MIRA INFORM REPORT
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Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
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Name : |
KING TANG IMPORT & EXPORT CORPORATION |
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Registered Office : |
Suite No. 1104, Simafang Commercial Flat,
Jintan, Jiangsu Province 213200 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.07.2005 |
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Com. Reg. No.: |
320482000012072 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade |
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No. of Employees
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14 |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
king tang import & export corporation
SUITE NO. 1104,
SIMAFANG COMMERCIAL FLAT, JINTAN
JIANGSU PROVINCE
213200 PR CHINA
TEL: 86 (0)
519-82889716/82880718
FAX: 86 (0)
519-82829298
EXECUTIVE SUMMARY
Date of Registration : JULY 25, 2005
REGISTRATION NO. : 320482000012072
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY 5,000,000
staff : 14
BUSINESS CATEGORY :
TRADING
Revenue : CNY 36,610,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 4,790,000 (AS OF
DEC. 31, 2011)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
20,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.32 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 320482000012072 on July 25, 2005.
SC’s Organization Code Certificate
No.: 77686322-5
SC’s registered capital: CNY 5,000,000
SC’s paid-in capital: CNY 5,000,000
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 |
|
Li Jianjun |
25 |
|
Yan Qingfang |
75 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman,
and General Manager |
Yan
Qingfang |
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Supervisor |
Li
Jianjun |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Li Jianjun 25
Yan Qingfang 75
MANAGEMENT
Yan
Qingfang, Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 40
Ø
ID# 320422197203250111
Ø Qualification:
University
Ø Working experience
(s):
From 2005 to present, working in SC as legal
representative, chairman and general manager
Li
Jianjun, Supervisor
------------------------------------------
Ø
Gender: M
Ø
Age: 37
Ø
ID# 430111197504263717
BUSINESS OPERATION
SC’s registered business scope
includes operating and acting as an agent of importing and exporting
various kinds of commodities and technology, excluding the goods forbidden by
the government; selling chemical raw materials.
SC is
mainly engaged in international trade.
SC’s
products mainly include: chemicals, pharmaceuticals, active pharmaceutical
ingredients, washing machine parts, automotive parts, agro chemicals,
insecticides, pesticides, fungicides, fertilizers, agrochemical intermediates,
etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 10% of its products in domestic
market, and 90% to overseas market, mainly U.S.A., Europe, Southeast Asia, Mid
East, Etc.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 14
staff at present.
SC
rents an area as its operating office of approx. 100 sq. meters at the heading
address.
RELATED COMPANY
SC is not known to have any subsidiary
at present.
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 China
AC#: N/A
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
1,410 |
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Accounts
receivable |
2,130 |
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Advances to
suppliers |
0 |
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Other receivable |
1,030 |
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Inventory |
0 |
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Subsidies
receivable |
700 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
5,270 |
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Fixed assets |
540 |
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Construction in
progress |
0 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
-10 |
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------------------ |
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Total assets |
5,800 |
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============= |
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Short-term loans |
500 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Wages payable |
0 |
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Taxes payable |
0 |
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Advances from
clients |
0 |
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Other payable |
600 |
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Other current
liabilities |
-90 |
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------------------ |
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Current
liabilities |
1,010 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
1,010 |
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Equities |
4,790 |
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------------------ |
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Total
liabilities & equities |
5,800 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2011 |
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Revenue |
36,610 |
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Cost of sales |
33,110 |
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Sales expense |
1,560 |
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Management expense |
960 |
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Finance expense |
950 |
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Profit before
tax |
27 |
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Less: profit tax |
16 |
|
11 |
Important Ratios
=============
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As
of Dec. 31, 2011 |
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*Current ratio |
5.22 |
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*Quick ratio |
5.22 |
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*Liabilities
to assets |
0.17 |
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*Net profit
margin (%) |
0.03 |
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*Return on
total assets (%) |
0.19 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable/ Revenue ×365 |
22 days |
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*
Revenue/Total assets |
6.31 |
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* Cost of
sales / Revenue |
0.90 |
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:
FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
SC has no inventory in 2011.
l
The accounts receivable of SC is maintained in an
average level.
l
SC’s short-term loans are in an average level.
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 low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its
line with fairly stable financial conditions.
A credit line up to USD 20,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.96 |
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|
1 |
Rs.102.91 |
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Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.