MIRA
INFORM REPORT
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Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI FOREIGN TRADE ENTERPRISES PUDONG CO., LTD. |
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Formerly Known As : |
SHANGHAI FOREIGN TRADE ENTERPRISES CORP. PUDONG CO. |
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Registered Office : |
10-14/F, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.07.1992 |
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Com. Reg. No.: |
310115000002278 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Various Kinds of Commodities and Technology |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
sc’s INFO.
================
SHANGHAI FOREIGN TRADE ENTERPRISES PUDONG CO., LTD.
10-14/F, NO. 258-268 ZHAOJIABANG ROAD SHANGHAI 200031 PR
CHINA
TEL: 86 (0) 21-64333000
FAX: 86 (0) 21-64743340
EXECUTIVE SUMMARY
Date of Registration :
july 10, 1992
REGISTRATION NO. :
310115000002278
LEGAL FORM :
Limited liabilities company
CHIEF EXECUTIVE :
GAO WENWEI (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 10,000,000
staff :
120
BUSINESS CATEGORY : TRADING
Revenue :
CNY 1,842,203,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 28,629,000 (AS OF DEC. 31, 2010)
WEBSITE :
www.shforeign.com
E-MAIL : infor@shasft.com
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.31 = 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
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
310115000002278.
SC’s Organization Code Certificate No.: 13220753-X
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration
Change Record:
|
Date |
Change of
Contents |
Before the change |
After the change |
|
-- |
Registration No. |
3101151016674 |
310115000002278 |
|
Company Name |
Shanghai Foreign Trade Enterprises Corp. Pudong Co. |
Shanghai Foreign Trade Enterprises Pudong Co., Ltd. |
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|
Legal Form |
One-person Limited Liability Company |
Limited Liabilities Company |
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|
Legal Representative |
Xia Dazhi |
Sun Dunming |
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|
Legal Representative |
Sun Dunming |
Xia Xiping |
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|
Legal Representative |
Xia Xiping |
Gao Wenwei |
Current Co search
indicates SC’s shareholders & chief executives are as follows:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Shanghai Foreign Trade Enterprises Co., Ltd. |
50.00 |
|
Sun Dunming |
5.01 |
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Zhang Yan |
3.13 |
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Chen Ruilin |
2.51 |
|
Pan Wei |
2.51 |
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Xu Jianhua |
2.51 |
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Huang Chamei |
2.00 |
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Tang Bin |
2.00 |
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Sang Xiaping |
2.00 |
|
Xue Yanming |
2.00 |
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Other 40 individuals |
26.33 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Gao Wenwei 高文伟 |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shanghai Foreign Trade Enterprises Co., Ltd. 50.00
Sun Dunming 5.01
Zhang Yan 3.13
Chen Ruilin 2.51
Pan Wei 2.51
Xu Jianhua 2.51
Huang Chamei 2.00
Tang Bin 2.00
Sang Xiaping 2.00
Xue Yanming 2.00
Other 40 individuals 26.33
Shanghai Foreign Trade Enterprises Co., Ltd.
================================
Registration No.: 310104000019293
Establishment Date: March 1, 1988
Chief Executive: Gao Wenwei
Registered Capital: CNY 26,400,000
Add: 14/F, No. 258-268 Zhaojiabang Road, Shanghai
Tel: 86-21-64333000
Fax: 86-21-64373111
Website: www.shforeign.com
Email: infor@shasft.com
MANAGEMENT
Gao Wenwei, Legal Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
From 2010 to present Working
in SC as legal representative and chairman
Also working in Shanghai Foreign Trade Enterprises Co., Ltd. and
Shanghai East Best Foreign Trade Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting various
kinds of commodities and technology, processing with imported materials,
processing with imported samples, assembling with imported parts, and
compensation trade in agreement; counter trade &
transit trade, economic and trade consulting, domestic trade, enterprise
registration agent.
SC is mainly engaged in international trade.
SC’s products mainly include: cars, toy head pen or pencil, decoration,
gift wrapping, toys, and etc.
SC sources its materials 90% from domestic market, and 10% from overseas
markets. SC sells 10% of its products in domestic market, and 90% to overseas
market, mainly Europe and America.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 120 staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
RELATED COMPANY
According to the
above website:
Shanghai East Best Foreign Trade Co., Ltd.
Shanghai World Expo (Group) Co., Ltd.
Shanghai East Best International Service Trade (Group) Co., Ltd.
Shanghai East Best International Business Development Co., Ltd.
Etc.
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
Basic Bank:
Bank of China Shanghai Branch
AC#: 044036800100694008091001
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
372,677 |
124,014 |
|
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Accounts receivable |
13,133 |
21,310 |
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Advances to suppliers |
126,907 |
189,150 |
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Other receivable |
124,055 |
143,015 |
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Inventory |
132,789 |
197,253 |
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Prepaid expenses |
0 |
0 |
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Other current assets |
0 |
0 |
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|
------------------ |
------------------ |
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Current assets |
769,561 |
674,742 |
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Financial assets available for sale |
85 |
0 |
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Fixed assets |
1,593 |
1,507 |
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Construction in progress |
0 |
0 |
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Intangible assets |
0 |
0 |
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Long-term investment |
0 |
0 |
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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 |
771,239 |
676,249 |
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============= |
============= |
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Short-term loans |
346,924 |
65,223 |
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Notes payable |
0 |
0 |
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Accounts payable |
123,303 |
160,055 |
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Accrued payroll |
325 |
0 |
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Welfare payable |
0 |
0 |
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Taxes payable |
-18,760 |
-31,363 |
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Advances from clients |
262,054 |
370,074 |
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Other payable |
25,569 |
83,631 |
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Other current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current liabilities |
739,415 |
647,620 |
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Non-current liabilities |
0 |
0 |
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|
------------------ |
------------------ |
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Total liabilities |
739,415 |
647,620 |
|
Equities |
31,824 |
28,629 |
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|
------------------ |
------------------ |
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Total liabilities & equities |
771,239 |
676,249 |
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|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Revenue |
1,553,535 |
1,842,203 |
|
Cost of sales |
1,476,395 |
1,730,187 |
|
Taxes and surcharges |
0 |
0 |
|
Sales expense |
55,370 |
85,751 |
|
Management expense |
10,402 |
11,200 |
|
Finance expense |
-11,744 |
-5,716 |
|
Non-business income |
22 |
0 |
|
Non-business expense |
0 |
172 |
|
Investment income |
956 |
233 |
|
Profit before tax |
24,755 |
16,983 |
|
Less: profit tax |
5,082 |
3,981 |
|
19,673 |
13,002 |
Important Ratios
|
|
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
|
*Current ratio |
1.04 |
1.04 |
|
*Quick ratio |
0.86 |
0.74 |
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*Liabilities to assets |
0.96 |
0.96 |
|
*Net profit margin (%) |
1.27 |
0.71 |
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*Return on total assets (%) |
2.55 |
1.92 |
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*Inventory / Revenue ×365 |
32 days |
40 days |
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*Accounts receivable/ Revenue ×365 |
4 days |
5 days |
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* Revenue/Total assets |
2.01 |
2.72 |
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* Cost of sales / Revenue |
0.95 |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good, and it was rising in 2010.
SC’s net profit margin is average in both years.
SC’s return on total assets is average in both years.
SC’s cost of goods sold is high, comparing with its revenue.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a normal level in both years.
SC’s quick ratio is maintained in a fair level in both years.
The inventory of SC appears fairly large.
The accounts receivable of SC is maintained in an average level.
SC’s short-term loans are in an average level.
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is high in both years.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial conditions.
The fairly large amount of inventory may be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.55 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
---- |
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.