MIRA INFORM REPORT
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Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ZIBO HAIQIAO IMPORT AND EXPORT CO., LTD. |
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Registered Office : |
No. 8 Zhongnan Road, Nanwang Economic
Development Zone, Linzi, Zibo, Shandong Province 255438 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.02.2009 |
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Com. Reg. No.: |
370305220000780 |
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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 5,000 |
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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) |
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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
zibo haiqiao import and export co., ltd.
no. 8 zhongnan road,
nanwang economic development zone
LINZI, zibo, shandong
province 255438 PR CHINA
TEL: 86 (0)
533-7507100/7508003
FAX: 86 (0)
533-7508201
EXECUTIVE SUMMARY
Date of Registration : february 24, 2009
REGISTRATION NO. : 370305220000780
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 1,200,000
staff : 12
BUSINESS CATEGORY :
trading
Revenue : CNY 18,800,000 (AS OF
DEC. 31, 2010)
EQUITIES : CNY 1,150,000 (AS OF
DEC. 31, 2010)
WEBSITE : www.zibohq.com
E-MAIL :
info@zibohq.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
5,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.35 = 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.: 370305220000780 on February
24, 2009.
SC’s Organization Code Certificate
No.: 68590023-8
SC’s registered capital: cny 1,200,000
SC’s paid-in capital: cny 1,200,000
Registration Change Record:
|
Date |
Change
of Contents |
Before the change |
After the change |
|
2011-5 |
Legal Representative |
Suo Yamin |
Yin Liang |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Yin Liang |
35.00 |
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Wang Fenggang |
33.33 |
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Wang Huanyu |
15.00 |
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Yin Guang |
16.67 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Yin Liang |
|
Director/Supervisor |
Wang
Fenggang |
|
Wang
Huanyu |
|
|
Yin
Guang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Yin Liang 35.00
Wang Fenggang 33.33
Wang Huanyu 15.00
Yin Guang 16.67
MANAGEMENT
Yin Liang, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director/Supervisor
--------------------------
Wang Fenggang
Wang Huanyu
Yin Guang
BUSINESS OPERATION
SC’s registered business scope includes operating and
acting as an agent of importing and exporting various kinds of commodities and technology,
excluding the goods forbidden by the government.
SC is
mainly engaged in international trade.
SC’s
products mainly include:
Plastic Products
Aluminum Foil for Pharmaceutic
Silage Film
Additives for Plastics
Medical Devices
Chemical Raw Material
Electronic Products
SC sources its materials 100% from domestic
market, mainly Zibo. SC sells 25% of its products in domestic market, and 75%
to overseas market, mainly Australia, Europe, South America, North America,
Africa, Middle East and Southeast Asia.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
*Major Supplier:
==============
Zibo Zhongnan
Plastics Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 12
staff at present.
SC rents an area
as its operating office of approx. 150 sq. meters at the heading address.
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: A trade enquiry currently conducted with SC's supplier(s) reveal the
following:
Supplier
A
Products sold: Silage
Film
Date account opened: Since 2009 to present
Line of credit: N/A
Terms: 30-60
days
Average monthly sales: N/A
Current balance: N/A
Rating Key : 3
Any Special Comments: N/a
Payment record keys :
1 = Prompt : Payment made before the credit
period expires
2 = As agreed terms : Payment made upon due
date
3 = Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4 = Slow : Payment made 16 to 45 days beyond
agreed terms
5 = Poor : Payment made over 45 days beyond
agreed terms
6
= No comment : Account is newly opened & record is not yet established
Note : In
some instances, payment beyond terms can be the result of disputes over
merchandise, lost invoices, disputed accounts & etc.
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 |
|
120 |
80 |
|
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Accounts
receivable |
210 |
1,080 |
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Other receivable |
440 |
490 |
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Inventory |
2,400 |
570 |
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Non-current
assets within one year |
0 |
0 |
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Other current assets |
10 |
760 |
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------------------ |
------------------ |
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Current assets |
3,180 |
2,980 |
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Fixed assets |
0 |
680 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
3,180 |
3,660 |
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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 |
1,190 |
370 |
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Wages payable |
0 |
0 |
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Advances from
clients |
1,040 |
1,360 |
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Other payable |
0 |
900 |
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Other current
liabilities |
10 |
-120 |
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------------------ |
------------------ |
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Current
liabilities |
2,240 |
2,510 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,240 |
2,510 |
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Equities |
940 |
1,150 |
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------------------ |
------------------ |
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Total
liabilities & equities |
3,180 |
3,660 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
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Revenue |
18,800 |
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Cost of sales |
17,900 |
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Sales expense |
680 |
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Management expense |
100 |
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Finance expense |
120 |
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Profit before
tax |
20 |
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Less: profit tax |
10 |
|
10 |
Important Ratios
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Current ratio |
1.42 |
1.19 |
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*Quick ratio |
0.35 |
0.96 |
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*Liabilities
to assets |
0.70 |
0.69 |
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*Net profit
margin (%) |
-- |
0.05 |
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*Return on
total assets (%) |
-- |
0.27 |
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*Inventory /
Revenue ×365 |
-- |
12 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
21 days |
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*
Revenue/Total assets |
-- |
5.14 |
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* Cost of
sales / Revenue |
-- |
0.95 |
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
2010.
l
The inventory of SC is maintained in an average
level in 2010.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loans in both years.
l
SC’s revenue is in a
fairly good level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average 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. A credit line up to USD 5,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.03 |
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UK Pound |
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.66.80 |
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 |
|
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.