MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
jiangxi
jinhong trade co., ltd. |
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Registered Office : |
Block A, Jinxi County Industrial
Development Zone, Fuzhou, Jiangxi Province
344800 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.01.2007 |
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Com. Reg. No.: |
3625282000375 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International trade, selling plastic products, metal products etc. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 15,000 |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
jiangxi jinhong trade co., ltd.
block a,
jinxi county industrial development zone
fuzhou, Jiangxi Province 344800 PR CHINA
TEL: 86
(0) 794-5292825
FAX: 86
(0) 794-5292825
EXECUTIVE SUMMARY
Date of Registration : january 4, 2007
REGISTRATION NO. : 3625282000375
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 2,000,000
staff : 3
BUSINESS CATEGORY :
trading
Revenue :
CNY 54,821,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 2,195,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
15,000
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.: 3625282000375 on January 4, 2007.
SC’s Organization Code Certificate
No.: 79696474-4
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 |
|
|
Company Name |
Jiangxi Jinhong Import and Export Co., Ltd. |
Jiangxi Jinhong Trade Co., Ltd. |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shi Min |
50 |
|
Zhang Xiaoyan |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Shi Min |
|
Supervisor |
Zhang
Xiaoyan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shi Min
50
Zhang Xiaoyan
50
MANAGEMENT
Shi Min, Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 40
Ø
ID# 330725197209052519
Ø
Qualification:
University
Ø
Working
experience (s):
From 2007 to present, working in SC as legal representative,
chairman and general manager
Also
working in Zhejiang Jinhong International Freight Forwarders Co., Ltd. as legal
representative
Zhang
Xiaoyan, Supervisor
-----------------------------------------------
Ø
Gender: F
Ø
Age: 34
Ø
ID# 330725197804155424
BUSINESS OPERATION
SC’s registered business scope includes international
trade, selling plastic products, metal products, steel, chemical products, arts
and crafts, hardware, general merchandise, textiles and raw materials.
SC is
mainly engaged in international trade.
SC’s
products mainly include: arts and crafts.
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 100% of its products to overseas market,
mainly USA.
The buying
terms of SC include T/T and Credit of 30-60 days. The payment terms of SC
include L/C and Credit of 30-60 days.
*Major Customers:
==============
Century Imp. &
Exp. Inc.
Benbang
International Group Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 3
staff at present.
SC rents an area
as its operating office of approx. 50 sq. meters at the heading address.
RELATED COMPANY
n
Zhejiang Jinhong International Freight Forwarders Co., Ltd.
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Date of Registration: December 23, 2004
Registration No.: 330782000140173
Legal Form: Limited
Liabilities Company
Registered Capital: CNY 5,000,000
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
The bank information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
0 |
|
Total assets |
6,189 |
7,199 |
|
|
------------- |
------------- |
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Total
liabilities |
4,144 |
5,004 |
|
Equities |
2,045 |
2,195 |
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|
------------- |
------------- |
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Revenue |
49,533 |
54,821 |
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Profit before
tax |
131 |
199 |
|
Less: profit tax |
31 |
49 |
|
Profits |
100 |
150 |
Note: The detailed financials for Y2009 and Y2010 are not filed in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.67 |
0.70 |
|
*Net profit
margin (%) |
0.20 |
0.27 |
|
*Return on
total assets (%) |
1.62 |
2.08 |
|
*
Revenue/Total assets |
8.00 |
7.62 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average, and it was
rising in 2010.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in a
fairly good level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average in both years.
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 15,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.28 |
|
|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.58 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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.