MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

SHENZHEN IDEAL JEWELLERY CO., LTD.

 

 

Registered Office :

2-3/F, North Block, No. 1005 Dongxiao Road, Luohu District Shenzhen, Guangdong Province 518020 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.08.2001

 

 

Com. Reg. No.:

440301102776065

 

 

Legal Form :

Shares Limited Company

 

 

Line of Business :

Selling jewelry, platinum jewelry, gold jewelry, K gold jewelry, palladium jewelry, silver jewelry, jade, diamond, ruby and sapphire

 

 

No. of Employees :

490

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

SHENZHEN IDEAL JEWELLERY CO., LTD.

2-3/F, NORTH BLOCK, NO. 1005 DONGXIAO ROAD, LUOHU DISTRICT

SHENZHEN, GUANGDONG PROVINCE 518020 PR CHINA.

TEL: 86 (0) 755-25635988/25798311

FAX: 86 (0) 755-25631829

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : AUGUST 16, 2001

REGISTRATION NO.                  : 440301102776065

LEGAL FORM                           : SHARES LIMITED COMPANY

CHIEF EXECUTIVE                    : SU RIMING (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 75,000,000

staff                                      : 490

BUSINESS CATEGORY             : manufacturing

Revenue                                : CNY 595,460,000 (AS OF DEC. 31, 2011)

EQUITIES                                 : CNY 285,990,000 (AS OF DEC. 31, 2011)

WEBSITE                                 : www.idr.com.cn

E-MAIL                                     : ideal@idr.com.cn

PAYMENT                                : AVERAGE

MARKET CONDITION                : COMPETITIVE

FINANCIAL CONDITION             : FAIRly good

OPERATIONAL TREND              : 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

Not yet be determined

 

 

LEGAL STATUS & HISTORY

 

SC was established as a limited liabilities company of PRC on August 16, 2001. However, SC changed to present legal form, and was registered as shares limited company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 440301102776065 on August 4, 2008.

 

SC’s Organization Code Certificate No.: 73111295-4

SC’s registered capital: cny 75,000,000

 

SC’s paid-in capital: cny 75,000,000

 

Registration Change Record:-

 

Date

Change of Contents

Before the change

After the change

2005-4-19

Legal Representative

Su Yongming

Su Riming

Registered Capital

CNY 3,000,000

CNY 10,000,000

2007-8-13

Registration No.

4403012072019

440301102776065

2007-11-27

Registered Capital

CNY 10,000,000

CNY 30,000,000

2007-12-19

Registered Capital

CNY 30,000,000

CNY 50,000,000

2008-8-4

SC’s Chinese Name

深圳市爱迪尔珠宝首饰有限公司

深圳市爱迪尔珠宝股份有限公司

Registered Legal Form

Limited Liabilities Company

Shares Limited Company

2008-9-29

Registered Capital

CNY 50,000,000

CNY 58,000,000

2010-2-3

Registered Capital

CNY 58,000,000

CNY 61,800,000

2010-11-22

Registered Capital

CNY 61,800,000

CNY 75,000,000

 

Current Co search indicates SC’s shareholders & chief executives are as follows:-

 

Name of Shareholder (s)

% of Shareholding

Su Riming

34.6467

Su Yongming

15.0008

Shenzhen Capital Group Co., Ltd.

8.9333

Di Ailing

6.8000

Beijing Jiali Jiuding Investment Center

6.6667

Shenzhen Aihang Investment Co., Ltd.

4.4659

Zhu Xinwu

4.7267

Sun Lin

4.0000

Su Qihao

3.4600

Shenzhen Xinghe Investment Co., Ltd.

2.0000

Other 25 individuals

9.2999

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative and Chairman

Su Riming

Vice Chairman

Zhu Xinwu

General Manager

Maio Zhiguo

Director

Jin Yan

Su Yongming

Hua Guihong

Li Chengfeng

Bi Lijun

Su Qihao

Li Tianming

Fan Xingjian

Supervisor

Liu Li

Zheng Hengyi

Su Jianghong

 

 

 

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                                   % of Shareholding

 

Su Riming                                                                                                         34.6467

 

Su Yongming                                                                                                     15.0008

 

Shenzhen Capital Group Co., Ltd.                                                                       8.9333

 

Di Ailing                                                                                                            6.8000

 

Beijing Jiali Jiuding Investment Center                                                                  6.6667

 

Shenzhen Aihang Investment Co., Ltd.                                                                 4.4659

 

Zhu Xinwu                                                                                                          4.7267

 

Sun Lin                                                                                                             4.0000

 

Su Qihao                                                                                                           3.4600

 

Shenzhen Xinghe Investment Co., Ltd.                                                                 2.0000

 

Other 25 individuals                                                                                            9.2999

 

 

*         Shenzhen Capital Group Co., Ltd.

