MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANHUI YINFENG DAILY COSMETIC Co., Ltd. |
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Registered Office : |
Hezhuang, Jiuxian Town, Taihe County, Fuyang, Anhui Province, 236600
Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.03.2006 |
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Com. Reg. No.: |
341222000003869 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling different sorts of Spices. |
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 40,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
ANHUI YINFENG DAILY COSMETIC Co., Ltd.
hezhuang, jiuxian
town, taihe county,
fuyang, anhui
PROVINCE, 236600 PR CHINA.
TEL: 86 (0)
558-8215368 / 13956796886 FAX: 86 (0)
558-8211001
EXECUTIVE SUMMARY
INCORPORATION DATE : march 6, 2006
REGISTRATION NO. : 341222000003869
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 2,800,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 17,460,000 (AS OF DEC. 31, 2007)
EQUITIES :
CNY 6,440,000 (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 40,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.85 = 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
Note: the given address - West of Santang Town, Taihe County
was SC’s former address.
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 March 6, 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 processing and selling mint, essence and spice;
textiles, chemical raw materials, farm and sideline products; import and export
of various goods and technologies.
SC is mainly
engaged in selling different sorts of spices.
Mr. He Haisen has
been legal representative and chairman of SC since 2006.
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 industrial zone of Fuyang. Our checks reveal that SC
rents the total premise about 500 square meters.
SC is not known to host website of its own at present.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2006-5-23 |
Company name |
Anhui Taihe Yinfeng SpiceCo., Ltd. |
The present one. |
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2007-12-6 |
Address |
West of Santang Town, Taihe County 100 |
The present one |
MAIN SHAREHOLDERS:
Name
% of Shareholding
He Haisheng 35.71
Chang Song 10.71
Jiang Haiqing 26.79
Mei Wei 26.79
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Chairman & General Manager:
Mr. He Haisen, ID # 342123680402769, 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.
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Sales Manager:
Mr. Chang Song, ID # 342123801216051, 28 years old with university
education. He is currently responsible for the daily management of SC.
Working Experience(s):
From 2006 to present Working
in SC as sales manager.
SC is mainly
engaged in selling different sorts of spices.
SC’s products
mainly include menthol, peppermint oil dementholized, peppermint, camphol, etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market, mainly U.S.A. and Europe. SC sells 70% of
its products in domestic market, and 30% to overseas market, mainly Southeast
Asian market.
The buying terms of SC include Check, T/T, L/C 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.
Bank of China
AC#48033898091001
Relationship:
Normal.
Financial Information
Unit: CNY’000
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as of Dec. 31, 2006 |
as of Dec. 31, 2007 |
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Total
liabilities |
14 |
6,190 |
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Shareholders
equities |
2,806 |
6,440 |
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Total Assets |
2,820 |
12,630 |
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Turnover |
1,396 |
17,460 |
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Net profit |
5 |
9 |
Important Ratios
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as of Dec. 31, 2006 |
as of Dec. 31, 2007 |
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*Liabilities
to assets |
0.005 |
0.49 |
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*Net profit
margin (%) |
0.36 |
0.05 |
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*Return on
total assets (%) |
0.18 |
0.07 |
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*Turnover/Total
assets |
0.50 |
1.38 |
PROFITABILITY:
AVERAGE
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The turnover of SC appears average in its line in 2007.
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SC’s net profit margin is average.
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SC’s return on total assets is average.
LEVERAGE: AVERAGE
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The debt ratio of SC is average.
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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. A credit line at the above amount appears to be beyond SC’s
capacities, while a credit line up to USD 40,000 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.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)