MIRA INFORM REPORT

 

 

Report Date :

31.03.2012

 

IDENTIFICATION DETAILS

 

Name :

QUNFENG INTELLIGENT MACHINERY CO., LTD.

 

 

Registered Office :

No. 11 Zhitai Road, Qingmeng Tech Industrial Zone Quanzhou, Fujian Province 362005 Pr

 

 

Country :

China

 

 

Date of Incorporation :

22.08.1995

 

 

Com. Reg. No.:

350506100001809

 

 

Legal Form :

Shares Limited Company

 

 

Line of Business :

Manufacturing and selling construction machinery

 

 

No. of Employees :

200

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

QUNFENG INTELLIGENT MACHINERY CO., LTD.

NO. 11 ZHITAI ROAD, QINGMENG TECH INDUSTRIAL ZONE

QUANZHOU, FUJIAN PROVINCE 362005 PR CHINA

TEL: 86 (0) 595-22356777/22356776/22356789

FAX: 86 (0) 595-22356788

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : august 22, 1995

REGISTRATION NO.                  : 350506100001809

LEGAL FORM                           : Shares limited company

CHIEF EXECUTIVE                     : xu jinshan (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL : cny 70,000,000

staff                                      : 200

BUSINESS CATEGORY : manufacturing

Revenue                                : n/a

EQUITIES                                 : n/a

WEBSITE                                 : www.qunfeng.com

E-MAIL                                     : sale@qunfeng-machine.com

PAYMENT                                : AVERAGE

Recommended Credit Limit: moderate amount

MARKET CONDITION                : average

FINANCIAL CONDITION             : n/a

OPERATIONAL TREND  : fairly STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.31 = 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 on August 22, 1995. However, SC changed to present legal form, and was registered as shares limited company of PRC with State Administration of Industry & Commerce (SAIC) under registration No.: 350506100001809 in 2010.

 

SC’s registered capital: cny 70,000,000

SC’s paid-in capital: cny 70,000,000

 

Registration Change Record:

Date

Change of Contents

Before the change

After the change

2010

Legal Form

Limited Liabilities Company

Shares Limited Company

Company Name

Quanzhou Qunfeng Machinery Manufacturing Co., Ltd.

Qunfeng Intelligent Machinery Co., Ltd.

 

 

Current Co search indicates SC’s shareholders & chief executives are as follows:-

Name of Shareholder (s)

% of Shareholding

Xu Jinshan

69.69

Xu Qinghui

10.00

Zhan Hongzhe

10.00

Jiang Hong

3.00

Huang Qiuling

3.00

Other 39 individuals

4.31

 

SC’s Chief Executives:-

Position

Name

Legal Representative, Chairman, and General Manager

Xu Jinshan

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                               % of Shareholding

 

Xu Jinshan                                                                     69.69

 

Xu Qinghui                                                                     10.00

 

Zhan Hongzhe                                                               10.00

 

Jiang Hong                                                                    3.00

 

Huang Qiuling                                                                3.00

 

Other 39 individuals                                                        4.31

 

 

MANAGEMENT

 

 Xu Jinshan , Legal Representative and Chairman

-----------------------------------------------------------------------

Ψ         Gender: M

Ψ         Age: 40’s

Ψ         Qualification: University

Ψ         Working experience (s):

 

At present, working in SC as legal representative, chairman and general manager

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes manufacturing and selling intelligent concrete block molding machine, color cement tile molding machine, hydraulic machine, concrete mixing equipment, testing machine and other building materials and environmental protection of complete sets of machinery; operating and acting as an agent of importing and exporting various kinds of commodities and technology, excluding the goods forbidden by the government.

 

SC is mainly engaged in manufacturing and selling construction machinery.

Brand: Qunfeng

 

SC’s products mainly include:

Block Machine

Fully Automatic Block Making Production Line

Fully Automatic Block Production line with Curing Rack

Simple Block Making Production Line

Basic Production Line with Curing Room

Concrete Block Splitter

Etc.

   

SC sources its materials 100% from domestic market, mainly Fujian. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly Southeast Asian market.

 

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. 200 staff at present.

 

SC owns an area as its operating office & factory of approx. 35,000 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

 

Basic Bank:

 

Industrial and Commercial Bank of China Qingmeng Sub-branch

AC#: 1408010909008010696

 

 

FINANCIALS

 

The financials of SC is not available in local SAIC, and SC also refused to release the details.

 

 

CONCLUSIONS

 

SC is considered medium-sized in its line with a development history of 17 years. Credit up to moderate amount may be considered.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.15

UK Pound

1

Rs.81.80

Euro

1

Rs.68.34

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.