MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BEIJING DAJIA
HONESTY LIVESTOCK IMPORT & EXPORT CO., LTD. |
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Registered Office : |
Room 323, Zhongding Plaza, B Blg, No.18 North 3rd Ring West Road, Haidian
District, Beijing, 100098 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.04.2004 |
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Com. Reg. No.: |
1101081683489 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Business. |
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 : |
USD 3,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
BEIJING DAJIA
HONESTY LIVESTOCK IMPORT & EXPORT CO., LTD.
ROOM 323, ZHONGDING PLAZA, B BLG, NO.18
NORTH 3RD RING WEST ROAD, HAIDIAN DISTRICT, BEIJING, 100098 PR CHINA
TEL: 0086-10-62122751 FAX:
0086-10-62123070
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 9, 2004
REGISTRATION NO. :
1101081683489
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. LI YONGGANG (CHAIRMAN)
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 670,000 (AS OF DEC. 31,
2007)
EQUITIES :
CNY 520,000 (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 3,000
MARKET CONDITION :
FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.86351 = 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 Apr. 9, 2004.
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 commodities and technologies, excluding export commodities limited or prohibited by the state; 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 international trade.
Mr. Li Yonggang
has been legal representative and chairman of SC since 2004.
SC is known to have approx. 20 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 about 70 square meters.
http://www.honestock.com/main.asp The design is professional and the content is
well organized. At present it is both in Chinese and English versions.
E-Mail: honesty@dejuxe.com.cn
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
BEIJING DEJUXE LIVESTOCK
TECHNOLOGY CO., LTD. 20
Li Yonggang 80
Beijing Dejuxe
Livestock Technology Co., Ltd.
===================================
Beijing Dejuxe Livestock Technology Co. Ltd is
a high and new-tech enterprise of animal husbandry in China. It passed the
verifications of ISO9001:2000 and ISO14001; it is also the first enterprise in
feed production industry in China succeeded in the verification of HACCP.
(http://www.dejuxe.com.cn/en/ )
l
Legal representative and chairman:
Mr. Li Yonggang, about 44 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as chairman and legal representative.
SC is mainly
engaged in importing and exporting business.
SC’s services mainly include: import & export service to various commodities,
live and fresh goods fast release and relative policy and rules consultation.
SC sources its merchandises 90% from the overseas market and 10% from
domestic market. SC sells 90% of its merchandises in domestic market, and 10%
to overseas market.
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.
*Major Supplier*
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Beijing Jiuding Co., Ltd.
*Major Customer*
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Beijing Kaiyuan Feed 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.
Agriculture Bank
of China Beijing Sub-branch
AC#050701040008486
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2006 |
as
of Dec. 31, 2007 |
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Cash & bank |
3,870 |
2,650 |
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Bills receivable |
0 |
0 |
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Accounts
receivable |
0 |
0 |
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Other
receivables |
0 |
0 |
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Advances to
suppliers |
130 |
0 |
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Inventory |
0 |
0 |
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Prepaid expenses |
0 |
20 |
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Other current
assets |
0 |
0 |
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------------------ |
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Current assets |
4,000 |
2,670 |
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Fixed assets |
30 |
30 |
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Fixed assets net
value |
30 |
30 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
500 |
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Other assets |
0 |
0 |
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Total assets |
4,030 |
3,200 |
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============= |
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Short loans |
0 |
0 |
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Bills payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Welfare payable |
70 |
90 |
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Advances from
clients |
3,370 |
2,100 |
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Accrued payroll |
20 |
0 |
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Tax payable |
0 |
0 |
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Other payable |
0 |
490 |
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Surcharge
payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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Current
liabilities |
3,460 |
2,680 |
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Long term
liabilities |
0 |
0 |
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------------------ |
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Total
liabilities |
3,460 |
2,680 |
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Equities |
570 |
520 |
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Total
liabilities & equities |
4,030 |
3,200 |
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Income Statement
Unit: CNY’000
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as of Dec. 31, 2006 |
as of Dec. 31, 2007 |
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Turnover |
330 |
670 |
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Cost of goods
sold |
0 |
0 |
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Sales expense |
0 |
0 |
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Management expense |
450 |
690 |
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Finance expense |
-20 |
-30 |
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Profit before
tax |
-100 |
50 |
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Less: profit tax |
0 |
90 |
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Profits |
-100 |
-40 |
Important Ratios
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as
of Dec. 31, 2006 |
as
of Dec. 31, 2007 |
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*Current ratio |
1.16 |
1.00 |
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*Quick ratio |
1.16 |
1.00 |
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*Liabilities to
assets |
0.86 |
0.84 |
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*Net profit
margin (%) |
-30.30 |
-5.97 |
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*Return on
total assets (%) |
-2.48 |
-1.25 |
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*Inventory
/Turnover ×365 |
0 |
0 |
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*Accounts
receivable/Turnover ×365 |
0 |
0 |
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*Turnover/Total
assets |
0.08 |
0.21 |
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* Cost of goods
sold/Turnover |
0 |
0 |
PROFITABILITY:
FAIR
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The turnover of SC appears fair in its line, and it increased in 2007.
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SC’s net profit margin is poor in 2006 and fair in 2007.
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SC’s return on total assets is fair.
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a normal level.
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SC’s quick ratio is maintained in a normal level.
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There’s no inventory of SC in 2007.
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There’s no accounts receivable of SC in 2007.
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There’s no short-term loan of SC in 2007.
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SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
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The debt ratio of SC is fairly high.
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The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: FAIR.
SC is considered small-sized in its line with fair financial conditions.
A credit line at the above amount appears to be beyond SC’s capacities, while a
credit line up to USD 3,000 is recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)