MIRA
INFORM REPORT
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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
CHANGCHUN TIANLI HEALTH PRODUCTS CO., LTD. |
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Registered Office : |
Room 1501, |
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Country : |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
07.03.2001 |
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Com. Reg. No.: |
22010802000794X |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing food, drinks and paper products; selling agricultural
products and ginseng antler products; exporting self-made products, importing
self-used mechanical equipment, spare parts and raw materials. |
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No of Employees : |
25 |
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 : |
Slow |
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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 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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, growth of the
private sector, development of stock markets and a modern banking system, 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 considered important to "economic
security," explicitly looking to foster globally competitive industries.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China 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 and
expanded the daily trading band within which the RMB is permitted to fluctuate.
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 2013 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
consumption; (b) facilitating higher-wage job opportunities for the aspiring
middle class, including rural migrants and increasing numbers of college
graduates; (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. Several factors are
converging to slow China's growth, including debt overhang from its
credit-fueled stimulus program, industrial overcapacity, inefficient allocation
of capital by state-owned banks, and the slow recovery of China's trading
partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated
at the Communist Party's "Third Plenum" meeting in November 2013,
emphasizes continued economic reforms and the need to increase domestic
consumption in order to make the economy less dependent in the future on fixed
investments, exports, and heavy industry. However, China has made only marginal
progress toward these rebalancing goals. The new government of President XI
Jinping has signaled a greater willingness to undertake reforms that focus on
China's long-term economic health, including giving the market a more decisive
role in allocating resources.
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Source
: CIA |
Company name & address
CHANGCHUN TIANLI
HEALTH PRODUCTS CO., LTD.
ROOM 1501, TONGHUI MANSION, NO. 2222 TONGZHI AVENUE, CHANGCHUN CITY, JILIN PROVINCE 130051 PR CHINA
TEL: 86 (0) 431-85631839/13904306386
FAX: 86 (0) 431-85631839
EXECUTIVE SUMMARY
Date of Registration : MARCH 7, 2001
REGISTRATION NO. : 22010802000794X
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
TIAN FUYUN (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL : CNY 1,000,000
staff :
25
BUSINESS CATEGORY : manufacturing
& TRADING
REVENUE :
CNY 1,713,000 (JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 445,000 (AS OF JUN. 30, 2014)
WEBSITE : www.tianlihealth.ccseo.cc
E-MAIL :
873218410@qq.com
& yuanshaoli0909@hotmail.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE :
CNY 6.14 = 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
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
22010802000794X on March 7, 2001.
SC’s Organization Code Certificate No.:
72693508-3
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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-- |
Registered No. |
2201082000718 |
22010802000794X |
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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Tian Fuyun |
40 |
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Qiao Yongfu |
40 |
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Hao Jie |
20 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Tian Fuyun |
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Deputy General Manager |
Qiao Yongfu |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Tian Fuyun
ID#220104196311121512 40
Qiao Yongfu
ID#220104195711301315 40
Hao Jie
ID#22010319560726371 20
MANAGEMENT
Tian Fuyun, Legal Representative, Chairman and General
Manager
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Gender: M
Age: 51
ID# 220104196311121512
Qualification: University
Working experience (s):
From 2001 to present, working in SC as legal representative, chairman
and general manager
Qiao Yongfu,
Deputy General Manager
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Gender: M
Age: 57
ID# 220104195711301315
Qualification: University
Working experience (s):
At present, working in SC as deputy general manager
BUSINESS OPERATION
SC’s registered business scope includes manufacturing
food, drinks and paper products; selling agricultural products and ginseng antler
products; exporting self-made products, importing self-used mechanical
equipment, spare parts and raw materials.
SC is mainly engaged in manufacturing and selling health care products.
SC’s products mainly include: ginseng drink, honey with red ginseng
extract, antroyaljelly oral liquid, ginseng tea, colon clean tea, wuchaseng
extract, sanye anti-adipose tea, panax ginseng extract, ginseng royal jelly,
flower face tea, beauty face tea, deer's tail extract oral liquid, ginger
drink, ginseng & ginkgo extract, Sanbaojin (slim) tea, Beijing royal jelly
with bee pollen.
SC sources its materials 70% from domestic market, and 30% from overseas markets. SC sells 20% of its products in domestic market, and 80% to overseas market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, L/C, T/T, and Credit of 30-60 days.
Staff &
Office:
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SC is known to have approx. 25
staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
***Note: SC’s factory locates in No. 1985 Dongnanhu Road, Economic
Development Zone, Changchun.
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.
***Note: SC’s
management declined to release whether it has account in Bank of China.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Jun. 30,
2014 |
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Total assets |
3,784 |
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Total liabilities |
3,339 |
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Equities |
445 |
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Unit: CNY’000 |
Jan. 1, 2014 to
Jun. 30, 2014 |
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Revenue |
1,713 |
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Profits |
22 |
Important Ratios
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As of Jun. 30,
2014 |
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*Liabilities to assets |
0.88 |
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*Net profit margin (%) |
1.28 |
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*Return on total assets (%) |
0.58 |
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*Revenue / Total assets |
0.45 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears fair in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
LIQUIDITY: FAIR
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
The risk for SC to go bankrupt is fairly high.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.47 |
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1 |
Rs.98.77 |
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Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SMN |
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.