MIRA
INFORM REPORT
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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU GUOTAI H&B CO., LTD. |
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Registered Office : |
Room 3003, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.07.2011 |
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Com. Reg. No.: |
320592000055352 |
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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 : |
10 |
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
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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 & address
JIANGSU GUOTAI H&B CO., LTD.
Room 3003, Guotai
Mansion, Renmin MidDLE Road,
ZHANGJIAGANG, JIANGSU
PROVINCE, 215007 PR CHINA
TEL: 86 (0)
512-56329321/56329288 FAX: 86 (0)
512-56329322
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 12, 2011
REGISTRATION NO. : 320592000055352
REGISTERED LEGAL
FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 81,590,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 50,440,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.31 = 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: SC is also known as Jiangsu Guotai Huabo Import and
Export Co., Ltd.
SC was registered as a Limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on July 12, 2011.
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 permit business scope: wholesaling pre-packaged foods and
bulk foods ( with food distribution license if needed); general business scope:
importing and exporting goods and technology (excluding the items limited or
forbidden by the state), selling textiles, metal materials, chemical products
(excluding hazardous chemicals), hardware, electronic products, mineral
products (excluding coal). (with permit if needed)
SC is mainly
engaged in international trade.
Mr. Cai Dongsheng
is the legal representative and chairman of SC at present.
SC is known to have approx. 10 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Zhangjiagang. Our checks reveal that
SC rents the total premise, but the gross area of the premise is unspecific.
SC
also has another address located in Room
http://www.gtig.com The website belongs to SC’s parent company -
Jiangsu Guotai International Group Co., Ltd. The design is professional and the
content is well organized. At present it is in Chinese, English and Japanese
versions.
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jiangsu Guotai International Group Co., Ltd. 50
Zhangjiagang Free Trade Zone Shengtai
Investment Co., Ltd. 50
Jiangsu Guotai International Group Co., Ltd.
===============================
Jiangsu Guotai International Group is one of
the leading groups in Jiangsu province, China. It mainly involves in the
importing & exporting business, such as textiles, garments, handicrafts,
hardware, chemicals, pharmaceutical, steel, ships and so on. It also engages in
hotel, tourism, real estate, software R&D, finance and securities. Based on
foreign trading as the main business, it has also gradually formed diversified
business operations. In 2011, its sales amount reached RMB 26 billion with a
total value of USD 2.4 billion for importing and exporting business, including
USD 2.09 billion of export. It has always been the top of all trading companies
in Jiangsu province for successive years. It ranks No. 367 among the Top 500
Enterprises in China and No. 112 among the Top 500 Service Enterprises in China
in 2010.
Registration no.: 320000000010627
Website: http://www.gtig.com
E-mail: office@gtig.com
Tel: 86-512-58696206
Fax: 86-512-58696170
Add: Guotai Mansion, Renmin Middle Road, Zhangjiagang, Jiangsu Province, P.R.China
Zhangjiagang Free Trade Zone Shengtai
Investment Co., Ltd.
============================================
Registration no.: 320592000019756
Legal
Representative and Chairman:
Mr. Cai Dongsheng, ID# 62010519710810101X, born in 1971, with EMBA
degree, Senior Economist, Senior International Business Operator. He is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
Also working in Jiangsu GTIG Eastar Co., Ltd. as legal representative, and in Jiangsu Guotai International Group Co., Ltd. as director and deputy general manager.
General Manager:
Mr. Guo Lizhong, ID# 320521197101080050, born in 1971, with university education. He is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
Director:
Shi Xiaolei ID# 32058219580615821X
Supervisor:
Zhang Aibing ID# 230103197402036874
SC is mainly
engaged in international trade.
SC’s products
mainly include: cotton.
SC sources its materials and products 1%
from domestic market, and 99% from overseas market. SC sells 100% of its
products in domestic market.
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 and Credit of 30-60 days.
Note:
SC’s management declined to release its major suppliers and clients.
Jiangsu
GTIG Eastar Co., Ltd.
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 Zhangjiagang Sub-branch
AC# N/A
Relationship:
Normal.
Financial
Information
Unit: CNY’000
Note: SC’s
detailed financial reports for Yr2011 were not found in local AIC.
Important Ratios
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as
of Dec. 31, 2011 |
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*Current ratio |
1.34 |
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*Quick ratio |
0.96 |
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*Liabilities to
assets |
0.75 |
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*Net profit
margin (%) |
0.54 |
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*Return on
total assets (%) |
0.22 |
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*Inventory
/Turnover ×365 |
250 days |
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*Accounts
receivable/Turnover ×365 |
0 |
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*Turnover/Total
assets |
0.41 |
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* Cost of
goods sold/Turnover |
0.99 |
PROFITABILITY:
AVERAGE
l
The turnover 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 goods sold is high, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC appears fairly large.
l
SC has no accounts receivable in 2011.
l
SC has no short-term loan in 2011.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
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.54.29 |
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UK Pound |
1 |
Rs.86.61 |
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Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.