MIRA INFORM REPORT
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Report Date : |
28.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING ORIENTAL SEA-TIDE CO., LTD. |
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Registered Office : |
Room 301 Suit 4, Tower 6 Of First Zone Yipengyuan,
Jijiamiao Fengtai District, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.02.2007 |
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Com. Reg. No.: |
110106010019458 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling packaged foods, seasoning and frozen products. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
Since the late 1970s
Source : CIA
Company name and address
BEIJING ORIENTAL SEA-TIDE CO., LTD.
ROOM 301 SUIT 4, TOWER 6 OF FIRST ZONE YIPENGYUAN, JIJIAMIAO
FENGTAI DISTRICT, BEIJING 100070 PR CHINA
TEL: 86 (0) 10-83605539
FAX: 86 (0) 10-83605562
EXECUTIVE SUMMARY
Date of Registration : FEBruary 27, 2007
REGISTRATION NO. : 110106010019458
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 1,000,000
staff :
3
BUSINESS CATEGORY : trading
Revenue :
CNY 189,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 943,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
ivy_lishuhong@yahoo.com.cn
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
CNY 6.24 = 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
***Note: SC refused to release anything, and the
information in this report is from local SAIC.
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110106010019458
on February 27, 2007.
SC’s Organization Code Certificate No.:
79901755-8
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
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:-
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Name of Shareholder (s) |
% of Shareholding |
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Yin Jianjun |
51 |
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Yin Haitao |
49 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Yin Jianjun |
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Supervisor |
Yin Haitao |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Yin Jianjun 51
Yin Haitao 49
MANAGEMENT
Yin Jianjun , Legal Representative, Chairman and General
Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 41
Ø
ID# 130604197107211238
Ø Qualification:
University
Ø Working experience
(s):
From 2007 to present, working in SC as
legal representative, chairman and general manager
Yin
Haitao , Supervisor
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Ø Gender: M
Ø Age: 38
Ø
ID# 132433740807351
BUSINESS OPERATION
SC’s registered business scope includes selling packaged foods,
seasoning and frozen products.
SC is mainly
engaged in selling various frozen products.
SC’s products
mainly include:
Greenland Halibut
WR
Greenland Halibut
HGT
Greenland Halibut
Heads
Seabass
Salmon
Female Caplin
California Squid
Cuttlefish
Skate Wing
SC sources its materials 80% from domestic market, and 20% from overseas markets. SC sells 80% of its products in domestic market, and 20% to overseas market, mainly Southeast Asia and European countries.
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. 3 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 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:
Rural Commercial Bank Beijing Branch Lugouqiao Sub-branch
AC#:
0203010103000043825
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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724 |
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Notes receivable |
0 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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Other receivable |
0 |
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Inventory |
237 |
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Non-current
assets within one year |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
961 |
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Fixed assets |
13 |
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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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Total assets |
974 |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Advances from
clients |
0 |
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Other payable |
30 |
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Other current
liabilities |
1 |
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Current liabilities |
31 |
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Non-current
liabilities |
0 |
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Total
liabilities |
31 |
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Equities |
943 |
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Total
liabilities & equities |
974 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2011 |
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Revenue |
189 |
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Cost of sales |
156 |
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Sales expense |
27 |
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Management expense |
35 |
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Finance expense |
0 |
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Profit before
tax |
-29 |
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Less: profit tax |
3 |
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-32 |
Important Ratios
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As
of Dec. 31, 2011 |
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*Current ratio |
31.00 |
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*Quick ratio |
23.35 |
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*Liabilities
to assets |
0.03 |
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*Net profit
margin (%) |
-16.93 |
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*Return on
total assets (%) |
-3.29 |
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*Inventory /
Revenue ×365 |
458 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
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* Revenue/Total
assets |
0.19 |
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* Cost of
sales / Revenue |
0.83 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l The revenue of SC
appears poor in its line.
l SC’s net profit
margin is poor.
l SC’s return on
total assets is fair.
l
SC’s cost of sales is average, 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
conversion period of SC appears long.
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SC has no accounts receivable.
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SC has no short-term loans.
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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 low.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.84 |
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1 |
Rs.88.55 |
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Euro |
1 |
Rs.72.63 |
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 |
-- |
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.