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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
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Name : |
CHANNEL |
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Registered Office : |
Room 905-909 Section A United International Building No. 19
Dongsanhuan South Road Chaoyang District, Beijing 100023 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.01.2007 |
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Com. Reg. No.: |
110105003284060 |
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Legal Form : |
Limited Liabilities
Company |
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Line of Business : |
Wholesaling pre-packaged food; importing and exporting commodities and technology |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHANNEL ARK ENTERPRISES
ROOM 905-909 SECTION A UNITED INTERNATIONAL BUILDING
NO. 19 DONGSANHUAN SOUTH ROAD
CHAOYANG DISTRICT, BEIJING 100023 PR CHINA
TEL: 86 (0) 10-87667523
FAX: 86 (0) 10-87667524
Date of Registration : JANUARY 30, 2007
REGISTRATION NO. : 110105003284060
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 1,000,000
staff :
10
BUSINESS CATEGORY : trading &
service
Revenue :
CNY 26,600,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 860,000 (AS OF DEC. 31, 2011)
WEBSITE : www.channelark.com
E-MAIL :
phoebe@channelark.com
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly stable
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
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
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110105003284060 on January 30,
2007.
SC’s Organization Code Certificate No.:
79851790-5
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
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 |
|
Jin Feng |
60 |
|
Zhao Lijie |
20 |
|
Zhao Liqiang |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhao Lijie |
|
Director/Supervisor |
Jin Feng |
|
Zhao Liqiang |
No recent development was found during our checks at present.
Jin Feng 60
Zhao Lijie 20
Zhao Liqiang 20
Zhao Lijie , Legal
Representative, Chairman, and General Manager
--------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman,
and general manager
Director/Supervisor
--------------------------
Jin Feng
Zhao Liqiang
SC’s registered
business scope includes wholesaling pre-packaged food; importing and exporting
commodities and technology; technology popularization services; storage
service; economic trade consulting; exhibition service; organizing culture and
arts exchange activities.
SC is mainly
engaged in import & export agency, international purchasing services,
international transportation agency, and storage & distribution services.
The products are widely
used in petroleum, chemical, electric power, metallurgy, machinery, textile,
automobile, environmental protection, network and medical equipment industries.
SC sources its merchandises 80% from domestic market, and 20% from
overseas market. 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, 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.
Staff & Office:
--------------------------
SC is known
to have approx. 10 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
SC
is not known to have any subsidiary at present.
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.
Basic Bank
Industrial and Commercial
Bank of China Beijing Shilihe Sub-branch
(CNY) A/C No.: 02000 49419 20003 8080
(USD) A/C No.: 02000 49409 11100 1350
(EUR) A/C No: 02000 49409 11100 1749
Swift Code: ICBKCNBJBJM
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
3,070 |
|
|
Notes receivable |
0 |
|
Accounts
receivable |
0 |
|
Advances to
suppliers |
0 |
|
Other receivable |
20 |
|
Inventory |
5,610 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
180 |
|
|
------------------ |
|
Current assets |
8,880 |
|
Fixed assets |
60 |
|
Construction in
progress |
0 |
|
Intangible
assets |
0 |
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Long-term
investment |
0 |
|
Deferred income
tax assets |
0 |
|
Other
non-current assets |
0 |
|
|
------------------ |
|
Total assets |
8,940 |
|
|
============= |
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Short-term loans |
0 |
|
Notes payable |
0 |
|
Accounts payable |
340 |
|
Welfares payable |
0 |
|
Taxes payable |
0 |
|
Advances from
clients |
7,690 |
|
Other payable |
460 |
|
Other current
liabilities |
-410 |
|
|
------------------ |
|
Current
liabilities |
8,080 |
|
Non-current
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
8,080 |
|
Equities |
860 |
|
|
------------------ |
|
Total
liabilities & equities |
8,940 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
26,600 |
|
Cost of sales |
23,040 |
|
Sales expense |
2,650 |
|
Management expense |
800 |
|
Finance expense |
30 |
|
Profit before
tax |
23 |
|
Less: profit tax |
3 |
|
20 |
Important Ratios
=============
|
|
As of Dec. 31, 2011 |
|
*Current ratio |
1.10 |
|
*Quick ratio |
0.40 |
|
*Liabilities
to assets |
0.90 |
|
*Net profit
margin (%) |
0.08 |
|
*Return on
total assets (%) |
0.22 |
|
*Inventory /
Revenue ×365 |
77 days |
|
*Accounts
receivable/ Revenue ×365 |
-- |
|
*
Revenue/Total assets |
2.98 |
|
* Cost of
sales / Revenue |
0.87 |
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC appears large.
l
SC has no accounts receivable.
l
SC has no short-term loans.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is above 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 inventory may be a threat to SC’s financial
condition..
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.