MIRA INFORM REPORT
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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
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Name : |
HEFEI XY TRADE CO., LTD. |
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Registered Office : |
Room 407, Block 22, No. 251, Jixi Road, Shushan District,
Hefei, Anhui Province, 230022 Pr |
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Country : |
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Date of Incorporation : |
21.10.2009 |
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Com. Reg. No.: |
340100000362826 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Mica
Products |
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No. of Employees
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06 |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
hefei xy trade CO.,
LTD.
ROOM 407, BLOCK 22,
NO. 251, JIXI ROAD, SHUSHAN DISTRICT, HEFEI,
ANHUI province,
230022 PR CHINA
TEL: 86 (0)
551-7128819/ 13515603028
FAX: 86 (0)
551-7128819
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 21, 2009
REGISTRATION NO. : 340100000362826
REGISTERED LEGAL
FORM : Limited liabilities company
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 300,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.3052 = 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
Note: SC’s detailed address should be the heading one.
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 Oct. 21, 2009.
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 import & export business, selling textiles, general
merchandise, hardware, mica products, insulation materials, plastic products
(excluding dangerous goods), chemical products and electrical products.
SC is mainly
engaged in selling mica products.
Hou Xianyu is
legal representative and chairman of SC at present.
SC is known to
have approx. 6 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Hefei. SC’s employee refused
to release the detailed information of the premise.
SC is not known to host website of its own at present.
Email: chenwen2@vip.sohu.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Hou Xianyu 55
Chen Wen 45
Legal representative
and chairman:
Hou Xianyu 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 selling mica products.
SC’s products mainly include: mica products.
SC sources its materials 20% from domestic
market, and 80% from overseas market. SC sells 90% of its products in domestic
market, and 10% to overseas market.
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.
Note:
SC refused to release its main clients and suppliers.
Anhui Native
Produce Import & Export Corporation
Web: http://www.ahperfume.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 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 small-sized in its line with a development history of 3
years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.05 |
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UK Pound |
1 |
Rs.81.09 |
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Euro |
1 |
Rs.67.39 |
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.