MIRA
INFORM REPORT
|
Report Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
XINGTAI XINDA GLASS CO., LTD. |
|
|
|
|
Registered Office : |
No. 28 Jiangdong Yi Road, Xingtai, Hebei Province, 045001 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
21.08.2006 |
|
|
|
|
Com. Reg. No.: |
1305002007201 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Engaged
in international trade. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
Unknown
|
|
|
|
|
Litigation : |
Clear |
NAME
XINGTAI XINDA GLASS CO., LTD.
ADDRESS
NO. 28 JIANGDONG YI ROAD, XINGTAI,
HEBEI PROVINCE, 045001 PR CHINA
TEL: 86 (0) 319-3066718
FAX: 86 (0) 319-3066738
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUG. 21, 2006
REGISTRATION NO. :
1305002007201
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
N/A
RECOMM. CREDIT RANGE :
COD TO SMALL AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
N/A
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.83 = US$1 AS OF 2007-1-8
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 Aug. 21, 2006.
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 wholesaling glass; importing and exporting various goods and technologies.
SC is mainly engaged in
international trade.
Mr. Zong Junmin has been chairman
of SC since 2006.
SC owns about 5 staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xingtai. Our checks reveal that SC
rents the total premise about 80 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
Zong
Junmin 25
Hua
Fenghe 25
Liu
Xiaofeng 25
Li
Zhiping 25
Chairman and General Manager:
Mr. Zong
Junmin, in his 30’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.
SC is
mainly engaged in international trade.
SC’s
products mainly include: glass.
Established
recently in Aug. 2006, SC has little business at present.
SC
sources its materials 100% from domestic market. SC sells 100% of its products
to the overseas markets, mainly to Europe.
The
buying terms of SC include Check, T/T and Credit of 30 days. The payment terms
of SC include T/T, L/C and Credit of 30 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.
Bank of
China Xingtai Branch
AC#：17620908091001
Relationship:
Normal.
SC was
established recently in August 2006, and its financial reports are not
available at present.
SC was
established recently in 2006, and its credit has not been established yet.
Credit dealings with SC are recommended under secured terms at present.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|