MIRA INFORM REPORT
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Report No. : |
345682 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI FRIEND INTERNATIONAL TRADE CORP. |
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Registered Office : |
Room 803, No. 59 East Yan’an Road, Huangpu District, Shanghai, 200002
Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
16.10.2000 |
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Com. Reg. No.: |
310115000586099 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in acting as an import and export trade agent |
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No. of Employee : |
18 |
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 s |
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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 |
Company
name and address
SHANGHAI FRIEND INTERNATIONAL TRADE CORP.
ROOM 803, NO. 59 EAST YAN’AN ROAD, HUANGPU DISTRICT, SHANGHAI, 200002 PR
CHINA
TEL: 86 (0) 21-53503717 FAX: 86 (0) 21-63555538
EXECUTIVE
SUMMARY
INCORPORATION DATE :
OCT. 16, 2000
REGISTRATION NO. :
310115000586099
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
18
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADE AGENT
TURNOVER :
CNY 129,980,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 4,740,000 (AS OF DEC. 31, 2014)
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3569= USD
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available CNY - China Yuan Renminbi
Note: The “Room H
SC was registered as a limited
liabilities company at local Administration for Industry & Commerce (AIC -
The official body of issuing and renewing business license).
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 importing and exporting business of goods; transit
trade, trade between the enterprises and trade agent; simple
commercial processing and business advisory services; sales of alcohol, edible
agricultural products (excluding pigs, cattle, sheep and other livestock
products), food additives, chemical products (see the license for hazardous
chemicals). Wholesale: pre-packaged food (excluding braised food,
refrigeration), dairy products (including infant formula powder) (With permit
if needed)
SC is mainly
engaged in acting as an import and export trade agent.
Liu Jun is legal representative, executive director
and general manager of SC at present.
SC is known to
have approx. 18 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. SC’s accountant refused to
release the detailed information of the premise.
SC is not known to have the website.
E-mail: helen@sh-friend.com
For the past two years there is no record of litigation.
There is no record about changes of registered information.
Organization Code:
703052296
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Jun 90
Lu Xi 10
l Legal
representative, Executive Director and General Manager:
Liu Jun
is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, executive
director and general manager.
l Supervisor:
Lu Xi
SC is mainly engaged
in acting as an import and export trade agent.
SC sources its merchandise from domestic
market and overseas market. SC sells its products in domestic market and
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 declined to release its major clients and suppliers.
TRADEMARKS & PATENTS:
Registration No. 13218467 12428396 12381335
Registration Date 2015-04-07
Trademark Design 
SC
is known to have registered the following branch:
Shanghai
Friend International Trade Corp. Huangpu Branch
Registered
No.: 310101000408282
Incorporation
Date:
Principal:
Cai Yafei
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.
Industrial and
Commercial Bank of China South of Henan Road Sub-branch
AC#：N/A
Relationship:
Normal
Balance Sheet
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Unit: CNY’000 |
as
of Dec. 31, 2014 |
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Cash & bank |
6,530 |
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Inventory |
0 |
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Accounts receivable |
8,920 |
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Advances to
suppliers |
0 |
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Other Accounts
receivable |
7,030 |
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Notes receivable |
450 |
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------------------ |
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Current assets |
22,930 |
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Fixed assets net
value |
10 |
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Other assets |
0 |
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------------------ |
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Total assets |
22,940 |
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============= |
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Short loans |
0 |
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Accounts payable |
17,170 |
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Advances from
clients |
0 |
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Taxes payable |
140 |
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Other Accounts
payable |
890 |
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------------------ |
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Current
liabilities |
18,200 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
18,200 |
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Equities |
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------------------ |
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Total
liabilities & equities |
22,940 |
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============= |
Income Statement
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Unit: CNY’000 |
as of Dec. 31,
2014 |
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Turnover |
129,980 |
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115,940 |
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Tax and additional of main operation |
10 |
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Sales expense |
11,470 |
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Management expense |
2,290 |
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Finance expense |
-190 |
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Profit before tax |
460 |
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Less: profit tax |
50 |
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Profits |
410 |
Important
Ratios
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As of Dec. 31, 2014 |
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*Current ratio |
1.26 |
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*Quick ratio |
1.26 |
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*Liabilities
to assets |
0.79 |
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*Net profit
margin (%) |
0.32 |
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*Return on
total assets (%) |
1.79 |
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*Inventory
/Turnover ×365 |
/
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*Accounts
receivable/Turnover ×365 |
25 days |
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*Turnover/Total
assets |
5.67 |
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* Cost of goods
sold/Turnover |
0.89 |
PROFITABILITY:
AVERAGE
l The turnover of SC
appears fairly good in its line.
l SC’s net profit
margin is average in 2014.
l SC’s return on
total assets is average in 2014.
l
SC’s cost of goods sold is average in 2014,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
SC has no inventory in 2014.
l
The accounts receivable of SC appears average in
2014.
l
SC has no short-term loan in 2014.
l
SC’s turnover is in a good level in 2014, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in 2014.
l
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.82 |
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1 |
Rs.100.12 |
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Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ASH |
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.