MIRA INFORM REPORT
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Report No. : |
354101 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ANPING COUNTY JINLU WIRE MESH MACHINE CO., LTD. |
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Registered Office : |
No. 22 North Hanwang Road, Anping County, Hengshui Hebei Province
053600 Pr |
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Country : |
China |
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Financials (as on) : |
31.10.2015 |
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Date of Incorporation : |
01.07.2009 |
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Com. Reg. No.: |
131125000010108 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Manufacturing and
selling metal wire, metal mesh, wire mesh machine, machinery parts products
mainly include: Chain link fence
machine, Crimped wire mesh machine, Welded mesh machine, Barbed wire machine,
Wire weaving machine, wire straightener machine, Conveyor belt machine, Wire
drawing machine, Expanded metal machine, Hexagonal wire mesh machine, Window
screen weaving machine |
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 : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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 for the
first time in modern history. Still, China's per capita income is below the
world average.
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 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 2014 more than 274 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 also
implemented several economic reforms in 2014, including passing legislation to
allow local governments to issue bonds, opening several state-owned enterprises
to further private investment, loosening the one-child policy, passing harsher
pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name and address
ANPING COUNTY JINLU WIRE MESH
MACHINE CO., LTD.
NO. 22 NORTH HANWANG ROAD, ANPING COUNTY, HENGSHUI HEBEI PROVINCE
053600 PR CHINA
TEL: 86 (0) 318-7203327/7203328
FAX: 86 (0) 318-7023796
EXECUTIVE
SUMMARY
Date
of Registration : JULY 1, 2009
REGISTRATION
NO. : 131125000010108
LEGAL
FORM : One-person Limited Liability Company
CHIEF
EXECUTIVE : LIU WANZHI
(LEGAL REPRESENTATIVE)
REGISTERED
CAPITAL : CNY 500,000
staff : 18
BUSINESS
CATEGORY : MANUFACUTRING & TRADING
REVENUE : CNY 3,890,000 (FROM JAN. 1, 2015 TO OCT.
31, 2015)
EQUITIES : CNY 980,000
(AS OF OCT. 31, 2015)
WEBSITE : www.metalmesh-machine.cn
E-MAIL : sales@metalmesh-machine.cn
PAYMENT
: SLOW BUT
CORRECT
MARKET
CONDITION : fair
FINANCIAL
CONDITION : fairly stable
OPERATIONAL
TREND : ORDINARY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.42 = 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 one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 131125000010108 on July
1, 2009.
SC’s Organization Code Certificate No.: 67419471-0
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration
Change Record:-
No significant changes of SC have been noted in SAIC since its
incorporation.
Current Co
search indicates SC’s shareholders & chief executives are as follows:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Liu Wanzhi |
100 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal
Representative, Chairman and General Manager |
Liu Wanzhi |
|
Supervisor |
Liu Suzhe |
RECENT
DEVELOPMENT
No recent development
was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Liu Wanzhi 100
MANAGEMENT
Liu Wanzhi, Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Gender: M
Qualification:
University
Working experience (s):
At present, working
in SC as legal representative, chairman and general manager
Supervisor
--------------
Liu Suzhe
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing and selling metal wire, metal mesh, wire mesh machine,
machinery parts; international trade.
SC is mainly engaged
in manufacturing and selling wire mesh machine.
SC’s products
mainly include:
Chain link fence
machine
Crimped wire mesh
machine
Welded mesh machine
Barbed wire machine
Wire weaving
machine
wire straightener
machine
Conveyor belt
machine
Wire drawing
machine
Expanded metal
machine
Hexagonal wire mesh
machine
Window screen
weaving machine
SC sources its materials 100% from domestic market, mainly Hebei. SC sells 80% of its products in domestic market, and 20% 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 Customers:
==============
Metales
Desplegados, S.A. De C.V.
Colombia Unida
Limitada
Staff & Office:
--------------------------
SC is known to
have approx. 18 staff at
present.
SC rents an area as
its operating office and factory, but the detailed information is unknown.
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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial
Summary
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Unit: CNY’000 |
As of Oct. 31, 2015 |
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Total assets |
2,070 |
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------------- |
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Total liabilities |
1,090 |
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Equities |
980 |
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------------- |
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Unit: CNY’000 |
From Jan. 1, 2015 to Oct. 31, 2015 |
|
Revenue |
3,890 |
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Cost of sales |
3,430 |
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Profit before tax |
170 |
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Less: profit tax |
20 |
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Profits |
150 |
Important Ratios
=============
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As of Oct. 31, 2015 |
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*Liabilities to
assets |
0.53 |
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*Net profit
margin (%) |
3.86 |
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*Return on total
assets (%) |
7.25 |
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*Revenue / Total
assets |
1.88 |
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*Cost of sales /
Revenue |
0.88 |
FINANCIAL
COMMENTS
PROFITABILITY: AVERAGE
The revenue of SC
appears fair in its line.
SC’s net profit
margin is average.
SC’s return on
total assets is fairly good.
SC’s cost of sales
is average, comparing with its revenue.
LIQUIDITY: AVERAGE
SC’s revenue is in
an average level, comparing with the size of its total assets.
LEVERAGE: FAIR
The debt ratio of
SC is average.
The risk for SC to
go bankrupt is above average.
Overall financial condition of the SC:
Fairly Stable.
CONCLUSIONS
SC is considered
small-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
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Euro |
1 |
Rs.73.46 |
|
CNY |
1 |
Rs.10.36 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
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 |
-- |
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.