MIRA
INFORM REPORT
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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CNBM International
CORPORATION |
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Registered Office : |
17-21/F, No. 4 Building, Zhuyu Business Center, No. 9 Shouti South Road,
Haidian District, Beijing, 100044 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
17.08.2004 |
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Com. Reg. No.: |
110102007417602 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in importing and exporting building materials,
building equipment, ferroalloys products, mineral products. |
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No. of Employees : |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
china - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major global
role - in 2010 China became the world's largest exporter. Reforms began with
the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, creation of a diversified banking system, development of
stock markets, rapid growth of the private sector, and opening to foreign trade
and investment. China has implemented reforms in a gradualist fashion. In
recent years, China has renewed its support for state-owned enterprises in
sectors it considers important to "economic security," explicitly
looking to foster globally competitive national champions. After keeping its
currency tightly linked to the US dollar for years, in July 2005 China revalued
its currency by 2.1% against the US dollar and moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation. The restructuring of the economy and resulting efficiency
gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2012 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's agricultural
and industrial output each exceed those of the US; China is second to the US in
the value of services it produces. Still, per capita income is below the world
average. The Chinese government faces numerous economic challenges, including:
(a) reducing its high domestic savings rate and correspondingly low domestic
demand; (b) sustaining adequate job growth for tens of millions of migrants and
new entrants to the work force; (c) reducing corruption and other economic
crimes; and (d) containing environmental damage and social strife related to
the economy's rapid transformation. Economic development has progressed further
in coastal provinces than in the interior, and by 2011 more than 250 million
migrant workers and their dependents had relocated to urban areas to find work.
One consequence of population control policy is that China is now one of the
most rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
Debt overhang from the stimulus program, particularly among local governments,
and a property price bubble challenge policy makers currently. The government's
12th Five-Year Plan, adopted in March 2011, emphasizes continued economic
reforms and the need to increase domestic consumption in order to make the
economy less dependent on exports in the future. However, China has made only
marginal progress toward these rebalancing goals.
|
Source
: CIA |
company name and address
CNBM International CORPORATION
17-21/F, No. 4 Building, Zhuyu Business Center,
No. 9 Shouti South Road, HAIDIAN DISTRICT, BEIJING, 100044 PR CHINA
TEL: 86 (0) 10-68796888/68796319/68796661 FAX: 86 (0) 10-68796677
EXECUTIVE SUMMARY
INCORPORATION DATE : august 17, 2004
REGISTRATION NO. : 110102007417602
REGISTERED LEGAL FORM : Limited liabilities
company
CHIEF EXECUTIVE :
MR. ZHANG JINSONG (CHAIRMAN)
STAFF STRENGTH :
400
REGISTERED CAPITAL : CNY 150,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 6,317,050,000 (AS OF DEC.
31, 2012)
EQUITIES :
CNY 238,190,000 (AS OF DEC. 31, 2012)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE :
CNY
6.1154 = 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 17, 2004.
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 internet information service
(excluding news, publish, education, medical care, pharmaceutical, medical
device) (the period of validity of the license until Mar. 26, 2017). Goods
import and export; import and export as agent; technology import and export;
selling building materials, metal materials, auto parts, hardware, mineral
products, chemical products (excluding Class I precursor chemicals and
hazardous chemicals), machinery equipment, instrument and meter, timber, paper,
native products, commodities, knitting and textiles; decorative design;
interior design; technology developing; undertaking exhibition and show;
information consulting. (Excluding items need special permit).
SC is mainly engaged in importing and exporting building materials,
building equipment, ferroalloys products, mineral products.
Mr. Zhang Jinsong has been legal representative and chairman of SC since
2011.
SC is known to have approx. 400 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and head office in the commercial zone of Beijing.
SC’s accountant refused to release detailed information about the premise.
www.icnbm.com
The design is professional and the content is well organized. At present it is
in Chinese, English and Arabic versions.
Email: marketing@okorder.com
See below for SC as executive party (defendant).
|
Executed Party |
CNBM International Corporation |
|
Court |
Rizhao City Intermediate People’s Court |
|
Date of Case |
June 28, 2012 |
|
Case Number |
(2012) 00035 |
|
Claim Amount |
CNY 231,896.42 |
|
Case Status |
Completed |
Remark: Due to the lack of information, we are unable
to provide the cause of action, judgment or other information.
