MIRA
INFORM REPORT
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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Name : |
NINGBO DONGHAI GROUP CORPORATION |
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Registered Office : |
Hengjie, West Suburb, |
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Country : |
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Date of Incorporation : |
16.02.1993 |
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Com. Reg. No.: |
330212000068253 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and
selling instruments & meters |
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No. of Employees : |
800 |
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
NINGBO
DONGHAI GROUP CORPORATION
HENGJIE, WEST
SUBURB, NINGBO, ZHEJIANG PROVINCE 315181 PR CHINA
TEL: 86 (0) 574-87392641 FAX:
86 (0) 574-87849484
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 16, 1993
REGISTRATION NO. : 330212000068253
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 800
REGISTERED CAPITAL :
CNY 30,330,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A (AS OF DEC. 31,
2010)
EQUITIES :
N/A (AS
OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.32 =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 Feb. 16, 1993.
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 general cargo
service; contracting foreign engineering projects; sending workers needed for
overseas projects; researching, developing and selling water meter, electric
energy meter, gasometer, heat scale, net water meter, IC card of intelligent
instruments, intelligent five table long-distance meter reading system;
technical service; manufacturing and processing
timer, waterway programmed control valves and fittings; importing and
exporting commodities and technologies, excluding commodities and technologies
prohibited by the state.
SC is mainly engaged in manufacturing and
selling instruments & meters.
Mr.
Yuan Liding is the legal representative, chairman and general manager of SC at
present.
SC is
known to have approx. 800 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 Ningbo. The detailed premise information is unknown.
http://www.dhchina.cn/ The design
is professional and the content is well organized. At present the web site is
in Chinese and English versions.
Email: marketing@donghai.biz
SC has got ISO Certificate.
MAIN SHAREHOLDERS:
Name % of Shareholding
Yuan Jiangang 15
Yuan Liding 70
Yuan Xiaping 15
Legal
Representative, Chairman and General Manager:
Mr. Yuan Liding, with university education. He 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 Ningbo Dongzhou Copper Valve Co., Ltd. and Ningbo Huatao Instrument Co., Ltd. as legal representative.
Supervisors:
Wang Dinghua
Xie Liangfu
SC is mainly engaged in manufacturing and
selling instruments & meters.
SC’s products mainly include: water
meter, gas meter, heat meter, etc.
SC sources
its materials 60% from domestic market and 40% from overseas market. SC sells
70% of its products in domestic market and 30% to overseas market.
The buying terms of SC include Check, T/T, L/C, and Credit
of 30-60 days. The payment terms of SC include T/T, L/C, Check and Credit of
30-60 days.
Note:
SC declined to release its major suppliers and clients.
According
to http://www.dhchina.cn/
· Ningbo Donghai Instrument Waterway co., ltd.
Ningbo
Dongzhou Copper Valve Co., Ltd.
Ningbo
Huatao Instrument Co., Ltd.
Etc.
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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered medium-sized in its line with a development history of 19
years.
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
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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.