MIRA
INFORM REPORT
|
Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
guangzhou metals & minerals imp. & exp. ltd. |
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Registered Office : |
21/F, Jinxin Building, No. 691, North Renmin Road, Guangzhou City
uangdong Province 510180 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.09.1986 |
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Com. Reg. No.: |
440101000071634 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Importing and exporting hardware and minerals. |
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No. of Employees : |
45 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
usd 10,000 |
|
Status : |
Moderate |
|
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 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name and address
guangzhou metals & minerals imp. & exp. ltd.
21/F, JINXIN BUILDING, NO. 691, NORTH RENMIN
ROAD, GUANGZHOU CITY
GUANGDONG PROVINCE 510180 PR CHINA
TEL: 86 (0)
20-81082026/81084751 FAX: 86 (0)
20-81082408
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 24, 1986
REGISTRATION NO. : 440101000071634
REGISTERED LEGAL
FORM : One-person limited liability
company
CHIEF EXECUTIVE :
Ms. lin XIAOHUA (chairman)
STAFF STRENGTH :
45
REGISTERED CAPITAL : cny 3,500,000
BUSINESS LINE :
trading
TURNOVER :
cny 543,608,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 1,440,000 (AS OF DEC. 31, 2010)
PAYMENT :
average
RECOMM. CREDIT RANGE : UP TO usd 10,000 (PERIODICAL REVIEW)
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.32 = 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 Ren Min Bi
SC was registered as a One-person Limited Liability Company
at local Administration for Industry & Commerce (AIC-The official body of
issuing and renewing business license).
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted to
invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The
regulation of Single person LLC has no shareholder meeting. The shareholders of this form
of limited liabilities company are State-owned Assets Supervision and
Administration Commission authorized by the State Council or local
Municipal Government. The regulation is set up by
State-owned Assets Supervision and Administration Commission, or by the
board of directors after approval of State-owned Assets Supervision and
Administration Commission. Sole state-owned enterprise
does not set up board of shareholders, which is replaced by State-owned
Assets Supervision and Administration Commission. State-owned Assets Supervision
and Administration Commission assign the board of directors.
SC’s registered
business scope includes importing and exporting metal products and materials,
non-golden mine, industrial agricultural implements, feedstuff, native materials
used for industry, animal products, textiles, textile fibers, cotton waste,
knit goods, garment, light industry products, porcelain, handicrafts, chemical,
plastic and rubber products, transportation tools, machinery, apparatus and
instruments; import and export of the above products; carrying trade, storage
and Free Trade business. Affecting Chinese foreign equity joint venture
enterprise and Chinese foreign contractual joint venture enterprise; processing
with imported materials, processing with imported samples, assembling with
imported parts, and compensation trade in agreement.
SC is mainly
engaged in importing and exporting hardware and minerals.
Ms. Lin
Xiaohua has been chairman of SC since
2010.
SC is known
to have approx. 45 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Guangzhou. Our checks reveal that SC
owns the total premise about 1,400 square meters.
SC is not known to host website of its own at present.
E-mail: Export2@gzmmie.com Import@gzmmie.com
From 1993, SC has been listed in "The Top 500 Chinese Import &
Export Enterprises".
In 2001, it got certificate of ISO 9001:2000 international quality
control system.
Since 2002, it was awarded as the enterprise "Abiding by the
contract and keeping promises" for successive five years by the Industrial
and Commercial Administrative Management Department.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
|
Legal rep. |
Zhu Guoshu |
|
|
|
Registered capital |
CNY 3,500,000 |
CNY 3,000,000 |
|
|
Legal rep. |
|
Ling Suilin |
|
|
Legal rep. |
Ling Suilin |
Present one |
|
Registration no. |
4401011102414 |
Present one |
|
|
Legal form |
Sole state-owned
enterprise |
Present one |
|
|
|
Registered capital |
CNY 3,000,000 |
Present amount |
|
Shareholders |
Guangzhou Light
Industry & Trade Group Co., Ltd. |
Guangzhou Light Holdings
Limited |
MAIN SHAREHOLDERS:
Name % of
Shareholding
Guangzhou Light Holdings Limited 100
Founded in 1956, as one of the forerunners of Import & Export Companies
in China, Guangzhou Light Holdings Limited (GZLI) is experienced in import and
export trade, domestic distribution, OEM & ODM manufacturing as well as
transportation, warehousing and advertising. Guangzhou Light Holdings Limited
mainly imports and exports light industrial products, textiles, arts and
crafts, metals and minerals, chemical and machinery etc. And it also deals with
transportation, storage and duty-protected business, advertising and packing
business and so on.
