MIRA INFORM REPORT
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Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN DONGLINTAI IMPORT & EXPORT CO.,
LTD. |
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Registered Office : |
Room 2123, 21/F, Changping Business Building, Honghua Road, Futian Free
Trade Zone, Futian District, Shenzhen City, Guangdong Province,
518045 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.11.2008 |
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Com. Reg. No.: |
440301103728090 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Exporting
Electronic Products and Garments. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
SHENZHEN
DONGLINTAI IMPORT & EXPORT CO., LTD.
ROOM 2123, 21/F, CHANGPING BUSINESS
BUILDING, HONGHUA ROAD,
FUTIAN FREE TRADE ZONE, FUTIAN DISTRICT,
SHENZHEN CITY,
GUANGDONG PROVINCE, 518045 PR CHINA
TEL: 86 (0) 755-33366228 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOV. 24, 2008
REGISTRATION NO. :
440301103728090
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 8
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 50,846,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 1,079,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3819=USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY – China Yuan Ren Min Bi
Note: the given name “Shenzhen Tomlamtai Import and Export Co., Ltd.” is SC’s trade name.
SC was registered as a limited liabilities co. at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Nov. 24, 2008.
Company Status: Limited Liabilities Co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes domestic trading (except franchised,
controlled, and special goods), import and export business (except the forbid
ones, with permit if needed), information consultation (except of talent
agency, securities, insurance, financial services and other restricted items).
SC is
mainly engaged in exporting electronic products and garments.
Mr. Hong
Qingzan has been chairman, legal representative & general manager of SC
since 2010.
SC is known
to have approx. 8 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the free trade zone of Shenzhen. The detail information of
the total premise is unspecified.
SC is not known to have website of its own at present.
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2010-3 |
Legal Representative |
Luo Xifa |
Chen Yuzhen |
|
Shareholders |
Luo Xifa
98% Zhang Haoqi 2% |
Chen Yuzhen 98% Zhang Haoqi 2% |
|
|
2010-6 |
Legal Representative |
Chen Yuzhen |
Present one |
|
Shareholders |
Chen Yuzhen 98% Zhang Haoqi 2% |
Zhang Haoqi 2% Hong Qingzan 98% |
|
|
2011-5 |
Legal Representative |
Zhang Haoqi 2% Hong Qingzan 98% |
Present ones |
MAIN
SHAREHOLDERS:
Name
% of
shareholdings
Hong Qingzan 98
Xu Peiquan 2
l
Chairman, Legal Representative & General
Manager:
Mr. Hong Qingzan is currently responsible for the overall management of SC
Working
Experience(s):
From 2010 to present Working in SC as chairman, legal representative & general manager
l
Supervisor:
Zhang Haoqi
SC is mainly
engaged in exporting electronic products and garments.
SC’s products
mainly include: electronic goods, garments, etc.
SC sources its materials 100% from domestic
market. SC sells 100% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note:
SC refused to release its main customers 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 records 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.
SC’s bank information is not found in local AIC.
Financial Summary
Unit: CNY’000
|
|
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
|
Total liabilities |
9,166 |
10,570 |
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Equities |
1,063 |
1,079 |
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|
------------------ |
------------------ |
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Total liabilities & equities |
10,229 |
11,649 |
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|
============= |
============= |
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Turnover |
49,801 |
50,846 |
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Profit before tax |
63 |
55 |
|
Less: profit tax |
16 |
39 |
|
Profits |
47 |
16 |
Note: we did not find SC’s detailed financial
reports for Yr2009 & Yr2010.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.90 |
0.91 |
|
*Net profit
margin (%) |
0.09 |
0.03 |
|
*Return on
total assets (%) |
0.46 |
0.14 |
|
*Turnover/Total
assets |
4.87 |
4.36 |
PROFITABILITY: AVERAGE
l
The turnover of SC appears average in both years.
l
SC’s net profit margin appears average in both
years.
l
SC’s return on total assets appears average in both
years.
l
SC’s turnover is in a fairly good level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is 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. 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.49.71 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.68.05 |
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 |
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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.