MIRA
INFORM REPORT
|
Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NINGXIA JIAFENG CHEMICALS CO., LTD. |
|
|
|
|
Registered Office : |
Great Wall Park, Hongguozi Industrial
Zone, Huinong, Shizuishan,
Ningxia 753200 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
24.06. 2003 |
|
|
|
|
Com. Reg. No.: |
640200200000450 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Processing and Selling Chemicals and Chemical Raw Materials. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
NINGXIA JIAFENG CHEMICALS CO., LTD.
great wall park,
hongguozi industrial zone,
huinong, shizuishan,
ningxia 753200 PR CHINA.
TEL: 86 (0)
952-7682302 FAX: 86 (0) 952-7681172
EXECUTIVE SUMMARY
INCORPORATION DATE : june 24, 2003
REGISTRATION NO. : 640200200000450
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 15,000,000
BUSINESS LINE :
PROCESSING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.88 = 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 June 24, 2003.
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 export its products and technologies; importing
business of the materials, machinery, parts and technology needed for its produce,
excluding the import and export commodity and technology defined or prohibited
by the government; manufacturing and selling cyanoguanidine and cyanoguanidine
with electronic grade; selling acetylene carbon black, carburetant, chemicals,
hardware, mechanical and electrical equipment and building materials;
processing and selling Calcium cyanamide and guanidine nitrate.
SC is mainly
engaged in processing and selling chemicals and chemical raw materials.
Mr. Shi Shaofeng
has been legal representative and chairman of SC since 2003.
SC is known
to have approx. 200 employees 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 Shizuishan. Our checks
reveal that SC owns the total premise about 50,000 square meters.
http://www.jiafengchem.com.cn/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: xiehaoszs@163.com
SC’s former license number was
6402002201582, it has been changed to the present one.
SC’s quality system meets the international standards of ISO 9001.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Shi Shaohua 6.6
Shi Shaofeng 52.6
Shi Shaoyun 9.2
Other shareholders 31.6
l
Chairman & General Manager:
Mr. Shi Shaofeng, ID # 640203770201051, 31 years old with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in processing and selling chemicals and chemical raw materials.
SC’s products mainly include Dicyandiamide, Dicyandiamide–Electronic Grade,
Micro-Dicyandiamide, Guanidine Nitrate, Micro-Guanidine Nitrate, and etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market, mainly U.S.A. and Europe. SC sells 70% of
its products in domestic market, and 30% to overseas market, mainly Southeast
Asian market.
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 is considered medium-sized in its line with a short
history. Taking into consideration of SC’s general performance, reputation as well
as market conditions we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)