This report prepared by Huaxia D&B China is sent to answer your inquiry on:

Zhongshan Sints Powder Metallurgy Co.,Ltd

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   :   中山市大庄家粉末冶金有限公司
Inquiry Address   :   -
Inquiry Phone/Fax   :   (P)13790071767 
Inquiry Reference   :   CUSTSR

Copyright © 2011-2015 Shanghai Huaxia Dun & Bradstreet Business Information Consulting Co., Limited

 

Zhongshan Sints Powder Metallurgy Co.,Ltd

Report compiled Feb 17,2016
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IDENTIFICATION & SUMMARY

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Identification

Company Name Zhongshan Sints Powder Metallurgy Co.,Ltd
Official English Name Yes
Chinese Name 中山市大庄家粉末冶金有限公司
DUNS® Number 54-953-9268
Address Fusha Industry Zone, Fusha Town
Zhongshan
Guangdong
Postal Code 528434
Address (Chinese) 阜沙镇阜沙工业园
中山市
广东省
Telephone 0760 23453788
Facsimile 0760 23453789
Website www.dzh123.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
 
 

Risk Summary

   
 
RISK EVALUATION
   
  EMMA Score 4  
  D&B Rating 3A2  
  D&B PAYDEX® N/A  
 
LEGAL EVENTS
   
  Litigation Records 0  
 
PRINCIPAL INFORMATION
   
  Principal(s) 2  
 
PAYMENT INFORMATION
   
  Trade References 1  
 
COMPANY KEY EVENTS
   
  History Changes 0  
  Media Records 0  
 
FINANCIAL SUMMARY
   
  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)  
  Shareholders Equity 48,950,000 (2014)  
 
 
Click on summary items for full details
 
 
 
CURRENCY
All monetary amounts quoted in this report are shown in Renminbi(RMB) unless otherwise stated.
 
REMARK
"-" stands for "Insufficient information" or "No comments".
 
 
   

Risk Assessment


  EMMA Score 4  
  Relative Risk  
 
 Below Average Risk
 
   
  1 10  
 
  D&B Rating 3A2  
  Financial Strength 3A (Tangible Net worth 8,500,000 - 84,999,999)  
  Composite Appraisal2 Good 

  PAYDEX of This Business N/A
     
  PAYDEX of this business is not available
     
  It requests at least three trade experiences to generate a PAYDEX. PAYDEX is not computable with the current payment information of the company.
     
 

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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RISK ANALYSIS

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EMMA Score


10 


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.
  • EMMA Score
    4

    By evaluating all risk factors, the company is assigned with EMMA score of "4", indicating "Below Average Risk".

     

    Industry Norm Grouping
           
      Industry Group SIC 3714  
      Industry Group Description Motor vehicle parts and accessories  
      Industry Group EMMA Score Quartile Values
    Lower Quartile 4
    Median 5
    Upper Quartile 6
     

    Company Risk Vs Industry Norm Chart
    EMMA Score
    Lower Quartile
    Median
    Upper Quartile
      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%
      1 2 3 4 5 6 7 8 9 10
     
    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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    THIRD PARTIES REFERENCES

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    D&B PAYDEX®


    The D&B PAYDEX® is a unique indicator of payment performance weighted by the monetary value of the payment experiences as reported to D&B by trade references. A detailed explaination of how to read and interpret PAYDEX values can be found in the Appendices section of this report.


      PAYDEX of This Business N/A
         
      PAYDEX of this business is not available
         
      It requests at least three trade experiences to generate a PAYDEX. PAYDEX is not computable with the current payment information of the company.
         
     
      PAYDEX of This Industry
    76
     
     
     
     
       
      0 100  
     
      When weighted by value,payments to suppliers average 6 days beyond terms based on payments collected over the last 24 months
     
      Industry Name:Motor vehicle parts and accessories
      Industry Median:76
      Upper/Lower Quartile:80/63
      Based on:2713 businesses
         
     
    D&B PAYDEX® Key
    High risk of late payment(average 30 to 120 days beyond terms) Medium risk of late payment(average 30 days or less beyond terms) Low risk of late payment(average prompt to 30+ days sooner)

