MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
A. J INTERNATIONAL CO., LTD. |
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Registered Office : |
Room 1211 Jinrong Mansion, No. 384 Jinzhai
Road, Hefei, Anhui Province
230061 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.03.2009 |
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Com. Reg. No.: |
340100000177443 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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 1,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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
A. J INTERNATIONAL CO., LTD.
ROOM 1211 JINRONG
MANSION, NO. 384 JINZHAI ROAD, HEFEI
ANHUI PROVINCE 230061
PR CHINA
TEL: 86 (0)
551-2648208/5327969
FAX: 86 (0)
551-2648465
EXECUTIVE SUMMARY
Date of Registration : MARCH 4, 2009
REGISTRATION NO. : 340100000177443
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 2,000,000
staff : 4
BUSINESS CATEGORY :
TRADING
Revenue :
CNY 9,596,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 203,000 (AS OF DEC. 31, 2010)
WEBSITE : www.china-aj.com
E-MAIL :
steven_vista@msn.cn
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD 1,000
(PERIODICAL REVIEW)
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.38 = USD 1
Adopted abbreviations
(as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 340100000177443 on March
4, 2009.
SC’s Organization Code Certificate
No.: 68499033-1
SC’s registered capital: CNY 2,000,000
SC’s paid-in capital: CNY 2,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before the change |
After the change |
|
2011 |
Registered capital |
CNY 200,000 |
CNY 2,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Wang Jisheng |
50 |
|
Jin Mei |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman,
and General Manager |
Wang Jisheng |
|
Supervisor |
Jin
Mei |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Wang Jisheng 50
Jin Mei 50
MANAGEMENT
Wang Jisheng, Legal Representative, Chairman and General Manage
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Jin
Mei, Supervisor
----------------------------------
Ø
Gender: F
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes selling chemical
materials and products, building materials, packaging materials, machinery and
electronic equipment, rubber and plastic products, hardware, automotive, local
products, agricultural products, handicrafts, daily necessities, garments,
textiles; warehousing, packaging services; operating and acting as an agent of
importing and exporting various kinds of commodities and technology.
SC is
mainly engaged in international trade.
SC’s
products mainly include:
Sweetners
Vitamins
Food additives
Energy drink ingredients
SC sources its materials 100% from domestic
market. SC sells 100% of its products to overseas market, mainly India.
The
buying terms of SC include T/T and Credit of 30 days. The payment terms of SC
include L/C and Credit of 30 days.
Staff & Office:
--------------------------
SC is
known to have approx. 4 staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
672 |
1,212 |
|
|
Accounts
receivable |
0 |
0 |
|
Advances to
suppliers |
2,213 |
1,294 |
|
Other receivable |
81 |
27 |
|
Inventory |
0 |
3,051 |
|
Prepaid
expenses |
1 |
29 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current assets |
2,967 |
5,613 |
|
Fixed assets |
9 |
7 |
|
Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term prepaid
expenses |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total assets |
2,976 |
5,620 |
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|
============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Tax payable |
0 |
-519 |
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Advances from
clients |
1,009 |
2,247 |
|
Other payable |
1,792 |
3,689 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
liabilities |
2,801 |
5,417 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,801 |
5,417 |
|
Equities |
175 |
203 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
2,976 |
5,620 |
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|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
9,596 |
|
Cost of sales |
8,970 |
|
Sales expense |
114 |
|
Management expense |
407 |
|
Finance expense |
68 |
|
Profit before
tax |
37 |
|
Less: profit tax |
9 |
|
28 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.06 |
1.04 |
|
*Quick ratio |
1.06 |
1.04 |
|
*Liabilities to
assets |
0.94 |
0.96 |
|
*Net profit
margin (%) |
-- |
0.29 |
|
*Return on
total assets (%) |
-- |
0.50 |
|
*Inventory /
Revenue ×365 |
-- |
117 days |
|
*Accounts
receivable/ Revenue ×365 |
-- |
-- |
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*
Revenue/Total assets |
-- |
1.71 |
|
* Cost of sales
/ Revenue |
-- |
0.93 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line in 2010.
l
SC’s net profit margin is average in 2010.
l
SC’s return on total assets is average in 2010.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears large in 2010.
l
SC has no accounts receivable in both years.
l
SC has no short-term loans in both years
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is fairly high in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. The large amount of inventory may be a threat to SC’s financial
condition. A credit line up to USD 1,000 is recommended upon a periodical
review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
RATING EXPLANATIONS
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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 |
|
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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.