MIRA
INFORM REPORT
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Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU JAMES TEXTILE CO., LTD. |
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Registered Office : |
No. 88, Henglian Road, Chengdong Town, Haian County, Nantong, Jiangsu Province, 226600 Pr |
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Country : |
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Date of Incorporation : |
29.12.2008 |
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Com. Reg. No.: |
320621000171962 |
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Legal Form : |
One-Person Limited
Liability Company |
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Line of Business : |
Engaged in selling garments and textiles |
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No. of Employees : |
100 |
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
JIANGSU
JAMES TEXTILE CO., LTD.
NO. 88, HENGLIAN ROAD, CHENGDONG TOWN, HAIAN
COUNTY, NANTONG, JIANGSU PROVINCE, 226600 PR CHINA
TEL: 86 (0) 513-88905144/88869075 FAX: 86 (0) 513-88859169
EXECUTIVE SUMMARY
INCORPORATION DATE :
DEC. 29, 2008
REGISTRATION NO. :
320621000171962
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. YU YONGJUN (CHAIRMAN)
STAFF STRENGTH :
100
REGISTERED CAPITA L : CNY 110,600,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3735 = 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
SC was registered as one-person limited liability company at local
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on Dec. 29, 2008.
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes selling garments, ornaments, leather goods and textiles;
importing & exporting commodities and technology.
SC is mainly
engaged in selling garments and textiles.
Mr. Yu
Yongjun is legal representative and
chairman of SC at present.
SC is known to have approx. 100 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Haian County. Our checks reveal that SC owns the total
premise, but SC’s accountant refused to release the gross area.
http://www.jamesfabric.com/ The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: fabric@jamestextile.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jiangsu Lianfa Textile Co., Ltd. 100
Jiangsu Lianfa Textile Co., Ltd. listed in Shenzhen Stock Exchange
Market with the stock code 002394.
Jiangsu Lianfa Textile Co., Ltd. is a
large-scaled textile group which joint of yarn spinning, dyeing, weaving,
finishing, printing, dyeing and garment.
Registration no.: 320600400006064
Legal representative: Xue Qinglong
Add: No. 88, Henglian Road, Chengdong Town,
Haian County, Nantong, Jiangsu Province, 226600 PR China Tel: 0513-88869069
/88905193
Fax: 0513-88869069/88905190
l
Legal representative and chairman:
Mr. Yu Yongjun , senior economist, born in 1968 with MBA degree. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
Also working in Nantong James Garments Co.,
Ltd., Shanghai Haoen Garments Co., Ltd., Shenzhen James Garments Co., Ltd.,
etc. as legal representative, and in Jiangsu Lianfa Textile Co., Ltd. as
director.
l
Directors:
Xue Qinglong
Huang Changgen
l
Supervisor:
Fu Qing
SC is mainly
engaged in selling garments and textiles.
SC’s products mainly include: fabric, garment, yarn, etc.
SC sources its materials 100% from domestic market. SC sells 30% of its
products in domestic market, and 70% 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.
Note: SC’s management refused to release its supplier and client
details.
Agents: (according to SC’s website)
=============================
Jiangyin Fengheng Textiles Co., Ltd. (in Chinese pinyin)
Shanghai Chencai Textiles Co., Ltd. (in Chinese pinyin)
HongKong office:
Tel: +852 6596 1631/2273 2069
Add: Suite 2504-06, #838 Lai Chi Kok Rd, Lai Chi Kok, Kowloon, HK
E-mail: jason@jamestextile.com
Contact person: Jason Zhang
Italy Agency:
LIANFA TEXTILE EUROPE S.R.L.
Tel: +393338108325
Add: Via A. Canova, 1,36022 Cassola - VI - ITALY
E-mail: ivan.gizzi@lianfa.eu
Contact person: Ivan Gizzi
Etc.
Nantong James Garments Co., Ltd.
Shanghai Haoen Garments Co., Ltd.
Shenzhen James Garments Co., Ltd.
Nantong Lianfa Printing & Dyeing Co., Ltd.
Hai'an Lianfa Cotton Spinning Co., Ltd.
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 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.
SC’s management declined
to release its bank details.
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 4 years operation
history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
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1 |
Rs.86.55 |
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Euro |
1 |
Rs.67.95 |
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.