MIRA INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NANCHANG HONGRUN IMPORT & EXPORT TRADE CO LTD |
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Registered Office : |
No.1338 Jinggangshan Road, Xihu District, Nanchang, Jiangxi Province, 330002 |
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Country : |
China |
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Date of Incorporation : |
16.05.2008 |
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Com. Reg. No.: |
360100210088160 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
International
Trade. |
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 : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
nanchang hongrun import & export trade co.,
ltd.
no.1338 jinggangshan road, xihu district,
nanchang,
jiangxi PROVINCE, 330002 PR CHINA
1338
TEL: 86 (0) 791-6507489 FAX: 86 (0) 791-6514575
EXECUTIVE SUMMARY
INCORPORATION DATE : may 16, 2008
REGISTRATION NO. : 360100210088160
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
NOT YET DETERMINED
RECOMM. CREDIT RANGE : COD TO SMALL AMOUNT
MARKET CONDITION : FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.83 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
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 16, 2008.
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 domestic trade, importing and exporting various kinds of
commodities and technology, education consultation, technical consultation, and
technical services.
SC is mainly
engaged in international trade.
Mr. Shi Rengen has
been chairman of SC since 2008.
SC is known to
have approx. 15 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Nanchang. Our checks reveal that SC
rents the total premise about 200 square meters.
http://www.hongrungs.com
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: nanchanghongrun@yahoo.cn
No significant events or changes were found during our checks with the
local Administration for Industry & Commerce.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Luo Ling 40
Shi Rengen 60
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Chairman and General Manager:
Mr. Shi Rengen, ID No.: 360104551123101, 53 years old with university education.
He is currently responsible for the overall management of SC.
Working Experience(s):
From 2008 to present Working
in SC as chairman and general manager.
l
Director:
Luo Ling
SC is mainly engaged
in international trade.
SC’s products
mainly include: Machinery, Intelligent electronic, Digital photoelectric,
Equipment for fitness, Chemical products and equipment, Auto accessories, Daily
necessities, Agriculture products, Medical equipment, Textiles.
SC sources its materials 100% from domestic
market, mainly Jiangxi. SC sells 100% of its products to overseas market,
mainly Southeast Asian market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include L/C and Credit of 30-60 days.
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.
SC’s management
declined to release its bank details.
Since the company was only established two (2) months ago, its 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 at present..
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.49 |
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UK Pound |
1 |
Rs. 84.21 |
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Euro |
1 |
Rs. 66.33 |
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%)