEGORY             : manufacturing

Revenue                                : CNY 352,613,000 (AS OF DEC. 31, 2010)

EQUITIES                                 : CNY 157,629,000 (AS OF DEC. 31, 2010)

WEBSITE                                 : www.truking.cn

E-MAIL                                     : admin@truking.cn

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 6.36 = 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 on November 8, 2002. However, SC changed to present legal form, and was registered as shares limited company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 430124000003013 in 2011.

 

SC’s Organization Code Certificate No.: 74317629-3

SC’s registered capital: cny 66,000,000

 

SC’s paid-in capital: cny 66,000,000

 

Registration Change Record:

Date

Change of Contents

Before the change

After the change

2007-12

Registration No.

4301242000439

430124000003013

Shareholders (% of Shareholding)

Tang Yue  34.00%

Zeng Fanyun 12.00%

Yang Wenlu 10.50%

Yang Niansheng 10.00%

Zhou Feiyue 7.00%

Lei Songshan 7.00%

Liu Zhen 7.00%

Other individuals 12.50%

Tang Yue47.00%

Zeng Fanyun 12.00%

Yang Wenlu 10.50%

Zhou Feiyue 7.00%

Liu Zhen 7.00%

Other 10 individuals 16.50%

2011

Company Name

Changsha Chutian Science & Technology Co., Ltd.

Truking Technology Limited

Legal Form

Limited Liabilities Company

Shares Limited Company

Registered Capital

CNY 10,000,000

CNY 66,000,000

Shareholders (% of Shareholding)

Tang Yue 47.00%

Zeng Fanyun 12.00%

Yang Wenlu 10.50%

Zhou Feiyue 7.00%

Liu Zhen 7.00%

Other 10 individuals 16.50%

Changsha Truking Investment Co., Ltd. 81.09%

Hainan Hansen Investment Co., Ltd. 9.09%

Chen Yanjun 0.46%

Tang Yue 1.00%

Zeng Fanyun 1.00%

Yang Wenlu 1.36%

Zhou Feiyue 1.36%

Liu Zhen 1.00%

Liu Guilin 0.46%

Li Xinhua 0.23%

Tang Bosen 0.46%

Deng Wen 0.46%

Li Gang 0.45%

He Changbao 0.45%

Qiu Yongmou 0.45%

Sun Julei 0.45%

Zhang Yihuan 0.23%

 

Current Co search indicates SC’s shareholders & chief executives are as follows:-

 

Name of Shareholder (s)

% of Shareholding

Changsha Truking Investment Co., Ltd.

81.09

Hainan Hansen Investment Co., Ltd.

9.09

Chen Yanjun

0.46

Tang Yue

1.00

Zeng Fanyun

1.00

Yang Wenlu

1.36

Zhou Feiyue

1.36

Liu Zhen

1.00

Liu Guilin

0.46

Li Xinhua

0.23

Tang Bosen

0.46

Deng Wen

0.46

Li Gang

0.45

He Changbao

0.45

Qiu Yongmou

0.45

Sun Julei

0.45

Zhang Yihuan

0.23

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative, Chairman, and General Manager

Tang Yue

Deputy General Manager

Zhang Yihuan

Zeng Fanyun

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                             

% of Shareholding

Changsha Truking Investment Co., Ltd.

81.09

Hainan Hansen Investment Co., Ltd.

9.09

Chen Yanjun

0.46

Tang Yue

1.00

Zeng Fanyun

1.00

Yang Wenlu

1.36

Zhou Feiyue

1.36

Liu Zhen

1.00

Liu Guilin

0.46

Li Xinhua

0.23

Tang Bosen

0.46

Deng Wen

0.46

Li Gang

0.45

He Changbao

0.45

Qiu Yongmou

0.45

Sun Julei

0.45

Zhang Yihuan

0.23

 

 

 

 

*         Changsha Truking Investment Co., Ltd.:

================================

Date of Registration: September 16, 2010

Registration No.: 430124000026672

Legal Form: Limited Liabilities Company

Chief Executive: Tang Yue

Registered Capital: CNY 20,600,000

 

 

*         Hainan Hansen Investment Co., Ltd.

