This report prepared by Huaxia D&B China is sent to answer your inquiry on:

Hangzhou Qiantang River Electric Group Co., Ltd.

D-U-N-S: 52-999-1796

Prepared for   :   Online Trust
Subscriber Key   :   927999999
Delivery Date   :   May 12,2009
Printed on   :   May 12,2009
Inquiry Date   :   Apr 17,2009
Inquiry Subject   :   杭州钱江电气集团股份有限公司
Inquiry Address   :   杭州市萧山区钱江电气科技工业园 杭州
Inquiry Phone/Fax   :   (P)0571-82582099 (F)0571-82582951
Inquiry Reference   :   Online Trust CS Dept.

Copyright © 2007 Shanghai Huaxia Dun & Bradstreet Business Information Consulting Co., Limited

THIS REPORT MAY NOT BE REPRODUCED IN WHOLE OR IN PART IN ANY FORM OR MANNER WHATSOEVER
This report, furnished pursuant to contract for the exclusive use of the subscriber as one factor to consider in connection with credit, insurance, marketing or other business decisions, contains information compiled from sources which Shanghai Huaxia Dun & Bradstreet Business Information Consulting Co., Limited (Huaxia D&B China) does not control and whose information, unless otherwise indicated in the report, has not been verified. In furnishing this report, Huaxia D&B China in no way assumes any part of the user's business risk, does not guarantee the accuracy, completeness, or timeliness of the information provided, and shall not be liable for any loss or injury whatever resulting from contingencies beyond its control or from negligence.
 
   
Identification & Summary Risk Trade History Principals Operations Structure Finance Public Records Appendices

Hangzhou Qiantang River Electric Group Co., Ltd.
Report compiled May 12,2009
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IDENTIFICATION & SUMMARY

 Summarise  
 
   
 

Identification
Company Name Hangzhou Qiantang River Electric Group Co., Ltd.
Chinese Name 杭州钱江电气集团股份有限公司
DUNS® Number 52-999-1796
Address Qiantang River Electric Science & Technology Industrial Zone, Kanshan
Town, Xiaoshan District
Hangzhou
Zhejiang
Postal Code 311243
Address (Chinese) 萧山区坎山镇梅仙村钱江电气科技园
杭州市
浙江省
Telephone 0571 82582099
0571 82583958
Facsimile 0571 82582108
0571 82582951
Website www.qre.com.cn
Type of Business A joint stock
Year Started 1976
History Clear
Exports Yes
Employees 1,200 (Total)
1,000 (Here)
Principal Zhongxiao XIANG / Chairman
US SIC Code 3677 0000
Primary Business Electronic coils and transformers
 
 

Risk Summary

    
 
RISK EVALUATION
   
  Risk Index 1  
  D&B Rating 4A3(PRV. 4A3)  
 
LEGAL EVENTS
   
  Litigation Records 0  
 
PRINCIPAL INFORMATION
   
  Principal(s) 1  
 
PAYMENT INFORMATION
   
  Trade References 2  
 
COMPANY KEY EVENTS
   
  History Changes 2  
  Media Records 0  
 
FINANCIAL SUMMARY
   
  Registered Capital RMB 60,000,000  
  Sales/Turnover 1,109,968,000 (2008)  
  Tangible Net Worth 355,940,000 (2008)  
  Total Assets 1,280,051,000 (2008)  
  Shareholders Equity 365,239,000 (2008)  
 
 
Click on summary items for full details
 
 
 
CURRENCY
All monetary amounts quoted in this report are shown in Renminbi(RMB) unless otherwise stated.
 
REMARK
"-" stands for "Insufficient information" or "No comments".
 
