MIRA INFORM REPORT

Report No. :	505271
Report Date :	24.04.2018

IDENTIFICATION DETAILS

Name :	A ONE INTERNATIONAL TRADE LIMITED
Registered Office :	Room 302, Block 1, Yuecai Haoting, No. A98, East of Lecong Avenue, Lecong Community Residents' Committee, Lecong Town, Shunde Dist, Foshan City
Country :	China
Financials (as on) :	31.12.2016
Date of Incorporation :	10.11.2009
Unified Social Credit Code :	9144060669643069X7
Legal Form :	Limited Liabilities Company (Foreign Invested)
Line of Business :	Wholesale, commission agents (except auction), import and export and related supporting businesses of furniture and its parts.
No. of Employees :	20

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	Slow & Delayed
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
China	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

CHINA - ECONOMIC OVERVIEW

Since the late 1970s, China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.

After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early 2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.

The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.

The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.

Source : CIA

INVESTIGATION RECORD

Name of Interviewee	Lady (who refused to disclose her name)
Tel	(86 757) 28781669; (86) 13726349934
Investigation Way	Telephone

ORDER DETAILS & INVESTIGATION RESULTS

-	Order Information	Verification
Name(English)	A ONE INTERNATIONAL TRADE LIMITED	Correct
Address (English)	ROOM 302, 1 BLOCK YUECAI BUILDING LECONG EAST ROAD A98, LECONG TOWN, SHUNDE DISTRICT, FOSHAN CITY GUANGDONG, CHINA (OPP FORTUNA HOTEL)	Inaccurate
Tel	+86-0757-28781669	Correct
E-mail	info@aoneworld.com	The given email belongs to subject but is not frequently used; the frequently used one is aone4@aoneworld.com

BASIC INFORMATION

Name (English)	A ONE INTERNATIONAL TRADE LIMITED (Confirmed by Subject's Employee)
Unified Social Credit Code	9144060669643069X7
AIC registration No.	440681400014144
National Organization Code	69643069X
Company Status	Operational
Executive	RAM KISHORE JANGID CHAMPALAL
Registered Capital	HKD 1,000,000.00
Date of Establishment	2009-11-10
Employee	20
Website	www.aoneworld.com
Company Size	Microenterprise
SIC (China)	5139,Wholesale of Other Household Articles
Import/Export Permit	Yes

CONTACTS

Tel	(86 757)28781669
Fax	(86 757)28781667
Mobile	(86)13726349934
E-mail	aone4@aoneworld.com; info@aoneworld.com
Address	Room 302, Block 1, Yuecai Haoting, No. A98, East of Lecong Avenue, Lecong Town, Shunde Dist, Foshan City, Guangdong Province(Office)
Address Post code	528315
Ownership	Rented

GENERAL COMMENTS

RISK ANALYSIS

Established in Nov. 2009 with the registered capital of HKD 1,000,000.00, subject is mainly engaged in sales and trade agent of furniture. With development for years, the company has accumulated rich industry experience. As a company invested by natural individual, subject has poor capacity of financing and risk resisting. According to subject's current financial information, its operation is unstable, and thus its development remains to be seen.

According to subject's current financial information, its operating income of 2016 is CNY 0 but related reasons cannot be obtained. SC suffered from loss in 2016, indicating its profitability is poor. With low turnover of total assets in 2016, SC has poor operation capability. Subject’s liabilities to assets ratios of 2015 and 2016 are higher than 100%, indicating it is in the insolvency state and its debt paying risk is high.

REGISTRATION INFORMATION

Unified Social Credit Code	9144060669643069X7
AIC registration No.	440681400014144
Date of Establishment	2009-11-10
Registered Address	Room 302, Block 1, Yuecai Haoting, No. A98, East of Lecong Avenue, Lecong Community Residents' Committee, Lecong Town, Shunde Dist, Foshan City
Registry	Market Security Supervision Bureau – Shunde Dist, Foshan City
Legal Representative	RAM KISHORE JANGID CHAMPALAL
Legal Form	Limited Liabilities Company (Foreign Invested)
Registered Capital	HKD 1,000,000.00
Paid-in Capital	HKD 1,000,000.00
Latest Year of Annual Report	2016
Operation duration	2009-11-10 to 2029-11-09
Business Scope	Wholesale, commission agents (except auction), import and export and related supporting businesses of furniture and its parts.

