MIRA INFORM REPORT

 

 

Report Date :

19.10.2011

 

IDENTIFICATION DETAILS

 

Name :

NEOMARK (TIANJIN) INK CO., LTD.

 

 

Registered Office :

No. 10, Xiyuan Road, Youyi Road, Hexi District, Tianjin 300061 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

08.03.2006

 

 

Com. Reg. No.:

120000400047719

 

 

Legal Form :

Chinese-Foreign Equity Joint Venture Enterprise

 

 

Line of Business :

Manufacturing, processing and selling inks and related raw materials, goods import and export.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 50,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

NEOMARK (TIANJIN) INK CO., LTD.

NO. 10, XIYUAN ROAD, YOUYI ROAD, HEXI DISTRICT, TIANJIN 300061 PR CHINA

TEL: 86 (0) 22-28350717

FAX: 86 (0) 22-28378518

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : march 8, 2006

REGISTRATION NO.                  : 120000400047719

LEGAL FORM                           : Chinese-foreign equity joint venture enterprise

CHIEF EXECUTIVE          : huang zhimin (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : usd 200,000

staff                                      : 20

BUSINESS CATEGORY             : manufacturing

Revenue                                : CNY 31,696,000 (AS OF DEC. 31, 2010)

EQUITIES                                 : CNY 5,567,000 (AS OF DEC. 31, 2010)

WEBSITE                                 : www.neomark.cn

E-MAIL                                     : neomark_ink@neomark.cn

PAYMENT                                : AVERAGE

Recommended Credit Limit: UP TO USD 50,000

MARKET CONDITION                : average

FINANCIAL CONDITION             : stable

OPERATIONAL TREND              : STEADY

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

 

***Note: SC’s address should be the heading one, while SC’s Sales Departments locates the given address (807, A Building, Ictc 59 Machang Road Hexi District, Tianjin 300203).

 

SC was established as a Chinese-foreign equity joint venture enterprise of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 120000400047719 on March 8, 2006.

 

SC’s Tax No.: 120110783326014

 

SC’s Customs Registration No.: 121093030

 

SC’s registered capital: usd 200,000

 

SC’s paid-in capital: usd 200,000

 

Registration Change Record:

Date

Change of Contents

Before the change

After the change

--

Registration No.

018228

120000400047719

 

Current Co search indicates SC’s shareholders & chief executives are as follows:-

 

Name of Shareholder (s)

% of Shareholding

Jia Guangyuan

50

Gonglong Hong Kong Ltd.

 

50

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative and Chairman

Huang Zhimin

General Manager

Jia Guangyuan

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                               % of Shareholding

 

Jia Guangyuan                                                               50

 

Gonglong Hong Kong Ltd.                                               50

 

 

MANAGEMENT

 

Huang Zhimin , Legal Representative and Chairman

-------------------------------------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

 

At present, working in SC as legal representative and chairman

 

Jia Guangyuan , General Manager

--------------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

 

At present, working in SC as general manager

 

 

Tang Wenbin , Sales Manager

--------------------------------------------------

Ø         Gender: M

Ø         Tel: 86 22-28350717-601

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes manufacturing, processing and selling inks and related raw materials, goods import and export.

 

SC is mainly engaged in manufacturing and selling inks and related raw materials.

 

Brand: NEOMARK

 

SC’s products mainly include:

Dye Inks

Pigment Inks

Invisible Inks

Firefly Inks

  

SC sources its materials 90% from domestic market, and 10% from overseas market, mainly Taiwan. SC sells 97% of its products in domestic market, and 3% to overseas market, mainly Taiwan.

 

The import & export status of SC in 2010 is as follows,

Country

Amount of Exports (USD)

Amount of Imports (USD)

Taiwan

125,515

58,003

 

-------------------

-------------------

Total Amount

125,515

58,003

 

The buying terms of SC include T/T, L/C 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. 20 staff at present.

 

SC rents an area as its operating office and factory, 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

 

Basic Bank:

 

Bank of China Tianjin Branch

 

AC#: N/A

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2010

Long term investment

0

Total assets

11,478

 

-------------

Long term liabilities

0

Total liabilities

5,911

Equities

5,567

 

-------------

Revenue

31,696

Profit before tax

2,653

Less: profit tax

335

Profits

2,318

 

Note: The detailed financials for Y2010 are not available in SAIC.

 

Important Ratios

=============

 

As of Dec. 31, 2010

*Liabilities to assets

0.51

*Net profit margin (%)

7.31

*Return on total assets (%)

20.20

* Revenue/Total assets

2.76

 

 

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: FAIRLY GOOD

l         The revenue of SC appears average in its line.

l         SC’s net profit margin is fairly good.

l         SC’s return on total assets is fairly good.

 

LIQUIDITY: AVERAGE

l         SC’s revenue is in an average level, comparing with the size of its total assets.

 

LEVERAGE: AVERAGE

l         The debt ratio of SC is low.

l         The risk for SC to go bankrupt is average.

 

Overall financial condition of the SC: Stable.

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with stable financial conditions. A credit line at the above amount appears beyond SC’s capacities, while a credit line up to USD 50,000 is recommended.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.58

Euro

1

Rs.67.58

 

 

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

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.