MIRA
INFORM REPORT
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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
QINGDAO TEXTILES HOLDING GROUP CO., LTD |
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Registered Office : |
No. 3, |
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Country : |
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Date of Incorporation : |
15.11.2002 |
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Com. Reg. No.: |
370200018085709 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
international trade, investment and management for
its subsidiaries. |
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No. of Employees : |
10,000 (Including
Subsidiaries) |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
QINGDAO TEXTILES HOLDING GROUP CO., LTD.
No. 3, guantao
road, shibei district,
qingdao, shandong
PROVINCE, 266011 PR CHINA
TEL: 86 (0)
532-82827786/82823132 FAX: 86 (0)
532-82823158
EXECUTIVE SUMMARY
INCORPORATION DATE : nov. 15, 2002
REGISTRATION NO. : 370200018085709
REGISTERED
LEGAL FORM : SHARES LIMITED COMPANY
STAFF
STRENGTH : 10,000
(INCLUDING SUBSIDIARIES)
REGISTERED
CAPITAL : CNY 32,040,000
BUSINESS
LINE : tradE, investment
& management
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE : CNY 6.30 = 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 shares limited Company at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Nov. 15, 2002.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of the
shares limited co. are as follows: The
establishment of the co. requires at least two promoters and no more than
200, half of whom shall be domiciled in The
minimum registered capital of a co. is CNY The
board of directors must consist of five to nineteen directors. If the co. raises capital by public
offer, the promoters must not subscribe less than 35% of the total shares.
the promoters’ shares are restricted to transfer- within one year of the
offer. A
state-owned enterprise that is restructured into a shares limited co. must
comply with the conditions & requirements specified under the law &
administrative rule.
SC’s registered business
scope includes investment management of its own funds; import and export
business; wholesaling and retailing garments, shoes, caps, general merchandise,
textile machinery parts, packing materials, hardware, chemicals (excluding the
hazard products), steel materials, lumber, ginned cotton, viscose rayon, dacron
and knitting textiles; manufacturing knitting textiles; textile new products
development and technology transfer; enterprise management and consultation
services and plan; leasing its houses.
SC is mainly
engaged in international trade, investment and management for its subsidiaries.
Mr.
Yan Yong is legal representative, chairman and general manager of SC at
present.
SC is
known to have approx. 10,000 employees at present, including the ones in its subsidiaries.
SC
is currently operating at the above stated address,
and this address houses its operating office in the commercial zone of Qingdao.
The detailed information of the premise is unspecified.
http://www.textile-cn.com The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: office@textile-cn.com
SC was formerly named Qingdao New Textile Group Co., Ltd. and
later was changed to the present name.
SC’s quality system meets the international standards of ISO 9001.
Honors:
l
National Textile Advanced Unit in Harmony
Construction in 2008
l
Excellent China Textile Enterprise
l
National Multi-component and differentiated Yarns
and Fabrics Development Base
MAIN SHAREHOLDERS:
Name %
of Shareholding
State-owned Assets Supervision and
Administration Commission of People’s
Government of Qingdao Municipality 36.83
Shanghai Donglun Industrial Development Co.,
Ltd. 20.85
Qingdao Textile Corporation 3.43
Qingdao Xingfang Investment Development Co.,
Ltd. 38.89
Qingdao Textile Corporation
=====================
Registration no.: 370200018002298
Legal Representative: Yan Yong
Date of incorporation: Apr. 7, 1995
Qingdao Xingfang Investment Development Co.,
Ltd.
=======================================
Registration no.: 370200228078760
Legal representative: Wang Chang’an
Legal
representative, Chairman and General manager:
Mr. Yan Yong is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager;
Also working in
Qingdao Textile Corporation as legal representative
Directors:
Lin Dezhi
Zhao Xiaoxia
Wang Jianhua
Supervisors:
Wang Donghai
Zhong Yan
Gong Runfeng
SC is mainly
engaged in international trade, investment and management for its subsidiaries.
SC’s products
mainly include: raw materials, yarns, grey fabrics, fabric materials and home
textiles, etc.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 70% of its
products in domestic market, and 30% to overseas market, mainly Japan, Korea
and U.S.A.
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 customer and supplier
details.
SC
is said to have subsidiaries, but the detail is unspecified.
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 the local Administration for
Industry and Commerce.
SC’s management declined to release any financial information.
SC
is considered large-sized in its line with a development history of 10 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.93 |
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UK Pound |
1 |
Rs.85.85 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.