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Report No. : |
352771 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
WENZHOU FENICE LEATHER & CHEMICAL CO., LTD. |
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Registered Office : |
(No. 73-75 Wenzhou Shoes Chemical MarkEt) No. 99 Guojing Highway Wenzhou, Zhejiang Province 325000 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
15.10.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engaged in selling chemical materials; selling
leather finishing agent (limited to operate by SC’s branch); selling leather
plastics; packing and processing chemical materials. |
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No. of Employee : |
100 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
WENZHOU FENICE
LEATHER & CHEMICAL CO., LTD.
(NO. 73-75 WENZHOU SHOES CHEMICAL MARKET) NO. 99 GUOJING HIGHWAY
WENZHOU, ZHEJIANG PROVINCE 325000 PR CHINA
TEL: 86 (0) 577-88159981/88707868/89869188/88702888
FAX: 86 (0) 577-88707818/89869889
Date of Registration :
OCTOBER 15, 1998
Unified Social Credit Code : 913303007043267975
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
BAO GUANGHUA (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 5,000,000
staff :
100
BUSINESS CATEGORY :
PROCESSING & TRADING
Revenue :
CNY 13,590,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 5,420,000 (AS OF DEC. 31, 2014)
WEBSITE : www.fenice.cn
E-MAIL :
N/A
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.40 = USD 1 AS OF
Adopted
abbreviations (as follows)
SC - Subject Company (the
company inquired by you)
N/A – Not available
CNY – China Yuan Ren Min Bi
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
SC
was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 913303007043267975.
SC’s registered capital: CNY
5,000,000
SC’s paid-in capital: CNY
5,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2015-10-15 |
Shareholder (s) (% of Shareholding) |
Bao Weijun 20% Li Aichai 30% Bao Guanghua 50% |
Li Aichai 30% Bao Guanghua 70% |
|
Legal Representative |
Bao Weijun |
Bao Guanghua |
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Registration No./ Unified Social Credit Code |
330300000012999 |
913303007043267975 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Li Aichai |
30 |
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Bao Guanghua |
70 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Bao Guanghua |
|
Supervisor |
Li Aichai |
No
recent development was found during our checks at present.
Name %
of Shareholding
Li
Aichai 30
Bao
Guanghua 70
Bao Guanghua, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Gender:
M
Qualification:
University
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Supervisor
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Li Aichai
SC’s
registered business scope includes selling chemical materials; selling leather
finishing agent (limited to operate by SC’s branch); selling leather plastics;
packing and processing chemical materials.
SC
is mainly engaged in processing and selling leather chemicals.
SC’s
products mainly include: various leather chemicals
SC sources the materials 100% from domestic market. SC sells 30% of its products in domestic market, and 70% to overseas market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
*Major
Customer*
----------------------
Oi
Wah Laundromat Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 100
staff at present.
SC
rents an area as its operating office and factory, but the detailed information
is unknown.
SC is known to have a
branch at present,
Wenzhou
Fenice Leather & Chemical Co., Ltd. Juxi Branch
Registration
No.: 330304000051563
Date
of Registration: May 25, 2001
Principal:
Li Xinyong
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.
Basic Bank
Ouhai
Rural Commercial Bank
AC#: N/a
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2014 |
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Total assets |
15,340 |
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------------- |
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Total liabilities |
9,920 |
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Equities |
5,420 |
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------------- |
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Revenue |
13,590 |
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Profits |
157 |
Important Ratios
=============
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As of Dec. 31, 2014 |
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*Liabilities to assets |
0.65 |
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*Net profit margin (%) |
1.16 |
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*Return on total assets (%) |
1.02 |
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*Revenue/Total assets |
0.89 |
PROFITABILITY: AVERAGE
The
revenue of SC appears average 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: AVERAGE
The
debt ratio of SC is average.
The
risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
SC
is considered small-sized in its line with fairly stable financial conditions
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
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|
1 |
Rs.100.34 |
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Euro |
1 |
Rs.70.67 |
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CNY |
1 |
Rs.10.43 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TRU |
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 |
-- |
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.