MIRA INFORM REPORT
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Report No. : |
350336 |
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Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
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Name : |
XIAMEN
GULONG IMPORT AND EXPORT CO., LTD. |
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Registered Office : |
17/F, Dihao Building, No. 820, Xiahe Road, Siming District,
Xiamen, Fujian Province 361004 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
28.09.1994 |
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Com. Reg. No.: |
350200100007599 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Subject is engaged in trading of foods. |
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No. of Employee : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
Company name
and address
XIAMEN GULONG IMPORT AND EXPORT CO., LTD.
17/F,
DIHAO BUILDING, NO. 820, XIAHE ROAD, SIMING DISTRICT,
XIAMEN,
FUJIAN PROVINCE 361004 PR CHINA
TEL: 86 (0) 592-2979259 FAX:
86 (0) 592-2960118
EXECUTIVE
SUMMARY
INCORPORATION DATE :
SEP. 28, 1994
REGISTRATION NO. :
350200100007599
REGISTERED LEGAL FORM : One-person LIMITED
LIABILITY COmpany
CHIEF EXECUTIVE :
Mr. chen wenning (legal representative)
STAFF STRENGTH :
70
REGISTERED CAPITAL : CNY 100,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 637,830,000 (jan. 1~jun. 30, 2014)
EQUITIES :
CNY 91,510,000 (AS OF jun. 30, 2014)
PAYMENT :
NO COMPLAINTS
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.35 = 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:
SC’s address was formerly known as 17/F, Dihao Building, No. 820, Xiahe Road,
Kaiyuan District, Xiamen, Fujian Province 361004 PR China
SC
was registered as a Limited liabilities co. at local Administration for
Industry & Commerce (AIC-The official body of issuing and renewing business
license) on Sep. 28, 1994, and has been under the present legal form since
2011.
Company Status: One-person Limited Liability Company
Single
person LLC refers to a limited liability company set up by only one natural
person or legal person as the single shareholder of it.
The
minimum registered capital of Single person LLC is CNY100,000. The
shareholder’s capital contributes, as set out by the articles of associations
should be a lump-sum payment in full.
One natural
person can only invest in and set up one limited liability company, which is
not permitted to invest in and set up a new Single person LLC.
As
to any one-person limited liability company, the sole-investor nature of the
natural person or legal person shall be indicated in the registration documents
of the company and shall be indicated in the business license thereof as well.
The
regulation of Single person LLC should be set up by the shareholder
The
regulation of Single person LLC has no shareholder meeting.
SC’s
registered business scope includes import and export of goods and technology
(without import and export commodity list), excluding those prohibited or
limited by the state; other wholesale business (excluding those needed permit);
sales of spot gold; wholesale of rice, flour products, edible oil, wine,
beverage, tea, other pre packaged food, other bulk food and dairy products
(including infant formula); retail of grain, oil, wine, beverage, tea, pre
packaged food, bulk food and dairy products (including infant formula);
internet sales; other retail business (excluding those needed permit); other
warehousing industry (excluding those needed permit).
SC
is mainly engaged in trading of foods.
Mr.
Chen Wenning has been the legal representative, executive director and general
manager of SC since 2014.
SC is
known to have approx. 70 employees
at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xiamen. SC’s accountant refused to
release the detailed information of the area.
http://www.xmgulong.com/
The design is professional and the content is well organized. At present it is both
in Chinese and English versions.
