MIRA
INFORM REPORT
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Report No. : |
345827 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
HUBEI QILIHUA
TECHNOLOGY CO., LTD. |
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Registered Office : |
Special |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.08.2013 |
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Com. Reg. No.: |
420100000358629 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Researching, developing, selling, importing and exporting textiles,
chemical products, polymer materials, new products and related machinery products;
related technology and enterprise management consulting and service. |
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No. of Employees : |
16 |
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 : |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 & address
HUBEI QILIHUA TECHNOLOGY CO., LTD.
SPECIAL NO. 1
ZHUSHANHU AVENUE
WUHAN ECONOMIC
& DEVELOPMENT ZONE
HUBEI PROVINCE
430056 PR CHINA
TEL: 86 (0)
27-88185032/85353818
FAX: 86 (0)
27-88185276/84891934
EXECUTIVE SUMMARY
Date of Registration : august 2, 2013
REGISTRATION NO. : 420100000358629
LEGAL FORM : LIMITED LIABILITY
COMPANY
CHIEF EXECUTIVE :
liu weibin (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 10,000,000
staff :
16
BUSINESS CATEGORY : TRADING
Revenue :
CNY 22,260,000 (AS OF DEC. 31,
2014)
EQUITIES :
CNY 2,530,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairLY STABLE
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.33 = 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 on August 2,
2013. However, SC changed to present legal form, and was registered as
one-person limited liabilities company of PRC with State Administration for
Industry & Commerce (SAIC) under registration No.: 420100000358629 on July 21, 2015.
SC’s Organization Code Certificate No.:
07446660-4
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 2,500,000 (As of
December 31, 2014)
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2015-7-21 |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
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Shareholder (s) |
Hubei Huakangyuan Investment & Management Co., Ltd. Liu Weibin |
Hubei Huakangyuan Investment & Management Co., Ltd. |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Hubei Huakangyuan Investment & Management Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, Chairman and General Manager |
Liu Weibin |
|
Supervisor |
Cai Xia |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Hubei Huakangyuan Investment & Management Co., Ltd. 100
---------------------------------------
Registration No.: 420100000353501
Date of Registration: July 1, 2013
Legal Form: Limited Liabilities Company
Registered Capital: CNY 20,000,000
Legal Representative: Liu Weibin
MANAGEMENT
Liu Weibin, Legal Representative, Chairman and General
Manager
--------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Also working in Hubei Huakangyuan Investment & Management Co., Ltd.
as legal representative
Cai Xia, Supervisor
-----------------------------------
Gender: F
Qualification: University
BUSINESS
OPERATION
SC’s registered business scope includes researching, developing,
selling, importing and exporting textiles, chemical products, polymer
materials, new products and related machinery products; related technology and
enterprise management consulting and service.
SC is mainly engaged in selling textiles, chemical products.
SC’s products mainly include: textiles, chemical products.
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 T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 16
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 local SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As of Dec. 31,
2014 |
|
320 |
|
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Notes receivable |
0 |
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Accounts receivable |
8,690 |
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Advances to suppliers |
0 |
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Other receivable |
15,090 |
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Inventory |
1,470 |
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Non-current assets within one year |
0 |
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Other current assets |
1,170 |
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------------------ |
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Current assets |
26,740 |
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Fixed assets |
570 |
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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 |
27,310 |
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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 |
9,590 |
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Welfares payable |
0 |
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Taxes payable |
0 |
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Advances from clients |
0 |
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Other payable |
12,460 |
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Other current liabilities |
2,730 |
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------------------ |
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Current liabilities |
24,780 |
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Non-current liabilities |
0 |
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------------------ |
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Total liabilities |
24,780 |
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Equities |
2,530 |
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------------------ |
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Total liabilities & equities |
27,310 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2014 |
|
Revenue |
22,260 |
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Cost of sales |
21,700 |
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Sales expense |
480 |
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Management expense |
0 |
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Finance expense |
40 |
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Profit before tax |
29 |
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Less: profit tax |
0 |
|
29 |
Important Ratios
=============
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As of Dec. 31, 2014 |
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*Current ratio |
1.08 |
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*Quick ratio |
1.02 |
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*Liabilities to assets |
0.91 |
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*Net profit margin (%) |
0.13 |
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*Return on total assets (%) |
0.11 |
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*Inventory / Revenue ×365 |
25 days |
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*Accounts receivable / Revenue ×365 |
143 days |
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*Revenue / Total assets |
0.82 |
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*Cost of sales / Revenue |
0.97 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of goods sold is high, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a fairly good level.
The inventory of SC appears average.
The accounts receivable of SC appears large.
SC has no short-term loans.
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high.
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. The large amount of accounts receivable may be a threat to SC’s
financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
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Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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.