MIRA INFORM REPORT
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Report No. : |
356774 |
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Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ANHUI HELI
INDUSTRIAL VEHICLE IMPORT AND EXPORT CO., LTD. |
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Registered Office : |
8/F Heli Building,
No. 15 Wangjiang West Road, Hefei, Anhui Province 230031 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2015 |
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Date of Incorporation : |
19.10.2005 |
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Com. Reg. No.: |
340000000016122 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Subject is mainly engaged in selling fork-lift trucks, engineering machinery and parts. · Subject’s products mainly include: forklifts, stack trucks, tractors, pallet trucks, and their components. |
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No. of Employees : |
50 |
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 – 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
ANHUI HELI INDUSTRIAL VEHICLE IMPORT AND
EXPORT CO., LTD.
8/F HELI BUILDING, NO. 15
WANGJIANG WEST ROAD
HEFEI, ANHUI PROVINCE 230031 PR
CHINA
TEL: 86 (0)
551-3639068/3639358/3639566
FAX: 86 (0) 551-3639966
EXECUTIVE
SUMMARY
Date of Registration : OCTOBER 19, 2005
REGISTRATION NO. : 340000000016122
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 18,000,000
staff : 50
BUSINESS CATEGORY : TRADING
TOTAL ASSETS :
CNY 203,530,000 (as of Jun. 30, 2015)
PROFITS : CNY 8,493,000 (From Jan. 1, 2015 to Jun. 30, 2015)
WEBSITE : N/A
E-MAIL : heli_jck@heliforklift.com
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.45 = 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 limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 340000000016122 on October 19, 2005.
SC’s Organization Code Certificate No.:
78107202-2
SC’s registered capital: CNY 18,000,000
SC’s paid-in capital: CNY 18,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2009-04-21 |
Registered Capital |
CNY 8,000,000 |
CNY 18,000,000 |
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Shareholder (s) (% of Shareholding) |
Anhui Heli Co., Ltd. 40% Anhui Hean Mechanical & Electrical
Co., Ltd. 35% Gong Renwu 10.15% Chen Jie 4.9% Gao Junchao
3.3% Wu Jun 5.1% Hu Zhongde 1.55% |
Anhui Heli Co., Ltd. 75% Gong
Renwu10.15% Chen Jie 4.9% Gao Junchao 3.3% Wu Jun 5.1% Hu Zhongde 1.55% |
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|
2010-3-19 |
Shareholder (s) (% of Shareholding) |
Anhui Heli Co., Ltd. 75% Gong Renwu
10.15% Chen Jie 4.9% Gao Junchao 3.3% Wu Jun 5.1% Hu Zhongde 1.55% |
Anhui Heli Co., Ltd. 75.0% Chen Jie 5.0% Gao Junchao 3.4% Wu Jun 5.6% Hu Zhongde 11.0% |
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Registered No. |
3400001004794 |
340000000016122 |
|
Legal
Representative |
Yang Anguo |
Deng Li |
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2015-3-16 |
Legal
Representative |
Deng Li |
Yang Anguo |
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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Anhui Heli Co., Ltd. |
75.0 |
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Chen Jie |
5.0 |
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Gao Junchao |
3.4 |
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Wu Jun |
5.6 |
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Hu Zhongde |
11.0 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal
Representative and Chairman |
Yang Anguo |
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General
Manager and Director |
Chen Jie |
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Director |
Xue Bai |
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Deng Li |
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Zhou Jun |
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Supervisor |
Gao Junchao |
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Chen Jianjun |
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|
Zhou Qiqi |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Anhui Heli Co., Ltd. 75.0
Chen Jie 5.0
Gao Junchao 3.4
Wu Jun 5.6
Hu Zhongde 11.0
Anhui Heli Co.,
Ltd.
==================
Anhui Heli Co., Ltd. listed in Shanghai Stock Exchange Market in 1996
with the stock code 600761. It is mainly engaged in R&D and manufacturing
of industrial vehicles, construction machinery and key components. At present,
Anhui HELI is the R&D, manufacture and export base of industrial vehicles
with largest scale, the most complete industry chain, and the best
comprehensive and economic performance in China, it is the only listed company
in Chinese forklift industry, it owns a national-level “Enterprise Technical
Center”, and it has been awarded as “National Innovative Enterprise”, “State
High-tech Enterprise in National Torch Project”, and “the Leading Enterprise of
Engineering Machinery Construction Base(Hefei) in Anhui Province”. “HELI”
trademark is “the Well-known Trademark of China”.
Date of Registration: September 30, 1993
Registration No.: 340000000017141
Legal Form: Shares
Limited Company
Registered Capital: CNY 616,817,335
MANAGEMENT
Yang Anguo, Legal Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: M
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Chen Jie, General Manager and Director
--------------------------------------------------------------
Ø
Gender: F
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manager
and director
Director
----------
Xue Bai
Deng Li
Zhou Jun
Supervisor
--------------
Gao Junchao
Chen Jianjun
Zhou Qiqi
BUSINESS
OPERATION
SC’s registered business scopes include
selling, importing and exporting fork-lift trucks, engineering machinery and parts (not engage in any items prohibited by
laws, administrative regulation and State Council).
SC is mainly
engaged in selling fork-lift
trucks, engineering machinery and parts.
SC’s products
mainly include: forklifts, stack trucks, tractors, pallet trucks, and their components,
etc.
SC sources its products 90% from domestic market, and 10% from overseas market. SC sells 20% of its products in domestic market, and 80% to overseas market.
The buying terms of SC include Check, T/T, L/C 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. 50 staff at
present.
SC rents an area
as its operating office of approx. 570 sq. meters at the heading address.
RELATED COMPANY
Shanghai
Heli Forklift Co., Ltd.
Guangdong
Heli Forklift Co., Ltd.
Zhengzhou
Heli Forklift Co., Ltd.
Shanxi
Heli Forklift Co., Ltd.
Nanjing
Heli Forklift Co., Ltd.
Shanghai
Heli Engineering Vehicles Co., Ltd.
Hangzhou
Heli Forklift Sales Co., Ltd.
Shandong
Heli Forklift Sales Co., Ltd.
Tianjin
North Heli Forklift Truck Co., Ltd.
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 SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
As of Jun. 30, 2015 |
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Total assets |
170,548 |
143,617 |
181,324 |
203,530 |
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As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
From Jan. 1, 2015 to Jun. 30, 2015 |
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Profits |
22,015 |
16,585 |
15,480 |
8,493 |
Important Ratios
=============
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|
As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
As of Jun. 30, 2015 |
|
*Return on total assets (%) |
12.91 |
11.55 |
8.54 |
4.17 |
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.66.14 |
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|
1 |
Rs.98.69 |
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Euro |
1 |
Rs.72.55 |
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CNY |
1 |
Rs.10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
NIT |
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.