MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
JIANGYIN DONGHAO STAINLESS STEEL PIPE CO., LTD. |
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Registered Office : |
No. 168 Yueshan Road, Yuecheng Town, Jiangyin, Jiangsu
Province, 214401 Pr |
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Country : |
China |
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Date of Incorporation : |
21.03.2006 |
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Com. Reg. No.: |
3202812127154 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling stainless pipe. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
JIANGYIN DONGHAO STAINLESS STEEL PIPE CO., LTD.
NO. 168 YUESHAN ROAD, YUECHENG TOWN, JIANGYIN,
JIANGSU PROVINCE, 214401 PR CHINA
TEL: 86 (0) 510-86593500
FAX: 86 (0) 510-86982929
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 21, 2006
REGISTRATION NO. : 3202812127154
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
55
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : small amount
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.77= US$1 AS OF 2007-3-2
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 Mar. 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 manufacturing and selling cold
draw stainless pipe; importing and exporting various goods and technology.
SC is mainly engaged
in manufacturing and selling stainless pipe.
Ms. Huang Xiaohong
has been chairman of SC since 2006.
SC owns about 55
staff members 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 Jiangyin. Our checks reveal that
SC rents the total premise about 15,000 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
Huang Xiaohong 100
l
Chairman and
General Manager:
Ms. Huang Xiaohong, in her 40’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 stainless pipe.
SC started its
normal operation in Jun. 2006.
At present SC has
1 set LG60 cold rolling mill, 2 set LG30 and 7 sets 50-120 tons cold rolling
mills. At present SC’s annual output can reach 5,000 tons.
SC sources its
materials 80% from domestic market and 20% from the overseas markets mainly
from Europe. SC sells 90% of its products in domestic market and 10% to the
overseas markets, mainly to Europe.
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.
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.
Traffic Bank of China Chengxi Sub-Branch
AC#：393000681018010030570
Relationship:
Normal.
SC was incorporated in Mar. 2006, and its annual financial reports are
not available at present.
SC was established recently in a small size, and its credit has not been
established yet. 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%)