MIRA
INFORM REPORT
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Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
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Name : |
GFL INTERNATIONAL CO.
LTD. |
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Registered Office : |
C/o Orion House Secretarial Ltd. Room 1401, 14/F., World Commerce Centre, Harbour City, 7‑11 Canton Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
29.03.2011 |
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Com. Reg. No.: |
58149412 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Manufacturer of Lithium chloride, lithium
fluoride, lithium carbonate, lithium hydroxide, lithium magnesium alloy, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong
|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 and address
GFL INTERNATIONAL
CO. LTD.
ADDRESS: c/o Orion House Secretarial
Ltd.
Room 1401, 14/F., World Commerce Centre,
Harbour City, 7‑11 Canton Road, Tsimshatsui, Kowloon, Hong
Kong.
PHONE: 2736 7372
FAX: 2736 8895
MANAGEMENT
Group Chairman & President:
Mr. Li Liang Bin
SUMMARY
Incorporated on: 29th
March, 2011.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Importer, Exporter and Manufacturer.
Parent Turnover: RMB359,722,325.78
Yuan (Year ended 31-12-2010)
Employees:
Nil. (Hong Kong)
Main Dealing Banker: Bank of Communications Co. Ltd., Hong Kong
Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
c/o Orion House Secretarial Ltd.
Room 1401, 14/F., World Commerce Centre, Harbour City, 7‑11 Canton Road,
Tsimshatsui, Kowloon, Hong Kong.
Holding Company:-
Jiangxi Ganfeng Lithium Co. Ltd., China.
Associated Companies:-
Ganfeng Group of Companies
Fengxin Ganfeng Lithium Co. Ltd., China.
Fengxin Ganfeng Regeneration Lithium Resources Co. Ltd., China.
Jiangxi Ganfeng Lithium Power Battery Co. Ltd., China.
Wuxi Sunenergy Lithium Industrial Co. Ltd., China.
Xinyu Ganfeng Lithium Sale Co. Ltd., China.
Xinyu Ganfeng Organic Lithium Co. Ltd., China.
Xinyu Ganfeng Transportation Co. Ltd., China.
Yichun Ganfeng Lithium Co. Ltd., China.
BUSINESS REGISTRATION NUMBER
58149412
COMPANY FILE NUMBER
1580183
MANAGEMENT
Group Chairman & President:
Mr. Li Liang Bin
Group Vice Chairman & Vice President: Mr. Wang Xiao Shen
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDER
(As per registry dated 29-03-2011)
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Name |
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No. of shares |
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Jiangxi Ganfeng Lithium Co. Ltd. Long Teng Road, Xin Yu City, Jiangxi Province, China. |
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1,000,000 ======= |
DIRECTORS
(As per registry dated 29-03-2011)
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Name (Nationality) |
Address |
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LI Liang Bin |
No. 21-4-2-9, Chang Qing Road (S), Yu Shui District, Xin Yu City,
Jiangxi Province, China. |
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WANG Xiao Shen |
No. 4-23-3-303, Xi Er Xiang, Nan Hu Road, Shui Mo Gou District, Wu Lu
Mu Qi City, Xinjiang Province, China. |
SECRETARY
(As per registry dated 29-03-2011)
|
Name |
Address |
Co. No. |
|
Orion House Secretarial Ltd. |
Room 1401, 14/F., World Commerce Centre, Harbour City, 7-11 Canton
Road, Tsimshatsui, Kowloon, Hong Kong. |
1296458 |
HISTORY
The subject was incorporated on 29th March, 2011 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Manufacturer.
Lines: Lithium
chloride, lithium fluoride, lithium carbonate, lithium hydroxide, lithium
magnesium alloy, etc.
Employees: Nil. (Hong Kong)
450. (China)
Materials/Commodities: Imports raw
materials from European countries, some of the Asian countries and finished
products from China.
Markets: China,
Southeast Asia, Japan, Europe, North America, etc.
