MIRA INFORM REPORT
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Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
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Name : |
YOUYUAN INTERNATIONAL HOLDINGS LIMITED |
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Registered Office : |
Cricket Square, Hutchins Drive, Grand Cayman 2681 |
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Country : |
Cayman Islands |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
12.10.2009 |
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Com. Reg. No.: |
232041 |
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Legal Form : |
International Business Company |
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Line of Business : |
Youyuan International Holdings Limited is an International
Business Company incorporated in Bermuda for tax purposes. However, the company does not carry any operation in
Cayman Islands. It is not registered with the Cayman Islands Chamber of
Commerce as being an active business. It is not listed with the Cayman Islands yellow pages. It is not listed with the major local credit bureaus. The company does not have any employee in Cayman Islands.
It uses the registered agent staff. Youyuan International Holdings Limited is an investment
holding company. Offshore Company |
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No. of Employees : |
1,800 |
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 : |
International Business Company Limited
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Cayman Islands |
A1 |
A1 |
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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 |
CAYMAN ISLANDS - ECONOMIC OVERVIEW
With no direct taxation, the
islands are a thriving offshore financial center. More than 93,000 companies
were registered in the Cayman Islands as of 2008, including almost 300 banks,
800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997.
Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign
currency earnings. The tourist industry is aimed at the luxury market and
caters mainly to visitors from North America. Total tourist arrivals exceeded
1.9 million in 2008, with about half from the US. Nearly 90% of the islands'
food and consumer goods must be imported. The Caymanians enjoy a standard of
living comparable to that of Switzerland
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
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IDENTIFICATION |
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Ordered as: |
Youyuan International Holdings Limited |
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Address in the order: |
(HKSE: 2268) Cricket Square, Hutchins Drive Grand Cayman KY1-1111 |
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Legal Name: |
YOUYUAN INTERNATIONAL HOLDINGS LIMITED |
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Legal Address |
Cricket Square, Hutchins Drive. |
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Postal Town |
Grand Cayman |
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Post Code |
2681 |
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Primary Geographic Area |
N.A. |
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Country |
KY |
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Operative Address |
Cricket Square, Hutchins Drive, Grand Cayman, Cayman Islands. (Registered
Agent) |
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Mailing Address |
Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111,
Cayman Island. |
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Telephone: |
+1 (345) 949 1040 (Registered
Agent) |
Registration Number: |
232041 |
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Fax: |
+1 (345) 949 1048 (Registered Agent) |
Legal Form: |
International Business Company |
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Email: |
cayman@conyersdill.com (Registered Agent) |
Registered in: |
KY |
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Website: |
www.youyuan.com.hk |
Date Created: |
2009 |
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MANAGERS: |
Wentuo Ke (Executive Charmain of Board) |
Date Incorporated: |
October 12, 2009 |
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Staff: |
0 |
Stock: |
1 100 000 000 |
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Value: |
HKD 1 850 000 000 |
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Activity: |
Offshore Company. |
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DIRECTORS/MANAGEMENT
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Management: |
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It is locally managed by the registered agent mentioned
above. Overseas, officers and directors Wentuo Ke Executive
Chairman of the Board Jixiong Ke Chief
Executive Officer, Executive Director Yat Sum Wong Chief
Financial Officer, Company Secretary, Authorised
Representative Xu Cao Executive Director Guoduan Zhang Executive
Director Changxing Chen Manager
- Research and Development Centre Taibin Chen Manager
- Human Resources Department of Youlanfa Hongchi Ke Group
Sales Manager Chunxiang Liao Deputy
General Manager of Huaxiang Wenfeng Lin Assistant
to the Chairman |
NEGATIVE
INFORMATION
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Legal Fillings |
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There are various claims, lawsuits, and pending actions against
the Company and its subsidiaries incident to the operations of its
businesses. It is the opinion of management, after consultation with counsel,
that the ultimate resolution of such claims, lawsuits and pending actions
will not have a material adverse effect on the Company's consolidated
financial position, results of operations or liquidity. It is to be noted that investors may face difficulties in
enforcing proceedings against Signet Jewelers Limited as it is domiciled in
Cayman Islands. It is doubtful whether courts in Bermuda would enforce
judgments obtained by investors in other jurisdictions, including the US and
the UK, against the Company or its directors or officers under the securities
laws of those jurisdictions or entertain actions in Bermuda against the
Company or its directors or officers under the securities laws of other
jurisdictions. |
SHARE
& SHARE CAPITAL INFORMATION
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Shareholders Parent Company(ies): |
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-Smart Port: 55.01% -Ms Cai Lishuang: 57.38% -Cathay Special Paper Limited: 8.84% |
PAYMENT
INFORMATION
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DEBT COLLECTIONS AND PAYMENTS |
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Public |
NO |
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Payments |
REGULAR |
GROUP
STRUCTURE & AFFILIATED COMPANIES
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RELATED COMPANIES: |
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-Xi Yuan Paper Limited. -Sunwell Trading (HK) Company Limited. -Quanzhou Huaxiang Paper Industry Co., Ltd. -Youlanfa Paper Co., Ltd., among others. |
FINANCIAL
INFORMATION
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FINANCIALS - COMMERCIAL TRENDS
AND FORECAST |
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The subject is a public company traded at the stock exchange.
