MIRA
INFORM REPORT
|
Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHENGUANG NATURAL PIGMENT GROUP CO., LTD |
|
|
|
|
Registered Office : |
No. 1 Chenguang Road, Quzhou Town, Handan, Hebei Province, 057250 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
12.04.2000 |
|
|
|
|
Com. Reg. No.: |
130435000000577 |
|
|
|
|
Legal Form : |
Limited Liabilities Co. |
|
|
|
|
Line of Business : |
Producing and selling various kinds of Natural
Pigment. |
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 600,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Name & address
CHENGUANG NATURAL PIGMENT GROUP CO., LTD.
NO. 1 CHENGUANG ROAD, QUZHOU TOWN, HANDAN,
HEBEI PROVINCE, 057250 PR CHINA
1
TEL: 0086-310-8851168 FAX: 0086-310-8851655
EXECUTIVE SUMMARY
INCORPORATION DATE :
APR. 12, 2000
REGISTRATION NO. :
130435000000577
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. LU QINGGUO (CHAIRMAN)
STAFF STRENGTH :
400
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 148,826,000 (AS OF DEC. 31, 2007)
EQUITIES :
CNY 85,548,000 (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 600,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.87330 = 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 co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on Apr. 12, 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 producing and selling various kinds
of natural pigment, pigment byproducts, chili and chili products; purchasing
pigment materials; importing and exporting commodities and
technologies, excluding export commodities limited by the state
(validity
period is to 15th November, 2008).
SC is mainly
engaged in producing and selling various kinds of natural pigment.
Mr. Lu Qingguo has
been legal representative and chairman of SC since 2000.
SC is known to have approx. 400 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 Handan. Our checks
reveal that SC owns the total premise about 9,000 square meters.
http://www.cn-cg.com
The design is professional and the
content is well organized. At present it is both in Chinese and English
versions.
E-Mail: sesu@hdchenguang.com
|
Date of change |
Item |
Before the
change |
After the change |
|
2003-09-24 |
Registered capital |
CNY 2,000,000 |
CNY 8,000,000 |
|
2003-12-09 |
Registered name |
Hebei Quzhou
Chenguang Natural Pigment Co., Ltd. |
Hebei Chenguang
Natural Pigment Co., Ltd. |
|
2007-04-11 |
Registered capital |
CNY 8,000,000 |
CNY 50,000,000 |
|
2008-05-06 |
Registered name |
Hebei Chenguang Natural Pigment Co., Ltd. |
Chenguang Natural Pigment Co., Ltd. |
|
2008-06-11 |
Registered name |
Chenguang Natural Pigment Co., Ltd. |
Chenguang Natural Pigment Group Co., Ltd. |
|
Unspecified |
Registered no. |
1304352080088 |
130435000000577 |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhou Jing ID#370103821102552 4.55
Li Yuezhai ID#132123700210326 11.05
Liu Yingshan ID#132123460106001 4.55
Ning Zhanyang ID#132123820319001 4.55
Han Cunzhang ID#132123520112001 4.18
Lu Qingguo ID#132123590309001 15.02
Dong Xizhong ID#132123330117001 8.37
Guan Qingbin ID#132123196311010010 8.37
Pang Fuhai ID#132123470316001 4.46
Liu Jingmin ID#132123680820001 2.27
Yang Zhifang ID#132123680411002 4.70
Guan Cuiling ID#132123620224002 4.19
Other individuals 23.74
37
l
Legal representative and chairman:
Mr. Lu QingguoID#132123590309001, born in 1959, 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 producing and selling various kinds of natural pigment.
SC’s products mainly include: Paprika Oleoresin, Marigold Oleoresin, Red
Cabbage, Garlic Extract, Cumin Extract, Tomato Seed Oil, Capsaicin and
Proanthocyanidins.
SC sources its materials 90% from domestic market and 10% from the
overseas market. SC sells 70% of its products to overseas market, mainly in America and Europe, and 30% in domestic 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, T/T, L/C, and Credit of 30-60 days.
According
to SC’s web, SC is known to have the following subsidiaries at present:
Xinjiang
Chenguang Natural Pigment Co., Ltd.
Xinjiang Chenxi Chilli Co., Ltd.
Tianjin Chenguang Natural Pigment Co., Ltd.
Hebei Kekou Food Co., Ltd.
Handan Chenguang Precious Oil Co., Ltd.
(http://www.cn-cg.com/english/corporate/corporate.asp?item=1
)
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 declined to
release its banking details.
Financial summary
Unit: CNY’000
|
|
as
of Dec. 31, 2006 |
as
of Dec. 31, 2007 |
|
Long term
investment |
240 |
27,082 |
|
Total assets |
123,656 |
155,979 |
|
Total
liabilities |
67,590 |
70,431 |
|
Equities |
56,066 |
85,548 |
|
Total liabilities
& equities |
123,656 |
155,979 |
|
|
|
|
|
Turnover |
110,016 |
148,826 |
|
Profits |
8,771 |
10,343 |
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 600,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
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%)