MIRA INFORM REPORT
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Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
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Name : |
LUOYANG DIRON PART TRADING CO., LTD. |
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Registered Office : |
3-1508, Wenxing Modern City, No 3, Lianmeng
Road, Jianxi District, Luoyang City, Henan Province 471003 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
02.01.2008 |
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Com. Reg. No.: |
410305120020016 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
Engine Parts |
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 3,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
LUOYANG DIRON PART TRADING CO., LTD.
3-1508, WENXING
MODERN CITY, NO 3, LIANMENG ROAD
JIANXI district,
LUOYANG city, HENAN province 471003 PR CHINA
TEL: 86 (0)
379-64249816
FAX: 86 (0)
379-64249806
EXECUTIVE SUMMARY
Date of Registration : JANUARY 2, 2008
REGISTRATION NO. : 410305120020016
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 500,000
staff : 5
BUSINESS CATEGORY :
TRADING
Revenue : CNY 7,670,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 550,000 (AS OF DEC. 31, 2010)
WEBSITE : www.dironpartsgroup.com
E-MAIL : sales@dironpartsgroup.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
3,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.44 = USD 1
Adopted abbreviations
(as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect of
its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 410305120020016 on January
2, 2008.
SC’s Organization Code Certificate
No.: 670087096
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
|
Registered
Capital |
CNY
200,000 |
CNY
500,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Liu Bin |
36 |
|
Yang Xiaobing |
64 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Yang Xiaobing |
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Supervisor |
Liu
Bin |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Liu Bin 36
Yang Xiaobing 64
MANAGEMENT
Yang
Xiaobing, Legal Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 29
Ø
ID# 62282419821128177X
Ø
Qualification: University
Ø
Working experience (s):
From 2008 to present, working in SC as legal
representative, chairman and general manager
Liu
Bin, Supervisor
---------------------------------
Ø
Gender: M
Ø
Age: 29
Ø
ID# 142635198209203119
Ø
Qualification: University
BUSINESS OPERATION
SC’s registered business scope includes selling auto
parts, engineering equipment parts, machinery & parts, electronic
components, hardware tools, metal materials, rubber & plastic products,
textiles, paper products, and cosmetics; importing and exporting the above
commodities.
SC is
mainly engaged in selling engine parts.
SC’s products mainly include:
General set, complete engine
Cylinder head
Cylinder block
Crankshaft
Hyd pump
Water pump
Etc.
Acting Brands: Caterpillar, Cummins, Komatsu, Deutz,
Isuzu, etc.
SC sources its materials 20% from domestic
market, and 80% from overseas market, mainly USA, Japan, South Korea, etc. SC
sells 100% of its products in domestic market, mainly Henan province.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 5
staff at present.
SC rents
an area as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Industrial
and Commercial Bank of China
AC#N/A
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Long term investment |
0 |
0 |
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Total assets |
1,757 |
1,700 |
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------------- |
------------- |
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Long term
liabilities |
0 |
0 |
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Total
liabilities |
1,224 |
1,150 |
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Equities |
533 |
550 |
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------------- |
------------- |
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Revenue |
4,564 |
7,670 |
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Profit before
tax |
23 |
14 |
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Less: profit tax |
8 |
4 |
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Profits |
15 |
10 |
Note: The detailed financials for Y2009 and Y2010 of SC are not filed in
SAIC.
Important Ratios
=============
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.70 |
0.68 |
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*Net profit
margin (%) |
0.33 |
0.13 |
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*Return on
total assets (%) |
0.85 |
0.59 |
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*
Revenue/Total assets |
2.60 |
4.51 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average, and
it was rising greatly in 2010.
l
SC’s net profit margin is average in
both years.
l
SC’s return on total assets is average
in both years.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an average level,
comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average in both
years.
l
The risk for SC to go bankrupt is
average.
Overall
financial condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable
financial conditions. A credit line at the above amount appears beyond SC’s
capacities, while a credit line up to USD 3,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.80 |
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UK Pound |
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.63.11 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.