MIRA INFORM REPORT
|
Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI HUAXIA
INTERNATIONAL TRADING CO., LTD. |
|
|
|
|
Registered Office : |
Room 1705, Huaxia Bank Tower, No. 256 Pudong South Road, Shanghai, 200120 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.03.2004 |
|
|
|
|
Com. Reg. No.: |
310115000822822 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Selling rare metal products. |
|
|
|
|
No. of Employees
: |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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) |
|
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 AND ADDRESS
SHANGHAI HUAXIA INTERNATIONAL
TRADING CO., LTD.
ROOM 1705, HUAXIA BANK TOWER, NO. 256 PUDONG
SOUTH ROAD,
SHANGHAI, 200120 PR CHINA
TEL: 86 (0) 21-58770128/58770100 FAX: 86 (0) 21-58770148
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR.
17, 2004
REGISTRATION NO. : 310115000822822
REGISTERED LEGAL FORM : Limited liabilities
company
chief executive :
MS.
STAFF STRENGTH :
22
REGISTERED CAPITAL : CNY 6,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 141,660,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 1,250,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : Fairly
stable
OPERATIONAL TREND : Fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.37 = USD
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
SC was registered as a limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Mar. 17, 2004.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute
its registered capital jointly. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to extent
of its total assets. The characteristics of this form of co. are as
follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes import and export of various
goods and technology (excluding the goods and technology prohibited or limited
by the country); selling mechanical equipment and accessories, hardware,
chemical raw materials and products (except dangerous goods), communications
equipment and related products, stationery, handicrafts, leather products,
rubber products, metal materials, construction and decoration materials (with
permit if needed).
SC is mainly engaged in selling rare metal products
Ms.
SC is known to have approx. 22 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Shanghai. SC’s management
declined to release detailed information of the premise.
http://www.nonferrous-metal.com/
the website belongs to Huaxia Group. The design is professional and the content
is well organized. At present it is in Chinese and English versions.
E-mail: helen@nonferrous-metal.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Lin Wenkui 10
Legal
representative and chairman:
Ms.
Working Experience(s):
At present Working in SC as legal
representative and chairman
Supervisor:
………….
Lin Wenkui
SC is mainly engaged in selling rare metal products.
SC’s products mainly include: titanium and titanium alloy plates, tubes,
rods, wire, stainless steel pipes and plates, bar and plate, nickel and nickel
alloy products, etc.
SC sources its merchandise 1% from overseas market, and 99% from
domestic market. SC sells 5% of its products in domestic market and 95% 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 Check, T/T, L/C and Credit of 30-60 days.
Major supplier:
………………..
Shanghai Huaxia Industry Co., Ltd.
Note: SC’s
management declined to release its major clients.
Shanghai Huaxia Industry Co., Ltd.
It is jointly occupying the heading premise with SC.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet 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.
Huaxia Bank
AC#：N/A
Bank of China Shanghai
Branch
AC#：N/A
Relationship: Normal.
Financial Summary
Unit: CNY’000
|
|
as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
|
Current assets |
11,250 |
15,950 |
|
Current liabilities |
10,100 |
14,720 |
|
|
|
|
|
Total Liabilities |
10,100 |
14,720 |
|
Shareholders equities |
1,160 |
1,250 |
|
Total Assets |
11,260 |
15,970 |
|
|
|
|
|
Turnover |
/ |
141,660 |
|
Profit before tax |
/ |
690 |
|
Less: profit tax |
/ |
180 |
|
Net profit |
/ |
510 |
Note: SC's accountant
refused to release SC’s detailed financial reports for Yr 2010&2011.
Important Ratios
=============
|
|
as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
|
*Current ratio |
1.11 |
1.08 |
|
*Liabilities to assets |
0.90 |
0.92 |
|
*Net profit margin (%) |
/ |
0.36 |
|
*Return on total assets (%) |
/ |
3.19 |
|
*Turnover/Total assets |
/ |
8.87 |
PROFITABILITY:
AVERAGE
The turnover of SC appears fairly good in its line in 2011.
SC’s net profit margin is average in 2011.
SC’s return on total assets is average in 2011.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level in both years.
SC’s turnover is in a good level in 2011, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high in both years.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.47 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.