MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHANGHAI CHANGHUI INTERNATIONAL TRADING CO LTD |
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Registered Office : |
Room 601, No. 59, 399 Lane Jufeng Road, Shanghai, 200129 Pr |
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Country : |
China |
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Date of Incorporation : |
12.12.2007 |
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Com. Reg. No.: |
310227001362243 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Trader of
Chemical Products, Textiles, Etc. |
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
SHANGHAI CHANGHUI INTERNATIONAL TRADING Co.,
Ltd.
ROOM 601, no. 59, 399 lane JUFENG ROAD,
SHANGHAI, 200129 PR CHINA.
399 59 601
TEL: 86 (0) 21-58659220 FAX: 86 (0) 21-33829204
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 12, 2007
REGISTRATION NO. : 310227001362243
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
5
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : COD TO SMALL AMOUNT
MARKET CONDITION : fair
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.86374 = US$ 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 December 12, 2007.
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 wholesaling and retailing electronic products, office
supplies, communication equipment, general machine equipment, building
materials, chemical products (excluding
hazardous chemicals), automobile parts, general merchandise, textiles, computer software and hardware,
garments; commercial information consulting; importing and exporting
commodities and technology (with permit if needed).
SC is mainly
engaged in trading chemical products, textiles, etc.
Mr. Huang Weiwei
has been legal representative and chairman of SC since December 2007.
SC is known to have approx. 5 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and head office in the commercial zone of Shanghai. Our checks
reveal that SC owns the total premise about 100 square meters.
SC is not known to host website of its own at present.
Mr. Huang Weiwei released that SC started normal operation recently in
2008.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Huang Weiwei 90
Yan Dan 10
l
Legal representative, chairman and general
manager:
Mr. Huang Weiwei, about 30 years old, with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working
in SC as chairman, legal representative and general manager.
SC is mainly
engaged in trading chemical products, textiles, etc.
Main Products:
chemical products, plastic, textiles, etc
SC sources its materials 100% from overseas
market, mainly USA and Europe. SC sells 100% of its products in domestic
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 and Credit of 30-60 days.
*Major Suppliers:
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Nifco (HK) Ltd
*Major Customers:
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Wuxi Shengtong
Composite Materials Co., Ltd
Suzhou Tongye
Chemical Co., Ltd
Note: We managed to contact Ms. Yan Dan, a shareholder of SC, through the
given tel. number, and she said she had never heard of Shanghai Genetek Trading
Co., Ltd.
SC’s legal
representative Mr. Huang released that he used to work in Shanghai
Genetek Trading Co., Ltd., but he refused to disclose any information of the
company; he also uncovered that SC started normal operation in July of 2008.
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’s suppliers
declined to make any comments.
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.
Huaxia Bank Shanghai Pudong Sub-branch
AC#
4331200001810200108434
Relationship:
Normal.
SC was established in 2007, and its annual financial reports are not
available at present.
SC is considered small-sized in its line with a short history, and its
credit has not been established yet. Credit dealings with SC are recommended
under secured terms at present.
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%)