MIRA
INFORM REPORT
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Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
Liaoning Shixing Pharmaceutical & Chemical CO., Ltd. |
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Registered Office : |
NO. 4, Jinhu North
Road, Longgang District, Huludao, Liaoning Province, 125003 Pr |
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Country : |
China |
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Date of Incorporation : |
16.05. 2000 |
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Com. Reg. No.: |
2114002600257 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Different Sorts of Chemicals. |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
Liaoning Shixing Pharmaceutical & Chemical CO., Ltd.
NO. 4, JINHU NORTH
ROAD, LONGGANG DISTRICT,
HULUDAO, LIAONING
PROVINCE, 125003 PR CHINA.
TEL: 86 (0)
429-2200111 FAX: 86 (0) 429-2200113
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 16, 2000
REGISTRATION NO. : 2114002600257
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 800
REGISTERED CAPITAL : CNY 29,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.99 = USD 1
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 May 16, 2000.
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 manufacturing and selling paraaminophenol,
para-nitrochloro-benzene, ortho-nitrochlorobenzene, chlorinated benzoic,
vanilline, phenyl hydrazine, parachloroaniline, pharmaceutical intermediate,
paranitrophenylhydrazine, hydrochloride, p-Chlorophenylhydrazine hydrochloride, paracetanol, iron oxide red and iron oxide
yellow; exporting self-made products
and importing raw materials and
relevant technology for its production and research.
SC is mainly
engaged in manufacturing and selling different sorts of chemicals.
Mr. Dong Guanglin has been legal
representative and chairman of SC since 2000.
SC is
known to have approx. 800 employees 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
Huludao. Our checks reveal that SC owns the total premise about 150,000 square
meters.
http://www.hldsxyh.cn/ The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
Email: phchp@online.ln.cn
SC has been certified by ISO9001, ISO9001, ISO14001, and
OHSMS18001 International Quality System.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Dong Guanglin 99
Dong Dawei 1
l
Legal representative and chairman:
Mr. Dong Guanglin , in his 50’s with
university education. He is currently responsible for the overall management of
SC.
Working Experience(s):
From 2000 to present Working
in SC as chairman and legal representative.
SC is mainly
engaged in manufacturing and selling different sorts of chemicals.
SC’s products
mainly include 2-Ethoxyphenol, Paracetamol, Para-Amino phen,
P-Nitrochlorobenzene, O-Nitrochlorobenzene, etc.
SC offer dozens of
pharmaceutical, agrochemical and dyestuff intermediate, including
Ethyl-Vanillin, Ortho-Anisidine, O-Nitro anisole, 2-Ethyl Guaiacol, Para-Amino
phenol, P-Nitrochlorobenzene, O-Nitrochlorobenzene, etc. The target output is
Ethyl-Vanillin 1000 tons per year, Ortho-Anisidine 10000 tons per year and
Ortho-Nitro anisole 15000 tons per year.
SC sources its materials 90%
from domestic market, and 10% from overseas market, mainly Europe. SC sells 30%
of its products in domestic market, and 70% to overseas market, mainly Europe
and Southeast Asian market.
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’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
8 years. Credit up to moderate amount may be considered.
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. |
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%)