MIRA
INFORM REPORT
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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
QINHUANGDAO JINJIA FLOCCULANT CO., LTD. |
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Registered Office : |
No. 14, Liupanshan Road, Economic & Technological Development Zone, Qinhuangdao City, Hebei Province, 066004 Pr |
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Country : |
China |
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Date of Incorporation : |
25.03.2001 |
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Com. Reg. No.: |
130301000013030 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling flocculant. |
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No. of Employees : |
50 |
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 : |
Unknown |
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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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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
QINHUANGDAO JINJIA
FLOCCULANT CO., LTD.
NO. 14, LIUPANSHAN ROAD, ECONOMIC &
TECHNOLOGICAL DEVELOPMENT ZONE, QINHUANGDAO CITY, HEBEI PROVINCE, 066004 PR
CHINA
TEL: 86 (0) 335-8500966
FAX: 86 (0) 335-8500609
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAR. 25, 2001
REGISTRATION NO. :
130301000013030
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. QI SHUWEN (CHAIRMAN)
STAFF STRENGTH :
50
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2228 = 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
Note: SC is also known as Jinjia Limited Company of
Qinhuangdao.
SC was registered as a limited liabilities co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on Mar. 25, 2001.
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 manufacturing polyacrylamide, and
guar gum; exporting self-made products, and importing machinery and equipment,
spare parts, raw and auxiliary materials used for self-production (excluding
the goods and technology prohibited or limited by the country).
SC is mainly
engaged in manufacturing and selling flocculant.
Mr. Qi Shuwen has
been legal representative, chairman and general manager of SC since 2001.
SC is known to have approx. 50 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the economic & technological development
zone of Qinhuangdao. SC’s management declined to release the detailed
information of the premise.
http://www.jinjiaxnj.com/
The design is professional and the content is well organized. At present it is
in Chinese version.
E-Mail: jinjiaxnj@163.com
SC has obtained ISO 9001 certificate, SC was also honored as “Hi-Tech
Enterprise”.
Changes of its
registered information:
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Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 1,000,000 |
CNY 3,000,000 |
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Shareholders |
Hou Jun 15% Hou Gentao 13.33% Guo Desheng 1.67% Qi Shuwen 70% |
Hou Jun 28.33% Qi Shuwen 71.67% |
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Unknown |
Registration No. |
1303012000513 |
Present one |
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Registered capital |
CNY 3,000,000 |
Present amount |
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Shareholdings |
Hou Jun 28.33% Qi Shuwen 71.67% |
Present ones |
MAIN SHAREHOLDERS:
Name % of Shareholding
Hou Jun
ID#
132903621021592
10
Qi Shuwen
ID# 132903621107591 90
l
Legal representative, chairman and
general manager:
Mr. Qi Shuwen , ID# 132903621107591, born in 1962. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2001 to
present Working in SC as
chairman, general manager and legal representative
Supervisor:
………….
Hou Gentao
ID# 130982198101015754
SC is mainly
engaged in manufacturing and selling flocculant.
SC’s products mainly include: food grade guar powder, hydroxypropyl guar
gum, polyacrylamide, polyacrylamide emulsion, pre-crosslinking agent body
swelling particle profile, high-absorbent resin, carboxymethyl cellulose (CMC),
polyacrylamide potash, oil chemical additives, drilling mud materials, etc.
SC sources its materials 90% from domestic market and 10% from overseas
market. SC sells 70% of its products to overseas market and 30% 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.
Note: SC’s
management refused to release its main suppliers and clients.
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.
SC’s management declined to release whether it has account in Bank of
China.
SC’s management
declined to release any financial information.
SC is considered small-sized in its line with 12 years operation
history. Taking into consideration of SC’s operation size as well as market
conditions, credit confined into small 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.53.77 |
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1 |
Rs.81.57 |
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Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.