MIRA INFORM REPORT
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Report No. : |
340045 |
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Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
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Name : |
guangzhou metals & minerals imp. & exp. ltd. |
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Registered Office : |
21/F, Jinxin Building, No. 691, North Renmin Road, Guangzhou, City, Guangdong Province 510180 Pr China |
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Country : |
China |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
24.09.1986 |
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Com. Reg. No.: |
440101000071634 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in importing and exporting hardware and minerals |
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No. of Employee : |
45 |
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
guangzhou metals & minerals imp. & exp. ltd.
21/F, JINXIN BUILDING, NO. 691, NORTH RENMIN ROAD, GUANGZHOU CITY, GUANGDONG PROVINCE 510180 PR CHINA
TEL: 86 (0)
20-81080522/88901330 FAX: 86 (0)
20-81080512/81089977
EXECUTIVE
SUMMARY
INCORPORATION DATE : sep. 24, 1986
REGISTRATION NO. : 440101000071634
REGISTERED LEGAL FORM : One-person limited liability company
CHIEF EXECUTIVE :
Mr. zhou you (chairman)
STAFF STRENGTH :
45
REGISTERED CAPITAL : cny 3,500,000
BUSINESS LINE :
trading
TURNOVER :
cny 548,510,000 (Jan. 1 to June 30,
2014)
EQUITIES :
CNY 8,160,000 (AS OF june 30, 2014)
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.40= USd 1 AS OF
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available CNY - China Yuan Ren Min Bi
SC was registered as a One-person Limited
Liability Company at local Administration for Industry & Commerce(AIC-The
official body of issuing and renewing business license).
Company Status:
One-person Limited Liability Company
Single person LLC refers to a limited liability company set up by only
one natural person or legal person as the single shareholder of it.
The minimum registered capital of Single person LLC is CNY100,000. The
shareholder’s capital contributes, as set out by the articles of associations
should be a lump-sum payment in full.
One natural person can only invest in and set up one limited liability
company, which is not permitted to invest in and set up a new Single person
LLC.
As to any one-person limited liability company, the sole-investor nature
of the natural person or legal person shall be indicated in the registration
documents of the company and shall be indicated in the business license thereof
as well.
The regulation of Single person LLC should be set up by the shareholder
The regulation of Single person LLC has no shareholder meeting.
The shareholders of this form of limited liabilities company are
State-owned Assets Supervision and Administration Commission authorized by the
State Council or local Municipal Government.
The regulation is set up by State-owned Assets Supervision and
Administration Commission, or by the board of directors after approval of
State-owned Assets Supervision and Administration Commission.
Sole state-owned enterprise does not set up board of shareholders, which
is replaced by State-owned Assets Supervision and Administration
Commission.
State-owned Assets Supervision and Administration Commission assign the
board of directors.
SC’s registered
business scope includes importing and exporting metal products and materials,
non-golden mine, industrial agricultural implements, feedstuff, native
materials used for industry, animal products, textiles, textile fibers, cotton
waste, knit goods, garment, light industry products, porcelain, handicrafts,
chemical, plastic and rubber products, transportation tools, machinery,
apparatus and instruments; import and export of the above products; carrying
trade, storage and Free Trade business. Affecting Chinese foreign equity joint
venture enterprise and Chinese foreign contractual joint venture enterprise;
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement.
SC is mainly
engaged in importing and exporting hardware and minerals.
Mr. Zhou You is legal representative, chairman and general
manager of SC at present.
SC is known
to have approx. 45 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Guangzhou. Our checks reveal that SC
owns the total premise about 1,400 square meters.
http://www.gzmmie.com/
The design is professional and the content is well organized. At present it is
in English version.
E-mail: zhangxm@gzmmie.com
From 1993, SC has been listed in "The Top 500 Chinese Import &
Export Enterprises".
In 2001, it got certificate of ISO 9001:2000 international quality
control system.
Since 2002, it was awarded as the enterprise "Abiding by the
contract and keeping promises" for successive five years by the Industrial
and Commercial Administrative Management Department.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the
change |
After the change |
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1999-7-29 |
Legal rep. |
Zhu Guoshu |
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2003-5-15 |
Registered capital |
CNY 3,500,000 |
CNY 3,000,000 |
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2003-12-16 |
Legal rep. |
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Ling Suilin |
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2010-3-22 |
Legal rep. |
Ling Suilin |
Lin Xiaohua |
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Registration no. |
4401011102414 |
Present one |
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Legal form |
Sole state-owned
enterprise |
Present one |
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2011-12-19 |
Registered capital |
CNY 3,000,000 |
Present amount |
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Shareholders |
Guangzhou Light
Industry & Trade Group Co., Ltd. |
Guangzhou Light
Holdings Limited |
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Unknown |
Legal rep. |
Lin Xiaohua |
Present one |
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Note: SC’s shareholder changed its Chinese name with the same English
name.
Organization code: 190472630
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Guangzhou Light Holdings Limited 100
Established in 1956, Guangzhou Light Holdings Limited has been standing
by the prosperous & beautiful Pearl River for over half century. As one of
the earliest professional Import & Export Companies in China, GZLI has
become an International Trade Group Company which combined with Import &
Export Trade, Domestic Trade, Warehousing & Logistics. Also, GZLI is one of
the Advanced Companies for high quality and effectiveness in Chinese
International Business, one of the best 500 Import & Export Companies in
China, one of the best 100 Import & Export Companies in Guangdong.
Note: The said co. was formerly known as Guangzhou Light Industrial
Products Import & Export (Group) Corporation
Reg. No.: 440101000173575
Legal representative: Lu Yegan
Incorporation date: June 1, 1967
Add: No. 145-1 Yanjiang West RD., Guangzhou
China
Tel: 86-20-83337522
Fax: 86-20-83337697
Web: www.gzli.com
E-mail: gzli@gzli.com
l Legal
representative, Chairman & General Manager:
Mr. Zhou You
is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager
l Directors:
He Weixiong
Feng Fan
l Supervisors:
Chen Yun
SC is mainly
engaged in importing and exporting hardware and minerals.
SC’s products mainly include: bathroom
equipment, sanitary fittings, battery, hardware, building material, metal
materials and mineral products.
Trademark & Patents
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Registration No. |
7974075 |
7812331 |
7663689 |
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Registration Date |
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Trademark Design |
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SC sources its materials 70% from domestic market, and 30% from overseas market; SC sells its products 90% to overseas market, mainly European countries, and 10% in domestic market, mainly Guangdong province.
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 major suppliers and clients.
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.
Bank of China
Changdi Sub-Branch
Account No.: N/A
Relationship:
Normal
Financial Summary
Unit: CNY’000
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as of June 30, 2014 |
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Total assets |
276,960 |
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Total
liabilities |
268,800 |
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Equities |
8,160 |
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Jan.
1 to June 30, 2014 |
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Turnover |
548,510 |
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Cost of goods
sold |
539,500 |
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Profits |
2,360 |
Note: SC refused to
release its latest financial information.
Important Ratios
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as
of June 30, 2014 |
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*Liabilities
to assets |
0.97 |
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*Net profit
margin (%) |
0.43 |
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*Return on
total assets (%) |
0.85 |
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*Turnover/Total
assets |
1.98 |
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* Cost of goods
sold/Turnover |
0.98 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is high, comparing with its
turnover.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
l
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with favorable background and
fairly stable financial conditions. Taking into consideration of SC’s general
performance and operation size.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.58 |
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1 |
Rs.102.29 |
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Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
ASH |
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.