MIRA
INFORM REPORT
|
Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUZHOU GUOXIN GROUP FENGYUAN IMP & EXP
CO., LTD. |
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Registered Office : |
Room 322, No. 118 Changsheng South Road, Taicang, Jiangsu Province, 215400 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.09.1999 |
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Com. Reg. No.: |
320585000004007 |
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Legal Form : |
Limited
Liabilities Co. |
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Line of Business : |
Selling Chemical Products |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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 |
|
Insignificant |
A1 |
|
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
SUZHOU GUOXIN
GROUP FENGYUAN IMP & EXP CO., LTD.
ROOM 322, NO. 118 CHANGSHENG SOUTH ROAD,
TAICANG,
JIANGSU PROVINCE, 215400 PR CHINA
TEL: 86 (0) 512-53567862 FAX: 86 (0) 512-53571061
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP.
9, 1999
REGISTRATION NO. : 320585000004007
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
STAFF STRENGTH : 20
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
WHOLESALE
TURNOVER :
CNY 435,000,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 25,531,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = USD 1
Adopted
abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: SC’s employee does not know
the given phone number and address. SC’s correct contact information and address
should be the heading one.
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 Sep. 9, 1999.
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 self-operation and agency of import & export of commodities and technology (excluding the commodities and technology limited or forbidden by the state); sale of fabrics, clothing, art &craft, electrical and machinery equipments, minerals, animal products, vegetables and fruits, hardware, bearings, chemicals (excluding hazardous commodities), glycol and pesticides (4% nicosulfuron OD, 75% nicosulfuron WG, 20% metsulfuron WG, 60% metsulfuron WG, 75% thifensulfuron WG, 75% thi-metsulfuron WG, 75% methyl WG, 20% metsulfuron SG, 10% pyrazosulfuron WP); consultation of imp & exp business; recycle waste paper (without the storage yards).
SC is mainly engaged in selling
chemical products.
Mr. Huang Feng is legal representative
and chairman of SC at present.
SC is known to have approx. 20
employees at present.
SC is currently operating at the
above stated address, and this address houses its operating office in Taicang.
Our checks reveal that SC rents the total premise about 150 square meters.
SC is not known to host website of its own at present.
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2002-01 |
Registered capital |
CNY 1,000,000 |
CNY 5,000,000 |
|
Shareholders and shareholdings |
Taicang Foreign Trade
Corporation 22% Taicang Foreign Trade
Corporation Labor Union 10% Taicang Plastic Additives
Factory 12% Huang Feng 21.5% Gu Yongqin 9.5% Lu Jingen 6% Wang Qianqian 6% Yang Jianping 5% Zhou Ruting 5% Zhou Jianqing 3% |
Taicang Foreign Trade
Corporation 22% Taicang Foreign Trade
Corporation Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Lu Jingen 6% Wang Qianqian 5% Yang Jianping 8% Zhou Ruting 9.6% Zhou Jianqing 2% Zou Renxing 1% Lu Zhibing 1.5% Xiao Chunchun 1% Shen Xuehong 4% Yang Yanqiu 1% Ji Qiang 2% Zhou Yongli 1% |
|
|
2002-08 |
Shareholder’s name |
Taicang Foreign Trade
Corporation |
Suzhou Guoxin Group Co., Ltd. |
|
2002-12 |
Registered name |
Taicang Foreign Trade Fengyuan Co., Ltd. |
Present one |
|
2008-03 |
Shareholders and shareholdings |
