MIRA INFORM REPORT
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Report Date : |
15.12.2014 |
IDENTIFICATION DETAILS
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Name : |
AGROHAO COMPANY LIMITED |
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Registered Office : |
Room 601, Building 1, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.11.2007 |
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Com. Reg. No.: |
310112000798432 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Subject is engaged in wholesale chemical products, importing and exporting goods and technologies. (with permit if needed). |
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No of Employees : |
20 |
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 : |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
Since the late 1970s
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Source
: CIA |
COMPANY NAME & ADDRESS
ROOM 601, BUILDING 1, GREEN LAND TECHNOLOGY SQUARE, LANE 58 XINJIAN EAST
ROAD, MINHANG DISTRICT, SHANGHAI, 201199 PR CHINA
TEL: 86 (0) 21-34120555 FAX: 86
(0)21-54135819
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOV. 29, 2007
REGISTRATION NO. :
310112000798432
REGISTERED LEGAL FORM :
LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. LI HAO (CHAIRMAN)
STAFF STRENGTH :
20
REGISTERED CAPITAL :
CNY 2,300,000
BUSINESS LINE : TRADING
TURNOVER : CNY 238,050,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 8,950,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.15= 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 Nov. 29, 2007.
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 wholesale chemical
products, importing and exporting goods and technologies. (with permit if
needed).
SC is mainly engaged in selling chemical
products.
Mr. Li Hao is
legal representative & chairman of SC at present.
SC is known to have approx. 20 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. SC refused to release the detailed information of the premise.
www.agrohao.com The design is
professional and the content is well organized. At present it is in English
version.
Email: hao@agrohao.com
No significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 669376800
Tax No.: 310112669376800
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount (CNY) % of Shareholding
Li Hao 2,100,000 91.30
Zheng Zhu 200,000
8.70
l
Legal representative & Chairman:
Mr. Li Hao is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
l
Supervisor:
Zheng Zhu
SC is mainly
engaged in selling chemical products.
SC’s products mainly include insecticides, fungicides, herbicides, plant
growth regulators, etc.
SC sources its materials 100% from domestic market. SC sells 20% of its products in domestic market
and 80% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its major suppliers and clients.
SC is not known to have any 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 declined to
release its banking details.
Balance Sheet
Unit: CNY’000
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as of Dec. 31, 2013 |
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Cash
& bank |
58,590 |
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Inventory |
18,820 |
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Accounts
receivable |
14,670 |
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Other
receivables |
3,370 |
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Advances to
suppliers |
0 |
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Other
current assets |
0 |
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------------------ |
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Current
assets |
95,450 |
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Fixed
assets net value |
490 |
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Projects
under construction |
0 |
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Intangible
assets |
0 |
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Long
term investment |
0 |
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------------------ |
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Total
assets |
95,940 |
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============= |
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Short
loans |
5,100 |
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Note
payable |
58,500 |
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Accounts
payable |
15,890 |
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Advances from
clients |
-30 |
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Tax payable |
-1,960 |
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Accrued
payroll |
0 |
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Other
payable |
9,490 |
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Other
current liabilities |
0 |
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------------------ |
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Current
liabilities |
86,990 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
86,990 |
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Equities |
8,950 |
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------------------ |
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Total
liabilities & equities |
95,940 |
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============= |
Income Statement
Unit: CNY’000
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as
of Dec. 31, 2013 |
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Turnover |
238,050 |
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Cost of goods
sold |
219,240 |
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Taxes
and additional of main operation |
10 |
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Sales expense |
13,530 |
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Management expense |
2,800 |
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Finance expense |
-110 |
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Non-operation
income |
380 |
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Non-operation expense |
40 |
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Profit before
tax |
2,920 |
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Less: profit tax |
780 |
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Profits |
2,140 |
Important Ratios
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as of Dec. 31, 2013 |
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*Current ratio |
1.10 |
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*Quick ratio |
0.88 |
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*Liabilities
to assets |
0.91 |
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*Net profit
margin (%) |
0.90 |
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*Return on
total assets (%) |
2.23 |
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*Inventory
/Turnover ×365 |
29
days |
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*Accounts
receivable/Turnover ×365 |
22 days |
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*Turnover/Total
assets |
2.48 |
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* Cost of
goods sold/Turnover |
0.92 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good
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 goods sold is average,
comparing with its turnover.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in
a normal level.
l
SC’s quick ratio is maintained in a
normal level.
l
The inventory
of SC appears average in 2013.
l
The accounts receivable of SC appears
average in 2013.
l SC’s
short-term loan is fairly large in 2013.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is high.
l
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 fairly stable financial
conditions. Taking into consideration of SC’s general performance and operation
size.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.44 |
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1 |
Rs. 98.15 |
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Euro |
1 |
Rs. 77.38 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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Report Prepared
by : |
DPT |
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.