MIRA INFORM
REPORT
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Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU GUOTAI INTERNATIONAL GROUP HUATAI
IMPORT & EXPORT CO., LTD. |
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Registered Office : |
19/f, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.03.1992 |
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Com. Reg. No.: |
320582000001511 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
importing and exporting
hardware, chemicals and garments. |
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 500,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 & address
jiangsu guotai international group huatai import & export co.,
ltd.
19/f,
TEL: 86 (0)
512-58696319 FAX: 86 (0)
512-58696990
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 3, 1992
REGISTRATION NO. :
320582000001511
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
90
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 1,560,750,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 62,930,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE RATE :
CNY 6.67 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s correct tel. no. should be the heading one, while the given no. 512-5869699 is wrong.
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 March 3, 1992.
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 wholesale and retail trade, importing and exporting
commodities and technologies, excluding the goods forbidden to exported by the government;
processing with the imported materials and compensation trade agreement, barter
trade and transit trade.
SC is mainly
engaged in importing and exporting hardware, chemicals and garments.
Mr. Yang Ge has
been general manager of SC since 1998.
SC is
known to have approx. 90 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in the commercial zone of
Zhangjiagang. Our checks reveal that SC owns the total premise about 3,000
square meters.
SC is not known to host website of its own at present.
Email: xzting@vip.163.com
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 12,000,000 |
CNY 20,000,000 |
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Shareholders |
Zhangjiagang Free Trade Zone
Shengtai Investment Chen
Yuxiang 11.25% He
Xiaoping 9.04% Qiu Bo 6.965 % Xu
Guoxin 7.5% Yang
Ge 11.09% Other 21 individuals21 14.155% |
Zhangjiagang Free Trade Zone
Shengtai Investment Chen
Yuxiang 11.5% He
Xiaoping 9.37% Qiu
Bo 10% Xu
Guoxin 6% Yang
Ge 11.75% Other 21 individuals21 11.38% |
|
|
Registered capital |
CNY 20,000,000 |
CNY 30,000,000 |
|
Shareholders |
Zhangjiagang Free Trade Zone Shengtai
Investment Chen
Yuxiang 11.5% He
Xiaoping 9.37% Qiu
Bo 10% Xu
Guoxin 6% Yang
Ge 11.75% Other
21 individuals21 11.38% |
The present ones |
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Unspecified |
Registration No. |
3205821100892 |
320582000001511 |
MAIN
SHAREHOLDERS:
Name % of Shareholding
Jiangsu Guotai International
Group Co., Ltd. 25
Zhangjiagang Free Trade Zone
Shengtai Investment Co., Ltd. 15
Chen Yuxiang ID# 320106731029201 11
He Xiaoping ID# 320582197609225735 9.53
Qiu Bo ID# 320521197608108817 10
Xu Guoxin ID# 61010619660403205X 6.00
Yang Ge ID# 320521620817001 12
Other 20 individuals 20 11.47
Jiangsu Guotai International Group Co., Ltd.
=================================
Jiangsu Guotai International
Group is one of the key enterprise groups in
Website: http://www.gtig.com/
E-mail: allenxu@vip.163.com
Tel: 0512-58696206
Fax: 0512-58696170
l
Chairman and General Manager:
Mr. Yang Ge , ID # 320521620817001, born in 1962, with
junior college education. He is currently responsible for the overall
management of SC.
Working Experience(s):
From 1998 to present Working in SC as chairman and general manager
*Officials:
=======
Name Title
Chen Xiaodong Director
Cheng Yinghong Director
Xu Guoxin Director
He Xiaoping Director
Chen Xiangyu Director
Ding Xiezhong Supervisor
Qiu Bo 波 Supervisor
Lu Jiong Supervisor
SC is mainly
engaged in importing and exporting hardware, chemicals and garments.
SC’s products
mainly include: hand tools, power tools, textiles, and so on.
SC sources its materials 100%
from domestic market, mainly
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 known to invest in the following companies:
Zhangjiagang
Guotai Investment Co., Ltd.
Suzhou
Sanray Pharmaceutical Co., Ltd.
Jiangsu
Guotai International Group Industry Investment Co., Ltd.
Juxian
Guotai Non-ferrous Metal Materials Co., Ltd.
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
AC#
12214808091001
Relationship:
Bank of
AC#
12753418091001
Relationship:
Financial
Information
Unit: CNY’000
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as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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Total
liabilities |
238,646 |
353,420 |
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Shareholders
equities |
49,848 |
62,930 |
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Total Assets |
288,494 |
416,350 |
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Turnover |
1,121,349 |
1,560,750 |
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Profit before
tax |
13,529 |
16,900 |
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Net profit |
10,503 |
13,930 |
Note: SC’s detail
financial reports were not found during our checks with local AIC.
Important Ratios
=============
|
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as of Dec. 31, 2008 |
as of Dec. 31,
2009 |
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*Liabilities
to assets |
0.83 |
0.85 |
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*Net profit
margin (%) |
0.94 |
0.89 |
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*Return on
total assets (%) |
3.64 |
3.35 |
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*Turnover/Total
assets |
3.89 |
3.75 |
PROFITABILITY: FAIRLY GOOD
l
The turnover of SC appears fairly good, and it
increased in 2009.
l
SC’s net profit margin remains at an average level
in both years.
l
SC’s return on total assets is fairly good.
l
SC’s turnover is in a fairly good level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly 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 500,000 appears 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.49.07 |
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|
1 |
Rs.76.65 |
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Euro |
1 |
Rs.66.17 |
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 |
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.