MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION DETAILS
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Name : |
qingdao bolan
foods co., ltd. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
December 18, 1993 |
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Com. Reg. No.: |
3702812800033 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in processing and selling food. |
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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Maximum Credit Limit : |
Up To usd 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
qingdao bolan foods
co., ltd.
no.845
TEL :
86 (0) 532-82290818
FAX :
86 (0) 532-82295388
EXECUTIVE SUMMARY
INCORPORATION DATE : december 18, 1993
REGISTRATION NO. : 3702812800033
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
120
REGISTERED CAPITAL : CNY 11,180,000
BUSINESS LINE :
processing
TURNOVER :
n/a (AS OF DEC. 31, 2006)
EQUITIES :
n/a (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY7.48 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: SC moved to the heading
business address from the given address on
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 December 18, 1993.
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 peanut products, sesame series, processing and
freezing capsicum, seafood, vegetables and vegetable products, sausage
packaging, exporting its products and technology; importing materials,
instruments and meters, machinery equipment, parts and technology needed in its
production and research, excluding the goods
limited or forbidden by the government.
SC is mainly
engaged in processing and selling food.
Mr. Guo Peizheng
has been chairman of SC since 1993.
SC is known to
have approx. 120 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 Jiaozhou. Our checks
reveal that SC rents the total premise about 11,504 square meters.
http://www.bolan.com.cn The
design is professional and the content is well organized. At present the web
site is both in Chinese, Korean and English versions.
E-mail: bolan@bolan.com.cn
Changes of its registered information are as follows:
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Date
of change |
Item |
Before the
change |
After the change |
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Company name |
Jiaozhou Bolan Vegetable Oil Co., Ltd. |
QINGDAO BOLAN FOODS CO., LTD. |
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Registered address |
No.116
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No.845
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Registered capital |
CNY 4,180,000 |
CNY 11,180,000 |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guo Fang 8.94
Guo Hua 1.61
Guo Kai 1.79
Guo Lei 19.94
Guo Peizheng 40.88
Guo Tao 13.42
Zhang Maoqin 13.42
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Chairman and
General Manager:
Mr. Guo Peizheng, 61 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 1993 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in processing and selling food.
SC’s products
mainly include: chaotian chilli, yidu chilli, sweet paprika, frozen fresh
chilli, chilli powder, white sesame, black sesame, sesame oil, sesame paste, fish
oil, chilli seeds oil, roasted organic barley, steamed glutinous rice.
SC sources its materials 100% from domestic
market, mainly
The buying terms of SC include Check, T/T and Credit of 15-30 days. The
payment terms of SC include T/T, L/C and Credit of 30 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.
Bank of
AC#：10477308091001
Relationship:
Investigations were made with the local Administration for Industry and
Commerce (the authority that issuing and renewing business license), however, no
financial records of SC was found.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a development history of
14 years. A credit line up to USD 50,000
would appear to be within SC’s capacities upon a periodical review basis.
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%)