MIRA INFORM REPORT
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Report No. : |
326187 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
Camet
MetallurgicalTechnologies Co., Ltd. |
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Registered Office : |
Suite 410, Science Park Of Beijing University Of Chemical Technology, No. 98 Zizhuyuan Road, Haidian District, Beijing, 100089 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
16.06.2006 |
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Com. Reg. No.: |
110108009728806 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in technology development, technology promotion, technology
transfer, technical consulting and technology services; selling mechanical
equipment, hardware, electronics and building materials; import and export of
goods and technologies, and acting as an agent for it. (With permit if
needed.) |
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No. of Employees : |
26 |
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. 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 |
Company
Name & address
Camet MetallurgicalTechnologies Co., Ltd.
Suite 410, Science park of Beijing University
of Chemical Technology, No. 98 Zizhuyuan Road, Haidian district, beijing,
100089 PR CHINA
TEL: 86 (0) 10-59796998 FAX: 86 (0) 10-88589776
EXECUTIVE
SUMMARY
INCORPORATION DATE : june 16, 2006
REGISTRATION NO. : 110108009728806
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. li weifeng (legal representative)
STAFF STRENGTH :
26
REGISTERED CAPITAL : CNY
6,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 31,280,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 8,780,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.21 = 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 June 16, 2006.
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 technology development,
technology promotion, technology transfer, technical consulting and technology
services; selling mechanical equipment, hardware, electronics and building
materials; import and export of goods and technologies, and acting as an agent
for it. (With permit if needed.)
SC is mainly engaged in selling metallurgical products.
Mr. Li Weifeng is legal representative, chairman and general manager of
SC at present.
SC is known to have approx. 26 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in Beijing. The detailed information of the premise
is unspecified.
www.camet.com.cn
The design is professional and the content is well organized. At present it is
in both Russian and English versions.
Email: liweifeng@camet.com.cn kangxiangguang@camet.com.cn
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Tax Registration Certificate No.: 110108790686544
Organization Code: 790686544
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Investment amount
(CNY’0000) % of Shareholding
Li Bo 1 0.17
Li Weifeng 599 99.83
Legal
representative, Chairman and General manager:
Mr. Li Weifeng is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
Supervisor:
Li Bo
SC is mainly engaged in selling metallurgical products.
SC’s products mainly include: indefinite chilled cast iron roll,
definite chilled cast iron roll, high chrome cast iron roll, bearings, ingot
mould, etc.
Trademarks &
patents
Registration no.: 12203742
Registration date: 2014-8-7
Trademark design: 
SC sources its materials 100% from domestic market. SC sells 30% of its
products in domestic market, and 70% to overseas market.
The buying terms of SC include Check, T/T 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’s management declined to release its customer and supplier
details.
SC is not known to have any subsidiary at present.
Overall payment appraisal : ( )
Excellent ( ) Good
(X) Average ( ) 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 management declined to release its bank details.
Balance
Sheet
Unit: CNY’000
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as of Dec. 31,
2014 |
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Cash & bank |
2,620 |
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Inventory |
1,580 |
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Accounts receivable |
950 |
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Advances to suppliers |
0 |
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Other receivables |
3,340 |
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Other current assets |
20 |
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------------------ |
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Current assets |
8,510 |
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Fixed assets net value |
50 |
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Projects under construction |
0 |
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Long term investment |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
8,560 |
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============= |
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Short loans |
2,000 |
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Accounts payable |
-2,120 |
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Other payable |
90 |
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Taxes payable |
-180 |
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Advances from clients |
-10 |
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Other current liabilities |
0 |
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------------------ |
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Current liabilities |
-220 |
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Long term liabilities |
0 |
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------------------ |
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Total liabilities |
-220 |
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Equities |
8,780 |
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------------------ |
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Total liabilities & equities |
8,560 |
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Income
Statement
Unit: CNY’000
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as of Dec. 31,
2014 |
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Turnover |
31,280 |
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Cost of goods sold |
25,700 |
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Sales expense |
1,520 |
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Management expense |
3,740 |
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Finance expense |
180 |
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Profit before tax |
400 |
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Less: profit tax |
100 |
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Profits |
300 |
Important
Ratios
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as of Dec. 31,
2014 |
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*Current ratio |
/ |
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*Quick ratio |
/ |
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*Liabilities to assets |
/ |
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*Net profit margin (%) |
0.96 |
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*Return on total assets (%) |
3.50 |
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*Inventory /Turnover ×365 |
19 days |
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*Accounts receivable/Turnover ×365 |
12 days |
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*Turnover/Total assets |
3.65 |
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* Cost of goods sold/Turnover |
0.82 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
The inventory of SC is maintained in an average level.
The accounts receivable of SC is maintained in an average level.
SC’s short-term loan appears fairly large in 2014.
SC’s turnover is in a fairly good level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. The large amount of short loans could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.88 |
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|
1 |
Rs.98.47 |
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Euro |
1 |
Rs.72.14 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.