MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JINAN SHENGFULIN TRADE COMPANY LIMITED |
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Registered Office : |
Room 2402 B Building, |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
02.09.2004 |
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Com. Reg. No.: |
3701002820370 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is mainly engaged in International Trade. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
Up To USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
JI’NAN SHENGFULIN
TRADE CO., LTD.
ROOM 2402 B BUILDING,
NO.
TEL: 86 (0) 531-88320999/88976677 FAX: 86(0)531-88306222
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 2, 2004
REGISTRATION NO. : 3701002820370
REGISTERED LEGAL FORM : LIMITED LIABIITIES COMPANY
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2004)
EQUITIES :
CNY 5,266,000 (AS OF DEC. 31, 2004)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.55 =US1$
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 Sep. 2,
2004.
Company Status: Limited Liabilities Company 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 wholesaling and retailing steel, garments, building
materials, decorative materials, communication equipment (excluding special
controlled products), handicrafts, hardware, thermal insulating materials,
plastic steel doors and windows, fire control equipment, automobiles (excluding
cars); computer system integration and comprehensive line distribution;
greening services; selling quick-frozen food and seafood.
SC is mainly
engaged in international trade.
Ms. Ma Fuhua has
been general manager of SC since 2004.
SC is known
to have approximately 10 staff members at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Jinan. Our checks reveal that SC
rents the total premise about 100 square meters.
SC is not known to host website of its own at present.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 1,000,000 |
CNY 5,000,000 |
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Shareholders and shareholding |
Ma Fuhua 60% Sun Tao 40% |
Ma Fuhua 30% Sun Tao 70% |
MAIN SHAREHOLDERS:
Name % of Shareholding
Ma Fuhua 30
Sun Tao 70
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General manager:
Ms. Ma Fuhua, born in 1954, with university education. She
is currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working in SC as general manager.
SC is mainly engaged
in international trade.
SC’s products mainly include: non-ferrous
metal, frozen ribbon fish.
SC sources its materials 100% from domestic
market. SC sells 90% of its products in domestic market, and 10% to overseas
market.
The buying terms of SC include Check, L/C, T/T and Credit of
60-90 days. The payment terms of SC include Check, L/C, T/T, and Credit of
60-90 days.
SC is known to have a sales office located at No.
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.
Jinan City Commercial Bank
Address:
AC#：N/A
Relationship:
Note: SC’s staff declined to release its account number.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2004 |
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Cash & bank |
504 |
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Inventory |
4,790 |
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Accounts
receivable |
0 |
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Accounts payable
advance |
70 |
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Other
receivables |
379 |
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Other current
assets |
0 |
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Current assets |
5,743 |
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Fixed assets |
24 |
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Fixed assets net
value |
24 |
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Projects under
construction |
0 |
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Long term
investment |
0 |
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Other assets |
0 |
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Total assets |
5,767 |
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Short loans |
0 |
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Accounts payable |
0 |
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Accounts
receivable advance |
52 |
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Other payable |
448 |
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Other current
liabilities |
1 |
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Current
liabilities |
501 |
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Long term
liabilities |
0 |
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Total
liabilities |
501 |
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Equities |
5,266 |
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Total
liabilities & equities |
5,767 |
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Note: SC’s Income
Statement is not available from local AIC.
Important Ratios
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as
of Dec. 31, 2004 |
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*Current ratio |
11.46 |
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*Quick ratio |
1.90 |
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*Liabilities
to assets |
0.09 |
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*Fixed
assets/Total assets |
0.004 |
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a fairly
good level.
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SC’s quick ratio is maintained in a normal level.
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The inventory of SC appears large in 2004.
LEVERAGE: AVERAGE
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The debt ratio of SC is low.
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The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. Credit should be confined to small amount at present.
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. |
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%)