Suzhou Guoxin Group Co., Ltd. 22% Taicang Foreign Trade Corporation Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Lu Jingen 6% Wang Qianqian 5% Yang Jianping 8% Zhou Ruting 9.6% Zhou Jianqing 2% Zou Renxing 1% Lu Zhibing 1.5% Xiao Chunchun 1% Shen Xuehong 4% Yang Yanqiu 1% Ji Qiang 2% Zhou Yongli 1% |
Suzhou Guoxin Group Co., Ltd. 27% Taicang Foreign Trade
Corporation Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 8% Zhou Ruting 9.6% Zhou Jianqing 2% Zou Renxing 1% Lu Zhibing 3% Chen Kefeng 1% Shen Xuehong 1.5% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% |
|
Unknown |
Shareholder’s name |
Taicang Foreign Trade Corporation Labor Union |
Suzhou Guoxin Group Co., Ltd. Labor Union |
|
2010-06 |
Shareholders and shareholdings |
Suzhou Guoxin Group Co., Ltd. 27% Suzhou Guoxin Group Co., Ltd. Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 8% Zhou Ruting 9.6% Zhou Jianqing 2% Zou Renxing 1% Lu Zhibing 3% Chen Kefeng 1% Shen Xuehong 1.5% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% |
Suzhou Guoxin Group Co., Ltd. 27% Suzhou Guoxin Group Co., Ltd. Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 5% Zhou Ruting 9.6% Zhou% Zou Renxing 1% Lu Zhibing 3% Chen Kefeng 1% Shen Xuehong 1.5% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% Wu Jiangang 1% Zhou Youfeng 1% Xu Zhifeng 1% |
|
2010-07 |
Registered capital |
CNY 5,000,000 |
Present amount |
|
Shareholders and shareholdings |
Suzhou Guoxin Group Co., Ltd. 27% Suzhou Guoxin Group Co., Ltd. Labor Union 6.9% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 5% Zhou Ruting 9.6% Zhou Jianqing 2% Zou Renxing 1% Lu Zhibing
3% Chen Kefeng 1% Shen Xuehong 1.5% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% Wu Jiangang 1% Zhou Youfeng 1% Xu Zhifeng 1% |
Suzhou Guoxin Group Co., Ltd. 40.75% Suzhou Guoxin Group Co., Ltd. Labor Union 2.5% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 3% Zhou Ruting 6% Zou Renxing 1% Lu Zhibing
3% Chen Kefeng 1% Shen Xuehong 0.75% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% Zhou Youfeng 1% Xu Zhifeng 1% |
|
|
2011-05 |
Shareholders and shareholdings |
Suzhou Guoxin Group Co., Ltd. 40.75% Suzhou Guoxin Group Co., Ltd. Labor Union 2.5% Huang Feng 18.5% Gu Yongqin 10.5% Wang Qianqian 5% Yang Jianping 3% Zhou Ruting 6% Zou Renxing 1% Lu Zhibing 3% Chen Kefeng 1% Shen Xuehong 0.75% Yang Yanqiu 2% Ji Qiang 2% Zhou Yongli 2% Zhou Youfeng 1% Xu Zhifeng 1% |
Present ones |
|
Unknown |
Registered no. |
3205851103426 |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Suzhou Guoxin Trading Group Co.,
Ltd. 40.75
Suzhou Guoxin Group Co., Ltd.
Labor Union 2.5
Huang Feng 18.5
Gu Yongqin 10.5
Wang Qianqian 5
Yang Jianping 3
Zhou Ruting 6
Lu Zhibing 3
Shen Xuehong 0.75
Ji Qiang
2
Zhou Yongli 2
Zou Renxing 1
Yang Yanqiu 2
Chen Kefeng 1
Zhou Youfeng
1
Xu Zhifeng
1
Legal
representative and Chairman:
Mr. Huang Feng, ID#: 320522640118391, born in 1964, with university education. He is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as chairman and legal representative.
General Manager:
Mr. Gu Yongqin, ID#: 310104671023405, born in 1967, with university education. He is currently responsible for the dailymanagement of SC.
Working
Experience(s):
At present Working in SC as general manager
Directors:
Ms. Cui Hong , ID#: 320522196405070021
Mr. Shi Jianming , ID#: 320522580717391
Mr. Zhou Ruting , ID#: 310105500624249
Mr. Gu Yongqin , ID#: 310104671023405
Supervisors:
Ms. Wu Yingkang, ID#: 320522520430002
Ms. Wang Qianqian ID#: 320522730126392
Mr. Yang Jianping , ID#: 310104650314401
Mr. Lu Zhibing , ID#: 320522197611300531
Mr. Wu Jiangang , ID#: 320522196912130017
SC is mainly engaged in selling chemical products.
SC’s products mainly include: basic chemicals and
pesticides
SC sources its merchandises 20% from the overseas market and
80% from domestic market. SC sells 20% of its merchandises in domestic market, and
80% to overseas market.
