MIRA
INFORM REPORT
|
Report Date : |
3rd
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
hebei light industrial
products import and export group co., ltd. |
|
|
|
|
Registered Office : |
No. 26 Zhongjiu Road, Youyi North Street,
Shijiazhuang, Hebei Province,
050071 Pr China |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
25.12.1998 |
|
|
|
|
Com. Reg. No.: |
1300001001078 |
|
|
|
|
Legal Form : |
Shares Limited Company |
|
|
|
|
Line of Business : |
Engaged
in international trade. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Name & Address
hebei light
industrial products import and export group co., ltd.
no. 26 zhongjiu
road, youyi north street, shijiazhuang,
hebei province,
050071 PR CHINA.
TEL : 86 (0) 311-87732008
FAX : 86 (0) 311-87732009
EXECUTIVE SUMMARY
INCORPORATION DATE :
december 25, 1998
REGISTRATION NO. :
1300001001078
REGISTERED LEGAL FORM : Shares limited company
STAFF STRENGTH :
76
REGISTERED CAPITAL :
CNY 37,500,000
BUSINESS LINE : trading
TURNOVER :
CNY 279,870,000 (AS OF DEC. 31, 2005)
EQUITIES :
CNY 49,310,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO usd 20,000 (PERIODICAL REVIEW)
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY7.82 = US$1 AS OF 2007-01-03
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 shares limited company at Hebei
provincial Administration for Industry & Commerce (AIC - The official body
of issuing and renewing business license) on December 25, 1998.
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 importing and exporting commodities and technologies, excluding
the goods forbidden by the government; business of processing with the imported
materials and compensation trade agreement, carrying trade and transiting trade.
SC is mainly engaged in
international trade.
Mr. Sun Xinqiang has been chairman of SC since 1998.
SC owns about 76 staff at
present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shijiazhuang. Our checks reveal that
SC owns the total premise about 1,000 square meters.
http://www.china-heli.com The design is
professional and the content is well organized. At present the web site is only
in English version.
E-mail: heli@heinfo.net
SC has
got the certificate ISO9001.
SC’s former registered name was Hebei Light
Industrial Products Import & Export Co., Ltd., and it was changed to Hebei
Light Industrial Products Import and Export Group Co., Ltd. in October of 2006.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Hebei Shenglun Import & Export Group
Corporation 1.33
Shijiazhuang Kangtai Clothing Co., Ltd. 1.33
Hebei Medicines & Health Products Import
& Export Corporation 1.33
Shareholder’s
Union of Staff 96.01
l
Chairman and General Manager:
Mr. Sun
Xinqiang (孙新强), about 50 years old with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 1998 to present Working
in SC as chairman and general manager.
SC is mainly engaged in
international trade.
SC’s products mainly include:
houseware, shoes and hats, everyday metal products, cutlery and kitchenware,
textile and garments, bags and leather goods, building materials, toys, plastic
products, stationery, paper products, protective clothing, sporting goods, home
electrical appliances.
SC sources its materials 80% from domestic
market, and 20% from overseas market, mainly USA and Europe. SC sells 10% of
its products in domestic market, and 90% to overseas market, mainly Southeast
Asian market, USA and Europe.
The
buying terms of SC include Check, T/T, L/C and Credit of 30-45 days. The
payment terms of SC include T/T, L/C and Credit of 30-45 days.
*Major
Supplier:
============
Shijiazhuang Kangtai Clothing Co., Ltd.
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.
Bank of
China Shijiazhuang Branch
AC#：N/A
Relationship:
Normal.
Balance Sheet (as of Dec. 31, 2005)
Unit: CNY’000
|
Cash & bank |
19,230 |
|
Inventory |
1,010 |
|
Accounts receivable |
36,650 |
|
Other Accounts receivable |
41,080 |
|
To be apportioned expense |
120 |
|
Other current assets |
27,610 |
|
|
------------------ |
|
Current assets |
125,700 |
|
Fixed assets |
19,740 |
|
Fixed assets net value |
13,040 |
|
Projects under construction |
0 |
|
Long term investment |
3,900 |
|
Other assets |
460 |
|
|
------------------ |
|
Total assets |
143,100 |
|
|
============= |
|
Short loans |
28,000 |
|
Accounts payable |
27,550 |
|
Other Accounts payable |
34,400 |
|
Withdraw the expenses in
advance |
1,920 |
|
Other current liabilities |
12,860 |
|
|
------------------ |
|
Current liabilities |
104,730 |
|
Long term liabilities |
0 |
|
Other liabilities |
-10,940 |
|
|
------------------ |
|
Total liabilities |
93,790 |
|
Equities |
49,310 |
|
|
------------------ |
|
Total liabilities &
equities |
143,100 |
|
|
============= |
Income Statement (as of Dec. 31, 2005)
Unit: CNY’000
|
Turnover |
279,870 |
|
Cost of goods sold |
254,630 |
|
Sales expense |
0 |
|
Management expense |
23,740 |
|
Finance expense |
1,930 |
|
Profit before tax |
-15,410 |
|
Less: profit tax |
8,900 |
|
Profits |
-24,310 |
Important Ratios (as of Dec. 31, 2005)
*Current ratio 1.20
*Quick ratio 1.19
*Liabilities to
assets 0.66
*Net profit
margin (%) -8.69
*Return on total
assets (%) -16.99
*Inventory
/Turnover ×365 1 day
*Accounts
receivable/Turnover ×365 48 days
*Turnover/Total
assets 1.96
*Cost of goods
sold/Turnover 0.91
PROFITABILITY: FAIR
l
The
turnover of SC appears average in its line.
l
SC’s
net profit margin is fair.
l
SC’s
return on total assets is fair.
l
SC’s
cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: FAIR
l
The
current ratio of SC is maintained in a normal level.
l
SC’s
quick ratio is maintained in a normal level.
l
The
inventory of SC is maintained in a fairly good level.
l
The
accounts receivable of SC appears fairly large.
l
SC’s
short-term loan appears fairly large.
l
SC’s
turnover is in an acceptable level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
l
The
debt ratio of SC is average.
l
The
risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fair.
SC is
considered small-sized in its line with fair financial conditions. A credit
line up to USD 20,000 would
appear to be within SC’s capacities upon a periodical review basis.
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 |
|
NR |
In view of the lack of information, we have
no basis upon which to recommend credit dealings |
No Rating |
|