MIRA INFORM REPORT
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Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI COLLABORATION IMP & EXP CO., LTD. |
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Registered Office : |
Room 507, Huawen Plaza, No. 999 Zhongshan West Road Shanghai 200051 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.03.2004 |
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Com. Reg. No.: |
310115000819976 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and
Exporting various kinds of commodities and technology. |
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No. of Employees
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23 |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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.:
================
SHANGHAI COLLABORATION IMP & EXP CO., LTD.
ROOM 507, HUAWEN PLAZA, NO. 999 ZHONGSHAN WEST ROAD
SHANGHAI 200051 PR CHINA
TEL: 86 (0) 21-32515866
FAX: 86 (0) 21-62808766
EXECUTIVE SUMMARY
Date of Registration : march 4, 2004
REGISTRATION NO. : 310115000819976
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
yao chengyi (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 1,000,000
staff :
23
BUSINESS CATEGORY : trading
Revenue :
CNY 24,050,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 5,120,000 (AS OF DEC. 31, 2011)
WEBSITE : www.sha-col.com.cn
E-MAIL :
col-customer@sha-col.com.cn
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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 a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310115000819976 on
March 4, 2004.
SC’s Organization Code Certificate No.:
75958171-X
SC’s Tax No.: 31011575958171X
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 |
|
Yao Chengyi |
90 |
|
Wang Donglin |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Yao Chengyi |
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Supervisor |
Wang Donglin |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Yao Chengyi 90
Wang Donglin 10
MANAGEMENT
Yao Chengyi, Legal Representative, Chairman and General
Manager
-----------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
From 2004 to present, working in SC as legal representative, chairman
and general manager
Wang Donglin,
Supervisor
----------------------------------------------
Gender: M
BUSINESS OPERATION
SC’s registered business scope includes operating and
acting as an agent of importing and exporting various kinds of commodities and
technology, excluding the goods forbidden by the government, selling cosmetics,
metal materials, hardware, mechanical and electrical equipment, communications
equipment and related products, construction and decoration materials, auto
parts, plastic products, rubber products, chemical raw materials and products,
office supplies, computer accessories, mineral products, textile needles;
product development of electronic technology, business services, exhibition
services, business consulting, warehousing.
SC is mainly engaged in international trade.
SC’s products mainly include: medical supplies, iron and steel
metallurgy, machinery, printing products, clothing, etc.
SC sources its materials 90% from domestic market, mainly Shanghai, 10% from overseas market. SC sells 10% of its products in domestic market, and 90% to overseas market, mainly USA, Southeast Asia, etc.
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.
*Major Customers:
==============
9I.V.Y.INC.
Vegefarm International Corp.
Staff &
Office:
--------------------------
SC is known to have approx. 23
staff at present.
SC rents an area as its operating office of approx. 200 sq. meters at
the heading address.
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:
China Construction Bank Shanghai Jing’an Sub-branch
AC#: 31001508300050018020
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
12,790 |
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Notes receivable |
0 |
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Accounts receivable |
39,780 |
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Advances to suppliers |
0 |
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Other receivable |
740 |
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Inventory |
0 |
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Non-current assets within one year |
0 |
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Other current assets |
5,270 |
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------------------ |
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Current assets |
58,580 |
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Fixed assets |
490 |
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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 |
0 |
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------------------ |
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Total assets |
59,070 |
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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 |
45,940 |
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Advances from clients |
0 |
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Other payable |
3,690 |
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Other current liabilities |
4,300 |
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------------------ |
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Current liabilities |
53,930 |
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Non-current liabilities |
20 |
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------------------ |
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Total liabilities |
53,950 |
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Equities |
5,120 |
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------------------ |
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Total liabilities & equities |
59,070 |
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Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
Revenue |
24,050 |
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Cost of sales |
19,430 |
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Sales expense |
1,070 |
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Management expense |
2,820 |
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Finance expense |
-60 |
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Profit before tax |
630 |
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Less: profit tax |
150 |
|
480 |
Important Ratios
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As
of Dec. 31, 2011 |
|
*Current ratio |
1.09 |
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*Quick ratio |
1.09 |
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*Liabilities to assets |
0.91 |
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*Net profit margin (%) |
2.00 |
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*Return on total assets (%) |
0.81 |
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*Inventory / Revenue ×365 |
-- |
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*Accounts receivable/ Revenue ×365 |
604 days |
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* Revenue/Total assets |
0.41 |
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* Cost of sales / Revenue |
0.81 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a fairly good level.
SC has no inventory in 2011.
The accounts receivable of SC appears large.
SC has no short-term loans in 2011.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is high.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. The large amount of accounts receivable may be a threat to SC’s
financial condition. A credit line at the above amount appears beyond SC’s
capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.08 |
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|
1 |
Rs.87.03 |
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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.