MIRA
INFORM REPORT
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Report Date : |
06.12.2012 |
IDENTIFICATION DETAILS
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Name : |
YANTAI ANDRE PECTIN CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
25.09.2003 |
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Com. Reg. No.: |
370600400009844 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
manufacturing and selling pectin & pectin products |
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No. of Employees : |
311 employees |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
china - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.
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Source : CIA |
Company name & address
YANTAI ANDRE PECTIN CO., LTD.
no. 889 xincheng street, muping development zone
yantai, shandong province 264100 PR CHINA
TEL: 86 (0) 535-4282072/4213299
FAX: 86 (0) 535-4288889
EXECUTIVE SUMMARY
Date of Registration : september 25, 2003
REGISTRATION NO. : 370600400009844
LEGAL FORM : Shares limited company
REGISTERED CAPITAL :
CNY 175,000,000
staff : 311
BUSINESS CATEGORY : manufacturing
Revenue : CNY 102,683,000 (FROM JAN. 1, 2012 TO JUN. 30, 2012)
EQUITIES : CNY 329,962,000 (AS OF JUN. 30, 2012)
WEBSITE : www.andrepectin.com
E-MAIL :
roseshan@andrepectin.com
& claudia.wan@andrepectin.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND
: fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.23 = 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
LEGAL STATUS & HISTORY
***Note: SC refused to release the detailed
information, which is from local SAIC.
Claudia Wan (the contact person) is the staff of
SC.
SC was
established as a Chinese-foreign equity joint venture enterprise of PRC on
September 25, 2003. However, SC
changed to present legal form, and was registered as a shares limited company
of PRC with State Administration for Industry & Commerce (SAIC) under
registration No.: 370600400009844
on March 25, 2011.
SC’s Organization Code Certificate
No.: 75353113-X
SC’s Tax No.: 37061275353113X
SC’s registered capital: CNY 175,000,000
SC’s paid-in capital: CNY 175,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
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Shareholder (s) (% of Shareholding) |
Yantai North Andre Juice Co., Ltd. 75% Andre Corporation (U.S.A.) 25% |
Andre Juice Ltd. (B.V.I.) B.V.I. 66.7% Fubang Investment Ltd. 33.3% |
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|
-- |
Registered Capital |
USD 12,000,000 |
USD 20,000,000 |
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Shareholder (s) (% of Shareholding) |
Andre Juice Ltd. (B.V.I.) B.V.I. 66.7% Fubang Investment Ltd. 33.3% |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Baite Venture Ltd. 35% |
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Shareholder (s)
(% of Shareholding) |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Baite Venture Ltd. 35% |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Baite Venture Ltd. 10% Shandong Andre Group Co., Ltd. 25% |
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Shareholder (s)
(% of Shareholding) |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Baite Venture Ltd. 10% Shandong Andre Group Co., Ltd. 25% |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Shandong Andre Group Co., Ltd. 30% Yantai Anlin Fruit Industry Co., Ltd. 5% |
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2009-11-11 |
Shareholder (s)
(% of Shareholding) |
Andre Juice Ltd. (B.V.I.) B.V.I. 40% Fubang Investment Ltd. 25% Shandong Andre Group Co., Ltd. 30% Yantai Anlin Fruit Industry Co., Ltd. 5% |
Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Fubang Investment Ltd. 35% Yantai Anlin Fruit Industry Co., Ltd. 5% |
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Shareholder (s)
(% of Shareholding) |
Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Fubang Investment Ltd. 35% Yantai Anlin Fruit Industry Co., Ltd. 5% |
Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Fubang Investment Ltd. 25% Yantai Anlin Fruit Industry Co., Ltd. 5% Mengyu Industry Ltd. (Singapore) 10% |
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Shareholder (s) (% of Shareholding) |
Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Fubang Investment Ltd. 25% Yantai Anlin Fruit Industry Co., Ltd. 5% Mengyu Industry Ltd. (Singapore) 10% |
Tianjin Hong’an Equity Investment Fund Management
Partnership Enterprise 10% Fuquan Holding Co., Ltd. 10% Baoyi Investment Co., Ltd. 5% Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Yantai Anlin Fruit Industry Co., Ltd. 5% Mengyu Industry Ltd. (Singapore) 10% |
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-- |
Registered Capital |
USD 20,000,000 |
USD 21,111,111 |
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Shareholder (s) (% of Shareholding) |
Tianjin Hong’an Equity Investment Fund Management
Partnership Enterprise 10% Fuquan Holding Co., Ltd. 10% Baoyi Investment Co., Ltd. 5% Yantai North Andre Juice Co., Ltd. 20% Shandong Andre Group Co., Ltd. 40% Yantai Anlin Fruit Industry Co., Ltd. 5% Mengyu Industry Ltd. (Singapore) 10% |
Shandong Andre Group Co., Ltd. 37.9% Yantai North Andre Juice Co., Ltd. 18.95% Yantai Anlin Fruit Industry Co., Ltd. 4.74% Mengyu Industry Ltd. (Singapore) 9.47% Tianjin Hong’an Equity Investment Fund Management
Partnership Enterprise 9.47% Fuquan Holding Co., Ltd. 9.47% Baoyi Investment Co., Ltd. 10% |
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2010-12 |
Registered Capital |
USD 21,111,111 |
CNY 175,000,000 |
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Company Chinese Name |
烟台安德利果胶有限公司 |
烟台安德利果胶股份有限公司 |
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Legal Form |
Chinese-Foreign Equity Joint Venture Enterprise |
Shares Limited Company |
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Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Shandong Andre
Group Co., Ltd. |
37.9 |
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Yantai North
Andre Juice Co., Ltd. |
18.95 |
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Yantai Anlin
Fruit Industry Co., Ltd. |
4.74 |
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Mengyu Industry
Ltd. (Singapore) |
9.47 |
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Tianjin Hong’an Equity
Investment Fund Management Partnership Enterprise |
9.47 |
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Fuquan Holding
Co., Ltd. |
9.47 |
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Baoyi Investment
Co., Ltd. |
10 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Wang
An |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Shandong Andre Group Co., Ltd. 37.9
Yantai North Andre Juice Co.,
Ltd. 18.95
Yantai Anlin Fruit Industry Co.,
Ltd. 4.74
Mengyu Industry Ltd. (Singapore) 9.47
Tianjin Hong’an Equity
Investment Fund
Management Partnership
Enterprise 9.47
Fuquan Holding Co., Ltd. 9.47
Baoyi Investment Co., Ltd. 10
u
Shandong Andre Group Co., Ltd.
