MIRA
INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI AILIAN INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Block B 18/F West Block Of Xin’an Building, No. 200 Zhenning Road, Jingan District, Shanghai, 200040 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.03.1995 |
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Com. Reg. No.: |
310115000256737 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Commodities |
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No. of Employees : |
15 |
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
|
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 and address
Shanghai Ailian International Trade Co., Ltd.
BLOCK B 18/F WEST
BLOCK OF XIN’AN BUILDING, NO. 200 ZHENNING ROAD,
JINGAN DISTRICT,
SHANGHAI, 200040 PR CHINA
TEL: 86 (0)
21-62470948 FAX: 86 (0) 21-63299038
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 13, 1995
REGISTRATION NO. : 310115000256737
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 5,500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 130,810,000 (UNAUDITED, AS
OF DEC. 31, 2011)
EQUITIES :
CNY 7,090,000 (UNAUDITED, AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 50,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.31 = 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 company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on March 13, 1995.
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 and technology (no
additionally attaching importing and
exporting commodity catalog), excluding the items prohibited by the state;
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter trade & transit trade; textile, general merchandise, building
materials, hardware, chemicals raw
materials (excluding hazardous chemicals), rubber products, metal materials,
automotive parts, industry investment, economic consultant, ticketing
agency (excluding air tickets).
SC is mainly
engaged in importing and exporting commodities.
Mr. Jin Zusen is legal representative and chairman of SC at
present.
SC is known to have approx. 15 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and head office in the commercial zone of Shanghai. Our checks
reveal that SC rents the total premise, but SC’s accountant refused to release
the gross area.
http://www.sh-nal.com
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: nal@sh-nal.com
Changes of its registered information are as follows:
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Date |
Item |
Before the
change |
After the change |
|
Unknown |
Registered number |
3101151016880 |
Present one |
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Shareholders |
Jin Zusen30.00% Lu Yanjun3.27% Pan Haifei1.64% Song Limin19.64% Shanghai Federation of Industry and
Commerce 45.45% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Song Limin 41
Jin Zusen 59
l
Legal representative and chairman:
Mr. Jin Zusen , born in 1951. He is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
SC is mainly
engaged in importing and exporting commodities.
Main Products: textile,
metal materials, hardware, etc.
SC sources its materials 60% from domestic
market, and 40% from overseas market. SC sells 100% of its products to overseas
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, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and
suppliers.
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 Communications Shanghai Branch
AC#310066661018004170737
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
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Cash & bank |
17,940 |
19,030 |
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Inventory |
0 |
0 |
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Accounts
receivable |
0 |
0 |
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Advances to
suppliers |
11,710 |
13,250 |
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Other
receivables |
2,000 |
2,000 |
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Other current
assets |
2,550 |
1,100 |
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------------------ |
------------------ |
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Current assets |
34,200 |
35,380 |
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Fixed assets net
value |
10 |
10 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
34,210 |
35,390 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
820 |
40 |
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Advances from
customers |
24,520 |
26,110 |
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Taxes payable |
50 |
40 |
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Other payable |
0 |
0 |
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Other current
liabilities |
0 |
2,110 |
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------------------ |
------------------ |
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Current liabilities |
25,390 |
28,300 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
25,390 |
28,300 |
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Equities |
8,820 |
7,090 |
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------------------ |
------------------ |
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Total
liabilities & equities |
34,210 |
35,390 |
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============= |
============= |
Income Statement
Unit: CNY’000
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as of Dec. 31,
2011 |
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Turnover |
130,810 |
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Cost of goods sold |
123,260 |
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Sales expense |
6,190 |
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Management expense |
830 |
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Finance expense |
-210 |
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Profit before
tax |
670 |
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Less: profit tax |
160 |
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Profits |
510 |
Note: SC’s financial statements for Year 2011 have not been audited.
Important Ratios
=============
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|
2010 |
2011 |
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*Current ratio |
1.35 |
1.25 |
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*Quick ratio |
1.35 |
1.25 |
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*Liabilities
to assets |
0.74 |
0.80 |
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*Net profit
margin (%) |
/ |
0.39 |
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*Return on
total assets (%) |
/ |
1.44 |
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*Inventory
/Turnover ×365 |
/ |
0 |
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*Accounts
receivable/Turnover ×365 |
/ |
0 |
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*Turnover/Total
assets |
/ |
3.70 |
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* Cost of
goods sold/Turnover |
/ |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in 2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is average in 2011.
l
SC’s cost of goods sold is fairly high in 2011,
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 both years.
l
SC has no accounts receivable in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fairly good level in 2011,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in 2011.
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. The given credit amount would appear to be beyond SC’s capacities,
while a credit line up to USD 50,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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 |
-- |
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.