==============================

Date of Registration: October 18, 1999

Registration No.: 469002000003963

Legal Form: Limited Liabilities Company

Chief Executive: Liu Ling’an

Registered Capital: CNY 10,000,000

 

 

MANAGEMENT

 

Tang Yue , Legal Representative, Chairman and General Manager

----------------------------------------------------------------------------------------------

Ø         Gender: M

Ø         Age: 48

Ø         ID# 432930196306080012

Ø         Qualification: University

Ø         Working experience (s):

 

Before 2002, worked in Qiyang Chutian Mechatronics Company as general manager;

From 2002 to present, working in SC as legal representative, chairman and general manager

 

 

Deputy General Manager

----------------------------------

Zhang Yihuan

Zeng Fanyun

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes researching, developing, manufacturing and selling medicine and food packaging machinery and other common machinery; importing and exporting various goods and technology, excluding the goods forbidden by the government, in accordance with the license.

 

SC is mainly engaged in manufacturing and selling medicine and food packaging machinery.

 

Brand: TRUKING

 

SC’s products mainly include:

ALX Ampoule Compact Line

AJDZ Ampoule Light-auto Inspection Machine

KLX Vial Compact Line

KLXF Vial Powder Compact Line

YXL Oral Liquid Compact Line

ALXL New Shape Ampoule Compact Line

SRD Non-PVC Film Softbag Line

SRS Non-PVC Film Double-Chamber Softbag Line

SRDF Non-PVC Film Multi-Chamber Softbag Line

SLX Glass bottle Infusion Line

  

SC sources its materials 80% from domestic market, and 20% from the overseas market. SC sells 80% of its products in domestic market, and 20% to the overseas market, mainly India, Bangladesh, Pakistan, Uzbekistan, Indonesia, Vietnam, South Korea, etc.

 

The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days. The payment terms of SC include T/T, L/C and Credit of 30-60 days.

 

*Major Customers:

==============

Yangtze River Pharmaceutical Group Co., Ltd.

Harbin Pharmaceutical Group Co., Ltd.

Yunnan Baiyao Group Co., Ltd.

Livzon Pharmaceutical Group Inc.

 

Staff & Office:

--------------------------

SC is known to have approx. 1,123 staff at present.

 

SC owns an area as its operating office of approx. 1,000 sq. meters at the heading address. SC owns a factory in Ningxiang Development Zone No. 1 Xinkang Road, Yutan Town Ninxiang Chandsha China 410600, China with the total premise approx. 198,000 square meters.

 

 

 

 

 

 

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

 

Basic Bank:

 

Bank of China Ningxiang Sub-branch

 

AC#: 63050304208091001

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2010

Long term investment

1,395

Total assets

419,660

 

-------------

Long term liabilities

55,250

Total liabilities

262,031

Equities

157,629

 

-------------

Revenue

352,613

Profit before tax

63,604

Less: profit tax

9,820

Profits

53,784

 

Note: The detailed financials for Y2010 are not available in SAIC.

 

Important Ratios

=============

 

As of Dec. 31, 2010

*Liabilities to assets

0.62

*Net profit margin (%)

15.25

*Return on total assets (%)

12.82

* Revenue/Total assets

0.84

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: FAIRLY GOOD

l         The revenue of SC appears fairly good in its line.

l         SC’s net profit margin is fairly good.

l         SC’s return on total assets is fairly good.

 

LIQUIDITY: AVERAGE

l         SC’s revenue is in an average level, comparing with the size of its total assets.

 

LEVERAGE: AVERAGE

l         The debt ratio of SC is low.

l         The risk for SC to go bankrupt is average.

 

Overall financial condition of the SC: Stable.

 

 

CONCLUSIONS

 

SC is considered large-sized in its line with stable financial conditions. 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.49.13

UK Pound

1

Rs.77.85

Euro

1

Rs.64.78

 

 

RATING EXPLANATIONS

 

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

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.