MIRA INFORM REPORT

Report No. :	483637
Report Date :	03.01.2018

IDENTIFICATION DETAILS

Name :	NINGBO KETIAN MAGNET CO., LTD
Registered Office :	Outside West Gate, Cicheng Town, Jiangbei District
Country :	China
Financials (as on) :	31.12.2016
Date of Incorporation :	14.02.2001
Unified Social Credit Code :	91330200726394125Q
Legal Form :	Limited Liabilities Company
Line of Business :	· Manufacture, processing and sales of magnetic materials, parts; · R&D of rare earth materials and products; · Wholesale and retail of metal and its products; · Wholesale and retail of rare earth materials and magnetic components; · Magnetic energy test, mechanical performance test, environmental test test, chemical analysis of metal materials; · Self-running and agency of importing and exporting all kinds of commodities and technology, excluding the goods and technology forbidden to be exported by the government, excluding the goods and technology forbidden to be exported by the government.
No. of Employees :	400

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
China	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state-support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.

After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, 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 liberalization. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi (RMB) after the currency was accepted as part of the IMF’s special drawing rights basket. After engaging in one-way, large-scale intervention to resist appreciation of the RMB for a decade, China’s 2016 intervention in foreign exchange markets has sought to prevent a rapid RMB depreciation that would have negative consequences for the United States, China, and the global economy.

China’s economic growth has slowed since 2011. The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) servicing its high corporate debt burdens to maintain financial stability; (c) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (d) dampening speculative investment in the real estate sector; (e) reducing industrial overcapacity; and (f) raising productivity growth rates through the more efficient allocation of capital. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.

The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. Under President XI Jinping, Beijing has signaled its understanding that China's long-term economic health depends on giving the market a more decisive role in allocating resources, but has moved slowly on market-oriented reforms because of potential negative consequences for stability and short-term economic growth. He has also increased state-control over key sectors and Party control over state-owned enterprises. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time.

Source : CIA

INVESTIGATION RECORD

Name of Interviewee	Mr. Li
Tel	(86 574) 87574923
Investigation Way	Telephone

ORDER DETAILS & INVESTIGATION RESULTS

-	Order Information	Verification
Name(English)	NINGBO KETIAN MAGNET CO., LTD.	Correct
Address (English)	NO 1, CHENGXI WEST ROAD, CICHENG NINGBO 315034	Correct

BASIC INFORMATION

Name (English)	NINGBO KETIAN MAGNET CO., LTD. (Given by Official Sources)
Unified Social Credit Code	91330200726394125Q
AIC registration No.	330200000012035
National Organization Code	726394125
Company Status	Operational
Executive	Fu Wancheng
Registered Capital	CNY 90,000,000.00
Date of Establishment	2001-02-14
Employee	400 (2018-01-02)
Website	www.ktmagnet.com
Company Size	Large
SIC (China)	3391, Production of Forgings & Sintered Metal Products
Import and Export Enterprise Code	3302726394125
Import/Export Permit	Yes
Judicial	12

CONTACTS

Tel	(86 574)87574923
Fax	(86 574)87597123
Address	No. 1, Chengxi West Road, Cicheng Town, Ninghai County, Ningbo City, Zhejiang Province(Office; Storage; Plant)
Address Post code	315034
Ownership	-

GENERAL COMMENTS

RISK ANALYSIS

Established in Feb. 2001 with registered capital of CNY 90,000,000.00, SC is mainly engaged in manufacture and sales business of magnetic materials. With a long history, the company has accumulated rich industrial experience, and it enjoys certain popularity and influence in the industry. Currently, the company's business scale is large and its shareholder with strong strength can provide good fund, technology, and sales channel support for SC.

