MIRA
INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
BEIJING DHP CHEMICAL ENGINEERING CO., LTD. |
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Registered Office : |
Jinma Industrial Development Zone, Gaoliying Town Shunyi
District, Beijing 101302 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
07.08.1995 |
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Com. Reg. No.: |
110106002952892 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling chemical machinery equipment. |
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 450,000 |
|
Status : |
Satisfactory |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
BEIJING DHP CHEMICAL ENGINEERING CO., LTD.
JINMA INDUSTRIAL DEVELOPMENT ZONE, GAOLIYING TOWN
SHUNYI DISTRICT, BEIJING 101302 PR CHINA
TEL: 86 (0) 10-69495580/69495581/69495582/69495583
FAX: 86 (0) 10-69495585
EXECUTIVE SUMMARY
Date of Registration : august 7, 1995
REGISTRATION NO. : 110106002952892
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 10,000,000
staff :
138
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 111,062,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 58,727,000 (AS OF DEC. 31, 2010)
WEBSITE : www.dhp.com.cn
E-MAIL :
dhp@dhp.com.cn
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD 450,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND : fairly STEADY
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
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 110106002952892
on August 7, 1995.
SC’s Organization Code Certificate No.:
10221019-9
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 |
|
2008 |
Registered Capital |
CNY 7,000,000 |
CNY 10,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Zhang Ruiguang |
75 |
|
Chen Hong |
25 |
Note: According to SC’s accountant, SC will increase its registered
capital soon.
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhang Ruiguang |
|
Supervisor |
Chen Hong |
RECENT DEVELOPMENT
SC has got the certificate ISO9001.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Zhang Ruiguang 75
Chen Hong 25
Note: According to SC’s accountant, SC will increase its registered
capital soon.
MANAGEMENT
Zhang Ruiguang , Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 50
Ø
ID# 110105196104040032
Ø
Qualification:
University
Ø
Working
experience (s):
At present,
working in SC as legal representative, chairman and general manager
Also
working in Beijing Dehoupu Xiwang Chemical Machinery Co., Ltd. and Beijing
Huawen Meice Technology Co., Ltd. as legal representative
Chen Hong,
Supervisor
---------------------------------------
Ø
Gender: F
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered
business scope includes common freight; not to engage in any items prohibited
by laws, administrative regulation and State Council; and select to deal with any
items that do not need any permit; exporting its products and technology,
importing raw materials, instruments and meters, machinery equipment, parts and
technology needed in the manufacture, excluding the items limited or forbidden
by the state.
SC is mainly
engaged in manufacturing and selling chemical machinery equipment.
Brand: 
SC’s products
mainly include:
Pet Chips Dryer
Air Purifying and
Drying Systems
Chip Conveying
System
Film Production
Line Complementary Plants
SSP
Plant
DCA
Air Handing Unit
Chemical
Fiber Complementary Plant and Parts
Textile
Machinery Accessories
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 40% of its products in domestic
market, and 60% to overseas market, mainly Southeast Asia.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 138 staff at
present.
SC owns an area as
its operating office & factory of approx. 10,000 sq. meters at the heading
address.
RELATED COMPANY
n
Beijing Dehoupu Xiwang Chemical Machinery Co., Ltd.
--------------------------------------------------------------------------
Date of Registration: April 2, 2001
Registration No.: 110113002611264
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 500,000
n
Beijing Huawen Meice Technology Co., Ltd.
------------------------------------------------------------
Date of Registration: August 15, 2001
Registration No.: 110113003172835
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 500,000
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
Basic Bank:
Industrial and Commercial Bank of China Beijing Branch
AC#:
0200004709006730464
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
|
12,450 |
12,770 |
|
|
Accounts
receivable |
2,600 |
16,070 |
|
Advances to
suppliers |
820 |
-1,390 |
|
Other receivable |
5,370 |
6,080 |
|
Inventory |
1,600 |
2,720 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
20 |
400 |
|
|
------------------ |
------------------ |
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Current assets |
22,860 |
36,650 |
|
Fixed assets |
23,110 |
25,230 |
|
Construction in
progress |
0 |
0 |
|
Intangible
assets |
0 |
0 |
|
Long-term
investment |
1,020 |
1,020 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
40 |
40 |
|
|
------------------ |
------------------ |
|
Total assets |
47,030 |
62,940 |
|
|
============= |
============= |
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Short-term loans |
2,000 |
14,000 |
|
Accounts payable |
8,070 |
1,690 |
|
Tax payable |
-240 |
-760 |
|
Advances from
clients |
11,470 |
3,290 |
|
Other payable |
2,450 |
2,720 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
23,750 |
20,940 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
23,750 |
20,940 |
|
Equities |
23,280 |
42,000 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
47,030 |
62,940 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2008 |
As of Dec. 31,
2009 |
|
Revenue |
96,400 |
100,840 |
|
Cost of sales |
72,840 |
71,550 |
|
Sales expense |
7,080 |
2,160 |
|
Management expense |
7,200 |
8,580 |
|
Finance expense |
2,720 |
7,890 |
|
Profit before
tax |
6,550 |
17,740 |
|
Less: profit tax |
1,640 |
2,660 |
|
4,910 |
15,080 |
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
Long term investment |
1,024 |
|
Total assets |
67,926 |
|
|
------------- |
|
Long term liabilities |
0 |
|
Total
liabilities |
9,199 |
|
Equities |
58,727 |
|
|
------------- |
|
Revenue |
111,062 |
|
Profit before
tax |
19,704 |
|
Less: profit tax |
2,956 |
|
Profits |
16,748 |
Note: The detailed financials for Y2010 are not filed in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2008 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.96 |
1.75 |
-- |
|
*Quick ratio |
0.90 |
1.62 |
-- |
|
*Liabilities
to assets |
0.50 |
0.33 |
0.14 |
|
*Net profit
margin (%) |
5.09 |
14.95 |
15.08 |
|
*Return on
total assets (%) |
10.44 |
23.96 |
24.66 |
|
*Inventory /
Revenue ×365 |
6 days |
10 days |
-- |
|
*Accounts
receivable/ Revenue ×365 |
10 days |
58 days |
-- |
|
*
Revenue/Total assets |
2.05 |
1.60 |
1.64 |
|
* Cost of
sales / Revenue |
0.76 |
0.71 |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good, and it was
rising year by year.
l
SC’s net profit margin is average in 2008 and
fairly good in 2009 and 2010.
l
SC’s return on total assets is fairly good in three
years.
l
SC’s cost of goods sold is average in 2008 and
2009, comparing with its revenue.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2009.
l
SC’s quick ratio is maintained in a fairly good
level in 2009.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear average in 2009.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in 2010
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good financial
conditions. A credit line up to USD 450,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
|
1 |
Rs.75.97 |
|
Euro |
1 |
Rs.65.99 |
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 |
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 |
|
-- |
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.