MIRA
INFORM REPORT
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Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN
RUIJI CHEMICAL CO., LTD. |
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Registered Office : |
Room 4-601, Building B-2, No. 16
Haitai Development Avenue, Huayuan
Industry Area, Tianjin 300384 PR |
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Country : |
Chain |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
14.12.2006 |
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Com. Reg. No.: |
120193000009672 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Engaged in selling chemical products. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Chain |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CHAIN - ECONOMIC OVERVIEW
Since the late 1970s
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Source
: CIA |
Company name and address
TIANJIN RUIJI CHEMICAL CO., LTD.
room
4-601, building b-2, no.
huayuan
industry area,
TEL: 86 (0)
22-23708206/58089621/58089628
FAX: 86
(0) 22-23708200/58089630
***Note: The (Room 512 Building D High - Tech information
Squareno 8 Huatian Road, Huayuan Industyr Area Nankai District
EXECUTIVE SUMMARY
Date of Registration : DECember 14, 2006
REGISTRATION NO. : 120193000009672
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
REGISTERED CAPITAL :
CNY 30,000,000
staff : 12
BUSINESS CATEGORY :
trading
REVENUE :
CNY 20,350,000 (JAN. 1 2013 TO
JUN. 30, 2013)
EQUITIES :
CNY 29,860,000 (AS OF JUN. 30, 2013)
WEBSITE : www.ruijichem.com
E-MAIL :
dongpeng@edongpeng.com
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.15 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was
established as one-person limited liability company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 120193000009672 on December
14, 2006.
SC’s Organization Code Certificate
No.: 79499552-0
SC’ Tax No.: 120117794995520
SC’s registered capital: cny 30,000,000
SC’s paid-in capital: cny 30,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1201032013407 |
120193000009672 |
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Legal Representative |
Zhao Ming |
Fu Zhiqin |
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Registered Capital |
CNY 300,000 |
CNY 3,000,000 |
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Company Chinese Name |
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Registered Capital |
CNY 3,000,000 |
cny 20,000,000 |
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2012 |
Registered Capital |
cny 20,000,000 |
cny 30,000,000 |
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Business Scope |
Wholesaling and retailing textiles, garments, electronic
mechanical equipments (excluding cars), hardware, chemical products (excluding
hazardous chemicals and easily made poison), minerals (excluding the minerals
needed to be examined and approved such as coal), daily necessities,
stationery and sporting goods, arts and crafts; international trade
(excluding the items limited or prohibited by state) (in accordance with
permit). |
Wholesaling and retailing business; importing and
exporting commodities and technology; technology development for fine
chemicals; the following is limited to operate by SC’s branch-manufacturing
chemical. |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
|
Fu Zhiqin |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman,
and General Manager |
Fu Zhiqin |
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Supervisor |
Liu Yang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Fu Zhiqin 100
MANAGEMENT
Fu Zhiqin, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Liu Yang, Supervisor
-------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered
business scope includes wholesaling and retailing business; importing and
exporting commodities and technology; technology development for fine
chemicals; the following is limited to operate by SC’s branch-manufacturing
chemical..
SC is mainly
engaged in selling chemical products.
SC’s products mainly include:
Basic dyes
Acid dyes
Direct dyes
Solvent dyes
Solvent orange 3
Solvent Brown 41
Indigo Blue
Etc.
SC sources its products 100%
from domestic market. SC sells 95% of its products in domestic markets, and 5%
to overseas market, mainly
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 Customers:
==============
Nebula Corporation
(
Keystone Aniline
Corp (
Staff & Office:
--------------------------
SC is
known to have approx. 12
staff at present.
SC rents an area
as its operating office of approx. 140 sq. meters at the heading address.
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
Basic Bank:
Industrial Bank
AC#:
441100100100204125
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Jun. 30, 2013 |
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27,370 |
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Accounts
receivable |
7,320 |
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Advances to
suppliers |
0 |
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Other receivable |
26,540 |
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Inventory |
23,510 |
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Non-current
assets within one year |
0 |
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Other current
assets |
4,990 |
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------------------ |
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Current assets |
89,730 |
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Fixed assets |
370 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
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------------------ |
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Total assets |
90,100 |
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============= |
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Short-term loans |
34,500 |
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Notes payable |
0 |
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Accounts payable |
16,200 |
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Wages payable |
0 |
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Taxes payable |
0 |
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Other payable |
7,350 |
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Other current
liabilities |
2,190 |
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------------------ |
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Current
liabilities |
60,240 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
60,240 |
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Equities |
29,860 |
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------------------ |
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Total
liabilities & equities |
90,100 |
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============= |
Income Statement
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Unit: CNY’000 |
Jan.
1 2013 to Jun. 30, 2013 |
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Revenue |
20,350 |
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Cost of sales |
17,510 |
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Sales expense |
1,360 |
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Management expense |
270 |
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Finance expense |
1,060 |
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Profit before
tax |
130 |
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Less: profit tax |
30 |
|
100 |
Important Ratios
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As
of Jun. 30, 2013 |
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*Current ratio |
1.49 |
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*Quick ratio |
1.10 |
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*Liabilities
to assets |
0.67 |
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*Net profit
margin (%) |
0.49 |
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*Return on
total assets (%) |
0.11 |
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*Inventory / Revenue
×180 |
208 days |
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*Accounts
receivable/ Revenue ×180 |
65 days |
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*
Revenue/Total assets |
0.23 |
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* Cost of
sales / Revenue |
0.86 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of sales is average, comparing with its revenue.
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 appears large.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in a
fair 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 Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. The large amount of inventory and short-term
loans may be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
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|
1 |
Rs.98.64 |
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Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.