According to SC's current financial information, the company's operating income of 2016 decreased by 3.60% over that of 2015, indicating its business development condition is not good. SC has high net profit margin in 2016, reflecting its profitability is good. The company's high account payable in recent two years shows it occupies partial capital of its suppliers, which is good for its assets turnover. SC's turnover of account receivable in 2016 is low, reflecting its account recovery is low. As a whole, the company's liabilities to assets ratio in 2015 and 2016 is at low level, indicating its long-term solvency is good. The company's current ratio and quick ratio show its short-term solvency is good.

REGISTRATION INFORMATION

Unified Social Credit Code	91330200726394125Q
AIC registration No.	330200000012035
Date of Establishment	2001-02-14
Registered Address	Outside West Gate, Cicheng Town, Jiangbei District
Registry	Market Supervision Administration - Ningbo City
Legal Representative	Fu Wancheng
Legal Form	Limited Liabilities Company
Registered Capital	CNY 90,000,000.00
Paid-in Capital	CNY 90,000,000.00
Latest Year of Annual Report	2015
Operation duration	Perpetual
Business Scope	Manufacture, processing and sales of magnetic materials, parts; R&D of rare earth materials and products; Wholesale and retail of metal and its products; Wholesale and retail of rare earth materials and magnetic components; Magnetic energy test, mechanical performance test, environmental test test, chemical analysis of metal materials; Self-running and agency of importing and exporting all kinds of commodities and technology, excluding the goods and technology forbidden to be exported by the government, excluding the goods and technology forbidden to be exported by the government.

REGISTRATION CHANGES

-	Date	Item Changed	From	To
1	2017-10-10	Legal representative	Xu Zirong	Fu Wancheng
2	2015-07-01	Legal representative	Zheng Meilan	Xu Zirong
3	2015-06-02	Legal representative	Ni Jianhao	Zheng Meilan
4	2011-04-28	Registered capital	CNY50,000,000.00	CNY90,000,000.00
5	2008-06-05	Registered capital	CNY5,000,000.00	CNY50,000,000.00
6	2007-11-21	Legal representative	Lou Guojun	Ni Jianhao

SHAREHOLDER INFORMATION

-	Name	% Ownership	Capital Contributed	Currency	Investment Way	Paid-in %	Country
1	NINGBO JINTIAN COPPER (GROUP) CO., LTD.	100.00	90,000,000.00	CNY	Capital	100	China
Total		100.0	90,000,000

ENTITY SHAREHOLDER

Name (English)	NINGBO JINTIAN COPPER (GROUP) CO., LTD.
Country	China
Legal Representative	Lou Guoqiang
Registration No.	330200000017076
Unified Social Credit Code	91330200144229592C
Date of Establishment	1992-06-20
Legal Form	Shares Limited Company (Unlisted)
Registered Capital	CNY 1,214,969,000.00
Status	Operational
Registered Address	No. 1, Chengxi West Road, Cicheng Town, Jiangbei District

ULTIMATE HOLDING

-	Ultimate Shareholder	Investment Way
1	Lu Xiaomi	Capital

English Name	Lu Xiaomi
Country	China
Type	Natural person shareholder
Investment Way	Capital
Note	Lu Xiaomi -->50.79% Ningbo Jintian Investment Holdings Co., Ltd. -->33.79% NINGBO JINTIAN COPPER (GROUP) CO., LTD. -->100% NINGBO KETIAN MAGNET CO., LTD.

BRANCHES

No branch information of subject is searched from database.

INVESTMENT IN OTHER COMPANIES

No investment information of subject is searched from database.

MANAGEMENT

LEGAL REPRESENTATIVE

Name	Fu Wancheng
Position	Executive Director; General Manager

INVOLVEMENT IN OTHER COMPANIES

No other involvement information of subject's legal representative is searched from database.

