MIRA
INFORM REPORT
|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHANGZHOU KOYE CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
Room 1116-1117 Eco Business Plaza, No. 66 East Guanhe Road,
Tianning District, Changzhou, Jiangsu Province, 213000 Pr |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.06.2010 |
|
|
|
|
Com. Reg. No.: |
320400000037399 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
selling chemical products |
|
|
|
|
No. of Employees : |
18 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Since the late 1970s
|
Source : CIA |
Company name & address
changzhou koye chemical co., ltd.
room 1116-1117
TEL: 86 (0)
519-88172210/ 88178050 FAX: 86 (0)
519-88172212
EXECUTIVE SUMMARY
INCORPORATION DATE : june 13, 2010
REGISTRATION NO. : 320400000037399
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
18
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE : trading
TURNOVER : CNY 86,000,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 7,330,000 (AS OF DEC. 31, 2011)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.22 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 June 13, 2010.
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 certified business items: operation of the business
scope approved by dangerous chemical business certificate. Normal operating
projects: selling chemical raw materials, hardware, machinery, textiles,
building materials, operating and acting as an agent of importing and exporting
various kinds of commodities and technology, excluding the goods forbidden by
the government, information consultation service.
SC is mainly
engaged in selling chemical products.
Mr. Jiang Chengyu
has been legal representative, chairman and general manager of SC since 2010.
SC is known to
have approx. 18 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Changzhou. Our checks reveal that SC
rents the total premise about 200 square meters.
http://www.koyechem.com/ The
design is professional and the content is well organized. At present the web site
is both in Chinese and English versions.
E-mail: kw@keweichem.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Changzhou Jiaerke Pharmaceuticals Group Corp., Ltd. 51
Jiang Chengyu (ID# 32050319670622251X) 25
Liu Hongqing (ID# 320421197811105210) 12
Shen Wenju
(ID# 310107195210244675) 4
Shi Qinghao
(ID# 321181197812018611) 4
Zou Liqing (ID# 324021197502055424) 4
Changzhou
Jiaerke Pharmaceuticals Group Corp., Ltd.
========================================
Changzhou Jiaerke Pharmaceuticals Group
Corp., Ltd. is a professional pharmaceuticals company, with more than 20 years
of experiences in producing steroid hormone products and other organic chemical
products.
Add:
Tel: +86-519-88731706
Fax: +86-519-88736500
E-mail: sales@jiaerke.com
Legal
representative, Chairman and General Manager:
Mr. Jiang Chengyu, born in 1967, with university education. He is currently responsible for the overall management of SC.
Working
Experience(s):
From 2010 to present Working
in SC as legal representative, chairman and general manager
Supervisor:
Yue Junfa (ID# 320421195508085238)
SC is mainly
engaged in selling chemical products.
SC’s products
mainly include: HEDP, Na4HEDP, ATMP, Na5ATMP, DETPMP, Na7DETPMP, EDTMPS5Na,
PAPE, PBTC, HPMA, and etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market, mainly
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its main 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 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
AC#：10604201040023016
Relationship:
Balance Sheet
Unit: CNY’000
|
|
as
of Jun. 30, 2011 |
as
of Dec. 31, 2011 |
|
Cash & bank |
890 |
5,290 |
|
Inventory |
4,850 |
2,480 |
|
Accounts
receivable |
3,560 |
7,890 |
|
Notes receivable |
0 |
600 |
|
Advances to
supplies |
4,040 |
0 |
|
Other
receivables |
380 |
2,230 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
13,720 |
18,490 |
|
Fixed assets net
value |
160 |
140 |
|
Projects under
construction |
0 |
0 |
|
Long-term
investments |
0 |
0 |
|
Other assets |
260 |
30 |
|
|
------------------ |
------------------ |
|
Total assets |
14,140 |
18,660 |
|
|
============= |
============= |
|
Short loans |
0 |
0 |
|
Accounts payable |
3,750 |
11,380 |
|
Advances from
customers |
1,690 |
0 |
|
Taxes payable |
-50 |
-70 |
|
Other Accounts
payable |
3,470 |
20 |
|
Other
current liabilities |
430 |
0 |
|
|
----------------- |
------------------ |
|
Current
liabilities |
9,290 |
11,330 |
|
Long term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
9,290 |
11,330 |
|
Shareholders
equities |
4,850 |
7,330 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
14,140 |
18,660 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
Jan. 1 to Jun. 30, 2011 |
as of Dec. 31,
2011 |
|
Turnover |
16,510 |
86,000 |
|
Cost of goods sold |
14,540 |
80,000 |
|
Sales expense |
950 |
770 |
|
Management expense |
1,010 |
2,590 |
|
Finance expense |
0 |
660 |
|
Profit before
tax |
-140 |
1,820 |
|
Less: profit tax |
0 |
470 |
|
Net profit |
-140 |
1,350 |
Important Ratios
=============
|
|
as
of Jun. 30, 2011 |
as
of Dec. 31, 2011 |
|
*Current ratio |
1.48 |
1.63 |
|
*Quick ratio |
0.95 |
1.41 |
|
*Liabilities
to assets |
0.66 |
0.61 |
|
*Net profit
margin (%) |
-0.85 |
1.57 |
|
*Return on
total assets (%) |
-0.99 |
7.23 |
|
*Inventory
/Turnover ×365 |
-- |
11 days |
|
*Accounts
receivable/Turnover ×365 |
-- |
34 days |
|
*Turnover/Total
assets |
1.17 |
4.61 |
|
* Cost of
goods sold/Turnover |
0.88 |
0.93 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line in
2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is fairly good in 2011.
l
SC’s cost of goods sold is fairly high in 2011,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in 2011.
l
SC’s turnover is in a fairly good level in 2011,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition
of the SC: Fairly Stable.
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.