MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HUANGHUA HUAMAO CHEMICALS CO., LTD. |
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Registered Office : |
Kongdian Industrial Zone, Huanghua City,
Hebei Province 061106 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.08.1998 |
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Com. Reg. No.: |
130983000008629 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and Selling Chemical 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 : |
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
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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 & address
huanghua huamao chemicals co., ltd.
kongdian industrial
zone, huanghua city
hebei province 061106
PR CHINA
TEL: 86 (0)
317-5476966
FAX: 86 (0)
317-5327522
EXECUTIVE SUMMARY
Date of Registration : august 20, 1998
REGISTRATION NO. : 130983000008629
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 2,000,000
staff :
105
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 29,307,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 381,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 1,000
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : fair
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.: 130983000008629 on August 20, 1998.
SC’s Organization Code Certificate No.:
71580479-0
SC’s registered capital: cny 2,000,000
SC’s paid-in capital: cny 2,000,000
Registration Change Record:
|
Date |
Change of
Contents |
Before the
change |
After the change |
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Shareholder (s) |
Kong Xiangrong 50% Kong Linghui 35% Kong Lingchang 15% |
Zhang Ling 15% Kong Xiangrong 50% Kong Linghui 35% |
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Legal Representative |
Kong Xiangrong |
Kong Linghui |
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-- |
Registration No. |
1309832097327 |
130983000008629 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Zhang Ling |
15 |
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Kong Xiangrong |
50 |
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Kong Linghui |
35 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and
General Manager |
Kong Linghui |
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Supervisor |
Zhang Ling |
RECENT DEVELOPMENT
Authenticated by GB/T19001-2000 and GB/T24001-2004, SC has the right of
import and export.
SHAREHOLDER CHART &
BACKGROUND
Name % of
Shareholding
Zhang Ling 15
Kong Xiangrong 50
Kong Linghui 35
MANAGEMENT
Kong Linghui,
Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 34
Ø
ID# 132930197710105318
Ø
Mobile Phone No.: 86 (0) 13931759959
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Zhang Ling, Supervisor
----------------------------------------
Ø
Gender: F
Ø
Age: 40
Ø
ID# 132930197106085349
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes manufacturing
phthalocyanine blue, phthalocyanine blue B, phthalocyanine bronze, and chemical
products, exporting its products and technology; importing materials,
instrument, machinery and equipment, parts and technology needed for its
production, excluding the goods forbidden by the government.
SC is mainly
engaged in manufacturing and selling chemical products.
Brand: QIFEI
SC’s products
mainly include: Phthalocyanine blue B; phthalocyanine green; phthalocyanine
blue BGS-709; phthalocyanine blue BGS-609; phthalocyanine blue BX;
phthalocyanine blue BS; phthalocyanine blue BGS-W; phthalocyanine blue BGS-P;
phthalocyanine blue BGS-E; phthalocyanine blue BGS-SE; phthalocyanine blue
15:4; benzidine yellow, etc.
SC sources its materials 100% from domestic
market, mainly Hebei. SC sells 35% of its products in domestic market, and 65%
to overseas market, mainly USA, Europe, Middle East and Southeast Asia.
The buying terms
of SC include T/T 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. 105 staff at
present.
SC rents an area
as its operating office & factory of approx. 25,000 sq. meters at the
heading address.
RELATED COMPANY
SC is not
known to have any subsidiary at present.
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 Huanghua Sub-branch
AC# N/A
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Long term investment |
0 |
0 |
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Total assets |
13,528 |
14,803 |
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------------- |
------------- |
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Long term liabilities |
0 |
0 |
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Total
liabilities |
13,285 |
14,422 |
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Equities |
243 |
381 |
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------------- |
------------- |
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Revenue |
19,386 |
29,307 |
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Profit before
tax |
-882 |
144 |
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Less: profit tax |
6 |
5 |
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Profits |
-888 |
139 |
Note: The detailed financials for Y2009 and Y2010 are not filed in SAIC.
Important Ratios
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.98 |
0.97 |
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*Net profit
margin (%) |
-4.58 |
0.47 |
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*Return on
total assets (%) |
-6.56 |
0.94 |
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*
Revenue/Total assets |
1.43 |
1.98 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average, and it was
rising in 2010.
l
SC’s net profit margin is fair in 2009 and average
in 2010.
l
SC’s return on total assets is fair in 2009 and
average in 2010.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high in both years.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
A credit line up to USD 1,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.