MIRA INFORM REPORT
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Report Date : |
21.07.2012 |
IDENTIFICATION DETAILS
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Name : |
XICHUAN
XINDA CONDIMENT CO., LTD. |
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Registered Office : |
Xianghua Industiral Zone, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.09.2007 |
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Com. Reg. No.: |
411326100000033 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Includes
processing and selling chili products, mushrooms, edible fungus, edible fungi |
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No. of Employees : |
85 |
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
|
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
XICHUAN XINDA CONDIMENT CO., LTD.
xianghua
industiral zone, xichuan county, nanyang
henan
PROVINCE 474465 PR CHINA
TEL: 86 (0)
377-69522777/13838983818/18736693294
FAX: 86
(0) 377-63124888
EXECUTIVE SUMMARY
Date of Registration : september 21, 2007
REGISTRATION NO. : 411326100000033
LEGAL FORM :
Limited liabilities company
REGISTERED CAPITAL : cny 20,000,000
staff : 85
BUSINESS CATEGORY : processing
Revenue : CNY 50,370,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 45,040,000 (AS OF DEC. 31, 2011)
WEBSITE : www.hnxinda.jqw.com
E-MAIL : xcxinda@gmail.com
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.37 = 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.: 411326100000033 on
September 21, 2007.
SC’s Organization Code Certificate
No.: 66720344-7
SC’s Tax No.: 411326667203447
SC’s registered capital: cny 20,000,000
SC’s paid-in capital: cny 20,000,000
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 |
|
Zhou Zhiming |
67.5 |
|
Zhang Yuanchao |
32.5 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhou
Zhiming |
|
Supervisor |
Zhang Yuanchao |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zhou Zhiming
67.5
Zhang Yuanchao
32.5
MANAGEMENT
Zhou
Zhiming, Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification: University
Ø
Working experience (s):
From 2007 to present, working in SC as legal
representative, chairman and general manager
Zhang
Yuanchao, Supervisor
-------------------------------------------------
Ø
Gender: M
Ø
Qualification: University
BUSINESS OPERATION
SC’s registered business scope
includes processing and selling chili products, mushrooms, edible
fungus, edible fungi and other agricultural products; international trade, in
accordance with the license.
SC is mainly
engaged in processing and selling condiment.
SC’s
products mainly include:
Dried
Mushroom
Dried
Red Chili Powder
Peanut
& Garlic & Spices
Chilli
Slice
Dried
Red Chili
Dried
Chilli Flakes
Chilli
Crush
Dried
Chili Powder
Chili
Crush
Etc.
SC sources its materials 100% from domestic market, mainly Henan. SC sells 10% of its products in domestic market, and 90% to overseas market, mainly U.S.A., EU, Southeast Asia market, etc.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 85
staff at present.
SC
rents an area as its operating office & factory of approx. 13,300 sq. meters
at the heading address.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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 Nanyang Branch
AC#: 628545025438094014 (USD)
FINANCIALS
Financial
Summary
|
Unit:
CNY’000 |
As of Dec. 31, 2011 |
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Long term investment |
0 |
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Total
assets |
61,680 |
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------------- |
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Long term liabilities |
0 |
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Total
liabilities |
16,640 |
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Equities |
45,040 |
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------------- |
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Revenue |
50,370 |
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Profit
before tax |
11,340 |
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Less:
profit tax |
2,840 |
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Profits |
8,500 |
Note: The detailed financials for Y2011 are not available in
SAIC.
Important
Ratios
=============
|
|
As of Dec. 31, 2011 |
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*Liabilities
to assets |
0.27 |
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*Net
profit margin (%) |
16.88 |
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*Return
on total assets (%) |
13.78 |
|
* Revenue/Total
assets |
0.82 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears average in
its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly
good.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an average 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
UK Pound |
1 |
Rs.86.57 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
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 |
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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.