MIRA
INFORM REPORT
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Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CHINA METALLURGICAL ENGINEERING & PROJECT CORPORATION |
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Registered Office : |
No. 46, Dongsi West Street,
Dongcheng District, Beijing City, 100711 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.04.2008 |
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Com. Reg. No.: |
110101010983479 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Engaged In Selling Metallurgical Products, And Metallurgy Engineering
Projects |
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No. of Employees : |
80 |
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 200,000 |
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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
CHINA METALLURGICAL
ENGINEERING & PROJECT CORPORATION
NO. 46, DONGSI WEST STREET,
DONGCHENG DISTRICT,
BEIJING CITY, 100711 PR CHINA
TEL: 86 (0) 10-65256538/65289520/65133322-1115 FAX: 86 (0) 10-65268560
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 28, 2008
REGISTRATION NO. :
110101010983479
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 80
REGISTERED CAPITAL : CNY 20,080,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 91,850,000 (UNaudited, AS OF DEC. 31, 2011)
EQUITIES :
CNY 19,280,000 (UNaudited, AS OF
DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 200,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.32 =USD
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
April 28, 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 selling
minerals, building materials and chemical products, mechanical equipment, hardware
and electronic products; technology development, technology promotion,
technology transfer, technical consultation, technical training, technology
intermediary services. (not engage in any items prohibited by law,
administrative regulations and state council; able to engage in items that need
permit according to the regulations of the state council, after obtaining the
permit from relative authorities and the registration in the aic; and
select to deal with any items that do not need any permit.), goods import and
export, technology import and export, import and export agent.
SC
is mainly engaged in selling metallurgical products, and metallurgy engineering
projects.
Mr.
Diao Faming has been legal representative and chairman of SC since 2008.
SC is known
to have approx. 80 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Beijing. Our checks reveal that SC
rents the total premise about 500 square meters.
http://www.mepc.com.cn/ The design
is professional and the content is well organized. At present, it is in English
version.
E-mail: contact@mep.com.cn
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2010-06 |
Registered Capital |
CNY 5,080,000 |
Present amount |
|
Shareholders |
Diao Faming 66.14% Zhang Xiaobing 7.48% Zhang Xinxian 9.45% Zhang Yuan 9.45% Wang Zhiwu 7.48% |
Present ones |
MAIN SHAREHOLDERS:
Name
% of
shareholdings
Diao Faming ID# 330106196604120474
93.33
Zhang Yuan ID# 652322197309274050
2.39
Zhang Xinxian ID# 110107195405280353 2.39
Zhang Xiaobing ID# 142733195704050315
1.89
l
Chairman, Legal Representative & General
Manager:
Mr. Diao Faming, ID# 330106196604120474, born in
1966, with university education. He is currently responsible for the overall
management of SC
Working Experience(s):
From 2008 to present Working in SC as chairman, legal representative
& general manager
Also working in Hebei Qiyuan Engineering Technology Co., Ltd. as legal
representative
l
Directors:
Zhang Yuan
Zhang Xiaobing
Wang Zhiwu
Zhang Xinxian
SC
is mainly engaged in selling metallurgical products, and metallurgy engineering
projects.
SC’s products
mainly include: coke oven, minerals and mechanical equipment, etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% to overseas
market, mainly India and Taiwan.
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 main
customers and suppliers.
Beijing Sino-Steel Industry & Trade Group Corporation
========================================
Registration no.: 110109003872413
Legal representative: Tan Xiaojun
Date of incorporation: June 10, 2002
No. 46, Dongsi West Street, Dongcheng District, Beijing, 100711 Pr China
Tel: 86 (0) 10-65256538
Fax: 86 (0) 10-65268560
Website sources:
Sino-India Metallurgical Engineering & Supply (P) Ltd. (SIMES)
Tel: +91-33-24863133
Fax: +91-33-24863136
SC is known to invest in the following company:
Hebei Qiyuan Engineering Technology Co., Ltd.
==================================
Registration no.: 130100000115050
Legal representative: Diao Faming 刁法明
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.
Bank of Beijing
Jingshan Sub-branch
AC#:
01090314200120108099880
Relationship:
Normal
Balance Sheet (as of Dec. 31, 2011)
Unit: CNY’000
|
Cash & bank |
6,440 |
|
Inventory |
5,470 |
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Accounts
receivable |
3,270 |
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Advances to
suppliers |
42,540 |
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Other
receivables |
2,620 |
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Other current
assets |
160 |
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------------------ |
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Current assets |
60,500 |
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Fixed assets net
value |
1,890 |
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Projects under
construction |
0 |
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Long term
investment |
6,180 |
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Intangible
assets |
360 |
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Other assets |
0 |
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------------------ |
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Total assets |
68,930 |
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============= |
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Short loans |
0 |
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Accounts payable |
6,500 |
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Other payable |
33,630 |
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Taxes payable |
-3,650 |
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Advances from
clients |
13,170 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
49,650 |
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Long term liabilities |
0 |
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------------------ |
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Total
liabilities |
49,650 |
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Equities |
19,280 |
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------------------ |
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Total
liabilities & equities |
68,930 |
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============= |
Income Statement (as of Dec. 31, 2011)
Unit: CNY’000
|
Turnover |
91,850 |
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Cost of goods
sold |
78,520 |
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Add:
Income from other operations |
1,880 |
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Sales expense |
1,430 |
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Management expense |
13,930 |
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Finance expense |
-270 |
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Profit before
tax |
120 |
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Less: profit tax |
30 |
|
Profits |
90 |
Note:
The above financial records have not been audited.
Important Ratios
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as
of Dec. 31, 2011 |
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*Current ratio |
1.22 |
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*Quick ratio |
1.11 |
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*Liabilities
to assets |
0.72 |
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*Net profit
margin (%) |
0.10 |
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*Return on
total assets (%) |
0.13 |
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*Inventory
/Turnover ×365 |
22 days |
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*Accounts
receivable/Turnover ×365 |
13 days |
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*Turnover/Total
assets |
1.33 |
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* Cost of
goods sold/Turnover |
0.85 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in
2011.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
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:
Fairly stable.
SC is considered medium-sized in its line with fairly stable financial conditions. A credit line up to USD 200,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.25 |
|
|
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
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 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.