MIRA
INFORM REPORT
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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
FUJIAN MINHUA POWER SOURCE CO., LTD. |
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Formerly Known As : |
Anxi Minhua Battery Co., Ltd. |
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Registered Office : |
Longqiao Industry
Zone, Anxi Economic Development Zone, |
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Country : |
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Date of Incorporation : |
09.11.1998 |
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Com. Reg. No.: |
330100400033180 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
manufacturing and selling
high-capacity sealed maintenance-free cadmium-free lead-acid batteries and
lead-acid battery plates |
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No. of Employees : |
1,500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 & address
FUJIAN MINHUA POWER SOURCE CO., LTD.
LONGQIAO
INDUSTRY ZONE, ANXI ECONOMIC DEVELOPMENT ZONE
QUANZHOU,
FUJIAN PROVINCE 362442 PR CHINA
TEL: 86 (0)
595-23235550/23012903
FAX: 86 (0)
595-23012905
EXECUTIVE SUMMARY
Date of Registration : NOVEMBER 9, 1998
REGISTRATION NO. : 330100400033180
LEGAL FORM : Shares limited company
REGISTERED CAPITAL :
cny 132,000,000
staff : 1,500
BUSINESS CATEGORY :
manufacturing
Revenue : N/A (as of DEC. 31, 2011)
EQUITIES : N/A (as of DEC.
31, 2011)
WEBSITE : www.mhb-battery.com
E-MAIL :
mhsecurities@yahoo.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.37 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL
STATUS & HISTORY
SC was
established as a limited liabilities company of PRC on November 9, 1998.
However, SC changed to present legal form, and was registered as a shares
limited company of PRC with State Administration for Industry & Commerce
(SAIC) under registration No.: 330100400033180.
SC’s Organization Code Certificate No.:
61158356-7
SC’s registered capital: CNY 132,000,000
SC’s paid-in capital: CNY 132,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
-- |
Company Name |
Anxi Minhua Battery Co., Ltd. Fujian |
Fujian
Minhua Power Source Co., Ltd. |
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Legal Form |
Limited liabilities company |
Shares limited company |
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Kaixin Gangxin (Fujian)
Venture Capital Co., Ltd. |
10.77 |
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Quanzhou Minhua Electric Co.,
Ltd. |
86.20 |
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Other individuals |
3.03 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and
Chairman |
Xie
Wenjian |
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General Manager |
Huang
Jianguo |
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Supervisor |
Wang Shengjie |
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Zeng Huantuan |
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|
Chen Kaiwen |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name % of Shareholding
Kaixin Gangxin (
Quanzhou Minhua Electric Co., Ltd. 86.20
Other individuals 3.03
MANAGEMENT
Xie
Wenjian, Legal Representative and
Chairman
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, worked in SC as legal
representative and chairman
Huang
Jianguo, General Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, worked in SC as general manager
Supervisor
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Wang Shengjie
Zeng Huantuan
Chen Kaiwen
bUSINESS OPERATION
SC’s registered business scope includes the production of battery plates and
battery products (excluding national restrictions, prohibited species quota
license management); import & export, and acting as an agent of all kinds
of goods and technology, but excluding the state to limit or prohibit. (with
permit if needed).
SC is mainly
engaged in manufacturing and selling high-capacity sealed maintenance-free
cadmium-free lead-acid batteries and lead-acid battery plates.
SC’s products mainly include: battery series and battery plates series, etc.
SC sources its materials 100% from domestic
market. SC sells 10% of its products in domestic market, and 90% to overseas
market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Staff & Office:
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SC is
known to have approx. 1,500 staff
at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
Xiamen office
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Add.: Beside of Wuyuanwan Sports Hall, Xiamen
Tel.: 86 (0) 592-3300591
Fax: 86 (0) 592-3300573
E-mail: Cameron@mhb-battery.com
PAYMENT
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.
BANKING
The bank
information of SC is not filed in local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 14
years operation history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
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UK Pound |
1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
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.