MIRA INFORM REPORT

 

 

 

 

Report Date :

25.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DALIAN JILIN GRAIN GROUP IMP EXP TRADING CO LTD

 

 

Registered Office :

29f, Xiwang Plaza, No.136 Zhongshan Road, Zhongshan District, Dalian City, Liaoning Province 116001

 

 

Country :

China

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

19.11.2007

 

 

Com. Reg. No.:

6310 210242000015241

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

wholesale of agricultural and livestock products

 

 

No. of Employees :

30 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

12,000,000.00 Chinese Yuan

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

DALIAN JILIN GRAIN GROUP IMP. & EXP. TRADING CO.,LTD

29F, XIWANG Plaza, No.136 Zhongshan Road, Zhongshan District, Dalian City, Liaoning Province

116001

Tel :

86 411 66991893

Fax:

86 411 62948571

E-mail:

--

Website:

http://jggie.com 

GTM Reference No.

G111249210

 

Currency in this report is Chinese Yuan unless otherwise stated.

 

Exchange Rate: 1 USD=6.37 Chinese Yuan

 

"--"in this report indicates "unavailable" due to insufficient information or "no comments"

 

 

EXECUTIVE SUMMARY

 

DATE OF establishment

nov.19th, 2007

Aic Registration No.

210242000015241

REGISTERED LEGAL FORM

limited liabilities company

REGISTERED CAPITAL

20,000,000.00

main BUSINESS

wholesale of agricultural products

SIC Code (China)

6310 wholesale of agricultural and livestock products

employees

30

import and export permits

yes

business scale

Medium

operation trend

Average

TURNOVER

2,026,213,000.00 (As of Dec.31st, 2010)

net profit

67,564,000.00 (As of Dec.31st, 2010)

total assets           

1,125,597,000.00 (As of Dec.31st, 2010)

base Credie limit

12,000,000.00

EXCHANGE RATE

1 Usd=6.37CNY (nov.25th, 2011)

                 


REGISTRATION

 

Name

DALIAN JILIN GRAIN GROUP IMP. & EXP. TRADING CO.,LTD

AIC Registration Number

210242000015241

Registered address

Room 408A, SHICHANG Plaza, Free Trade Zone, Dalian City

Operation address

29F, XIWANG Plaza, No.136 Zhongshan Road, Zhongshan District, Dalian City

Date of Establishment

nov.19th, 2007

Registry

Administration Bureau of Industry and Commerce – Dalian

Legal Representative

Wang Haisheng

Registered Legal Form

limited liabilities company

Registered Capital

20,000,000.00

Operating Duration

From Nov.19th, 2007 to Nov.18th, 2027

Changes in Registration

Apr.26th, 2011

Subject’s registration No. was changed from 2102421101173 to 210242000015241.

                        

Limited liabilities co.

This form of business in PR China is defined as a legal person. Its registered capital is contributed jointly by at least two shareholders and no more than fifty. 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 listed as follows:

-manufacturing co.                              : RMB 500,000.00

-trading &wholesaling co.                     : RMB 500,000.00

-retailing co.                                       : RMB 300,000.00

-consultancy & service co.                   : RMB 100,000.00

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 50% of the registered capital while contribution by intangible assets must not exceed 20% 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.

 

REGISTRATION INFO: AVAILABLE

FINANCIAL REPORTS: AVAILABLE

    

SHAREHOLDERS AND SHARES

 

As indicated in the following table:

Shareholder

Capital Subscribed

Percentage

JILIN GRAIN GROUP IMP. & EXP. CO., LTD

14,000,000.00

70%

Zhang Ming

2,000,000.00

10%

Wu Yueqi

1,200,000.00

6%

Li Gang

700,000.00

3.5%

Liu Xiaoxue

700,000.00

3.5%

Gao Bo

700,000.00

3.5%

Zhang Xiaojin

700,000.00

3.5%

Total

20,000,000.00

100%

              

Shareholder

Way of Investment

Paid-up Percentage

JILIN GRAIN GROUP IMP. & EXP. CO., LTD

Capital

100%

Zhang Ming

Capital

100%

Wu Yueqi

Capital

100%

Li Gang

Capital

100%

Liu Xiaoxue

Capital

100%

Gao Bo

Capital

100%

Zhang Xiaojin

Capital

100%

  

Background of major shareholder

Name

JILIN GRAIN GROUP IMP. & EXP. CO., LTD

Address

No.1515 Chuncheng Avenue, Changchun City, Jilin Province

Tel

86 431 88790883

Main business

Import and export of agricultural products

          

          


AFFILIATE(S)

 

No affiliate of subject is found after checking.

