MIRA INFORM REPORT

 

 

Report Date :

22.08.2012

 

IDENTIFICATION DETAILS

 

Name :

ZHONGJI ENTERPRISES TRADE CO., LTD.

 

 

Registered Office :

Room 310 Tower C, No. 16 Ronghua South Road Economy & Technology Development Zone, Beijing 100176 Pr

 

 

Country :

China

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

03.11.1997

 

 

Com. Reg. No.:

110302005117737

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

Importing and exporting agriculture and forestry products

 

 

No. of Employees :

42

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

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

 

ZHONGJI ENTERPRISES TRADE CO., LTD.

ROOM 310 TOWER C, NO. 16 RONGHUA SOUTH ROAD

ECONOMY & TECHNOLOGY DEVELOPMENT ZONE, BEIJING 100176 PR CHINA

TEL: 86 (0) 10-59767018/59767028

FAX: 86 (0) 10-59767026

 

 

EXECUTIVE SUMMARY

 

Date of Registration         : november 3, 1997

REGISTRATION NO.                  : 110302005117737

LEGAL FORM                           : Limited liabilities company

CHIEF EXECUTIVE                  : che shaohua (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 120,000,000

staff                                      : 42

BUSINESS CATEGORY             : trading

Revenue                                : CNY 470,128,000 (AS OF DEC. 31, 2011)

EQUITIES                                 : CNY 51,074,000 (AS OF DEC. 31, 2011)

WEBSITE                                  : N/A

E-MAIL                                     : N/A

PAYMENT                                : AVERAGE

MARKET CONDITION                : average

FINANCIAL CONDITION             : FAIR

OPERATIONAL TREND             : ordinary

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                    : CNY 6.37 = 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 with State Administration of Industry & Commerce (SAIC) under registration No.: 110302005117737 on November 3, 1997.

 

SC’s Organization Code Certificate No.: 63368730-8

 

SC’s registered capital: cny 120,000,000

 

SC’s paid-in capital: cny 120,000,000

 

Registration Change Record:

 

No significant changes of SC have been noted in SAIC since its incorporation.

 

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

 

Name of Shareholder (s)

% of Shareholding

Tangshan Jidong Material Group Co., Ltd.

16.67

Tangshan Jidong Jinding Real Estate Development Co., Ltd.

83.33

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative, Chairman, and General Manager

Che Shaohua

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

 

Name                                                                                                   % of Shareholding

 

Tangshan Jidong Material Group Co., Ltd.                                                          16.67

 

Tangshan Jidong Jinding Real Estate Development Co., Ltd.                              83.33

 

 

n  Tangshan Jidong Material Group Co., Ltd.

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

Registration No.: 130223000001065

Legal Form: Limited Liabilities Company

Registered Capital: CNY 458,000,000

Legal Representative: Pang Qinghua

 

 

n  Tangshan Jidong Jinding Real Estate Development Co., Ltd.

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

Registration No.: 130223000004558

Legal Form: Limited Liabilities Company

Registered Capital: CNY 250,000,000

Legal Representative: Pei Wenhui

 

 

MANAGEMENT

 

Che Shaohua , 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

 

BUSINESS OPERATION

 

SC’s registered business scope includes selling automobiles; importing and exporting commodities and technology; processing with imported materials, processing with imported samples, assemblying with imported parts, and compensation trade in agreement; counter trade & transit trade; renting office; property management; renting equipment; investment management; information consulting; storage; selling knitting goods & textiles, grocery, machinery, electronic products, building materials and gold.

 

SC is mainly engaged in importing and exporting agriculture and forestry products.

 

SC’s products mainly include:

Cassava starch

Palm oil

Cotton

Raw sugar

Wood pulp

Etc.

 

SC sources its materials 70% from domestic market, and 30% from overseas market. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly Southeast Asia, etc.

 

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

 

Staff & Office:

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

SC is known to have approx. 42 staff at present.

 

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

 

 

RELATED COMPANY

 

SC is known to have the following subsidiaries at present,

 

Zhongji Leye (Beijing) Import and Export Co., Ltd.

Zhongji Haoyan Hotel Co., Ltd.

Beijing Zhongji Fuqing Special Vehicle Co., Ltd.

Beijing Zhongji Sibalu Hotel Co., Ltd.

Tangshan Jidong Material Enterprise Group Import & Export Co., Ltd.

Beijing Zhongji Lixin International Trade Co., Ltd.

Tangshan Jitang Customers Broker Co., Ltd.

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 local SAIC.

 

 

FINANCIALS

 

Financial Summary

Unit: CNY’000

As of Dec. 31, 2011

Long term investment

139,552

Total assets

673,299

 

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

Total liabilities

622,225

Equities

51,074

 

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

Revenue

470,128

Profit before tax

-37,076

Less: profit tax

0

Profits

-37,076

 

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

 

Important Ratios

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

 

As of Dec. 31, 2011

*Liabilities to assets

0.92

*Net profit margin (%)

-7.89

*Return on total assets (%)

-5.51

* Revenue/Total assets

0.70

 

 

FINANCIAL COMMENTS

 

PROFITABILITY: FAIR

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

l  SC’s net profit margin is fair.

l  SC’s return on total assets is fair.

 

LIQUIDITY: FAIR

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

 

LEVERAGE: FAIR

l  The debt ratio of SC is fairly high.

l  The risk for SC to go bankrupt is average.

 

Overall financial condition of the SC: Fair.

 

 

CONCLUSIONS

 

SC is considered medium-sized in its line with fair financial conditions.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

 

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.