MIRA
INFORM REPORT
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Report Date : |
13.08.2014 |
IDENTIFICATION DETAILS
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Name : |
CHINA NATIONAL MATERIALS INDUSTRY IMPORT & EXPORT CORPORATION |
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Registered Office : |
13F Of Building (A), |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
28.02.1989 |
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Com. Reg. No.: |
100000000038769 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in importing and exporting non-metal mineral products, machinery equipment, heavy oil; technology developing, manufacturing and selling building materials and other non-metal mineral products; international forwarding; technology development, technology transfer, technology consultation, and technology services. |
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No of Employees : |
81 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 & ADDRESS
CHINA NATIONAL
MATERIALS INDUSTRY IMPORT & EXPORT CORPORATION
13F OF BUILDING (A),
YUHUI MANSION, NO. 73 FUCHENG ROAD
HAIDIAN DISTRICT,
BEIJING 100142 PR CHINA
TEL: 86 (0) 10-68710729/68619000
FAX: 86 (0)
10-68710718/68726191
EXECUTIVE SUMMARY
Date of Registration : FEBRUARY 28, 1989
REGISTRATION NO. : 100000000038769
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL : cny 100,000,000
staff :
81
BUSINESS CATEGORY : trading
Revenue :
CNY 6,643,170,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 110,280,000 (AS OF DEC. 31, 2013)
WEBSITE : www.sinoma.cc
E-MAIL :
info@sinoma.cc
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
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 one-person limited liabilities company of PRC with State Administration for
Industry & Commerce (SAIC) under registration No.: 100000000038769.
SC’s Organization Code Certificate No.:
19220724-0
SC’s registered capital: CNY 100,000,000
SC’s paid-in capital: CNY 100,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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2008 |
Chinese Company Name |
中国材料工业科工进出口有限公司 |
中国中材进出口有限公司 |
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2013-11-28 |
Registered Capital |
CNY 50,000,000 |
CNY 100,000,000 |
***Note: SC’s English name remains the same.
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 National Materials Group Corporation |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Han Ruiming |
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Director |
Tang Shouheng |
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Yu Guobo |
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Supervisor |
Yin Hong |
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He Xindong |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name % of
Shareholding
China National Materials Group Corporation 100
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China National Materials Group Corporation
(SINOMA), established in 1983, a central government-administered enterprise
directly under the administration of State-owed Assets Supervision and
Administration Commission of the State Council, is the only enterprise that
possesses a series of core technologies and complete innovation system in
non-metal materials industry of China and integrates the manufacturing,
scientific research and design of non-metal materials and products, project
engineering and construction, equipment manufacturing as well as international
trade. The Group has been listed among the China Top 500 enterprises for
successive years.
Registration No.: 100000000003609
Date of Registration: November 16, 1983
Legal Form: Sole State-owned
Registered Capital: 1,887,479,000
Legal Representative: Liu Zhijiang
Address:
Post: 100035
Tel: 86 (0) 10-82228829
Fax: 86 (0) 10-82229222
Web: www.sinoma.cn
E-mail: sinoma.icm@sinoma.cn
MANAGEMENT
Han Ruiming, Legal
Representative, Chairman, and General Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman,
and general manager
Director
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Tang Shouheng
Yu Guobo
Supervisor
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Yin Hong
He Xindong
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting
non-metal mineral products, machinery equipment, heavy oil; technology
developing, manufacturing and selling building materials and other non-metal
mineral products; international forwarding; technology development, technology
transfer, technology consultation, and technology services.
SC is mainly
engaged in importing and exporting non-metal mineral products, machinery
equipment, building materials, chemical products, etc.
The products
mainly include: Non-Metallic Minerals and Products, GCL, Glass Fiber, FRP,
Friction Materials, Sealing Materials, Electrical Insulation Materials,
Fertilizer and Other Chemical Products, Stone Products, Etc.
SC sources its products 50% from domestic market,
and 50% from overseas market. SC sells 50% of its products in domestic market,
and 50% 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. 81 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have
the following branch and subsidiary,
n
China National Materials Industry Import &
Export Corporation Shenzhen Branch
Address:
P.O.Box 154 Rm 3311, 33/F International Trade Centre, Shenzhen City, Guangdong
Prov., PRC
Post
Code: 518014
Tel:
0086-755-82211524
Fax: 0086-755-82211316
E-mail: cnmc@szonline.net
n
Non-Metals, Inc.
Address:
1870 West Prince Road, Suite 67, Tucson, AZ85705, USA
Tel:
001-520-690-0966
Fax:001-520-690-0396
E-mail: tradefor_AZ@yahoo.com
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:
Agricultural Bank of China
AC#:
050301040015365
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Total assets |
1,742,550 |
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Total
liabilities |
1,632,270 |
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Equities |
110,280 |
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Revenue |
6,643,170 |
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Profits |
7,000 |
Important Ratios
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As
of Dec. 31, 2013 |
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*Liabilities
to assets |
0.94 |
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*Net profit
margin (%) |
0.11 |
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*Return on
total assets (%) |
0.40 |
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*Revenue /
Total assets |
3.81 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
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: AVERAGE
l
SC’s revenue is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC
is considered medium-sized in its line with fairly stable financial conditions.
Taking into consideration of SC’s good background, general performance,
reputation as well as market conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.18 |
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1 |
Rs. 102.55 |
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Euro |
1 |
Rs. 81.77 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
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.