MIRA
INFORM REPORT
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Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
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Name : |
DALIAN YIDU GROUP CO., LTD. |
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Formerly Known As : |
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Registered Office : |
Rm 2001,
China Insurance Building, No. 26, Renmin Road, Zhongshan District, Dalian,
Liaoning Province 116602 Pr |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
12.11.2003 |
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Com. Reg. No.: |
210200000195475 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
importing and exporting, wholesaling, retailing and delivering
agricultural products; investment and management of its subsidiaries |
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No. of Employees : |
30 employees |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Since the late 1970s
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Source : CIA |
Company name & address
DALIAN YIDU GROUP CO.,
LTD.
RM 2001, China Insurance Building, NO. 26, RENMIN ROAD
ZHONGSHAN DISTRICT, DALIAN, LIAONING PROVINCE 116602 PR CHINA
TEL: 86 (0) 411-87595755/87595753
FAX: 86 (0) 411-87595757
EXECUTIVE SUMMARY
Date of Registration : NOVEMBER 12, 2003
REGISTRATION NO. : 210200000195475
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 20,000,000
staff : 30
BUSINESS CATEGORY :
TRADing & management
REVENUE :
CNY 28,350,000 (JAN. 1, 2012 TO
JUN. 30, 2012)
EQUITIES :
CNY 19,120,000 (AS OF JUN. 30, 2012)
WEBSITE : www.yidu.com.cn
E-MAIL :
info@yidu.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25 = 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
LEGAL STATUS & HISTORY
***Note: SC’s address should be the heading one,
while SC’s
The interviewed person is SC’s accountant, who
refused to release the detailed name.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 210200000195475 on November 12, 2003.
SC’s Organization Code Certificate
No.: 75605270-8
SC’s registered capital: CNY 20,000,000
SC’s paid-in capital: CNY 20,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
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Shareholder
(s) (% of Shareholding) |
Liu Zhi
50% Liu Yong
50% |
Liu Zhi
97.5% Liu Yiwu
2.5% |
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Registered capital |
CNY 1,000,000 |
CNY
20,000,000 |
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Company Name |
Dalian Yidu Trading Co., Ltd. |
Dalian Yidu
Group Co., Ltd. |
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-- |
Registered No. |
2102002122196 |
210200000195475 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Liu Zhi |
97.5 |
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Liu Yiwu |
2.5 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Liu Zhi |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Liu Zhi 97.5
Liu Yiwu 2.5
MANAGEMENT
Liu Zhi, Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 42
Ø
Qualification:
University
Ø
Working
experience (s):
From 2003 to present, working in SC as legal representative, chairman and general manager
Also working in Dalian Yidu International Forwarding Agency Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered
business scope includes selling agricultural products
(cereals and oil limited to retail), native &
animal products, seafood, textiles, daily use
articles, construction materials, metal materials, handicrafts, chemical products,
mechanical and electrical products (excluding special approval); import and
export of various goods and technologies (excluding the goods and technologies
prohibited or limited by the laws and regulations, which should get trade
license first); purchasing farm produce and sideline products.
SC is mainly
engaged in importing and exporting, wholesaling, retailing and delivering
agricultural products; investment and management of its subsidiaries.
SC’s
products mainly include: stone fruit, citrus, apple, grape, Southeast Asian
fruit and mixed fruit.
SC sources its materials 40% from domestic market, and 60% from overseas market. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly America, Canada and Australia.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, L/C, T/T and Credit of 30-60 days.
*Major Customers:
==============
Dole Food Company
Carrefour
Walmart
Tesco
Staff & Office:
--------------------------
SC is
known to have approx. 30 staff
at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Dalian Yidu-Jifa Cold Logistics Co., Ltd.
n
Dalian Yidu International Forwarding Agency Co., Ltd.
SC
is known to have 7 offices at present: Guangzhou Office, Beijing Office,
Shanghai Office, Shenyang Office, America Office, South America Office and
Europe Office.
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
Basic Bank:
Bank
of Communications Dalian Minxing Sub-branch
AC#: 212060190018170058107
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Jun. 30, 2012 |
|
970 |
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Notes receivable |
0 |
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Accounts
receivable |
30,340 |
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Advances to
suppliers |
760 |
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Other receivable |
14,330 |
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Inventory |
1,820 |
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Non-current
assets within one year |
0 |
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Other current
assets |
130 |
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------------------ |
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Current assets |
48,350 |
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Fixed assets |
130 |
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Long-term
investment |
6,120 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
30 |
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------------------ |
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Total assets |
54,630 |
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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 |
27,390 |
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Wages payable |
30 |
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Taxes payable |
-40 |
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Advances from
clients |
1,110 |
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Other payable |
4,620 |
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Other current
liabilities |
2,400 |
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------------------ |
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Current
liabilities |
35,510 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
35,510 |
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Equities |
19,120 |
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------------------ |
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Total
liabilities & equities |
54,630 |
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============= |
Income Statement
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Unit: CNY’000 |
Jan.
1, 2012 to Jun. 30, 2012 |
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Revenue |
28,350 |
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Cost of sales |
26,930 |
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Sales expense |
910 |
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Management expense |
270 |
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Finance expense |
20 |
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Profit before
tax |
190 |
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Less: profit tax |
0 |
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190 |
Important Ratios
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As
of Jun. 30, 2012 |
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*Current ratio |
1.36 |
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*Quick ratio |
1.31 |
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*Liabilities
to assets |
0.65 |
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*Net profit
margin (%) |
0.67 |
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*Return on
total assets (%) |
0.35 |
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*Inventory /
Revenue ×180 |
12 days |
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*Accounts
receivable/ Revenue ×180 |
193 days |
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*
Revenue/Total assets |
0.52 |
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* Cost of
sales / Revenue |
0.95 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue 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 sales is fairly high, comparing with
its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC appears large.
l
SC has no short-term loans.
l
SC’s revenue is in an
average 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.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions. The large amount of accounts receivable may
be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.59 |
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UK Pound |
1 |
Rs.85.81 |
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Euro |
1 |
Rs.69.91 |
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.