MIRA
INFORM REPORT
|
Report Date : |
19.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHONGQING DRAGON MECHANICAL AND ELECTRONICAL CO LTD |
|
|
|
|
Registered Office : |
12-A1, Crystal Int’l Mansion, No.220 Zhongshan 1st Road, Yuzhong
District, Chongqing |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
May. 22, 2006 |
|
|
|
|
Com. Reg. No.: |
5001032111559 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Selling Motorcycles, All-Terrain
Vehicles, Engines, Diesel Motors, Ordinary Machinery, Electric
Motorcars and Components. |
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
CHONGQING DRAGON MECHANICAL AND ELECTRONICAL
CO., LTD.
12-A1, CRYSTAL INT’L MANSION, NO.220 ZHONGSHAN 1ST ROAD,
YUZHONG DISTRICT, CHONGQING, PR CHINA
220 12-A1
TEL: 0086-23-63512970
FAX: 0086-23-63522162
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY. 22, 2006
REGISTRATION NO. :
5001032111559
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. ZHENG XIHUI (CHAIRMAN)
STAFF STRENGTH :
10
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE :
WHOLESALING
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
SMALL AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 7.24710=US1$
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 one-person limited liability company at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on May. 22, 2006.
Company Status: One-person
Limited Liability Company Single
person LLC refers to a limited liability company set up by only one natural
person or legal person as the single shareholder of it. The
minimum registered capital of Single person LLC is CNY100,000. The
shareholder’s capital contributes, as set out by the articles of
associations should be a lump-sum payment in full. One
natural person can only invest in and set up one limited liability company,
which is not permitted to invest in and set up a new Single person LLC. As to
any one-person limited liability company, the sole-investor nature of the
natural person or legal person shall be indicated in the registration
documents of the company and shall be indicated in the business license
thereof as well. The
regulation of Single person LLC should be set up by the shareholder The
regulation of Single person LLC has no shareholder meeting.
SC’s registered business scope includes selling common machines, electrical
apparatus and equipment, motorcycles and components, metal materials (excluding
precious metals), minerals (excluding the items that need permit according to
law and administrative regulations), household appliances, chemical products
(excluding dangerous articles), electronic and rubber products; importing
and exporting commodities (not to engage in any
items prohibited by law and administrative regulations, able to engage in items
that needs permit according to law and administrative regulations, after
obtaining the permit from relative authorities).
SC is mainly
engaged in selling motorcycles, all-terrain
vehicles, engines, diesel motors, ordinary machinery, electric motorcars
and components.
Mr. Zheng Xihui has
been legal representative and chairman of SC since 2006.
SC is known to have approx. 10 staff members at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Chongqing. Our checks reveal that SC
owns the total premise, but SC’s accountant refused to release the gross area
of the premise.
http://www.dragonmot.com The design is professional and the content
is well organized. At present it is in English version.
E-Mail: info@dragonmot.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zheng Xihui 100
l
Legal representative and chairman:
Mr. Zheng Xihui, with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From 2006 to present Working
in SC as chairman and legal representative.
SC is mainly
engaged in selling motorcycles, all-terrain
vehicles, engines, diesel motors, ordinary machinery, electric motorcars
and components.
SC’s products mainly include: motorcycles, engines and diesel motors.
SC sources its merchandises 100% from domestic market. SC sells 30% of
its merchandises in domestic market, and 70% to overseas marker, mainly in
America, Australia and Europe.
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.
SC’s financial reports were not found during our checks with local AIC.
SC’s management declined to release any financial information.
SC is considered small-sized in its line with a short operating history.
Credit in the range of small amount can be considered.
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%)