MIRA INFORM REPORT
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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
Anyang Forging Press Machinery Industry Co., Ltd. |
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Registered Office : |
North Side, West Section Of Changjiang Street, High-Tech
Zone, Anyang City, Henan Province,
455000 PR |
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Country : |
China |
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Date of Incorporation : |
04.03.1997 |
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Com. Reg. No.: |
410500000014883 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in manufacturing and selling forging machinery, castings,
forgings, mechanical and electrical products, pumps, construction equipment |
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No. of Employees |
1,000 |
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 : |
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
Anyang Forging Press Machinery Industry Co., Ltd.
NORTH
SIDE, WEST SECTION OF CHANGJIANG STREET, HIGH-TECH ZONE, anyang city, henan
PROVINCE, 455000 PR CHINA
TEL: 86
(0) 372-5986767/5986768
FAX: 86
(0) 372-5931234
EXECUTIVE
SUMMARY
INCORPORATION DATE : march 4, 1997
REGISTRATION NO. : 410500000014883
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
1,000
REGISTERED CAPITAL : CNY 48,334,000
BUSINESS LINE :
manufacturing & selling
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : moderate amount
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.24 = 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 limited
liabilities company at local Administration for Industry & Commerce (AIC -
The official body of issuing and renewing business license) on March 4, 1997.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited liability
to the extent of shareholding, and the co. is liable for its debts only to
extent of its total assets. The characteristics of this form of co. are as
follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the other
shareholders and to subscribe for the newly increased registered capital of
the co.
SC’s registered
business scope includes manufacturing, installing and selling forging
machinery, castings, forgings, mechanical and electrical products, pumps,
construction equipment, environmental protection equipment parts, electrical
and mechanical product design, technical services and consultation, importing
and exporting goods and technology.
SC is mainly
engaged in manufacturing and selling forging machinery, castings, forgings,
mechanical and electrical products, pumps, construction equipment.
Mr. Liu Fuhai is
the legal representative and chairman of SC at present.
SC is known to
have approx. 1,000 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the high-tech zone of Anyang. Our checks reveal
that SC owns the total premise but the detailed information of the premise is
unspecified.
http://www.ayduanya.com The
design is professional and the content is well organized. At present the web
site is in Chinese and English versions.
E-mail: aydy@ayduanya.com
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the
change |
After the change |
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Unknown |
Registered no. |
4105002003443 |
Present one |
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Registered capital |
CNY 10,680,000 |
CNY 30,120,000 |
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Shareholdings |
Liu Fuhai 52.0% Chen Xian’an 8.5% Ding Hongwei 6.6% Other 5 individuals 32.9% |
Zhou Bin 6.40% Zhang Anhua 6.40% Liu Yubin 6.40% Liu Fuhai 53.56% Ding Hongwei 6.40% Cui Guochen 6.40% Chen Xian’an 8.04% Cao Haijun 6.40% |
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Registered capital |
CNY 30,120,000 |
Present amount |
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Shareholders & shareholdings |
Zhou Bin 6.40% Zhang Anhua 6.40% Liu Yubin 6.40% Liu Fuhai 53.56% Ding Hongwei 6.40% Cui Guochen 6.40% Chen Xian’an 8.04% Cao Haijun 6.40% |
Present ones |
SC has got the certificate ISO9001.
Subject passed the annual
inspection of 2012 with Administration for Industry & Commerce.
Organization Code: 172208924
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount
(CNY ’0000) %
of Shareholding
Liu Fuhai 2,713.9 56.15
Chen Xian’an 285.9 5.92
Zhou Bin 229.2 4.74
Zhang Anhua 229.2 4.74
Cao Haijun 229.2 4.74
Cui Guochen 229.2 4.74
Wang Wei 229.2 4.74
Wang Weidong 229.2 4.74
Liu Yubin 229.2 4.74
Ding Hongwei 229.2 4.74
l Legal
representative and Chairman:
Mr. Liu Fuhai, with Master’s degree, senior engineer, senior economist,
he is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
Also working in Anyang Forging Press Machinery Industry Co., Ltd.
Technology Consulting Services Department as principal.
*Officials:
=======
Name Title
Zhou Bin Director
Cao Haijun Director
Sun Qingguo Director
Ding Hongwei Director
Chen Xian’an Director
Jin Xiwang Supervisor
Gao Shuwen Supervisor
Liu Yubin Supervisor
Zhang Zhong Supervisor
Zhang Anhua Supervisor
Cui Guochen Supervisor
SC is mainly
engaged in manufacturing and selling forging machinery, castings, forgings, mechanical
and electrical products, pumps, construction equipment.
SC’s products
mainly include: CNC hydraulic die forging hammer, pneumatic forging hammer,
series programmable control hydraulic closed-die forging hammer, series hydraulic
forging hammer, series forging manipulator, series ring rolling machines,
series hydraulic briquette press for metal scrap, series hydraulic baling press
for metal scrap, series hydraulic riveting machine, closed type single action
crank press, etc.
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 80% of its products in domestic market, and
20% to overseas market, mainly Southeast Asian market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note:
SC declined to release its major suppliers and clients.
Anyang Forging Press Machinery Industry Co., Ltd. Forging Equipment
Branch
=================================
Registration No.: 410503010008529
Incorporation Date:
Principal: Ding Hongwei
Anyang Forging Press Machinery Industry Co., Ltd. Technology Consulting
Services Department
===================================
Registration No.: 410503010005471
Incorporation Date:
Principal: Liu Fuhai
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 bank details.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 17 years
development history. Taking into consideration of SC’s market conditions and
development history, we would rate SC as an average credit risk company. Credit up to
moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.87 |
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1 |
Rs.100.98 |
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Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
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.