MIRA INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI HUIDU INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
No. 311, Lane 399, Dushi Road, Minhang District,
Shanghai, 201100 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.09.2007 |
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Com. Reg. No.: |
310112000783175 |
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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 2,000 |
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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
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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
SHANGHAI HUIDU
INTERNATIONAL TRADE CO., LTD.
NO. 311, LANE 399, DUSHI ROAD, MINHANG
DISTRICT, SHANGHAI, 201100 PR CHINA
TEL: 86 (0) 21-61361488 FAX: 86 (0) 21-61361485
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 20, 2007
REGISTRATION NO. : 310112000783175
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
CNY 8,760,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 320,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : up to usd 2,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.398 = 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: The given address was the former address of SC.
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 Sep. 20, 2007.
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 import and export of goods and
technology; selling chemical raw materials and products (except dangerous
goods), building materials, decoration materials, textiles, apparel, leather
products, furniture, lamps, kitchen supplies, and daily necessities; indoor and
outdoor decoration; business consulting (except brokerage) (with permit if
needed).
SC is mainly
engaged in international trade.
Ms. Zhao Haiyan
has been the legal representative, chairman and general manager of SC since
2007.
SC is known
to have approx. 10 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. Our checks reveal that SC
rents the total premise about 300 square meters.
http://www.shanghaihuidu.com/ The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
E-mail: jojo-anand@hotmail.com
Changes of SC’s
registered information:
|
Date |
Item |
Before changed |
After changed |
|
2009 |
Registered capital |
CNY 500,000 |
CNY 1,000,000 |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Zhao Haiyan 70
Song Jinrong 30
l
Legal Representative, Chairman and General Manager:
Ms. Zhao Haiyan with university education, she is currently responsible
for the overall management of SC.
Working Experience(s):
From 2007 to present Working
in SC as legal representative, chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include: leather.
SC sources its
materials 100% from the overseas market, mainly India. SC sells 100% of its
products in domestic market.
The buying terms of SC include L/C and Credit of 30-60 days. The payment
terms of SC include T/T and Credit of 30-60 days.
*Major Client:
===========
Nantong Deshi Shoes Industry Co., Ltd.
Note:
SC refused to release its major suppliers.
According to SC’s website:
Namo
& (H.K) Co., Limited
Add:
Unit-E, 15/F, Cheuk Nang Plaza, 250Hennessy Road, Wanchai, Hong Kong
Tel: +852-31757377
Fax: +852-31757536
JSR Exim Enterprises (P)., Ltd.
Add:
Door No.1/19, Plot No.187,
Mob:+91-9943534184
E-mail: Lankesh1969@shanghaihuidu.com
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 records 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 Construction Bank
AC#：31001506700050009347
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2010 |
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Cash & bank |
460 |
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Inventory |
410 |
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Bills receivable |
0 |
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Accounts
receivable |
2,070 |
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Other Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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To be
apportioned expense |
30 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
2,970 |
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Fixed assets net
value |
10 |
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Long-term
investment |
0 |
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Intangible and
other assets |
0 |
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------------------ |
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Total assets |
2,980 |
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============= |
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Short loans |
0 |
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Accounts payable |
1,990 |
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Advance from
customers |
0 |
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Other Accounts
payable |
673 |
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Notes payable |
0 |
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Taxes payable |
-3 |
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Withdraw the
expenses in advance |
0 |
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Other current
liabilities |
0 |
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------------------ |
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2,660 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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------------------ |
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Total
liabilities |
2,660 |
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Equities |
320 |
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------------------ |
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2,980 |
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============= |
Income Statement
Unit: CNY’000
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As of Dec. 31, 2010 |
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Turnover |
8,760 |
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Cost of goods sold |
7,720 |
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Sales expense |
10 |
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Management expense |
1,000 |
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Finance expense |
-30 |
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Profit before
tax |
50 |
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Less: profit tax |
10 |
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Profits |
40 |
Important Ratios
=============
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As
of Dec. 31, 2010 |
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*Current ratio |
1.12 |
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*Quick ratio |
0.96 |
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*Liabilities
to assets |
0.89 |
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*Net profit
margin (%) |
0.46 |
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*Return on
total assets (%) |
1.34 |
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*Inventory
/Turnover ×365 |
17 days |
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*Accounts
receivable/Turnover ×365 |
86 days |
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*Turnover/Total
assets |
2.94 |
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* Cost of
goods sold/Turnover |
0.88 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC appears average.
l
The accounts receivable of SC is large.
l
SC has no short-term loan in 2010.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
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 accounts receivable could be a threat to SC’s financial
condition. A credit line up to USD 2,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.69 |
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UK Pound |
1 |
Rs.75.29 |
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Euro |
1 |
Rs.65.77 |
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.