MIRA
INFORM REPORT
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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
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Name : |
AUTEFA SOLUTIONS WUXI CO., LTD. |
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Registered Office : |
No. 5, Zhangshe Road, Hudai Industry Park, Binhu District, Wuxi City, Jiangsu Province, 214161 PR |
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Country : |
China |
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Date of Incorporation : |
22.03.2013 |
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Com. Reg. No.: |
320200400037527 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in production, installation, debugging, sales of
nonwoven machinery, textile special equipment and accessories. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 and address
AUTEFA SOLUTIONS
WUXI CO., LTD.
No. 5, Zhangshe Road, Hudai Industry Park, Binhu
District, Wuxi City, Jiangsu province, 214161 PR CHINA
TEL: 86 (0) 510-85586579
FAX: 86 (0) 510-85586579
EXECUTIVE SUMMARY
INCORPORATION DATE : march 22, 2013
REGISTRATION NO. : 320200400037527
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
ENTERPRISE
chief executive :
Mr. STEFAN FRIEDRICH DR SCHLICHTER (CHAIRMAN)
STAFF STRENGTH :
20
REGISTERED CAPITAL : eur 700,000
BUSINESS LINE :
production, installation, debugging
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.2192 = 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
SC was registered as a wholly foreign-owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on March 22, 2013.
Company Status: Wholly foreign-owned
enterprise 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 research and development of
nonwoven machinery; design, development, production, installation, commissioning,
maintenance, technical services, technology transfer of textile special
equipment and accessories, power distribution switch control equipment;
development, technical services of computer software; textile engineering
design services; machinery engineering design services.
SC is mainly engaged in production, installation, debugging, sales of
nonwoven machinery, textile special equipment and accessories.
Mr. Stefan Friedrich Dr Schlichter is legal representative and chairman
of SC at present.
SC is known to have approx. 20 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 Wuxi.
Detailed premise information is not available at present.
The other address: Room 801, Wanda Plaza, No. 51 Liangxi Road, Binhu
District, Wuxi City, Jiangsu Province
Tel: +86 510 82855222
Fax: +86 510 85876111
http://www.autefa.com/
The website belongs to Autefa Solutions. The design is professional and the
content is well organized. At present it is in E version.
E-mail: sales.china@autefa.com
SC started its normal operation in February of 2014.
No significant changes were found during our checks with the local AIC.
Organization Code: 061806438
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Hi-Tech Textile Holding GmbH (Germany) 100
Legal
representative and chairman:
Mr. Stefan Friedrich Dr Schlichter is currently responsible for the
overall management of SC.
Working
Experience(s):
At present
Working in SC as legal representative and chairman.
Directors:
Zhang Jinyang
Zhu Weizhong
Binnig Joachim Adolf
Ju Haibin
Supervisor:
Christian Bgger
SC started its normal operation in February of 2014.
SC is mainly engaged in production, installation, debugging, sales of
nonwoven machinery, textile special equipment and accessories.
SC’s products mainly include: nonwoven machinery, textile special
equipment and accessories
SC sources its materials 40% from domestic market, and 60% 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.
Note: SC refused
to release its major clients and suppliers.
According to the above website:
Autefa Solutions Germany GmbH
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Paul-Lenz-Str. 1
86316 Friedberg . Germany
T: +49 821 2608 0
F: +49 821 2608 299
Autefa Solutions Austria GmbH
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Wegscheider Str. 15
4021 Linz . Austria
T: +43 732 3739 0
F: +43 732 381674
Autefa Solutions Italy S.P.A.
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Str. Campagne, 16
1390 Biella . Italy
T: +39 015 8484111
F: +39 015 8484133
Autefa Solutions Switzerland AG
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Kreuzlingerstrasse 5
8574 Lengwil
T: +41 71 686 00 00
F: +41 71 686 00 01
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.
SC declined to release its banking details.
Established in March of 2013, and started its normal operation in
February of 2014, SC’s financial information is not available at present.
SC was established in March of 2013, and started its normal operation in
February of 2014.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.33 |
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1 |
Rs.99.68 |
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Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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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 |
-- |
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.