MIRA
INFORM REPORT
|
Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
shaanxi
rock new materials co., ltd |
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Registered Office : |
no. 18 Baotai Road, Xiamaying, Weibin District, Baoji
City, Shaanxi Province 721013 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
26.08.2003 |
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Com. Reg. No.: |
610301100001765 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing, Processing and Selling Chemical Products, Metal
Materials and Equipment |
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|
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No. of Employees : |
130 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,000,000 |
|
Status : |
Satisfactory |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
shaanxi rock new materials co.,
ltd.
no. 18
baotai road, xiamaying, weibin district, baoji city
shaanxi
province 721013 PR CHINA
TEL: 86
(0) 917-3380777/3380368
FAX: 86
(0) 917-3380388
EXECUTIVE SUMMARY
Date of Registration : august 26, 2003
REGISTRATION NO. : 610301100001765
LEGAL FORM : Shares limited company
REGISTERED CAPITAL :
CNY 40,200,000
staff : 130
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 175,100,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 86,230,000 (AS OF
DEC. 31, 2011)
WEBSITE : www.bjrock.com
E-MAIL :
bjrock@163.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
1,000,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRly good
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = 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 shares limited company of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 610301100001765 on august
26, 2003.
SC’s Organization Code Certificate
No.: 75214317-8
SC’s registered capital: cny 38,100,000
SC’s paid-in capital: cny 38,100,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
2011 |
Registered capital |
CNY 38,100,000 |
CNY 40,200,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Hunan Tianchen Venture Capital
Co., Ltd. |
2.00 |
|
Huang Hong |
3.03 |
|
Ju Conghui |
3.03 |
|
Liao Qingyu |
11.72 |
|
Zhou Shuyan |
3.03 |
|
Cai Lin |
39.81 |
|
Cai Wanyu |
28.43 |
|
Xu Huafu |
0.50 |
|
Li Bingkuan |
0.30 |
|
Liu Zhenxing |
0.19 |
|
Zhu Zhenhua |
4.74 |
|
Zhao Guiting |
3.22 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Cai
Lin |
|
Director |
Cai
Wanyu |
|
Huang
Hong |
|
|
Ju
Conghui |
|
|
Zhou
Shuyan |
|
|
Ma Deqiang |
|
|
Bo Gongtao |
|
|
Supervisor |
Liao
Qingyu |
|
Wang Xiaoju |
|
|
Zhou Ailing |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Hunan Tianchen Venture Capital
Co., Ltd.
2.00
Huang Hong
3.03
Ju Conghui
3.03
Liao Qingyu
11.72
Zhou Shuyan
3.03
Cai Lin
39.81
Cai Wanyu
28.43
Xu Huafu
0.50
Li Bingkuan
0.30
Liu Zhenxing
0.19
Zhu Zhenhua
4.74
Zhao Guiting
3.22
Hunan Tianchen Venture Capital Co.,
Ltd.:
===================================
Date of Registration: August 6, 2010
Registration No.: 430000000078085
Legal Form: Limited
Liabilities Company
Registered Capital: CNY 30,000,000
MANAGEMENT
Cai
Lin, Legal Representative, Chairman and General
Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 45
Ø
ID# 610302196704184654
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Director
------------
Cai Wanyu ID#
610302197209114653
Huang Hong ID#
610302196412064650
Ju Conghui ID#
610103197104123225
Zhou Shuyan ID#
610303196412281627
Ma Deqiang
Bo Gongtao ID# 440301196511205510
Supervisor
---------------
Liao Qingyu ID#
140103197112306328
Wang Xiaoju ID#
610321197909260044
Zhou Ailing ID#
612522197909040040
BUSINESS OPERATION
SC’s registered business scope includes manufacturing, processing
and selling chemical products, metal materials and equipment, metal catalyst;
exporting its products; importing materials and equipment needed for its
production.
SC is
mainly engaged in manufacturing and selling chemical products.
Brand : Rock
SC’s products mainly include:
n
Noble Metal
Catalysts
n
Ramipril
Intermediates
n
Lisinopril
Intermediates
n
Benazepril
Intermediates
n
Fosinopril
Intermediates
SC sources its materials 100% from domestic
market, mainly Shaanxi. SC sells 30% of its products in domestic market, and
70% to overseas market, mainly Japan, Southeast Asia and Middle East.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 130
staff at present.
SC owns an area as
its operating office & factory of approx. 23,000 sq. meters at the heading
address.
RELATED COMPANY
Beijing
Office
Add:
Rm.805, Block B, Peking Times Square, No.103 Huizhongli, Chaoyang District,
Beijing
Tel:
+86-10-84871070/71/72
Fax:
+86-10-84871078
E-mail:
bj-bjrock@163.com
Shenzhen
Office
Add:
Contacts:
Ju Conghui
Tel:
+86-755-26484276
Fax:
+86-755-26484276
Hangzhou
Logistics Centre
Tel:
+86-571-86873280
Fax:
+86-571-86873280
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
Basic Bank:
Industrial
and Commercial Bank of China Baoji Baotai Subranch
AC#:
2603021909200002334
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
20,300 |
|
|
Accounts
receivable |
25,580 |
|
Advances to
suppliers |
0 |
|
Other receivable |
10 |
|
Inventory |
31,900 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
9,040 |
|
|
------------------ |
|
Current assets |
86,830 |
|
Fixed assets |
13,530 |
|
Construction in
progress |
3,750 |
|
Intangible
assets |
0 |
|
Long-term
prepaid expenses |
0 |
|
Deferred income
tax assets |
0 |
|
Other
non-current assets |
1,390 |
|
|
------------------ |
|
Total assets |
105,500 |
|
|
============= |
|
Short-term loans |
6,000 |
|
Notes payable |
0 |
|
Accounts payable |
9,400 |
|
Wages payable |
0 |
|
Advances from
clients |
0 |
|
Other payable |
1,930 |
|
Other current
liabilities |
1,940 |
|
|
------------------ |
|
Current
liabilities |
19,270 |
|
Non-current
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
19,270 |
|
Equities |
86,230 |
|
|
------------------ |
|
Total
liabilities & equities |
105,500 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
175,100 |
|
Cost of sales |
142,170 |
|
Sales expense |
440 |
|
Management expense |
5,350 |
|
Finance expense |
770 |
|
Profit before
tax |
23,150 |
|
Less: profit tax |
3,220 |
|
19,930 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Current ratio |
4.51 |
|
*Quick ratio |
2.85 |
|
*Liabilities
to assets |
0.18 |
|
*Net profit
margin (%) |
11.38 |
|
*Return on
total assets (%) |
18.89 |
|
*Inventory /
Revenue ×365 |
67 days |
|
*Accounts
receivable/ Revenue ×365 |
54 days |
|
*
Revenue/Total assets |
1.66 |
|
* Cost of
sales / Revenue |
0.81 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly good.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC’s short-term loans are in an average level.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
Credit Opinion: USD 1,500,000
SC is considered medium-sized in its line with
fairly good financial conditions. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 1,000,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.64.54 |
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.