MIRA
INFORM REPORT
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Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 506, 5th
Floor, Tower A, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.03.2011 |
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Com. Reg. No.: |
110107013670861 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in technology development, technology consulting,
technology services, technology transfer, technical testing; selling computers,
software and auxiliary equipment, electronic products, electronic components,
instrumentation, environmental equipment, machinery and equipment, building
materials, fire equipment, photographic equipment, daily necessities,
textiles, garments, handicrafts, stationery, metal products, sporting goods,
gifts, trinkets, jewelry, footwear, furniture, hardware, household
appliances, communications equipment; television planning; web design;
organizational culture and art exchange activities; exhibition contractors
activities; economic information consultation; import and export agent,
importing and exporting goods and technology; technology promotion; water
pollution control; computer system services; computer technology training. |
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No of Employees : |
7 |
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 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
|
Source
: CIA |
Company name & address
BEIJING GREEN & MORE (INTL.) CO., LTD.
ROOM 506, 5TH
FLOOR, TOWER A, AIMER PLAZA, WANGJING NEW TECH & DEVELOPMENT ZONE, CHAOYANG
DISTRICT, BEIJING 100102 PR CHINA
TEL: 86 (0)
10-64398982
FAX: 86 (0)
10-64390065
EXECUTIVE SUMMARY
Date of Registration : march 15, 2011
REGISTRATION NO. : 110107013670861
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
wang ronglong (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 10,000,000
staff :
7
BUSINESS CATEGORY : TRADING
Revenue :
CNY 5,030,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 9,950,000 (AS OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.14 = USD 1
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 a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 110107013670861 on March 15, 2011.
SC’s Organization Code Certificate No.:
57127949-8
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SC’s Tax No.: 110107571279498
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 |
|
2013-11-20 |
Registered Capital |
CNY 3,000,000 |
CNY 10,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Wang Linnan |
49.2 |
|
Wu Yuqin |
31 |
|
Liu Li |
19.8 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative and Chairman |
Wang Ronglong |
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General Manager |
Liu Li |
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Supervisor |
Wang Linnan |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Wang Linnan 49.2
Wu Yuqin 31
Liu Li 19.8
MANAGEMENT
Wang Ronglong, Legal Representative and Chairman
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Gender: M
Qualification: University
Working experience (s):
From 2011 to present, working in SC as legal representative and chairman
Liu Li, General
Manager
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Gender: F
Qualification: University
Working experience (s):
At present, working in SC as general manager
Supervisor
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Wang Linnan
BUSINESS
OPERATION
SC’s registered business scope includes technology
development, technology consulting, technology services, technology transfer,
technical testing; selling computers, software and auxiliary equipment,
electronic products, electronic components, instrumentation, environmental
equipment, machinery and equipment, building materials, fire equipment,
photographic equipment, daily necessities, textiles, garments, handicrafts,
stationery, metal products, sporting goods, gifts, trinkets, jewelry, footwear,
furniture, hardware, household appliances, communications equipment; television
planning; web design; organizational culture and art exchange activities;
exhibition contractors activities; economic information consultation; import
and export agent, importing and exporting goods and technology; technology
promotion; water pollution control; computer system services; computer
technology training.
SC is mainly engaged in selling fire equipment
SC’s products mainly include: fire equipment
SC sources its products 100% from domestic market, mainly Beijing. SC sells 30% of its products in domestic market, and 70% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 7
staff at present.
SC rents an area as its operating office of approx. 100 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 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 SAIC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Cash |
916 |
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Notes receivable |
0 |
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Accounts receivable |
111 |
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Advances to suppliers |
0 |
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Other receivable |
516 |
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Inventory |
548 |
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Non-current assets within one year |
0 |
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Other current assets |
-127 |
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------------------ |
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Current assets |
1,964 |
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Fixed assets |
19 |
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Intangible assets |
7,700 |
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Deferred income tax assets |
0 |
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Other non-current assets |
-703 |
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------------------ |
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Total assets |
8,980 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
301 |
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Taxes payable |
-135 |
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Advances from clients |
-1,456 |
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Other payable |
320 |
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Other current liabilities |
0 |
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Current liabilities |
-970 |
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Non-current liabilities |
0 |
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Total liabilities |
-970 |
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Equities |
9,950 |
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Total liabilities & equities |
8,980 |
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Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Revenue |
5,030 |
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Cost of sales |
4,110 |
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Sales expense |
0 |
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Management expense |
782 |
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Finance expense |
02 |
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Profit before tax |
21 |
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Less: profit tax |
2 |
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Profits |
19 |
Important Ratios
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As
of Dec. 31, 2013 |
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*Current ratio |
-2.02 |
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*Quick ratio |
-1.46 |
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*Liabilities to assets |
-0.11 |
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*Net profit margin (%) |
0.38 |
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*Return on total assets (%) |
0.21 |
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*Inventory / Revenue ×365 |
40 days |
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*Accounts receivable/ Revenue ×365 |
9 days |
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*Revenue/Total assets |
0.56 |
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*Cost of sales / Revenue |
0.82 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fair in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: AVERAGE
The inventory of SC is maintained in an average level.
The accounts receivable of SC is maintained in an average level.
SC has no short-term loans.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.54 |
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|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
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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 |
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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 |
|
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.