MIRA
INFORM REPORT
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Report Date : |
14.04.2012 |
IDENTIFICATION DETAILS
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Name : |
NINGBO XINGLUN BEAD WIRE CO.,
LTD. |
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Registered Office : |
No. 59, Weiliu Road, Xiaogang, Beilun District, Ningbo, Zhejiang Province 315800 Pr |
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Country : |
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Date of Incorporation : |
22.04.2004 |
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Com. Reg. No.: |
330200400037629 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing and selling steel wires. |
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No. of Employees : |
130 |
RATING & COMMENTS
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MIRAs 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 and address
NINGBO XINGLUN BEAD WIRE CO., LTD.
NO. 59, WEILIU
ROAD, Xiaogang, BEILUN DISTRICT,
NINGBO, ZHEJIANG
PROVINCE 315800 PR CHINA
TEL: 86 (0) 574-86173355 FAX:
N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : APR.
22, 2004
REGISTRATION NO. :
330200400037629
REGISTERED LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
STAFF STRENGTH :
130
REGISTERED CAPITAL : USD 4,800,000
BUSINESS LINE : MANUFACTURING
TURNOVER :
N/A (AS
OF DEC. 31, 2010)
EQUITIES :
N/A (AS
OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.29 =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 is also known as Ningbo Xinglun Steel Wire Co.,
Ltd.
SC was registered as a wholly foreign-owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Apr. 22, 2004.
Company Status: Wholly foreign-owned
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. established within
the territories of PR China with capital provided totally by the foreign
investors. More than one foreign investor may jointly invest in a wholly
foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This
form of companies usually have a limited duration is extendible upon
approval of Examination and Approval Authorities.
SCs registered business scope includes manufacturing metal wires &
products.
SC is mainly engaged in manufacturing and
selling steel wires.
Mr.
Chen Yongjun is the legal representative
and chairman of SC at present.
SC is known
to have approx. 130 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 Ningbo City. The
detailed premise information is unknown.
http://www.zjtianlun.com/
It includes the information on SC and its related companies. The design is
professional and the content is well organized. At present the web site is in
Chinese and English versions.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Hong Kong Xing Lun International Holdings
Limited 100
Registration No. : 0878163
Establishment Date: Jan. 7, 2004
Legal Form: Private
l
Legal Representative and Chairman:
Mr. Chen Yongjun , with university education. He 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 steel wires.
SCs products mainly include: bead wire, etc.
SC sources its materials
60% from domestic market and 40% from overseas market. SC sells 50% of its
products in domestic market and 50% 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.
According to http://www.zjtianlun.com/
Zhejiang Tianlun Steel Wire Co., Ltd.
Hangzhou Tianlun Steel Wire Co., Ltd.
Etc.
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.
The banking
information of SC is unknown.
SCs management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered medium-sized in its line with a development history of 8
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.51.42 |
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1 |
Rs.81.93 |
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Euro |
1 |
Rs.67.67 |
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 SCs 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.