MIRA
INFORM REPORT
|
Report Date : |
20.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
Langfang
Jinshenghui Chemical Co., Ltd. |
|
|
|
|
Registered Office : |
114 Km Spot, No.
106, National Road, Wenan County, Langfang, Hebei Province, 065800 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
October 17, 2003 |
|
|
|
|
Com. Reg. No.: |
131026000007550 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Engaged in
manufacturing and selling chemical raw materials. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
Up To usd 10,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
Langfang Jinshenghui
Chemical Co., Ltd.
114 KM SPOT, NO. 106, NATIONAL ROAD, WENAN
COUNTY,
LANGFANG, HEBEI PROVINCE, 065800 PR CHINA.
TEL: 86 (0) 316-2028335
FAX: 86 (0) 316-2057976
EXECUTIVE SUMMARY
INCORPORATION DATE : october 17, 2003
REGISTRATION NO. : 131026000007550
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 30
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 30,649,000 (AS OF DEC. 31, 2006)
EQUITIES : CNY 1,246,000 (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : up to usd 10,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.38 = US1$
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 company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on October 17, 2003.
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 producing and selling methyl acid class, methylsufonyl chloride, dimethyl disulfide, phosphoric acid; exporting its
products and technology; importing machinery, parts, materials and technology
needed for its production, excluding the items limited or prohibited by the
state.
SC is mainly
engaged in producing and selling chemical raw materials.
Ms. Zhang Yanjun has been legal representative and chairman of SC since
2003.
SC is
known to have approx. 30 staff members 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
Langfang. Our checks reveal that SC rents the total premise about 5,500 square
meters.
http://www.jinshenghuichem.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: wenlong1@heinfo.net
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhang Yanjun 80
Zhang Qiuhe 20
l
Legal representative and chairman:
Ms. Zhang Yanjun, ID # 132801721014382, 35
years old with university education. She is currently responsible for the
overall management of SC.
Working Experience(s):
From 2003 to present Working in SC as chairman and legal representative.
SC is mainly
engaged in manufacturing and selling chemical raw materials.
SC’s products
mainly include Methane Sulfonic Acid, Methane Sulfonyl Chloride, Dimethyl
Disulfide, Stannous Methane Sulfonate, and so on.
SC sources its materials 100%
from domestic market. SC sells 50% of its products in domestic market, and 50%
to overseas market, mainly Southeast Asian market.
The buying terms of SC include Check, T/T 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.
Financial
Information
Unit: CNY’000
|
|
as of Dec. 31, 2006 |
|
Total
liabilities |
10,452 |
|
Shareholders
equities |
1,246 |
|
Total Assets |
11,698 |
|
|
|
|
Turnover |
30,649 |
|
Total
profits before tax |
243 |
|
Income
tax |
80 |
|
Net profit |
163 |
Important Ratios
=============
|
|
as of Dec. 31, 2006 |
|
*Liabilities
to assets |
0.89 |
|
*Net profit
margin (%) |
0.53 |
|
*Return on total
assets (%) |
1.39 |
|
*Turnover/Total
assets |
2.62 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial conditions.
Credit dealings with SC should be confined into small amount at present.
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)