COMPANY CREDIT REPORT

Transcription

1 HZResearch Research-Credit Credit Report on China company Qinhuangdao Dicastal XXX Forged Wheel Co., Ltd. COMPANY CREDIT REPORT 二 〇 一 〇 年 一 月

2 TOTAL CHINA COMPANY CREDIT REPORT *Subject Company Qinhuangdao Dicastal XXX Forged Wheel Co., Ltd. Business address No.15, Heilongjiang West Road, Economic and Technical Development Zone, Qinhuangdao, China ~ Telephone XXX Facsimile XXX P.C Http http//wwwxx.com.cn XXX@xXX.com.cn Given company XINGLONG DUANZAO name Given address XXX Given telephone XXX Given facsimile N/A Given P.C *Registered name XXX Registered No.15, Heilongjiang West Road, Economic and address Technical Development Zone, Qinhuangdao ~X Registered Tel Registered Fax N/A Registered P.C *Most of the mainland China companies are registered only in Chinese character. Any English name (unless indicated in the Registered Name box) is given for reference only, which is either given by Subject Company or indicated in its website (if available) or any other sources or translated and/or transliterated. SUMMARY BUSINESS LICENSE XXX NUMBER REGISTRATION DATE 30 September, 2004 LEGAL FORM Limited liability company CHIEF EXECUTIVE CHEN XXX REGISTERED CAPITAL 78,000,000 BUSINESS LINE Manufacturing of aluminum alloy wheel hubs. TURNOVER 100,632,125.36(Year ended )

3 TOTAL ASSETS 199,678,228.30(As at ) TOTAL INVESTORS 38,093,683.24(As at ) EQUITY NET PROFIT -6,109,568.57(Year ended ) EMPLOYEES 550 SIZE IN ITS LINE Medium and small GENERAL REPUTATION Excellent, Good, Fairly good, Average, Bad, Undetermined, Poor TREND Up, Steady, Fairly steady, Ordinary, Down, Undetermined Currency in this report is Renminbi unless otherwise stated History Evolution HISTORY XX was registered as Limited Liability Company with Qinhuangdao Municipal Industrial & Commercial Administration Economic and Technical Development Zone Substation (the official body of Chinese Government in issuing and renewing business license) under file number on 30 September, The expiry date of the business license is till 29 September, Change information Registered Capital September 2004 to February , February 2008 till now 78,000,000 Legal Representative September 2004 to February 2008TIAN Chun Gang February 2008 till now CHEN Yan Guang Shareholders September 2004 to September 2007 Qinhuangdao XX Real Estate Group Co., Ltd. (80%), Daika Hub Manufacturing Co., Ltd. (10%), Qinhuangdao Yanda Modern Integration Manufacturing Technical Development Co., Ltd.(10%)

4 REGISTRATION INFORMATION Registry Qinhuangdao Municipal Industrial & Commercial Administration Economic and Technical Development Zone Substation File Number XX Registration Date 30 September, Business license 30 September, 2004 to 29 September, 2034 Validity Legal Form Limited liability company Legal CHEN Yan Guang Representative Board Chairman CHEN Yan Guang General Manager LIU Xiao Qiang Registered Capital 78,000,000 BUSINESS LINE Manufacturing of aluminum alloy wheel hubs OWNERSHIP Shareholders and share SC s investors & executives are shown as follows SHAREHOLDERS % OF SHAREHOLDING Qinhuangdao Yanda Modern Integration 6.16% Manufacturing Technical Development Co., Ltd. Qinhuangdao Xinglong Hub Co., Ltd % Qinhuangdao Xinglong Real Estate Group Co., 26.92% Ltd. Dicastal Hubs Manufacturing Co., Ltd. 40% Dicastal Hubs Manufacturing Co., Ltd., established in 1998, is the first aluminum alloy wheel hubs manufacturer in China mainland jointly funded by CITIC Corp., Hong Kong Dacheng Corp. and Hong Kong VMC Corp. With CITIC Investment Holdings Limited being its controlling shareholders. ORGANIZATION STRUCTURE Board of SC

5 General Manager Pers onal Finan cial Comp rehen sive mana geme nt Marke ting Export Purch asing Produ ction mana geme nt Materi als Engin eering Techn ical qualit y Notes Establishment of a limited liability company shall be subject to fulfillment of the following conditions; (1) the number of shareholders meets the requirements of the law; (2) the investment contributed by shareholders meets the minimum amount of capital required by law; (3) the company's articles of association are formulated jointly by the shareholders; (4) there is a company name, and an organizational structure complying with the requirements for establishing a limited liability company; and (5) there is a fixed site for production and operations and the necessary conditions for production and operations. A limited liability company is established by capital contributions made jointly by no more than fifty shareholders. A state-authorized investment institution or a department authorized by the state may invest on its own to establish a wholly state-owned limited liability company. A limited liability company s registered capital is the capital actually contributed by all the shareholders and registered with the company registration authorities. The registered capital of a limited liability company shall not be less than the following minimum amounts for a company engaging principally in production operations, RMB 500,000 yuan; for a company engaging principally in wholesaling commodities, RMB 500,000 yuan; for a company engaging principally in commercial retailing, RMB 300,000 yuan; for a company engaging principally in technology development, consultancy and services, RMB 100,000 yuan. EXECUTIVES

