MIRA INFORM REPORT
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Report No. : |
326435 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
MAX ALUMINIUM CO., LTD. |
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Registered Office : |
Room 207, Building 8, Nanjun Mingzhu Residential Area, No. 79 Ziyun Road, National Hefei Economic & Technological Development Area, Hefei City, Anhui Province, 230601 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
23.05.2012 |
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Com. Reg. No.: |
340194000014404 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling aluminum foil, aluminum plate, aluminum strip, aluminum
rolling, embossed aluminum sheet, hydrophilic aluminum foil, colored aluminum
plate, aluminum rolling & related products, electronic connectors,
connectors, copper products, titanium dioxide, carbon ink, home appliances
and textiles; importing and exporting various goods and technologies
(excluding goods and technologies limited or forbidden by state). |
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No. of Employees : |
6 |
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
MAX ALUMINIUM CO., LTD.
room 207, building 8, nanjun mingzhu
residential area, no. 79 ziyun road, NAtional hefei economic &
technological development area, HEFEI
CITY, anhui PROVINCE, 230601 PR CHINA
TEL: 86 (0) 18755160708 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE : May 23, 2012
REGISTRATION NO. :
340194000014404
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MS. CHEN JUAN (CHAIRMAN)
STAFF STRENGTH :
6
REGISTERED CAPITAL : cny 500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 14,200,000 (AS OF DEC. 31,
2014)
EQUITIES :
CNY 740,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.20= 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 Company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on May 23, 2012.
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 selling aluminum foil, aluminum
plate, aluminum strip, aluminum rolling, embossed aluminum sheet, hydrophilic
aluminum foil, colored aluminum plate, aluminum rolling & related products,
electronic connectors, connectors, copper products, titanium dioxide, carbon
ink, home appliances and textiles; importing and exporting various goods and
technologies (excluding goods and technologies limited or forbidden by state).
SC is mainly engaged in selling aluminum products.
Ms. Chen Juan is the legal representative, chairman and general manager
of SC at present.
SC is known to have approx. 6 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the economic & technological development
area of Hefei. The detailed premise information is unknown.
SC is not known to host website of its own at present.
Email: 18755160708@139.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization code: 597066001
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Lin 70
Chen Kai 10
Wang Xuan 10
Ye Jun 10
Legal
Representative, Chairman and General Manager:
Ms. Chen Juan 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:
Ye Jun
SC is mainly engaged in selling aluminum products.
SC’s products mainly include: aluminum foil, aluminum plate, aluminum
strip, aluminum rolling.
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 T/T, Check, L/C and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
Shengzhou Yinhe Aluminium Co., Ltd.
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Reg. No.: 330683000001576
Legal representative: Wang Yixin
Incorporation date: August 23, 2000
Registered capital: CNY 26,000,000
Add.: Xianyan Village, Xianyan Town, Shengzhou City, Zhejiang Province
Tel.: 86 (0) 575-83153356/83153056
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.
The banking information of SC is unknown.
Balance
Sheet
Unit: CNY’000
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As of Dec. 31,
2014 |
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Cash & bank |
820 |
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Inventory |
1,100 |
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Accounts receivable |
110 |
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Other receivables |
180 |
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Other current assets |
20 |
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------------------ |
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Current assets |
2,230 |
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Fixed assets net value |
0 |
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Long term investment |
0 |
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Projects under construction |
0 |
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Intangible and other assets |
0 |
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------------------ |
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Total assets |
2,230 |
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=========== |
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Short loan |
0 |
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Accounts payable |
900 |
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Advances from clients |
1,250 |
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Taxes payable |
-660 |
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Other Accounts payable |
0 |
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Other current liabilities |
0 |
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------------------ |
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Current liabilities |
1,490 |
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Long term liabilities |
0 |
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------------------ |
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Total liabilities |
1,490 |
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Equities |
740 |
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------------------ |
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Total liabilities & equities |
2,230 |
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Income
Statement
Unit: CNY’000
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As
of Dec. 31, 2014 |
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Turnover |
14,200 |
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Cost of goods sold |
13,000 |
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Sales expense |
110 |
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Management expense |
520 |
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Finance expense |
10 |
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Profit before tax |
250 |
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Less: profit tax |
0 |
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Profits |
250 |
Important
Ratios
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As of Dec. 31,
2014 |
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*Current ratio |
1.50 |
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*Quick ratio |
0.76 |
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*Liabilities to assets |
0.67 |
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*Net profit margin (%) |
1.76 |
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*Return on total assets (%) |
11.21 |
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*Inventory /Turnover ×365 |
29 days |
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*Accounts receivable/Turnover ×365 |
3 days |
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*Turnover/Total assets |
6.37 |
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* Cost of goods sold/Turnover |
0.92 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average.
SC’s net profit margin is average.
SC’s return on total assets is good.
SC’s cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a fair level.
The inventory of SC appears fairly large.
The accounts receivable of SC appears average.
SC has no short-term loan in 2014.
SC’s turnover is in a fairly good 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 average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial conditions.
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.