MIRA INFORM
REPORT
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Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SUZHOU RUNBAO CHEMICAL PRODUCTS CO., LTD. |
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Registered Office : |
Room 205/207/209, No. 2 Building, Jinyun Mansion, No. 1299
Jinmen Road, Suzhou, Jiangsu Province, 215004
Pr |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
23.08.1996 |
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Com. Reg. No.: |
320500400004307 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
manufacturing and selling M series printing paste. |
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No. of Employees: |
Not Available |
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 : |
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 – September 30, 2011
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
suzhou runbao chemical products co., ltd.
room 205/207/209,
NO. 2 building,
1299 2205/207/209
TEL: 86 (0)
512-68630199 FAX: 86 (0)
512-68630091
EXECUTIVE SUMMARY
INCORPORATION DATE : august 23, 1996
REGISTRATION NO. : 320500400004307
REGISTERED LEGAL FORM : Wholly foreign-owned
STAFF STRENGTH :
20
REGISTERED CAPITAL : usd 210,000
BUSINESS LINE :
trading
TURNOVER :
CNY 5,202,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 2,952,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.64344 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a wholly foreign-owned enterprise at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on August 23, 1996.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes manufacturing and selling M series printing paste.
SC is mainly engaged in selling printing paste.
Mr. Gu Qun has been legal representative and chairman of SC since 1996.
SC is known to have approx. 20 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Suzhou. Our checks reveal that SC rents the total premise about 60 square meters.
http://www.runbaosz.com The
design is professional and the content is well organized. At present it is only
in Chinese version.
Email: runbaosz2007gu@126.com
/ runbaosz2007sales@126.com / fastaccess123@yahoo.com
Certificates:
=========
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered No. |
007189 |
320500400004307 |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
U.S.A. Jintanglang Co., Ltd. (In Chinese
Pinyin) 100
l
Legal Representative and Chairman:
Mr. Gu Qun, # P360749(A),
Working Experience(s):
From 1996 to present Working
in SC as legal representative and chairman.
l
General Manager:
Mr. Gu
Qizheng ID# 320504621122103, born in
1962, he is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
l
Director:
Gao Xiuying ID# 320504193305010527
SC is mainly
engaged in selling printing paste.
SC’s products
mainly include: M series printing paste.
SC sources its
materials 20% from domestic market, and 80% from overseas markets, mainly
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, T/T, and Credit of 30-60 days.
According to the above website:
Etc.
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.
Agricultural Bank of
AC# 552601040026285
Relationship:
Note: The given bank “Construction Bank of
Balance Sheet
Unit: CNY’000
|
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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Cash & bank |
352 |
447 |
|
Notes receivable |
1,636 |
560 |
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Inventory |
1,506 |
1,629 |
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Accounts
receivable |
2,873 |
2,894 |
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Advances to
suppliers |
0 |
0 |
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Prepaid expenses |
0 |
0 |
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Other accounts
receivable |
1,027 |
87 |
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Other current
assets |
12 |
18 |
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------------------ |
------------------ |
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Current assets |
7,406 |
5,635 |
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Fixed assets net
value |
514 |
431 |
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Project under
construction |
0 |
0 |
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Long-term
deferred expenses |
65 |
54 |
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Intangible and other
assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
7,985 |
6,120 |
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============= |
============= |
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Short loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
111 |
98 |
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Advances from
clients |
0 |
0 |
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Accrued payroll |
66 |
92 |
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Taxes payable |
35 |
34 |
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Other accounts
payable |
3,708 |
2,923 |
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Other current
liabilities |
8 |
21 |
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------------------ |
------------------ |
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Current
liabilities |
3,928 |
3,168 |
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Long-term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
3,928 |
3,168 |
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Equities |
4,057 |
2,952 |
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------------------ |
------------------ |
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Total
liabilities & equities |
7,985 |
6,120 |
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============= |
============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31,
2008 |
As of Dec. 31,
2009 |
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Turnover |
5,833 |
5,202 |
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Cost of goods sold |
4,333 |
4,168 |
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Sales expense |
229 |
0 |
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Management expense |
981 |
2,103 |
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Finance expense |
5 |
9 |
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Profit before
tax |
346 |
-1,096 |
|
40 |
0 |
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Profits |
306 |
-1,096 |
Important
Ratios
=============
|
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As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
*Current ratio |
1.89 |
1.78 |
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*Quick ratio |
1.50 |
1.26 |
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*Liabilities
to assets |
0.49 |
0.52 |
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*Net profit
margin (%) |
5.25 |
-21.07 |
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*Return on
total assets (%) |
3.83 |
-17.91 |
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*Inventory
/Turnover ×365 |
95 days |
115 days |
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*Accounts
receivable/Turnover ×365 |
180 days |
203 days |
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*Turnover/Total
assets |
0.73 |
0.85 |
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* Cost of
goods sold/Turnover |
0.74 |
0.80 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line in
both 2 years.
l
SC’s net profit margin is fairly good in 2008, but
poor in 2009.
l
SC’s return on total assets is average in 2008, but
fair in 2009.
l
SC’s cost of goods sold is average in both 2 years,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both 2 years.
l
SC’s quick ratio is maintained in a normal level in
both 2 years.
l
The inventory of SC is maintained in an average
level in both 2 years.
l
The accounts receivable of SC appears fairly large
in both 2 years.
l
SC has no short-term loan in both 2 years.
l
SC’s turnover is in a fair level in both 2 years,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in both 2 years.
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. The large amount of accounts receivable could be a threat to SC’s
financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.14 |
|
|
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.