MIRA
INFORM REPORT
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Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU TINGJIA FOODSTUFF CO., LTD. |
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Registered Office : |
3/F, Building B, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.05.2009 |
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Com. Reg. No.: |
440105000052815 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling and retailing pre-packaged food and machinery; importing and exporting commodities and technology |
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No. of Employees : |
5 |
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 : |
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) |
|
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
GUANGZHOU TINGJIA FOODSTUFF CO., LTD.
3/F, BUILDING B, NO. 109 HUAZHOU ROAD, TUHUA, HAIZHU DISTRICT
GUANGZHOU, GUANGDONG PROVINCE 510000 PR CHINA
TEL: 86 (0) 20-62377107
FAX: 86 (0) 20-62377108
EXECUTIVE SUMMARY
Date of Registration : may 15, 2009
REGISTRATION NO. : 440105000052815
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 500,000
staff :
5
BUSINESS CATEGORY : trading
Revenue :
CNY 81,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 362,000 (AS OF DEC. 31, 2011)
WEBSITE : www.tingjiahk.com
E-MAIL :
tingjiahk@163.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : POOR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
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 name should be the heading one, while
Ting Jia (Hk) International Co., Limited (the given address) is SC’s related
company registered in Hong Kong, and SC also uses this name as its trade name.
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 440105000052815 on May 15, 2009.
SC’s Organization Code Certificate No.:
68931249-2
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
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 |
|
Li Qiuju |
95 |
|
Xiang Taiyan |
5 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Xiang Taiyan |
|
Supervisor |
Li Qiuju |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Li Qiuju 95
Xiang Taiyan 5
MANAGEMENT
Xiang Taiyan ,
Legal Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
ID# 512227197606090982
Ø
Age: 36
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Li
Qiuju , Supervisor
------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes wholesaling and
retailing pre-packaged food and machinery; importing and exporting commodities
and technology.
SC is mainly
engaged in selling foods.
SC’s products
mainly include: coffee, cocoa, etc.
SC sources its materials 100% from domestic
market, mainly Guangzhou. SC sells 70% of its products in domestic market, and
30% to overseas market, mainly 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.
Staff & Office:
--------------------------
SC is known
to have approx. 5 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Ting Jia (HK) International
Co., Limited
---------------------------------------------------------
Registration
No.: 1220122
Date
of Registration: March 26, 2008
Legal
Form: Private
Status:
Live
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 local SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
15 |
18 |
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Accounts
receivable |
0 |
14 |
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Advances to
suppliers |
0 |
0 |
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Other receivable |
410 |
387 |
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Inventory |
0 |
55 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
0 |
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|
------------------ |
------------------ |
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Current assets |
425 |
474 |
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Fixed assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
425 |
474 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
92 |
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Wages payable |
0 |
0 |
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Taxes payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
0 |
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Other current
liabilities |
0 |
20 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
112 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
112 |
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Equities |
425 |
362 |
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------------------ |
------------------ |
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Total
liabilities & equities |
425 |
474 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
|
Revenue |
10 |
81 |
|
Cost of sales |
0 |
69 |
|
Sales expense |
0 |
0 |
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Management expense |
54 |
73 |
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Finance expense |
0 |
0 |
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Profit before
tax |
-45 |
-61 |
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Less: profit tax |
0 |
2 |
|
-45 |
-63 |
Important Ratios
=============
|
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
-- |
4.23 |
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*Quick ratio |
-- |
3.74 |
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*Liabilities
to assets |
-- |
0.24 |
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*Net profit
margin (%) |
-450.00 |
-77.78 |
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*Return on
total assets (%) |
-450.00 |
-13.29 |
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*Inventory /
Revenue ×365 |
-- |
248 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
64 days |
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*
Revenue/Total assets |
0.02 |
0.17 |
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* Cost of
sales / Revenue |
-- |
0.85 |
FINANCIAL COMMENTS
PROFITABILITY:
POOR
l
The revenue of SC appears poor in its line in both years.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
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 in 2011.
l
SC’s quick ratio is maintained in a normal level in
2011.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears average.
l
SC has no short-term loans in both years.
l
SC’s revenue is in a poor level, comparing with the
size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is low in 2011.
l
The risk for SC to go bankrupt is fairly high.
Overall financial
condition of the SC: Poor.
CONCLUSIONS
SC is considered small-sized in its line with poor financial conditions.
Great caution is required in providing credit to SC & C.O.D. is
recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.89 |
|
|
1 |
Rs.83.18 |
|
Euro |
1 |
Rs.68.06 |
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.