MIRA INFORM REPORT
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Report Date : |
04.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI ZHOU DA SHENG IMPORT & EXPORT
CO., LTD |
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Registered Office : |
Room A-303, No. 1701 Century Avenue, Pudong New Area,
Shanghai, 200122 Pr |
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Country : |
china |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.01.2007 |
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Com. Reg. No.: |
310115000989464 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Selling Jewelry |
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 50,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
---- |
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 |
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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
shanghai zhou da sheng import & export co., ltd.
room A-303, NO.
1701 CENTURY AVeNUE, pudong new area,
shanghai, 200122 PR
CHINA
TEL: 86 (0)
21-61060070 FAX: 86 (0)
21-61060071
EXECUTIVE SUMMARY
INCORPORATION DATE :
january 4, 2007
REGISTRATION NO. : 310115000989464
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : trading
TURNOVER :
CNY 177,970,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 9,640,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 50,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3816 = 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 Renminbi
SC was registered as a one-person limited liability company
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on January 4, 2007.
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 importing and exporting goods and technology, in
accordance with the license.
SC is mainly
engaged in selling jewelry.
Mr. Zou Haiqing
has been chairman and general manager of SC since 2007.
SC is known to
have approx. 3 employees at
present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. Our checks reveal that SC
covers an area of around 50 square meters.
SC is
not known to host web site of its own at present.
Changes of its registered information are as follows:
|
Date
of change |
Item |
Before the
change |
After the change |
|
Unknown |
Registration No. |
3101152029769 |
310115000989464 |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Chow Tai Seng Jewelry Co., Ltd. 100
Registration no.: 440301102925823
Registered capital: CNY 400,000,000
Legal representative: Zhou Zongwen
Tel: 0755-61866669/89968888
Web: http://www.chowtaiseng.com
l
Chairman and General Manager:
Mr. Zou Haiqing, in his
Working Experience(s):
From 2007 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in selling jewelry.
SC’s products
mainly include: Jewelry, diamonds.
SC sources its materials 60% from domestic
market, and 40% from overseas market. SC sells 100% of its products in domestic
market.
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T and Credit of 30-60 days.
Note: SC refused
to release its major clients and suppliers.
SC is
known to have a branch at present:
Shanghai
Zhou Da Sheng Import & Export Co., Ltd. No. 1 Branch
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 declined to
release its bank details.
Balance Sheet
|
Unit: CNY’000 |
as
of Dec. 31, 2010 |
as
of Dec. 31, 2009 |
|
Cash & bank |
2,160 |
360 |
|
Inventory |
760 |
0 |
|
Accounts
receivable |
21,220 |
2,140 |
|
Other Accounts
receivable |
30 |
240 |
|
To be
apportioned expense |
0 |
0 |
|
Other current
assets |
0 |
10 |
|
|
------------------ |
------------------ |
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Current assets |
24,170 |
2,750 |
|
Fixed assets net
value |
20 |
10 |
|
Projects under
construction |
0 |
0 |
|
Long term
investment |
0 |
0 |
|
Other assets |
0 |
120 |
|
|
------------------ |
------------------ |
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Total assets |
24,190 |
2,880 |
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|
============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
20,030 |
0 |
|
Other Accounts
payable |
1 |
0 |
|
Tax payable |
-5,481 |
-2,370 |
|
Withdraw the
expenses in advance |
0 |
0 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
14,550 |
-2,370 |
|
Long term
liabilities |
0 |
0 |
|
Other
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
14,550 |
-2,370 |
|
Equities |
9,640 |
5,250 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
24,190 |
2,880 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
as of Dec. 31,
2010 |
as of Dec. 31,
2009 |
|
Turnover |
177,970 |
61,000 |
|
Cost of goods
sold |
197,290 |
68,200 |
|
Sales expense |
0 |
0 |
|
Management expense |
1,120 |
460 |
|
Finance expense |
-420 |
110 |
|
Subsidy income |
0 |
8,170 |
|
Non-operating
income |
25,640 |
0 |
|
Profit before
tax |
5,620 |
1,030 |
|
Less: profit tax |
1,240 |
210 |
|
Profits |
4,380 |
820 |
Important
Ratios
=============
|
|
As
of Dec. 31, 2010 |
As
of Dec. 31, 2009 |
|
*Current ratio |
1.66 |
-1.16 |
|
*Quick ratio |
1.61 |
-1.16 |
|
*Liabilities
to assets |
0.60 |
-0.82 |
|
*Net profit
margin (%) |
2.46 |
1.34 |
|
*Return on
total assets (%) |
18.11 |
28.47 |
|
*Inventory
/Turnover ×365 |
2 days |
/ |
|
*Accounts
receivable/Turnover ×365 |
44 days |
13 days |
|
*Turnover/Total
assets |
7.36 |
21.18 |
|
* Cost of
goods sold/Turnover |
1.11 |
1.12 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, and
it increased greatly in 2010.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is good in both years.
l
SC’s cost of goods sold is too high, comparing with
its turnover in both years.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal level in 2010.
l
SC’s quick ratio is maintained in a normal level in 2010.
l
The inventory of SC is small in 2010.
l
The accounts receivable
of SC is large in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a good level, comparing with
the size of its total assets in both years.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in 2010.
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 at the above
amount appears to be 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.45.90 |
|
UK Pound |
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
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.