MIRA
INFORM REPORT
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Report Date : |
17.02.2012 |
IDENTIFICATION DETAILS
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Name : |
CHINA NATIONAL MINERALS CO., LTD. |
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Registered Office : |
5/F, Block B, No. 5, Sanlihe Road, Haidian
District, Beijing, 100044 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.05.1987 |
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Com. Reg. No.: |
110000005005284 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in import & export different sorts of minerals |
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No. of Employees : |
200 |
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 8,000,000 |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name and address
CHINA NATIONAL MINERALS CO., LTD.
5/F, Block B, NO.
5, SANLIHE ROAD,
HAIDIAN DISTRICT,
BEIJING, 100044 PR CHINA
TEL: 86 (0)
10-68494308/68494563 FAX: 86 (0)
10-68494580
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 30, 1987
REGISTRATION NO. : 110000005005284
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 200
REGISTERED CAPITAL : CNY 900,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 51,625,033,000 (AS OF DEC. 31,
2010)
EQUITIES : CNY 1,846,872,000 (AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 8,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE : CNY 6.3013 = 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 State-owned enterprise at national
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on May 30, 1987 and has been under present
ownership since 1999.
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 retailing coal; processing with stainless steel
products (limited to operate in branch); affecting overseas mineral,
metallurgy, mechanical & electrical engineering and domestic international
bidding engineering; exporting equipment and materials the above overseas
project needed; labor service for overseas engineering; import & export of
ferrous metal, non ferrous metal, and non-metallic mineral products; affecting
Chinese-foreign equity joint venture enterprises and Chinese-foreign
contractual joint venture enterprises,
processing with imported materials; processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter
trade, transit trade and barter; import & export; selling coke, ferrous
metal, non ferrous metal, non-metallic
mineral products and chemical products (excluding hazardous chemicals and a
class of precursor chemicals); Economic information consulting (excluding
intermediary); metallic materials, metallurgical burden, hardware, auto parts,
electrical and mechanical equipment; information consulting (excluding
intermediary); warehousing services.
SC is mainly
engaged in import & export different sorts of minerals.
Mr. Liu
Leiyun has been legal representative,
chairman and general manager of SC since 2009.
SC is known
to have approx. 200 employees at present.
SC
is currently operating at the above stated address, and this address houses its
head office in the commercial zone of Beijing. Our checks reveal that SC owns
the total premise about 2,000 square meters.
http://minerals.minmetals.com.cn
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: yclbk@minmetals.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
1994-3 |
Legal representative |
Zhao Chuanxi |
Huang Aihua |
|
Unknown |
Legal representative |
Huang Aihua |
Zhang Zhigang |
|
1999 |
Company name |
China Minerals Import & Export Corporation |
China Minerals Import & Export Co., Ltd. |
|
Legal representative |
Zhang Zhigang |
Gao Fulai |
|
|
Legal form |
State-owned Enterprise |
Limited Liabilities Co. |
|
|
Registered capital |
CNY 19,512,700 |
CNY 25,200,000 |
|
|
2000-11 |
Legal representative |
Gao Fulai |
Zhang Yuanrong |
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2001-5 |
Zhang Yuanrong |
Feng Guiquan |
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|
2004-9 |
Legal representative |
Feng Guiquan |
He Jianzeng |
|
2004-11 |
Company name |
China Minerals Import & Export Co., Ltd. |
Present one |
|
2007-1 |
Registered capital |
CNY 25,200,000 |
CNY 259,538,514 |
|
2007-7 |
Registration no. |
1100001500528 |
Present one |
|
2009-5 |
Legal representative |
He Jianzeng |
Present one |
|
2010-3 |
Registered capital |
CNY 259,538,514 |
Present amount |
|
Shareholding |
Minmetals Development Co., Ltd. 98.06% Minmetals Steel Co., Ltd. 1.94% |
Minmetals Development Co., Ltd. 99.44% Minmetals Steel Co., Ltd. 0.56% |
Honors and
certificates:
State Administration of Taxation Top 50,
Certificate of Enterprise Credit Grade
Etc.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Minmetals Development Co., Ltd. 99.44
Minmetals Steel Co., Ltd. 0.56
Minmetals Development Co., Ltd.
