MIRA
INFORM REPORT
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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 2902, Building B, New Century Plaza, No. 1 South Taiping Road,
Baixia District, Nanjing, Jiangsu Province, 211000 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.06.2005 |
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Com. Reg. No.: |
320113000027668 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Trading of Microscope and Optical Accessories |
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No. of Employees : |
8 |
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 : |
Moderate |
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Payment Behaviour : |
Slow |
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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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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
Nanjing Microtech Scientific Instrument Co.,
Ltd.
Room 2902, Building B, New Century Plaza, No. 1
South Taiping Road, BAIXIA DISTRICT, NANJING, JIANGSU PROVINCE, 211000 PR CHINA
TEL: 86 (0) 25-58780497/58780498 FAX:
86 (0) 25-58780201
EXECUTIVE SUMMARY
INCORPORATION DATE : jun. 1, 2005
REGISTRATION NO. : 320113000027668
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. liu hongjun (CHAIRMAN)
STAFF STRENGTH :
8
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 290,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 410,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2922 = 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 fax no. “025
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 Jun. 1, 2005.
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 selling of optical instruments,
scientific instruments, machine and auto parts; importing & exporting and
acting as an agent of all kinds of products and technology, but excluding those
refined and prohibited by the state, should according to the regulation if
needed.
SC is mainly engaged in trading of microscope & optical accessories.
Mr. Liu Hongjun is legal representative, chairman and general manager of
SC at present.
SC is known to have approx. 8 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Nanjing. Our checks
reveal that SC rents the total premise, but the detailed information of the
premise is unspecified.
http://nj-microtech.com/
The design is professional and the content is well organized. At present it is
in English versions.
E-mail: info@nj-microtech.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Hongjun 70
Liu Zhijun 30
Legal Representative, Chairman and General Manager:
Mr. Liu Hongjun, born in 1969, he is currently responsible for the
overall and daily management of SC.
Working
Experience(s):
At present Working in SC as
legal representative, chairman and general manager.
Supervisor:
Mr. Liu Zhijun, born in 1944.
SC is mainly engaged in trading of microscope & optical accessories.
SC’s products mainly include:
Biological microscope
Stereo microscope
Metallurgical microscope
Polarizing microscope
Fluorescence microscope
LCD microscope
Optical components
Accessories
Telescope
Optical loupes
SC sources its materials 100% from domestic market. SC sells 5% of its
products in domestic market, and 95% to overseas market.
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.
Note: SC’s
management declined to release its major clients and suppliers.
SC is not known to have any subsidiary at present.
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.
Bank of China Nanjing Maigaoqiao Sub-branch
AC#: N/A
Relationship: Normal.
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 |
120 |
220 |
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Inventory |
0 |
110 |
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Accounts receivable |
300 |
130 |
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Advances to suppliers |
180 |
180 |
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Other receivables |
70 |
20 |
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Dividends receivable |
0 |
0 |
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Other current assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
670 |
660 |
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Fixed assets net value |
10 |
10 |
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Projects under construction |
0 |
0 |
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Long term investment |
0 |
0 |
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Intangible assets |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
680 |
670 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
180 |
130 |
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Other accounts payable |
0 |
0 |
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Notes payable |
0 |
0 |
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Taxes payable |
0 |
-10 |
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Advances from clients |
0 |
140 |
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Accrued payroll |
0 |
0 |
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Dividends payable |
0 |
0 |
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Other payable |
0 |
0 |
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Other current liabilities |
0 |
0 |
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Current liabilities |
180 |
260 |
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Long term liabilities |
0 |
0 |
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Total liabilities |
180 |
260 |
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Equities |
500 |
410 |
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Total liabilities & equities |
680 |
670 |
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Income Statement
Unit: CNY’000
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as
of Dec. 31, 2011 |
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Turnover |
290 |
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Cost of goods sold |
200 |
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Sales expense |
20 |
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Management expense |
160 |
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Finance expense |
0 |
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Profit before tax |
-90 |
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Less: profit tax |
0 |
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Profits |
-90 |
Important Ratios
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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*Current ratio |
3.72 |
2.54 |
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*Quick ratio |
3.72 |
2.12 |
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*Liabilities to assets |
0.74 |
0.61 |
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*Net profit margin (%) |
/ |
-31.03 |
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*Return on total assets (%) |
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-13.43 |
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*Inventory /Turnover ×365 |
/ |
139 days |
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*Accounts receivable/Turnover ×365 |
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164 days |
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*Turnover/Total assets |
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0.43 |
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* Cost of goods sold/Turnover |
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0.69 |
PROFITABILITY:
FAIR
The turnover of SC appears fair in its line in 2011.
SC’s net profit margin is poor in 2011.
SC’s return on total assets is poor in 2011.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
SC has no inventory in 2010 and it appears average in 2011.
The accounts receivable of SC appears average in 2011.
SC has no short-term loan in both years.
SC’s turnover is fair in 2011, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.93 |
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1 |
Rs.85.85 |
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Euro |
1 |
Rs.69.94 |
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.