MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
WUHAN XINYINGDA CHEMICALS CO., LTD. |
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Registered Office : |
6/F, Unit 3, Jiangnan Garden, No. 43 Fangji Road,
Hongshan District, Wuhan, Hubei Province 430063 Pr |
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Country : |
China |
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Date of Incorporation : |
04.02.2010 |
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Com. Reg. No.: |
420111000119730 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject
is engaged in selling chemical products |
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No. of Employees
: |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
wuhan xinyingda chemicals co., ltd.
6/f, unit 3, jiangnan
garden, no. 43 fangji road
hongshan district,
wuhan, hubei province 430063 PR CHINA
TEL: 86 (0)
27-86617137
FAX: 86 (0)
27-86676453
EXECUTIVE SUMMARY
Date of Registration : february 4, 2010
REGISTRATION NO. : 420111000119730
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 500,000
staff : 5
BUSINESS CATEGORY :
trading
Revenue : n/a
EQUITIES :
n/a
WEBSITE : www.xyd-chem.com
E-MAIL :
xydchem@gmail.com
PAYMENT : Unknown
Recommended Credit Limit: c.o.d.
MARKET CONDITION : average
FINANCIAL CONDITION : n/a
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.33 = 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 limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 420111000119730 on February
4, 2010.
SC’s Organization Code Certificate No.:
69834361-0
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
Registration Change Record:
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xia Shuang |
80 |
|
Shi Yiping |
20 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Xia Shuang |
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Supervisor |
Shi
Yiping |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Xia Shuang 80
Shi Yiping 20
MANAGEMENT
Xia Shuang, Legal Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative,
chairman and general manager
Shi Yiping,
Supervisor
-----------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes
R&D and technical service of chemical products; selling building
decoration materials, plastic products, metal materials, hardware; importing
and exporting goods and technology.
SC is
mainly engaged in selling chemical products
SC’s products mainly include:
Sodium Lignosulphonate
Calcium Lignosulphonate
Sodium Gluconate
Sodium Naphthalene Formaldehyde
Molasses Powder
Bio Fulvic Acid
SC sources its materials 100% from domestic
market, mainly Hubei. SC sells 70% of its products in domestic market, and 30%
to overseas market, mainly Southeast Asia, Mid East, Europe, etc.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 5
staff at present.
SC rents an area
as its operating office of approx. 70 sq. meters at the heading address.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
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
The bank
information of SC is not filed in SAIC.
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered small-sized in its line with a
development history of 2 years. Great caution is required in providing credit
to SC and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
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UK Pound |
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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.