MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JIAOZUO YUANHAI FINE CHEMICAL CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
Oct. 12, 2004 |
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Com. Reg. No.: |
4108222000366 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
manufacturing and selling fine chemical products. |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
name & address
JIAOZUO YUANHAI FINE CHEMICAL CO., LTD.
NO.
TEL : 86 (0)
391-8057665
FAX : 86 (0) 391-8056038
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 12, 2004
REGISTRATION NO. : 4108222000366
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
70
REGISTERED CAPITAL : CNY 4,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : AVERAGE
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.57= US$1 AS OF 2007-8-7
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 Oct. 12, 2004.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. 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 CNY 30,000. 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 30% 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
manufacturing and selling NVP.
SC is mainly
engaged in manufacturing and selling fine chemical products.
Mr. Wang Pingxin
has been chairman of SC since 2004.
SC owns about 70
staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Boai county. Our checks
reveal that SC owns the total premise about 8,000 square meters.
http://www.yuanhaipvp.com The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
No significant events or changes were found during our checks with local
AIC.
SC’s shareholding information are not
available at present.
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Chairman and
General Manager:
Mr. Wang Pingxin, in his 40’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as chairman and general manager.
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Vice General
Manager:
Mr. Zhao Dong, in his 30’s with university education. He is currently
responsible for the daily management of SC.
Working Experience(s):
From 2004 to present Working in SC as vice general
manager.
SC is mainly
engaged in manufacturing and selling fine chemical products.
SC’s products
mainly include: (NVP), (PVP-K), (PVP-P), (PVP-I).
SC’s product
quality of homopolymer, crosslinked polymer and complex has met the
requirements of CP2000, European Pharmacopeia and American Pharmacopeia.
SC’s annual out
put can reach 1,200 tons.
SC sources its
materials 80% from domestic market, and 20% from the overseas market, mainly
from European countries. SC sells 60% of its products in domestic market, and
40% to the overseas market, mainly to American and European countries.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
SC is
known to have an office in
Shanghai
Office
Tel: 86
021-51068523
Fax:
86-021-51068523
Add:
Room 201 No. 459 Lane,
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 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 management
refused to release its bank details.
SC’s management declined to release any of its financial information.
SC is considered small-sized in its line with undetermined financial
conditions. Credit dealings of small amount can be considered for it 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. |
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%)