MANAGEMENT

-	Name	Position	Gender
1	Fu Wancheng	Executive Director; General Manager	-

DIRECTORS AND SUPERVISORS

-	Name	Position	Gender
1	Fu Wancheng	Executive Director; General Manager	-
2	Zheng Dundun	Supervisor	-

JUDICIAL INFORMATION

DEFAULT EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

SUBJECT AS EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

CIVIL & COMMERCIAL TRIAL PROCESS

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2014) ZHE Yong Zhi Chu Zi 00579
Position	Plaintiff
Hearing Court	Intermediate People’s Court of Ningbo City
Date Type	Trial Date
Date	2017-03-10
Cause	Abuse of market dominance disputes

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2014) ZHE Yong Zhi Chu Zi 00579
Hearing Court	Intermediate People’s Court of Ningbo City
Date Type	Trial Date
Date	2015-09-21
Cause	Abuse of market dominance disputes

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2015) YONG Bei Ci Shang Chu Zi 00239
Hearing Court	People's Court of Jiangbei District, Ningbo City, Zhejiang Province
Date Type	Trial Date
Date	2015-09-21
Cause	Business contract dispute

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2015) YONG Bei Ci Shang Chu Zi 00239
Position	Plaintiff
Hearing Court	People's Court of Jiangbei District, Ningbo City, Zhejiang Province
Date Type	Filing Date
Date	2015-08-31

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2015) YONG Bei Ci Shang Chu Zi 00239
Position	Plaintiff
Hearing Court	People’s Court of Jiangbei District, Ningbo City
Date Type	Filing Date
Date	2015-08-31

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2015) ZHE Xia Zhong Zi 00137
Position	Appellee
Hearing Court	High People's Court of Zhejiang Province
Date Type	Filing Date
Date	2015-07-16

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2011) ZHE Yong Min Yi Zhong Zi 00332
Position	Appellee
Hearing Court	Intermediate People’s Court of Ningbo City, Zhejiang Province
Date Type	Trial Date
Date	2011-05-12
Cause	Property damage compensation dispute

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2009) ZHE Yong Xia Zhong Zi 00103
Position	Appellor
Hearing Court	Intermediate People’s Court of Ningbo City, Zhejiang Province
Date Type	Filing Date
Date	2009-05-04

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2003) YONG Min San Zhong Zi 00253
Position	Appellor
Hearing Court	Intermediate People’s Court of Ningbo City, Zhejiang Province
Date Type	Trial Date
Date	2003-05-25
Cause	Business contract dispute

CIVIL & COMMERCIAL JUDGMENT DOCUMENT

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2015) ZHE Xia Zhong Zi 137
Hearing Court	High People's Court of Zhejiang Province
Court Type	High People's Court
Cause of Action	Abuse of market dominance disputes
Value	0
Position	Appellee
Date of Closing	2015-07-20

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2014) ZHE Yong Zhi Chu Zi 579－1
Hearing Court	Intermediate People’s Court of Ningbo City, Zhejiang Province
Court Type	Intermediate People's Court
Cause of Action	Abuse of market dominance disputes
Value	0
Position	Plaintiff
Date of Closing	2015-04-23

Name	NINGBO KETIAN MAGNET CO., LTD.
Government ID. / AIC Registration No.	91330200726394125q
File No.	(2009) YONG Bei Shang Chu Zi 16
Hearing Court	People's Court of Jiangbei District, Ningbo City, Zhejiang Province
Court Type	Basic People's Court
Cause of Action	Business contract dispute
Plaintiff	NINGBO KETIAN MAGNET CO., LTD.
Defendant	Jinhua Licheng Electric Vehicle Accessories Co., Ltd.,Wang Shuanglin (王双林)
Value	129,122.0000
Position	Plaintiff
Date of Closing	2009-07-20

ADMINISTRATIVE ILLEGAL RECORDS

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

OPERATION & TRENDS

MAIN BUSINESS

Main Business	Manufacture and sales of magnetic materials.
Products & Service	SC is mainly engaged in manufacture and sales of magnetic materials. Its products include sintered Nd-Fe-B of various specifications which are widely applied to auto parts, motor, electrical equipment, IT, medical equipment and other fields.
OTHER INFORMATION	SC has got ISO9001:2008, ISO/TS16949:2009, ISO14001:2004, OHSAS18001:2007 Occupation Health Safety Management System and other certifications.

