MIRA
INFORM REPORT
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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HEBEI YUXING BIO-ENGINEERING CO., LTD. |
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Registered Office : |
High & New Technology Development Area, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.12.2003 |
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Com. Reg. No.: |
130500400000500 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture Enterprise |
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Line of Business : |
Manufacturing and selling additives, pharmaceutical raw materials. |
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No. of Employees : |
500 |
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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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 YUXING BIO-ENGINEERING CO., LTD.
HIGH & NEW TECHNOLOGY DEVELOPMENT AREA,
NINGJIN COUNTY, XINGTAI, HEBEI PROVINCE, 051630 PR CHINA
TEL: 86 (0)
319-5808191/5515199 FAX: 86 (0)
319-5801619
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 3, 2003
REGISTRATION NO. : 130500400000500
REGISTERED LEGAL FORM : Chinese-foreign equity
joint venture enterprise
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 88,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
cny 221,266,000
(AS OF DEC. 31, 2009)
EQUITIES :
cny 231,711,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.28 = 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 Ren Min Bi
Note: The given address is same with the heading one.
SC was registered as a Chinese-foreign equity joint venture
enterprise at local Administration for Industry & Commerce (AIC-The
official body of issuing and renewing business license) on Dec. 3, 2003.
Company Status: Chinese-Foreign Equity Joint Venture This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered business scope includes manufacturing feed additives,
pharmaceutical raw materials (vitamin B12, methylcobalamin, and hydroxyl
cobalamin), food additives (vitamin B12, Methylcobalamin, hydroxyl cobalamin);
selling self-made commodities. (with permit if needed)
SC is mainly
engaged in manufacturing and selling additives, pharmaceutical raw materials.
Mr. Wang Yufeng is
the legal representative and chairman of SC at present.
SC is known
to have approx. 500 employees
at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the development Zone of Ningjin County. SC’s
accountant refused to release the detailed information of the area.
http://www.hebyufeng.com
The website belongs to Heibei Yufeng Group Corporation. It includes the
information about SC and its related companies. The design is professional and
the content is well organized. At present it is in Chinese and English
versions.
Email: kugougao@sina.com
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 22,000,000 |
CNY 12,391,600 |
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Registered capital |
CNY 12,391,600 |
CNY 100,000,000 |
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Unknown |
Registered capital |
CNY 100,000,000 |
Present amount |
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Shareholders (shareholding) |
Xunjie (Hong Kong) Electronic Company (in
Chinese Pinyin) 25%; Hebei Guofu Agricultural Investment Group
Co., Ltd. (in Chinese Pinyin) 24%; Hebei Yufeng Starch & Glucose Group
Co., Ltd. 51% |
Present ones |
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Legal representative |
Li Xiujun |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xunjie (Hong Kong) Electronic Company (in Chinese Pinyin) 28.41
Hebei Guofu Agricultural Investment Group
Co., Ltd. (in Chinese Pinyin) 13.64
Yufeng Industrial Group Co., Ltd. 57.95
Hebei Guofu Agricultural Investment Group
Co., Ltd.
=======================================
Legal representative: Xu Hongjie
Registration No.: 130000000011043
Registered capital: CNY 334,000,000
Add: 26/F Yanshan Hotel, No. 40 Yuhua West
Road, Qiaoxi District, Shijiazhuang, Hebei Province
Tel: 86(0)311-87878125
Yufeng Industrial Group Co., Ltd.
=========================
Legal representative: Wang Yufeng
Registration No.: 130000000021619
Registered capital: CNY 119,990,000
Add: High & New Technology Development
Area, Ningjin County, Xingtai, Hebei Province
Tel: 0319-5808191/5808193/5839193
Website: http://www.hebyufeng.com/
l
Legal Representative and Chairman:
Mr. Wang Yufeng , born in 1967, he is currently responsible for the
overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman;
Also working in
Yufeng Industrial Group Co., Ltd. as legal representative and chairman
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Directors:
Chen Minliang
(Hong Kong citizen)
Zhang Meihong
Zhang Shuanbing
Luan Bingfeng
Huang Shuilong
Li Xiujun
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Supervisors:
Li Jianlin
Bu Fengyuan
Liu Zengwei
Lei Donghua
SC is mainly engaged
in manufacturing and selling additives, pharmaceutical raw materials.
SC’s products
mainly include: cyanocobalamin, mecobalamin, hydroxocobalamin, vitamin B12 food
additive, feed additive, etc.
SC sources its
materials 60% from domestic market and 40% from the overseas markets. SC sells
30% of its products in domestic market and 70% to the overseas markets.
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 declined to release its major clients and suppliers.
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 refused to release any information of its
suppliers and the trade reference was not available.
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 accountant
refused to disclose its detailed bank information.
Financial Summary
===============
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Unit: CNY’000 |
As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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Total
liabilities |
51,870 |
158,964 |
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Equities |
309,692 |
231,711 |
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-------------- |
-------------- |
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Total assets |
361,562 |
390,675 |
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========= |
========= |
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Turnover |
224,570 |
221,266 |
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Profit before
tax |
58,805 |
46,868 |
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Less: profit tax |
433 |
5,858 |
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Profits |
58,372 |
41,010 |
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Note: we did not find SC’s detailed financial
reports at local AIC, and SC’s latest
financial reports can not be found in local AIC.
Important Ratios
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As of Dec. 31,
2008 |
As of Dec. 31, 2009 |
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*Liabilities
to assets |
0.14 |
0.41 |
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*Net profit
margin (%) |
25.99 |
18.53 |
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*Return on
total assets (%) |
16.14 |
10.50 |
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*Turnover/Total
assets |
0.62 |
0.57 |
PROFITABILITY:
FAIRLY GOOD
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The turnover of SC appears fairly good but it
decreased slightly in 2009.
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SC’s net profit margin appears fairly good but it
decreased in 2009.
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SC’s return on total assets is fairly good but it
decreased in 2009.
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SC’s turnover is in a fair level in 2008 and 2009,
comparing with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in 2008 and 2009.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly good.
SC is considered medium-sized in its line with fairly good financial conditions.
A credit line up to USD 2,000,000 would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.93 |
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1 |
Rs.85.85 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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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 |
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.