MIRA INFORM REPORT
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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CNBM INTERNATIONAL CORPORATION |
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Registered Office : |
17f-21f, No. 4 Building, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.08.2004 |
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Com. Reg. No.: |
110102007417602 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting building materials, building equipment,
ferroalloys products, mineral products, etc. |
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No. of Employees
: |
467 |
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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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) |
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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
CNBM INTERNATIONAL
CORPORATION
17F
NO. 9 SHOUTI SOUTH ROAD,
HAIDIAN DISTRICT, BEIJING 100044 PR CHINA
TEL: 86 (0)
10-68796888/68796421/68796607/68796351/68796345
FAX: 86 (0)
10-68796677/68796668
EXECUTIVE SUMMARY
Date of Registration : august 17, 2004
REGISTRATION NO. : 110102007417602
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
zhang jinsong (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 150,000,000
staff :
467
BUSINESS CATEGORY : trading
Revenue :
CNY 6,648,543,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 237,103,000 (AS OF DEC. 31, 2011)
WEBSITE : www.icnbm.com
E-MAIL :
alanlu@icnbm.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : FAIRLY GOOD
EXCHANGE RATE :
CNY 6.39 = 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
***Note: According
to the given contact ways, we locate SC. SC’s name should be the heading one, while
CNBM INDIA PVT. LTD. (the given name) was its related company.
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 110102007417602 on August 17, 2004.
SC’s Organization Code Certificate No.:
76626876-4
SC’s registered capital: cny 150,000,000
SC’s paid-in capital: cny 150,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Registered Capital |
CNY 10,000,000 |
CNY 20,000,000 |
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|
Registered Capital |
CNY 20,000,000 |
CNY 50,000,000 |
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2008 |
Company Chinese Name |
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Registered Capital |
CNY 50,000,000 |
CNY 75,000,000 |
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2010 |
Registered Capital |
CNY 75,000,000 |
CNY 100,000,000 |
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2011 |
Registered Capital |
CNY 100,000,000 |
cny 150,000,000 |
|
Legal Representative |
Wu Suhua |
Zhang Jinsong |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China National Building Materials Import & Export Corporation |
81.60 |
|
Other Individuals |
18.40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Zhang Jinsong |
|
Director |
Xia Hongbo |
|
Piao Chaomei |
|
|
Tang Zaixin |
|
|
Supervisor |
Liu Shanshan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China National Building Materials Import & Export Corporation 81.60
Other Individuals 18.40
China National
Building Materials Import & Export Corporation
------------------------------------------------------------------------------------------
Date of Registration: February 8, 1994
Registration No.: 110000005021759
Legal Form: State-owned
Enterprise
Chief Executive: Huang Anzhong (Legal Representative)
Registered Capital: CNY 900,000,000
China National Building Materials & Equipment Import & Export
Corporation was established in 1985. With the development of more than twenty
years, CNBM International is listed among the top 500 enterprises of
international trade companies. It has established wide relationships with customers
from more than 100 countries around the world. Products are exported to five
continents. Its business scope mainly cover building materials, international
trade of non-metallic minerals, equipment, contracting, research and
development, and e-business. As a trading platform of China National Building
Material Corporation (CNBM), CNBM International has competitive advantages in
importing and exporting of cement, glass, ceramics, glass fiber products,
compound materials and new building materials. It also has advantages in its
business scale, resources, and technology supports.
Address: No. 4 Building, Zhuyu International Business Center, No.9
Shouti South Road, Beijing
Tel: 86 (0) 10-68796666
Fax: 86 (0) 10-68796688
Web: www.cbmie.com
MANAGEMENT
Zhang Jinsong,
Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Gender: M
Age: 41
ID# 320626197102066418
Qualification: University
Working experience (s):
Before, worked in SC as general manager
At present, working in SC as legal representative, chairman and general
manager
Also working in China National Building Materials Import & Export
Corporation as deputy general manager
Director
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Xia Hongbo ID#
110105196003100470
Piao Chaomei ID#
11010819630813008X
Tang Zaixin ID#
110102195509291979
Supervisor
--------------
Liu Shanshan ID#
110108197401264925
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting
commodities and technology; selling building materials, metal materials, auto
parts, hardware, mineral products, chemical products (excluding Grade A poisonous chemicals & hazardous
chemicals), machine equipment instrument, wood materials, paper, native
products, general
merchandise, textile; decorative design; home design; technology development;
undertaking exhibition; information consultant (excluding intermediary
services).
SC is mainly engaged in importing and exporting building materials,
building equipment, ferroalloys products, mineral products, etc.
SC’s products mainly include: building materials, building equipments,
ferroalloys products, mineral products, etc.
SC sources its materials 65% from domestic market, and 35% from overseas
market, USA, India, UAE, Iran, Russia, Saudi Arabia, etc. SC sells 40% of its
products in domestic market, and 60% to overseas market, mainly Mid-East.
