MIRA
INFORM REPORT
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Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU FOCUS CHEMICAL CO., LTD. |
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Registered Office : |
Room 518, No. 29 Pingfeng Street, Xiacheng District Hangzhou City, Zhejiang Province 310003 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.04.2010 |
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Com. Reg. No.: |
330103000092339 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Exporting chemical materials & products |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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China |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
HANGZHOU FOCUS CHEMICAL CO., LTD.
(TRADE NAME: GREEN PLANTCHEM COMPANY LIMITED)
ROOM 518, NO. 29 PINGFENG STREET, XIACHENG DISTRICT
HANGZHOU CITY, ZHEJIANG PROVINCE 310003 PR CHINA
TEL: 86 (0) 571-88223531
FAX: 86 (0) 571-88223532
EXECUTIVE SUMMARY
Date of Registration : april 19, 2010
REGISTRATION NO. : 330103000092339
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 500,000
staff :
4
BUSINESS CATEGORY : trading
Revenue :
CNY 342,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 358,000 (AS OF DEC. 31, 2010)
WEBSITE : www.focuschemist.com; www.gplantchem.com
E-MAIL :
kinko@focuschemist.com;
info@gplantchem.com
PAYMENT :
AVERAGE
RECOMMENDED CREDIT LIMI : UP TO
USD 1,000 (PERIODICAL REVIEW)
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : fair
GENERAL REPUTATION : fair
EXCHANGE RATE :
CNY 6.40 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
***Note: The provide address (1403 BC No. 308 North
Zhongshan Rd., Hangzhou) was SC’s former one, while SC is currently operating
in the heading premise.
SC’s name should be the heading one, while Green
Plantchem Company Limited is SC’s related company registered in Hong Kong, and
SC also uses this name as its trade name.
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 330103000092339 on April 19, 2010.
SC’s Organization Code Certificate No.:
55268149-X
SC’s Tax No.: 33010055268149X
SC’s registered capital: cny 500,000
SC’s paid-in capital was cny 500,000
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Jin Weijuan |
60 |
|
Jin Genfu |
40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Jin Genfu |
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Supervisor |
Jin Weijuan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Jin Weijuan 60
Jin Genfu 40
MANAGEMENT
Jin Genfu, Legal Representative,
Chairman and General Manager
-------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
English name: Kinko Jin
Ø
ID# 330719197702085579
Ø
Age: 34
Ø
Qualification:
University
Ø
Mobile
Phone No.: 13588755222
Ø
Working
experience (s):
From 2010
to present, working in SC as legal representative, chairman and general manager
Jin Weijuan,
Supervisor
--------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes wholesaling and
retailing chemical materials & products, meters & instruments,
groceries, garment, arts & crafts, and hardware; importing and exporting
commodities and technology.
SC is mainly engaged
in exporting chemical materials & products.
SC’s products
mainly include:
Formic Aicd
Sodium Formate
Calcium Formate
Potassium Formate
Phosphoric Acid
Trisodium Phosphate
Sodium Tripolyphosphate
Potassium monopersulfate
Pentaerythritol
Di-Pentaerythritol
Linear alkyl benzene sulfonic acid
Sodium Lauryl Ether Sulfate
Dodecyl dimethyl betaine
Cocamidopropyl betaine
CMEA
Coco fatty diethanol amide
SC sources its materials 100% from domestic
market, mainly Zhejiang. SC sells 100% of its products to overseas market,
mainly U.S.A., Europe, South America, Southeast Asia, etc.
The buying terms
of SC include T/T and Credit of 30-60 days. The payment terms of SC include L/C
and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 4 staff at
present.
SC rents an area
as its operating office of approx. 80 sq. meters at the heading address.
RELATED COMPANY
l
Green Plantchem Company Limited (Hong Kong)
=======================================
Registration
No.: 0978419
Date
of Registration: June 21, 2005
Legal
Form: Private
Status:
Live
Registered
Address: Rm 907 Jhz071, Wing Tuck Comm Ctr 177-183 Wing Lok St, HK
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Bank
of China Zhongda Sub-branch
AC#800141009508093001
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
192 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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Other receivable |
166 |
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Inventory |
0 |
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Non-current
assets within one year |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
358 |
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Fixed assets |
0 |
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Construction in
progress |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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------------------ |
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Total assets |
358 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
0 |
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Wages payable |
0 |
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Advances from
clients |
0 |
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Other payable |
0 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
0 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
0 |
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Equities |
358 |
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------------------ |
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Total
liabilities & equities |
358 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
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Revenue |
342 |
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Cost of sales |
338 |
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Sales expense |
46 |
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Management expense |
98 |
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Finance expense |
2 |
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Profit before
tax |
-142 |
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Less: profit tax |
0 |
|
-142 |
Important Ratios
=============
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As of Dec. 31, 2010 |
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*Current ratio |
-- |
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*Quick ratio |
-- |
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*Liabilities
to assets |
-- |
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*Net profit
margin (%) |
-41.52 |
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*Return on
total assets (%) |
-39.66 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable/ Revenue ×365 |
-- |
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*
Revenue/Total assets |
0.96 |
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* Cost of
sales / Revenue |
0.99 |
FINANCIAL COMMENTS
PROFITABILITY:
POOR
l
Established in April 2010, the revenue of SC
appears poor.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
l
SC’s cost of goods sold is high, comparing with its
revenue.
LIQUIDITY: AVERAGE
l
SC has no inventory in 2010.
l
SC has no accounts receivable in 2010.
l
SC has no short-term loans in 2010.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions
and short history. A credit line up to USD 1,000
would appear to be within SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.92 |
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|
1 |
Rs.76.52 |
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Euro |
1 |
Rs.66.64 |
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 |
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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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.