MIRA INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HEBEI HUA AO CHEMICAL CO LTD |
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Registered Office : |
No. 518, North Jingda Road, Hengshui City, Hebei Province 053000
PR |
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Country : |
China |
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Date of Incorporation : |
15.08.2006 |
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Com. Reg. No.: |
131100000013334 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and Selling Cyanuric Acid and Fertilizer. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
hebei hua ao chemical co., ltd.
no. 518, north jingda road, hengshui city
hebei province 053000 PR CHINA
518
TEL: 86 (0) 318-2136888/6868888 FAX: 86 (0) 318-2197888
EXECUTIVE SUMMARY
INCORPORATION DATE : aug. 15, 2006
REGISTRATION NO. :
131100000013334
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
180
REGISTERED CAPITAL : CNY 20,100,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : UNDETERMINED
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.83 =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 Aug.
15, 2006.
Company Status: Limited
Liability Company 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 cyanuric acid and
fertilizer; wholesaling, importing and exporting chemical products, machinery,
electronics, hardware, and silk net products.
SC is mainly engaged
in manufacturing and selling cyanuric acid and fertilizer.
Mr.
Zhang Aiyong has been chairman of SC since 2006.
SC is known
to have approx. 180 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 Hengshui. Our checks
reveal that SC owns the total premise about 30,000 square meters.
http://www.huaao-chem.com
The design is professional and the content is well organized. At present the
web is both in Chinese and English versions.
E-mail: huaao-chem@163.com
According to SC’s accountant Mr. Chen, SC started its business normally
in May of 2007.
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2008 |
Registration number |
1311002002178 |
131100000013334 |
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Zhang Aiyong 69.65
ID#133001197105154218
Zhang Yongbiao 30.35
ID#131102821203121
l
Chairman and General Manager:
Mr. Zhang Aiyong, 37 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2006 to present Working in SC as chairman and
general manager.
Supervisor:
Zhang Yongbiao
SC is mainly
engaged in manufacturing and selling cyanuric acid and fertilizer.
SC’s products mainly include: cyanuric acid and fertilizer.
SC owns 3 production lines of cyanuric acid and 2
warehouses. Production ability is as 25,000mt/a of Cyanuric acid, 40,000mt/a of
ammonium sulphate and approved ISO9001.
SC sources its
materials 100% from domestic market, mainly Hebei province. SC sells 80% in
domestic market, and 20% to overseas market, mainly European and American
countries.
The buying terms of SC include Check, T/T, and Credit of 30-60 days. The
payment terms of SC include T/T, Check, 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.
Bank of China
Hengshui Hexi Sub-branch
AC#
894417273908091001
Relationship:
Normal.
SC started its
normal business in May of 2007, so the financial records are not available.
SC started its normal business in 2007, and its credit has not been
established yet. Credit dealings with SC should be confined into small amount
at present.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.49 |
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UK Pound |
1 |
Rs. 84.21 |
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Euro |
1 |
Rs. 66.33 |
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%)