MIRA
INFORM REPORT
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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING CHONGLEE MACHINERY ENGINEERING CO., LTD. |
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Registered Office : |
No. 3, Xingguang, No. 4 Street, Opto-Mechatronics
Industrial Park, Zhongguancun Science And Technology Park, Tongzhou District,
Beijing 101111 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.01.2005 |
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Com. Reg. No.: |
110000007892165 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of business : |
Manufacturing and selling complete chemical fiber production equipment. |
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No. of Employees : |
862 |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
Since the late 1970s
Source : CIA
Company name and address
BEIJING CHONGLEE MACHINERY ENGINEERING CO., LTD.
NO. 3, XINGGUANG, NO. 4 STREET, OPTO-MECHATRONICS INDUSTRIAL PARK, ZHONGGUANCUN SCIENCE AND TECHNOLOGY PARK,
TONGZHOU DISTRICT, BEIJING 101111 PR CHINA
TEL: 86 (0) 10-65987921/65031572
FAX: 86 (0) 10-65987455/65922560
EXECUTIVE SUMMARY
Date of Registration : JANUARY 5, 2005
REGISTRATION NO. : 110000007892165
LEGAL FORM : ONE-PERSON LIMITED
LIABILITY COMPANY
REGISTERED CAPITAL : cny 150,000,000
staff :
862
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 808,031,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 161,632,000 (AS OF DEC. 31, 2011)
WEBSITE : www.ctamp.com.cn
E-MAIL :
cmec@vip.sina.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.27 = 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 one-person limited liability
company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 110000007892165 on January 5, 2005.
SC’s Organization Code Certificate No.:
77042757-X
SC’s registered capital: cny 150,000,000
SC’s paid-in capital: cny 150,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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Legal Representative |
Zhou Quanzhong |
Tong Wenqi |
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Registered Capital |
CNY 20,000,000 |
CNY 110,000,000 |
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%Shareholding |
Beijing Chonglee
Machinery & Chemical Fiber Engineering Co., Ltd. 80% Langfang Development Zone Dazhongli Chemical Fiber Technology
Equipment Co., Ltd. 20% |
Beijing Chonglee
Machinery & Chemical Fiber Engineering Co., Ltd. 96.36% Langfang Development Zone Dazhongli Chemical Fiber Technology
Equipment Co., Ltd. 3.64% |
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Shareholder (s) |
Beijing Chonglee
Machinery & Chemical Fiber Engineering Co., Ltd. 96.36% Langfang Development Zone Dazhongli Chemical Fiber Technology
Equipment Co., Ltd. 3.64% |
Beijing Chonglee
Machinery & Chemical Fiber Engineering Co., Ltd. 100% |
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Legal Form |
Limited Liability Company |
One-Person Limited Liability Company |
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Shareholder (s) |
Beijing Chonglee
Machinery & Chemical Fiber Engineering Co., Ltd. 100% |
China Textile Academy 100% |
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Registered Capital |
CNY 110,000,000 |
cny 150,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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China Textile Academy |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Tong Wenqi |
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Director |
Li Wenfang |
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Shen Wei |
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Liu Fu’an |
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Wang Youde |
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Wang Liru |
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Supervisor |
Zhao Guangsheng |
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Zhang Lu |
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Shi Hongxia |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China Textile Academy 100
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China Textile Academy (CTA) was founded in
1956, originally affiliated to the Ministry of Textile Industry; in 1999, it
was transformed to the largest comprehensive science and technology R & D
institute in China’s textile industry, operating directly under the leadership
of the central government.
Address: No.3 Yanjingli Middle Street,
Chaoyang District, Beijing, China
Tel: 86 (0) 10-65987114
Fax: 86 (0) 10-65010837
Web: www.cta.com.cn
E-mail: cta@public3.bta.net.cn
MANAGEMENT
Tong Wenqi , Legal Representative, Chairman and General
Manager
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Ø
Gender: M
Ø
Age: 52
Ø
ID# 410105600219383
Ø
Qualification:
University
Ø
Working
experience (s):
From 2002 to 2005, worked in Zhengzhou Textile
Machinery Co., Ltd
From 2005 to present, working in SC as legal
representative, chairman and general manager
Director
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Li Wenfang ID#:
110105195311040487
Shen Wei ID#:
320525196302140559
Liu Fu’an ID#:
110105195512160071
Wang Youde ID#:
110105481223005
Wang Liru ID#:
110105510225002
Supervisor
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Zhao Guangsheng
Zhang Lu
Shi Hongxia
BUSINESS OPERATION
SC’s registered
business scope includes manufacturing equipment
for chemical fiber industrial production; general freight; selling equipment for chemical fiber
industrial production, mechanical
electrical equipment, chemical products(excluding dangerous chemicals);
professional contracting; technology developing, transferring, consulting, and
servicing, engineering technology training; import and export of goods and
technologies.
SC is mainly
engaged in manufacturing and selling complete chemical fiber
production equipment.
SC’s products
mainly include: POY high speed spinning machining series, FDY spinning and
drawing machine series, industrial yarn spinning machine series, differential
yarn spinning machine series, high speed winders.
SC sources its materials 100% from domestic market. SC sells 70% of its products in domestic market, and 30% to overseas market.
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.
Staff & Office:
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SC is known
to have approx. 862 staff at
present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is known to have 3 subsidiaries
and a branch at present:
n
Beijing Chonglee Machinery Electric Co., Ltd.
n
Beijing Chonglee Machinery Parts Co., Ltd.
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Beijing Chonglee Machinery Spinneret Co., Ltd.
n
Beijing Chonglee Machinery Engineering Co., Ltd. Xiaoshan Branch
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
Basic Bank:
Industrial & Commercial Bank of China Balizhuang Office
AC#: 065492-64
Note: SC’s
management declined to release whether it has an account in HSBC Bank China Company Ltd.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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Long term investment |
8,486 |
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Total assets |
1,801,041 |
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Total
liabilities |
1,639,409 |
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Equities |
161,632 |
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Revenue |
808,031 |
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Profit before
tax |
8,058 |
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Less: profit tax |
1,813 |
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Profits |
6,245 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
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As
of Dec. 31, 2011 |
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*Liabilities
to assets |
0.91 |
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*Net profit
margin (%) |
0.77 |
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*Return on
total assets (%) |
0.35 |
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*
Revenue/Total assets |
0.45 |
FINANCIAL COMMENTS
PROFITABILITY:
AVEARGE
l
The revenue of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
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 medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.78 |
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1 |
Rs.86.77 |
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Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.