MIRA INFORM REPORT
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Report Date : |
09.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI SINTANG INDUSTRIAL CO., LTD. |
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Registered Office : |
No. 2318, Jialuo Road, Jiading District,
Shanghai, 201822 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.: |
310114001914822 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Massage Equipment |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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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) |
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China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 sintang
industrial CO., LTD.
NO. 2318, JIALUO
ROAD, JIADING DISTRICT, SHANGHAI, 201822 PR CHINA
TEL: 86 (0)
21-39972281-833 FAX: 86 (0)
21-39971236
EXECUTIVE SUMMARY
INCORPORATION DATE : NOV. 24, 2008
REGISTRATION NO. : 310114001914822
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 16,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
n/A
EQUITIES :
CNY 4,800,000 (AS OF DEC. 31, 2010)
PAYMENT :
Not yet determined
RECOMM. CREDIT RANGE : c.o.d.
MARKET CONDITION : N/A
FINANCIAL CONDITION : Fairly stable (AS OF DEC. 31, 2010)
OPERATIONAL TREND : fair
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3857 = 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 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 manufacturing & selling 1st class of
medical equipment, fitness equipment; selling daily necessities, cosmetic,
bedding and pet supplies; investment management, business consulting,
enterprise management consulting, exhibition service, building decoration
project; owned-house leasing
SC’s main business
was manufacturing and selling massage equipment, but SC’s accountant Ms. Guo
released that SC ceased operation since the
beginning of 2011 and in the stage of reconstruction now.
Mr. Du Chuankui is
legal representative and chairman of SC at present.
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 and factory in the industrial zone of Shanghai. SC’s employee refused
to release the detailed information of the premise.
http://www.dandu.net/ The design is
professional and the content is well organized. At present it is in Chinese,
English and other versions.
Email: info@dandu.net
SC’s accountant Ms. Guo released that SC is in the stage of
reconstruction now.
No significant changes were found during our checks with local AIC.
MAIN
SHAREHOLDERS:
Name % of
Shareholding
Du Chuankui 39.75
Xu Yong 20.25
Li Jie 40
l
Legal representative and chairman:
Mr. Du Chuankui is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in Shanghai Sintang Trading Co., Ltd. as legal representative.
SC’s main business
was manufacturing and selling massage equipment, but SC’s accountant Ms. Guo
released that SC ceased operation since the
beginning of 2011 and in the stage of reconstruction now.
According
to SC’s website, SC is known to invest in the following company:
Shanghai
Sintang Trading Co., Ltd.
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 records 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.
SC declined to
release its banking details.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2010 |
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Cash & bank |
470 |
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Inventory |
430 |
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Accounts
receivable |
30 |
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Other Accounts
receivable |
15,630 |
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Advances to
suppliers |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
16,560 |
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Fixed assets net
value |
20 |
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Long-term
investment |
0 |
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Intangible and
other assets |
50 |
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------------------ |
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Total assets |
16,630 |
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============= |
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Short loans |
0 |
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Accounts payable |
380 |
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Advance from
customers |
70 |
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Accrued payroll |
30 |
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Other Accounts
payable |
11,320 |
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Taxes payable |
30 |
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Other current
liabilities |
0 |
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------------------ |
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11,830 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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------------------ |
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Total
liabilities |
11,830 |
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Equities |
4,800 |
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------------------ |
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16,630 |
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Note: We did not find SC’s income statement from local AIC.
Important Ratios
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As
of Dec. 31, 2010 |
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*Current ratio |
1.40 |
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*Quick ratio |
1.36 |
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*Liabilities
to assets |
0.71 |
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*Net profit
margin (%) |
/ |
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*Return on
total assets (%) |
/ |
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*Inventory
/Turnover ×365 |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
/ |
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* Cost of
goods sold/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 inventory of SC is maintained in an average
level.
l
The accounts receivable
of SC is maintained in a small level.
l
SC has no short-term loan in 2010.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable (As of Dec. 31, 2010).
SC is considered small-sized in its line with fairly stable financial
conditions. A credit line at the above amount appears
to be beyond SC’s capacities; taking into consideration of SC’s present
status, credit dealings with SC should be confined into C.O.D. at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.18 |
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UK Pound |
1 |
Rs.73.65 |
|
Euro |
1 |
Rs.64.95 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.