MIRA
INFORM REPORT
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Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
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Name : |
JINHUA UNIVERSAL CANVAS
MANUFACTURING CO., LTD. |
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Registered Office : |
No. 9, Changwen Road, Anwen Town, Pan’an County, Jinhua, Zhejiang Province,
322300 PR |
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Country : |
China |
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Date of Incorporation : |
07.03.2003 |
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Com. Reg. No.: |
330700400003067 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture Enterprise |
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Line of Business : |
Manufacturing and selling frame, canvas volumes and
drawing board |
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No. of Employees : |
200 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
JINHUA UNIVERSAL CANVAS MANUFACTURING CO., LTD.
NO. 9, CHANGWEN ROAD, ANWEN TOWN, PAN’AN COUNTY,
JINHUA, ZHEJIANG PROVINCE, 322300 PR CHINA
TEL: 86 (0) 579-84667337/84663822 FAX:
86 (0) 579-84669669
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 7, 2003
REGISTRATION NO. :
330700400003067
REGISTERED LEGAL FORM :
CHINESE-FOREIGN EQUITY JOINT VENTURE
ENTERPRISE
CHIEF EXECUTIVE :
MR. YAN GUOLIANG (CHAIRMAN)
STAFF STRENGTH :
200
REGISTERED CAPITAL :
USD 726,800
BUSINESS LINE : MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3648 = USD
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
Chinese-foreign equity joint
venture enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on March 7, 2003.
Company Status:
Chinese-foreign equity joint venture enterprise This form of business in PR China
is defined as a legal person. It is a limited co. jointly invested by one
or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition position
in international market may extend beyond the 50 years limit.
SC’s registered business scope includes manufacturing and
selling cotton and hemp canvas, canvas board and painted over the background of
the painting of rolls painting materials products and craft products (with
permit if needed).
SC is
mainly engaged in manufacturing and selling frame, canvas volumes and drawing
board.
Mr. Yan Guoliang is legal
representative and chairman of SC at present.
SC is known to have approx. 200 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 Jinhua. Our checks reveal that SC owns the total premise
about 6,000 square meters.
SC is not known to host website of its own at present.
E-mail: bruceguo@canvasjv.com.cn
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Colart Fine
Art & Graphics Limited (U.K.) 60
Ningbo Kangda Investment Co., Ltd.
20
Zhejiang Pan'an County Lvhai Arts &
Crafts Factory
20
Colart Fine
Art & Graphics Limited
==========================
Goldthom Road,
Kidderminster, Worcestershire Dy11 7jn
Tel: +44 1562 744522
Fax: +44 1562 823181
Zhejiang Pan'an County Lvhai Arts &
Crafts Factory
======================================
Incorporation date: June 19,
1998
Registration no.:
330727000024039
Registered capital: CNY
11,280,000
Principal: Jin Guoqing
Legal form: Sole Proprietorship
enterprise
Tel: 86-579-84665688
Add: No. 44, Huancheng
North Road, Anwen Town, Pan’an
County, Jinhua, Zhejiang
Province
l
Legal representative and Chairman:
Mr. Yan Guoliang
is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative and chairman.
l
Vice Chairman:
Mr. Jin Guoqing is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as vice chairman.
Also working in Zhejiang
Pan'an County Lvhai Arts
& Crafts Factory as principal.
l
General Manager:
Mr. Guo Xiaoming
is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager.
l
Directors:
Xu Guanliang
Doug Johnston
Zhang Hongmei
SC is
mainly engaged in manufacturing and selling frame, canvas volumes and drawing
board.
SC’s products mainly include:
frame, canvas volumes and drawing board.
SC sources its materials 70%
from domestic market, and 30% from overseas market. SC sells 100% of its
products 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, L/C, and Credit of 30-60
days.
Note: SC’s management declined to release its main clients
and suppliers.
According to the website: http://www.colart.com
Colart Tianjin Art Materials Co., Ltd.
80 Xian Yang Road, Nankai
District, Tianjin 300113
Tel: +86 22 2736 7907
Fax: +86 22 2736 2015
Colart
International SA
5, Rue René Panhard, Zi Nord, 72021 Le Mans Cedex 2
Tel: +33 2 43 83 83 00
Fax: +33 2 43 83 83 09
Colart Deutschland GmbH
Gutenbergstraße 4, 63477 Maintal
Tel: +49 6109 76 46 60
Fax: +49 6109 76 46 89
Colart Italiana Spa
Centro Diresionale, Milanofiori, Strada 4 Palazzo Q7,
20089 Rozzano, Mi
Tel: +39 02 98 28 17 35
Fax: +39 02 98 28 15 10
Bonny Colart Co Ltd
Tel: +81 3 3877 5113
Fax: +81 3 3877 512
Colart Benelux B.V.
Driemanssteeweg 250, 3084cb
Rotterdam
Tel: +31 10 458 03 11
Fax: +31 10 458 06 10
Colart
Americas Inc.
11 Constitution Avenue, Piscataway
New Jersey 08855-1396
Tel: +1 732 562 0770
Fax: +1 732 562 0941
Colart Iberica SA
Poligono Centrovia, Calle Bogota, 16, 50196
Tel: +34 976 144422
Fax: +34 976 149652
Colart Sweden AB
Tuna Industriväg 35, Box 53, 15321
Järna
Tel: +46 8 709 34 20
Fax: +46 8 19 55 58
Crown Artist Brush Ltd
Crown Street West, Lowestoft,
Suffolk Nr32 1sg
Tel: +44 1502 573142
Fax: +44 1502 562272
Mirum
Products Ltd
Station Road, Ardleigh,
Colchester, Essex Co7 7rt
Tel: +44 1206 230230
Fax: +44 1206 231764
Snazaroo
Holdings Ltd
Unit 1d Brunel Way, Mart Road, Minehead, Somerset Ta24 5bj
Tel: +44 1643 707659
Fax: +44 1643 706492
Colart
International Holdings Ltd
The Studio Building, 21 Evesham
Street, London W11 4aj
Tel: 0208 424 3200
Fax: 0208 424 3201
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.
At local AIC, the bank information of SC is not available.
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 medium-sized in its line with a development
history of 9 years. Due to lack of financial status, we are unable to recommend
accurate credit limit for SC.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.98 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.