 
   

Risk Assessment


  Risk Index 1  
  Relative Risk  
 
 Low Risk
 
   
  1 6  
 
  D&B Rating 4A3 (Previous 4A3)  
  Financial Strength 4A (Based on tangible net worth 355,940,000 )  
  Composite Appraisal 3 Overall credit condition - Fair

  

Company Overview

Subject is a joint stock, mainly engaged in manufacturing transformer. In 2008, it realized sales revenue of RMB 1,109,968 thousand, up 6.84% over that of previous year and debt ratio of 0.65. In general, subject enjoys stable operation.

Current Investigation


On Apr 20,2009 , Ms. Gui Lifeng, Foreign Trade Dept. Director.

(Tel:0571-82582099)confirmed all information in this report.

Report name is subject’s official English name.

History Changes

Date   Event
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RISK ANALYSIS
Summarise
 
   

Risk Index


1  2  3  4  5  6 

Company Risk Index

The Company Risk Index is 1, indicating Low Risk


Risk Index Analysis

Major factors influencing company's risk index are as follows:

  1. Legal status
  2. Long history company
  3. Large Registered capital scale
  4. Industry classification
Risk Index
1
Industry Norm Grouping
       
  Industry Group SIC 3677  
  Industry Group Description Electronic coils and transformers  
  Industry Group Risk Index Quartile Values
Lower Quartile 3
Median 4
Upper Quartile 5
 

Company Risk Vs Industry Norm Chart
Risk Index
Lower Quartile
Median
Upper Quartile
  0 1 2 3 4 5 6   
Risk Index
Hangzhou Qiantang River Electric Group Co., Ltd. Industry
Distribution of Risk Index in Huaxia D&B China's Database
40%
35%
30%
25%
20%
15%
10%
5%
0%
  1 2 3 4 5 6
 
Index Distribution
1 12%
2 6%
3 14%
4 28%
5 33%
6 7%

Note: please refer to the report appendix for the principle and major factors of Huaxia D&B China risk index.

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TRADE PAYMENTS
Summarise
 
   

Trade Payment Information


Trade Payment Experiences Summary
Value Bands
RMB		 No. of Exp Total Value
RMB		 Within
Terms		 1-30
Days		 31-60
Days		 61-90
Days		 91+
Days
>2,000,000 2 152,000,000 100% 0% 0% 0% 0%
200,000 - 1,999,999 0 0 0% 0% 0% 0% 0%
100,000 - 199,999 0 0 0% 0% 0% 0% 0%
20,000 - 99,999 0 0 0% 0% 0% 0% 0%
10,000 - 19,999 0 0 0% 0% 0% 0% 0%
<10,000 0 0 0% 0% 0% 0% 0%
TOTAL 2 152,000,000 100% 0% 0% 0% 0%

Detailed Information
 
Detailed Information
Trade Payment Experiences Details

(Amounts may be rounded to the nearest figure in prescribed ranges)

Date Paying Record High Credit Now Owes Past Due Selling Terms Last Sale
Apr 24,2009 Prompt 150,000,000 0 0 Advance Apr 24,2009
Apr 24,2009 Prompt 2,000,000 0 0 Net 30 Apr 24,2009
 

Note: The above payment record reflects how accounts are paid in relation to the terms granted. Slow-30, for example, indicates a 30 day term where 30 additional days are taken. In some instance, payment beyond terms can be the result of disputes over merchandise, lost invoices, etc

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HISTORY
Summarise
 
   

Registration


Registration Date Dec 28,1998
Registered At Zhejiang Administration for Industry & Commerce
Registration No. 330000000030283
National Organization Code 255691712
Registered Capital RMB 60,000,000
Tax No. 330181255691712
Business Started 1976
Type of Business a joint stock
Registered Address Guangming Industrial Zone, Kanshan Town,
Xiaoshan Dist., Hangzhou, Zhejiang
Legal Representative Xiang Zhongxiao
Business Scope Manufacturing, processing, selling electronic engineering and electrical appliance product; selling metal material, machinery hardware, electronic engineering appliance, chemical product (excluding dangerous product), insulating material, merchandise; managing the import and export business ( detail scope according to the province foreign economic and trade office); restaurant, quarter and dancery ( limited the branch managing).

