MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
xi’an longxiang
import and export trade co., ltd. |
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Registered Office : |
Room 1108, Ximei International
Trade Mansion, No. 99, Changle Mid. Road, Xi’an City, Shanxi Province 710032
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Country : |
China |
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Date of Incorporation : |
Sep. 24, 2007 |
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Com. Reg. No.: |
610100100004947 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
It is expected to engaged in selling mechanical products. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
xi’an longxiang import
and export trade co., ltd.
room 1108, ximei international trade mansion
no. 99, changle mid. road, xi’an city
shanxi province 710032 PR CHINA
TEL: 86 (0) 29-85396544
FAX: 86 (0) 29-85216479
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 24, 2007
REGISTRATION NO. :
610100100004947
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
not yet determined
RECOMM. CREDIT RANGE : C.O.D.
TO SMALL AMOUNT
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
7.41 = US$1
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 co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Sep. 24, 2007.
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 selling mechanical
products, electromechanical products, electric instruments &
meters, building machines, wire & cable, steel materials, groceries,
agricultural products and byproducts, chemical products, rubber products;
importing and exporting commodities.
Until now, SC has
not started its normal operation yet.
Mr. Dai
Xiaoqi has been chairman of SC since 2007.
SC is
known to have approx. 10 staff members at present. And after starting
operation, SC will recruit new staff.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xi’an. Our checks reveal that SC
rents the total premise about 200 square
meters.
SC is not known to host website of its own at present.
According to SC’s legal representative, Mr. Dai Xiaoqi, SC will start
its normal business in December of 2007.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Dai Xiaoqi 60
Lu Huan 40
l
Chairman and
General Manager:
Mr. Dai Xiaoqi, in his 40’s with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
Since 2007 Working in SC as chairman and
general manager.
SC will start its normal business in December of 2007, and it is
expected to engaged in selling mechanical products.
SC is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average (
) Fair ( ) Poor
(X) 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.
SC’s principal declined
to release its bank details.
SC was established recently in 2007, so its financial reports are not available at present.
SC was established recently in 2007, and has not started its normal
business, so its credit has not been established yet. 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%)