OPERATION FACILITIES

Business Address	No. 1, Chengxi West Road, Cicheng Town, Ninghai County, Ningbo City, Zhejiang Province(Office; Storage; Plant)
Tel	(86 574)87574923
Fax	(86 574)87597123
Post code	315034
Environment	Suburb area
Ownership	-
Traffic Condition	Relatively convenient

SALES INFORMATION

Region	Products		Customer Type	Number of Customers	Payment Terms	Region	Percentage
Domestic	Magnetic materials		Production enterprises and traders of auto parts, motor, electrical equipment, IT, medical devices and other fields	50	Prompt payment, advance payment, credit payment, etc.	All over China	40
International	Magnetic materials		Production enterprises and traders of auto parts, motor, electrical equipment, IT, medical devices and other fields	50	T/T, L/C, etc.	Europe, the United States, Taiwan and other countries and regions	60
OTHER INFORMATION		SC's sales business is developed in both domestic market and international market. Its products are mainly sold directly and some are sold by middleman. Its downstream customers are mainly production enterprises and traders of auto parts, motor, electrical equipment, IT, medical devices and other fields. Currently, the company has established stable cooperative relationship with some customers and its sales network is complete.

PURCHASE INFORMATION

Region	Main Products Purchased		Number of Suppliers	Payment Terms	Region	Percentage
Domestic	Rare earth metals, rare earth alloys and other raw materials, production equipment, office supplies, etc.		30	Prompt payment, advance payment, credit payment, etc.	East China, South China, etc.	80
International	Rare earth metals, rare earth alloys and other raw materials, production equipment, etc.		15	T/T, L/C, etc.	Germany and other countries and regions	20
OTHER INFORMATION		SC's purchasing business is developed in both domestic market and international market. Most materials and equipment are purchased from East China, South China, etc. Some are imported from Germany and other countries and regions. Currently, the company has established stable purchasing channels.

NOTE TO CREDIT RECORD

Note	SC’s staff was cautious and refused to disclose the suppliers’ names and purchasing information of the company due to business secrecy. The suppliers’ names are unavailable through public channels. Hence no payment records of subject can be provided in the report.

BANK INFORMATION

MORTGAGE

-	File No.	Mortgagee Name	Mortgagee Type	Mortgagor Name	Collateral
1	Yong Bei Gong Shang Deng Zi No. 200655	Industrial and Commercial Bank of China Ningbo Jiangbei Sub-branch	-	NINGBO KETIAN MAGNET CO., LTD.	-

File No.	Yong Bei Gong Shang Deng Zi No. 200655
Mortgagee Name	Industrial and Commercial Bank of China Ningbo Jiangbei Sub-branch
Mortgage Type	Chattel mortgage
Mortgagor Name	NINGBO KETIAN MAGNET CO., LTD.
Quantity, quality, condition, location, etc	2,949.2612
Type of Principal Debt	Loan
Principal Claim Amount	2,100
File Party	Administration Bureau of Industry and Commerce - Jiangbei District, Ningbo City

ELECTRICITY CONSUMPTION RECORD

No electricity consumption record of subject can be obtained as the electricity consumer may not be filed with subject's name.

QUALIFICATIONS

TRADEMARKS

-	Name	Image	Registration No.	International Classification	Country
1	COXMAG		4534714	9	China
2	COXMAG		3807088	9	China
3	COXMAG		3791080	9	China
4	COXMAG		3791081	7	China
5	COXMAG		3807089	7	China
6	COXMAG		3791079	12	China