                      

                     

MANAGEMENT

 

Name

Wang Haisheng

Title

Legal representative

 

 

Name

Wang Yongge

Title

Sales manager

       

       

BANKERS INFORMATION

 

No banker information of subject is obtained in this report.

 

         

OFFICE FACILITIES

 

Geographic Location

29F, XIWANG Plaza, No.136 Zhongshan Road, Zhongshan District, Dalian City

Area

1,000 square meters

Environment and traffic

Acceptable

Property Ownership

Rented

           

           

TRADEMARKS AND PATENTS

 

After checking with the Trademark Office of Chinese Administration Bureau of Industry and Commerce and the State Intellectual Office, no trademarks or patents of SC were found.

        

        

MAIN PRODUCTS & SERVICES

 

Main business

Wholesale of agricultural products

Products and services

Subject’s products include soybean, edible oil, grains, fish oil, fish powder, DDGS etc.

           

           

SALES INFORMATION

 

Local sales

90%

Regions

All over China

Major domestic clients

Shandong Bohi Oil & Industry Co., Ltd; SANHE HOPEFULL GRAIN & OIL REFINERY CO., LTD

Payment terms

Prompt payment; on credit

Export

10%

Regions

Japan, South Korea etc.

Major overseas clients

--

Payment terms

L/C; T/T

Subject’s products are mostly sold domestically. Its clients include oil factory, traders etc.

The above information was confirmed by SC’s employee on Nov.25th, 2011.

           

           

PURCHASE INFORMATION

 

Main Commodities Purchased

Soybean, edible oil etc.

Number of Major Suppliers

More than 10

Major suppliers

JGG America Inc; ZIFA CORP. etc.

Main Terms of Payment

Local: prompt payment; on credit

Import: L/C; T/T

Subject’s products are mostly imported from foreign countries and sold in China.

The above information was confirmed by SC’s employee on Nov.25th, 2011.

          

                     

CREDIT RECORDS

 

Subject’s suppliers are mainly foreign suppliers. Hence no payment comment from the supplier can be provided in the report.

         

          

LITIGATION RECORDS 

 

After checking with China Court organization, the local court website and other major searching websites, no litigation record related to SC in the latest three years is found.

           

            

FINANCE

Balance Sheet (Unit: 1,000 Chinese Yuan):

                               

Dec. 31st, 2008

Dec. 31st, 2009

  Dec. 31st, 2010

Total assets

  512,379

   371,596

  1,125,597

Total liabilities

489,325

344,295

 

Total owner’s interest

23,054

27,301

 

Liabilities and owner’s interest

512,379

371,596

     1,125,597

Main business income

14,602

620,492

2,026,213

Total profit

4,116

9,390

90,123

- income tax

1,062

2,394

22,559

Net profit

3,054

6,996

67,564

 

Note: from the current AIC channels, only the financial summary of subject is obtained for the client’s reference.

Important Ratios:

 

2008

2009

2010

Return on net assets (%)   

13.25

25.63

 

Return on total assets (%)   

0.60

1.88

6.00

Net profit margin (%)

20.91

1.13

3.33

Turnover of total assets

0.03

1.67

1.80

Turnover of current assets  

 

 

 

Turnover of account receivable

 

 

 

Inventory turnover

 

 

 

Asset liability ratio (%)

95.50

92.65

 

Current ratio

 

 

 

Quick ratio

 

 

 

 

Analysis of financial indicator

Long-term solvency: poor (2009)

Return on assets (ROA): acceptable

Enterprise background: good

                   


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.25

UK Pound

1

Rs.81.23

Euro

1

Rs.69.83

 

 

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

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.