MIRA
INFORM REPORT
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Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
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Name : |
nanyang
textile Co., Ltd. |
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Registered Office : |
Mazhen Village, Xiake Town, Jiangyin, Jiangsu Province,
214406 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.05.1997 |
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Com. Reg. No.: |
320281000040136 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling painted master batch |
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No. of Employees : |
300 |
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 150,000 |
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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) |
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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
nanyang
textile Co., Ltd.
Mazhen village, xiake town, jiangyin,
jiangsu PROVINCE, 214406 PR CHINA
TEL: 86 (0) 510-86528989/86529008
FAX: 86 (0) 510-86522558
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 4, 1997
REGISTRATION NO. : 320281000040136
REGISTERED LEGAL FORM :
LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. ZHU HANXIAO (CHAIRMAN)
STAFF STRENGTH : 300
REGISTERED CAPITAL :
CNY 26,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 322,000,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 22,976,000 (AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 150,000 (periodical REVIEW)
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.31= 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 limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on May 4, 1997.
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 manufacturing,
processing and selling painted master batch, chemical fiber, non-standard metal
equipment, and plastic packaging materials; chemical fiber & spinning;
selling textile raw materials (excluding seed cotton), hardware, plastic
products; import and export of various goods and technologies, excluding
commodities and technologies prohibited by country; the following business
scope is limited to operating in branches; bottle cleaning. (with permit if
needed)
SC is mainly engaged in manufacturing and selling painted
master batch.
Mr. Zhu Hanxiao has been legal representative, chairman and
general manager of SC since 1997.
SC is known to have approx. 300 employees at
present.
SC is currently operating at the above stated address, and
this address houses its operating office and factory in the industrial zone of
Jiangyin. Our checks reveal that SC owns the total premise about 8,000 square
meters.
SC is not known to host website of its own at present.
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered no. |
3202812103862 |
Present one |
|
2001-1 |
Registered capital |
CNY 733,000 |
CNY 5,000,000 |
|
2001-9 |
Company name |
Jiangyin Nanyang Metal Manufacturing Co., Ltd. |
Present one |
|
2006-4 |
Registered capital |
CNY 5,000,000 |
CNY 10,000,000 |
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Shareholders and Shareholdings |
Zhu Hanxiao 95% Gao Yiping 5% |
Xu Long7.5% Zhu Hanxiao 90% Gao Yiping 2.5% |
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2007-3 |
Shareholders and Shareholdings |
Xu Long 7.5% Zhu Hanxiao 90% Gao Yiping 2.5% |
Zhu Hanxiao 45% Zhang Xiaorong 55% |
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2007-9 |
Registered capital |
CNY 10,000,000 |
CNY 15,000,000 |
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Shareholdings |
Zhu Hanxiao 45% Zhang Xiaorong 55% |
Zhu Hanxiao 60% Zhang Xiaorong 40% |
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|
2009-12 |
Registered capital |
CNY 15,000,000 |
CNY 20,000,000 |
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Shareholdings |
Zhu Hanxiao 60% Zhang Xiaorong 40% |
Zhu Hanxiao 70% Zhang Xiaorong 30% |
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2010-1 |
Registered capital |
CNY 20,000,000 |
Present amount |
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Shareholdings |
Zhu Hanxiao 70% Zhang Xiaorong 30% |
Present ones |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Zhang Xiaorong
ID# 320219197511152282 23.08
Zhu Hanxiao
ID# 320219600609201 76.92
Legal representative, Chairman and General Manager:
Mr. Zhu Hanxiao, ID# 320219600609201, born in 1960, with
high school education. He is currently responsible for the overall management
of SC.
Working
Experience(s):
From 1997 to present Working
in SC as legal representative, chairman and general manager.
Also working in Nanyang Textile Co., Ltd. Mazhen Branch
Company and Nanyang Textile Co., Ltd. Chemical Branch Company as principal.
Supervisor:
Zhang Xiaorong ID# 320219197511152282
SC is mainly engaged in manufacturing and selling painted
master batch.
SC’s products mainly include polyester slice, polyester
fiber, terylene yarn and PET master batch, etc.
SC sources its materials 90% from domestic market and 10%
from overseas market. SC sells 50% of its products in domestic market, and 50%
to overseas market, mainly Southeast Asian 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.
Note: SC refused to release its main suppliers and
customers.
SC is known to have the following branch:
Nanyang Textile Co., Ltd. Mazhen Branch Company
Registered no.: 320281000254366
Principal: Zhu Hanxiao
Nanyang Textile Co., Ltd. Chemical Branch Company
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.
Jiangsu Jiangyin Rural Commercial Bank Huangtang Sub-branch
AC#：10110023829
Relationship: Normal.
Financial
Information
Unit: CNY’000
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|
as of Dec. 31, 2009 |
as of Dec. 31, 2010 |
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Total liabilities |
54,510 |
71,721 |
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Shareholders equities |
12,790 |
22,976 |
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Total Assets |
67,300 |
94,697 |
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Turnover |
186,890 |
322,000 |
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Profit before tax |
1,020 |
5,049 |
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Profit tax |
140 |
678 |
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Net profit |
880 |
4,371 |
Note: SC’s detailed financial reports for Yr2009 and Yr2010
were not found in local AIC.
Important
Ratios
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as of Dec. 31, 2009 |
as of Dec. 31, 2010 |
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*Liabilities to assets |
0.81 |
0.76 |
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*Net profit margin (%) |
0.47 |
1.36 |
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*Return on total assets (%) |
1.31 |
4.62 |
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*Turnover/Total assets |
2.78 |
3.40 |
PROFITABILITY:
AVERAGE
The turnover of SC appears fairly good in its line and it
increased in 2010.
SC’s net profit margin is average in both two years.
SC’s return on total assets is average in both two years.
SC’s turnover is in an average level in 2009 and fairly good
in 2010, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
The debt ratio of SC is fairly high.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable
financial conditions. A credit line up to USD 150,000 would appear to be within
SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.82 |
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|
1 |
Rs.79.42 |
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Euro |
1 |
Rs.65.90 |
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 |
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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.