MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
HENAN PREMTEC ENTERPRISE CORPORATION |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.08.2006 |
|
|
|
|
Com. Reg. No.: |
410000100024705 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Selling chemical
products, paper, stationery, ceramics, agricultural and by-products, building
materials and electronic products; importing and exporting commodities and
technologies. |
|
|
|
|
No of Employees : |
35 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Since the late 1970s
|
Source
: CIA |
COMPANY NAME & ADDRESS
HENAN PREMTEC ENTERPRISE
CORPORATION
NO. 101 NANYANG ROAD,
TEL: 86 (0) 371-69067080
FAX: 86 (0) 371-69067193
EXECUTIVE SUMMARY
Date of Registration : august 30, 2006
REGISTRATION NO. : 410000100024705
LEGAL FORM : one-person Limited Liability Company
REGISTERED
CAPITAL : CNY 10,000,000
staff :
35
BUSINESS CATEGORY : TRADING
Revenue :
CNY 15,200,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 3,810,000 (AS OF DEC. 31, 2013)
WEBSITE : www.premtec.com.cn
E-MAIL :
info@premtec.com.cn
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : FAIR
FINANCIAL
CONDITION : fair
OPERATIONAL
TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
CNY 6.15 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company (the company inquired by
you)
N/A – Not available
CNY –
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 on August 30, 2006. However, SC changed to
present legal form, and was registered as one-person limited liabilities
company of PRC with State Administration of Industry & Commerce (SAIC)
under registration No.: 410000100024705
in October 11, 2012.
SC’s Organization Code Certificate No.:
79321487-6
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2008-1-27 |
Registration
No. |
4100002011447 |
410000100024705 |
|
2012-10-11 |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
|
Registered
Capital |
CNY 5,000,000 |
CNY 10,000,000 |
|
|
Shareholder (s)
(% of Shareholding) |
Liu Yongjun 90% Liu Yongqian 10% |
Liu Yongjun 100% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Liu Yongjun |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Liu Yongjun |
|
Supervisor |
Liu Yongqian |
RECENT DEVELOPMENT
SC has got the certificate ISO9001.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Liu Yongjun 100
MANAGEMENT
Liu Yongjun, Legal Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2006 to present, working in SC as legal representative,
chairman and general manager
Liu Yongqian,
Supervisor
---------------------------------------------
Ø
Gender: M
BUSINESS OPERATION
SC’s registered
business scope includes selling chemical products, paper, stationery, ceramics,
agricultural and by-products, building materials and electronic products;
importing and exporting commodities and technologies.
SC is mainly
engaged in selling chemical products.
SC’s products
mainly include: lithopone, oxalic acid, poly aluminum chloride
SC sources its products 100% from domestic
market, mainly
The buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include L/C and Credit of 30-60 days.
*Major Customers:
==============
Productos Plasticos Sirena SA
Damatecnica Ingenieros Ltda.
Adheplast
Corporacion Rivera Y Cia SAC
*Major Supplier:
============
Puyang Pengxin Chemical Co., Ltd.
Staff & Office:
--------------------------
SC is known
to have approx. 35 staff at
present.
SC owns an area as
its operating office of approx. 550 sq. meters at the heading address.
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’s supplier
refused to make any comments.
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
Basic Bank:
Bank of Communications
AC#: 411060500018180142427
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2013 |
|
250 |
|
|
Notes receivable |
0 |
|
Accounts
receivable |
950 |
|
Advances to
suppliers |
0 |
|
Other receivable |
4,100 |
|
Inventory |
770 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
600 |
|
|
------------------ |
|
Current assets |
6,670 |
|
Fixed assets |
1,840 |
|
Long-term
prepaid expenses |
0 |
|
Deferred income
tax assets |
0 |
|
Other
non-current assets |
0 |
|
|
------------------ |
|
Total assets |
8,510 |
|
|
============= |
|
Short-term loans |
4,000 |
|
Notes payable |
0 |
|
Accounts payable |
710 |
|
Advances from
clients |
0 |
|
Other payable |
-1,500 |
|
Other current
liabilities |
1,490 |
|
|
------------------ |
|
Current
liabilities |
4,700 |
|
Non-current
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
4,700 |
|
Equities |
3,810 |
|
|
------------------ |
|
Total
liabilities & equities |
8,510 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2013 |
|
Revenue |
15,200 |
|
Cost of sales |
12,980 |
|
Sales expense |
1,710 |
|
Management expense |
2,110 |
|
Finance expense |
210 |
|
Profit before
tax |
-1,720 |
|
Less: profit tax |
40 |
|
-1,760 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
|
*Current ratio |
1.42 |
|
*Quick ratio |
1.26 |
|
*Liabilities
to assets |
0.55 |
|
*Net profit
margin (%) |
-11.58 |
|
*Return on
total assets (%) |
-20.68 |
|
*Inventory /
Revenue ×365 |
19 days |
|
*Accounts
receivable/ Revenue ×365 |
23 days |
|
*Revenue/Total
assets |
1.79 |
|
*Cost of sales
/ Revenue |
0.85 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears average in its line.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC’s short-term loans appear large.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is average.
l
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.
The large amount of short-term loans may be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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.