MIRA
INFORM REPORT
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Report Date : |
20.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENZHEN BOEE JEWELRY CO., LTD. |
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Registered Office : |
1-3/F, Bldg. 5, Shuiku Xincun Industrial Zone, No. 129 Taining Road, Luohu District, Shenzhen, Guangdong Province, 518020 Pr |
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Country : |
China |
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Date of Incorporation : |
10.10.2001 |
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Com. Reg. No.: |
440301104698539 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing, processing and selling jewelry |
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No. of Employees : |
760 |
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) |
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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
SHENZHEN BOEE JEWELRY CO., LTD.
1-3/f, Bldg. 5,
shuiku Xincun Industrial Zone, No. 129 Taining Road, Luohu district, Shenzhen,
guangdong PROVINCE, 518020 PR CHINA
TEL: 86 (0) 755-25619999/25624388 FAX: 86 (0) 755-25506197/25506201
EXECUTIVE SUMMARY
INCORPORATION DATE : oct. 10, 2001
REGISTRATION NO. : 440301104698539
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
760
REGISTERED CAPITAL : CNY 11,000,000
BUSINESS LINE :
Manufacturing, PROCESSING & SELLING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.36 = 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’s complete English name should be the heading one.
SC was registered as a Limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Oct. 10, 2001.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered
business scope includes manufacturing, processing and selling of gold, platinum,
K gold products and jewelry inlaid jewelry, jewelry, handicraft and other
domestic commerce, materials supply and marketing industry (excluding the
franchise, and has exclusive control and monopoly of goods); import and export
of goods and technology (excepting national prohibited and special permission);
industrial projects (specific projects to be declared separately)..
SC is mainly
engaged in manufacturing, processing and selling jewelry.
Li Xiaohong has been the legal representative, chairman and
general manager of SC since 2003.
SC is known
to have approx. 760 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 Shenzhen. Detailed information
of the premise is unspecified.
www.boee.com
The design is professional and the content is well organized. At present it is
in Chinese version.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Company Name |
Shenzhen Runbaoyi Jewelry Co., Ltd. (literal
translation) |
Present one |
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Legal Representative |
Zhou Kunhai |
Present one |
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Registered Capital |
CNy 1,000,000 |
Present amount |
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Registration No. |
4403012075257 |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhou Kunhai 20
Li Xiaohong 80
l
Legal Representative, Chairman and General Manager:
Li Xiaohong
is currently responsible for the overall and daily management of SC.
Working Experience(s):
From
2003 to present Working in SC as legal
representative, chairman and general manager.
l
Supervisor:
Zhou Kunhai
SC is mainly
engaged in manufacturing, processing and selling jewelry.
SC’s products mainly include: various kinds of jewelry, etc.
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 100% of its products in domestic
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 and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
According to SC’s website:
Shanghai
Office
Tel.: 021-64848838
Fax:
021-64707398
Nanjing Office
Tel.:
025-84405888
Fax:
025-84515226
Wuxi Office
Tel.: 0510-2720666
Fax:
0510-2727258
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 records 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.
No bank
information was found during our checks with the local Administration for
Industry and Commerce. And SC declined to release its banking details.
Investigations were made with the local AIC, but the financial records
were not available.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 11 years operation
history.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery
industry in India today may be more than Rs 60000 mil
and is rated amongst the fastest growing in the world. Indi ranks third in the world in domestic diamond
consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent
to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many diamantaires borrowed money during the economic downturn
two years ago and diverted funds to businesses like real estate and capital
markets. Many of themselves made money from these businesses but their diamond
companies have gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
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
|
Report
Prepared by : |
PRL |
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.