MIRA
INFORM REPORT
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Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI HUANGSHAN CAPSULE CO., LTD. |
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Registered Office : |
(Hongchuan) Queling Village, Jingde County, Xuancheng City Anhui Province 242605 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
342530000001338 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling hollow capsule |
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No. of Employees : |
545 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
ANHUI HUANGSHAN CAPSULE CO., LTD.
(HONGCHUAN) QUELING
village, JINGDE COUNTY, XUANCHENG CITY
ANHUI PROVINCE 242605 PR CHINA
TEL: 86 (0) 563-8630268/8630702
FAX: 86 (0) 563-8630198
EXECUTIVE SUMMARY
Date of Registration : JANUARY 1, 1996
REGISTRATION NO. : 342530000001338
LEGAL FORM : Shares limited company
REGISTERED CAPITAL : CNY 65,000,000
staff :
545
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 92,540,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 151,680,000 (AS OF DEC. 31, 2011)
WEBSITE : www.hsjn.com
E-MAIL :
hsjn@hi2000.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : STEADY
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 on
January 1, 1996. However,
SC changed to present legal form, and was registered as shares limited company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 342530000001338 in
December of 2010.
SC’s Organization Code Certificate No.:
15350006-5
SC’s registered capital: cny 65,000,000
SC’s paid-in capital: cny 65,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Registered Capital |
CNY 650,000 |
CNY 20,000,000 |
|
Shareholder (s) (% of Shareholding) |
Jingde County State-owned Assets Administration Bureau 4.62% Yu Chunming 49.23% Hu Jianfei 1.54% Zhang Xingde 3.08% Chen Shuijin 3.08% Zhang Huaicheng 1.69% Wang Hongshi 3.08% Wang Xiangsheng 1.54% Other Shareholders 32.14% |
Yu Chunming 54.16% Hu Jianfei 7.50% Zhang Xingde 7.50% Chen Shuijin 8.34% Zhang Huaicheng 7.50% Wang Hongshi 7.50% Wang Xiangsheng 7.50% |
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|
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Registered Capital |
CNY 20,000,000 |
CNY 62,800,000 |
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Shareholder (s) (% of Shareholding) |
Yu Chunming 54.16% Hu Jianfei 7.50% Zhang Xingde 7.50% Chen Shuijin 8.34% Zhang Huaicheng 7.50% Wang Hongshi 7.50% Wang Xiangsheng 7.50% |
Yu Chunming 54.17% Hu Jianfei 7.50%
Zhang Xiande 7.50% Zhang Huaicheng 7.50%
Wang Hongshi 7.50% Yu Chaobiao 8.33% Ye Songlin 7.50% |
|
|
2010-12 |
Registered Capital |
CNY 62,800,000 |
CNY 65,000,000 |
|
Shareholder (s) (% of Shareholding) |
Yu Chunming 54.17%
Hu Jianfei 7.50%
Zhang Xiande 7.50% Zhang Huaicheng 7.50%
Wang Hongshi 7.50% Yu Chaobiao 8.33% Ye Songlin 7.50% |
Yu Chunming 54.08%
Hu Jianfei 1.54%
Zhang Xiande 1.54% Zhang Huaicheng 0.85% Wang Hongshi 1.23% Yu Chaobiao 4.62% Ye Songlin 0.77% Yu Chunlu 4.30% Chen Shuijing 3.07% Other 69 Shareholders 28% |
|
|
Legal Form |
Limited liabilities company |
Shares limited company |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Yu Chunming |
54.08 |
|
Hu Jianfei |
1.54 |
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Zhang Xiande |
1.54 |
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Zhang Huaicheng |
0.85 |
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Wang Hongshi |
1.23 |
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Yu Chaobiao |
4.62 |
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Ye Songlin |
0.77 |
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Yu Chunlu |
4.30 |
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Chen Shuijing |
3.07 |
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Other 69 Shareholders |
28.00 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Yu Chunming |
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Directors |
Hu Jianfei |
|
Zhang Xiande |
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Zhang Huaicheng |
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Wang Hongshi |
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Yu Chaobiao |
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Ye Songlin |
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Yu Chunlu |
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|
Chen Shuijing |
RECENT DEVELOPMENT
Honors:
======
l
SC passed ISO90001 quality management system authentification.
l
SC is conferred AAA Class Credit Certificate issued
by China Construction Bank Anhui Branch!