The buying terms of SC include Check, L/C, 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.
Note:
SC refused to release its major suppliers and customers.
SC
is not known to have any subsidiary at present.
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 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.
SC’s bank
information was not found in local AIC.
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31, 2009 |
as of Dec. 31, 2010 |
|
Cash & bank |
376,294 |
/ |
|
Notes receivable |
50 |
/ |
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Inventory |
527 |
/ |
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Accounts
receivable |
45,302 |
/ |
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Advances to
supplies |
19,869 |
/ |
|
Allowance
receivable |
0 |
/ |
|
Other
receivables |
7,526 |
/ |
|
Other current
assets |
0 |
/ |
|
|
------------------ |
------------------ |
|
Current assets |
449,568 |
/ |
|
Financial
assets available for sale |
780 |
/ |
|
Long-term
investments |
16,722 |
/ |
|
Fixed assets |
431 |
/ |
|
Projects under
construction |
0 |
/ |
|
Deferred assets |
57 |
/ |
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Other assets |
0 |
/ |
|
|
------------------ |
------------------ |
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Total assets |
467,558 |
580,019 |
|
|
============= |
============= |
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Short loans |
325,323 |
/ |
|
Notes payable |
0 |
/ |
|
Accounts payable |
51,440 |
/ |
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Advances from
customers |
65,691 |
/ |
|
Salaries
and welfare payable |
595 |
/ |
|
Taxes payable |
728 |
/ |
|
Withholding expenses |
0 |
/ |
|
Dividends
payable |
2 |
/ |
|
Other accounts
payable |
6,101 |
/ |
|
Other
current liabilities |
0 |
/ |
|
|
----------------- |
----------------- |
|
Current
liabilities |
449,880 |
/ |
|
Long term
liabilities |
0 |
/ |
|
Other
liabilities |
0 |
/ |
|
|
------------------ |
------------------ |
|
Total
liabilities |
449,880 |
554,488 |
|
Shareholders
equities |
17,678 |
25,531 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
467,558 |
580,019 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31, 2009 |
as of Dec. 31, 2010 |
|
Turnover |
238,470 |
435,000 |
|
Cost of goods
sold |
228,246 |
/ |
|
Taxes and additional of main
operation |
15 |
/ |
|
Income
from other operation |
0 |
/ |
|
Sales expense |
6,271 |
/ |
|
Management expense |
1,336 |
/ |
|
Finance expense |
-2,504 |
/ |
|
Asset
impairment losses |
-73 |
/ |
|
Investment
income |
98 |
/ |
|
Subsidize
income |
0 |
/ |
|
Non-operating
income |
100 |
/ |
|
Non-operating expense |
17 |
/ |
|
Profit before
tax |
5,360 |
10,416 |
|
Less: profit tax |
1,284 |
2,573 |
|
Net profit |
4,076 |
7,843 |
Note: We did not
find SC’s detailed financial reports of Yr2010 from local AIC.
Important
Ratios
=============
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
*Current ratio |
1.00 |
/ |
|
*Quick ratio |
1.00 |
/ |
|
*Liabilities
to assets |
0.96 |
0.96 |
|
*Net profit
margin (%) |
1.71 |
1.80 |
|
*Return on
total assets (%) |
0.87 |
1.35 |
|
*Inventory
/Turnover ×365 |
1day |
/ |
|
*Accounts
receivable/Turnover ×365 |
69days |
/ |
|
*Turnover/Total
assets |
0.51 |
0.75 |
|
* Cost of
goods sold/Turnover |
0.96 |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good, and it was
rising in 2010.
l
SC’s net profit margin is average in both 2 years.
l
SC’s return on total assets is average in both 2
years.
l
SC’s cost of goods sold is fairly high in 2009,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fair
level in 2009.
l
SC’s quick ratio is maintained in a normal level in
2009.
l
The inventory of SC appears small in 2009.
l
The accounts receivable of SC appears average in
2009.
l
SC’s short-term loan appears large in 2009.
l
SC’s turnover is in a fair level in both 2 years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.50 |
|
UK Pound |
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.