MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

HEBEI FUDE CHEMICAL TECHNOLOGY CO., LTD.

 

 

Registered Office :

New Chemical Park, Handan, Hebei Province, 057750 Pr

 

 

Country :

China

 

 

Date of Incorporation :

11.11.2008

 

 

Com. Reg. No.:

130433000003088

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

Manufacturing and selling chemical products

 

 

No. of Employees :

200

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

HEBEI FUDE CHEMICAL TECHNOLOGY CO., LTD.

NEW CHEMICAL PARK, HANDAN, HEBEI PROVINCE, 057750 PR CHINA

TEL: 86 (0) 310-2865885/2865886/2865986   FAX: 86 (0) 310-2865985

 

 

EXECUTIVE SUMMARY

 

INCORPORATION DATE            : NOV. 11, 2008

REGISTRATION NO.                  : 130433000003088

REGISTERED LEGAL FORM     : LIMITED LIABILITIES COMPANY

CHIEF EXECUTIVE                    : MS. WANG JUAN (CHAIRMAN)

STAFF STRENGTH                    : 200

REGISTERED CAPITAL             : CNY 3,000,000

BUSINESS LINE                        : MANUFACTURING

TURNOVER                              : N/A

EQUITIES                                 : N/A

PAYMENT                                : AVERAGE

MARKET CONDITION                : AVERAGE

FINANCIAL CONDITION             : N/A

OPERATIONAL TREND              : FAIRLY STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.36= 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

 

 

 

 

Rounded Rectangle: HISTORY 

 

 


SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Nov. 11, 2008.

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 pivaloyl chloride, dimethyl propionic acid, chloro-dimethyl-propionyl chloride, dicalcium phosphate R & D, manufacturing, sales; selling other chemical products (excluding the chemical product limited by the country); exporting self-made products and technology, and importing self-needed machinery and equipment, spare parts, raw and supplementary materials, technology (excluding the goods and technology prohibited or limited by the country).

 

SC is mainly engaged in manufacturing and selling chemical products.

Ms. Wang Juan  is the legal representative, chairman and general manager of SC at present.

 

SC is known to have approx. 200 employees at present.

 

SC is currently operating at the above stated address, and this address houses its operating office and factory in the new chemical park of Handan. SC’s management declined to release detailed information of the premise.

 

Rounded Rectangle: WEB SITE 

 


http://www.hangangchem.com/ the design is professional and the content is well organized. At present it is in Chinese and English versions.

 

 

Rounded Rectangle: KEY EVENTS/RECENT DEVELOPMENT 

 

 


Certificates:

 

 

No significant changes were found during our checks with the local Administration for Industry and Commerce.

 

 

Rounded Rectangle: OWNERSHIP/MANAGEMENT BACKGROUND 

 

 


MAIN SHAREHOLDERS:

 
Name                                                                                                               % of Shareholding

 

Wang Juan                                                                                                                   85

Liu Dexian                                                                                                                   15

 

 

Rounded Rectangle: MANAGEMENT 

 

 


l         Legal representative, Chairman and General manager:

 

Ms. Wang Juan is currently responsible for the overall management of SC.

 

Working Experience(s):

 

At present                     Working in SC as legal representative, chairman and general manager

Supervisor:

……………

Liu Dexian

 

 

Rounded Rectangle: BUSINESS OPERATIONS BACKGROUND  

 

 


SC is mainly engaged in manufacturing and selling chemical products.

SC’s products mainly include pivalic acid, pivaloyl chloride, 3-Chloropivaloyl chloride, dicalcium phosphate, 2-Chlorobenzyl chloride, etc.

 

SC sources its materials 100% from domestic market. SC sells 60% of its products in domestic market and 40% to overseas 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.

 

Note: SC’s management declined to release its major clients and suppliers.

 

 

Rounded Rectangle: RELATED COMPANIES BACKGROUND  

 

 


SC is not known to have any subsidiary at present.

 

Rounded Rectangle: PAYMENT BACKGROUND  

 

 


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.

 

 

Rounded Rectangle: BANKING BACKGROUND  

 

 


SC’s management declined to release its banking information.

 

 

Rounded Rectangle: FINANCIAL HIGHLIGHTS BACKGROUND  

 

 


SC’s financial reports were not found during our checks with the local Administration for Industry and Commerce.

SC’s management declined to release any financial information.

 

 

Rounded Rectangle: REMARKS BACKGROUND  

 

 

SC is considered medium-sized in its line with 4 years development history. Credit dealings with SC should be confined into small amount at present.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.54

Euro

1

Rs.68.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.