MIRA INFORM REPORT
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Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
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Name : |
CIXI CITY HENGHE JIAHUI BEARING FACTORY |
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Registered Office : |
Henghe Industrial
Zone, Cixi City, Zhejiang Province 315318 Pr |
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Country : |
China |
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Date of Incorporation : |
20.05.2009 |
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Com. Reg. No.: |
330282604012107 |
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Legal Form : |
Individual-Owned Enterprise |
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Line of Business : |
processing and selling bearings and parts |
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No. of Employees
: |
20 persons |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
cixi city henghe jiahui bearing factory
henghe industrial zone, cixi city, zhejiang
province 315318 PR CHINA
TEL: 86 (0) 574-63251166/13646662542
FAX: 86 (0) 574-63105501
EXECUTIVE SUMMARY
Date of Registration : may 20, 2009
REGISTRATION NO. : 330282604012107
LEGAL FORM : Individual-owned enterprise
REGISTERED CAPITAL : N/A
staff : 20
BUSINESS CATEGORY : processing
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: c.o.d.
MARKET CONDITION : fair
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.36 = USD 1
Adopted abbreviations
(As Follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as an individual-owned enterprise of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 330282604012107 on May 20,
2009.
SC’s Organization Code Certificate
No.: L2562750-7
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Investor |
|
Ma Zongbo |
SC’s Chief Executives:-
|
Position |
Name |
|
Manager |
Ma Zongbo |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name
Ma Zongbo
The amount of Investment: CNY 50,000
MANAGEMENT
Ma Zongbo, Manager
----------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as manager
Xu Chongquan , Sales Manager
----------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Mobile:
86 (0) 13805820648
Also working in Cixi Henghe Chongbo Bearing Factory as
manager
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
processing bearings and parts; operating and acting as an agent of importing and
exporting commodities and technology, excluding the goods forbidden by the
government.
SC is mainly
engaged in processing and selling bearings and parts
Brand: CJY
SC’s
products mainly include:
l
Stock bearing ball bearing
l
Deep Groove Ball Bearing 6201
l
MPZ,M2,CJY Ball Bearings
l
Used bearing ball bearing
l
Old bearing ball bearing
SC sources its materials 100% from domestic
market. SC sells 70% of its products in domestic market, and 30% to overseas
market, mainly India, Pakistan, and Middle East.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
*Major Local Competitor:
===================
Cixi
Henghe Town Wenke Bearing Factory
Cixi
Henghe Town Fansheng Bearing Factory
Cixi
Henghe Haotian Bearing Factory
Cixi
Henghe Junliang Bearing Factory
Cixi
Henghe Town Litian Bearing Factory
Staff & Office:
--------------------------
SC is
known to have approx. 20
staff at present.
SC rents an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
n
Cixi
Henghe Chongbo Bearing Factory
-----------------------------------------------------
Date of Registration: July 5, 2006
Registration No.: 330282604023561
Legal Form: Individual-Owned
Enterprise
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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 records 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
As an individual-owned
enterprise, SC is not required to submit its financials to the local SAIC.
CONCLUSIONS
SC is considered as a small-sized company in its line with a development
history of 2 years. Great caution is required in providing credit to SC and
C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.42 |
|
UK Pound |
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.