MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
Dec. 7, 2004 |
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Com. Reg. No.: |
100148 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
Manufacturing and selling precision machineries. |
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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Maximum Credit Limit : |
Up To USD10,000 |
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Status : |
New Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
NO.
TEL : 86 (0)
571-86853366
FAX : 86 (0) 571-86893008
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 7, 2004
REGISTRATION NO. : 100148
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED
STAFF STRENGTH :
150
REGISTERED CAPITAL : USD 10,000,000
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 : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.56= US$1 AS OF 2007-7-30
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 Dec. 7, 2004.
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 three-dimensional
garage; machine tools and forklifts controlled by computer; selling its products.
SC is mainly
engaged in manufacturing and selling precision machineries.
Mr. Chen Xiangrong
has been chairman of SC since 2004.
SC owns about 150
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 Hangzhou. Our checks
reveal that SC owns the total premise about 40,000 square meters.
http://www.feelerforklift.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Youhua Holding Co., Ltd. (BVI) 100
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Chairman:
Mr. Chen Xiangrong, in his 60’s with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2004 to present Working
in SC as chairman.
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General Manager:
Mr. Wang Guisheng, in his 50’s with university education. He is
currently responsible for the daily management of SC.
Working Experience(s):
From 2004 to present Working in SC as general manager.
SC is mainly
engaged in manufacturing and selling precision machineries.
SC’s products
mainly include:
Three Wheels
Electric Counter Balanced T
TB80series
Electric Tow Tractor
TB100 series
Electric Tow Tractor
FD series Counter
Balance Diesel
FB series Counter
Balance Electric Fork
RBS series
Electric Reach Truck, Stacke
PBS series
Electric Stacker
PBT series
Electric Trailer
SHS series
Semi-Electric Stacker
SHOP series
Semi-Electric Picker
TT series Electric
Tractor
HPT series
Hydraulic Trailer
SC sources its
materials 95% from domestic market, and 5% from the overseas market, mainly
European countries. SC sells 60% of its products in domestic market, and 40% to
the overseas market, mainly
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.
*Major Client:
============
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 Xiasha Sub-branch
AC#：120205050900041769
Relationship:
SC was taken into normal operation in Jan. 2007, so its financial
reports are not available at present.
SC was taken into normal operation in Jan. 2007, and its credit has not
been established yet. Credit dealings with SC should be confined into small
amount.
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%)