MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEIJING UNITED SCIENTIGIC DEVELOPMENT CO.,
LTD. |
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Registered Office : |
5/F South Block Tower C, Raycom Info Tech Park, No.2 Kexueyuan South
Road, Zhongguancun, Beijing, 100080 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.07.2006 |
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Com. Reg. No.: |
110108009787789 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Essence, Spice and Chemical Materials |
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 : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
BEIJING UNITED SCIENTIGIC DEVELOPMENT CO., LTD.
5/F SOUTH BLOCK TOWER C, RAYCOM INFO TECH PARK, NO.2 KEXUEYUAN SOUTH
ROAD, ZHONGGUANCUN, BEIJING, 100080 PR CHINA
TEL: 0086-10-59822015 FAX: 0086-10-59822588
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUL. 18, 2006
REGISTRATION NO. :
110108009787789
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MS. LI LI (CHAIRMAN)
STAFF STRENGTH :
15
REGISTERED CAPITAL :
CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 0 (AS OF DEC. 31, 2006)
EQUITIES :
CNY 996,000 (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
C.O.D. TO SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.01760 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a
limited liabilities co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on Jul. 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 not engage in any
items prohibited by laws, administrative regulation and State Council; able to
engage in items that need permit according to the regulation of the State
Council, after obtaining the permit from relative authorities and the
registration in the AIC; and select to deal with any items that do not
need any permit.
SC is
mainly engaged in importing and exporting essence, spice and chemical
materials.
Ms. Li
Li has been legal representative and chairman of SC since 2006.
SC is known to have approx. 15 employees at
present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Beijing. Our
checks reveal that SC rents the total premise, but SC’s accountant refused to
release the gross area of the premise.
http://www.beijingusd.com/about.asp
The design is professional and the content is
well organized. At present it is both in Chinese and English versions.
E-Mail: glenzhang@beijingusd.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Li 25
Wang Huijing 25
Chen Miaogen 10
Yang Yongqing 40
l
Legal representative and
chairman:
Ms. Li Li, ID# 110102195401170083, 54 years old with
university education. She is currently responsible for the overall management
of SC.
Working Experience(s):
From 1997 to 2006 Worked in New Oriental
Education & Technology Group as office administrator
From 2006 to present Working in
SC as chairman and legal representative.
SC is
mainly engaged in importing and exporting essence, spice and chemical
materials.
SC’s products mainly include: essence, spice, menthol,
dementholised peppermint oil and clove oil.
SC sources its merchandises 40% from the overseas market and
60% from domestic market. SC sells 40% of its merchandises in domestic market,
and 60% to overseas market,
mainly in Europe, America and India.
The buying terms of SC include Check, L/C, T/T 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.
SC declined to
release its banking details.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2006 |
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Cash
& bank |
755 |
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Bills
receivable |
0 |
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Accounts
receivable |
0 |
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Other
receivables |
1,595 |
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Advances to
suppliers |
0 |
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Inventory |
0 |
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Other
current assets |
0 |
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------------------ |
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Current
assets |
2,350 |
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Fixed
assets |
46 |
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Fixed
assets net value |
46 |
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Projects
under construction |
0 |
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Long
term investment |
0 |
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Other
assets |
300 |
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------------------ |
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Total
assets |
2,696 |
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============= |
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Short
loans |
0 |
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Bills
payable |
0 |
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Accounts
payable |
0 |
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Welfare
payable |
0 |
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Advances from
clients |
0 |
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Accrued
payroll |
0 |
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Tax
payable |
0 |
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Other
payable |
500 |
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Surcharge
payable |
0 |
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Other
current liabilities |
0 |
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------------------ |
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Current
liabilities |
500 |
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Long
term liabilities |
1,200 |
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------------------ |
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Total
liabilities |
1,700 |
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Equities |
996 |
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------------------ |
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Total
liabilities & equities |
2,696 |
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============= |
Income Statement
Unit: CNY’000
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as of Dec. 31, 2006 |
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Turnover |
0 |
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Cost of goods
sold |
0 |
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Sales expense |
0 |
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Management expense |
7 |
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Finance expense |
-3 |
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Profit before
tax |
-4 |
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Less: profit tax |
0 |
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Profits |
-4 |
Important Ratios
=============
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as
of Dec. 31, 2006 |
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*Current ratio |
4.70 |
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*Quick ratio |
4.70 |
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*Liabilities
to assets |
0.63 |
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*Net profit margin
(%) |
/ |
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*Return on
total assets (%) |
-0.15 |
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*Inventory
/Turnover ×365 |
0 |
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*Accounts
receivable/Turnover ×365 |
0 |
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*Turnover/Total
assets |
0 |
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* Cost of
goods sold/Turnover |
/ |
PROFITABILITY:
FAIR
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal level.
l
SC’s quick ratio is maintained in a normal level.
l
There’s no inventory of SC in 2006.
l
There’s no accounts receivable of SC in 2006.
l
There’s no short-term loan of SC in 2006.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
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 a short
history. Credit dealings with SC are recommended under secured terms 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%)