MIRA
INFORM REPORT
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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI HAOYUAN CHEMICAL GROUP CO., LTD. |
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Registered Office : |
No. 1, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
13.11.1989 |
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Com. Reg. No.: |
341200000040629 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing, processing and selling chemicals. |
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No. of Employees : |
1,650 |
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 : |
Good |
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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
ANHUI HAOYUAN CHEMICAL
GROUP CO., LTD.
NO. 1, FUKANG ROAD, FUYANG, ANHUI PROVINCE 236056 PR CHINA
TEL: 86 (0) 558-2368015
FAX: 86 (0) 558-2368686
EXECUTIVE SUMMARY
Date of Registration : November 13, 1989
REGISTRATION NO. : 341200000040629
LEGAL FORM : Limited Liabilities Company
CHIEF EXECUTIVE : zheng gaochao (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 106,347,700
staff : 1,650
BUSINESS CATEGORY :
MANUFACTURING & processing & trading
Revenue : CNY 1,915,551,000 (AS OF DEC. 31,
2010)
EQUITIES : CNY 624,154,000 (AS OF DEC. 31,
2010)
WEBSITE :
www.chinahaoyuan.com
E-MAIL :
ahhychem@163.com
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND :
STEADY
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
SC was established as a state-owned enterprise of PRC on
November 13, 1989. However, SC changed to present legal form, and was
registered as limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 341200000040629 on
August 6, 2002.
SC’s Organization Code Certificate No.: 74089900-7
SC’s registered capital: CNY 106,347,700
SC’s paid-in capital: CNY 106,347,700
Registration
Change Record:
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Date |
Change of Contents |
Before the change |
After the change |
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Legal Representative |
Wang Xianyi |
Rao Jinduo |
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Registered Capital |
CNY 10,530,000 |
CNY 20,530,000 |
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Company Name |
Anhui Fuyang Chemical Industry General Factory |
Anhui Haoyuan Chemical Co., Ltd. |
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Legal Form |
State-owned enterprise |
Limited Liabilities Company |
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Registered Capital |
CNY 20,530,000 |
CNY 51,352,400 |
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Registered Capital |
CNY 51,352,400 |
CNY 106,347,700 |
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Company Name |
Anhui Haoyuan Chemical Co., Ltd. |
Anhui Haoyuan Chemical Group Co., Ltd. |
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-- |
Registration No. |
3421001000093 |
341200000040629 |
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2011 |
Legal Representative |
Rao Jinduo |
Zheng Gaochao |
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Shareholder (s) |
Shanxi Jincheng Anthracite Mining Group Co., Ltd. 35.00% Rao Jinduo 20.98% Li Jizhong 5.63% Gao Yulei 5.73% Zheng Gaochao 5.54% Liu Bo 5.18% Tian Huaiguang 5.92% Mao Yongxian 7.93% Yang Jie 8.09% |
Shanxi Jincheng Anthracite Mining Group Co., Ltd. 35.00% Rao Jinpeng 20.98% Li Jizhong 5.63% Gao Yulei 5.73% Zheng Gaochao 5.54% Liu Bo 5.18% Tian Huaiguang 5.92% Mao Yongxian 7.93% Yang Jie 8.09% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Shanxi Jincheng Anthracite Mining Group Co., Ltd. |
35.00 |
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Rao Jinpeng |
20.98 |
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Li Jizhong |
5.63 |
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Gao Yulei |
5.73 |
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Zheng Gaochao |
5.54 |
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Liu Bo |
5.18 |
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Tian Huaiguang |
5.92 |
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Mao Yongxian |
7.93 |
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Yang Jie |
8.09 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Zheng Gaochao |
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General Manager |
Liu Bo 刘博 |
RECENT DEVELOPMENT
SC has passed attestations of ISO9001 quality management system,
ISO14001 environment management system and OHSAS18001 occupation health safety
management system.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shanxi Jincheng Anthracite Mining Group Co., Ltd. 35.00
Rao Jinpeng 20.98
Li Jizhong 5.63
Gao Yulei 5.73
Zheng Gaochao 5.54
Liu Bo 5.18
Tian Huaiguang 5.92
Mao Yongxian 7.93
Yang Jie 8.09
Shanxi Jincheng Anthracite Mining Group Co., Ltd.:
=========================================
Registration No.: 140000100090148
Date of Registration: December 31, 1958
Legal Form: Limited Liabilities Company
Registered Capital: CNY 4,051,634,600
Legal Representative: Wu Huatai
Web: www.jccoal.com
E-mail: jm212@126.com
MANAGEMENT
Zheng Gaochao, Legal Representative and Chairman
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative and
chairman
Liu Bo, General Manager
------------------------------------------
Gender: M
ID#: 342101196910222032
Age: 42
Qualification: University
Working experience (s):
At present, working in SC as general manager
BUSINESS OPERATION
SC’s registered business scope includes fertilizers,
chemicals; processing chemical machinery; plastic knitting; technology development,
transfer, service and consultation of main business; exporting its products and
technology and importing the machinery, parts, materials and technology needed
for its produce, excluding the items limited or prohibited by the state.
SC is mainly engaged in manufacturing, processing and
selling chemicals.
SC’s products mainly include: acetylene & Oxygen &
Nitrogen, Plastic woven bag, Ammonium hydrogen carbonate, Methanol, etc.
SC sources its materials 100% from domestic market. SC sells
70% of its products in domestic market, and 30% to overseas market, mainly
Japan, India, etc.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Staff
& Office:
--------------------------
SC is known to have approx. 1,650 staff at
present.
SC owns an area as its operating office and factory of
approx. 200,000 sq. meters at the heading address.
RELATED COMPANY
Subsidiaries & Branch,
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Fuyang Haoyuan Machinery Co., Ltd.
Fuyang Haoyuan Gas Co., Ltd.
Fuyang Haoyuan Plastic Co., Ltd.
Anhui Haoyuan Chemical Group Co., Ltd. Chemical Sales Branch
Etc.
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
Basic Bank:
China Construction Bank Fuyang Sub-branch
AC#:
34001718608050445269
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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Long term investment |
52,629 |
82,703 |
88,203 |
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Total assets |
1,301,400 |
1,423,999 |
1,821,275 |
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Long term liabilities |
188,830 |
256,569 |
349,496 |
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Total liabilities |
895,016 |
911,935 |
1,197,121 |
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Equities |
406,384 |
512,064 |
624,154 |
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Revenue |
1,533,550 |
1,568,473 |
1,915,551 |
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Profit before tax |
121,645 |
165,856 |
160,156 |
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Less: profit tax |
30,412 |
24,983 |
23,990 |
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Profits |
91,233 |
140,873 |
136,166 |
Note: The detailed financials
for Y2008 & Y2009 & Y2010 are not available in SAIC.
Important Ratios
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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*Liabilities to assets |
0.69 |
0.64 |
0.66 |
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*Net profit margin (%) |
5.95 |
8.98 |
7.11 |
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*Return on total assets (%) |
7.01 |
9.89 |
7.48 |
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* Revenue/Total assets |
1.18 |
1.10 |
1.05 |
FINANCIAL COMMENTS
PROFITABILITY: FAIRLY GOOD
The revenue of SC appears fairly good in its line, and it
increased year by year.
SC’s net profit margin is fairly good in three years.
SC’s return on total assets is fairly good in three years.
LIQUIDITY: AVERAGE
SC’s revenue is in an average level, comparing with the size
of its total assets.
LEVERAGE: FAIRLY GOOD
The debt ratio of SC is average in three years.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.42 |
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UK Pound |
1 |
Rs.88.45 |
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Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
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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.