MIRA
INFORM REPORT
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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING HENGJU CHEMICAL GROUP CORPORATION |
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Registered Office : |
Beijing Hengju Chemical Group
Corporation, Huoxian Industrial
Development Zone, Tongzhou District,
Beijing 101109 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.05.1999 |
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Com. Reg. No.: |
110000000348558 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in manufacturing and selling different kinds of
chemicals |
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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 : |
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) |
|
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
BEIJING HENGJU
CHEMICAL GROUP CORPORATION
HUOXIAN
INDUSTRIAL DEVELOPMENT ZONE
TONGZHOU
DISTRICT, BEIJING 101109 PR CHINA
TEL: 86
(0) 10-80589588/80585577
FAX: 86
(0) 10-80587077/80587711
EXECUTIVE SUMMARY
Date of Registration : MAY 13, 1999
REGISTRATION NO. : 110000000348558
LEGAL FORM :
Limited liabilities company
REGISTERED CAPITAL : CNY 80,000,000
staff : 545
BUSINESS CATEGORY : manufacturing
Revenue : CNY 277,350,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 783,245,000 (AS OF
DEC. 31, 2011)
WEBSITE : www.hengju.com.cn
E-MAIL : info@hengju.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.36 = USD
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 with State Administration
of Industry & Commerce (SAIC) under registration No.: 110000000348558 on
May 13, 1999.
SC’s Organization Code Certificate
No.: 10238622-3
SC’s registered capital: CNY 80,000,000
SC’s paid-in capital: CNY 80,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1100002034855 |
110000000348558 |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Li Fengzhu |
50 |
|
Guo Wenli |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Guo
Wenli |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Li Fengzhu
50
Guo Wenli
50
MANAGEMENT
Guo
Wenli, Legal
Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 74
Ø
ID# 230102381101281
Ø
Qualification: University
Ø
Working experience (s):
From 1999 to present, working in SC as legal
representative, chairman and general manager
BUSINESS OPERATION
SC’s
registered business scope includes manufacturing and selling of PAM, oil field
chemicals, biochemical products;
importing and exporting various goods and technologies, excluding the good
prohibited or limited by the country
SC is
mainly engaged in manufacturing and selling different kinds of chemicals.
Brand:
HENGFLOC
SC’s
products mainly include: anionic powders, cationic powders, non-ionic powders,
amphoteric powders, polydadmac cogulants, polyamine coagulants, dicyandiamide
type decolourants, acrylamide.
SC sources its materials 40% from domestic market, and 60% from overseas market. SC sells 80% of its products in domestic market and 20% in 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 Check, T/T, L/C and Credit of 30-60
days.
*Major Customers:
==============
Polytec
Inc.
Amber
Chemical Inc.
Harvest
Operations Corp.
Staff & Office:
--------------------------
SC is
known to have approx. 545
staff at present.
SC
owns an area as its operating office & factory of approx. 71,900 sq. meters
at the heading address.
RELATED COMPANY
SC is known to
have 10 subsidiaries at present,
Beijing Hengju Wuzhou Petroleum Technology Development Co., Ltd.
Beijing Hengju Shuixing
Water Supplies Technology Co., Ltd.
Beijing Hengju Dingxin Machinery Manufacturing Co., Ltd.
Shanghai Hengli Chemical Co., Ltd.
Henan Hengju Chemical Co., Ltd.
Henan Hengju New Energy Equipment Co., Ltd.
Taicang Hengyi Chemical Co., Ltd.
Henan Hengju Haohai International Trade Co., Ltd.
Beijing Hengju Canada Ltd.
Beijing Hengju UK Ltd.
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
The
bank information of SC is not filed in SAIC.
FINANCIALS
Financial
Summary
|
Unit:
CNY’000 |
As of Dec. 31, 2011 |
|
Long term investment |
173,677 |
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Total
assets |
982,294 |
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------------- |
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Long term liabilities |
81,535 |
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Total
liabilities |
199,049 |
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Equities |
783,245 |
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------------- |
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Revenue |
277,350 |
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Profit
before tax |
2,733 |
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Less:
profit tax |
410 |
|
Profits |
2,323 |
Note: The detailed financials for Y2011 are not available in
SAIC.
Important
Ratios
=============
|
|
As of Dec. 31, 2011 |
|
*Liabilities
to assets |
0.20 |
|
*Net
profit margin (%) |
0.84 |
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*Return
on total assets (%) |
0.24 |
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*
Revenue/Total assets |
0.28 |
FINANCIAL COMMENTS
PROFITABILITY:
AVEARGE
l
The revenue of SC appears fairly good
in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LIQUIDITY:
AVEAGE
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: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable
financial conditions. A credit line up to USD 6,000,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.