MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
YIXING FRIEND IMP. AND EXP. CO., LTD. |
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Registered Office : |
No. 215 Jiubin (M) Road, Yicheng Town, Yixing, Jiangsu
Province, 214200 Pr |
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Country : |
China |
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Date of Incorporation : |
Mar. 3, 2006 |
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Com. Reg. No.: |
3202822112558 |
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Legal Form : |
One-Person Limited Liability 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 : |
New and Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
YIXING FRIEND IMP. AND EXP. CO., LTD.
NO. 215 JIUBIN (M) ROAD, YICHENG TOWN, YIXING,
JIANGSU PROVINCE, 214200 PR CHINA
TEL : 86 (0)
510-87333077
FAX : 86 (0) 510-84718098
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 3, 2006
REGISTRATION NO. : 3202822112558
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
9
REGISTERED CAPITAL : CNY 1,000,000
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 : COD to 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 one-person limited liability company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 3, 2006.
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes importing and exporting various
goods and technology.
SC is mainly
engaged in international trade.
Mr. Xu Yaping has
been chairman of SC since 2006.
SC is known
to have approx. 9 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 Yixing. Our checks reveal that SC
rents the total premise about 100 square meters.
http://www.yxfrd.com . The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
SC was taken into normal operation in Jan. 2007.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xu Yaping 100
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Chairman and
General Manager:
Mr. Xu Yaping, in his 40’s with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From 2006 to present Working
in SC as chairman and general manager.
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Supervisor:
Pan Junda ID#: 320223441008258
SC is mainly
engaged in international trade.
SC’s products
mainly include:
Ceramic Housing
Spiral Ceramic
Diode
Power Module
Fiberglass Product
WPC Product
SC was taken into
normal operation in Jan. 2007, and it has little business at present.
SC sources its materials
100% from domestic market. SC sells 100% of its products to the overseas
market, mainly American and European countries.
The buying terms of SC include Check, 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 (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 Yixing Branch
AC#：39279208091001
Relationship:
Normal.
Incorporated in Mar. 2006, SC was taken into normal operation in Jan.
2007, so its financial reports are not available at present.
SC is considered small-sized in its line with a short history. 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. |
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%)