MIRA INFORM REPORT
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Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
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Name : |
JAMBROS INC. |
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Registered Office : |
Qutou Science Park, Yujiawu
Township, Tongzhou District, Beijing 101105 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.08.2000 |
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Com. Reg. No.: |
110112001646329 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Producing and Selling Carpet |
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 400,000 |
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Status : |
Moderate |
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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) |
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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
JAMBROS
INC.
QUTOU SCIENCE PARK, YUJIAWU TOWNSHIP,
TONGZHOU DISTRICT,
BEIJING 101105 PR CHINA
TEL: 86 (0) 10-80521692 FAX: 86 (0) 10-80529162
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUG. 29, 2000
REGISTRATION NO. :
110112001646329
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 170
REGISTERED CAPITAL : CNY 19,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 96,070,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 73,480,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 400,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4310=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 Ren Min Bi
Note: SC is also known as “Beijing Wanshijie Carpet Co., Ltd.”
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 Aug. 29, 2000.
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 producing
carpet; import and export of commodity, agency and technology; selling carpet, mechanical
equipment, instrument, furniture, needles textiles, building materials, daily
necessities; economic and trade consulting; lease mechanical equipment.
SC is
mainly engaged in producing and selling carpet.
Mr. Ma
Jin is chairman, legal representative & general manager of
SC at present.
SC is known
to have approx. 170
employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in Beijing. Our checks reveal that SC owns the
total premise about 23,000 square meters.
http://www.jambrosinc.com/
The
design is professional and the content is well organized. At present it is in English version.
Email: dandanli@jambrosinc.com
No significant events or changes were found during our checks with local
AIC.
MAIN
SHAREHOLDERS:
Name
% of
shareholdings
Ma Jin 70
Ma Ye 30
l
Chairman, Legal Representative & General
Manager:
Mr. Ma Jin, ID#: 110101630712301, born in 1963. He is currently responsible for the overall management of SC
Working Experience(s):
At present Working in SC as chairman, legal representative & general manager
Also working in Beijing Wanshijie Machine Weaving Carpet Co., Ltd. (in Chinese Pinyin) as legal representative
l
Supervisor:
Ma Ye
SC is
mainly engaged in producing and selling carpet.
SC’s products
mainly include: tapestry, carpet, etc.
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 20% of its products in domestic
market, and 80% to overseas market, mainly America, U.K., Germany, Sweden and
Malaysia.
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 refused to release its main customers and suppliers.
Beijing Wanshijie Machine Weaving Carpet Co.,
Ltd. (in Chinese Pinyin)
According to SC's website:
Jambros Europe GmbH
=================
Tel: 0049 40 7975 5679 11
Fax: 0049 40 7975 5679 13
Email: Jambros.europe@yahoo.de
Jambros America LLC
=================
Tel: 001-732-640-1765
Fax: 001-732-640-1767
Email: info@jambrosamerica.com
SC is said to have subsidiaries, but the
details are not available.
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.
Standard
Chartered Bank (China) Limited
AC#: 3513380943
Relationship:
Normal
Balance Sheet
Unit: CNY’000
|
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As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
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Cash & bank |
3,070 |
3,880 |
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Inventory |
18,350 |
20,670 |
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Accounts
receivable |
35,340 |
29,120 |
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Advances to
suppliers |
3,760 |
3,950 |
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Other accounts
receivable |
14,060 |
20,650 |
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Prepaid expenses |
330 |
450 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
74,910 |
78,720 |
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Fixed assets net
value |
19,820 |
18,190 |
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Project under
construction |
0 |
0 |
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Long term
investment |
6,480 |
6,480 |
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Intangible and
other assets |
16,240 |
16,240 |
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------------------ |
------------------ |
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Total assets |
117,450 |
119,630 |
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============= |
============= |
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Short loans |
23,000 |
29,290 |
|
19,410 |
16,420 |
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Advances from
clients |
4,460 |
0 |
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Welfare payable |
10 |
0 |
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Accrued payroll |
350 |
0 |
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Taxes payable |
-830 |
-1,000 |
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Surcharge payable |
0 |
0 |
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Other accounts
payable |
2,900 |
1,440 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
49,300 |
46,150 |
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Long-term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
49,300 |
46,150 |
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Equities |
68,150 |
73,480 |
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------------------ |
------------------ |
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Total
liabilities & equities |
117,450 |
119,630 |
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============= |
============= |
Income Statement
Unit: CNY’000
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|
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
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Turnover |
64,300 |
96,070 |
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Cost of goods sold |
56,120 |
86,490 |
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Taxes and additional of main operations |
0 |
40 |
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Sales expense |
4,710 |
5,230 |
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Management expense |
3,800 |
3,520 |
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Finance expense |
2,590 |
2,100 |
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Income from
other operations |
100 |
0 |
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Other business expense |
40 |
0 |
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Investment
income |
0 |
0 |
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Non-operating
income |
210 |
770 |
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Non-operating expense |
0 |
0 |
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Profit before
tax |
-2,650 |
-540 |
|
0 |
0 |
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Profits |
-2,650 |
-540 |
Important
Ratios
=============
|
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Current ratio |
1.52 |
1.71 |
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*Quick ratio |
1.15 |
1.26 |
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*Liabilities
to assets |
0.42 |
0.39 |
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*Net profit
margin (%) |
-4.12 |
-0.56 |
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*Return on
total assets (%) |
-2.26 |
-0.45 |
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*Inventory
/Turnover ×365 |
104 days |
79 days |
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*Accounts
receivable/Turnover ×365 |
201 days |
111 days |
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*Turnover/Total
assets |
0.55 |
0.80 |
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* Cost of
goods sold/Turnover |
0.87 |
0.90 |
PROFITABILITY: FAIR
l
The turnover of SC appears average in both years,
and it increased in 2010.
l
SC’s net profit margin appears fair in both years.
l
SC’s return on total assets appears fair in both
years.
l
SC’s cost of goods sold is average in 2009, but
fairly high in 2010, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears average in both years.
l
The accounts receivable of SC appears fairly large
in both years.
l
SC’s short-term loan appears fairly large in both
years.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable
SC is considered medium-sized in its line with fairly stable financial
conditions. The large amount of accounts receivable and short-term loan could
be a threat to SC’s financial condition. A credit line at the above amount
appears to be beyond SC’s capacities, while a credit line up to USD 400,000 is
recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.17 |
|
UK Pound |
1 |
Rs.73.72 |
|
Euro |
1 |
Rs.64.26 |
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 |
|
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.