MIRA
INFORM REPORT
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Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
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Name : |
NANTONG FREE TRADE ZONE LOGISTICS CENTRE CO., LTD. |
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Registered Office : |
Room 223, West Side of Custom House, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.05.2009 |
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Com. Reg. No.: |
320691000048377 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in cargo storage,
handling, processing and finishing; logistics Information consulting;
logistics and enterprise services and management; international freight
forwarders; wholesale and retail of pre-packaged foods, dairy products;
operating and acting as an agent of importing and exporting various kinds of
commodities and technology |
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No of Employees : |
15 |
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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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 |
Since the late 1970s
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Source
: CIA |
COMPANY NAME
& ADDRESS
NANTONG FREE TRADE ZONE
LOGISTICS CENTRE CO., LTD.
ROOM 223, WEST SIDE OF CUSTOM HOUSE, NO.
ECONOMIC & TECHNICAL DEVELOPMENT ZONE,
TEL: 86 (0) 513-85920456
FAX: 86 (0) 513-85920456
EXECUTIVE SUMMARY
Date of Registration : may 7, 2009
REGISTRATION NO. : 320691000048377
LEGAL FORM : one-person Limited Liability Company
REGISTERED CAPITAL : CNY 30,000,000
staff :
15
BUSINESS CATEGORY : Warehouse &
Logistics
Revenue :
CNY 1,470,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 3,102,000 (AS OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
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 one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 320691000048377 on May
7, 2009.
SC’s Organization Code Certificate No.:
68918353-9
SC’s Tax No.: 320601689183539
SC’s registered capital: CNY 30,000,000
SC’s paid-in capital: CNY 30,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Nantong Free Trade Zone Development Co.,
Ltd. |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Chen Ping |
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Supervisor |
Ji Ling |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
=======================
Date of Registration: December 13, 2013
Registration No.: 320691000082048
Legal Form: Limited Liability
Company
Registered Capital: CNY 500,000,000
MANAGEMENT
Chen Ping, Legal Representative, Chairman and General
Manager
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Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
From 2009 to present, working in SC as legal representative,
chairman and general manager, also working in Zhejiang Runda International
Freight Forwarders Co., Ltd. as legal representative
Ji Ling, Supervisor
---------------------------------
Ø
Gender: F
BUSINESS OPERATION
SC’s registered business scope includes cargo storage,
handling, processing and finishing; logistics Information consulting; logistics
and enterprise services and management; international freight forwarders;
wholesale and retail of pre-packaged foods, dairy products; operating and
acting as an agent of importing and exporting various kinds of commodities and
technology, excluding the goods forbidden by the government.
SC is mainly
engaged in cargo warehouse and logistics.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 15 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 SAIC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Cash |
10,339 |
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Notes receivable |
0 |
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Accounts
receivable |
45 |
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Advances to
suppliers |
0 |
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Other receivable |
3,012 |
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Inventory |
0 |
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Non-current
assets within one year |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
13,396 |
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Fixed assets |
12 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
1,780 |
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------------------ |
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Total assets |
15,188 |
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============= |
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Short-term loans |
12,000 |
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Notes payable |
0 |
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Accounts payable |
1 |
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Advances from
clients |
0 |
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Other payable |
81 |
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Other current
liabilities |
4 |
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------------------ |
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Current
liabilities |
12,086 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
12,086 |
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Equities |
3,102 |
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------------------ |
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Total
liabilities & equities |
15,188 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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Revenue |
1,470 |
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Cost of sales |
40 |
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Sales expense |
1,370 |
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Management expense |
0 |
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Finance expense |
1,360 |
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Subsidize
revenue |
1,470 |
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Profit before
tax |
166 |
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Less: profit tax |
64 |
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Profits |
102 |
Important Ratios
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As
of Dec. 31, 2013 |
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*Current ratio |
1.11 |
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*Quick ratio |
1.11 |
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*Liabilities
to assets |
0.80 |
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*Net profit
margin (%) |
6.94 |
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*Return on
total assets (%) |
0.67 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable/ Revenue ×365 |
12 days |
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*Revenue/Total
assets |
0.10 |
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*Cost of sales
/ Revenue |
0.03 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears fair in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is average.
l
SC’s cost of sales is low, 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
SC has no inventory.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in a fair 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.54 |
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1 |
Rs.99.73 |
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Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SMN |
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 |
-- |
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.