MIRA
INFORM REPORT
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Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
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Name : |
Shanghai Sunwise Chemical Co Ltd. |
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Registered Office : |
Room 215, Reeco Tower, No. 255 Wubao Road, Minhang District, Shanghai,
201101 Pr |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
22.08.2006 |
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Com. Reg. No.: |
3101122112733 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Chemical Products. |
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 : |
Small Company |
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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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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
Shanghai sunwise chemical co., ltd.
Room 215, Reeco Tower, No. 255 Wubao Road, Minhang District, Shanghai,
201101 Pr China
TEL: 86 (0) 21-60906580 FAX: 86 (0)
21-60906590
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 22, 2006
REGISTRATION NO. : 3101122112733
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : MS. SU XIAOLING (CHAIRMAN)
STAFF STRENGTH : 8
REGISTERED CAPITAL :
CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 26,760,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 1,430,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 20,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : FAIRly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.58 = 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 limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Aug. 22, 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 selling chemical raw materials
and products (except dangerous goods), metal materials, hardware, power tools,
building materials, textiles, daily necessities, automobile and motorcycle
accessories; import and export of goods and technology (with permit if needed)
SC is mainly engaged in selling chemical products.
Ms. Su Xiaoling is the legal representative
and chairman of SC at present.
SC is known to have approx. 8 employees at
present.
SC is currently operating at the above stated address, and
this address houses its operating office in the commercial zone of Shanghai.
Our checks reveal that SC rents the total premise about 180 square meters.
http://www.sunwisechem.com/
The
design is professional and the content is well organized. At present it is in
Chinese and English versions.
Email: sales@sunwisechem.com
MAIN SHAREHOLDERS:
Name %
of Shareholding
Su Xiaoling 40
Zou Lijuan 30
Ji Shuzhen
30
Legal representative and chairman:
Ms. Su Xiaoling is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
SC is mainly engaged in selling chemical products.
Main Products: water treatment chemicals, rubber & plastic
additives, flame retardants, organic intermediates & raw materials,
pharmaceutical raw materials, cosmetics ingredients, food and feed additives,
custom chemicals, etc.
SC sources its materials and products 100% from domestic
market. SC sells 1% of its products in domestic market and 99% of its products
to overseas market.
The buying terms of SC include Check, 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.
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 China
AC#：N/A
Relationship: Normal.
Balance
Sheet
Unit: CNY’000
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as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
Cash & bank |
250 |
1,770 |
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Inventory |
190 |
180 |
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Accounts receivable |
2,010 |
1,830 |
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Advances to suppliers |
0 |
0 |
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Other receivables |
40 |
0 |
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Other current assets |
510 |
1,020 |
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------------------ |
------------------ |
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Current assets |
3,000 |
4,800 |
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Fixed assets net value |
10 |
10 |
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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 |
3,010 |
4,810 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
840 |
720 |
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Advances from customers |
0 |
0 |
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Salaries and welfare payable |
0 |
0 |
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Taxes payable |
-30 |
-20 |
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Other payable |
960 |
2,660 |
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Other current liabilities |
0 |
20 |
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------------------ |
------------------ |
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Current liabilities |
1,770 |
3,380 |
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Long term liabilities |
0 |
0 |
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------------------ |
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Total liabilities |
1,770 |
3,380 |
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Equities |
1,240 |
1,430 |
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------------------ |
------------------ |
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Total liabilities & equities |
3,010 |
4,810 |
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============= |
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Income
Statement
Unit: CNY’000
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as
of Dec. 31, 2009 |
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Turnover |
26,760 |
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Cost of goods sold |
22,850 |
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Sales expense |
3,220 |
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Management expense |
430 |
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Finance expense |
70 |
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Profit before tax |
190 |
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Less: profit tax |
0 |
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Profits |
190 |
Important
Ratios
=============
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as
of Dec. 31, 2008 |
as of Dec. 31, 2009 |
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*Current ratio |
1.69 |
1.42 |
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*Quick ratio |
1.59 |
1.37 |
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*Liabilities to assets |
0.59 |
0.70 |
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*Net profit margin (%) |
/ |
0.71 |
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*Return on total assets (%) |
/ |
3.95 |
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*Inventory /Turnover ×365 |
/ |
3 days |
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*Accounts receivable/Turnover ×365 |
/ |
25 days |
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*Turnover/Total assets |
/ |
5.56 |
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* Cost of goods sold/Turnover |
/ |
0.85 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average in its line in 2009.
SC’s net profit margin is average in 2009.
SC’s return on total assets is average in 2009.
SC’s cost of goods sold is average in 2009, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in both 2 years.
SC’s quick ratio is maintained in a normal level in both 2 years.
The inventory of SC appears small in both 2 years.
The accounts receivable of SC appears large in 2008, and fairly large in
2009.
SC has no short-term loan in both 2 years.
SC’s turnover is in a fairly good level in 2009, comparing with the size
of its total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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 20,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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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.