MIRA INFORM REPORT
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Report Date : |
08.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HUBEI CHUYUAN IMPORT & EXPORT CO., LTD. |
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Registered Office : |
5f, Chuyuan Building, Hi-Tech Industrial Zone,
Shishou City, Hubei Province
434400 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.04.2002 |
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Com. Reg. No.: |
4210811280233 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
importing and exporting
fine chemical products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 60,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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) |
|
China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 & address
HUBEI CHUYUAN IMPORT & EXPORT CO., LTD.
5F, CHUYUAN BUILDING,
HI-TECH INDUSTRIAL ZONE, SHISHOU CITY
HUBEI PROVINCE 434400
PR CHINA
TEL: 86 (0)
716-7226609/7226612
FAX: 86 (0)
716-7226611
EXECUTIVE SUMMARY
Date of Registration : APRIL 25, 2002
REGISTRATION NO. : 4210811280233
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
REGISTERED CAPITAL :
CNY 10,000,000
staff : 20
BUSINESS CATEGORY :
trading
Revenue :
CNY 2,944,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 12,889,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
60,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.38 = 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: SC’s current address should be the heading
one, while the given address (No. 68, Bijiashan Road, Shishou, Hubei Province)
is the registered one.
SC was established
as a limited liabilities company of PRC on April 25, 2002. However, SC changed
to present legal form, and was registered as one-person limited liabilities
company of PRC with State Administration of Industry & Commerce (SAIC)
under registration No.: 4210811280233 on July 31, 2007.
SC’s registered capital: CNY
10,000,000
SC’s paid-in capital: CNY
10,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
-- |
Registered No. |
4210001110587 |
4210811280233 |
|
|
Company Name |
Hubei Chuyuan High-new
Chemical Trade Co., Ltd. |
Hubei Chuyuan Import &
Export Co., Ltd. |
|
|
Legal Representative |
Yang Zhicheng |
Ni Jiabin |
|
Shareholders (Shareholding) |
Hubei Chuyuan Fine Chemical
Group Co., Ltd. 40%, Hubei Chuyuan High-New Chemical Co., Ltd. 40% Hubei Huali Dye Industry Co.,
Ltd. 20% |
Hubei Chuyuan Hi-Tech Co., Ltd. 100% |
|
|
Legal Form |
Limited
Liabilities Company |
One-Person Limited Liabilities Company |
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|
2011 |
Shareholder’s Name |
Hubei Chuyuan Hi-Tech Co., Ltd |
Chuyuan High-New Technology Group Co.,
Ltd. |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chuyuan High-New Technology Group Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Ni Jiabin |
|
Deputy General Manager |
Li Feng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Chuyuan High-New Technology Group Co., Ltd. 100
====================================
Date of Registration: December 29, 2000
Registration No.: 420000000044351
Registered Capital: CNY 164,530,000
Address: High & New Tech Zone, Shishou
Hubei China 434400
Tel: 86 (0) 716 7226456
Fax: 86 (0) 716 7226097
Web: www.chuyuanchem.com
E-mail: www@chuyuangroup.com
MANAGEMENT
Ni Jiabin, Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 55
Ø
ID# 42242419560505063X
Ø
Qualification:
University
Ø
Working
experience (s):
Before 2007, worked in SC as deputy general manager
From 2007 to present, working in SC as legal representative, chairman and general manager
Also working in Jingyuan Chemical Machinery Packaging Manufacturing Co., Ltd. as legal representative
Li Feng,
Deputy General Manager
------------------------------------------------------
Ø
Gender: M
Ø
Age:
Ø
Qualification:
University
Ø
Working
experience (s):
From 2007 to present, working in SC as deputy general
manager
BUSINESS OPERATION
SC’s registered business
scope includes importing and exporting commodities and technology, excluding
commodities and technology limited or prohibited by the state, and import and
export of above mentioned goods.
SC is mainly
engaged in importing and exporting fine chemical products.
SC’s
products mainly include: H acids, K acids and Tobiac Acid, etc.
SC sources its
materials 80% from domestic market, and 20% from foreign market, mainly Europe,
Southeast Asia. SC sells 30% of its products in domestic market, and 70% to
overseas market, mainly USA, Japan, Europe, and Southeast Asia.
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 20
staff at present.
SC rents an area
as its operating office of approx. 300 sq. meters at the heading address.
RELATED COMPANY
l
Hubei
Xinhui Chemical Co., Ltd.
----------------------------------------------
Date of Registration: September 5, 2002
Registration No.: 421000400000521
Registered Capital: CNY 60,000,000
l
Jingyuan
Chemical Machinery Packaging Manufacturing Co., Ltd.
Date of Registration: October 30, 2001
Registration No.: 4210811280110
Registered Capital: CNY 5,000,000
l
Hubei Huali Dye Industry Co., Ltd.
Date of Registration: September 30, 2000
Registration No.: 421000400000669
Registered Capital: CNY 10,357,200
l
Hubei
Xinyuan Bio-engineering Co., Ltd.
Date of Registration: December 2, 2003
Registration No.: 421000400000505
Registered Capital: CNY 50,000,000
l
Shishou
Chyuan Hotel Co., Ltd.
Date of Registration: November 19, 2001
Registration No.: 4210811280108
Registered Capital: CNY 10,000,000
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
Industrial and
Commercial Bank of China Shishou Sub-Branch
AC# 39310093010003011
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Long term investment |
0 |
0 |
0 |
|
Total assets |
55,591 |
74,767 |
126,084 |
|
|
------------- |
------------- |
------------- |
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Long term liabilities |
0 |
0 |
0 |
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Total
liabilities |
45,867 |
65,893 |
113,195 |
|
Equities |
9,724 |
8,874 |
12,889 |
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|
------------- |
------------- |
------------- |
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Revenue |
3,216 |
1,905 |
2,944 |
|
Profit before
tax |
-- |
-- |
3,155 |
|
Less: profit tax |
-- |
-- |
456 |
|
Profits |
-482 |
-849 |
2,699 |
Note: The detailed financials for Y2008, Y2009 and Y2010 are not filed
in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.83 |
0.88 |
0.90 |
|
*Net profit
margin (%) |
-14.99 |
-44.57 |
91.68 |
|
*Return on
total assets (%) |
-0.87 |
-1.14 |
2.14 |
|
*
Revenue/Total assets |
0.06 |
0.03 |
0.02 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
fair in its line in three years.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is average in 2010.
LIQUIDITY:
FAIR
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is high in three years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. Taking into consideration of SC’s
good background, a credit line up to USD 60,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
RATING EXPLANATIONS
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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 |
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 |
|
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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.