MIRA
INFORM REPORT
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Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
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Name : |
WEIFANG LU’AN
IMPORT AND EXPORT CO., LTD. |
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Registered Office : |
No. 35 Weixu North Road, Anqiu, Shandong
Province, 262100 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
19.03.2008 |
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Com. Reg. No.: |
370784200000830 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
International Trade |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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China |
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 |
Name and address
WEIFANG LU’AN
IMPORT AND EXPORT CO., LTD.
NO. 35 WEIXU NORTH ROAD, ANQIU, SHANDONG
PROVINCE, 262100 PR CHINA
TEL: 86-(0) 536-4386559/4390070 FAX:
86 (0) 536-4390696/4390238
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 19, 2008
REGISTRATION NO. :
370784200000830
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. WANG JUN (CHAIRMAN)
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 123,534,000 (AS OF DEC. 31, 2008)
EQUITIES :
CNY 1,214,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 8,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.50 = USD 1
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 one-person limited liability company at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on March 19, 2008.
Company Status: One-person
Limited Liability Company
一人有限责任公司 Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited liability
company, the sole-investor nature of the natural person or legal person
shall be indicated in the registration documents of the company and shall
be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered
business scope includes importing and exporting commodities and
technologies, excluding export commodities limited or
prohibited by the state (with permit if needed).
SC is mainly
engaged in international trade.
Mr. Wang Jun has been legal representative and chairman of
SC since 2008.
SC is known to have approx. 15 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Anqiu. Our checks reveal
that SC rents the total premise, but SC’s accountant refused to release the
gross area of the premise.
SC is not known to host website of its own at present.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Anqiu Lu’An
Pharmaceutical Co., Ltd. 100
Anqiu Lu'an
Pharmaceutical Co., Ltd. ( Former: Weifang No.4 Pharmaceutical Factory ) is the
largest Asian bulk pharmaceutical enterprises specializing in producing and
exporting Paracetamol (Acetaminophen) (annual capacity is 24,000 tons),
Paracetamol DC (DC90, DC96, DC85, DC83, DC77 etc)(annual capacity is 5000 tons
) and contract manufacture of Paracetamol Finish Dosage including Paracetamol Codeine
(Tablet, Caplet, Hard Capsule and Soft Capsule) and Health Ingredients and
Healthcare Products (annual capacity 8 billion tabs).
INCORPORATION DATE :
DEC. 7, 1998
REGISTERED LEGAL FORM : limited liabilities
company
STAFF STRENGTH :
600
BUSINESS LINE : manufacturing
Registered
business scope includes manufacturing and selling troche, hard capsule,
granule, white latex, and sodium acetate; importing and exporting commodity
& technology.
E-mail: luan@luanpharm.com
Add: XIAOHEYA, NORTH PART OF CITY, ANQIU CITY, SHANDONG PROVINCE.
Tel:
86 (0) 536-4390060
Fax: 86 (0) 536-4390238
l
Legal representative and chairman:
Mr. Wang Jun, about 48 years old, with university education. He is
currently responsible for the overall management of SC.
Working Experience(s):
From 2008 to present Working
in SC as chairman and legal representative.
At present Also
working in Anqiu Lu’An Pharmaceutical
Co., Ltd. as legal representative.
SC is mainly
engaged in international trade.
Main Products: various
medicines, paper, wood pulp, etc.
SC sources its materials 90% from domestic
market, and 10% from overseas market. SC sells 30% of its products in domestic
market, and 70% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 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.
SC declined to
release its banking details.
Financial
Information
Unit: CNY’000
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as of Dec. 31,
2008 |
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Total
liabilities |
33,750 |
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Shareholders
equities |
1,214 |
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Total Assets |
34,964 |
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Turnover |
123,534 |
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Net profit |
213 |
Note: SC has not lodged
the latest annual returns in the local registry, hence no up-to-date detailed
financial information could be provided.
Important Ratios
=============
|
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as of Dec. 31,
2008 |
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*Liabilities
to assets |
0.97 |
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*Net profit
margin (%) |
0.17 |
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*Return on
total assets (%) |
0.61 |
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*Turnover/Total
assets |
3.53 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
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 high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial
conditions. 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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
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-- |
NB |
New Business |
-- |
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.