MIRA
INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
JINAN CHENGHUI SHUANGDA CHEMICAL CO., LTD |
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Registered Office : |
Room 108, |
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Country : |
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Date of Incorporation : |
17.06.2002 |
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Com. Reg. No.: |
3701052800781 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in Developing and Manufacturing Different Kinds of
Chemical Industrial Intermediates |
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 : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
JINAN CHENGHUI SHUANGDA CHEMICAL CO., LTD.
ROOM 108, chengchuang
Technology park,
TEL: 86 (0) 531-82312527
FAX: 86 (0) 531-88017765
EXECUTIVE SUMMARY
INCORPORATION DATE : Jun. 17, 2002
REGISTRATION NO. : 3701052800781
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : Mr. WANG ZHIGANG (chairman)
STAFF STRENGTH : 300
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 7.62 =US$1 AS OF 2007-6-18
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 Jun. 17, 2002.
Company Status: Limited liabilities company This form of business in PR China is defined as a legal
person. 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 50% of the registered capital while contribution by intangible assets
must not exceed 20% 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 developing, manufacturing and selling of Adaravone chemical intermediates; new technology and products R&D, technology transferring: selling of lab apparatus. (Excluding the items with special permit)
SC is mainly engaged in developing and manufacturing different kinds of chemical industrial intermediates.
Mr. Wang Zhigang has been chairman of SC since 2005.
SC owns approximately 300 staff at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the commercial zone of Jinan. Our checks reveal that SC owns the total premise about 5,000 square meters.
www.jnchsd.com The design is professional and
the content is well organized. At present it is in Chinese and English
versions.
E-mail: ydh@jnchsd.com
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2005-11-29 |
Legal representative |
Ms. Wang Zhiming |
Mr. Wang Zhigang |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Zhiming 40
Wang Zhigang 30
Yu Donghai 30
Chairman:
Mr. Wang Zhigang was born in 1957 with university education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005 to present Working in SC as chairman.
General manager:
Mr. Yu Donghai was born in 1964 with university education. He is currently responsible for the daily management of SC.
Working Experience(s):
From 2002 to present Working in SC as general manager.
SC is mainly engaged in developing and manufacturing different kinds of chemical industrial intermediates.
SC’s products mainly include: 4-Pyridine carboxyaldehyde, 1-Benzyl-4-piperidinecarboxylic acid ethyl ester, 4-Butoxyphenol, 2-Hydroxyquinoline-4-carboxylic acid.
SC sources its materials 60% from domestic market, and 40% from overseas market. SC sells 20% of its products in domestic market and 80% in overseas market.
The buying terms of SC include Check, L/C, T/T and Credit of
30-60 days. The payment terms of SC include Check, L/C, T/T, 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 from the local AIC.
SC’s principals declined to release any financial information.
SC is considered medium-sized in its line with a short history. Credit dealings with SC should be confined into small amount at present.
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%)