MIRA INFORM REPORT
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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
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Name : |
VICTORY TECHNOLOGY INTERNATIONAL LTD. |
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Registered Office : |
No. 208, West Meijing Road, Songmushan
Industrial Zone, Dalang Town, Dongguan, Guangdong Province 523795 Pr China |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.12.2004 |
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Com. Reg. No.: |
441900000217214 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling
machinery in the field of wire and cable |
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No. of Employees
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20 |
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 50,000 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
VICTORY TECHNOLOGY INTERNATIONAL LTD.
NO. 208, WEST MEIJING
ROAD, SONGMUSHAN INDUSTRIAL ZONE
DALANG TOWN,
DONGGUAN, GUANGDONG PROVINCE 523795 PR CHINA
TEL: 86 (0)
769-85351723/85077000/83013377
FAX: 86 (0)
769-85313421
EXECUTIVE SUMMARY
Date of Registration : december 9, 2004
REGISTRATION NO. : 441900000217214
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 10,000,000
staff : 20
BUSINESS CATEGORY : MANUFACTURING
Revenue : N/A (AS OF DEC. 31, 2011)
EQUITIES : CNY 10,220,000 (AS OF DEC. 31, 2011)
WEBSITE : www.xinkeju.com
E-MAIL :
info@xinkeju.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
50,000
MARKET CONDITION : average
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.: 441900000217214 on December 9, 2004.
SC’s Organization Code Certificate No.:
76934760-1
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:
|
Date |
Change of
Contents |
Before the
change |
After the change |
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-- |
Registered
Capital |
CNY 500,000 |
CNY 10,000,000 |
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Shareholder (s) (% of Shareholding) |
Cai Yongzhong 90% Lan Xinjiao 10% |
Cai Yongzhong 90% Cai Yonghua 10% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Cai Yongzhong |
90 |
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Cai Yonghua |
10 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman,
and General Manager |
Cai Yongzhong |
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Supervisor |
Cai Yonghua |
RECENT DEVELOPMENT
SC has past the CE certificate
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Cai Yongzhong 90
Cai Yonghua 10
MANAGEMENT
Cai Yongzhong , Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Cai Yonghua, Supervisor
---------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business
scope includes manufacturing and selling machinery in the field of wire and
cable; metal products, electronic materials scaling powder.
SC is mainly
engaged in manufacturing and selling machinery in the field of wire and cable.
SC’s products mainly include: solder furnace,
melting & casting furnace, rolling machine, single die wire drawing
machine, etc.
SC sources its materials 100%
from domestic market. SC sells 5% of its products in domestic market, and 95%
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.
*Major Customer:
=============
Net Braze LLC
Staff & Office:
--------------------------
SC is
known to have approx. 20
staff at present.
SC owns an area as
its operating office & factory of approx. 2,000 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:
Bank of China Dongguan Chang’an Sub-branch
AC#:
818451478108091001
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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580 |
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Accounts
receivable |
6,880 |
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Advances to
suppliers |
12,980 |
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Other receivable |
7,780 |
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Inventory |
1,390 |
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Non-current
assets within one year |
0 |
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Other current
assets |
450 |
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------------------ |
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Current assets |
30,060 |
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Fixed assets |
1,890 |
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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 |
0 |
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------------------ |
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Total assets |
31,950 |
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============= |
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Short-term loans |
18,490 |
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Notes payable |
0 |
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Accounts payable |
820 |
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Wages payable |
0 |
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Taxes payable |
0 |
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Advances from
clients |
1,820 |
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Other payable |
250 |
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Other current
liabilities |
350 |
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Current
liabilities |
21,730 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
21,730 |
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Equities |
10,220 |
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Total
liabilities & equities |
31,950 |
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****Note: We have not found SC’s income statement
in local SAIC.
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.38 |
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*Quick ratio |
1.32 |
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*Liabilities
to assets |
0.68 |
FINANCIAL COMMENTS
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The short-term loans of SC appear large.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. A credit line up to USD 50,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.05 |
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UK Pound |
1 |
Rs.81.09 |
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Euro |
1 |
Rs.67.39 |
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.