REGISTRATION CHANGES

-	Date	Item Changed	From	To
1	2013-04-09	Registered address	B84, Jianshe First Street, Dongyi Meiju, A36, East of Lecong Avenue, Lecong Town, Shunde Dist, Foshan City	Room 302, Block 1, Yuecai Haoting, No. A98, East of Lecong Avenue, Lecong Community Residents' Committee, Lecong Town, Shunde Dist, Foshan City
2	2010-03-26	Legal representative	RAM KISHORE JANGID CHAMLALAL	RAM KISHORE JANGID CHAMPALAL

SHAREHOLDER INFORMATION

-	Name	% Ownership	Capital Contributed	Currency	Investment Way	Paid-in %	Country
1	RAM KISHORE JANGID CHAMPALAL	100.00	1,000,000.00	HKD	-	100	India
Total		100.0	1,000,000

ULTIMATE HOLDING

-	Ultimate Shareholder	Investment Way
1	RAM KISHORE JANGID CHAMPALAL	-

Ultimate Shareholder	RAM KISHORE JANGID CHAMPALAL
Country	India
Type	Foreign natural person shareholder
Note	RAM KISHORE JANGID CHAMPALAL -->100.00% A ONE INTERNATIONAL TRADE LIMITED

BRANCHES

No branch information of subject is searched from database.

INVESTMENT IN OTHER COMPANIES

No investment information of subject is searched from database.

MANAGEMENT

LEGAL REPRESENTATIVE

Name	RAM KISHORE JANGID CHAMPALAL
Position	Executive Director; General Manager

INVOLVEMENT IN OTHER COMPANIES

No other involvement information of subject's legal representative is searched from database.

MANAGEMENT

-	Name	Position	Gender
1	RAM KISHORE JANGID CHAMPALAL	Executive Director; General Manager	-

DIRECTORS AND SUPERVISORS

-	Name	Position	Gender
1	Liao Meifang	Supervisor	-
2	RAM KISHORE JANGID CHAMPALAL	Executive Director; General Manager	-

JUDICIAL INFORMATION

DEFAULT EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

SUBJECT AS EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

CIVIL & COMMERCIAL TRIAL PROCESS

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

CIVIL & COMMERCIAL JUDGMENT DOCUMENT

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

ADMINISTRATIVE ILLEGAL

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

OPERATION INFORMATION

MAIN BUSINESS

Main Business	Sales and trade agent of furniture
Products & Service	SC is mainly engaged in sales and trade agent of furniture. It can provide export and trade agency services of furniture products for clients, including customs clearance and inspection etc. The present service for freight forwarders is only for the furniture industry.

OPERATION FACILITIES

Business Address	Room 302, Block 1, Yuecai Haoting, No. A98, East of Lecong Avenue, Lecong Town, Shunde Dist, Foshan City, Guangdong Province(Office)
Tel	(86 757)28781669
Fax	(86 757)28781667
Mobile	(86)13726349934
E-mail	aone4@aoneworld.com; info@aoneworld.com
Post code	528315
Environment	Major business district
Ownership	Rented
Traffic Condition	Convenient

SALES INFORMATION

Region	Products		Customer Type	Number of Customers	Payment Terms	Region	Percentage
International	Furniture		Traders, furniture sellers etc.	Over 10	L/C; T/T; etc.	Southeast Asia, Europe etc.	100
OTHER INFORMATION		SC's furniture products are wholly exported to India, Italy, etc. Currently, SC has developed certain sales network.

PURCHASE INFORMATION

Region	Main Products Purchased		Number of Suppliers	Payment Terms	Region	Percentage
Domestic	Furniture, etc.		Over 10	Prompt payment, credit payment, etc.	Guangdong Province and its surrounding areas	100
OTHER INFORMATION		SC's products are wholly purchased in China, mainly in Guangdong Province and its surrounding areas. Currently, subject has established stable purchasing channels. The suppliers are furniture manufacturers and traders, etc.

NOTE TO CREDIT RECORD

Note	Subject’s staff was cautious and refused to disclose the suppliers’ names and purchasing information of the company due to business secrecy. The suppliers’ names are unavailable through public channels. Hence no payment records of subject can be provided in the report.

ELECTRICITY CONSUMPTION RECORD

No electricity consumption record of subject can be obtained as the electricity consumer may not be filed with subject's name.

QUALIFICATIONS & TRENDS

TRADEMARKS

-	Name	Image	Registration No.	International Classification	Country
1	NAMO SELECTINS		15381199	11	China
2	NAMO SELECTINS		15381337	19	China
3	NAMO SELECTINS		15381442	20	China

EXPORT/IMPORT PERMIT

EXPORT/IMPORT PERMIT

Yes

IMPORT / EXPORT DETAILS

2015 Import / Export Volume (USD 1,000)
Import Volume	Export Volume
-	51.00

2015 Exporting Regions (USD 1,000)

Exporting Regions

Export Volume

India

50

2015 Exported Products (USD 1,000)
Exported Products	Export Volume
Upholstered wooden frame seating with outer surface of leather or composition leather	26
Furniture of other materials	15
Other upholstered seats,with wooden frames	5
Other	4
Stone furniture	1

EMPLOYEE

Employee Number	20
OTHER INFORMATION	The above information was confirmed by subject's staff in Apr. 2018.

