MIRA INFORM REPORT
|
Report Date : |
20.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHANGZHOU ELLY INDUSTRIAL IMPORT & EXPORT
CO., LTD. |
|
|
|
|
Registered Office : |
C804, No. 391, Tongjiang Middle Road, Xinbei District, Changzhou, Jiangsu Province, 213000 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
30.03.2009 |
|
|
|
|
Com. Reg. No.: |
320407000113941 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Selling Chemical
Products |
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 5,000 |
|
Status : |
Small Company |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 & address
Changzhou Elly Industrial Import & Export Co., Ltd.
C804, NO. 391,
Tongjiang Middle Road, Xinbei District, Changzhou,
jiangsu PROVINCE,
213000 PR CHINA
TEL: 86 (0)
519-85175532 FAX: 86 (0)
519-85175539
EXECUTIVE SUMMARY
INCORPORATION DATE : march 30, 2009
REGISTRATION NO. : 320407000113941
REGISTERED LEGAL
FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 800,000
BUSINESS LINE :
trading
TURNOVER :
CNY 18,180,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 900,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 5,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.4641 = USD1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
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 30, 2009, and has been under present legal form since 2011.
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
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, information consulting service, selling chemical products.
SC is mainly
engaged in selling chemical products.
Ms. Shen Qingshu
has been chairman and general manager of SC since 2009.
SC is known to
have approx. 6 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Changzhou. Our checks reveal that SC
rents the total premise about 80 square meters.
http://www.ellycn.com
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: Elly@ellycn.com
SC started its normal operation in August of 2009.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2011-1 |
Shareholders (% of shareholding) |
Shen Qingshu沈清淑80% Zhou Qiao周乔20% |
Present one |
|
Registered Legal Form |
limited liabilities company |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Yancheng Bvco Chemical Industry Co., Ltd. 100
Yancheng Bvco Chemical Industry Co., Ltd. is
located in Funing County Eco-chemical Park in Jiangsu. Formerly the Jiangsu
Funing Shenhua Chemical Plant founded in 1994, the company is now mainly
engaged in the manufacture and sales of food preservatives, pharmaceutical
intermediates, pesticide intermediates as well as 4-Hydroxybenzoic acid,
4-Hydroxybenzoic acid esters, Methyl 4-hydroxybenzoate sodium salts and
derivatives of 4-Hydroxybenzoic acid. The company has an occupied floor area of
11.5 sq. meters and fixed assets of over 80 million RMB.
Registration no.: 320923000006787
Tel: 0515- 87883288
Fax: 0515-87883066
Website: http://www.bvco.com.cn/
l
Chairman and General Manager:
Ms. Shen Qingshu, ID# 320421197610047720, born in 1976 with university
education. She is currently responsible for the overall management of SC.
Working Experience(s):
From 2009 to present Working
in SC as chairman and general manager.
l
Supervisor:
Zhou Qiao ID# 320421197107227716
SC started its normal operation in August of 2009.
SC is mainly
engaged in selling chemical products.
SC’s products mainly
include: pyridine series, phenol series, bromide and chloride series, paraben
series, pharmaceutical intermediates.
Pyridine series:
2-chloro-3-amino-4-Methylpyridne
2-chloro-N-(2-chlor-4-methyl-3-pyridyl)-3-pyridine caboxamide
Phenol series:
2-Cyanophenol, 2-hydroxybenzonitrile
4-Cyanopheno, 4-hydroxybenzonitrile
Bromide and chloride series:
Etc.
Paraben series:
Etc.
Pharmaceutical intermediates:
1,1-Cyclohexanediacetic acid (CDA)
1,1-Cyclohexanediacetic acid mono amide (CAM)
(S)-(+)-α,α-Diphenyl-2-Pyrrolidinemethanol
(R)-(+)-α,α-Diphenyl-2-pyrrolidinemethanol
Etc.
SC sources its merchandise 100% from
domestic market, mainly Jiangsu. SC sells 100% of its products 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.
Note: SC refused
to release its major clients and suppliers.
SC is not
known to have any subsidiary at present.
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.
Agricultural
Bank of China Changzhou Xinbei Sub-branch
AC# 309615101040215397
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Cash & bank |
50 |
|
Inventory |
0 |
|
Bills receivable |
0 |
|
Accounts
receivable |
4,350 |
|
Other Accounts
receivable |
10 |
|
Advances to
suppliers |
0 |
|
To be
apportioned expense |
20 |
|
Other current
assets |
0 |
|
|
------------------ |
|
Current assets |
4,430 |
|
Fixed assets net
value |
100 |
|
Long-term
investment |
0 |
|
Intangible and
other assets |
0 |
|
|
------------------ |
|
Total assets |
4,530 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
3,290 |
|
Advance from
customers |
0 |
|
Other Accounts
payable |
280 |
|
Notes payable |
0 |
|
Taxes payable |
50 |
|
Surcharge
payable |
10 |
|
Withdraw the
expenses in advance |
0 |
|
Other current liabilities |
0 |
|
|
------------------ |
|
3,630 |
|
|
Long term
liabilities |
0 |
|
Other
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
3,630 |
|
Equities |
900 |
|
|
------------------ |
|
4,530 |
|
|
|
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31, 2010 |
|
Turnover |
18,180 |
|
Cost of goods sold |
17,120 |
|
Taxes and additional of main operation |
0 |
|
Sales expense |
50 |
|
Management expense |
530 |
|
Finance expense |
210 |
|
Non-operating
income |
0 |
|
Non-operating expense |
10 |
|
Profit before
tax |
260 |
|
Less: profit tax |
30 |
|
Profits |
230 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
|
*Current ratio |
1.22 |
|
*Quick ratio |
1.22 |
|
*Liabilities
to assets |
0.80 |
|
*Net profit
margin (%) |
1.27 |
|
*Return on
total assets (%) |
5.08 |
|
*Inventory
/Turnover ×365 |
/ |
|
*Accounts
receivable/Turnover ×365 |
87 days |
|
*Turnover/Total
assets |
4.01 |
|
* Cost of
goods sold/Turnover |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover.
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 accounts receivable of SC is large.
l
SC has no inventory and short-term loan in 2010.
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 small-sized in its line with fairly stable financial
conditions. The large amount of accounts receivable
could be a threat to SC’s financial condition. 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.49.18 |
|
UK Pound |
1 |
Rs.77.49 |
|
Euro |
1 |
Rs.67.96 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.