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This report prepared by Huaxia D&B China is sent to answer your inquiry on: |
Zhongshan Sints Powder Metallurgy Co.,Ltd
D-U-N-S: 54-953-9268
Prepared for |
: |
D&B Registration (Normal) - 2 years
|
Subscriber Key |
: |
927012679
|
Delivery Date |
: |
Feb 17,2016
|
Printed on |
: |
Feb 17,2016 |
|
Inquiry Date |
: |
Jan 27,2016
|
Inquiry Subject |
: |
中山市新泰興粉末冶金有限公司
|
Inquiry Address |
: |
-
|
Inquiry Phone/Fax |
: |
(P)13790071767
|
Inquiry Reference |
: |
CUSTSR
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Zhongshan Sints Powder Metallurgy Co.,Ltd |
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Report compiled Feb 17,2016 |
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Company Name |
Zhongshan Sints Powder Metallurgy Co.,Ltd
|
Official English Name |
Yes
|
Chinese Name |
中山市新泰興粉末冶金有限公司
|
DUNS® Number |
54-953-9268 |
 |
 |
Address |
Fusha Industry Zone, Fusha Town |
|
Zhongshan |
|
Guangdong |
Postal Code |
528434 |
Address (Chinese) |
阜沙鎮阜沙工業園 |
|
中山市 |
|
廣東省 |
Telephone |
0760 23453788 |
Facsimile |
0760 23453789 |
Website |
www.avatw.com
|
E-mail |
yinmanyan@126.com
|
 |
 |
Type of Business |
A limited company |
 |
 |
Year Started |
2008 |
History |
Clear (Complete Shareholder(s) and management information) |
Imports |
Yes |
Exports |
Yes |
 |
 |
Employees |
240 (Here) |
 |
 |
Principal |
Xuejun XU / General Manager |
 |
 |
US SIC Code |
3714 0000 |
Primary Business |
Motor vehicle parts and accessories |
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 |
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|
Risk Summary
|
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EMMA Score
|
4
|
|
|
D&B Rating
|
3A2
|
|
|
D&B PAYDEX®
|
N/A |
|
|
LEGAL EVENTS
|
|
|
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Litigation Records
|
0
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Principal(s)
|
2
|
|
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Trade References
|
1
|
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COMPANY KEY EVENTS
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History Changes
|
0 |
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Media Records
|
0 |
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Registered Capital
|
RMB 5,000,000 |
|
|
Sales/Turnover
|
79,799,000 (2014) |
|
|
Tangible Net Worth
|
48,950,000 (2014) |
|
|
Total Assets
|
66,129,000 (2014) |
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Shareholders Equity
|
48,950,000 (2014) |
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Click on summary items for full details |
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CURRENCY
All monetary amounts quoted in this report are shown in Renminbi(RMB) unless otherwise stated.
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REMARK
"-" stands for "Insufficient information" or "No comments".
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Risk Assessment
|
EMMA Score |
4 |
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|
Relative Risk |
|
|
 |
 |
Below Average Risk |
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 |
|
 |
 |
 |
 |
 |
 |
|
1 |
10 |
|
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D&B Rating |
3A2 |
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Financial Strength |
3A |
(Tangible Net worth 8,500,000 - 84,999,999) |
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Composite Appraisal | 2 |
Good | |
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PAYDEX of This Business |
N/A |
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PAYDEX of this business is not available |
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It requests at least
three trade experiences to generate a PAYDEX. PAYDEX is not computable
with the current payment information of the company. |
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|
EMMA Score predicts the possibility of a
business in perilous status of instability or unreliability, such as
poor financials, delay payment,
stale inventory, abnormal operational status, etc., it is based
on a scale of 1 (the lowest risk) to 10 (the highest risk). Subject's
EMMA score is
‘4’, indicating Below Average Risk. D&B Rating
assesses enterprises'financial strength and credit condition and
determines their credibility. Subject's D&B Rating is 3A2
(indicating Financial Strength: Tangible Net worth 8,500,000 -
84,999,999) and its composite credit appraisal is
2 (Good).
Company Overview
Subject is mainly engagedi n
production and sales of metallurgy parts, auto parts products. It was
established in 2008. Currently, subject owns around 240 staff.
In 2014, subject's Revenue reached RMB 79,799 thousand, Profit
Before Tax was RMB 11,812 thousand and Net Profit Margin that year was
14.80%.
