MIRA INFORM REPORT
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Report No. : |
335285 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
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Name : |
BEIJING INFOARK SCIENCE AND TECHNOLOGY
DEVELOPMENT 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 : |
Wholesale pre-packaged food. Technological development and transfer;
selling cultural products, art craft, articles of daily use, chemical
products, hardware & electrical materials, building materials, auto spare
parts and electronic products; importing and exporting goods and
technologies, agent of importing and exporting. (with permit if needed). |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year... 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 2014 more than 274 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
Name & address
BEIJING INFOARK SCIENCE AND TECHNOLOGY DEVELOPMENT
CO., LTD.
ROOM 810, NEW LAND PLAZA, NO. 58 FUCHENG ROAD, HAIDIAN DISTRICT,
BEIJING, 100036 PR CHINA
TEL: 86 (0) 10-51668333-239 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 :
15
REGISTERED CAPITAL :
CNY 10,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 68,670,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 8,890,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.20= 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: The completed name of SC should be the heading one. SC is also
known as Beijing Infoark 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 wholesale pre-packaged food. Technological
development and transfer; selling cultural products, art craft, articles of
daily use, chemical products, hardware & electrical materials, building
materials, auto spare parts and electronic products; importing and exporting
goods and technologies, agent of importing and exporting. (with permit if
needed).
SC is mainly engaged in selling pharmaceutical chemicals.
Mr. Zheng Changqing has been the legal representative, chairman and
general manager of SC since 2013.
SC is known to have approx. 15 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.
www.infoark.com.cn
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
Email: api@infoark.com.cn
Changes
of its registered information are as follows:
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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% 田雷 Zhang Wenqi 2% 张文琦 |
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Registered Capital |
CNY 1,000,000 |
present amount |
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|
2011-6-15 |
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% |
|
2013-1-25 |
Legal representative |
Tian Lei |
Present one |
|
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.
Organization code: 75260494X
Tax No.: 11010875260494X
For the past two years there is no record of litigation.
MAIN SHAREHOLDER:
Name %
of Shareholding
Zheng Changqing 98
Shi Xiaofei 2
Legal
representative, Chairman & 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 material, medicine
intermediates, food additive, health-care nutriment raw material, etc.
SC sources its materials 60% from domestic market and 40% from overseas
market. SC sells 70% of its products in domestic market and 30% to 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 Check, T/T, L/C and Credit of 30-60 days.
Note: SC’s management refused to release its major clients and
suppliers.
Trademarks & Patents
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Registration No. |
6998197 |
7206417 |
7149233 |
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Registration Date |
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Trademark Design |
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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 refused to release any information of
its suppliers and the trade reference was not available.
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
Income
Statement
Unit: CNY’000
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Cost of goods sold |
62,160 |
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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 |
2,410 |
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Finance expense |
2,050 |
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Non-operation
income |
20 |
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Profit before
tax |
-10 |
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Profits |
-10 |
Important
Ratios
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As of Dec. 31,
2013 |
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*Current ratio |
1.30 |
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*Quick ratio |
0.59 |
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*Liabilities to assets |
0.74 |
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*Net profit margin (%) |
-0.01 |
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*Return on total assets (%) |
-0.03 |
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*Inventory /Turnover ×365 |
98 days |
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*Accounts receivable/Turnover ×365 |
48 days |
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*Turnover/Total assets |
1.99 |
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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 fair.
SC’s return on total assets is fair.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a fair level.
SC’s inventory is large in 2013.
SC’s accounts receivable is average in 2013.
SC has no short loan in 2013.
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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. The large amount of inventory would be a threat to SC’s financial conditions. Taking into consideration of SC’s general performance and operation size.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
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|
1 |
Rs.99.15 |
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Euro |
1 |
Rs.69.31 |
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 |
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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.