MIRA INFORM REPORT
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Report No. : |
353669 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LIANYUNGANG DEBANG FINE CHEMICAL CO., LTD. |
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Registered Office : |
No. 180 Xinhai Road, Haizhou District, Lianyungang, Jiangsu Province, 222023 Pr |
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Country : |
China |
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Date of Incorporation : |
09.03.1998 |
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Com. Reg. No.: |
320700000003759 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Manufacturing and selling
fine chemicals. |
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No. of Employee : |
300 |
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 : |
Unknown |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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 for the first time
in modern history. Still, China's per capita income is below the world average.
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
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 2014 more than 274 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 also implemented several economic
reforms in 2014, including passing legislation to allow local governments to
issue bonds, opening several state-owned enterprises to further private
investment, loosening the one-child policy, passing harsher pollution fines,
and cutting administrative red tape.
|
Source
: CIA |
Company
name and address
LIANYUNGANG DEBANG FINE CHEMICAL CO., LTD.
NO. 180 XINHAI ROAD, HAIZHOU DISTRICT, LIANYUNGANG,
JIANGSU PROVINCE, 222023 PR CHINA
TEL: 86 (0) 518-85253811/85255018 FAX:
N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MARCH 9, 1998
REGISTRATION NO. : 320700000003759
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MR. ZHAO
XIANGHAI (CHAIRMAN)
STAFF STRENGTH : 300
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : UNKNOWN
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.4247 = 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 Renminbi
SC was registered as one-person limited liability company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license).
Company Status: One-person Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes manufacturing food additives;
industrial phosphoric acid production; pharmaceutical raw materials: calcium
hydrophosphate production; production of phosphates, Propyl gallate, citric
acid, citrate series and related products; importing and exporting commodities
and technology, excluding the items prohibited or limited by the country.
SC
is mainly engaged in manufacturing and selling fine chemicals.
Mr.
Zhao Xianghai is the legal representative and chairman of SC at
present.
SC is known to have approx. 300 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Lianyungang.
SC’s employee refused to release the detailed information of the premise.
http://www.dbfine.com.cn/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: dbfine@dbfine.com.cn
No significant changes were found during our checks with the local AIC.
SC has passed ISO9001, HACCP, GMP and other authentication and BRC
inspection
See below for SC as executive party (defendant).
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Executed Party |
SC |
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Court |
Zhenjiang Runzhou District People's Court |
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Date of Case |
2015-2-4 |
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Case Number |
(2015) 00215 |
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Claim Amount |
RMB 165,724 |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN SHAREHOLDERS:
Name % of Shareholding
Jiangsu Debang Chemical Industry Group Co., Ltd. 100
Registration no.: 320700400003886
Legal representative: Zhao Xianghai
Incorporation date: 1989-09-26
Legal representative and chairman:
Mr. Zhao Xianghai, born in 1954 with EMBA degree, senior economist,
senior professional manager, he is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
Also working in Jiangsu Debang Chemical Industry Group Co., Ltd.,
Jiangsu Debang Xinghua Chemical Technology Co., Ltd. (literal translation),
China National Salt Debang (Jiangsu) Chemical Co., Ltd., Jiangsu Debang Xinghua
Chemical Co., Ltd., Jiangsu Debang Duoling Health Technology Co., Ltd., etc. as
legal representative.
General
manager:
Wei Dong is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working
in SC as general manager.
Supervisor:
Shan Baoxia
SC is mainly engaged in manufacturing and
selling fine chemicals.
SC’s products mainly include:
Phosphate
Citrate
Compound phosphate
Other
SC sources its materials 100% from domestic market. SC sells 40% of its
products in domestic market, and 60% to overseas market.
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.
Note: SC refused to release its main suppliers and clients.
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Registration No. |
6190801 |
666230 |
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Registration Date |
2010-3-7 |
1993-11-21 |
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Trademark Design |
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Jiangsu Debang Xinghua Chemical Technology Co., Ltd. (literal
translation)
============================
Registration no.: 320700000158151
Legal representative: Zhao Xianghai
Incorporation date: 2012-07-19
China National Salt Debang (Jiangsu) Chemical Co., Ltd.
==================================
Registration no.: 320700000157724
Legal representative: Zhao Xianghai
Incorporation date: 2012-06-28
Jiangsu Debang Xinghua Chemical Co., Ltd.
==================================
Credibility Code: 91320000737069432G
Legal representative: Zhao Xianghai
Incorporation date: 2002-04-26
Subsidiary:
Jiangsu Debang Duoling Health Technology Co., Ltd.
===================================
Registration no.: 320722000079426
Legal representative: Zhao Xianghai
Incorporation date: 2012-06-07
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: 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.
SC declined to release its banking details.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 17 years operation
history. Taking into consideration of SC’s development history and operation
size we would rate SC as an average credit risk company. Credit up to moderate
amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.79 |
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1 |
Rs.101.10 |
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Euro |
1 |
Rs.73.10 |
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CNY |
1 |
Rs.10.40 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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.