MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
BAODING FUTAIJINYI TEXTILE RAW MATERIALS CO., LTD |
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Registered Office : |
RM 302, Jia A, Mingrenguoji, Northern Hengxiang Avenue, Baoding, Hebei Province, 071000 Pr |
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Country : |
China |
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Date of Incorporation : |
26.09.2006 |
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Com. Reg. No.: |
1306002004012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Selling Different Sorts of Textiles. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address
BAODING FUTAIJINYI
TEXTILE RAW MATERIAL Co., Ltd.
RM 302, JIA A,
MINGRENGUOJI, NORTHERN HENGXIANG AVENUE,
BAODING, HEBEI
PROVINCE, 071000 PR CHINA.
TEL: 86 (0)
312-2277259 FAX: 86 (0) 312-2277259
EXECUTIVE SUMMARY
INCORPORATION DATE : SEPTEMBER 26, 2006
REGISTRATION NO. : 1306002004012
REGISTERED LEGAL FORM
: LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. LI HAIJUN (CHAIRMAN)
STAFF STRENGTH : 5
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : COD TO SMALL AMOUNT
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 7.41 = US1$
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 September 26, 2006.
Company
Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than fifty
shareholders contribute its registered capital jointly. 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 CNY 30,000. 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 30% 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 wholesaling lint, terylene, cotton pants, cotton seed, agricultural and livestock products, building materials, and textiles; importing and exporting commodities and technologies, excluding export commodities under state-unified operation and import commodities operated by the state-designated companies
SC is mainly engaged in selling different sorts of textiles.
Mr. Li Haijun has been legal representative and chairman of SC since 2006.
SC is known to have approx. 5 staff members at present.
SC is currently operating at the above stated address, and this address houses its operating office head office in the commercial zone of Baoding. Our checks reveal that SC rents the total premise about 187 square meters.
SC is not known to host website of its own at present.
SC started its normal operation in 2007.
SC was formerly named and adopted present name on January 20, 2007.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Haijun 50
Du Lixin 50
Legal representative, chairman and general manager:
Mr. Li Haijun bon in 1974 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, legal representative and general manager.
SC is mainly engaged in selling different sorts of textiles.
SC started its normal operation in 2007.
SC sources its materials 100% from domestic market. SC sells 100% of its products in domestic market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, 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 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.
Bank of China Baoding Hi-tech Development Zone Sub-branch.
AC#：37517673108099001
Relationship: Normal.
SC started its normal operation in 2007, so its finance reports are not available at present.
SC is considered small-sized in its line with a short
history. Credit dealings with SC are recommended under secured terms 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. |
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%)