MIRA INFORM REPORT
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Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
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Name : |
CHANGZHOU PRO TECH TRADE CO., LTD. |
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Registered Office : |
No. 1004, Part B, Construction Building, Xinbei
District, Changzhou, Jiangsu Province 213022 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
11.06.2004 |
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Com. Reg. No.: |
320407000036750 |
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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 |
|
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 30,000 |
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Status : |
Moderate |
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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) |
|
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
changzhou pro tech trade co., ltd.
No. 1004, Part B,
Construction Building, Xinbei District, Changzhou
jiangsu province
213022 PR CHINA
TEL: 86 (0)
519-85123791/85123792/85153173
FAX: 86 (0)
519-85123795
EXECUTIVE SUMMARY
Date of Registration : June 11, 2004
REGISTRATION NO. : 320407000036750
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 1,000,000
staff : 13
BUSINESS CATEGORY : trading
Revenue :
CNY 89,340,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 2,250,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
30,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.37 = 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.: 320407000036750 on June 11,
2004.
SC’s Organization Code Certificate No.:
76283727-X
SC’s Tax No. 32040076283727X
SC’s registered capital: cny 1,000,000
SC’s paid-in capital: cny 1,000,000
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 |
|
Shan Xiaowu |
70 |
|
Wang Zhijun |
15 |
|
Gu Chunying |
15 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Shan Xiaowu |
|
General Manager |
Wang
Zhijun |
|
Supervisor |
Gu
Chunying |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shan Xiaowu 70
Wang Zhijun 15
Gu Chunying 15
MANAGEMENT
Shan Xiaowu, Legal Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2004 to present, working in SC as legal representative
and chairman
Also
working in Changzhou Pro-tech Industry Co., Ltd. as legal representative
Wang
Zhijun, General Manager
------------------------------------------------------
Ø
Gender: M
Ø
Mobile: 86-13861007817
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as general manager
Gu Chunying, Supervisor
---------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
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:
·
Direct Roving
·
Assembled Roving
·
Chopped Strands & Milled
Fibers
·
Bobbin Yarn
·
Woven Roving
·
Chopped Strand Mat
·
Woven Roving Combo Mat
·
Multi Axial Fabrics
·
Core Combo Mat (Combiflow)
·
Technical Weave Fabrics
·
Continuous Monu-Filament Mat
·
Fiberglass Mesh
·
High Temperature Protection
Fabrics
Etc.
SC sources its materials 100% from domestic
market, mainly Jiangsu. SC sells 25% of its products in domestic market, and
75% to overseas market, mainly Southeast Asian market.
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.
*Major Supplier:
============
Changzhou Pro-tech
Industry Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 13
staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Changzhou
Pro-tech Industry Co., Ltd.
-----------------------------------------------------
Web: www.cn-protech.com
E-mail: info@cn-protech.com
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: Fiberglass
Products
Date account opened: Since 2009 to present
Line of credit: N/A
Terms: 30
days
Average monthly sales: N/A
Current balance: N/A
Rating Key: 4
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.
FINANCIAL data
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
6,610 |
|
|
Accounts
receivable |
-380 |
|
Advances to
suppliers |
0 |
|
Other receivable |
19,060 |
|
Inventory |
2,870 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
10 |
|
|
------------------ |
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Current assets |
28,170 |
|
Fixed assets |
400 |
|
Construction in
progress |
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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Total assets |
28,570 |
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|
============= |
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Short-term loans |
0 |
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Accounts payable |
18,130 |
|
Wages payable |
0 |
|
Advances from
clients |
0 |
|
Other payable |
720 |
|
Other current
liabilities |
7,470 |
|
|
------------------ |
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Current
liabilities |
26,320 |
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Non-current
liabilities |
0 |
|
|
------------------ |
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Total
liabilities |
26,320 |
|
Equities |
2,250 |
|
|
------------------ |
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Total
liabilities & equities |
28,570 |
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|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
89,340 |
|
Cost of sales |
84,130 |
|
Sales expense |
3,590 |
|
Management expense |
1,080 |
|
Finance expense |
190 |
|
Profit before
tax |
320 |
|
Less: profit tax |
50 |
|
270 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
|
*Current ratio |
1.07 |
|
*Quick ratio |
0.96 |
|
*Liabilities
to assets |
0.92 |
|
*Net profit
margin (%) |
0.30 |
|
*Return on
total assets (%) |
0.95 |
|
*Inventory /
Revenue ×365 |
12 days |
|
*Accounts
receivable/ Revenue ×365 |
-- |
|
*
Revenue/Total assets |
3.13 |
|
* Cost of
sales / Revenue |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
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.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC is maintained in an average
level.
l
SC has no short-term loan in 2010.
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.
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 30,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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 |
|
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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.