MIRA
INFORM REPORT
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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
FOSHAN CITY WELKIN MACHINERY CO.,LTD |
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Registered Office : |
Xinjing Industrial Zone, Xiaotang Village, Shishan Town, Nanhai Dist,
Foshan City, Guangdong Province |
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Country : |
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Date of Incorporation : |
15.03.2007 |
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Com. Reg. No.: |
440682000027066 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturer of gas and liquid separation equipments and purifying
equipments |
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No. of Employees : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 & address
FOSHAN CITY WELKIN
MACHINERY CO.,LTD.
Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.32 Chinese Yuan
"--"in this report indicates "unavailable" due to insufficient information or "no comments"
ORDER
INFORMATION
|
name |
Foshan City Welkin Machinery Co.,Ltd. |
|
address |
Floor 2, No.5 Hengjie Street Pingyuan Foshan City |
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tel. |
86 757 83135186 |
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fax |
86 757 83135189 |
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Mar 15th, 2007 |
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Aic Registration No. |
440682000027066 |
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REGISTERED LEGAL FORM |
limited liabilities
company |
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REGISTERED CAPITAL |
1,010,000.00 |
|
main BUSINESS |
Manufacture and sales of gas producer |
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tax no. |
440682799328014 |
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employees |
150 |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.32CNY (JUN 7th, 2012) |
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Registered Address |
Xinjing Industrial Zone, Xiaotang Village, Shishan Town, Nanhai Dist,
Foshan City, Guangdong Province. |
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Zip Code |
528225 |
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Business Address |
2 Fl, No.5, Pingyuan Hengjie St, Chancheng Dist, Foshan City,
Guangdong Province |
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Zip Code |
528010 |
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Telephone |
86 757 83135186 |
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Fax |
86 757 83135189 |
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Factory Address |
Xinjing Industrial Zone, Xiaotang Village, Nanhai Dist, Foshan City,
Guangdong Province. |
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SIC Code (China) |
3572 Manufacture of gas and liquid separation equipments and
purifying equipments. |
REGISTRATION
|
Name (Chinese) |
佛山市奥肯机械有限公司 |
|
Name (English) |
FOSHAN CITY WELKIN MACHINERY CO.,LTD. |
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Date of Establishment |
Mar 15th, 2012 |
|
Registry |
Administration Bureau of Industry and Commerce - |
|
Legal Representative |
Zhao Qiusheng |
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AIC Registration Number |
440682000027066 |
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Registered Legal Form |
LIMITED LIABILITIES COMPANY |
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Registered Capital |
1,010,000.00 |
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Operating Duration |
Mar 15th, 2007 to -- |
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Business Scope |
Manufacture and sales of ceramic
machinery, gas producer, kiln, gas purification equipments, electrical tar
precipitator, cottrell, precipitator, desulfurizer, industrial drainage
equipments, coal-water slurry furnace and energy-saving thermal technology
equipments; Import and export of goods
(excluding those forbidden by government and with license for those needed). |
Limited
liabilities co.
This
form of business in PR China is defined as a legal person. Its registered capital
is contributed jointly by at least two shareholders and no more than fifty.
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 listed as follows:
-manufacturing
co. : RMB 500,000.00
-trading
&wholesaling co. : RMB 500,000.00
-retailing
co. : RMB 300,000.00
-consultancy
& service co. : RMB 100,000.00
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 50% of the registered
capital while contribution by intangible assets must not exceed 20% 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.
REGISTRATION
INFO: AVAILABLE
FINANCIAL
REPORTS: AVAILABLE
FIELD
INVESTIGATION
1. SC’s
business income comes mainly from gas producers. Its products are sold both
domestically and internationally. SC’s sales business is developed both
directly and indirectly to its end customers including domestic and
international ceramics enterprises, bathroom product manufacture enterprises,
etc. The industry of gas producer equipment is an industry with fierce
competition. There are a lot of similar enterprises in the local place as SC’s
competitors. With certain years’ history, SC has accumulated certain amount of
customers and it enjoys certain popularity in both domestic and international
market.
2. Foshan
City, SC’s location is the third largest city of Guangdong Province located in
Pearl River Delta. Foshan City is closed to East Asia, Southeast Asia, Hong
Kong and Macao which is favorable to its internationalization. In 2011, the GDP
per capita of Foshan City was 91,500 CNY, whilst the total financial revenue
was 11.1 billion CNY. It is a higher developed city. As a domestic owned
enterprise dealing with manufacture and sales of gas producers, SC shares no
favorable policy provided by the local government.