Shareholder(s)

Shareholding Structure

Name Region/ Country Shares Investment Mode Paid-Up Rate
Hangzhou Hangyong Investment Co., Ltd.
杭州杭甬投资有限公司 		China 37.67% Cash fully paid
Hangzhou Xiaoshan Kanshan Asset Management Co.
杭州箫山坎山镇资产经营公司 		China 10% Cash fully paid
Zhejiang Zhongxin Electric Power Development Group Co., Ltd.
浙江中新电力发展集团有限公司 		China 25% Cash fully paid
Hangzhou Tenglong Pipe Industry Co., Ltd.
杭州腾龙管业有限公司 		China 2.34% Cash fully paid
Xiang Zhongxiao
项忠孝 		China 2.34% Cash fully paid
Wang Jianli
王建利 		China 3.08% Cash fully paid
Xu Shuikang
许水康 		China 3.08% Cash fully paid
Gu Shengjian
顾胜坚 		China 3.08% Cash fully paid
Fan Yougen
范有根 		China 3.08% Cash fully paid
Gu Shenggen
顾胜根 		China 10.33% Cash fully paid
Total   100%    

Comment:

  • Subject passed the annual inspection of 2007 with Zhejiang Administration for Industry & Commerce.
  • Subject is still in the process of annual industrial and commercial inspection of 2008 with local Administration for Industry & Commerce， but hasn't completed yet.
  • The names of subject's shareholders are literally translated from their Chinese names.
  • Subject’s predecessor is Xiaoshan County Guangming Transformer Factory.

    • Key Event

    Date: Event:
      Subject’s address was renamed from Guangming Industrial Zone, Kanshan Town, Xiaoshan Dist., Hangzhou to the captioned one.

    History Changes

    Name Changed

    From: Hangzhou Qianjiang Electric Group Co., Ltd.
    To: captioned name  

    Chairman Changed

    From: 3300001005351
    To: 330000000030283  


    History Summary

    Subject, whose predecessor is Xiaoshan County Guangming Transformer Factory established in 1976, was incorporated by Hangzhou Hangyong Investment Co., Ltd., Hangzhou Xiaoshan Kanshan Asset Management Co., Zhejiang Zhongxin Electric Power Development Group Co., Ltd., Hangzhou Tenglong Pipe Industry Co., Ltd., Xiang Zhongxiao and other 5 natural persons in 1998. Now, the registered capital reaches RMB 60 million.

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    PRINCIPALS
    Summarise
    		 
       

    Principal(s)

    Zhongxiao XIANG - Chairman/Legal Representative
    项 忠孝

    Gender Male
    Year of Birth 1949
    ID Number 330121491018601
    Education university
    Started with Subject 1998
    Activity Status Yes
    Related Working Experience Since 1976

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    OPERATIONS

    		 Summarise  
       

    Line of Business

    Subject is mainly engaged in manufacturing and selling electronic transformers.


    3677 0000 Electronic coils and transformers

    Brands

    Brands Owned CQ
    QRE

    Licenses

    License Name independent import and export right
       

    Products & Services

    Product Name Maximum Productivity  
    Power Transformer 450 sets per year
    Distribution Transformer 29000 sets per year
    dry type transformer 2400 sets per year
    tank type transformer 10000 sets per year

    Purchasing

    Purchase Territory

    Area Percent Region/Country
    Domestic 100% -

    Purchasing Terms

    Terms   Percent
    Credit 30 days -
    Advance - -

    Purchasing Settlement Method

    Settlement Method Percent
    Check  
    T/T  

    Major Suppliers

    Area Name DUNS  
    Domestic Wuhan Iron And Steel Company Limited 42-071-8603  
    Domestic Wuxi Xizhou Magnet Wires Co., Ltd. 52-798-0776  
    Domestic Hangzhou Qianjiang Electrical Manufacturing Co.,Ltd. 54-782-0878  

