MIRA
INFORM REPORT
|
Report Date : |
27th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
shanghai
yuansheng pharmaceutical co., ltd. |
|
|
|
|
Registered Office : |
Room 3001, No.1 Lane 118 Zhucheng Road, Xinzhuang, Shanghai,
201108 Pr China |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
29.08.2002 |
|
|
|
|
Com. Reg. No.: |
3101132018803 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Engaged in selling pharmaceutical intermediate. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
|
|
|
Status : |
Small
Size |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
Company Name & Address
shanghai yuansheng pharmaceutical co.,
ltd.
room 3001, no.1 lane 118 zhucheng road,
xinzhuang, shanghai, 201108 PR CHINA
TEL :
86 (0) 21-34083620
FAX :
86 (0) 21-34083602
EXECUTIVE SUMMARY
INCORPORATION DATE : august 29, 2002
REGISTRATION NO. : 3101132018803
REGISTERED LEGAL FORM :
Limited liabilities company
STAFF STRENGTH : 6
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : trading
TURNOVER :
CNY 5,732,000 (AS OF DEC. 31, 2005)
EQUITIES :
CNY 6,755,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 50,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY GOOD
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY7.77 = US$1 AS OF 2007-01-25
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
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 August 29, 2002.
Company Status: Limited liabilities co. This form of
business in PR China is defined as a legal person. 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 listed as follows: -manufacturing
co. : CNY 500,000.00 -trading
&wholesaling co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy &
service co. : CNY 100,000.00 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 50% of the registered capital
while contribution by intangible assets must not exceed 20% 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 biological products, acridine, chemical
products and raw materials; also dealing with import and export business.
SC is mainly engaged
in selling pharmaceutical intermediate.
Mr. Liu Shilian has been chairman of SC since 2002.
SC owns about 6 staff
at present.
SC is currently operating at the above stated address, and this
address houses its operating office in the commercial zone of Shanghai. Our
checks reveal that SC rents the total premise about 50 square meters.
http://www.yuanshengsh.com
The design is professional and the content is well organized. At present the
web site is only in English version.
No significant events or changes were found during our checks with
the local Administration for Industry & Commerce.
MAIN
SHAREHOLDERS:
Name % of
Shareholding
Liu Shilian 90
Liu Minzhao 10
l
Chairman and General
Manager:
Mr. Liu Shilian, about 35 years old with university education. He
is currently responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working in SC as chairman and general manager.
SC is mainly engaged
in selling pharmaceutical intermediate.
SC’s products mainly
include: 5-Methoxy-2-thiohydroxybenzimidazole,
2-Chloromethyl-3,5-dimethyl-4-methoxy pyridine HCl,
5-Methoxy-2-(4-methoxy-3,5-dimethyl-2-pyridinyl)methyl thio-1H-benzimidazole,
2-mercaptobenzimidiazole, 2-Chloromethyl-3-methyl-4-(2,2,2-thifluoroethoxy)
pyridine HCl, 2,3-Dimethyl-4-Nitropyridine-N-Oxide,
2-[3-Methyl-4-(2,2,2-trifluoroethoxy)-2-pyridinyl ]methyl
thio-1H-benzimidazole, 2-Chloromethyl –3,4-dimethoxypyridine HCl,
1H-2-mercapto-5-(difluoro methoxy) benzimidazole.
SC sources its materials 20%
from domestic market, and 80% from overseas market, mainly Southeast Asian
market. SC sells 70% of its products in domestic market, and 30% to overseas
market, mainly Southeast Asian market.
The buying terms of SC include T/T, L/C and Credit of 30-45 days.
The payment terms of SC include T/T, L/C and Credit of 30-45 days.
SC is not known to have any subsidiary at present.
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.
Guangdong Development Bank Shanghai Branch
AC#：16514805170003157
Relationship:
Normal.
Balance Sheet (as of Dec. 31, 2005)
Unit: CNY’000
|
Cash & bank |
54 |
|
Inventory |
583 |
|
Accounts receivable |
2,559 |
|
Other Accounts
receivable |
2,018 |
|
To be apportioned
expense |
0 |
|
Other current
assets |
2,409 |
|
|
------------------ |
|
Current assets |
7,623 |
|
Fixed assets |
90 |
|
Fixed assets net
value |
68 |
|
Projects under
construction |
0 |
|
Long term
investment |
0 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
7,691 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
0 |
|
Other Accounts payable |
820 |
|
Withdraw the
expenses in advance |
0 |
|
Other current
liabilities |
116 |
|
|
------------------ |
|
Current liabilities |
936 |
|
Long term
liabilities |
0 |
|
Other liabilities |
0 |
|
|
------------------ |
|
Total liabilities |
936 |
|
Equities |
6,755 |
|
|
------------------ |
|
Total liabilities
& equities |
7,691 |
|
|
============= |
Income Statement (as of Dec. 31, 2005)
Unit: CNY’000
|
Turnover |
5,732 |
|
Cost of goods sold |
2,429 |
|
Sales expense |
1,108 |
|
Management expense |
0 |
|
Finance expense |
11 |
|
Profit before tax |
379 |
|
Less: profit tax |
11 |
|
Profits |
368 |
Important Ratios (as of Dec. 31, 2005)
*Current
ratio 8.14
*Quick
ratio 7.52
*Liabilities
to assets 0.12
*Net
profit margin (%) 6.42
*Return
on total assets (%) 4.78
*Inventory
/Turnover ×365 37
days
*Accounts
receivable/Turnover ×365 163
days
*Turnover/Total
assets 0.75
*
Cost of goods sold/Turnover 0.42
PROFITABILITY: AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly good level.
l
SC’s quick ratio is maintained in a fairly good level.
l
The inventory of SC is maintained in an average level.
l
The accounts receivable of SC appears fairly large.
l
SC has no short-term loan in 2005.
l
SC’s turnover is in an acceptable level, comparing with the size
of its total assets.
LEVERAGE: FAIRLY GOOD
l
The debt ratio of SC is fairly low.
l
The risk for SC to go bankrupt is average.
Overall financial condition of
the SC: Fairly good.
SC is considered small-sized in its line with fairly good
financial conditions. A credit line up to USD 50,000
would appear to be within SC’s capacities.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|