MIRA
INFORM REPORT
|
Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
shanghai sunhome
industrial co., ltd. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
August 12, 1998 |
|
|
|
|
Com. Reg. No.: |
3101152301891 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Engaged in
international trade. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
Maximum Credit Limit : |
Up To usd 5,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
shanghai sunhome industrial
co., ltd.
no.
TEL :
86 (0) 21-68911337
FAX :
86 (0) 21-68911323
EXECUTIVE SUMMARY
INCORPORATION DATE : august 12, 1998
REGISTRATION NO. : 3101152301891
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER :
CNY 62,110,000 (AS OF DEC. 31, 2006)
EQUITIES :
CNY 1,030,000 (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY7.68 = US$1 AS OF 2007-5-16
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 August 12, 1998.
Company Status: Limited liabilities co. This form of business in PR China
is defined as a legal person. 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 listed as follows: -manufacturing co. :
CNY 500,000.00 -trading &wholesaling co. :
CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy & service
co. : CNY
100,000.00 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 50% of the registered capital while
contribution by intangible assets must not exceed 20% 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 operating and acting as an agent of importing and
exporting various kinds of commodities and technology, excluding the goods
forbidden by the government.
SC is mainly
engaged in international trade.
Mr. Ye Kunchun has
been chairman of SC since 2006.
SC owns about 15
staff at present 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 200 square meters.
SC is not known to host web site of its own at present.
Changes of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2005 |
Registered capital |
CNY 500,000 |
CNY 1,000,000 |
|
2006-10 |
Chairman |
Gong Baozhong |
Ye Kunchun |
|
2006-10 |
Company name |
Shanghai Sunhome Industrial & Trade Co., Ltd. |
Shanghai Sunhome Industrial Co., Ltd. |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Gong Baozhong 60
Wan Weiguo 40
l
Chairman and
General Manager:
Mr. Ye Kunchun, about 40 years old with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2006 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products mainly
include: Aerosol cans
SC sources its materials 95% from domestic
market, and 5% from overseas market, mainly
The buying terms of SC include T/T, L/C and Credit of 30 days. The
payment terms of SC include T/T, L/C and Credit of 30 days.
*Major Customer:
==============
Shanghai Johnson Co., Ltd.
*Major Supplier:
==============
Shanghai Baoquan Industry 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 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.
Industrial and Commercial Bank of
AC#：0271341001713409006738426
Relationship:
Balance Sheet (as
of Dec. 31, 2006)
Unit: CNY’000
|
Cash & bank |
1,290 |
|
Inventory |
1,110 |
|
Accounts
receivable |
10,440 |
|
Other Accounts
receivable |
1,870 |
|
To be
apportioned expense |
0 |
|
Other current
assets |
1,730 |
|
|
------------------ |
|
Current assets |
16,440 |
|
Fixed assets net
value |
26,380 |
|
Projects under
construction |
0 |
|
Long term
investment |
0 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
42,820 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
9,800 |
|
Other Accounts
payable |
29,250 |
|
Withdraw the
expenses in advance |
0 |
|
Other current
liabilities |
2,740 |
|
|
------------------ |
|
Current
liabilities |
41,790 |
|
Long term
liabilities |
0 |
|
Other
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
41,790 |
|
Equities |
1,030 |
|
|
------------------ |
|
Total
liabilities & equities |
42,820 |
|
|
============= |
Income Statement (as
of Dec. 31, 2006)
Unit: CNY’000
|
Turnover |
62,110 |
|
Cost of goods
sold |
58,840 |
|
Sales expense |
2,210 |
|
Management expense |
840 |
|
Finance expense |
140 |
|
Profit before
tax |
90 |
|
Less: profit tax |
30 |
|
Profits |
60 |
Important Ratios (as of Dec. 31, 2006)
=============================
*Current ratio 0.39
*Quick ratio 0.37
*Liabilities to
assets 0.98
*Net profit
margin (%) 0.10
*Return on total
assets (%) 0.14
*Inventory
/Turnover ×365 7 days
*Accounts
receivable/Turnover ×365 61 days
*Turnover/Total
assets 1.45
*Cost of goods
sold/Turnover 0.95
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC appears LARGE.
l
SC has no short-term loan in 2006, but its accounts
payable appears LARGE.
l
SC’s turnover is in an acceptable level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
A credit line up to USD 5,000 would
appear to be within SC’s capacities.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)