6 Name LIU XXX Position General Manager Sex Male Age 50 Education University Responsibility Overall management Working Experience Current Interviews and investigations Once engaged in production management of auto industry for many years From September 2005 till now, works as General Manager of SC Trade Experience 26 Years Management 20 Years Experience Strong Points Overall management Reasons of Appointed by Board of SC Promotion Detrimental Record Not found Name ZHANGXX Position Director of Production Sex Female Age 28 Education University Responsibility Planned dispatching Working Experience Once engaged in production management in Dalian In February 2006, participated in Production management of SC Now works as Director of Production of SC Trade Experience 6 Years Management 2 Years Experience Strong Points Production management Reasons of Appointed by General Manager Promotion Detrimental Record Not found Interviewed Miss WANG., staff of Comprehensive management of SC, confirmed part of the information in this report

7 FINANCIAL INFORMATION Financial Notes The above financial information was acquired through official channel (A.I.C.) and some of its key figures might / might not have been confirmed with Subject s management / or related personnel, as contingent to their availability (such as cash and bank balances, total current asset, total assets, total current liabilities, total liabilities, total shareholder s equity) BANKING Banker Bank of China Qinhuangdao Development Zone Branch Address No.73, Zhujiang Road, Economic Development Zone, Qinhuangdao, China Telephone Number XXX A/C Number XXX Tax Number N/A Banker(s) opinion Normal means that SC has maintained a normal relationship with its bankers with nothing detrimental reported. PAYMENT Nothing detrimental against SC has been found in our record. A trade survey currently conducted reveals the followings First Supplier Second Supplier Type of supplies Services Supplies/Materials Time Known 2 Years 3 Years Highest Credit 200,000 2,000,000 Outstanding Balance 100,000 1,500,000 Terms 30 days net 45 days net

8 Pay Record Within terms Within terms OPERATIONS OPERATION AND ACTIVITIES SC mainly engages in producing of aluminum alloy wheel hubs. The first period project of annual production 1,000,000 sets was put into use in March And the current annual production is 400,000 sets. Its products are mainly sold to large automobile manufacturers in domestic and abroad. Citic Dicastal Hubs Manufacturing Co., Ltd. takes charge of part of the technology. Principal Purchases Major types of sourcing Materials and supplies Local-type of suppliers (90%) Beijing, Hebei, etc Buying terms TT, Check Overseas-supplying (10%) Italy, Japan, etc countries Buying terms TT, L/C & Credit of 30 or 60 days Major suppliers include Qinhuangdao Yanda Modern Integration Manufacturing Technical Development Co., Ltd. TEL Qinhuangdao Development Zone Aluminium Alloy Co., Ltd. TEL Principal market Local-type of customers (40%)Chongqing, Guangzhou, etc Selling terms TT, Check Overseas-selling (60%) Japan, America, etc countries Selling terms TT, L/C & Credit of 30 or 60 days Major customers include

9 Chongqing Chang An Suzuki Automobile Co., Ltd. TEL America GM Corp. COURT FILINGS No record found CHARGE/MORTGAGE FILINGS Short-term loans 36,854, Long-term loans 14,000, Purpose Production Payment terms Cash Bank rating N/A SC has rights for import & export STAFF~ Total number of employees 550 Including Managerial Staff 65 Office Factory PREMISES / PROPERTY Address No.15, Heilongjiang West Road, Development Zone, Qinhuangdao, China Location Development Zone Area 800M2 Internal Layout Well-furnished, Standard, good, Fair, Simple Ownership Self-owned Address No.15, Heilongjiang West Road, Development Zone, Qinhuangdao, China Location Development Zone Area 7524M2 Internal Layout Well-furnished, Standard, good, Fair, Simple Ownership Self-owned Condition inside the premises during our visit Active, Inactive, Loose, Normal

10 SUBSIDIARIES AND ASSOCIATES Subsidiaries N/A Associates Qinhuangdao Dicastal Xinglong Hub Co., Ltd. TOTAL CREDIT'S APPRAISAL TCA3+ Explanatory notes on Total Credit's Appraisal (TCA) TCA1 Strongly Recommended Credit or business dealings strongly recommended. TCA2 Recommended Credit or business dealings recommended. TCA3+ Borderline + Credit or business dealings recommended supported with a regular monitoring basis. TCA3 Borderline Credit or business dealings appear acceptable while should be supported with a regular monitoring basis. TCA3- Borderline - Credit or business dealings should be considered upon a close-watch and regular monitoring basis. TCA4 Caution Credit or business dealings are advised upon a closewatch and preferably under secured basis. TCA5 Unacceptable Credit or business dealings are not advised whereas business dealings, if necessary, should only be upon secured basis. TCA6 Note Bankrupt, Liquidation, Deregistration, Dissolution & Business Cessation Credit or business dealings are not advised due to bankrupt, liquidation, dissolution, deregistration and/or business cessation. The credit appraisal provides an assessment of the credit worthiness of a company. It takes into account all significant elements of credit including company history, management background & credit record, financial position, payment history & credit record, business performance, overall market conditions, market trend and reputation of the company.