%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image002.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
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Name : |
BYSTRONIC (TIANJIN) MACHINERY LTD |
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Registered Office : |
Economic Development Zone, Ninghe County,
Tianjin, 301500 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.05.1993 |
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Com. Reg. No.: |
120000400019848 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
manufacturing and selling
CNC machinery |
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No. of Employees
: |
180 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
Bystronic (Tianjin) Machinery Ltd.
economic
development zone, ninghe county,
tianjin, 301500 PR
CHINA
TEL: 86 (0)
22-69589988 FAX: 86 (0)
22-69588168
EXECUTIVE SUMMARY
INCORPORATION DATE : may 7, 1993
REGISTRATION NO. : 120000400019848
REGISTERED LEGAL
FORM : Wholly foreign-owned enterprise
STAFF STRENGTH :
180
REGISTERED CAPITAL : usd 6,096,000
BUSINESS LINE :
manufacturing
TURNOVER :
CNY 244,143,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 106,060,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 500,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.29 = 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
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image015.gif){kind=small}
SC was registered as a wholly foreign-owned enterprise at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on May 7, 1993.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered
business scope includes manufacturing and selling CNC laser processing
machines, multi-axis CNC machine tools and general sheet metal machinery.
SC is mainly
engaged in manufacturing and selling CNC machinery.
Mr. Hou He’nan is
the legal representative and chairman of SC at present.
SC is known to
have approx. 180 employees at
present.
SC is
currently operating at the above stated address, and this address houses its operating
office and factory in the economic development zone of Ninghe County. Our checks reveal that SC owns the total premise about
14,468 square meters.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image016.gif){kind=small}
http://www.bystronic.com The
website belongs to Bystronic, and it includes the contact information about SC
and its related companies. At present the web site is in Chinese, English and
other versions.
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No significant events or changes were found during our checks
with the local Administration for Industry and Commerce.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image018.gif){kind=small}
MAIN SHAREHOLDERS:
Name %
of Shareholding
(Switzerland) Bystronic Laser AG 100
Address: Industriestrasse 21, 3362 Niederoenz,
Switzerland
Tel: +41 62 956 33 33
Fax: +41 62 956 33 80
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image019.gif){kind=small}
l
Legal
representative and Chairman:
Mr. Hou He’nan, with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image020.gif){kind=small}
SC is mainly
engaged in manufacturing and selling CNC machinery.
SC’s products
mainly include: CNC laser processing machines.
SC sources its materials 40% from domestic
market, and 60% from overseas market, mainly Europe. SC sells 70% of its
products in domestic market, and 30% to overseas market, mainly Southeast Asian
market.
The buying terms of SC include 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.
Note:
SC declined to release its major suppliers and clients.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image021.gif){kind=small}
According to the website http://www.bystronic.com
Bystronic
(Shanghai) Precision Machine Co., Ltd.
Bystronic
Laser India (Pvt) Ltd.
Bystronic
Pte. Ltd. (Singapore)
Etc.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image022.gif){kind=small}
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.
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SC declined to
release its bank details, so we can’t confirm the given banking information.
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Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Cash & bank |
6,138 |
5,909 |
|
Inventory |
73,538 |
100,512 |
|
Accounts
receivable |
11,192 |
22,955 |
|
Advances to
suppliers |
3,854 |
5,521 |
|
Other
receivables |
409 |
539 |
|
Other current
assets |
199 |
796 |
|
|
------------------ |
------------------ |
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Current assets |
95,330 |
136,232 |
|
Fixed assets net
value |
40,896 |
42,427 |
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Long term
investment |
0 |
0 |
|
Projects under construction |
0 |
0 |
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Intangible and
other assets |
1,384 |
3,973 |
|
|
------------------ |
------------------ |
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Total assets |
137,610 |
182,632 |
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=========== |
=========== |
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Short loan |
19,460 |
18,875 |
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Accounts payable |
26,421 |
50,288 |
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Advances from
clients |
45 |
720 |
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Taxes payable |
1,477 |
2,657 |
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Other Accounts
payable |
95 |
68 |
|
Other current
liabilities |
6,432 |
3,964 |
|
|
------------------ |
------------------ |
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Current
liabilities |
53,930 |
76,572 |
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Long term liabilities |
0 |
0 |
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|
------------------ |
------------------ |
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Total
liabilities |
53,930 |
76,572 |
|
Equities |
83,680 |
106,060 |
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|
------------------ |
------------------ |
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Total
liabilities & equities |
137,610 |
182,632 |
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|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Turnover |
244,143 |
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Cost of goods sold |
196,496 |
|
Sales expense |
2,040 |
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Management expense |
15,826 |
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Finance expense |
-508 |
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Profit before tax |
31,308 |
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Less: profit tax |
8,928 |
|
Profits |
22,380 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.77 |
1.78 |
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*Quick ratio |
0.40 |
0.47 |
|
*Liabilities to
assets |
0.39 |
0.42 |
|
*Net profit
margin (%) |
/ |
9.17 |
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*Return on
total assets (%) |
/ |
12.25 |
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*Inventory
/Turnover ×365 |
/ |
151 days |
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*Accounts
receivable/Turnover ×365 |
/ |
35 days |
|
*Turnover/Total
assets |
/ |
1.34 |
|
* Cost of goods
sold/Turnover |
/ |
0.80 |
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image025.gif){kind=small}
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in 2010.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is fairly good in 2010.
l
SC’s cost of goods sold is average, comparing with
its turnover in 2010.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears large.
l
The accounts receivable of SC appears average.
l
The short-term loan of SC appears average.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in 2010.
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: Fairly stable.
%20MACHINERY%20LTD%20-%20168970%2009-Feb-2012_files/image026.gif){kind=small}
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of inventory could be a threat to SC’s financial
condition. A credit line up to USD 500,000 would appear to be within SC’s
capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.15 |
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 |
|
---- |
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.