MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO XINDong
WEIYE EQUIPMENTS Co., Ltd. |
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Registered Office : |
Rm 601, Unit 2, Xiangtai
Building, No. 99, Renmin Road, Qingdao, Shandong Province, 266032 Pr |
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Country : |
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Date of Incorporation : |
March 8, 2007 |
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Com. Reg. No.: |
3702052807140 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
The company will
be mainly engaged in wholesaling and retailing different sorts of
electromechanical equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
QINGDAO XINDong
WEIYE EQUIPMENTS Co., Ltd.
RM 601, UNIT 2,
TEL :
86 (0) 532-83757944
FAX :
86 (0) 532-83730404
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 8, 2007
REGISTRATION NO. :
3702052807140
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
2
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE :
RETAILING AND WHOLESALING
TURNOVER :
N/A
EQUITIES : N/A
PAYMENT :
NOT YET DETERMINED
RECOMM.
MARKET CONDITION :
FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.51 = US1$
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s correct company name should be Qingdao Xindong Weiye Equipments Co., Ltd., in stead of the given one- Qingdao Xinding Weiye Equipments Co Ltd.
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 March 8, 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 wholesaling and retailing electromechanical equipment, (excluding
cars), mechanical parts, hardware; conference services; importing and exporting
goods and technology.
SC has not started its normal
operation yet. According to the management of
Mr.
Zhou Huizhong has been legal representative and chairman of SC since 2007.
SC is
known to have approx. 2 staff members at present.
SC is currently operating at the above stated address, and
this address houses its operating office in the industrial zone of Qingdao. Our
checks reveal that SC rents the total premise about 80 square meters.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with the
local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhou Huizhong 60
Wang Ping 40
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Legal representative and General manager:
Mr. Zhou Huizhong, born in 1945, with
university education. He is currently responsible for the overall management of
SC.
Working Experience(s):
From 2007 to present Working in SC as chairman and general manager.
SC has not started its normal
operation yet. According to the management of
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.
Bank of
AC#：408502102758091001
Relationship:
SC was established in 2007, and its annual financial reports
are not available at present.
SC was established recently in a small size, and its credit has not been
established yet. Credit dealings with SC are recommended under secured terms.
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%)