Subject's EMMA score is "4", which is in the
medium risk range. Based on its financial statements, subject's
financial status is considered as good, indicating subject's real risk
is probably lower than the EMMA score reflected.
|
 |
Current Investigation
On Feb 17,2016 ,Sales Manager
Ms.Manyan Yin(Tel: 1379007****)
submitted
full financial statement, and confirmed the operational and historical data in this report.
Other information from a third party source and last investigation.
Generally
in China, the information in our reports is collected and validated
through telephone interview with subject, review of public web sites of
the business and acquisition of data that is publicly available by the
Chinese Government.
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EMMA Score
EMMA Score Analysis
Subject's EMMA score is mainly impacted by the following risk drivers:
Subject is a limited company, which is classified as a lower risk type of business.
Subject's history is Clear (Complete Shareholder(s) and management information), which indicates a lower risk level.
Subject's registered capital is RMB 5000000.00, which is in the medium level range, indicating a medium risk.
Subject/Industry PAYDEX® shows payment behaviour of the company/industry is good, indicating lower risk.
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|
By evaluating all risk factors, the company is assigned with EMMA score of "4", indicating "Below Average Risk". |
Industry Norm Grouping
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Industry Group SIC |
3714 |
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Industry Group Description |
Motor vehicle parts and accessories |
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|
Industry Group EMMA Score Quartile Values |
Lower Quartile |
4 |
Median |
5 |
Upper Quartile |
6 |
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Company Risk Vs Industry Norm Chart
EMMA Score |
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Lower Quartile |
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Median |
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|
Upper Quartile |
|
|
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|
0 |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
EMMA Score |
 |
Zhongshan Sints Powder Metallurgy Co.,Ltd |
 |
Industry |
|
|
Distribution of EMMA Score in Huaxia D&B China's Database
40% |
35% |
30% |
25% |
20% |
15% |
10% |
5% |
0% |
|
|
|
|
|
|
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|
Score |
Distribution |
1 |
1% |
2 |
8% |
3 |
14% |
4 |
19% |
5 |
21% |
6 |
19% |
7 |
13% |
8 |
4% |
9 |
1% |
10 |
0% |
|
Note: please refer to the report appendix for the principle and major factors of Huaxia D&B China EMMA Score.
Risk Assessment Matrix
PAYDEX |
Risk Range |
Low (EMMA 1 - 3) |
Medium (EMMA 4 - 7) |
High (EMMA 8 - 10) |
PAYDEX>=80 | AA |
BA |
CA |
80>PAYDEX>=60 |
AB |
BB (Subject lies in this group) |
CB |
PAYDEX<60 | AC |
BC |
CC |
Interpretation and Analysis of Risk Assessment Matrix
Classifications |
Risk Level |
Description |
Credit Policy |
Quality group |
AA->AB |
Business is sound, and the bills are paid promptly with good credit reputation. |
Favorable credit policy can be granted with automatic approval. |
Medium risk group |
BA->BB->AC |
Business is operated under medium risk, and some delay payment behaviors exist. |
Appropriate credit policy is suggested with some manual review. |
High risk group |
CA->BC->CB |
Business is operated under high risk, and some severe delay payment behaviors exist. |
Relatively strict credit policy is suggested with detailed manual review. |
Monitoring group |
CC |
Business is run under high risk or with high possibility of windup, and the bills are unable to be paid in time. |
Avoid credit sales. Cash settlement is suggested. |
*Risk levels are listed in order of risk from low to high. |
According to the Risk Assessment Matrix, subject is rated as "BB", which represents the subject belongs to the medium risk group:
The risk level of the subject is medium, which reveals its business risk is at the average level amid all Chinese enterprises;The
PAYDEX® of subject/industry indicates that some delay payment behavior
exists. However, the time and amount of the delay is relatively
acceptable,
thus its delay payment behavior is not severe;On the
whole, Subject's business is operated at the average level and its
business risk is also at the average level. And the
subject/industry has some short-term delay payment behaviors.
The subject is classified in the medium risk group. The appropriate
credit policy should be granted,
following a necessary manual review of the subject based on
its capacity, internal policy and risk tolerance.
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Registration
Registration Date |
Jul 04,2008 |
Registered At |
Zhongshan Administration for Industry and Commerce |
Registration No. |
442000000148358 |
National Organization Code |
677085640 |
License Expiry Date |
Jun 27,2028 |
Enterprise Registration Status |
In good standing |
Enterprise Management Status |
open |
Registered Capital
|
RMB 5,000,000 |
Paid-up Capital |
RMB 5,000,000 |
Tax No. |
442000677085640 |
Business Started |
2008 |
Type of Business |
a limited company |
Registered Address |
Fusha Industry Park,Fusha Town,Zhongshan |
Legal Representative |
XuXuejun |
Business Scope |
Production, processing and
sales: hardware plastic products, mold, import and export goods,
technology import and export (above laws and administrative regulations,
except for prohibited items; laws and administrative regulations limit
the project shall be managed to obtain a license).