    Selling

    Sales Territory

    Area Percent Region/Country
    Domestic 89% -
    Overseas 11% India ( 70% )
    Byelorussian SSR ( 10% )
    South East Asia ( 10% )
    Africa ( 5% )  

    Export Value

    Year Amount
    2008   USD 20,000,000  

    Selling Terms

    Terms   Percent
    Credit 30 days -
    Partial Advance - -
    L/C (Sight) - -

    Selling Settlement Method

    Settlement Method Percent
    T/T  
    Check  
    L/C  

    Customer Type

    Type Percent
    Manufacturers  

    Major Customers

    Area Name DUNS
    Domestic Jiangsu Electric Power Material Co., Ltd. 54-531-3848
    Domestic Hangzhou Hengcheng Investment Company  
    Domestic Ningbo Economic & Technical Development Zone Zhicheng Electric Co., Ltd.  
    Domestic Baoshan Iron & Steel Co., Ltd. 65-379-9841
    Overseas Greenssol Power System Pvt Ltd.  

    Employees

    Employee Size

    Type Number
    Total 1,200
    Here 1,000
    Sales Person 60
    Administrative Staff 106
    Financial Staff 20
    Technician 120

    Operations Summary
    Subject is mainly engaged in manufacturing and selling transformer with power transformers, distribution transformers, dry-type transformer and box-type transformer as its major products. 89% of the products are sold in national market and 11% of them are exported to India, Byelorussia, South-East Asia and Africa.
    Main customers include Jiangsu Electric Power Material Co., Ltd., Hangzhou Hengcheng Investment Company, Ningbo Economic & Technical Development Zone Zhicheng Electric Co., Ltd., Baoshan Iron & Steel Co., Ltd., etc., Greenssol Power System Pvt Ltd.
    In terms of purchasing, 100% of the products are purchased in national market. Wuhan Iron And Steel Company Limited, Wuxi Xizhou Magnet Wires Co., Ltd., Hangzhou Qianjiang Electrical Manufacturing Co., Ltd. act as its major suppliers.

    Location

    Principal Place of Business

    Location Description An industrial area
    Land Area 230,000 sqm
    Used as Office and factory
    Occupation Type Owns

    Other Place of Business

    Type REGISTERED ADDRESS
    Address Guangming Industrial Zone, Kanshan Town,
    Xiaoshan Dist., Hangzhou, Zhejiang
       

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    CORPORATE STRUCTURE
    Summarise
    		 
       

    Linkage Up

    Minor Shareholder(s) of Subject

    Company Name Hangzhou Hangyong Investment Co., Ltd.
    Address
      China
    Shares held in subject 37.68%
       
    Company Name Hangzhou Xiaoshan Kanshan Asset Management Co.
    Address
      China
    Shares held in subject 10%
       
    Company Name Zhejiang Zhongxin Electric Power Development Group Co., Ltd.
    Address
      China
    Shares held in subject 25%
       
    D-U-N-S 52-999-6860
    Company Name Hangzhou Tenglong Pipe Industry Co., Ltd.
    Address
      China
    Shares held in subject 2.34%

    Linkage Down

    Subsidiaries (subject owns more than 50%)
    		 Address Duns
    Hangzhou Qiandian Complete Electric Equipment Co., Ltd
    71.1% owned by subject     		China
    Hangzhou Qianjiang Transformer Discreteness Co., Ltd. Guangming Industrial Zone, Kanshan Town, Xiaoshan
    Hangzhou 311208
    China    		 65-385-4828
    Hangzhou Qianjiang Electric Manufacturing Co., Ltd. Inside Guangming Industry Zone, Kanshan Town, Xiao
    Hangzhou 311243
    China    		 54-782-0878
    Hangzhou Qiandian Transformer Equipment Co., Ltd.
    69.75% owned by subject     		China 54-535-9320
    Hangzhou Qiantang River Transformer Co., Ltd.
    74.07% owned by subject     		China 54-512-7842
    Hangzhou Qiandian Special Transformers Co., Ltd
    71.75% owned by subject     		China
    Hangzhou Qiandian Electric Sales Co., Ltd China
    Affiliates
    		Address Duns
    Jiangxi Qianjiang Electric Co., Ltd. Electric Power Industry Park, Fenglin Avenue,
    Economic and technical development zone

