MIRA
INFORM REPORT
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Report Date : |
06.08.2014 |
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IDENTIFICATION DETAILS
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Name : |
MINMETALS
YINGKOU MEDIUM PLATE CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
21.06.2002 |
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Com. Reg. No.: |
210800004032588 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
·
Manufacturing and operating steel, iron and raw
materials (excluding the items limited by the state), hot rolled plate, plate
products, oxygen (liquefied), nitrogen (liquefied), argon (liquefied)
{oxygen, nitrogen, argon production and operation permit} (exporting a
variety of medium and heavy plate, plate products
produced by the company, importing raw materials, equipment and apparatus
needed by producing); materials processing plate; ·
Selling electrical energy. |
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No. of Employees |
1,000 |
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 : |
Slow but Correct |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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, growth of the private sector, development of stock
markets and a modern banking system, 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
considered important to "economic security," explicitly looking to
foster globally competitive industries. After keeping its currency tightly
linked to the US dollar for years, in July 2005 China 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 and expanded the daily trading band within
which the RMB is permitted to fluctuate. 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 2013 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 consumption; (b) facilitating higher-wage job
opportunities for the aspiring middle class, including rural migrants and
increasing numbers of college graduates; (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. Several factors are converging to slow China's growth, including
debt overhang from its credit-fueled stimulus program, industrial overcapacity,
inefficient allocation of capital by state-owned banks, and the slow recovery
of China's trading partners. The government's 12th Five-Year Plan, adopted in
March 2011 and reiterated at the Communist Party's "Third Plenum"
meeting in November 2013, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent in
the future on fixed investments, exports, and heavy industry. However, China
has made only marginal progress toward these rebalancing goals. The new government
of President XI Jinping has signaled a greater willingness to undertake reforms
that focus on China's long-term economic health, including giving the market a
more decisive role in allocating resources.
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Source
: CIA |
Company name and address
MINMETALS YINGKOU MEDIUM PLATE CO., LTD.
NO. 1 FANRONG
ROAD, YEJIN STREET, LAOBIAN DISTRICT YINGKOU, LIAONING PROVINCE 115005 PR CHINA
TEL: 86 (0)
417-3256012
FAX: 86 (0)
417-3256000
EXECUTIVE SUMMARY
Date of Registration : JUNE 21, 2002
REGISTRATION NO. : 210800004032588
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
DENG
CHUPING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 4,939,083,300
staff :
1,000
BUSINESS CATEGORY : MANUFACTURING & PROCESSING & TRADING
Revenue :
CNY 11,652,056,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 3,774,482,000 (AS OF DEC. 31, 2013)
WEBSITE : www.wkyg.com
E-MAIL :
zhangxu@wkyg.com
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.20 = 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.:
210800004032588 on June 21, 2002.
SC’s Organization Code Certificate No.:
73879551-6
SC’s registered capital: CNY 4,939,083,300
SC’s paid-in capital: CNY 4,939,083,300
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Minmetals Development Co., Ltd. |
50.40 |
|
Rizhao Steel Holding Group Co., Ltd. |
39.96 |
|
China Minmetals Corporation |
3.64 |
|
Shenyang Jiaying Metal Materials Co., Ltd. |
3.04 |
|
Tianjin TEDA Jiacheng Steel Trade Co., Ltd. |
2.02 |
|
Shandong Zhongda International Trade Co., Ltd. |
0.94 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Deng Chuping |
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Vice Chairman |
Wang Lifei |
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General Manager |
Zhang Guiyin |
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Deputy General Manager |
Zhang Yangzhen |
|
Zhang Zhizhong |
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Chai Yue |
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Zhang Lin |
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Che Li |
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Director |
Fu Minying |
|
Xue Jian |
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Wang Hongli |
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He Yu |
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Wang Qinghai |
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Supervisor |
Xun Zhihe |
|
Wu Rongting |
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|
Wu Lihong |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name % of Shareholding
Minmetals Development Co., Ltd. 50.40
Rizhao Steel Holding Group Co., Ltd. 39.96
China Minmetals Corporation 3.64
Shenyang Jiaying Metal Materials Co., Ltd. 3.04
Tianjin TEDA Jiacheng Steel Trade Co., Ltd. 2.02
Shandong Zhongda International Trade Co., Ltd. 0.94
Minmetals Development Co., Ltd.
------------------------------
Minmetals Development Co., Ltd. was solely set up by China Minmetals
Corp., with registration date on May 21st, 1997 and IPO on May 28th of the same
year as A Shares on Shanghai Stock Exchange (stock code: 600058).
Achieving an annual revenue of over RMB 100 billion, Minmetals
Development is China’s largest integrated steel trading and logistics services
provider with its business covering different links of ferrous industrial chain
such as metallurgical raw materials trade, steel trade, processing &
distribution and logistics service. The company’s controlling shareholder is
China Minmetals Corporation Limited and the de facto controller is China Minmetals
Corporation. Ranking 228th among the Fortune Global
Date of Registration: May 21, 1997
Registration No.: 110000001200801
Legal Form: Shares limited co.
Legal Representative: Zhou Zhongshu 周中枢
Registered Capital: CNY 1,071,910,711
Add: Block B, No. 5,
Tel: 86 (0) 10- 68494205
Fax: 86 (0) 10-68494207
E-mail: minlist@minmetals.com
Web: www.minlist.com.cn
Rizhao Steel Holding Group Co., Ltd.
