MIRA INFORM REPORT
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Report No. : |
321014 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG HEBEN PESTICIDE AND CHEMICALS CO., LTD. |
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Registered Office : |
South Of Oujiang Bridge, Liandun Road, Yanjiang Industrial Area
Wenzhou, Zhejiang Province 325000 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
11.11.1999 |
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Com. Reg. No.: |
330302000030894 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing pesticides (details of products and validity period is
in certificate of approval; validity period of industrial product license is
to 22nd April, 2013); importing and exporting
commodities and technologies (not engage in
any items prohibited by laws and administrative regulation; able to engage in
items that need permit according to laws and administrative regulation, after
obtaining the permit from relative authorities); leasing its own plants. |
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No. of Employees : |
500 |
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 : |
No Complaints |
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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 |
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 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
ZHEJIANG HEBEN PESTICIDE AND
CHEMICALS CO., LTD.
SOUTH OF OUJIANG BRIDGE, LIANDUN ROAD, YANJIANG INDUSTRIAL AREA
WENZHOU, ZHEJIANG PROVINCE 325000 PR CHINA
TEL: 86 (0) 577-88797730/88790581
FAX: 86 (0) 577-88799999/88797739
EXECUTIVE
SUMMARY
Date of Registration : NOVEMBER 11, 1999
REGISTRATION NO. : 330302000030894
LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
ZENG TING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny
70,000,000
staff :
500
BUSINESS CATEGORY :
manufacturing & trading
REVENUE :
CNY 237,681,000 (FROM JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 132,865,000 (AS OF JUN. 30, 2014)
WEBSITE : www.hb-p.com
E-MAIL :
hb-p@hb-p.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.20 = 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 a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
330302000030894 on November 11, 1999.
SC’s Organization Code Certificate No.:
14520731-X
SC’s Tax No.: 33030214520731X
SC’s registered capital: cny 70,000,000
SC’s paid-in capital: cny 70,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2002-01-24 |
Registered capital |
CNY 10,800,000 |
CNY 26,500,000 |
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2003-01-23 |
Registered capital |
CNY 26,500,000 |
CNY 38,000,000 |
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2004-04-02 |
Registered capital |
CNY 38,000,000 |
CNY 50,000,000 |
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2004-05-09 |
Shareholder (s) (% of Shareholding) |
Li Hongyi 9.38% Jin Xuelie 6.25% Pu Shaolin 6.25% Zhao Linghu 12.5% Zeng Zhongwu 34.37% Ye Guangwu 12.5% Zeng Ting 6.25% Jin Shanmei 6.25% Pu Jinlin 6.25% |
Li Hongyi 9.38% Jin Xuelie 6.25% Pu Shaolin 6.25% Zhao Linghu 12.5% Zeng Zhongwu 28.12% Ye Guangwu 12.5% Zeng Ting 6.25% Jin Shanmei 6.25% Pu Jinlin 6.25% Dai Hangxing 6.25% |
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2005-01-31 |
Shareholder (s) (% of Shareholding) |
Li Hongyi 9.38% Jin Xuelie 6.25% Pu Shaolin 6.25% Zhao Linghu 12.5% Zeng Zhongwu 28.12% Ye Guangwu 12.5% Zeng Ting 6.25% Jin Shanmei 6.25% Pu Jinlin 6.25% Dai Hangxing 6.25% |
Jin Qian 2.5% Li Xinwang 2.5% Zhao Zebin 2.5% Jin Shanmei 3.74% Pu Jinlin 6.25% Pu Shaolin 6.25% Dai Hangxing 6.25% Jin Xuelie 6.25% Li Hongyi 6.88% Zeng Ting 9.38% Zhao Linghu 10% Ye Guangwu 12.5% Zeng Zhongwu 25% |
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2006-08-18 |
Shareholder (s) (% of Shareholding) |
Jin Qian 2.5% Li Xinwang 2.5% Zhao Zebin 2.5% Jin Shanmei 3.74% Pu Jinlin 6.25% Pu Shaolin 6.25% Dai Hangxing 6.25% Jin Xuelie 6.25% Li Hongyi 6.88% Zeng Ting 9.38% Zhao Linghu 10% Ye Guangwu 12.5% Zeng Zhongwu 25% |
Jin Shanmei 8.3333% Pu Jinlin 8.3333% Pu Shaolin 8.3333% Dai Hangxing 8.3335% Jin Xuelie 8.3333% Li Hongyi 12.5% Zeng Ting 曾挺 8.3333% Zeng
Zhongwu 37.5% |
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2008-07-04 |
Registered no. |
3303021011831 |
330302000030894 |
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2009-01-04 |
Registered capital |
CNY 50,000,000 |
CNY 70,000,000 |
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Shareholder (s) (% of Shareholding) |
Jin Shanmei 8.3333% Pu Jinlin 8.3333% Pu Shaolin 8.3333% Dai Hangxing 8.3335% Jin Xuelie 8.3333% Li Hongyi 12.5% Zeng Ting 8.3333% Zeng Zhongwu
37.5% |
Jin Shanmei 8.55% Pu Jinlin 8.55% Pu Shaolin 8.55% Dai Hangxing 5.96% Jin Xuelie 8.55% Li Hongyi 12.82% Zeng Ting 15.04% Zeng Zhongwu 31.98% |
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2009-9 |
Shareholder (s) (% of Shareholding) |
Jin Shanmei 8.55% Pu Jinlin 8.55% Pu Shaolin 8.55% Dai Hangxing 5.96% Jin Xuelie 8.55% Li Hongyi 12.82% Zeng Ting 15.04% Zeng Zhongwu 31.98% |
Jin Xuelie 8.55% Pu Shaolin 8.55% Pu Jinlin 8.55% Jin Shanmei 8.55% Zeng Ting 15.04% Zeng Zhongwu 37.94% Li Hongyi 12.82% |
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-- |
Legal Representative |
Zeng Zhongwu |
Zeng Ting |
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Chinese Name |
浙江禾本农药化学有限公司 |
浙江禾本科技有限公司 |
