MIRA
INFORM REPORT
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Report Date : |
03.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 210, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.03.2000 |
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Com. Reg. No.: |
370200018080789 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling pesticide |
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No. of Employees : |
600 |
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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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China
has moved from a closed, centrally planned system to a more market-oriented one
that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and
expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, and opening to foreign trade and investment. China has
implemented reforms in a gradualist fashion. In recent years, China has renewed
its support for state-owned enterprises in sectors it considers important to
"economic security," explicitly looking to foster globally competitive
national champions. After keeping its currency tightly linked to the US dollar
for years, in July 2005 China revalued its currency by 2.1% against the US
dollar and moved to an exchange rate system that references a basket of
currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi
against the US dollar was more than 20%, but the exchange rate remained
virtually pegged to the dollar from the onset of the global financial crisis
until June 2010, when Beijing allowed resumption of a gradual appreciation. The
restructuring of the economy and resulting efficiency gains have contributed to
a more than tenfold increase in GDP since 1978. Measured on a purchasing power
parity (PPP) basis that adjusts for price differences, China in 2010 stood as
the second-largest economy in the world after the US, having surpassed Japan in
2001. The dollar values of China's agricultural and industrial output each
exceed those of the US; China is second to the US in the value of services it
produces. Still, per capita income is below the world average. The Chinese
government faces numerous economic challenges, including: (a) reducing its high
domestic savings rate and correspondingly low domestic demand; (b) sustaining
adequate job growth for tens of millions of migrants and new entrants to the
work force; (c) reducing corruption and other economic crimes; and (d)
containing environmental damage and social strife related to the economy's
rapid transformation. Economic development has progressed further in coastal
provinces than in the interior, and by 2011 more than 250 million migrant
workers and their dependents had relocated to urban areas to find work. One
consequence of population control policy is that China is now one of the most
rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to near 9% for 2011. An economic slowdown in Europe is
expected to further drag Chinese growth in 2012. Debt overhang from the
stimulus program, particularly among local governments, and a property price
bubble challenge policy makers currently. The government's 12th Five-Year Plan,
adopted in March 2011, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source : CIA
Company name and address
Qingdao Hansen Biologic Science Co., Ltd.
no. 210, shenzhen
south road, laixi,
qingdao, shandong
PROVINCE, 266600 PR CHINA.
TEL: 86 (0)
532-85760620/66031978 FAX: 86 (0)
532-85778940
EXECUTIVE SUMMARY
INCORPORATION DATE : march 9, 2000
REGISTRATION NO. : 370200018080789
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH :
600
REGISTERED CAPITAL : CNY 57,000,000
BUSINESS LINE :
MANUFACTURING & selling
TURNOVER :
CNY 320,200,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 89,060,000 (AS OF DEC. 31, 2011)
PAYMENT : AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE RATE :
CNY 6.24 = 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 Shares limited co. at local Administration for
industry & commerce (AIC - the official body of issuing and renewing business
license) on Mar. 9, 2000.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co.
raises capital by public offer, the promoters must not subscribe less than
35% of the total shares. the promoters’ shares are restricted to transfer-
within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes permit business scope: manufacturing and selling pesticide;
manufacturing and selling hazardous chemicals (operating range should according
to safety production license); (pesticide production license is valid as of
Jul. 25, 2015, dangerous chemicals production license is valid as of Apr. 11,
2015). Normal business scope: research, development, marketing, application of
the biological pesticide (excluding production); crops, pest and disease
control; efficient agriculture development; import and export of goods and
technology (prohibited by the laws and regulations should not operate). (with
permit if needed).
SC is mainly
engaged in manufacturing and selling pesticide.
Mr. Ma
Xiuzhen is legal representative and
chairman of SC at present.
SC is known
to have approx. 600 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 Laixi. Our checks reveal
that SC owns the total premise about 20,000 square meters.
SC
is known to have an office in Area A, Building 3 Shilaoren Innovation Park, No.
143 Zhuzhou Road, Laoshan District, Qingdao.
http://www.qdhansen.com
The website can't be landed at present.
Email: hr@qdhansen.com
Changes
of its registered information are as follows:
|
Date |
Item |
Before the
change |
After the change |
|
2009-10 |
Shareholders |
Qingdao Wolun Weier Investment Co., Ltd.
