MIRA
INFORM REPORT
|
Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI TALY IMPORT & EXPORT CO., LTD |
|
|
|
|
Registered Office : |
Room 1601 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
18.01.2006 |
|
|
|
|
Com. Reg. No.: |
3101152025410 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
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. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME &
ADDRESS
SHANGHAI TALY IMPORT & EXPORT CO., LTD.
ROOM 1601
TEL: 86 (0) 21-58821706
FAX: 86 (0) 21-58821703
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 18, 2006
REGISTRATION NO. : 3101152025410
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. WU GENXING (CHAIRMAN)
STAFF STRENGTH :
7
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
cny 44,020,000 (AS OF DEC. 31, 2006)
EQUITIES :
cny 1,060,000 (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.52= US$1 AS OF
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 Jan. 18, 2006.
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; selling machines, chemicals, computers and handicrafts.
SC is mainly engaged in international trade.
Mr. Wu Gen Xing has been chairman of SC since 2006.
SC is known to have approx. 7 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.sh-taly.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
Wu Genxing 10
Wu Yi 90
Chairman and General Manager:
Mr. Wu Gen Xing in his
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: cementing substances, cosmetics and
equipment parts.
SC sources its materials 60% from domestic market, and 40% from the
overseas market, mainly European countries. SC sells 40% of its products in
domestic market, and 60% to the overseas market, mainly
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Clients:
===========
Shenzhen Weining Commercial Trade Co., Ltd.
Coty International Trade (
*Major Supplier:
============
Coty Company (
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 refused to
release any information of its suppliers and the trade reference
was not available.
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 Pudong Sub-branch
AC#：31001520313050011160
Relationship:
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2006 |
|
Cash & bank |
2,610 |
|
Advances to suppliers |
0 |
|
Accounts receivable |
330 |
|
Inventory |
4,000 |
|
Other receivables |
260 |
|
Other current assets |
10 |
|
|
------------------ |
|
Current assets |
7,210 |
|
Fixed assets net value |
490 |
|
Projects under construction |
0 |
|
Long term investment |
0 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
7,700 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
7,340 |
|
Advances from clients |
0 |
|
Taxes payable |
-1,760 |
|
Salaries payable |
0 |
|
Other payable |
1,060 |
|
Other current liabilities |
0 |
|
|
------------------ |
|
Current liabilities |
6,640 |
|
Long term liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
6,640 |
|
Equities |
1,060 |
|
|
------------------ |
|
Total liabilities & equities |
7,700 |
|
|
============= |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2006 |
|
Turnover |
44,020 |
|
Cost of goods sold |
37,630 |
|
Sales expense |
5,800 |
|
Management expense |
740 |
|
Finance expense |
-40 |
|
Profit before tax |
60 |
|
Less: profit tax |
0 |
|
Profits |
60 |
Important
Ratios
=============
|
|
2006 |
|
*Current ratio |
1.09 |
|
*Quick ratio |
0.48 |
|
*Liabilities to assets |
0.86 |
|
*Net profit margin (%) |
0.14 |
|
*Return on total assets (%) |
0.78 |
|
*Fixed assets/Total assets |
0.06 |
|
*Inventory /Turnover ×365 |
33days |
|
*Accounts receivable/Turnover ×365 |
3days |
|
*Turnover/Total assets |
5.72 |
|
* Cost of goods sold/Turnover |
0.85 |
PROFITABILITY: AVERAGE
The turnover of SC appears average in 2006.
SC’s net profit margin is average in 2006.
SC’s return on total assets is average in 2006.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a normal level in 2006.
SC’s quick ratio is maintained in a fair level in 2006.
The accounts receivable of SC is average.
The inventory of SC is slightly large.
The accounts payable of SC appears TOO LARGE
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
The risk for SC to go bankrupt is above average.
Overall financial condition of the SC:
Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. Credit dealings with SC should be confined into small amount at
present.
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. |
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%)