MIRA INFORM REPORT
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Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG WINTO CERAMICS CO., LTD. |
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Registered Office : |
Dalan Industry Zone, Guanyao, Nanhai
District, Foshan, Guangdong
Province 528031 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.03.1999 |
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Com. Reg. No.: |
440682400002285 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture
Enterprise |
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Line of Business : |
manufacturing and selling decorative
ceramic tile |
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No. of Employees
: |
4100 |
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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Maximum Credit Limit : |
USD 1,000,000 |
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Status : |
Good |
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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 & address
guangdong winto ceramics co., ltd.
dalan industry zone,
guanyao, nanhai district, foshan
guangdong province
528031 PR CHINA
TEL: 86 (0)
757-82267828
FAX: 86 (0)
757-82267838
EXECUTIVE SUMMARY
Date of Registration : march 3, 1999
REGISTRATION NO. : 440682400002285
LEGAL FORM : Chinese-foreign equity joint venture
enterprise
REGISTERED CAPITAL :
cny 80,000,000
staff : 4,100
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 623,796,000
(AS OF DEC. 31, 2010)
EQUITIES :
CNY 132,002,000 (AS OF DEC. 31, 2010)
WEBSITE : www.winto100.com
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
1,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRly stable
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = USD 1
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
SC was established
as a limited liabilities company of PRC on March 3, 1999. However, SC changed to present legal form, and was
registered as Chinese-foreign equity joint venture enterprise of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
440682400002285 on November 29, 2005.
SC’s Organization Code Certificate
No.: 70811987-5
SC’s registered capital: cny 80,000,000
SC’s paid-in capital: cny 80,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
|
Shareholder
(s) (% of Shareholding) |
Liang
Tongji 10% Liang Tongwei 10% Liang Tongcan 80% |
Ou
Jiarui 10% Liang Tongcan 90% |
|
|
Registered Capital |
CNY
3,000,000 |
CNY
10,000,000 |
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Company
Name |
Foshan
Nanhai Winto Ceramics Co., Ltd. |
Guangdong Winto Ceramics Co., Ltd. |
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Registered Capital |
CNY
10,000,000 |
CNY
30,000,000 |
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Registration No. |
4406822000807 |
001942 |
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Legal Form |
Limited liabilities company |
Chinese-foreign equity joint venture enterprise |
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Shareholder
(s) (% of Shareholding) |
Ou
Jiarui 10% Liang Tongcan 90% |
Orient International Company Limited 25% Liang Tongcan 70% Ou
Jiarui 5% |
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|
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Registered Capital |
CNY
30,000,000 |
CNY
60,000,000 |
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|
Registered Capital |
CNY
60,000,000 |
CNY
80,000,000 |
|
Registration No. |
001942 |
440682400002285 |
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|
-- |
Shareholder
(s) (% of Shareholding) |
Orient International Company Limited 25% Liang Tongcan 70% Ou
Jiarui 5% |
Guangdong Hongyu Group Co., Ltd. 56.25% Orient International Company Limited
43.75% |
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Guangdong Hongyu Group Co., Ltd. |
56.25 |
|
Orient International Company Limited (Brunei) |
43.75 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Liang Tongcan |
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Vice Chairman |
Ou
Jianping |
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Director |
Ou Jiarui |
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Supervisor |
Liang
Yongmei |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Guangdong Hongyu Group Co., Ltd. 56.25
Orient International Company
Limited (Brunei) 43.75
MANAGEMENT
Liang Tongcan, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 48
Ø
ID# 440601196409283412
Ø
Qualification:
University
Ø
Working
experience (s):
From 1999 to present, working in SC as legal representative, chairman and general manager
Ou
Jianping, Vice Chairman
-------------------------------------------------
Ø
Gender: M
Ø
Nationality: USA
Ø
ID# 213135287
Ø
Qualification:
University
Ø
Working
experience (s):
From 1999 to present, working in SC as vice chairman
Ou Jiarui, Director
-------------------------------------
Ø
Gender: M
Ø
Age: 63
Ø
ID# 44062119490626311X
Liang
Yongmei, Supervisor
-----------------------------------------------
Ø
Gender: M
Ø
Age: 41
Ø
ID# 440623197109143680
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling various high-grade environment-friendly building decorative ceramic
tiles, sanitary ware, tiles, ceramic pigment, inside and outside wall tiles,
floor tiles, and square brick.
SC is
mainly engaged in manufacturing and selling decorative ceramic tile.
Brand: Winto,
Hongyu, Venizea, etc.
SC’s
products mainly include: Glazed Ceramic Tiles, etc.
Etc.
SC sources its materials 100% from domestic
market, mainly Guangdong. SC sells 66% of its products in domestic market, and
34% to overseas market, mainly USA, Europe, Southeast Asia and Mid East.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 4,100
staff at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
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 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
1,012 |
|
Total assets |
451,949 |
731,067 |
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|
------------- |
------------- |
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Long term liabilities |
0 |
200,000 |
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Total liabilities |
329,098 |
599,065 |
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Equities |
122,851 |
132,002 |
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------------- |
------------- |
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Revenue |
525,991 |
623,796 |
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Profit before
tax |
10,315 |
11,899 |
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Less: profit tax |
858 |
2,261 |
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Profits |
9,457 |
9,638 |
Note: The detailed financials for Y2009 and Y2010 are not available in
SAIC.
Important Ratios
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|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.73 |
0.82 |
|
*Net profit
margin (%) |
1.80 |
1.55 |
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*Return on total
assets (%) |
2.09 |
1.32 |
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*
Revenue/Total assets |
1.16 |
0.85 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good, and it was
rising in 2010.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
LIQUIDITY:
FAIR
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
CONCLUSIONS
SC is considered large-sized in its line with
fairly stable financial conditions. A credit line up to USD 1,000,000 would appear to be within
SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.79 |
|
UK Pound |
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.73 |
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.