MIRA
INFORM REPORT
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Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN AOSIBO CERAMIC TECHNOLOGY CO., LTD. |
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Formerly Known As : |
FOSHAN KEXINDA AOSIBO CERAMIC TECHNOLOGY
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 : |
09.05.2003 |
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Com. Reg. No.: |
440602000131674 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is
mainly engaged in manufacturing and selling ceramic products. |
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No of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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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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 |
Since the late 1970s
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Source
: CIA |
COMPANY NAME
& ADDRESS
FOSHAN AOSIBO CERAMIC TECHNOLOGY CO., LTD.
NO.
TEL: 86 (0) 757-83816088/83872737/83872716
FAX: 86 (0) 757-83872733/83839935
EXECUTIVE SUMMARY
Date of Registration : MAY 9, 2003
REGISTRATION NO. : 440602000131674
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 500,000
staff :
70
BUSINESS CATEGORY : MANUFACTURING
& TRADING
Revenue :
CNY 11,191,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY -8,440,000 (AS OF DEC. 31, 2013)
WEBSITE : www.foshanaosibo.com
E-MAIL :
sales@foshanaosibo.com
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : poor
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
CNY 6.15 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company (the company inquired by
you)
N/A – Not available
CNY –
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.: 440602000131674
on May 9, 2003.
SC’s Organization Code Certificate No.:
74997368-0
SC’s Tax No.: 440604749973680
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2014-5-6 |
Company Name |
Foshan Kexinda Aosibo Ceramic Technology
Co., Ltd. |
Foshan Aosibo Ceramic Technology Co., Ltd |
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Registration No. |
4406001011635 |
440602000131674 |
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|
Legal Representative |
Huo Jinrong |
Huang Guoqiang |
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Shareholder (s) (% of Shareholding) |
Guangdong Kexinda Technology Co., Ltd. Huo Jinrong 16% Huang Yibo 13% Huang Guoqiang 4% Li Xianggang 3% He Yongbiao 3% |
He Yongbiao 3% Huo Jinrong 5% Huang Guoquan 10% Li Xianggang 26% Luo Xiaomu 26% Huang Guoqiang 30% |
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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Huang Guoqiang |
30 |
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Luo Xiaomu |
26 |
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Li Xianggang |
26 |
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Huang Guoquan |
10 |
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Huo Jinrong |
5 |
|
He Yongbiao |
3 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Huang Guoqiang |
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Director |
Li Xianggang |
|
Luo Xiaomu |
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Supervisor |
Huang Guoquan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Huang Guoqiang 30
Luo Xiaomu 26
Li Xianggang 26
Huang Guoquan 10
Huo Jinrong 5
He Yongbiao 3
MANAGEMENT
Huang Guoqiang, Legal Representative, Chairman and General
Manager
-----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From May
of 2014 to present, working in SC as legal representative, chairman and general
manager, also working in Foshan Yilong Economic & Trade Co., Ltd. as legal
representative
Director
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Li Xianggang
Luo Xiaomu
Supervisor
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Huang Guoquan
BUSINESS OPERATION
SC’s registered business scope includes researching, developing,
consulting, providing services and technology transfer computer software,
mechanical and electrical products, ceramic products and related technique of
manufacture; selling mechanical equipment and components, electric appliances
and components, computer hardware, ceramics, abrasive tools, ceramic materials
and chemical materials (excluding dangerous articles); designing, manufacturing
and selling mechanical equipment; producing and selling titanate ceramics and
ceramic pigments; importing and exporting commodities and
technologies, excluding export commodities limited or
prohibited by the state.
SC is mainly
engaged in manufacturing and selling ceramic products.
Brand: ASB
SC’s products
mainly include: ceramic products.
SC sources its materials 90% from domestic market and 10% from the overseas market. SC sells 20% of its products to overseas market and 80% in domestic 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.
*Major Customers:
==============
Ceradyne Inc.
Asian Granito
India Ltd.
Staff & Office:
--------------------------
SC is known
to have approx. 70 staff at
present.
SC rents an area
as its operating office & factory of approx. 5,000 sq. meters at the
heading address.
RELATED COMPANY
n
Foshan Aosibo Machinery Co., Ltd.
n
Foshan Yilong Economic & Trade Co., Ltd.
SC is known to have 3
branches at present,
n
Foshan Aosibo Ceramic Technology Co., Ltd. Machinery Branch
n
Foshan Aosibo Ceramic Technology Co., Ltd. Zhangcha Branch
n
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:
Bank of
AC#:
888626048108093001
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
|
756 |
181 |
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Notes receivable |
0 |
0 |
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Accounts
receivable |
10,690 |
1,010 |
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Advances to suppliers |
7,363 |
0 |
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Other receivable |
-1,354 |
2,550 |
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Inventory |
8,894 |
1,691 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
49 |
0 |
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|
------------------ |
------------------ |
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Current assets |
26,398 |
5,432 |
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Long-term
investment |
525 |
712 |
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Fixed assets |
508 |
202 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
27,431 |
6,346 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
20,668 |
9,303 |
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Wages payable |
100 |
35 |
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Taxes payable |
108 |
85 |
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Advances from
clients |
9,549 |
194 |
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Other payable |
-1,022 |
5,169 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
29,403 |
14,786 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
29,403 |
14,786 |
|
Equities |
-1,972 |
-8,440 |
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------------------ |
------------------ |
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Total
liabilities & equities |
27,431 |
6,346 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
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Revenue |
14,240 |
11,191 |
|
Cost of sales |
12,045 |
9,625 |
|
Taxes and surcharges |
34 |
45 |
|
Sales expense |
1,289 |
861 |
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Management expense |
945 |
714 |
|
Finance expense |
-2 |
1 |
|
Profit before
tax |
-71 |
52 |
|
Less: profit tax |
0 |
0 |
|
-71 |
52 |
Important Ratios
=============
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As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
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*Current ratio |
0.90 |
0.37 |
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*Quick ratio |
0.60 |
0.25 |
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*Liabilities
to assets |
1.07 |
2.33 |
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*Net profit
margin (%) |
-0.50 |
0.46 |
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*Return on
total assets (%) |
-0.26 |
0.82 |
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*Inventory /
Revenue ×365 |
228 days |
56 days |
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*Accounts
receivable/ Revenue ×365 |
275 days |
33 days |
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*Revenue/Total
assets |
0.52 |
1.76 |
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*Cost of sales
/ Revenue |
0.85 |
0.86 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in its line.
l
SC’s net profit margin is average in 2013.
l
SC’s return on total assets is average in 2013.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a poor
level.
l
SC’s quick ratio is maintained in a poor level.
l
The inventory of SC is maintained in an average
level in 2013.
l
The accounts receivable of SC is maintained in an
average level in 2013.
l
SC has no short-term loans in both years.
l
SC’s revenue is in an average level in 2013,
comparing with the size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is fairly high.
Overall financial
condition of the SC: Poor.
CONCLUSIONS
SC is considered small-sized in its line with poor financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SMN |
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.