MIRA INFORM REPORT
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Report No. : |
319306 |
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Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HANTRONG INVESTMENT CO., LTD. |
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Registered Office : |
1/F, No. 5 Building, Yard 6, Jingshun East Street Chaoyang District, Beijing 100015 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.03.1996 |
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Com. Reg. No.: |
110000005067874 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in international trade and industrial investment. |
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No of Employees : |
82 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name & address
HANTRONG INVESTMENT
CO., LTD.
1/F, NO. 5 BUILDING,
YARD 6, JINGSHUN EAST STREET
CHAOYANG DISTRICT,
BEIJING 100015 PR CHINA
TEL: 86 (0)
10-84536170/84306409/84536121
FAX: 86 (0)
10-84536140
EXECUTIVE
SUMMARY
Date of Registration : MARCH 18, 1996
REGISTRATION NO. : 110000005067874
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL :
CNY 242,400,000
staff : 82
BUSINESS CATEGORY :
TRADE & INVESTMENT
Revenue :
CNY 5,588,303,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 199,832,000 (AS OF DEC. 31, 2014)
WEBSITE : www.hantrong.com
E-MAIL :
yuerong@hantrong.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.21 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
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
LEGAL
STATUS & HISTORY
SC was established
as one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 110000005067874.
SC’s Organization Code Certificate
No.: 10117715-5
SC’s Tax No.: 110108101177155
SC’s registered capital: CNY 242,400,000
SC’s paid-in capital: CNY 242,400,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2000-11-2 |
Legal Representative |
Zhou Yucheng |
Ma Guofu |
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2003-7-23 |
Legal Representative |
Ma Guofu |
Liu Guosheng |
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2005-6-22 |
Legal Representative |
Liu Guosheng |
Wang Wei |
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2007-6-1 |
Registered Capital |
CNY 58,000,000 |
CNY 146,800,000 |
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2007-7-17 |
Company Name |
Beijing Huayuan Yatai High- Tech Co., Ltd. |
Hantrong Investment Co., Ltd. |
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2008-10-21 |
Registered Capital |
CNY 146,800,000 |
CNY 203,800,000 |
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-- |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
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2012-5-4 |
Registered Capital |
CNY 212,000,000 |
CNY 232,000,000 |
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2013-10-24 |
Registered Capital |
CNY 232,000,000 |
CNY 242,400,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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China Hi-tech Group Corporation |
100 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Wang
Wei |
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Supervisor |
Wang
Fukui |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name % of
Shareholding
China Hi-tech Group Corporation 100
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Date of Registration: September 9, 1988
Registration No.: 100000000008889
Registered Capital: CNY 3,257,212,500
Add.: China Garments Mansion, No. 99 Jianguo
Road, Chaoyang District, Beijing
Tel: 86(10) 65838033
Fax: 86(10) 65813211
Website: www.chtgc.com
E-mail: hengtian@chtgc.com
MANAGEMENT
Wang
Wei, Legal Representative,
Chairman and General Manager
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Ø
Gender: M
Ø
Age: 55
Ø
ID# 120106601018127
Ø Qualification:
University
Ø Working experience
(s):
From 2005 to present, working in SC as legal
representative, chairman and general manager
Supervisor
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Wang Fukui
BUSINESS
OPERATION
SC’s registered
business scope includes wholesaling highly toxic chemicals, precursor chemicals
and other hazardous chemicals; retailing prepackaged food, dairy products;
investment and investment management; assets management; importing and
exporting commodities and technologies; developing real estate; selling
self-developed commercial residential building; property management; information
consulting; technology development, technology consulting, technology transfer,
technology services; selling cotton, chemical products, agricultural
byproducts, metal materials, building materials, hardware, machinery equipment,
metal ore, cars; manufacturing and selling garments; warehousing service;
specialized contracting.
SC is mainly
engaged in international trade and industrial investment.
SC’s
products mainly include: textiles, chemical fiber raw materials, agricultural
and livestock products, building materials, cosmetics, etc.
SC sources its products 30% from domestic market, and 70% from overseas market. SC sells 80% of its products in domestic market, and 20% to overseas market.
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.
*Major Customers:
==============
Bank Bros and Son
Ltd.
Orchard Yarn &
Thread Co.
Staff & Office:
--------------------------
SC is
known to have approx. 82
staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
Chifeng Huayuan Textile Co., Ltd.
Beijing Warm & Suitable Technology Co., Ltd.
Beijing Huayuan Life Tech-Trading Development Co.
Ltd.
Beijing
Huayuan Jingdu Real Estate Development Co.,
Ltd.
Shanghai Pora Cosmetics Co. Ltd.
Shanghai
Follow Cosmetics Co., Ltd.
Etc.
SC is known to have a
subsidiary at present:
SINOEV
Tech Co., Ltd.
------------------------------------------------
Date of Registration: December 2, 2013
Registration No.: 110114013048965
PAYMENT
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.
BANKING
Basic Bank:
China CITIC Bank
Fuhua Building Sub-branch
AC#:
7110310182300052900
***note: SC’s management declined to release
whether it has account in China
Erverbright Bank, H.O.Banking Dept. Beijing.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
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Total assets |
737,633 |
1,100,294 |
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Total liabilities |
549,186 |
900,462 |
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Equities |
188,447 |
199,832 |
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------------- |
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Revenue |
3,213,105 |
5,588,303 |
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Profit before
tax |
8,745 |
11,313 |
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Less: profit tax |
0 |
0 |
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Profits |
8,745 |
11,313 |
Important Ratios
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As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
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*Liabilities
to assets |
0.74 |
0.82 |
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*Net profit
margin (%) |
0.27 |
0.20 |
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*Return on
total assets (%) |
1.19 |
1.03 |
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*Revenue/Total
assets |
4.36 |
5.08 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC appears fairly good in its line.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with
stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
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|
1 |
Rs. 97.98 |
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Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.