MIRA INFORM REPORT

Report Date :

04.07.2012

IDENTIFICATION DETAILS

Name :	HONGKONG QINGYANG INTERNATIONAL INDUSTRIAL LTD.

Registered Office :	c/o Lianbang Int’l Business (HK) Ltd., Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon

Country :	Hong Kong

Date of Incorporation :	17.04.2012

Com. Reg. No.:	59657464

Legal Form :	Private Limited Company

Line of Business :	Importer, Exporter and Wholesaler of Chemicals, especially potassium sulphate, & potassium oxide, etc.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company

Payment Behaviour :	Unknown

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

HONGKONG QINGYANG INTERNATIONAL INDUSTRIAL LTD.

Company ADDRESS

c/o Lianbang Int’l Business (HK) Ltd.

Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.

PHONE: 2793 5511

FAX: 3590 2333

MANAGEMENT

Managing Director: Mr. Du Qing Tao

SUMMARY

Incorporated on: 17th April, 2012.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

c/o Lianbang Int’l Business (HK) Ltd.

Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.

Associated Company:-

Yantai Qingyang Industrial Co. Ltd., China.

BUSINESS REGISTRATION NUMBER

59657464

COMPANY FILE NUMBER

1730235

MANAGEMENT

Managing Director: Mr. Du Qing Tao

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 17-04-2012)

Name		No. of shares
DU Qing Tao		10,000 =====

Name

No. of shares

DU Qing Tao

10,000

=====

DIRECTOR

(As per registry dated 17-04-2012)

Name (Nationality)	Address
DU Qing Tao	Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.

Name

(Nationality)

Address

DU Qing Tao

Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 17-04-2012)

Name	Address	Co. No.
Lianbang Int’l Business (HK) Ltd.	Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong.	1247280

HISTORY

The subject was incorporated on 17th April, 2012 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Chemicals, especially potassium sulphate, & potassium oxide, etc.

Employees: Nil.

Commodities Imported: Asian countries, etc.

Markets: China, other Asian countries, Europe, etc.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Too early to comment.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Hongkong Qingyang International Industrial Ltd. is wholly owned by Mr. Du Qing Tao who is a China merchant. He is a China ID card holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 704, 7/F., Bright Way Tower, 33 Mong Kok Road, Kowloon, Hong Kong known as Lianbang Int’l Business (HK) Ltd. which is handling its correspondences and documents. This firm is also the corporate secretary of the subject.

The subject has no employees in Hong Kong.

The subject has had an associated company in Laizhou City, Shandong Province, China known as Yantai Qingyang Industrial Co. Ltd. [YQICL]. The legal representative of YQICL is also Du Qing Tao. This firm is trading in the following chemicals:

· Potassium sulphate; &

· Potassium oxide.

The main chemical carried by YQICL is potassium sulphate which is packed in a 50kg per bag. According to YQICL, it has had an affiliated plant in foreign country which is able to supply it with 500 to 1,000 tonnes of potassium sulphate. Potassium sulphate is the chief chemical for most fertilizers.

With a registered capital of RMB5 million Yuan, YQICL has had about 40 employees and its annual sales turnover ranges from RMB5 to 10 million Yuan. It is likely that the subject is trading in the same product as YQICL.

The subject’s business in Hong Kong is not active. History is just over two months.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.81
UK Pound	1	Rs.86.04
Euro	1	Rs.69.62

INFORMATION DETAILS

Report Prepared by :

MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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%)

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