MIRA INFORM REPORT
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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG STRONG METAL TECHNOLOGY CO., LTD. |
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Registered Office : |
No. 30 Shizhou Industry Zone, Chencun Town, Shunde District Foshan,
Guangdong Province 528313 Pr |
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Country : |
China |
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Date of Incorporation : |
06.03.2000 |
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Com. Reg. No.: |
440681000119869 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
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No. of Employees |
306 |
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 – March 31st, 2014
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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, 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
GUANGDONG STRONG METAL TECHNOLOGY
CO., LTD.
NO. 30 SHIZHOU INDUSTRY ZONE, CHENCUN TOWN, SHUNDE DISTRICT FOSHAN,
GUANGDONG PROVINCE 528313 PR CHINA
TEL: 86 (0) 757-23322638/23311093
FAX: 86 (0) 757-23322619/23319228
EXECUTIVE
SUMMARY
Date of Registration : MARCH 6, 2000
REGISTRATION NO. : 440681000119869
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
LU HANMING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 20,000,000
staff :
306
BUSINESS CATEGORY : processing & manufacturing & trading
Revenue :
N/A (AS
OF DEC. 31, 2012)
EQUITIES :
N/A (AS
OF DEC. 31, 2012)
WEBSITE : www.strongmetal.cn
E-MAIL :
furnace@strongmetal.com.cn
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.23 = 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 a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
440681000119869 on March 6, 2000.
SC’s Organization Code Certificate No.:
72244413-X
SC’s Tax No.: 44068172244413X
SC’s registered capital: cny 20,000,000
SC’s paid-in capital: cny 20,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2001-12 |
Legal Representative |
Lu Ruming |
Lu Hanming |
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2003-03 |
Company Name |
Shunde Strong Metal Technology Co., Ltd. |
Foshan Shunde Strong Metal Technology Co.,
Ltd. |
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2005-05 |
Company Name |
Foshan Shunde Strong Metal Technology Co.,
Ltd. |
Guangdong Strong Metal Technology Co., Ltd. |
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2008-11 |
Registered Capital |
CNY 3,000,000 |
CNY 7,700,000 |
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Registration No. |
4406812005489 |
440681000119869 |
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Shareholder (s) (% of Shareholding) |
Lu Weiming 20% Lu Hanming
20% Guan Yongxiang 10% Su Yuhui 20% Dong Xiaohong 20% Guan Yongfa 10% |
Lu Weiming 16% Wang Guimao 5% Lu Hanming 18% Su Yuhui 16% Guan Yongxiang 8.5% Chen Zhiqiang 5% Dong Xiaohong 16% Guan Yongfa
8.5% Liang Hang
7% |
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|
-- |
Registered Capital |
CNY 7,700,000 |
cny 20,000,000 |
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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Lu Weiming |
16 |
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Wang Guimao |
5 |
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Lu Hanming |
18 |
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Su Yuhui |
16 |
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Guan Yongxiang |
8.5 |
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Chen Zhiqiang |
5 |
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Dong Xiaohong |
16 |
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Guan Yongfa |
8.5 |
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Liang Hang |
7 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Lu Hanming |
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General Manager |
Dong Xiaohong |
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Director |
Guan Yongfa |
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Su Yuhui |
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Supervisor |
Lu Weiming |
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Chen Zhiqiang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Lu Weiming 16
Wang Guimao 5
Lu Hanming 18
Su Yuhui 16
Guan Yongxiang 8.5
Chen Zhiqiang 5
Dong Xiaohong 16
Guan Yongfa 8.5
Liang Hang 7
MANAGEMENT
Lu Hanming, Legal Representative and Chairman
----------------------------------------------------------------------------
Gender: M
ID# 440623195710142313
Age: 57
Working experience
(s):
At present, working in SC as legal representative and chairman
Dong Xiaohong, General Manager
--------------------------------------------------------
Gender: M
ID# 440106196411162112
Age: 50
Working experience
(s):
At present, working in SC as general manager
Director
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Guan Yongfa
Su Yuhui
Supervisor
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Lu Weiming
Chen Zhiqiang
BUSINESS OPERATION
SC’s registered business scope includes researching, developing,
manufacturing and selling metal materials, metal tools, mould, optical,
mechanical and electronic integration products and supplying technology
services (excluding the products privileged, prohibited or franchised); metal
heat treatment process; manufacturing heat treatment equipment and parts;
processing welding & vacuum coating, manufacturing related equipment and
materials; manufacturing industrial electric stove and parts; exporting self
made products and importing machines, components and raw materials required in
manufacturing, excluding the items prohibited by the state.
Main Business: heat treatment processing; manufacturing heat treatment
equipment; surface engineering technology and special mould development, etc.
SC sources its materials 90% from domestic market, and 10% from overseas
market. SC sells 80% of its products in domestic market, and 20% 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. 306
staff at present.
SC rents an area as its operating office and factory, 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) 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
The bank information of SC is not filed in local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 14 years business
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.28 |
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UK Pound |
1 |
Rs.102.77 |
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Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
SDA |
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.