MIRA
INFORM REPORT
|
Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
WENRUI MACHINERY ( |
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Registered Office : |
No.287,
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Country : |
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Date of Incorporation : |
08.01.1998 |
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Com. Reg. No.: |
370700400003829 |
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|
|
Legal Form : |
Sino-foreign
joint venture |
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|
|
|
Line of Business : |
Manufacture
of paper and pulp making equipments |
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|
No. of Employees : |
800 |
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 |
|
Status : |
Satisfactory |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name
|
Wenrui Machinery (Shandong) Co Ltd |
Currency in this report is Chinese Yuan
unless otherwise stated.
Exchange Rate: 1 USD=6.35 Chinese Yuan
"--"in this report indicates
"unavailable" due to insufficient information or "no
comments"
ORDER
INFORMATION
|
name |
Wenrui Machinery (Shandong) Co Ltd |
|
address |
B 287 South Weixu Road Anqiu 262100 Shandong PR |
|
tel. |
86-536-4362288 |
|
fax |
86-536-4362807 |
Note:
Due to recent
government intervention in the AIC systems, credit reports of Chinese companies
in some regions could be impacted for a certain period. For companies
registered in Shandong, financial information couldn’t be obtained.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Jan 8th, 1998 |
|
Aic Registration No. |
370700400003829 |
|
REGISTERED LEGAL FORM |
Sino-foreign
joint venture |
|
REGISTERED CAPITAL |
USD 8,000,000.00 |
|
main BUSINESS |
Manufacture and sales of paper and pulp making
equipments. |
|
tax no. |
370784614196597 |
|
employees |
800 |
|
import and export permits |
yes |
|
credit rating |
CR3 |
|
base Credie limit |
3,000,000.00 |
|
EXCHANGE RATE |
1 Usd=6.36CNY (JUN.29th,
2012) |
|
Registered Address |
No.287, Weixu South Rd, Anqiu City, Weifang City,
Shandong Province |
|
Zip Code |
262100 |
|
|
|
|
Business Address |
No.287, Weixu South Rd, Anqiu City, Weifang City,
Shandong Province |
|
Zip Code |
262100 |
|
Telephone |
86 536 4362288 |
|
Fax |
86 536 4362807 |
|
|
|
|
SIC Code (China) |
3641 Manufacture of paper and pulp making equipments. |
REGISTRATION
|
Name (English) |
Wenrui Machinery (Shandong) Co Ltd |
|
Date of Establishment |
Jan 8th, 1998 |
|
Registry |
Administration Bureau of
Industry and Commerce –Weifang City |
|
Legal Representative |
Zhai Jingli |
|
AIC Registration
Number |
370700400003829 |
|
Registered Legal Form |
Sino-foreign joint venture |
|
Registered Capital |
USD 8,000,000.00 |
|
Operating Duration |
Jan 8th, 1998
to Jan 7th, 2048 |
|
Business Scope |
Manufacture, sales
and install of mechanical equipments that are used for environment
protection, pulp making, paper making, alkali recovery, pharmaceutical
making, food manufacturing, petroleum, chemicals, etc. |
Sino-foreign joint
venture
This form
of business in PR China is defined as a legal person. It is a limited co.
jointly invested by one or more foreign companies and one or more PR China
controlled companies within the territories of PR China according to a certain
proportion of capital investment. The investing parties exercise business
management, share profits and bear all risks and liabilities of the co.
together. The equity joint venture law requires that foreign party contribute
not less than 25% of the registered capital, with no maximum. The joint venture
usually has a limited duration of 10 to 50 years. Enterprise with large
investment, long construction periods, low investment returns, introducing of
advanced technology & advanced technology products which have good
competition position in international market may extend beyond the 50 years
limit.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
FIELD
INVESTIGATION
1. SC’s business income comes mainly from paper making and pulp washing
equipments, black liquid extracting equipments, white water recovery
equipments, slurry concentration equipments, etc. Its products are sold both
domestically and internationally. SC’s sales business is developed both
directly and indirectly to its end customers. Its clients are mainly domestic and
international paper and pulp making enterprises, distributors, etc. The
industry of paper and pulp making is an industry with fierce competition. There
are a lot of similar enterprises in the local place as SC’s competitors.
However, with long history, SC has stable purchase and marketing channels. It
has accumulated certain amount of customers and enjoys certain popularity in
domestic market. Generally speaking, SC’s competitiveness is above average in
the local industry.