Please find enclosed the financial statements. |
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Currency |
DATE |
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RMB |
2014 (June 30) |
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Turnover |
711 983 000 |
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Operating Income |
141 921 000 |
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Net Income |
132 577 000 |
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Current Assets |
1 547 229 000 |
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Fixed Assets |
2 444 841 000 |
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Net worth |
2 226 820 000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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RMB |
2013 |
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Turnover |
741 437 000 |
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Operating Income |
367 288 000 |
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Net Income |
131 077 000 |
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Current Assets |
1 081 112 000 |
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Fixed Assets |
2 393 460 000 |
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Net worth |
2 148 243 000 |
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The cash flow is |
Normal |
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Profitability |
GOOD |
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Indebtedness |
CONTROLLED |
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Cash |
NORMAL |
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
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BANKS |
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Name of the Bank |
China CITIC Bank International Limited |
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Location |
China |
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Comments |
This information could not be verified with the subject
company. |
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Name of the Bank |
Bank of China |
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Location |
China |
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Comments |
This information could not be verified with the subject
company. |
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Name of the Bank |
Royal Bank of Canada Trust Company |
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Location |
Cayman Island |
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Comments |
This information could not be verified with the subject
company. |
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BUSINESS HISTORY |
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The company was incorporated in the Cayman Islands as an
exempted company with limited liability on 12 October 2009, under the Companies Law, Cap 22 (Law 3 of 1961, as consolidated and
revised) of the Cayman Islands. |
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PRINCIPAL ACTIVITY |
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Youyuan International Holdings Limited is an International
Business Company incorporated in Bermuda for tax purposes. However, the company does not carry any operation in
Cayman Islands. It is not registered with the Cayman Islands Chamber of
Commerce as being an active business. It is not listed with the Cayman Islands yellow pages. It is not listed with the major local credit bureaus. The company does not have any employee in Cayman Islands.
It uses the registered agent staff. Youyuan International Holdings Limited is an investment
holding company. |
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Products/Services description: |
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Overseas, the Company operates in four segments:
double-sided machine finished (MF) tissue paper is engaged in manufacturing
and trading of double-sided MF tissue paper; single-sided MF tissue paper is
engaged in manufacturing and trading of single-sided MF tissue paper; copy
paper is engaged in manufacturing and trading of copy paper, and other
products is engaged in manufacturing and trading of paper towels and ivory
boards. |
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Trade References: |
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In virtue of the nature of its business activities its
local transactions are seldom. Therefore, commercial sources consulted in the
marketplace report that they are unable to establish subject's payment
performance and general reputation regarding commitments contracted as same
it is UNKNOWN as making use of credit facilities. |
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The subject employs 0 employee(s) |
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Comments on staff: |
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The company does not have any employees in Cayman Islands. Overseas, it has about 1,800 employees. |
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LOCATION |
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Headquarters |
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The Address mentioned above is that of the registered
agent: Conyers Dill & Pearman Limited Cricket Square, Hutchins Drive, Grand Cayman, Cayman
Islands. |
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Branches: |
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-China Head Office Address: Xibin Industrial Zone Jinjiang City Fujian Province The People’s Republic of China Tel: 86 595 - 82019598 -Hong Kong Office Address: Unit 1601 Bonham Trade Centre 50 Bonham Strand Sheung Wan, Hong Kong Tel: 852 - 2868
5656 Website: www.youyuan.com.hk Email: ir@youyuan.com.hk |
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Listed at the stock exchange: |
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YES |
NOTES
& COMMENTS
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Final Opinion |
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We are reporting an offshore company which belongs to
foreign shareholders. Although it is registered in Cayman Island, it uses such
territory only as its legal and administrative address, but all its
operations are carried out abroad. It is managed by a resident registration agent, Conyers
Dill & Pearman Limited, and it is unknown in the marketplace, so its
commercial morality and general reputation cannot be assessed, although
nothing detrimental is noted upon subject. However, the company is publicly traded at the NYSE and
the London Stock Exchange. The figures available show a good evolution, with
increasing revenue, and controlled indebtedness. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.61 |
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1 |
Rs.99.11 |
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Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.