(By law subject to the approval of the project before the
approval of the relevant business activities department) 〓
|
Shareholder(s)
Shareholding Structure
Name |
Region/ Country |
Shares |
Investment Mode |
Paid-Up Rate |
Xiangyue Xu 徐香月 |
China |
20% |
Cash |
fully paid |
Junfang Xu 徐君芳 |
China |
20% |
Cash |
fully paid |
Xuejun Xu 徐學軍 |
China |
60% |
Cash |
fully paid |
Total |
|
100% |
|
|
Comment:According
to the notification from China State Administration for Industry &
Commerce on February 19, 2014, business annual inspection is officially
ceased as of March 1, 2014.
The type of business of subject is a limited liability company (invested or held by a natural person) .
|
 |
History SummarySubject
was established in 2008, subject's shareholder(s) are Xiangyue Xu,
Junfang Xu and Xuejun Xu. Xuejun Xu is now acting as subject's legal
representative.
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Supply Capacity & Operation Nature
Subject is mainly engagedi n production and sales of metallurgy parts, auto parts products.
US SIC Code 3714 0000
Motor vehicle parts and accessories
The operation is seasonal. The low season of subject is from Jun to Aug. Subject provides ODM Service.
Awards & Certifications
Awards & Certifications Name |
ISO9001
|
|
|
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|
Awards & Certifications Name |
ISO/TS16949 |
|
|
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|
Awards & Certifications Name |
QC080000 |
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|
Licenses
Subject is entitled to independent import and export rights.
Patent
|
Application Number |
Application Date | Publication Date |
Duration of Patent | Invention Title |
|
|
201320230538.2 |
Apr 28,2013 | Oct 09,2013 |
10 Year | |
|
Patent refers to an exclusive right with a time
limit for the invention or creation that applied to national approval
authorities and approved qualified after legal examination. The three
categories of patent are invention patent, utility model patent and
design patent.
Products & Services
 |
Product Name |
Maximum Productivity |
Percent |
 |
 |
Powder metallurgy parts |
|
|
 |
 |
Exhaust system flanges |
|
|
 |
 |
Auto parts |
|
|
 |
 |
Locks |
|
|
 |
 |
Other Parts |
|
|
 |
Subject owns 3 production lines.
Purchasing
Purchase Territory
 |
Area |
Percent |
Region/Country |
 |
 |
Domestic |
|
|
 |
 |
Overseas |
|
|
 |
Purchasing Terms
 |
Terms |
|
Percent |
 |
 |
Credit |
90 days |
- |
 |
 |
Cheque |
- |
- |
 |
 |
Draft |
- |
- |
 |
Major Suppliers
 |
Area |
Name |
DUNS |
|
 |
 |
Domestic |
Haining Feida Metallurgy Powder Co., Ltd. |
|
|
 |
 |
Domestic |
Bazhou Hongsheng Industry Co.,Ltd. |
|
|
 |
Selling
Sales Territory
 |
Area |
Percent |
Region/Country |
 |
 |
Domestic |
80% |
|
 |
 |
Overseas |
20% |
Hong Kong
United Kingdom
Taiwan
Italy
|
 |
Selling Terms
 |
Terms |
|
Percent |
 |
 |
Partial Advance |
- |
- |
 |
Selling Settlement Method
 |
Settlement Method |
Percent |
 |
 |
Cash |
|
 |
Major Customers
 |
Area |
Name |
DUNS |
 |
 |
Domestic |
Mianyang Wanxin Wanrui'er Auto Parts Co.,Ltd |
|
 |
 |
Domestic |
Shenzhen Biyadi Industry Co.,Ltd. |
|
 |
China Customs Import and Export Data
HS Code |
720521 |
Alloy steel powders |
HS Code |
730791 |
Iron and steel flanges, NES (excluding stainless steel) |
HS Code |
848340 |
Roller screw transmission gear |
HS Code's full name is
International Convention for Harmonized Commodity Description and Coding
System, which is a multipurpose international trading commodity
classification catalog. Abbreviation: Harmonized System, i.e. HS. The
above HS Code are listed based on products of subject that have the top 5
import/export values in the latest 12 months.
