MIRA INFORM REPORT
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Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
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Name : |
JILIN GADOSH CONTACT LENS CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.09.2008 |
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Com. Reg. No.: |
222404400001023 |
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Legal Form : |
One - Person Limited Liability Company |
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Line of Business : |
manufacturing and
selling contact lens |
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No. of Employees
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80 |
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
JILIN
GADOSH CONTACT LENS CO., LTD.
GUANGMING STREET,
HUNCHUN CITY, JILIN PROVINCE 133301 PR CHINA
TEL: 86 (0) 433-7712266 FAX: 86
(0) 433-7712255
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 27, 2008
REGISTRATION NO. :
222404400001023
REGISTERED LEGAL FORM : ONE-PERSON
LIMITED LIABILITY COMPANY
STAFF STRENGTH :
80
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS
OF DEC. 31, 2010)
EQUITIES :
N/A (AS
OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 =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 One-person Limited Liability Company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Sep. 27, 2008.
Company Status: One-person Limited Liability
Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes manufacturing
corneal contact lens, soft contact lens care fluid & accessories; importing
and exporting commodities and technologies, excluding commodities and
technologies prohibited by the state.
SC is mainly engaged in manufacturing and
selling contact lens.
Ms. Lin
Yu is the legal representative, chairman and general manager of SC at present.
SC is
known to have approx. 80 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in Hunchun. The
detailed premise information is unknown.
http://www.gadosh.com.cn/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
Email: gadosh@msn.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Lin Yu 100
Legal Representative,
Chairman and General Manager:
Ms. Lin Yu, with university education. She is
currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager.
SC is mainly engaged in manufacturing and selling contact lens.
SC’s products mainly include: colour
contact lens, toric lens, etc.
SC sources its materials 50% from domestic
market and 50% from overseas market. SC sells 60% in domestic market and 40% 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 T/T,
L/C, Check and Credit of 30-60 days.
Note: SC declined to release its major suppliers and
clients.
SC is not known to have the 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’s management declined to release whether it has account in Bank of
China Hunchun Branch.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered small-sized in its line with a development history of 4
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.