MIRA INFORM REPORT
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Report No. : |
326542 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
NINGXIA BEILITE CHEMICAL
INDUSTRY CO., LTD. |
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Registered Office : |
No. 5 Xingping North Road, Taisha Industry Zone, Pingluo County,
Shizuishan City, Ningxia Hui Autonomous Region, 753400 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
02.12.2003 |
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Com. Reg. No.: |
640221200004427 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Manufacturing and selling lime nitrogen, dicyandiamide, limestone,
shell and auxiliary chemical raw materials; selling silica sand, researching bio-products;
manufacturing and selling guanidine nitrate, nitroguanidine, imidazolidine,
N-methylnitroguanidine, other pesticide intermediates and medical
intermediate. |
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No. of Employee : |
700 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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. 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; (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.
|
Source
: CIA |
Company name
& address
NINGXIA BEILITE CHEMICAL INDUSTRY CO., LTD.
no. 5 xingping north road, taisha industry zone,
pingluo county, shizuishan city, ningxia Hui Autonomous Region, 753400 PR CHINA
TEL: 86 (0) 952-3950777/3950111
FAX: 86 (0) 952-3950777
EXECUTIVE
SUMMARY
INCORPORATION DATE :
DEC. 2, 2003
REGISTRATION NO. :
640221200004427
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. ZHAO LIMING (CHAIRMAN)
STAFF STRENGTH :
700
REGISTERED CAPITAL : CNY 90,500,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
CNY 255,090,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 63,170,000 (AS OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2069=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 a Limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license).
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes manufacturing and selling lime
nitrogen, dicyandiamide, limestone, shell and auxiliary chemical raw materials;
selling silica sand, researching bio-products; manufacturing and selling
guanidine nitrate, nitroguanidine, imidazolidine, N-methylnitroguanidine, other
pesticide intermediates and medical intermediate.
SC is mainly engaged in manufacturing and selling
chemical products.
Mr. Zhao Liming has been legal representative, chairman and general
manager of SC since Jan., 2015.
SC is known to have approx. 700 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 Pingluo County.
Detailed premise information is not available at present.
www.dicyandiamidechina.com
The design is professional and the content is well organized. At present the
web site is in both Chinese and English versions.
www.bltchemical.com
The design is professional and the content is well organized. At present the
web site is in Chinese version.
Email: Export@bltchemical.com
Changes of its
registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
2015-1-9 |
Legal representative |
Li Yuzhong |
Present one |
Organization code: 750824906
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Ningxia Beilite Investment Holding Co., Ltd.
(literal translation) 99
Zhao Liming 1
Ningxia Beilite Investment Holding Co., Ltd. (literal translation)
--------------------------------------------------------
Reg. No.: 640221200021106
Legal representative: Li Tete
Legal Representative, Chairman and General Manager:
Mr. Zhao Liming, born in 1968, is currently responsible for the overall
management of SC.
Working Experience(s):
From Jan., 2015 to present Working in SC as legal representative,
chairman and general manager
Also working in Ningxia Beilite Bio-Technology Co., Ltd. as legal
representative
Supervisor:
Guo Jiali, born in 1971
SC is mainly engaged in manufacturing and selling chemical products.
SC’s products mainly include
• Calcium Carbide
• Calcium Cyanamide
• Dicyandiamide
• Dicyandiamide Of
Electronic Grade
• Micro-Dicyandiamide
• Hydrogen Cyanamide
• Guanidine Nitrate
• Nitroguanidine
• 2-Nitroimino
Imidazolidine
SC sources its materials 100% from domestic market. SC sells 50% of its
products in domestic markets, and 50% to overseas market.
Trademarks & Patents
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Registration No. |
11195885 |
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Registration Date |
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|
Trademark Design |
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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 main clients and
suppliers.
Ningxia Minzu Hengji Chemical Co., Ltd. (literal translation)
--------------------------------------------------
Reg. No.: 640221200012015
Incorporation date:
Legal representative: Li Yuzhong
Ningxia Minzu Hengji Logistics Co., Ltd. (literal translation)
--------------------------------------------------
Reg. No.: 640221200013665
Incorporation date:
Legal representative: Guo Jiali
Subsidiary
Ningxia Beilite Bio-Technology Co., Ltd. (literal translation)
--------------------------------------------------
Reg. No.: 640221200022980
Incorporation date:
Legal representative: Zhao Liming
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.
Balance
Sheet
Unit: CNY’000
|
|
as of Dec. 31,
2013 |
|
69,630 |
|
|
Note receivable |
7,450 |
|
Inventory |
19,520 |
|
Accounts
receivable |
29,880 |
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Advances to
suppliers |
52,290 |
|
Other receivables |
3,290 |
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Other current
assets |
0 |
|
|
------------------ |
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Current assets |
182,060 |
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Long-term investment |
1,450 |
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Fixed assets net value |
32,990 |
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Project materials |
4,790 |
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Project under construction |
93,960 |
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Intangible assets |
11,290 |
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Deferred assets |
0 |
|
|
------------------ |
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Total assets |
326,540 |
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|
============= |
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Short loans |
37,980 |
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Note payable |
96,000 |
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Accounts payable |
82,240 |
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Advances from clients |
2,900 |
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Accrued payroll |
5,480 |
|
Dividend payable |
-90 |
|
Taxes payable |
-380 |
|
Other payable |
31,620 |
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Other current liabilities |
7,170 |
|
|
------------------ |
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Current liabilities |
262,920 |
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Long term liabilities |
450 |
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|
------------------ |
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Total liabilities |
263,370 |
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Equities |
63,170 |
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|
------------------ |
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Total liabilities & equities |
326,540 |
|
|
============= |
Income
Statement
Unit: CNY’000
|
|
as of Dec. 31,
2013 |
|
Turnover |
255,090 |
|
Cost of goods sold |
221,600 |
|
Taxes and additional of main operation |
10 |
|
Sales expense |
16,890 |
|
Management expense |
10,000 |
|
Finance expense |
5,340 |
|
Non-operation income |
6,540 |
|
Non-operation expense |
1,540 |
|
Profit before tax |
6,250 |
|
Less: profit tax |
0 |
|
Profits |
6,250 |
Important
Ratios
=============
|
|
as of Dec. 31,
2013 |
|
*Current ratio |
0.69 |
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*Quick ratio |
0.62 |
|
*Liabilities to assets |
0.81 |
|
*Net profit margin (%) |
2.45 |
|
*Return on total assets (%) |
1.91 |
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*Inventory /Turnover ×365 |
28 days |
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*Accounts receivable/Turnover ×365 |
43 days |
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*Turnover/Total assets |
0.78 |
|
* Cost of goods sold/Turnover |
0.87 |
PROFITABILITY:
AVERAGE
The turnover of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a fair level.
SC’s quick ratio is maintained in a fair level.
SC’s inventory is average in 2013.
SC’s accounts receivable is average in 2013.
SC’s short-term loan is fairly large in 2013.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
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 fairly large amount of short-term loan would be a threat to
SC’s financial conditions. Taking into consideration of SC’s operation size and
general performance, we would rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.