MIRA INFORM REPORT
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Report No. : |
347317 |
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Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 270, Yueyahe Road, Jiaonan, Qingdao City, Shandong Province, 266400 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
19.05.2014 |
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Com. Reg. No.: |
370200410013702 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is mainly engaged in trading of goods. Products mainly
include: soil matrix; float; flower bagging; pergola; flowers bucket. |
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No. of Employees : |
29 |
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 |
Company
Name and address
QINGDAO OBOYA
COMMERCE AND TRADE CO., LTD.
No. 270, Yueyahe
road, jiaonan, qingdao city,
shandong PROVINCE,
266400 PR CHINA
TEL: 86 (0)
532-88138569/18863997488 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAY 19, 2014
REGISTRATION NO. : 370200410013702
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH : 29
REGISTERED CAPITAL :
USD 100,000
BUSINESS LINE :
TRADING
TURNOVER : CNY 7,710,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 500,000 (AS
OF DEC. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND :
FAILRY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3464= 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 Renminbi
Note: We had contacted Ms. Linda, and she
released that the given e-mail zhenli.@oboya.cc is wrong, and the correct
one is zhen.li@oboya.cc;
the given fax number “8653285137398” belongs to Qingdao Oboya Metal Products
Co., Ltd.; the “#450, No. 8 Road Haibin Industrial Park, Jiaonan Qingdao” is
SC’s previous address, and the current address of SC is the above one.
SC was registered as a wholly foreign-owned
enterprise at local Administration for Industry & Commerce (AIC - The
official body of issuing and renewing business license) on May 19, 2014.
Company Status: Wholly foreign-owned enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SC’s registered business scope includes international trade, entrepot
trade, trade between the enterprises and trade under processing collate; import
and export of goods and technology (excluding import distribution) and related
business consulting. (With permit if needed)
SC is mainly
engaged in trading of goods.
Mr. Wu Bo is legal
representative and executive director of SC at present.
SC is known to
have approx. 29 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in Qingdao. The detailed premise information is
unknown.
www.oboya.cc
The website belongs to Oboya Group. The design is professional and the content
is well organized. At present it is in English, Chinese, Japanese, Russian and
Spanish versions.
www.horti.cn
The website belongs to Oboya Group. The design is professional and the content
is well organized. At present it is in English, Chinese, French, Japanese,
Russian and Spanish versions.
E-mail: zhen.li@oboya.cc
; yantao.zhang@oboya.cc
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 098430294
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name
% of Shareholding
Oboya Horticulture Industries Limited (Hong
Kong) 100
Incorporation Date : 2013-6-26
Registration No. : 1928644
Registered Legal Form : Private
company limited by shares
Active Status : Live
l Legal
Representative and Executive Director:
Mr. Wu Bo is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative and executive director.
Also working in Qingdao Oboya Food Co.,
Ltd., Qingdao Oboya Agriculture Co., Ltd., Qingdao Oboya Metal Products Co.,
Ltd., Qingdao Oboya Commercial Equipment Co., Ltd., Qingdao Oboya Automotive
Parts Co., Ltd., etc. as legal representative, executive director and general
manager
l General Manager:
Dong Jiashun is currently responsible for
the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
l Supervisor:
Zhang Yantao
SC is mainly engaged in trading of goods.
SC’s products mainly include: soil matrix; float; flower bagging;
pergola; flowers bucket, etc.
SC sources its
materials 40% from domestic market, and 60% from overseas market. SC sells 80%
of its products in domestic market, and 20% 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 declined to release its major suppliers and clients.
Qingdao
Oboya Food Co., Ltd.
==========================
Registration
no.: 370284410001482
Legal
representative: Wu Bo
Incorporation
date: 2011-11-22
Qingdao
Oboya Agriculture Co., Ltd.
================================
Registration
no.: 370284230033337
Legal
representative: Wu Bo
Incorporation
date: 2011-06-07
Qingdao
Oboya Metal Products Co., Ltd.
==================================
Incorporation Date: 2006-10-18
Registered No.: 370284400000679
Legal Representative: Wu Bo
Tel.: 86 (0) 532-85135871/86-13730915325
Fax: 86 (0) 532-85137398
Email: haifeng.wu@oboya.cc
Qingdao
Oboya Commercial Equipment Co., Ltd.
====================================
Registration
no.: 370284230055439
Legal
representative: Wu Bo
Incorporation
date: 2012-11-06
Credibility
Code: 91370211053096659X
Qingdao
Oboya Automotive Parts Co., Ltd.
====================================
Registration
no.: 370284228006380
Legal
representative: Wu Bo乌勃
Incorporation
date: 2000-08-04
Credibility
Code: 913702117240038564
Etc.
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.
SC’s accountant
refused to release the bank details.
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2014 |
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Cash & bank |
10 |
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Inventory |
1,090 |
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Accounts receivable |
590 |
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Advances to suppliers |
0 |
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Other receivables |
640 |
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Notes receivable |
0 |
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------------------ |
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Current assets |
2,330 |
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Fixed assets net value |
0 |
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Intangible and other assets |
0 |
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------------------ |
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Total assets |
2,330 |
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=========== |
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Short loan |
0 |
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Accounts payable |
670 |
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Advances from clients |
180 |
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Other Accounts payable |
690 |
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Accrued payroll |
290 |
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------------------ |
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Current liabilities |
1,830 |
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Long term loan |
0 |
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------------------ |
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Total liabilities |
1,830 |
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Equities |
500 |
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------------------ |
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Total liabilities & equities |
2,330 |
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=========== |
Income Statement
Unit: CNY’000
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As of Dec. 31, 2014 |
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Turnover |
7,710 |
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Cost of goods sold |
5,870 |
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Taxes and additional of main operation |
0 |
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Sales expense |
1,460 |
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Management expense |
510 |
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Finance expense |
-10 |
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Investment income |
0 |
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Non-operating income |
0 |
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Non-operating expenses |
0 |
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Profit before tax |
-120 |
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Less: profit tax |
0 |
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Profits |
-120 |
Important
Ratios
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As of Dec. 31, 2014 |
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*Current ratio |
1.27 |
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*Quick ratio |
0.68 |
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*Liabilities to assets |
0.79 |
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*Net profit margin (%) |
-1.56 |
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*Return on total assets (%) |
-5.15 |
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*Inventory /Turnover ×365 |
52 days |
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*Accounts receivable/Turnover ×365 |
28 days |
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*Turnover/Total assets |
3.31 |
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* Cost of goods sold/Turnover |
0.76 |
PROFITABILITY:
FAIR
l The turnover of SC
appears average in its line.
l SC’s net profit
margin is fair.
l SC’s return on total
assets is fair.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: FAIR
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 fairly large.
l
The accounts receivable of SC appears average.
l
SC has no short-term loan in 2014.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair 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.65.22 |
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1 |
Rs.99.93 |
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Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
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Analysis Done by
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KIN |
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Report Prepared
by : |
NIT |
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.