MIRA
INFORM REPORT
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Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TECH IMPORT INT’L LLC |
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Registered Office : |
Room 502, No. 196 Xinjinqiao Road, Pudong New Area
Shanghai 201206 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.04.2002 |
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Com. Reg. No.: |
3102282026252 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Lighting Materials |
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No. of Employees : |
10 |
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 20,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 and address
TECH IMPORT INT’L LLC
ROOM 502, NO. 196 XINJINQIAO ROAD, PUDONG NEW AREA
SHANGHAI 201206 PR CHINA
TEL: 86 (0) 21-50311727
FAX: 86 (0) 21-58990053
EXECUTIVE SUMMARY
Date of Registration : april 12, 2002
REGISTRATION NO. : 3102282026252
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 1,000,000
staff :
10
BUSINESS CATEGORY : trading
Revenue :
CNY 129,462,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 3,258,000 (AS OF DEC. 31, 2010)
WEBSITE : www.techimport.com
E-MAIL :
sales@techimport.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 6.34 = 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’s major
operating address should be the heading one, but the employee refused to
release if SC has other office locates in the given address-Room No. 1104,
Global Trade Centre, No. 15, Wing King Road, Kwai Chung, N,T. Hong Kong.
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 3102282026252 on April 12, 2002.
SC’s Organization Code Certificate No.:
73811522-6
SC’s Tax No.: 310228738115226
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
2003 |
Registered capital |
CNY 500,000 |
cny 1,000,000 |
|
2006 |
Shareholder (s) |
Wei Gang 90% Qian Xinmiao 10% |
Wei Gang 90% Qian Li 10% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Wei Gang |
90 |
|
Qian Li |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Wei Gang |
|
General Manager |
Wei Zhongchao |
|
Supervisor |
Qian Li |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Wei Gang 90
Qian Li 10
MANAGEMENT
Wei Gang , Legal
Representative and Chairman
----------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2002 to present, working in SC as legal
representative and chairman
Also working in Shanghai Tech Import New Energy Technology
Co., Ltd. as legal representative
Wei
Zhongchao , General Manager
--------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as general manager
Qian
Li , Supervisor
-----------------------------------
Ø
Gender: M
Ø
Qualification:
University
Also as principal of Tech Import Int’l LLC
Branch
BUSINESS OPERATION
SC’s registered business scope includes selling lighting materials,
electronic equipment, ceramics, metals, industrial graphite, quartz artificial
sapphire materials, furniture, tractors, auto parts; importing and exporting
various kinds of commodities and technology, in accordance with the license.
SC is mainly
engaged in selling lighting materials.
SC’s products
mainly include:
Garden
lighting
Camping
lighting
UV
lighting
Wall
lighting
Flash
Light
HID
Street lamp
CFL
Street lamp
LED
Street lamp
Solar/Wind
Street lamp
SC sources its materials 70% from domestic
market, and 30% from overseas market. SC sells 30% of its products in domestic
market, and 70% to overseas market, mainly USA, Europe and India.
The buying terms
of SC include T/T, L/C 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. 10 staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is known to have a branch
at present,
n
Tech Import Int’l LLC Branch
--------------------------------------------
Date of Registration: May 26, 2006
Registration No.: 3102282026252150001
Legal Form: Branch
Related Company,
n
Shanghai Tech Import New Energy Technology Co., Ltd.
Date of Registration: Jan. 6, 2011
Registration No.: 310116002317238
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 3,000,000
Legal Representative: Wei Gang
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
Basic Bank:
China
Everbright Bank Shanghai Branch
AC#: 083651120100306014274
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
818 |
1,403 |
|
|
Accounts
receivable |
15,108 |
16,842 |
|
Advances to
suppliers |
20 |
19 |
|
Other receivable |
6,504 |
6,990 |
|
Inventory |
207 |
109 |
|
Subsidies receivable |
1,980 |
3,208 |
|
Other current
assets |
2 |
0 |
|
|
------------------ |
------------------ |
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Current assets |
24,639 |
28,571 |
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Fixed assets |
4,290 |
5,266 |
|
Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
|
Long-term investment |
1,000 |
1,000 |
|
Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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|
------------------ |
------------------ |
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Total assets |
29,929 |
34,837 |
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|
============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
22,364 |
28,115 |
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Wages payable |
20 |
0 |
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Taxes payable |
37 |
456 |
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Advances from
clients |
0 |
0 |
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Other payable |
5,148 |
2,994 |
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Other current
liabilities |
0 |
14 |
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------------------ |
------------------ |
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Current
liabilities |
27,569 |
31,579 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
27,569 |
31,579 |
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Equities |
2,360 |
3,258 |
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------------------ |
------------------ |
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Total
liabilities & equities |
29,929 |
34,837 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
|
Revenue |
74,446 |
129,462 |
|
Cost of sales |
70,626 |
121,180 |
|
Taxes and surcharges |
124 |
867 |
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Sales expense |
1,410 |
2,827 |
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Management expense |
2,361 |
2,883 |
|
Finance expense |
-261 |
438 |
|
Profit before
tax |
226 |
1,266 |
|
Less: profit tax |
45 |
316 |
|
181 |
950 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.89 |
0.90 |
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*Quick ratio |
0.89 |
0.90 |
|
*Liabilities
to assets |
0.92 |
0.91 |
|
*Net profit
margin (%) |
0.24 |
0.73 |
|
*Return on total
assets (%) |
0.60 |
2.73 |
|
*Inventory /
Revenue ×365 |
2 days |
1 day |
|
*Accounts
receivable/ Revenue ×365 |
75 days |
48 days |
|
*
Revenue/Total assets |
2.49 |
3.72 |
|
* Cost of
sales / Revenue |
0.95 |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average, and it was
rising significantly 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.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fair
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC appears large.
l
SC has no short-term loans in both years.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high 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 up to USD 20,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
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.