MIRA INFORM REPORT
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Report Date : |
24.12.2014 |
IDENTIFICATION DETAILS
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Name : |
NINGBO SINOBALER MACHINERY CO., LTD. |
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Registered Office : |
Room 1206 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.09.2010 |
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Com. Reg. No.: |
330200400050843 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
· Engaged in Wholesaling Packaging Machinery, Hydraulic Machinery, Crushing Machine, Food Machinery, Printing Machinery, Plastics Machinery, Textile Machinery and Accessories · Engaged in Wholesaling Moulds, Refrigeration Equipment and Machine Parts, Air Compression Equipment, Plastic Machinery, Electric Equipment, and Hardware Fittings; Wholesaling Weighing Equipment, Transport Equipment, Transportation Equipment, Packaging Materials and Packaging Tool · Engaged in importing and Exporting Commodities and Technology; Manufacturing and Processing Packaging Machinery, Hydraulic Machinery, and Grinding Machinery (limited to product by SC’s branches). Subject product
ranges includes: · Lifting · Chamber Baler · Baler · Folding Platform Hand Truck |
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No of Employees : |
12 (Approximately) |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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 |
Since the late 1970s
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Source : CIA |
Company name & address
Ningbo Sinobaler
Machinery Co., Ltd.
room
1206 shanghui mansion, no. 1299 yinxian avenue
shounan
street, yinzhou district, ningbo
zhejiang
province 315192 PR CHINA
TEL: 86
(0) 574-87305555/87300496
FAX: 86
(0) 574-87302337
EXECUTIVE SUMMARY
Date of Registration : september 20, 2010
REGISTRATION NO. : 330200400050843
LEGAL FORM : Wholly foreign-owned enterprise
CHIEF EXECUTIVE : dai chaoyan (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL : cny 500,000
staff : 12 (Approximately)
BUSINESS CATEGORY : trading
Revenue : CNY 10,310,000 (AS OF DEC. 31, 2013)
EQUITIES : CNY 350,000 (AS OF DEC. 31, 2013)
WEBSITE : www.sinobaler.com
E-MAIL : info@sinobaler.com
PAYMENT : Slow but Correct
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.22 = 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
LEGAL STATUS & HISTORY
SC was established as a wholly foreign-owned enterprise of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 330200400050843 on September 20, 2010.
SC’s Organization Code Certificate
No.: 56127885-4
SC’s Tax No.: 330203561278854
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
|
2013-10-29 |
Legal Representative |
Jawad Tazi |
Dai Chaoyan |
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2014-06-18 |
Operating Address |
330 A Zuo Shiji Plaza, No. 14
Hualou Street Haishu District, Ningbo,
Zhejiang Province |
Room 1206 Shanghui Mansion, No.
1299 Yinxian Avenue Shounan Street, Yinzhou
District, Ningbo, Zhejiang Province |
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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Sinospect Industrial Company
Limited (Hong Kong) |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman
and General Manager |
Dai Chaoyan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Sinospect Industrial Company Limited (Hong
Kong) 100
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CR No.: 0911637
Date of Registration: July 14, 2004
Legal Form: Private
Status: Live
MANAGEMENT
Dai
Chaoyan, Legal
Representative, Chairman and General Manager
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Ø
Gender: F
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
BUSINESS OPERATION
SC’s registered business scope includes wholesaling
packaging machinery, hydraulic machinery, crushing machine, food machinery, printing
machinery, plastics machinery, textile machinery and accessories; wholesaling
moulds, refrigeration equipment and machine parts, air compression equipment,
plastic machinery, electric equipment, and hardware fittings; wholesaling
weighing equipment, transport equipment, transportation equipment, packaging
materials and packaging tool; importing and exporting commodities and
technology; manufacturing and processing packaging machinery, hydraulic
machinery, and grinding machinery (limited to product by SC’s branches).
SC is
mainly engaged in selling energy packaging machinery, hydraulic machinery
SC’s products mainly include:
Lifting
Chamber
baler
Baler
Folding
platform hand truck
SC sources its products 100% from domestic
market. SC sells 30% of its products in domestic market, and 70% to overseas
market, mainly U.S.A., Southeast Asia, etc.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major
Clients*
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Advanced
Equipment Sales
Ejeya
Warehouse Corp
Staff & Office:
--------------------------
SC is
known to have approx. 12 staff
at present.
SC rents an area
as its operating office, 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) Slow but Correct ( ) 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
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
|
60 |
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Notes receivable |
0 |
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Accounts
receivable |
30 |
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Advances to
suppliers |
1,450 |
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Other receivable |
340 |
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Inventory |
85 |
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Non-current
assets within one year |
0 |
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Other current
assets |
105 |
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------------------ |
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Current assets |
2,070 |
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Fixed assets |
70 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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Long-term
investment |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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Total assets |
2,140 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
820 |
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Welfares payable |
0 |
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Taxes payable |
0 |
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Advances from
clients |
850 |
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Other payable |
52 |
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Other current
liabilities |
68 |
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Current
liabilities |
1,790 |
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Non-current
liabilities |
0 |
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Total
liabilities |
1,790 |
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Equities |
350 |
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Total
liabilities & equities |
2,140 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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Revenue |
10,310 |
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Cost of sales |
6,900 |
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Sales expense |
790 |
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Management expense |
2,320 |
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Finance expense |
190 |
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Profit before
tax |
178 |
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Less: profit tax |
1 |
|
177 |
Important Ratios
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As of Dec. 31, 2013 |
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*Current ratio |
1.16 |
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*Quick ratio |
1.11 |
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*Liabilities
to assets |
0.84 |
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*Net profit
margin (%) |
1.72 |
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*Return on
total assets (%) |
8.27 |
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*Inventory /
Revenue ×365 |
4 days |
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*Accounts
receivable / Revenue ×365 |
2 days |
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*Revenue /
Total assets |
4.82 |
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*Cost of sales
/ Revenue |
0.67 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC appears average in its line.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears small.
l
The accounts receivable of SC appears small.
l
SC has no short-term loans.
l
SC’s revenue is in an average
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 above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
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UK Pound |
1 |
Rs.98.88 |
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Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
MNL |
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 |
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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.