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

Guangdong Laya Chemical Co., Ltd.

Prepared for   :   Online Trust
Subscriber Key   :   927999999
Delivery Date   :   Oct 21,2009
Printed on   :   Oct 21,2009

Inquiry Date   :   Oct 14,2009
Inquiry Subject   :   广州艺涂化工有限公司
Inquiry Address   :   佛山顺德顺峰工业区 佛山
Inquiry Phone/Fax   :   (P)0757-22325925 (F)0757-22325993
Inquiry Reference   :   Online Trust CS Dept.

Copyright © 2009 Shanghai Huaxia Dun & Bradstreet Business Information Consulting Co., Limited

 

Guangdong Laya Chemical Co., Ltd.

Report compiled Oct 21,2009
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IDENTIFICATION & SUMMARY

Summarise  
 
   
 

Identification

Company Name Guangdong Laya Chemical Co., Ltd.
Chinese Name 广州市艺涂化工有限公司
DUNS® Number 52-975-4368
Address Shunfengshan Industrial Zone, Daliang Town, Shunde Dist.
Foshan
Guangdong
Postal Code 528305
Address (Chinese) 顺德区大良镇顺峰山工业区
佛山市
广东省
Telephone 0757 22325925
0757 22293888
Facsimile 0757 22325993
Website www.laya.com.cn
Type of Business A limited company
Year Started 1999
History Clear
Imports Yes
Exports Yes
Employees 800 (Total)
Principal Weiming LIANG / Chairman
US SIC Code 2844 0103
Primary Business Home permanent kits
 
 

Risk Summary

   
 
RISK EVALUATION
   
  EMMA Score 5  
  D&B Rating 3A3(PRV. --)  
 
LEGAL EVENTS
   
  Litigation Records 0  
 
PRINCIPAL INFORMATION
   
  Principal(s) 1  
 
PAYMENT INFORMATION
   
  Trade References 9  
 
COMPANY KEY EVENTS
   
  History Changes 6  
  Media Records 0  
 
FINANCIAL SUMMARY
   
  Registered Capital RMB 30,000,000  
  Sales/Turnover 285,301,000 (2008)  
  Tangible Net Worth 32,926,000 (2008)  
  Total Assets 158,707,000 (2008)  
  Shareholders Equity 33,438,000 (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


  EMMA Score 5  
  Relative Risk  
 
 Slight Below Average Risk
 
   
  1 10  
 
  D&B Rating 3A3 (Previous --)  
  Financial Strength 3A (Based on Tangible Net Worth 32,926,000 )  
  Composite Appraisal 3 Overall credit condition - Fair

 

Company Overview

Subject is a limited enterprise established in 1999. It is of fair size in the line of business. In 2008, subject achieved revenue of RMB 285,301,000, lower than that in 2007. The net profit was RMB 1,240,000.

Current Investigation


On Oct 21,2009 , Business Assistant Mr. Liang Zhiming,

(Tel:0757-22325925)confirmed historical and operational information,other information was obtained from a third party source and last investigation.

Report name is subject’s official English name.

History Changes

Date   Event
May 19,2003   Name changed
Mar 05,2001   Address changed
May 19,2003   Address changed
Nov 21,2006   Capital changed
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RISK ANALYSIS

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EMMA Score


10 

Company EMMA Score

The Company EMMA Score is 5, indicating Slight Below Average Risk.


EMMA Score Analysis

Subject is rated average scores in some aspects and poor scores in other aspects as follows:

  Good Factor Bad Factor  
  Business Type Quick ratio  
  History Status Net profit Margin  
EMMA Score
5
Industry Norm Grouping
       
  Industry Group SIC 2844  
  Industry Group Description Toilet preparations  
  Industry Group EMMA Score Quartile Values
Lower Quartile 3
Median 5
Upper Quartile 7
 

