MIRA
INFORM REPORT
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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
High Tech Development Zone, Taishan District Taian, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.01.2010 |
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Com. Reg. No.: |
370902200010165 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling mechanical and electrical equipment. |
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No. of Employees : |
65 |
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 – 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
SHANDONG TENGFEI MECHANICAL AND ELECTRICAL TECHNOLOGY CO., LTD.
HIGH TECH DEVELOPMENT ZONE, TAISHAN DISTRICT
TAIAN, SHANDONG PROVINCE 271000 PR CHINA
TEL: 86 (0) 538-8108306/8108308
FAX: 86 (0) 538-8108309
EXECUTIVE SUMMARY
Date of Registration : JANUARY 4, 2010
REGISTRATION NO. : 370902200010165
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 10,000,000
staff :
65
BUSINESS CATEGORY : MANUFACTURING
& trading
Revenue :
CNY 0 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 6,876,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : ordinary
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.: 370902200010165 on January 4,
2010.
SC’s Organization Code Certificate No.:
69965550-1
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 7,000,000
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 |
|
Zhang Baosong |
51 |
|
Li Chuanchen |
49 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhang Baosong |
|
Supervisor |
Li Chuanchen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zhang Baosong 51
Li Chuanchen 49
MANAGEMENT
Zhang Baosong Legal Representative, Chairman, and General
Manager
--------------------------------------------------------------------------------------------------------
Ř
Gender: M
Ř
Qualification:
University
Ř
Working
experience (s):
At present, working in SC as legal representative, chairman,
and general manager
Li Chuanchen ,
Supervisor
----------------------------------------------
Ř
Gender: M
Ř
Qualification:
University
BUSINESS OPERATION
SC started its normal
business in April 2012.
SC’s registered
business scope includes researching, selling, importing and exporting
mechanical and electrical products; manufacturing, selling, importing and exporting
building materials production machine, mining machine, and industrial
electrical automation equipment; developing and selling computer software and
hardware.
SC is mainly
engaged in manufacturing and selling mechanical and electrical equipment.
SC’s products
mainly include: various workshop equipment.
SC sources its merchandises 100% from domestic market, mainly Shandong.
SC sells 60% of its merchandises in domestic market and 40% to overseas market, mainly Southeast Asia, etc.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 65 staff at
present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
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
Agricultural Bank of China Taian Ningyang Sub-branch Ciyao Office
AC#:
15526401040004777
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
4,989 |
1,015 |
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Notes receivable |
0 |
900 |
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Short-term investment |
0 |
0 |
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Accounts
receivable |
0 |
-1,100 |
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Advances to
suppliers |
0 |
0 |
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Other receivable |
0 |
2,525 |
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Inventory |
0 |
1,730 |
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Deferred expense |
5 |
21 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
4,994 |
5,091 |
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Fixed assets |
0 |
8,855 |
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Construction in progress |
0 |
75 |
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Intangible
assets |
0 |
0 |
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Long-term
investment |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
4,994 |
14,021 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
7,437 |
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Wages payable |
0 |
100 |
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Taxes payable |
0 |
-403 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
11 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
7,145 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
7,145 |
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Equities |
4,994 |
6,876 |
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------------------ |
------------------ |
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Total
liabilities & equities |
4,994 |
14,021 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
0 |
|
Cost of sales |
0 |
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Taxes and surcharges |
0 |
|
Sales expense |
26 |
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Management expense |
98 |
|
Finance expense |
-3 |
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Income from
investment |
0 |
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Subsidy income |
0 |
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Non-business
income |
0 |
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Non-business expenditure |
1 |
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Profit before
tax |
-123 |
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Less: profit tax |
0 |
|
-123 |
SC started its
normal business in April 2012, so the revenue is zero in 2011.
Important Ratios
=============
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As of Dec. 31,
2011 |
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*Current ratio |
0.71 |
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*Quick ratio |
0.47 |
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*Liabilities
to assets |
0.51 |
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*Net profit
margin (%) |
-- |
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*Return on
total assets (%) |
-0.88 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable/ Revenue ×365 |
-- |
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*
Revenue/Total assets |
-- |
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* Cost of sales
/ Revenue |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
SC has no revenue in 2011.
l
SC’s return on total assets is fair.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears average.
l
SC has no short-term loans.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.05 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.