MIRA
INFORM REPORT
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Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
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Name : |
NINGXIA
JIAFENG CHEMICALS CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.06.2003 |
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Com. Reg. No.: |
640200200000450 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Processing and selling chemicals and chemical raw materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
NINGXIA JIAFENG CHEMICALS CO., LTD.
huinong,
shizuishan, ningxia 753200 PR
TEL: 86
(0) 952-7682302/7682009/7681966 FAX:
86 (0) 952-7681172
EXECUTIVE SUMMARY
INCORPORATION DATE : june 24, 2003
REGISTRATION NO. : 640200200000450
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 300
REGISTERED CAPITAL :
CNY 40,000,000
BUSINESS LINE : PROCESSING and trading
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.83 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 June 24, 2003.
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 export its products and technologies;
importing business of the materials, machinery, parts and technology needed for
its produce, excluding the import and export commodity and technology defined
or prohibited by the government; manufacturing and selling cyanoguanidine and
cyanoguanidine with electronic grade; selling acetylene carbon black,
carburetant, chemicals, hardware, mechanical and electrical equipment and
building materials; processing and selling Calcium cyanamide and guanidine
nitrate.
SC is
mainly engaged in processing and selling chemicals and chemical raw materials.
Mr.
Shi Shaofeng has been legal representative, chairman and general manager of SC
since 2003.
SC is
known to have approx. 300 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Shizuishan. SC’s management declined to release the detailed information of the
premise.
http://www.jiafengchem.com.cn/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: salesjiafeng@163.com
SC’s quality system meets the international standards of ISO
9001.
Changes
of SC’s registered information:
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Date
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Item
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Before
changed |
After
changed |
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2009 |
Registered capital |
CNY 15,000,000 |
CNY 40,000,000 |
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Shareholders |
Shi Shaohua 6.6%; Shi Shaofeng 52.6%; Shi Shaoyun 9.2%; Other shareholders 31.6% |
Shi Shaohua 4%; Shi Shaofeng 56%; Shi Shaoyun 13%; Shi Shaojuan 9%; Shi Shaojia 18% |
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Unknown |
Registered capital |
6402002201582 |
640200200000450 |
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MAIN SHAREHOLDERS:
Name
% of Shareholding
Shi Shaohua 4
Shi Shaofeng 56
Shi Shaoyun 13
Shi Shaojuan 9
Shi Shaojia 18
l
Legal Representative, Chairman &
General Manager:
Mr. Shi Shaofeng ID #
640203770201051, 33 years old with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working in SC as legal
representative, chairman and general manager
SC is
mainly engaged in processing and selling chemicals and chemical raw materials.
SC’s products mainly include Dicyandiamide, Dicyandiamide–Electronic
Grade, Micro-Dicyandiamide, Guanidine Nitrate, Micro-Guanidine Nitrate, and
etc.
SC sources its materials 80%
from domestic market, and 20% from overseas market, mainly
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, L/C and Credit of 30-60
days.
According to SC’s website:
Suzhou Jiafeng Chemical Co., Ltd.
Address:
Room 407,
Tel: 0512-66983986
Fax: 0512-66983639
Email: suzhoujiafengchem@163.com
Guangzhou Jiafeng Chemical Co., Ltd.
Address:
Room 614,
Tel: 020-89232898
Fax: 020-89232859
Email: gzjiafeng@gmail.com
Jiafeng Chemicals USA Co., Ltd.
Address:
Tel: 001-(626)581-0501
Fax: 001-(626)581-0506
Email: jiafengusa@yahoo.com
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’s
management declined to release its bank details.
SC’s
financial reports were not found during our checks with the local
Administration for Industry and Commerce.
SC’s
management declined to release any financial information.
SC is considered medium-sized in its line with a developing
history of 7 years. Taking into consideration of SC’s general performance, reputation
as well as market conditions, credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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1 |
Rs.70.61 |
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Euro |
1 |
Rs.58.63 |
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 |
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.