MIRA
INFORM REPORT
|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LINXIA HUAAN BIOLOGICAL PRODUCTS LIMITED
COMPANY |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
28.12.2001 |
|
|
|
|
Com. Reg. No.: |
622900200001725 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
processing and selling of
dairy products, cold drinks, cream series, casein,
casein glue series and cashmere textiles |
|
|
|
|
No. of Employees : |
220 |
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 : |
Unknown |
|
|
|
|
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 2012 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 under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
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 & address
Linxia Huaan Biological Products Limited
Company
no. 26 binhe east road, linxia, gansu province 731100 PR CHINA
TEL: 86 (0) 930-6313316/6319912
FAX: 86 (0) 930-6319912
***Note: SC’s telephone
numbers should be the heading ones, while the given numbers (86 (0)
931-8457002/8454606) belong to SC’s sales department in Lanzhou, Gansu
Province.
EXECUTIVE
SUMMARY
Date of
Registration : december 28, 2001
REGISTRATION NO. : 622900200001725
LEGAL FORM : Limited liabilities company
CHIEF
EXECUTIVE : ma zhian (LEGAL
REPRESENTATIVE)
REGISTERED
CAPITAL :
cny 46,860,000
staff : 220
BUSINESS
CATEGORY :
processing & trading
Revenue : n/a (AS OF DEC. 31, 2012)
EQUITIES : n/a (AS OF DEC. 31, 2012)
WEBSITE : www.yak-casein.com
E-MAIL : casein@yak-casein.com
PAYMENT
: AVERAGE
MARKET
CONDITION : average
FINANCIAL
CONDITION : n/a
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : average
EXCHANGE
RATE : CNY 6.10 = 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
LEGAL
STATUS & HISTORY
SC was established as a limited
liabilities company of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 622900200001725 on December 28,
2001.
SC’s Organization Code
Certificate No.: 71909882-X
SC’s registered capital: cny 46,860,000
SC’s paid-in capital: cny 46,860,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registered Capital |
CNY 21,860,000 |
cny 46,860,000 |
Current Co search indicates SC’s
shareholders & chief executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Ma
Zhian |
82.29 |
|
Ma
Zhihai |
12.63 |
|
Ma
Zhihua |
4.48 |
|
Mahai
Bibu |
0.58 |
|
Ma
Wenjun |
0.02 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal
Representative, Chairman and General Manager |
Ma
Zhian |
|
Supervisor |
Ma
Chengliang |
RECENT
DEVELOPMENT
No recent development was found during our
checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Ma Zhian 82.29
Ma Zhihai 12.63
Ma Zhihua 4.48
Mahai Bibu 0.58
Ma Wenjun 0.02
MANAGEMENT
Ma Zhian, Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------
·
Gender:
M
Working experience (s):
At present, working in SC as legal
representative, chairman and general manager
Ma Chengliang, Supervisor
-----------------------------------------------
·
Gender:
M
BUSINESS OPERATION
SC’s registered business scope includes
processing and selling dairy products, cold drinks, cream series, casein, casein glue series and cashmere textiles; selling its
products & technology; importing and exporting its raw materials &
accessories, machinery, and technology; processing with imported materials,
processing with imported samples, assemblying with imported parts, and
compensation trade in agreement.
SC is mainly engaged in processing and selling dairy products, cold drinks, casein, casein glue series.
SC’s products mainly include:
Casein Series
Cream series
Casein Adhesive
SC sources
its materials 100% from domestic market. SC sells 60% of its products in
domestic market, and 40% to overseas market, mainly U.S.A., etc.
The buying terms of SC include
Check, T/T and Credit of 30-60 days. The payment terms of SC include Check,
T/T, L/C and Credit of 30-60 days.
*Major Client*
------------------
American Casein Co.
Staff & Office:
--------------------------
SC is known to
have approx. 220 staff at
present.
SC owns an area as its operating office and
factory, but the detailed information is unknown.
RELATED COMPANY
Kazakhstan Huaan Biological Co., Ltd.
Xinjiang Emin Taan Casein Co., Ltd.
Linxia Xiaxing Modern Cow Breeding Co., Ltd.
Sales Department
Address: Building C, 14/F Wansheng
Commercial Mansion, No. 488, Qingyang Road, Lanzhou, Gansu Province
Tel: +86 931 8457002
Fax: +86 931 8454606
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
local SAIC.
FINANCIALS
SC’s financials are not filed in local SAIC,
and SC also refused to release the details.
cONCLUSIONS
SC is considered medium-sized in
its line with 12 years business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
UK Pound |
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.43 |
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.