PATENT

-	Patent Name	Patent Type	Status	Application No.	Application date	Classification	Publication No.
1	Cerium rare earth permanent magnet material and its preparation method	Invention	Approval Valid	CN201611190145.8	2016-12-21	H01F1/053(2006.01)I; C22C30/02(2006.01)I	CN106782969A
2	The method and equipment for improving the square degree and corrosion resistance of sintered ndfeb are improved	Invention	Approval Valid	CN201611191076.2	2016-12-21	H01F1/057(2006.01)I; B22F9/04(2006.01)I	CN106601402A
3	Sintered ndfeb magnet casting furnace	Patent for utility models	Approved	CN201621070941.3	2016-09-22	B22D11/06(2006.01)I	CN206028675U
4	After continuous processing, automatic continuous dispersion of ndfeb products	Patent for utility models	Approved	CN201620899225.X	2016-08-18	B65G47/28(2006.01)I	CN205952964U
5	A mixing tank with a mixing device	Patent for utility models	Approved	CN201620861181.1	2016-08-10	B01F7/00(2006.01)I	CN205948704U
6	A molded die head of a parallel magnetic ring	Patent for utility models	Approved	CN201520957200.6	2015-11-26	B22F3/03(2006.01)I	CN205165869U
7	A magnetic - free grinding fixture for nd-b magnets	Patent for utility models	Approved	CN201520914173.4	2015-11-17	B24B41/06(2012.01)I	CN205111580U
8	Movable copper roller automatic grinding device	Patent for utility models	Approved	CN201520872886.9	2015-11-04	B24B5/37(2006.01)I; B24B47/20(2006.01)I; B24B51/00(2006.01)I	CN205111477U
9	The method of preparing nd-ti-boron magnetic steel by using the nd-ti-bor-boron pneumatic abrasive is prepared	Invention	Approval Valid	CN201510684059.1	2015-10-20	C22C33/02(2006.01)I	CN105274417A
10	The high - coercive force sintering nd-fe-boron magnet and its preparation method	Invention	Approval Valid	CN201510429726.1	2015-07-21	H01F1/057(2006.01)I; H01F1/08(2006.01)I; H01F41/02(2006.01)I; B22F1/00(2006.01)I; B22F9/04(2006.01)I; C22C33/02(2006.01)I; C21D6/00(2006.01)I	CN106710765A
11	A preparation method and a device for reducing the magnetic deflection Angle of sintered ndfeb	Invention authorization	Approved	CN201410807225.8	2014-12-23	B22F1/00(2006.01)I; B22F3/16(2006.01)I; H01F1/057(2006.01)I	CN104493158B
12	Automatic removal of metal deposition equipment on conveyor belts	Patent for utility models	Cancelled to avoid duplication	CN201420699934.4	2014-11-20	B65G45/24(2006.01)I	CN204280618U
13	Automatic removal of metal equipment and removal methods on conveyor belt	Invention authorization	Approved	CN201410666740.9	2014-11-20	B65G45/24(2006.01)I	CN104386455B
14	High performance sintered ndfeb magnets and preparation methods	Invention authorization	Approved	CN201410519324.6	2014-09-30	H01F1/057(2006.01)I; H01F1/08(2006.01)I; H01F41/02(2006.01)I; B22F3/16(2006.01)I	CN104269238B
15	A manufacturing method for improving the magnetic energy of sintered ndfeb ferroboron	Invention	Approval Valid	CN201410372680.X	2014-07-31	H01F1/057(2006.01)I; H01F1/08(2006.01)I; H01F41/02(2006.01)I; B22F3/16(2006.01)I; B22F9/04(2006.01)I	CN104143403A
16	Magnetic sheet automatic discharge conveyor	Patent for utility models	Approved	CN201420419383.1	2014-07-29	B65G47/91(2006.01)I; B65G47/82(2006.01)I	CN204057222U
17	Magnetic sheet automatic discharge conveyor	Invention authorization	Approved	CN201410363082.6	2014-07-29	B65G47/91(2006.01)I; B65G47/82(2006.01)I	CN104150213B
18	The method to prevent the cracking of boron magnet in sintered ndfeb	Invention authorization	Approved	CN201310585772.1	2013-11-20	H01F41/02(2006.01)I; H01F1/057(2006.01)I; H01F1/08(2006.01)I; B22F3/16(2006.01)I	CN103594243B
19	To improve the manufacturing method of the coercive force of sintered nd-boron magnet	Invention authorization	Approved	CN201310497038.X	2013-10-22	B22F3/16(2006.01)I; B22F9/04(2006.01)I; B22D11/06(2006.01)I; H01F1/057(2006.01)I; H01F1/08(2006.01)I	CN103506626B
20	A method of reuse of nickel - plated - plated nd-b waste	Invention authorization	Approved	CN201310398566.X	2013-09-05	H01F1/057(2006.01)I; H01F1/08(2006.01)I	CN103426579B

