MIRA INFORM REPORT

Report Date :

16.09.2013

IDENTIFICATION DETAILS

Name :	hangzhou jihua import & export co., ltd.
Registered Office :	Hongshan Farm, Xiaoshan District, Hangzhou City Zhejiang Province 311234 Pr
Country :	China
Financials (as on) :	31.12.2010
Date of Incorporation :	27.12.2000
Com. Reg. No.:	330181000067807
Legal Form :	Limited Liabilities Company
Line of Business :	Exporting Dyestuffs

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 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
China	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

hangzhou jihua import & export co., ltd.

HONGSHAN FARM, XIAOSHAN DISTRICT, HANGZHOU CITY

ZHEJIANG PROVINCE 311234 PR CHINA

TEL: 86 (0) 571-22898000/22898080 FAX: 86 (0) 571-22898555/22898666

EXECUTIVE SUMMARY

INCORPORATION DATE : dec. 27, 2000

REGISTRATION NO. : 330181000067807

REGISTERED LEGAL FORM : limited liabilities company

CHIEF EXECUTIVE : Mr. ying haijun (chairman)

STAFF STRENGTH : 36

REGISTERED CAPITAL : cny 10,000,000

BUSINESS LINE : trading

TURNOVER : CNY 411,300,000 (UNaudited, AS OF DEC. 31, 2010)

EQUITIES : CNY 22,770,000 (UNaudited, AS OF DEC. 31, 2010)

PAYMENT : average

RECOMM. CREDIT RANGE : up to usd 100,000

MARKET CONDITION : COMPETITIVE

FINANCIAL CONDITION : fairLY STABLE

OPERATIONAL TREND : fairly steady

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : CNY 6.37 = 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 Ren Min Bi

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 was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Dec. 27, 2000.

SC’s registered business scope includes importing and exporting commodities & technology; processing with imported materials, processing with imported samples, assembling with imported parts, and compensation trade in agreement; barter trade & transit trade.

SC is mainly engaged in exporting dyestuffs.

Mr. Ying Haijun ( has been chairman and general manager of SC since 2000.

SC is known to have approx. 36 employees at present.

SC is currently operating at the above stated address, and this address houses its operating office in the industrial zone of Hangzhou. Our checks reveal that SC rents the total premise, but SC’s accountant refused to release the gross area of the premise.

www.jihuadyes.com The website belongs to Zhejiang Jihua Group Co., Ltd., and it includes the introduction and contact information about SC and related companies. The design is professional and the content is well organized. At present the web site is in both Chinese and English versions.

Changes of its registered information:

Date of change	Item	Before the change	After the change
Unknown	Registration No.	3301811410135	Present one

MAIN SHAREHOLDERS:

Name % of Shareholding

Zhejiang Jihua Group Co., Ltd. 90

Yang Quanming 10

Zhejiang Jihua Group Co., Ltd.

======================

Incorporation Date : Aug. 15, 2003

Registration No. : 3300001009972

Registered Legal Form : Limited Liabilities Company

Chief Executive : Mr. Shao Bojin

Address: Hongshan Farm, Xiaoshan, Hangzhou, Zhejiang Province

Tel: +86-571-22898388

Fax: +86-571-22898600

E-mail: jh@jihuadyes.com

l Chairman and General Manager:

Mr. Ying Haijun , with university education. He is currently responsible for the overall management of SC.

Working Experience(s):

From 2000 to present Working in SC as chairman and general manager.

SC is mainly engaged in exporting dyestuffs.

SC’s products mainly include: disperse dyes, reactive dyes, acidic dyes, direct dyes, and relevant chemicals.

SC sources its materials 95% from domestic market, mainly Zhejiang and Jiangsu province, and 5% from overseas market; SC sells its products 20% in domestic market, and 80% to overseas market, mainly Korea.

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.

*Major Suppliers:

=============

Jiangsu Jihua Chemical Co., Ltd.

Hangzhou Hongbao Dyeing Decoration Co., Ltd.

Related companies: (according to the above stated website)

---------------------------------------------------------------------------

Hangzhou Hongbao Dyeing Decoration Co., Ltd.

