MIRA INFORM REPORT
|
Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZTT INTERNATIONAL LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.11.2010 |
|
|
|
|
Com. Reg. No.: |
320691000060507 |
|
|
|
|
Legal Form : |
One-Person Limited Liabilities Company |
|
|
|
|
Line of Business : |
International
Trade |
|
|
|
|
No. of Employees
: |
175 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 500,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
ZTT INTERNATIONAL LTD.
no. 5 zhong tian
road, economic & technological development zone, jiangsu province 226009 PR
CHINA
TEL: 86 (0)
513-83599669/83599470
FAX: 86 (0)
513-83599670
EXECUTIVE SUMMARY
Date of Registration : november 11, 2010
REGISTRATION NO. : 320691000060507
LEGAL FORM : one-person Limited liabilities company
REGISTERED CAPITAL :
cny 100,000,000
staff : 175
BUSINESS CATEGORY :
trading
Revenue : CNY 271,256,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 105,938,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
500,000
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIRLY good
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
***Note: SC’s current address should be the heading
one, while the given address (No. 6 Zhongtian Road, Nantong Economic &
Technological Development Zone, Jiangsu Province) was its former one.
SC was
established as one-person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 320691000060507 on November 11, 2010.
SC’s Organization Code Certificate
No.: 56433850-9
SC’s registered capital: cny 100,000,000
SC’s paid-in capital: cny 100,000,000
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Jiangsu Zhongtian Technology
Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Xue Jiping |
|
Director |
Xue Chi |
|
Qu Zhi |
|
|
Tong Jiangbing |
|
|
Gao Hongshi |
|
|
Supervisor |
Gong Jun |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Jiangsu Zhongtian Technology
Co., Ltd. 100
------------------------------------------------
Date of Registration: February 9, 1996
Registration No.: 320000000013986
Legal Form: Shares Limited
Company
Registered Capital: CNY 391,391,000
Jiangsu Zhongtian Technology Co., Ltd. listed in
Shanghai Stock Exchange in October 2002 with the stock number of 600522.
Address: Economic & Technological
Development Zone, Jiangsu Province
Tel: 86 (0) 513-83599505
Fax: 86 (0) 513-83599504
MANAGEMENT
Xue Jiping, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 320623195103184530
Ø
Age: 61
Ø
Senior Economist
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Also
working in Jiangsu Zhongtian Technology Co., Ltd. as
legal representative
Director
-----------
Xue Chi ID#320623197901204531
Qu Zhi ID#210219197509214311
Tong Jiangbing ID#320622197411182791
Gao Hongshi ID#320624196504082018
Supervisor
--------------
Gong Jun ID#320623198202137012
BUSINESS
OPERATION
SC’s registered business scope includes importing and
exporting commodities and technology; domestic trade; developing and
manufacturing cable products and equipment; and storage.
SC is
mainly engaged in international trade.
SC’s
products mainly include: optical fiber, optical cable, submarine cable, etc.
SC sources its materials 100% from domestic
market, mainly Jiangsu. SC sells 70% of its products in domestic market, and 30%
to overseas market, mainly U.S.A., Southeast Asia, 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.
*Major Supplier:
==============
Jiangsu Zhongtian Technology
Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 175
staff at present.
SC rents an area
as its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
Zhongtian
Hitachi Fiber Optic Cable Co., Ltd.
Zhongtian
Technology Optical Fiber Co., Ltd.
Jiangsu
Zhongtian Technology Investment Management Co., Ltd.
Nantong
Zhongtian Jiangdong Property Co., Ltd.
Shanghai
Zhongtian Aluminum Wire Co., Ltd.
Technologies
Submarine Optic Fiber Cable Co., Ltd.
Zhongtian
Hitachi Radio Frequency Cable Co., Ltd.
Guangdong
Zhongtian Technology Optical Cable Co., Ltd.
Zhongtian
Technology (Shenyang) Optical Cable Co., Ltd.
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’s
suppliers declined to make any comments.
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 Communications
AC#: N/A
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
50,367 |
|
|
Accounts
receivable |
98,958 |
|
Advances to
suppliers |
0 |
|
Other receivable |
14,165 |
|
Inventory |
498 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
11,026 |
|
|
------------------ |
|
Current assets |
175,014 |
|
Fixed assets |
234 |
|
Long-term
prepaid expenses |
0 |
|
Deferred income tax
assets |
0 |
|
Other
non-current assets |
875 |
|
|
------------------ |
|
Total assets |
176,123 |
|
|
============= |
|
Short-term loans |
0 |
|
Notes payable |
0 |
|
Accounts payable |
24,418 |
|
Wages payable |
0 |
|
Taxes payable |
0 |
|
Advances from clients |
46,926 |
|
Other payable |
71 |
|
Other current
liabilities |
-1,230 |
|
|
------------------ |
|
Current
liabilities |
70,185 |
|
Non-current
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
70,185 |
|
Equities |
105,938 |
|
|
------------------ |
|
Total
liabilities & equities |
176,123 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
271,256 |
|
Cost of sales |
226,702 |
|
Sales expense |
32,043 |
|
Management expense |
240 |
|
Finance expense |
-148 |
|
Profit before
tax |
8,108 |
|
Less: profit tax |
2,170 |
|
5,938 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Current ratio |
2.49 |
|
*Quick ratio |
2.49 |
|
*Liabilities
to assets |
0.40 |
|
*Net profit
margin (%) |
2.19 |
|
*Return on
total assets (%) |
3.37 |
|
*Inventory /
Revenue ×365 |
1 day |
|
*Accounts
receivable/ Revenue ×365 |
134 days |
|
*
Revenue/Total assets |
1.54 |
|
* Cost of
sales / Revenue |
0.84 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears small.
l
The accounts receivable of SC appears 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 low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good
financial conditions. The large amount of accounts receivable may be a threat
to SC’s financial condition. But taking into consideration of SC’s good
background, general performance, reputation as well as market conditions, a
credit line up to USD 500,000 appears acceptable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.50 |
|
UK Pound |
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.