Customs Rating: B
Transport Type
 |
|
Jan. - Jun. 2015 |
2014 |
2013 |
 |
 |
Import | - |
River-Sea Transportation
|
Air Transport
|
 |
 |
Export |
Air Transport,River-Sea Transportation,Motor Vehicle Transportation
|
Motor Vehicle Transportation, River-Sea Transportation, Air Transport
|
Motor Vehicle Transportation
|
 |
Trade Type
 |
|
Jan. - Jun. 2015 |
2014 |
2013 |
 |
 |
Import |
- |
Ordinary Trade
|
Ordinary Trade
|
 |
 |
Export |
Ordinary Trade
|
Ordinary Trade
|
Ordinary Trade
|
 |
Import & Export Value
 | |
Jan. - Jun. 2015 |
2014 |
2013 |
 |
 |
Import |
- |
USD 1,263
|
USD 1,431
|
 |
 |
Export |
USD 51,190
|
USD 54,032
|
USD 617
|
 |
Main Import & Export Country
 |
Import Country |
Export Country |
 |
 |
- | Hong Kong United Kingdom Taiwan Italy |
 |
The above data are provided with the authorization of China General Administration of Customs.
Employees
Employee Size
The above are approximate staff numbers. |
Operations Summary
|
Subject is
mainly engagedi n production and sales of metallurgy parts, auto parts
products. Major products include Powder metallurgy parts, Exhaust system
flanges, Auto parts, Locks and Other Parts. Currently, it owns 3
production lines. |
Subject is
entitled to I/E Rights. Its manufacturing is seasonal. Subject's
products 80% are sold in domestic market and 20% are exported.export
country/region mainly include Hong Kong, United Kingdom, Taiwan and
Italy. Its selling settlement methods include Cash. Subject's major
customer includes Mianyang Wanxin Wanrui'er Auto Parts Co.,Ltd ,
Shenzhen Biyadi Industry Co.,Ltd. and etc.Subject's major
suppliers include Haining Feida Metallurgy Powder Co., Ltd., Bazhou
Hongsheng Industry Co.,Ltd. and etc. |
 |
Location
Principal Place of Business
Location Description |
An industrial area |
Land Area |
7,000 sqm |
Used as |
Office, factory and warehouse
Showroom
|
Occupation Type |
Owns |
Other Place of Business
Type |
REGISTERED ADDRESS |
Address |
Fusha Industry Park,Fusha Town,Zhongshan |
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Finance
Please note that any financial information (such as
financial statements) included in this report was obtained with the
company's consent or from the stock exchange.
If no financial information is provided in this report, it
is because the company did not provide its consent to have such
information disclosed.
Pursuant to the Interim Regulations on the Public
Disclosure of Enterprise Information, issued by the State Council and
effective from 1 October 2014,
companies will no longer be required to submit their
financial statements to the Administration of Industry and Commerce
(AIC).
Instead, only limited financial figures of the company will
be reported to the AIC,
and such figures will be made available in reports only if
the company itself has consented to the disclosure of such financial
figures.
These new requirements affect all company financial
information for the 2013 financial year and onward, and as such,
financial statements should no longer be available in any
reports for the 2013 financial year and onward,
unless the company itself has provided such statements and
consented to the disclosure of such statements, or the company's
financial statement has been published on a stock exchange.
The 2014 financial statements were submitted by the company personnel.
