MIRA
INFORM REPORT
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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BAOSTEEL ROLL SCIENCE AND TECHNOLOGY CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
22.03.1994 |
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Com. Reg. No.: |
320400000003124 |
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Legal Form : |
One-person Limited Liability Company |
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Line of Business : |
Subject
includes technology development, transfer, trade, consulting and
services of metallurgy and machinery products, manufacturing metal mill roll,
mandrel, rollers, metallurgical machinery equipment and spare parts,
operating and acting as an agent of importing and exporting various kinds of
commodities and technology. |
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No. of Employees |
679 |
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
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Source
: CIA |
Company name and address
BAOSTEEL ROLL SCIENCE
AND TECHNOLOGY CO., LTD.
NO. 41 XINYE ROAD, CHANGZHOU, JIANGSU PROVINCE 213019 PR CHINA
TEL: 86 (0) 519-83258560/83258254
FAX: 86 (0) 519-83258560
EXECUTIVE SUMMARY
DATE OF REGISTRATION : MARCH 22, 1994
REGISTRATION NO. : 320400000003124
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : GUAN YAOHUA (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 577,977,200
STAFF : 679
BUSINESS CATEGORY : MANUFACTURING & TRADING
REVENUE : CNY 344,965,000 (JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES : CNY 587,545,000 (AS OF JUN. 30, 2014)
WEBSITE : www.czroll.com
E-MAIL : roll@czroll.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : 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 – 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 state-owned enterprise of PRC on March 22, 1994. However, SC changed to present legal form, and was registered as one-person limited liabilities company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 320400000003124 in 2013.
SC’s Organization Code Certificate No.: 25083563-3
SC’s Tax No.: 320400250835633
SC’s registered capital: CNY 577,977,200
SC’s paid-in capital: CNY 577,977,200
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2013 |
Legal Form |
State-Owned Enterprise |
One-Person Limited Liabilities Company |
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Company Name |
Baosteel Group Changzhou Roll Manufacture Company |
Baosteel Roll Science And Technology Co., Ltd. |
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-- |
Legal Representative |
Jiang Weimin |
Guan Yaohua |
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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Baosteel Engineering Technology Group Co., Ltd. |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Guan Yaohua |
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Supervisor |
Bi Qiang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name % of Shareholding
Baosteel Engineering Technology Group Co., Ltd. 100
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Date of Registration: May 19, 1997
Registration No.: 310113000188633
Legal Form: One-Person Limited Liability Company
Chief Executive: Jiang Weimin
Registered Capital: CNY 2,820,420,000
Web: www.baosteelengineering.com
MANAGEMENT
Guan Yaohua Legal Representative, Chairman and General Manager
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Gender: M
Age: 51
ID# 3320404196311100818
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general manager
Bi Qiang Supervisor
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Gender: M
Age: 35
ID# 340104197902251556
BUSINESS OPERATION
SC’s registered business scope includes technology development, transfer, trade, consulting and services of metallurgy and machinery products, manufacturing metal mill roll, mandrel, rollers, metallurgical machinery equipment and spare parts, operating and acting as an agent of importing and exporting various kinds of commodities and technology, excluding the goods forbidden by the government.
SC is mainly engaged in manufacturing and selling metal mill roll, mandrel, rollers, metallurgical machinery equipment and spare parts
SC’s products mainly
include:
Cold Rolling Mill Work Roll
Cold Rolling Mill Intermediate Roll
Back-up Roll
Sendzimir and Cluster Mill Roll
Retained Mandrel
Aluminum Mill Roll
Etc.
SC sources its materials 100% from domestic market, mainly Shanghai and Jiangsu. SC sells 80% of its products in domestic market, and 20% to overseas market, mainly U.S.A., 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.
Staff & Office:
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SC is known to have approx. 679 staff at present.
SC owns an area as its operating office & factory of approx. 100,000 sq. meters at the heading address.
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
Basic Bank
Industrial and Commercial Bank of China Changzhou
Branch
AC#:
1105020109000002556
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Jun. 30, 2014 |
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Total assets |
1,284,641 |
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Total liabilities |
697,096 |
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Equities |
587,545 |
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Unit: CNY’000 |
Jan. 1, 2014 to Jun. 30, 2014 |
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Revenue |
344,965 |
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Profits |
7,687 |
Important Ratios
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As of Jun. 30, 2014 |
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*Liabilities to assets |
0.54 |
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*Net profit margin (%) |
2.22 |
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*Return on total assets (%) |
0.60 |
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* Revenue/Total assets |
0.27 |
FINANCIAL COMMENTS
PROFITABILITY: AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
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 average.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial conditions. Taking into consideration of SC’s good background, general performance, reputation as well as market conditions
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.61 |
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1 |
Rs.100.48 |
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Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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.