MIRA INFORM REPORT
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Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
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Name : |
NINGBO HENGLIANG
INTERNATIONAL ECONOMIC TRADE COOPERATION LTD. |
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Registered Office : |
Floor 12-15, Block B, Exhibition Center, No. 9, Dabu Street,
Ningbo City, Zhejiang Province, 315046 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.03.2001 |
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Com. Reg. No.: |
330200000073686 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Import
and export of all kinds of
goods and technology |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 40,000 |
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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 30th, 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
& address
NINGBO
HENGLIANG INTERNATIONAL ECONOMIC TRADE COOPERATION LTD.
FLOOR 12-15, BLOCK B,
EXHIBITION CENTER, NO. 9, DABU STREET, NINGBO CITY, ZHEJIANG PROVINCE, 315046
PR CHINA
TEL: 86 (0) 574-87703452/87702173 FAX: 86 (0) 574-87706530
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 26, 2001
REGISTRATION NO. : 330200000073686
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. LAI HUANDING (LEGAL REPRESENTATIVE)
STAFF STRENGTH : 68
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 616,820,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 6,430,000 (AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 40,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3438=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 Ren Min Bi
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on March 26, 2001.
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 self-management and agent all
kinds of commodities and technology import and export business (except the
forbid ones); processing with imported materials, processing with imported
samples, assembling with imported parts, and compensation trade in agreement; counter trade & transit trade; technical
advisory services of import equipment; meeting service, wholesaling, retailing,
purchasing agency selling of hardware, mechanical and electrical equipment
(except cars), chemical raw materials (except of hazardous chemicals), building
materials, textiles, clothing, handicraft (except of gold and silver
ornaments).
SC is
mainly engaged in import and export of all kinds of goods and technology.
Mr. Lai
Huanding is chairman & legal representative of SC at present.
SC is known
to have approx. 68 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Ningbo. Our checks reveal that SC owns
the total premise about 1,300 square meters.
http://www.nbhl-china.com/
The
design is professional and the content is well organized. At present it is in
Chinese and English versions.
Email: nbhlchina@gmail.com
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registration No. |
3302001004261 |
Present one |
MAIN
SHAREHOLDERS:
Name
% of
shareholdings
China Ningbo Cixi Import & Export Corp. 51
Li Jianyi ID#: 330203540116181 8
Xu Jihua ID#: 330203580605031 8
Yang Luqi ID#: 330205590323031 4
Sun Xueli ID#: 330203660506152 4
Li Juli ID#: 332526197311278124 4
Yan Jun and other 18 individuals 21
China Ningbo Cixi Import & Export Corp.
==============================
Incorporation Date: January 9, 1991
Registration No.: 330200000007548
Chief Executive: Chai Chensui
Registered Capital: CNY 135,000,000
Website: http://www.cncie.com/
Tel: 0574-63891000
Fax: 0574-63812510
l
Chairman & Legal Representative:
Mr. Lai Huanding, ID#: 440105680930003, born in 1968. He is currently responsible for the overall management of SC
Working Experience(s):
At present Working in SC as chairman & legal representative
SC is
mainly engaged in import and export of all kinds of goods and technology.
SC’s products mainly include: mechanical equipment, household appliances,
electronic products, clothing, etc.
SC sources its materials 99% from domestic
market, and 1% from overseas market. SC sells 10% of its products in domestic
market, and 90% to overseas market.
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:
SC refused to release its main customers and suppliers
· Ningbo Hengliang International Economic Trade Cooperation Ltd. Shaoxing Branch
·
Ningbo Hengliang International Economic Trade
Cooperation Ltd. First Branch
· Ningbo Hengliang International Economic Trade Cooperation Ltd. Second Branch
· Ningbo Hengliang International Economic Trade Cooperation Ltd. Third Branch
· Ningbo Hengliang International Economic Trade Cooperation Ltd. Fifth Branch
According to SC’s website, SC is known to invest in the following
company:
Ningbo Haiwen Imp. & Exp. Corp. Ltd.
============================
Website: www.hwmdent.com
E-mail: sales@hwmdent.com
Tel: 0574-87680883
Fax: 0574-87680883
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
Ningbo Branch
AC#: N/A
Relationship:
Normal
Balance Sheet
Unit: CNY’000
|
|
As of Dec. 31,
2010 |
|
Cash & bank |
20,240 |
|
Inventory |
50 |
|
Accounts
receivable |
21,160 |
|
Advances to
suppliers |
30,410 |
|
Other accounts
receivable |
7,690 |
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Subsidies
receivable |
31,280 |
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Other current
assets |
0 |
|
|
------------------ |
|
Current assets |
110,830 |
|
Fixed assets net
value |
780 |
|
Project under
construction |
0 |
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Long term
investment |
1,060 |
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Intangible and
other assets |
0 |
|
|
------------------ |
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Total assets |
112,670 |
|
|
============= |
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Short loans |
0 |
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Notes payable |
0 |
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Accounts payable |
99,110 |
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Advances from
clients |
0 |
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Welfare payable |
950 |
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Taxes payable |
90 |
|
Surcharge payable |
0 |
|
Other accounts
payable |
6,090 |
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Other current
liabilities |
0 |
|
|
------------------ |
|
Current
liabilities |
106,240 |
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Long-term
liabilities |
0 |
|
|
------------------ |
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Total
liabilities |
106,240 |
|
Equities |
6,430 |
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|
------------------ |
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Total
liabilities & equities |
112,670 |
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|
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31,
2010 |
|
Turnover |
616,820 |
|
Cost of goods sold |
601,320 |
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Taxes and additional of main operations |
0 |
|
Sales expense |
14,790 |
|
Management expense |
2,190 |
|
Finance expense |
-1,570 |
|
Investment
income |
100 |
|
Subsidies income |
200 |
|
Non-operating
income |
40 |
|
Non-operating expense |
130 |
|
Profit before
tax |
300 |
|
80 |
|
|
Profits |
220 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2010 |
|
*Current ratio |
1.04 |
|
*Quick ratio |
1.04 |
|
*Liabilities
to assets |
0.94 |
|
*Net profit
margin (%) |
0.04 |
|
*Return on
total assets (%) |
0.20 |
|
*Inventory
/Turnover ×365 |
1 day |
|
*Accounts
receivable/Turnover ×365 |
13 days |
|
*Turnover/Total
assets |
5.47 |
|
* Cost of
goods sold/Turnover |
0.97 |
PROFITABILITY: AVERAGE
l
The turnover of SC appears fairly good in 2010.
l
SC’s net profit margin appears average in 2010.
l
SC’s return on total assets appears average in
2010.
l
SC’s cost of goods sold is high in 2010, comparing
with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2010.
l
SC’s quick ratio is maintained in a normal level in
2010.
l
The inventory of SC appears small in 2010.
l
The accounts receivable of SC appears average in
2010.
l
SC has no short-term loan in 2010.
l
SC’s turnover is in a fairly good level in 2010,
comparing with the size of its total assets.
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 medium-sized
in its line with fairly stable financial conditions. A credit line up to USD
40,000 appears to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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 |
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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.