MIRA INFORM
REPORT
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Report Date : |
08.01.2011 |
IDENTIFICATION DETAILS
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Name : |
Beijing LUCKYSTAR CO LTD |
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Registered Office : |
Room 1809, Block A, World Olympic International Center, No. 101, Shaoyaoju Beili, Chaoyang District, Beijing, 100029 PR China |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.11.2004 |
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Com. Reg. No.: |
110105007597726 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Chemical
Raw Materials. |
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 10,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 & Address
BEIJING LUCKYSTAR Co., Ltd.
room
1809, block a, WORLD Olympic INTERNATIONAL CENTRE, NO. 101, SHAOYAOJU BEILI,
chaoyang district,
101 A1809
TEL:
86 (0) 10-84351698 FAX: 86 (0) 10-84351678
EXECUTIVE SUMMARY
INCORPORATION DATE : november
3, 2004
REGISTRATION
NO. : 110105007597726
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF
STRENGTH : 17
REGISTERED
CAPITAL :
CNY 1,000,000
BUSINESS
LINE : TRADING
TURNOVER : CNY 72,710,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 1,480,000 (AS OF DEC. 31, 2009)
PAYMENT
: AVERAGE
RECOMM.
MARKET
CONDITION : AVERAGE
FINANCIAL
CONDITION : FAIRly stable
OPERATIONAL
TREND :
STEADY
GENERAL
REPUTATION : AVERAG
EXCHANGE RATE : CNY6.65 = USD 1 AS
OF
Adopted abbreviations
ANS - amount not
stated
NS - not stated
SC - subject company
(the company inquired by you)
NA - not available
CNY -
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 November 3, 2004.
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 technical extension services, conference services,
importing and exporting of goods and technology, selling chemical products.
SC is mainly engaged
in selling chemical raw materials.
Mr. Li
Fagen has been legal representative and chairman of SC since 2004.
SC is known to
have approx. 17 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Beijing. Our
checks reveal that SC rents the total premise about 200 square meters.
http://www.luckystarchem.com/ The design is professional and the content is
well organized. At present the web site is both in Chinese and English
versions.
Email: frankfan@luckystarchem.com
Changes
of its registered information are as follows:
|
Date
of change |
Item |
Before the
change |
After the change |
|
2008 |
Registration No. |
1101052759772 |
Present one |
MAIN
SHAREHOLDERS:
Name % of Shareholding
Li Fagen 52
Tian Kexin 48
l
Legal representative and chairman:
Mr. Li Fagen, born in 1956, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present
Working in SC as
chairman and legal representative.
l
Supervisor:
Tian Kexin
SC is mainly
engaged in selling chemical raw materials.
SC’s products mainly include intermediate, pesticide and chemical
equipment, etc.
SC sources its materials 20%
from domestic market, and 80% from overseas market, mainly
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.
SC
is not known to have any 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.
Bank of
AC# N/A
Relationship:
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
Cash & bank |
8,640 |
7,070 |
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Inventory |
4,810 |
6,410 |
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Accounts
receivable |
980 |
630 |
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Advances to
suppliers |
1,470 |
430 |
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Other
receivables |
20 |
0 |
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Other current
assets |
0 |
2,100 |
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|
------------------ |
------------------ |
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Current assets |
15,920 |
16,640 |
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Fixed assets net
value |
80 |
220 |
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Long term
investment |
0 |
0 |
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Projects under
construction |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
16,000 |
16,860 |
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=========== |
=========== |
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Short loan |
0 |
0 |
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Accounts payable |
1,810 |
5,930 |
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Bills payable |
0 |
0 |
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Advances from
clients |
6,370 |
930 |
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Taxes payable |
150 |
-130 |
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Other Accounts
payable |
6,310 |
8,580 |
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Other current
liabilities |
30 |
70 |
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------------------ |
------------------ |
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Current
liabilities |
14,670 |
15,380 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
14,670 |
15,380 |
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Equities |
1,330 |
1,480 |
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------------------ |
------------------ |
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Total
liabilities & equities |
16,000 |
16,860 |
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=========== |
=========== |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2009 |
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Turnover |
72,710 |
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Cost of goods sold |
68,020 |
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Sales expense |
2,670 |
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Management expense |
1,770 |
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Finance expense |
50 |
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Profit before tax |
200 |
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Less: profit tax |
50 |
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Profits |
150 |
Important Ratios
=============
|
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As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
*Current ratio |
1.09 |
1.08 |
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*Quick ratio |
0.76 |
0.67 |
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*Liabilities
to assets |
0.92 |
0.91 |
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*Net profit
margin (%) |
/ |
0.21 |
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*Return on
total assets (%) |
/ |
0.89 |
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*Inventory
/Turnover ×365 |
/ |
32 days |
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*Accounts
receivable/Turnover ×365 |
/ |
3 days |
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*Turnover/Total
assets |
/ |
4.31 |
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* Cost of
goods sold/Turnover |
/ |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in 2009.
l
SC’s net profit margin is average in 2009.
l
SC’s return on total assets is average in 2009.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover in 2009.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both two years.
l
SC’s quick ratio is maintained in a fair level in
both two years.
l
The inventory of SC appears average in both two
years.
l
The accounts receivable of SC appears average in
both two years.
l
SC has no short-term loan in both two years.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets in 2009.
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. A credit line up to USD
10,000 would appear to be within SC’s capacities upon a periodical
review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
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 |
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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.