MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SHANXI HW TRADE
DEVELOPMENT Co., Ltd. |
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Registered Office : |
Rm 618-619, Jinxiu
Taoyuan, No. 60, Northern Taoyuan Road, Taiyuan, Shanxi Province, 030002 Pr |
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Country : |
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Date of Incorporation : |
April 23, 1998 |
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Com. Reg. No.: |
1400001006199 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
importing and exporting metal materials. |
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
SHANXI HW TRADE
DEVELOPMENT Co., Ltd.
RM 618-619, JINXIU TAOYUAN, NO. 60,
TEL: 86 (0) 351-4051579
FAX: 86 (0) 351-4131359
EXECUTIVE SUMMARY
INCORPORATION DATE : april 23, 1998
REGISTRATION NO. : 1400001006199
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 15
REGISTERED CAPITAL : CNY 6,800,000
BUSINESS LINE : TRADING
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
7.52 = 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 Shanxi HW Trade Development Co., Ltd., instead of the given name – Shanxi Hui Trade Dev. 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 April 23, 1998.
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 decoration
materials, hardware, common machinery, electrical machinery, general
merchandise, minerals, agricultural and sideline products (excluding grain),
chemicals, vehicle parts, metal materials, textiles, packaged food, garments,
water heating apparatus, meters and instruments, arts & crafts, bamboo
products; manufacturing magnesium metal; import and export of various goods and
technologies (excluding the items prohibited or limited by the country); processing
with imported materials, processing with imported samples, assembling with
imported parts, and compensation trade in agreement; barter trade and transit
trade.
SC is mainly
engaged in importing and exporting metal materials.
Ms. Xu Xiaoxue has been legal representative and chairman of SC since
1998.
SC is
known to have approx. 15 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 Taiyuan. 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.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yu Qinglian 5.8823
Xu Xiaobo 26.4706
Xu Xiaoxue 67.6471
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Legal representative and General manager:
Ms. Xu Xiaoxue, in her
Working Experience(s):
From 1998 to present Working in SC as chairman and general manager.
SC is mainly
engaged in importing and exporting metal materials.
SC’s products mainly include silicon metal and magnesium metal.
SC sources its materials 90%
from domestic market, and 10% 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
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.
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 small-sized in its line with 9 years development
history. Credit dealings with SC in small amount appear acceptable.
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%)