Financial Highlights
|
|
|
|
Dec 31,2014
RMB '000 |
Change % |
Dec 31,2013
RMB '000 |
|
|
Current Assets |
|
|
42,888 |
4.95% |
40,866 |
|
|
Current Liabilities |
|
|
17,179 |
- |
17,052 |
|
|
Working Capital |
|
|
25,709 |
7.96% |
23,814 |
|
|
Tangible Net Worth |
|
|
48,950 |
-2.92% |
50,420 |
|
|
Fixed Assets |
|
|
23,241 |
-12.65% |
26,606 |
|
|
Total Assets |
|
|
66,129 |
-1.99% |
67,472 |
|
|
Total Liabilities |
|
|
17,179 |
- |
17,052 |
|
|
Shareholders Equity |
|
|
48,950 |
-2.92% |
50,420 |
|
|
Sales |
|
|
79,799 |
8.91% |
73,273 |
|
|
Net Profit |
|
|
11,812 |
-6.43% |
12,624 |
|
Balance Sheet
|
|
|
Dec 31,2014
RMB '000 Fiscal (Independent) |
Dec 31,2013
RMB '000 Fiscal (Independent) |
|
|
Cash and Bank |
|
1,323 |
1,422 |
|
|
Accounts Receivables |
|
24,997 |
24,166 |
|
|
Other Receivables |
|
3,166 |
3,466 |
|
|
Prepaid Expense |
|
352 |
559 |
|
|
Inventory |
|
12,900 |
10,903 |
|
|
Other Current Assets |
|
150 |
350 |
|
|
Total Current Assets |
|
42,888 |
40,866 |
|
|
Fixed Assets, at cost |
|
33,833 |
32,265 |
|
|
Less Acc. Depreciation |
|
(10,592) |
(5,659) |
|
|
Total Fixed Assets |
|
23,241 |
26,606 |
|
|
Total Intangible Assets |
|
- |
- |
|
|
Total Investment & Other Assets |
|
- |
- |
|
|
TOTAL ASSETS |
|
66,129 |
67,472 |
|
|
Short-Term Loans |
| 10,650 | 10,650 | |
|
Accounts Payable |
|
6,501 |
6,205 |
|
|
Provision:Taxes & Fees |
|
28 |
197 |
|
|
Total Current Liabilities |
|
17,179 |
17,052 |
|
|
Total Non-Current Liabilities |
|
- |
- |
|
|
Total Liabilities |
|
17,179 |
17,052 |
|
|
Capital |
|
5,000 |
5,000 |
|
|
Surplus |
|
100 |
321 |
|
|
Retained Earnings |
|
43,850 |
45,099 |
|
|
Total Equity |
|
48,950 |
50,420 |
|
|
TOTAL LIABILITIES & EQUITY |
|
66,129 |
67,472 |
|
Profit & Loss Statement
|
|
|
Dec 31,2014
RMB '000 Fiscal (Independent) |
Dec 31,2013
RMB '000 Fiscal (Independent) |
|
|
Sales |
|
79,799 |
73,273 |
|
|
-Cost of Goods Sold |
|
64,427 |
55,666 |
|
|
-Sales Tax |
|
240 |
201 |
|
|
Gross Profit/Loss |
|
15,132 |
17,406 |
|
|
-Operating Expenses |
|
1,979 |
1,950 |
|
|
-Administrative Expenses |
|
1,028 |
2,201 |
|
|
-Financial Expenses |
|
313 |
631 |
|
|
Operating Profit/Loss |
|
11,812 |
12,624 |
|
|
Profit/Loss Before Tax |
|
11,812 |
12,624 |
|
|
Profit/Loss After Tax |
|
11,812 |
12,624 |
|
|
Net Profit(Loss) |
|
11,812 |
12,624 |
|
Key Financial Ratios
 |
|
Ratio
|
|
2014 |
2013 |
|
|
Current Ratio |
|
2.49 |
2.39 |
|
|
Quick Ratio |
|
1.74 |
1.75 |
|
|
Total Debt/Equity Ratio |
|
0.35 |
0.33 |
|
|
Debt Ratio |
|
0.25 |
0.25 |
|
|
Collection Period (Days) |
|
112 |
118 |
|
|
Payment Period (Days) |
|
36 |
40 |
|
|
Inventory Turnover (Days) |
|
72 |
70 |
|
|
Asset Turnover |
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1.20 |
1.08 |
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Gross Profit Margin % |
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18.96 |
23.75 |
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Net Profit Margin % |
|
14.80 |
17.22 |
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Return on Equity % |
|
24.13 |
25.03 |
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Return on Assets % |
|
17.86 |
18.71 |
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Financial Comments
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- Business Performance: According to subject's financial
statements of 2014, its sales realized RMB 79,799 thousand, up
8.91% over the previous year, indicating its decent sales growth.
During the same year, subject's net profit booked
RMB 11,812 thousand, down 6.43% from the previous year. Its
net profit margin was 14.80%, lower than the year-earlier level, which
indicated its profitability should be improved.
- Solvency: By the end of 2014, Subject's current ratio
and quick ratio posted 2.49 and 1.74 respectively, showing its strong
short-term solvency capacity. Its working capital increased to
RMB 25,709 thousand. At the end of 2014, subject's debt ratio
stood at 0.25, which indicated its capital structure was reasonable.
- Cash Flow: By the end of 2014, subject's cash and bank
deposit was RMB 1,323 thousand, decreasing from the previous
year. At the end of 2014, subject's account receivable booked
RMB 24,997 thousand, and its DSO recorded 112 day(s),
shortening 6 day(s) compared with the year earlier, indicating its
control on account receivable was improved to som extent. Its
account payable was RMB 6,501 thousand, with a
payment period of 36 day(s).