---------------------------------------------
Registration No.: 370612228009994
Date of Registration: February 18, 2003
Registered Capital: CNY 400,000,000
Legal Representative: Wang An
u
Yantai North Andre Juice Co., Ltd.
-----------------------------------------------
Registration No.: 370000400000722
Date of Registration: March 30, 1996
Legal Representative: Wang An
Yantai North Andre Juice Co. Ltd. was
established in 1996，which mainly manufactures Juice Concentrate, Puree
Preserved Fruit, Essence, and Pectin Products. The company has the world first
class quality test and control system and passed so many international
certificates as ISO9001, HACCP, SGF, KOSHER, HALAL and FPA.
Headquarter Office Address: No. 888 Xincheng
Street, Muping Economic Development Zone, Yantai, Shandong
P.C: 264100
Web: www.andre.com.cn
u
Yantai Anlin Fruit Industry Co., Ltd.
-------------------------------------------------
Registration No.: 370600400009730
MANAGEMENT
Wang
An, Legal
Representative, Chairman and General Manager
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Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman and general manager
Also working in Shandong Andre
Group Co., Ltd. and Yantai North Andre Juice Co., Ltd. as legal representative
Mr. Wang An, one of Top 10 Outstanding Youth Entrepreneurs of Shandong Province, NPC Member of Shandong Province and the medalist of National May Day Labor Medal.
BUSINESS OPERATION
SC’s registered
business scope includes manufacturing pectin, pectin products, metal packaging
products, other packaging products, fruit juices, fruit pulp, fruit powder, and
fruit products; selling the above products; wholesaling and retailing fruit
juice beverages, solid beverage, candy, and healthy food.
SC is mainly
engaged in manufacturing and selling pectin & pectin products.
SC’s products mainly include: pectin &
pectin products.
SC sources its materials 60% from domestic
market, and 40% from overseas market. SC sells 10% of its products in domestic
market, and 90% to overseas market, mainly U.S.A., Europe, Southeast Asia, etc.
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 Suppliers*
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Andre Juice
Huiyuan Juice
***Note: SC
refused to release its suppliers, and according to the internet source, we
found the above suppliers.
Staff & Office:
--------------------------
SC is
known to have approx. 311
staff at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is known to have a
subsidiary at present,
------------------------------------
Anyue
Andre Lemon Co., Ltd.
Related Companies,
------------------------
l Yantai Andre Real Estate Development Co., Ltd.
l Yantai Yangmadao Andre Holiday Resort Co., Ltd.
l Yantai Kunlong Hot Spring Co., Ltd.
Etc.
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’s suppliers
refused to make any comments.
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 local SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
As
of Jun. 30, 2012 |
|
Total assets |
426,559 |
585,551 |
680,126 |
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------------- |
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Total
liabilities |
160,643 |
266,411 |
350,164 |
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Equities |
265,916 |
319,140 |
329,962 |
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------------- |
------------- |
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As of Dec. 31,
2010 |
s of Dec. 31,
2011 |
From Jan. 1, 2012 to Jun. 30, 2012 |
|
Revenue |
169,682 |
209,363 |
102,683 |
|
Profits |
42,306 |
53,224 |
10,822 |
Note: The detailed financials of SC are not available in SAIC.
Important Ratios
|
|
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
As
of Jun. 30, 2012 |
|
*Liabilities to
assets |
0.38 |
0.45 |
0.51 |
|
*Net profit
margin (%) |
24.93 |
25.42 |
10.54 |
|
*Return on
total assets (%) |
9.92 |
9.09 |
1.59 |
|
*
Revenue/Total assets |
0.40 |
0.36 |
0.15 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is good.
l
SC’s return on total assets is fairly good.
LIQUIDITY:
FAIR
l
SC’s revenue is in a
fair 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: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.57 |
|
UK Pound |
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.