MIRA INFORM REPORT
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Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
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Name : |
LINYI DARLLET INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Middle Section Of Xiuhuacheng Road, Luozhuang Street
Luozhuang District, Linyi, Shandong Province 276000 Pr |
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Country : |
China |
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Financials (as on) : |
31.11.2012 |
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Date of Incorporation : |
11.01.2010 |
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Com. Reg. No.: |
371311200002572 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Importing and
Exporting commodities and technology. |
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No. of Employees
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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 : |
Slow |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
sc’s INFO.:
================
LINYI DARLLET INTERNATIONAL TRADE CO., LTD.
MIDDLE SECTION OF XIUHUACHENG ROAD, LUOZHUANG STREET
LUOZHUANG DISTRICT, LINYI, SHANDONG PROVINCE 276000 PR CHINA
TEL: 86 (0) 539-8268840
FAX: 86 (0) 539-8268841
EXECUTIVE SUMMARY
Date of Registration : JANUARY 11, 2010
REGISTRATION NO. : 371311200002572
LEGAL FORM : one-person Limited liabilities company
CHIEF EXECUTIVE :
LIU
QINDA (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 1,000,000
staff :
5
BUSINESS CATEGORY : trading
Revenue :
CNY 304,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 849,000 (AS OF DEC. 31, 2011)
WEBSITE : www.darllet.com
E-MAIL :
cndarllet@gmail.com
& darllet@163.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : fair
GENERAL REPUTATION : fair
EXCHANGE RATE :
CNY 6.38 = USD
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 one-person limited liabilities company of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.:
371311200002572 on January 11, 2010.
SC’s Organization Code Certificate No.: 69967372-6
SC’s Tax No.: 371311699673726
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
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 |
|
Liu Qinda |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Liu Qinda |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Liu Qinda 100
MANAGEMENT
Liu Qinda, Legal
Representative, Chairman, and General Manager
--------------------------------------------------------------------------------------------------
Gender: M
ID# 372823197310234554
Age: 39
Working experience (s):
At present, working in SC as legal representative, chairman, and general
manager
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting
commodities and technology.
SC is mainly engaged in international trade.
SC’s products mainly include:
Film Faced Plywood
Ordinary Plywood
Fancy Plywood
Particle Board
Block Board
MDF
OSB
Wood H-Beam
Veneer
Flower trolley board
SC sources its merchandises 100% from domestic market, mainly Shandong.
SC sells 60% of its merchandises in domestic market and 40% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major Supplier
-------------------
Linyi Hongde Wood Co., Ltd.
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
Linyi Hongde Wood 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 supplier refused 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
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 |
|
903 |
768 |
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Notes receivable |
0 |
0 |
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Accounts receivable |
2 |
0 |
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Advances to suppliers |
0 |
57 |
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Other receivable |
0 |
116 |
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Inventory |
0 |
0 |
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Non-current assets within one year |
0 |
0 |
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Prepaid expenses |
0 |
0 |
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Other current assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
905 |
941 |
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Fixed assets |
0 |
0 |
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Construction in progress |
0 |
0 |
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Intangible 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 |
905 |
941 |
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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 |
21 |
0 |
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Wages payable |
0 |
18 |
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Taxes payable |
0 |
0 |
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Advances from clients |
0 |
74 |
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Other payable |
0 |
0 |
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Other current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current liabilities |
21 |
92 |
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Non-current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
21 |
92 |
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Equities |
884 |
849 |
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------------------ |
------------------ |
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Total liabilities & equities |
905 |
941 |
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============= |
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Income Statement
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
Revenue |
134 |
304 |
|
Cost of sales |
105 |
283 |
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Taxes and surcharges |
0 |
0 |
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Sales expense |
44 |
22 |
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Management expense |
8 |
8 |
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Finance expense |
0 |
2 |
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Non-business income |
0 |
0 |
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Non-business expenditure |
0 |
0 |
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Profit before tax |
-23 |
-11 |
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Less: profit tax |
0 |
0 |
|
-23 |
-11 |
Important Ratios
=============
|
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
43.10 |
10.23 |
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*Quick ratio |
43.10 |
10.23 |
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*Liabilities to assets |
0.02 |
0.10 |
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*Net profit margin (%) |
-17.16 |
-3.62 |
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*Return on total assets (%) |
-2.54 |
-1.17 |
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*Inventory / Revenue ×365 |
-- |
-- |
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*Accounts receivable/ Revenue ×365 |
6 days |
-- |
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* Revenue/Total assets |
0.15 |
0.32 |
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* Cost of sales / Revenue |
0.78 |
0.93 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears fair in its line in both years.
SC’s net profit margin is poor in 2010, fair in 2011.
SC’s return on total assets is fair in both years.
SC’s cost of sales is high, comparing with its revenue in 2011.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
SC has no inventory.
SC has no accounts receivable in 2011.
SC has no short-term loans.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is low.
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
A credit line up to USD 2,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.