MIRA
INFORM REPORT
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Report Date : |
25.10.2012 |
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Tel. No.: |
86-536-8190263 |
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Fax No.: |
86-536-8234665 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG HAITIAN BIOCHEMICAL CO., LTD. |
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Registered Office : |
No. 1 Jinjing Road, Buzhuang Town, Changyi, Weifang
Shandong Province 261300 Pr |
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Country : |
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Financials (as on) : |
31.31.12.2011 |
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Date of Incorporation : |
12.09.2003 |
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Com. Reg. No.: |
370786018624522 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Manufacturing and selling biochemical products. |
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No. of Employees : |
1,500 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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
SHANDONG HAITIAN BIOCHEMICAL CO., LTD.
NO. 1 JINJING ROAD, BUZHUANG TOWN, CHANGYI, WEIFANG
SHANDONG PROVINCE 261300 PR CHINA
TEL: 86 (0) 536-7857066
FAX: 86 (0) 536-7857258
EXECUTIVE SUMMARY
Date of Registration : SEPTEMBER 12, 2003
REGISTRATION NO. : 370786018624522
LEGAL FORM : ONE-PERSON LIMITED
LIABILITY COMPANY
CHIEF EXECUTIVE :
WANG
GANG (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 1,369,116,810
staff :
1,500
BUSINESS CATEGORY : manufacturing
Total assets :
CNY 2,599,904,000 (AS OF DEC. 31, 2011)
Profits :
CNY 203,739,000 (AS OF DEC. 31, 2011)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIRly STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.25 = 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
***Note: SC’s
contact ways should be the heading one, while the given ones
(86-536-8190263/8234665) belongs to the bank.
SC was established as a limited liabilities company of PRC on September
12, 2003. However, SC changed to present legal form, and was registered as
one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 370786018624522 in 2007.
SC’s Organization Code Certificate No.:
75446217-2
SC’s registered capital: CNY 1,369,116,810
SC’s paid-in capital: CNY 1,369,116,810
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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Legal Representative |
Wang Gang |
Liu Shijun |
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Shareholder (s) (% of Shareholding) |
Jinjing (Group) Co., Ltd. 90% Zibo Louyi Filming Co., Ltd. 10% |
Jinjing (Group) Co., Ltd. 5% Liu Shijun 35% Yao Qi 30% Nie Feng 30% |
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Legal Representative |
Liu Shijun |
Wang Gang |
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Shareholder (s) (% of Shareholding) |
Jinjing (Group) Co., Ltd. 5% Liu Shijun 35% Yao Qi 30% Nie Feng 30% |
Jinjing (Group) Co., Ltd. 90% Zibo Zhongqi Building Materials Co., Ltd. 10% |
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Legal Representative |
Wang Gang |
Zhu Yongqiang |
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Shareholder (s) (% of Shareholding) |
Jinjing (Group) Co., Ltd. 90% Zibo Zhongqi Building Materials Co., Ltd. 10% |
Jinjing (Group) Co., Ltd. 39% Zibo Zhongqi Building Materials Co., Ltd. 10% Shandong Jinjing Science & Technology Stock Co., Ltd. 51% |
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Shareholder (s) (% of Shareholding) |
Jinjing (Group) Co., Ltd. 39% Zibo Zhongqi Building Materials Co., Ltd. 10% Shandong Jinjing Science & Technology Stock Co., Ltd. 51% |
Shandong Jinjing Science & Technology Stock Co., Ltd. 51% Dongying Chunxing Salt Chemical Co., Ltd. 49% |
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Registered Capital |
CNY 80,000,000 |
CNY 400,000,000 |
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% of Shareholding |
Shandong Jinjing Science & Technology Stock Co., Ltd. 51% Dongying Chunxing Salt Chemical Co., Ltd. 49% |
Shandong Jinjing Science & Technology Stock Co., Ltd. 90.2% Dongying Chunxing Salt Chemical Co., Ltd. 9.8% |
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Registered Capital |
CNY 400,000,000 |
CNY 1,369,116,810 |
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% of Shareholding |
Shandong Jinjing Science & Technology Stock Co., Ltd. 90.2% Dongying Chunxing Salt Chemical Co., Ltd. 9.8% |
Shandong Jinjing Science & Technology Stock Co., Ltd. 97.14% Dongying Chunxing Salt Chemical Co., Ltd. 2.86% |
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Legal Representative |
Zhu Yongqiang |
Wang Gang |
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Shareholder (s) (% of Shareholding) |
Shandong Jinjing Science & Technology Stock Co., Ltd. 97.14% Dongying Chunxing Salt Chemical Co., Ltd. 2.86% |
Shandong Jinjing Science & Technology Stock Co., Ltd. 100% |
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Legal Form |
Limited liability company |
One-person Limited Liability Company |
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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Shandong Jinjing Science & Technology Stock Co., Ltd. |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Wang Gang |
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General Manager |
Zhang Ming |
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Director |
Zhu Yongqiang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name % of Shareholding
Shandong Jinjing Science & Technology Stock Co., Ltd. 100
Shandong Jinjing
Science & Technology Stock Co., Ltd.
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Shandong Jinjing Science & Technology Stock Co., Ltd. is a listed
company in Shanghai Stock Exchange Market with the code of 600586.
Date of Registration: December 31, 1999
Registration No.: 370000018049151
Legal Form: Shares
Limited Company
Chief Executive: Wang Gang王刚
Registered Capital: CNY 1,422,710,000
Add: Wangzhuang, Baoshi Town, Hi-new Technology Development Zone, Zibo,
Shandong Province.
Tel: 0533-3586666
Web: www.cnggg.cn
MANAGEMENT
Wang Gang , Legal
Representative and Chairman
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Gender: M
Age: 52
Qualification: MBA
Working experience (s):
From 2007 to present, working in SC as legal representative and
chairman, also working in Shandong Jinjing Science & Technology Stock Co.,
Ltd., Jinjing (Group) Co., Ltd. as legal representative
Zhang Ming,
General Manager
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as general manager
Director
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Zhu Yongqiang
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and selling
industrial soda, sodium bicarbonate, sodium metasilicate and calcium chloride; importing
and exporting commodities and technologies, excluding export
commodities limited or prohibited by the state.
SC is mainly engaged in manufacturing and selling biochemical products.
SC’s products mainly include: industrial soda, sodium bicarbonate,
sodium metasilicate and calcium chloride.
SC sources its materials 90% from domestic market and 10% from the
overseas market. SC sells 30% of its products to overseas market, mainly U.S.A., and 70% in domestic 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.
*Major Customer:
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Manuchar Honduras S.A. De C.V. (U.S.A.)
Staff &
Office:
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SC is known to have approx. 1,500 staff at present.
SC rents an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
The bank information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
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Total assets |
2,617,731 |
2,482,067 |
2,599,904 |
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Profits |
-55,198 |
65,564 |
203,739 |
Note: The detailed financials for Y2009 & Y2010 & Y2011 are not
available in SAIC.
Important Ratios
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As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
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*Return on total assets (%) |
-2.11 |
2.64 |
7.84 |
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.59 |
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1 |
Rs.85.81 |
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Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.