MIRA INFORM REPORT
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Report No. : |
306364 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI CLIRIK MACHINERY CO., LTD. |
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Registered Office : |
No. 19, Fuqing Road, Heqing Town, Pudong New Area,
Shanghai 201201 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
02.12.2010 |
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Com. Reg. No.: |
310115001768436 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
engaged in manufacturing
and Selling Machinery Equipment. Subject product
ranges includes: Grinding Mill · Coarse Powder Hammer Mill · Micro Powder Grinding Mill · Raymond Mill · Stone Powder Grinding Mach · Ball Mill · Ultrafine Grinding Mill · Micro Powder Grinding Equipment · Micro Pulverizer Machine · Fine powder grinding machine Crusher · PE Jaw Crusher · PEX Jaw Crusher · Hammer Mill Crusher · PC Hammer crusher · Box-type Crusher · Jaw crusher · PC600x400 Hammer crusher · PC800x600 Hammer Crusher · PE250*400 Jaw crusher · PC400*300 Hammer crusher Others ·
NE
plate chain bucket ·
TH
Bucket elevator ·
TD
belt elevator ·
DM
Pulse Bag Deduster ·
SLG
Continuous Modify ·
TH
Bucket Elevator |
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No of Employees : |
140 (Approximately) |
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 : |
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 – December 31, 2014
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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 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 & address
SHANGHAI CLIRIK MACHINERY
CO., LTD.
NO. 19, FUQING ROAD,
HEQING TOWN,
PUDONG NEW AREA,
SHANGHAI 201201 PR CHINA
TEL: 86 (0)
21-20236178/ 58973692 FAX: 86 (0)
21-20236178
EXECUTIVE
SUMMARY
INCORPORATION DATE : DEC. 2, 2010
REGISTRATION NO. : 310115001768436
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE : MR. YANG SONGKE (CHAIRMAN)
STAFF STRENGTH :
140
REGISTERED CAPITAL : CNY 6,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
CNY 56,350,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 6,800,000 (AS OF DEC. 31, 2013)
PAYMENT :
Slow but Correct
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2541 = 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 Dec. 2, 2010.
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 general machinery
equipment; importing and exporting commodities and technologies. (with permit
if needed)
SC is mainly
engaged in manufacturing and selling machinery equipment.
Mr. Yang Songke is
legal representative and chairman of SC at present.
SC is known to
have approx. 140 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 Shanghai. The detailed premise information is unspecified.
http://www.clirik.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: sales@clirik.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
Organization code: 566529675
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Yang Songke 51
Zhang Luke 49
Legal
representative and chairman:
Mr. Yang Songke is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
Supervisor:
Zhang Luke
SC is mainly
engaged in manufacturing and selling machinery equipment.
Main products:
Grinding Mill
Coarse Powder Hammer Mill
Micro Powder Grinding Mill
Raymond Mill
Stone Powder Grinding Mach
Ball Mill
Ultrafine Grinding Mill
Micro Powder Grinding Equipment
Micro Pulverizer Machine
Fine powder grinding machine
Crusher
PE Jaw Crusher
PEX Jaw Crusher
Hammer Mill Crusher
PC Hammer crusher
Box-type Crusher
Jaw crusher
PC600x400 Hammer crusher
PC800x600 Hammer Crusher
PE250*400 Jaw crusher
PC400*300 Hammer crusher
Others
·
NE
plate chain bucket
·
TH
Bucket elevator
·
TD
belt elevator
·
DM
Pulse Bag Deduster
·
SLG
Continuous Modify
·
TH
Bucket Elevator
SC sources its materials 60% from domestic
market, and 40% from overseas market. SC sells 50% of its products in domestic
market, and 50% 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.
Note:
SC declined to release its major suppliers and clients.
Trademark &
Patents
|
Registration No. |
12070686 |
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Registration Date |
2014-7-7 |
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Trademark Design |
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SC is not known to have the subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Slow but
Correct ( ) 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 accountant
refused to release the bank details.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2013 |
|
Cash & bank |
5,220 |
|
Inventory |
8,690 |
|
Bills receivable |
0 |
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Accounts
receivable |
0 |
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Other
receivables |
1,030 |
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Other current
assets |
30 |
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|
------------------ |
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Current assets |
14,970 |
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Fixed assets net
value |
5,230 |
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Long term
investment |
0 |
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Projects under
construction |
0 |
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Intangible and
other assets |
340 |
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|
------------------ |
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Total assets |
20,540 |
|
|
=========== |
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Short loan |
0 |
|
Accounts payable |
11,440 |
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Advances from
clients |
0 |
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Other Accounts
payable |
1,250 |
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Other current
liabilities |
1,050 |
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|
------------------ |
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Current
liabilities |
13,740 |
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Long term
liabilities |
0 |
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|
------------------ |
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Total
liabilities |
13,740 |
|
Equities |
6,800 |
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------------------ |
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Total
liabilities & equities |
20,540 |
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=========== |
Income Statement
Unit: CNY’000
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|
As of Dec. 31,
2013 |
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Turnover |
56,350 |
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Cost of goods sold |
44,220 |
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Sales expense |
4,480 |
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Management expense |
6,370 |
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Finance expense |
60 |
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Profit before tax |
1,100 |
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Less: profit tax |
270 |
|
Profits |
830 |
Important
Ratios
=============
|
|
As of Dec. 31, 2013 |
|
*Current ratio |
1.09
|
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*Quick ratio |
0.46
|
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*Liabilities
to assets |
0.67
|
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*Net profit
margin (%) |
1.47
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*Return on
total assets (%) |
4.04
|
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*Inventory
/Turnover ×365 |
57
days |
|
*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
2.74
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* Cost of
goods sold/Turnover |
0.78
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PROFITABILITY:
AVERAGE
l The turnover of SC
appears average.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears fairly large.
l
SC has no accounts receivable in 2013.
l
SC has no short-term loan in 2013.
l
SC’s turnover 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.
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of inventory could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
|
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.