MIRA INFORM REPORT
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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG
STRONG METAL TECHNOLOGY CO., LTD. |
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Registered Office : |
No. 30 Shizhou Industry Zone,
Chencun Town, Shunde District, Foshan,
Guangdong Province 528313 PR |
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Country : |
China |
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Date of Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
440681000119869 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject engaged
in heat treatment processing; manufacturing heat treatment equipment; surface
engineering technology and special mould development. |
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No. of Employees : |
300 |
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 : |
Unknown |
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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) |
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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 |
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.
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Source : CIA |
COMPANY NAME & ADDRESS
GUANGDONG
STRONG METAL TECHNOLOGY CO., LTD.
NO. 30
SHIZHOU INDUSTRY ZONE, CHENCUN TOWN, SHUNDE DISTRICT
FOSHAN,
GUANGDONG PROVINCE 528313 PR CHINA
TEL: 86
(0) 757-23322638/23311093
FAX: 86
(0) 757-23322619/23319228
EXECUTIVE SUMMARY
Date of Registration : MARCH 6, 2000
REGISTRATION NO. : 440681000119869
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 20,000,000
staff : 300
BUSINESS CATEGORY :
processing & manufacturing & trading
Revenue : N/A (AS OF
DEC. 31, 2012)
EQUITIES : N/A (AS OF
DEC. 31, 2012)
WEBSITE : www.strongmetal.cn
E-MAIL :
furnace@strongmetal.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.12 = 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 with State Administration
of Industry & Commerce (SAIC) under registration No.: 440681000119869 on March 6,
2000.
SC’s Organization Code Certificate
No.: 72244413-X
SC’s Tax No.: 44068172244413X
SC’s registered capital: cny 20,000,000
SC’s paid-in capital: cny 20,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2001-12 |
Legal Representative |
Lu Ruming |
Lu Hanming |
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2003-03 |
Company Name |
Shunde Strong Metal Technology
Co., Ltd. |
Foshan Shunde Strong Metal
Technology Co., Ltd. |
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2005-05 |
Company Name |
Foshan Shunde Strong Metal
Technology Co., Ltd. |
Guangdong Strong Metal
Technology Co., Ltd. |
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2008-11 |
Registered Capital |
CNY 3,000,000 |
CNY 7,700,000 |
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Registration No. |
4406812005489 |
440681000119869 |
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Shareholder (s) (% of Shareholding) |
Lu Weiming 20% Lu Hanming 20% Guan Yongxiang 10% Su Yuhui 20% Dong Xiaohong 20% Guan Yongfa 10% |
Lu Weiming 16% Wang Guimao 5% Lu Hanming 18% Su Yuhui 16% Guan Yongxiang 8.5% Chen Zhiqiang 5% Dong Xiaohong 16% Guan Yongfa 8.5% Liang Hang 7% |
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|
-- |
Registered Capital |
CNY 7,700,000 |
cny 20,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Lu Weiming |
16 |
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Wang Guimao |
5 |
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Lu Hanming |
18 |
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Su Yuhui |
16 |
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Guan Yongxiang |
8.5 |
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Chen Zhiqiang |
5 |
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Dong Xiaohong |
16 |
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Guan Yongfa |
8.5 |
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Liang Hang |
7 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Lu Hanming |
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General Manager |
Dong Xiaohong |
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Director |
Guan Yongfa |
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Su Yuhui |
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Supervisor |
Lu Weiming |
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Chen Zhiqiang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Lu Weiming
16
Wang Guimao
5
Lu Hanming
18
Su Yuhui
16
Guan Yongxiang
8.5
Chen Zhiqiang
5
Dong Xiaohong
16
Guan Yongfa
8.5
Liang Hang
7
MANAGEMENT
Lu
Hanming, Legal
Representative and Chairman
----------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 440623195710142313
Ø
Age: 56
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Dong Xiaohong, General
Manager
--------------------------------------------------------
Ø
Gender: M
Ø
ID# 440106196411162112
Ø
Age: 49
Ø Working experience
(s):
At present, working in SC as general manager
Director
-----------
Guan Yongfa
Su Yuhui
Supervisor
-------------
Lu Weiming
Chen Zhiqiang
BUSINESS OPERATION
SC’s registered business scope includes researching,
developing, manufacturing and selling metal materials, metal tools, mould,
optical, mechanical and electronic integration products and supplying
technology services (excluding the products privileged, prohibited or
franchised); metal heat treatment process; manufacturing heat treatment
equipment and parts; processing welding & vacuum coating, manufacturing
related equipment and materials; manufacturing industrial electric stove and
parts; exporting self made products and importing machines, components and raw
materials required in manufacturing, excluding the items prohibited by the
state.
Main Business:
heat treatment processing; manufacturing heat treatment equipment; surface
engineering technology and special mould development, etc.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 80% of its
products in domestic market, and 20% to overseas market.
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.
Staff & Office:
--------------------------
SC is
known to have approx. 300 staff
at present.
SC rents 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 local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 13 years
business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.69 |
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UK Pound |
1 |
Rs.100.27 |
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Euro |
1 |
Rs.84.45 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.