MIRA INFORM REPORT
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Report No. : |
347663 |
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Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG DESIGNER MACHINERY CO., LTD. |
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Registered Office : |
No. 28, Anju Road, Shengping Industrial Zone, Shantou, Guangdong Province,
515061 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.06.1993 |
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Com. Reg. No.: |
440508000002291 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in manufacturing, processing and selling of plastic
machines. |
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No. of Employee : |
214 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. 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 for the first time in
modern history. Still, China's per capita income is below the world average.
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
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.
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 also implemented several economic
reforms in 2014, including passing legislation to allow local governments to
issue bonds, opening several state-owned enterprises to further private
investment, loosening the one-child policy, passing harsher pollution fines,
and cutting administrative red tape.
|
Source
: CIA |
Company
name and address
GUANGDONG DESIGNER MACHINERY Co., Ltd.
no. 28, anju road,
shengping industrial zone, shantou,
guangdong PROVINCE, 515061 PR CHINA
TEL: 86 (0)
754-82528080/82515587 FAX: 86 (0)
754-82518867
EXECUTIVE
SUMMARY
INCORPORATION DATE :
JUN. 18, 1993
REGISTRATION NO. : 440508000002291
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 214
REGISTERED CAPITAL : CNY 37,500,000
BUSINESS LINE :
MANUFACTURING, PROCESSING & SELLING
TURNOVER : CNY 157,270,000
(AS OF DEC. 31, 2014)
EQUITIES : CNY 191,250,000
(AS OF DEC. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3365 = 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 Jun. 18, 1993.
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 processing and manufacturing of food processing machinery,
printing machinery, packaging machinery, plastic machinery, electrical
machinery, plastic products; sales of instrumentation, general merchandise,
toys, building materials, metal materials, plastic raw materials, plastic
accessories; processing, manufacturing of cultural office supplies
manufacturing equipment, mold; import and export goods and technology (with
permit if needed)
SC is mainly
engaged in manufacturing, processing and selling of plastic machines.
Mr. Luo Qingqing
is legal representative, executive director and manager of SC at present.
SC is known
to have approx. 214 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 Shantou. Detailed
information of the premise is unspecified.
http://www.dcdesigner.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: tzl@dcdesigner.com;
dcdsz888@163.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization Code: 27991831X
Credibility Code: 9144051127991831X8
Honors
======
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Luo Qingshan 6.4
Wan Songzhou 6.4
Shantou Liantai Investment Co., Ltd. (Literal translation) 16
Guangdong Tai’an
Real Estate Group Co., Ltd. (Literal translation) 20
Luo Qingqing 51.2
Guangdong Tai’an Real Estate Group Co., Ltd.
(Literal translation)
-------------------------------------------------
Registration No.: 440506000002776
Legal representative: Zheng Banghong
Incorporation Date:
Shantou Liantai Investment Co., Ltd.
(Literal translation)
------------------------------------------------
Registration No.: 440506000005523
Legal representative: Huang Wanru
Incorporation Date:
l Legal
Representative, Executive Director and Manager:
Mr. Luo Qingqing is currently responsible for the overall and
daily management of SC.
Working
Experience(s):
At present Working in SC as legal
representative, executive director and manager;
Also working in Shantou Runxin Precision Machine Co., Ltd. (Literal
translation), Shantou Designer Environmental Protection Precision Machine
Technology Co., Ltd. (Literal translation) and Dalian Designer Environmental
Protection Machinery Co., Ltd. (Literal translation) as legal representative
and executive director.
l Supervisor:
SC is mainly
engaged in manufacturing, processing and selling of plastic machines.
SC’s products mainly include: PET/PLA Twin-screw Extruder, PET
Co-Extruding Machine,
automatic cups production line, thermoforming machine with
vacuum stacker, multi-position thermoforming machine and thermoforming machine
with punching machine
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’s management declined to release its major clients and suppliers.
Registration No. 1145026
Registration Date
Trademark Design 
SC is known to invest in
the following companies:
Shantou Runxin Precision Machine Co., Ltd. (Literal translation)
-----------------------------------------------
Registration No.: 440506000005496
Incorporation Date:
Legal representative: Luo Qingqing
-----------------------------------------------
Registration No.: 440506000005566
Incorporation Date:
Legal representative: Luo Qingqing
Dalian Designer Environmental Protection Machinery
Co., Ltd. (Literal translation)
-----------------------------------------------
Registration No.: 210241000135684
Incorporation Date:
Legal representative: Luo Qingqing
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 declined to
release its bank details.
Financial
Summary
Unit: CNY’000
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As
of Dec. 31, 2014 |
As
of Dec. 31, 2013 |
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Total liabilities |
91,230 |
82,890 |
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Equities |
191,250 |
168,820 |
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-------------------- |
-------------------- |
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Total assets |
282,480 |
251,710 |
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============= |
============= |
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Turnover |
157,270 |
129,530 |
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Profit before tax |
24,750 |
22,960 |
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Less: profit tax |
3,720 |
3,480 |
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Profits |
21,030 |
19,480 |
Note: SC’s
management refused to release the detail financial reports for Yr 2013 &
2014.
Important
Ratios
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As
of Dec. 31, 2014 |
As
of Dec. 31, 2013 |
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*Liabilities
to assets |
0.32 |
0.33 |
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*Net profit
margin (%) |
13.37 |
15.04 |
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*Return on
total assets (%) |
7.44 |
7.74 |
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*Turnover/Total
assets |
0.56 |
0.51 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in its line
in both years.
l
SC’s net profit margin is good.
l
SC’s return on total assets is fairly good.
l
SC’s turnover is fair, comparing with the size of
its total assets.
LEVERAGE: FAIRLY GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
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|
1 |
Rs.100.96 |
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Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
-- |
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.