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.
*Major Suppliers:
=============
Changsha Zoomlion Heavy Industry Science and Technology Development Co.,
Ltd.
Beijing Sanyi Heavy Machinery Co., Ltd.
Staff &
Office:
--------------------------
SC is known to have approx. 467
staff at present.
SC owns an area as its operating office, but the detailed information is
unknown.
RELATED COMPANY
Subsidiaries:
==========
CNBM Steel Co., Ltd.
CNBM International U.A.E. Company
CNBM International Vietnam Company
CNBM International India Company
CNBM New Energy Engineering Co., Ltd.
Anguo Zhongjian Non-Woven Fabric Co., Ltd.
Related Companies:
===============
CNBM International Engineering Co., Ltd.
CNBM International Shanghai Co., Ltd.
CNBM International Shanghai Jianpu Import & Export Co., Ltd.
CNBM Technology Co., Ltd.
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’s suppliers declined to make any
comments.
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
Basic Bank:
Bank of China Beijing Branch
AC#: 8049148159081091001
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
28,508 |
71,170 |
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Accounts receivable |
103,605 |
75,460 |
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Advances to suppliers |
154,773 |
0 |
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Other receivable |
145,952 |
113,630 |
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Inventory |
28,712 |
141,790 |
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Non-current assets within one year |
0 |
0 |
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Other current assets |
0 |
91,400 |
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------------------ |
------------------ |
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Current assets |
461,550 |
493,450 |
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Fixed assets |
1,759 |
2,520 |
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Intangible assets |
1,618 |
0 |
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Long term investment |
13,379 |
27,590 |
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Long-term deferred expenses |
327 |
0 |
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Deferred income tax assets |
1,883 |
0 |
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Other non-current assets |
0 |
3,610 |
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------------------ |
------------------ |
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Total assets |
480,516 |
527,170 |
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============= |
============= |
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Short-term loans |
226,583 |
200,000 |
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Notes payable |
34,368 |
0 |
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Accounts payable |
23,809 |
38,790 |
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Advances from clients |
61,630 |
0 |
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Other payable |
14,011 |
67,990 |
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Other current liabilities |
6,175 |
75,090 |
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------------------ |
------------------ |
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Current liabilities |
366,576 |
381,870 |
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Non-current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
366,576 |
381,870 |
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Equities |
113,940 |
145,300 |
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------------------ |
------------------ |
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Total liabilities & equities |
480,516 |
527,170 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Revenue |
1,299,631 |
3,919,320 |
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Cost of sales |
1,186,232 |
3,698,240 |
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Sales expense |
69,811 |
140,200 |
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Management expense |
4,977 |
13,630 |
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Finance expense |
6,468 |
17,820 |
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Profit before tax |
29,200 |
49,000 |
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Less: profit tax |
7,200 |
12,340 |
|
22,000 |
36,660 |
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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Long term investment |
92,206 |
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Total assets |
1,259,044 |
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------------- |
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Long term liabilities |
0 |
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Total liabilities |
1,021,941 |
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Equities |
237,103 |
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|
------------- |
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Revenue |
6,648,543 |
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Profit before tax |
96,569 |
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Less: profit tax |
23,393 |
|
Profits |
73,176 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
*Current ratio |
1.26 |
1.29 |
-- |
|
*Quick ratio |
1.18 |
0.92 |
-- |
|
*Liabilities to assets |
0.76 |
0.72 |
0.81 |
|
*Net profit margin (%) |
1.69 |
0.94 |
1.10 |
|
*Return on total assets (%) |
4.58 |
6.95 |
5.81 |
|
*Inventory / Revenue ×365 |
9 days |
14 days |
-- |
|
*Accounts receivable/ Revenue ×365 |
30 days |
8 days |
-- |
|
* Revenue/Total assets |
2.70 |
7.43 |
5.28 |
|
* Cost of sales / Revenue |
0.91 |
0.94 |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
The revenue of SC appears good, and it was rising significantly in 2011.
SC’s net profit margin is average in three years.
SC’s return on total assets is fairly good in three years.
SC’s cost of goods sold is fairly high, comparing with its revenue in
2009 and 2010.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in 2009 and
2010.
SC’s quick ratio is maintained in a normal level in 2009 and 2010.
The inventory of SC is maintained in an average level in 2009 and 2010.
The accounts receivable of SC is maintained in an average level in 2009
and 2010
The short-term loans of SC appear large in 2009 and 2010.
SC’s revenue is in a fairly good level, comparing with the size of its
total assets.
LEVERAGE: FAIRLY
GOOD
The debt ratio of SC is average in three years.
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. The large amount of short-term loans may be a threat to SC’s financial
conditions. But taking into consideration of SC’s general performance,
reputation as well as market conditions, a credit line up to USD 2,000,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.02 |
|
|
1 |
Rs.86.89 |
|
Euro |
1 |
Rs.67.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.