MIRA INFORM REPORT
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Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
13.08.2009 |
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Com. Reg. No.: |
330181000143069 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and Exporting Commodities and Technology. |
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No of Employees : |
4 |
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 : |
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 – 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 |
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
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Source
: CIA |
Company name & address
HANGZHOU DEPHONE IMPORT AND
EXPORT CO., LTD.
ZHAOJIADUN VILLAGE, SHUSHAN STREET, XIAOSHAN DISTRICT
HANGZHOU, ZHEJIANG PROVINCE 311203 PR CHINA
TEL: 86 (0) 571-82763628/82368017/82368025/82765108
FAX: 86 (0) 571-82761088
EXECUTIVE SUMMARY
Date of Registration : august 13, 2009
REGISTRATION NO. : 330181000143069
LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
pan xingjuan (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 5,000,000
staff :
4
BUSINESS CATEGORY : trading
REVENUE :
CNY 820,000 (JAN. 1, 2014 TO
MAR. 31, 2014)
EQUITIES :
CNY 4,920,000 (AS OF MAR. 31, 2014)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.19 = 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.:
330181000143069 on August 13, 2009.
SC’s Organization Code Certificate No.:
69173631-5
SC’s Tax No.: 330181691736315
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:-
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Name of Shareholder (s) |
% of Shareholding |
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Pan Xingjuan |
30 |
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Shi Limin |
70 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman and General Manager |
Pan Xingjuan |
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Supervisor |
Shi Limin |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Pan Xingjuan 30
Shi Limin 70
MANAGEMENT
Pan Xingjuan, Legal Representative, Chairman and General
Manager
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Gender: F
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Shi Limin , Supervisor
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Gender: M
BUSINESS OPERATION
SC’s registered business scope includes importing and
exporting commodities and technology.
SC is mainly engaged in international trade.
SC’s products mainly include: auto parts
SC sources its products 100% from domestic market. SC sells 20% of its
products in domestic market, and 80% to overseas market, mainly U.S.A.,
Southeast Asia
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.
*Major Client*
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Trans-World Distributing Ltd.
Staff &
Office:
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SC is known to have approx. 4
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
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
The bank information of SC is not filed in local SAIC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As of Dec. 31,
2013 |
As of Mar. 31,
2014 |
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98 |
34 |
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Notes receivable |
0 |
0 |
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Accounts receivable |
170 |
400 |
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Advances to suppliers |
0 |
0 |
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Other receivable |
3,950 |
4,150 |
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Inventory |
330 |
320 |
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Non-current assets within one year |
0 |
0 |
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Other current assets |
352 |
346 |
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Current assets |
4,900 |
5,250 |
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Fixed assets |
0 |
0 |
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Construction in progress |
0 |
0 |
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Intangible assets |
0 |
0 |
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Long-term investment |
0 |
0 |
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Deferred income tax assets |
0 |
0 |
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Other non-current assets |
0 |
0 |
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Total assets |
4,900 |
5,250 |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
-80 |
300 |
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Welfares payable |
0 |
0 |
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Taxes payable |
-4 |
0 |
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Advances from clients |
0 |
0 |
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Other payable |
14 |
14 |
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Other current liabilities |
0 |
16 |
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Current liabilities |
-70 |
330 |
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Non-current liabilities |
0 |
0 |
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Total liabilities |
-70 |
330 |
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Equities |
4,970 |
4,920 |
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Total liabilities & equities |
4,900 |
5,250 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2013 |
Jan. 1, 2014 to
Mar. 31, 2014 |
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Revenue |
4,780 |
820 |
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Cost of sales |
4,410 |
790 |
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Sales expense |
220 |
30 |
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Management expense |
98 |
20 |
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Finance expense |
0 |
0 |
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Profit before tax |
-53 |
-30 |
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Less: profit tax |
0 |
0 |
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-53 |
-30 |
Important Ratios
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As of Dec. 31, 2013 |
As of Mar. 31, 2014 |
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*Current ratio |
-70.00 |
15.91 |
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*Quick ratio |
-65.29 |
14.94 |
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*Liabilities to assets |
-0.01 |
0.06 |
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*Net profit margin (%) |
-1.11 |
-3.66 |
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*Return on total assets (%) |
-1.08 |
-0.57 |
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*Inventory / Revenue ×365/90 |
26 days |
36 days |
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*Accounts receivable / Revenue ×365/90 |
13 days |
44 days |
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*Revenue / Total assets |
0.98 |
0.16 |
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*Cost of sales / Revenue |
0.92 |
0.96 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears fair in its line.
SC’s net profit margin is fair.
SC’s return on total assets is fair.
SC’s cost of sales is fairly high, comparing with its revenue.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
The inventory of SC appears average.
The accounts receivable of SC appears average.
SC has no short-term loans.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is low.
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.41 |
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1 |
Rs.99.31 |
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Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
TPT |
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.