MIRA INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TECHIMPORT INT’L LLC SHANGHAI |
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Registered Office : |
Room 502 No. 196 Xinjinqiao Road, Pudong,
Shanghai, 201206 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
12.04.2002 |
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Com. Reg. No.: |
3102282026252 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name & address
TECHIMPORT
INT’L LLC SHANGHAI
ROOM 502 NO. 196
XINJINQIAO ROAD, PUDONG,
SHANGHAI, 201206 PR
CHINA
TEL: 86 (0)
21-50311527 FAX: 86 (0) 21-58990053
EXECUTIVE
SUMMARY
INCORPORATION DATE : APR. 12,
2002
REGISTRATION
NO. : 3102282026252
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 21
REGISTERED CAPITAL :
CNY 1,000,000
BUSINESS LINE : INTERNATIONAL TRADING
TURNOVER : CNY 74,440,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 2,360,000 (AS OF
DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 10,000 (PERIODICAL REVIEW)
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.53 = 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 name Techimport International LLC belongs to a U.S.A. registered company and SC uses it as its trade name; the said company is managed by the same management team as SC working from the heading premise.
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 Apr. 12, 2002.
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 selling lighting materials, electronic equipment,
ceramics, metal materials, industrial purposes, quartz artificial sapphire
materials, furniture, tractor and automotive parts; importing and exporting goods
and technologies.
SC is mainly
engaged in international trade.
Mr. Wei Gang has been legal representative and chairman of SC since
2002.
SC is
known to have approx. 21 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in Shanghai. Our checks reveal
that SC owns the total premise about 300 square meters.
http://www.techimport.com The design is professional and the content is
well organized. At present it is in English version.
E-mail: sales@techimport.com
No significant events or changes were found during our
checks with local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wei Gang 90
Qian Li 10
l
Legal representative, chairman and
general manager:
Mr. Wei Gang, in his
Working Experience(s):
From 2002 to present Working in SC as chairman, legal representative and general manager.
l Supervisor:
Qian Li
SC is mainly
engaged in international trade.
SC’s products
mainly include
Solar
Lighting
Recycling
Wind
Biofuels
SC sources its materials 40% from
domestic market, mainly Shanghai and 60% from the oversea market. SC sells 60%
of its products in domestic and 40% to overseas market, mainly Southeast Asia
and India.
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.
Note: SC’s management declined to release its main clients and
suppliers.
Techimport International LLC (U.S.A.)
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.
China Everbright Bank Shanghai Branch
AC#
083651120100306014274
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
Cash & bank |
960 |
810 |
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Inventory |
730 |
200 |
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Accounts
receivable |
560 |
15,100 |
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Advances to
suppliers |
130 |
10 |
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Other
receivables |
1,360 |
6,500 |
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Other current
assets |
160 |
2,010 |
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------------------ |
------------------ |
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Current assets |
3,900 |
24,630 |
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Fixed assets net
value |
4,890 |
5,290 |
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Long term
investment |
0 |
0 |
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Project under
construction |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
8,790 |
29,920 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
4,320 |
22,360 |
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Other payable |
1,060 |
5,140 |
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Taxes payable |
30 |
30 |
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Advances from
clients |
1,190 |
0 |
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Other current
liabilities |
0 |
30 |
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------------------ |
------------------ |
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Current
liabilities |
6,600 |
27,560 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
6,600 |
27,560 |
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Equities |
2,190 |
2,360 |
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------------------ |
------------------ |
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Total
liabilities & equities |
8,790 |
29,920 |
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============= |
============= |
Income Statement
Unit: CNY’000
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|
as of Dec. 31,
2009 |
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Turnover |
74,440 |
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Cost of goods
sold |
70,620 |
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Sales expense |
1,410 |
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Management expense |
2,360 |
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Finance expense |
-260 |
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Profit before tax |
220 |
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Less: profit tax |
40 |
|
Profits |
180 |
Important Ratios
=============
|
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as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
*Current ratio |
0.59 |
0.89 |
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*Quick ratio |
0.48 |
0.89 |
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*Liabilities
to assets |
0.75 |
0.92 |
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*Net profit margin
(%) |
/ |
0.24 |
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*Return on
total assets (%) |
/ |
0.60 |
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*Inventory
/Turnover ×365 |
/ |
1 day |
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*Accounts
receivable/Turnover ×365 |
/ |
74 days |
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*Turnover/Total
assets |
/ |
2.49 |
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* Cost of
goods sold/Turnover |
/ |
0.95 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in 2009.
l
SC’s net profit margin is average in 2009.
l
SC’s return on total assets is average in 2009.
l
SC’s cost of goods sold is fairly high in 2009,
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 in
2008 and normal in 2009.
l
The inventory of SC appears average in both years.
l
The account receivable of SC appears average in
2008 but large in 2009.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fairly good level in 2009,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high in 2009.
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 fairly stable financial conditions.
The large amount of account receivable could be a threat to SC’s financial
condition. A credit line up to USD 10,000 appears acceptable upon a periodical
review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
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UK Pound |
1 |
Rs.72.56 |
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Euro |
1 |
Rs.63.53 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.