MIRA INFORM REPORT
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Report No. : |
309082 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
JIANGXI BLACK CAT CARBON BLACK INC., LTD |
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Registered Office : |
Liyao, Jingdezhen, Jiangxi Province, 333000
Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
12.07.2001 |
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Com. Reg. No.: |
360000110002512 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
manufacturing and selling of carbon black for rubber, white carbon black. |
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No. of Employees : |
3,530 |
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 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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, creation of a diversified banking
system, development of stock markets, rapid growth of the private sector, 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 it considers important to "economic
security," explicitly looking to foster globally competitive national champions.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China revalued its currency by 2.1% against the US dollar and 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. 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 2012 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 demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (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. In 2010-11, China faced high inflation
resulting largely from its credit-fueled stimulus program. Some tightening
measures appear to have controlled inflation, but GDP growth consequently
slowed to under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. Debt overhang
from the stimulus program, particularly among local governments, and a property
price bubble challenge policy makers currently. The government's 12th Five-Year
Plan, adopted in March 2011, emphasizes continued economic reforms and the need
to increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
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Source : CIA |
Company
name & address
Jiangxi Black Cat Carbon Black INC., LTD.
LIYAO, JINGDEZHEN, JIANGXI
PROVINCE, 333000 PR CHINA
TEL: 86 (0)
798-8399126/8399125 FAX: 86 (0)
798-8399126
EXECUTIVE
SUMMARY
INCORPORATION DATE : JUL. 12, 2001
REGISTRATION NO. : 360000110002512
REGISTERED LEGAL
FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE : MR. CAI JINGZHANG (CHAIRMAN)
STAFF
STRENGTH : 3,530
REGISTERED
CAPITAL : CNY 479,699,000
BUSINESS
LINE :
MANUFACTURING
TURNOVER : CNY
4,654,932,000 (Consolidated, AS OF DEC. 31, 2012)
EQUITIES : CNY 1,426,551,000 (Consolidated,
AS OF DEC. 31, 2012)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE : CNY
6.1212= 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
Note: SC is also known as Jiangxi Black Cat Carbon Black Co., Ltd. and Jiangxi Black Cat Carbon Black Stock Co., Ltd.
SC was registered as a shares limited company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Jul. 12, 2001.
Company Status: Shares limited co. This form of business in PR China
is defined as a legal person. Its registered capital is divided into shares
of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of
the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in China.. Natural person are allowed to
serve as promoters. The minimum registered capital
of a co. is CNY 5M. while that of the co. with foreign investment is CNY 5M.
The total capital
of a co. which propose to apply for publicly listed must be no less than
CNY 30M. The
board of directors must consist of five to nineteen directors. If the co. raises
capital by public offer, the promoters must not subscribe less than 35% of
the total shares. the promoters’ shares are restricted to transfer- within
one year of the offer. A
state-owned enterprise that is restructured into a shares limited co. must
comply with the conditions & requirements specified under the law &
administrative rule.
SC’s registered
business scope includes manufacturing and selling carbon black and tail gas,
silicon material, crude naphthalene, light oil, absorber oil, dephenolized carbolic
oil, crude carbolic acid, anthracene oil, mid-temperature pitch, muriatic acid,
chloros, carbon black oil; foreign trade.
SC is mainly
engaged in manufacturing and selling carbon black.
Mr. Cai Jingzhang
is legal representative and chairman of SC at present.
SC is known
to have approx. 3,530 employees at present,
including 2,358 production staff, 88 sales staff, 677 technical staff, 55
financial staff and 352 administration staff.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Jingdezhen. The information about premise is unknown.
http://www.jx-blackcat.com/ The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Email: heimaoth@126.com
SC is a listed company in Shenzhen Stock Exchange Market with
the code 002068.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2008-1 |
Registered no. |
3600001132348 |
Present one |
Honors:
SC got ISO14001:2004, ISO9001:2008, laboratory accreditation
certification, occupational health and safety management system certification,
etc.
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS: (As of June 30, 2013)
Name
%
of Shareholding
Jingdezhen Coking Industry Group Co., Ltd.
(Literal transition) 43.44
Bank of China- Gongyin Ruixin Core Value
Stock Securities Investment Fund 2.35
113 Combination of National Social Security
Fund 1.48
He Haichao 1.48
China Everbright Bank Co., Ltd.
-Everbright Pramerica Quantization Core
Securities Investment Fund 0.97
Chen Jie 0.66
Zhou Haihong 0.46
Zhongjiang
International Trust Co., Ltd. Capital Trust (No. Jinshi 90) 0.41
Zhongjiang International Trust Co., Ltd.
Capital Trust (No. Jinshi 88) 0.39
Qian Zhenlin 0.34
Other shareholders 48.02
Jingdezhen Coking Industry Group Co., Ltd.
================================
Registered no.: 360200010001076
Legal representative: Cai Jingzhang
Legal form: Limited Liabilities Company
Registered capital: CNY 800,000,000
Incorporation date: Jan. 1, 1991
Web: http://www.kmzh.com/
Add: Liyao, Jingdezhen, Jiangxi Province
Tel: 0798-8399163
Fax: 0798-8391618
Legal
representative and Chairman:
Mr. Cai Jingzhang, with Master’s degree, senior engineer. 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 Jingdezhen Coking Industry Group Co., Ltd. as legal representative and chairman
Vice chairman:
Mr. Li Baoquan, born in 1963, with university education. He is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working in SC as vice chairman.
