MIRA INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI JIN RUIXIANG HAIR PRODUCTS CO., LTD. |
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Registered Office : |
No. 10 Weier Road, Chengguan Town Industrial Park, Taihe County,
Fuyang City, Anhui Province, 236600 Pr |
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Country : |
China |
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Date of Incorporation : |
22.08.2005 |
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Com. Reg. No.: |
341222000011211 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject
is engaged in purchasing, processing and selling hair products |
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No. of Employees
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500 |
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
|
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
ANHUI JIN RUIXIANG HAIR PRODUCTS CO., LTD.
NO. 10 WEIER ROAD,
CHENGGUAN TOWN INDUSTRIAL PARK, TAIHE COUNTY, FUYANG CITY, ANHUI province,
236600 PR CHINA
TEL: 86 (0)
558-8665899/8667299 FAX: 86 (0)
558-8669799
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 22, 2005
REGISTRATION NO. : 341222000011211
REGISTERED LEGAL FORM : LIMITED LIABILITIES
COMPANY
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 26,900,000
BUSINESS LINE :
PROCESSING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE amount
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.33= 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 co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Aug. 22, 2005.
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 purchasing, processing and selling hair products; import
and export of various goods and technology (excluding the goods and technology
prohibited or limited by the country).
SC is
mainly engaged in purchasing, processing and selling hair products.
Mr. Fu Ruling is
the legal representative and chairman of SC at present.
SC is known
to have approx. 500 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 Taihe County. Our checks
reveal that SC covers an area of 58,600 square meters.
http://www.ahjrx.cn/default.asp
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: ahjrxf@163.com Jinruixiang@126.com
Honors:
………..
No significant events or changes were found during our checks with local
AIC.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Fu Jinghui 40
Fu Jinglun 20
Fu Ruling 40
Legal
representative and Chairman:
Mr. Fu Ruling, born in 1965, he is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative and chairman;
Also working in Ruitai Jifa Anhui Garments Co., Ltd. as chairman
SC is
mainly engaged in purchasing, processing and selling hair products.
SC’s products
mainly include: double drawn, hair weaving, hair bulk, hair extension, wig and
color ring series hair products.
SC sources its
materials 95% from domestic market and 5% from overseas market. SC sells 80% of
its products to the overseas market, mainly Southeast Asia, and 20% in domestic
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 major clients and suppliers.
Ruitai Jifa Anhui Garments Co., Ltd.
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 banking information.
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 7 years operation
history. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.85 |
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UK Pound |
1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.62 |
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.