Company Risk Vs Industry Norm Chart
EMMA Score
Lower Quartile
Median
Upper Quartile
  0 1 2 3 4 5 6 7 8 9 10
EMMA Score
Guangdong Laya Chemical Co., Ltd. Industry
Distribution of EMMA Score in Huaxia D&B China's Database
40%
35%
30%
25%
20%
15%
10%
5%
0%
  1 2 3 4 5 6 7 8 9 10
 
Score Distribution
1 15%
2 7%
3 11%
4 17%
5 16%
6 7%
7 9%
8 6%
9 6%
10 6%

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

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TRADE PAYMENTS

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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 0 0 0% 0% 0% 0% 0%
200,000 - 1,999,999 0 0 0% 0% 0% 0% 0%
100,000 - 199,999 1 100,000 0% 100% 0% 0% 0%
20,000 - 99,999 1 80,000 100% 0% 0% 0% 0%
10,000 - 19,999 6 90,000 100% 0% 0% 0% 0%
<10,000 0 0 0% 0% 0% 0% 0%
TOTAL 8 270,000 88% 12% 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
Jul 31,2009 Slow 30+ 100,000 100,000 80,000 Net 30 --
Jun 30,2009 Prompt 80,000 80,000 0 Net 30 --
May 31,2009 Prompt 15,000 0 0 Advance --
Apr 30,2009 Prompt 15,000 0 0 Advance --
Mar 31,2009 Prompt 15,000 2,500 0 Net 30 --
Feb 28,2009 Prompt 15,000 0 0 Advance --
Jan 31,2009 Prompt 15,000 0 0 Advance --
Dec 31,2008 Prompt/Slow 30+ 30,000 5,000 Net --
Nov 30,2008 Prompt 15,000 2,500 0 Net 30 --
 

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

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Registration


Registration Date Jul 20,1999
Registered At Foshan Shunde Dist. Administration for Industry & Commerce
Registration No. 440681000080927
National Organization Code 708166292
Registered Capital RMB 30,000,000
Tax No. 440681708166292
Business Started 1999
Type of Business a limited company
Registered Address Shunfengshan Industrial Zone, Daliang Town, Shunde Dist., Foshan
Legal Representative Liang Weiming
Business Scope Producing hair and skin care cosmetics (aerosols); processing electric mosquito tablets, electric mosquito liquid; wholesaling aerosols, organic solvent units (aerosols), air refresheners, lubricants, polishing wax, release agents, insecticide aerosols (having warehouses); producing hazardous chemical packaging products and containers; aerosol cans (class I packaging); printing packaging & decorative printed matters and other printed matters (subject to the operation period of the license); importing and exporting (on agent basis) various commodities and technologies, excluding those restricted or prohibited by the state, with valid license if required.

Shareholder(s)

Shareholding Structure

Name Region/ Country Shares Investment Mode Paid-Up Rate
Liang Weiming
梁伟明
China 55% Cash fully paid
Luo Jiansong
罗健松
China 20% Cash fully paid
Liang Zhiming
梁志明
China 25% Cash fully paid
Total   100%    

Comment:

  • Subject passed the annual inspection of 2008 with Administration for Industry & Commerce.
  • History Changes

    Name Changed

    From: Shunde Laya Chemical Co., Ltd.
    To: captioned name On(in) May 19,2003

    Address Changed

    From: (registered address) Shunfengshan Industrial Zone, Desheng Dist., Shunde
    To: (registered address) Shunfengshan Industrial Zone, Daliang Dist., Shunde On(in) Mar 05,2001
    To: captioned address On(in) May 19,2003

    Capital Changed

    From: RMB 20,000,000
    To: RMB 30,000,000 On(in) Nov 21,2006

    Registration Number Changed

    From: 23196545-9
    To: 4406812004951 On(in) Jan 19,2000
    To: 440681000080927 On(in) Jun 05,2008


    History Summary

    Subject was established on July 20, 1999. Now, the registered capital is RMB 30 million, and the shareholders are Liang Weiming (55%), Luo Jiansong (20%), and Liang Zhiming (25%).

