MIRA
INFORM REPORT
|
Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHINA RESOURCES PACKAGING MATERIAL CO., LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
14.07.2003 |
|
|
|
|
Com. Reg. No.: |
320400400010976 |
|
|
|
|
Legal Form : |
Wholly Foreign-Owned Enterprise |
|
|
|
|
Line of Business : |
Manufacturing and selling polyester chips. |
|
|
|
|
No. of Employees : |
577 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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 and address
CHINA RESOURCES PACKAGING MATERIAL CO., LTD.
YUTANG INDUSTRIAL PARK, CHUNJIANG TOWN, XINBEI DISTRICT
CHANGZHOU, JIANGSU PROVINCE 213022 PR CHINA
TEL: 86 (0) 519-85177777/85778179
FAX: 86 (0) 519-85100559
EXECUTIVE SUMMARY
Date of Registration : july 14, 2003
REGISTRATION NO. : 320400400010976
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : usd 161,000,000
staff :
577
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 4,135,053,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 1,343,352,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.32 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established
as a wholly foreign-owned enterprise of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 320400400010976 on July 14, 2003.
SC’s Organization Code Certificate No.:
75200391-7
SC’s Tax No.: 320400752003917
SC’s Customs Registration No.: 3204945218
SC’s registered capital: usd 161,000,000
SC’s paid-in capital: usd 161,000,000
Registration Change Record:
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China Resources Chemicals Holdings Limited
(Hong Kong) |
75.20 |
|
China Resources Chemicals Company Limited
(Hong Kong) |
24.80 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhu Zhenda |
|
Director |
Tian Meiyuan |
|
Liu Hongzhi |
|
|
Xiao Ning |
|
|
Zhang Wenxue |
|
|
Supervisor |
Guo Yan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
China Resources Chemicals Holdings Limited
(Hong Kong) 75.20
China Resources Chemicals Company Limited
(Hong Kong) 24.80
China Resources Chemicals Holdings Limited
=====================================
Date of Registration: December 3, 2007
Registration No.: 1191198
Legal Form: Private
China Resources Chemicals Company Limited
=====================================
Date of Registration: February 1, 1994
Registration No.: 0463905
Legal Form: Private
MANAGEMENT
Zhu Zhenda , Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 48
Ø
ID# 110105196411060535
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative,
chairman and general manager
Director
------------
Tian Meiyuan ID#
120105197203103920
Liu Hongzhi ID#
11010119651108407X
Xiao Ning ID#
432802197106133013
Zhang Wenxue ID#
110101196611154039
Supervisor
--------------
Guo Yan ID# R086979(0)
BUSINESS OPERATION
SC’s registered business scope includes
manufacturing polyester chips; selling its owned products; importing and
exporting polyester chips, polyester slices raw materials, refined terephthalic
acid, 1,2 - ethylene glycol; domestic wholesale business of scrap.
SC is mainly
engaged in manufacturing and selling polyester
chips.
SC’s products
mainly include: non-fiber grade polyester chips.
SC sources its materials 20% from domestic
market, mainly Jiangsu, 80% from overseas market, mainly Taiwan and Korea. SC
sells 80% of its products in domestic market, and 20% to overseas market,
mainly Japan, etc.
The
import & export status of SC in 2010 is as follows,
|
Country |
Amount of
Exports (USD) |
Amount of Imports (USD) |
|
Korea |
-- |
42,300,000 |
|
Thailand |
-- |
34,665,000 |
|
Saudi Arabia |
-- |
23,788,700 |
|
Taiwan |
-- |
51,116,600 |
|
Japan |
-- |
6,665,000 |
|
Singapore |
-- |
2,912,000 |
|
Africa |
30,000,000 |
-- |
|
South America |
10,000,000 |
-- |
|
Japan |
40,000,000 |
-- |
The buying terms of
SC include T/T, L/C and Credit of 30-60 days. The payment terms of SC include
T/T, L/C and Credit of 30-60 days.
*Major Competitors:
===============
Yuhua Polyester
Co., Ltd. Of Zhuhai
Far Eastern
Industry (Shanghai) Ltd.
Sinopec Yizheng
Chemical Fibre Co., Ltd.
Staff & Office:
--------------------------
SC is known
to have approx. 577 staff at
present.
SC owns an area as
its operating office & factory of approx. 164,749 sq. meters at the heading
address.
RELATED COMPANY
Subsidiaries:
-----------------
n
Shenzhen China Resources Chemical Co., Ltd.
n
Changzhou Xinrun Petrochemical Storage Co., Ltd.
n
Zhuhai China Resources Packaging Co., Ltd.
Branch
----------
China
Resources Packaging Material Co., Ltd. Changzhou Branch
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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
|
Long term investment |
165,809 |
|
Total assets |
2,663,989 |
|
|
------------- |
|
Long term liabilities |
0 |
|
Total
liabilities |
1,320,637 |
|
Equities |
1,343,352 |
|
|
------------- |
|
Revenue |
4,135,053 |
|
Profit before
tax |
121,085 |
|
Less: profit tax |
2,708 |
|
Profits |
118,377 |
Note: The detailed financials for Y2010 are not available in SAIC.
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
|
*Liabilities
to assets |
0.50 |
|
*Net profit
margin (%) |
2.86 |
|
*Return on
total assets (%) |
4.44 |
|
*
Revenue/Total assets |
1.55 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly good.
CONCLUSIONS
SC is considered large-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.