MIRA
INFORM REPORT
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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HEBEI XINZHUANGYI CHEMICAL TRADE CO., LTD. |
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Registered Office : |
Room 1608, Unit 2, Building 1, Lianbang Dongfang Mingzhu No.
66 Zhaiying South Street, Yuhua District Shijiazhuang, Hebei Province 050000
Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.10.2009 |
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Com. Reg. No.: |
130100000265445 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Wholesaling and retailing chemical products, nonferrous metal, building materials, steel materials, hardware, mechanical & electrical products, rubber, and grocery; importing and exporting commodities and technology. |
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No. of Employees : |
15 |
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 : |
Slow |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
HEBEI XINZHUANGYI CHEMICAL TRADE CO., LTD.
ROOM 1608, UNIT 2, BUILDING 1, LIANBANG DONGFANG MINGZHU
NO. 66 ZHAIYING SOUTH STREET, YUHUA DISTRICT
SHIJIAZHUANG, HEBEI PROVINCE 050000 PR CHINA
TEL: 86 (0) 311-80979975
FAX: 86 (0) 311-80979971
EXECUTIVE SUMMARY
Date of Registration : october 12, 2009
REGISTRATION NO. : 130100000265445
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : cny 3,000,000
staff :
15
BUSINESS CATEGORY : trading
Revenue :
CNY 7,825,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 2,895,000 (AS OF DEC. 31, 2011)
WEBSITE : www.xzyhg.com
E-MAIL :
zhengjianbing2008@126.com
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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
***Note: The given telephone number (9913324705) is
wrong.
SC was established
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 130100000265445 on October 12,
2009.
SC’s Organization Code Certificate No.:
69585034-2
SC’s registered capital: cny 3,000,000
SC’s paid-in capital: cny 3,000,000
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 |
|
Shi Xin |
20 |
|
Zheng Jianbing |
80 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Shi Xin |
|
Supervisor |
Zheng Jianbing |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shi Xin 20
Zheng Jianbing 80
MANAGEMENT
Shi Xin , Legal Representative, Chairman and General
Manager
-------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 26
Ø
ID# 130127198610171810
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative,
chairman and general manager
Zheng Jianbing ,
Supervisor
-----------------------------------------------
Ø
Gender: M
Ø
Age: 43
Ø
ID# 132330196909161838
BUSINESS OPERATION
SC’s registered business scope includes wholesaling and
retailing chemical products, nonferrous metal, building materials, steel
materials, hardware, mechanical & electrical products, rubber, and grocery;
importing and exporting commodities and technology.
SC is mainly
engaged in selling chemical products.
SC’s products
mainly include:
Nanometer zinc
oxide
Activity of zinc
oxide
Zinc oxide
Magnesium
carbonate
Chloride Zinc
Basic zinc
carbonate
Zinc Sulfate
Zinc nitrate
SC sources its materials 100% from domestic market, mainly Hebei. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly Mid East, Southeast Asia, etc.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 15 staff at
present.
SC rents an area as
its operating office, but the detailed information is unknown.
RELATED COMPANY
SC
is not known to have any subsidiary at present.
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
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
537 |
1,174 |
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Notes receivable |
0 |
0 |
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Accounts
receivable |
994 |
421 |
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Advances to
suppliers |
0 |
0 |
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Other receivable |
1,035 |
351 |
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Inventory |
381 |
914 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
100 |
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------------------ |
------------------ |
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Current assets |
2,947 |
2,960 |
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Fixed assets |
37 |
29 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred income
tax assets |
0 |
0 |
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Other non-current
assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
2,984 |
2,989 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Wages payable |
0 |
0 |
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Taxes payable |
8 |
26 |
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Advances from
clients |
49 |
0 |
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Other payable |
0 |
68 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
57 |
94 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
57 |
94 |
|
Equities |
2,927 |
2,895 |
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------------------ |
------------------ |
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Total
liabilities & equities |
2,984 |
2,989 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
|
Revenue |
4,593 |
7,825 |
|
Cost of sales |
4,134 |
7,060 |
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Sales expense |
0 |
0 |
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Management expense |
52 |
746 |
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Finance expense |
1 |
23 |
|
Profit before
tax |
-68 |
-31 |
|
Less: profit tax |
0 |
1 |
|
-68 |
-32 |
Important Ratios
=============
|
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
51.70 |
31.49 |
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*Quick ratio |
45.02 |
21.77 |
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*Liabilities to
assets |
0.02 |
0.03 |
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*Net profit
margin (%) |
-1.48 |
-0.41 |
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*Return on
total assets (%) |
-2.28 |
-1.07 |
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*Inventory /
Revenue ×365 |
31 days |
43 days |
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*Accounts
receivable/ Revenue ×365 |
79 days |
20 days |
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*
Revenue/Total assets |
1.54 |
2.62 |
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* Cost of
sales / Revenue |
0.90 |
0.90 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears average in its line, and
it increased in 2011.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: AVERAGE
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 appears average.
l
The accounts receivable of SC appears average.
l
SC has no short-term loans in both years.
l
SC’s revenue is in a fairly good 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 above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.