MIRA
INFORM REPORT
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Report Date : |
19.05.2007 |
IDENTIFICATION DETAILS
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Name : |
tianjin yasan wire products co., ltd. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
June 29, 2004 |
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Com. Reg. No.: |
1201052005302 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and selling metal wire products. |
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 : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
tianjin yasan wire products co., ltd.
no.7
TEL:
86 (0) 22-26123220
FAX:
86 (0) 22-26125058
EXECUTIVE SUMMARY
INCORPORATION DATE : june 29, 2004
REGISTRATION NO. : 1201052005302
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 14,300,000
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 : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY7.68 = US$1 AS OF 2007-5-18
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 June 29, 2004.
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 processing metal products, wholesale and
retail metal materials, metal wire, hardware, building materials, importing and
exporting various kinds of commodities and technology.
SC is mainly
engaged in manufacturing and selling metal wire products.
Mr. Tang Baoxiong
has been chairman of SC since 2004.
SC owns about 200
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 Tianjin. Our checks
reveal that SC owns the total premise about 15,000 square meters.
http://www.tjysmetal.com The design
is professional and the content is well organized. At present the web site is
both in Chinese and English versions.
E-mail: sale@tjysmetal.com
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Yu 24.82
Zhang Xu 19.28
Beijing Jingxianglong Building Materials
Co., Ltd. 13.98
Dongguan Jinying Industry Co., Ltd. 13.98
Tianjin Yasan Metal Materials Technology
Co., Ltd. 13.99
Zhou Chunde 8.76
Zhang Hongqiang 5.19
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Chairman and
General Manager:
Mr. Tang Baoxiong, about 45 years old 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 and general manager.
SC is mainly
engaged in manufacturing and selling metal wire products.
SC’s products
mainly include: PC strand, thread bar, mesh, plastic holder, Spiral Vibbed PC
wire.
SC sources its materials 100% from domestic
market, mainly
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 Customer:
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AL NAHDHA AL OMANIAN GROUP
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 records 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.
SC’s management
declined to release its bank details.
SC’s financial statements are not available from the local AIC.
SC’s management declined to release any of its financial information.
SC is considered medium-sized in its line with a development history of 3
years. Credit dealings with SC in small amount appear acceptable 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%)