WEBSITES

-	Website	Name	File No	Registrant
1	www.aoneworld.com	A ONE INTERNATIONAL TRADE LIMITED	Yue ICP 17026876-1	-

Website	www.aoneworld.com
Country	China
Status	Operational
Name	A ONE INTERNATIONAL TRADE LIMITED
Sponsor Name	A ONE INTERNATIONAL TRADE LIMITED
Hosted By	Enterprise
File No.	Yue ICP 17026876-1

ABNORMAL TAX PAYER

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

C. Taxpayer information of database.

TAX ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

C. Taxpayer information of database.

DEBT ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Major telecommunication operators of China;

B. Telecommunication information of database.

FINANCIAL INFORMATION

DETAILED FINANCIAL INFORMATION (UNIT: CNY 1,000)

Financial Note: Due to the lack of a clear government policy regarding the transparency of enterprise financial information, some financial items might be missing in the financial statements, causing possible inequality between the sum of the provided items and the provided total numbers.

Assets
Year	2015-12-31	2016-12-31
Report Type	Annual Report	Annual Report
Statement Type	Individual	Individual
Source	AIC	AIC
Audited or Not	Unknown	Unknown
Total Assets	254	61
Liabilities
Year	2015-12-31	2016-12-31
Total Liabilities	811	821
Total Owner’s Equity	-557	-760
Total Liabilities and Owner's Equity	254	61

Income Statement
Year	2015-12-31	2016-12-31
Operating Income	306	0
Total Profit	-247	-204
Income Tax	2	0
Net Profit	-249	-204

GROWTH RATE OF MAJOR FINANCIAL

	2015	Growth(%)	2016
Operating Income	306	-100.00	0
Total Assets	254	-75.98	61
Total Profit	-247	17.41	-204
Net Profit	-249	18.07	-204
Total Liabilities	811	1.23	821
Total Owner’s Equity	-557	-36.45	-760

IMPORTANT RATIO

Profitability	2015	2016
Return on total assets (%)	-98.03	-334.43
Net profit margin (%)	-81.37	-
Operation capacity	2015	2016
Turnover of total assets	1.20	0
Solvency	2015	2016
Liabilities to assets ratio (%)	319.29	1,345.90
Development capacity	2015	2016
Yearly Growth of Operating Income (%)	-	-100.00
Yearly growth of total assets (%)	-	-75.98

FINANCIALS & ANALYSIS

Financial Note

1. SC’s detailed financial information of 2015 and 2016 is unavailable through all available channels. Subject’s staff was contacted but declined to provide relevant financial information. Only subject’s financial summaries of 2015 and 2016 obtained from AIC source are provided for client’s reference. 2. Subject's operating income of 2016 is CNY 0 but no related reasons can be obtained. Its staff only disclosed that subject has been in normal operation with no business transfer. Hence no related reason can be provided in the report. 3. Subject’s liabilities to assets ratios of 2015 and 2016 are higher than 100%, indicating it is in the insolvency state and its debt paying risk is high. Hence, credit transactions with subject are not recommended.

INDUSTRY INFORMATION

INDUSTRY CODE

SIC (China)	5139,Wholesale of Other Household Articles【Major】
ISIC	4649,Wholesale of other household goods
NACE	46.49,Wholesale of other household goods

INDUSTRY FINANCIAL AVERAGE

-	2015	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	319.29	59.95	70.85	98.10
	Current ratio	-	1.73	1.37	0.99
	Quick ratio	-	1.08	0.86	0.62
Development Capacity	Yearly Growth of Operating Income (%)	-	18	11.07	4.50
	Yearly Growth of Gross Profit (%)	-	17.37	10.80	2.97
	Yearly Growth of Total Assets (%)	-	9.18	5.40	0.90
Profitability	Return on net assets (%)	-	9.63	5.94	0.99
	Return on total assets (%)	-98.03	8.37	4.88	0.54
	Gross profit margin (%)	-	16.83	8.10	1.17
Operation Capacity	Turnover of total assets	1.20	3.24	1.53	0.54
	Turnover of current assets	-	5.85	2.25	0.81
	Turnover days of account receivable	-	18.25	29.95	122.63

-	2016	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	1345.90	58.15	69.43	100.06
	Current ratio	-	1.68	1.34	1.01
	Quick ratio	-	1.05	0.84	0.63
Development Capacity	Yearly Growth of Operating Income (%)	-100.00	17.46	10.85	4.59
	Yearly Growth of Gross Profit (%)	-	16.85	10.58	3.03
	Yearly Growth of Total Assets (%)	-75.98	8.90	5.29	0.92
Profitability	Return on net assets (%)	-	9.34	5.82	1.01
	Return on total assets (%)	-334.43	8.12	4.78	0.55
	Gross profit margin (%)	-	16.33	7.94	1.19
Operation Capacity	Turnover of total assets	0	3.14	1.50	0.55
	Turnover of current assets	-	5.67	2.21	0.83
	Turnover days of account receivable	-	17.70	29.35	125.08

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.22
UK Pound	1	INR 92.84
Euro	1	INR 81.27
CNY	1	INR 10.51

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.