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    PRINCIPALS

    Summarise
     
       

    Principal(s)

    Weiming LIANG - Chairman/Legal Representative
    梁 伟明

    Gender Male
    Year of Birth 1967
    Nationality China
    ID Number 440623670211171
    Started with Subject 1999
    Activity Status Yes
    Area of Responsibility Overall management
    Related Working Experience Since 1989

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    OPERATIONS

    Summarise  
       

    Line of Business

    Subject is mainly engaged in production and sales of general liquefaction unit (hair clean class), aerosols and organic solvents unit (aerosol), air fresheners, lubricants, polishing wax, release agents, insecticide aerosol sprays,

    electric mosquito tablets, mosquito liquid and so on.
    Subject provides OEM services.

    2844 0103 Home permanent kits

    2879 0107 Pesticides, agricultural or household

    2899 9900 Chemical preparations, nec

    Brands

    Brands Owned Boost
    Qi Li
    Kingbo
    Gui Li Yuan
    Dong Cai

    Agencies Held

    Subject is entitled to independent import and export rights.

    Awards & Certifications

    Awards & Certifications Name ISO9001:2000

    Products & Services

    Product Name Maximum Productivity  
    Aerosol 200,000,000 cans per year

    Purchasing

    Purchase Territory

    Area Percent Region/Country
    Domestic 90% Pearl River Delta
    Overseas 10% Europe
    South East Asia  

    Major Suppliers

    Area Name DUNS  
    Domestic Hainan Haiwoo Tinplate Industry Co.,Ltd. 65-468-4547  
    Domestic Majesty Dispensing Systems Co., Ltd. 54-486-8656  
    Domestic Guangzhou Lianwang Paper Products Co., Ltd. 54-531-3400  
    Domestic ICI Swire Paints (China) Ltd. 65-451-3654  

    Selling

    Sales Territory

    Area Percent Region/Country
    Domestic 60% -
    Overseas 40% Europe
    Japan  

    Selling Terms

    Terms   Percent
    Advance - -

    Selling Settlement Method

    Settlement Method Percent
    T/T  
    L/C  

    Major Customers

    Area Name DUNS
    Domestic Shenzhen Yuansheng Co., Ltd.  
    Domestic Wanmei China Daily Necessary Co., Ltd.  

    Employees

    Employee Size

    Type Number
    Total 800

    Major Functional Departments

    Department(s)
    Administration Dept. Business Dept.
    Finance Dept. Purchasing Dept.
    Production Dept. others

    Operations Summary

    Subject is mainly engaged in manufacturing and selling liquefaction unit (hair clean class), aerosols and organic solvents unit (aerosol), air fresheners, lubricants, polishing wax, release agents, insecticide aerosol sprays, electric mosquito tablets, mosquito Liquid. The brands are including Boost, Qi Li, Kingbo, Gui Li Yuan, Dong Cai. The annual output capacity of aerosol is 0.2 billion per year.
    Subject is capable of providing OEM service. It was awarded ISO9001:2000 certificate. It is entitled with independent import and export right.
    Most of the raw materials are purchased in local area, mainly in Zhujiang Delta Area, and few of them are imported from overseas, such as Europe, Southeast Asia. Most of the products are sold in local area, and parts of them are exported to overseas, such as Europe, USA. At present, subject has about 800 employees.

    Location

    Principal Place of Business

    Location Description An industrial area
    Occupation Type Occupies

    Other Place of Business

    Type REGISTERED ADDRESS
    Address Shunfengshan Industrial Zone, Daliang Town, Shunde Dist., Foshan
       

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    FINANCE & BANKING

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    Finance


    The 2008 financial statements were obtained from outside sources.

