MIRA INFORM REPORT
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Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
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Name : |
production base of hubei RESEARCH
institute of chemistry |
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Registered Office : |
Gedian
Development Zone, E’zhou, Hubei Province, 436070 Pr |
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Country : |
China |
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Date of Incorporation : |
10.09.1997 |
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Com. Reg. No.: |
420710000004452 |
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Legal Form : |
State-Owned Enterprise |
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Line of Business : |
Manufacturing and
Selling chemical products. |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 and address
production base of hubei RESEARCH institute of chemistry
gedian
development ZONE, e’zhou,
hubei
PROVINCE, 436070 PR CHINA
TEL:
86 (0) 711-3813787 FAX: 86 (0) 711-3811111
EXECUTIVE
SUMMARY
INCORPORATION
DATE : Sep. 10, 1997
REGISTRATION
NO. : 420710000004452
REGISTERED
LEGAL FORM : State-owned enterprise
CHIEF
EXECUTIVE : MR. liu
liangyan (general manager)
STAFF
STRENGTH : 90
REGISTERED
CAPITAL : CNY 8,000,000
BUSINESS
LINE :
manufacturing
TURNOVER :
N/A
EQUITIES : N/A
PAYMENT
: AVERAGE
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE : CNY 6.23 = 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
Note: The provided
address was the former one of Haiso Technology Co., Ltd.
SC was registered
as a state-owned enterprise at local Administration for Industry & Commerce
(AIC - The official body of issuing and renewing business license) on Sep. 10,
1997.
Company Status: State-owned enterprise This form of business in PR
China is defined as a commodity production or operational units of a
socialist character which in accordance with the law, have autonomy in
management, take full responsibility for its profits and losses and
practices independent business accounting. It is a legal person established
directly by central / local government or enterprise owned by central or
local government. In theory, the liabilities of this form of enterprise are
ultimately borne by the government, since the adoption of company law in
mid-1994, the Chinese government has planned to separate the ownership from
management and liabilities bearing.
SC’s registered
business scope includes researching chemical new materials, fine chemical
technology and products, manufacturing and selling coating, pigment and dyestuff,
industrial catalyst, clarifier, auxiliaries, additives, adhesive, fine chemical
products and raw materials, technology development, technology transfer,
technology service, technology consultation, exporting its products and
technology, importing materials, instrument, machinery and equipment, parts and
technology needed for its production, excluding the goods forbidden by the
government, processing with imported materials, processing with imported
samples, assemblying with imported parts, and compensation trade in agreement.
SC is mainly
engaged in manufacturing and selling chemical products.
Mr. Liu Liangyan
has been legal representative and general manager of SC since 1997.
SC is known to have
approx. 90 employees at present.
SC is currently
operating at the above stated address, and this address houses its operating
office and factory in the development zone of E’zhou. Our checks reveal that SC
owns the total premise about 5,000 square meters.
SC is not known to
host web site of its own at present.
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the
change |
|
2008 |
Registration No. |
4207031100059 |
4207101400006 |
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2008 |
Superior
Department |
Hubei Research
Institute of Chemistry |
Haiso Technology
Co., Ltd. |
|
Unknown |
Registration No. |
4207101400006 |
Present one |
SUPERIOR
DEPARTMENT:
Name
Haiso Technology
Co., Ltd.
Registered no.:
420000000032350
Legal form: shares
limited co.
Registered capital:
CNY 130,900,000
Date of
incorporation: Nov. 28, 2008
Legal
representative: Liu Liangyan
Add: No. 30 Guanggu
Street, Wuhan, Hubei, P.R. China 430074 (“No. 30 Guanggu Street” was formerly
named as “No. 30, Guanshan Road”)
Tel:
+86-27-87408382
Fax:
+86-27-87413514
E-mail: haiso@public.wh.hb.cn
Website: http://www.haiso.com.cn
Legal Representative & General Manager:
Mr. Liu Liangyan,
born in 1949, with university education. He is currently responsible for the
overall management of SC.
Working
Experience(s):
From 1997 to
present Working in SC as legal
representative and general manager
Also working in
Haiso Technology Co., Ltd. as legal representative and in Haiso Technology Co.,
Ltd. Gedian Branch as principal
SC is mainly engaged
in manufacturing and selling chemical products.
SC’s products
mainly include: N-Phenylmaleimide, N,N’-m-phenylene bismaleimide.
SC sources its
materials 100% from domestic market, mainly Hubei. SC sells 70% of its products
in domestic market, and 30% to overseas market, mainly Southeast Asian market.
The buying terms of
SC include Check, T/T and Credit of 30-60 days. The payment terms of SC include
T/T, L/C and Credit of 30-60 days.
Note: SC’s
management declined to release its customer and supplier details.
Haiso Technology
Co., Ltd. Gedian Branch
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.
SC’s management
declined to release its bank information.
SC’s management declined
to release its financial information.
SC is considered
medium-sized in its line with a development history of 15 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.84 |
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UK Pound |
1 |
Rs.89.11 |
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Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.