MIRA INFORM REPORT
|
Report Date : |
21.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHANGZHOU HARVECHEM LTD. |
|
|
|
|
Registered Office : |
A1505, Changjian Mansion, No. 1268, Longjin Road, Xinbei District, Changzhou, Jiangsu Province 213022 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
15.11.2006 |
|
|
|
|
Com. Reg. No.: |
320483000132478 |
|
|
|
|
Legal Form : |
Limited Liabilities Co. |
|
|
|
|
Line of Business : |
Selling Chemical Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
CHANGZHOU
HARVECHEM LTD.
A1505, CHANGJIAN MANSION, NO. 1268, LONGJIN
ROAD,
XINBEI DISTRICT, CHANGZHOU, JIANGSU PROVINCE
213022 PR CHINA
TEL: 86 (0) 519-88781234 FAX: 86 (0) 519-88721515
EXECUTIVE SUMMARY
INCORPORATION DATE : NOV. 15, 2006
REGISTRATION NO. : 320483000132478
REGISTERED LEGAL FORM : Limited liabilities co.
STAFF STRENGTH : 17
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 30,276,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 1,407,000 (AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 10,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.39= USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Ren Min Bi
Note: The given address 20 Hengyao Road, Zhenxi Industrial Zone, Henglin, Changzhou Jiangsu is SC’s registered address and the operating address should be the heading one.
SC was registered as a Limited liabilities co. at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Nov. 15, 2006.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes
selling chemical raw materials and products, general machinery, hardware,
crafts and daily necessaries; importing and exporting commodities and
technologies, excluding commodities and technologies prohibited by the state.
SC is mainly engaged in selling chemical
products.
Mr. Xu Liyan has been the legal
representative, chairman and general manager of SC since 2006.
SC is known to have approx. 17 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Changzhou. The
detailed premise information is unspecified.
http://www.harvepharm.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: harvechem@vip.163.com
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
|
Registered capital |
CNY 500,000 |
Present amount |
|
Unknown |
Registered no. |
3204832113620 |
Present one |
MAIN
SHAREHOLDERS:
Name % of
Shareholding
Xu Liyan 60
Yao Jie 40
Legal representative, Chairman and General
manager:
Mr. Xu Liyan, ID# 320421197308270016, born
in 1973. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2006 to present working in SC as legal representative, chairman and general manager.
Supervisor:
Yao Jie
SC is mainly engaged in selling chemical
products.
SC’s products mainly include: APi and
Intermediates-Multiple, 4-Phenylbutanol, etc.
SC sources its materials 50% from domestic
market and 50% from overseas market. SC sells 40% of its products in domestic
market and 60% to overseas market.
The buying terms of SC include Check, 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.
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 refused to
release any information of its suppliers and the trade reference was not
available.
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.
We didn’t find
the banking information of SC in local AIC.
Financial
Summary
===============
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
|
Total liabilities |
4,044 |
9,480 |
|
|
Equities |
935 |
1,407 |
|
|
|
-------------- |
-------------- |
|
|
Total liabilities & equities |
4,979 |
10,887 |
|
|
|
========= |
========= |
|
|
Turnover |
18,362 |
30,276 |
|
|
Profit before tax |
367 |
845 |
|
|
Less: profit tax |
92 |
211 |
|
|
Profits |
275 |
634 |
|
Note:
We did not find SC’s detailed financial reports for Yr2009&2010.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As of Dec. 31,
2010 |
|
*Liabilities
to assets |
0.81 |
0.87 |
|
*Net profit
margin (%) |
1.50 |
2.09 |
|
*Return on
total assets (%) |
5.52 |
5.82 |
|
*Turnover/Total
assets |
3.69 |
2.78 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average in its
line and it was increasing in 2010.
· SC’s net profit margin is average.
· SC’s return on total assets is fairly good.
· SC’s turnover is in an average level, comparing with the size of its total assets.
LEVERAGE:
FAIR
· The debt ratio of SC is high.
· The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line
with fairly stable financial conditions. A credit line up to USD 10,000 would appear to be within
SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.22 |
|
UK Pound |
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.65 |
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.