MIRA INFORM REPORT
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Report Date : |
12.04.2012 |
sIDENTIFICATION DETAILS
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Correct Name : |
TIANJIN HENGYI HONGZE INTERNATIONAL TRADE
CO., LTD |
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Registered Office : |
Room B2106, Sunny Square, 11th |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
07.05.2010 |
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Com. Reg. No.: |
120102000068719 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Selling Imported
Wines |
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No. of Employees
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02 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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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
TIANJIN HENGYI HONGZE INTERNATIONAL TRADE CO., LTD.
ROOM B2106, SUNNY SQUARE, 11TH
JING ROAD,
HEDONG DISTRICT, TIANJIN, 300171 PR CHINA
TEL: 86 (0) 22-24212205/24220058 FAX:
86 (0) 22-24303196
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 7, 2010
REGISTRATION NO. : 120102000068719
REGISTERED LEGAL
FORM : Limited Liability Company
STAFF STRENGTH : 2
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 12,000 (UNaudited, AS OF DEC.
31, 2011)
EQUITIES :
CNY 480,000 (UNaudited, AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.30 =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
Note: According to SC’s accountant, the given address “Room
B
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license) on May 7, 2010.
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 importing and
exporting commodities; wholesaling prepackaged food; wholesaling and retailing
garments, leather products, hardware, mechanical and electrical products, food
agricultural products and office supplies, paper, chemical raw materials and
products (excluding hazardous products and easy made drugs), mineral products,
metal materials, cosmetics and artistic handicrafts. (in accordance with the
permit)
SC is mainly
engaged in selling imported wines.
Ms. Gong Tongyan has been the legal representative, chairman and
general manager of SC since 2010.
SC is
known to have approx. 2 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Tianjin. Our checks reveal that SC rents the total
premise about 30 square meters.
http://www.eg129.com/ The design is
professional and the content is well organized. At present it is in Chinese
version.
Email: hyhz129@126.com
According to SC’s accountant Mr. Hai, SC
started its normal business in December of 2010 and has a little business until
now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Gong Tongyan
70
Du Binglin
30
Legal representative,
Chairman and General manager:
Ms. Gong Tongyan , with university education.
She is currently responsible for the overall management of SC.
Working
Experience(s):
From 2010 to present Working in SC as legal representative, chairman and general manager.
Supervisor:
Du Binglin
Also working in Tianjin Sinuoda
International Freight Transportation Proxy Co., Ltd. as legal representative.
According to SC’s accountant Mr. Hai, SC started
its normal business in December of 2010.
SC is mainly
engaged in selling imported wines.
SC’s products mainly
include dry red wine and dry white wine.
SC sources its merchandise 100% from overseas market, mainly
Europe. SC sells 100% of its products in domestic market.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, T/T and Credit of 30-60
days.
Note:
SC’s management declined to release its major suppliers and clients.
Tianjin Sinuoda International Freight Transportation Proxy Co.,
Ltd.
……………………………………………………………………….
Legal representative: Du Binglin
Add:
Room B2105, Sunny Square, 11th Jing Road, Hedong District, Tianjin
Website:
http://www.tj-snd.com/
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.
Industrial and
Commercial Bank of China 11th Jing Road Sub-branch
AC#: N/A
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2011 |
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Cash & bank |
480 |
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Inventory |
0 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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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 |
480 |
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Fixed assets net
value |
0 |
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Projects under
construction |
0 |
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Long term
investment |
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 |
480 |
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============= |
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Short loans |
0 |
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Accounts payable |
0 |
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Advances from
clients |
0 |
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Salaries and
welfare payable |
0 |
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Other payable |
0 |
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Accrued expenses |
0 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
0 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
0 |
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Equities |
480 |
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------------------ |
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Total
liabilities & equities |
480 |
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============= |
Income Statement
Unit: CNY
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As
of Dec. 31, 2011 |
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Turnover |
12 |
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Cost of goods
sold |
0 |
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Sales expense |
0 |
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Management expense |
13 |
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Finance expense |
0 |
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Profit before
tax |
-1 |
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Less: profit tax |
0 |
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Profits |
-1 |
Note: The above financial reports have not been audited.
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
/ |
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*Quick ratio |
/ |
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*Liabilities
to assets |
0 |
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*Net profit
margin (%) |
-8.33 |
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*Return on
total assets (%) |
-0.21 |
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*Inventory
/Turnover ×365 |
0 |
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*Accounts
receivable/Turnover ×365 |
0 |
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*Turnover/Total
assets |
0.03 |
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* Cost of
goods sold/Turnover |
0 |
PROFITABILITY:
FAIR
l
The turnover of SC appears poor in its line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
LIQUIDITY: FAIR
l
There is no inventory of SC in 2011.
l
There is no accounts receivable of SC in 2011.
l
There is no short-term loan of SC in 2011.
l
SC’s turnover is in a poor level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fair.
SC is considered small-sized in its line with a short operating history
and fair financial conditions. According to SC’s accountant Mr. Hai, SC started its normal business in December of 2010 and has
a little business until now. Credit dealings with SC should be confined
into C.O.D. at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.55 |
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UK Pound |
1 |
Rs.81.95 |
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Euro |
1 |
Rs.67.57 |
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.