    Financial Highlights

         
     
     
     
    Dec 31,2008
    RMB '000
    Change
    %
    Dec 31,2007
    RMB '000
     
      Current Assets     110,858 -16.20% 132,287  
      Current Liabilities     125,269 -13.55% 144,908  
      Working Capital     (14,411) -14.18% (12,621)  
      Tangible Net Worth     32,926 1.64% 32,395  
      Fixed Assets     41,355 -1.09% 41,809  
      Total Assets     158,707 -10.49% 177,303  
      Total Liabilities     125,269 -13.55% 144,908  
      Shareholders Equity     33,438 3.22% 32,395  
      Sales     285,301 -19.60% 354,864  
      Net Profit     1,240 -90.88% 13,600  

    Balance Sheet

         
     
    Dec 31,2008
    RMB '000
    Fiscal
    (Independent)
    Dec 31,2007
    RMB '000
    Fiscal
    (Independent)
     
      Cash and Bank   27,440 -  
      Accounts Receivables   22,084 27,273  
      Notes Receivables   295 -  
      Other Receivables   760 -  
      Prepaid Expense   595 -  
      Inventory   55,934 70,525  
      Short Term Investments   3,750 -  
      Other Current Assets   - 34,489  
      Total Current Assets   110,858 132,287  
      Fixed Assets, at cost   79,910 -  
      Less Acc. Depreciation   (38,560) -  
      Other Fixed Assets   - 41,809  
      Guarantee Deposit Paid   5 -  
      Total Fixed Assets   41,355 41,809  
      Intangibles   512 -  
      Total Intangible Assets   512 -  
      Shares(Unlisted)   2,000 -  
      Deferred Assets   305 -  
      Other Assets   - 3,207  
      Total Investment & Other Assets   5,982 3,207  
      TOTAL ASSETS   158,707 177,303  
      Short-Term Loans   63,378 -  
      Accounts Payable   25,784 54,378  
      Notes Payable   23,833 -  
      Other Payables   12,892 -  
      Tax Payable   (662) -  
      Other Creditors/Accruals   44 -  
      Other Current Liabilities   - 90,530  
      Total Current Liabilities   125,269 144,908  
      Total Non-Current Liabilities   - -  
      Total Liabilities   125,269 144,908  
      Capital   30,000 30,000  
      Capital Reserve   264 -  
      Retained Earnings   3,174 -  
      Others   - 2,395  
      Total Equity   33,438 32,395  
      TOTAL LIABILITIES & EQUITY   158,707 177,303  

    Profit & Loss Statement

         
     
    Dec 31,2008
    RMB '000
    Fiscal
    (Independent)
    Dec 31,2007
    RMB '000
    Fiscal
    (Independent)
     
      Sales   285,301 354,864  
      -Cost of Goods Sold   244,390 298,510  
      -Sales Tax   1,057 1,473  
      Gross Profit/Loss   39,854 54,881  
      +Other Operating Income   56 89  
      -Operating Expenses   15,004 15,374  
      -Administrative Expenses   17,615 16,810  
      -Financial Expenses   5,656 4,309  
      Operating Profit/Loss   1,635 18,477  
      +Non-Operating Income   83 62  
      -Non-Operating Expense   65 1,381  
      Profit/Loss Before Tax   1,653 17,158  
      -Income Tax   413 3,558  
      Profit/Loss After Tax   1,240 13,600  
      Net Profit(Loss)   1,240 13,600  

    Key Financial Ratios

      Ratio
      2008 2007  
      Current Ratio   0.88 0.91  
      Quick Ratio   0.43 0.42  
      Total Debt/Equity Ratio   3.74 4.47  
      Debt Ratio   0.78 0.81  
      Collection Period (Days)   27 27  
      Payment Period (Days)   35 65  
      Inventory Turnover (Days)   82 85  
      Asset Turnover   1.79 2.00  
      Gross Profit Margin %   13.96 15.46  
      Net Profit Margin %   0.43 3.83  
      Return on Equity %   3.70 41.98  
      Return on Assets %   0.78 7.67  
    Financial Comments
     
    • There are big variances between financial figures of the tow years because of different data sources.
     