- Overall financial status of subject is considered as good.
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BankingThe company maintains relationship(s) with the following bank(s) in China:
The Industrial & Commercial BANK OF CHINA, Zhongshan Branch Fusha Subbranch
2011028009024849580
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Industry Highlights
Date |
Jul 01, 2015 |
Source |
Statistics Authorities |
Detail | In
2014, China's auto market continued in the development trend of 2013,
maintaining steady growth. Automobile production and sales were steady
and were increased, new energy vehicle have made significant progress,
and large-scale enterprise group enhanced the scale of production and
sales in general, the automobile industry structure was further
optimized.In 2014, the production and sales volume were both over 23
million sets, with production and sales volume as the No. 1 in the
world. 23,725,200 sets of automobile were produced in the whole year, up
by 7.3%, and 23,491,900 sets of automobile were sold, up by 6.9%. |
| Among
them, 19,919,800 sets of passenger car were produced and 19,700,600
sets were sold, up by 10.2% and 9.9% respectively; 3,803,100 sets of
commercial vehicle were produced and 3,791,300 sets were sold, down by
5.7% and 6.5% respectively.The industry economic efficiency continued to
improve. In 2014, there were 12,407 automobile manufacturing
industrial enterprises above designated size, which realized main
business income of 6.667701 trillion yuan, an increase of 12.285%; sales
profit of 599.097 billion yuan, the industry profit margin of 8.99%.
Industry total asset size was of 5.214441 trillion yuan, an increase of
11.64%; total industry liabilities size of 2.947158 trillion yuan,
and industry assets and liabilities was 56.52%. |
| In
2014, the export of complete automobile fell, while the import market
maintained to grow. In 2014, China exported 897,200 sets of completed
automobile accumulatively, down by 2.8%, and the accumulative export
volume of $ 12.531 billion, an increase of 4.6%. China imported
1,422,700 sets of completed automobile accumulatively, up by
19.3%, and the accumulative import volume of $60.626 billion. |
Date |
May 30, 2014 |
Source |
Statistics Authorities |
Detail | As
of the end of 2013, the total number of enterprises in Chinese
automobile manufacturing industry reached 11,599, including loss
companies of 1,358, with industry loss of 11.70%. Industry realized main
business income of RMB 6.05 trillion and total profit reached RMB
510.77 billion. From the operation of market, the automotive
industry economy maintained good posture, and annual vehicle production
and sales respectively reached 22,116,800 and 21,984,100, with a
year-on-year increase of 14.76% and 13.87%. The production and sales of
passenger cars was 18,085,200 and 17,928,900, with a year-on-year
increase of 16.50 percent and 15.71 percent. The production and sales of
commercial vehicles was 4,031,600 and 4,055,200 respectively,
with a year-on-year increase of 7.56% and 6.40% respectively. |
| From
the import and export situation, the car import scale continued to
expand, but exports declined. Motor vehicle and chassis imported a total
of 1,193,500 in 2013 , total exports of 977,300 cars, and the
year-on-year growth of imports and exports respectively reached 5.54%
and -7.46 %. From the industry investment perspective, with
new energy vehicle development and production gradually advancing,
industry investment maintained growth. The auto industry investment in
fixed assets reached RMB 927.2 billion, with a year-on-year increase of
15.84%. It is expected that in 2014, in the case of the automotive
market environment will not change much, with the implementation of the
policy and environmental policy limit line, the car sales
growth has slowed over this year. |

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Litigation Records
As of Feb 17,2016 , HDBC has searched the China
Court website, website of local court in the place where subject is
located, major domestic courts websites as well as our internal China
court database,
but no related court records can be found against the subject
within 5 years.
Remark: The above mentioned channels are currently
publicly available ones to search for the court records against China
enterprises. However,
due to lack of a centralized database in mainland China that
covers all Chinese enterprises' litigation records, partial cases
against subject might not be available.
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D&B EMMA Score (Emerging Market Mediation
Alert Score) is a risk assessment model developed for emerging market
countries.
It is a score developed by data profiling approach and
statistical modeling, which predicts the possibility of a business in
perilous status of instability or unreliability,
such as poor financials, delay payment, stale inventory,
abnormal operational status, etc. The EMMA Score provides you with a
quick assessment of a business' risk standing,
and when used together with other information, allows you to
make better risk decisions.
The EMMA Score is based on a scale of 1 to 10, where 1 represents a lower risk and 10 a higher risk.
