MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JUN AN JEWELLERY CO., LTD. |
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Registered Office : |
10 G A Block, Windows Of |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
22.11.1995 |
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Com. Reg. No.: |
19239321-5 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Company is engaged in retailing jewelry, gold and silver ornaments and
broker service |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
JUN AN JEWELLERY CO., LTD.
10 G A BLOCK, WINDOWS OF
TEL: 86 (0) 755-83280606
FAX: 86 (0) 755-83280778
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 22, 1995
REGISTRATION NO. : 19239321-5
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. dAI YING(CHAIRMAN)
STAFF STRENGTH :
40
REGISTERED CAPITAL : CNY 4,000,000
BUSINESS LINE :
JEWELLERY
TURNOVER :
CNY 3,769,000 (AS OF DEC. 31, 2005)
EQUITIES :
CNY 3,765,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
7.5656 = US1$ AS OF 2007-8-7
Adopted
abbreviations:
ANS - amount not stated
NS - not stated SC - subject
company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on November 22, 1995.
Limited liabilities co. This form of business in PR China is defined as a legal
person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the co., an investment
certificate is issued to the each of shareholders. The board of directors is comprised of three to thirteen
members. The minimum registered capital for a co. is CNY 30,000. Shareholders may take their capital contributions in cash
or by means of tangible assets or intangible assets such as industrial
property and non-patented technology. Cash contributed by all shareholders must account for at
least 30% of the registered capital. Existing shareholders have pre-exemption right to purchase
shares of the co. offered for sale by the other shareholders and to
subscribe for the newly increased registered capital of the co.
SC’s registered business scope includes retailing gold and silver ornaments
and broker service; domestic commerce, commodity supply and sales industry (not
including specially operated, controlled and monopolized commodities).
SC is mainly engaged in retailing jewelry, gold and silver ornaments and
broker service.
Mr. Dai Ying has been legal representative and chairman of SC since
1995.
SC owns approximately 40 staff at present.
SC is currently operating at the above stated address, and this address
houses its operating office and head office in the commercial zone of Shenzhen.
Our checks reveal that SC rents the total premise about 1200 square meters.
http://www.jass.com.cn The design is
professional and the content is well organized. At present it is in Chinese
versions.
Email: jass@jass.com.cn
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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1997-10 |
Registered capital |
CNY 3,000,000 |
CNY 4,000,000 |
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1997-10 |
Company Name |
Jun An Goldsmith Co., Ltd. |
Jun An Jewellery Co., Ltd. |
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1997-10 |
Main Shareholders |
Shenzhen Jun An Property Management Corporation Shenzhen Zhuoyuan
Jewellery Industry Co., Ltd |
Shenzhen Jun An Property Management Corporation Shenzhen Zhuoyuan Jewellery Industry Co., Ltd Shenzhen Guangpengxin Investment Co., Ltd |
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Shenzhen Jun An Property Management Corporation 45
Shenzhen Zhuoyuan Jewellery Industry
Shenzhen Guangpengxin Investment
Legal representative and chairman:
Mr. Dai Ying , ID # 420106660202531 with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 1995 to present Working
in SC as chairman and legal representative.
SC is mainly engaged in retailing jewelry, gold and silver ornaments and
broker service.
SC sources its materials 50% from domestic market, and 50% from overseas
market. SC sells 90% of its products in domestic market, and 10% to overseas
market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
SC is not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment and our debt collection record concerning SC.
Trade payment experience : SC did not
provide any name of trade/service suppliers and we have no other
sources to conduct the enquiry at present.
Delinquent payment record : None in our
database.
Debt collection record :
No
overdue amount owed by SC was placed to us for collection within the last 6
years.
CITIC Industrial Bank Shenzhen Branch Chengdong Sub-branch.
AC#：0204010023620
Relationship:
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2005 |
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Cash & bank |
1,909 |
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Inventory |
3,409 |
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Accounts receivable |
536 |
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Advances to supplies |
0 |
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Other receivables |
987 |
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Other current assets |
0 |
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------------------ |
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Current assets |
6,841 |
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Fixed assets |
1,008 |
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Fixed assets net value |
16 |
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Projects under construction |
0 |
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Long-term investments |
0 |
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Intangible and other assets |
0 |
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Total assets |
6,857 |
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Short loans |
0 |
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Accounts payable |
2,796 |
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Other Accounts payable |
267 |
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Accrued payroll |
0 |
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Taxes unpaid |
8 |
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Welfares payable |
0 |
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Accrued expenses |
0 |
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Advances from customers |
21 |
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Other current liabilities |
0 |
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Current liabilities |
3,092 |
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Long term liabilities |
0 |
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Total liabilities |
3,092 |
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Shareholders equities |
3,765 |
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Total liabilities & equities |
6,857 |
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Income Statement
Unit: CNY’000
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as
of Dec. 31, 2005 |
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Turnover |
3,769 |
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Cost of goods sold |
1,890 |
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Sales expense |
900 |
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Management expense |
460 |
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Finance expense |
39 |
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Operation Profit |
324 |
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Less: profit tax |
0 |
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Net profit |
324 |
Important Ratios
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as
of Dec. 31, 2005 |
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*Current ratio |
2.21 |
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*Quick ratio |
1.11 |
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*Liabilities to assets |
0.45 |
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*Net profit margin (%) |
8.60 |
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*Return on total assets (%) |
4.73 |
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*Inventory /Turnover ×365 |
330 days |
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*Accounts receivable/Turnover ×365 |
52 days |
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*Turnover/Total assets |
0.55 |
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* Cost of goods sold/Turnover |
0.50 |
PROFITABILITY: AVERAGE
The turnover of SC appears average in its line.
SC’s net profit margin is fairly good.
SC’s return on total assets is average.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a fairly good level.
SC’s quick ratio is maintained in a fairly good level.
The inventory of SC appears fairly large.
The accounts receivable of SC is maintained in an acceptable level.
SC’s has no short-term loans.
SC’s turnover is in an acceptable level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Stable.
SC is considered small-sized in its line with stable financial
conditions
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)