MIRA
INFORM REPORT
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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING J&R TIMES TECHNOLOGY CO., LTD. |
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Registered Office : |
Room 1402, Block E, Triumph City, No. 170, Beiyuan Road, Chaoyang District, Beijing, 100101 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.06.2005 |
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Com. Reg. No.: |
110105008580837 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in selling chemical raw materials, API and pharmaceutical intermediates |
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No. of Employees : |
06 |
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
Beijing J&R Times Technology CO., LTD.
ROOM 1402, BLOCK E, TRIUMPH CITY, NO. 170,
BEIYUAN ROAD,
CHAOYANG DISTRICT, BEIJING, 100101 PR CHINA
TEL: 86 (0) 10-58236043 FAX: 86 (0) 10-58236041
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 22, 2005
REGISTRATION NO. : 110105008580837
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 6
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 44,310,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 2,140,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.324=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 Ren Min Bi
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 June 22, 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 medical device (class II, III). technology promotion; selling chemical products (excluding hazardous chemicals), mechanical equipment, instrumentation, electronic products; economic and trade advisory; importing and exporting goods and technology; import and export agent.
SC is mainly engaged in selling chemical raw materials, API and pharmaceutical intermediates.
Mr. Qu Xin is the legal representative, chairman and general manager of SC at present.
SC is known to have approx. 6 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Beijing. Our checks reveal that SC rents the total premise, but SC’s accountant refused to release the gross area.
http://www.jarytimes.com/ The
design is professional and the content is well-organized. At present it is in
both Chinese and English versions.
E-mail: sales@jarytimes.com
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
|
2011 |
Registered capital |
CNY 500,000 |
Present amount |
MAIN
SHAREHOLDERS:
Name
%
of shareholdings
Qu Xin 99.5
Zou Li’ni 0.5
Legal
Representative, Chairman and General Manager:
Mr. Qu Xin , born in 1981, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager.
SC
is mainly engaged in selling chemical raw materials, API and pharmaceutical
intermediates.
SC’s products
mainly include:
API
-respiratory and
allergy
-anti-virus
-antibiotics
-anti-fungal
-anti-tumor
-nervous system
-diabetes medication
-cardiovascular
–digestive
-others
intermediate
SC sources its
materials 90% from domestic market, and 10% from overseas markets. SC sells 70%
of its products in domestic market, and 30% to overseas market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, L/C, T/T, and Credit of 30-60 days.
Note:
SC’s management declined to release its major suppliers and clients.
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.
Beijing Rural
Commercial Bank Yayuncun Sub-branch
AC#0111020103000004320
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 |
490 |
5,420 |
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Notes receivable |
0 |
30 |
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Inventory |
320 |
160 |
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Accounts
receivable |
2,170 |
7,430 |
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Advances to
supplies |
0 |
0 |
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Prepaid expenses |
10 |
0 |
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Other
receivables |
0 |
1,240 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
2,990 |
14,280 |
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Long-term
investments |
0 |
0 |
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Fixed assets net
value |
60 |
60 |
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Projects under
construction |
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 |
3,050 |
14,340 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
930 |
10,320 |
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Advances from
customers |
1,550 |
1,550 |
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Accrued
Payroll |
0 |
30 |
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Taxes payable |
-30 |
300 |
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Other accounts
payable |
0 |
0 |
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Other
current liabilities |
0 |
0 |
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----------------- |
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Current
liabilities |
2,450 |
12,200 |
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Long term
liabilities |
0 |
0 |
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------------------ |
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Total
liabilities |
2,450 |
12,200 |
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Shareholders
equities |
600 |
2,140 |
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Total
liabilities & equities |
3,050 |
14,340 |
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Income Statement
Unit: CNY’000
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as of Dec. 31, 2010 |
as of Dec. 31, 2011 |
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Turnover |
14,430 |
44,310 |
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Cost of goods
sold |
13,410 |
41,690 |
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Taxes
and additional of main operation |
80 |
50 |
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Sales expense |
200 |
430 |
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Management expense |
680 |
2,080 |
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Finance expense |
10 |
10 |
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Non-operating
income |
0 |
0 |
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Non-operating expense |
0 |
0 |
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Profit before
tax |
50 |
50 |
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Less: profit tax |
10 |
10 |
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Net profit |
40 |
40 |
Important
Ratios
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
1.22 |
1.17 |
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*Quick ratio |
1.09 |
1.16 |
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*Liabilities
to assets |
0.80 |
0.85 |
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*Net profit margin
(%) |
0.28 |
0.09 |
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*Return on
total assets (%) |
1.31 |
0.28 |
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*Inventory
/Turnover ×365 |
9 days |
2 days |
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*Accounts
receivable/Turnover ×365 |
55 days |
62 days |
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*Turnover/Total
assets |
4.73 |
3.09 |
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* Cost of
goods sold/Turnover |
0.93 |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, and
it increased in 2011.
l
SC’s net profit margin appears average in both
years.
l
SC’s return on total assets appears average in both
years.
l
SC’s cost of goods sold is fairly high in both
years, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears small in both years.
l
The accounts receivable of SC appears fairly large
in both years.
l
SC has no short-term loan in both years.
l
SC’s turnover is in a fairly good level in both
years, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high in both years.
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.55.93 |
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UK Pound |
1 |
Rs.88.15. |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
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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.