------------------------------------
Rizhao Steel Holding Group Co., Ltd. is China's one of the most
competitive private enterprises. After ten years development, the company has
become a production capacity of over ten million, taxpayers billions of
large-scale iron and steel enterprises, with more than 12,000 employees, with
sintering, pelletizing, iron, steel, rolled steel, power generation, oxygen,
etc. set of modern iron and steel production process and related facilities.
Registration No.: 371100018050364
Legal Form: One-person Limited Liability Company
Registered Capital: CNY 800,000,000
Add: No. 600, Yanhai Road, Rizhao, Shandong Province
Tel: 86 (0) 633-6188060
Fax: 86 (0) 633-6180000
E-mail: service@rizhaosteel.com
Web: www.rizhaosteel.com
China Minmetals Corporation
------------------------------------
China Minmetals Corporation is an international metals and mining
corporation committed to providing high-quality services globally, adhering to
a development philosophy of “cherishing limited resources and pursue boundless
development”. It primarily engages in exploration, mining, smelting, processing
and trading for metals and minerals, and is also engaged in finance, real
estate, and mining and metallurgic technology, with business scope covering 28
nations and regions in the world.
Add: TowerA Minmetals Plaza, No.3 Chao Yangmen North Avenue, Dongcheng
District, Beijing, P.R. China 100010
Tel: 86-10-60169000
Fax: 86-10-60167666
Website: www.minmetals.com
E-mail: support@minmetals.com.cn
MANAGEMENT
Deng Chuping, Legal Representative and Chairman
------------------------------------------------------------------------------
Gender: M
Age: 52
Working experience
(s):
At present, working in SC as legal representative and chairman
Also working in Minmetals Development Co., Ltd. as deputy general
manager
Wang Lifei, Vice
Chairman
-----------------------------------------------
Gender: M
Working experience
(s):
At present, working in SC as vice chairman
Zhang Guiyin, General Manager
------------------------------------------------------
Gender: M
Working experience
(s):
At present, working in SC as general manager
Deputy General
Manager
---------------------------------
Zhang Yangzhen
Zhang Zhizhong
Chai Yue
Zhang Lin
Che Li
Director
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Fu Minying
Xue Jian
Wang Hongli
He Yu
Wang Qinghai
Supervisor
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Xun Zhihe
Wu Rongting
Wu Lihong
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and operating
steel, iron and raw materials (excluding the items limited by the state), hot
rolled plate, plate products, oxygen (liquefied), nitrogen (liquefied), argon
(liquefied) {oxygen, nitrogen, argon production and operation permit}
(exporting a variety of medium and heavy plate, plate products
produced by the company, importing raw materials, equipment and apparatus
needed by producing); materials processing plate; selling electrical energy.
SC is mainly engaged in manufacturing,
processing and selling steel, medium and heavy plate.
SC’s products mainly include: carbon structural steel, supper carbon
structural steel, building structural steel, pressure vessel steel, etc.
SC sources its materials 90% from domestic market, and 10% from the
overseas market. SC sells 70% of its products in domestic market, and 30% 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. 1,000
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
China National Minerals Co., Ltd.
------------------------------
Date of Registration: May 30, 1987
Registration No.: 110000005005284
Legal Form: Limited Liabilities Company
Legal Representative: Liu Leiyun
Registered Capital: CNY 900,000,000
Add: Minmetal Building, No. 5, Sanlihe Road, Haidian District, Beijing,
100044 Pr China
Tel: 86 (0) 10-68494308/68494563
Fax: 86 (0) 10-68494580
Minmetals (Hunan) Ferro-Alloys Co., Ltd.
----------------------------------------
Date of Registration: April 26, 2007
Registration No.: 430381000002528
Registered Capital: CNY 286,380,000
Legal Representative: Liu Leiyun
Tel: 86-731-56806847
Fax: 86-731-56806425
Minmetals Steel Co., Ltd.
------------------------------
Date of Registration: January 17, 1997
Registration No.: 110000001144148
Registered Capital: CNY 900,000,000
Legal Representative: Yao Ziping
Tel: 86 (0) 10-68494014/68494812
Fax: 86 (0) 10-68494840/68315155
Etc.
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
Financial Summary
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
Long term investment |
-- |
76,634 |
-- |
|
Total assets |
15,122,596 |
14,690,779 |
18,256,902 |
|
|
------------- |
------------- |
------------- |
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Current liabilities |
-- |
8,682,575 |
-- |
|
Long term liabilities |
-- |
1,795,264 |
-- |
|
|
------------- |
------------- |
------------- |
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Total liabilities |
-- |
10,477,839 |
14,482,420 |
|
Equities |
-- |
4,212,940 |
3,774,482 |
|
|
------------- |
------------- |
------------- |
|
Revenue |
8,030,853 |
7,723,184 |
11,652,056 |
|
Profit before tax |
-- |
-1,123,070 |
-449,982 |
|
Less: profit tax |
-- |
-271,594 |
0 |
|
Profits |
-- |
-851,476 |
-449,982 |
Important Ratios
=============
|
|
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
*Liabilities to assets |
-- |
0.71 |
0.79 |
|
*Net profit margin (%) |
-- |
-11.02 |
-3.86 |
|
*Return on total assets (%) |
-- |
-5.80 |
-2.46 |
|
*Revenue/Total assets |
0.53 |
0.53 |
0.64 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears fairly good in its line.
SC’s net profit margin is fair.
SC’s return on total assets is fair.
LIQUIDITY: FAIR
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered large-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
UK Pound |
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
|
|
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.