MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
HAIKOU JULONG TRADE CO., LTD. |
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Registered Office : |
Room 2-702 No. 491 Binhai New Village, Haikou, Hainan
Province, 570105 Pr |
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Country : |
China |
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Date of Incorporation : |
Mar. 17, 1998 |
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Com. Reg. No.: |
4601002000247 |
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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 : |
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
HAIKOU JULONG TRADE CO., LTD.
ROOM 2-702 NO. 491 BINHAI NEW VILLAGE, HAIKOU,
HAINAN PROVINCE, 570105 PR CHINA
TEL: 86 (0) 898-66761021
FAX: 86 (0) 898-66761021
EXECUTIVE SUMMARY
INCORPORATION DATE : mar. 17, 1998
REGISTRATION NO. : 4601002000247
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH : 4
REGISTERED CAPITAL : CNY 300,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.39= US$1
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. 17, 1998.
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 selling native products, cereals
and oils, textiles, office supplies, building materials, minerals, motorcycles,
automotive parts, wines and chemical products; repairing automobiles and
motorcycles; selling chemical fertilizer, household appliances and lubricating
oil; packaging agricultural products.
SC is mainly
engaged in international trade.
Mr. Huang Shiyun has
been chairman of SC since 1998.
SC is known
to have approx. 4 staff members at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Haikou. Our checks reveal that SC rents
the total premise about 100 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
Huang Shiyun 50.00
Wang Shanzhi 33.33
Chen Wensi 16.67
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Chairman and
General Manager:
Mr. Huang Shiyun, in his 40’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 1998 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include: automotive parts, fruit, native products, cereals and oils,
textiles and office products.
SC sources its
materials 60% from domestic market and 40% from the overseas market, mainly Southeast
Asia. SC sells 40% of its products in domestic market and 60% to the overseas
market, mainly 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 one automotive repairing branch as following,
Haikou Julong Trade Co., Ltd., Automotive Repairing
Center
Add: No.
17 Haixiu Road, Xinhua District, Haikou, Hainan Province
Tel: 86
898-6706217
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.
Bank of China Hainan Branch
AC#：7806039
Relationship:
Normal.
SC’s financial reports of 2006 are not found during our checks with
local AIC.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with undetermined financial
conditions. 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. |
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%)