MIRA INFORM REPORT
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Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
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Name : |
JINGKUN CHEMISTRY COMPANY |
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Registered Office : |
No. 210, Kuntai Road, Zhoushi Town, Kunshan, Jiangsu
Province, 215300 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.02.1994 |
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Com. Reg. No.: |
320583000005079 |
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Legal Form : |
Jointly Operated Enterprise |
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Line of Business : |
developing chemical technology and manufacturing & selling chemical
products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 350,000 |
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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) |
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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
JINGKUN CHEMISTRY
COMPANY
NO. 210, KUNTAI ROAD, ZHOUSHI TOWN, KUNSHAN,
JIANGSU PROVINCE, 215300 PR CHINA
TEL: 86(0) 512-57666355 FAX:
86(0) 512-57665755
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 4, 1994
REGISTRATION NO. :
320583000005079
STAFF STRENGTH :
120
REGISTERED CAPITAL : CNY 3,880,000
BUSINESS LINE :
DEVELOPING, MANUFACTURING & TRADING
TURNOVER :
CNY 91,006,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 46,932,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 350,000 (PERIODICAL REVIEW)
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHNAGE RATE :
CNY 6.37= USD 1
.
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million JPY –Japan Yen
SC was registered as a jointly
operated enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Feb. 4, 1994.
Company Status:
Jointly Operated This form of business is a
partnership between two or more economic entities / co. for the purpose of
undertaking business operations or forming closer economic ties. A jointly
operated enterprise can be registered in form of partnership or other type
of economic entities / co.
SC’s registered business scope includes the development and consultant
of petrochemical technology, manufacturing, processing and selling gelatinizer,
CE pour inhibitor; selling chemical materials (excluding hazardous articles),
components of chemical machines; exporting its products and technology,
importing machinery equipment, parts and raw materials needed in the
manufacture, excluding the items limited or forbidden by the state.
SC is mainly
engaged in developing chemical technology and manufacturing & selling
chemical products.
Mr. Peng Shuhua
has been legal representative, chairman and general manager of SC since 2007.
SC is known to have approx. 120 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 Kunshan. Our
checks reveal that SC owns the total premise with the area of 12,000 square
meters.
http://www.jingkun.cn The design is
professional and the content is well organized. At present it is both in
Chinese
and English versions.
E-Mail: kanghongyuan001@foxmail.com;
wenhao@jingkun.cn;
xuzmj@163.com
Chnges
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
|
1999-03-26 |
Legal
representative |
Peng Shuhua |
Hu Huizhi |
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2001-08-01 |
Hu Huizhi |
Hu Chuanzhi |
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2007-11-15 |
Hu Chuanzhi |
Peng Shuhua |
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Unknown |
Registration No. |
3205831102173 |
The present one |
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Name of one of
the shareholders |
CPMEC Kunshan Co. |
China Petroleum Chemistry Kunshan Co., Ltd. |
Honours:
In 2002, SC applied
ISO-9001 Quality Management System;
In 2003, SC obtained Import
and Export Right.
In 2005, SC applied ISO-14001
Environment Management System;
In 2005, SC applied GB/T
28001 QHSE System.
MAIN SHAREHOLDERS:
Name %
of Shareholding
China Petroleum Chemistry Kunshan Co., Ltd. 22.68
CNPC Science and Technology Bureau 38.66
CNPC Science and Technology Extension Centre 38.66
China Petroleum Chemistry Kunshan Co., Ltd.
…………………………………………………
Add.: No. 210 Kuntai Road, Zhoushi Town, Kunshan, Jiangsu Province
Tel.: 86(0)512-57665759
l
Legal representative, Chairman and
General manager:
Mr. Peng Shuhua, ID# 320523620126021, born in 1962, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working in SC as chairman, legal representative and general manager;
Also working in China Petroleum Chemistry Kunshan Co., Ltd. as legal representative.
SC is mainly engaged
in developing chemical technology and manufacturing & selling chemical
products.
SC’s products mainly include: guar gum and its derivatives.
SC sources its materials 90% from domestic market and 10% from the
overseas market. SC sells 30% of its products to overseas market and 70% 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.
Note:
SC declined to release its major suppliers and clients.
SC is
not known to have any subsidiary at present.
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 records 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.
Industrial &
Commercial Bank of China Kunshan Sub-branch
AC#:
23002210147014
Relationship:
Normal.
Financial Summary
===============
Unit: CNY’000
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As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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Total
liabilities |
41,950 |
39,337 |
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Equities |
39,943 |
46,932 |
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-------------- |
-------------- |
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Total
liabilities & equities |
81,893 |
86,269 |
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========= |
========= |
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Turnover |
74,903 |
91,006 |
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Profit before
tax |
6,248 |
8,220 |
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Less: profit tax |
1,556 |
1,213 |
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Profits |
4,692 |
7,007 |
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Note: We did not find SC’s detailed
financial reports for Yr 2009& 2010.
Important Ratios
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As of Dec. 31, 2009 |
As of Dec. 31,
2010 |
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*Liabilities
to assets |
0.51 |
0.46 |
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*Net profit
margin (%) |
6.26 |
7.70 |
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*Return on
total assets (%) |
5.73 |
8.12 |
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*Turnover/Total
assets |
0.91 |
1.05 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears average in its line and
it was increasing in 2010.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly good.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. The given credit amount would appear to be beyond SC’s capacities,
while a credit line up to USD 350,000 is recommended upon a periodical review
basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
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UK Pound |
1 |
Rs.76.65 |
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Euro |
1 |
Rs.66.17 |
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.