MIRA INFORM REPORT
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Report No. : |
319269 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
YUEYANG DALISHEN ELECTROMAGNETIC MACHINERY CO., LTD. |
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Registered Office : |
No. 19, Eco Industrial Park, Rongxin Road, Chengguan Town, Yueyang County, Yueyang City, Hunan
Province, 414100 Pr |
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Country : |
China |
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Date of Incorporation : |
25.03.2002 |
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Com. Reg. No.: |
430621000001970 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in manufacturing and selling electromagnetic
machinery |
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No. of Employee : |
100 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. In
2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world,
surpassing the US that year� 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; �
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. In 2014 China agreed to begin limiting carbon
dioxide emissions by 2030. China implemented several economic reforms in 2014,
including legislation allowing local governments to issue bonds, further
opening several state-owned enterprises to private investment, loosening the
one-child policy, passing harsher pollution fines, and cutting administrative
red tape.
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. In 2014 China agreed to begin limiting carbon
dioxide emissions by 2030. China implemented several economic reforms in 2014,
including legislation allowing local governments to issue bonds, further
opening several state-owned enterprises to private investment, loosening the
one-child policy, passing harsher pollution fines, and cutting administrative
red tape.
|
Source
: CIA |
Company
name and address
Yueyang Dalishen Electromagnetic Machinery Co.,
Ltd.
No. 19, Eco industrial park, rongxin road,
chengguan town,
yueyang county, yueyang city, hunan PROVINCE,
414100 PR CHINA
TEL: 86 (0) 730-7628111
FAX: 86 (0) 730-7635111
EXECUTIVE
SUMMARY
INCORPORATION DATE : mar. 25, 2002
REGISTRATION NO. : 430621000001970
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. li shenglong (legal representative)
STAFF STRENGTH : 100
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
Manufacturing & TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : UNKNOWN
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.22 = 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 co. at local Administration
for industry & commerce (AIC - the official body of issuing and renewing
business license) on Mar. 25, 2002.
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 and selling
lifting magnet, separators, electromagnetic stirrer, burner, magnetic
separator, metallurgical and mining machinery and equipment; selling hardware,
chemicals (excluding the hazard chemicals) and metal materials; purchasing
waste and old magnet, separators and general machinery.
SC is mainly engaged in manufacturing and selling electromagnetic
machinery.
Mr. Li Shenglong is legal representative and chairman of SC at present.
SC is known to have approx. 100 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Yueyang. The detailed
information of the premise is unspecified.
http://www.dalishen.com.cn
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: market@yydls.cn
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2014-10-23 |
Registered capital |
CNY 10,280,000 |
Present amount |
SC’s quality system meets the international standards of ISO 9001.
Organization Code: 736764185
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Shenglong 25
Zhou Shaochuan 25
Chen Bin’nan 25
Zhao Huibai 25
Legal
representative and Chairman:
Mr. Li Shenglong is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
SC is mainly engaged in manufacturing and selling electromagnetic
machinery.
SC’s products mainly include: magnetic separator, lifting magnets, cable
reel, permanent magnet lifter
Trademarks &
patents
Registration no.: 12822783
Registration date: 2014-10-28
Trademark design: 
Registration no.: 3447567
Registration date: 2004-7-7
Trademark design: 
SC sources its materials 100% from domestic market. SC sells 70% of its
products in domestic market, and 30% to overseas market.
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.
Note: SC’s management declined to release its customer and supplier
details.
Website sources:
Distributor in
India
Minco Malvern Process Equipment Pvt. Ltd. (MMPE)
Contact: SHANKER RAMASWAMY (Managing Director)
Add: 106, Royal Castle Apartment, 229 5th Main, 5th Main, 2nd Cross
Kodihalli Bangalore – 560008 India
Tel: +91 80 25274142
Cell: +91 9980118340
Distributor in
Italy
ECOMIN S.r.l.
Tel: +39-010-750581
Fax: +39 010 751267
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’s management declined to release its bank details.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
13 years. Taking into consideration of SC’s general performance, reputation as
well as market conditions we would rate SC as an average credit risk company.
Credit up to moderate amount appears acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
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|
1 |
Rs.96.56 |
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Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
|
<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.