MIRA
INFORM REPORT
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Report Date : |
03.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CHINA BRILLIANT SUPPLY CHAIN SERVICE CO., LTD. |
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Registered Office : |
20/F, Trade Center, No. 4028 Jintian Road, Futian District, Shenzhen, Guangdong Province, 518035 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.02.2006 |
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Com. Reg. No.: |
440301103149189 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in Supply Chain Service |
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No. of Employees : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 300,000 |
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Status : |
Satisfactory |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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China
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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 and address
CHINA BRILLIANT
SUPPLY CHAIN SERVICE CO., LTD.
20/F, TRADE CENTER, NO. 4028 JINTIAN ROAD,
FUTIAN DISTRICT, SHENZHEN, GUANGDONG PROVINCE, 518035 PR CHINA
TEL: 86 (0)755-82789555 FAX: 86 (0) 755-82789710
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB.
10, 2006
REGISTRATION NO. : 440301103149189
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. ZHANG CHUNHUA (CHAIRMAN)
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE : SUPPLY CHAIN SERVICE
TURNOVER :
CNY 7,582,820,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 56,720,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 300,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3694= 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
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 Feb. 10, 2006.
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 purchasing and selling domestic
vehicles (excluding cars), motorcycles and spare parts, electronic products,
electronic components, computer hardware and software, textiles, garments,
handicrafts, machinery and electronic products, chemical products (excluding
flammable virulent), and other domestic commerce, material supply and marketing
(excluding the products privileged, prohibited or franchised); import and
export of goods and technology(with permit if needed), international freight
forwarding, domestic freight forwarding .
SC is mainly
engaged in supply chain service.
Mr. Zhang
Chunhua has been the legal
representative, chairman and general manager of SC since 2006.
SC is known to have approx.200 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shenzhen. SC’s management declined
to release the detailed information of the premise.
http://www.cbscs.com/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-Mail: sales@cbscs.com
SC has passed ISO series Certificate, and was awarded as Class A Credit
by Banks, The Biggest Taxpayer by Customs, Best Services Provider in the
industry of Surface Mounter, etc.
Changes of SC’s
registered information:
|
Date |
Item |
Before changed |
After changed |
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Registration No. |
4403011204039 |
The present one |
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Shareholders (% of shareholding) |
Li Shaoxiong10% Zhang Chunhua90% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Wenhao 3
Ouyang Zhijun 4
Zhang Chunhua 90.5
Zhao Yue 2.5
l
Legal representative, chairman and general manager:
Mr. Zhang Chunhua , ID#: 441602197207220415, born in 1972 with
university education, He is currently responsible for the overall management of
SC.
Working Experience(s):
From 2006 to present Working
in SC as legal representative, chairman and general manager
Supervisor:
=========
Li Shaoxiong ID#:
440301197302082512
SC is mainly engaged in supply chain service.
SC’s service include: order processing, customs declaration of Import and
export, Declaration inspection, Disinfection and Quarantine services,
customs clearance of Logistics, bonded logistics, cargo pick-up,
delivery, storage at Hong Kong airport and wharfs, zero-in-transit rapid
payment, Collection and advancement of payment in Hong Kong, application and
austoms record handling for duty-free equipment import; full-process
commissioned application for the duty levying / exemption certificate, export
drawback, etc.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C, and Credit of 30-60 days.
*Major Suppliers:
============
SAMSUNG
YAMAHA
PHILIPS
SIMENS
*Major Clients:
============
FOXCONN
HISENSE
According
to SC’s website:
Wellside (Hong Kong) Limited
=======================
Add: Room 301, 2 San Po Street, Sheung Shui, NT, Hong Kong
Tel: +00852-26689188/26689183
Fax: +00852-26689819
Shanghai Branch
=============
Add: Room
Tel: +86 021 51807721, 51807723
Fax: +86 021 51807722
Shenzhen Storage
=============
Tel: +86 755 82412960
Fax: +86 755 82412970
The information on SC’s subsidiaries is 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.
SC’s management declined
to release its bank details.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2010 |
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Cash & bank |
2,290,880 |
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Inventory |
76,160 |
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Bills receivable |
0 |
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Accounts
receivable |
724,770 |
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Other Accounts
receivable |
320,090 |
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Advances to
suppliers |
10 |
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To be
apportioned expense |
0 |
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Other current
assets |
20 |
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------------------ |
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Current assets |
3,411,930 |
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Fixed assets net
value |
2,290 |
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Long-term
investment |
1,670 |
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Intangible and
other assets |
0 |
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------------------ |
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Total assets |
3,415,890 |
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============= |
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Short loans |
837,310 |
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Accounts payable |
2,487,370 |
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Advance from
customers |
0 |
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Other Accounts
payable |
40,910 |
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Notes payable |
4,890 |
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Accrued payroll |
1,850 |
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Interest payable |
1,300 |
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Taxes payable |
-14,480 |
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Withdraw the
expenses in advance |
0 |
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Other current
liabilities |
20 |
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------------------ |
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3,359,170 |
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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 |
3,359,170 |
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Equities |
56,720 |
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------------------ |
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3,415,890 |
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============= |
Income Statement
Unit: CNY’000
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As of Dec. 31, 2010 |
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Turnover |
7,582,820 |
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Cost of goods sold |
7,514,430 |
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Taxes and additional of main operation |
3,090 |
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Sales expense |
21,760 |
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Management expense |
26,670 |
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Finance expense |
9,560 |
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Investment
income |
9,630 |
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Non-operating
income |
12,070 |
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Non-operating expense |
1,330 |
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Profit before
tax |
27,660 |
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Less: profit tax |
4,150 |
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Profits |
23,510 |
Important Ratios
=============
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As
of Dec. 31, 2010 |
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*Current ratio |
1.02 |
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*Quick ratio |
0.99 |
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*Liabilities
to assets |
0.98 |
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*Net profit
margin (%) |
0.31 |
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*Return on
total assets (%) |
0.69 |
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*Inventory
/Turnover ×365 |
4 days |
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*Accounts
receivable/Turnover ×365 |
35 days |
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*Turnover/Total
assets |
2.22 |
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* Cost of
goods sold/Turnover |
0.99 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears good 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 high, 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 accounts receivable of SC appears fairly large.
l
The inventory of SC appears average.
l
The short term loan of SC appears large 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 medium-sized in its line with fairly stable financial
conditions. The large amount of short
loans could be a threat to SC’s financial condition. A credit line up to
USD 300,000 appears to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.35 |
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|
1 |
Rs.80.50 |
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Euro |
1 |
Rs.69.14 |
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 |
-- |
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.