MIRA INFORM
REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SHANGHAI RENYOUNG PHARMACEUTICAL CO., LTD. |
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Registered Office : |
Room 407, No. 10 Building, Hi-Shanghai Centre, No. 990, Dalian Road, Shanghai 200092 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.09.2004 |
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Com. Reg. No.: |
3102292072815 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Selling
Pharmaceutical Chemical Raw Materials and Products |
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 1,000 |
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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 |
Company name & address
SHANGHAI
RENYOUNG PHARMACEUTICAL CO., LTD.
ROOM 407, NO. 10
BUILDING, HI-SHANGHAI CENTRE, NO. 990,
DALIAN ROAD,
SHANGHAI 200092 PR CHINA
TEL: 86 (0) 21-65794930/51816006 FAX: 86 (0) 21- 35010877
EXECUTIVE SUMMARY
INCORPORATION DATE : SEP. 28, 2004
REGISTRATION NO. : 3102292072815
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH :
2
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
N/A (UNaudited, AS OF DEC. 31,
2010)
EQUITIES :
CNY 680,000 (UNaudited, AS OF
DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 1,000 (PERIODICAL REVIEW)
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.48= 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
Note: The given name “Easybuyer Limited” is SC’s trading name.
SC was registered as a Limited liabilities co. at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Sep. 28, 2004.
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 technical advisory and technical service in
the professional medical field; business information advisory; market planning;
selling chemical raw materials and products (excluding hazardous goods). (with
permit if needed)
SC is mainly
engaged in selling pharmaceutical chemical raw materials and products.
Ms. Yang Wei is
legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 2 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 50
square meters.
http://www.renyoung.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: info@renyoung.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN
SHAREHOLDERS:
Name
% of Shareholding
Yang Wei 50
Huang Yun 50
l
Legal representative, Chairman and General manager:
Ms. Yang Wei with university education.
She is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager.
l
Supervisor:
Huang Yun
SC is mainly
engaged in selling pharmaceutical chemical raw materials and products.
SC’s products mainly include active pharmaceutical ingredients,
pharmaceutical intermediate, plant extracts, etc.
SC sources its
materials 100% from domestic market. SC sells 50% in domestic market and 50% to
overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note:
SC declined to release its major suppliers and clients.
SC is not known to have the 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 records 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.
Industrial and
Commercial Bank of China
AC#: N/A
Shenzhen
Development Bank
AC#:
OSA11010452914101
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Cash & bank |
30 |
30 |
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Inventory |
0 |
0 |
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Accounts
receivable |
0 |
170 |
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Advances to
suppliers |
0 |
0 |
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Other
receivables |
480 |
480 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
510 |
680 |
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Fixed assets net
value |
0 |
0 |
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Projects under
construction |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
510 |
680 |
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=========== |
=========== |
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Short loan |
0 |
0 |
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Accounts payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Taxes payable |
0 |
0 |
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Other Accounts
payable |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
0 |
0 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
0 |
0 |
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Equities |
510 |
680 |
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------------------ |
------------------ |
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Total
liabilities & equities |
510 |
680 |
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=========== |
=========== |
Income Statement
Unit: CNY’000
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As
of Dec. 31, 2010 |
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Turnover |
/ |
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Cost of goods sold |
/ |
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Profit before tax |
170 |
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Less: profit tax |
0 |
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Profits |
170 |
Note: SC’s management refused to release the detail of its Income statement;
and the Financial Report for Year 2010 hasn’t been audited.
Important
Ratios
=============
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As
of Dec. 31, 2010 |
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*Current ratio |
/ |
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*Quick ratio |
/ |
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*Liabilities
to assets |
/ |
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*Net profit
margin (%) |
/ |
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*Return on
total assets (%) |
25.00 |
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*Inventory
/Turnover ×365 |
/ |
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*Accounts
receivable/Turnover ×365 |
/ |
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*Turnover/Total
assets |
/ |
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* Cost of
goods sold/Turnover |
/ |
l
SC’s return on total assets is good.
LIQUIDITY: AVERAGE
l
SC has no inventory in both years.
l
The accounts receivable of SC appears average in
2010.
l
SC has no short-term loan in both years.
LEVERAGE: AVERAGE
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 1,000 would appear to be within SC’s
capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.61 |
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UK Pound |
1 |
Rs.73.28 |
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Euro |
1 |
Rs.65.47 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.