==========================
Minmetals Development Co., Ltd. was solely set up by China Minmetals
Corp, with registration date on May 21st, 1997 and IPO on May 28th of the same
year as A Shares on Shanghai Stock Exchange (stock code: 600058). At the
initial stage, the total number of shares was 300 million, among which China
Minmetals Corp. held 225 million shares or 75% and other shareholders held 75
million shares or 25%. On March 29th, 2006, the Company fulfilled the
non-tradable share reform. Currently, the total number of shares is 827
million, among which China Minmetals Corp. holds 523 million restricted shares,
equivalent to 63.22%, while unrestricted shares are 304 million, accounting for
36.78%.
Incorporation date: May 21, 1997
Registration number: 110000001200801
Registered capital: CNY 1,071,910,711
Legal representative: Zhou Zhongshu
Legal form: Shares Limited Co.
Tel: 86-10-68494206/ 68494267
Fax: 010-68494207
Web: http://www.minlist.com.cn/
Add: Block B, No. 5, Sanlihe Road, Haidian
District, Beijing, PR China
Minmetals Steel Co., Ltd.
==================
Minmetals Steel Co., Ltd., subordinate to
China Minmetals Corporation and majoring in steel import & export and its
domestic trade, is China’s biggest steel trading enterprise.
Minmetals Steel Co., Ltd. was established in
January 1997, based on the former Steel Import Department of China National
Metals and Minerals Import and Export Corporation and under the approval of the
Ministry of Foreign Trade and Economic Corporation and the related government
sectors.
Incorporation date: Jan. 17, 1997
Registration number: 110000001144148
Registered capital: CNY 900,000,000
Legal representative: Yao Ziping
Tel: 010-6849-4014/68494812
Fax: 010-6849-4840/68315155
Website: http://steel.minmetals.com.cn/
l
Legal representative, Chairman and General Manager:
Mr. Liu Leiyun , ID# 110108196507281411, born
in 1965, with university education. He is currently responsible for the overall
management of SC.
Working Experience(s):
From 2009 to present Working in SC as
legal representative, chairman, general manager.
Also working in Minmetals Trading Co., Ltd. and
Minmetals (Hunan) Ferro-Alloys Co., Ltd. as legal representative.
l
Directors:
He Yu ID#
610423197009091319
Wang Feng ID# 110105660606415
l
Supervisor:
Ren Jianhua ID#
110108631128005
SC is mainly engaged
in import & export different sorts of minerals.
SC’s products mainly include coal, ferro-alloys, bauxite, fluorspar,
barite, and so on.
SC sources its materials 30% from domestic
market, and 70% from overseas market. SC sells 80% of its products in domestic
market, and 20% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
SC is known to invest the following companies:
Minmetals Trading Co., Ltd.
===================
Incorporation date: July 28, 1988
Registration number: 110000005006814
Registered capital: CNY 33,662,360
Legal representative: Liu Leiyun
Minmetals Engineering Co., Ltd.
======================
Incorporation date: Dec. 7, 2007
Registration number: 110000010678444
Registered capital: CNY 80,000,000
Legal representative: He Liu
Tel: 86-10-88576488/68494334
Minmetals
(Hunan) Ferro-Alloys Co., Ltd.
===============================
Incorporation date: April 26, 2007
Registration number: 430381000002528
Registered capital: CNY 286,380,000
Legal representative: Liu Leiyun
Tel: 86-731-56806847
Fax: 86-731-56806425
Website: http://www.minmetalsht.com/
E-mail: zuokq.hun@minmetals.com
Minmetals
Lanzhou Heqiao Resource Co., Ltd.
==================================
Incorporation date: Jan. 11, 2005
Registered capital: CNY 29,000,000
Legal representative: Li Songxiang
Tel: 86-931-8441278
Fax: 86-931-8441279
Mintal
Group Co., Ltd.
==================
Registration
number: 150200400000963
Tel:
86-472-6976699/2170751
Datong
Tongmei Minmetals Coal Preparation Co., Ltd
Minmetals
(Yingkou) Trading Co., Ltd.
