MIRA
INFORM REPORT
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Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI TONGHUI PERFUME CO., LTD. |
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Registered Office : |
Nothern Part, South 1st Ring, Southern New District, Bozhou City,
Anhui Province 236800 Pr |
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Country : |
CHINA |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.12.2005 |
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Com. Reg. No.: |
341600000015003 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling perfume |
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No. of Employees : |
198 |
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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Maximum Credit Limit : |
usd 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name and address
ANHUI TONGHUI PERFUME CO., LTD.
NOTHERN PART, SOUTH
1ST RING, SOUTHERN NEW district,
bozhou city, anhui
PROVINCE 236800 PR CHINA
TEL: 86 (0)
558-5121578/5078666 FAX: 86 (0)
558-5116078
EXECUTIVE SUMMARY
INCORPORATION DATE : dec. 12, 2005
REGISTRATION NO. : 341600000015003
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
198
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
manufacturing
TURNOVER :
CNY 38,665,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 12,241,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 80,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3621 = 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
Note: The (No. 53, Fangyuanzhong, Qiaochenggou, Bozhou,
Anhui, 236800 P.R. China) was SC’s former address, while SC moved into the
heading premise in August, 2010.
SC was registered as one-person limited liability company at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Dec. 12, 2005 and has been under
present legal form since 2009.
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 permit business scope: manufacturing and selling food additives
(natural menthol, Asian mint vegetable) (with permit if needed); general
business scope: selling natural spices, synthetic spices, purchasing and selling deputy agricultural
products, import and export of various goods and technologies (excluding
commodities that refined or prohibited by the state)
SC is mainly
engaged in manufacturing and selling perfume.
Mr. Xu Huaxue has been legal representative, chairman and
general manager of SC since 2005.
SC is known to
have approx. 198 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Bozhou. Detailed
information of the premise is unspecified.
http://www.ahthxl.com
The design is professional and the content is well organized. At present the
web is both in Chinese and English versions.
E-mail: xhx9798@yahoo.com.cn
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2009-11 |
Shareholders and
shareholding |
Xu Huaxue 100% |
Xu Huaxue 80% Zhang Peng 20% |
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Legal form |
one-person limited liability company |
limited liabilities company |
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Registered capital |
CNY 3,800,000 |
Present amount |
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2010-12 |
Shareholders |
Xu Huaxue 80% Zhang Peng 20% |
Xu Huaxue 80% Zhang Daomin 20% |
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Unknown |
Registration no. |
3412812302266 |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xu Huaxue
ID#
341281197109203195 80
Zhang Daomin
ID# 341281197105123200 20
l
Legal representative, Chairman and General Manager:
Mr. Xu Huaxue , ID# 341281197109203195, born in 1975, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2005
to present Working in SC
as legal representative, chairman and general manager
SC is mainly
engaged in manufacturing and selling perfume.
SC’s products
mainly include: menthol, peppermint oil - and Star Anise oil, 1.8 Holly oil,
natural aromatic oils, and pharmaceutical raw materials and other products.
SC sources its materials 70% from domestic
market, and 30% from overseas market. SC sells 45% of its products in domestic
market, mainly Anhui province and Shanghai, and 55% to overseas market, mainly
European and American countries.
The buying terms of SC include Check, T/T, L/C and Credit of 15-30 days.
The payment terms of SC include Check, T/T, L/C and Credit of 15-30 days.
SC’s products are mainly provided for chemical and medical industries.
From SC’s website, it is known to have the following factory:
Bozhou
Golden Lily Perfume & Chemical Co., Ltd.
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 details.
Unit: CNY’000
Note:
SC’s detailed financial reports for Yr2009 and Yr2010 were not found in local
AIC.
Important Ratios
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as
of Dec. 31, 2010 |
as
of Dec. 31, 2009 |
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*Current ratio |
/ |
/ |
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*Quick ratio |
/ |
/ |
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*Liabilities
to assets |
0.61 |
0.62 |
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*Net profit
margin (%) |
2.44 |
0.85 |
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*Return on
total assets (%) |
3.01 |
0.93 |
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*Inventory
/Turnover ×365 |
/ |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
/ |
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*Turnover/Total
assets |
1.23 |
1.10 |
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* Cost of
goods sold/Turnover |
/ |
/ |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line in
both two years, and it rose in 2010.
l
SC’s net profit margin is average in both two
years.
l
SC’s return on total assets is average in both two years.
l
SC’s turnover is in an average level in both two
years, 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.
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 80,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.33 |
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|
1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.31 |
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.