MIRA INFORM REPORT
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Report No. : |
346436 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TEAMS ENGINEERING (BEIJING) CO., LTD. |
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Registered Office : |
18th Floor, North Wing, Tower B, Xinzhongguan Building No. 19 Zhongguancun Avenue, Haidian District |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
24.05.2010 |
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Com. Reg. No.: |
110108012894518 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in international engineering
contracting, international trade, engineering consultation |
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No. of Employees : |
70 |
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
|
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
TEAMS ENGINEERING
(BEIJING) CO., LTD.
18TH FLOOR, NORTH WING, TOWER B, XINZHONGGUAN BUILDING
NO. 19 ZHONGGUANCUN AVENUE, HAIDIAN DISTRICT
BEIJING 100080 PR CHINA
TEL: 86 (0) 10-59851118
FAX: 86 (0) 10-59851117
***Note: The (Glamor Intl
Centre 805 Block C No 116 Zizhuyuan Road Haidain District Beijing) was SC’s
former one, while SC is operating in the heading address.
EXECUTIVE
SUMMARY
Date of Registration :
may 24, 2010
REGISTRATION NO. :
110108012894518
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
wang weigang (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
cny 20,000,000
staff :
70
BUSINESS CATEGORY :
ENGINEERING SERVICE & trading
Revenue :
CNY 300,540,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 41,670,000 (AS OF DEC. 31, 2014)
WEBSITE : www.teamsbj.com
E-MAIL :
teams@teamsbj.com
PAYMENT :
NO COMPLAINTS
MARKET CONDITION :
average
FINANCIAL CONDITION :
fairly stable
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION :
average
EXCHANGE RATE :
CNY 6.35 = 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.:
110108012894518 on May 24, 2010.
SC’s Organization Code Certificate No.: 55480853-8
%20CO.,%20LTD%20-%20346436%2024-Oct-2015_files/image002.jpg)
SC’s Tax No.: 110108554808538
SC’s registered capital: cny
20,000,000
SC’s paid-in capital: cny 20,000,000
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 |
|
Zhejiang Teams International Economic & Technical
Cooperation Co., Ltd. |
60 |
|
Beijing Anshikai Investment & Management Co., Ltd. |
40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Wang Weigang |
|
Vice Chairman and General Manager |
Zhang Xin |
|
Director |
Ni Guoming |
|
Lv Ping |
|
|
Dong Dazhi |
|
|
Supervisor |
Liu Jianfeng |
RECENT
DEVELOPMENT
No
recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Zhejiang
Teams International Economic & Technical Cooperation Co., Ltd. 60
Beijing
Anshikai Investment & Management Co., Ltd. 40
Zhejiang
Teams International Economic & Technical Cooperation Co., Ltd.
------------------------------------------------------------------------------------------------
Registration
No.: 330206000012471
Date
of Registration: February 16, 1996
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 30,000,000
Legal
Representative: Wang Weigang
Web:
www.teams-intl.com
Beijing
Anshikai Investment & Management Co., Ltd.
-----------------------------------------------------------------------
Registration
No.: 110108011619905
Date
of Registration: February 10, 2009
Legal
Form: Limited Liabilities Company
Registered
Capital: CNY 2,000,000
Legal
Representative: Zhang Xin
MANAGEMENT
Wang Weigang, Legal Representative and Chairman
-------------------------------------------------------------------------------
Gender:
M
Age:
53
ID#
330203196208180914
Working
experience (s):
At
present, working in SC as legal representative and chairman
Also
working in Zhejiang Teams International Economic & Technical Cooperation
Co., Ltd. as legal representative
Zhang Xin , Vice Chairman
and General Manager
-------------------------------------------------------------------------
Gender:
M
Qualification:
University
Working
experience (s):
At
present, working in SC as vice chairman and general manager
Also
working in Beijing Anshikai Investment & Management Co., Ltd. as legal
representative
Director
----------
Ni
Guoming
Lv
Ping
Dong
Dazhi
Supervisor
--------------
Liu
Jianfeng
BUSINESS
OPERATION
SC’s registered business scope includes wholesaling pre-packaged
food; technology development, technology transfer, technology development, technology
consultation, and technology services; selling machinery, electronics and
fertilizer; importing and exporting commodities.
SC
is mainly engaged in international engineering contracting, international
trade, engineering consultation.
SC’s
services mainly include:
International
engineering contracting
International
trade
Engineering
consultation
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. 70 staff
at present.
SC
rents an area as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC
is not known to have any subsidiary at present.
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
Balance Sheet
|
Unit: CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
38,730 |
7,170 |
|
|
Accounts receivable |
9,230 |
5,380 |
|
Other receivable |
2,030 |
2,240 |
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Inventory |
23,060 |
15,630 |
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Other current assets |
24,160 |
115,890 |
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|
------------------ |
------------------ |
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Current assets |
97,210 |
146,310 |
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Fixed assets |
53,960 |
52,510 |
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Other non-current assets |
60 |
0 |
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|
------------------ |
------------------ |
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Total assets |
151,230 |
198,820 |
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|
============= |
============= |
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Short-term loans |
150 |
0 |
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Accounts payable |
8,440 |
33,870 |
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Advances from clients |
110,750 |
113,970 |
|
Other payable |
8,230 |
1,980 |
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Other current liabilities |
-5,400 |
7,330 |
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------------------ |
------------------ |
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Current liabilities |
122,170 |
157,150 |
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Non-current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
122,170 |
157,150 |
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Equities |
29,060 |
41,670 |
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|
------------------ |
------------------ |
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Total liabilities & equities |
151,230 |
198,820 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
Revenue |
127,350 |
300,540 |
|
Cost of sales |
118,230 |
238,030 |
|
Profit before tax |
9,140 |
16,940 |
|
Less: profit tax |
2,320 |
4,300 |
|
6,820 |
12,640 |
Important Ratios
=============
|
|
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
*Current ratio |
0.80 |
0.93 |
|
*Quick ratio |
0.61 |
0.83 |
|
*Liabilities to assets |
0.81 |
0.79 |
|
*Net profit margin (%) |
5.36 |
4.21 |
|
*Return on total assets (%) |
4.51 |
6.36 |
|
*Inventory / Revenue ×365 |
67 days |
19 days |
|
*Accounts receivable/ Revenue ×365 |
27 days |
7 days |
|
*Revenue/Total assets |
0.84 |
1.51 |
|
*Cost of sales / Revenue |
0.93 |
0.79 |
FINANCIAL
COMMENTS
PROFITABILITY: AVERAGE
The
revenue of SC appears fairly good in its line.
SC’s
net profit margin is average.
SC’s
return on total assets is average.
SC’s
cost of sales is average in 2014, comparing with its revenue.
LIQUIDITY: AVERAGE
The
current ratio of SC is maintained in a fair level.
SC’s
quick ratio is maintained in a normal level in 2014.
The
inventory of SC is maintained in an average level.
The
accounts receivable of SC is maintained in an average level.
SC
has no short-term loans in 2014.
SC’s
revenue is in an average level in 2014, 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.
CONCLUSIONS
SC
is considered medium-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
UK Pound |
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
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|
Report Prepared
by : |
TRU |
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 |
|
|
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 |
-- |
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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.