MIRA
INFORM REPORT
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Report Date : |
27.12.2011 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO LIAN YA BOAT Co., Ltd. |
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Registered Office : |
Yangjia Village, Xifu Town Street, Chengyang District, Qingdao,
Shandong Province, 266106 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.03.2007 |
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Com. Reg. No.: |
370214228056233 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling various types of yacht products. |
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No. of Employees : |
62 |
RATING & COMMENTS
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MIRAs 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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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) |
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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 and address
QINGDAO LIAN YA BOAT Co., Ltd.
YANGJIA VILLAGE,
XIFU TOWN STREET, CHENGYANG DISTRICT, QINGDAO, SHANDONG PROVINCE, 266106 PR
CHINA
TEL: 86 (0)
532-87529073/86-15953220048 FAX:
86 (0) 532-87529075
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 9, 2007
REGISTRATION NO. : 370214228056233
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
62
REGISTERED CAPITAL : CNY 750,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 10,506,000
(AS OF DEC. 31, 2010)
EQUITIES :
CNY -52,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.31= 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 Liability Company at local Administration
for industry & commerce (AIC - the official body of issuing and renewing
business license) on Mar. 9, 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.
SCs registered business
scope includes manufacturing and selling rubber boats, rubber boats parts and
accessories, water rescue supplies, sporting goods; import and export of goods
(with permit if needed). (with permit if needed)
SC is mainly
engaged in manufacturing and selling various types of yacht products.
Ms. Han
Qinglian has been the legal
representative, chairman and general manager of SC since 2003.
SC is known
to have approx. 62 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Qingdao. The detailed
information of the area is unspecified.
http://www.lianya-industry.com/ The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: lianyaboat@vip.163.com
; lianyaboat@lianya-industry.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2010-12-28 |
Registered
capital |
CNY 500,000 |
CNY 750,000 |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Han Qinglian
ID # 510623730710192 70
Yang Mingjiu
ID # 510623197009251930 30
l
Legal representative, Chairman and General manager:
Ms. Han Qinglian , ID # 510623730710192, born in 1973.
She is currently responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as legal representative, chairman and general manager
Supervisor:
..
Yang Mingjiu
ID # 510623197009251930
SC is mainly
engaged in manufacturing and selling various types of yacht products.
SCs products
mainly include 2011RIB boat, fiberglass boat, UB
series-A type boat, high speed boat, fishing boat, banana boat, rafting boat,
etc.
SC sources its materials 70% from domestic
market and 30% from overseas market, mainly Korea. SC sells 1% of its products
in domestic market, and 99% to overseas market, mainly Southeast Asia, Europe
and America.
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:
SCs management declined to release its major clients and suppliers.
SC is not known to have the subsidiary at present.
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.
The bank
information is not found in local AIC.
Financial Summary
Unit: CNY000
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as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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Total Liabilities |
3,293 |
3,085 |
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Shareholders equities |
74 |
-52 |
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Total Assets |
3,367 |
3,033 |
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|
------------------ |
------------------ |
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Turnover |
6,253 |
10,506 |
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Profit before tax |
-229 |
-122 |
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Net profit |
-229 |
-122 |
Note: we did not find SCs detailed
financial reports for Yr2009 & Yr2010.
Important
Ratios
=============
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as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
*Liabilities
to assets |
0.98 |
1.02 |
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*Net profit
margin (%) |
-3.66 |
-1.16 |
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*Return on
total assets (%) |
-6.80 |
-4.02 |
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*Turnover/Total
assets |
1.86 |
3.46 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line, and
it increased in 2010.
l
SCs net profit margin is fair.
l
SCs return on total assets is fair.
l
SCs turnover is in an average level in 2009 and in
a fairly good level in 2010, comparing with the size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is too high in 2010.
l
The risk for SC to go bankrupt is high.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
Great caution is required in providing credit to SC and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
|
|
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.68.93 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 SCs 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.