MIRA INFORM REPORT
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Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
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Name : |
BEIJING INFOARK CO., LTD. |
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Registered Office : |
Room 810, New Land Plaza, No. 58 Fucheng Road, Haidian
District, Beijing, 100036 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
31.07.2003 |
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Com. Reg. No.: |
110108005879653 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling prepackaged food; technical development;
technical transfer; selling cultural products, arts & crafts, daily
necessaries, chemicals, hardware, building materials, auto parts and
electronic products |
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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 : |
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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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 |
CHINA ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major
global role - in 2010 China became the world's largest exporter. Reforms began
with the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, growth of the private sector, development of stock
markets and a modern banking system, and opening to foreign trade and
investment. China has implemented reforms in a gradualist fashion. In recent
years, China has renewed its support for state-owned enterprises in sectors
considered important to "economic security," explicitly looking to foster
globally competitive industries. After keeping its currency tightly linked to
the US dollar for years, in July 2005 China moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation and expanded the daily trading band within which the RMB
is permitted to fluctuate. The restructuring of the economy and resulting
efficiency gains have contributed to a more than tenfold increase in GDP since
1978. Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2013 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's
agricultural and industrial output each exceed those of the US; China is second
to the US in the value of services it produces. Still, per capita income is
below the world average. The Chinese government faces numerous economic
challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic consumption; (b) facilitating higher-wage job
opportunities for the aspiring middle class, including rural migrants and
increasing numbers of college graduates; (c) reducing corruption and other
economic crimes; and (d) containing environmental damage and social strife related
to the economy's rapid transformation. Economic development has progressed
further in coastal provinces than in the interior, and by 2011 more than 250
million migrant workers and their dependents had relocated to urban areas to
find work. One consequence of population control policy is that China is now
one of the most rapidly aging countries in the world. Deterioration in the
environment - notably air pollution, soil erosion, and the steady fall of the
water table, especially in the North - is another long-term problem. China
continues to lose arable land because of erosion and economic development. The
Chinese government is seeking to add energy production capacity from sources
other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang
from its credit-fueled stimulus program, industrial overcapacity, inefficient
allocation of capital by state-owned banks, and the slow recovery of China's
trading partners. The government's 12th Five-Year Plan, adopted in March 2011
and reiterated at the Communist Party's "Third Plenum" meeting in
November 2013, emphasizes continued economic reforms and the need to increase
domestic consumption in order to make the economy less dependent in the future
on fixed investments, exports, and heavy industry. However, China has made only
marginal progress toward these rebalancing goals. The new government of
President XI Jinping has signaled a greater willingness to undertake reforms
that focus on China's long-term economic health, including giving the market a
more decisive role in allocating resources
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Source
: CIA |
Company
name and address
BEIJING INFOARK CO.,
LTD.
ROOM 810, NEW LAND PLAZA, NO. 58 FUCHENG ROAD, HAIDIAN DISTRICT,
BEIJING, 100036 PR CHINA
TEL: 86 (0) 10-51668333
FAX: 86 (0) 10-88152455
EXECUTIVE
SUMMARY
INCORPORATION DATE : JULy 31, 2003
REGISTRATION NO. : 110108005879653
REGISTERED LEGAL FORM
: LIMITED liabilities COMPANY
CHIEF EXECUTIVE : mr. zheng changqing (CHAIRMAN)
STAFF STRENGTH : 20
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 68,670,000
(UNAUDITED, As of Dec. 31, 2013)
EQUITIES : CNY 8,910,000
(UNAUDITED, As of Dec. 31, 2013)
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25= 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 Ren Min Bi
Note: SC is also known as Beijing Infoark Technology Development Co., Ltd.
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on July 31, 2003.
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 prepackaged food; technical development; technical transfer; selling cultural products, arts & crafts, daily necessaries, chemicals, hardware, building materials, auto parts and electronic products; importing and exporting commodities and technologies, import and export agent.
SC is mainly engaged in selling pharmaceutical chemicals.
Mr. Zheng Changqing has been legal representative, chairman and general manager of SC since 2013.
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 Beijing. Our checks reveal that SC rents the total premise about 300 square meters.
http://www.infoark.com.cn The design is professional and the content is well organized. At present it is in both Chinese and English versions.
