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Report No. : |
325096 |
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Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ANDRITZ (CHINA) LTD. |
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Registered Office : |
No. 9 Tianbao Road, West City Industry Zone, Chancheng District
Foshan, Guangdong Province 528000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.02.2002 |
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Com. Reg. No.: |
440600400007905 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing, developing and selling complete equipment, single
machine and parts for environment protection, industry solid liquid
separation, animal and fish feed manufacturing; pulp paper-making, steel
treatment, water power, power transmission and distribution, automatic
excitation protection governor, driving system, thermal power, nuclear power,
water supplying and irrigation, chemical industry; supplying technology
support services, after sales services and engineering installing; wholesaling and acting as
a commission agency (excluding auction) of the above products, importing and
exporting (excluding those limited or prohibited by the state; in
accordance with the related regulations and license; excluding those specially managed).
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No. of Employees : |
1,010 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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; (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.
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Source
: CIA |
ANDRITZ (CHINA) LTD.
NO. 9 TIANBAO ROAD, WEST CITY INDUSTRY ZONE, CHANCHENG DISTRICT
FOSHAN, GUANGDONG PROVINCE 528000 PR CHINA
TEL: 86 (0) 757-82100836/82023581/82969262
FAX: 86 (0) 757-82969206
Date of Registration : FEBRUARY 9, 2002
REGISTRATION NO. : 440600400007905
LEGAL FORM : WHOLLY
FOREIGN-OWNED ENTERPRISE
CHIEF EXECUTIVE :
Thomas Schmitz (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : eur
22,208,736
staff :
1,010
BUSINESS CATEGORY :
manufacturing & DEVELOPING & trading
REVENUE :
CNY 1,325,120,000 (FROM JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 1,028,230,000 (AS OF JUN. 30, 2014)
WEBSITE : www.andritz.com
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.20 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
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
SC was established as a wholly foreign-owned enterprise of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 440600400007905 on February 9, 2002.
SC’s Organization Code Certificate No.: 73413677-5
SC’s registered capital: EUR 22,208,736
SC’s paid-in capital: EUR 22,208,736
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2003-03 |
Legal Representative |
Franz Hofmann |
Friedrich Papst |
|
Registered Capital |
EUR 550,000 |
EUR 2,100,000 |
|
|
2004-10 |
Registered Capital |
EUR 2,100,000 |
EUR 5,900,000 |
|
2004-07 |
Registration No. |
001979 |
002234 |
|
2008 |
Registered Capital |
EUR 5,900,000 |
EUR 15,900,000 |
|
Registration No. |
002234 |
440600400007905 |
|
|
2013 |
Registered Capital |
EUR 15,900,000 |
EUR 22,208,736 |
|
2014 |
Legal Representative |
Friedrich Papst |
Thomas Schmitz |
|
2014-2 |
Shareholder (s) (% of Shgareholding) |
Andritz AG (Austria) 100% |
Andritz AG (Austria) 76% Andritz Hydro GmbH (Austria) 24% |
|
-- |
Company Name |
Foshan Andritz Technologies Co., Ltd. |
Andritz (China) Ltd. |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Andritz AG (Austria) |
76 |
|
Andritz Hydro GmbH (Austria) |
24 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and General Manager |
Thomas Schmitz |
|
Chairman |
Humbert Koefler |
|
Director |
Christian Dubois |
|
Friedrich Papst |
|
|
Michael Pichler |
|
|
Wolfgang Lashofer |
|
|
Harald Heber |
|
|
Hidde Frankena |
|
|
Supervisor |
Manfred Kandler |
No recent development was found during our checks at present.
Name %
of Shareholding
Andritz AG (Austria) 76
Andritz Hydro GmbH (Austria) 24
Andritz AG (Austria)
-------------------------
The ANDRITZ GROUP is a globally leading supplier of plants, equipment,
and services for hydropower stations, the pulp and paper industry, the
metalworking and steel industries, and solid/liquid separation in the municipal
and industrial sectors. In addition, ANDRITZ offers technologies for certain
other sectors including automation, the production of animal feed and biomass
pellets, pumps, machinery for nonwovens and plastic films, steam boiler plants,
biomass boilers and gasification plants for energy generation, flue gas
cleaning plants, plants for the production of panelboards (MDF), thermal sludge
utilization, and biomass torrefaction plants.
Add.: Stattegger Strasse 18, 8045 Graz, Austria
Web: www.andritz.com
Tel: +43 (316) 6902 0
Andritz Hydro GmbH (Austria)
------------------------------------------
ANDRITZ HYDRO is a global supplier of electro-mechanical systems and
services (“water to wire”) for hydropower plants and one of the leaders in the
world market for hydraulic power generation.
Add: Dr.Karl-Widdmann-Strasse 5, 8160 Weiz, Austria
Phone: +43 (3172) 606 2212
Thomas Schmitz, Legal Representative and General Manager
-------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative and general manager
Humbert Koefler, Chairman
------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as chairman
Director
-----------
Christian Dubois
Friedrich Papst
Michael Pichler
Wolfgang Lashofer
Harald Heber
Hidde Frankena
Supervisor
--------------
Manfred Kandler
SC’s registered business scope includes manufacturing, developing and
selling complete equipment, single machine and parts for environment
protection, industry solid liquid separation, animal and fish feed
manufacturing; pulp paper-making, steel treatment, water power, power
transmission and distribution, automatic excitation protection governor,
driving system, thermal power, nuclear power, water supplying and irrigation,
chemical industry; supplying technology support services, after sales services
and engineering installing; wholesaling
and acting as a commission agency (excluding auction) of the above products,
importing and exporting (excluding those limited or prohibited by the state; in
accordance with the related regulations
and license; excluding those specially managed).
