MIRA
INFORM REPORT
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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG
BAIXIANG TECHNOLOGY CO., LTD. |
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Registered Office : |
Yueying Road, Paojiang Development Zone, Shaoxing,
Zhejiang Province 312000 Pr |
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Country : |
China |
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Date of Incorporation : |
05.01.2011 |
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Com. Reg. No.: |
330600000113625 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture Enterprise |
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Line of Business : |
Engaged in manufacturing and
selling knitting machinery & accessories. |
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No. of Employees : |
120 |
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 and address
ZHEJIANG BAIXIANG TECHNOLOGY CO., LTD.
YUEYING ROAD, PAOJIANG DEVELOPMENT
ZONE, SHAOXING,
ZHEJIANG PROVINCE
312000 PR CHINA
TEL: 86 (0) 575-88222852 FAX:
86 (0) 575-88222860
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 5, 2011
REGISTRATION NO. :
330600000113625
REGISTERED LEGAL FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE
ENTERPRISE
STAFF STRENGTH :
120
REGISTERED CAPITAL :
USD 7,784,597
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
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).
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 researching,
developing, manufacturing and processing knitting machinery & accessories,
hardware products, needles textiles; selling self-made products; wholesaling,
importing and exporting knitting machinery & accessories, hardware
products, needles textiles, electronic products, electrical appliances,
instruments and related accessories, clothing, apparel, home textile products.
SC is mainly engaged in
manufacturing and selling knitting machinery & accessories.
Mr. Chen Baixiang is the legal representative, chairman and
general manager of SC at present.
SC is
known to have approx. 120 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the development zone of
Shaoxing. The detailed premise information is unknown.
http://www.zjbxtech.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
Email: glovemc@yahoo.cn
Internet resources indicate that SC’s former legal form was
Limited Liabilities Co. and the former registered capital was CNY 5,000,000.
MAIN SHAREHOLDERS:
Name % of Shareholding
Hong Kong Tianji International
Limited 89.9212
Feng Jianming 1.5118
Yu Yongbao 1.5118
Jin Jianping 1.5118
Chen Baixiang 5.5434
Hong Kong Tianji International
Limited
=============================
Registration No. : 1666398
Legal Form: Private
l
Legal Representative, Chairman and
General Manager:
Mr. Chen Baixiang 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 knitting machinery & accessories.
SC’s products mainly include: glove knitting
machine, assistant equipment, etc.
SC
sources its materials 60% from domestic market and 40% 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 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 any 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 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.
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 medium-sized in its line with a short
history. 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.55.70 |
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1 |
Rs.87.54 |
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Euro |
1 |
Rs.68.85 |
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.