MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
YAAN XINGMEI INDUSTRIAL MATERIAL OPERATING CO., LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26.07.2006 |
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Com. Reg. No.: |
5131002800082 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Nonmetallic, Heat Insulation Materials |
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/normal. |
Small |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
YAAN XINGMEI INDUSTRIAL MATERIAL OPERATING CO., LTD.
NO.
TEL: 86 (0) 835-8515826
FAX: 86 (0) 835-8515803
EXECUTIVE SUMMARY
INCORPORATION DATE : JUL. 26, 2006
REGISTRATION NO. : 5131002800082
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
MS. ZHAO XIA (CHAIRMAN)
STAFF STRENGTH :
25
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
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 -
Note: The English name client given - Yaan Xingmei Industrial
Co., Ltd., is the trading name of SC, and its registered name should be the
heading one. The given telephone number (86 835-8515888) is owned by Yaan
Meifeng Mica Co., Ltd., which is operating at the same address with SC.
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 Jul. 26, 2006.
Company Status: Limited liabilities co. This form of business in PR China is defined as a legal
person. At least two shareholders and no more than fifty 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 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 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 processing, selling, importing
and exporting nonmetallic, heat insulation materials (including mica pieces
materials).
SC is mainly engaged in manufacturing and selling nonmetallic, heat
insulation materials.
Ms. Zhao Xia has been chairman of SC since 2006.
SC owns about 25 staff at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Yaan. Our
checks reveal that SC rents the total premise about 400 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
Zhao Xia 80
Zhang Caishu 20
Chairman and General Manager:
Ms. Zhao Xia, in her 30’s with
university education. She 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 manufacturing and selling nonmetallic, heat insulation
materials.
SC’s products mainly include: nonmetallic, heat insulation materials.
SC sources its materials 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% to the overseas market, mainly Southeast
Asia and
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T and Credit of 30-60 days.
*Major Client:
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Sichuan Meifeng Chemical Co., Ltd.
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.
Industrial and Commercial Bank of
AC#：85003903000119301
Relationship:
SC was established in Jul. 2006, and its financial reports are not
available at present.
SC is considered small-sized in its line with a short operating history.
Credit dealings with SC should be confined into small amount 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%)