MIRA
INFORM REPORT
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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
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Name : |
JIEDONG DIMEI STONES CO., LTD. |
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Registered Office : |
Angong Park, Nanlong
Village, Didu Town, Jiedong County, Jieyang, Guangdong Province 515548 Pr |
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Country : |
China |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
16.08.1996 |
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Com. Reg. No.: |
445221000000533 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing, processing and selling natural
stone materials and micro crystal stones |
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No. of Employees : |
50 Employees |
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 : |
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) |
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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 & address
JIEDONG DIMEI STONES
CO., LTD.
ANGONG PARK, NANLONG VILLAGE, DIDU TOWN, JIEDONG COUNTY, JIEYANG
GUANGDONG PROVINCE 515548 PR CHINA
TEL: 86 (0) 663-3350467
FAX: 86 (0) 663-3364467
EXECUTIVE SUMMARY
Date of Registration : august 16, 1996
REGISTRATION NO. : 445221000000533
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 2,400,000
staff : 50
BUSINESS CATEGORY :
manufacturing & processing & trading
REVENUE :
CNY 11,340,000 (JAN. 1 2012 TO
APR. 30, 2012)
EQUITIES :
CNY 2,370,000 (AS OF APR. 30, 2012)
WEBSITE : www.dmstones.com
E-MAIL :
N/A
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 (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
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 445221000000533 on August 16,
1996.
SC’s Organization Code Certificate
No.: 70761989-4
SC’s registered capital: CNY 2,400,000
SC’s paid-in capital: CNY 2,400,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
-- |
Legal
Representative |
Chen Peizhou |
Zhou
Jianjun |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Zhou
Jianjun and other individual |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhou Jianjun |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Zhou Jianjun and other
individual 100
MANAGEMENT
Zhou Jianjun, Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Zeng Lixuan, Sales
Manager
------------------------------------------------
Ø
Gender: F
Ø
Mobile: 86 (0) 13553392052
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and selling micro crystal stones; processing stones used in construction; and
selling grocery, hardware, electric appliances, and building materials.
SC is mainly
engaged in manufacturing, processing and selling
natural stone materials and micro crystal stones.
Brand: DIMEI and
DM
SC’s products mainly include:
White
crystallized Glass panels
Cream
yellow crystallized Glass panels
White
crystallized Glass panels
Imperial
red granites
Golden
crystallized Glass panels
Spotted
white crystallized Glass panels
Ocean
blue crystallized Glass panels
Light
gray crystallized Glass panels
White
crystallized Glass panels
Etc.
SC sources its materials 70% from domestic market, mainly Guangdong, and 30% from overseas market. SC sells 100% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
The buying terms of SC include Check, T/T, L/C, Check and Credit of 30-60 days. The payment terms of SC
include L/C, Check and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 50 staff
at present.
SC rents an area
as its operating office & factory of approx. 2,300 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Apr. 30, 2012 |
|
240 |
|
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Notes receivable |
0 |
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Accounts
receivable |
460 |
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Advances to
suppliers |
0 |
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Other receivable |
670 |
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Inventory |
1,680 |
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Non-current
assets within one year |
0 |
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Other current
assets |
140 |
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------------------ |
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Current assets |
3,190 |
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Fixed assets |
710 |
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Construction in
progress |
0 |
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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 |
150 |
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------------------ |
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Total assets |
4,050 |
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============= |
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Short-term loans |
310 |
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Notes payable |
0 |
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Accounts payable |
730 |
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Advances from
clients |
540 |
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Other payable |
0 |
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Other current
liabilities |
100 |
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------------------ |
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Current
liabilities |
1,680 |
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Non-current liabilities |
0 |
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------------------ |
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Total
liabilities |
1,680 |
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Equities |
2,370 |
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------------------ |
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Total
liabilities & equities |
4,050 |
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============= |
Income Statement
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Unit: CNY’000 |
Jan.
1 2012 to Apr. 30, 2012 |
|
Revenue |
11,340 |
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Cost of sales |
10,310 |
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Sales expense |
110 |
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Management expense |
480 |
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Finance expense |
20 |
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Profit before
tax |
390 |
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Less: profit tax |
120 |
|
270 |
Important Ratios
=============
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As
of Apr. 30, 2012 |
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*Current ratio |
1.90 |
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*Quick ratio |
0.90 |
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*Liabilities
to assets |
0.41 |
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*Net profit
margin (%) |
2.38 |
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*Return on
total assets (%) |
6.67 |
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*Inventory /
Revenue ×365/120 |
18 days |
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*Accounts receivable/
Revenue ×365/120 |
5 days |
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*
Revenue/Total assets |
2.80 |
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* Cost of
sales / Revenue |
0.91 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is fairly good.
l
SC’s cost of sales is fairly high, comparing with
its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC’s short-term loans are in an average level.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.