Also working in Jingdezhen Coking Industry Group Co., Ltd. as vice general manager
General manager
& Director:
Mr. Chen Wenxing, born in 1963, with university education, engineer. He is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working in SC as general manager and director.
Directors:
Fu Nianping
Cao Heping
Yu Jingdong
Supervisors:
Cao Hua
Yu Xiujin
Pan Guanshun
SC is mainly
engaged in manufacturing and selling carbon black.
SC’s mainly products
include carbon black for rubber, white carbon black.
Brand: Black Cat.
SC sources its materials 80%
from domestic market, and 20% from overseas market. SC sells 70% of its
products in domestic market, mainly Anhui Province, Fujian Province, Guangdong
Province, and 30% to overseas market, mainly Japan, Indonesia.
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.
Note:
SC’s management declined to release its major clients and suppliers.
Subsidiaries:
=========
· Hancheng Black Cat Carbon Black Co., Ltd.
· Chaoyang Black Cat Wuxingqi Carbon Black Co., Ltd.
· Wuhai Black Cat Carbon Black Co., Ltd.
· Handan Black Cat Carbon Black Co., Ltd.
· Tangshan Black Cat Carbon Black Co., Ltd.
· Jiangxi Black Cat Import And Export Co., Ltd.
· Taiyuan Black Cat Carbon Black Co., Ltd.
Etc.
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.
Consolidated
Balance Sheet
Unit: CNY’000
|
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as of Dec. 31,
2011 |
as of Dec. 31,
2012 |
|
Cash & bank |
417,250 |
380,185 |
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Notes receivable |
263,925 |
344,086 |
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Inventory |
616,909 |
689,746 |
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Accounts
receivable |
729,315 |
939,914 |
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Advances to
supplies |
76,920 |
124,510 |
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Other
receivables |
15,406 |
13,289 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
2,119,725 |
2,491,730 |
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Long-term
investments |
24,352 |
21,573 |
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Fixed assets |
1,806,317 |
2,191,534 |
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Projects under
construction |
109,581 |
258,420 |
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Intangible
assets |
135,230 |
132,379 |
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Engineer
material |
939 |
26,673 |
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Deferred tax
assets |
13,918 |
16,672 |
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Other assets |
12,000 |
0 |
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------------------ |
------------------ |
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Total assets |
4,222,062 |
5,138,981 |
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============= |
============= |
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Short loans |
1,014,544 |
1,631,923 |
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Notes payable |
342,209 |
621,385 |
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Accounts payable |
650,141 |
770,403 |
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Advances from
customers |
176,866 |
73,457 |
|
Employee
pay payable |
4,414 |
5,688 |
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Taxes payable |
1,048 |
-50,372 |
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Interest payable |
2,637 |
3,911 |
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Dividend payable |
378 |
378 |
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Other Accounts
payable |
83,365 |
96,303 |
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Due
within one year of non-current liabilities |
102,500 |
155,500 |
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Other
current liabilities |
0 |
0 |
|
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----------------- |
----------------- |
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Current
liabilities |
2,378,102 |
3,308,576 |
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Long term
liabilities |
506,117 |
403,854 |
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------------------ |
----------------- |
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Total
liabilities |
2,884,219 |
3,712,430 |
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Shareholders
equities |
1,337,843 |
1,426,551 |
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|
------------------ |
----------------- |
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Total
liabilities & equities |
4,222,062 |
5,138,981 |
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============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
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as of Dec. 31,
2011 |
as of Dec. 31,
2012 |
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Turnover |
3,945,466 |
4,654,932 |
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Cost of goods
sold |
3,281,136 |
3,909,133 |
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Taxes and
additional of main operation |
10,454 |
15,805 |
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Sales expense |
280,464 |
329,363 |
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Management expense |
104,298 |
132,219 |
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Finance expense |
101,443 |
137,578 |
|
Investment income |
-233 |
-2,779 |
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Assets impairment loss |
8,881 |
13,934 |
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Non-operating
income |
13,740 |
41,924 |
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Non-operating expense |
2,923 |
29,959 |
|
Profit before
tax |
169,374 |
126,086 |
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Less: profit tax |
39,851 |
28,379 |
|
Net profit |
129,523 |
97,707 |
Important Ratios
=============
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as of Dec. 31,
2011 |
as of Dec. 31,
2012 |
|
*Current ratio |
0.89 |
0.75 |
|
*Quick ratio |
0.63 |
0.54 |
|
*Liabilities
to assets |
0.68 |
0.72 |
|
*Net profit
margin (%) |
3.28 |
2.10 |
|
*Return on
total assets (%) |
3.07 |
1.90 |
|
*Inventory
/Turnover ×365 |
57 days |
54 days |
|
*Accounts
receivable/Turnover ×365 |
67 days |
74 days |
|
*Turnover/Total
assets |
0.93 |
0.91 |
|
* Cost of
goods sold/Turnover |
0.83 |
0.84 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears good in its line, and it
increased in 2012.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
l
SC’s cost of goods sold is average, comparing with
its turnover in both years.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level in both years.
l
SC’s quick ratio is maintained in a fair level in
both years.
l
The inventory of SC appears average in both years.
l
The accounts receivable of SC appears average in
both years.
l
SC’s short-term loan appears large in both years.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in both years.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered large-sized in its line with fairly stable financial conditions.
The large amount of short-term loan could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Report
Prepared by : |
TPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.