MIRA INFORM REPORT
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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANTOU GOLDEN DC TRADING CO., LTD. |
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Registered Office : |
Room 702, No. 28 Haibin Road, Shantou City,
Guangdong Province 515041 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.09.2001 |
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Com. Reg. No.: |
440500000004726 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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No. of Employees
: |
13 |
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 100,000 |
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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) |
|
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
shantou golden DC Trading co., ltd.
(Trade NAME: golden
dc (hk) trading ltd.)
room 702, no. 28
haibin road, shantou city
guangdong province
515041 PR CHINA
TEL: 86 (0)
754-88873722/88862733
FAX: 86 (0)
754-88895428
EXECUTIVE SUMMARY
Date of Registration : september 11, 2001
REGISTRATION NO. : 440500000004726
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 8,000,000
staff : 13
BUSINESS CATEGORY :
trading
Revenue : CNY 198,060,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 13,420,000 (AS OF
DEC. 31, 2011)
WEBSITE : www.goldendc.com.cn
E-MAIL :
DC2605@163.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD 100,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
fairly STEADY
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 name should be the above stated one,
GOLDEN DC (HK) TRADING LTD. (the given name) is SC’s related company registered
in Hong Kong, and however, SC always uses this name as its trade name.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 440500000004726 on september 11, 2001.
SC’s Organization Code Certificate No.:
73214156-2
SC’s registered capital: cny 8,000,000
SC’s paid-in capital: cny 8,000,000
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 |
|
Chen Weibo |
70 |
|
Xu Juyin |
10 |
|
Chen Yinqin |
10 |
|
Chen Yinsheng |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Chen Weibo |
|
Director/Supervisor |
Xu Juyin |
|
Chen Yinqin |
|
|
Chen Yinsheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Chen Weibo 70
Xu Juyin 10
Chen Yinqin 10
Chen Yinsheng 10
MANAGEMENT
Chen Weibo, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 57
Ø
ID# 44050419550512201X
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director/Supervisor
-------------------------
Xu Juyin
Chen Yinqin
Chen Yinsheng
BUSINESS OPERATION
SC’s registered business scope includes selling chemical
raw materials, chemical products, building materials, telephone communication
equipment, auto parts, hardware, department stores, arts and crafts, computer
and accessories; importing and exporting goods and technology.
SC is
mainly engaged in international trade.
SC’s products mainly include:
corn starch, chemical products, such as styrene, phthalic anhydride, glycol,
propylene glycol, maleic anhydride, etc.
SC sources its materials 100% from domestic
market, mainly Jilin. SC sells 20% of its products in domestic market, and 80%
to overseas market.
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 Supplier:
=============
Changchun Dacheng
Industrial Group Company Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 13
staff at present.
SC rents an area
as its operating office of approx. 100 sq. meters at the heading address.
RELATED
COMPANY
n
Golden
Dc (HK) Trading Limited
----------------------------------------------
Date of Registration: January 8, 2010
Registration No.: 1409601
Legal Form: Private
Status: Live
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’s suppliers
declined to make any comments.
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 |
|
2,220 |
1,530 |
|
|
Accounts
receivable |
2,740 |
1,690 |
|
Advances to
suppliers |
13,120 |
7,170 |
|
Other receivable |
0 |
0 |
|
Inventory |
1,290 |
330 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
10 |
3,230 |
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|
------------------ |
------------------ |
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Current assets |
19,380 |
13,950 |
|
Fixed assets |
600 |
590 |
|
Construction in
progress |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
19,980 |
14,540 |
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============= |
============= |
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Short-term loans |
12,450 |
12,450 |
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Notes payable |
0 |
0 |
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Accounts payable |
-19,080 |
-11,430 |
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Taxes payable |
150 |
170 |
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Advances from
clients |
0 |
0 |
|
Other payable |
-530 |
-70 |
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Other current
liabilities |
14,500 |
0 |
|
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------------------ |
------------------ |
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Current
liabilities |
7,490 |
1,120 |
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Non-current
liabilities |
0 |
0 |
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|
------------------ |
------------------ |
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Total
liabilities |
7,490 |
1,120 |
|
Equities |
12,490 |
13,420 |
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|
------------------ |
------------------ |
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Total
liabilities & equities |
19,980 |
14,540 |
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|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
198,060 |
|
Cost of sales |
189,950 |
|
Sales expense |
5,260 |
|
Management expense |
90 |
|
Finance expense |
580 |
|
Profit before
tax |
1,230 |
|
Less: profit tax |
300 |
|
930 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
*Current ratio |
2.59 |
12.46 |
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*Quick ratio |
2.42 |
12.16 |
|
*Liabilities
to assets |
0.37 |
0.08 |
|
*Net profit
margin (%) |
-- |
0.47 |
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*Return on
total assets (%) |
-- |
6.40 |
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*Inventory /
Revenue ×365 |
-- |
1 day |
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*Accounts
receivable/ Revenue ×365 |
-- |
4 days |
|
*
Revenue/Total assets |
-- |
13.62 |
|
* Cost of
sales / Revenue |
-- |
0.96 |
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 fairly good in 2011.
l
SC’s cost of sales is fairly high, comparing with
its revenue.
LIQUIDITY:
FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly
good level in both years.
l
SC’s quick ratio is maintained in a fairly good
level in both years.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
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 low.
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. The large amount of short-term loans
may be a threat to SC’s financial condition. A credit line up to USD 100,000 is
recommended upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.77.79 |
|
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 |
|
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 |
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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.