    China    		 54-484-3837
    Quzhou HangYong Transformers Co., Ltd China 52-707-7397
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    FINANCE & BANKING
    Summarise
    		 
       

    Finance


    The 2008 financial statements were submitted by the company personnel.

    Financial Highlights

         
         		  
         		 Dec 31,2008
    RMB '000    		 Change
    %    		 Dec 31,2007
    RMB '000    		  
      Current Assets     1,112,372 8.29% 1,027,238  
      Current Liabilities     819,695 7.20% 764,671  
      Working Capital     292,677 11.47% 262,567  
      Tangible Net Worth     355,940 5.59% 337,088  
      Fixed Assets     152,619 -2.36% 156,302  
      Total Assets     1,280,051 6.98% 1,196,488  
      Total Liabilities     834,695 7.06% 779,671  
      Shareholders Equity     365,239 6.02% 344,502  
      Sales     1,109,968 6.84% 1,038,887  
      Net Profit     39,536 -17.23% 47,767  

    Balance Sheet

         
         		 Dec 31,2008
    RMB '000
    Fiscal
    (Consolidated)    		 Dec 31,2007
    RMB '000
    Fiscal
    (Consolidated)    		  
      Cash and Bank   296,925 210,186  
      Accounts Receivables   367,437 347,364  
      Notes Receivables   14,216 10,447  
      Other Receivables   42,003 55,954  
      Prepaid Expense   - 521  
      Inventory   363,703 321,644  
      Advance to Suppliers   26,412 79,446  
      Other Current Assets   1,676 1,676  
      Total Current Assets   1,112,372 1,027,238  
      Fixed Assets, at cost   243,034 228,831  
      Less Acc. Depreciation   (91,101) (72,925)  
      Construction in Progress   686 396  
      Total Fixed Assets   152,619 156,302  
      Intangibles   9,299 7,414  
      Total Intangible Assets   9,299 7,414  
      Long Term Investment   5,565 4,689  
      Deferred Assets   - 133  
      Other Assets   196 712  
      Total Investment & Other Assets   5,761 5,534  
      TOTAL ASSETS   1,280,051 1,196,488  
      Short-Term Loans   315,000 256,500  
      Accounts Payable   142,772 174,071  
      Notes Payable   184,000 208,320  
      Other Payables   76,321 38,923  
      Advances from Customers   79,020 55,081  
      Tax Payable   17,751 25,796  
      Accrued Expenses   1,103 885  
      Provision for Dividends   2,001 2,002  
      Other Current Liabilities   1,001 1,365  
      Accrued Payroll   133 130  
      Accrued Welfare   593 1,598  
      Total Current Liabilities   819,695 764,671  
      Medium/Long Term Loans   15,000 15,000  
      Total Non-Current Liabilities   15,000 15,000  
      Total Liabilities   834,695 779,671  
      Capital   60,000 60,000  
      Capital Reserve   105,205 104,767  
      Surplus   69,505 68,431  
      Retained Earnings   130,529 111,304  
      Total Equity   365,239 344,502  
      Minority Interest   80,117 72,315  
      TOTAL LIABILITIES & EQUITY   1,280,051 1,196,488  