SHAREHOLDERS
AND SHARES
As indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Zhao Qiusheng |
909,000.00 |
90% |
|
He Qingfang |
101,000.00 |
10% |
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Total |
1,010,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Zhao Qiusheng |
Capital
|
100% |
|
He Qingfang |
Capital
|
100% |
Background of major shareholder
|
Name |
Zhao Qiusheng |
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Gender |
Male |
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Date of birth |
Sep 30th, 1969 |
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Name |
He Qingfang |
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Gender |
Female |
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Date of birth |
Nov 24th, 1939 |
AFFILIATE(S)
No
affiliates of subject company is found after checking.
MANAGEMENT
|
Name |
Zhao Qiusheng |
|
Gender |
Male |
|
Title |
Legal Representative |
|
Date of birth |
Sep 30th, 1969 |
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Education |
-- |
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Working experience |
Over 10 years’ working experience and over 10
years’ management experience. |
NUMBER OF EMPLOYEES
· Employees: 150
Management
Staff: 30
Recent
recruitment: No
BANKERS INFORMATION
N/A
OFFICE FACILITIES
|
Geographic Location |
2 Fl, No.5, Pingyuan Hengjie St, Chancheng Dist, Foshan City, Guandong
Province |
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Area |
500 square meters |
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Environment |
Business district. |
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Traffic condition |
Convenient (surrounded by Pingyuan Avenue, Fenjiang South Road,
Guangfu Road, etc. |
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Purpose |
Office. |
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Property Ownership |
Rented |
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Factory address |
Xinjing Industrial Zone, Xiaotang Village, Nanhai Dist, Foshan City,
Guangdong Province. |
WEBSITE
|
Website |
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E-mail |
-- |
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Operation status |
Operational |
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Copyright |
Copyright reserved by SC. |
|
Language |
Chinese and English. |
TRADEMARKS
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Total trademark |
4 |
|
Registration No. |
7084462 |
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Registration date |
Nov 28th, 2008 |
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Image |
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Registration No. |
7084466 |
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Registration date |
Nov 28th, 2008 |
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Image |
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Registration No. |
8979509 |
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Registration date |
Dec 22nd, 2010 |
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Image |
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Registration No. |
8979513 |
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Registration date |
Dec 22nd, 2010 |
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Image |
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PATENTS
After checking with the Commerce and the State Intellectual
Office, no patents of SC were found.
MAIN
PRODUCTS & SERVICES
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Main business |
Manufacture and sales of gas producers. |
|
Products and services |
SC mainly deals with manufacture and sales
of gas producers and spare parts. Its products include gas producers, gas
holder regulators, gas-driven generators, etc. SC’s products have many
advantages including energy-saving, environment protective, high automation,
safety, etc. |
|
Picture of specific products |
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Annual production capacity |
-- |
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Plants and equipments |
Gas producer production line, etc. |
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Awards & Honors |
Growing Star Certificate of 2010; Growing
Star Certificate of 2009; Ceramic Star of 2008, etc. |
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Certificates / licenses |
ISO 9001:2008 Quality System Certificate. |
SALES
INFORMATION
|
Domestic sales |
60% |
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Regions |
All
over China |
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Major domestic clients |
MONALISA INDUSTRY CO. LTD OF FOSHAN CITY; GUANG DONG DONGPENG CERAMIC CO. LTD, etc. |
|
Competitors |
QINYANG WENHUA
ENVIRONMENT PROTECTION EQUIPMENT FACTORY;ZHENGZHOU HENGJIA MACHINERY
MANUFACTURE CO. LTD; QINGDAO HAINUOSI GROUP CO. LTD; JIAOZUO HUILI MACHINERY
MANUFACTURE CO. LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
|
Export |
40% |
|
Regions |
Indonesia,
Philippines, Vietnam, Pakistan, Asia, etc. |
|
Major overseas clients |
International
ceramic manufacture enterprises, etc. |
|
Payment terms |
L/C, T/T |
|
SC’s gas producers are mainly
used by manufacture enterprises of ceramics, bathroom products, etc. With
certain years’ history, it has accumulated certain amount of clients both
domestically and internationally. |
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|
The above information was
confirmed by SC’s employee |
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PURCHASE
INFORMATION
|
Main Commodities Purchased |
Steel, spare parts, metal parts, production
equipments, office supplies, etc. |
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Number of Major Suppliers |
About 5 |
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Region |
Domestic: 100% Import: 0% |
|
Major suppliers |
FOSHAN PAINENG MECHANICAL & ELECTRICAL
CO. LTD; GUANGDONG JINKE DAOTONG TECHNOLOGY CO. LTD, etc. |
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Main Terms of Payment |
Local: Prompt payment; on
credit |
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SC’s raw materials are mainly purchased from
Foshan City and its neighbouring regions. It has stable suppliers. |
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|
The above information was confirmed by SC’s
employee |
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CREDIT
|
Name of supplier |
FOSHAN PAINENG MECHANICAL
& ELECTRICAL CO. LTD |
|
Main commodities and service supplied |
Mitsu land machine units. |
|
Interviewee |
Office staff. |
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Telephone of Interviewee |
86 757 86832299 |
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Payment comment |
The investigated person confirmed SC is one
of their clients, but was not clear about its payment status. |
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Date of interview |
June 7th, 2012. |
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Name of supplier |
GUANGDONG JINKE DAOTONG
TECHNOLOGY CO. LTD – FOSHAN BRANCH |
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Main commodities and service supplied |
Website construction service. |
|
Interviewee |
Miss Shi (Business staff) |
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Telephone of Interviewee |
86 757 83218150 |
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Payment comment |
The investigated person confirmed SC is one
of their clients and SC’s payment status is good. |
LITIGATION
RECORDS
After
checking with China Court organization, the local court website and other major
searching websites, no litigation record related to SC in the latest three
years is found.
