MIRA
INFORM REPORT
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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO HAOYU INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
Room 304 Building 3 Publishing House, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.09. 2011 |
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Com. Reg. No.: |
370213230054074 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Wholesaling machinery & components, electronic & components, laboratory instrument & equipment, hardware, rubber & plastics, stainless steel products, chemical products, etc. |
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No. of Employees : |
3 |
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RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 (31.03.2011) |
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
Source
: CIA
Company name and address
QINGDAO HAOYU INTERNATIONAL TRADE CO., LTD.
(TRADE NAME:
ROOM 304 BUILDING 3 PUBLISHING HOUSE, NO.
LAOSHAN DISTRICT,
TEL: 86 (0) 532-68066288
FAX: 86 (0) 532-68066288
EXECUTIVE SUMMARY
Date of Registration : september 2, 2011
REGISTRATION NO. : 370213230054074
LEGAL FORM : ONE-PERSON Limited liabilities company
REGISTERED CAPITAL : cny 500,000
staff :
3
BUSINESS CATEGORY : trading
Revenue :
CNY 0 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 494,000 (AS OF DEC. 31, 2011)
WEBSITE : www.china-tongda.com
E-MAIL :
sales@china-tongda.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY –
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
Not yet be determined
LEGAL STATUS & HISTORY
***Note: SC’s current address should be the heading
one, while the given address (No. 100,
According to the given address, we locate SC. SC’s
name should be the heading one, while Shandong Tongda Textile Machinery (Group)
Limited (the given name) is SC’s related company registered in Hong Kong, but
SC also uses this name as its trade name.
SC was established
as one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 370213230054074 on
September 2, 2011.
SC’s Organization Code Certificate No.: 57978402-6
SC’s Tax No.: 370206579784026
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
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:-
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Name of Shareholder (s) |
% of Shareholding |
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Zhao Wei |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Zhao Wei |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zhao Wei 100
MANAGEMENT
Zhao
Wei , Legal Representative, Chairman and General Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2011 to present, working in SC as legal
representative, chairman and general manager
BUSINESS OPERATION
SC started its normal
business in 2012.
SC’s registered business scope includes wholesaling
machinery & components, electronic & components, laboratory instrument
& equipment, hardware, rubber & plastics, stainless steel products,
chemical products, knitting goods & textiles, garment, shoes & hats,
toys, fashion, arts & crafts, grocery, and building & decorating
materials; importing and exporting commodities and technology.
SC is mainly
engaged in international trade.
SC’s products
mainly include:
Blow
Room
Carding
Machine
Draw
Frame
Roving
Frame
Etc.
SC sources its materials 60% from domestic
market, and 40% from overseas market, mainly
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:
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SC is known
to have approx. 3 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Registration
No.: 1610790
Date
of Registration: June 2, 2011
Legal
Form: Private
Status:
Live
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:
Shanghai
Pudong Development Bank
AC#:
69010154740015572
SC refused to release if the given bank
account number (OSA 11443631659855) belongs to SC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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507 |
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Notes receivable |
0 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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Other receivable |
0 |
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Inventory |
0 |
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Non-current
assets within one year |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
507 |
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Fixed assets |
0 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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Long-term
investment |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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Total assets |
507 |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Welfares payable |
3 |
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Taxes payable |
0 |
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Other levies
payable |
10 |
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Advances from
clients |
0 |
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Other payable |
0 |
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Other current
liabilities |
0 |
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Current
liabilities |
13 |
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Non-current
liabilities |
0 |
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Total
liabilities |
13 |
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Equities |
494 |
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Total
liabilities & equities |
507 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2011 |
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Revenue |
0 |
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Cost of sales |
0 |
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Sales expense |
0 |
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Management expense |
5 |
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Finance expense |
1 |
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Profit before
tax |
-6 |
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Less: profit tax |
0 |
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-6 |
Important Ratios
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As of Dec. 31, 2011 |
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*Current ratio |
39.00 |
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*Quick ratio |
39.00 |
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*Liabilities
to assets |
0.03 |
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*Net profit
margin (%) |
-- |
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*Return on
total assets (%) |
-1.18 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable/ Revenue ×365 |
-- |
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* Revenue/Total
assets |
-- |
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* Cost of
sales / Revenue |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
SC has no revenue in 2011.
l
SC’s return on total assets is fair.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
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SC has no inventory.
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SC has no accounts receivable.
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SC has no short-term loans.
LEVERAGE: AVERAGE
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The debt ratio of SC is low.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions
and short business history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.53 |
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1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
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Report
Prepared by : |
PRL |
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 |
-- |
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.