MIRA
INFORM REPORT
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Report Date : |
06.06.2012 |
IDENTIFICATION DETAILS
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Name : |
OKQUICK INTERNATIONAL TRADING CO., LTD. |
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Registered Office : |
A205, Hanhaitongda, No. 75, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.10.2006 |
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Com. Reg. No.: |
110105009968285 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Subject is
engaged in acting as an agent for importing and exporting business |
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No. of Employees : |
05 |
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 : |
Unknown |
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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 & address
OKQUICK INTERNATIONAL TRADING Co., Ltd.
A205, Hanhaitongda,
No. 75, Nanyuan Road, Fengtai District
Beijing PR CHINA
TEL: 86 (0)
10-67265953 FAX: 86 (0) 10-67265953
EXECUTIVE SUMMARY
INCORPORATION DATE : OCTOBER 17, 2006
REGISTRATION NO. : 110105009968285
REGISTERED LEGAL FORM :
LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL : CNY 1,500,000
BUSINESS LINE :
TRADE AGENT
TURNOVER :
CNY 300,000 (UNAUDITED, AS OF DEC. 31, 2010)
EQUITIES :
CNY 1,350,000 (UNAUDITED, AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : fair
OPERATIONAL TREND :
fairLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = 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 given address was SC’s former one. The given fax number 86 010-87952137-806 was the former fax number of SC. The given mobile phone 13811824461 belongs to SC’s former general manager Mr. Zhou Wenguo.
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on October 17, 2006.
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 importing and exporting goods and technology; organizing
cultural and artistic exchanges; economic trading consultation; exhibition
services.
SC is mainly
engaged in acting as an agent for importing and exporting business.
Ms. Guo Guilan has been legal rep., chairman and general manager of SC since 2010.
SC is known to
have approx. 5 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Beijing. Our
checks reveal that SC rents the total premise about 160 square meters.
http://www.okquick.cn The design is
professional and the content is well organized. At present the web site is both
in Chinese and English versions.
E-mail: okquick@sogou.com
Changes of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
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|
Legal
rep., chairman and general manager |
Xie
Gang |
Zhou
Wenguo |
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Registered
capital |
CNY
700,000 |
CNY
1,500,000 |
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|
Unknown |
Registration No. |
1101052996828 |
110105009968285 |
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Shareholders |
Xie
Gang 66.7% Hao Jinzhe 33.3% |
Zhou Wenguo
53.34% Xie Gang 33.33% Hao
Jinzhe 13.33% |
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|
2010 |
Legal
rep. |
Zhou
Wenguo |
Present one |
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Shareholders
|
Zhou Wenguo
53.34% Xie Gang 33.33% Hao
Jinzhe 13.33% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guo Guilan 53.34
Xie Gang (ID#110104197409252018) 33.33
Hao Jinzhe
(ID#110105197204162189) 13.33
Legal Rep.,
Chairman and General Manager:
Ms. Guo Guilan in her
Working
Experience(s):
From 2010 to present Working in SC as legal rep., chairman and general manager.
SC is mainly
engaged in acting as an agent for importing and exporting business.
SC’s products
mainly include:
Hard Disk
Solar Water Heater
Diosmectite (Dioctahedral Smectite)
Solid Window/Door Shutter Series
PR series Rasper
MC series Multicyclone
VF series Vacuum Filter
FD Series Flash Dryer
SC sources its materials 50%
from domestic market, and 50% from overseas market, mainly U.S.A. and Holland.
SC sells 50% of its products in domestic market, and 50% to overseas market,
mainly Canada and Japan.
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.
Note: SC’s management declined to release its main clients and
suppliers.
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 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 Beijing Branch Jinsong Office
AC# 802219825708091001
Relationship:
Normal.
Balance Sheet
|
Unit: CNY’000 |
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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Cash & bank |
1,130 |
1,350 |
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Inventory |
0 |
0 |
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Accounts
receivable |
0 |
0 |
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Other Accounts
receivable |
0 |
0 |
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Advances to
suppliers |
510 |
410 |
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To be
apportioned expense |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
1,640 |
1,760 |
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Fixed assets net
value |
50 |
40 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
1,690 |
1,800 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
100 |
-30 |
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Other Accounts
payable |
20 |
0 |
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Advances from
clients |
170 |
480 |
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Withdraw the
expenses in advance |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current liabilities |
290 |
450 |
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Long term
liabilities |
0 |
0 |
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Other
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
290 |
450 |
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Equities |
1,400 |
1,350 |
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------------------ |
------------------ |
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Total liabilities
& equities |
1,690 |
1,800 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
as of Dec. 31,
2010 |
|
Turnover |
300 |
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Cost of goods
sold |
0 |
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Sales expense |
160 |
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Management expense |
160 |
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Finance expense |
0 |
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Profit before
tax |
-50 |
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Less: profit tax |
0 |
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Profits |
-50 |
Note: SC’s financial statements for Year 2010 have not been audited.
Important
Ratios
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|
2009 |
2010 |
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*Current ratio |
5.66 |
3.91 |
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*Quick ratio |
5.66 |
3.91 |
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*Liabilities
to assets |
0.17 |
0.25 |
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*Net profit
margin (%) |
/ |
-16.67 |
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*Return on
total assets (%) |
/ |
-2.78 |
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*Inventory
/Turnover ×365 |
/ |
0 |
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*Accounts
receivable/Turnover ×365 |
/ |
0 |
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*Turnover/Total
assets |
/ |
0.17 |
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* Cost of
goods sold/Turnover |
/ |
0 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fair in 2010.
l
SC’s net profit margin is poor in 2010.
l
SC’s return on total assets is fair in 2010.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
SC has no inventory in both years.
l
SC has no accounts receivable in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a poor level in 2010, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.56 |
|
UK Pound |
1 |
Rs.85.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.