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MIRA
INFORM REPORT
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Report Date : |
12.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ThyssenKrupp
Escalator Co. (China) Ltd |
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Registered Office : |
Century road, torch high tech
industrial development zone Zhongshan city, guangdong province 528437 pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.03.2006 |
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Com. Reg. No.: |
442000400015665 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and selling various passenger elevators, moving
pavement, passenger boarding bridges, and the related components and
accessories. |
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No. of Employees : |
1500 |
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 : |
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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 |
|
Risk Category |
ECGC
Classification |
|
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
ThyssenKrupp
Escalator Co. (China) Ltd
century
road, torch high tech industrial development zone
zhongshan
city, guangdong province 528437 PR CHINA
TEL: 86
(0) 760-88165888/88165705
FAX: 86
(0) 760-88165888
EXECUTIVE SUMMARY
Date of Registration : march 28, 2006
REGISTRATION NO. : 442000400015665
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL :
usd 14,800,000
staff : 1,500
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 919,720,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 234,280,000 (AS OF DEC. 31, 2010)
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD 3,000,000
MARKET CONDITION : competitive
FINANCIAL CONDITION :
fairly good
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
fairly good
EXCHANGE RATE : CNY 6.31= USD
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 wholly foreign-owned enterprise of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 442000400015665 on March 28, 2006.
SC’s Organization Code Certificate
No.: 78578971-7
%20LTD%20-%20165774%2012-Jan-2012_files/image005.jpg)
SC’s registered capital: usd 14,800,000
SC’s paid-in capital: usd 14,800,000
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 |
|
ThyssenKrupp (China) Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Carsten
Rockholtz |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
ThyssenKrupp (China) Ltd. 100
*ThyssenKrupp (China) Ltd.
================================================
2/F China Life Tower, 16
Chaoyangmenwai AvenueBeijing 100020
Mr. Alfred Wewers
Mr. Gerd-H. Kohl
Phone: +86 (10) 8525 2999
Fax: +86 (10) 8525 2161
E-Mail: thyssenkrupp@thyssenkrupp.com.cn
*ThyssenKrupp
============
ThyssenKrupp is one of the world's biggest
technology groups. More than 190,000 employees worldwide work in the Group's
main areas of steel, capital goods and services, realizing sales of more than
€51 billion in fiscal 2006/2007.
MANAGEMENT
Carsten Rockholtz, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2006 to present, working in SC as legal representative,
chairman and general manager
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling various passenger elevators, moving pavement, passenger boarding
bridges, and the related components and accessories; international trade;
wholesales, import & export, and commission agency business for the above
commodities.
SC is
mainly engaged in manufacturing and selling various passenger elevators, moving
pavement, passenger boarding bridges, and the related components and
accessories.
Brand:
THYSSENKRUPP
SC’s products
mainly include:
Passenger
elevators
Moving pavement
Passenger boarding
bridges,
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 60% of its products in domestic
market, and 40% to overseas market, mainly Southeast Asia.
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.
*Major Competitors:
===============
Sigma
Elevator Co., Ltd.
Shanghai
Mitsubishi Elevator Co., Ltd.
Guangzhou
Guangri Elevator Industry Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 1,500
staff at present.
SC
owns an area as its operating office & factory of approx. 51,375 sq. meters
at the heading address.
RELATED COMPANY
n
ThyssenKrupp Elevators (Shanghai) Co., Ltd.
n
Thyssenkrupp Presta Dalian Co., Ltd.
Etc.
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 local SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
191,950 |
235,600 |
|
|
Accounts
receivable |
169,660 |
159,870 |
|
Advances to
suppliers |
0 |
0 |
|
Other receivable |
5,310 |
7,220 |
|
Inventory |
92,890 |
101,040 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
1,420 |
21,320 |
|
|
------------------ |
------------------ |
|
Current assets |
461,230 |
525,050 |
|
Fixed assets |
35,030 |
31,720 |
|
Construction in
progress |
160 |
4,740 |
|
Intangible
assets |
0 |
0 |
|
Long-term
prepaid expenses |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other non-current
assets |
77,010 |
47,490 |
|
|
------------------ |
------------------ |
|
Total assets |
573,430 |
609,000 |
|
|
============= |
============= |
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Short-term loans |
0 |
0 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
158,360 |
182,650 |
|
Taxes payable |
4,870 |
5,570 |
|
Advances from
clients |
20,940 |
13,450 |
|
Other payable |
820 |
890 |
|
Other current
liabilities |
182,770 |
172,160 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
367,760 |
374,720 |
|
Non-current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
367,760 |
374,720 |
|
Equities |
205,670 |
234,280 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
573,430 |
609,000 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
919,720 |
|
Cost of sales |
767,500 |
|
Sales expense |
8,480 |
|
Management expense |
41,240 |
|
Finance expense |
-620 |
|
Profit before
tax |
107,600 |
|
Less: profit tax |
13,450 |
|
94,150 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.25 |
1.40 |
|
*Quick ratio |
1.00 |
1.13 |
|
*Liabilities
to assets |
0.64 |
0.62 |
|
*Net profit
margin (%) |
-- |
10.24 |
|
*Return on
total assets (%) |
-- |
15.46 |
|
*Inventory /
Revenue ×365 |
-- |
41 days |
|
*Accounts
receivable/ Revenue ×365 |
-- |
64 days |
|
*
Revenue/Total assets |
-- |
1.51 |
|
* Cost of sales
/ Revenue |
-- |
0.83 |
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.
l
SC’s cost of goods sold is average, comparing with
its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in both years.
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: Fairly good.
CONCLUSIONS
SC is considered large-sized in its line with
fairly good financial conditions. A credit line up to USD 3,000,000 would appear to be within
SC’s capacities
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.75 |
|
|
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.65.99 |
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.