MIRA INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
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Registered Office : |
1-1307, Baiyun Mansion, No. 176 Tiancheng Road,
Jianggan District Hangzhou, Zhejiang Province 310017 Pr |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.12.2007 |
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Com. Reg. No.: |
330100000023711 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
exporting pharmaceutical and chemical
products |
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No. of Employees
: |
05 |
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 9,000 |
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Status : |
Moderate |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
HANGZHOU BRITIDE TRADING CO., LTD.
(Trade name: NEXFAR
LIMITED)
1-1307, BAIYUN
MANSION, NO. 176 TIANCHENG ROAD, JIANGGAN DISTRICT HANGZHOU, ZHEJIANG PROVINCE
310017 PR CHINA
TEL: 86 (0)
571-86946005
FAX: 86 (0)
571-56535141
EXECUTIVE SUMMARY
Date of Registration : DECEMBER 10, 2007
REGISTRATION NO. : 330100000023711
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
CNY
1,010,000
staff : 5
BUSINESS CATEGORY :
TRADING
Revenue : CNY 8,856,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 1,254,000 (AS OF DEC. 31, 2011)
WEBSITE : www.britide.com
E-MAIL :
Wangauh@Gmail.Com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
9,000
MARKET CONDITION : average
FINANCIAL CONDITION :
FAIRly stable
OPERATIONAL TREND :
ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = USD 1
Adopted abbreviations
(As Follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
***Note: SC’s name should be the above stated one,
NEXFAR LIMITED (the given name) is SC’s related company registered in Hong
Kong, and however, SC always uses this name as its trade name.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 330100000023711 on December 10, 2007.
SC’s Organization Code Certificate No.:
66803794-6
SC’s Tax No.: 330100668037946
SC’s registered capital: CNY
1,010,000
SC’s paid-in capital: CNY
1,010,000
Registration Change Record:
No significant changes of SC have been
noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Hu Jing |
60 |
|
Huang Qiong |
40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Huang Qiong |
|
Supervisor |
Hu Jing |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Hu Jing 60
Huang Qiong 40
MANAGEMENT
Huang
Qiong, Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 34
Ø
ID# 330219197811304374
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman
and general manager
Hu
Jing, Supervisor
-----------------------------------
Ø
Gender: F
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes importing and exporting
commodities (excluding items limited or forbidden by State, with permit if
needed).
SC is
mainly engaged in exporting pharmaceutical and chemical products.
SC’s products
mainly include:
Anastrozole
Bicalutamide
Carboplatin
Daunorrubicin
Hydrochloride
Adapalene
Buflomedil
Hydrochloride
Cefepime
Hydrochloride
Omeprazole Sodium
for Injection
Pantoprazole
Sodium for Injection
Filgrastim
(rhG-CSF) Injection
Octreotide Acetate
Injection
Etc.
SC
sources its materials 100% from domestic market, mainly Zhejiang province. SC
sells 20% in domestic market, and 80% to overseas market, mainly USA, Europe,
etc.
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.
*Major Customer:
==============
Boutique
Marie Claire Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 5 staff at present.
SC rents an area as
its operating office of approx. 40 sq. meters at the heading address.
RELATED COMPANY
Nexfar
Limited (Hong Kong)
-------------------------------------
Date of Registration: January 28, 2005
Registration No.: 0948693
Legal Form: Private
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Bank
of China Hangzhou Qiantang Sub-branch
AC#: 800136326108091001
China Merchants
Bank Hangzhou Shenlan Sub-branch
AC#: 571905638310301
Shenzhen
Development Bank Hangzhou Branch
AC#: 11010554791101
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
558 |
616 |
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Accounts
receivable |
268 |
145 |
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Advances to
suppliers |
-142 |
345 |
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Other receivable |
0 |
0 |
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Subsidy
receivable |
296 |
102 |
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Inventory |
0 |
0 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
980 |
1,208 |
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Fixed assets |
35 |
7 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
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Deferred assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
1,015 |
1,215 |
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============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Wages payable |
0 |
0 |
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Taxes payable |
-190 |
-39 |
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Advances from
clients |
0 |
0 |
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Other payable |
0 |
0 |
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Accrued expenses |
0 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
-190 |
-39 |
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Non-current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
-190 |
-39 |
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Equities |
1,205 |
1,254 |
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------------------ |
------------------ |
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Total
liabilities & equities |
1,015 |
1,215 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2011 |
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Revenue |
8,856 |
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Cost of sales |
8,377 |
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Taxes and surcharges |
0 |
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Sales expense |
0 |
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Management expense |
398 |
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Finance expense |
10 |
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Profit before
tax |
63 |
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Less: profit tax |
13 |
|
50 |
Important Ratios
=============
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
-5.16 |
-30.97 |
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*Quick ratio |
-5.16 |
-30.97 |
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*Liabilities
to assets |
-0.19 |
-0.03 |
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*Net profit margin
(%) |
-- |
0.56 |
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*Return on
total assets (%) |
-- |
4.12 |
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*Inventory /
Revenue ×365 |
-- |
-- |
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*Accounts
receivable/ Revenue ×365 |
-- |
6 days |
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*
Revenue/Total assets |
-- |
7.29 |
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* Cost of
sales / Revenue |
-- |
0.95 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in 2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is fairly good in 2011.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
SC has no inventory in both years.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in both years.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 9,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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.