MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG TENGDA STAINLESS STEEL PRODUCTS CO., LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.04.2000 |
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Com. Reg. No.: |
000620 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
Manufacturing and Selling Stainless Steel Products |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
SHANDONG TENGDA STAINLESS STEEL PRODUCTS CO., LTD.
NO.
TEL: 86 (0) 632-5677928
FAX: 86 (0) 632-5677553
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 24, 2007
REGISTRATION NO. : 000620
REGISTERED LEGAL FORM :
WHOLLY FOREIGN-OWNED
CHIEF EXECUTIVE : MR. CHEN ZHENGDE (CHAIRMAN)
STAFF STRENGTH : 650
REGISTERED CAPITAL : HKD 90,570,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : COMPETITIVE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 7.56= US$1 AS OF 2007-7-25
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 wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Apr. 24, 2007.
Company Status: Wholly foreign-owned enterprise
This form of business in PR China is defined as a legal
person. It is a limited co. established within the territories of PR China
with capital provided totally by the foreign investors. More than one
foreign investors may jointly invest in a wholly foreign-owned enterprise.
The investing party/parties solely exercise management, reap profit and
bear risks and liabilities by themselves. This form of companies usually
have a limited duration is extendible upon approval of Examination and
Approval Authorities.
SC’s registered business scope includes manufacturing and processing stainless steel products, materials, alloy, automotive parts, machine tools and its parts.
SC is mainly engaged in manufacturing and selling stainless steel products.
Mr. Chen Zhengde has been chairman of SC since 2007.
SC owns about 650 staff.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Tengzhou. Our checks reveal that SC owns the total premise about 70,000 square meters.
http://www.sdtengda.com.cn The design is professional and the content is well organized. At present it is in both Chinese and English versions.
SC has got the certificates of ISO 9001: 2000.
MAIN SHAREHOLDERS:
Name % of Shareholding
Hong Kong Asian Combine Co., Ltd. 100
Chairman and General Manager:
Mr. Chen Zhengde , in his 50’s with university education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working
in SC as chairman and general manager.
Vice General Manager:
Mr. Zhang Wei , in his 30’s with university education. He is currently responsible for the daily management of SC.
Working Experience(s):
From 2007 to present Working in SC as vice general
manager.
SC is mainly engaged in manufacturing and selling stainless steel products.
SC’s products mainly include: stainless steel wires、stainless steel fasteners、stainless steel redrawing、stainless steel microfilament、stainless steel threaded rods &studs、stainless steel raw materials and stainless steel production equipments.
SC was taken normal operation in Jun. 2007. SC’s annual output of stainless steel products will be up to 45,600 tons in the future.
SC sources its materials 80% from domestic market, and 20% from the overseas market, mainly European countries. 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 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.
Industrial and Commercial Bank of
AC#：5600713-1420103074
Relationship:
SC was just established in Apr. 2007, and its financial reports are not available at present.
SC was established recently in a medium size, and its credit has not been established yet. 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/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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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%)