Note: The said co. was formerly known as Guangzhou Light Industrial
Products Import & Export (Group) Corporation
Tel:
(020)83337522
Fax:
(020)83337697
Address: No. 87, the Bund Guangzhou
Website: http://www.gzli.com/
E-mail: gzli@gzli.com
l
Legal representative and Chairman:
Ms. Lin Xiaohua , ID# 440106196303061840, born in 1963, she is currently
responsible for the overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as
legal representative and chairman
SC is mainly
engaged in importing and exporting hardware and minerals.
SC’s products mainly include: bathroom
equipment, sanitary fittings, battery, hardware, building material, metal
materials and mineral products, etc.
SC sources its materials 30% from domestic market, and 70% from overseas market, mainly Hong Kong; SC sells its products 90% to overseas market, mainly European countries, and 10% in domestic market, mainly Guangdong province.
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.
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 records 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.
Bank of China
Guangzhou Branch Yanjiang Sub-branch
AC#：00013308091001
Relationship:
Normal.
Bank of China
Guangzhou Zhujiang Sub-branch
USD AC#：802000013308095014
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
|
Cash & bank |
23,275 |
21,185 |
|
Inventory |
18,355 |
30,832 |
|
Accounts
receivable |
27,281 |
15,790 |
|
Other Accounts
receivable |
12,766 |
12,720 |
|
Advances to
suppliers |
6,044 |
21,061 |
|
Export tax
rebate |
7,558 |
16,695 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
95,279 |
118,283 |
|
Fixed assets net
value |
1,261 |
768 |
|
Long term
investment |
2,000 |
2,000 |
|
Disposal of
fixed assets |
-8,064 |
0 |
|
Deferred income tax
assets |
135 |
113 |
|
Intangible
assets |
0 |
44 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
90,611 |
121,208 |
|
|
============= |
============= |
|
Short loans |
8,625 |
11,131 |
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Accounts payable |
33,807 |
28,089 |
|
Advances from
clients |
31,033 |
60,501 |
|
Other Accounts
payable |
15,453 |
18,072 |
|
Taxes unpaid |
770 |
1,828 |
|
Other current
liabilities |
54 |
147 |
|
|
------------------ |
------------------ |
|
Current liabilities |
89,742 |
119,768 |
|
Long term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
89,742 |
119,768 |
|
Equities |
869 |
1,440 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
90,611 |
121,208 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2010 |
|
Turnover |
543,608 |
|
Cost of goods
sold |
533,201 |
|
Tax and
additional of main operations |
50 |
|
Sales expense |
8,079 |
|
Management expense |
7,079 |
|
Finance expense |
-1,292 |
|
Income from
other operations |
6,972 |
|
Non-operating income |
46 |
|
Non-operating expense |
0 |
|
Other expenses |
201 |
|
Profit before
tax |
3,308 |
|
Less: profit tax |
1,993 |
|
Profits |
1,315 |
Important Ratios
=============
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
*Current ratio |
1.06 |
0.99 |
|
*Quick ratio |
0.86 |
0.73 |
|
*Liabilities
to assets |
0.99 |
0.99 |
|
*Net profit
margin (%) |
/ |
0.24 |
|
*Return on total
assets (%) |
/ |
1.08 |
|
*Inventory
/Turnover ×365 |
/ |
21 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
11 days |
|
*Turnover/Total
assets |
/ |
4.48 |
|
* Cost of
goods sold/Turnover |
/ |
0.98 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is high, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level in
2009 but fair in 2010.
l
The inventory of SC appears average in both two
years.
l
The accounts receivable of SC is maintained in an
average level in both two years.
l
The short-term loan of SC appears fairly large in
both two years.
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.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with favorable background and
fairly stable financial conditions. The large amount of short loans could be a
threat to SC’s financial condition. A credit line up to USD 10,000 would appear
to be within SC’s capacities upon a periodical review bases.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.33 |
|
|
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.31 |
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.