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2013 |
Shareholder (s) |
Jin Xuelie 8.55% Pu Shaolin 8.55% Pu Jinlin 8.55% Jin Shanmei 8.55% Zeng Ting 15.04% Zeng Zhongwu 37.94% Li Hongyi 12.82% |
Jin Xiaoen 8.55% Pu Jianbo 8.55% Pu Jinlin 8.55% Jin Shanmei 8.55% Zeng Ting 15.04% Zeng Zhongwu 37.94% Li Hongyi 12.82% |
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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Jin Xiaoen |
8.55 |
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Pu Jianbo |
8.55 |
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Pu Jinlin |
8.55 |
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Zeng Shaoxia |
8.55 |
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Zeng Ting |
15.04 |
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Zeng Zhongwu |
37.94 |
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Li Hongyi |
12.82 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Zeng Ting |
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Director |
Wang Jinguo |
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Li Hongyi |
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Zeng Shaoxia |
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Supervisor |
Pu Jianbo |
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Jin Xiaoen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Jin Xiaoen 8.55
Pu Jianbo 8.55
Pu Jinlin 8.55
Zeng Shaoxia 8.55
Zeng Ting 15.04
Zeng Zhongwu 37.94
Li Hongyi 12.82
MANAGEMENT
Zeng Ting, Legal Representative, Chairman and General
Manager
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Gender: M
Age: 40
ID# 330302197502272813
Qualification: University
Working experience (s):
Before, worked in SC as general manager
At present, working in SC as legal representative, chairman and general
manager
Director
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Wang Jinguo ID# 330302640324283
Li Hongyi ID#
330321195406193613
Zeng Shaoxia
Supervisor
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Pu Jianbo
Jin Xiaoen
BUSINESS OPERATION
SC’s registered business scope includes manufacturing pesticides (details
of products and validity period is in certificate of approval; validity period
of industrial product license is to 22nd April, 2013); importing
and exporting commodities and technologies (not engage in any items prohibited by laws and administrative
regulation; able to engage in items that need permit according to laws and
administrative regulation, after obtaining the permit from relative
authorities); leasing its own plants.
SC is mainly engaged in manufacturing and selling pesticides.
Brand: HBP
SC’s products mainly include: Benalaxyl, Difenoconazole, Fentin Acetate,
Metalaxyl, Azamethiphos, Chlorpyrifos, Fenbutatin Oxide, Imidacloprid,
Niclosamide-Olamine, Bispyribac-Sodium and Tralkoxydim.
SC sources its materials 80% from domestic market and 20% from the
overseas market. SC sells 40% of its products to overseas market and 60% in domestic 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:
==============
Bayer Cropscience S.A.
Nufarm Americas Inc.
Albaugh Inc.
Agroquim Cia Ltd.
Staff &
Office:
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SC is known to have approx. 500
staff at present.
SC rents an area as its operating office & factory of approx. 58,000
sq. meters at the heading address.
RELATED COMPANY
Wenzhou Hyde Chemicals Co., Ltd.
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Date of Registration: July 18, 2008
Registration No.: 330302000033006
Chief Executive: Zeng Ting曾挺
Jiangsu Heben Biochemical Co., Ltd.
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Date of Registration: November 14, 2007
Registration No.: 320600400024870
Chief Executive: Zeng Zhongwu曾仲武
Registered Capital: USD 10,000,000
SC is known to
have a subsidiary at present,
Wenzhou Heben Pesticide Sales Co., Ltd.
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Date of Registration: October 24, 2000
Registration No.: 330304000044601
Chief Executive: Zeng Zhongwu
Registered Capital: CNY 500,000
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 Construction Bank Wenzhou Branch Fuqian Sub-branch Gean Road
Office
AC#: 330629563010026301722
China Construction Bank Wenzhou Branch Fuqian Sub-branch
AC#: 33001628784059023456
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Jun. 30,
2014 |
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Total assets |
288,954 |
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Total liabilities |
156,089 |
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Equities |
132,865 |
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Unit: CNY’000 |
From Jan. 1,
2014 to Jun. 30, 2014 |
|
Revenue |
237,681 |
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Profits |
5,256 |
Important Ratios
=============
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As of Jun. 30,
2014 |
|
*Liabilities to assets |
0.54 |
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*Net profit margin (%) |
2.21 |
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*Return on total assets (%) |
1.82 |
|
*Revenue/Total assets |
0.82 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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.63.64 |
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|
1 |
Rs.96.81 |
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Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.