Hangzhou Jihua Chemical Industrial Co., Ltd.

Hangzhou Jihua Macromolecular Materials Co., Ltd.

Hangzhou Xiaoshan Dyestuff Chemical Ind. Co., Ltd.

Hangzhou Jihua Jiangdong Chemical Ind. Co., Ltd.

Shaoxing Dajin Polyurethane Co., Ltd.

Jiangsu Jiran Chemical Co., Ltd.

Jiangsu Jihua Chemical Co., Ltd.

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: A trade enquiry currently conducted with SC's supplier(s) reveal the following:

Supplier A

Products sold: Disperse dyes and intermediates

Date account opened: Since 2009 to present

Line of credit: N/A

Terms: Credit of 30-60 days

Average monthly sales: N/A

Current balance: N/A

Rating Key : 3

Any Special Comments: 

_______________________________________

Payment record keys :

1 = Prompt : Payment made before the credit period expires

2 = As agreed terms : Payment made upon due date

3 = Slightly slow but acceptable : Payment made 5 to 20 days beyond agreed terms

4 = Slow : Payment made 16 to 45 days beyond agreed terms

5 = Poor : Payment made over 45 days beyond agreed terms

6 = No comment : Account is newly opened & record is not yet established

Note : In some instances, payment beyond terms can be the result of disputes over merchandise, lost invoices, disputed accounts & etc.

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 China Hongshan Sub-branch

AC#：083101040004836

Relationship: Normal.

Balance Sheet

Unit: CNY’000	As of Dec. 31, 2009	Unaudited, As of Dec. 31, 2010
Cash & bank	342,140	420,950
Inventory	830	1,180
Accounts receivable	105,900	41,430
Other Accounts receivable	39,550	310
To be apportioned expense	0	0
Other current assets	20	0
	------------------	------------------
Current assets	488,440	463,870
Fixed assets	770	690
Long term investment	0	0
Other assets	0	0
	------------------	------------------
Total assets	489,210	464,560
	=============	=============
Short loans	0	0
Bills payable	400,000	385,000
Accounts payable	61,350	6,290
Other Accounts payable	70	50,020
Withdraw the expenses in advance	0	0
Other current liabilities	3,440	480
	------------------	------------------
Current liabilities	464,860	441,790
Long term liabilities	0	0
Other liabilities	0	0
	------------------	------------------
Total liabilities	464,860	441,790
Equities	24,350	22,770
	------------------	------------------
Total liabilities & equities	489,210	464,560
	=============	=============

Income Statement

Unit: CNY’000	Unaudited, As of Dec. 31, 2010
Turnover	411,300
Cost of goods sold	393,180
Sales expense	13,620
Management expense	1,180
Finance expense	7,540
Other income	2,420
Profit before tax	-1,800
Less: profit tax	0
Profits	-1,800

Important Ratios

=============

	As of Dec. 31, 2009	As of Dec. 31, 2010
*Current ratio	1.05	1.05
*Quick ratio	1.05	1.05
*Liabilities to assets	0.95	0.95
*Net profit margin (%)	/	-0.44
*Return on total assets (%)	/	-0.39
*Inventory /Turnover ×365	/	2 days
*Accounts receivable/Turnover ×365	/	37 days
*Turnover/Total assets	/	0.89
* Cost of goods sold/Turnover	/	0.96

PROFITABILITY: FAIR

l The turnover of SC appears fairly good in its line.

l SC’s net profit margin is fair.

l SC’s return on total assets is fair.

l SC’s cost of goods sold is fairly high, 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 loans in both years.

l SC’s turnover is in a fair level, comparing with the size of its total assets.

LEVERAGE: FAIR

l The debt ratio of SC is high.

l The risk for SC to go bankrupt is average.

Overall financial condition of the SC: Fairly stable.

SC is considered medium-sized in its line with fairly stable financial conditions. A credit line up to USD 100,000 would appear to be within SC’s capacities.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.79
UK Pound	1	Rs.100.70
Euro	1	Rs.84.67

INFORMATION DETAILS

Report Prepared by :

MNL

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