MIRA
INFORM REPORT
|
Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
shanghai
yu yuan international trade co., ltd. |
|
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|
|
Registered Office : |
3/F, No. 1, Lane 135,
Jiujiaochang Road, Huangpu
District, Shanghai 200010 Pr |
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|
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|
Country : |
China |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
23.10.1995 |
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Com. Reg. No.: |
310115000306022 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Importing and exporting commodities and technology,
selling grocery, hardware |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120,000 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
shanghai yu yuan international
trade co., ltd.
3/f, no.
1, lane 135, jiujiaochang road
huangpu
DISTRICT, shanghai 200010 PR CHINA
TEL: 86 (0)
21-63551838/13482375721
FAX: 86
(0) 21-63202139
EXECUTIVE SUMMARY
Date of Registration : october 23, 1995
REGISTRATION NO. : 310115000306022
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 10,000,000
staff : 10
BUSINESS CATEGORY :
trading
Revenue : CNY 433,330,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 14,060,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
PAYMENT : AVERAGE
RECOMMENDED CREDIT LIMIT: UP TO USD 120,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = 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’s operating address should be the
heading one, while the given address (
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310115000306022 on October 23, 1995.
SC’s Organization Code Certificate
No.: 13224330-3
SC’s registered capital: cny 10,000,000
SC’s paid-in capital: cny 10,000,000
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:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shanghai Yuyuan Tourist Mart
Co., Ltd. |
96 |
|
Shanghai Yuyuan Market Arts
& Crafts Co., Ltd. |
4 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Lv Songxian |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shanghai Yuyuan Tourist Mart
Co., Ltd.
96
Shanghai Yuyuan Market Arts
& Crafts Co., Ltd.
4
n
Shanghai Yuyuan Tourist Mart Co., Ltd.
------------------------------------------------------
Registration No.:
310000000001998
Date of Registration: November
25, 1987
Legal Form: Shares Limited
Company
Registered Capital: CNY
1,437,321,976
Legal Representative: Ye Kai
Address: No. 269 Fangbang Middle
Road, Shanghai 200010 PR China
TEL: 86 (0) 21-63559999
FAX: 86 (0) 21-63550558
Web: www.yuyuantm.com.cn
E-mail: obd@yuyuantm.com.cn
n
Shanghai Yuyuan Market Arts &
Crafts Co., Ltd.
----------------------------------------------------------------
Registration No.:
310101000102197
Date of Registration: July 26,
1994
Legal Form: One-person Limited
Liabilities Company
Registered Capital: CNY
10,000,000
Legal Representative: Mei
Hongjian
Address: No. 269 Fangbang Middle
Road, Shanghai 200010 PR China
TEL: 86 (0) 21-63559999
FAX: 86 (0) 21-63552812
Web: www.hbl-crafts.cn
E-mail: ywk@hbl-crafts.cn
MANAGEMENT
Lv Songxian, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
ID# 310104196703044044
Ø
Age: 45
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Also working in Shanghai Yuyuan
Import & Export Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope
includes importing and exporting commodities and technology, selling
grocery, hardware, chemical products, building & decorating materials,
metal materials, furniture, cultural products, knitting goods & textiles,
garment, shoe & hat, toy, arts & crafts, computer & supplies, and
electronic products; economic information consultation, and pre-packaged food.
SC is mainly
engaged in international trade.
SC’s
products mainly include: chemical products, etc.
SC sources its materials
70% from domestic market and 30% from overseas market. SC sells 40% in domestic
market and 60% to the overseas market, mainly Europe, America and Japan.
The
buying terms of SC include 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. 10 staff
at present.
SC
rents an area as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Shanghai Yuyuan Import & Export Co., Ltd.
Registration No.:
310101000324019
Date of Registration: September
15, 2003
Legal Form: One-person Limited
Liabilities Company
Registered Capital: CNY
1,600,000
Legal Representative: Lv Songxian
Address:
3/F, No. 135-1, Jiujiaochang Road, Shanghai 200010 PR China
Tel:
86 (0) 21-63551838
Fax:
86 (0) 21-63202139
Web:
www.yuyuantrade.com
E-mail: jinchk@yuyuantm.com.cn
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
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
10,890 |
18,040 |
|
|
Notes receivable |
0 |
0 |
|
Accounts
receivable |
0 |
110 |
|
Advances to
suppliers |
0 |
121,670 |
|
Other receivable |
470 |
8,280 |
|
Inventory |
0 |
0 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
10 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
11,370 |
148,100 |
|
Fixed assets |
0 |
10 |
|
Construction in
progress |
0 |
0 |
|
Intangible
assets |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
250 |
220 |
|
|
------------------ |
------------------ |
|
Total assets |
11,620 |
148,330 |
|
|
============= |
============= |
|
Short-term loans |
0 |
0 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
160 |
7,480 |
|
Wages payable |
0 |
0 |
|
Taxes payable |
0 |
0 |
|
Advances from
clients |
0 |
129,090 |
|
Other payable |
1,300 |
3,910 |
|
Other current
liabilities |
70 |
-6,210 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
1,530 |
134,270 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
1,530 |
134,270 |
|
Equities |
10,090 |
14,060 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
11,620 |
148,330 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
433,330 |
|
Cost of sales |
426,600 |
|
Sales expense |
1,320 |
|
Management expense |
150 |
|
Finance expense |
-60 |
|
Profit before
tax |
5,310 |
|
Less: profit tax |
1,340 |
|
3,970 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
*Current ratio |
7.43 |
1.10 |
|
*Quick ratio |
7.43 |
1.10 |
|
*Liabilities
to assets |
0.13 |
0.91 |
|
*Net profit
margin (%) |
-- |
0.92 |
|
*Return on
total assets (%) |
-- |
2.68 |
|
*Inventory /
Revenue ×365 |
-- |
-- |
|
*Accounts
receivable/ Revenue ×365 |
-- |
1 day |
|
*
Revenue/Total assets |
-- |
2.92 |
|
* Cost of
sales / Revenue |
-- |
0.98 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
fairly good in its line in 2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is average in 2011.
l
SC’s cost of sales is high, comparing with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a good
level in 2010, and appears normal in 2011.
l
SC’s quick ratio is maintained in a good level in
2010, and appears normal in 2011.
l
SC has no inventory in both years.
l
The accounts receivable of SC appears average in
2011.
l
SC has no short-term loans in both years.
l
SC’s revenue is in an average
level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is high in 2011.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
Credit Opinion: USD 1,500,000
SC is considered small-sized in its line with
fairly stable financial conditions. A credit line at the above amount appears beyond SC’s
capacities, while a credit line up to USD 120,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.06 |
|
|
1 |
Rs.78.08 |
|
Euro |
1 |
Rs.65.15 |
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.