MIRA INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU GUOTAI INTERNATIONAL GROUP |
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Registered Office : |
10-11f, Guotai Bldg., |
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Country : |
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Financials (as on) : |
30.11.2009 |
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Date of Incorporation : |
15.04.1998 |
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Com. Reg. No.: |
320582000005025 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Importing and exporting business of pharmaceutical substances |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
100,000 |
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Status : |
Satisfactory |
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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
JIANGSU GUOTAI INTERNATIONAL GROUP WINSUN IMPORT & EXPORT CO., LTD.
10-11F, GUOTAI BLDG.,
10-11
TEL: 86 (0) 512-58671122 FAX: 86 (0) 512-58671126
EXECUTIVE SUMMARY
INCORPORATION
DATE : APR. 15, 1998
REGISTRATION
NO. : 320582000005025
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF
EXECUTIVE : MR. DONG
MING (CHAIRMAN)
STAFF
STRENGTH : 50
REGISTERED CAPITAL : CNY 15,000,000
BUSINESS
LINE : TRADING
TURNOVER : CNY 247,030,000
(JAN. 1 TO NOV. 30, 2009)
EQUITIES : CNY 23,840,000 (AS OF NOV. 30, 2009)
PAYMENT : AVERAGE
RECOMM.
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND :
FAIRLY STEADY
GENERAL
REPUTATION : WELL-KNOWN
EXCHANGE RATE :
CNY 6.797 = USD 1
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 Apr. 15, 1998.
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 and
technologies, excluding export
commodities limited
or prohibited by the state; purchasing and selling textile materials, chemical materials,
foods, building materials, hardware, metal materials, mechanical and electrical
products, instruments and meters, textiles and general merchandise.
SC is mainly engaged in importing and
exporting business.
Mr. Dong Ming is legal
representative and chairman of SC at present.
SC is
known to have approx. 50 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Zhangjiagang. Our checks reveal that
SC owns the total premise about 1,000 square meters.
http://www.gtig-pharm.com The
design is professional and the content is well organized. At present it is in
English version.
E-Mail: sales@gtig-pharm.com
Changes of its
registered information:
|
Date of change |
Item |
Before the
change |
After the
change |
|
2009 |
Registered capital |
CNY
10,000,000 |
CNY
12,000,000 |
|
2010 |
Registered capital |
CNY
12,000,000 |
CNY
15,000,000 |
|
Shareholdings |
Zhangjiagang F.T.Z. Shengtai Investment Co., Ltd. 20% Cai Dong Ming 10.33% Li Weisheng 8.08% Min Weidong 9.5% Qian Weiren4.17% Other 21 individuals 2120.09% |
Present
ones |
MAIN SHAREHOLDERS:
Name % of Shareholding
Jiangsu Guotai International Group Co., Ltd. 20
Zhangjiagang F.T.Z. Shengtai Investment Co., Ltd. (in
Chinese Pinyin) 20
Cai Ping (ID# 320521720104852) 7.2
Dong Ming (ID# 320521500811003) 10.4
Li Weisheng (ID# 320521197308122318) 8.27
Min Weidong (ID# 320521670930541) 7.73
Qian Weiren (ID# 320582197610268572) 4.67
Other 21 individuals
21 21.73
Jiangsu Guotai International Group Co., Ltd.
================================
Jiangsu Guotai International Group is one of the key
enterprise groups in
Add.: Guotai
Tel.: 0512-58696206
Fax: 0512-58696170
Web: Http://www.gtig.com
l
Legal representative and chairman:
Mr. Dong
Ming, ID# 320521500811003, born in 1950, with university education.
He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as chairman and legal representative.
*Officials:
=======
Name Title
Gu Yafang Director
Li Weisheng Director
Cai
Qian Weiren Supervisor
Min Weidong Supervisor
SC is mainly engaged in importing and
exporting business.
SC’s
products mainly include: pharmaceutical
substances, additives, intermediates, pharmaceutical packaging and garments.
SC
sources its merchandises 10% from the overseas market and 90% from domestic
market. SC sells 10% of its merchandises in domestic market, and 90% to overseas
market.
The
buying terms of SC include Check, L/C, 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.
*Major
Supplier
============
Lubricol
Ltd.
*Major Customer
=============
SC is known
to invest in the following company:
Zhangjiagang
Guotai Investment Co., Ltd.
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.
Agriculture Bank of
AC# 525801040006261
Relationship:
Balance Sheet
|
Unit: CNY’000 |
as of Dec. 31, 2008 |
as of Nov. 30, 2009 |
|
Cash & bank |
6,780 |
9,110 |
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Accounts receivable |
8,160 |
11,950 |
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Other receivables |
0 |
0 |
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Inventory |
8,950 |
8,620 |
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Other current assets |
3,520 |
2,140 |
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------------------ |
------------------ |
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Current assets |
27,410 |
31,820 |
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Fixed assets net value |
9,870 |
9,210 |
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Projects under construction |
0 |
0 |
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Long term investment |
6,850 |
6,450 |
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Other assets |
0 |
10 |
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------------------ |
------------------ |
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Total assets |
44,130 |
47,490 |
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============= |
============= |
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Short loans |
10,000 |
2,000 |
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Bills payable |
11,470 |
15,550 |
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Accounts payable |
5,430 |
6,120 |
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Welfare payable |
110 |
0 |
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Tax payable |
60 |
0 |
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Other payable |
0 |
0 |
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Other current liabilities |
480 |
-20 |
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------------------ |
------------------ |
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Current liabilities |
27,550 |
23,650 |
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Long term liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total liabilities |
27,550 |
23,650 |
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Equities |
16,580 |
23,840 |
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------------------ |
------------------ |
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Total liabilities &
equities |
44,130 |
47,490 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
as of Dec. 31, 2008 |
Jan. 1 to Nov. 30, 2009 |
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Turnover |
354,430 |
247,030 |
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Cost of goods sold |
337,900 |
233,060 |
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Sales expense |
7,010 |
6,130 |
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Management expense |
4,270 |
3,780 |
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Finance expense |
880 |
-10 |
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Investment income |
310 |
430 |
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Profit before tax |
5,260 |
5,050 |
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Less: profit tax |
1,320 |
0 |
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Profits |
3,940 |
5,050 |
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 |
as of Nov. 30, 2009 |
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*Current ratio |
0.99 |
1.35 |
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*Quick ratio |
0.67 |
0.98 |
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*Liabilities to assets |
0.62 |
0.50 |
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*Net profit margin (%) |
1.11 |
2.04 |
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*Return on total assets (%) |
8.93 |
10.63 |
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*Inventory /Turnover ×365 |
10 days |
13 days |
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*Accounts receivable/Turnover ×365 |
9 days |
18 days |
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*Turnover/Total assets |
8.03 |
5.20 |
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* Cost of goods sold/Turnover |
0.95 |
0.94 |
PROFITABILITY: FAIRLY GOOD
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 fairly good.
l
SC’s cost of goods sold is fairly high, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears fairly large.
l
SC’s short-term loan is average.
l
SC’s turnover is in a fairly good level, comparing with the size
of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition of
the SC: stable.
SC is
considered medium-sized in its line with stable financial conditions. A credit
line up to USD 100,000 would appear to be within SC’s capacities upon a
periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
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.