MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
broad air conditioning
(changsha) co., ltd. |
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Registered Office : |
Broad Town, Changsha City, Hunan Province
410138 Pr |
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Country : |
China |
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Date of Incorporation : |
09.01.2003 |
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Com. Reg. No.: |
4301002008645 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling central air-condition. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
broad air conditioning
(changsha) co., ltd.
address
BROAD TOWN, CHANGSHA CITY
HUNAN PROVINCE 410138 PR CHINA
TEL: 86 (0) 731-4086688
FAX: 86 (0) 731-4437505
EXECUTIVE SUMMARY
INCORPORATION DATE :
jan. 9, 2003
REGISTRATION NO. :
4301002008645
REGISTERED LEGAL FORM : limited liabilities
company
CHIEF EXECUTIVE :
Mr. zhang yue (chairman)
STAFF STRENGTH :
1,600
REGISTERED CAPITAL :
CNY 200,000,000
BUSINESS LINE :
manufacturing
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
FAIRLY LARGE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
steady
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.81 = US$1 AS OF 2007-01-08
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 Jan. 9, 2003.
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 research, development, manufacture and sales of direct-fired LiBr cool and warm machine, Bromine Cooler and related products of LiBr refrigeration system, energy equipment, machinery, material, building material, sanitary ware, electronic computer, electric equipment and materials; import & export business; and design of central air-condition, installation of electromechanical device; and operational guidance services.
SC is mainly engaged in manufacturing and selling central
air-condition.
Mr.
Zhang Yue has been chairman of SC since 2003.
SC owns
about 1,600 staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the development zone of Changsha. Our checks
reveal that SC owns the total premise about 320,000 square meters.
http://www.broad.com.cn The design is
professional and the content is well organized. At present, the web is both in
Chinese and English versions.
E-mail: ywb@broad.net
Honors:
Outstanding Contribution Award by International Managers
Association (2005)
Chinese Famous Trade Marks (2005)
One of the two key leaders of “Sustainable Building and
Construction Initiative” launched by UNEP (2006)
The first one in China to extensively investigate the “air
conditioning energy cost”(since 2004)
The first one in China to implement “Energy Management Contract”
(since 2005)
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Broad
Air Conditioning Co., Ltd. 90
Zhang
Yue 10
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Broad
Air Conditioning Co., Ltd.
Registration
Number: 1100002521458
Legal Representative: Mr. Zhang Yue
Business
Scope: Import & export business, and not to engage in any items prohibited
by laws, administrative regulation and State Council; able to engage in items
that needs permit according to the regulation of the State Council, after
obtaining the permit from relative authorities and the registration in the
AIC; and select to deal with any items that do not need any permit.
Address:
Room 2002-2009, Bldg. A, Digital Building, No.2, Zhongguancun South Street,
Beijing
Tel:
010-82514688
Chairman and General
Manager:
Mr.
Zhang Yue, 47 years old with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From
2003 to present
Working in SC as chairman and general manager;
At
present Also working in Broad Air
Conditioning Co., Ltd. as legal
representative
and chairman.
SC is
mainly engaged in manufacturing and selling central
air-condition.
SC’s
products mainly include: packaged non-electric chiller, micro gas
air-condition, solar air-conditioning, and thermal energy storage, etc.
SC
sources its materials 60% from domestic market, and 40% from overseas market;
SC sells its products 50% to overseas market, mainly America, European
countries, and Middle East, and 50% in domestic market, mainly Beijing,
shanghai, and so on.
The
buying terms of SC include 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
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 did not provide any name of trade/service suppliers and we have no
other sources to conduct the enquiry at present.
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.
China
CITIC Bank Changsha Branch
AC#：N/A
Relationship:
Normal.
Investigations
were made with the local AIC, and no financial records of SC were found.
SC’s
management declined to release any of its financial information.
SC is
considered medium-sized in its line with a development history of 3 years.
Taking into consideration of SC’s general performance, reputation, as well as
fairly good background, we would rate SC as a fairly low credit risk company.
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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