EMMA Score for China is initially rolled out in May 2009,
derived from the sample analysis of millions of company records.
When using the Score to make individual applicant decisions, a
customized version of this table based on an analysis of the Score
against your customer account portfolio is recommended.
It does not necessarily mean doing business with a company,
which is assigned with higher Risk Score, will result in increased risk.
Considering the particularity of Chinese business
environment and in order to make EMMA Score analyze and reflect risk
factors of Chinese enterprises more appropriately,
HDBC conducted an optimization and adjustment toward EMMA
Score in the first half of 2012, combined PAYDEX® to appraisal model as
an important risk evaluating dimension
and will try harder to deeply reflect the internal factors of
enterprise risk. The optimized EMMA Score makes the scores more
scientifically and effectively reflect
the risk characteristics of current China as an emerging
market and more objectively and deeply reflect risk level of Chinese
enterprises.
EMMA Score for China is calibrated on regular basis
following D&B Global Modeling Methodology that captures business
environmental change in China
caused by macro economy shift and particular systematic
events.
HDBC EMMA Score Commentary
Risk Range |
EMMA Score |
% of Report in Database |
|
% of High Risk Business |
|
Commentary |
|
Low Risk Scores |
1-3 |
28.9% |
|
5.7% |
|
Lower Risk Range |
|
Medium Risk Scores |
4-7 |
56.7% |
|
9.1% |
|
Average Risk Range |
|
High Risk Scores |
8-10 |
14.4% |
|
36.4% |
|
High Risk Range |
|
The Key Drivers of the EMMA Score include the following:
Business Information
- Business Type
- Line of Business
- Employee Size
- Sales Territory
- Registered Capital
- Year of Establishment
- History Status
- Property Ownership
|
Geographical Information
Public Record
- Number of Negative Record
Payment Information
- Percentage of Overdue Payment
-
Company/Industry PAYDEX®
|
EMMA Score Application
- Low EMMA Score
- May proceed to process the applicant quickly with minimal or no manual review
depending on the extent of score validation analysis.
- Medium EMMA Score
- Medium Risk Scores - Recommend a manual review of the applicant based on the
applicant's capacity, your internal policy and risk tolerance.
- High EMMA Score
- High Risk Scores - Requires thorough manual review of potential decline, or
approval depending on the applicant's capacity, your internal policy and risk tolerance.
Sample Data Analysis of Risk Assessment Matrix Database |
|
Risk Matrix Sample Distribution
PAYDEX |
Risk Range |
Low |
Medium |
High |
PAYDEX>=80 |
13.6% |
12.6% |
0.5% |
80>PAYDEX>=60 |
15.2% |
28.7% |
1.7% |
PAYDEX<60 |
0.1% |
15.4% |
12.2% |
Possibility of High Risk Enterprise
PAYDEX |
Risk Range |
Low |
Medium |
High |
PAYDEX>=80 |
5.8% |
8.4% |
9.1% |
80>PAYDEX>=60 |
5.6% |
8.4% |
14.5% |
PAYDEX<60 |
5.6% |
11.1% |
40.4% |
Interpretation and Analysis of Risk Assessment Matrix
Classifications |
Risk Level |
Description |
Credit Policy |
Quality group |
AA->AB |
Business is sound, and the bills are paid promptly with good credit reputation. |
Favorable credit policy can be granted with automatic approval. |
Medium risk group |
BA->BB->AC |
Business is operated under medium risk, and some delay payment behaviors exist. |
Appropriate credit policy is suggested with some manual review. |
High risk group |
CA->BC->CB |
Business is operated under high risk, and some severe delay payment behaviors exist. |
Relatively strict credit policy is suggested with detailed manual review. |
Monitoring group |
CC |
Business is run under high risk or with high possibility of windup, and the bills are unable to be paid in time. |
Avoid credit sales. Cash settlement is suggested. |
*Risk levels are listed in order of risk from low to
high.
Risk Assessment Matrix is the tool for investigating the
insight of subject combined with EMMA Score and PAYDEX®.
EMMA Score can indicate the risk level of subject. With the
help of PAYDEX®, one can also further analysis
subject's risk and find out the internal factors causing
risks based on the payment records of subject. In summary,
the assessment matrix can make further insightful analysis
towards the enterprises with similar EMMA Scores.
When using EMMA Score and Risk Assessment Matrix, the
combination of other information, such as internal
assessment policy of enterprise, commercial information
provided by HDBC, and feedback from the people who directly
contacts with subject, etc., is recommended. With these
information, it will allow you to be more convenient to make risk decisions.
