MIRA
INFORM REPORT
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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HANDAN ZHANGYUAN CHEMICAL CO., LTD. |
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Registered Office : |
Room 10-3-9, Renda
Garden, No. 205 Congtai Road, Congtai District Handan, Hebei Province 056002
Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.11.2010 |
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Com. Reg. No.: |
130400000068909 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling
Chemical Products |
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No. of Employees : |
20 |
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 & address
Handan Zhangyuan Chemical
Co., Ltd.
Room
handan, hebei PROVINCE 056002 PR CHINA
TEL: 86 (0) 310-5279368/15713195925
FAX: 86 (0) 310-7100098
EXECUTIVE SUMMARY
Date
of Registration : november 29,
2010
REGISTRATION
NO. : 130400000068909
LEGAL
FORM : Limited liabilities company
REGISTERED CAPITAL : cny 2,000,000
staff :
20
BUSINESS CATEGORY : trading
Sale : CNY 125,000
(AS OF DEC. 31, 2011)
EQUITIES : CNY 1,986,000
(AS OF DEC. 31, 2011)
WEBSITE : www.zyccl.com
E-MAIL : sales@zyccl.com
PAYMENT :
AVERAGE
MARKET CONDITION :
fair
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND : FAIR
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
LEGAL
STATUS & HISTORY
SC was established as a limited
liabilities company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 130400000068909
on November
29, 2010.
SC’s Organization Code Certificate No.: 56615318-8
SC’s registered capital: cny 2,000,000
SC’s paid-in capital: cny 2,000,000
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 |
|
Gao Sufang |
75 |
|
Li Qingwen |
25 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Gao
Sufang |
|
Supervisor |
Li
Qingwen |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Gao Sufang 75
Li Qingwen 25
MANAGEMENT
Gao
Sufang, Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Age: 21
Ø
ID# 130531199111230223
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative,
chairman and general manager
Li
Qingwen, Supervisor
------------------------------------------
Ø
Gender: M
Ø
Age: 45
Ø
ID# 132233196705200237
BUSINESS
OPERATION
***Note: SC started
its normal operation in 2011.
SC’s registered business scope includes selling oxide of
zinc, carbon black, iron oxide, chrome oxide green, lithopone, titanium
dioxide, pentaerythrite, boric acid, stearic acid, paraffin, fatty acid, nickel
oxide, silicon carbide, aluminum sulfate, zinc sulfate, sodium
sulfite,magnesium carbonate, mining and electrical and mechanical equipment and
accessories, steel, iron powder, coke; goods import and export.
SC is mainly engaged in selling
chemical products.
SC’s products mainly include:
Manganese carbonate
Industrial ammonium bicarbonate
Potassium carbonate
Potassium nitrate
Basic zinc carbonate
Calcium carbonate
Glacial Acetic Acid
Boric Acid
Monoammonium Phosphate
Diammonium Phosphate
SC sources its materials 100% from domestic market, mainly Hebei. SC sells 10% of its products in domestic market, and 90% to overseas market, mainly USA, Europe, 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. 20 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 |
|
6 |
152 |
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Notes
receivable |
0 |
0 |
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Accounts receivable |
0 |
0 |
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Advances to suppliers |
2,000 |
851 |
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Other receivable |
0 |
0 |
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Inventory |
0 |
928 |
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Non-current assets within one
year |
0 |
0 |
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Other current assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
2,006 |
1,931 |
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Fixed assets |
0 |
56 |
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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 |
2,006 |
1,987 |
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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 |
0 |
1 |
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Advances from clients |
0 |
0 |
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Other payable |
10 |
0 |
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Other current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current liabilities |
10 |
1 |
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Non-current liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
10 |
1 |
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Equities |
1,996 |
1,986 |
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------------------ |
------------------ |
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Total liabilities & equities |
2,006 |
1,987 |
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============= |
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Income
Statement
|
Unit: CNY’000 |
As of Dec. 31, 2010 |
As of Dec. 31, 2011 |
|
Sale |
0 |
125 |
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Cost of sales |
0 |
103 |
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Sales expense |
0 |
0 |
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Management expense |
3 |
32 |
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Finance expense |
0 |
0 |
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Profit before tax |
-3 |
-10 |
|
Less: profit tax |
0 |
0 |
|
-3 |
-10 |
Important Ratios
=============
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As of Dec. 31, 2010 |
As of Dec. 31, 2011 |
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*Current ratio |
200.60 |
1,931.00 |
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*Quick ratio |
200.60 |
1,003.00 |
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*Liabilities to assets |
0.005 |
0.0005 |
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*Net profit margin (%) |
-- |
-8.00 |
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*Return on total assets (%) |
-0.15 |
-0.50 |
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*Inventory / Sale ×365 |
-- |
2,710 days |
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*Accounts receivable/ Sale ×365 |
-- |
-- |
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* Sale/Total assets |
0 |
0.06 |
|
* Cost of sales / Sale |
-- |
0.82 |
FINANCIAL
COMMENTS
PROFITABILITY: FAIR
l
SC started its normal business in 2011, and the sale appears poor in its line.
l
SC’s net
profit margin is fair in 2011.
l
SC’s
return on total assets is fair in 2011.
l
SC’s
cost of sales is average, comparing with its sale.
LIQUIDITY: AVERAGE
l
The current
ratio of SC is maintained in a normal level.
l
SC’s
quick ratio is maintained in a normal level.
l
The
inventory of SC appears fairly large.
l
SC has
no accounts receivable in both years.
l
SC has
no short-term loans in both years.
l
SC’s sale is in a fair 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. The fairly large amount of inventory may be a threat to SC’s
financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.55 |
|
UK Pound |
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.