MIRA INFORM REPORT
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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
FOSHAN NANHAI GRAND CHAMPION TRADING LIMITED |
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Registered Office : |
Room 1716, Block 2, Tian’an Nanhai Digital City, No. 1, Jianping Road, Guicheng, Nanhai District, Foshan City Guangdong Province, 518001 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
26.08.2004 |
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Com. Reg. No.: |
440682000081707 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
International Trade |
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No. of Employees
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15 |
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 : |
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
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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
FOSHAN NANHAI GRAND CHAMPION TRADING LIMITED
ROOM 1716, block 2,
TIAN’AN NANHAI DIGITAL CITY, NO. 1, JIANPING ROAD,
GUICHENG, nanhai
district, foshan city
guangdong PROVINCE,
518001 PR CHINA
TEL: 86 (0) 757-86322778
FAX: 86 (0) 757-86223707
EXECUTIVE SUMMARY
INCORPORATION DATE : AUGUST 26, 2004
REGISTRATION NO. : 440682000081707
REGISTERED LEGAL FORM : Limited Liability
Company
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER : CNY 412,854,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 1,443,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 10,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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
SC was registered as a limited liability company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on August 26, 2004.
Company Status: Limited Liability Company 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 domestic trade; importing and exporting commodities and
technology.
SC is mainly
engaged in international trade.
Ms. Deng Xuefang
has been chairman of SC since 2004.
SC is known to
have approx. 15 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Foshan. SC’s accountant refused to release the gross area of the
premise.
http://www.fsguanhong.com The
design is professional and the content is well organized. At present the web
site is both in Chinese and English versions.
E-mail: nhguanhong@21cn.com
Changes
of its registered information:
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Date |
Item |
Before the change |
After the change |
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Shareholders |
Deng Weihong 15% Deng Xuefang 85% |
Foshan
Guangxinda Investment Industry Co., Ltd. 75% Deng Xuefang 25% |
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Registration No. |
4406822007558 |
440682000081707 |
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Shareholders |
Foshan
Guangxinda Investment Industry Co., Ltd. 75% Deng Xuefang 25% |
Cheng Guoqiang 10% Deng Xuefang 90% |
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|
Shareholders |
Cheng Guoqiang
10% Deng Xuefang 90% |
Yuan Shaomei 10% Deng Xuefang 90% |
MAIN SHAREHOLDERS:
Name % of Shareholding
Deng Xuefang (ID# 440622197004033622) 90
Yuan Shaomei (ID#
44062219750904102X) 10
l
Chairman and
General Manager:
Ms. Deng Xuefang, 40 years old with university education. She is
currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as chairman and general manager.
Supervisor:
========
Yuan Shaomei
SC is mainly
engaged in international trade.
SC’s products mainly
include: aluminum sheet, steel pipe, etc.
SC sources its materials 100% from domestic
market. SC sells 30% in domestic market, and 70% of its products to overseas
market, mainly European and American countries.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
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 Nanhai Guicheng Rural Credit Cooperatives
AC#：0301012040007529
Relationship:
Normal.
Balance Sheet
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Unit: CNY’000 |
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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Cash & bank |
147,232 |
----- |
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Inventory |
0 |
----- |
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Accounts
receivable |
15,004 |
----- |
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Export tax
refund receivable |
8,129 |
----- |
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Advances to
supplies |
0 |
----- |
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Other accounts
receivable |
-67,504 |
----- |
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Other current
assets |
6 |
----- |
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------------------ |
------------------ |
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Current assets |
102,867 |
----- |
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Fixed assets net
value |
252 |
----- |
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Projects under
construction |
0 |
----- |
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Long-term
investments |
0 |
----- |
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Intangible
assets |
0 |
----- |
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Other assets |
74 |
----- |
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------------------ |
------------------ |
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Total assets |
103,193 |
71,373 |
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============= |
============= |
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Short loans |
71,091 |
----- |
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Accounts payable |
-8,833 |
----- |
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Advances from
customers |
0 |
----- |
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Taxes payable |
62 |
----- |
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Other accounts
payable |
39,312 |
----- |
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Other
current liabilities |
48 |
----- |
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----------------- |
----------------- |
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Current
liabilities |
101,680 |
----- |
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Long term
liabilities |
0 |
----- |
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Other
liabilities |
0 |
----- |
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------------------ |
------------------ |
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Total
liabilities |
101,680 |
69,930 |
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Shareholders
equities |
1,513 |
1,443 |
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------------------ |
------------------ |
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Total
liabilities & equities |
103,193 |
71,373 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
as
of Dec. 31, 2008 |
as
of Dec. 31, 2009 |
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Turnover |
463,019 |
412,854 |
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Cost of goods sold |
452,754 |
----- |
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Tax and associate charge |
35 |
----- |
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Sales expense |
2,098 |
----- |
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Management expense |
1,342 |
----- |
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Finance expense |
7,294 |
----- |
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Other profits |
617 |
----- |
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Non-operating
income |
308 |
----- |
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Non-operating expense |
13 |
----- |
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Profit before
tax |
408 |
516 |
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Less: profit tax |
/ |
129 |
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Profits |
/ |
387 |
Note: SC’s detailed financial reports for
Yr2009 and Yr 2010 are not available now.
Important Ratios
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as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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*Current ratio |
1.01 |
/ |
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*Quick ratio |
1.01 |
/ |
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*Liabilities
to assets |
0.99 |
0.98 |
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*Net profit
margin (%) |
/ |
0.09 |
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*Return on
total assets (%) |
/ |
0.54 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
12 days |
/ |
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*Turnover/Total
assets |
4.49 |
5.78 |
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* Cost of
goods sold/Turnover |
0.98 |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line,
but it decreased in 2009.
l
SC’s net profit margin is average in 2009.
l
SC’s return on total assets is average in 2009.
l
SC’s cost of goods sold is high, comparing with its
turnover in 2008.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2008.
l
SC’s quick ratio is maintained in a normal level in
2008.
l
SC has no inventory in 2008.
l
The accounts receivable of SC is maintained in an
average level in 2008.
l
The short-term loan of SC appears large in 2008.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high in both 2 years.
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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. A credit line up to USD 10,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.17 |
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.