    Industry Financial Norms

      Ratio
    2007 2006 2005  
      No. of enterprises covered 87 110 81  
      Current Ratio
    Total Current Assets/Total Current Liabilities
    1.58 1.32 1.99  
      Quick Ratio
    (Total Current Assets - Total Inventory)/Total Current Liabilities
    1.13 1.18 1.59  
      Debt/Equity Ratio
    Total Liabilities/Total Equity
    0.65 0.72 1.64  
      Debt Ratio
    Total Liabilities/Total Assets
    0.40 0.69 0.79  
      Collection Period (Days)
    Accounts Receivable/Sales x 360
    94.89 38.99 43.62  
      Payment Period (Days)
    Accounts Payable/Cost of Sales x 360
    61.32 144.06 78.57  
      Inventory Turnover (Days)
    Total Inventory/Cost of Sales x 360
    67.12 65.41 190.95  
      Asset Turnover
    Net Sales/Total Assets
    1.38 1.22 1.86  
      Net Profit Margin %
    Net Profit(Loss)/Sales x 100%
    12.01 13.08 10.04  
      Return On Equity %
    Net Profit(Loss)/Total Equity x 100%
    41.63 14.23 13.98  
      Return On Assets %
    Net Profit(Loss)/Total Assets x 100%
    3.39 4.71 4.02  

  • 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 Agricultural Bank of China, Foshan Shunde Desheng Sub Branch

    Account Number 44496001040001868

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    INDUSTRY HIGHLIGHTS

    Summarise  
     
       

    Industry Highlights


    Industry Highlights Not Available
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    Public Records

    Summarise
     
       

    Litigation Records

    Up to Oct 21,2009 , 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 EMMA Score

    D&B EMMA Score (Emerging Market Mediation Alert Score) is a risk assessment model developed for emerging market countries. It is a score developed by data profiling approach and statistical molding, which predicts the possibility of a business in perilous status of instability or unreliability, such as poor financials, late payment, stale inventory, abnormal operational status, etc. The EMMA Score 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. The EMMA Score is based on a scale of 1 to 10, where 1 represents a lower risk and 10 a higher risk.

    HDBC EMMA Score Commentary
    Range % of High Risk Business EMMA Score   % of Report in Database   Commentary  
    Low Risk Scores 2.0% 1   10.5%   Much lower Risk  
      2.7% 2   8.6%   Low Risk  
      3.1% 3   10.8%   Moderate low Risk  
    Medium Risk Scores 4.7% 4   16.3%   Below average Risk  
      7.0% 5   15.9%   Slight below average Risk  
      8.1% 6   11.4%   Average Risk  
      10.9% 7   7.1%   Higher than average Risk  
    High Risk Scores 16.5% 8   6.8%   Moderate high Risk  
      24.5% 9   6.5%   High Risk  
      41.9% 10   6.1%   Much Higher Risk  

    EMMA Score for China is initially rolled out in May 2009, derived from an Index Development Sample of close to 4,000,000 company records. When using the Score to make individual applicant decisions, a customized version of this table based on an analysis of the Score against your customer account portfolio is recommended. It does not necessarily mean doing business with a company, which is assigned with higher Risk Score, will result in increased risk.


    The Key Drivers of the EMMA Score include the following:

    Business Information

    • Business Type
    • Line of Business
    • Employee Size
    • Sales Territory
    • Registered Capital
    • Years in Business
    • History Status
    • Property Ownership

    Public Record

    • Number of Negative Record

    Financial Information

    • Quick Ratio
    • Debt Ratio
    • Assets Turnover
    • Collection Period
    • Net Profit Margin
    • Return on Equity

    Geographical Information

    • Region & Province

    Payment Information

    • Payment Period
    • Percentage of Overdue Payment
    EMMA Score Application
    • Low EMMA Score - May proceed to process the applicant quickly with minimal or no manual review depending on the extent of score validation analysis.
    • Medium EMMA Score - Medium Risk Scores - Recommend a manual review of the applicant based on the applicant's capacity, your internal policy and risk tolerance.
    • High EMMA Score - High Risk Scores - Requires thorough manual review of potential decline, or approval depending on the applicant's capacity, your internal policy and risk tolerance.

    The above illustration assumes that no prior history or experience with the new applicant. When using EMMA Score, combination with other information including an internal assessment policies, other HDBC data, and front channel input is suggested.

    D&B Rating

    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

    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


    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: 200910149309300170

    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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