    Trade Payment Information


    Trade Payment Experiences Summary
    Value Bands - Now Owes
    RMB
    No. of Exp Sum of Now Owes
    RMB
    Within
    Terms
    1-30
    Days
    31-60
    Days
    61-90
    Days
    91+
    Days
    >10,000,000 0 0.00 0% 0% 0% 0% 0%
    1,000,000 - 9,999,999 0 0.00 0% 0% 0% 0% 0%
    500,000 - 999,999 0 0.00 0% 0% 0% 0% 0%
    100,000 - 499,999 0 0.00 0% 0% 0% 0% 0%
    50,000 - 99,999 0 0.00 0% 0% 0% 0% 0%
    <50,000 1 0.00 100% 0% 0% 0% 0%
    TOTAL 1 0.00 100% 0% 0% 0% 0%

     

    Note: Above Trade Payment Experiences Summary is derived by analysis trade payment experiences details within 24 months.


    Detailed Information
     
    Detailed Information
    Trade Payment Experiences Details (Max. 100 records displayed)

    (Amounts may be rounded to the nearest figure in prescribed ranges)

    Date Paying Record High Credit Now Owes Past Due Selling Terms Last Sale
    Oct 09,2015 Prompt 0 0 0 EOM 30 Oct 01,2015
     

    Note: The above payment record reflects how accounts are paid in relation to the terms granted. Slow-30, for example, indicates a 30 day term where 30 additional days are taken. In some instance, payment beyond terms can be the result of disputes over merchandise, lost invoices, etc

    Industry Payment Information


    According to the statistics collected by Huaxia Dun & Bradstreet China in 2014.10-2015.9, the payment timeliness ratio of automobile and parts industry was mostly kept between 60% and 65%. Despite the relative good performance in December, 2014, no apparent fluctuation has happened.

    In terms of the payment records and performances, the payment timeliness ratio and the overdue ratio during the recent 12 months was 63% and 24%, up 1 percent and down 1 percent respectively. The average overdue term reached 19 days, the same as that of the last statistic (2014.7-2015.6). In terms of the payment amount and the overdue period, about 10 of the total value was delayed, the same as the last statistics. Among which, the one with overdue term of 1-30 days accounts for 54% of total overdue value, the same as that of the last quarter.

    Overall, the payment timeliness ratio of automobile and parts industry was generally stable during the past 12 months with very limited raise of drop of the company risks. Regarding the outstanding amount of 30+ days overdue still accounts for nearly half of total overdue one, certain reminding is still necessary for the suppliers to collect their money.

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    HISTORY

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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
    徐学军
    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 Summary

    Subject 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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    PRINCIPALS

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    Principal(s)

    Xuejun XU - General Manager/Legal Representative
    徐 学军

    Gender Male
    Year of Birth 1970
    Nationality China
    Education Master
    Academy of Graduation Central South University
    Activity Status Yes
    Area of Responsibility Overall management
    Related Working Experience 5 Year+


    Xuejun XU - Legal Representative
    徐 学军

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    OPERATIONS

    Summarise  
       

    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
       
    Awards & Certifications Name ISO/TS16949
       
    Awards & Certifications Name QC080000
       

    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


    Type Number
    Here 240
    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 & BANKING

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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   1.20 1.08  
      Gross Profit Margin %   18.96 23.75  
      Net Profit Margin %   14.80 17.22  
      Return on Equity %   24.13 25.03  
      Return on Assets %   17.86 18.71  
    Financial Comments
     
    • 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.
     

    Banking

    The 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

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    Industry Highlights


    Date Jul 01, 2015
    Source Statistics Authorities
    DetailIn 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
    DetailAs 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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    Public Records

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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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    APPENDICES

    Summarise  
       

    HDBC EMMA Score

    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

    • Region & Province

    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

    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


    Customer Service Contact Information
    Web www.huaxiadnb.com
    Email enquiry@huaxiadnb.com
    Telephone 400-820-3536 (Shanghai)
    400-810-3531 (Beijing)
    800-830-9032 (Guangzhou)
     
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    Remarks

    Whilst Huaxia D&B China attempts to ensure that the information provided is accurate and complete by reason of the immense quantity of detailed matter dealt within compiling the information and the fact that some of the data are supplied from sources not controlled by Huaxia D&B China which cannot always be verified, including information provided direct from the subject of enquiry as well as the possibility of negligence and mistake, HDBC does not guarantee the correctness or the effective delivery of the information and will not be held responsible for any errors or omissions therein.


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