MIRA
INFORM REPORT
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Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHANXI OUSIMENG INDUSTRIAL PRODUCTS TRADE CO., LTD. |
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Registered Office : |
No. 89 Wenjing Road, Xi’an, Shanxi Province, 710016 Pr |
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Country : |
China |
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Date of Incorporation : |
mar. 30, 2007 |
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Com. Reg. No.: |
0100002085668 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
international trade. |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name
SHANXI OUSIMENG INDUSTRIAL PRODUCTS TRADE CO., LTD.
NO. 89 WENJING ROAD, XI’AN,
SHANXI PROVINCE, 710016 PR CHINA
TEL : 86 (0)
29-86265641
FAX : 86 (0) 29-86265140
EXECUTIVE SUMMARY
INCORPORATION DATE : mar. 30, 2007
REGISTRATION NO. : 0100002085668
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
14
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
N/A
RECOMM. CREDIT RANGE : UNDER SECURED TERMS
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
CNY 7.73= US$1 AS OF 2007-4-25
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 Mar. 30, 2007.
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 importing and exporting various
goods and technology; selling electromechanical products, electronics products,
instrument and stainless steel.
SC is mainly
engaged in international trade.
Mr. Chen Hongbin
has been chairman of SC since 2007.
SC owns about 14
staff.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xi’an. Our checks reveal that SC rents
the total premise about 60 square meters.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Hongbin 100
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Chairman and
General Manager:
Mr. Chen Hongbin, in his 40’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working
in SC as chairman and general manager.
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Vice General
Manager:
Mr. Liu Changhai, in his 50’s with university education. He is currently
responsible for the daily management of SC.
Working Experience(s):
From 2007 to present
Working in SC as vice general
manager.
SC is mainly
engaged in international trade.
SC’s products mainly
include: machinery products, electromechanical products and electronics
products.
SC sources its
materials 20% from domestic market and 80% from the overseas markets mainly
from Europe. SC sells 90% of its products in domestic market and 10% to the
overseas markets, mainly to Europe.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T 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.
SC’s bank
account has not been opened.
SC was established recently in Mar. 2007, so its financial reports are
not available at present.
SC was established recently in a small size, and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms.
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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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%)