SC passed the ISO9001, CE, SC and UL Certificate.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2007-10-22 |
Registered capital |
CNY 10,000,000 |
CNY 20,000,000 |
|
2008-04-15 |
Registered capital |
CNY 20,000,000 |
CNY 50,000,000 |
|
2009-12-24 |
Registered capital |
CNY 50,000,000 |
CNY 75,000,000 |
|
Unknown |
Registered capital |
CNY 75,000,000 |
CNY 100,000,000 |
|
2011 |
Registered capital |
CNY 100,000,000 |
CNY 150,000,000 |
|
Legal representative |
Wu Suhua |
Zhang Jinsong |
Note: SC changed its Chinese name in 2008, while its English name remains
the same.
MAIN SHAREHOLDERS:
Name %
of Shareholding
China National Building Materials & Equipment Import & Export
Corporation 81.6
Beijing Yizehainei Management Consultant Co., Ltd. (in Chinese Pinyin) 18.4
China National Building Materials &
Equipment Import & Export Corporation
=========================================================
Registration no.: 110000005021759
Legal form: State-owned enterprise
Legal representative: Huang Anzhong
Incorporation date: Feb. 8, 1994
Registered capital: CNY 900,000,000
China National Building Materials & Equipment Import & Export
Corporation (CBMIE) is an integrated service supplier of international trade in
building materials. CBMIE is under the supervision of the State-owned Assets
Supervision and Administration Commission of the State Council.
Address: 17-21/F, Building 4, Interwest Business Center, No. 9, Shouti
South Road, Haidian District, Beijing, 100048 PR China
Website: www.cnbminternational.com
Tel: +86-10-68796666/68796890
Fax: +86-10-68796688
Beijing Yizehainei Management Consultant Co., Ltd. (in Chinese Pinyin)
----------------------------------------------------------------------------------------
Registration No.: 110000014273617
Legal representative: Piao Chaomei
Incorporation date: September 22, 2011
Registered capital: CNY 5,000,000
Legal representative and chairman:
Mr. Zhang Jinsong, ID# 32062619710206XXXX, born in 1971, with university
education. He is currently responsible for the overall management of SC.
Working
Experience(s):
From 2011 to present Working
in SC as legal representative and chairman.
Directors:
Xia Hongbo ID# 11010519600310XXXX
Piao Chaomei ID# 11010819630813XXXX
Tang Zaixin ID# 11010219550929XXXX
Supervisor:
Liu Shanshan ID# 11010819740126XXXX
SC is mainly engaged in importing and exporting building materials,
building equipment, ferroalloys products, mineral products.
Main Products: building materials, building equipments, ferroalloys
products, mineral products.
SC sources its materials 90% from domestic market, and 10% from overseas
market. SC sells 10% of its products in domestic market, and 90% to overseas
market, mainly Mid-East.
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’s
management declined to release its major suppliers and customers.
CNBM International Engineering Co., Ltd.
Website: www.cnbmengineering.com
E-mail: engineering@cbmie.com
Tel: +86-10-68796868
Fax: +86-10-68796209
Wuxi CNBM Steel Corporation
Website: www.steel-mart.cn
Tel: +86-510-83072395/83072396
Fax: +86-510-83072397
CNBM International Shanghai Co., Ltd.
Shanghai Jianpu Import & Export Co., Ltd.
CNBM Technology Co., Ltd.
CNBM New Energy Engineering Co., Ltd.
Etc.
Overseas:
CNBM USA Corporation
Address: 650 Camino De Gloria, Walnut CA 91789
Fax: 0086-10-68796668
E-mail: freemanliu@okorder.com;
cnbmusa@aol.com
China National Building Material Group Fze
Address: Plot No. S30408, JAFZA South, Jebel Ali Free Zone, DUBAI.
Tel: 00971-4-8849096
Fax: 00971-4-8849091
Mobile: 00971 55 1038518 (Eric Fu)
E-mail: ericfu@okorder.com
Jianhua Co., Ltd
Address: 115201, Russia, Moscow, Kashirskiy proezd, 17/24
Tel: 007-499-7945371
Fax: 007-495-7480366
Mobile: 007-926-5307715(Mr Zhang)
E-mail: zxd@okorder.com
CNBM K.S.A Branch
Address: P.O.BOX: 365028 Riyadh 11393 K.S.A
Tel: 00966-1-4611362
Fax: 00966-1-4611279
Mobile: 00966-504415525 (Mr. David Dai)
E-mail: david_dai@okorder.com
CNBM India Private Limited
Address: #
Himayatnagar, Hyderabad-500029, Andhra Pradesh, India
Tel: 0091-40-27611800
Fax: 0091-40-27611800
Mobile: 0091-7738791500/0086-13488896885 (Only Xiao)
E-mail: onlyxiao@okorder.com
CNBM Vietnam Company Limited
Address: SO 115, TT3, KDT MY DINH-SONG DA, TU LIEM DISTRICT, HA NOI,
VIETNAM
Tel: 0084-4-37878481
Mobile: 0166-4841041 (Rock Wei)
E-mail: rockwei@okorder.com
PT. CNBM International Indonesia
Address: JALAN PROF DR SATRIO KAV 1 JAKARTA 12940 INDONESIA
Tel: 0062-021 522 5217
Fax: 0062-021 522 5217
Mobile: 0062 85888811790/0086 13661226134 (Edvin Meng),
0086 13810736718(Claudia Zhang)
E-mail: edvinmeng@okorder.com
CNBM Germany GmbH
Address: Landshuter Allee 8-10
,80637 Muenchen, Deutschland (Germany)
Tel: 0049-89-54558192
Fax: 0049-89-557443
Mobile: 0049-1797595146/ 0086-15001171431 (Steven Wang)
E-mail: europe@cnbmsolar.com
CNBM International Ukraine Co., Ltd.