    Profit & Loss Statement

         
         		 Dec 31,2008
    RMB '000
    Fiscal
    (Consolidated)    		 Dec 31,2007
    RMB '000
    Fiscal
    (Consolidated)    		  
      Sales   1,109,968 1,038,887  
      -Cost of Goods Sold   909,101 821,092  
      -Sales Tax   3,849 4,317  
      Gross Profit/Loss   197,018 213,478  
      +Other Operating Income   12,229 4,002  
      -Operating Expenses   53,738 49,844  
      -Administrative Expenses   58,729 56,002  
      -Financial Expenses   30,203 18,966  
      Operating Profit/Loss   66,577 92,668  
      +Non-Operating Income   2,652 1,993  
      -Non-Operating Expense   1,219 2,345  
      Profit/Loss Before Tax   68,010 92,316  
      -Income Tax   15,429 28,824  
      Profit/Loss After Tax   52,581 63,492  
      +Minority Interest   (13,045) (15,725)  
      Net Profit(Loss)   39,536 47,767  

    Key Financial Ratios

      Ratio
    		   2008 2007  
      Current Ratio   1.35 1.34  
      Quick Ratio   0.91 0.92  
      Total Debt/Equity Ratio   2.28 2.26  
      Debt Ratio   0.65 0.65  
      Collection Period (Days)   119 120  
      Payment Period (Days)   56 76  
      Inventory Turnover (Days)   144 141  
      Asset Turnover   0.86 0.86  
      Gross Profit Margin %   17.75 20.54  
      Net Profit Margin %   3.56 4.59  
      Return on Equity %   10.82 13.86  
      Return on Assets %   4.10 5.30  
    Financial Comments
     
    • 'Non Operating Income' of 2008 financial statement including 'Return on Investment' RMB 1,209,101
    		 

    Industry Financial Norms

      Ratio
    		 2007 2006 2005  
      No. of enterprises covered 35 53 47  
      Current Ratio
    Total Current Assets/Total Current Liabilities    		 1.19 1.54 1.13  
      Quick Ratio
    (Total Current Assets - Total Inventory)/Total Current Liabilities    		 0.85 1.16 0.84  
      Debt/Equity Ratio
    Total Liabilities/Total Equity    		 3.20 1.34 1.74  
      Debt Ratio
    Total Liabilities/Total Assets    		 0.64 0.80 0.64  
      Collection Period (Days)
    Accounts Receivable/Sales x 360    		 76.31 136.20 86.35  
      Payment Period (Days)
    Accounts Payable/Cost of Sales x 360    		 114.05 181.57 102.38  
      Inventory Turnover (Days)
    Total Inventory/Cost of Sales x 360    		 57.18 127.07 70.96  
      Asset Turnover
    Net Sales/Total Assets    		 1.31 1.10 1.02  
      Net Profit Margin %
    Net Profit(Loss)/Sales x 100%    		 7.54 2.46 3.30  
      Return On Equity %
    Net Profit(Loss)/Total Equity x 100%    		 29.98 25.11 18.15  
      Return On Assets %
    Net Profit(Loss)/Total Assets x 100%    		 9.49 3.54 2.88  

  • Above industry financial norms were derived by calculating the data in HDBC's database.

    Banking

    The company maintains relationship(s) with the following bank(s) in China:

    The Industrial & Commercial BANK OF CHINA, Hangzhou Xiaoshan Sub Branch

    Address Chenghe St., Xiaoshan, Hangzhou
    Telephone 0571-82628321
    Account Number 1202090109004769856

    Bank of China, Xiaoshan Sub Branch

    Address No.288, Renmin Rd.
    Telephone 0571-82891033
    Account Number 803006202008093001
    Foreign Account Number 803006202008096014

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    		•   
       

    INDUSTRY HIGHLIGHTS

    		 Summarise  
     
       

