MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GUANGZHOU PERSON PHARMACEUTICALS CO., LTD. |
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Registered Office : |
Room 901B, No.11
Baoshi Road, Economic & Technology Dev. Zone, Guangzhou, Guangdong Province,
510730 Pr |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
February 17, 2006 |
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Com. Reg. No.: |
4401082002597 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in selling medicine intermediates, biological products,
chemical bulk pharmaceuticals |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
GUANGZHOU PERSON PHARMACEUTICALS CO., LTD.
room 901b,
TEL :
86 (0) 20-82089989
FAX :
86 (0) 20-82218121
EXECUTIVE SUMMARY
INCORPORATION DATE : february 17, 2006
REGISTRATION NO. : 4401082002597
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
8
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
trading
TURNOVER :
0 (AS OF DEC. 31, 2006)
EQUITIES :
CNY 800,000 (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION : FAIR
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : AVERAGE
GENERAL REPUTATION : fair
EXCHANGE RATE :
CNY7.57 = US$1 AS OF 2007-8-8
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on February 17, 2006.
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 selling medicine intermediateS, biological products, chemical
bulk pharmaceuticals.
SC is mainly
engaged in selling medicine intermediates, biological products, chemical bulk
pharmaceuticals.
Mr. Tang Xing has
been chairman of SC since 2006.
SC owns about 8
staff at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the economic development zone of Guangzhou. Our checks
reveal that SC rents the total premise about 100 square meters.
SC is not known to host web site of its own at present.
SC started its normal operation in July of 2007.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Tang Xing 30
Pu Hanlin 35
Bian Qunzhou 35
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Chairman and
General Manager:
Mr. Tang Xing, about 35 years old with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2006 to present Working
in SC as chairman and general manager.
SC is mainly
engaged in selling medicine intermediates, biological products, chemical bulk
pharmaceuticals.
SC started its
normal operation in July of 2007.
SC’s products
mainly include: medicine intermediate, biological products, chemical bulk
pharmaceuticals.
SC sources its materials 100% from domestic
market, mainly
The buying terms of SC include Check, T/T and Credit of 30 days. The
payment terms of SC include T/T, L/C and Credit of 30 days.
SC is not
known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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.
Guangzhou City Commercial Bank
AC#：800166263202013
Relationship:
Balance Sheet (as of Dec. 31, 2006)
Unit: CNY’000
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Cash & bank |
1,230 |
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Inventory |
10 |
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Accounts
receivable |
-90 |
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Other Accounts
receivable |
30 |
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To be
apportioned expense |
0 |
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Other current
assets |
-540 |
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Current assets |
640 |
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Fixed assets net
value |
70 |
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Projects under
construction |
0 |
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Long term
investment |
0 |
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Other assets |
100 |
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Total assets |
810 |
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Short loans |
0 |
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Accounts payable |
0 |
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Other Accounts
payable |
0 |
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Withdraw the
expenses in advance |
0 |
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Other current liabilities |
10 |
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Current
liabilities |
10 |
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Long term
liabilities |
0 |
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Other
liabilities |
0 |
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Total
liabilities |
10 |
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Equities |
800 |
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Total
liabilities & equities |
810 |
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Income Statement (as of Dec. 31, 2006)
Unit: CNY’000
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Turnover |
0 |
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Cost of goods
sold |
0 |
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Sales expense |
0 |
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Management expense |
290 |
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Finance expense |
0 |
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Profit before
tax |
-200 |
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Less: profit tax |
0 |
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Profits |
-200 |
Important Ratios (as of Dec. 31, 2006)
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*Current ratio 64.00
*Quick ratio 63.00
*Liabilities to
assets 0.01
*Net profit
margin (%) /
*Return on total
assets (%) -24.69
Overall financial
conditions of SC: Fair.
SC is considered small-sized in its line with a short operating history.
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)