MIRA
INFORM REPORT
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Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGYIN ANJI RUBBER SALES CO., LTD. |
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Registered Office : |
Room 1101, No. 168, South Hongqiao Road, Chengjiang Town, Jiangyin, Jiangsu Province, 214421 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.04.2005 |
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Com. Reg. No.: |
320281000128632 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Automobile Tire |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRAs 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 20,000 |
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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
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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 and address
JIANGYIN ANJI
RUBBER SALES CO., LTD.
ROOM 1101, NO. 168, SOUTH HONGQIAO ROAD,
CHENGJIANG TOWN,
JIANGYIN, JIANGSU PROVINCE, 214421 PR CHINA
TEL: 86 (0) 510-86278883/80612683 FAX: 86 (0) 510-86278885
EXECUTIVE SUMMARY
INCORPORATION DATE :
APR. 5, 2005
REGISTRATION NO. :
320281000128632
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. LIU YANMING (CHAIRMAN)
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 55,717,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 3,350,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.29 = 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
Note: The accurate name of SC should be the heading one,
instead of the given one (Jiamgyin Anji Rubber Sales Co Ltd.).
SC is also known as Jiangyin Anjitire Rubber Sales Co., Ltd.
SC was registered as a Limited liabilities co. at local Administration for Industry &
Commerce (AIC - The official body of issuing and renewing business license) on
Apr. 5, 2005.
Company Status: Limited Liabilities Co. 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.
SCs registered
business scope includes selling automobile tire, rubber & its products,
plastics & its products, other chemicals (excluding hazardous chemicals),
wood materials, wood products, textile materials, metal material, metal
products and other mechanical equipment; importing and exporting commodities
and technologies, excluding items limited or forbidden by State; (with permit
if needed).
SC is mainly engaged in selling automobile tire.
Mr. Liu
Yanming has been legal representative,
chairman and general manager of SC since May of 2011.
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 Jiangyin. But the detailed
information about the premise is unspecific.
http://www.anjitread.com
the design is professional and the content is well organized. At present it is
both in Chinese and English versions.
E-mail: web@anjitread.com
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
|
2009-04-22 |
Shareholders
name |
Jiangyin Bedspread Factory |
Jiangyin Hongliu Bedspread Manufacturer Co., Ltd. |
|
2011-05-27 |
Legal
representative |
Huang Jianjun |
The preset one |
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Registered
capital |
CNY 5,180,000 |
The present amount |
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Shareholders |
Jiangyin Hongliu Bedspread Manufacturer Co., Ltd. 13.13% Jiangyin Anji Rubber Industrial Co., Ltd. 86.87% |
The present ones |
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|
Unknown |
Registration no. |
3202812125369 |
The present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Zhongbao 3
Fu Fudi 21
Liu Yanming 73
Zhang Haoxing 3
l
Legal representative, chairman and
general manager:
Mr. Liu Yanming, ID# 320219195910246519, born in 1959. He is currently
responsible for the overall management of SC.
Working Experience(s):
From May of 2011 to present Working in SC as legal representative, chairman and
general manager;
Also working in Jiangyin Anji Rubber Industrial Co.,
Ltd. and Jiangyin Anji Investment Co., Ltd. as legal representative.
l
Supervisor:
Fu Fudi ID#
320219195208148046
SC is mainly
engaged in selling automobile tire.
SCs products
mainly include: rubber tire, etc.
SC sources its materials 100% from domestic
market. SC sells 60% of its products in domestic market, and 40% to overseas
market.
The buying terms of SC include Check, T/T, and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused
to release its major suppliers and customers.
Jiangyin Anji Investment Co., Ltd.
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.
We could not
find the bank information on SC in local AIC.
Financial Summary
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Unit: CNY 000 |
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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Total liabilities |
66,874 |
611 |
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Shareholders equities |
3,498 |
3,350 |
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--------------- |
--------------- |
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Total assets |
70,372 |
3,961 |
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========== |
========== |
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Turnover |
38,066 |
55,717 |
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Profit before tax |
0.5 |
/ |
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Less: Profit tax |
0.47 |
/ |
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Net profit |
0.03 |
/ |
Note: we did not find SCs detailed
financial reports at local AIC for Yr2009 and 2010.
Important Ratios
===============
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as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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*Liabilities
to assets |
0.95 |
0.15 |
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*Net profit
margin (%) |
0.00008 |
/ |
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*Return on
total assets (%) |
0.00004 |
/ |
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*Turnover/Total
assets |
0.54 |
14.07 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SCs net profit margin appears average in 2009.
l
SCs return on total assets appears average in
2009.
l
SCs turnover is in a fair level in 2009 and in a
good level in 2010, comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is high in 2009 but low in
2010.
l
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 20,000 would appear to be within SCs
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
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|
1 |
Rs.82.87 |
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Euro |
1 |
Rs.69.13 |
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 SCs 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.