MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
FUQING XINHUI FREEZES FOOD CO., LTD. |
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Registered Office : |
NO. |
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Country : |
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Date of Incorporation : |
25.03.2004 |
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Com. Reg. No.: |
3501812001213 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Company is engaged in Selling Frozen Seafood |
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 : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
FUQING XINHUI FREEZES FOOD CO., LTD.
NO.
TEL: 86 (0) 592-5771485
FAX: 86 (0) 592-5771485
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 25, 2004
REGISTRATION NO. : 3501812001213
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. HE XIANGCAI (CHAIRMAN)
STAFF STRENGTH :
3
REGISTERED CAPITAL : CNY 700,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NOT
YET DETERMINED
RECOMM.
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.52= US$1
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 name, SC’s name be the above stated one. And
SC’s sales department is located in the given address.
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 Mar. 25, 2004.
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 selling seafood and frozen food.
SC is mainly engaged in selling frozen seafood.
Mr. He Xiangcai has been chairman of SC since 2004.
SC is known to have approx. 3 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 Fuqing. Our checks reveal
that SC rents the total premise about 60 square meters. In the same address
there is also another company named Fuqing Longtian the No. 3 Village the First
Refrigerating Plant.
SC is known to have a sales department in
Tel: 86 591-83966929
Mobile: 13799995600 (owned by Mr. Zheng).
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
He Xiangcai 71.43
Su Xinxiong 28.57
Chairman and General Manager:
Mr. He Xiangcai, in his
Working Experience(s):
From 2004 to present Working
in SC as chairman and general manager.
SC is mainly engaged in selling frozen seafood.
SC’s products mainly include: frozen seafood.
SC has no business since it was founded in 2004.
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
refused to release any information of its suppliers and the trade reference was
not available.
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#：N/A
Relationship:
SC has no business since it was founded in 2004, so its financial
reports are not available.
SC is considered small-sized in its line and has not started its normal
operation yet. Credit dealings with SC should be confined into small amount.
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%)