MIRA INFORM REPORT
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Report No. : |
326436 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MINMETALS YINGKOU MEDIUM PLATE CO., LTD. |
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Registered Office : |
No. 1 Fanrong Road, Yejin Street, Laobian District Yingkou, Liaoning
Province 115005 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
21.06.2002 |
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Com. Reg. No.: |
210800004032588 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in manufacturing,
processing and selling steel, medium and heavy plate. |
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No. of Employee : |
1,150 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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; (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.
|
Source
: CIA |
company
name and address
MINMETALS YINGKOU
MEDIUM PLATE CO., LTD.
NO. 1 FANRONG ROAD, YEJIN STREET, LAOBIAN DISTRICT
YINGKOU, LIAONING PROVINCE 115005 PR CHINA
TEL: 86 (0) 417-3256012
FAX: 86 (0) 417-3256000
EXECUTIVE
SUMMARY
Date of Registration : JUNE 21, 2002
REGISTRATION NO. : 210800004032588
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 4,939,083,300
staff :
1,150
BUSINESS CATEGORY : MANUFACTURING
& PROCESSING & TRADING
Revenue :
CNY 14,094,536,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 3,137,314,000 (AS OF DEC. 31, 2014)
WEBSITE : www.wkyg.com
E-MAIL :
zhangxu@wkyg.com
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIR
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
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.: 210800004032588 on June 21, 2002.
SC’s Organization Code Certificate No.:
73879551-6
SC’s registered capital: CNY 4,939,083,300
SC’s paid-in capital: CNY 4,939,083,300
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 |
|
Minmetals Development Co., Ltd. |
50.40 |
|
Rizhao Steel Holding Group Co., Ltd. |
39.96 |
|
China Minmetals Corporation |
3.64 |
|
Shenyang Jiaying Metal Materials Co., Ltd. |
3.04 |
|
Tianjin TEDA Jiacheng Steel Trade Co.,
Ltd. |
2.02 |
|
Shandong Zhongda International Trade Co.,
Ltd. |
0.94 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Deng Chuping |
|
Vice Chairman |
Wang Lifei |
|
General Manager |
Zhang Guiyin |
|
Deputy General Manager |
Zhang Yangzhen |
|
Zhang Zhizhong |
|
|
Chai Yue |
|
|
Zhang Lin |
|
|
Che Li |
|
|
Director |
Fu Minying |
|
Xue Jian |
|
|
Wang Hongli |
|
|
He Yu |
|
|
Wang Qinghai |
|
|
Supervisor |
Xun Zhihe |
|
Wu Rongting |
|
|
Wu Lihong |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Minmetals Development Co., Ltd. 50.40
Rizhao Steel Holding Group Co., Ltd. 39.96
China Minmetals Corporation 3.64
Shenyang Jiaying Metal Materials Co., Ltd. 3.04
Tianjin TEDA Jiacheng Steel Trade Co., Ltd. 2.02
Shandong Zhongda International Trade Co.,
Ltd. 0.94
Minmetals
Development Co., Ltd.
------------------------------
Minmetals Development Co., Ltd. was solely
set up by China Minmetals Corp., with registration date on May 21st, 1997 and
IPO on May 28th of the same year as A Shares on Shanghai Stock Exchange (stock
code: 600058).
Achieving an annual revenue of over RMB 100
billion, Minmetals Development is China’s largest integrated steel trading and
logistics services provider with its business covering different links of ferrous
industrial chain such as metallurgical raw materials trade, steel trade,
processing & distribution and logistics service. The company’s controlling
shareholder is China Minmetals Corporation Limited and the de facto controller
is China Minmetals Corporation. Ranking 228th among the Fortune Global
Date of Registration: May 21, 1997
Registration No.: 110000001200801
Legal Form: Shares limited co.
Legal Representative: Zhou Zhongshu
Registered Capital: CNY 1,071,910,711
Add: Block B, No. 5, Sanlihe Road, Haidian
District, Beijing
Tel: 86 (0) 10- 68494205
Fax: 86 (0) 10-68494207
E-mail: minlist@minmetals.com
Web: www.minlist.com.cn
Rizhao
Steel Holding Group Co., Ltd.
------------------------------------
Rizhao Steel Holding Group Co., Ltd. is
China's one of the most competitive private enterprises. After ten years development,
the company has become a production capacity of over ten million, taxpayers
billions of large-scale iron and steel enterprises, with more than 12,000
employees, with sintering, pelletizing, iron, steel, rolled steel, power
generation, oxygen, etc. set of modern iron and steel production process and
related facilities.
Registration No.: 371100018050364
Legal Form: One-person Limited Liability
Company
Registered Capital: CNY 800,000,000
Add: No. 600, Yanhai Road, Rizhao, Shandong
Province
Tel: 86 (0) 633-6188060
Fax: 86 (0) 633-6180000
E-mail: service@rizhaosteel.com
Web: www.rizhaosteel.com
China
Minmetals Corporation
------------------------------------
China Minmetals Corporation is an
international metals and mining corporation committed to providing high-quality
services globally, adhering to a development philosophy of “cherishing limited
resources and pursue boundless development”. It primarily engages in
exploration, mining, smelting, processing and trading for metals and minerals,
and is also engaged in finance, real estate, and mining and metallurgic
technology, with business scope covering 28 nations and regions in the world.
