MIRA INFORM REPORT
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Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CHINA NINGBO CIXI IMPORT & EXPORT CORP. |
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Registered Office : |
Foreign Trade Mansion, No. 269 Sishan Road, Hushan Town,
Cixi, Ningbo City, Zhejiang Province 315300 Pr |
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Country : |
China |
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Date of Incorporation : |
09.01.1991 |
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Com. Reg. No.: |
330200000007548 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
International
Trade |
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No. of Employees
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300 |
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 – 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
CHINA NINGBO CIXI IMPORT & EXPORT CORP.
FOREIGN TRADE
MANSION, NO. 269 SISHAN ROAD, HUSHAN TOWN, CIXI,
NINGBO CITY, ZHEJIANG
PROVINCE 315300 PR CHINA
TEL: 86 (0)
574-63886907/63032888
FAX: 86 (0) 574-63886079/63032889
EXECUTIVE SUMMARY
Date of Registration : JANUARY 9, 1991
REGISTRATION NO. : 330200000007548
LEGAL FORM : SHARES
LIMITED COMPANY
REGISTERED CAPITAL :
CNY 135,000,000
staff : 300
BUSINESS CATEGORY :
TRADING
Revenue : N/A
EQUITIES : N/A
WEBSITE : www.cncie.com
E-MAIL :
manager@cncie.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
n/a
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = 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 shares limited company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 330200000007548 on January 9, 1991.
SC’s Organization Code Certificate
No.: 14474059-3
SC’s registered capital: CNY 135,000,000
SC’s paid-in capital: CNY 135,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Registered Capital |
CNY 53,000,000 |
CNY 83,850,000 |
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Registration No. |
3302001002666 |
330200000007548 |
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|
-- |
Registered Capital |
cny 83,850,000 |
CNY 135,000,000 |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Employee Shareholders Association of SC |
39.81 |
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Chai Chensui |
4.41 |
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Lai Huanding |
4.78 |
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Ye Lianghua |
3.95 |
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Fang Minmin |
3.01 |
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Han Xiaofeng |
2.61 |
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Zhang Ningfang |
2.61 |
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Hu Dingyi |
2.41 |
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Wang Lu |
2.22 |
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Qiu Zhihui |
2.22 |
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Other 93 individuals and Ni Xiaohui |
31.97 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative and
Chairman |
Chai Chensui |
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General Manager |
Lai Huanding |
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Director |
Sun Donghua |
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Gong Yi |
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|
Hu Guofu |
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Supervisor |
Xi Zanghui |
|
Lao Songbo |
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|
Ni Xiaohui |
RECENT DEVELOPMENT
SC’s quality system meets the international standards of ISO 9001.
Honors:
²
In 2008, the company ranked 248h among the top 500
enterprises in China in terms of the import and export amount and ranked 140th
among the top 200 export enterprises in China.
²
In 2008, the company ranked 168th among the top 500
service Industry of China
²
In 2008, the company ranked the 60th among the top
100 enterprises of Zhejiang Province.
²
In 2008, the company ranked the 15th among the top
100 enterprises of Ningbo.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Employee Shareholders
Association of SC 39.81
Chai Chensui 4.41
Lai Huanding 4.78
Ye Lianghua 3.95
Fang Minmin 3.01
Han Xiaofeng 2.61
Zhang Ningfang 2.61
Hu Dingyi 2.41
Wang Lu 2.22
Qiu Zhihui 2.22
Other 93 individuals and Ni Xiaohui 31.97
MANAGEMENT
Chai Chensui, Legal Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 55
Ø
ID# 330502195703190437
Ø
Qualification:
University
Ø
Working
experience (s):
From 1975 to 1991, worked in Huzhou Vehicle Parts Factory
From 1991 to 1996, worked in Cixi M. & C. Foreign Trade Corporation
From 1996 to 1997, worked in Cixi Metal Trade Co., Ltd.
At present, working in SC as chairman
Lai Huanding, General Manager
-------------------------------------------------------
Ø
Gender: M
Ø
Age: 44
Ø
ID# 44010519680930003X
Ø
Qualification:
University
Ø
Working
experience (s):
From Aug. 1991 to 1992, working in Zhedong Chemical Fiber Plant
From 1992 to present, working in SC as general manager
Director
========
Sun Donghua ID# 330222196002190016
Gong Yi龚益 ID# 330222195908080038
Hu Guofu ID# 33022219660404047X
Supervisor
=========
Xi Zanghui ID#
330205196803230915
Lao Songbo ID#
33022219711101805X
Ni Xiaohui ID#
330222196205220019
BUSINESS OPERATION
SC’s registered
business scope includes import and export of various goods and technologies,
excluding the good prohibited or limited by the country; wholesaling and
retailing of arts & crafts, knitting and textiles, garments, hardware,
chemical products, native and animal products, electronic products, toys,
cotton yarn; storage services; manufacturing of hardware, axletree, garments,
shoes and mini household appliances; house leasing; dispatching labor staff to foreign
county in accordance with license (excluding sailor); wholesale and retail of
pre-packaged food.
SC is mainly
engaged in international trade.
SC’s products mainly include: auto parts, bearing, bicycle, electrical
& electronics, hardware, home appliances, lamps & lanterns, seals,
apparel & accessories, arts & crafts, bath accessories, footwear,
luggage & bags, etc.
SC sources its materials 80% from domestic market,
and 20% from overseas market, mainly Southeast Asia. SC sells 50% of its
products in domestic market, and 50% to overseas market, mainly Southeast Asia
and Europe.
The buying terms of SC include Check, L/C, T/T and Credit of
30-60 days. The payment terms of SC include Check, L/C, T/T, and Credit of
30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 300
staff at present.
SC owns an area as
its operating office of approx. 2,000 sq. meters at the heading address.
RELATED COMPANY
SC is
known to have 39 subsidiaries at present, and the following are the major ones.
n
Cixi
Beilin Trade Co., Ltd.
n
Cixi
Maite Trade Co., Ltd.
n
Cixi
Zhonghuan Electronic Co., Ltd.
n
Cixi
Shenwei Trade Co., Ltd.
n
Cixi
Xiangsheng Garment Co., Ltd.
n
Cixi
Dayang Trade Co., Ltd.
n
Ningbo
Hemei Arts and Crafts Co., Ltd.
n
Cixi
Jiari Travel Goods Co., Ltd.
n
Cixi
Jiadun Trade Co., Ltd.
n
Cixi
Laixing Trade Co., Ltd.
Etc.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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
Basic Bank:
China
Construction Bank Cixi Sub-branch
AC#: 33101995136050191885
Industrial & Commercial Bank of China Cixi Sub-branch
AC#3901300009000068178
Bank of China Cixi Sub-branch
AC#817060979908091001
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered large-sized in its line with a
development history of 21 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.35 |
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UK Pound |
1 |
Rs.78.68 |
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Euro |
1 |
Rs.65.63 |
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.