MIRA
INFORM REPORT
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Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
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Name : |
shandong shida
shenghua chemical group co., ltd. |
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Registered Office : |
No. 1 Nengyuan Lane, Beier Road, Dongying, Shandong Province, 257061 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.12.2002 |
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Com. Reg. No.: |
370000018078251 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling chemical products |
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No. of Employees : |
700 |
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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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, 2012
|
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
shandong shida shenghua chemical group co., ltd.
no. 1 nengyuan
lane, beier road, dongying,
shandong province,
257061 PR CHINA
TEL: 86 (0)
546-8395037 / 8395260 FAX: 86 (0)
546-8395371
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 31, 2002
REGISTRATION NO. :
370000018078251
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH :
700
REGISTERED CAPITAL : CNY 152,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 2,491,570,000 (AS OF DEC.
31, 2010)
EQUITIES :
CNY 580,020,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE 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
CNY - China Yuan Renminbi
SC was registered as a shares limited company at Shandong
provincial Administration for Industry & Commerce (AIC - The official body
of issuing and renewing business license) on December 31, 2002.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The characteristics of the
shares limited co. are as follows: The establishment of the co.
requires at least five promoters and at least three of them must be PR-
China controlled legal persons. Natural person can not be allowed to serve
as promoters. The minimum registered capital
of a co. is CNY 10M. while that of the co. with foreign investment is CNY
30M. The total capital of a co. which propose to apply for publicly listed
must not less than CNY 50M. The board of directors must
consist of an odd number of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within three
years of the offer. Directors can not transfer the shares they hold in the
co. during their terms of office. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes researching, developing and technology services for new
technology, materials and products of petrochemicals. Manufacturing and selling
propylene epoxide, dichloropropane, propylene, liquefied petroleum gas, MTBE,
methyl-carbonate, diethyl carbonate, propylene carbonate, mineral spirits,
methyl ethyl carbonate, dimethylbenzene, benzene mixed, dead oil, mixed carbon
5, fuel oil, liquid hydrocarbon, BTX aromatics, ethylene and propylene glycol
(valid as of May 22, 2014).
SC is mainly
engaged in manufacturing and selling chemical products.
Mr. Guo Tianming
has been chairman and general manager of SC since 2009.
SC is known
to have approx. 700 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 Dongying. Our checks
reveal that SC owns the total premise about 330,000 square meters.
Note:
SC’s address is also known as No. 565, Shibei Second Road, Dongying
http://www.sinodmc.com
The design is professional and the content is well organized. At present the
web site is both in Chinese and English versions.
E-mail: ceo@sinodmc.com
Changes of its
registered information:
|
Date of change |
Items |
Before the change |
After the change |
|
|
Legal representative |
Ye Zhigang |
Du Shoukao |
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Registered Capital |
CNY 20,000,000 |
CNY 100,480,104 |
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|
Legal representative |
Du Shoukao |
Present one |
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Registered name |
Shandong Shida Shenghua Chemical Co., Ltd. |
Present one |
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Registered Capital |
CNY 100,480,104 |
Present amount |
|
Unknown |
Registration No. |
3700001807825 |
Present one |
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Shareholders |
Shandong Shtar Science & Technology
Group Co., Ltd. 24.85% Yingda International Trust & Investment Co., Ltd. 68.97% Dongying Ruifeng Petroleum Technology Co., Ltd. 1.00% Ye Zhigang0.50% Guo Tianming 0.95% Du Shoukao0.95% Huang Luwei0.62% Yu Haiming 0.63% Li Taojiang 0.65% Hu Baozhi 0.50% Hu Chengyang 0.38% |
Shandong Shtar Science & Technology
