MIRA INFORM REPORT
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Report Date : |
13.03.2012 |
IDENTIFICATION DETAILS
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Name : |
TAIAN KAITONG TRADING CO., LTD. |
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Registered Office : |
No. 28 Qingnian Road, Taian City, Shandong
Province 271000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.04.2004 |
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Com. Reg. No.: |
370900228024076 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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No. of Employees
: |
04 |
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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Maximum Credit Limit : |
USD 2,000 |
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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 – 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
taian kaitong trading co., ltd.
no. 28 qingnian road,
taian city, shandong province 271000 PR CHINA
TEL: 86 (0)
538-6301599/6301509
FAX: 86 (0)
538-6301519
EXECUTIVE SUMMARY
Date of Registration : april 27, 2004
REGISTRATION NO. : 370900228024076
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 1,000,000
staff : 4
BUSINESS CATEGORY :
trading
Revenue : CNY 1,285,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 485,000 (AS OF DEC. 31, 2011)
WEBSITE : www.goodkt.com
E-MAIL :
trade@netcso.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
2,000 (periodical review)
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.32 = 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.: 370900228024076 on April 27,
2004.
SC’s Organization Code Certificate No.:
76187551-4
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 |
|
Shi Jinfang |
80 |
|
Li Xiudong |
10 |
|
Zhao Xiuzhen |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Shi Jinfang |
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Director/Supervisor |
Li Xiudong |
|
Zhao Xiuzhen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shi Jinfang 80
Li Xiudong 10
Zhao Xiuzhen 10
MANAGEMENT
Shi Jinfang, Legal Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Mobile:
86 (0) 13954859531
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director/Supervisor
--------------------------
Li Xiudong
Zhao Xiuzhen
BUSINESS OPERATION
SC’s registered business scope includes operating and acting
as an agent of importing and exporting various kinds of commodities and
technology, excluding the goods forbidden by the government.
SC is
mainly engaged in international trade.
SC’s
products mainly include: food additives, plant spices, steel products, candle,
etc.
SC sources its materials 40% from domestic
market, and 60% from overseas market, mainly Africa. SC sells 65% of its
products in domestic market, and 35% to overseas market, mainly Southeast Asia,
Mid East, etc.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 4
staff at present.
SC rents an area
as its operating office, 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
160 |
|
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Accounts
receivable |
115 |
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Advances to suppliers |
0 |
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Other receivable |
-500 |
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Inventory |
634 |
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Non-current
assets within one year |
0 |
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Other current
assets |
-70 |
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------------------ |
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Current assets |
339 |
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Fixed assets |
121 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
-9 |
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------------------ |
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Total assets |
451 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Taxes payable |
-34 |
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Advances from
clients |
0 |
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Other payable |
0 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
-34 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
-34 |
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Equities |
485 |
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------------------ |
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Total
liabilities & equities |
451 |
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============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
1,285 |
|
Cost of sales |
1,034 |
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Sales expense |
109 |
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Management expense |
286 |
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Finance expense |
4 |
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Profit before
tax |
-247 |
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Less: profit tax |
12 |
|
-259 |
Important Ratios
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As
of Dec. 31, 2011 |
|
*Current ratio |
-9.97 |
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*Quick ratio |
8.68 |
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*Liabilities
to assets |
-0.08 |
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*Net profit
margin (%) |
-20.16 |
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*Return on
total assets (%) |
-57.43 |
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*Inventory /
Revenue ×365 |
181 days |
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*Accounts
receivable/ Revenue ×365 |
33 days |
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*
Revenue/Total assets |
2.85 |
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* Cost of
sales / Revenue |
0.80 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fair in its line.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
AVERAGE
l
The inventory of SC appears large.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
FAIR
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. The large amount of inventory may be a threat
to SC’s financial condition. A credit line up to USD 2,000 is recommended upon
a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.94 |
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UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.39 |
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 |
|
<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.