Note: Maximum 20 records are showed for the client’s reference.

AUTHENTICATION INFORMATION

-	Certificate Category	Certificate No.	Issue Date	Expire Date	Status
1	Quality management system certification (ISO9000)	CN05/00213.04	2014-06-22	2017-05-09	Valid
2	Automobile industry quality management system certification	0129817	2011-11-15	2014-11-14	Valid
3	Automobile industry quality management system certification	0196134	2014-11-10	2017-11-09	effective
4	Automobile industry quality management system certification	0196136	2014-11-10	2017-11-09	effective
5	China occupational health and safety management system certification	CN13/21033.05	2016-05-04	2019-05-03	effective
6	Intellectual property management system	165IP150425R0M	2015-10-30	2018-10-29	effective

EXPORT/IMPORT PERMIT

EXPORT/IMPORT PERMIT

Yes

IMPORT / EXPORT DETAILS

2016 Importing Regions (USD 1,000)
Importing Regions	Import Volume
Germany	16
U.S.A	0
Korea	0
Indonesia	0

2016 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
Germany	4,112
Italy	2,799
Taiwan	2,337
India	1,919
U.S.A	1,857
Other	8,743

2016 Imported Products (USD 1,000)
Imported Products	Import Volume
Other gas filters, purification machines and devices	8
Other	0
Grinding balls and similar products for malleable cast iron and cast steel grinding machines	8
A connection cable with a rated voltage of no more than 80 volts	0
Other	0

2016 Exported Products (USD 1,000)
Exported Products	Export Volume
Rare earth permanent magnet	21,714
Other	3
A permanent magnet for other metals (including other metals that are magnetized to prepare permanent magnets)	49
Other	1

2015 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
Italy	5,715
Holland	4,269
India	4,020
Germany	2,666
France	1,658
Other	7,291

2015 Imported Products (USD 1,000)
Imported Products	Import Volume
Rare earth permanent magnet	4

2015 Exported Products (USD 1,000)
Exported Products	Export Volume
Rare earth permanent magnet	25,521
A permanent magnet for other metals (including other metals that are magnetized to prepare permanent magnets)	99
Other	0

EMPLOYEE

Date	2018-01-02
Employee Number	400

WEBSITES

-	Website	Name	File No	Registrant
1	www.ktmagnet.com	NINGBO KETIAN MAGNET CO., LTD.	-	-

Website	www.ktmagnet.com
Status	Normal
Name	NINGBO KETIAN MAGNET CO., LTD.
Sponsor Name	NINGBO KETIAN MAGNET CO., LTD.
Hosted By	Company
Source	Public channel

ABNORMAL TAX PAYER

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

C. Taxpayer information of database.

TAX ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

DEBT ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Major telecommunication operators of China;

B. Telecommunication information of database.

FINANCIAL INFORMATION

DETAILED FINANCIAL INFORMATION (UNIT: CNY 1,000)

Financial Note: Due to the lack of a clear government policy regarding the transparency of enterprise financial information, some financial items might be missing in the financial statements, causing possible inequality between the sum of the provided items and the provided total numbers.