Parent Turnover: RMB241,300,655.78 Yuan (Year
ended 31-12-2008)
RMB246,860,522.95
Yuan (Year ended 31-12-2009)
RMB359,722,325.78
Yuan (Year ended 31-12-2010)
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Parent Profits Attributable to
Shareholders:-
RMB38,931,551.50
Yuan (Year ended 31-12-2008)
RMB33,861,140.82
Yuan (Year ended 31-12-2009)
RMB42,642,305.09
Yuan (Year ended 31-12-2010)
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Too early to comment.
Banker: Bank of Communications Co. Ltd., Hong Kong.
Standing:
Small.
GENERAL
GFL International Co. Ltd. is a wholly-owned subsidiary of Jiangxi
Ganfeng Lithium Co. Ltd. [Ganfeng] which is a China-based firm.
The subject does not have its own operating office. Its registered office is in a commercial service
firm located at Room 1401, 14/F., World Commerce Centre, Harbour City, 7-11
Canton Road, Tsimshatsui, Kowloon, Hong Kong known as Orion House Secretarial
Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of
the subject. The subject has no
employees in Hong Kong.
The subject is trading in the products of Ganfeng which is a listed firm
in China.
Ganfeng is a hi-tech enterprise which was founded in 2000. Its business covers R&D, industry and
trade. Its factory site covers an area
of 300 Chinese acres. Its
registered capital was RMB75,000,000 Yuan and currently has 450 staff while 160
of them are engineers, technicians and administrators (80 of them have got
high-level and intermediate titles).
The corporate headquarter of Ganfeng is located at Longteng Road, Xinyu
Economic Development Zone, Jiangxi Province.
Its main products are lithium chloride, lithium fluoride, lithium
carbonate, lithium hydroxide, lithium magnesium alloy and so on.
Ganfeng has four subsidiary companies: Xinyu Ganfeng Organic Lithium Co.
Ltd. located at Hexia Town, Fairy Lake, Xinyu, Jiangxi Province, the main
products are butyl lithium and butyl chloride, widely applied in rubber, drugs
manufacture and spice. The second
subsidiary company is FengXin Ganfeng Lithium Co. Ltd. located at Fengtian
Development Zone, Fengxin County, Jiangxi Province, the leading products are
catalyst metal lithium, battery metal lithium and lithium processing, widely
applied in drugs manufacture, organic synthesis, battery, chemical industry and
metallurgy. The third subsidiary company
is Xinyu Ganfeng Lithium Sale Co. Ltd. located at Xinyu Economic Development
Zone, Jiangxi Province. The fourth
subsidiary company is Xinyu Ganfeng Transportation Co. Ltd. located at Hexia
Town, Fairy Lake, Xinyu, Jiangxi Province.
The products are sold to the United States, Germany, South Korea,
Holland and India. Ganfeng has got ISO
9001:2000, ISO 14001:2004 environmental management and GB/T18001:2001
occupational health and safety certification.
Its trademark “Ganfeng” is “Jiangxi Province famous
trademark”. The quality of its battery
level lithium fluoride passed the national authority in September, 2007. The standard number of the product is YS/T
661-2007.
For the year ended 31st December, 2010, the sales of Ganfeng amounted to
RMB359.7 million Yuan, grew by 45.7% as compared with that of RMB246.9 million
Yuan in FY 2009; net profit was RMB42.6 million Yuan, grew by 25.9% as compared
with that of RMB33.9 million Yuan in FY 2009.
It is likely that Ganfeng deals with foreign parties under the name of
the subject and let foreign firms correspond with the subject’s registered
address in Hong Kong. Ganfeng also
exports commodities to foreign markets under the name of the subject and its
registered address in Hong Kong.
The subject’s business in Hong Kong is not active. History in Hong Kong is about nine months.
Since the subject does not have its own operating office and has no
employees in Hong Kong, consider it good for business engagements on L/C basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
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|
1 |
Rs.82.53 |
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Euro |
1 |
Rs.69.13 |
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 |
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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-- |
NB |
New Business |
-- |
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.