MIRA
INFORM REPORT
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Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI XPERTICK
INTERNATIONAL CORPORATION |
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Registered Office : |
Room 312, No. 581, Xiuchuan Road, Pudong New Area, Shanghai 201200 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.05.2012 |
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Com. Reg. No.: |
310115001963270 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject is engaged in international trade products mainly include guar
splits, guar gum powder, other specialty chemicals. |
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No. of Employees : |
3 |
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 – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
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 2012 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 under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. 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.
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Source
: CIA |
company name and address
SHANGHAI XPERTICK INTERNATIONAL CORPORATION
ROOM 312, NO. 581, XIUCHUAN ROAD, PUDONG NEW
AREA, SHANGHAI 201200 PR CHINA
TEL: 86 (0) 21-61993458
FAX: 86 (0) 21-60917950
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 3, 2012
REGISTRATION NO. : 310115001963270
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MS. GUO BAOXIA (CHAIRMAN)
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 0 (AS OF DEC. 31, 2012)
EQUITIES :
CNY 70,000 (AS OF DEC. 31, 2012)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.12= 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
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 May 3, 2012.
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 importing and exporting
commodities and technologies; selling ship accessories, mechanical equipment
and accessories, hardware tools, instruments and meters, rubber products,
chemical products and raw materials, hardware, electronic products,
agricultural machinery, edible agricultural products, communications equipment,
office supplies, household items, daily necessities, toys, arts and crafts;
business information consulting. (with permit if needed)
SC is mainly engaged in international trade.
Ms. Guo Baoxia is legal representative, chairman and general manager of
SC at present.
SC is known to have approx. 3 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Shanghai. Our checks
reveal that SC rents the total premise about 60 square meters.
http://www.xpertick.com/
The design is professional and the content is well organized. At present the
web site is in English and Chinese versions.
E-mail: info@xpertick.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
SC started its normal operation in 2013.
For the past one year there is no record of litigation.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Guo Baoxia 60
Wang Junhong 40
Legal
representative, chairman and general manager:
Ms. Guo Baoxia 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 started its normal operation in 2013.
SC is mainly engaged in international trade.
SC’s products mainly include guar splits, guar gum powder, other
specialty chemicals.
SC sources its materials 100% 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 declined
to release its major suppliers and clients.
SC is not known to have the 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.
SC’s accountant refused to release the bank details.
Balance
Sheet
Unit: CNY’000
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As of Dec. 31,
2012 |
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Cash & bank |
150 |
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Inventory |
0 |
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Accounts receivable |
0 |
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Advances to suppliers |
0 |
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Other receivables |
0 |
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Other current assets |
0 |
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------------------ |
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Current assets |
150 |
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Fixed assets net value |
0 |
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Long term investment |
0 |
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Projects under construction |
0 |
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Intangible and other assets |
10 |
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Total assets |
160 |
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=========== |
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Short loan |
0 |
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Accounts payable |
0 |
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Advances from clients |
0 |
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Other Accounts payable |
90 |
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Other current liabilities |
0 |
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Current liabilities |
90 |
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Long term liabilities |
0 |
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Total liabilities |
90 |
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Equities |
70 |
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Total liabilities & equities |
160 |
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Income
Statement
Unit: CNY’000
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As
of Dec. 31, 2012 |
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Turnover |
0 |
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Cost of goods sold |
0 |
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Sales expense |
0 |
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Management expense |
120 |
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Finance expense |
10 |
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Profit before tax |
-130 |
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Less: profit tax |
0 |
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Profits |
-130 |
Important
Ratios
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As of Dec. 31,
2012 |
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*Current ratio |
1.67 |
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*Quick ratio |
1.67 |
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*Liabilities to assets |
0.56 |
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*Net profit margin (%) |
/ |
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*Return on total assets (%) |
-81.25 |
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*Inventory /Turnover ×365 |
/ |
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*Accounts receivable/Turnover ×365 |
/ |
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*Turnover/Total assets |
/ |
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* Cost of goods sold/Turnover |
/ |
SC’s return on total assets is poor.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
SC has no inventory in 2012.
SC has no accounts receivable in 2012.
SC has no short-term loan in 2012.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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 a short operating history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.39 |
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1 |
Rs.94.17 |
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Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.