MIRA
INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
shanghai
yajue machinery manufacturing co., ltd. |
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Registered Office : |
no. 338
Yueluo Road, Shanghai 200941 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
1.12.2009 |
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Com. Reg. No.: |
310113000800351 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Electrical
Equipment |
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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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Maximum Credit Limit : |
USD 10,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
shanghai yajue machinery
manufacturing co., ltd.
no. 338
yueluo road, shanghai 200941 PR CHINA
TEL: 86
(0) 21-56195258/56199262
FAX: 86
(0) 21-56935898
EXECUTIVE SUMMARY
Date of Registration : december 1, 2009
REGISTRATION NO. : 310113000800351
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 2,000,000
staff : 30
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 24,785,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 2,000,000 (AS OF DEC. 31, 2010)
WEBSITE : www.shdljxc.com
E-MAIL :
director@shyjdg.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD 10,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = 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
SC was established as a limited
liabilities company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 310113000800351 on December
1, 2009.
SC’s Organization Code Certificate
No.: 69728089-X
SC’s Tax No.: 31011369728089X
SC’s registered capital: cny 2,000,000
SC’s paid-in capital: cny 2,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Shareholder (s) (% of
Shareholding) |
Sha Lingfang 33% Xu Mingyuan 23% Jiang Bogen 18% Huang Yi 8% Pan Zhilong 8% Shanghai Yajue Mechanical and
Electrical Equipment Manufacturing Co., Ltd. 10% |
Sha Lingfang 35% Xu Mingyuan 25% Jiang Bogen 20% Huang Yi 10% Pan Zhilong 10% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Sha Lingfang |
35 |
|
Xu Mingyuan |
25 |
|
Jiang Bogen |
20 |
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Huang Yi |
10 |
|
Pan Zhilong |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Sha Lingfang |
|
General Manager |
Qu Xiaochun |
RECENT DEVELOPMENT
SC has got the certificate ISO9001.
SHAREHOLDER CHART &
BACKGROUND
Name % of
Shareholding
Sha Lingfang
35
Xu Mingyuan
25
Jiang Bogen
20
Huang Yi
10
Pan Zhilong
10
MANAGEMENT
Sha Lingfang, Legal Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative and
chairman
Qu Xiaochun, General Manager
-----------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as general manager
BUSINESS OPERATION
***Note: SC started
its normal operation in 2010.
SC’s registered business scope includes
manufacturing and selling electrical equipment, electrical and mechanical
equipment and accessories; selling metal materials, hardware accessories,
rubber & plastic products, packaging materials.
SC is
mainly engaged in manufacturing and selling electrical and
mechanical equipment.
Brand: YAJUE
SC’s
products mainly include:
l
MFCCE Continuons Extrusion
Machine
l
HAD Hydraulic Automatic Drawing
Bench Machinery
l
CTC Production Line
l
Automatic On-Line Cutting
Machine
l
Upward Casting Machine
l
Planer-type Winding Machine
l
Horizontal Winding Machine
l
Pointing Machine
SC sources its materials 100% from domestic
market, mainly Shanghai. SC sells 40% of its products in domestic market, and
60% to overseas market, mainly USA, France, Germany, Korea, India, etc.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
*Major Customers:
==============
Changzhou Zhongli
Copper Industry Co., Ltd.
Shanghai Yanghang
Copper Material Co., Ltd.
Ngo Han Jointstock
Company
Staff & Office:
--------------------------
SC is
known to have approx. 30
staff at present.
SC owns an area as
its operating office and factory, 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:
Industrial
and Commercial Bank of China Shanghai Yuepu Sub-branch
AC#:
1001708209006844708
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
2,001 |
|
|
Accounts
receivable |
2,578 |
|
Advances to
suppliers |
1,940 |
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Other receivable |
256 |
|
Inventory |
1,000 |
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Non-current
assets within one year |
0 |
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Other current
assets |
-1,546 |
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------------------ |
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Current assets |
6,229 |
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Fixed assets |
1,526 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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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 |
7,755 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
1,973 |
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Taxes payable |
82 |
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Advances from
clients |
3,636 |
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Other payable |
2,008 |
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Other current
liabilities |
-1,944 |
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------------------ |
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Current
liabilities |
5,755 |
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Non-current liabilities |
0 |
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------------------ |
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Total
liabilities |
5,755 |
|
Equities |
2,000 |
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------------------ |
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Total
liabilities & equities |
7,755 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
24,785 |
|
Cost of sales |
22,743 |
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Taxes and surcharges |
31 |
|
Sales expense |
536 |
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Management expense |
1,076 |
|
Finance expense |
-12 |
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Profit before
tax |
410 |
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Less: profit tax |
6 |
|
404 |
Important Ratios
=============
|
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As
of Dec. 31, 2010 |
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*Current ratio |
1.08 |
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*Quick ratio |
0.91 |
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*Liabilities
to assets |
0.74 |
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*Net profit
margin (%) |
1.63 |
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*Return on
total assets (%) |
5.21 |
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*Inventory /
Revenue ×365 |
15 days |
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*Accounts
receivable/ Revenue ×365 |
38 days |
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*
Revenue/Total assets |
3.20 |
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* Cost of
sales / Revenue |
0.92 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue 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 fairly high, 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 of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loans in 2010.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. A credit line up to USD 10,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.64.54 |
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.