MIRA
INFORM REPORT
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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
FUAN CITY XINHENGXIN MOTOR CO.,LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.01.2003 |
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Com. Reg. No.: |
350981100014136 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Manufacture and Sales of Electrical Machines. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRAs 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
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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
FUAN CITY XINHENGXIN MOTOR CO.,LTD.
Currency in this report is Chinese Yuan
unless otherwise stated.
Exchange Rate: 1 USD=6.37 Chinese Yuan
"--"in this report indicates
"unavailable" due to insufficient information or "no
comments"
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Jan 20th, 2003 |
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Aic Registration No. |
350981100014136 |
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REGISTERED LEGAL FORM |
limited liabilities
company |
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REGISTERED CAPITAL |
11,080,000.00 |
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main BUSINESS |
Manufacture and sales of electrical machines. |
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tax no. |
-- |
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TURNOVER |
-- |
|
net profit |
-- |
|
total assets |
-- |
|
net worth |
-- |
|
employees |
120 |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.37CNY (JUN.12th, 2012) |
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Registered Address |
Qinxiyang Industrial Park, Chengyang Town, Fuan City, Fujian Province. |
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Zip Code |
355000 |
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Business Address |
Qinxiyang Industrial Park, Chengyang Town, Fuan City, Fujian Province. |
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Zip Code |
355000 |
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Telephone |
86 593 6393383/6552888 |
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Fax |
86 593 6512383 |
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SIC Code (China) |
3910 Manufacture of electrical
machines. |
REGISTRATION
|
Name (Chinese) |
福安市新恒新机电有限公司 |
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Name (English) |
FUAN CITY XINHENGXIN MOTOR CO.,LTD. |
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Date of Establishment |
Jan 20th, 2003 |
|
Registry |
Administration Bureau of Industry and Commerce Fuan City |
|
Legal Representative |
Liu Ganming |
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AIC Registration Number |
350981100014136 |
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Registered Legal Form |
LIMITED LIABILITIES COMPANY |
|
Registered Capital |
11,080,000.00 |
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Operating Duration |
Jan 20th, 2003 to Jan 19th, 2023 |
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Business Scope |
Manufacture and sales of
electrical machines and related accessories. |
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. SCs
business income comes mainly from sales of electrical machines including
electric generators, electromotors, diesel engines, etc. Its products are sold
both domestically and internationally. SCs sales business is developed both
directly and indirectly to its end customers. Its domestic clients are mainly
diesel engine manufacture enterprises and its overseas clients are mainly traders,
wholesalers, etc. The industry of electric motors is an industry with fierce
competition. There are a lot of similar enterprises in the local place as SCs
competitors. With long history, it has accumulated certain amount of clients
and enjoys certain popularity in domestic and international market. Generally
speaking, SCs competitiveness is average in the local place.
2. Located in the northeast of Fujian Province, Fuan City
is a dynamic city with convenient traffic condition. In 2011, the total output
value of Fuan City was 22 billion CNY, increasing 18% year/year; the total
industrial output value was 47.5 billion CNY, increasing 37% year/year; the
total agricultural output value was 4.35 billion CNY, increasing 5%; the total
social fixed asset investment was 6.496 billon CNY, increasing 29% year/year.
As a domestic owned enterprise dealing with manufacture and sales of electric
motors, SC shares no favorable policies provided by the local government.
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Wang Candi |
1,690,000.00 |
15.25% |
|
Wang Youfan |
1,690,000.00 |
15.25% |
|
Liu Ganming |
1,900,000.00 |
17.14% |
|
Liu Zhenning |
5,800,000.00 |
52.36% |
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Total |
11,080,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Wang Candi |
Capital
|
100% |
|
Wang Youfan |
Capital
|
100% |
|
Liu Ganming |
Capital
|
100% |
|
Liu Zhenning |
Capital
|
100% |
Background
of major shareholder
|
Name |
Wang Candi |
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Gender |
Male |
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Date of birth |
Dec 24th, 1954 |
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Name |
Wang Youfan |
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Gender |
Male |
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Date of birth |
July 2nd, 1942 |
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Name |
Liu Ganming |
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Gender |
Male |
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Date of birth |
July 8th, 1952 |
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Name |
Liu Zhenning |
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Gender |
Male |
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Date of birth |
Jan 15th, 1991 |
AFFILIATE(S)
No affiliates of subject
company is found after checking.
MANAGEMENT
|
Name |
Liu Gan-ming |
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Gender |
Male |
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Title |
Legal Representative |
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Date of birth |
July 8th, 1952 |
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Education |
-- |
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Working experience |
Over 10 years working experience and over 8
years management experience. |
NUMBER OF EMPLOYEES
Employees:
120
Management
Staff: 15
Recent
recruitment: No
BANKERS INFORMATION
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Bank name |
Industrial Bank Co. Ltd Fuan Sub-branch |
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Account No. (CNY) |
132010102200058375 |
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Tel. |
86 593 6384744 |
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Comment |
The bank staff confirmed SC opened an account in
the bank and the above account information is correct. |
OFFICE FACILITIES
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Geographic Location |
Qinxiyang Industrial Park, Chengyang Town, Fuan City, Fujian Province. |
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Area |
10,000 square meters |
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Environment |
Industrial Park. |
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Traffic condition |
Convenient (surrounded by Xinhua Middle Rd, Zhongxing East Rd, Fuxin
Rd, etc.) |
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Purpose |
Office/Warehousing/Factory. |
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Property Ownership |
Unknown |
WEBSITE
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Website |
http://www.motorscn.com/ |
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e-mail |
info@motorscn.com |
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Operation status |
Operational |
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Copyright |
Copyright reserved by SC. |
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Language |
English and Chinese. |
TRADEMARKS
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Total trademark |
1 |
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Registration No. |
3567382 |
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Registration date |
May 26th, 2003 |
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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 electric motors. |
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Products and services |
SC is a engaged in research, design and
manufacture of different kind of electric motors. It mainly manufactures
electromotors, electric generators, etc. SCs products include synchronizing
generators, brushless generators, cast iron shells electric motors, aluminum
shells electric motors, diesel engines, gasoline engines, etc. It can also
design and manufacture electric motors according to its clients requests. |
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Picture of specific products |
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Annual production capacity |
It can produce over 1500 diesel generator sets
per year and 3-4 generator sets per month. |
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Plants and equipments |
-- |
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Awards & Honors |
-- |
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Certificates / licenses |
ISO9001 Quality Management System
Certification; Product 3G Certification; EU CE Certification, etc. |
SALES
INFORMATION
|
Domestic sales |
70% |
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Regions |
All
over China |
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Major domestic clients |
WEIFANG
CHANGXING DIESEL ENGING CO. LTD; WEIFANG CITY CHANGSONG DIESEL ENGINE CO.