2. Anqiu City, SC’s location is located in the west of Shandong Peninsula.
Its traffic condition is convenient. Anqiu City is the largest planting,
processing and export base of green Chinese onion and ginger in China. It has
developed 5 leading industries including machinery manufacture, pharmaceutical
chemicals, food processing, textile garments and building materials. In 2010,
the total fixed asset investment of Anqiu City was 13.5 billion CNY, increasing
21.7% year/year; the total production value was 18.15 billion CNY, increasing
12% year/year; the total local financial revenue was 0.605 billion CNY,
increasing 20.8% year/year. As a sino-foreign joint venture, SC enjoys certain
favorable policies provided by the local government.
SHAREHOLDERS
AND SHARES
As indicated in the following table: (Unit: USD)
|
Shareholder |
Capital
Subscribed |
Percentage |
|
SHANGHAI HEYU INVESTMENT CO. LTD |
2,349,600.00 |
29.37% |
|
ROYAL PAPER
LIMITED |
980,000.00 |
12.25% |
|
JINGUANG PAPER
(CHINA) INVESTMENT CO. LTD |
4,670,400.00 |
58.38% |
|
Total |
8,000,000.00 |
100% |
|
Shareholder |
Way of
Investment |
Paid-up
Percentage |
|
SHANGHAI HEYU INVESTMENT CO. LTD |
Capital |
100% |
|
ROYAL PAPER
LIMITED |
Capital |
100% |
|
JINGUANG PAPER
(CHINA) INVESTMENT CO. LTD |
Capital |
100% |
Background of major
shareholder
|
Name |
SHANGHAI HEYU INVESTMENT CO. LTD |
|
Address |
No. B-55, Industry
Integrated Development Zone, Shanghai City. |
|
Main business |
Enterprise
investment, investment management business, etc. |
|
|
|
|
Name |
ROYAL PAPER LIMITED |
|
Country |
Hong Kong |
|
File No. |
0945403 |
|
Date of establishment |
Jan 12th, 2005 |
|
Company Form |
Private Company |
|
|
|
|
Name |
JINGUANG PAPER
(CHINA) INVESTMENT CO. LTD |
|
Address |
8-9 Fl, Waitan
Center, No.222, Yan’an East Rd, Shanghai City. |
|
Tel |
86 21 63352222 |
|
Fax |
86 21 63618585 |
|
Main business |
Sales of pulp,
printing paper, packaging paper, office paper, etc. |
AFFILIATE(S)
|
Name |
Anqiu Wenrui Filtering
Machinery Co. Ltd |
|
Relationship with SC |
Subsidiary (According to SC’s
website) |
|
Address |
No.287, Weixu South Rd, Anqiu City, Weifang City, Shandong
Province |
|
Equipments |
-- |
|
Main business |
Development, manufacture and sales of
cereal processing machinery, filling machinery, dedusting machinery,
evaporation machinery, crystallization machinery, etc. |
MANAGEMENT
|
Name |
Zhai Jingli |
|
Gender |
Female |
|
Title |
Legal
Representative |
|
Working experience |
She is at the
same time vice president of Jinguang Paper (China) Investment Co. Ltd. |
NUMBER OF EMPLOYEES
Employees:800
Management
Staff: 50
Recent
recruitment: Yes
|
Job-hunting websites |
Job title |
Number |
|
http://jobs.zhaopin.com/qingdao/%E8%87%AA%E5%8A%A8%E5%8C%96%E6%8A%80%E6%9C%AF%E5%91%98_144484128250018.htm |
Automation technician. |
4 |
|
http://jobs.zhaopin.com/weifang/%E5%9B%BD%E9%99%85%E8%B4%B8%E6%98%93_144484128250019.htm |
International trade staff. |
6 |
|
http://jobs.zhaopin.com/weifang/%E6%9C%BA%E6%A2%B0%E8%AE%BE%E8%AE%A1_144484128250020.htm |
Machinery
designer. |
6 |
|
http://jobs.zhaopin.com/weifang/%E5%86%8D%E7%94%9F%E6%B5%86%E5%B7%A5%E8%89%BA%E6%B5%81%E7%A8%8B%E6%8A%80%E6%9C%AF%E4%BA%BA%E5%91%98_144484128250021.htm |
Pulp
regeneration technological process technician. |
3 |
BANKERS INFORMATION
|
Bank name |
Bank of
China – Anqiu Sub-branch |
|
Account No. (CNY) |
-- |
|
Tel. |
86 536
4221767 |
|
Comment |
The bank
staff confirmed SC opened an account in the bank, but refused to disclose its
account information due to bank secrecy. |
OFFICE FACILITIES
|
Geographic Location |
No.287, Weixu South Rd, Anqiu City, Weifang
City, Shandong Province |
|
Area |
200,000.00 square meters |
|
Environment |
Industrial Zone. |
|
Traffic condition |
Convenient (closed to Qinglonghu West Rd, Wenshui
North Rd, Xiangjiang Rd, etc.) |
|
Purpose |
Office/Warehousing/Factory. |
|
Property Ownership |
Unknown |
|
Other address |
-- |
WEBSITE
|
Website |
http://www.wenrui.com.cn/ |
|
e-mail |
info@wenrui.com.cn |
|
Operation status |
Operational |
|
Copyright |
Copyright reserved by SC. |
|
Language |
Chinese and English. |
TRADEMARKS
After checking with the Trademark Office of Chinese Administration
Bureau of Industry and Commerce, no trademarks of SC were found.
