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Report No. : |
306088 |
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Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
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Name : |
Nantong Chem-land Co., Ltd. |
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Registered Office : |
Rm. 1306, Bldg.
A, Wenfeng Mansion, No. 168, Gongnong Road, Nantong, Jiangsu Province, 226006
Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.07.2007 |
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Com. Reg. No.: |
320600000158183 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in selling chemical raw materials. |
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No. of Employee : |
5 |
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) |
|
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 |
Nantong Chem-land Co., Ltd.
rm. 1306, bldg. a, wenfeng Mansion, no. 168, gongnong road,
nantong, jiangsu PROVINCE, 226006 PR CHINA
TEL: 86 (0) 513-85512619 FAX:
86 (0) 513-85512676
INCORPORATION DATE : july 20, 2007
REGISTRATION NO. : 320600000158183
REGISTERED LEGAL
FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 5
REGISTERED CAPITAL :
CNY 500,000
BUSINESS LINE : TRADING
TURNOVER : CNY 21,520,000 (AS OF DEC. 31, 2013)
EQUITIES : CNY 820,000 (AS OF DEC. 31, 2013)
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION
: fairly stable
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25 = USD
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 a One-person Limited
Liability Company at local Administration for industry & commerce (AIC -
the official body of issuing and renewing business license) on July 20, 2007.
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
selling chemical raw materials (excluding the hazard products), general
machinery, electronics, knitting textiles, garments and hardware; import and
export of various goods and technologies (excluding the goods forbidden by the
government). (Any project that needs to be approved by law can only be carried
out after getting approval by relevant authorities.)
SC
is mainly engaged in selling chemical raw materials.
Ms.
Zhang Shujun is legal representative and chairman of SC at present.
SC is
known to have approx. 5 employees at present.
SC is currently operating at the above stated
address, and this address houses its operating office in the commercial zone of
Nantong. The detailed information of the premise is unspecified.
http://www.chem-land.com The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
Email: sales@chem-land.com
No significant events or changes were found
during our checks with the local Administration for Industry and Commerce.
Organization Code: 664923051
For the past two years there is no record of
litigation.
MAIN SHAREHOLDERS:
Zhang Shujun 100
l Legal
representative and Chairman:
Ms. Zhang Shujun is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal
representative and chairman
l
Supervisor:
Zhang Qinhui
SC
is mainly engaged in selling chemical raw materials.
SC’s products mainly include:
1-Bromo-5-Chloropentane, 1-bromo-3,5-dimethyladamantane, 1,1'-Carbonyldiimidazole,
Chlorobutane, Diethyl acetylamino malonate, Diethyl aminomalonate
hydrochloride, etc.
Trademarks & patents: N/A
SC sources its
materials 100% from domestic market. SC sells 1% of its products in domestic market,
and 99% 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’s management declined to release
its customer and supplier details.
SC is not known to have any subsidiary at present.
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’s management declined to release its bank details.
Unit:
CNY’000
|
|
as of Dec. 31, 2013 |
|
Cash
& bank |
670 |
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Inventory |
0 |
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Accounts
receivable |
3,250 |
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Advances
to suppliers |
0 |
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Other
receivables |
350 |
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Other
current assets |
0 |
|
|
------------------ |
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Current
assets |
4,270 |
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Fixed
assets net value |
100 |
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Projects
under construction |
0 |
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Long
term investment |
0 |
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Other
assets |
0 |
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|
------------------ |
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Total
assets |
4,370 |
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|
============= |
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Short
loans |
0 |
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Accounts
payable |
1,090 |
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Other
payable |
2,460 |
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Taxes
payable |
0 |
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Advances
from clients |
0 |
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Other
current liabilities |
0 |
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|
------------------ |
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Current
liabilities |
3,550 |
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Long
term liabilities |
0 |
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|
------------------ |
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Total
liabilities |
3,550 |
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Equities |
820 |
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|
------------------ |
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Total
liabilities & equities |
4,370 |
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|
============= |
Unit:
CNY’000
|
|
as of Dec. 31,
2013 |
|
Turnover |
21,520 |
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Cost
of goods sold |
19,080 |
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Sales expense |
730 |
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Management expense |
1,260 |
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Finance expense |
230 |
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Profit
before tax |
150 |
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Less:
profit tax |
70 |
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Profits |
80 |
|
|
as of Dec. 31, 2013 |
|
*Current ratio |
1.20 |
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*Quick ratio |
1.20 |
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*Liabilities to assets |
0.81 |
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*Net profit margin (%) |
0.37 |
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*Return on total assets (%) |
1.83 |
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*Inventory /Turnover ×365 |
/ |
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*Accounts receivable/Turnover ×365 |
56 days |
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*Turnover/Total assets |
4.92 |
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* Cost of goods sold/Turnover |
0.89 |
PROFITABILITY:
AVERAGE
l The turnover 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 goods
sold is average, comparing with its turnover.
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 SC has no
inventory in 2013.
l The accounts
receivable of SC appears large in 2013.
l SC has no
short-term loan in 2013.
l SC’s turnover is
in a fairly good level, comparing with the size of its total assets.
LEVERAGE:
FAIR
l The debt ratio of
SC is fairly high.
l 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.
The large amount of accounts receivable could be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.68 |
|
|
1 |
Rs. 93.59 |
|
Euro |
1 |
Rs. 70.74 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
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 |
|
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.