MIRA INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.05.2003 |
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Com. Reg. No.: |
340122000008917 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
processing and selling peanuts |
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No. of Employees
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140 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 300,000 |
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Status : |
Satisfactory |
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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) |
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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
ANHUI KAILI CEREALS OILS AND FOODSTUFFS CO.,
LTD.
no. 18 park road,
xincheng development zone, feidong county
hefei, anhui province
231600 PR CHINA
TEL: 86 (0)
551-7745568/7702158
FAX: 86 (0)
551-7744866/7758102
EXECUTIVE SUMMARY
Date of Registration : may 27, 2003
REGISTRATION NO. : 340122000008917
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 31,600,000
staff : 140
BUSINESS CATEGORY :
processing & trading
Revenue : CNY 210,240,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 40,310,000 (AS OF
DEC. 31, 2011)
WEBSITE : www.kailily.com
E-MAIL :
kaililiangyou@163.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
300,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = USD 1
Adopted abbreviations
(as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect of
its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not yet be determined
Not yet be determined
LEGAL STATUS
& HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 340122000008917 on May 27,
2003.
SC’s Organization Code Certificate
No.: 75095199-9
SC’s registered capital: cny 31,600,000
SC’s paid-in capital: cny 31,600,000
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chen Wei |
80 |
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Chen Zhengqun |
10 |
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Wu Guoshan |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Chen
Wei |
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Director/Supervisor |
Chen
Zhengqun |
|
Wu
Guoshan |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Chen Wei 80
Chen Zhengqun 10
Wu Guoshan 10
MANAGEMENT
Chen
Wei, Legal Representative, Chairman and General
Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director/Supervisor
--------------------------
Chen Zhengqun
Wu Guoshan
BUSINESS OPERATION
SC’s registered business scope includes purchasing,
processing and selling peanuts and other agricultural and sideline products.
SC is
mainly engaged in processing and selling peanuts.
SC’s
products mainly include: peanut products.
SC sources its materials 100% from domestic
market, mainly Anhui. SC sells 40% of its products in domestic market, and 60%
to overseas market, mainly Europe, Southeast Asia, Mid East, etc.
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.
Staff & Office:
--------------------------
SC is
known to have approx. 140
staff at present.
SC owns an area as
its operating office & factory of approx. 10,000 sq. meters at the heading
address.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Agricultural
Development Bank of China
AC#: N/A
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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3,070 |
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Accounts
receivable |
40,070 |
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Advances to
suppliers |
0 |
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Other receivable |
2,390 |
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Inventory |
34,730 |
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Non-current
assets within one year |
0 |
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Other current
assets |
30 |
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------------------ |
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Current assets |
80,290 |
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Fixed assets |
16,880 |
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Construction in
progress |
0 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
930 |
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------------------ |
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Total assets |
98,100 |
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============= |
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Short-term loans |
49,000 |
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Notes payable |
0 |
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Accounts payable |
100 |
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Wages payable |
0 |
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Taxes payable |
0 |
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Advances from
clients |
0 |
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Other payable |
8,740 |
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Other current
liabilities |
-50 |
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------------------ |
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Current
liabilities |
57,790 |
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Non-current
liabilities |
0 |
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Total liabilities |
57,790 |
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Equities |
40,310 |
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Total
liabilities & equities |
98,100 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2011 |
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Revenue |
210,240 |
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Cost of sales |
194,640 |
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Sales expense |
2,190 |
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Management expense |
2,280 |
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Finance expense |
4,580 |
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Profit before
tax |
8,400 |
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Less: profit tax |
360 |
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8,040 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.39 |
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*Quick ratio |
0.79 |
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*Liabilities
to assets |
0.59 |
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*Net profit
margin (%) |
3.82 |
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*Return on
total assets (%) |
8.20 |
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*Inventory /
Revenue ×365 |
61 days |
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*Accounts
receivable/ Revenue ×365 |
70 days |
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*
Revenue/Total assets |
2.14 |
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* Cost of
sales / Revenue |
0.93 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
fairly good 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 sales is fairly high, comparing with
its revenue.
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 an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
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.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions. The large amount of short-term loans
may be a threat to SC’s financial condition. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 300,000 is recommended. upon a periodical review basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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.