MIRA
INFORM REPORT
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Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI BOSUN SUPPLY CHAIN MANAGEMENT CO., LTD. |
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Registered Office : |
Room A, 3/F, No. 668, East Beijing Road, Huangpu District, Shanghai, 200001 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.12.2010 |
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Com. Reg. No.: |
310115001775263 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in supply chain management and international trade mainly include daily necessities, office supplies, food agricultural produce, etc. |
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No. of Employees : |
50 |
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 |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
SHANGHAI BOSUN SUPPLY CHAIN MANAGEMENT CO., LTD.
room a, 3/f, no.
668, east beijing road,
Huangpu district,
shanghai, 200001 PR CHINA
TEL: 86 (0)
21-53081988/53081988-206 FAX: 86 (0)
21-53080601
EXECUTIVE SUMMARY
INCORPORATION DATE : Dec. 24, 2010
REGISTRATION NO. : 310115001775263
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
50
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
SUPPLY
CHAIN MANAGEMENT & TRADE
TURNOVER :
CNY 35,860,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 10,020,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : Fairly stable
OPERATIONAL TREND : Fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.36 = 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
Note: SC’s correct address should be
“Room A, 3/F” instead of the given one “Room A
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 Dec. 24, 2010.
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 supply chain management, marketing planning, enterprise
management, business consulting, international freight forwarding, warehousing,
electronic commerce; selling daily necessities, mineral products, office
supplies, food agricultural produce, arts & crafts, building materials and
feeds; importing & exporting commodities and technology, wholesaling wine,
pre-packaged food and dairy products.
SC is mainly
engaged in supply chain management and international trade.
Mr. Fang
Weiming has been legal representative
and chairman of SC since 2010.
SC is known to
have approx. 50 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
employee
refused to release the detailed information of the premise.
Note:
SC also has the other address-Room 265, 11 Block, No. 613, Eshan Road, Shanghai.
Our checks reveal that SC rents the total premise, but SC’s accountant refused
to release the gross area.
http://www.ebosun.net/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: fannykang@ebosun.net
; sj@ebosun.net
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered capital |
CNY 1,000,000 |
CNY 5,000,000 |
|
2011-8 |
CNY 5,000,000 |
Present amount |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Fang Weiming 73
Lu Di 3
Hu Ruiying 3
Chen Guoliang 3
Chen Huiying 3
Dai Xuesheng 3
Du Xiaofeng 3
Guo Zidong 3
Wang Qiuping 3
Sun Jiong 3
l
Legal representative and chairman:
Mr. Fang Weiming, born in 1964, he is currently responsible for the
overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as
legal representative and chairman.
Also working in
Shanghai Bosun Supply Chain Management Co., Ltd. Huangpu Branch as principal.
SC is mainly
engaged in supply chain management and international trade.
SC’s products mainly include: daily necessities, office supplies, food
agricultural produce, etc.
SC sources its materials 50% from domestic
market, and 50% from overseas market. SC sells 50% of its products in domestic
market, and 50% 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 clients (According to SC’s website):
===============================
According to SC’s
website:
Shanghai Jisen Import & Export Co., Ltd.
(literal translation)
Shanghai Yaohe International Trade Co., Ltd.
(literal translation)
Shanghai Xiangsen Import & Export Co.,
Ltd. (literal translation)
Branch:
Shanghai Bosun Supply Chain Management Co.,
Ltd. Huangpu Branch
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.
China Merchants Bank
Shanghai Tianyaoqiao Sub-branch
AC#：N/A
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2011 |
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Cash & bank |
3,630 |
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Inventory |
42,000 |
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Bills receivable |
0 |
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Accounts receivable |
570 |
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Other Accounts
receivable |
140 |
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Advances to
suppliers |
0 |
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To be
apportioned expense |
0 |
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Other current
assets |
5,080 |
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------------------ |
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Current assets |
51,420 |
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Fixed assets net
value |
80 |
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Long-term
investment |
0 |
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Intangible and
other assets |
0 |
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------------------ |
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Total assets |
51,500 |
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============= |
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Short loans |
0 |
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Accounts payable |
0 |
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Advance from
customers |
41,420 |
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Other Accounts
payable |
40 |
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Notes payable |
0 |
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Taxes payable |
20 |
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Withdraw the
expenses in advance |
0 |
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Other current
liabilities |
0 |
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------------------ |
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41,480 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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------------------ |
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Total
liabilities |
41,480 |
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Equities |
10,020 |
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------------------ |
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51,500 |
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============= |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2011 |
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Turnover |
35,860 |
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Cost of goods sold |
35,110 |
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Taxes and additional of main operation |
20 |
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Sales expense |
0 |
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Management expense |
700 |
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Finance expense |
10 |
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Profit before
tax |
20 |
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Less: profit tax |
5 |
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Profits |
15 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
1.24 |
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*Quick ratio |
0.23 |
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*Liabilities
to assets |
0.81 |
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*Net profit
margin (%) |
0.04 |
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*Return on
total assets (%) |
0.03 |
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*Inventory
/Turnover ×365 |
428 days |
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*Accounts
receivable/Turnover ×365 |
6 days |
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*Turnover/Total
assets |
0.70 |
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* Cost of
goods sold/Turnover |
0.98 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in 2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is average in 2011.
l
SC’s cost of goods sold is high in 2011, comparing
with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is normal in 2011.
l
SC’s quick ratio is poor in 2011.
l
SC’s inventory appears large in 2011.
l
The accounts receivable of SC is average in 2011.
l
SC has no short-term loan in 2011.
l
SC’s turnover appears fair in 2011, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in 2011.
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.
The large amount of inventory could be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.55.64 |
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|
1 |
Rs.87.31 |
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Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.