LTD; SHANDONG KOFO POWER CO. LTD, etc. |
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Competitors |
WEICHAI POWER CO. LTD; WOLONG ELECTRIC GROUP CO. LTD; HEBEI ELECTRIC MOTOR CO.
LTD, etc.
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Payment terms |
Prompt payment; on credit |
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Export |
30% |
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Regions |
Southeast
Asia, Europe, America, etc. |
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Major overseas clients |
International
traders, etc. |
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Payment terms |
L/C, T/T |
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SCs products are mainly
supplied to domestic diesel engine manufacture enterprises. Its international
clients are mainly traders, wholesalers, etc. With long history, it has fixed
clients. |
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The above information was
confirmed by SCs employee on June 12th, 2012. |
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PURCHASE
INFORMATION
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Main Commodities Purchased |
Steel disc, plastic shell, electric wire,
spare parts, production equipment, etc. |
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Number of Major Suppliers |
About 5 |
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Region 采购地区 |
Domestic: 95% Import:5 % |
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Major suppliers |
ZHEJIANG JIANHUA NETWORK TECHNOLOGY CO. LTD,
etc. |
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Main Terms of Payment |
Local: Prompt payment; on
credit Import: L/C, T/T |
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SCs raw materials and equipments are mainly
purchased domestically. Its purchase activities can be done according to its
clients requests. Only a small part of spare parts are imported from
overseas countries. |
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The above information was confirmed by SCs
employee on JUN.12th, 2012. |
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CREDIT
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Name of supplier |
ZHEJIANG JIANHUA NETWORK
TECHNOLOGY CO. LTD |
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Main commodities and service supplied |
Information service, etc. |
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Interviewee |
Service department staff. |
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Telephone of Interviewee |
86 571 58106888 |
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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 12th, 2012 |
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 SCs manager
Mr. Liu, SC is a medium sized enterprise. Its turnover of 2011 was between 30
million CNY and 50 million CNY.
Important Ratios:
|
|
2010 Industry Financial
Indices（157*） |
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Return on net
assets (%) |
11.46 |
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Return on total
assets (%) |
4.02 |
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Net profit
margin (%) |
4.24 |
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Turnover of
total assets |
0.95 |
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Turnover of
current assets |
1.27 |
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Turnover days of
account receivable |
95.28 |
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Inventory
turnover days |
85.61 |
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Asset liability
ratio (%) |
64.80 |
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Current ratio |
1.21 |
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Quick ratio |
0.87 |
Analysis of financial
indicator
SC mainly deals with
manufacture and sales of electric motors and belongs to electric motor manufacture
industry. Development and using of efficient electric motors is the
international development trend. The prospect of electric motor industry is
bright. Established in 2003, SC has perfect production equipment and abundant
production experience. It has certain industry competitiveness in the local
industry. Fuan City, SCs location is a highly developed city with convenient
traffic condition. SCs overall economy environment is satisfactory. With long
history, SC has its own perfect purchase and marketing channels.
INDUSTRY
PROFILE
Industry
SIC Code (China): 3910 Manufacture of motors.
Description: Manufacture of
electric generators, electric generator sets, electromotors, micromotors and
other electric motors.
Status
Quo & Trend
The power efficiency improvement of
electromotors are favorable to energy saving, environment protection, capital
saving, etc. In addition, development and using of efficient electromotors is
the current international development trend. All countries in the world pay
much attention to energy-saving of electromotors.
China has advantages in developing electric
machine manufacture industry since it is a labor-intensive industry. From
January to June in 2011, there were 2,221 enterprises in electric machine industry
with total turnover of 274,291,090,000.00 CNY, increasing 27.02% year/year. In
addition, the export value of electromotors kept increasing with year/year
growth rate of 26.04%; the export volume increased 5.93% year/year.
Industry
Associations
|
Name of association |
Membership of subject (Yes/No) |
|
SHANGHAI ELECTRIC MOTOR INDUSTRY ASSOCIATION |
No |
|
CHINESE
ELECTRIC ENGINEERING ASSOCIATION |
No |
|
CHINESE ELECTRICAL EQUIPMENT INDUSTRIAL
ASSOCIATION |
No |
GENERAL
COMMENTS
Established
in January, 2003, SC is engaged in manufacture and sales of electric machines
including diesel engines, gasoline engines, electric generators, etc. It mainly
provides supporting service to many domestic diesel engines and also exports to
overseas traders. With long history, it has advanced production equipments and
testing equipments. SC has mastered advanced technology and has its own stable
purchase and marketing channels. Its products enjoy certain popularity in both
domestic and international market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.05 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
-- |
This score serves as a reference to assess SCs 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.