MIRA INFORM REPORT
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Report No. : |
346506 |
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Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
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Name : |
GUIZHOU
CHALCO ALUMINUM CO., LTD. |
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Registered Office : |
Yunhuan East Road, Baiyun District, Guiyang City, Guizhou Province 550014 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
24.01.2011 |
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Com. Reg. No.: |
520113000070353 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is mainly engaged in manufacturing
and selling of aluminum products. |
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No. of Employees : |
2,000 |
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.
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Source
: CIA |
Company
Name and address
GUIZHOU CHALCO ALUMINUM CO., LTD.
YUNHUAN EAST ROAD, BAIYUN
DISTRICT, GUIYANG CITY
GUIZHOU PROVINCE 550014 PR CHINA
TEL: 86 (0) 851-84103587
FAX: 86 (0) 851-84103587
EXECUTIVE
SUMMARY
Date
of Registration :
january 24, 2011
REGISTRATION
NO. :
520113000070353
LEGAL
FORM : Limited Liability Company
REGISTERED
CAPITAL : CNY 32,000,000
staff :
2,000
BUSINESS
CATEGORY : TRADING
Revenue :
N/A (AS OF DEC. 31, 2014)
EQUITIES :
CNY 326,194,000 (AS OF DEC. 31, 2014)
WEBSITE : www.gzchalco.com
E-MAIL :
gzchalco@gzchalco.com
PAYMENT
:
AVERAGE
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : stable
OPERATIONAL
TREND : fairly STEADY
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.: 520113000070353
on January 24, 2011.
SC’s Organization Code Certificate No.: 56920265-1
SC’s registered capital: CNY 32,000,000
SC’s paid-in capital: CNY 32,000,000
Registration
Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2015-6-12 |
Legal Representative |
Chen Jun |
Zhang Rong |
Current Co
search indicates SC’s shareholders & chief executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
CNMC International Trade Ltd. |
12.5 |
|
Aluminum Corporation of China |
40 |
|
Guiyang Industry Investment (Group) Co., Ltd. |
47.5 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Zhang Rong |
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General Manager |
Cai Haitao |
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Director |
Gao Shunqing |
|
Li Yun |
|
|
Jiang Le |
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Supervisor |
Yang Guang |
|
Ye Hua |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
CNMC International Trade Ltd. 12.5
Aluminum Corporation of China 40
Guiyang Industry Investment (Group) Co., Ltd. 47.5
CNMC International Trade Ltd.
--------------------------------------------
Date of
Registration: August 28, 2007
Registration No.:
100000000041118
Registered Capital:
CNY 118,009,592
Aluminum Corporation of China
---------------------------------------------
Date of
Registration: February 21, 2001
Registration No.:
100000000035025
Registered Capital:
CNY 19,701,051,000
Guiyang Industry Investment (Group) Co.,
Ltd.
--------------------------------------------------------------
Date of
Registration: May 15, 2009
Registration No.:
520100000002202
Registered Capital:
CNY 810,000,000
MANAGEMENT
Zhang Rong, Legal
Representative and Chairman
-------------------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Cai
Haitao, General Manager
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Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manager,
also working in Guizhou CHALCO Import & Export Trading Co., Ltd. as legal
representative
Director
-----------
Gao Shunqing
Li Yun
Jiang Le
Supervisor
--------------
Yang Guang
Ye Hua
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing and selling aluminum and aluminum alloy sheet, strip, foil;
technology development of aluminum new product; importing and exporting
mechanical equipment.
SC is mainly engaged in manufacturing and
selling aluminum products.
SC’s products mainly include: aluminum
sheets and strips, aluminum foil, etc.
SC sources its materials 100% from domestic market, mainly Guangdong. SC sells 65% of its products in domestic market, and 35% to overseas market, mainly U.S.A., Europe, Mid East, Southeast Asia, etc.
The buying terms of SC include Check, T/T
and Credit of 30-60 days. The payment terms of SC include T/T, L/C and Credit
of 30-60 days.
Staff
& Office:
--------------------------
SC is known to have approx. 2,000 staff at present.
SC owns an area as its operating office and
factory, but the detailed information is unknown.
RELATED COMPANY
SC
is known to have a subsidiary at present,
Guizhou CHALCO Import & Export Trading Co.,
Ltd.
---------------------------------------
Date of
Registration: May 15, 2009
Registration No.:
520100000002202
Registered Capital:
CNY 810,000,000
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
Basic Bank:
China
Construction Bank Guiyang Jinyang Sub-branch
AC#:
52001463600052505696
FINANCIALS
Financial Summary
|
Unit:
CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total assets |
664,396 |
832,163 |
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------------- |
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Total
liabilities |
309,562 |
505,969 |
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Equities |
354,834 |
326,194 |
Important Ratios
=============
|
|
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
*Liabilities to assets |
0.47 |
0.61 |
Overall financial condition of the SC:
Stable.
CONCLUSIONS
SC is considered
large-sized in its line with stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.