MIRA
INFORM REPORT
|
Report Date : |
29.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI LONGSHA CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
169 Seat, 3/F, No. 989, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
02.05.2006 |
|
|
|
|
Com. Reg. No.: |
310115000949027 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Co. |
|
|
|
|
Line of Business : |
-- |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company Name and address
SHANGHAI
LONGSHA CHEMICAL CO., LTD.
169 SEAT, 3/F, NO. 989,
SHANGHAI 200122 PR
TEL: N/A FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
2, 2006
REGISTRATION NO. :
310115000949027
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY CO.
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 1,000,000
REGISTERED BUSINESS LINE : TRADING
TURNOVER :
CNY 34,102,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 8,964,000 (AS OF DEC. 31, 2009)
PAYMENT :
NOT YET DETERMINED
RECOMM.
MARKET CONDITION :
AVERAGE (AS OF DEC. 31, 2009)
FINANCIAL CONDITION :
STABLE (AS OF DEC. 31, 2009)
OPERATIONAL TREND : FAIRLY STEADY (AS OF DEC. 31,
2009)
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.4977=USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY –
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 May 2, 2006, and has been under present legal
form since 2007.
Company Status: One-person limited liability co. 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 CNY 100,000. 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 selling chemical raw material
and product, fertilizer, building materials, metal material, hardware,
electrical & mechanical equipment, textiles, packaging materials and steel
and consulting services related to above business, importing and exporting
commodities and technologies.
Mr.
Jin Peican is registered as legal
representative of SC.
It
is not possible to contact the company directly to obtain further information.
The nature and extent of the company's operations could not be determined and
it could not be confirmed whether the company operates from the Registered
Office address or in another location.
SC is not known to have website of its own at present.
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2007 |
Shareholders |
Hangzhou Longshan Chemical Co., Ltd. 80% Hangzhou Longshan Fine Chemical Co., Ltd.
(Literal translation) 20% |
Present one |
|
Legal Form |
Limited liabilities co. |
||
|
2010 |
Legal representative |
Peng Li |
Present one |
Tax Registration Certificate No.: 310115787878035
Organization Code: 78787803-5
MAIN
SHAREHOLDERS:
Name % of
shareholdings
Zhejiang Longhua Holding Group Co., Ltd.
(Literal translation)
100
Registration no.: 330100000005621
Legal representative: Ruan Weixiang
Incorporation date:
Registered capital: CNY 59,380,000
l
Legal Representative:
Mr. Jin Peican
We dialed SC’s registered tel. no. in local AIC (021-68768063), but it
does not belong to SC at present.
Exhausting our efforts,
we are unable to find SC’s telephone number in various information sources,
including the internet, yellow pages and telecom companies.
We are unable to contact SC. Therefore, the nature and
extent of SC’s operations could not be determined.
According to the information from local AIC:
*Major Clients
============
Hangzhou Longshan Fine Chemical Co., Ltd.
(Literal translation)
Hangzhou Changzheng Chemical Reagent
Co., Ltd. (Literal translation)
Etc.
*Major Suppliers
==============
Hangzhou Longsheng Chemical Co., Ltd.
Huangshan Longsheng Chemical Co., Ltd.
Etc.
Hangzhou Longshan Chemical Co., Ltd.
Zhejiang Longsheng Group Co., Ltd.
Shangyu Jinguan Chemical Co., Ltd. (literal translation)
Etc.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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.
Industrial and Commercial Bank of
AC#:
1001182609000088597
Relationship:
Balance Sheet
Unit: CNY’000
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2008 |
|
Cash & bank |
2,565 |
5,238 |
|
Inventory |
98 |
85 |
|
Notes receivable |
790 |
2,271 |
|
Accounts
receivable |
3,787 |
2,669 |
|
Advances to
suppliers |
1,567 |
22 |
|
Other accounts
receivable |
785 |
401 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
9,592 |
10,686 |
|
Fixed assets net
value |
11 |
4 |
|
Project under
construction |
0 |
0 |
|
Long term
investment |
0 |
0 |
|
Intangible
assets |
0 |
0 |
|
Other assets |
53 |
26 |
|
|
------------------ |
------------------ |
|
Total assets |
9,656 |
10,716 |
|
|
============= |
============= |
|
Short loans |
0 |
0 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
97 |
1,261 |
|
Advances from
clients |
117 |
84 |
|
Welfare payable |
0 |
0 |
|
Taxes payable |
478 |
106 |
|
Other accounts
payable |
0 |
1,900 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
692 |
3,351 |
|
Long-term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
692 |
3,351 |
|
Equities |
8,964 |
7,365 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
9,656 |
10,716 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31,
2009 |
As of Dec. 31,
2008 |
|
Turnover |
34,102 |
73,904 |
|
Cost of goods sold |
31,724 |
68,752 |
|
Tax and additional of main operation |
26 |
23 |
|
Sales expense |
72 |
359 |
|
Management expense |
128 |
157 |
|
Finance expense |
20 |
126 |
|
Profit before
tax |
2,133 |
4,543 |
|
534 |
830 |
|
|
Profits |
1,599 |
3,713 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2008 |
|
*Current ratio |
13.86 |
3.19 |
|
*Quick ratio |
13.72 |
3.16 |
|
*Liabilities
to assets |
0.07 |
0.31 |
|
*Net profit
margin (%) |
4.69 |
5.02 |
|
*Return on
total assets (%) |
16.56 |
34.65 |
|
*Inventory
/Turnover ×365 |
2 days |
1 day |
|
*Accounts
receivable/Turnover ×365 |
41 days |
14 days |
|
*Turnover/Total
assets |
3.53 |
6.90 |
|
*Cost of goods
sold/Turnover |
0.93 |
0.93 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears average in its line, but
it decreased greatly in 2009.
l
SC’s net profit margin is fairly good in both
years.
l
SC’s return on total assets is good in both years.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover in both years.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears small in both years.
l
The accounts receivable of SC appears average in
both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets in both years.
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 (As of Dec. 31, 2009).
Despite having exhausted all our effort, we are unable to contact SC. If further contact details of SC can be
provided, we will definitely continue this research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
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.