PATENTS
|
Total patents |
26 (only the latest 3 are listed) |
|
Application No. |
201110222568.4 |
|
Application date |
Aug 4th, 2011 |
|
Patent name |
Pulp washing machine. |
|
|
|
|
Application No. |
201120281722.0 |
|
Application date |
Aug 4th, 2011 |
|
Patent name |
A kind of mechanical foam-drilling machine. |
|
|
|
|
Application No. |
201120281727.3 |
|
Application date |
Aug 4th, 2011 |
|
Patent name |
A kind of pulp heating machine. |
MAIN
PRODUCTS & SERVICES
|
Main business |
Manufacture and
sales of paper and pulp making equipments. |
|
Products and
services |
SC is the
manufacture, R & D base of pulp making equipments and alkali recovery
equipments in China. Its main products include paper making and pulp washing
equipments, white water recovery equipments, slurry concentration equipments,
screening equipments, pulp regeneration equipments, etc. SC’s products are
used in many large-sized domestic and international paper and pulp making
companies. |
|
Picture of
specific products |
|
|
Annual
production capacity |
-- |
|
Plants and
equipments |
It has over
350 processing equipments at present. |
|
Awards &
Honors |
National Prize
For Progress in Science and Technology (SC’s filter); National Key High-tech
Enterprise, etc. |
|
Certificates /
licenses |
ISO9001
Quality System Certification. |
![HOB`9]8`GQO$D$ZC%]_6QLD](WENRUI%20MACHINERY%20(SHANDONG)%20CO%20LTD%20-%20185522%2004-Jul-2012_files/image003.jpg)
SALES
INFORMATION
|
Domestic
sales |
60% |
|
Regions |
All over China |
|
Major
domestic clients |
ZHEJIANG
YONGTAI PAPER (GROUP) INDUSTRY CO. LTD; SHANDONG CHENMING PAPER GROUP CO.
LTD. |
|
Competitors |
METSO PAPER
(CHINA) CO., LTD.; QINYANG HUAXIA PAPER MANUFACTURE MACHINERY CO. LTD; WUXI
ZHONGLIAN PAPER MANUFACTURE MACHINERY CO. LTD; XI’AN CHINA NATIONAL LIGHT
INDUSTRIAL PAPER MACHINERY GROUP CO. LTD, etc.
|
|
Payment
terms |
Prompt
payment; on credit |
|
Export |
40% |
|
Regions |
Canada, Brazil, India, Indonesia, Russia, Thailand, Burma,
Vietnam, etc. |
|
Major
overseas clients |
International paper manufacture enterprises, etc. |
|
Payment
terms |
L/C,
T/T |
|
SC’s
products are mainly sold to domestic and international pulp mills, paper
manufacture enterprises, etc. With long history, its products enjoy high
popularity and it has stable customers. |
|
|
The
above information was confirmed by SC’s employee on Jun.2nd, 2012. |
|
PURCHASE
INFORMATION
|
Main
Commodities Purchased |
Steel
products, plastic products, production equipments, home appliances, etc. |
|
Number of
Major Suppliers |
About 5 |
|
Region |
Domestic: 90% Import: 10 % |
|
Major
suppliers |
JINAN AOPURUI ELECTRIC APPLIANCES CO. LTD; SHANDONG SHANGYE
STEEL STRUCTURE CO. LTD; WEIFANG HIGHFULL MACHINERY TECHNOLOGY CO. LTD, etc. |
|
Main Terms of
Payment |
Local:
Prompt payment; on credit Import:
L/C, T/T |
|
SC’s raw
materials and production equipments are mainly purchased domestically and
only some of them are imported from overseas countries. With long history, it
has a lot of suppliers and stable sources of goods. |
|
|
The above
information was confirmed by SC’s employee on July 2nd, 2012. |
|
CREDIT
|
Name of
supplier |
SHANDONG SHANGYE STEEL STRUCTURE CO. LTD |
|
Main
commodities and service supplied |
Workshop
project construction. |
|
Interviewee |
Mr. Chen of
Business Department. |
|
Telephone of
Interviewee |
86 13468485888 |
|
Payment
comment |
|
|
|
|
|
Name of
supplier |
JINAN AOPURUI ELECTRIC APPLIANCES CO. LTD |
|
Main
commodities and service supplied |
Industrial
Dehumidifier machines, etc. |
|
Interviewee |
Ms Dou of
Business department. |
|
Telephone of
Interviewee |
86 531 87989990 |
|
Payment
comment |
The
investigated person confirmed SC is one of their clients and SC’s payment
status is good. |
LITIGATION
RECORDS
|
Total records |
1 |
|
|
|
|
Name of person subject to enforcement |
Wenrui Machinery (Shandong) Co Ltd |
|
Court |
