MIRA INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING SONG LE RONG XING TRADING CO., LTD. |
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Registered Office : |
A-507, Botai International Building, No. 122 Wangjingnanhu
East Park, Chaoyang District, Beijing, 100102 Pr |
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Country : |
United States |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.07.2007 |
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Com. Reg. No.: |
110105010317308 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
selling chemical products, electronic products and other products |
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No. of Employees
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06 |
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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Maximum Credit Limit : |
usd 1,000 |
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Status : |
Small Company |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 & address
beijing song le rong xing trading CO., LTD.
A-507, BOTAI INTERNATIONAL BUILDING, NO. 122
WANGJINGNANHU EAST PARK, CHAOYANG DISTRICT, BEIJING, 100102 PR CHINA
TEL: 86 (0)
10-84724896 FAX: 86 (0)
10-84724896-616
EXECUTIVE SUMMARY
INCORPORATION DATE : july 4, 2007
REGISTRATION NO. : 110105010317308
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 126,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 382,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 1,000 (PERIODICAL REVIEW)
MARKET CONDITION : Fair
FINANCIAL CONDITION : Fair
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3012 = usd 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: SC’s correct name should be the heading one.
SC was registered as a limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on July 4, 2007.
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 selling building materials, hardware, electronic products,
chemical products (excluding hazardous chemicals), machinery equipment and
daily necessities.
SC is mainly
engaged in selling chemical products, electronic products and other products.
Mr. Wu Guoli has
been legal representative, chairman and general manger of SC since 2009.
SC is known to
have approx. 6 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Beijing. SC’s employee refused
to release the detailed information of the premise.
SC is not known to host website of its own at present.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
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|
Legal representative |
Guo Feng |
Present one |
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Shareholders (% of shareholding) |
Guo Feng 60% Feng Fuzhou 40% |
Present ones |
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Wu Guoli 20
Wang Jinguang 20
Shen Jining 20
Li Jingjing 20
Guo Jian 20
l
Legal representative, chairman and
general manager:
Mr. Wu Guoli, ID# 110104195409272052, born in 1954, he is currently responsible
for the overall management of SC.
Working Experience(s):
From 2009 to present Working in SC as legal representative, chairman and general manager.
Supervisor:
=========
Li Jingjing
ID# 110103197110200081
SC is mainly
engaged in selling chemical products, electronic products and other products.
SC’s products mainly include: chemical products, electronic products,
etc.
SC sources its materials 50% from domestic market,
and 50% from overseas market. SC sells 60% of its products in domestic market,
and 40% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note:
SC refused 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.
Huaxia Bank
Beijing Chaoyangmen Sub-branch
AC#：819926430
Relationship: Normal.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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Cash & bank |
213 |
208 |
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Inventory |
0 |
0 |
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Bills receivable |
0 |
0 |
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Accounts
receivable |
9 |
9 |
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Other Accounts
receivable |
100 |
100 |
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Advances to
suppliers |
0 |
0 |
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To be
apportioned expense |
80 |
77 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
402 |
394 |
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Fixed assets net
value |
4 |
12 |
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Long-term
investment |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
406 |
406 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
7 |
9 |
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Advance from
customers |
0 |
0 |
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Accrued payroll |
9 |
11 |
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Other Accounts
payable |
4 |
4 |
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Notes payable |
0 |
0 |
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Taxes payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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20 |
24 |
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Long term
liabilities |
0 |
0 |
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Other
liabilities |
0 |
0 |
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Total
liabilities |
20 |
24 |
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Equities |
386 |
382 |
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------------------ |
------------------ |
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406 |
406 |
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Income Statement
Unit: CNY’000
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As of Dec. 31, 2010 |
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Turnover |
126 |
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Cost of goods sold |
0 |
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Taxes and additional of main
operation |
7 |
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Sales expense |
39 |
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Management expense |
87 |
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Finance expense |
-2 |
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Profit before
tax |
-4 |
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Less: profit tax |
0 |
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Profits |
-4 |
Important Ratios
=============
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Current ratio |
20.10 |
16.42 |
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*Quick ratio |
20.10 |
16.42 |
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*Liabilities
to assets |
0.05 |
0.06 |
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*Net profit
margin (%) |
/ |
-3.17 |
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*Return on
total assets (%) |
/ |
-0.99 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
26 days |
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*Turnover/Total
assets |
/ |
0.31 |
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* Cost of
goods sold/Turnover |
/ |
0 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fair in 2010.
l
SC’s net profit margin is fair in 2010.
l
SC’s return on total assets is fair in 2010.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal level in both years.
l
SC’s quick ratio is maintained in a normal level in both years.
l
SC has no inventory in both years.
l
The accounts receivable
of SC is maintained in an average level in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets in 2010.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
A credit line at the above amount appears to be
beyond SC’s capacities, while a credit line up to USD 1,000 would appear
to be within SC’s capacities upon a periodical review
basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.13 |
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UK Pound |
1 |
Rs.77.85 |
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Euro |
1 |
Rs.64.78 |
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 |
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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.