MIRA
INFORM REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI KINDLY
ENTERPRISE DEVELOPMENT GROUP CO., LTD. |
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Registered Office : |
No. 18, Lane 668, Huajiang Road, Jiading
District, Shanghai, 201803 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.07.1998 |
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Com. Reg. No.: |
310000000063412 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling biomedical polymer materials and products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2,000,000 |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Name and address
SHANGHAI KINDLY ENTERPRISE DEVELOPMENT GROUP CO., LTD.
no. 18, lane 668,
huajiang road,
jiading district,
shanghai, 201803 PR CHINA
TEL: 86 (0)
21-69119653/59148966 FAX: 86 (0)
21-59118500
EXECUTIVE SUMMARY
INCORPORATION DATE : jULY 1, 1998
REGISTRATION NO. :
310000000063412
REGISTERED LEGAL FORM : SHARES
LIMITED CO.
STAFF STRENGTH :
1,000
REGISTERED CAPITAL : CNY 157,690,000
BUSINESS LINE : MANUFACTURING
TURNOVER :
CNY 484,840,000 (UNaudited, AS OF DEC. 31, 2010)
EQUITIES :
CNY 309,840,000 (UNaudited,
AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 2,000,000 (PERIODICAL REVIEW)
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : 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
Company Status:
Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of the
shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be
domiciled in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within one year
of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC was registered as a Shares limited co. at local Administration for
industry & commerce (AIC - the official body of issuing and renewing
business license).
SC’s registered
business scope includes industrial investment and assets management; domestic
trading; researching, developing, processing and manufacturing electronics,
machinery, metal materials, high & new tech products; manufacturing and
selling biomedical polymer materials and products, sanitary materials and
dressing, plastics and metal tubes, transfusion sets for single use; selling
inner catheter of blood vessels for single and anaesthesia use; import &
export business.
SC is mainly
engaged in manufacturing and selling biomedical polymer materials and products.
Mr. Zhang
Weixin is legal representative and
chairman of SC at present.
SC is known
to have approx. 1,000 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Shanghai. SC’s
management declined to release detailed information of the premise.
http://www.kdlchina.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: webmaster@kdlchina.com
SC has got ISO 9001, ISO13485, CE certificates, etc.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
Unknown |
Legal form |
One-person Limited Liability Company |
Present one |
|
Registered capital |
CNY 125,000,000 |
Present amount |
|
|
Chinese name |
上海康德莱企业发展集团有限公司 |
Present one |
|
|
Shareholding |
Shanghai Kindly Holding Group Co., Ltd. 100% |
Present ones |
Note: SC changed its Chinese name, while its English name remains the
same.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jianyin International Medical Industry Stocking
Investment Co., Ltd. (Literal Translation)
15
Shanghai Zhangjiang Hi-Tech Park Development
Co., Ltd. 6.28
Shanghai Zichen Investment Co., Ltd. (in
Chinese Pinyin) 3.58
Shanghai Xuxin Investment Enterprise (in
Chinese Pinyin) 4.83
Shanghai Hongyi Boxin Stocking Investment
Partnership 9.91
Shanghai Kindly Holding Group Co., Ltd. 53
Other Shareholders 7.4
Shanghai Zhangjiang Hi-Tech Park Development
Co., Ltd.
===========================================
Incorporation Date: Apr., 1996
Registered no.: 310000000043546
Registered capital: CNY 1,548,690,000
Legal representative: Liu Xiaolong
The said company is listed in Shanghai Stock
Exchange with the code of 600895.
Address: No. 1388, Zhangdong Road, Pudong
New Area, Shanghai
Tel: +86 (21) 50803686
Fax: +86 (21) 50800492
E-mail: investors@600895.com
Shanghai Kindly Holding Group Co., Ltd.
===============================
Registered no.: 310115000963286
Legal representative: Zhang Xianmiao
l
Legal representative and chairman:
Mr. Zhang Weixin , with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
SC is mainly engaged
in manufacturing and selling biomedical polymer materials and products.