    Industry Highlights


    Date Jul29,2008
    Source Statistics Authorities
    Detail The China Industrial Statistics Briefing for year 2007 indicated that China has 1388 above designated size enterprises engaged in Transformers Rectifier,Electric Capacity, with total employee size of 360,650. In year 2007, this sector posted sales growth of 24.341% along with total profit growth of 47.756% over the previous year. Of the all the businesses, 1,176 made profit in year 2007, translating to 84.7% of the industrial universe. Major financial indicators of this sector resulted as debt ratio 0.626, gross margin, 17.402%, ROA, 6.949%, assets turnover, 1.10, and collection period (DSO), 84days.
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    Public Records
    Summarise
    		 
       

    Litigation Records

    Up to Apr 20,2009 , HDBC has searched the China Court website, website of local court in the place where subject is located, major domestic courts nets as well as our internal China court database, but no related
    court records can be found against the subject during current investigation.
    Clarifications:
    1. There lacks public access to litigation records in Chinese courts.
    2. There also lacks a centralized database for litigation information as China’s legal regime is built vertically and one segment is separate from another.
    3. Information search is not feasible in courts.
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    APPENDICES

    		 Summarise  
       

    HDBC Risk Index
    Summarise

    The HDBC Risk Index is based on a scale of 1 to 6, where 1 represents a lower and 6 a higher credit risk. The index is computed using available data in HDBC's information database.

    The HDBC Risk Index was developed by a data profiling approach analyzing payment defaults and business failure cases. It reflects the credit risk of the observed subject, which assists users to make appropriate credit decisions.

    HDBC Risk Index Commentary
      HDBC Credit Risk Index   % of Report in Database   Commentary  
      1   10%   Low Risk  
      2   16%   Lower Than Average Risk  
      3   25%   Average Risk  
      4   22%   Slightly Higher Than Average Risk  
      5   18%   Higher Than Average Risk  
      6   9%   High Risk  

    The HDBC Risk Index is derived from an Index Development Sample of more than 1,000,000 company records. When using the Index to make individual applicant decisions, a customized version of this table based on an analysis of the Index against your customer account portfolio is recommended. It does not necessarily mean doing business with a company, which is assigned with higher Risk Index, will result in increased credit risk.

    The HDBC Risk Index was re-estimated in June 2006 and was computed based on up-to-date information currently available in D&B's global database, using the expertise and advanced statistical techniques of D&B.


    The Key Drivers of the HDBC Risk Index include the following:

    Business Information

    • Legal Company Structure
    • Industry
    • Employee Size
    • Export/Import Indicator
    • Registered Capital
    • Age of Company
    • HDBC History Indicator
    • Family Support

    Financial Information

    • Quick Ratio
    • Debt Ratio

    Geographical Information

    • Region & Province

    Payment Information

    • Slow Payment
    • Amount of Overdue Payment

    Public Filing Information

    • Court Actions
    HDBC Risk Index Application

    This HDBC Risk Index provides you with a quick assessment of a business' risk standing, and when used together with other information, allows you to make better risk decisions. Applications of the HDBC Risk Index can include:

    • Assessing new credit applications or new vendors.
    • Monitoring existing accounts for credit limit adjustments.
    • Determining account receivable collection activity or track trends in supplier stability.
    New Credit Assessment Application
    • Low Risk Index - May proceed to process the applicant quickly with minimal or no manual review depending on the extent of index validation analysis. All credit limits should be based on applicant's capacity.
    • Medium Risk Index - Recommend a manual review of the applicant or adjusting your credit terms based on the applicant's capacity, your internal credit policy and risk tolerance.
    • High Risk Index - Requires thorough manual review of potential decline, or approval based on an up-front cash basis depending on the applicant's capacity, your internal credit policy and risk tolerance.

    The above illustration assumes that the credit grantor has no prior history or experience with the new applicant and is using the HDBC Risk Index in combination with other information including an internal credit application, other HDBC data, and sales channel input.

    * The HDBC Risk Index values within each of the 3 risk levels above should be based on, and defined by, the analysis of the HDBC Risk Index against your customer account portfolio to determine the optimal index ranges within each risk level.