Assets
Year	2015-12-31	2016-12-31
Report Type	Annual Report	Annual Report
Statement Type	Individual	Individual
Source	AIC	AIC
Audited or Not	Unknown	Unknown
Cash and Equivalents	98,819	12,814
Accounts receivable	49,171	58,974
Other Accounts Receivable	817	181,441
Inventories	46,335	65,784
Total Current Assets	303,914	366,870
Fixed Assets	90,760	81,177
Total Non-Current Assets	108,988	103,007
Total Assets	412,902	469,877

Liabilities
Year	2015-12-31	2016-12-31
Accounts Payable	24,384	58,911
Other Account Payable	5	1
Total Current Liabilities	36,271	70,623
Total Non-Current Liabilities	21,249	16,516
Total Liabilities	57,520	87,139
Share Capital (Paid-in Capital)	-	90,000
Total Owner’s Equity	355,382	382,738
Total Liabilities and Owner's Equity	412,902	469,877

Income Statement
Year	2015-12-31	2016-12-31
Operating Income	272,448	262,629
Total Profit	25,743	30,877
Income Tax	3,675	3,520
Net Profit	22,068	27,357

GROWTH RATE OF MAJOR FINANCIAL

	2015	Growth(%)	2016
Operating Income	272,448	-3.60	262,629
Total Assets	412,902	13.80	469,877
Working Capital	267,643	10.69	296,247
Total Profit	25,743	19.94	30,877
Net Profit	22,068	23.97	27,357
Total Liabilities	57,520	51.49	87,139
Total Owner’s Equity	355,382	7.70	382,738
Total Current Assets	303,914	20.72	366,870
Total Current Liabilities	36,271	94.71	70,623
Fixed Assets	90,760	-10.56	81,177

IMPORTANT RATIO

Profitability	2015	2016
Return on net assets (%)	6.21	7.15
Return on total assets (%)	5.34	5.82
Net profit margin (%)	8.10	10.42
Operation capacity	2015	2016
Turnover of total assets	0.66	0.56
Turnover of current assets	0.90	0.72
Turnover of account receivable	5.54	4.45
Turnover Days of Accounts Receivable	64.97	80.84
Solvency	2015	2016
Liabilities to assets ratio (%)	13.93	18.55
Current ratio	8.38	5.19
Quick ratio	7.10	4.26
Development capacity	2015	2016
Yearly Growth of Operating Income (%)	-	-3.60
Yearly growth of total assets (%)	-	13.80

FINANCIALS & ANALYSIS

Financial Note

Subject’s financial information of 2015 and 2016 obtained from AIC is provided for client’s reference.

INDUSTRY INFORMATION

INDUSTRY CODE

SIC (China)	3391,Production of Forgings & Sintered Metal Products 【Major】
ISIC	2591,Forging, pressing, stamping and roll-forming of metal; powder metallurgy
NACE	25.5,Manufacture of basic precious and other non-ferrous metals

INDUSTRY FINANCIAL AVERAGE

-	2016	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	18.55	55.59	63.44	96.36
	Current ratio	5.19	1.98	1.05	0.39
	Quick ratio	4.26	1.24	0.65	0.24
Development Capacity	Yearly Growth of Operating Income (%)	-3.60	25.43	12.22	-5.78
	Yearly Growth of Gross Profit (%)	-	22.22	7.77	-9.86
	Yearly Growth of Total Assets (%)	13.80	17.90	6.29	-8.16
Profitability	Return on net assets (%)	7.15	11.11	4.54	-11.00
	Return on total assets (%)	5.82	6.79	2.56	-8.39
	Gross profit margin (%)	-	23.68	9.17	-3.51
Operation Capacity	Turnover of total assets	0.56	2.20	0.87	0.28
	Turnover of current assets	0.72	3.03	1.31	0.37
	Turnover days of account receivable	80.84	32.02	61.39	156.96

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.67
UK Pound	1	INR 86.11
Euro	1	INR 76.59
CNY	1	INR 9.77

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.