People’s Court of Anqiu City. |
|
File date |
Feb 28th, 2011 |
|
File No. |
(2011) An Zhi Zi 00526 |
|
Amount |
143,844.00 CNY |
|
Status |
Closed. |
OTHER
ADVERSE MEDIA INFORMATION
|
Date |
Source |
Content |
|
May 22nd, 2006 |
http://www.lawxp.com/case/c98912.html |
Anqiu Haiyang Machinery Manufacture Co. Ltd, Zhong Xigang, Yujingchang
and SC business secret violation dispute. |
FINANCE
According to SC’s sales staff Mr. Liu, it is a large-sized enterprise in the local industry. Its turnover of 2011 was about 0.3 billion CNY.
Important Ratios:
|
|
2010 Industry
Financial Indices |
|
Return
on net assets (%) |
6.40 |
|
Return
on total assets (%) |
3.50 |
|
Gross
Profit Margin (%) |
14.50 |
|
Turnover
of total assets |
0.90 |
|
Turnover
of current assets |
1.40 |
|
Turnover
days of account receivable |
66.67 |
|
Asset
liability ratio (%) |
62.80 |
|
Current
ratio |
1.29 |
|
Quick
ratio |
0.80 |
Analysis of
financial indicator
SC mainly deals with manufacture and sales of paper and pulp manufacture
equipments and belongs to paper and pulp making equipments industry. With
the development of paper making industry, the paper and pulp making equipments
industry will keep increasing. Established in 1998, SC has accumulated certain
industry and production experience and it has certain competitiveness in the
local industry. SC’s location Anqiu City has perfect industrial production
system and SC’s overall economy environment is good. SC has developed stable
marketing channels.
INDUSTRY PROFILE
Industry
SIC Code
(China): 3641 Manufacture of paper and pulp making equipments.
Description: Manufacture of machineries and
equipments that are used in the manufacture and sales of pulp, paper, paper
products, etc.
Status Quo & Trend
As the paper
manufacture industry is developing sustainably, the paper and pulp making
equipments industry is predicated to keep increasing in 2012. In addition, with
the influence of government policies including low-carbon economy,
energy-saving and emission reduction, the high efficiency and energy saving
products sector has great development potential.
From January to
December in 2011, the total main business income of the paper and pulp making
equipments industry was 30.18 billion CNY, increasing 34.18% year/year; the
total profit was 2.33 billion CNY, increasing 32.81% year/year. With the
influence of technology level and enterprise strength, enterprises in the paper
and pulp making equipments industry are mainly medium and small sized
enterprises. The product technology added value is low and the low-end products
are surplus. The market competition is fierce. In addition, the technology of
overseas enterprises is mature and their products have stable quality and performance.
The products of overseas enterprises occupy large market shares of high-end
products.
Industry Associations
|
Name of association |
Membership of subject
(Yes/No) |
|
Guangdong Paper
Making Association |
Not Known |
|
Shandong Light Industry Machinery Association |
Not Known |
|
Henan Paper Making
Industry Association |
Not Known |
|
Sichuan Paper Making
Association |
Not Known |
|
China Light Industry Machinery Association |
Not Known |
GENERAL
COMMENTS
Established in January, 1998, SC is engaged in manufacture and
sales of paper and pulp manufacture equipments. Its clients are mainly domestic
and international paper and pulp making enterprises, distributors, etc. SC has
many kinds of products and they are used widely which is favorable to its
business expanding. With long history, SC has accumulated certain stable
customers and cooperates well with some of its suppliers. With powerful
technology strength, SC has its own Research and Development department and its
products have certain competitiveness. With long history, SC has perfect
purchase and marketing channels. It enjoys certain popularity in the local
industry.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.