MIRA
INFORM REPORT
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Report Date : |
07.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN MAPS INDUSTRY CO., LTD. |
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Registered Office : |
1/F, Block 17, Area A, Baosheng Industrial Zone,
Bainikeng, Pinghu Town, Longgang District, Shenzhen, Guangdong Province 518111 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.05.2007 |
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Com. Reg. No.: |
440307102947676 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling sofa production special equipment |
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No. of Employees : |
15 |
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 : |
Small Company |
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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 & address
SHENZHEN MAPS INDUSTRY CO., LTD.
1/F, BLOCK 17, AREA
A, BAOSHENG INDUSTRIAL ZONE, BAINIKENG,
PINGHU TOWN, LONGGANG DISTRICT, SHENZHEN,
GUANGDONG PROVINCE
518111 PR CHINA
TEL: 86 (0)
755-84663558/84662255 FAX: 86 (0)
755-84663585
EXECUTIVE SUMMARY
INCORPORATION DATE : may 11, 2007
REGISTRATION NO. : 440307102947676
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 15
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 3,580,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 190,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : fair
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.33=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
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 May 11, 2007.
Company Status: Limited
Liability Company 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 sofa leather
processor series, chassis and rack (electronic components), hardware
accessories production, technology development and sales; import and export of goods
and technology (with permit if needed).
SC is
mainly engaged in manufacturing and selling sofa production special equipment.
Ms.
Cai Liangying has been the legal representative, chairman and general manager
of SC since 2007.
SC is
known to have approx. 15 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Shenzhen. The detailed
premise information is unknown.
http://www.maps-industry.com/
The design is professional and the content is well organized. At present the
web site is in Chinese and English versions.
Email: maps@maps-industry.com
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
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Registration No. |
4403071264245 |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Cai Liangying 55
Shen Haodong 45
Legal
representative, Chairman and General manager:
Ms. Cai Liangying is currently responsible for the overall management
of SC.
Working
Experience(s):
From 2007 to present Working in SC as legal
representative, chairman and general manager
Supervisor:
Shen Haodong
SC is mainly
engaged in manufacturing and selling sofa production special equipment.
SC’s products mainly include: AV-780BS CNC Pillow Filling
Machine, AV
SC
sources its materials 100% from domestic market. SC sells 5% of products in
domestic market and 95% to overseas market, mainly Southeast Asia.
The buying terms of SC include Check, T/T and Credit of 30-60
days. The payment terms of SC include T/T, Check, L/C, and Credit of 30-60
days.
Note:
SC declined to release its major suppliers and clients.
According to SC’s website:
Kunming Office
Mob: 13888005421
Contact person: Mr. Zhang
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’s management
declined to release its banking information.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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Cash & bank |
120 |
590 |
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Inventory |
1,000 |
190 |
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Accounts
receivable |
420 |
970 |
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Advances to
suppliers |
210 |
270 |
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Other
receivables |
700 |
90 |
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Other current
assets |
70 |
-100 |
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------------------ |
------------------ |
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Current assets |
2,520 |
2,010 |
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Fixed assets net
value |
320 |
360 |
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Long term
investment |
0 |
0 |
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Projects under
construction |
0 |
0 |
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Intangible and
other assets |
10 |
30 |
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------------------ |
------------------ |
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Total assets |
2,850 |
2,400 |
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=========== |
=========== |
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Short loan |
100 |
100 |
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Accounts payable |
2,000 |
960 |
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Advances from
clients |
310 |
1,200 |
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Taxes payable |
-160 |
-50 |
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Other Accounts
payable |
160 |
-30 |
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Other current
liabilities |
90 |
30 |
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------------------ |
------------------ |
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Current
liabilities |
2,500 |
2,210 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,500 |
2,210 |
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Equities |
350 |
190 |
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------------------ |
------------------ |
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Total
liabilities & equities |
2,850 |
2,400 |
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=========== |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2011 |
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Turnover |
3,580 |
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Cost of goods sold |
3,210 |
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Sales expense |
200 |
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Management expense |
310 |
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Finance expense |
20 |
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Profit before tax |
-160 |
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Less: profit tax |
0 |
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Profits |
-160 |
Important
Ratios
=============
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
1.01 |
0.91 |
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*Quick ratio |
0.61 |
0.82 |
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*Liabilities
to assets |
0.88 |
0.92 |
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*Net profit
margin (%) |
/ |
-4.47 |
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*Return on
total assets (%) |
/ |
-6.67 |
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*Inventory
/Turnover ×365 |
/ |
19 days |
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*Accounts
receivable/Turnover ×365 |
/ |
99 days |
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*Turnover/Total
assets |
/ |
1.49 |
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* Cost of goods
sold/Turnover |
/ |
0.90 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line in
2011.
l
SC’s net profit margin is fair in 2011.
l
SC’s return on total assets is fair in 2011.
l
SC’s cost of goods sold is average in 2011,
comparing with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level in 2010 but in a fair level in 2011.
l
SC’s quick ratio is maintained in a fair level in
2010 and in a normal level in 2011.
l
The inventory of SC appears fairly large in 2010
and average in 2011.
l
The accounts receivable of SC appears average in
2010 but fairly large in 2011.
l
The short-term loan of SC appears average in both
years.
l
SC’s turnover is in an average level in 2011,
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 above average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
The large amount of accounts receivable could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.50 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.69.30 |
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.