MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
XI'AN BINGXIN COMMERCIAL TRADING CO., LTD. |
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Registered Office : |
No. 28 Jiefang Road, Xi’an, Shanxi Province, 710000 Pr |
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Country : |
China |
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Date of Incorporation : |
23.07.2008 |
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Com. Reg. No.: |
610100100094697 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Mechanical Equipment. |
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 : |
Unknown |
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Litigation : |
Clear |
name & address
XI'AN
BINGXIN COMMERCIAL TRADING CO., LTD.
NO. 28 JIEFANG ROAD, XI’AN, SHANXI PROVINCE,
710000 PR CHINA
TEL: 0086-29-88576756 FAX:
0086-29-61294083
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUL. 23, 2008
REGISTRATION NO. :
610100100094697
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. GUO LIBIN (CHAIRMAN)
STAFF STRENGTH :
30
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : COD TO
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.85 = 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
Note: SC is operating in the heading address, while the
given one (No. 48 Jixiang Road, Xi’an, Shanxi Province) is SC’s warehouse
address.
SC was registered as a limited liabilities co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on Jul. 23, 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 selling cosmetics, hardware, garments,
labor protection articles, mechanical equipment, class I medical devices,
textiles, electronic products, building materials, office supplies and
packaging products (excluding specially controlled commodities).
SC is mainly
engaged in selling mechanical equipment.
Mr. Guo Libin has
been legal representative and chairman of SC since Jul. 23, 2008.
SC is known to have approx. 30 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Xi’an. Our checks reveal that SC
rents the total premise about 180 square meters.
http://www.xabingxin.cn
The design is professional and the content is well organized. At present it is
both in Chinese and English versions.
E-Mail: xian_bingxin@163.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Guo Libin 60
Yao Jinfei 40
l
Legal representative and chairman:
Mr. Guo Libin, with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From Jul. 23, 2008 to present Working in SC as chairman and legal representative.
SC is mainly
engaged in selling mechanical equipment.
SC’s products mainly include: environmental protection equipment,
mechanical equipment and component.
SC sources its merchandises 90% from the overseas market and 10% from
domestic market. SC sells 100% of its merchandises in domestic market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, T/T, 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 declined to
release its banking details.
Incorporated as a new company in 2008, SC’s financial reports are not available.
SC was established recently in 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.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)