MIRA
INFORM REPORT
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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN HUIYI PLASTIC EQUIPMENT TECHNOLOGY
CO., LTD |
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Registered Office : |
1219-1221 Xianke Electromechanical Building, Bagua 4th
Road, Futian District, Shenzhen, Guangdong Province, 518029 Pr |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.05.2002 |
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Com. Reg. No.: |
440301103421100 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
trading of plastic machinery, moulds, etc. |
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No. of Employees : |
15 |
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
Shenzhen Huiyi Plastic Equipment Technology Co., ltd.
1219-1221 xianke
electromechanical building,
bagua 4th
road, FUTIAN DISTRICT, SHENZHEN,
GUANGDONG PROVINCE,
518029 PR CHINA
TEL: 86 (0)
755-25851003 FAX: 86 (0)
755-25851030
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 8, 2002
REGISTRATION NO. : 440301103421100
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 15
REGISTERED CAPITAL :
CNY 10,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 24,790,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 10,350,000 (AS OF DEC. 31,
2010)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.37
= 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 Renminbi
Note: SC’s complete name should be the heading one, while the given one (Shenzhen HYPET Co., Limited) is in abbreviation.
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 8, 2002.
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 wholesaling and retailing plastic machinery, packaging
machinery, general machine processing equipment, hardware, plastic products, electrical
switches; import and export business (with permit if needed); technical
development of plastic; information advisory (excluding confined items).
SC is mainly
engaged in trading of plastic machinery, moulds, etc.
Mr. Xiang Xiuli has been legal representative, chairman and
general manager of SC since 2002.
SC is known to have approx. 15 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and head office in the commercial zone of
Shenzhen. Our checks reveal that SC rents the total premise about 120 square
meters.
http://www.hypet.com.cn/ The
website is under upgrading.
Email: info@hypet.com.cn
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2008-6 |
Registered capital |
CNY 1,000,000 |
CNY 2,560,000 |
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Registered no. |
4403012088563 |
Present one |
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2009-3 |
Registered capital |
CNY 2,560,000 |
CNY 4,000,000 |
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2009-7 |
Registered capital |
CNY 4,000,000 |
CNY 5,600,000 |
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Shareholdings |
Xiang
Xiuli 53% 53 Xiang
Lingzhen 7% 7 Zhao
Huidong 10% 10 Xiang
Luyi 30% 30 |
Xiang
Xiuli 53% 53 Xiang
Lingzhen 8.5% 7 Zhao
Huidong 8.5% 10 Xiang Luyi 30% |
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|
2010-7 |
Registered capital |
CNY 5,600,000 |
CNY 7,100,000 |
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2010-11 |
Registered capital |
CNY 7,100,000 |
CNY 8,600,000 |
|
Shareholdings |
Xiang
Xiuli 53% 53 Xiang
Lingzhen 8.5% 7 Zhao
Huidong 8.5% 10 Xiang Luyi 30% |
Present ones |
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2011-12 |
Registered capital |
CNY 8,600,000 |
Present amount |
MAIN SHAREHOLDERS:
Name % of Shareholding
Xiang Xiuli 58
Xiang Lingzhen 7.5
Zhao Huidong 7.5
Xiang Luyi 27
Legal
representative,
Chairman and General manager:
Mr. Xiang Xiuli, born in 1957. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working in SC as chairman, legal representative and general manager.
Supervisor:
=======
Xiang Lingzhen
SC is mainly engaged
in trading of plastic machinery, moulds, etc.
SC’s products
mainly include: plastic machinery, injection & blow moulds, etc.
SC sources its materials 95%
from domestic market, and 5% from overseas market. SC sells 20% of its products
in domestic market, and 80% to overseas 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 declined to release its major suppliers and clients.
SC is known to invest in the following company:
Wuhan
HYPET Plastic Machine Co., Ltd.
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.
Agricultural Bank of China Shenzhen Hongling North Road Sub-branch
AC#41-005300040005950
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Cash & bank |
260 |
300 |
|
Inventory |
180 |
220 |
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Accounts
receivable |
90 |
90 |
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Advances to
suppliers |
14,910 |
18,190 |
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Other receivables |
940 |
6,760 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
16,380 |
25,560 |
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Fixed assets net
value |
300 |
250 |
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Long term
investment |
950 |
950 |
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Projects under
construction |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
17,630 |
26,760 |
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=========== |
=========== |
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Short loan |
0 |
0 |
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Accounts payable |
0 |
0 |
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Advances from
clients |
9,670 |
12,250 |
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Taxes payable |
170 |
760 |
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Other Accounts
payable |
360 |
1,070 |
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Other current
liabilities |
300 |
270 |
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------------------ |
------------------ |
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Current
liabilities |
10,500 |
14,350 |
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Long term
liabilities |
0 |
2,060 |
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------------------ |
------------------ |
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Total
liabilities |
10,500 |
16,410 |
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Equities |
7,130 |
10,350 |
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------------------ |
------------------ |
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Total
liabilities & equities |
17,630 |
26,760 |
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=========== |
=========== |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2010 |
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Turnover |
24,790 |
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Cost of goods sold |
21,420 |
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Taxes and additional of main
operation |
0 |
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Sales expense |
1,700 |
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Management expense |
1,410 |
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Finance expense |
270 |
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Non-operating income |
290 |
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Profit before tax |
280 |
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Less: profit tax |
60 |
|
Profits |
220 |
Important
Ratios
=============
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Current ratio |
1.56 |
1.78 |
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*Quick ratio |
1.54 |
1.77 |
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*Liabilities
to assets |
0.60 |
0.61 |
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*Net profit
margin (%) |
/ |
0.89 |
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*Return on
total assets (%) |
/ |
0.82 |
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*Inventory
/Turnover ×365 |
/ |
3 days |
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*Accounts
receivable/Turnover ×365 |
/ |
1 day |
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*Turnover/Total
assets |
/ |
0.93 |
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* Cost of
goods sold/Turnover |
/ |
0.86 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in 2010.
l
SC’s net profit margin is average in 2010.
l
SC’s return on total assets is average in 2010.
l
SC’s cost of goods sold is average, comparing with
its turnover in 2010.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears average.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets in 2010.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
SC is considered small-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
|
UK Pound |
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.