Add: TowerA Minmetals Plaza, No.3 Chao
Yangmen North Avenue, Dongcheng District, Beijing, P.R. China 100010
Tel: 86-10-60169000
Fax: 86-10-60167666
Website: www.minmetals.com
E-mail: support@minmetals.com.cn
MANAGEMENT
Deng Chuping, Legal Representative and Chairman
------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 53
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Also
working in Minmetals Development Co., Ltd. as deputy general manager
Wang Lifei, Vice Chairman
-----------------------------------------------
Ø
Gender: M
Ø Working experience
(s):
At present, working in SC as vice chairman
Zhang Guiyin , General Manager
------------------------------------------------------
Ø
Gender: M
Ø Working experience
(s):
At present, working in SC as general manager
Deputy General Manager
---------------------------------
Zhang Yangzhen
Zhang Zhizhong
Chai Yue
Zhang Lin
Che Li
Director
-----------
Fu Minying
Xue Jian
Wang Hongli
He Yu
Wang Qinghai
Supervisor
--------------
Xun Zhihe
Wu Rongting
Wu Lihon
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing and operating
steel, iron and raw materials (excluding the items limited by the state), hot
rolled plate, plate products, oxygen (liquefied), nitrogen (liquefied), argon
(liquefied) {oxygen, nitrogen, argon production and operation permit}
(exporting a variety of medium and heavy plate, plate products
produced by the company, importing raw materials, equipment and apparatus
needed by producing); materials processing plate; selling electrical energy.
SC is mainly
engaged in manufacturing, processing and selling steel,
medium and heavy plate.
SC’s products
mainly include: carbon structural steel, supper carbon structural steel, building
structural steel, pressure vessel steel
SC sources its materials 90% from domestic market, and 10% from the
overseas market. SC sells 70% of its products in domestic market, and 30% 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. 1,150 staff
at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
China National
Minerals Co., Ltd.
------------------------------
Date of Registration: May 30, 1987
Registration No.: 110000005005284
Legal Form: Limited Liabilities Company
Legal Representative: Liu Leiyun
Registered Capital: CNY 900,000,000
Add: Minmetal Building, No. 5, Sanlihe Road, Haidian District, Beijing,
100044 Pr China
Tel: 86 (0) 10-68494308/68494563
Fax: 86 (0) 10-68494580
Minmetals (Hunan)
Ferro-Alloys Co., Ltd.
----------------------------------------
Date of Registration: April 26, 2007
Registration No.: 430381000002528
Registered Capital: CNY 286,380,000
Legal Representative: Liu Leiyun
Tel: 86-731-56806847
Fax: 86-731-56806425
Minmetals
Steel Co., Ltd.
------------------------------
Date of Registration: January 17, 1997
Registration No.: 110000001144148
Registered Capital: CNY 900,000,000
Legal Representative: Yao Ziping
Tel: 86 (0) 10-68494014/68494812
Fax: 86 (0) 10-68494840/68315155
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 local SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
Long term investment |
-- |
76,634 |
-- |
-- |
|
Total assets |
15,122,596 |
14,690,779 |
18,256,902 |
18,573,687 |
|
|
------------- |
------------- |
------------- |
------------- |
|
Current
liabilities |
-- |
8,682,575 |
-- |
-- |
|
Long term liabilities |
-- |
1,795,264 |
-- |
-- |
|
|
------------- |
------------- |
------------- |
------------- |
|
Total liabilities |
-- |
10,477,839 |
14,482,420 |
15,436,373 |
|
Equities |
-- |
4,212,940 |
3,774,482 |
3,137,314 |
|
|
------------- |
------------- |
------------- |
------------- |
|
Revenue |
8,030,853 |
7,723,184 |
11,652,056 |
14,094,536 |
|
Profit before tax |
-- |
-1,123,070 |
-449,982 |
-648,652 |
|
Less: profit tax |
-- |
-271,594 |
0 |
0 |
|
Profits |
-- |
-851,476 |
-449,982 |
-648,652 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
*Liabilities
to assets |
-- |
0.71 |
0.79 |
0.83 |
|
*Net profit
margin (%) |
-- |
-11.02 |
-3.86 |
-4.60 |
|
*Return on
total assets (%) |
-- |
-5.80 |
-2.46 |
-3.49 |
|
*Revenue/Total
assets |
0.53 |
0.53 |
0.64 |
0.76 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIR
l The revenue of SC
appears fairly good in its line.
l SC’s net profit
margin is fair.
l SC’s return on
total assets is fair.
LIQUIDITY: FAIR
l
SC’s revenue is in a fair 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 low.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered large-sized in its line with fair financial conditions.
Taking into consideration of SC’s
good background.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
VNT |
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.