MIRA INFORM REPORT
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Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
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Name : |
Sun Chateau International Wines Trading Co., Ltd. |
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Registered Office : |
Room 1103, Shanghai Bank
Building, No. 168 Yincheng (M) Road, Pudong
New Area, Shanghai 200122 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.05.2010 |
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Com. Reg. No.: |
310115001233631 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and exporting goods and technology, selling pre
packaged food, building and decorating materials |
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No. of Employees : |
30 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
Sun Chateau International Wines Trading
Co., Ltd.
ROOM
1103, SHANGHAI BANK BUILDING, NO. 168 YINCHENG (M) ROAD
PUDONG
NEW AREA, SHANGHAI 200122 PR CHINA
TEL: 86
(0) 21-32301739
FAX: 86
(0) 21-32301739
EXECUTIVE SUMMARY
Date of Registration : MAY 13, 2010
REGISTRATION NO. : 310115001233631
LEGAL FORM :
Limited liabilities company
REGISTERED CAPITAL :
cny 10,000,000
staff : 30
BUSINESS CATEGORY :
TRADING
Revenue : CNY 3,761,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY -1,419,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.36 = USD
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
***Note: The interviewed person is Mr.
Guan, who is the accountant of SC.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310115001233631 on
May 13, 2010.
SC’s Organization Code Certificate
No.: 55433833-7
SC’s registered capital: cny 10,000,000
SC’s paid-in capital: cny 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2012-6 |
Paid-in Capital |
CNY 2,000,000 |
cny 10,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Pang Zhe |
10 |
|
Yang Wanzong |
90 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Pang
Ran |
|
Supervisor |
Pang
Zhe |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Pang Zhe
10
Yang Wanzong
90
MANAGEMENT
Pang
Ran, Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working
experience (s):
From 2010 to present, working in
SC as legal representative, chairman and general manager
Pang Zhe, Supervisor
-------------------------------------
Ø
Gender: M
BUSINESS OPERATION
***Note: SC started
its normal operation in November 2011.
SC’s registered business scope
includes importing and exporting goods and technology, selling pre
packaged food, building and decorating materials, metal materials, electrical
and mechanical equipment, clothing and footwear, handicrafts, daily
necessities, office supplies, hotel supplies; investment management, business
consulting, exhibition services; marketing planning.
SC is
mainly engaged in selling wine.
SC’s
products mainly include: wine.
SC sources its materials 100% from overseas market, mainly Europe. SC sells 100% of its products in domestic market, mainly Shanghai.
The
buying terms of SC include L/C 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. 30
staff at present.
SC
rents an area as its operating office of approx. 400 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
Basic Bank:
Bank of Wenzhou Shanghai Branch
AC#: 905000120190004016
FINANCIALS
Balance Sheet
|
Unit:
CNY’000 |
As of Dec. 31, 2011 |
|
497 |
|
|
Notes receivable |
0 |
|
Accounts
receivable |
125 |
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Advances
to suppliers |
0 |
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Other
receivable |
5,342 |
|
Inventory |
4,948 |
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Non-current
assets within one year |
0 |
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Other
current assets |
285 |
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|
------------------ |
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Current
assets |
11,197 |
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Fixed
assets |
1,045 |
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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 |
0 |
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------------------ |
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Total
assets |
12,242 |
|
|
============= |
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Short-term
loans |
0 |
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Notes
payable |
0 |
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Accounts
payable |
1,627 |
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Advances
from clients |
0 |
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Other
payable |
10,265 |
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Other
current liabilities |
1,769 |
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|
------------------ |
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Current
liabilities |
13,661 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
13,661 |
|
Equities |
-1,419 |
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------------------ |
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Total
liabilities & equities |
12,242 |
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|
============= |
Income Statement
|
Unit:
CNY’000 |
As
of Dec. 31, 2011 |
|
Revenue |
3,761 |
|
Cost of sales |
7,180 |
|
Sales expense |
1,370 |
|
Management expense |
3,031 |
|
Finance expense |
8 |
|
Profit
before tax |
-3,419 |
|
Less:
profit tax |
0 |
|
-3,419 |
Important
Ratios
=============
|
|
As of Dec. 31, 2011 |
|
*Current
ratio |
0.82 |
|
*Quick
ratio |
0.46 |
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*Liabilities
to assets |
1.12 |
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*Net
profit margin (%) |
-90.91 |
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*Return
on total assets (%) |
-27.93 |
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*Inventory
/ Revenue ×365 |
481
days |
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*Accounts
receivable/ Revenue ×365 |
13
days |
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* Revenue/Total
assets |
0.31 |
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*
Cost of sales / Revenue |
1.91 |
FINANCIAL
COMMENTS
PROFITABILITY:
POOR
l SC
started its normal operation in November 2011, and the revenue appears fair in
its line.
l SC’s
net profit margin is poor.
l SC’s
return on total assets is poor.
l
SC’s cost of sales is too high,
comparing with its revenue.
LIQUIDITY:
FAIR
l
The current ratio of SC is maintained
in a fair level.
l
SC’s quick ratio is maintained in a
fair level.
l
The inventory of SC appears large.
l
The accounts receivable of SC is
maintained in an average level.
l
SC has no short-term loans in 2011.
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 high.
l
The risk for SC to go bankrupt is above
average.
Overall
financial condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
-- |
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.