SC’s products mainly include: disposable transfusion sets, disposable
sterile syringes, disposable feeding tubes, medical dressing adhesive, etc.
SC sources its materials 95% from domestic
market, and 5% from overseas market. SC sells 40% of its products in domestic
market, and 60% 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.
According
to SC’s website:
Zhejiang
Kindly Medical Devices Co., Ltd.
Add:
No. 252, Yongqiang Road, Yongzhou, Longwan, Wenzhou, Zhejiang Province
TEL:
86-577-86862296 86862297
FAX:
86-577-86374972
Tianjin
Kindly Medical Products Co., Ltd.
Add:
Taifeng Road, Eleven Street, Economic and Technology Development Area, Tianjin
Tel:
86-22-86993669 86996642
Fax:
86-22-86993669
Zhuhai
Mediacy Kind Medical Devices Industry Service Co., Ltd.
Tel:
86-756-3324999
Fax:
86-756-3324666
Etc.
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.
Shanghai Rural Commercial Bank Jiangqiao Sub-branch
AC# 327164-02011057088
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
Cash & bank |
10,590 |
37,790 |
|
Inventory |
34,840 |
47,470 |
|
Bills receivable |
0 |
0 |
|
Accounts
receivable |
63,260 |
74,580 |
|
Advances to
suppliers |
7,080 |
-1,050 |
|
Other receivables |
36,950 |
10,590 |
|
Other current
assets |
0 |
1,800 |
|
|
------------------ |
------------------ |
|
Current assets |
152,720 |
171,180 |
|
Fixed assets net
value |
87,480 |
122,680 |
|
Long term
investment |
116,700 |
168,630 |
|
Projects under
construction |
2,160 |
4,350 |
|
Intangible and
other assets |
1,180 |
9,690 |
|
|
------------------ |
------------------ |
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Total assets |
360,240 |
476,530 |
|
|
=========== |
=========== |
|
Short loan |
55,000 |
116,000 |
|
Accounts payable |
64,240 |
13,990 |
|
Advances from
clients |
3,450 |
0 |
|
Taxes payable |
710 |
610 |
|
Other Accounts
payable |
56,060 |
31,270 |
|
Other current
liabilities |
4,720 |
3,240 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
184,180 |
165,110 |
|
Long term
liabilities |
1,670 |
1,580 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
185,850 |
166,690 |
|
Equities |
174,390 |
309,840 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
360,240 |
476,530 |
|
|
=========== |
=========== |
Income Statement
Unit: CNY’000
|
|
As
of Dec. 31, 2010 |
|
Turnover |
484,840 |
|
Cost of goods sold |
397,510 |
|
Sales expense |
15,080 |
|
Management expense |
18,020 |
|
Finance expense |
6,560 |
|
Profit before tax |
64,730 |
|
Less: profit tax |
7,180 |
|
Profits |
57,550 |
Note: The Financial Report for Year 2010 hasn’t been audited.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.83 |
1.04 |
|
*Quick ratio |
0.64 |
0.75 |
|
*Liabilities
to assets |
0.52 |
0.35 |
|
*Net profit
margin (%) |
/ |
11.87 |
|
*Return on
total assets (%) |
/ |
12.08 |
|
*Inventory
/Turnover ×365 |
/ |
36 days |
|
*Accounts receivable/Turnover
×365 |
/ |
56 days |
|
*Turnover/Total
assets |
/ |
1.02 |
|
* Cost of
goods sold/Turnover |
/ |
0.82 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in 2010.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is fairly good in 2010.
l
SC’s cost of goods sold is average, comparing with
its turnover in 2010.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair level
in 2009 and in a normal level in 2010.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears fairly large.
l
The short-term loan of SC appears large.
l
SC’s turnover is in an average level, comparing
with the size of its total assets in 2010.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is average in 2009 and low in
2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered large-sized in its line with fairly stable financial
conditions. The large amount of accounts receivable and short-term loan could
be a threat to SC’s financial condition. A credit line up to USD 2,000,000 appears
to be within SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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 |
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 |
|
-- |
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.