MIRA INFORM REPORT
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Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
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Name : |
Beijing
Huiding Leather Company Ltd. |
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Registered Office : |
no. 3, Songjia Zhuangshun Batiao, Fengtai District,
Beijing 100078 PR |
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Country : |
CHINA |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.07.1964 |
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Com. Reg. No.: |
110106002815810 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Leather Products |
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No. of Employees : |
48 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit |
USD 150,000 |
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Status : |
Satisfactory |
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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 |
|
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
Beijing
Huiding Leather Company Ltd.
no. 3,
songjia zhuangshun batiao, fengtai district
beijing
100078 PR CHINA
TEL: 86
(0) 10-67624144/67622181
FAX: 86 (0)
10-67624144
EXECUTIVE SUMMARY
Date of Registration : JULY 1, 1964
REGISTRATION NO. : 110106002815810
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 10,012,000
staff : 48
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 15,687,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 16,011,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit : UP TO USD 150,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.38 = 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
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 110106002815810.
SC’s Organization Code Certificate
No.: 10216538-3
SC’s registered capital: cny 10,012,000
SC’s paid-in capital: cny 10,012,000
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 |
|
Beijing Longda Light Industry
Holding Co., Ltd. |
80 |
|
Beijing Handicraft Industry
Production Cooperatives |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Li
Gang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Beijing Longda Light Industry
Holding Co., Ltd. 80
Beijing Handicraft Industry
Production Cooperatives 20
Beijing Longda Light Industry Holding
Co., Ltd.
=======================================
Date of Registration: December 5, 1997
Registration No.: 110000005200027
Legal Form: Sole State-Owned
Enterprise
Registered Capital: CNY 635,319,000
Address: No. 5 Binhe Road, Deshengmen,
Xicheng District, Beijing
Tel: 86 (0) 10-82259651
Fax: 86 (0) 10-82259415
Web: www.elongda.com
MANAGEMENT
Li
Gang, Legal
Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Liu Yongping, Sales
Manager
--------------------------------------------------
Ø
Gender: M
Ø
Mobile: 86 (0) 13501313132
BUSINESS OPERATION
SC’s registered business scope includes manufacturing
leather, leather clothing, heavy leather, fur products and other leather
products; fur tanning; processing metal parts; labor services; goods import and
export.
SC is
mainly engaged in manufacturing and selling leather products.
SC’s
products mainly include: fur & leather and products, Grain-sided oxhide,
Cattle shaved leather, leather of costume, sofa leather, suitcases & bags
leather, leather for making gloves, Napa leather, Ostrich skin, inguishing
feature animal hide, Kip, Knurled leather.
SC sources its materials 30% from domestic market, 70% from overseas market. SC sells 80% of its products in domestic market, and 20% 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 T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 48
staff at present.
SC
rents an area as its operating office and factory, but the detailed information
is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
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
Basic Bank:
Industrial
and Commercial Bank of China
AC#:
0200000409200006881
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
Long term investment |
6,540 |
|
Total assets |
53,077 |
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|
------------- |
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Long term liabilities |
26,218 |
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Total
liabilities |
37,066 |
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Equities |
16,011 |
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|
------------- |
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Revenue |
15,687 |
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Profit before
tax |
88 |
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Less: profit tax |
24 |
|
Profits |
64 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Liabilities
to assets |
0.70 |
|
*Net profit
margin (%) |
0.41 |
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*Return on
total assets (%) |
0.12 |
|
*
Revenue/Total assets |
0.30 |
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 average.
LIQUIDITY:
FAIR
l
SC’s revenue is in a
fair 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 low.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
Credit Opinion: USD 150,000
SC is considered small-sized in its line with
fairly stable financial conditions. The given credit line (up to USD 150,000) would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.08 |
|
UK Pound |
1 |
Rs.87.02 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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 |
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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 |
|
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 |
|
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.