SC is mainly engaged in manufacturing, developing and selling equipment
and parts for environment protection, industry solid liquid separation, animal
and fish feed manufacturing; pulp paper-making, steel treatment, water power,
power transmission and distribution, automatic excitation protection governor,
driving system, thermal power, nuclear power, etc.
SC’s products mainly include: equipment and parts for environment
protection, industry solid liquid separation, animal and fish feed
manufacturing; pulp paper-making, steel treatment, water power, power
transmission and distribution, automatic excitation protection governor,
driving system, thermal power, nuclear power, etc.
SC sources its materials 70% from domestic market, and 30% from overseas market. SC sells 40% of its products in domestic market, and 60% 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.
*Major Clients*
-------------------
Andritz Inc.
Georgia World Congress Center
Staff &
Office:
--------------------------
SC is known to have approx. 1,010
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
Andritz (Wuxi) Nonwoven Technology Co. Ltd.
Date of Registration:
Registration No.: 320200400005392
Legal Form: Wholly Foreign-Owned Enterprise
Registered Capital: USD 3,250,000
Legal Representative: Lukas Andreas
Andritz-Wolfensberger Special Alloy Foundry Co. Ltd.
Date of Registration:
Registration No.: 440600400006197
Registered Capital: EUR 6,303,000
Legal Representative: Manfred Woergoetter
KMPT Service & Trade (Shanghai) Co. Ltd.
Date of Registration:
Registration No.: 310000400601848
Legal Form: Wholly Foreign-Owned Enterprise
Registered Capital: EUR 110,000
Legal Representative: Gottfried Schmoelzer
SC is known to
have the following branches:
Andritz (China) Ltd. Beijing Branch
Andritz (China) Ltd. Shanghai Branch
Andritz (China) Ltd. Hangzhou Branch
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’s suppliers declined to make any
comments.
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.
Basic Bank
Ping An Bank Foshan Dali Sub-branch
AC#: 11000667840901
Balance Sheet
|
Unit: CNY’000 |
As of Dec. 31,
2013 |
|
Cash |
1,386,450 |
|
Notes receivable |
111,890 |
|
Accounts receivable |
790,830 |
|
Advances to suppliers |
60,270 |
|
Other receivable |
17,210 |
|
Inventory |
340,010 |
|
Prepaid expenses |
0 |
|
Other current assets |
0 |
|
|
------------------ |
|
Current assets |
2,706,660 |
|
Held-to-maturity investment |
160,000 |
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Long-term investment |
87,700 |
|
Fixed assets |
218,850 |
|
Construction in progress |
28,980 |
|
Intangible assets |
15,020 |
|
Long-term prepaid expenses |
0 |
|
Deferred income tax assets |
122,230 |
|
Other non-current assets |
0 |
|
|
------------------ |
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Total assets |
3,339,440 |
|
|
============= |
|
Short-term loans |
0 |
|
Notes payable |
0 |
|
Accounts payable |
407,490 |
|
Payroll payable |
103,270 |
|
Taxes payable |
4,490 |
|
Advances from clients |
1,025,070 |
|
Other payable |
524,690 |
|
Accrued expenses |
0 |
|
Other current liabilities |
359,650 |
|
|
------------------ |
|
Current liabilities |
2,424,660 |
|
Non-current liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
2,424,660 |
|
Equities |
914,780 |
|
|
------------------ |
|
Total liabilities & equities |
3,339,440 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2013 |
|
Revenue |
2,814,070 |
|
Cost of sales |
2,066,220 |
|
Taxes and surcharges |
20,590 |
|
Sales expense |
167,090 |
|
Management expense |
315,230 |
|
Finance expense |
-11,050 |
|
Investment income |
3,450 |
|
Profit before tax |
285,650 |
|
Less: profit tax |
43,090 |
|
Profits |
242,560 |
Financial Summary
|
Unit: CNY’000 |
As of Jun. 30,
2014 |
|
Total assets |
3,945,810 |
|
|
------------- |
|
Total liabilities |
2,917,580 |
|
Equities |
1,028,230 |
|
|
------------- |
|
|
From Jan. 1,
2014 to Jun. 30, 2014 |
|
Revenue |
1,325,120 |
|
Profits |
113,450 |
Important Ratios
=============
|
|
As of Dec. 31,
2013 |
As of Jun. 30,
2014 |
|
*Current ratio |
1.12 |
-- |
|
*Quick ratio |
0.98 |
-- |
|
*Liabilities to assets |
0.73 |
0.74 |
|
*Net profit margin (%) |
8.62 |
8.56 |
|
*Return on total assets (%) |
7.26 |
2.88 |
|
*Inventory / Revenue ×365 |
45 days |
-- |
|
*Accounts receivable / Revenue ×365 |
103 days |
-- |
|
*Revenue / Total assets |
0.84 |
0.34 |
|
*Cost of sales / Revenue |
0.73 |
-- |
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is fairly good.
SC’s return on total assets is fairly good.
SC’s cost of goods sold is average, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
The inventory of SC appears average.
The accounts receivable of SC appears large.
SC has no short-term loans.
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.71.82 |
|
Euro |
1 |
Rs.97.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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.