MIRA
INFORM REPORT
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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SUTEX HIMATECH
INTEGRATION CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.11.2008 |
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Com. Reg. No.: |
320000000077208 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Mechanical and Electric Products |
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No. of Employees : |
30 |
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
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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 and address
SUTEX HIMATECH
INTEGRATION CO., LTD.
TEXTILE MANSION, NO. 482, ZHONGSHAN EAST
ROAD, NANJING,
JIANGSU PROVINCE, 210002 PR CHINA
TEL: 86 (0) 25-84514114/84509194 FAX: 86 (0) 25-84412954
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOV. 4, 2008
REGISTRATION NO. :
320000000077208
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
30
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 69,907,000 (AS OF DEC. 31,
2010)
EQUITIES :
N/A (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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 Ren Min Bi
SC was registered as a Limited liabilities co. at local Administration for Industry &
Commerce (AIC-The official body of issuing and renewing business license) on
Nov. 4, 2008.
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 importing and exporting commodities and technologies;
domestic trade; property management; decoration project both inside room and
out side room; engineering equipment maintenance.
SC is mainly
engaged in selling mechanical and electric products.
Mr. Liang
Yingjun is legal representative,
chairman and general manager of SC at present.
SC is known
to have approximately 30 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Nanjing. Our checks revealed that SC
rents the total premise, but detailed information about the premise is
unspecified.
http://www.smtic.com/
The design is professional and the content is well organized. At present the
web site is in English version.
E-mail: sutex3@sutex.net.cn
Certificates:
=========
ISO9001: 2000 Quality Management System
ISO14001: 2004 Environment Management System
MAIN SHAREHOLDERS:
Name %
of Shareholding
Han Yonghon 13.5
Hu Jin 13.0
Hu Zunxian 8.5
Jiangsu Textile Industry (Group) Import and Export
Co., Ltd. 65.0
Jiangsu Textile Industry (Group) Import and
Export Co., Ltd.
============================================
Incorporation Date: Jun. 10, 1992
Registration No.: 320000000006296
Add: 10-12th Textile Mansion, No. 482,
Zhongshandong Road, Nanjing, Jiangsu Province
TEL: 86 (0) 25-84400656
FAX: 86 (0) 25-84413215
Website: http://www.sutex.net.cn
l
Legal representative, chairman and general manager:
Mr. Liang Yingjun , ID# 310105196706052417, born in 1967. He is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative, chairman and general manager;
Also working in Nanjing
Tongjia Apparel Co., Ltd. as legal representative.
l
Directors:
Han Yonghong ID#
610103196505122157
Hu Jin ID# 320102196703202830
Zhang Shiyi ID# 320102195906052014
Li Zhixiang ID# 320113196912242037
l
Supervisor:
Hu Zunxian ID#
342426198403234816
SC is mainly
engaged in selling mechanical and electric products.
SC’s products
mainly include:
Spinning machinery
Weaving machinery
Dyeing and
finishing machinery
Spinning
Accessories
Weaving
Accessories
Coal/Biomass Fired
Power Plant
Steam Boiler&
Thermal Oil Heater
Solar/Wind Power
Products
Solar Panel
Solar Power System
Solar Lights
Wind Power System
Etc.
SC sources its materials
80% from domestic market, and 20% from overseas market. SC sells 40% of its
products in domestic market, and 60% 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 refused
to release its major suppliers and customers.
Jiangsu Textile Industry (Group) Garments Import & Export Co., Lt
Jiangsu
Textile Industry (Group) Knitwear Import & Export Co., Ltd.
Nanjing Tongjia Apparel Co., Ltd.
Nanjing
Tongjin Garments Co., Ltd.
Sutex
Wuxi International Trading Co., Ltd.
Etc.
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.
We could not
find the bank information on SC in local AIC.
Financial Summary
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Unit: CNY’ 000 |
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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Total liabilities |
29 |
/ |
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Shareholders equities |
6,512 |
/ |
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--------------- |
--------------- |
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Total assets |
6,541 |
/ |
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========== |
========== |
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Turnover |
46,146 |
69,907 |
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Profit before tax |
2,028 |
3,486 |
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Less: Profit tax |
495 |
883 |
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Net profit |
1,533 |
2,603 |
Note: we did not find SC’s detailed
financial reports at local AIC for Yr2009 and Yr2010.
Important Ratios
===============
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as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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*Liabilities
to assets |
0.004 |
/ |
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*Net profit
margin (%) |
3.32 |
3.72 |
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*Return on
total assets (%) |
23.44 |
/ |
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*Turnover/Total
assets |
7.05 |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin appears average in both 2
years.
l
SC’s return on total assets appears good in 2009.
l
SC’s turnover is in a fairly good level in 2009,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in 2009.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
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UK Pound |
1 |
Rs.87.93 |
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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 |
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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 |
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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.