MIRA INFORM REPORT
|
Report
Date : |
13th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ZHEJIANG
HAILIANG CO., LTD. |
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Registered
Office : |
Diankou
Town, Zhuji, Zhejiang, 311814 Pr China |
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Date
of Incorporation : |
29.10.2001 |
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|
|
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Com.
Reg. No.: |
002325 |
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Legal
Form : |
Shares Limited Company |
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Line
of Business : |
Manufacturing and selling copper products. |
RATING & COMMENTS
|
MIRA’s
Rating : |
A |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum
Credit Limit : |
UP TO USD 500,000 |
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|
|
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Status
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
NAME
ZHEJIANG
HAILIANG CO., LTD.
ADDRESS
DIANKOU
TOWN, ZHUJI,
ZHEJIANG,
311814 PR CHINA
TEL : 86 (0) 575-7660700
FAX : 86 (0) 575-7653122
EXECUTIVE SUMMARY
|
INCORPORATION
DATE |
OCT. 29, 2001 |
|
REGISTRATION
NO. |
002325 |
|
REGISTERED
LEGAL FORM |
SHARES LIMITED COMPANY |
|
CHIEF
EXECUTIVE |
MR. FENG
HAILIANG (CHAIRMAN) |
|
STAFF
STRENGTH |
1,300 |
|
REGISTERED
CAPITAL |
RMB
203,000,000 |
|
BUSINESS
LINE |
MANUFACTURING
|
|
TURNOVER |
RMB 1,635,090,000
(AS OF DEC. 31, 2004) |
|
EQUITIES |
RMB 274,490,000 (AS OF DEC. 31, 2004) |
|
PAYMENT |
AVERAGE |
|
RECOMM.
CREDIT RANGE |
UP TO USD 500,000 |
|
MARKET
CONDITION |
COMPETITIVE |
|
FINANCIAL
CONDITION |
STABLE |
|
OPERATIONAL
TREND |
STEADY |
|
GENERAL
REPUTATION |
WELL
KNOWN |
|
EXCHANGE
RATE |
RMB8.07=US1$
AS OF 2005-2-15 |
Adopted
abbreviations:
ANS -
amount not stated
NS - not stated
SC -
subject company (the company inquired by you)
NA - not
available
RMB - China
Ren Min Bi Yuan
SC was
registered as a shares limited company
at local Administration for Industry & Commerce (The official body of
issuing and renewing business license) on Oct. 29, 2001.
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 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 10M.
while that of the co. with foreign investment is RMB 30M. The total capital
of a co. which propose to apply for publicly listed must not less than RMB
50M. 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
SC’s registered business scope includes
copper pipe, copper strap, copper foil and other copper products manufacturing
and processing.
SC is
mainly engaged in manufacturing and selling copper products.
Mr. Feng
Hailiang has been chairman of SC since 2001.
SC owns
about 1,300 staff.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industry zone of Zhuji. Our checks reveal
that SC owns the total premise about 230,000 square meters.
http://www.hailiang.com. The design is
professional and the content is well organized. At present, the web is both in
Chinese and English versions.
SC has got
the certificates of USA NSF, Canada WHI, USA UPC and Europe KITE MARK, ISO14001 and ISO
9001: 2000, etc.
MAIN
SHAREHOLDERS:
At present
SC is preparing to issue shares in Stock Exchange. Its main shareholders are being
changed in the local Administration for Industry and Commerce. It is said by
its financial manager Mr. Tian that SC’s main shareholders will be Zhejiang
Hailiang Group, USA Z & P Industry Co., Ltd, Shaoxing Zhongyu Metal Goods
and Materials Co., Ltd and other 10 individuals including Chen Dong, Yang Lin,
Cao Jianguo and Qian Ang, etc.
Chairman:
Mr. Feng
Hailiang, in his 40’s with university education. He is currently responsible
for the overall management of SC.
Working
Experience(s):
From 2001
to present Working in SC as chairman.
Also
working Hailiang Group Co., Ltd and Chongqing Haiyu Property Co., Ltd as
Chairman.
General
Manager:
Mr. Chen
Dong, in his 40’s with university education. He is currently responsible for
the overall management of SC.
Working
Experience(s):
From 2001
to present Working in SC as general manager.
SC is
mainly engaged in manufacturing and selling copper products.
SC’s
products mainly include: copper stick, copper pipe, copper strap, and copper
foil. At present its products are widely used for air-condition refrigeration,
building canal, automobile industry, electronics information, traffic
transportation.
SC’s main
brand is “Hailiang”.
At present
SC’s annual output is approximately 120,000 tons.
SC sources
its materials 60% from domestic market, and 40% from USA and Europe. SC sells
70% of its products in domestic market, and 30% to Southeast Asian market and
Europe.
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.
SC is known
to have 4 subsidiaries and 5 offices as following,
Shaoxing
jinshi Machinery Co., Ltd.
Hailiang
Group Zhejiang Copper Processing Researching Institute Co., Ltd.
Zhejiang
Hailiang International Trade Co., Ltd.
Zhejiang
Keyu Metal Materials Co., Ltd.
Guangdong
Office
0757-22260607
0757-22277217
Beijing Office
010-88130603
010-88130603
E-Mail: shirelyluck@hotmail.com
Luqiao
Office
0576-2410323
0576-2410323
Tianjin
Office
022-26715015
022-26715015
Shenzhen
Office
0756-8629334
0756-8629334
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.
Construction
Bank of China Diankou Office
AC# : 330656344012611069836
Relationship:
Normal.
SC’s finance
information was not found during our checks with the local Administration for
Industry and Commerce and from its financial manager of Mr. Tian we knew the
following information of SC,
(Unite:
RMB’000) As of Dec. 31, 2003 as of Dec.
31, 2004
Total
Assets: 649,000 1,013,590
Total
Liabilities: 435,970 739,090
Equity: 207,050 274,490
Turnover: 1,225,630 1,635,090
Profit: 44,310 60,530
Over the
past 5 years, SC has made a stable growth with satisfactory profit. A credit
line up to USD 500,000 would
appear to be within SC’s capacities.
WEB DETAILS ATTACHED
About us
Hailiang Group is a
privately held factory and is the
largest producer of copper and brass products in China. The
products are chiefly copper, copper alloy tubing, rods, and brass along with a
series of fittings, couplings, water valves and other products.
Hailiang is regionally diverse and focused on
manufacturing, industry, trade, education and scientific research.
Hailiang was established
in 1989 in the beautiful ancient Chinese City of Xishi-Zhuji of Zhejiang Province,
now employs 3000 people. The company has 1 million square meters of
industrial lord. Hailiang created the first educational group in Zhejiang
Province, the Zhejiang Hailiang Educational Group.
With our modern
equipment, our actual capacity for production of copper tubes a year is
180,000 tons and we
were the first member of the International Wrought Copper Council in
China. With Chinese entry into the WTO, Hailiang will continue to
progress in technology and to a global leader in the production of copper alloy
products. Hailiang is one of the top
500 in china, Total asser is USD 254 million, In 2003,the sales
volume reaches 375 million and export revenue is over USD 20 million, In 2004,
it is estimated sales volumn will be USD 520 million and export revenue USD 60
million.
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 |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |