MIRA INFORM REPORT
|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
Zhejiang AMP Orient
IMP. & EXP Co., Ltd. |
|
|
|
|
Registered Office : |
Room 1802, Zhejiang Amp Building, No. 199, Tai’an Road, Binjiang District,
Hangzhou City, Zhejiang Province, 310051 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
09.09.2002 |
|
|
|
|
Com. Reg. No.: |
330000000010715 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Wholesaling of Chlorodifluormethane |
|
|
|
|
No. of Employees : |
12 |
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 : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
Company
name and address
Zhejiang AMP Orient IMP. & EXP Co., Ltd.
Room 1802, Zhejiang Amp Building, No. 199,
Tai’an Road, Binjiang District, Hangzhou City, Zhejiang Province, 310051 PR
CHINA
TEL: 86 (0) 571-87661917/87661983 FAX: 86 (0) 571-87661904
EXECUTIVE
SUMMARY
INCORPORATION DATE : SEP. 9, 2002
REGISTRATION NO. : 330000000010715
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. FANG JIANHUA (CHAIRMAN)
STAFF STRENGTH :
12
REGISTERED CAPITAL : CNY 7,500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 159,650,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 11,720,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
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
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 Sep. 9, 2002.
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 wholesaling of
chlorodifluormethane. Selling of general merchandise, clothing, knitwear and
textiles, handicrafts, stationery, hardware, electrical and mechanical
equipment, motorcycles and accessories, scooter, timber, building materials,
plastic products, and technical advisory services, import and export business
(range should according to “Import and Export enterprise Qualification
Certificate of People's Republic of China”
SC is mainly engaged in international trade.
Mr. Fang Jianhua is legal representative and chairman of SC at present.
SC is known to have approx. 12 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Hangzhou. SC’s accountant
Ms. Zhu refused to release the detailed information of the premise.
http://www.zjamporient.com/
The design is professional and the content is well organized. At present it is
only in English version.
E-mail: sales@zjampor.com
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2012-7 |
Registered Capital |
CNY 7,000,000 |
Present amount |
|
Shareholdings & shareholders |
Zhejiang AMP Incorporation 浙江农资集团有限公司51% Chen Hao陈皓20.72% Wu Lei 吴蕾6.79% Cai Yangfeng 蔡阳峰5.71% Chen Yijuan 陈义娟3.93% Chen Jing 陈静3.21% Xu Shujun 徐淑珺3% Fang Jianhua 方建华3% Hu Guoxiu 胡国修2.21% Wu Changjia 吴长佳0.43% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhejiang AMP Incorporation 51
Chen Hao 22.4
Wu Lei 7
Cai Yangfeng 5.33
Chen Yijuan 4.07
Xu Shujun 3.47
Fang Jianhua 3
Hu Guoxiu 2.67
Wu Changjia 0.66
Zhang Xusheng 0.4
Zhejiang AMP
Incorporation
======================
Registration No.: 330000000005296
Incorporation Date:
Chairman: Zheng Jun
Registered Capital: CNY 650,900,000
Tel.: 0571-87661111
Fax: 0571-87661900
E-mail: amp@zjamp.com
Add.: No. 199, Tai’An Road, Binjiang District, Hangzhou City, Zhejiang
Province
Legal Representative and Chairman:
Mr. Fang Jianhua, in his
Working Experience(s):
At present Working in SC as
legal representative and chairman.
Also working in Zhejiang AMP Globe Imp. & Exp Co., Ltd. as legal
representative.
General manager:
Mr. Chen Hao, in his
Working Experience(s):
At present Working
in SC as general manager.
SC is mainly engaged in international trade.
SC’s products mainly include: electronic product, costume, and body building apparatus, etc.
SC sources its materials 95% from domestic market and 5% from overseas market.
SC sells 100% of its products to 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.
Note: SC’s
management declined to release its major clients and suppliers.
Zhejiang Jintai Agri-chemical Co., Ltd.
=========================
Registration No.: 330000000027062
Incorporation Date:
Chairman: Wang Ziqiang
Registered Capital: CNY 25,000,000
Web: http://www.jtnz.cn
Tel.: 0571-87661133
Fax: 0571-87661259
Zhejiang Jinchang Automobile Incorporation
================================
Registration No.: 330000000000329
Incorporation Date:
Chairman: Li Shengliang
Registered Capital: CNY 100,000,000
Web: http://www.jcqc.cn
Tel.: 0571-88291359/88293028
Fax: 0571-88290179
Zhejiang AMP Globe Imp. & Exp Co., Ltd.
===============================
Registration No.: 330000000014517
Incorporation Date:
Chairman: Fang Jianhua
Registered Capital: CNY 14,000,000
Tel.: 0571-87661518
Fax: 0571-87661530
Etc.
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 declined to release its bank details.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2011 |
|
Cash & bank |
9,220 |
|
Inventory |
4,070 |
|
Accounts receivable |
6,970 |
|
Advances to suppliers |
12,480 |
|
Other receivables |
11,960 |
|
Dividends receivable |
0 |
|
Other current assets |
20 |
|
|
------------------ |
|
Current assets |
44,720 |
|
Fixed assets net value |
230 |
|
Projects under construction |
0 |
|
Long term investment |
0 |
|
Intangible assets |
0 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
44,950 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
24,310 |
|
Other accounts payable |
2,980 |
|
Notes payable |
0 |
|
Taxes payable |
740 |
|
Advances from clients |
4,520 |
|
Accrued payroll |
680 |
|
Dividends payable |
0 |
|
Other payable |
0 |
|
Other current liabilities |
0 |
|
|
------------------ |
|
Current liabilities |
33,230 |
|
Long term liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
33,230 |
|
Equities |
11,720 |
|
|
------------------ |
|
Total liabilities & equities |
44,950 |
|
|
============= |
Income Statement
Unit: CNY’000
|
|
as
of Dec. 31, 2011 |
|
Turnover |
159,650 |
|
Cost of goods sold |
149,170 |
|
Taxes and additional of main operation |
10 |
|
Sales expense |
7,290 |
|
Management expense |
540 |
|
Finance expense |
-260 |
|
Non-operating income |
510 |
|
Non-operating expense |
30 |
|
Profit before tax |
3,380 |
|
Less: profit tax |
860 |
|
Profits |
2,520 |
Important
Ratios
=============
|
|
as
of Dec. 31, 2011 |
|
*Current ratio |
1.35 |
|
*Quick ratio |
1.22 |
|
*Liabilities to assets |
0.74 |
|
*Net profit margin (%) |
1.58 |
|
*Return on total assets (%) |
5.61 |
|
*Inventory /Turnover ×365 |
10 days |
|
*Accounts receivable/Turnover ×365 |
16 days |
|
*Turnover/Total assets |
3.55 |
|
* Cost of goods sold/Turnover |
0.93 |
PROFITABILITY:
FAIRLY GOOD
The turnover of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is fairly good.
SC’s cost of goods sold is fairly high, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is normal.
SC’s quick ratio is maintained in a normal level.
SC’s inventory is average in 2011.
The accounts receivable of SC is average in 2011
SC has no short-term loan in 2011.
SC’s turnover is fairly good, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
SC is considered small-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
UK Pound |
1 |
Rs.89.11 |
|
Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.