MIRA
INFORM REPORT
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Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU UNITED METALTEK TRADING CO. LTD. |
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Registered Office : |
No. 16, Jiaqi Road, Xianlin Town, Yuhang District, Hangzhou, Zhejiang Province, 311122 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
13.08.2008 |
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Com. Reg. No.: |
330184000055510 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling coating aluminum coil, aluminum-plastic composite plate, etc. |
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No. of Employees : |
10 |
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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Maximum Credit Limit : |
USD 30,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
HANGZHOU UNITED
METALTEK TRADING CO. LTD.
NO. 16, JIAQI ROAD, XIANLIN TOWN, YUHANG
DISTRICT,
HANGZHOU, ZHEJIANG PROVINCE, 311122 PR
CHINA.
TEL: 86 (0) 571-88680955/89080339 FAX: 86 (0) 571-89080333
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 13, 2008
REGISTRATION NO. :
330184000055510
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 105,360,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 5,570,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 30,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY 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 Renminbi
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 August 13, 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 wholesaling coating aluminum coil, aluminum-plastic composite
plate, cutting tools, plastic-steel compound pipe; importing and exporting
commodities (excluding items prohibited by legal, administrative rules and
regulations, and operating the limited items after obtaining the permits).
SC is mainly
engaged in selling coating aluminum coil, aluminum-plastic composite plate,
etc.
Mr. Cai
Junhui is legal representative and
chairman of SC at present.
SC is known to have approx. 10
employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the industrial zone of Hangzhou. Our checks reveal that SC
rents the total premise, but SC’s accountant refused to release the gross area.
www.united-metaltek.com/
the website belongs to Hangzhou United Metaltek Industrial Holding Co., Ltd.
and it includes information about SC. The design is professional and the content
is well organized. At present the website is in Chinese and English versions.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2009 |
Shareholders |
United Metaltek
(Hangzhou) Co., Ltd. 85% Ma Yue 15% |
Cai Junhui 85% Ma Yue 15% |
|
Unknown |
Registered
capital |
5,000,000 |
The present amount |
|
Shareholders |
Cai Junhui 85% Ma Yue 15% |
The present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Cai Junhui 90
Xia Ni’na 10
l
Legal representative and chairman:
Mr. Cai Junhui , born in 1977. He is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
SC is mainly
engaged in selling coating aluminum coil, aluminum-plastic composite plate,
etc.
Main Products:
coating aluminum coil, aluminum-plastic composite plate, etc.
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 5% of its products in domestic market, and
95% to overseas market, mainly Mid-East and India.
The buying terms of SC include Check, T/T 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.
United Metaltek (Hangzhou) Co., Ltd.
Hangzhou
United Metaltek Industrial Holding Co., Ltd.
United
Metaltek (Zhejiang) Co., Ltd
Hangzhou
United New Material Technology Co., Ltd.
Zhejiang
Jiamo Aluminum-plastic Industrial Co., Ltd.
United
Metaltek (Weihai) 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.
China Construction Bank Hangzhou Yuhang Sub-branch Xianlin Office
AC#:
33001617481059000020
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
|
Cash & bank |
350 |
49,540 |
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Inventory |
0 |
0 |
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Accounts
receivable |
9,920 |
30,230 |
|
Advances to
supplies |
0 |
0 |
|
Other
receivables |
2,850 |
30,740 |
|
Other current
assets |
0 |
10 |
|
|
------------------ |
------------------ |
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Current assets |
13,120 |
110,520 |
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Fixed assets net
value |
2 |
4 |
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Projects under
construction |
0 |
0 |
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Long-term
investments |
0 |
0 |
|
Deferred tax
assets |
130 |
130 |
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Other assets |
8 |
-4 |
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------------------ |
------------------ |
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Total assets |
13,260 |
110,650 |
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|
============= |
============= |
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Short loans |
6,240 |
26,620 |
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Notes payable |
0 |
45,000 |
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Accounts payable |
0 |
16,170 |
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Advances from
customers |
1,850 |
0 |
|
Employee pay
payable |
10 |
0 |
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Taxes payable |
20 |
290 |
|
Other Accounts payable |
510 |
17,000 |
|
Other current
liabilities |
0 |
0 |
|
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----------------- |
----------------- |
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Current
liabilities |
8,630 |
105,080 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
8,630 |
105,080 |
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Shareholders
equities |
4,630 |
5,570 |
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------------------ |
------------------ |
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Total
liabilities & equities |
13,260 |
110,650 |
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|
============= |
============= |
Income Statement (as of Dec. 31, 2009)
Unit: CNY’000
|
Turnover |
105,360 |
|
Cost of goods
sold |
101,090 |
|
Sales expense |
840 |
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Management expense |
380 |
|
Finance expense |
1,790 |
|
Profit before
tax |
1,280 |
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Less: profit tax |
320 |
|
Profits |
960 |
Note: SC has not lodged the latest annual returns
in the local registry, hence no up-to-date detailed financial information could
be provided.
Important Ratios
=============
|
|
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
|
*Current ratio |
1.52 |
1.05 |
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*Quick ratio |
1.52 |
1.05 |
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*Liabilities
to assets |
0.65 |
0.95 |
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*Net profit
margin (%) |
/ |
0.91 |
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*Return on
total assets (%) |
/ |
0.87 |
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*Inventory
/Turnover ×365 |
/ |
0 |
|
*Accounts
receivable/Turnover ×365 |
/ |
105 days |
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*Turnover/Total
assets |
/ |
0.95 |
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* Cost of
goods sold/Turnover |
/ |
0.96 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line
in 2009.
l
SC’s net profit margin is average in 2009.
l
SC’s return on total assets is average in 2009.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover in 2009.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level in both two years.
l
SC’s quick ratio is maintained in a normal level in
both two years.
l
SC has no inventory in both two years.
l
The accounts receivable of SC appears fairly large.
l
SC’s short-term loan appears large in both two
years, especially in 2009.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in 2009.
LEVERAGE: FAIR
l
The debt ratio of SC is average in 2008 but high 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. The large amount of short loans and accounts receivable could be a
threat to SC’s financial condition. A credit line up to USD 30,000 would appear
to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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 |
|
<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 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.