MIRA INFORM REPORT
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Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
EVEREXCEED CORPORATION |
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Registered Office : |
Room 0416-0418, 4/F, Tower A, Marina Bay Center, Xinghua
Road, Baoan Cbd, Shenzhen, Guangdong
Province, 518101 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
14.05.2009 |
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Com. Reg. No.: |
440306104012731 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject was
engaged in researching and exporting power sources |
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No. of Employees
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02 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
everexceed corporation
room 0416-0418,
4/f, tower a, Marina Bay Center, xinghua road,
baoan cbd,
SHENZHEN, GUANGDONG PROVINCE, 518101 PR CHINA
TEL: 86 (0)
755-21638065 FAX: 86 (0)
755-21638069
EXECUTIVE SUMMARY
INCORPORATION DATE : may 14, 2009
REGISTRATION NO. : 440306104012731
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 2
REGISTERED CAPITAL :
CNY 100,000
BUSINESS LINE : R&D, TRADING
TURNOVER : CNY 9,000 (UNaudited, AS OF DEC. 31, 2011)
EQUITIES : CNY -351,000 (UNaudited, AS OF DEC. 31, 2011)
PAYMENT :
NOT YET DETERMINED
RECOMM. CREDIT RANGE :
NO RECOMMENDATION
MARKET CONDITION : poor
FINANCIAL CONDITION : poor
OPERATIONAL TREND :
poor
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 – 2 B2705, the 5th Avenue Chuangye 1st road Baoan Center District Shenzhen was SC’s former address, while SC’s current operating address should be the heading one; SC’s correct name should be the heading one, while the given name – Everexceed Industrial Co., Ltd. belongs to SC’s related company registered in Hong Kong.
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 14, 2009.
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 researching and selling power (excluding manufacturing
and processing)
SC has ceased operation since Aug. of 2011, and SC was
mainly engaged in researching and exporting power sources before Aug. of 2011.
Mr. Wang Lixiong is legal representative, chairman and general manager of SC
at present.
SC is
known to have approx. 2 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Shenzhen. The
detailed information of the premise is unspecified.
SC is not known to have website of its own at present.
E-mail: info@everexceed.com
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
According to SC’s accountant, SC has ceased
operation since Aug. of 2011.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Lixiong 50
Chen Zhen 50
l
Legal
Representative, Chairman & General Manager:
Mr. Wang Lixiong is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager
Also working in EverShine Photovoltaic Technology Co., Ltd. as legal representative
SC has ceased operation since Aug. of 2011, and SC was
mainly engaged in researching and exporting power sources before Aug. of 2011.
EverShine
Photovoltaic Technology Co., Ltd.
Legal representative:
Wang Lixiong (王立雄)
Registration
no.: 440306104634152
Add: Rm.
0416-0418, 4/F, Tower A, Rongchao Binhai Building, Xinghua Road, Baoan CBD,
Shenzhen
Tel: +86
755 2163 8065
Fax: +86
755 2163 8069
Web: http://www.evershinepv.com/
The company is known to have approx. 10 employees at present.
Everexceed Industrial Company
Limited (Hong Kong)
CR No.: 0805934
Date of
Incorporation: 12-July-2002
Company Status:
Private
Active Status:
Live
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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 records and our debt collection record concerning SC.
Trade payment experience : N/A
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 bank details.
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 |
61 |
26 |
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Inventory |
0 |
0 |
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Accounts
receivable |
0 |
0 |
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Other
receivables |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
61 |
26 |
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Fixed assets net
value |
0 |
8 |
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Projects under
construction |
0 |
0 |
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Long-term
investments |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
61 |
34 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
0 |
0 |
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Other Accounts
payable |
320 |
385 |
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Other
current liabilities |
0 |
0 |
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----------------- |
----------------- |
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Current
liabilities |
320 |
385 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
320 |
385 |
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Shareholders
equities |
-259 |
-351 |
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------------------ |
------------------ |
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Total
liabilities & equities |
61 |
34 |
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============= |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2011 |
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Turnover |
9 |
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Cost of goods
sold |
6 |
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Sales expense |
0 |
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Management expense |
95 |
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Finance expense |
0 |
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Operation Profit |
-92 |
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Less: profit tax |
0 |
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Net profit |
-92 |
Note: The above financial report for Yr2011 has not
been audited.
Important Ratios
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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*Current ratio |
0.19 |
0.07 |
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*Quick ratio |
0.19 |
0.07 |
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*Liabilities
to assets |
5.25 |
11.32 |
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*Net profit
margin (%) |
/ |
-1,022 |
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*Return on
total assets (%) |
/ |
-270.59 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
/ |
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*Turnover/Total
assets |
/ |
0.26 |
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* Cost of
goods sold/Turnover |
/ |
0.67 |
PROFITABILITY:
POOR
l
The turnover of SC appears poor in its line.
l
SC’s net profit margin is POOR in 2011.
l
SC’s return on total assets is POOR in 2011.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: POOR
l
The current ratio of SC is maintained in a poor
level.
l
SC’s quick ratio is maintained in a poor level.
l
SC has no inventory in 2010 and 2011.
l
SC has no accounts receivable in 2010 and 2011.
l
SC has no short-term loan in 2010 and 2011.
l
SC’s turnover is in a poor level, comparing with
the size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is too high.
l
The risk for SC to go bankrupt is high.
Overall financial condition of the SC: Poor.
SC has ceased operation since Aug. of
2011. Judging from the above investigation results,
no credit dealings with SC are recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.94 |
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UK Pound |
1 |
Rs.77.95 |
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Euro |
1 |
Rs.65.94 |
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.