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Yu Chunming 54.08
Hu Jianfei 1.54
Zhang Xiande 1.54
Zhang Huaicheng 0.85
Wang Hongshi 1.23
Yu Chaobiao 4.62
Ye Songlin 0.77
Yu Chunlu 4.30
Chen Shuijing 3.07
Other 69 Shareholders 28.00
MANAGEMENT
Yu Chunming ,
Legal Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 342722194606120010
Ø
Age: 65
Ø
Qualification:
University
Ø
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Directors
-------------
Hu Jianfei
Zhang Xiande
Zhang Huaicheng
Wang Hongshi
Yu Chaobiao
Ye Songlin
Yu Chunlu
Chen Shuijing
Etc.
Wang Hongshi , CFO
--------------------------------------
Ø
Gender: F
Ø
Tel: 86 (0) 563-8630850
Ye Songlin , Sales
Manager
----------------------------------------------
Ø
Gender: M
Ø
Tel: 86 (0) 563-8630268/8630028
Ø
Mobile Tel: 86 (0) 13515638309
Ø
Fax: 86 (0) 563-8630198
BUSINESS OPERATION
SC’s registered business scope includes manufacturing, selling hollow capsule, export
of medicinal hollow capsule, import of raw and auxiliary materials, mechanical
equipment, instruments and spare parts.
SC is mainly
engaged in manufacturing and selling hollow
capsule.
SC’s products
mainly include:
Gelatine
empty capsule
Enteric
gelatine empty capsule
Colon
soluble gelatin empty capsule
Plant
empty capsule
Plant
colon soluble empty capsule
SC sources its materials 100% from domestic market. SC sells its products 10% to overseas market, and 90% in domestic market.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 545 staff at
present.
SC owns an area as
its operating office & factory of approx. 60,000 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:
Industrial and
Commercial Bank of China Jingde County Sub-branch
AC#112903482381
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
15,740 |
29,230 |
|
|
Accounts
receivable |
18,780 |
23,200 |
|
Advances to
suppliers |
0 |
0 |
|
Other receivable |
28,960 |
18,340 |
|
Inventory |
23,790 |
28,460 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
-40 |
18,090 |
|
|
------------------ |
------------------ |
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Current assets |
87,230 |
117,320 |
|
Fixed assets |
24,050 |
25,080 |
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Construction in
progress |
40,490 |
44,450 |
|
Intangible
assets |
0 |
0 |
|
Long-term
investment |
11,090 |
1,500 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
2,080 |
4,580 |
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|
------------------ |
------------------ |
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Total assets |
164,940 |
192,930 |
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|
============= |
============= |
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Short-term loans |
19,000 |
16,000 |
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Notes payable |
0 |
0 |
|
Accounts payable |
12,580 |
7,270 |
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Wages payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Other payable |
6,140 |
8,880 |
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Other current
liabilities |
8,660 |
9,100 |
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------------------ |
------------------ |
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Current
liabilities |
46,380 |
41,250 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
46,380 |
41,250 |
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Equities |
118,560 |
151,680 |
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------------------ |
------------------ |
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Total
liabilities & equities |
164,940 |
192,930 |
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============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
|
Revenue |
144,590 |
92,540 |
|
Cost of sales |
79,220 |
46,880 |
|
Sales expense |
22,470 |
19,720 |
|
Management expense |
15,050 |
7,810 |
|
Finance expense |
1,460 |
570 |
|
Profit before
tax |
24,670 |
17,510 |
|
Less: profit tax |
4,140 |
2,630 |
|
20,530 |
14,880 |
Important Ratios
=============
|
|
As of Dec. 31, 2010 |
As of Dec. 31, 2011 |
|
*Current ratio |
1.88 |
2.84 |
|
*Quick ratio |
1.37 |
2.15 |
|
*Liabilities
to assets |
0.28 |
0.21 |
|
*Net profit
margin (%) |
14.20 |
16.08 |
|
*Return on
total assets (%) |
12.45 |
7.71 |
|
*Inventory /
Revenue ×365 |
61 days |
113 days |
|
*Accounts
receivable/ Revenue ×365 |
48 days |
92 days |
|
*
Revenue/Total assets |
0.88 |
0.48 |
|
* Cost of
sales / Revenue |
0.55 |
0.51 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good in its line,
and it decreased in 2011.
l
SC’s net profit margin is fairly good in both
years.
l
SC’s return on total assets is fairly good in both
years.
l
SC’s cost of goods sold is average, comparing with
its revenue.
LIQUIDITY: FAIRLY
GOOD
l
The current ratio of SC is maintained in a fairly
good level in both years.
l
SC’s quick ratio is maintained in a fairly good
level in both years.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC appears average.
l
SC’s short-term loan is in an average level.
l
SC’s revenue is in a fair level, comparing with the
size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.64 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.68.81 |
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 |
|
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.