MIRA
INFORM REPORT
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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
BSH HOME APPLIANCES CO., LTD. |
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Registered Office : |
No. 1 Ximenzi Road, Chuzhou, Anhui Province, 239016 PR |
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Country : |
China |
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Date of Incorporation : |
26.12.1995 |
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Com. Reg. No.: |
340000400000380 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in developing, manufacturing and selling household
appliance |
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No. of Employees : |
2,000 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
NOTE
In absence of financials, no credit limit could be recommended.
Company name & address
BSH HOME APPLIANCES CO., LTD.
NO. 1 XIMENZI ROAD, CHUZHOU,
ANHUI PROVINCE, 239016 PR CHINA
TEL: 86 (0) 550-3052731
FAX: 86 (0) 550-3054873
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER 26, 1995
REGISTRATION NO. : 340000400000380
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
CHIEF EXECUTIVE :
MR. zhou XIAOTIAN (CHAIRMAN)
STAFF STRENGTH :
2,000
REGISTERED CAPITAL : USD 117,500,000
BUSINESS LINE :
dveloping, MANUFACTURING, trading
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.0606 = USD 1
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
Note: SC’s complete name should be the heading one.
SC was registered as a wholly foreign-owned enterprise at Anhui
Provincial Administration for Industry & Commerce (AIC - The official body
of issuing and renewing business license) on December 26, 1995.
Company Status: Wholly foreign-owned enterprise (外商独资企业)
This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes developing, manufacturing and
selling household appliances , gas appliances, multimedia appliances (including
embedded audio and video equipment and TV , network appliances ) , including
household / commercial refrigerators and freezers, washing machines, washer,
dryer, sterilizer, wash bowl, air conditioning, stove, small appliances, floor
care products, household intelligent products, electric / gas water heater ,
range hoods , ovens , electric / gas cooker, and machinery and equipment, tools
, molds , raw materials, components, spare parts, components, software and
ancillary electrical products which related to the above products; provide
after-sale service for the above products; research and development of these
products and provide technical advice and technology transfer; engage in import
and export , wholesale and commission agents (excluding auction) business of
these products and related machinery and equipment, tools, molds, raw
materials, spare parts, components, software and supporting electrical
products; engaged in leasing business of its own plant and related machinery
and equipment, tools, molds; provide warehousing services. (with permit if needed)
SC is mainly engaged in developing, manufacturing and selling household
appliance.
Mr. Zhou Xiaotian is legal representative and chairman of SC at present.
SC is known to have approx. 2,000 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Chuzhou.
Detailed premise information is not available at present.
http://www.bsh-group.cn/
The website belongs to Bosch and Siemens Home Appliances Group, and it includes
the introduction about SC and its related companies. The design is professional
and the content is well organized. At present it is in Chinese, English and
German versions.
SC has passed ISO9001, ISO14001, OHSAS18001, CCC, VDE, etc.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Unknown |
Registration No. |
001406 |
340000400000380 |
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Legal representative |
Woerna. Fugede |
Present One |
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Shareholder |
BSH Bosch und Siemens Hausgeräte GmbH (Germany) 100% |
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 705042956
See below for SC as executive party (defendant).
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Executed Party |
BSH Home Appliances Co., Ltd. |
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Court |
Chuzhou Langya District People's Court |
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Date of Case |
May 12, 2011 |
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Case Number |
(2011) 00350 |
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Claim Amount |
RMB 0 |
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Case Status |
Completed |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN SHAREHOLDERS:
Name %
of Shareholding
BSH Home Appliances Holding (China) Co., Ltd. 100
Registration no.: 320000400004369
Registered capital: USD 262,536,000
Legal representative: Roland Gerke
Add:
Tel: +86 (25) 84701918
Fax: +86 (25) 84705828
Email: yao.wang@bshg.com
Legal representative and chairman:
Mr. Zhou Xiaotian is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working
in SC as chairman and legal representative.
Directors:
Roland Gerke
Bernhard Weber
Aydin kuzalti
Ralf-Juergen Striek
Thomas Koch
Supervisor:
Barbara Pfaffenbauer
SC is mainly engaged in developing, manufacturing and selling household
appliance.
Main Products: refrigerator, sterilizing cabinet, dishwasher, air
conditioner, cookware
SC sources its materials 80% from domestic market and 20% from the
overseas markets mainly Europe. SC sells 70% of its products in domestic market
and 30% to the overseas markets, mainly Europe.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC’s management refused to release its main suppliers and clients.
According to http://www.bsh-group.cn/
BSW Household Appliances Co., Ltd.
========================
Registration no.: 320200400005987
Registered capital: USD 29,275,000
Legal representative: Ritz Daegal
Add: No. 3, Wangzhuang Road, 214028 Wuxi, Jiangsu Province
Tel: 0086 510 8521 8888
Fax: 0086 510 8521 5169
BSH Electrical Appliances (Jiangsu) Co., Ltd.
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Registration no.: 320000400000358
Registered capital: USD 63,000,000
Legal representative: Thomas Koch
Add: No.208 Yaoxin Road, Nanjing
210046, Jiangsu Province
Tel.: +86 (25) 88021369
Overall payment appraisal : ( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet 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.
Bank of China Chuzhou Branch
AC#：N/A
Relationship: Normal.
SC’s management declined to release any financial information.
SC is considered large-sized in its line with 19 years operation
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.95 |
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1 |
Rs.104.02 |
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Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.