MIRA
INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
WUJIANG
EVERGREEN EX/IM CO., LTD. |
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Registered Office : |
Room 606, International Trade Building, No. 500, Renmin Road,
Wujiang, Jiangsu Province, 215200 PR |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.07.2009 |
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Com. Reg. No.: |
320584000215512 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Engaged in international trade. |
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No. of Employees : |
7 |
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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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Moderate |
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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 30, 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
WUJIANG EVERGREEN EX/IM CO., LTD.
ROOM 606, INTERNATIONAL TRADE BUILDING, NO. 500,
RENMIN ROAD, WUJIANG, JIANGSU PROVINCE, 215200 PR CHINA
TEL: 86 (0)
512-85165598/85165597
FAX: 86 (0) 512-85165579
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 13, 2009
REGISTRATION NO. : 320584000215512
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 7
REGISTERED CAPITAL :
CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 139,190,000 (UNAUDITED,
AS OF DEC. 31, 2011)
EQUITIES : CNY 2,090,000 (UNAUDITED,
AS OF DEC. 31, 2011)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.3009 = 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: Repeated
calls made to the given tel. no. (0512-63080719) went unanswered
during office hours, and SC's staff released that the given tel. no. and fax
no. belong to SC’s supplier, but the detail is unspecified.
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 July 13, 2009.
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 general business scope:
importing and exporting commodities and technologies; selling needle textile, chemical
fiber, clothing, apparel, footwear, textile machinery parts and general
merchandise.
SC is mainly
engaged in international trade.
Ms. Zhang Xiaofen
is legal representative, chairman and general manager at present.
SC is known
to have approx. 7 employees
at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Wujiang. Our checks reveal that SC
rents the total premise about 170 square meters.
http://www.evergreenwjtex.com The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: crescenttex@163.com ; rainy@evrgreentex.cn
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Xiaofen 100
ID# 320525197211201525
l
Legal Representative, Chairman and General Manager:
Ms. Zhang Xiaofen, ID# 320525197211201525,
born in 1972, with junior college education. She is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative, chairman and general manager.
l
Supervisor:
Fan Wenbin ID#
320525197208161518
SC is mainly engaged in international trade.
SC’s products
mainly include: textile fabrics, woven garments, knitted garments, etc.
SC sources its
materials 100% from domestic market. SC sells 10% of its products in domestic
market, and 90% 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’s management declined to release its major suppliers and clients.
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 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.
Bank of Communication Wujiang Economic Development Zone Sub-branch
AC#：389683605018010000291
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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Unaudited, as of Dec. 31, 2011 |
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Cash & bank |
4,930 |
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Notes receivable |
0 |
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Inventory |
0 |
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Accounts
receivable |
-7,520 |
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Advances to
supplies |
3,740 |
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Subsidy
receivable |
1,060 |
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Other receivables |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
2,210 |
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Long-term
investments |
0 |
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Fixed assets net
value |
0 |
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Projects under
construction |
0 |
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Intangible
assets |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
2,210 |
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============= |
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Short loans |
0 |
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Notes payable |
0 |
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Accounts payable |
30 |
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Advances from
customers |
0 |
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Accrued
payroll |
30 |
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Taxes payable |
0 |
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Other accounts
payable |
60 |
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Other
current liabilities |
0 |
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----------------- |
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Current
liabilities |
120 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
120 |
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Shareholders
equities |
2,090 |
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------------------ |
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Total
liabilities & equities |
2,210 |
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============= |
Income Statement
Unit: CNY’000
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Unaudited, as of Dec. 31, 2011 |
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Turnover |
139,190 |
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Cost of goods
sold |
137,200 |
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Taxes
and additional of main operation |
0 |
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Sales expense |
1,120 |
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Management expense |
590 |
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Finance expense |
70 |
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Non-operating
income |
10 |
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Non-operating expense |
0 |
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Profit before
tax |
220 |
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Less: profit tax |
60 |
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Net profit |
160 |
Important Ratios
=============
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as of Dec. 31, 2011 |
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*Current ratio |
18.42 |
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*Quick ratio |
18.42 |
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*Liabilities to assets |
0.05 |
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*Net profit margin (%) |
0.11 |
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*Return on total assets (%) |
7.24 |
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*Inventory /Turnover ×365 |
/ |
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*Accounts receivable/Turnover ×365 |
/ |
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*Turnover/Total assets |
62.98 |
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* Cost of goods sold/Turnover |
0.99 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good.
l
SC’s net profit margin appears average.
l
SC’s return on total assets is fairly good.
l
SC’s cost of goods sold is high, comparing with its
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
SC has no inventory in 2011.
l
SC has no short-term loan in 2011.
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SC’s turnover is in a good level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
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The debt ratio of SC is low.
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 10,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.15 |
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|
1 |
Rs.81.79 |
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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.