MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Shenzhen
BaiZhongXing Industrial Co., Ltd. |
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Registered Office : |
Rm 1108, Huatong
Building, East Sungang Road, Luohu District, Shenzhen, Guangdong Province,
518003 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
JANUARY 3, 1997 |
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Com. Reg. No.: |
4403011085799 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and
exporting chemicals, mechanisms, electrical products, and garments, etc. |
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 USD 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
Shenzhen
BaiZhongXing Industrial Co., Ltd.
RM 1108, HUATONG BUILDING, EAST SUNGANG ROAD,
LUOHU DISTRICT, SHENZHEN, GUANGDONG PROVINCE,
518003 PR CHINA
TEL: 86 (0) 755-25572185
FAX: 86 (0) 755-25469155
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 3, 1997
REGISTRATION NO. :
4403011085799
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
20
REGISTERED CAPITAL :
CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 1,254,000 (AS OF DEC. 31, 2004)
EQUITIES :
CNY 4,958,000 (AS OF DEC. 31, 2004)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000 (PERIODICAL REVIEW)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.74=US$1 AS OF 2007-3-16
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
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 January 3, 1997.
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 industry development (projects need to be reported for
authorization); domestic commerce; supplying and selling of commodities
(excluding the products privileged, prohibited or franchised); importing and
exporting business.
SC is mainly
engaged in importing and exporting all kinds of products.
Mr.
Liu Jinwen has been legal representative and chairman of SC since March 2006.
SC
owns approximately 20 staff at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Shenzhen. Our
checks reveal that SC rents the total premise about 500 square meters.
http://www.szbzx.com/ The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
Email: szbzx2222@163.com
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2002-4-4 |
Company Name |
SHENZHEN ZHENG JIN HUI INDUSTRIAL CO., LTD. |
SHENZHEN BAI ZHONG XING INDUSTRIAL CO., LTD. |
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Chairman |
Zhuo Guoxun |
Huang Zhiyan |
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2006-3-21 |
Chairman |
Huang Zhiyan |
Liu Jinwen |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shenzhen Xinrunxing Investment
Co., Ltd. 90
Shenzhen Fengdate Trading Co.,
Ltd. 10
l
Legal representative and General manager:
Mr. Liu Jinwen, ID # 441581197510095733, 32
years old 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 legal representative.
*Officials:
=======
Name Title
Wang Hanhe Supervisor
SC mainly engaged
in importing and exporting chemicals, mechanisms, electrical products, and
garments, etc.
SC sources its materials 50%
from domestic market, and 50% from overseas market, mainly USA and Europe. SC
sells 60% of its products in domestic market, and 40% to overseas market,
mainly Japan, Korea, and Southeast Asia.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, 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 (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 did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
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.
CITIC
Bank of China Bagualing Sub-Branch
AC#：7441410182601823851
Relationship:
Normal.
Financial Summary
Unit: CNY’000
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as of Dec. 31, 2003 |
as of Dec. 31, 2004 |
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Total
liabilities |
34 |
423 |
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Shareholders equities |
4,948 |
4,958 |
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Total Assets |
4,982 |
5,381 |
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Turnover |
110 |
1,254 |
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Net profit |
-52 |
22 |
Important Ratios
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as of Dec. 31, 2003 |
as of Dec. 31, 2004 |
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*Liabilities
to assets |
0.01 |
0.08 |
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*Net profit
margin (%) |
-47.3 |
1.75 |
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*Return on
total assets (%) |
-1.04 |
0.41 |
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*Turnover/Total
assets |
0.02 |
0.23 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fair in its line.
l
SC’s net profit margin appears fair.
l
SC’s return on total assets is fair.
LIQUIDITY: FAIR
l
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
A credit line up to USD 10,000 would appear to be within SC’s capacities upon a
periodical review basis.
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%)