MIRA
INFORM REPORT
|
Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUZHOU JWELL MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.06.2008 |
|
|
|
|
Com. Reg. No.: |
320585000095149 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Manufacturing, processing, and selling plastic machinery, chemical
machinery, electrical machinery, fitness equipment, packaging machinery,
chemical processing equipment, and large-scale precision mold; sales of
meters & instruments, and components; importing and exporting commodities
and technology. |
|
|
|
|
No of Employees : |
157 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Since the late 1970s
|
Source
: CIA |
COMPANY NAME & ADDRESS
SUZHOU JWELL
MACHINERY CO., LTD.
NO.
TEL: 86 (0) 512-53377177/53129009
FAX: 86 (0) 512-69591799
EXECUTIVE SUMMARY
Date of Registration :
june 25, 2008
REGISTRATION NO. :
320585000095149
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 10,000,000
staff : 157
BUSINESS CATEGORY : manufacturing & TRADING
Revenue :
CNY 142,590,000 (FROM JAN. 1, 2013 TO JUN. 30,
2013)
EQUITIES :
CNY 61,320,000 (AS OF JUN. 30, 2013)
WEBSITE : www.szjwell.cn
E-MAIL :
salbn@jwell.cn
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.15 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company (the company inquired by
you)
N/A – Not available
CNY –
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.: 320585000095149 on June 25, 2008.
SC’s Organization Code Certificate No.:
67704051-4
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2012 |
Legal Representative |
CNY 1,350,000 |
CNY 35,000,000 |
|
2013-8-21 |
Shareholder (s) (% of Shareholding) |
He Haibo 25.93% He Haichao 74.07% |
He Haibo 25.92% He Haichao 37.04% He Qiong 37.04% |
|
2014-07-19 |
Registered Capital |
CNY 35,000,000 |
CNY 10,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
He Haibo |
25.92 |
|
He Haichao |
37.04 |
|
He Qiong |
37.04 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
He Haichao |
|
Supervisor |
Liang Ruizhi |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
He Haibo (ID# 440112196302190357) 25.92
He Haichao 37.04
He Qiong 37.04
MANAGEMENT
He Haichao, Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 330901196505080018
Ø
Age: 49
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Also
working in Shanghai Jwell Machinery Co., Ltd. and Suzhou Jwell Precision
Machinery Co., Ltd. as legal representative
Liang Ruizhi,
Supervisor
--------------------------------------------
Ø
Gender: F
Ø
ID# 320302196504283229
Ø
Age: 49
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes manufacturing, processing, and
selling plastic machinery, chemical machinery, electrical machinery, fitness
equipment, packaging machinery, chemical processing equipment, and large-scale
precision mold; sales of meters & instruments, and components; importing
and exporting commodities and technology.
SC is mainly
engaged in manufacturing and selling plastic machinery.
SC’s products mainly include:
HDPE/PP/PVC Double Wall Corrugated Pipe and
Ribbed Pipe Extrusion Line
Large Diameter HDPE Water Supply and Gas
Supply Pipe Extrusion Line
HDPE Water Supply and Gas Supply Pipe
Extrusion Line
High Pressure RTP Twisted Composite Pipe
Extrusion Line
PPR \ PE-RT \ PEX Small Diameter Pipe
Extrusion Line
Etc.
& 
are famous brands in
SC sources its
materials 100% from domestic market. SC sells 60% of its products in domestic
market, and 40% to overseas market, mainly Russia, India, Korea, Indonesia,
Middle East, Africa and south America, Spain, Italy, etc.
The buying terms of SC include Check, T/T 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. 157 staff at
present.
SC rents an area
as its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
Shanghai Jwell Machinery Co., Ltd.
Registration No.: 310000400510544
Legal Representative: He Haichao
Registered Capital: USD 300,000
Date of Registration: April 16, 2007
Web: www.extrusion.cn
Shanghai Jwell Chemical Fiber Machinery Co., Ltd.