    D&B Rating
    Summarise

    D&B Rating Interpretation Tables

      Financial Strength   Composite Credit Appraisal
    Rate Renminbi (RMB) High Good Fair Limited
    5A 450,000,000 and over 1 2 3 4
    4A 85,000,000 to 449,999,999 1 2 3 4
    3A 8,500,000 to 84,999,999 1 2 3 4
    2A 6,500,000 to 8,499,999 1 2 3 4
    1A 4,500,000 to 6,499,999 1 2 3 4
    BA 2,500,000 to 4,499,999 1 2 3 4
    BB 1,750,000 to 2,499,999 1 2 3 4
    CB 1,000,000 to 1,749,999 1 2 3 4
    CC 650,000 to 999,999 1 2 3 4
    DC 450,000 to 649,999 1 2 3 4
    DD 300,000 to 449,999 1 2 3 4
    EE 200,000 to 299,999 1 2 3 4
    FF 85,000 to 199,999 1 2 3 4
    GG 50,000 to 84,999 1 2 3 4
    HH Below 50,000 1 2 3 4
    1R Over 999,999   2 3 4
    2R 450,000 to 999,999   2 3 4
    The symbols 5A - HH are based on tangible net worth; 1R and 2R are based on estimated tangible net worth.

      Alternative Ratings Used
    INV Indicates that D&B is currently conducting an investigation to gather the most current details.
    DS Indicates that only brief partial information is currently available on the company, and a full investigation will be conducted once an enquiry is placed.
    -- The blank symbol should not be interpreted as indicating that credit should be denied. It simply means that the information available to Dun & Bradstreet does not permit us to classify the company within our rating key and that further enquiry should be made before reaching a decision. Some reasons for using a "--" symbol include: deficit tangible net worth, bankruptcy proceedings, lack of a current financial statement, insufficient payment information, or incomplete history information.
    NQ (Out of Business) All companies that have ceased operations or have been voluntarily or involuntarily liquidated.
    BR Branch or division location.
    ER These ratings are assigned based on the Total employee size of the subject companies. They are given to banks, insurance companies, investment trusts, security brokers or companies which do not seek normal commercial credit, and hence the normal credit rating principals are not applied

    Note:ERN (Not Available) should not be interpreted negatively. It simply means we do not have information indicating how many people are employed at this firm.

    Employee Range Designation
    ER1 1,000 or more employees
    ER2 500 to 999 employees
    ER3 100 to 499 employees
    ER4 50 to 99 employees
    ER5 20 to 49 employees
    ER6 10 to 19 employees

    Glossary
    Summarise
    Explanations

    Administration for Industry & Commerce is a government entity subordinating to the State Council. It is in charge of the market supervision, management and other related administrative law enforcement affairs. Its major responsibilities include but not limit to organizing and managing the business registration, checking and ratifying registered company names, examining, approving and issuing relevant licenses for enterprises of all types (including foreign invested enterprises) and other business units, individuals and foreign (regional) enterprises representative organizations.

    Customer Service
    Summarise

    Customer Service Contact Information
    Web www.huaxiadnb.com
    Email enquiry@huaxiadnb.com
    Telephone 400-820-3536 (Shanghai)
    800-810-5260 (Beijing)
    800-830-9032 (Guangzhou)
    		 
    Our ref: 200904179309300072

    Your ref: Online Trust CS Dept.
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    Remarks

    Whilst Huaxia D&B China attempts to ensure that the information provided is accurate and complete by reason of the immense quantity of detailed matter dealt within compiling the information and the fact that some of the data are supplied from sources not controlled by Huaxia D&B China which cannot always be verified, including information provided direct from the subject of enquiry as well as the possibility of negligence and mistake, HDBC does not guarantee the correctness or the effective delivery of the information and will not be held responsible for any errors or omissions therein.


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