MIRA
INFORM REPORT
|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI SHENDA INDUSTRIAL DEVELOPMENT CO.,
LTD |
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Registered Office : |
Room A521, A522, A523, No. 288 Yuyao Road,
Shanghai 200042 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.07.2002 |
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Com. Reg. No.: |
310115000690471 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
International
Trade |
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No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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
shanghai shenda industrial development co., ltd.
room A521, A522, A523,
no. 288 yuyao road, shanghai 200042 PR CHINA
TEL: 86 (0)
21-62325037/62325053 FAX: 86 (0)
21-62325039
EXECUTIVE SUMMARY
INCORPORATION DATE : july 15, 2002
REGISTRATION NO. : 310115000690471
REGISTERED LEGAL FORM : One-person Limited Liability
Company
STAFF STRENGTH :
40
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
trading
TURNOVER :
n/a (AS OF DEC. 31, 2011)
EQUITIES :
CNY 42,897,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.36= 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
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on July 15, 2002 and has been under present
ownership since 2009.
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered
business scope includes import and export of goods and technology; industry
investment; investment management; enterprise merger and acquisition; capital
operation; selling chemical raw materials and products, textile raw materials,
textile accessories, textiles, general merchandise, plastic products, metal
materials and products, hardware, building decoration materials, auto parts,
instruments and meters, electronic products, electrical and mechanical
equipment; consulting service.
SC is mainly
engaged in international trade.
Ms. Wang Qiurong
has been the legal representative and chairman of SC since 2002.
SC is known to
have approx. 40 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. Our checks reveal that SC rents the total premise, but SC’s
employee refused to release the gross area of the premise.
SC is not known to host web site of its own at present.
Changes of its
registered information are as follows:
|
Date
of change |
Item |
Before
the change |
After
the change |
|
2009 |
Registered
Legal Form |
Limited
Liabilities Company |
One-Person Limited Liability Company |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Shenda Co., Ltd. 100
Legal representative: Xi Shiping
Incorporation date: Dec. 11,
1986
Registered capital: CNY
710,242,816
SC is a listed company in Shanghai
Stock Exchange Market with the code 600626.
Address: No. 448 Wuning Rd (s) Shenda
Mansion, Shanghai, 200042 P. R. China
Web: http://www.cnshenda.com.cn
E-mail: trade@shenda.com.cn
Tel: 021-62328282
Fax: 021-62317250
Legal
Representative, Chairman and General Manager:
Ms. Wang Qiurong, born in 1954 with university education. She is
currently responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working
in SC as legal representative, chairman and general manager;
Also working in
Shanghai Shenda Imp. & Exp. Co., Ltd. as legal representative
SC is mainly engaged
in international trade.
SC’s products
mainly include: chemical products, textiles, hardware and tools, etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 20% of its products in domestic
market, and 80% to overseas market, mainly U.S.A., Europe and Southeast Asian
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.
Note:
SC’s management declined to release its major clients and suppliers.
Shanghai Shenda Imp. & Exp. Co., Ltd.
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 records 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.
Bank of Shanghai
AC#：N/A
Relationship:
Normal
Balance Sheet
|
Unit: CNY’000 |
as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
|
Cash & bank |
24,100 |
66,570 |
|
Inventory |
15,170 |
11,320 |
|
Accounts
receivable |
63,980 |
24,340 |
|
Other Accounts
receivable |
20,870 |
14,300 |
|
Advances to
suppliers |
2,250 |
32,120 |
|
Notes receivable |
440 |
1,740 |
|
Other current
assets |
10 |
90 |
|
|
------------------ |
------------------ |
|
Current assets |
126,820 |
150,480 |
|
Fixed assets net
value |
470 |
370 |
|
Projects under
construction |
0 |
0 |
|
Long term
investment |
0 |
0 |
|
Other assets |
1,540 |
1,060 |
|
|
------------------ |
------------------ |
|
Total assets |
128,830 |
151,910 |
|
|
============= |
============= |
|
Short loans |
0 |
6,260 |
|
Accounts payable |
26,000 |
30,530 |
|
Other Accounts
payable |
4,760 |
2,430 |
|
Advances from
clients |
69,880 |
79,020 |
|
Salaries and
welfare payable |
40 |
10 |
|
Taxes payable |
-2,400 |
-420 |
|
Other current
liabilities |
10 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
98,290 |
117,830 |
|
Long term liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
98,290 |
117,830 |
|
Equities |
30,540 |
34,080 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
128,830 |
151,910 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
|
Turnover |
695,290 |
593,550 |
|
Cost of goods
sold |
671,830 |
572,110 |
|
Sales expense |
16,610 |
15,430 |
|
Management expense |
5,910 |
2,880 |
|
Finance expense |
-1,230 |
1,420 |
|
Investment
income |
-250 |
740 |
|
Non-operating
income |
0 |
0 |
|
Non-operating expense |
50 |
10 |
|
Profit before
tax |
150 |
4,650 |
|
Less: profit tax |
90 |
1,130 |
|
Profits |
60 |
3,520 |
Financial Summary
Unit: CNY’000
|
|
as of Dec. 31,
2010 |
as
of Dec. 31, 2011 |
|
Total Liabilities |
103,588 |
105,267 |
|
Shareholders equities |
36,329 |
42,897 |
|
Total Assets |
139,917 |
148,164 |
|
|
|
|
|
Turnover |
/ |
/ |
|
Net profit |
4,127 |
10,462 |
Note:
SC's accountant refused to release SC’s financial reports for Yr2010 &
2011.
The above financial data comes from the
information on SC in the audited
financial report of SC’s parent company.
Important
Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
*Current ratio |
1.29 |
1.28 |
|
*Quick ratio |
1.14 |
1.18 |
|
*Liabilities
to assets |
0.76 |
0.78 |
|
*Net profit
margin (%) |
0.01 |
0.59 |
|
*Return on
total assets (%) |
0.05 |
2.32 |
|
*Inventory
/Turnover ×365 |
8 days |
7 days |
|
*Accounts
receivable/Turnover ×365 |
34 days |
15 days |
|
*Turnover/Total
assets |
5.40 |
3.91 |
|
* Cost of
goods sold/Turnover |
0.97 |
0.96 |
|
|
as of Dec. 31,
2010 |
as
of Dec. 31, 2011 |
|
*Liabilities
to assets |
0.74 |
0.71 |
|
*Return on
total assets (%) |
2.95 |
7.06 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line in
2008, but it decreased in 2009.
l
SC’s net profit margin is average in 2008 &
2009.
l
SC’s return on total assets is average in 2008
& 2009 & 2010, and fairly good in 2011.
l
SC’s cost of goods sold is high in 2008 & 2009,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2008 & 2009.
l
SC’s quick ratio is maintained in a normal level in
2008 & 2009.
l
The inventory of SC appears average in 2008 &
2009.
l
The accounts receivable of SC appears average in
2008 & 2009.
l
The short-term loan of SC appears average in 2009.
l
SC’s turnover is in a fairly good level 2008 &
2009, comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in 2010 & 2011.
l
The risk for SC to go bankrupt is fairly low.
Overall financial
condition of the SC: Stable.
SC is considered medium-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
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 |
|
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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.