Registration No.: 310114000672413
Legal Representative: Chen Jianlong
Registered Capital: CNY 3,150,000
Date of Registration: January 24, 2003
Shanghai Jwell Extrusion Machinery Co., Ltd.
Registration No.: 310114000673248
Legal Representative: Xu Guofu
Registered Capital: CNY 1,000,000
Date of Registration: January 28, 2003
Suzhou Jwell Precision Machinery Co., Ltd.
Date of Registration: December 19, 2006
Registration No.: 320585400005381
Legal Form: Wholly Foreign-Owned
Legal Representative: He Haichao
Registered Capital: USD 33,000,000
Web: www.szjwell.com
Shanghai Jwell Pipe Equipment Co., Ltd.
Date of Registration: April 23, 2004
Registration No.: 310114000942438
Legal Representative: Miao Zhiqing
Registered Capital: CNY 2,700,000
Shanghai Jwell Plate& Sheet Equipment Co., Ltd.
Date of Registration: January 28, 2003
Registration No.: 310114000673256
Legal Representative: Wang Tao
Registered Capital: CNY 1,000,000
Zhoushan Jwell Screw & Barrel Co., Ltd.
Date of Registration: 330902000061567
Registration No.: April 17, 2001
Legal Representative: Gu Aiping
Registered Capital: CNY 1,200,000
Etc.
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
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
|
28,690 |
78,230 |
|
|
Accounts
receivable |
17,480 |
23,820 |
|
Advances to
suppliers |
0 |
0 |
|
Other receivable |
590 |
180 |
|
Inventory |
91,120 |
102,000 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
13,800 |
12,330 |
|
|
------------------ |
------------------ |
|
Current assets |
151,680 |
216,560 |
|
Fixed assets |
34,880 |
37,660 |
|
Construction in
progress |
2,030 |
0 |
|
Intangible
assets |
0 |
0 |
|
Long-term
investment |
0 |
0 |
|
Deferred income tax
assets |
0 |
0 |
|
Other
non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
188,590 |
254,220 |
|
|
============= |
============= |
|
Short-term loans |
0 |
0 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
115,550 |
133,490 |
|
Taxes payable |
0 |
0 |
|
Advances from
clients |
48,630 |
65,210 |
|
Other payable |
730 |
1,340 |
|
Accrued expenses |
0 |
0 |
|
Other current
liabilities |
-3,200 |
-900 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
161,710 |
199,140 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
161,710 |
199,140 |
|
Equities |
26,880 |
55,080 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
188,590 |
254,220 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
|
Revenue |
341,820 |
307,360 |
|
Cost of sales |
296,510 |
255,960 |
|
Sales expense |
12,990 |
14,320 |
|
Management expense |
18,660 |
21,300 |
|
Finance expense |
550 |
140 |
|
Profit before
tax |
18,760 |
22,550 |
|
Less: profit tax |
2,810 |
3,380 |
|
15,950 |
19,170 |
Financial Summary
|
Unit: CNY’000 |
As
of Jun. 30, 2013 |
|
Total assets |
271,240 |
|
|
------------- |
|
Total
liabilities |
209,920 |
|
Equities |
61,320 |
|
|
From
Jan. 1, 2013 to Jun. 30, 2013 |
|
Revenue |
142,590 |
|
Profits |
6,240 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
As
of Jun. 30, 2013 |
|
*Current ratio |
0.94 |
1.09 |
-- |
|
*Quick ratio |
0.37 |
0.58 |
-- |
|
*Liabilities
to assets |
0.86 |
0.78 |
0.77 |
|
*Net profit
margin (%) |
4.67 |
6.24 |
4.38 |
|
*Return on total
assets (%) |
8.46 |
7.54 |
2.30 |
|
*Inventory /
Revenue ×365 |
98 days |
122 days |
-- |
|
*Accounts
receivable / Revenue ×365 |
19 days |
29 days |
-- |
|
*Revenue /
Total assets |
1.81 |
1.21 |
0.53 |
|
*Cost of sales
/ Revenue |
0.87 |
0.83 |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly good.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level in 2012.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears large.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loans.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
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.60.47 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.