MIRA
INFORM REPORT
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Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
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Name : |
LONYE
TECHNOLOGY LIMITED |
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Registered Office : |
Room B401, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
24.03.2008 |
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Com. Reg. No.: |
440106000481816 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Wholesale & retail trade; importing and exporting commodities and
technology. |
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No of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
|
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
LONYE TECHNOLOGY
LIMITED
ROOM B401, NO.
13 TANGDONG EAST ROAD, TIANHE DISTRICT
GUANGZHOU,
GUANGDONG PROVINCE 510665 PR CHINA
TEL: 86 (0)
20-84810183
FAX: 86 (0)
20-84811566
EXECUTIVE SUMMARY
DATE OF REGISTRATION :
MARCH 24, 2008
REGISTRATION NO. :
440106000481816
LEGAL FORM :
ONE-PERSON LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
ZHAO YAN (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 500,000
STAFF :
4
BUSINESS CATEGORY :
TRADING
REVENUE :
CNY 52,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 410,000 (AS OF DEC. 31, 2013)
WEBSITE :
WWW.LONYETECH.COM
E-MAIL :
LONYE@LONYETECH.COM
& SALES@LONYETECH.COM
& TECH@LONYETECH.COM
PAYMENT :
AVERAGE
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
POOR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION :
FAIR
EXCHANGE RATE :
CNY 6.12 = USD 1
CREDIT OPINION
Our credit scoring system indicates the following credit scores.
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 one-person limited liabilities company of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.:
440106000481816 on March 24, 2008.
SC’s Organization Code Certificate No.: 67345314-3
SC’s Tax No.: 440100673453143
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration Change Record:-
|
Date |
Change of
Contents |
Before the
change |
After the change |
|
-- |
Registration No. |
4401262014014 |
440106000481816 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Zhao Yan |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Zhao Yan |
|
Supervisor |
Zhou Min |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Zhao Yan 100
MANAGEMENT
Zhao Yan, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------
Gender: F
Age: 37
ID# 140202197701250528
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Zhou Min, Supervisor
-------------------------------------
Gender: F
Qualification: University
BUSINESS
OPERATION
SC’s registered business scope includes wholesale & retail trade;
importing and exporting commodities and technology.
SC is mainly engaged in international trade.
SC’s products
mainly include:
Crop Protection
Insecticide
Herbicide
Fungicide
Rodenticide
Plant Growth Regulator
Foliar Fertilizer
Feed Additive
Drug Additive
Feedstuff Colorants
Functional Additive
Feed enzyme
Antioxidant
Chemical intermediates
Trimethyl orthoacetate
Triethyl orthoacetate
Trimethyl orthoformate
Trimethyl orthopropionate
Triethyl orthopropionate
Trimethyl orthobutyrate
Trimethyl orthovalerate
Trimethyl orthoisobutyrate
SC sources its products 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% to overseas market, mainly Southeast Asia,
etc.
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.
Staff & Office:
--------------------------
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
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
416 |
388 |
259 |
241 |
|
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Accounts receivable |
40 |
40 |
0 |
9 |
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Advances to suppliers |
0 |
0 |
0 |
0 |
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Export tax rebate receivable |
0 |
0 |
0 |
0 |
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Other receivable |
0 |
0 |
160 |
160 |
|
Inventory |
0 |
0 |
0 |
0 |
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Deferred expense |
0 |
0 |
0 |
0 |
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Non-current assets within one year |
0 |
0 |
0 |
0 |
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Other current assets |
0 |
0 |
0 |
0 |
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------------------ |
------------------ |
------------------ |
------------------ |
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Current assets |
456 |
428 |
419 |
410 |
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Fixed assets |
0 |
0 |
0 |
0 |
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Construction in progress |
0 |
0 |
0 |
0 |
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Intangible assets |
0 |
0 |
0 |
0 |
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Long-term investment |
0 |
0 |
0 |
0 |
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Deferred income tax assets |
0 |
0 |
0 |
0 |
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Other non-current assets |
0 |
0 |
0 |
0 |
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------------------ |
------------------ |
------------------ |
------------------ |
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Total assets |
456 |
428 |
419 |
410 |
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============= |
============= |
============= |
============= |
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Short-term loans |
0 |
0 |
0 |
0 |
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Notes payable |
0 |
0 |
0 |
0 |
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Accounts payable |
0 |
0 |
0 |
0 |
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Wages payable |
1 |
0 |
0 |
0 |
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Taxes payable |
1 |
0 |
1 |
0 |
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Advances from clients |
0 |
0 |
0 |
0 |
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Other payable |
0 |
0 |
0 |
0 |
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Other current liabilities |
0 |
0 |
0 |
0 |
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------------------ |
------------------ |
------------------ |
------------------ |
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Current liabilities |
2 |
0 |
1 |
0 |
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Non-current liabilities |
0 |
0 |
0 |
0 |
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------------------ |
------------------ |
------------------ |
------------------ |
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Total liabilities |
2 |
0 |
1 |
0 |
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Equities |
454 |
428 |
418 |
410 |
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------------------ |
------------------ |
------------------ |
------------------ |
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Total liabilities & equities |
456 |
428 |
419 |
410 |
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============= |
============= |
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
Revenue |
73 |
49 |
62 |
52 |
|
Cost of sales |
30 |
12 |
1 |
2 |
|
Taxes and surcharges |
0 |
0 |
0.2 |
0 |
|
Sales expense |
0 |
0 |
0 |
3 |
|
Management expense |
50 |
63 |
66 |
55 |
|
Finance expense |
0 |
0 |
0 |
0 |
|
Profit before tax |
-7 |
-25 |
-8 |
-7 |
|
Less: profit tax |
2 |
1 |
1 |
1 |
|
-9 |
-26 |
-9 |
-8 |
Important Ratios
=============
|
|
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
*Current ratio |
228.00 |
-- |
419.00 |
-- |
|
*Quick ratio |
228.00 |
-- |
419.00 |
-- |
|
*Liabilities to assets |
0.004 |
-- |
0.002 |
-- |
|
*Net profit margin (%) |
-12.33 |
-53.06 |
-14.52 |
-15.38 |
|
*Return on total assets (%) |
-1.97 |
-6.07 |
-2.15 |
-1.95 |
|
*Inventory / Revenue ×365 |
-- |
-- |
-- |
-- |
|
*Accounts receivable / Revenue ×365 |
200 days |
298 days |
-- |
64 days |
|
*Revenue / Total assets |
0.16 |
0.11 |
0.15 |
0.13 |
|
*Cost of sales / Revenue |
0.41 |
0.24 |
0.02 |
0.04 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears poor in four years.
SC’s net profit margin is poor.
SC’s return on total assets is fair.
SC’s cost of sales is low, comparing with its revenue.
LIQUIDITY: POOR
SC has no inventory.
The accounts receivable of SC appears average in 2013.
SC has no short-term loans.
SC’s revenue is in a poor level, comparing with the size of its total
assets.
LEVERAGE: POOR
The debt ratio of SC is low.
The risk for SC to go bankrupt is fairly high.
Overall financial condition of the SC: Poor.
CONCLUSIONS
SC is considered small-sized in its line with poor financial conditions.
Great caution is required in providing credit to SC & C.O.D. is
recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.