MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
HEZE RUICHANG
CHEMICAL Co., Ltd. |
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Registered Office : |
No. 1, |
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Country : |
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Date of Incorporation : |
March 6, 2001 |
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Com. Reg. No.: |
3717002801006 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
processing and selling chemical raw materials. |
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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Maximum Credit Limit : |
Up To USD10,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
HEZE RUICHANG
CHEMICAL Co., Ltd.
NO. 1,
TEL :
86 (0) 530-5850186
FAX :
86 (0) 530-5854766
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 6, 2001
REGISTRATION NO. : 3717002801006
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 50
REGISTERED CAPITAL : CNY 9,994,700
BUSINESS LINE :
PROCESSING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly steayd
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
7.57 = US1$ AS OF 2007-8-2
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: The given address –
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on March 6, 2001.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. At least two shareholders and no more
than fifty 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 listed as follows: -manufacturing co. :
CNY 500,000.00 -trading &wholesaling
co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy & service
co. : CNY 100,000.00 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 research, introduction and development of technology in
fine chemistry field, spreading new technology and new products in medical
chemistry, and chemical machinery field, manufacturing and selling medical
intermediates, excluding the hazard chemicals.
SC is mainly
engaged in processing and selling chemical raw materials.
Mr. Sun Peng has been legal representative and chairman of SC since
2001.
SC owns approximately 50 staff at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the industrial zone of Heze. Our checks
reveal that SC rents the total premise about 600 square meters.
SC is not known to host website of its own at present.
SC’s former registered capital was CNY 1,500,000,
and it has been increased to
CNY 9,994,700.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Heze Ruiying Pharmaceutical Co., Ltd. 20
Heze Ruichen Technology Development Co., Ltd. 16
Heze Ruiyuan Chemicals Co., Ltd. 37
Shang Zhongdong 4.4
Yang Dianchen 2.7
Sun Peng 2.7
Yang Yu 2.7
Peng Jixian 9.1
Peng Jidong 2.7
Zheng Quanhong 2.7
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Legal representative and General manager:
Mr. Sun Peng, 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 and legal representative.
SC is mainly
engaged in processing and selling chemical raw materials.
SC’s products
mainly include diethyl oxalate, thiophosgene, GCLE and mezlocillin, etc.
SC sources its materials 80% from
domestic market, and 20% from overseas market, mainly
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
not known to have any subsidiary at present.
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 are not available in the local Administration for Industry and
Commerce.
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)