MIRA
INFORM REPORT
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Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SHOUGUANG GUIHE ECONOMIC AND TRADE CO., LTD. |
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Registered Office : |
West Of |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.05.2004 |
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Com. Reg. No.: |
370783228026369 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged
in selling wood products and vegetable. |
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No. of Employees : |
10 |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
|
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 |
Company name and address
SHOUGUANG
GUIHE ECONOMIC AND TRADE CO., LTD.
west of shengcheng street,
shouguang,
shandong province, 262700 PR CHINA
TEL: 86 (0) 536-5259685 FAX: 86 (0) 536-5217296
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 20, 2004
REGISTRATION NO. : 370783228026369
REGISTERED LEGAL FORM :
Limited liabilities company
STAFF STRENGTH : 10
REGISTERED CAPITAL :
CNY 1,200,000
BUSINESS LINE : TRADING
TURNOVER : CNY 41,820,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 1,320,000 (AS OF DEC. 31, 2011)
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : Fairly stable
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.3735 = usd
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: SC’s current operating address
should be the heading one, while the given address (No. 207 Wenmiao Street China
- 262700 Shouguang Shandong) was the former one.
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 May 20, 2004.
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.
SC’s
registered business scope includes selling textiles, wood products and chemical
products (excluding dangerous chemicals); frozen, dehydrated, and preservation:
fruits, vegetables; importing and exporting commodities and technology within
permit.
SC is
mainly engaged in selling wood products and vegetable.
Mr.
Tian Yushui is legal representative, chairman and general manager of SC at
present.
SC is
known to have approx. 10 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in Shouguang. SC’s employee refused to release the detailed
information of the premise.
http://www.chinaguihe.com/ The design is professional and the
content is well organized. At present, the web is in English version.
E-mail: sgtys@126.com
No significant events or changes were found during our
checks with local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Xianghui 83.33
Chang Lemei 16.67
l
Legal representative, chairman and
general manager:
Mr. Tian Yushui is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager.
Also working in Shouguang Tianye Foods Co., Ltd. as legal representative.
l
Supervisor:
Wang Xianghui
SC is
mainly engaged in selling wood products and vegetable.
SC’s products mainly include: wood products and vegetable.
SC sources its materials 100%
from domestic market. SC sells 100% of its products 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’s management refused to
release its supplier and client details.
Shouguang Tianye Foods Co., Ltd.
According to SC’s website:
-------------------------------
Guihe Wood Co., Ltd,
Tosho Foods 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.
SC
declined to release its banking details.
Balance
Sheet
Unit:
CNY’000
|
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As of Dec. 31, 2011 |
|
Cash
& bank |
610 |
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Inventory |
220 |
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Accounts
receivable |
-290 |
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Subsidy
receivable |
1,250 |
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Other
Accounts receivable |
-20 |
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Advances
to suppliers |
0 |
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To
be apportioned expense |
250 |
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Other
current assets |
0 |
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------------------ |
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Current
assets |
2,020 |
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Fixed
assets net value |
30 |
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Long-term
investment |
0 |
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Intangible
and other assets |
0 |
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------------------ |
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Total
assets |
2,050 |
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============= |
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Short
loans |
0 |
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Accounts
payable |
2,280 |
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Advance
from customers |
-1,050 |
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Other
Accounts payable |
0 |
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Notes
payable |
0 |
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Taxes
payable |
-500 |
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Other
current liabilities |
0 |
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------------------ |
|
730 |
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Long
term liabilities |
0 |
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------------------ |
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Total
liabilities |
730 |
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Equities |
1,320 |
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------------------ |
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2,050 |
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============= |
Income
Statement
Unit:
CNY’000
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As of Dec. 31, 2011 |
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Turnover |
41,820 |
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Cost of goods sold |
39,320 |
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Taxes and additional of main
operation |
6 |
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Sales expense |
2,070 |
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Management expense |
350 |
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Finance expense |
30 |
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Non-operating
income |
0 |
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Non-operating expense |
3 |
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Profit
before tax |
46 |
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Less:
profit tax |
12 |
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Profits |
34 |
Important
Ratios
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As of Dec. 31, 2011 |
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*Current
ratio |
2.77 |
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*Quick
ratio |
2.47 |
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*Liabilities
to assets |
0.36 |
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*Net
profit margin (%) |
0.08 |
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*Return
on total assets (%) |
1.66 |
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*Inventory
/Turnover ×365 |
2
days |
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*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
20.4 |
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*
Cost of goods sold/Turnover |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average 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 fairly 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.
l
The inventory of SC is maintained in an
average level.
l
SC has no short-term loan in 2011.
l
SC’s turnover is in a 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.
SC is considered small-sized in its line with fairly stable
financial conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.33 |
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|
1 |
Rs.86.55 |
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Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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 |
-- |
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.