28%; Shandong Laixi Oriental Agricultural
Producing Materials Co., Ltd. 28.04%; Qingdao Dongsheng Investment Development
Co., Ltd. 20.61%; 20.61
22.39 Qingdao Hongda Investment Management Co.,
Ltd. 10.54%; Qingdao Thermoelectricity Group Jinlai Thermoelectricity Co.,
Ltd. 4.11%; Qingdao Tianbao Property Co., Ltd. 3.57%; Qingdao New Foodstuffs
Co., Ltd. 1.57%; Qingdao Aipusheng Chemical Co., Ltd. 1.78%; Shu Anqi0.89%; Ma Mingke 0.89% |
Qingdao Wolun Weier Investment Co., Ltd. 28%;
Shandong Laixi Oriental Agricultural Producing Materials Co., Ltd. 28.04%; Qingdao Dongsheng Investment Development
Co., Ltd. 22.39%; Qingdao Hongda Investment Management Co.,
Ltd. 10.54%; Qingdao Thermoelectricity Group Jinlai Thermoelectricity Co., Ltd.
4.11%; Qingdao Tianbao Property Co., Ltd. 3.57%; Qingdao New Foodstuffs Co.,
Ltd. 1.57%; Shu Anqi0.89% Ma Mingke 0.89% |
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2010 |
Registered Capital |
CNY 56,000,000 |
Present amount |
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Shareholders & shareholdings |
Qingdao Wolun Weier Investment Co., Ltd.
28%; Shandong Laixi Oriental Agricultural
Producing Materials Co., Ltd. 28.04%; Qingdao Dongsheng Investment Development
Co., Ltd. 22.39%; Qingdao Hongda Investment Management Co.,
Ltd. 10.54%; Qingdao Thermoelectricity Group Jinlai
Thermoelectricity Co., Ltd. 4.11%; Qingdao Tianbao Property Co., Ltd. 3.57%;
Qingdao New Foodstuffs Co., Ltd. 1.57%; Shu Anqi0.89% Ma Mingke 0.89% |
Beijing Zhongnong Licheng Management
Consulting Co., Ltd. 1.75% Qingdao Dongsheng Investment Development
Co., Ltd. 22% Qingdao Hongda Investment Management Co.,
Ltd. 10.35% Qingdao Thermoelectricity Group Jinlai
Thermoelectricity Co., Ltd. 4.04% Qingdao Tianbao Property Co., Ltd. 3.51% Qingdao Wolun Weier Investment Co., Ltd.
27.51% Qingdao New Foodstuffs Co., Ltd. 1.54% Shandong Laixi Oriental Agricultural
Producing Materials Co., Ltd.27.54% Shu Anqi0.88% Ma Mingke 0.88% |
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|
2012-3 |
Shareholders & shareholdings |
Beijing Zhongnong Licheng Management
Consulting Co., Ltd. 1.75% Qingdao Dongsheng Investment Development
Co., Ltd. 22% Qingdao Hongda Investment Management Co.,
Ltd. 10.35% Qingdao Thermoelectricity Group Jinlai
Thermoelectricity Co., Ltd. 4.04% Qingdao Tianbao Property Co., Ltd. 3.51% Qingdao Wolun Weier Investment Co., Ltd.
27.51% Qingdao New Foodstuffs Co., Ltd. 1.54% Shandong Laixi Oriental Agricultural
Producing Materials Co., Ltd. 27.54% Shu Anqi0.88% Ma Mingke 0.88% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shandong Laixi Oriental Agricultural
Producing Materials Co., Ltd. 27.54
Qingdao Wolun Weier Investment Co., Ltd. 27.51
Qingdao Dongsheng Investment Development
Co., Ltd. 22
Qingdao Hongda Investment Management Co.,
Ltd. 12.11
Qingdao Thermoelectricity Group Jinlai
Thermoelectricity Co., Ltd. 4.04
Qingdao Tianbao Property Co., Ltd. 3.51
Beijing Zhongnong Licheng Management
Consulting Co., Ltd. 1.75
Qingdao New Foodstuffs Co., Ltd. 1.54
Shandong Laixi Oriental Agricultural Producing
Materials Co., Ltd.
================================
Registration No.: 370285228019860
Incorporation Date:
Chairman: Zeng Xianfeng
Registered Capital: CNY 10,000,000
Qingdao Wolun Weier Investment Co., Ltd.
===============================
Registration No.: 370285228033697
Chairman: Wu Yuemei
Registered Capital: CNY 10,000,000
Qingdao Dongsheng Investment Development
Co., Ltd.
========================================
Registration No.: 370285228003255
Chairman: Ma Xiuzhen
Registered Capital: CNY 5000000
Tel: 0532-88485092
Qingdao Hongda Investment Management Co.,
Ltd.