==========================
Incorporation date: August 2, 2007
Registration number: 210800004015536
Registered capital: CNY 1,500,000
Legal representative: Wei Tao
Tel: 86-417-6141295/6263640
Beijing Haohua Energy Co., Ltd.
=========================
Incorporation date: Dec. 31, 2002
Registration number: 110000005219835
Registered capital: CNY 999,998,560
Legal representative: Geng Yangmou
Tel: 86-10-69839418
Fax: 86-10-69839418
Website: http://www.bjhhny.com/
E-mail: hhny@bjhhny.com
Etc.
Branches:
China
National Minerals Co., Ltd. Liaoning Branch
===================================
Incorporation date: July 1, 2005
Registration number: 210000004941472
Principal:
Legal form: Branch Company
Tel: 86-24-62491139
China
National Minerals Co., Ltd. Chengdu Branch
=====================================
Registration number: 510106000136867
Principal:
Legal form: Branch Company
Tel:
86-28-66640825/83142868/83143068
China
National Minerals Co., Ltd. Foshan Branch
====================================
Incorporation date: August 25, 2005
Registration number: 440600000011149
Principal:
Legal form: Branch Company
Tel: 86-757-83879850/83315066
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 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
Head Office
AC#:
00093608091001
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31, 2010 |
|
Cash & bank |
391,614 |
|
Notes receivable |
257,902 |
|
Inventory |
6,288,533 |
|
Accounts
receivable |
381,737 |
|
Advances to
supplies |
1,510,038 |
|
Dividends
receivable |
1,141 |
|
Other
receivables |
2,883,768 |
|
Other current assets |
0 |
|
|
------------------ |
|
Current assets |
11,714,733 |
|
Long-term
accounts receivable |
11,000 |
|
Long-term equity
investments |
105,624 |
|
Fixed assets net
value |
17,697 |
|
Projects under
construction |
0 |
|
Long-term deferred
expenses |
5,253 |
|
Deferred income
tax assets |
97,421 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
11,951,728 |
|
|
============= |
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Short loans |
4,322,126 |
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Notes payable |
935,439 |
|
Accounts payable |
1,458,718 |
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Advances from
customers |
1,844,694 |
|
Employee payable |
84,130 |
|
Taxes payable |
140,242 |
|
Interest payable |
27,786 |
|
Other accounts
payable |
265,203 |
|
Other current
liabilities |
0 |
|
|
----------------- |
|
Current
liabilities |
9,078,338 |
|
Long term
liabilities |
1,026,518 |
|
|
------------------ |
|
Total
liabilities |
10,104,856 |
|
Shareholders
equities |
1,846,872 |
|
|
------------------ |
|
Total
liabilities & equities |
11,951,728 |
|
|
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31, 2010 |
|
Turnover |
51,625,033 |
|
Cost of goods
sold |
49,808,413 |
|
Taxes and
additional of main operation |
291,726 |
|
Sales expense |
426,728 |
|
Management expense |
226,759 |
|
Finance expense |
-241,323 |
|
Asset impairment loss |
182,587 |
|
Investment
income |
-925 |
|
Non-operating
income |
2,961 |
|
Non-operating expense |
240 |
|
Profit before
tax |
931,939 |
|
Less: profit tax |
241,017 |
|
Net profit |
690,922 |
Important Ratios
=============
|
|
as of Dec. 31,
2010 |
|
*Current ratio |
1.29 |
|
*Quick ratio |
0.60 |
|
*Liabilities
to assets |
0.85 |
|
*Net profit
margin (%) |
1.34 |
|
*Return on
total assets (%) |
5.78 |
|
*Inventory
/Turnover ×365 |
45 days |
|
*Accounts
receivable/Turnover ×365 |
3 days |
|
*Turnover/Total
assets |
4.32 |
|
* Cost of
goods sold/Turnover |
0.96 |
PROFITABILITY: FAIRLY GOOD
l
The turnover of SC appears good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
l
SC’s cost of goods sold is high, comparing with its
turnover.
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 fairly large.
l
The accounts receivable of SC appears small.
l
SC’s short-term loan appears large.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is low.
Overall financial condition of the SC:
Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of inventory and short-term loan could be threats to
SC’s financial condition. A credit line up to USD 8,000,000 appears to be
within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.