MIRA INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
CHONGQING HONGMEI TECHNOLOGY CO., LTD. |
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Registered Office : |
No. 9, |
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Country : |
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Date of Incorporation : |
15.09.2000 |
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Com. Reg. No.: |
500104000005416 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling general electromechanical products, the
internal combustion engine, agricultural machinery products |
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No. of Employees
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180 |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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China |
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 & address
chongqing hongmei technology CO., LTD.
NO. 9, HUZHU
VILLAGE, BAQIAO TOWN, DADUKOU DISTRICT,
CHONGQING, 400084
PR CHINA
TEL: 86 (0)
23-68831965/68935586 FAX: 86 (0)
23-68952793
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 15, 2000
REGISTRATION NO. : 500104000005416
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
180
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3012 = usd 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 co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Sep. 15, 2000.
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 manufacturing & selling auto parts, motorcycle parts
(excluding engines), general electromechanical products, the internal
combustion engine (gasoline ≤ 8.50KW General), agricultural machinery
products; selling metal materials (excluding precious metal) and motorcycle;
research and development of electronic products and CNC Machinery products;
importing & exporting commodities.
SC is mainly
engaged in manufacturing and selling general electromechanical products, the
internal combustion engine, agricultural machinery products.
Mr. Shen Hongbin
is legal representative and chairman of SC at present.
SC is known to
have approx. 180 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 Chongqing. SC’s employee refused
to release the detailed information of the premise.
http://www.goodmachines.cn The
design is professional and the content is well organized. At present it is in both
Chinese and English versions.
Qualifications:
SC has obtained the ISO9001: 2000 international quality management
system certificate and some products by the European CE certification.
No significant changes were found during our checks with the local AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shen Hongbin 25
Jiang Xiumei 75
l
Legal representative and chairman:
Mr. Shen Hongin is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
SC is mainly
engaged in manufacturing and selling general electromechanical products, the
internal combustion engine, agricultural machinery products.
SC’s products mainly include: water pump, generator, gasoline engine,
power sprayer, power tiller, construction machinery.
According to SC’s website, the annual
production capacity is 300,000 units.
SC sources its materials 100% from domestic
market. SC sells 80% of its products in domestic market, and 20% to overseas
market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its main clients
and suppliers.
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 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.
SC declined to
release its banking 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 12 years operation
history. Credit confined into small 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.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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 |
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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.