MIRA
INFORM REPORT
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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU CHUNJIANG
AGROCHEMICAL CO., LTD. |
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Registered Office : |
No. 84, Panjiawan, |
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Country : |
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Date of Incorporation : |
25.11.2004 |
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Com. Reg. No.: |
320482000020312 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling agrochemical products. |
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No. of Employees : |
150 |
RATING & COMMENTS
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MIRAs 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 : |
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
JIANGSU CHUNJIANG AGROCHEMICAL CO., LTD.
NO. 84, PANJIAWAN, ZHIXI
TOWN, JINTAN, JIANGSU PROVINCE 213251 PR CHINA
TEL: 86 (0) 519-82442918 FAX:
86 (0) 519-82442866
EXECUTIVE SUMMARY
INCORPORATION DATE : NOV. 25, 2004
REGISTRATION NO. :
320482000020312
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
150
REGISTERED CAPITAL : CNY 10,600,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A (AS
OF DEC. 31, 2010)
EQUITIES :
N/A (AS
OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.37 =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 Renminbi
SC was registered as a Limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Nov. 25, 2004.
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.
SCs registered business scope includes wholesaling pesticide,
fungicide, herbicide, plant growth regulator; manufacturing three phenyl ethyl
tin, cyhalothrin, bifenthrin, three fluorine chlorine acid, 2-chrysanthemum
methyl-3-phenyl methanol, amino pyrazole; importing and exporting commodities
and technologies. (excluding commodities and technologies prohibited by the
state)
SC is mainly engaged in manufacturing and
selling agrochemical products.
Mr.
Zhang Heping is the legal representative, chairman and general manager of SC at
present.
SC is known
to have approx. 150 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 Jintan. Our checks
reveal that SC owns the total premise, but the gross area of the premise is
unspecific.
http://www.chunjiangchem.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
Email: zm@chunjiangchem.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Zhang Heping 84.91
Zhang Min 15.09
l
Legal Representative, Chairman and General Manager:
Mr. Zhang Heping , born in 1964. He is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman
and general manager.
l
Supervisor:
Zhang Min
SC is mainly engaged in manufacturing and
selling agrochemical products.
SCs products mainly include: Triphenyltin hydroxide, Fentin
Acetate, etc.
SC sources its
materials 60% from domestic market and 40% from overseas market. SC sells 70%
of its products in domestic market and 30% to overseas market.
The buying terms of SC include Check, T/T, L/C, and Credit of 30-60
days. The payment terms of SC include T/T, L/C, Check and Credit of 30-60 days.
Note: SC declined
to release its major suppliers and clients.
SC is not known to have the 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.
The banking
information of SC is unknown.
SCs management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered medium-sized in its line with a development history of
8 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.85 |
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1 |
Rs.86.88 |
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Euro |
1 |
Rs.69.88 |
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 SCs 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.