MIRA INFORM REPORT
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Report Date : |
13.03.2012 |
IDENTIFICATION DETAILS
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Name : |
XUCHANG XINDI HAIR PRODUCTS CO., LTD. |
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Registered Office : |
The East Of Chuhe Toll-Station, Xuyu Road, Chuhe Town,
Yuzhou, Xuchang, Henan
Province, 461670 Pr |
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Country : |
China |
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Date of Incorporation : |
21.01.2005 |
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Com. Reg. No.: |
411000400000395 |
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Legal Form : |
Chinese Foreign Equity Joint Venture
Enterprise |
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Line of Business : |
manufacturing and selling hair products |
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No. of Employees
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600 |
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
XUCHANG XINDI HAIR PRODUCTS CO., LTD.
THE EAST OF CHUHE
TOLL-STATION, XUYU ROAD, CHUHE TOWN, YUZHOU,
XUCHANG, henan
PROVINCE, 461670 PR CHINA
TEL: 86 (0)
374-8660888 FAX: 86 (0) 374-8660999
EXECUTIVE SUMMARY
INCORPORATION DATE : JAN. 21, 2005
REGISTRATION NO. : 411000400000395
REGISTERED LEGAL FORM : cHINESE FOREIGN EQUITY
JOINT VENTURE ENTERPRISE
STAFF STRENGTH :
600
REGISTERED CAPITAL : USD 1,000,000
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 6.32 = 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 Chinese foreign equity joint venture enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Jan. 21, 2005.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered
business scope includes human hair and synthetic hair products production and
sales.
SC
is mainly engaged in manufacturing and selling hair products.
Mr. Yang Guanghui
is now acting as chairman of SC.
SC is known to
have approx. 600 employees at present.
SC is
currently operating at the above stated address and this address houses its
operating office and factory in the industrial zone of Yuzhou. Detailed premise
information is not available.
http://www.xindihair.com The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-Mail: xindihair@hotmail.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Long Da 龙大 (Foreign individual, in Chinese
Pinyin) 30
Yuzhou Tianrun Hair Products Co., Ltd. 70
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Registered number: 411081100005727
Legal rep.: Song Shaohui
Incorporated date:
Registered capital: CNY 2,000,000
l
Chairman and
General Manager:
Mr. Yang Guanghui, in his
Working Experience(s):
Now Working in SC as chairman and general
manager.
SC is mainly
engaged in manufacturing and selling hair products.
SC’s main products
include:
Weft
Loop hair
extensions
Pre-bond hair
extensions
U-tip
I-tip
Toupee hair pieces
Training wigs
Clip-in-hair
extensions
Wigs
SC sources its materials 80% from domestic
market and 20% from the overseas market, mainly Southeast Asia. SC sells 50% of
its products in domestic market and 50% to the overseas market, mainly Southeast
and Europe.
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main clients and
suppliers.
SC is
not known to have any subsidiary.
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 local AIC.
SC’s management declined to release its financial reports.
SC is considered medium-sized in its line with 7 years operating history.
A credit line of small amount can be considered for it at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.94 |
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UK Pound |
1 |
Rs.78.25 |
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Euro |
1 |
Rs.65.39 |
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.