MIRA INFORM REPORT
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Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LIANDU FASTENER CO., LTD. |
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Registered Office : |
Panjing, Dongshi, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.06.2002 |
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Com. Reg. No.: |
350582100048484 |
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Legal Form : |
Private Partnership Enterprises |
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Line of Business : |
manufacturing and selling
fasteners |
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No. of Employees
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95 |
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 20,000 |
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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 & address
liandu fastener co., ltd.
panjing, dongshi,
jinjiang city, fujian PROVINCE 362271 PR CHINA
TEL: 86 (0)
595-85586909
FAX: 86 (0)
595-85586909
EXECUTIVE SUMMARY
Date of Registration : june 17, 2002
REGISTRATION NO. : 350582100048484
LEGAL FORM : private Partnership Enterprises
REGISTERED CAPITAL :
n/a
staff : 95
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 20,560,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 4,440,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
20,000 (PERIODICAL REVIEW)
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = 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
***Note: According to the given registration number
(350582100048484), we locate SC.
SC was
established as a private partnership enterprise of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 350582100048484 on June 17, 2002.
SC’s Organization Code Certificate
No.: 15430991-6
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s partners are as follows:-
|
Name of Partners |
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Zhang Ganning
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Zhang Sichuan |
|
Zhang Ningbo |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
General Manager |
Zhang Ganning |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
PARTNERS
Zhang Ganning
Zhang Sichuan
Zhang Ningbo
***Note:
Operating Capital: CNY 700,000
MANAGEMENT
Zhang Ganning, Legal
Representative and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative and
general manager
BUSINESS OPERATION
SC’s registered business scope includes manufacturing
hardware components.
SC is
mainly engaged in manufacturing and selling fasteners.
SC’s products mainly include: fasteners.
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 60% of its products
in domestic market, and 40% to overseas market, mainly India, 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. 95
staff at present.
SC
rents an area as its operating office and factory, but the detailed information
is unknown.
RELATED COMPANY
Haiyan Office
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Contact
Person: Lanyee Zhang
E-mail: lanyeezhang@gmail.com
Address:
North 76#, Line 1, CIFC Haiyan, Jiaxing
City, Zhejiang Province, China
Tel:
0086-573-86059288/18906839983
Fax:
0086-573-86059388
Bank:
Agricultural Bank of China (A/C No.: 6228480342490084916)
***Note: We could not open the given website (http://www.qz.fjaic.gov.cn/qzgs/ACorpInfo.shtml).
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
The bank information
of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
1,760 |
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Accounts
receivable |
2,660 |
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Other receivable |
3,530 |
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Inventory |
3,310 |
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Non-current
assets within one year |
0 |
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Other current
assets |
660 |
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------------------ |
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Current assets |
11,920 |
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Fixed assets |
938 |
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Construction in
progress |
0 |
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Intangible
assets |
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 |
22 |
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Total assets |
12,880 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
238 |
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Advances from
clients |
0 |
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Other payable |
7,910 |
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Other current
liabilities |
292 |
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------------------ |
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Current
liabilities |
8,440 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
8,440 |
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Equities |
4,440 |
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------------------ |
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Total
liabilities & equities |
12,880 |
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============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
20,560 |
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Cost of sales |
18,500 |
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Sales expense |
280 |
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Management expense |
930 |
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Finance expense |
-1 |
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Profit before
tax |
770 |
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Less: profit tax |
0 |
|
770 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.41 |
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*Quick ratio |
1.02 |
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*Liabilities
to assets |
0.66 |
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*Net profit
margin (%) |
3.75 |
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*Return on
total assets (%) |
5.98 |
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*Inventory /
Revenue ×365 |
59 days |
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*Accounts
receivable/ Revenue ×365 |
48 days |
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*
Revenue/Total assets |
1.60 |
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* Cost of
sales / Revenue |
0.90 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average 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 average, 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 appears fairly large.
l
The accounts receivable of SC appears fairly large.
l
SC has no short-term loans in 2011.
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 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 20,000 is
recommended upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.50 |
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UK Pound |
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
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.