MIRA INFORM REPORT
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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
Ficont Industry (Beijing) Inc. |
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Registered Office : |
No. 6 Baifuyuan Industry Zone, Songzhuang, Tongzhou District Beijing 101118 Pr |
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Country : |
China |
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Date of Incorporation : |
21.07.2005 |
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Com. Reg. No.: |
110105008656146 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Mainly Engaged in Manufacturing and Selling Suspension
Equipment, Tower Lifts, Climb Assist, Ladders and Fall Arrest System |
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No. of Employees : |
160 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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.
|
Source
: CIA |
sc’s
INFO
Ficont Industry (Beijing) Inc.
No. 6 baifuyuan industry zone, songzhuang,
tongzhou district
Beijing 101118 PR
China
TEL: 86 (0) 10-69598935/67707169/69597866/69597656
FAX: 86 (0) 10-69598969
EXECUTIVE
SUMMARY
Date of Registration : july 21, 2005
REGISTRATION NO. : 110105008656146
LEGAL FORM : shares limited company
CHIEF EXECUTIVE : liu zhixin (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 30,000,000
staff : 160
BUSINESS CATEGORY : MANUFACTURING & TRADING
REVENUE :
CNY 27,965,000 (JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 71,267,000 (AS OF JUN. 30, 2014)
WEBSITE : www.3slift.com
E-MAIL :
sales@3slift.com
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.13 = USD 1
This rating serves as a reference to assess SC’s credit risk and to set
the amount of credit to be extended. It is.
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 on July 21, 2005. However, SC changed to
present legal form, and was registered as shares limited company of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.: 110105008656146 on July 9, 2014.
SC’s Organization Code Certificate No.:
77864147-4
%20INC%20%20-%20290066%2016-Oct-2014_files/image010.jpg)
SC’s Tax No.: 110112778641474
SC’s registered capital: CNY
30,000,000
SC’s paid-in capital: CNY
30,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2008-6-24 |
Registered Capital |
CNY 1,000,000 |
CNY 7,900,000 |
|
2011-4-27 |
Registered Capital |
CNY 7,900,000 |
CNY 12,000,000 |
|
2012-7-26 |
Legal Representative |
Liu Xiang |
Liu Zhixin |
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Registered Capital |
CNY 12,000,000 |
CNY 13,333,333 |
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2014-7-9 |
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Registered Capital |
CNY 13,333,333 |
CNY 30,000,000 |
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Legal Form |
Limited Liabilities Company |
Shares Limited Company |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shichuang (Beijing) Technology
Development Co., Ltd. |
60.19 |
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Tianjin Bangsheng Equity Investment Fund Partnership (Limited
Partnership) |
8.89 |
|
Ma Dongsheng |
4 |
|
Wang Xijun |
4 |
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Liu Zhixin |
22.92 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Liu Zhixin |
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Director |
Wang Xijun |
|
Yang Xu |
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Gu Yu |
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Ma Dongsheng |
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Supervisor |
Liu Yafeng |
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Zhang Jinbo |
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|
Wang Xiaoyin |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Shichuang (Beijing) Technology Development Co., Ltd. 60.19
Tianjin Bangsheng Equity Investment Fund Partnership
(Limited Partnership) 8.89
Ma Dongsheng 4
Wang Xijun 4
Liu Zhixin 22.92
Shichuang (Beijing) Technology Development Co., Ltd.
===========================================
Registration No.: 110112017050714
Chief Executive: Liu Zhixin
Registered Capital: CNY 9,000,000
Tianjin Bangsheng Equity Investment Fund Partnership
(Limited Partnership)
===========================================================
Date of Registration: June 6, 2011
Registration No.: 120191000086943
Legal Form: Limited Partnership
MANAGEMENT
Liu
Zhixin , Legal
Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------
%20INC%20%20-%20290066%2016-Oct-2014_files/image011.jpg){kind=small}
Gender: M
Qualification: University
Working experience (s):
From 2012 to present, working in SC as legal representative, chairman and
general manager, also working in Shichuang (Beijing)
Technology Development Co., Ltd. as legal representative, and as principal of Ficont Industry (Beijing) Inc. Technology
Service Branch
Director
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Wang Xijun
Yang Xu
Gu Yu
Ma Dongsheng
Supervisor
--------------
Liu Yafeng
Zhang Jinbo
Wang Xiaoyin
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing
suspension equipment, tower lifts, climb assist, ladders and fall arrest system;
general cargo, technology promotion; importing and exporting goods and
technology, import and export agent; selling machinery and equipment, building
materials, metal materials, stationery, electronic products; leasing and
maintenance of construction machinery and equipment.
SC is mainly engaged
in manufacturing and selling suspension equipment, tower lifts, climb assist,
ladders and fall arrest system.
Brand: 3S Lift
SC’s products mainly include: service lift, climbing aid
system, aluminum ladder, fall protection system, auto descending device, etc.
%20INC%20%20-%20290066%2016-Oct-2014_files/image012.jpg)
SC sources its materials 100% from domestic market, mainly Beijing. SC sells 40% of its products in domestic market, and 60% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
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.
*Major Customer:
=============
Matakana Staging & Seating Inc.
Staff
& Office:
--------------------------
SC is known to have approx. 160 staff at present.
SC owns an area as its operating office & factory of approx. 20,000
sq. meters at the heading address.
RELATED
COMPANY
SC is known to
have a branch at present,
Ficont Industry (Beijing) Inc. Technology Service Branch
----------------------------------------------------------------------
Date of Registration: November 21, 2008
Registration No.: 110112011477692
Legal Form: Branch
Principal: Liu Zhixin
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 SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Jun. 30, 2014 |
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Total assets |
93,548 |
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Total liabilities |
22,281 |
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Equities |
71,267 |
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Unit: CNY’000 |
Jan.
1, 2014 to Jun. 30, 2014 |
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Revenue |
27,965 |
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Profits |
4,863 |
Important Ratios
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As
of Jun. 30, 2014 |
|
*Liabilities to assets |
0.24 |
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*Net profit margin (%) |
17.39 |
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*Return on total assets (%) |
5.20 |
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* Revenue/Total assets |
0.30 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears
average in its line.
SC’s net profit margin is fairly good.
SC’s return on total assets is average.
LIQUIDITY:
FAIR
SC’s revenue is in a fair
level, comparing with the size of its total assets.
LEVERAGE:
FAIRLY GOOD
The debt ratio of SC is low.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
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UK Pound |
1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
SHG |
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.