MIRA INFORM REPORT
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Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
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Name : |
JINAN RETEK INDUSTRIES INC. |
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Registered Office : |
1-648, Shengkai Fortune Plaza, No. 29 Luoyuan Street, Lixia District, Ji’nan, Shandong Province,
250014 PR |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.08.2010 |
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Com. Reg. No.: |
370100200185843 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is mainly engaged in trading of refrigeration equipment. |
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No of Employees : |
41 |
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 : |
Slow but correct |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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
JINAN RETEK INDUSTRIES INC.
1-648,
ji’nan,
TEL: 86
(0) 531-58661431/58661433/58661430
FAX: 86
(0) 531-86964933
EXECUTIVE SUMMARY
INCORPORATION DATE : aug. 6, 2010
REGISTRATION NO. :
370100200185843
REGISTERED LEGAL FORM : LIMITED LIABILITY COMPANY
STAFF STRENGTH :
41
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 82,190,000 (unaudited, AS OF DEC. 31, 2013)
EQUITIES :
CNY 2,560,000 (unaudited, AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.13 =USD 1
Adopted
abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the
company inquired by you)
NA - not available
CNY -
Note: SC’s complete address should be the
heading one.
SC was registered as a limited liability company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Aug. 6, 2010.
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 wholesaling and retailing
machinery equipment and accessories, electronic products, hardware; import and
export business. (with permit if needed)
SC is mainly
engaged in trading of refrigeration equipment.
Mr.
Ji Liantao is the legal representative, chairman and general manager of SC at
present.
SC is known
to have approx. 41 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Ji’nan. Our checks reveal that SC
rents the total premise, but the gross area is unspecified.
http://www.retekool.com/
This website belongs to SC and its related company “Jinan Bestar Inc.”. The design is professional and the
content is well organized. At present it is in English and other versions.
Email: postmaster@bestarinc.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Subject passed the
annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code: 560751240
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Ji Liantao 30.00
Wang Chunjuan
20.00
Gu Hongling 11.00
Xu Yunyun
4.35
Hao Li’na 4.35
Yue Guodong
3.15
Li Ying
2.60
Yuan Shouxiu
2.45
Zhang Lianxiang
2.20
Zou Zhaoyan
2.20
Other 20 individuals
17.70
l Legal Representative, Chairman and General Manager:
Mr. Ji Liantao, born in 1974, he is currently responsible for the
overall and daily management of SC.
Working Experience(s):
At present Working in SC as legal
representative, chairman and general manager.
*Officials:
=======
Name Title
Wang Chunjuan Director
Xu Yunyun Director
Hao Li’na Director
Gu Hongling Director
Yuan Wenzhong Supervisor
Fan Changhong Supervisor
Wang Aimei Supervisor
SC is mainly
engaged in trading of refrigeration equipment.
SC’s products mainly include compressor, condenser, evaporator, auto AC
parts, refrigeration parts, etc.
SC sources its
materials and products 100% from domestic market. SC sells 100% of its products
to overseas market, mainly to
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’s management declined to release its major suppliers and clients.
Jinan Bestar
Inc.
====================
Registration No.: 370100200003874
Incorporation Date:
Chairman: Wang Chunjuan
Web: http://www.bestarinc.com/
Tel: 86-531-58661443/58661439/58661438
Fax: 86-531-86964933
It is jointly occupying the heading premise with SC.
According to http://www.retekool.com/, SC has the following related companies and offices:
Carlo International Limited (
======================
CR No.: 1277923
Date of Incorporation:
Active Status: Live
Add: Unit A&B 15/F,
Suzhou Retek Industries Inc.
======================
It is also known as Suzhou Retek Mechanical-Electrical Co., Ltd.
Registration No.: 320507000029330
Incorporation Date:
Chairman: Yue Guodong
Add.:
Tel: 0086-512-65716583
Fax: 0086-512-65715583
Branch Offices:
Linyi Office: 0086-13280128382
Yantai Office: 0086-13906387593
Zhaoyuan Office: 15106458319
Heze Office: 15253047809
Etc.
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 bank details.
Balance Sheet
Unit: CNY’000
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as of Dec. 31, 2012 |
as of Dec. 31, 2013 |
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Cash & bank |
1,770 |
270 |
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Inventory |
0 |
10 |
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Accounts receivable |
170 |
0 |
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Advances to
suppliers |
0 |
890 |
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Other
receivables |
860 |
1,190 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
2,800 |
2,360 |
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Fixed assets net
value |
1,330 |
1,260 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
4,130 |
3,620 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
2,480 |
130 |
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Other accounts
payable |
0 |
0 |
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Notes payable |
0 |
0 |
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Taxes payable |
-880 |
-1,610 |
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Advances from
clients |
0 |
2,540 |
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Other payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
1,600 |
1,060 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
1,600 |
1,060 |
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Equities |
2,530 |
2,560 |
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------------------ |
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Total
liabilities & equities |
4,130 |
3,620 |
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============= |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2012 |
as of Dec. 31,
2013 |
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Turnover |
44,620 |
82,190 |
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Cost of goods
sold |
38,910 |
70,930 |
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Sales expense |
2,350 |
5,850 |
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Management expense |
2,550 |
3,900 |
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Finance expense |
150 |
1,010 |
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Non-operating
income |
30 |
60 |
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Non-operating expense |
0 |
0 |
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Profit before
tax |
690 |
560 |
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Less: profit tax |
170 |
0 |
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Profits |
520 |
560 |
Note: The above financial reports for Yr 2013 have not been audited.
Important Ratios
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as
of Dec. 31, 2012 |
as
of Dec. 31, 2013 |
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*Current ratio |
1.75 |
2.23 |
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*Quick ratio |
1.75 |
2.22 |
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*Liabilities
to assets |
0.39 |
0.29 |
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*Net profit
margin (%) |
1.17 |
0.68 |
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*Return on total
assets (%) |
12.59 |
15.47 |
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*Inventory
/Turnover ×365 |
/ |
1 day |
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*Accounts
receivable/Turnover ×365 |
2 days |
/ |
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*Turnover/Total
assets |
10.80 |
22.70 |
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* Cost of
goods sold/Turnover |
0.87 |
0.86 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, and
it increased greatly in 2013.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is good in both years.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is normal.
l
SC’s quick ratio is maintained in a normal level.
l
SC has no inventory in 2012 and its inventory is
small in 2013.
l
SC’s accounts receivable is small in 2012 and it
has no accounts receivable in 2013.
l
SC has no short-term loan in both years.
l
SC’s turnover is good in both years, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
SC is considered medium-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.55 |
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|
1 |
Rs.97.53 |
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Euro |
1 |
Rs.76.48 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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.