MIRA
INFORM REPORT
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Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
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Name : |
HUBEI GREEN ELECTRICAL INSULATION MATERIALS
CO., LTD. |
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Registered Office : |
Magang Industrial Park, Tongcheng County, Xianning, Hubei PROVINCE, 437400 PR |
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Country : |
China |
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Date of Incorporation : |
09.05.2011 |
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Com. Reg. No.: |
422324000006661 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
manufacturing and selling mica
products |
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No. of Employees : |
50 |
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 : |
Unknown |
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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
Hubei Green Electrical Insulation Materials Co., Ltd.
magang industrial
park, tongcheng county,
xianning, hubei
PROVINCE, 437400 PR CHINA
TEL: 86 (0)
715-4910169/4910188 FAX: 86 (0)
715-4910159
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 9, 2011
REGISTRATION NO. : 422324000006661
REGISTERED LEGAL FORM : ONE-PERSON
LIMITED LIABILITY COMPANY
STAFF STRENGTH : 50
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.36 = 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 Hubei Gelin Electric Material Co., Ltd.
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 May 9, 2011.
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 and selling
mica products; exporting its products; importing business of materials,
instrument, machinery and equipment, parts and technology needed for the manufacturing
of them; processing with the imported materials.
SC is mainly
engaged in manufacturing and selling mica products.
Mr.
Qiu Yu is legal representative, chairman and general
manager of SC at present.
SC is known to have approx. 50 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 Tongcheng. The detailed information of the premise
is unspecified.
www.glmica.com the website belongs
to Tongcheng Zhongtian Mica
Products Co., Ltd. and SC. The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
Email: info@glmica.com ; judy@glmica.com
No significant events or changes were found during our checks
with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Qiu Yu 100
Legal
representative, Chairman and General manager:
Mr. Qiu Yu 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 mica products.
SC’s products
mainly include: mica paper, mica plate, mica tape and mica tube.
SC sources its materials 80%
from domestic market, and 20% from overseas market. SC sells 70% of its
products in domestic market, and 30% 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’s management declined to release its customer and supplier
details.
Tongcheng Zhongtian Mica
Products Co., Ltd.
Legal
representative: Qiu Qiongxiong
Registered
no.: 422324000003407
Date
of incorporation: Dec. 29, 2001
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’s management
declined to release its bank 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 short history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.98 |
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UK Pound |
1 |
Rs.87.55 |
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Euro |
1 |
Rs.68.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.