MIRA INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
GMP CHINA LTD |
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Registered Office : |
No. 8, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
11.11.2003 |
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Com. Reg. No.: |
310225000363316 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Medical
Equipment |
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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Maximum Credit Limit : |
USD 8,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
GMP CHINA LTD.
NO. 8,
NANHUI DISTRICT,
TEL: 86 (0)
21-68106105/58104575 FAX: 86 (0)
21-58104572
EXECUTIVE SUMMARY
INCORPORATION DATE : nov.
11, 2003
REGISTRATION NO. : 310225000363316
REGISTERED LEGAL FORM : limited liabilities
company
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE : trading
TURNOVER :
cny 29,010,000 (AS OF DEC. 31, 2009)
EQUITIES :
CNY 1,690,000 (AS OF DEC. 31, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION : fairly
stable
OPERATIONAL TREND : fairly steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.59= USd 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: The given name “GMP Group Ltd.” belongs to a
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 Nov. 11, 2003.
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 importing and exporting commodities & technology;
selling hardware, electric appliances, machinery, instruments & apparatus, building
materials, chemical products (excluding hazardous chemicals), and packaging
materials; mechanical and electrical products professional technology Siji
services; engineering design, contract, project management and supervision;
engineering and technology development and transfer; machinery and equipment
installation and commissioning. (with permit if needed)
SC is mainly
engaged in selling medical equipment.
Mr. Ma Yajun has
been legal representative, chairman and general manager of SC since 2003.
SC is known to
have approx. 20 employees 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 100 square meters.
http://www.gmpchina.net
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-Mail: gmp@gmpchina.net
Changes of its
registration information:
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Date of change |
Item |
Before the change |
After the change |
|
2008 |
Registration number |
3102252021144 |
310225000363316 |
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Shareholders |
Ma Yajun 60% Shen Ying 40% |
Ma Yajun 51% Wan Ting 49% |
MAIN
SHAREHOLDERS:
Name % of Shareholding
Ma Yajun
51
Wan Ting
49
l
Legal Representative, Chairman and General
Manager:
Mr. Ma Yajun, in his
Working Experience(s):
From 2003 to present Working in SC as legal representative, chairman and general manager
SC is mainly
engaged in selling medical equipment.
SC’s products
mainly include: dryer, tablet press machine, sieving machine, coating machine,
centrifugal machine, packing machine, etc.
SC sources its materials
100% from domestic market, mainly
The buying terms
of SC include T/T, Check, and Credit of 30-60 days. The payment terms of SC
include T/T, L/C and Credit of 30-60 days.
*Major Supplier:
============
Beijing Hanlin Hangyu Technology Development Co., Ltd.
*Major Client:
===========
IEMINGTON Pharmaceutical Ltd. (
SC’s offices from its website:
Tel: +86 10 64741675
Fax: 86 10 64743729
No.404 of Buiding, 129 Yingling
lnternational, Chaoyang District,
Tel: +86 25 86893789
Fax: +880-2-8313687 9330909
345. Segun Bagicha, G.P.O Box No.6
Dhaka-1000,
Tel: +65 21 6282 1110
Fax: +65 6481 3731
Email: tommyyang@gmpchina.net
tommygmp@yahoo.com.cn
Tel: +852 23192933
Fax: +852 23195168
Flat/Rm B 8/F
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’s suppliers
declined to make any comments.
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.
Industrial and
Commercial Bank of
AC#:
1001725709300013755
Relation:
Balance Sheet
Unit: CNY’000
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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Cash & bank |
1,370 |
760 |
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Inventory |
1,730 |
80 |
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Accounts
receivable |
17,660 |
9,410 |
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Other Accounts
receivable |
670 |
90 |
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Advances to
suppliers |
790 |
3,460 |
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Other current assets |
450 |
140 |
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------------------ |
------------------ |
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Current assets |
22,670 |
13,940 |
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Fixed assets net
value |
870 |
580 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
80 |
10 |
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------------------ |
------------------ |
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Total assets |
23,620 |
14,530 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
7,860 |
7,160 |
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Advance from
clients |
13,460 |
3,420 |
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Other Accounts
payable |
3,290 |
2,180 |
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Other current
liabilities |
340 |
80 |
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------------------ |
------------------ |
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Current
liabilities |
24,950 |
12,840 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
24,950 |
12,840 |
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Equities |
-1,330 |
1,690 |
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------------------ |
------------------ |
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Total
liabilities & equities |
23,620 |
14,530 |
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============= |
============= |
Income Statement
Unit: CNY’000
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|
As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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Turnover |
55,080 |
29,010 |
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Cost of goods
sold |
49,870 |
24,270 |
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Sales expense |
7,520 |
4,210 |
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Management expense |
1,210 |
1,120 |
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Finance expense |
110 |
70 |
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Other income |
620 |
960 |
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Profit before
tax |
-3,010 |
300 |
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Less: profit tax |
0 |
10 |
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Profits |
-3,010 |
290 |
Important Ratios
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As of Dec. 31, 2008 |
As of Dec. 31, 2009 |
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*Current ratio |
0.91 |
1.09 |
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*Quick ratio |
0.84 |
1.08 |
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*Liabilities
to assets |
1.06 |
0.88 |
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*Net profit
margin (%) |
-5.46 |
1.00 |
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*Return on
total assets (%) |
-12.74 |
2.00 |
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*Inventory
/Turnover ×365 |
11days |
1 day |
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*Accounts
receivable/Turnover ×365 |
117days |
118 days |
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*Turnover/Total
assets |
2.33 |
2.00 |
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* Cost of goods
sold/Turnover |
0.91 |
0.84 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, but
it decreased greatly in 2009.
l
SC’s net profit margin is fair in 2008 and average
in 2009.
l
SC’s return on total assets is poor in 2008 and
average in 2009.
l
SC’s cost of goods sold is fairly high in 2008 and
average in 2009, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fair
level in 2008 and in a normal level in 2009.
l
SC’s quick ratio is maintained in a normal level in
both 2 years.
l
The inventory of SC appears average in 2008 and
small in 2009.
l
The accounts receivable appears large in both 2
years
l
SC has no short-term loans in both 2 years.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is too high in 2008 and high
in 2009.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly stable
SC is considered small-sized in its line with fairly stable financial
conditions. The large amount of
accounts receivable could be a threat to SC’s financial condition. A credit line
up to USD 8,000 would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
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|
1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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.