MIRA INFORM REPORT
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Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN
BAIGUAN SCIENCE AND TECHNOLOGY co., ltd. |
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Registered Office : |
Floor 2, Comprehensive Building, No. 38 Keji East Road, A
Park Of Shishan Technology Industrial Zone, Nanhai District, Foshan
City, Guangdong, 528225 PR |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.11.2008 |
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Com. Reg. No.: |
440602000080323 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in assembling and trading of stainless steel equipment. |
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No. of Employees : |
5 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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
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Source : CIA |
Company
name and address
FOSHAN
BAIGUAN SCIENCE AND TECHNOLOGY co., ltd.
Floor 2,
TEL: 86 (0) 757-88389878/82362653 FAX: 86 (0) 757-81162189
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOV. 26, 2008
REGISTRATION NO. :
440602000080323
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL :
CNY 100,000
BUSINESS LINE :
ASSEMBLING AND TRADING
TURNOVER :
CNY 1,326,960 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 149,266 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2405= USD
Adopted
abbreviations:
ANS -
amount not stated
NS -
not stated
SC -
subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a
limited liabilities company at local Administration for Industry & Commerce
(AIC - The official body of issuing and renewing business license) on Nov. 26,
2008.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s
registered business scope includes R&D, designing, installing, maintaining
and selling: tuber machines, precision tube welding machines, slitting
machines, flat machines, inner leveling, domestic trade (with permit if need).
SC is
mainly engaged in assembling and trading of stainless steel equipment.
Mr. Wu
Guoquan is legal representative, chairman and general manager of SC at present.
SC is
known to have approx. 5 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Foshan. Our checks reveal that SC rents the premise with about 50㎡.
www.fsbaiguan.com
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
Email: fsbaiguan@vip.163.com
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
Honors:
SC passed ISO9001:2008 certification
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wu Dangquan
80
Wu Guoquan
20
l Legal
Representative, Chairman and General Manager:
Mr. Wu Guoquan is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager.
SC is
mainly engaged in assembling and trading of stainless steel equipment.
SC’s products mainly include: tube
welding machines, polishing machines, slitting machines, embossing machines,
flat machines, online leveling annealing, pipe dies, stainless steel machinery
parts, 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.
Note: SC’s management declined to release its major clients and
suppliers.
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet 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.
Foshan
City Chancheng District Rural Credit Cooperative
Account
No.: 80020000001367389
Relationship:
Normal
Balance
Sheet
Unit:
CNY
|
|
as of Dec. 31, 2011 |
|
Cash
& bank |
711,638 |
|
Inventory |
106,816 |
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Accounts
receivable |
3,500 |
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Short-term
investment |
0 |
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Dividends
receivable |
0 |
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Interest
receivable |
0 |
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Subsidies
receivable |
0 |
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Advances
to suppliers |
0 |
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Notes
receivable |
0 |
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Other
receivables |
50,168 |
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Prepaid
expenses |
0 |
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|
------------------ |
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Current
assets |
872,122 |
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Fixed
assets net value |
3,933 |
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Long
term investment |
0 |
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Projects
under construction |
0 |
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------------------ |
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Total
assets |
876,055 |
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|
============= |
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Short
loans |
0 |
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Accounts
payable |
-281,164 |
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Advances
from clients |
983,077 |
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Accrued
payroll |
0 |
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Welfares
payable |
0 |
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Taxes
payable |
23,620 |
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Other
payable to government |
1,256 |
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Other
accounts payable |
0 |
|
|
------------------ |
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Current
liabilities |
726,789 |
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Long
term liabilities |
0 |
|
|
------------------ |
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Total
liabilities |
726,789 |
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Equities |
149,266 |
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|
------------------ |
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Total
liabilities & equities |
876,055 |
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|
============= |
Income
Statement
Unit:
CNY
|
|
as
of Dec. 31, 2011 |
|
Turnover |
1,326,960 |
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Cost
of goods sold |
1,147,709 |
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Taxes
and additional of main operation |
3,286 |
|
Sales expense |
102,811 |
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Management expense |
16,344 |
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Finance expense |
-494 |
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Non-operating
income |
0 |
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Non-operating expense |
0 |
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Profit
before tax |
57,304 |
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Less:
profit tax |
14,326 |
|
Profits |
42,978 |
Important
Ratios
=============
|
|
as of Dec. 31, 2011 |
|
*Current
ratio |
1.20 |
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*Quick
ratio |
1.05 |
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*Liabilities
to assets |
0.83 |
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*Net
profit margin (%) |
3.24 |
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*Return
on total assets (%) |
4.91 |
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*Inventory
/Turnover ×365 |
29
days |
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*Accounts
receivable/Turnover ×365 |
1
days |
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*Turnover/Total
assets |
1.51 |
|
*
Cost of goods sold/Turnover |
0.86
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PROFITABILITY:
AVERAGE
l
The turnover 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 goods sold is average,
comparing with its turnover.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is normal.
l
SC’s quick ratio is normal.
l
SC’s inventory is average in 2011.
l
SC’s account receivable is small in
2011.
l
SC has no short loan in 2011.
l
SC’s turnover is average, 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
average.
Overall
financial condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable
financial conditions. Taking into consideration of SC's operation size and development
history, we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
|
1 |
Rs.88.39 |
|
Euro |
1 |
Rs.72.62 |
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 |
|
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.