MIRA INFORM REPORT
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Report No. : |
322178 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
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Name : |
Chongqing Camel
Power Machinery CO., LTD. |
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Registered Office : |
Wuxing Industrial Base, Tongxing Industrial Zone, Chongqing, 400700 Pr |
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Country : |
China |
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Date of Incorporation : |
29.08.2002 |
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Com. Reg. No.: |
500109000004051 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Mainly Engaged in Manufacturing and Selling Diesel Engines,
Generators, Water Pumps Sets |
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No. of Employees : |
218 |
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 : |
Unknown |
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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 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name and address
Chongqing Camel Power
Machinery CO., LTD.
wuxing industrial base, tongxing industrial
zone,
chongqing, 400700 PR CHINA
TEL: 86 (0) 23-68256043/68216710
FAX: n/a
EXECUTIVE
SUMMARY
INCORPORATION DATE : aug. 29, 2002
REGISTRATION NO. : 500109000004051
REGISTERED LEGAL FORM : Limited liabilities
company
chief executive :
xiong jie (CHAIRMAN)
STAFF STRENGTH :
218
REGISTERED CAPITAL : CNY 7,200,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.2054 = 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
Note: SC’s current operating address should be the heading one, while
the was the former one.
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 Aug. 29, 2002.
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 & selling
diesel engines, generators, water pumps sets, tillers, tractors and machinery
parts; import and export of goods.
SC is mainly engaged in s manufacturing & selling diesel engines,
generators, water pumps sets, etc.
Xiong Jie is legal representative and chairman of SC at present.
SC is known to have approx. 218 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 Chongqing. SC’s employee refused to release the detailed information
of the premise.
http://www.cncameo.com/ The design is professional and the content is
well organized. At present it is in Chinese version.
Email: cncameo@cncameo.com
SC has passed ISO9001:2000 certification and the test of Thai Industrial
Standard from Thai Industrial Standards Institute and Ministry of Industry of
Thailand.
SC’s well-known brand "CAMEO" gained the honor of "Best Export
Brands of Chongqing for Priority Cultivation and Development in 2006-2007 from
Chongqing Municipal Government.
No significant changes were found during our checks with the local AIC.
Organization Code: 742853256
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount
(CNY’0000) % of Shareholding
Chongqing Yangtze River Modeling Material (Group) Co., Ltd. 601.704 83.57
Shu Huizong 118.296 16.43
Chongqing Yangtze River Modeling Material (Group) Co., Ltd.
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Registration no.: 500109000003198
Legal representative: Xiong Ying
Incorporation date: 1979-8-10
http://www.ccrmm.com.cn/ (the website is under
maintenance at present)
Legal
representative and chairman:
Xiong Jie is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
General
manager:
Shu Huizong is currently responsible for the daily management
of SC.
Working Experience(s):
At present Working in SC as general
manager.
Supervisor:
Wang Jun
SC is mainly engaged in s manufacturing & selling diesel engines,
generators, water pumps sets, etc.
SC’s products mainly include:
Water Cooled Diesel Engine
Air Cooled Diesel Engine
Hand Tractor
Power Tiller
Water Pump
High Pressure Water Pump
Generator
Etc.
SC sources its materials 90% from domestic market, and 10% from overseas
market. SC sells 30% of its products in domestic market, and 70% 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 refused to release its main suppliers and clients.
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TRADEMARKS & PATENTS |
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Registration No. |
5854207 |
13402273 |
5138767 |
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Registration Date |
Oct. 21, 2009 |
Jan. 21, 2015 |
Jan. 14, 2009 |
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Trademark Design |
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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.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 13 years operation
history. Taking into consideration of SC’s development history and operation
size we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.57 |
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1 |
Rs.100.30 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SHG |
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.