D&B Rating Interpretation Tables
Financial Strength |
Composite Credit Appraisal |
Tangible Net worth |
Registered Capital |
Renminbi (RMB) |
Strong |
Good |
Fair |
Limited |
Undetermined |
5A |
5AA |
> 450,000,000 |
1 |
2 |
3 |
4 |
- |
4A |
4AA |
85,000,000 - 449,000,000 |
1 |
2 |
3 |
4 |
- |
3A |
3AA |
8,500,000 - 84,999,999 |
1 |
2 |
3 |
4 |
- |
2A |
2AA |
6,500,000 - 8,499,999 |
1 |
2 |
3 |
4 |
- |
1A |
1AA |
4,500,000 - 6,499,999 |
1 |
2 |
3 |
4 |
- |
A |
AA |
2,500,000 - 4,499,999 |
1 |
2 |
3 |
4 |
- |
B |
BB |
1,750,000 - 2,499,999 |
1 |
2 |
3 |
4 |
- |
C |
CC |
1,000,000 - 1,749,999 |
1 |
2 |
3 |
4 |
- |
D |
DD |
650,000 - 999,999 |
1 |
2 |
3 |
4 |
- |
E |
EE |
450,000 - 649,999 |
1 |
2 |
3 |
4 |
- |
F |
FF |
300,000 - 449,999 |
1 |
2 |
3 |
4 |
- |
G |
GG |
200,000 - 299,999 |
1 |
2 |
3 |
4 |
- |
H |
HH |
< 200,000 |
1 |
2 |
3 |
4 |
- |
Alternate Ratings |
Explanation |
|
|
|
|
|
N |
Financial Strength is negative |
|
|
3 |
4 |
- |
O |
Financial Strength is undisclosed |
1 |
2 |
3 |
4 |
- |
NB |
New Business: Less than 24 months |
1 |
2 |
3 |
4 |
- |
NQ |
Out of Business: Business has ceased to trade |
4 |
|
BR |
Branch or division location |
INV |
Investigation is undergoing |
Explanation of PAYDEX
A score of 80 denotes that payments reported to D&B have generally been made within terms.
Scores over 80 indicate that payments reported to D&B have been made earlier than terms.
The chart below outlines the specific 0-100 score and what it means.
D&B PAYDEX® |
|
Payment Habit |
100 |
|
Anticipate |
90 |
|
Discount |
80 |
|
Prompt |
70 |
|
15 days beyond terms |
60 |
|
22 days beyond terms |
50 |
|
30 days beyond terms |
40 |
|
60 days beyond terms |
30 |
|
90 days beyond terms |
20 |
|
120 days beyond terms |
0-19 |
|
Over 120 days beyond terms |
UN |
|
Unavailable |
Customs Rating
According to the Measures of the Customs of the People's
Republic of China on the Classified Management of Enterprises
(hereafter “the Measures”), China General Administration
of Customs has classified custom supervision category into 5
classes, which are AA, A, B, C and D. Enterprises are assessed and
classified based on if they comply with laws,
administrative regulations, custom rules, related
anti-corruption stipulations and operational management conditions,
supervisory and statistic custom records and etc.
AA Class: Enterprise with outstanding credit verified by the customs, suitable for correspondingly easy clearance measures.
A Class: Enterprise with good credit, suitable for generally easy clearance measures.
B Class: Enterprise with average credit, suitable for routine management.
C Class: Enterprise with poor credit, suitable for averagely close supervision measures.
D Class: Enterprise with rather poor credit, suitable for close supervision measures.
According to the notification published by China General
Administration of Customs on Nov. 19, 2014 on the implementation of
Interim Measures of the Customs of the People's
Republic of China for the Administration of Enterprise
Credit, the customs has started classifying companies into the levels of
Authorized Enterprise, Average Credit Enterprise and Poor
Credit Enterprise based on their credit status as of Dec.
1, 2014. According to the rules of “the Measures”, companies of AA Class
are classified as High Grade Authorized Enterprise;
A Class as Averagely Authorized Enterprise; B Class as
Average Credit Enterprise; C and D Classes are to be reassessed
accordingly. If companies of C and D Classes are rated
as Poor Credit enterprise, the application period of credit
level will remain the same as that of C Class and D Class.
Huaxia D&B China will timely organize the information disclosed by China General Administration of Customs.
Customer Service Contact Information
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Our ref: 201601279309300158
Your ref: CUSTSR
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Copyright © Huaxia D&B China
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