=====================================
Registration No.: 370285230002101
Chairman: Zhang Weiliang
Registered Capital: CNY 5,900,000
l
Legal representative and Chairman:
Mr. Ma Xiuzhen , born in 1958, with university education. 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 Qingdao
Dongsheng Investment Development Co., Ltd. as legal representative
SC is mainly
engaged in manufacturing and selling pesticide.
SC’s products mainly include insecticide, germicide, acaricide and
herbicide, etc.
SC sources its materials 90% from domestic
market, and 10% from overseas market, mainly Germany and Korea. SC sells 85% of
its products in domestic market, and 15% to overseas market, mainly South
Africa 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’s
management declined to release its main clients and suppliers.
SC
is known to have the following subsidiaries:
Qingdao
Dongsheng Pharmaceutical Co., Ltd.
=================================
Registration
No.: 370283018002853
Incorporation
Date:
Chairman:
Zhang Weiliang
Registered
Capital: CNY 16,000,000
Web:
http://www.qddongsheng.cn/
Tel.:
0532-85825511
Fax:
0532-85825500
Shandong
Binhai Hansen Biologic Technology Co., Ltd.
=========================================
Registration
No.: 370727000000047
Qingdao
Hansen Plant Nutrition Technology Co., Ltd.
=======================================
Registration
No.: 370212020000633
Incorporation
Date:
Chairman:
Registered
Capital: CNY 5,000,000
Web:
http://www.qdhanplant.cn/
Tel.:
0532-68870168
Fax:
0532-68870167
Etc.
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.
Agricultural Bank of China Laixi Sub-branch
AC#：150101040008173
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
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Cash & bank |
74,180 |
89,450 |
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Inventory |
98,320 |
113,160 |
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Accounts
receivable |
0 |
24,290 |
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Advances to
suppliers |
31,820 |
6,770 |
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Other
receivables |
41,900 |
62,170 |
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Notes receivable |
2,080 |
630 |
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Other current
assets |
0 |
0 |
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------------------ |
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Current assets |
248,300 |
296,470 |
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Fixed assets net
value |
67,620 |
77,630 |
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Projects under
construction |
2,140 |
5,700 |
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Long term
investment |
39,080 |
39,080 |
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Long-term
prepaid expenses |
0 |
250 |
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Intangible
assets |
0 |
32,030 |
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Other assets |
27,630 |
0 |
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Total assets |
384,770 |
451,160 |
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============= |
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Short loans |
90,350 |
123,350 |
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Accounts payable |
10,960 |
20,220 |
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Notes payable |
0 |
126,200 |
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Other payable |
37,010 |
37,420 |
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Taxes payable |
-10,480 |
-12,790 |
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Advances from
clients |
29,290 |
0 |
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Other current
liabilities |
80,000 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
237,130 |
294,400 |
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Long term
liabilities |
63,090 |
44,000 |
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Other
liabilities |
0 |
23,700 |
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------------------ |
------------------ |
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Total
liabilities |
300,220 |
362,100 |
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Equities |
84,550 |
89,060 |
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------------------ |
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Total
liabilities & equities |
384,770 |
451,160 |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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Turnover |
297,150 |
320,200 |
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Cost of goods sold |
252,350 |
275,830 |
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Tax and associate charge |
330 |
400 |
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Sales expense |
1,860 |
2,160 |
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Management expense |
28,840 |
30,070 |
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Finance expense |
5,640 |
10,410 |
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Non-operating
income |
270 |
4,350 |
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Non-operating expense |
680 |
140 |
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Profit before
tax |
7,720 |
5,540 |
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Less: profit tax |
1,160 |
830 |
|
Profits |
6,560 |
4,710 |
Important Ratios
=============
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as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
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*Current ratio |
1.05 |
1.01 |
|
*Quick ratio |
0.63 |
0.62 |
|
*Liabilities
to assets |
0.78 |
0.80 |
|
*Net profit
margin (%) |
2.21 |
1.47 |
|
*Return on
total assets (%) |
1.70 |
1.04 |
|
*Inventory
/Turnover ×365 |
121 days |
129 days |
|
*Accounts
receivable/Turnover ×365 |
0 |
28 days |
|
*Turnover/Total
assets |
0.77 |
0.71 |
|
* Cost of
goods sold/Turnover |
0.85 |
0.86 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears fairly large in both
years.
l
SC has no accounts receivable in 2010, and it
appears average in 2011.
l
SC’s short-term loan appears large in both years.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
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. The large amount of inventory and short-term loan could be a threat
to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.66 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.