MIRA INFORM REPORT
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Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
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Name : |
LIAOCHENG YOUJIA TEXTILE MACHINERY CO., LTD. |
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Registered Office : |
No. 291, Liaohe Road, Development Zone, Liaocheng, Shandong
Province, 252000 Pr |
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Country : |
China |
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Date of Incorporation : |
14.05.2002 |
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Com. Reg. No.: |
371527228000116 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling
textile machinery and parts |
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No. of Employees
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200 |
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 : |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
Liaocheng Youjia Textile Machinery Co., Ltd.
No. 291, liaohe
road, development zone,
liaocheng, shanDONG
PROVINCE, 252000 PR CHINA
TEL: 86 (0)
635-8883786 FAX: 86 (0) 635-8883752
EXECUTIVE SUMMARY
INCORPORATION DATE : may 14, 2002
REGISTRATION NO. : 371527228000116
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 200
REGISTERED CAPITAL :
CNY 10,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : SMALL AMOUNT
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.30 = 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 a Limited Liabilities Company at local Administration for industry & commerce (AIC - the official body of issuing and renewing business license) on May 14, 2002.
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 and selling textile machinery and part,
glass processing equipment and parts; housing leasehold; import and
export goods and technology.
SC is mainly engaged
in manufacturing and selling textile machinery and parts.
Mr. Wang
Zhijian is legal representative and chairman of SC at present.
SC is known to have approx. 200 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 Liaocheng. The detailed information of the premise is unspecified.
http://www.yjfj.com The design is professional
and the content is well organized. At present it is in both Chinese and English
versions.
Email: yjfj@yjfj.com
No significant events or changes were found during our checks
with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Zhanwang 10
Yu Zhiguo 10
Wang Zhijian 80
l
Legal Representative
and Chairman:
Mr. Wang Zhijian is currently responsible for
the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman.
SC is mainly
engaged in manufacturing and selling textile machinery and parts.
SC's products
mainly include tyre fabric rapier loom, glass fiber rapier loom, woolen fabric
loom, canvas rapier loom, denim rapier loom, towel rapier loom,flexible
rapier loom, wide-size special rapier loom, etc.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 70% of its
products in domestic market, and 30% to overseas market, mainly Europe and
Southeast Asian 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, L/C and Credit of 30-60
days.
Note: SC’s management declined to release its customer and supplier
details.
According to the
above website, SC is known to have the following offices:
·
Zhejiang Office
·
Guangdong Office
·
Jiangsu Office
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 a development history of
10 years. 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.49.15 |
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UK Pound |
1 |
Rs.78.25 |
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Euro |
1 |
Rs.65.57 |
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.