MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Zouping Development Zone, |
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Country : |
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Date of Incorporation : |
MAR. 10, 2003 |
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Com. Reg. No.: |
3716002800787 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
aluminum alloy melting, aluminum die-casting. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To USD100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ZOUPING DEVELOPMENT ZONE, BINZHOU,
TEL: 86 (0) 543-4261690
FAX: 86 (0) 543-4261691
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 10, 2003
REGISTRATION NO. : 3716002800787
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
350
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.73= US$1 AS OF 2007-4-29
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 limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Mar. 10, 2003.
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 processing aluminum materials, rubber, charging;
manufacturing and selling metal materials; die-casting magnesium; exporting its products, importing the
materials, instrument, machinery, parts and technology needed for its
producing; researching, manufacturing and selling power generating machine,
engine, gear-box, clutch and automotive parts; designing and manufacturing
mould.
SC is mainly
engaged in aluminum alloy melting, aluminum die-casting.
Mr. Liu Ankai has
been chairman of SC since 2003.
SC owns about 350
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 Zouping. Our checks
reveal that SC rents the total premise about 28,000 square meters.
http://www.xak.com.cn . The design
is professional and the content is well organized. At present it is in Chinese
and English version.
SC wins titles of “
SC has got the certificates of ISO9001:2000 TS16949 Quality System.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Ankai 97.00
Zhang Yufang 2.00
Liu Mei 0.60
Liu Zhiqiang 0.20
Liu Deqing 0.20
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Chairman and
General Manager:
Mr. Liu Ankai, in his 40’s with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as chairman and general manager.
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Vice General
Manager:
Mr. Zheng Shaoquan, in his 40’s with university education. He is
currently responsible for the daily management of SC.
Working Experience(s):
From 2003 to present
Working in SC as vice general
manager.
SC is mainly
engaged in aluminum alloy melting, aluminum die-casting.
SC’s products
mainly include: automotive engine, gear-box and clutch.
SC sources its materials
90% from domestic market and 10% from the overseas markets mainly from
SC has advanced numeral control processing & checkout equipments including
cold chamber die-casting machine 11 sets, from 250 ton to 1250 ton, the digital
control machining center produced by a joint-venture of Japan and Taiwan 18
sets, numeral control lathe 12 sets, Italian three-dimensional measuring
machine, English Arun direct reading spectrograph, hardness testers 2sets and
many other machining equipments totaled more than 260 sets.
SC also has 6 sets reflecting smelter with annual production capacity of
20,000 tons aluminum alloy ingots.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Clients:
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Qingdao Haier Group Co., Ltd.
Jinan Qingqi Group Co., Ltd.
Zhuzhou Gear Factory
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.
Agriculture Bank of
AC#：736201040002854
Relationship:
SC’s financial reports are not found during our checks with local AIC.
SC is considered medium-sized in its line with a operating history of 4
years. A credit line up to USD 100,000 would appear to be within SC’s
capacities.
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%)