MIRA INFORM REPORT
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Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TAIZHOU CHENLIN PLASTIC MOULD CO., LTD. |
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Registered Office : |
Mould City, Huangyan West District, Taizhou
City, Zhejiang Province 318020 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010
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Date of Incorporation : |
15.01.2010 |
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Com. Reg. No.: |
331003000050272 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and selling molds and parts |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
TAIZHOU CHENLIN PLASTIC MOULD CO., LTD.
MOULD CITY, HUANGYAN
WEST DISTRICT, TAIZHOU CITY
ZHEJIANG PROVINCE
318020 PR CHINA
TEL: 86 (0)
576-84203239/13511478975
FAX: 86 (0)
576-54206739
EXECUTIVE SUMMARY
Date of Registration : january 15, 2010
REGISTRATION NO. : 331003000050272
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 500,000
staff : 22
BUSINESS CATEGORY :
manufacturing
Revenue :
CNY 454,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 458,000 (AS OF DEC. 31, 2010)
WEBSITE : www.liberalmould.com
E-MAIL :
info@liberalmould.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
1,000 (PERIODICAL REVIEW)
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : FAIR
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.: 331003000050272 on January
15, 2010.
SC’s Organization Code Certificate
No.: 69954590-0
SC’s Tax No.: 331003699545900
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Lin Xibei |
90 |
|
Chen Jing |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Lin Xibei |
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Supervisor |
Chen Jing |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Lin Xibei 90
Chen Jing 10
MANAGEMENT
Lin Xibei , Legal Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 28
Ø
ID# 331003198306093979
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative,
chairman and general manager
Chen Jing, Supervisor
-------------------------------------
Ø
Gender: F
Ø
Age: 27
Ø
ID# 33100319840625002X
Ø
Qualification:
University
Ye Chenxi, Sales
Manager
----------------------------------------------
Ø
Gender: F
Ø
Mobile: 86 (0) 13757674860
BUSINESS OPERATION
SC’s registered business
scope includes manufacturing plastic products, molds and accessories, plastic
processing equipment, extrusion dies and accessories, injection molding
machines and accessories, importing and exporting goods and technology.
SC is mainly
engaged in manufacturing and selling molds and parts.
Brand: 
SC’s
products mainly include:
-----------------------------------
Injection Mould
Ø
Commodity Mould
Ø
Household Appliances Mould
Ø
Crate/Box Mould
Compression Mould
Ø
Smc/Bmc/Dmc Mould
Ø
Transfer Mould
Ø
Zinc/Aluminum Die
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 60% of its products in domestic market, and
40% to overseas market, mainly Japan, Southeast Asia.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 22
staff at present.
SC rents an area
as its operating office & factory of approx. 5,000 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: 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
Basic Bank:
Zhejiang Tailong Commercial Bank
AC#: 6326801201020010680
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
765 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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Other receivable |
20 |
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Inventory |
220 |
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Other
business expense to be transferred |
25 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
1,030 |
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Fixed assets |
111 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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------------------ |
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Total assets |
1,141 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
43 |
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Tax payable |
-74 |
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Advances from
clients |
618 |
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Other payable |
96 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
683 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
683 |
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Equities |
458 |
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------------------ |
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Total
liabilities & equities |
1,141 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
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Revenue |
454 |
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Cost of sales |
371 |
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Sales expense |
16 |
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Management expense |
89 |
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Finance expense |
20 |
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Profit before
tax |
-42 |
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Less: profit tax |
0 |
|
-42 |
Important Ratios
=============
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As
of Dec. 31, 2010 |
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*Current ratio |
1.51 |
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*Quick ratio |
1.19 |
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*Liabilities
to assets |
0.60 |
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*Net profit
margin (%) |
-9.25 |
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*Return on
total assets (%) |
-3.68 |
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*Inventory /
Revenue ×365 |
177 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
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* Revenue/Total
assets |
0.40 |
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* Cost of
sales / Revenue |
0.82 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fair in its line.
l
SC’s net profit margin is poor
l
SC’s return on total assets is fair.
l
SC’s cost of goods sold is average, comparing with
its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears fairly large.
l
SC has no accounts receivable.
l
SC has no short-term loans.
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with
fair financial conditions. The fairly 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.49.24 |
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UK Pound |
1 |
Rs.76.80 |
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Euro |
1 |
Rs.67.17 |
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 |
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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.