MIRA INFORM REPORT
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Report No. : |
354142 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU SHANRONG MARINE SPARE PARTS CO., LTD. |
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Registered Office : |
Room 319, No. 4 Fuyuan South Street, Huangchun Road Tianhe
District, Guangzhou, Guangdong Province 510660 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
21.01.2008 |
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Com. Reg. No.: |
440106000073311 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling stationery; importing and exporting
commodities; selling general mechanical equipment; wholesaling building
materials and decorating materials; commodities wholesaling trade; wholesaling
hardware; importing and exporting technology; wholesaling electronics;
wholesaling chemicals, motorcycle spare parts, auto parts, and mechanical
components; mechanical technology extension service; mechanical technology
development service; mechanical technology consulting and exchange services;
mechanical technology transfer service; and wholesaling steel materials. |
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No. of Employee : |
12 |
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 : |
Small company |
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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
|
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 |
COMPANY
NAME AND ADDRESS
GUANGZHOU
SHANRONG MARINE SPARE PARTS CO., LTD.
ROOM 319, NO. 4 FUYUAN SOUTH STREET, HUANGCHUN ROAD
TIANHE DISTRICT, GUANGZHOU, GUANGDONG PROVINCE 510660 PR
CHINA
TEL: 86 (0) 20-28879396
FAX: 86 (0) 20-28879359
***Note:
SC’s complete name should be the heading one, instead of the given
name-Guangzhou Shanrong Marine Spare Co., Ltd.
EXECUTIVE
SUMMARY
Date of Registration : JANUARY 21, 2008
REGISTRATION NO. : 440106000073311
LEGAL FORM : Limited
liabilities company
REGISTERED CAPITAL : cny 500,000
staff : 12
BUSINESS CATEGORY : trading
Revenue : CNY 21,670,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 1,110,000 (AS OF DEC. 31, 2014)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.42 = 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.: 440106000073311 on
January 21, 2008.
SC’s Organization Code Certificate
No.: 671805404-5
SC’s Tax No.: 440100671805045
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
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:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Sun Peng |
80 |
|
Li Chao |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman
and General Manager |
Sun Peng |
|
Supervisor |
Li Chao |
RECENT
DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Sun
Peng 80
Li
Chao 20
MANAGEMENT
Sun
Peng, Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Working
experience (s):
At present, working in SC as legal
representative, chairman and general manager
Supervisor
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Li Chao
BUSINESS
OPERATION
SC’s
registered business scope includes wholesaling stationery;
importing and exporting commodities; selling general mechanical equipment;
wholesaling building materials and decorating materials; commodities
wholesaling trade; wholesaling hardware; importing and exporting technology;
wholesaling electronics; wholesaling chemicals, motorcycle spare parts, auto
parts, and mechanical components; mechanical technology extension service;
mechanical technology development service; mechanical technology consulting and
exchange services; mechanical technology transfer service; and wholesaling
steel materials.
SC is
mainly engaged in selling mechanical spare parts.
SC’s
products mainly include:
Cylinder
Head
Cylinder
Liner
Piston
Valve
SC sources its products 100%
from domestic market. SC sells 20% of its products in domestic market, and 80%
to overseas market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major Clients*
------------------
Hatch&Kirk
Inc.
Lascasiana
Sa Cv
Staff & Office:
--------------------------
SC is
known to have approx. 12 staff
at present.
SC
rents an area as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC’s subsidiary information is not available 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 local SAIC.
FINANCIALS
Balance Sheet
|
Unit:
CNY’000 |
As of Dec. 31, 2014 |
|
100 |
|
|
Notes receivable |
0 |
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Accounts
receivable |
1,530 |
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Advances
to suppliers |
0 |
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Other
receivable |
770 |
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Inventory |
4,310 |
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Non-current
assets within one year |
0 |
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Other
current assets |
990 |
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------------------ |
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Current
assets |
7,700 |
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Fixed
assets |
330 |
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Construction
in progress |
0 |
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Intangible
assets |
0 |
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Long-term
investment |
0 |
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Deferred
income tax assets |
0 |
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Other
non-current assets |
0 |
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------------------ |
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Total
assets |
8,030 |
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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 |
3,950 |
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Welfares
payable |
0 |
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Taxes
payable |
-1,020 |
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Advances
from clients |
0 |
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Other
payable |
3,990 |
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Other
current liabilities |
0 |
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------------------ |
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Current
liabilities |
6,920 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
6,920 |
|
Equities |
1,110 |
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------------------ |
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Total
liabilities & equities |
8,030 |
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============= |
Income Statement
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Unit:
CNY’000 |
As of
Dec. 31, 2014 |
|
Revenue |
21,670 |
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Cost of sales |
19,550 |
|
Sales expense |
6 |
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Management expense |
910 |
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Finance expense |
950 |
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Profit
before tax |
210 |
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Less:
profit tax |
40 |
|
170 |
Important
Ratios
=============
|
|
As of
Dec. 31, 2014 |
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*Current
ratio |
1.11 |
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*Quick
ratio |
0.49 |
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*Liabilities
to assets |
0.86 |
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*Net
profit margin (%) |
0.78 |
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*Return
on total assets (%) |
2.12 |
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*Inventory
/ Revenue ×365 |
73
days |
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*Accounts
receivable / Revenue ×365 |
26
days |
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*Revenue
/ Total assets |
2.70 |
|
*Cost
of sales / Revenue |
0.90 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The
revenue of SC appears average in its line.
l SC’s
net profit margin is average.
l SC’s return
on total assets is average.
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
fair level.
l
The inventory of SC appears large.
l
The accounts receivable of SC is
maintained in an average level.
l
SC has no short-term loans.
l
SC’s revenue is in an average level,
comparing with the size of its total assets.
LEVERAGE:
AVERAGE
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: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
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Euro |
1 |
Rs.73.46 |
|
CNY |
1 |
Rs.10.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.