============================

Date of Registration: August 25, 1999

Registration No.: 440301103269709

Legal Form: Limited Liabilities Company

Chief Executive: Jin Haitao

Registered Capital: CNY 2,501,339,000

 

 

*         Beijing Jiali Jiuding Investment Center

================================

Date of Registration: April 23, 2010

Registration No.: 110102012806231

Registered Capital: CNY 810,010,000

 

 

*         Shenzhen Aihang Investment Co., Ltd.

===============================

Date of Registration: August 22, 2008

Registration No.: 440301103578209

Legal Form: Limited Liabilities Company

Chief Executive: Zheng Hengyi

Registered Capital: CNY 5,158,000

 

 

*         Shenzhen Xinghe Investment Co., Ltd.

===============================

Date of Registration: September 18, 2009

Registration No.: 440301104278815

Legal Form: One-person Limited Liabilities Company

Chief Executive: Huang Chulong

Registered Capital: CNY 10,000,000

 

 

MANAGEMENT

 

Su Riming , Legal Representative and Chairman

--------------------------------------------------------------------------

Ø         Gender: M

Ø         Age: 45

Ø         Qualification: University

Ø         Working experience (s):

 

From 2005 to present, working in SC as legal representative and chairman

 

Zhu Xinwu , Vice Chairman

--------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

 

Before, worked in SC as general manager

At present, working in SC as vice chairman

Also working in Shenzhen Ideal Jewellery Co., Ltd. Jewellery Processing Plant as principal

 

 

Maio Zhiguo , General Manager

----------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

 

At present, working in SC as general manager

 

 

Director

-----------

Jin Yan

Su Yongming

Hua Guihong

Li Chengfeng

Bi Lijun

Su Qihao

Li Tianming

Fan Xingjian

 

 

Supervisor

--------------

Liu Li

Zheng Hengyi

Su Jianghong

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes selling jewelry, platinum jewelry, gold jewelry, K gold jewelry, palladium jewelry, silver jewelry, jade, diamond, ruby and sapphire, mosaic jewelry, arts and crafts; domestic trade; economic information consultation; industry development; international trade; information service.

 

SC is mainly engaged in selling jewelry.

SC’s products mainly include: jewelry, platinum jewelry, gold jewelry, K gold jewelry, palladium jewelry, silver jewelry, jade, diamond, ruby and sapphire, mosaic jewelry, etc.

 

SC sources its materials 100% from domestic market. SC sells 100% of its products in domestic market.

 

The buying terms of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC include Check, T/T and Credit of 30-60 days.

 

Staff & Office:

--------------------------

SC is known to have approx. 490 staff at present.

 

SC rents an area as its operating office, but the detailed information is unknown.

 

 

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 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.

 

 

BANKING

 

Basic Bank:

 

Industrial & Commercial Bank of China Shenzhen Honghu Sub-branch

AC#: 44020519200200562

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2011

Long term investment

1,500

Total assets

463,370

 

-------------

Total liabilities

177,380

Equities

285,990

 

-------------

Revenue

595,460

Profits

59,430

 

Note: The detailed financials for Y2011 are not available in SAIC.

 

Important Ratios

=============

 

As of Dec. 31, 2011

*Liabilities to assets

0.38

*Net profit margin (%)

9.98

*Return on total assets (%)

12.83

* Revenue/Total assets

1.29

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: FAIRLY GOOD

l         The revenue of SC appears fairly good in its line.

l         SC’s net profit margin is fairly good.

l         SC’s return on total assets is good.

 

LIQUIDITY: AVERAGE

l         SC’s revenue is in an average level, comparing with the size of its total assets.

 

LEVERAGE: FAIRLY GOOD

l         The debt ratio of SC is low.

l         The risk for SC to go bankrupt is low.

 

Overall financial condition of the SC: Fairly Good.

 

 

CONCLUSIONS

 

SC is considered large-sized in its line with fairly good financial conditions.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.54

Euro

1

Rs.68.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.