MIRA
INFORM REPORT
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Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU YINCHUN MACHINERY CO.,LTD. |
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Registered Office : |
No.48, Jianshe No.2 Rd, Ningwei , Xiaoshan Zhejiang Province Of China |
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Country : |
China |
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Date of Incorporation : |
1996 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
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No. of Employees : |
113 |
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 and address
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Hangzhou Yinchun Machinery Co.,Ltd. |
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Business Description
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HANGZHOU YINCHUN MACHINE CO.,LTD was
established in December 1996 in Zhe Jiang.It was registered as a Foreign Owned
company.The Company belongs to the Small and Heavy industry specialized in
Weaving Equipment Manufacturing. Main products include: Water jet loom;
Loom.It uses the following brand: YIN CHUEN. Founded in 1996, Hangzhou
Yinchun Machine Co., Ltd. was fully invested in by the Taiwanese enterprise,
YIINCHUEN Machine Co., Ltd. Established in Taipei in 1978, from shuttle to
shuttle, YIINCHUEN has accumulated over 25 years experience in manufacturing
weaving machines. And now, YIINCHEUN is a leading manufacture of water jet
looms in Taiwan. Not only are they widely sold in the local market, they are
also exported all over the world. Under the continuous support of an
experienced R&D department, YIIN CHEUN proudly presented its first model
JW-800 water jet loom in 1985; in 1988 completed research for two nozzle
looms, model JW-802. But it doesnt stop there now the product range has
expanded to include models JW-851, JW-861, JW-852CH, JW-651C-T and
JW-662CH-2P which are all super high-speed water jet looms. All research and
innovation were accomplished in order to meet the requirements of customers
worldwide. In 1996, YIIN CHEUN set up its subsidiary company, Hangzhou
Yinchun Machine Co., Ltd. Hangzhou Yinchun is now one of the largest
manufacturers of water jet looms in Mainland China. At Hangzhou Yinchun, we
produce all of the JW series of water jet looms; one nozzle, two nozzle and
three nozzle types with mechanical or electronic weft feeders, single or
double pumps, plain shedding, tappet shedding or dobby shedding style. Up
until 2005, weve sold over 45,000 sets of water jet looms all over the world.
It is our promise to continue to offer more and more high quality water jet
looms featuring innovative designs. For further details, please do not
hesitate to contact us today. |
Industry
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Industry |
Miscellaneous
Capital Goods |
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ANZSIC 2006: |
2469 - Other
Specialised Machinery and Equipment Manufacturing |
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NACE 2002: |
2954 -
Manufacture of machinery for textile, apparel and leather production |
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NAICS 2002: |
333292 - Textile
Machinery Manufacturing |
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UK SIC 2003: |
2954 -
Manufacture of machinery for textile, apparel and leather production |
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US SIC 1987: |
3552 - Textile
Machinery |
Key Executives
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Profit & Loss Item Exchange Rate: USD 1 = CNY 6.831007
Balance Sheet Item Exchange Rate: USD 1 = CNY 6.827
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.14 |
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1 |
Rs.86.00 |
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Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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.