MIRA
INFORM REPORT
|
Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ZHANGJIAGANG CITY SAIBO SCIENCE & TECHNOLOGY CO., LTD. |
|
|
|
|
Registered Office : |
Zhangjiagang Economy Development Area, Jiangsu Province
215600 pr |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
19.09.2003 |
|
|
|
|
Com. Reg. No.: |
320582000063047 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Manufacturing and Selling Mechanical Equipment |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
UP TO USD 20,000 |
|
Status : |
Small Company |
|
Payment Behaviour : |
No Complaints |
|
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 31st, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company name and address
ZHANGJIAGANG CITY SAIBO SCIENCE & TECHNOLOGY CO., LTD.
Zhangjiagang Economy Development Area, Jiangsu Province
215600 pr
TEL: 86 (0) 512-58162333
FAX: 86 (0) 512-58162928
EXECUTIVE SUMMARY
Date of Registration :
September 19, 2003
REGISTRATION NO. :
320582000063047
LEGAL FORM :
Limited Liabilities Company
CHIEF EXECUTIVE :
xue jian (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 580,000
staff :
98
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 44,700,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 3,550,000 (AS OF DEC. 31, 2010)
WEBSITE :
www.sbjx.com
E-MAIL :
daisy@sbjx.com
PAYMENT :
AVERAGE
Recommended Credit Limit :
UP TO USD 20,000
MARKET CONDITION :
average
FINANCIAL CONDITION : Fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.43 = USD 1
Adopted abbreviations (as
follows)
SC - Subject Company (the company inquired by you)
N/A – Not available
CNY –
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.: 320582000063047 on september 19, 2003.
SC’s Organization Code Certificate No.: 753940777
SC’s registered capital: cny 580,000
SC’s paid-in capital: cny 580,000
No significant changes of SC have been noted in SAIC since
its incorporation.
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name
of Shareholder (s) |
% of
Shareholding |
|
Xue Jian |
68 |
|
Xue Kuan |
16 |
|
Wu Xuebiao |
16 |
SC’s
Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Xue Jian |
|
Supervisor |
Wu Xuebiao |
RECENT DEVELOPMENT
Honors:
Quality Trustworthy
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Xue Jian 68
Xue Kuan 16
Wu Xuebiao 16
MANAGEMENT
Xue Jian
Legal Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------
Gender: M
Age: 42
ID# 320219196907195030
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and
general manager
Wu Xuebiao Supervisor
--------------------------------------------
Gender: M
Age: 43
ID# 320219196809205039
Qualification: University
BUSINESS OPERATION
SC’s registered business scope
includes manufacturing and selling general machinery, purchasing and
selling building and decorating materials, textile raw materials and products,
hardware, chemical, operating and acting as an agent of importing and exporting
various kinds of commodities and technology, excluding the goods forbidden by
the government.
SC is mainly engaged in manufacturing and selling mechanical
equipment
SC’s products mainly include: cold press welder.
Roofing panel roll forming machine
Wall panel forming machine
Corrugated forming machine
single press mold steel tile forming
machine
Double press mold steel tile forming
machine
Metal deck forming machine
C&Z purlin interchangeable forming
machine
Three waves guard rail forming machine
Gutter forming machine
Etc.
SC sources its materials 100% from domestic market, mainly
The buying terms of SC include T/T and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff
& Office:
--------------------------
SC is known to have approx. 98 staff at present.
SC rents an area as its operating office & factory of
approx. 3,000 sq. meters at the heading address.
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
The bank information of SC is not filed in SAIC.
FINANCIALS
Balance
Sheet
|
Unit:
CNY’000 |
As of Dec. 31, 2010 |
|
6,110 |
|
|
Accounts receivable |
-210 |
|
Advances to suppliers |
0 |
|
Other receivable |
30 |
|
Inventory |
850 |
|
Non-current assets within one year |
0 |
|
Other current assets |
0 |
|
|
------------------ |
|
Current assets |
6,780 |
|
Fixed assets |
5,760 |
|
Construction in progress |
0 |
|
Intangible assets |
0 |
|
Deferred income tax assets |
0 |
|
Other non-current assets |
1,220 |
|
|
------------------ |
|
Total assets |
13,760 |
|
|
============= |
|
Short-term loans |
0 |
|
Notes payable |
0 |
|
Accounts payable |
4,000 |
|
Wages payable |
0 |
|
Advances from clients |
5,280 |
|
Other payable |
500 |
|
Other current liabilities |
430 |
|
|
------------------ |
|
Current liabilities |
10,210 |
|
Non-current liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
10,210 |
|
Equities |
3,550 |
|
|
------------------ |
|
Total liabilities & equities |
13,760 |
|
|
============= |
Income
Statement
|
Unit:
CNY’000 |
As of Dec. 31, 2010 |
|
Revenue |
44,700 |
|
Cost of sales |
39,350 |
|
Sales expense |
1,370 |
|
Management
expense |
2,200 |
|
Finance expense |
160 |
|
Profit before tax |
1,340 |
|
Less: profit tax |
330 |
|
1,010 |
Important
Ratios
=============
|
|
As of Dec. 31, 2010 |
|
*Current ratio |
0.66 |
|
*Quick ratio |
0.58 |
|
*Liabilities to assets |
0.74 |
|
*Net profit margin (%) |
2.26 |
|
*Return on total assets (%) |
7.34 |
|
*Inventory / Revenue ×365 |
7
days |
|
*Accounts receivable/ Revenue ×365 |
-- |
|
* Revenue/Total assets |
3.25 |
|
* Cost of sales / Revenue |
0.88 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is fairly good.
SC’s cost of goods sold is average, comparing with its
revenue.
LIQUIDITY:
FAIR
The current ratio of SC is maintained in a fair level.
SC’s quick ratio is maintained in a fair level.
The inventory of SC is maintained in an average level.
SC has no short-term loans in 2010.
SC’s revenue is in an average level, comparing with the size
of its total assets.
LEVERAGE:
AVERAGE
The debt ratio of SC is average.
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 up to USD 20,000 would appear to be within
SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.51 |
|
Euro |
1 |
Rs.64.76 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.