MIRA
INFORM REPORT
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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Name : |
LONCIN MOTOR CO., LTD |
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Registered Office : |
No.99, |
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Country : |
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Date of Incorporation : |
08.06.2007 |
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Com. Reg. No.: |
500107000008267 |
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Legal Form : |
Shares limited company (unlisted) |
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Line of Business : |
Manufacture and sales of
general motors |
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No. of Employees : |
900 |
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 : |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
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LONCIN MOTOR CO.,
LTD |
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No.99, Hulong Rd, Jiulong Industrial Park, Jiulongpo Dist, Chongqing |
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400052 |
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Tel : |
86 23 89805681 |
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Fax: |
86 23 89067533 |
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E-mail: |
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Website: |
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Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.32 Chinese Yuan
"--"in this report indicates "unavailable" due to insufficient information or "no comments"
EXECUTIVE
SUMMARY
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DATE OF establishment |
Jun.8th, 2007 |
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Aic Registration No. |
500107000008267 |
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REGISTERED LEGAL FORM |
Shares limited company (unlisted) |
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REGISTERED CAPITAL |
720,000,000.00 |
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main BUSINESS |
manufacture and sales of general motors |
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SIC Code (China) |
3544 manufacture of hydraulic and barometric power machineries and
related parts |
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employees |
900 |
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import and export permits |
yes |
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business scale |
Medium |
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operation trend |
Average |
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EXCHANGE RATE |
1 Usd=6.32CNY (MAY 16th, 2012) |
REGISTRATION
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Name |
LONCIN MOTOR CO., LTD |
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AIC Registration Number |
500107000008267 |
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Registered address |
No.99, Hulong Rd, Jiulong Industrial Park, Jiulongpo Dist, Chongqing |
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Operation address |
No.99, Hulong Rd, Jiulong Industrial Park, Jiulongpo Dist, Chongqing |
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Date of Establishment |
Jun.8th, 2007 |
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Registry |
Administration Bureau for Industry and Commerce –Jiulongpo Dist,
Chongqing |
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Legal Representative |
Gao Yong (高勇) |
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Registered Legal Form |
Shares limited company (unlisted) |
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Registered Capital |
720,000,000.00 |
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Business Scope |
Development and sales of motorcycle and spare parts, automobile parts
etc. Development, manufacture and sales of combustion engine; agricultural
machinery, forestry machinery, ordinary machinery and electric machineries; Wholesale and retail of metal materials, rubber products; Import and export of commodities and technologies |
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 characteristics of the shares
limited co. are as follows:
The establishment of the co. requires at least five promoters and at
least three of them must be PR- China controlled legal persons. Natural person
can not be allowed to serve as promoters.
The minimum registered capital of a co. is RMB
The board of directors must consist of an odd number 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 three years of the offer. Directors can not
transfer the shares they hold in the co. during their terms of office.
A state-owned enterprise that is restructured into a shares limited co.
must comply with the conditions & requirements specified under the law
& administrative rule.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS:
AVAILABLE
SHAREHOLDERS
AND SHARES
N/A
AFFILIATE(S)
No affiliate of subject is found after checking.
MANAGEMENT
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Name |
Gao Yong (高勇) |
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Title |
Legal Representative |
BANKERS INFORMATION
SC’s
bank information can’t be obtained after searching through all available
channels.
OFFICE FACILITIES
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Geographic Location |
No.99, Hulong Rd, Jiulong Industrial Park, Jiulongpo Dist, Chongqing |
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Area |
200,000 square meters |
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Environment and traffic |
Acceptable |
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Property Ownership |
Self-owned |
TRADEMARKS
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Total trademarks |
239 (only the latest 3 are listed) |
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Registration No. |
9835695 |
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Registration date |
Aug.11th, 2011 |
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Image |
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Registration No. |
9841167 |
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Registration date |
Aug.12th, 2011 |
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Image |
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Registration No. |
9841408 |
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Registration date |
Aug.12th, 2011 |
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Image |
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PATENTS
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Total patents |
447 (only the latest 3 are listed) |
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Application No. |
201120042839.3 |
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Application date |
Feb.21st, 2011 |
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Patent name |
Fuel gas controlling device |
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Application No. |
201120066553.9 |
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Application date |
2011-03-14 |
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Patent name |
Cylinder end and gas engine |
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Application No. |
201020647319.0 |
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Application date |
2010-12-08 |
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Patent name |
Accelerator device |
MAIN
PRODUCTS & SERVICES
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Main business |
Manufacture and sales of general motor |
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Products and services |
Subject’s business includes R&D,
manufacture and sales. Its products include different types of engines,
generators, water pumps and other machineries as well as spare parts. |
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Certificates |
ISO1400 CE EU2 EPA CARB NOISE GS EMC USDA |
SALES
INFORMATION
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Local sales |
30% |
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Regions |
All
over China |
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Major domestic clients |
CHONGQING LONCIN
IMPORT & EXPORT CO., LTD |
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Payment terms |
Prompt payment; on credit |
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Export |
70% |
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Regions |
Mid-east, southeast Asia,
USA, Europe etc. |
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Major overseas clients |
Operadoras
En Servicios CommercialesS.A. De C.V |
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Payment terms |
L/C, T/T |
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Subject’s products are
mainly sold to domestic and international agricultural machinery and motor manufacturers.
It provides ODM service for some famous brands including HUSQVARNA, CUMMINS,
GENERAC and CUMMINS etc. |
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The above information was
confirmed by SC’s employee |
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PURCHASE
INFORMATION
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Main Commodities Purchased |
Steel, iron, lathe, production equipments |
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Region |
Local: 90% Import: 10% |
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Number of Major Suppliers |
More than 5 |
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Major suppliers |
BEIJING ANDE JIANQI DIGITAL EQUIPMENTS CO., LTD;
CHONGQING DONGCE TESTING TECHNOLOGY CO. LTD |
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Main Terms of Payment |
Local: Prompt payment; on
credit International: L/C, T/T |
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Subject’s purchasing is done both
domestically and internationally. With long history, it has stable suppliers. |
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The above information was confirmed by SC’s
employee |
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CREDIT
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Name of supplier |
BEIJING ANDE JIANQI
DIGITAL EQUIPMENTS CO., LTD |
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Main commodities and service supplied |
Cutting lathe |
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Title of interviewee |
Sales staff |
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Telephone of Interviewee |
86-10-61678871 |
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Cooperation |
Confirmed |
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Payment comment |
Good |
LITIGATION
RECORDS
After checking with China Court organization,
the local court website and other major searching websites, no litigation
record related to subject company in the latest three years is found.
FINANCE
N/A
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.84 |
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UK Pound |
1 |
Rs.86.72 |
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Euro |
1 |
Rs.69.17 |
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.