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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING HOME VALUE CO., LTD. |
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Registered Office : |
Bldg. 7, Longsheng Industrial Park, No. 7 Rongchang East
Street Economic & Technological Development Area Beijing 100176 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.09.2003 |
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Com. Reg. No.: |
110302006102657 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling different sorts of rugs |
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No. of Employees : |
88 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China
has moved from a closed, centrally planned system to a more market-oriented one
that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and
expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, and opening to foreign trade and investment. China has
implemented reforms in a gradualist fashion. In recent years, China has renewed
its support for state-owned enterprises in sectors it considers important to
"economic security," explicitly looking to foster globally
competitive national champions. After keeping its currency tightly linked to
the US dollar for years, in July 2005 China revalued its currency by 2.1%
against the US dollar and moved to an exchange rate system that references a
basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the
renminbi against the US dollar was more than 20%, but the exchange rate
remained virtually pegged to the dollar from the onset of the global financial
crisis until June 2010, when Beijing allowed resumption of a gradual
appreciation. The restructuring of the economy and resulting efficiency gains
have contributed to a more than tenfold increase in GDP since 1978. Measured on
a purchasing power parity (PPP) basis that adjusts for price differences, China
in 2010 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. Still, per capita income is below the world
average. The Chinese government faces numerous economic challenges, including:
(a) reducing its high domestic savings rate and correspondingly low domestic
demand; (b) sustaining adequate job growth for tens of millions of migrants and
new entrants to the work force; (c) reducing corruption and other economic
crimes; and (d) containing environmental damage and social strife related to
the economy's rapid transformation. Economic development has progressed further
in coastal provinces than in the interior, and by 2011 more than 250 million
migrant workers and their dependents had relocated to urban areas to find work.
One consequence of population control policy is that China is now one of the
most rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to near 9% for 2011. An economic slowdown in Europe is
expected to further drag Chinese growth in 2012. Debt overhang from the
stimulus program, particularly among local governments, and a property price
bubble challenge policy makers currently. The government's 12th Five-Year Plan,
adopted in March 2011, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source : CIA
BEIJING HOME VALUE CO., LTD.
BLDG. 7, LONGSHENG INDUSTRIAL PARK, NO. 7 RONGCHANG EAST STREET
ECONOMIC & TECHNOLOGICAL DEVELOPMENT AREA
BEIJING 100176 PR CHINA
TEL: 86 (0) 10-67806519
FAX: 86 (0) 10-67806338
Date of Registration : SEPTEMBER 2, 2003
REGISTRATION NO. : 110302006102657
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 3,300,000
staff :
88
BUSINESS CATEGORY : trading
Revenue :
CNY 265,905,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 54,202,000 (AS OF DEC. 31, 2011)
WEBSITE : www.chinarug.com
E-MAIL : info@chinarug.com
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
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
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110302006102657
on September 2, 2003.
SC’s Organization Code Certificate No.:
75415178-8
SC’s registered capital: CNY 3,300,000
SC’s paid-in capital: CNY 3,300,000
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 |
|
Yang Weidong |
35.1515 |
|
Liu Siqing |
16.0606 |
|
Zhao Hongbin |
16.0606 |
|
Zhang Huiqin |
10 |
|
Zhou Lijuan |
9.0909 |
|
Wang Huiying |
7.8788 |
|
Zhao Lei |
5.7576 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Liu Siqing |
|
Deputy General Manager |
Zhao Hongbin |
No recent development was found during our checks at present.
Yang Weidong 35.1515
Liu Siqing 16.0606
Zhao Hongbin 16.0606
Zhang Huiqin 10
Zhou Lijuan 9.0909
Wang Huiying 7.8788
Zhao Lei 5.7576
Liu Siqing , Legal
Representative, Chairman, and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 110101650810351
Ø
Age: 47
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman, and general manager
Zhao Hongbin ,
Deputy General Manager
-----------------------------------------------------------------
Ø
Gender: M
Ø
ID# 110104701224253
Ø
Age: 42
Ø Working experience
(s):
At present, working in SC as deputy general
manager
SC’s registered
business scope includes selling blanket, furniture, hardware, chemicals
(excluding hazardous chemicals), building materials, vehicle parts; storage,
leasing equipment, providing labor services, technical consultation and
services; import and export of various goods and technologies.
SC is mainly
engaged in selling different sorts of rugs.
SC’s products mainly
include accent rugs, nature rugs, hand knotted rugs, hand weave rugs, etc.
SC sources its materials 95% from domestic
market, and 5% from overseas market, mainly Europe. SC sells 5% of its products
in domestic market, and 95% to overseas market, mainly Europe and U.S.A.
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, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 88 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
SC is known to have two
subsidiaries at present,
Tianjin
Shengzhi Carpet Co., Ltd.
Tianjin
Kaipute Textile Co., Ltd.
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.
Basic Bank
China
Construction Bank Beijing Economic & Technological Development Area
Sub-branch
AC#: N/a
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
Long term investment |
22,250 |
|
Total assets |
111,243 |
|
|
------------- |
|
Total
liabilities |
57,041 |
|
Equities |
54,202 |
|
|
------------- |
|
Revenue |
265,905 |
|
Profit before
tax |
8,031 |
|
Less: profit tax |
2,008 |
|
Profits |
6,023 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Liabilities
to assets |
0.51 |
|
*Net profit
margin (%) |
2.27 |
|
*Return on
total assets (%) |
5.41 |
|
*
Revenue/Total assets |
2.39 |
PROFITABILITY:
FAIRLY GOOD
l The revenue of SC
appears fairly good in its line.
l SC’s net profit margin
is average.
l SC’s return on
total assets is fairly good.
LIQUIDITY: FAIRLY
GOOD
l
SC’s revenue is in a fairly good 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 Good.
SC is considered medium-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
-- |
NB |
New Business |
-- |
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.