Address: 03680 Ukraine Kyiv, Predslavinska str.28, office 402
Tel: 0038-0445286588
Fax: 0038-0445288166
Mobile: 0038 0979933033 (Aleksye Li)
E-mail: aleksyeli@cnbmsolar.com
SC is said to invest in other companies, but the details are not
available.
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 China Beijing Chegongzhuang West Road Sub-branch
AC#：349356014859
Relationship: Normal.
Balance Sheet
|
Unit: CNY’000 |
as of Dec. 31,
2012 |
|
Cash & bank |
195,890 |
|
Inventory |
188,760 |
|
Accounts receivable |
422,470 |
|
Advances to suppliers |
172,350 |
|
Notes receivable |
30,100 |
|
Other receivables |
168,740 |
|
Other current assets |
30 |
|
|
------------------ |
|
Current assets |
1,178,340 |
|
Fixed assets net value |
3,500 |
|
Long term investment |
99,760 |
|
Intangible assets |
2,100 |
|
Deferred tax assets |
1,140 |
|
Other assets |
10 |
|
|
------------------ |
|
Total assets |
1,284,850 |
|
|
============= |
|
Short loans |
810,000 |
|
Notes payable |
51,610 |
|
Accounts payable |
20,120 |
|
Advances from customers |
88,270 |
|
Accrued payroll |
1,140 |
|
Taxes payable |
-17,090 |
|
Other payable |
92,580 |
|
Other current liabilities |
30 |
|
|
------------------ |
|
Current liabilities |
1,046,660 |
|
Long term liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
1,046,660 |
|
Equities |
238,190 |
|
|
------------------ |
|
Total liabilities & equities |
1,284,850 |
|
|
============= |
Income
Statement
|
Unit: CNY’000 |
as of Dec. 31,
2012 |
|
Turnover |
6,317,050 |
|
Cost of goods sold |
5,826,210 |
|
Taxes and additional of main operation |
340 |
|
Sales expense |
280,370 |
|
Management expense |
16,750 |
|
Finance expense |
151,340 |
|
Investment income |
2,420 |
|
Asset impairment loss |
2,360 |
|
Non-operating income |
1,660 |
|
Non-operating expense |
150 |
|
Income from other operations |
4,840 |
|
Other operating expense |
5,180 |
|
Profit before tax |
43,270 |
|
Less: profit tax |
10,300 |
|
Profits |
32,970 |
Important
Ratios
=============
|
|
As of Dec. 31,
2012 |
|
*Current ratio |
1.13 |
|
*Quick ratio |
0.95 |
|
*Liabilities to assets |
0.81 |
|
*Net profit margin (%) |
0.52 |
|
*Return on total assets (%) |
2.57 |
|
*Inventory /Turnover ×365 |
11days |
|
*Accounts receivable/Turnover ×365 |
24days |
|
*Turnover/Total assets |
4.92 |
|
* Cost of goods sold/Turnover |
0.92 |
PROFITABILITY:
FAIRLY GOOD
The turnover of SC appears good in its line in 2012
SC’s net profit margin appears average in 2012.
SC’s return on total assets appears average in 2012.
SC’s cost of goods sold is average in 2012, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in 2012.
SC’s quick ratio of SC is maintained in a normal level in 2012.
The inventory of SC appears average in 2012.
The accounts receivable of SC appears average in 2012.
The short-term loan appears LARGE in 2012.
SC’s turnover is in a fairly good level in 2012, comparing with the size
of its total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is fairly high in 2012.
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Stable
SC is considered large-sized in its line with favorable background and
fairly stable financial conditions. The large amount of short-term loan could
be a threat to SC’s financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report Prepared by
: |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
---- |
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.