MIRA
INFORM REPORT
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Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ANHUI FENGLE PERFUME CO., LTD. |
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Registered Office : |
No. 1, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.12.1997 |
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Com. Reg. No.: |
340106000005045 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
manufacturing, processing and selling essence and perfume |
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No. of Employees : |
168 |
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
|
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 |
Since the late 1970s
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Source
: CIA |
Company name & address
ANHUI FENGLE PERFUME CO., LTD.
NO. 1,
TEL: 86 (0)
551-5320378
FAX: 86 (0)
551-5316868
EXECUTIVE SUMMARY
Date of Registration : december 5, 1997
REGISTRATION NO. : 340106000005045
LEGAL FORM : one-person Limited liabilities company
REGISTERED CAPITAL :
CNY 45,000,000
staff : 168
BUSINESS CATEGORY :
manufacturing & processing & trading
Revenue : CNY 439,044,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 66,281,000 (AS OF DEC. 31, 2011)
WEBSITE : www.fengleperfume.com
E-MAIL : business@fengleperfume.com
PAYMENT : AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.39 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY –
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
LEGAL STATUS & HISTORY
SC was
established as one-person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 340106000005045.
SC’s Organization Code Certificate
No.: 14902264-6
SC’s registered capital: CNY 45,000,000
SC’s paid-in capital: CNY 45,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
-- |
Registration
No. |
3401001006820 |
340106000005045 |
|
2011 |
Registered Capital |
CNY 35,000,000 |
CNY 45,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Hefei Fengle Seed Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Chen Dongchen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Hefei Fengle Seed Co., Ltd. 100
-----------------------------------
Hefei Fengle Seed Co., Ltd. is the first
listed (Shenzhen Stock Exchange, Code 000713) seed company in
Date of Registration: June 16, 1984
Registration No.: 340000000015283
Legal Form: Shares limited
company
Registered Capital: CNY 298,876,000
Address: Fengle Building, No. 501 Changjiang
West Road, Hefei, Anhui Province
Tel: 86
0551-2239955
Fax: 86
0551-2239957
MANAGEMENT
Chen Dongchen, Legal Representative, Chairman, and General
Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman, and general manager
Also working in Hefei Fengle Seed Co., Ltd. as vice general manager
BUSINESS OPERATION
SC’s registered
business scope includes manufacturing and processing essence, perfume, selling
self-made products, international trade, selling agricultural and sideline
products, cereals, oils, and cotton.
SC is mainly
engaged in manufacturing, processing and selling essence and perfume.
Brand: Fengle.
SC’s products
mainly include: essence, perfume, cereals and oils.
SC sources its materials 100% from domestic
market, mainly Anhui. SC sells 80% of its products in domestic market, and 20%
to overseas market, mainly Europe and Southeast Asian market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Supplier
--------------------
Anhui Taihe County Chengxin Perfume Co., Ltd.
Hefei Fengle Seed Co., Ltd.
*Major Customer
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Fuerst Diy Lawson Ltd. (U.K.)
Staff & Office:
--------------------------
SC is
known to have approx. 168 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’s suppliers
declined to make any comments.
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
Huishang Bank Hefei Branch
AC#: 2081012080014911
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
|
24,710 |
|
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Notes receivable |
0 |
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Accounts
receivable |
43,150 |
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Advances to
suppliers |
0 |
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Other receivable |
1,100 |
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Inventory |
43,630 |
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Non-current
assets within one year |
0 |
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Other current
assets |
18,180 |
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------------------ |
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Current assets |
130,770 |
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Fixed assets |
9,210 |
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Construction in
progress |
0 |
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Intangible
assets |
0 |
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Long-term
investment |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
2,710 |
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|
------------------ |
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Total assets |
142,690 |
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============= |
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Short-term loans |
45,870 |
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Notes payable |
0 |
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Accounts payable |
10,060 |
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Welfares payable |
0 |
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Taxes payable |
0 |
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Advances from
clients |
0 |
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Other payable |
32,600 |
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Other current
liabilities |
880 |
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------------------ |
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Current
liabilities |
89,410 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
89,410 |
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Equities |
53,280 |
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------------------ |
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Total
liabilities & equities |
142,690 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2009 |
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Revenue |
242,960 |
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Cost of sales |
226,990 |
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Sales expense |
4,040 |
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Management expense |
3,400 |
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Finance expense |
1,100 |
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Profit before
tax |
7,330 |
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Less: profit tax |
1,100 |
|
6,230 |
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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Long term investment |
0 |
0 |
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Total assets |
171,230 |
187,491 |
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------------- |
------------- |
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Total
liabilities |
103,859 |
121,210 |
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Equities |
67,371 |
66,281 |
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------------- |
------------- |
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Revenue |
328,154 |
439,044 |
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Profits |
14,923 |
25,500 |
Note: The detailed financials for 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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*Current ratio |
1.46 |
-- |
-- |
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*Quick ratio |
0.97 |
-- |
-- |
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*Liabilities
to assets |
0.63 |
0.61 |
0.65 |
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*Net profit
margin (%) |
2.56 |
4.55 |
5.81 |
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*Return on
total assets (%) |
4.37 |
8.72 |
13.60 |
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*Inventory /
Revenue ×365 |
66 days |
-- |
-- |
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*Accounts
receivable/ Revenue ×365 |
65 days |
-- |
-- |
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*
Revenue/Total assets |
1.70 |
1.92 |
2.34 |
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* Cost of
sales / Revenue |
0.93 |
-- |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears
fairly good in its line, and it increased year by year.
l
SC’s net profit margin is fairly good in three
years.
l
SC’s return on total assets is fairly good in three
years.
l
SC’s cost of sales is high, comparing with its revenue in 2009.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level in 2009.
l
SC’s quick ratio is maintained in a normal level in
2009.
l
The inventory of SC appears average in 2009.
l
The accounts receivable of SC is maintained in an
average level in 2009.
l
The short-term loans of SC appear large in 2009.
l
SC’s revenue is in an
average level, 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 Good.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly good financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.72 |
|
UK Pound |
1 |
Rs.88.60 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.