Group Co., Ltd. 29% Yingda International Trust & Investment Co., Ltd. 68.98% Dongying Ruifeng Petroleum Technology Co., Ltd. 1.00% Ye Zhigang0.10% Guo Tianming 0.19% Du Shoukao0.19% Huang Luwei 0.12% Yu Haiming 0.12% Li Taojiang 0.13% Hu Baozhi 0.10% Hu Chengyang 0.07% |
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Shareholders (Shareholding) |
Shandong Shtar Science & Technology
Group Co., Ltd. 29% Yingda International Trust & Investment Co., Ltd. 68.98% Dongying Ruifeng Petroleum Technology Co., Ltd. 1.00% Ye Zhigang0.10% Guo Tianming 0.19% Du Shoukao0.19% Huang Luwei 0.12% Yu Haiming 0.12% Li Taojiang 0.13% Hu Baozhi 0.10% Hu Chengyang 0.07% |
Present ones |
SC has got the certificate of ISO9001.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Dongying Ruifeng Petroleum Technology Co.,
Ltd. 0.66
Guo Tianming 1.07
Du Shoukao 1.07
Yu Haiming 0.86
Hu Chengyang 1.43
Qingdao Zhongshida Holding Co., Ltd. 40.96
Shanghai Purun Equity Investment Enterprise
(Limited Partnership) 7.96
Shanghai Fuxing Purun Equity Investment
Enterprise (Limited Partnership) 13.81
Shandong Jindayuan Group Co., Ltd. 4.61
Beijing Real Stone Scientific Development
Co., Ltd. 1.59
Other 71 individuals 25.98
Dongying Ruifeng Petroleum Technology Co.,
Ltd.
=====================================
Registration no.: 370500228000282
Tel: +86 (0) 546-8099919
Website: http://www.dyruifeng.cn
Email: ruifengpetroleum@163.com
Shandong Jindayuan Group Co., Ltd.
==========================
Registration no.: 370500200005514
Tel: 0546-7363068
Fax: 0546-7363068
Beijing Real Stone Scientific Development
Co., Ltd.
=======================================
Registration no.: 110108009273544
Legal representative: Chen Zheng
Tel: 010-82600075
l
Chairman and General Manager:
Mr. Guo Tianming , ID # 110108196408191875, born in 1964 with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2009 to present Working
in SC as chairman and general manager
*Officials:
=======
Name Title
Xu Guiming Director
Du Shoukao Director
Liu Wentian Supervisor
SC is mainly
engaged in manufacturing and selling chemical products.
SC’s products
mainly include: Propylene oxide, Propylene dichloride, Solvent oil products,
Liquefied gas, MTBE, Propylene, Dimethyl Carbonate, Diethyl carbonate, Ethyl
methyl carbonate, Propylene Carbonate, Ethylene carbonate, Propylene glycol.
SC sources its materials 100% from domestic market,
mainly Shandong. SC sells 70% of its products in domestic market, and 30% to
overseas market, mainly India.
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 refused to release its main
suppliers and customers.
According to
SC’s website:
Dongying
Zhongshida Industry and Trade Co., Ltd. (in Chinese pinyin)
Dongying
Shida Shenghua New Material Co., Ltd. (in Chinese pinyin)
Dongying
Defa Commerce and Trade Co., Ltd. (in Chinese pinyin)
Dongying
Haizhiyuan Oils Sale Co., Ltd. (in Chinese pinyin)
Dongying
Shida Hongyi Chemical Co., Ltd. (in Chinese pinyin)
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 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.
Dongying City Commercial Bank
AC#：4003300001956
Relationship:
Normal.
Financial
Information
Unit: CNY’000
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as of Dec. 31,
2010 |
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Long term
investment |
8,851 |
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Total
liabilities |
555,080 |
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Shareholders equities |
580,020 |
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Total Assets |
1,135,100 |
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Turnover |
2,491,570 |
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Profit before
tax |
114,540 |
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Net profit |
87,730 |
Note: SC’s detail
financial reports were not found at local AIC.
Important Ratios
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|
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as of Dec. 31,
2010 |
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*Liabilities
to assets |
0.49 |
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*Net profit
margin (%) |
3.52 |
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*Return on
total assets (%) |
7.73 |
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*Turnover/Total
assets |
2.20 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears good in its line.
l
SC’s net profit margin is average.
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: stable.
SC is considered medium-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.45 |
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Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.