MIRA
INFORM REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
HsikWangshan Twinkling Star ImpORT &
ExpORT Company |
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Registered Office : |
Feishuiyan, Xikuangshan Office, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
17.11.2006 |
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Com. Reg. No.: |
431381000003485 |
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Legal Form : |
One Person Limited Liability Company |
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Line of Business : |
International Trade |
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 100,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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
HSIKWANGSHAN
TWINKLING STAR IMPORT & EXPORT COMPANY
Feishuiyan, Xikuangshan Office, Lengshuijiang City, Hunan Province,
417500 Pr China
TEL: 86 (0) 738-5831171
FAX: 86 (0) 738-5831180
EXECUTIVE SUMMARY
INCORPORATION DATE : NOV. 17, 2006
REGISTRATION NO. : 431381000003485
REGISTERED LEGAL FORM : ONE PERSON LIMITED
LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. ZENG FENGREN (CHAIRMAN)
STAFF STRENGTH :
53
REGISTERED CAPITAL : CNY 15,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER : CNY 354,650,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 20,400,000 (AS OF DEC. 31, 2009)
PAYMENT :
average
RECOMM. CREDIT RANGE : up to usd 100,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREN : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.59= USD 1
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 one person limited liability company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license).
Company Status: One-person
Limited Liability Company
Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes exporting stibium, zinc, indium,
lead, cadmium and these byproduct copperish
and technology; importing the materials, machinery, instruments, parts and
technology needed for production.
SC is mainly engaged in international trade.
Mr. Zeng Fengren is now acting as chairman of SC.
SC is known to have approx. 53 employees
at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Lengshuijiang. Our checks
reveal that SC rents the total premise about 450 square meters.
SC is not known to host website of its own at present.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Hsikwangshan Twinkling Star Co., Ltd. (HTS) 100
Tel: 86 738-5831178
Fax: 86 738-5831180
Web: http://www.hksts.com
Chairman:
Mr. Zeng Fengren in his
Working Experience(s):
Now Working in SC as
chairman.
General Manager:
Mr. Wang Rong in his
Working Experience(s):
Now Working in SC
as general manager.
SC is mainly engaged in international trade.
SC’s products mainly include: minerals.
SC sources its materials 70% from domestic market, and 30% from the
overseas market, mainly European countries. SC sells 30% of its products in
domestic market, and 70% to the overseas market, mainly Southeast Asia and
European countries.
The buying terms of SC include Check, 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.
*Major Supplier:
============
Hsikwangshan Twinkling Star Co., Ltd.
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’s suppliers declined to make any
comments.
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.
Industrial and Commercial Bank of China
AC# ：1913010209022128426
Relationship : Normal.
Balance
Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
Cash & bank |
4,020 |
19,880 |
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Inventory |
19,660 |
0 |
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Accounts receivable |
16,380 |
41,520 |
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Advances to suppliers |
0 |
0 |
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Other receivables |
0 |
60 |
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Other current assets |
0 |
0 |
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---------------- |
--------------- |
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Current assets |
40,060 |
61,460 |
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Fixed assets net value |
0 |
0 |
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Projects under construction |
0 |
0 |
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Long term investment |
0 |
0 |
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Other assets |
0 |
0 |
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----------------- |
--------------- |
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Total assets |
40,060 |
61,460 |
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|
============ |
============ |
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Short loans |
0 |
0 |
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Accounts payable |
18,000 |
39,900 |
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Advances from clients |
2,030 |
80 |
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Taxes payable |
-1,900 |
-190 |
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Salaries payable |
0 |
0 |
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Other payable |
1,430 |
1,270 |
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Other current liabilities |
0 |
0 |
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----------------- |
------------------- |
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Current liabilities |
19,560 |
41,060 |
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Long term liabilities |
0 |
0 |
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----------------- |
------------------- |
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Total liabilities |
19,560 |
41,060 |
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Equities |
20,500 |
20,400 |
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------------------ |
------------------- |
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Total liabilities & equities |
40,060 |
61,460 |
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============ |
=========== |
Income
Statement
Unit: CNY’000
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As
of Dec. 31, 2009 |
|
Turnover |
354,650 |
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Cost of goods sold |
350,210 |
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Sales expense |
2,330 |
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Management expense |
1,450 |
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Finance expense |
480 |
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Profit before tax |
-100 |
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Less: profit tax |
0 |
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Profits |
-100 |
Important
Ratios
=============
|
|
2008 |
2009 |
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*Current ratio |
2.05 |
1.50 |
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*Quick ratio |
1.04 |
1.50 |
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*Liabilities to assets |
0.49 |
0.67 |
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*Net profit margin (%) |
/ |
-0.03 |
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*Return on total assets (%) |
/ |
-0.16 |
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*Inventory /Turnover ×365 |
/ |
0 |
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*Accounts receivable/Turnover ×365 |
/ |
43days |
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*Turnover/Total assets |
/ |
5.77 |
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* Cost of goods sold/Turnover |
/ |
0.99 |
PROFITABILITY:
FAIR
The turnover of SC appears fairly good in 2009.
SC’s net profit margin is fair in 2009.
SC’s return on total assets is fair in 2009.
SC’s cost of goods sold is high in 2009, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is in a fairly good level in 2008 and in a
normal level in 2009.
SC’s quick ratio is maintained in a normal level.
The inventory of SC is average in 2008.
The accounts receivable of SC is average in 2008 but fairly large in
2009.
SC has no short loans in both years.
SC’s turnover is in a good level in 2009, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average in both years.
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. It is considered a credit line up to USD 100,000 appears to be
within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
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|
1 |
Rs.72.50 |
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Euro |
1 |
Rs.62.46 |
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.