MIRA
INFORM REPORT
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Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
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Name : |
LIAONING SHIXING PHARMACEUTICAL &
CHEMICAL CO., LTD. |
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Registered Office : |
No. 4, Jinhu North Road, Longgang District, Huludao, Liaoning
Province, 125003 Pr |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.05.2000 |
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Com. Reg. No.: |
211400000016676 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing and Selling Different Sorts of Chemicals. |
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No. of Employees : |
800 |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
LIAONING SHIXING PHARMACEUTICAL & CHEMICAL
CO., LTD.
NO. 4, JINHU NORTH ROAD, LONGGANG DISTRICT,
HULUDAO, LIAONING PROVINCE, 125003 PR CHINA
TEL: 86 (0) 429-2200111/2202222/2200018 FAX:
86 (0) 429-2200113/2091258
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 16, 2000
REGISTRATION NO. : 211400000016676
REGISTERED LEGAL FORM :
LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE : MR. DONG GUANGLIN (CHAIRMAN)
STAFF STRENGTH : 800
REGISTERED CAPITAL : CNY 66,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER :
CNY 291,030,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 144,075,000 (AS OF DEC. 31,
2010)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.31 = USD 1 AS OF
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: SC’s complete name should be the heading one.
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on May 16, 2000.
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 manufacturing and selling
p-aminophenol, paranitrochlorobenzene, ortho-nitrochlorobenzene, chlorinated
benzoic, phenylhydrazine, parachloroaniline, pharmaceutical intermediates, paranitrophenylhydrazine,
hydrochloride, chlorobenzene hydrazine hydrochloride, acetaminophen, iron oxide
red, iron oxide yellow; selling methyl-guaiacol, ethyl- guaiacol,
methyl-vanillin, ethyl- vanillin and self chemical materils; hazardous chemicals (only flammable liquid
(methylbenzene, methyl alcohol & chlorinated benzenes) and corrosives
(hydrogen nitrate & sodium hydroxide)) wholesaling without storage;
exporting self-made products, importing technology research needed materials;
consulting service.
SC is mainly engaged in manufacturing and selling different sorts of
chemicals.
Mr. Dong Guanglin has been legal representative and chairman of SC since
2000.
SC is known to have approx. 800 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 Huludao. Our
checks reveal that SC owns the total premise about 116,587 square meters.
http://www.hldsxyh.cn/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: phchp@online.ln.cn
Changes of its registered
information:
|
Date of change |
Item |
Before the change |
After the change |
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Shareholders |
Dong Guanglin 99%, Dong Dawei 1% |
The present ones |
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Registered capital |
CNY 29,000,000 |
The present amount |
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Registration No. |
2114002600257 |
The present one |
SC has been certified by ISO9001, ISO9001, ISO14001, and OHSMS18001
International Quality System.
Honors:
MAIN SHAREHOLDERS:
Name % of Shareholding
Dong Dawei ID# 211403197804238210 60
Dong Guanglin 20
Sun Jizhi ID# 21070219640802002X 10
Feng Qiusheng ID# 130229198308201415
5
Wang Baoqin ID# 210705195202208021 5
·
Legal representative and chairman:
Mr. Dong Guanglin ID# 211403490929801, born in 1949.
He is currently responsible for the overall management of SC.
Working Experience(s):
From 2000 to present Working
in SC as legal representative and chairman.
SC is mainly engaged in manufacturing and selling different sorts of
chemicals.
SC’s products mainly include 2-Ethoxyphenol, Paracetamol, Para-Amino
phen, P-Nitrochlorobenzene, O-Nitrochlorobenzene, etc.
SC offer dozens of pharmaceutical, agrochemical and dyestuff
intermediate, including Ethyl-Vanillin, Ortho-Anisidine, O-Nitro anisole,
2-Ethyl Guaiacol, Para-Amino phenol, P-Nitrochlorobenzene,
O-Nitrochlorobenzene, etc. The target output is Ethyl-Vanillin 1000 tons per
year, Ortho-Anisidine 10000 tons per year and Ortho-Nitro anisole 15000 tons
per year.
SC sources its materials 90% from domestic market, and 10% from overseas
market, mainly Europe. SC sells 40% of its products in domestic market, and 60%
to overseas market, mainly Europe and Southeast Asian market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its major suppliers and customers.
SC is not known to have any subsidiary at present.
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.
Financial Summary
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Unit: CNY’ 000 |
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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Long term liabilities |
0 |
90,445 |
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Total liabilities |
215,748 |
253,751 |
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Shareholders equities |
139,145 |
144,075 |
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--------------- |
--------------- |
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Total assets |
354,893 |
397,826 |
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========== |
========== |
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Turnover |
465,006 |
291,030 |
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Profit before tax |
11,021 |
/ |
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Less: Profit tax |
0 |
/ |
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Net profit |
11,021 |
/ |
Note: we did not
find SC’s detailed financial reports at local AIC for Yr2009 and Yr2010.
Important Ratios
===============
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as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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*Liabilities to assets |
0.61 |
0.64 |
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*Net profit margin (%) |
2.37 |
/ |
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*Return on total assets (%) |
3.11 |
/ |
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*Turnover/Total assets |
1.31 |
0.73 |
PROFITABILITY:
AVERAGE
·
The turnover of SC appears fairly good in its line,
but it decreased in 2010.
·
SC’s net profit margin appears average in 2009.
·
SC’s return on total assets appears average in
2009.
·
SC’s turnover is in an average level in 2009 but in
a fair level in 2010, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
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The debt ratio of SC is average in both 2 years.
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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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.69.24 |
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.