E-mail:
WDM@xmgulong.com
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2002-1 |
Legal representative |
Yang Jingcheng |
Weng Guorong |
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Shareholders and shareholding |
Xiamen Canning Factory
90% Xiamen Plastic Factory
10% |
Xiamen Canning Factory 90% Xiamen Gulong Group Co., Ltd. 10% |
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|
2005-11 |
Registered capital |
CNY 20,000,000 |
CNY 50,000,000 |
|
Legal representative |
Weng Guorong |
Guo Qingfeng |
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Shareholders and shareholding |
Xiamen Canning Factory
90% Xiamen Gulong Group Co., Ltd. 10% |
Xiamen Gulong Canned Food Co., Ltd. 90% Xiamen Gulong Group Co., Ltd. 10% |
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2008-3 |
Registration No. |
3502001004581 |
Present one |
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2011-3 |
Shareholders and shareholding |
Xiamen Gulong Canned Food Co., Ltd. 90% Xiamen Gulong Group Co., Ltd. 10% |
Xiamen Light Industry Group Co., Ltd. 100% |
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Legal form |
Limited Liabilities Company |
One-person Limited Liability Company |
|
|
2014-7-30 |
Registered capital |
CNY 50,000,000 |
Present one |
|
2014-12-29 |
Legal representative |
Guo Qingfeng |
Organization
Code: 260153759
For
the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Xiamen
Light Industry Group Co., Ltd. 100
Incorporation
date: May 26, 2006
Registration
No.: 350200100012897
Legal
representative: Yang Qingwei
Web:
http://www.xmqinggong.com.cn/
Legal representative, Executive Director and General manager:
Mr.
Chen Wenning is currently responsible
for the overall management of SC.
Working
Experience(s):
From
2014 to present Working in SC as
legal representative, executive director and general manager;
Also
working in Xiamen La Gloire Winery Co., Ltd. as legal representative.
Supervisor:
Li
Xiyong, born in 1981
SC
is mainly engaged in trading of foods.
SC’s
products mainly include: canned pork luncheon meat, canned fried dace with
salted black beans, canned vegetable & fruits series and canned mushrooms,
etc.
Brand:
“Gulong” brand.
SC
sources its materials 60% from domestic market and 40% from the overseas
markets. SC sells 40% of its products in domestic market and 60% to the
overseas markets.
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
declined to release its major clients and suppliers.
Trademark & Patents
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Registration No. |
10187740 |
12358913 |
7311908 |
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Registration Date |
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Trademark Design |
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Xiamen
Gulong Food Co., Ltd.
======================
Registration
No.: 350200100010800
Incorporation
Date:
Legal
representative: Hong Yuanxiang
SC is known to invest in the
following companies:
Xiamen
Gulong Kitchen Catering Co., Ltd. (literal translation)
======================
Registration
No.: 350203100007198
Incorporation
Date:
Legal
representative: Ye Xiaojing
Xiamen
La Gloire Winery Co., Ltd.
======================
Registration
No.: 350200100016028
Incorporation
Date:
Legal
representative: Chen Wenning
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 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.
China
Construction Bank
AC#：360001040002737
China
Everbright Bank
AC#：9860100303003207
Bank
of China Xiamen Branch
AC#：N/A
China
Construction Bank Xiamen Business Department
AC#：5350273050002756
Relationship:
Normal
Financial Summary
Unit:
CNY’000
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as of Jun. 30, 2014 |
as of Dec. 31, 2013 |
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Total assets |
347,020 |
187,450 |
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Total liabilities |
255,510 |
100,280 |
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Equities |
91,510 |
87,170 |
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============= |
============= |
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Jan.1~ Jun. 30, 2014 |
as of Dec. 31, 2013 |
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Turnover |
637,830 |
661,680 |
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Profits |
4,340 |
3,740 |
Note: We did not find SC’s detailed financial reports.
Important Ratios
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as of Jun. 30, 2014 |
as of Dec. 31, 2013 |
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*Liabilities to assets |
0.74 |
0.53 |
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*Net profit margin (%) |
0.68 |
0.57 |
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*Return on total assets (%) |
1.25 |
2.00 |
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*Turnover/Total assets |
1.84 |
3.53 |
PROFITABILITY: AVERAGE
The
turnover of SC appears fairly good in its line.
SC’s
net profit margin is average.
SC’s
return on total assets is average.
SC’s
turnover is in a fairly good level in 2013, 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 medium-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.66 |
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Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TRU |
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.