MIRA INFORM REPORT
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Report No. : |
320221 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BEIJING DHP CHEMICAL ENGINEERING CO., LTD. |
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Registered Office : |
Jinma Industrial Development Zone, Gaoliying Town Shunyi District, Beijing 101302 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
07.08.1995 |
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Com. Reg. No.: |
110106002952892 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in manufacturing and selling chemical machinery equipment |
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No of Employees : |
216 |
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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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 |
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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year� 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; � 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
|
Source
: CIA |
Company
name & address
BEIJING DHP CHEMICAL
ENGINEERING CO., LTD.
JINMA INDUSTRIAL
DEVELOPMENT ZONE, GAOLIYING TOWN
SHUNYI DISTRICT,
BEIJING 101302 PR CHINA
TEL: 86 (0) 10-69495580/69495581/69495582/69495583
FAX: 86 (0)
10-69495585
EXECUTIVE SUMMARY
Date of Registration : august 7, 1995
REGISTRATION NO. : 110106002952892
LEGAL FORM : Shares limited company
REGISTERED CAPITAL : CNY 39,886,363
staff :
216
BUSINESS CATEGORY : manufacturing
& TRADING
Revenue :
CNY 50,291,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 116,843,000 (AS OF DEC. 31, 2014)
WEBSITE : www.dhp.com.cn
E-MAIL :
dhp@dhp.com.cn
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.20 = 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 on August 7, 1995. However, SC changed to present legal form, and was
registered as shares limited company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 110106002952892 in 2013.
SC’s Organization Code Certificate No.:
10221019-9
SC’s Tax No.: 110113102210199
SC’s registered capital: CNY 39,886,363
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2008 |
Registered Capital |
CNY 7,000,000 |
CNY 10,000,000 |
|
2012 |
Registered Capital |
CNY 10,000,000 |
CNY 45,000,000 |
|
Shareholder (s)
(% of Shareholding) |
Zhang Ruiguang 75% Chen Hong 25% |
Beijing Jianyuan Xinbo Equity Investment Center (Limited Partnership) 5.6604% Zhang Ruiguang 57.9918% Chen Hong 19.2165% Hu Lianrong 5.7032% Other 20 individuals 11.4281% |
|
|
2013 |
Chinese Name |
北京德厚朴化工技术有限公司 |
北京德厚朴化工技术股份有限公司 |
|
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
|
|
2014-10-23 |
Registered Capital |
CNY 45,000,000 |
CNY 39,886,363 |
|
Shareholder (s)
(% of Shareholding) |
Beijing Jianyuan Xinbo Equity Investment Center (Limited Partnership) 5.6604% Zhang Ruiguang 57.9918% Chen Hong 19.2165% Hu Lianrong 5.7032% Other 20 individuals 11.4281% |
Zhang Ruiguang 65.57% Chen Hong 21.73% Zhao Jianguang 3.24% Shen Bailu 1.94% Other 16 individuals 7.52% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Zhang Ruiguang |
65.57 |
|
Chen Hong |
21.73 |
|
Zhao Jianguang |
3.24 |
|
Shen Bailu |
1.94 |
|
Other 16 individuals |
7.52 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhang Ruiguang |
|
Director |
Chen Hong |
|
Wang Youde |
|
|
Zhang Zhonglie |
|
|
Tan Yaohui |
|
|
Supervisor |
Zhang Maogang |
|
Shan Wei |
|
|
Wang Xiaoyan |
RECENT
DEVELOPMENT
SC has got the certificate ISO9001.
SHAREHOLDER
CHART & BACKGROUND
Name % of
Shareholding
Zhang Ruiguang 65.57
Chen Hong 21.73
Zhao Jianguang 3.24
Shen Bailu 1.94
Other 16 individuals 7.52
MANAGEMENT
Zhang Ruiguang,
Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 54
Ø
ID# 110105196104040032
Ø Qualification:
University
Ø Working experience
(s):
At
present, working in SC as legal representative, chairman and general manager
Also
working in Beijing Dehoupu Xiwang Chemical Machinery Co., Ltd. and Beijing
Huawen Meice Technology Co., Ltd. as legal representative
Director
----------
Chen Hong
Wang Youde
Zhang Zhonglie
Tan Yaohui
Supervisor
--------------
Zhang Maogang
Shan Wei
Wang Xiaoyan
BUSINESS
OPERATION
SC’s registered
business scope includes common freight; not to engage in any items prohibited
by laws, administrative regulation and State Council; and select to deal with
any items that do not need any permit; exporting its products and technology,
importing raw materials, instruments and meters, machinery equipment, parts and
technology needed in the manufacture, excluding the items limited or forbidden
by the state.
SC is mainly
engaged in manufacturing and selling chemical machinery equipment.
Brand: 
SC’s products
mainly include:
Pet Chips Dryer
Air Purifying and
Drying Systems
Chip Conveying
System
Film Production
Line Complementary Plants
SSP
Plant
DCA
Air Handing Unit
Chemical
Fiber Complementary Plant and Parts
Textile
Machinery Accessories
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 40% of its products in domestic
market, and 60% to overseas market, mainly Southeast Asia.
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.
*Major Customers:
==============
Flex Americas S.A.
De C.V.
Garware Polyester
Ltd.
Jbf Industries
Limited
Staff & Office:
--------------------------
SC is known
to have approx. 216 staff at
present.
SC owns an area as
its operating office & factory of approx. 10,000 sq. meters at the heading
address.
RELATED
COMPANY
n
Beijing Dehoupu Xiwang Chemical Machinery Co., Ltd.
---------------------------------------------
Date of Registration: April 2, 2001
Registration No.: 110113002611264
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 500,000
n
Beijing Huawen Meice Technology Co., Ltd.
------------------------------------
Date of Registration: August 15, 2001
Registration No.: 110113003172835
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 500,000
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 and Commercial Bank of China Beijing Branch
AC#:
0200004709006730464
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
Total assets |
182,449 |
210,680 |
146,378 |
|
|
------------- |
------------- |
------------- |
|
Total
liabilities |
47,779 |
70,246 |
29,535 |
|
Equities |
134,670 |
140,434 |
116,843 |
|
|
------------- |
------------- |
------------- |
|
Revenue |
308,255 |
92,885 |
50,291 |
|
Profit before
tax |
38,265 |
6,958 |
2,044 |
|
Less: profit tax |
5,328 |
1,057 |
1,278 |
|
Profits |
32,937 |
5,901 |
766 |
Important Ratios
=============
|
|
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
*Liabilities to
assets |
0.26 |
0.33 |
0.20 |
|
*Net profit
margin (%) |
10.68 |
6.35 |
1.52 |
|
*Return on
total assets (%) |
18.05 |
2.80 |
0.52 |
|
*Revenue/Total
assets |
1.69 |
0.44 |
0.34 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC appears
average in its line, and it decreased year by year.
l SC’s net profit
margin is average in 2014.
l SC’s return on
total assets is average in 2014.
LIQUIDITY: FAIR
l
SC’s revenue is in a fair level in 2013 and 2014,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.20 |
|
|
1 |
Rs. 97.00 |
|
Euro |
1 |
Rs. 69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
DPT |
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.