E-Mail: intermediate@infoark.com.cn
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2008 |
Registration No. |
1101082587965 |
Present one |
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Shareholders |
Tian Lei 80% Zhang Wenqi 20% |
Tian Lei 98% Zhang Wenqi 2% |
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Registered Capital |
CNY 1,000,000 |
present amount |
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2011 |
Shareholders |
Tian Lei 98% Zhang Wenqi 2% |
Aibiaihe (Beijing) Pharmaceutical Technology Development Co., Ltd. 15% Tian Lei 68.69% Zhang Wenqi 2% Niu Siping 5.845% Ye Yuanzan 8.465% |
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2013-1-25 |
Legal representative |
Tian Lei |
Present one |
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Shareholders |
Aibiaihe (Beijing) Pharmaceutical Technology Development Co., Ltd. 15% Tian Lei 68.69% Zhang Wenqi 2% Niu Siping 5.845% Ye Yuanzan 8.465% |
Present ones |
Subject passed the annual inspection of 2012 with Administration for Industry & Commerce.
Tax Registration Certificate No.: 11010875260494X
Organization Code: 75260494X
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name % of Shareholding
Zheng Changqing 98
Shi Xiaofei 2
Legal representative,
Chairman and General manager:
Mr. Zheng Changqing is currently responsible for the overall management of SC.
Working Experience(s):
From 2013 to present Working in SC as legal representative, chairman and general manager.
Supervisor:
Shi Xiaofei
SC is mainly engaged in selling pharmaceutical chemicals.
SC’s products mainly include: raw medical materials, medicine intermediates, food additives, and health-care nutriment raw materials.
SC sources its materials 20% from domestic market, and 80% from overseas market. SC sells 70% of its products in domestic market, and 30% to the overseas market.
The buying terms of SC include Check, 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.
Note: SC declined 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.
Bank of Communications Beijing Branch
AC#：120066021018010035714
Relationship: Normal
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2013 |
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Cash & bank |
/ |
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Inventory |
/ |
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Accounts receivable |
/ |
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Advances to suppliers |
/ |
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Other receivables |
/ |
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Other current assets |
/ |
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------------------ |
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Current assets |
35,790 |
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Fixed assets net value |
/ |
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Long term investment |
/ |
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Projects under construction |
/ |
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Intangible and other assets |
/ |
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------------------ |
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Total assets |
36,880 |
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=========== |
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Short loan |
/ |
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Accounts payable |
/ |
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Bills payable |
/ |
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Advances from clients |
/ |
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Other Accounts payable |
/ |
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Other current liabilities |
/ |
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------------------ |
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Current liabilities |
27,970 |
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Long term liabilities |
0 |
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------------------ |
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Total liabilities |
27,970 |
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Equities |
8,910 |
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------------------ |
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Total liabilities & equities |
36,880 |
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=========== |
Note: SC’s management refused to release the detail of its Balance Sheet for Yr2013.
Income Statement
Unit: CNY’000
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As of Dec. 31, 2013 |
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Turnover |
68,670 |
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Cost of goods sold |
62,250 |
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Taxes and additional of main operation |
90 |
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Sales expense |
1,990 |
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Management expense |
2,320 |
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Finance expense |
2,042 |
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Non-operating income |
30 |
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Non-operating expense |
4 |
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Profit before tax |
4 |
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Less: profit tax |
1 |
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Profits |
3 |
Note: The Financial Report for Year 2013
hasn’t been audited.
Important Ratios
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As of Dec. 31, 2013 |
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*Current ratio |
1.28 |
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*Quick ratio |
/ |
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*Liabilities to assets |
0.76 |
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*Net profit margin (%) |
0.004 |
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*Return on total assets (%) |
0.01 |
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*Inventory /Turnover ×365 |
/ |
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*Accounts receivable/Turnover ×365 |
/ |
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*Turnover/Total assets |
1.86 |
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* Cost of goods sold/Turnover |
0.91 |
PROFITABILITY: AVERAGE
The
turnover of SC appears average in its line.
SC’s net
profit margin is average.
SC’s return
on total assets is average.
SC’s cost
of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: AVERAGE
The current
ratio of SC is maintained in a normal level.
SC’s
turnover is in an average level, comparing with the size of its total assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.101.32 |
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Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.