MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
JIANGXI JISHUI COUNTRY XINGHUA NATURAL SPICE COMPANY LIMITED |
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Registered Office : |
Chengnan Industrial Area, |
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Country : |
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Date of Incorporation : |
09.05.1997 |
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Com. Reg. No.: |
3624222100026 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in processing and selling various essential oil and natural aroma chemicals. |
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 Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
JIANGXI JISHUI COUNTRY XINGHUA NATURAL SPICE CO., LTD.
CHENGNAN INDUSTRIAL AREA,
JISHUI COUNTRY,
TEL: 86 (0) 796-3512477
FAX: 86 (0) 796-3511463
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 9, 1997
REGISTRATION NO. : 3624222100026
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. ZHANG QINCHUN (CHAIRMAN)
STAFF STRENGTH :
40
REGISTERED CAPITAL : CNY 5,100,000
BUSINESS LINE : SPICE AND
ESSENCE PROCESSING
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 7.5163 = US1$
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: Instead of the given address, SC’s address should be the heading one.
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 May 9, 1997.
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 processing and selling
spice oil; selling natural synthetic spice & essence, such as
α-Pinene, β- Pinene, linalool, litsea cubeba berry oil, and so on
(excluding the items limited by the state); importing raw materials, machines,
instruments and meters, components and related technology needed in
manufacture, research & development (excluding the items limited or
prohibited by the state); processing with imported materials, processing with
imported samples, assembling with imported parts, and compensation trade in
agreement.
SC is mainly engaged in processing and selling various essential oil and natural aroma chemicals.
Mr. Zhang Qinchun has been legal representative and chairman of SC since May 1997.
SC is known to have approx. 40 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 Jishui. Our checks reveal that SC owns the total premise, but the accountant of SC refused to release gross area of the premise.
http://jishui.fnfnet.com The design is professional and the content is well organized. At present it is in both Chinese and English versions.
E-mail: zhangcy21922@163.com
SC’s quality system meets the international standard of ISO9001.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2003-05 |
Registered capital |
CNY 580,000 |
CNY 2,000,000 |
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2003-05 |
Main Shareholders |
Zhang Qinchun (20.69%) Liang Zhenghuan (20.69%) Jin Gensheng (20.69%) Zhang Qincai (18.97%) Yan Jinliang (18.97%) |
Zhang Qinchun (30%) Xiong Jianren (30%) Liu Guilan (30%) Li Changrong (10%) |
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2004-09 |
Registered capital |
CNY 2,000,000 |
CNY 5,100,000 |
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2004-09 |
Main Shareholders |
Zhang Qinchun (30%) Xiong Jianren (30%) Liu Guilan (30%) Li Changrong (10%) |
Zhang Qinchun (72.5490%) Xiong Jianren (11.7640%) Liu Guilan (11.7640%) Li Changrong (3.9216%) |
MAIN SHAREHOLDERS:
Name % of Shareholding
Zhang Qinchun 72.5490
Xiong Jianren 11.7640
Liu Guilan 11.7640
Li Changrong 3.9216
Legal representative and chairman:
Mr. Zhang Qinchun ID # 362422561127541 He is currently responsible for the overall management of SC.
Working Experience(s):
From 1997 to present Working in SC as chairman and legal representative.
SC is mainly engaged in processing and selling various essential oil and natural aroma chemicals.
Main products:
α-Pinene, β-Pinene,Linalool, White Camphor Oil, Litsea Cubeba Oil, Eucalyptus Oil, Patchouli Oil, Dementholised Peppermint Oil, Star Anise Oil, etc.
They also have other different kinds of products, such as Orange Peel Oil, Vanilla Oil, Angelica Oil, vanillic oil, etc.
SC sources its materials 100% from domestic market, mainly
The buying terms of SC include Check, T/T 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.
At local AIC, we didn’t obtain the financial information for SC.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history
of 10 years. 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%)