MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHANGHAI PEST INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Room 1207 No. 81 Yanping Road, Jing’an District, Shanghai, 200042 |
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Country : |
China |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
07.01.2003 |
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Com. Reg. No.: |
3101152010212 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Company is 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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
SHANGHAI PEST INTERNATIONAL TRADE CO., LTD.
ROOM 1207 NO. 81 YANPING ROAD, JING’AN DISTRICT, SHANGHAI, 200042 PR CHINA
TEL: 86 (0) 21-62321659
FAX: 86 (0) 21-62321657
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 7, 2003
REGISTRATION NO. : 3101152010212
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. TANG ZHIJUN (CHAIRMAN)
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
cny 18,240,000 (AS OF DEC. 31, 2006)
EQUITIES :
cny 670,000 (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : up to usd 8,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.39= US$1
Adopted
abbreviations:
ANS - amount not stated
NS - not stated SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Ren Min Bi
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 Jan. 7, 2003.
Company Status: 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 importing and exporting various
goods and technology.
SC is mainly engaged in international trade.
Mr. Tang Zhijun has been chairman of SC since 2003.
SC is known to have approx. 6 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 Shanghai. Our checks
reveal that SC rents the total premise about 100 square meters.
http://www.pest-chemical.com
. The design is professional and the content is well organized. At present it
is in both Chinese and English versions.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Tang Zhijun 90
Zheng Jiaqian 10
Chairman and General Manager:
Mr. Tang Zhijun , in his 40’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as chairman and general manager.
Manager:
Ms. Zheng Jiaqian, in her 30’s with university education. She is
currently responsible for the daily management of SC.
Working Experience(s):
From 2003 to present Working in SC as manager.
SC is mainly engaged in international trade.
SC’s products mainly include: agrochemicals.
SC sources its materials 100% from domestic market. SC sells 100% of its
products to the overseas market, mainly South American, Eastern European and
African countries.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Client:
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Bolivia AAA Company
*Major Supplier:
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Shanghai Keweinong International Trade Co., Ltd.
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’s suppliers declined to make any
comments.
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.
China Construction Bank Yanji Road Sub-branch
AC#：3100161050956004769
Relationship: Normal.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2006 |
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Cash & bank |
70 |
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Inventory |
560 |
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Accounts receivable |
2,290 |
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Advances to suppliers |
260 |
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Other receivables |
3,260 |
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Other current assets |
0 |
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Current assets |
6,440 |
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Fixed assets net value |
820 |
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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 |
7,260 |
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Short loans |
0 |
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Accounts payable |
2,250 |
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Advances from clients |
0 |
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Taxes payable |
-800 |
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Salaries payable |
0 |
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Other payable |
5,140 |
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Other current liabilities |
0 |
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Current liabilities |
6,590 |
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Long term liabilities |
0 |
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Total liabilities |
6,590 |
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Equities |
670 |
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Total liabilities & equities |
7,260 |
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Income Statement
Unit: CNY’000
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As
of Dec. 31, 2006 |
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Turnover |
18,240 |
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Cost of goods sold |
16,810 |
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Sales expense |
1,020 |
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Management expense |
900 |
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Finance expense |
0 |
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Profit before tax |
-500 |
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Less: profit tax |
0 |
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Profits |
-500 |
Important Ratios
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2006 |
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*Current ratio |
0.98 |
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*Quick ratio |
0.89 |
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*Liabilities to assets |
0.91 |
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*Net profit margin (%) |
-2.74 |
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*Return on total assets (%) |
-6.89 |
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*Inventory /Turnover ×365 |
11days |
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*Accounts receivable/Turnover ×365 |
46days |
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*Turnover/Total assets |
2.51 |
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* Cost of goods sold/Turnover |
0.92 |
PROFITABILITY: FAIR
The turnover of SC appears average in 2006.
SC’s net profit margin is fair in 2006.
SC’s return on total assets is fair in 2006.
SC’s cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in 2006.
SC’s quick ratio is maintained in a normal level in 2006.
The accounts receivable of SC is average.
The inventory of SC is average.
SC’s turnover is in an average level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is high.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC:
Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. Credit dealings of small amount can be considered for it 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%)