MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
NVC LIGHTING
TECHNOLOGY Co., Ltd. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
April 29, 2006 |
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Com. Reg. No.: |
006117 |
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Legal Form : |
Wholly Foreign-Owned |
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Line of Business : |
Engaged in
manufacturing and selling lighting equipment. |
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 & address
NVC LIGHTING
TECHNOLOGY Co., Ltd.
TEL: 86 (0) 752-2786842
FAX: 86 (0) 752-2786689
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 29, 2006
REGISTRATION NO. : 006117
REGISTERED LEGAL FORM
: WHOLLY FOREIGN-OWNED
STAFF STRENGTH : 300
REGISTERED CAPITAL : USD 13,250,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.50 = US1$
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 wholly foreign-owned enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on April 29, 2006.
Company Status: Wholly foreign-owned enterprise This form of business in PR China is defined as a legal
person. It is a limited co. established within the territories of PR China
with capital provided totally by the foreign investors. More than one
foreign investor may jointly invest in a wholly foreign-owned enterprise.
The investing party/parties solely exercise management, reap profit and
bear risks and liabilities by themselves. This form of companies usually
have a limited duration is extendible upon approval of Examination and
Approval Authorities.
SC’s registered
business scope includes manufacturing lighting equipment, light sources,
electrician, kitchen & toilet appliances, lighting appliances, electric
blanket, fire-fighting apparatus and parts, proprietary technology transfer, authorizing
application, and related technology consulting services; the products are sold
in both domestic and oversea markets.
SC is mainly
engaged in manufacturing and selling lighting equipment.
Mr. Wu Changjiang has been legal representative and chairman of SC since
2006.
SC is
known to have approx. 300 staff members 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
Huizhou. Our checks reveal that SC rents the total premise about 50,000 square
meters.
http://www.nvc-lighting.com.cn/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: market@nvc-lighting.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
NVC Lighting Holding Limited (BVI) 100
l
Legal representative and General manager:
Mr. Wu Changjiang,
in his
Working Experience(s):
From 2006 to present Working in SC as chairman and general manager.
*Officials:
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Name Title
ANDREW Y YAN Director
HO-PING LIN Director
Xia Lei Director
Mu Yu Director
Tang Huajing Supervisor
SC is mainly
engaged in manufacturing and selling lighting equipment.
SC’s products
mainly include down light, multiple light, metal-halide light, spot light, wall
light, out door light, and light bulb, etc.
SC sources its materials 20%
from domestic market, and 80% from overseas market, mainly
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 known to have the following subsidiaries:
Chongqing
Enweixi Lighting Co., Ltd.
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.
SC’s management
declined to release its bank details.
SC’s financial
reports are not available in the local Administration for Industry and
Commerce.
SC’s management declined to release any financial information.
SC is considered a fairly new established enterprise in medium size.
Taking into consideration of SC’s operation scale, market condition as well as
reputation, we would rate SC as an average credit risk company.
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%)