MIRA INFORM REPORT

 

 

Report Date :           

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

DAOSHANG GROUP WENZHOU PLASTIC MACHINERY CO., LTD.

 

 

Registered Office :

Shifu Road, Aojiang Town, Pingyang County, Wenzhou, Zhejiang Province 325401 Pr

 

 

Country :

China

 

 

Date of Incorporation :

11.03.2011

 

 

Com. Reg. No.:

330326000056358

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

manufacturing and Selling Plastic Machinery

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 5,000

 

 

Status :

New & Small Company 

 

 

Payment Behaviour :

No Complaints

 

 

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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

daoshang group wenzhou plastic machinery co., ltd.

shifu road, aojiang town, pingyang county, wenzhou

zhejiang province 325401 PR CHINA

TEL: 86 (0) 577-63261902/63261903

FAX: 86 (0) 577-63261900

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : march 11, 2011

REGISTRATION NO.                  : 330326000056358

LEGAL FORM                           : Limited liabilities company

CHIEF EXECUTIVE        : zhou chuandui (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 2,000,000

staff                                      : 60

BUSINESS CATEGORY             : manufacturing

Revenue                                : n/a

EQUITIES                                 : n/a

WEBSITE                                 : www.daosmachine.com

E-MAIL                                     : market@dsmachinery.cn

PAYMENT                                : AVERAGE

Recommended Credit Limit: UP TO USD 5,000 (PERIODICAL REVIEW)

MARKET CONDITION                : AVERAGE

FINANCIAL CONDITION             : n/a

OPERATIONAL TREND  : ORDINARY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.38 = 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 a limited liabilities company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 330326000056358 on March 11, 2011.

 

SC’s Organization Code Certificate No.: 57057735-4

 

SC’s registered capital: cny 2,000,000

 

SC’s paid-in capital: cny 2,000,000

 

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:-

 

Name of Shareholder (s)

% of Shareholding

Daoshang Group Co., Ltd.

 

20

Zhou Chuandui

 

21

Chen Chongxi

 

20

Chen Shanshan

 

20

Chen Zhengli

 

19

 

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative, Chairman, and General Manager

Zhou Chuandui

Director

Chen Chongxi

Chen Shanshan

Chen Zhengli

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                                  % of Shareholding

Daoshang Group Co., Ltd.                                                                                  20

Zhou Chuandui                                                                                                   21

Chen Chongxi                                                                                                    20

Chen Shanshan                                                                                                 20

Chen Zhengli                                                                                                     19

 

*         Daoshang Group Co., Ltd.

=======================

Date of Registration: August 15, 1988

Registration No.: 330326000028792

Legal Form: Limited Liabilities Company

Chief Executive: Xu Daoshang

Registered Capital: CNY 100,000,000

 

 

MANAGEMENT

 

Zhou Chuandui, Legal Representative, Chairman and General Manager

--------------------------------------------------------------------------------------------------------

Ø         Gender: M

Ø         Age: 40

Ø         ID# 330326197106053310

Ø         Qualification: University

Ø         Working experience (s):

 

At present, working in SC as legal representative, chairman and general manager

 

Director

-----------

Chen Chongxi    ID# 330326196708141233

Chen Shanshan ID# 330326197508190027

Chen Zhengli     ID# 330326197012181215

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes manufacturing, processing and selling plastic machinery, construction machinery, knitting machinery.

 

SC is mainly engaged in manufacturing and selling plastic machinery.

 

SC’s products mainly include:

Mesh Bag Making Machine

Monofilament extrusion machine

PP Non-woven fabric machine

PP woven sack making machinery

Plastic packaging machinery

Plastic machinery components

   

SC sources its materials 100% from domestic market, mainly Zhejiang. SC sells 65% of its products in domestic market, and 35% to overseas market, mainly USA, Mid East, Europe and Southeast Asia.

 

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.

 

Staff & Office:

--------------------------

SC is known to have approx. 60 staff at present.

 

SC owns an area as its operating office & factory of approx. 5,000 sq. meters at the heading address.

 

 

RELATED COMPANY

 

n         Daoshang Group Wenzhou Longteng Stationery Co., Ltd.

---------------------------------------------------------------------------

Date of Registration: April 15, 2011

Registration No.: 330326000058339

Legal Form: Limited Liabilities Company

Chief Executive: Zhang Zhenli

Registered Capital: CNY 3,000,000

 

 

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 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

 

Established as a new company in 2011, SC’s financials are not available at present.

 

 

CONCLUSIONS

 

SC is considered small-sized in its line with a short history. But taking into consideration of SC’s good background, a credit line up to USD 5,000 is recommended upon a periodical review basis.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.