MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
HANGZHOU RUNMEI FOREIGN TRADING CO., LTD. |
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Registered Office : |
Room 802 No. 137 Qingchun Road, Hangzhou,
Zhejiang Province, 310000 Pr |
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Country : |
China |
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Date of Incorporation : |
17.08.2006 |
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Com. Reg. No.: |
3301022402448 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in selling hardware and
electronic parts. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name
HANGZHOU RUNMEI FOREIGN TRADING CO.,
LTD.
address
ROOM 802 NO. 137 QINGCHUN ROAD, HANGZHOU,
ZHEJIANG PROVINCE, 310000 PR CHINA
TEL : 86 (0) 571-87566270
FAX : 86 (0) 571-87566279
EXECUTIVE SUMMARY
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INCORPORATION DATE |
AUG. 17, 2006 |
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REGISTRATION NO. |
3301022402448 |
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REGISTERED LEGAL FORM |
LIMITED LIABILITIES COMPANY |
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CHIEF EXECUTIVE |
MS. YAN JUNYAN (CHAIRMAN) |
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STAFF STRENGTH |
15 |
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REGISTERED CAPITAL |
CNY 500,000 |
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BUSINESS LINE |
TRADING |
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TURNOVER |
N/A (AS OF DEC. 31, 2005) |
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EQUITIES |
N/A (AS OF DEC. 31, 2005) |
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PAYMENT |
not yet determined |
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RECOMM.
CREDIT RANGE |
COD TO
SMALL AMOUNT |
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MARKET
CONDITION |
COMPETITIVE |
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FINANCIAL
CONDITION |
FAIR |
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OPERATIONAL
TREND |
FAIRLY
STEADY |
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GENERAL
REPUTATION |
AVERAGE |
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EXCHANGE
RATE |
CNY 7.91
= US$1 AS OF 2006-11-04 |
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
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Aug. 17, 2006.
Company Status: Limited liabilities co. This form of
business in PR China is defined as a legal person. 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 listed as follows: -manufacturing
co. : CNY 500,000.00 -trading &wholesaling
co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy &
service co. : CNY 100,000.00 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 50% of the registered capital
while contribution by intangible assets must not exceed 20% 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 wholesaling and retailing machinery and equipment, electronic products, hardware, garments, plastics and chemical products.
SC is mainly engaged in selling hardware and electronic parts.
Ms. Yang Junyan has been chairman of SC since 2006.
SC owns 15 staff.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Hangzhou. Our checks reveal that SC rents the total premise about 80 square meters.
SC is not known to host web site of its own
at present.
No significant events or changes were found during our checks with local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Yan Junyan 100
Chairman
Ms. Yan Junyan, in her 20’s with university education. She is currently responsible for the overall management of SC.
Working Experience(s)
From 2006 to present Working in SC
as chairman.
General Manager
Mr. Xu Hai, in his 30’s with university education. He is currently responsible for the daily management of SC.
Working Experience(s)
From 2006 to present Working in SC as general manager.
Manager
Mr. Su Yuming, in his 30’s with university education. He is currently responsible for the daily management of SC.
Working Experience(s)
From 2006 to present Working in SC as manager.
SC is mainly engaged in selling hardware and electronic parts.
SC’s products mainly include: hardware and plastic pressings.
At present SC is also developing the market in India and Southeast Asia for export of garments, wood products and electronics.
SC sources its materials 60% from domestic market, mainly from Zhejiang, and 40% from the overseas market, mainly from Southeast Asia. SC sells 30% of its products in domestic market, and 70% to the overseas market, mainly to India and Southeast Asia.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days. The payment terms of SC include T/T, L/C and Credit of 30-60 days.
SC is not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent ( ) Good ( ) Average ( ) Fair ( ) Poor (X) 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 refused to release any information of its suppliers and the trade reference was not available.
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.
Agriculture Bank of China Hangzhou Branch
AC# : 19036301040006223
Relationship: Normal.
SC was established in Aug, 2006, and its annual financial reports are not available at present.
SC was established very recently in a small-size. Credit dealings with SC are recommended under secured terms at present.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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