OTHER
ADVERSE MEDIA INFORMATION
N/A
FINANCE
According to SC’s staff, it is a medium sized enterprise in the local industry. Its annual turnover of 2011 was over 0.1 billion CNY. SC’s operation status in the first half of 2012 has been poor. Its turnover of 2012 is predicated to decrease.
|
|
2010
Industry Financial indices (131*) |
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Return on net assets
(%) |
16.57 |
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Return on total
assets (%) |
7.17 |
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Net profit
margin (%) |
9.42 |
|
Turnover of
total assets |
0.78 |
|
Turnover of
current assets |
1.09 |
|
Turnover days of
account receivable |
82.84 |
|
Inventory
turnover days |
104.89 |
|
Asset liability
ratio (%) |
56.28 |
|
Current ratio |
1.35 |
|
Quick ratio |
1.03 |
Analysis of financial indicator
SC mainly deals with manufacture and
sales of gas producers and belongs to gas and liquid separation equipments and pureness
equipments industry. This industry still has great development space in future
years. Its products are widely used in industries of mine, chemicals, steel,
ceramics, etc. The prospect of gas producers and belongs to gas and liquid
separation equipments and pureness equipments industry is bright. Established
in 2007, SC has accumulated abundant manufacture experience and has great
competitiveness in the local industry. SC’s location Foshan City is the most
developed city of ceramic industry with a large amount of ceramic manufacture
enterprises. That is favorable to the expanding of SC’s sales network.
INDUSTRY
PROFILE
Industry
SIC Code (China): 3572 Manufacture of gas and
liquid separation equipments and purifying equipments.
Description:
Manufacture of equipments that are used for purifying, separating, liquefying,
screening and cleaning of gas and liquid.
Status Quo & Trend
The gas and liquid
separation equipments and purifying equipments will keep a growth
rate of over 15% in the coming years. Metallurgical industry is still the main
promoter of gas and liquid separation equipments and purifying
equipments industry. Petroleum chemical industry will also become one of the
mainly clients of this industry. In the aspect of export, improving export
competitiveness is the key point of gas and liquid separation equipments and
purifying equipments industry. As people’s life is improving but the
environment and air quality is decreasing, people’s request for life and
environment quality is becoming higher. Gas and liquid separation equipments
and purifying equipments and technologies are become popular among people.
The products of gas and
liquid separation equipments industry are widely used in high-tech industry
sector and modern science sector including electronics, nucleon, aviation,
bioengineering, pharmacy, precision machine, chemicals, food, automobile
manufacture, etc. The turnover of
China’s air cleaner market is increasing at a speed of 20% per year.
Industry Associations
|
Name of association |
Membership of subject (Yes/No) |
|
CHINA CERAMICS INDUSTRY ASSOCIATION |
Not Known |
|
GAS SEPARATION EQUIPMENT ASSOCIATION |
Not Known |
|
CHINA GENERAL MACHINERY INDUSTRY ASSOCIATION |
Not Known |
GENERAL COMMENTS
Established in March, 2007, SC is engaged in manufacture
and sales of gas producers. Its products are mainly sold to domestic and
overseas manufacture enterprises of ceramics, bathroom products, etc. It has
accumulated stable amount of customers. With several years’ history, SC has its
own new technology and new products development center. It has powerful
technology strength and its products have the advantages of energy-saving,
environment protection, high automation, safety, etc. With individual
shareholders, SC’s financing capacity and risk resisting capacity are
relatively weak.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
|
UK Pound |
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.