MIRA INFORM REPORT
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Report No. : |
352120 |
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Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
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Name : |
Yingde Greatchem
Chemicals Co., Ltd. |
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Registered Office : |
Hongfeng District, Shakou Town, Yingde, Guangdong Province, 513052 Pr |
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Country : |
China |
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Date of Incorporation : |
17.10.2003 |
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Com. Reg. No.: |
441800400007383 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling pesticide chemical materials, pesticide
intermediates and pesticide, research and development of new pesticide,
importing and exporting various types of pesticide and chemical products and
technology. |
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No. of Employees : |
200 |
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 : |
Unknown |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
Company
name & address
Yingde Greatchem Chemicals
Co., Ltd.
hongfeng district, shakou town, yingde,
guangdong PROVINCE, 513052 PR CHINA
TEL: 86 (0) 763-2551401/2551044 FAX: 86 (0) 763-2551846
EXECUTIVE
SUMMARY
INCORPORATION DATE : october 17, 2003
REGISTRATION NO. : 441800400007383
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. cai danqun (CHAIRMAN)
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 50,000,000
BUSINESS LINE :
manufacturing & trading
TURNOVER :
n/a
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : MODERATE AMOUNT
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3591 = USD 1 AS OF 2015-11-10
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’s detailed address should be the heading one.
SC was registered as a Chinese-foreign equity joint venture
enterprise at local Administration for Industry & Commerce (AIC
– The official body of issuing and renewing business license) on October 17,
2003, and later was changed into the present legal form.
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
pesticide chemical materials, pesticide intermediates and pesticide, research
and development of new pesticide, importing and exporting various types of
pesticide and chemical products and technology.
SC is mainly engaged in manufacturing and selling pesticide chemical
materials, pesticide intermediates and pesticide.
Mr. Cai Danqun has been legal representative, chairman and general
manager of SC since 2003.
SC is known to have approx. 200 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 Yingde. Our checks
reveal that SC owns the total premise, but SC’s accountant refused to release
the gross area.
http://www.greatchem.com.cn The design is professional and the content is well
organized. At present the web site is both in Chinese and English versions.
E-mail: greatchem@greatchem.com.cn
SC’s former shareholders were Cai Shaoxin 39.2% , Du Ruifeng 25.0%, Cai Danqun 10.8%, Li Jianru (Hong
Kong resident) 25.0%, the detailed shareholding change is not available at
present.
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Unknown |
Registration
No. |
001599 |
441800400007383 |
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Legal form |
Chinese-foreign equity joint venture enterprise |
Present one |
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2015-09-02 |
Registered capital |
CNY 40,000,000 |
CNY 45,000,000 |
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2015-11-03 |
Registered capital |
CNY 45,000,000 |
Present amount |
Organization Code: 755600266
Credibility Code: 91441881755600266B
For the past two years there is no record of
litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Cai Shaoxin 31.36
Cai Danqun 58.64
Yingde Zhongxing Investment Management Co., Ltd.
(in Chinese pinyin) 10
Yingde Zhongxing Investment Management Co., Ltd.
(in Chinese pinyin)
====================================
Registration no.: 441881000048919
Legal representative: Cai Danqun
Registered capital: CNY 11,800,000
Incorporation date: 2015-05-12
Legal
Representative, Chairman and General Manager:
Mr. Cai Danqun, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2003 to present Working in SC as legal
representative, chairman and general
manager
Also working in Yingde Zhongxing Investment Management Co., Ltd. (in
Chinese pinyin) and Guangzhou Greatchem Trade Co., Ltd. as legal
representative.
Vice
chairman:
Cai Shaoxin is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as vice chairman.
Directors:
Zheng Jingyin
Cai Miaoyu
Lin Zhongfa
Supervisor:
Jia Fengcong
SC is mainly engaged in manufacturing and selling pesticide chemical
materials, pesticide intermediates and pesticide.
SC’s products mainly include:
Insecticide
Fungicide
Herbicide
Nematicide
Non-agricultural products
SC sources its materials 98% from domestic market, and 2% from overseas
market. SC sells 95% of its products in domestic market, 5% 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 T/T, L/C and Credit of 30-60 days.
Note: SC refused to release its main suppliers and clients.
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Registration No. |
13743648 |
13743649 |
14740054 |
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Registration Date |
2015-02-28 |
2015-09-07 |
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Trademark Design |
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Subsidiary:
Guangzhou Greatchem Trade Co., Ltd.
=================================
Registration no.: 440106000513163
Legal representative: Cai Danqun
Incorporation date: 2011-10-13
Tel: +86-20-38319596, 38319244, 38319590
Fax: +86-20-38319242
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.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with 12 years operation history.
Taking into consideration of SC’s operation size and market conditions we would
rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.75 |
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1 |
Rs.100.68 |
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Euro |
1 |
Rs.70.88 |
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CNY |
1 |
Rs. 10.45 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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HEE |
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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 |
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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.