MIRA
INFORM REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GUIZHOU
SINO-PHOS CHEMICAL co., Ltd. |
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Registered Office : |
Room 1105, 11/F, Zhongxia Building, No. 101 Zhonghua North
Road, Guiyang, Guizhou Province 550004 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.09.2002 |
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Com. Reg. No.: |
5201002227534 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in selling chemical products |
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No. of Employees : |
30 |
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 50,000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
GUIZHOU SINO-PHOS CHEMICAL co.,
Ltd.
ROOM 1105, 11/F, ZHONGXIA BUILDING,
NO. 101 ZHONGHUA NORTH ROAD, GUIYANG, GUIZHOU PROVINCE 550004 PR CHINA
TEL: 86 (0) 851-6831851/6864176
FAX: 86 (0) 851-6830401
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 29, 2002
REGISTRATION NO. : 5201002227534
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
30
REGISTERED CAPITAL : CNY 5,050,000
BUSINESS LINE :
TRADING
TURNOVER : CNY 97,950,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 8,350,000 (AS OF DEC. 31, 2011)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 50,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND :
fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.30 = 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 Renminbi
Note: the given telephone number and fax number
is not correct.
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 Sep. 29,
2002.
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 yellow phosphorus and corrosion products (the license
is valid within the business), chemical raw materials and products (except
hazardous chemicals), mineral products, machinery and equipment,
instrumentation, hardware, arts and crafts (except gold and silver jewelry),
clothing, pin textile, daily necessities, building materials, decorative
materials, II, III types of mechanical and electrical products; import and
export of various goods and technology, excluding the goods and technology
prohibited or limited by the country; phosphorus iron ore production and
processing (operations limited to branches with the relevant license).
SC is mainly
engaged in selling chemical products.
Mr.
Huang Yuemin is the legal representative and chairman of SC at present.
SC is known to have approx. 30 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Guiyang. SC’s management declined to
release the detailed information of the premise.
http://www.sino-phos.com/ The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: sino-phos@sino-phos.com
; sales@sino-phos.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name % of Shareholding
Huang Yaoqing
5.94
Huang Yuemin
70.30
Ye Bo 5.94
Ren Zili
17.82
l
Legal representative and chairman:
Mr. Huang Yuemin is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
SC is mainly
engaged in selling chemical products.
SC’s products mainly include yellow phosphorus, phosphoric acid, sodium
tripolyphosphate, sodium hexametaphosphate, ferro phosphorus, tri sodium
phosphate, etc.
SC sources its materials
and products 100% from domestic market. SC sells 30% of its products in
domestic market, and 70% to the overseas market, mainly Europe, South America,
Middle East and Southeast Asia.
The buying terms of SC include Check, 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 clients and suppliers.
Branches:
…………
Guizhou Sino-Phos Chemical Co., Ltd. Guangzhou Branch
Guizhou Sino-Phos Chemical Co., Ltd. Machinery Equipment Branch
Etc.
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 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.
SC’s management
declined to release its banking information.
Financial Summary
Unit: CNY’000
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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Total Liabilities |
6,460 |
11,540 |
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Shareholders equities |
11,340 |
8,350 |
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Total Assets |
17,800 |
19,890 |
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Turnover |
/ |
97,950 |
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Profit before tax |
/ |
-2,950 |
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Less: profit tax |
/ |
20 |
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Net profit |
/ |
-2,970 |
Note: we did not find SC’s detailed
financial reports for Yr2010 & 2011.
Important
Ratios
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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*Liabilities
to assets |
0.36 |
0.58 |
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*Net profit
margin (%) |
/ |
-3.03 |
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*Return on
total assets (%) |
/ |
-14.93 |
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*Turnover/Total
assets |
/ |
4.92 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line in
2011.
l
SC’s net profit margin is fair in 2011.
l
SC’s return on total assets is fair in 2011.
l
SC’s turnover is in a fairly good level in 2011,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in 2011.
l
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 50,000 would
appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
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|
1 |
Rs.84.16 |
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Euro |
1 |
Rs.68.84 |
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.