MIRA INFORM REPORT
|
Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI NOVANAT CO., LTD. |
|
|
|
|
Registered Office : |
3/F, Building 12, No. 99, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
28.09.2003 |
|
|
|
|
Com. Reg. No.: |
310105000240880 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
researching, developing and
selling natural plant products |
|
|
|
|
No. of Employees
: |
55 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
Usd 100,000 |
|
Status : |
Moderate |
|
Payment
Behaviour : |
No Complaints |
|
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) |
|
China |
a2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
SHANGHAI NOVANAT CO., LTD.
3/F, BUILDING 12,
no. 99, TIANZHOU road, shanghai 200233 PR CHINA
TEL: 86 (0)
21-54450909 FAX: 86 (0)
21-54450838
EXECUTIVE SUMMARY
INCORPORATION DATE : sep. 28, 2003
REGISTRATION NO. : 310105000240880
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH :
55
REGISTERED CAPITAL : CNY 156,000,000
BUSINESS LINE :
r&d, tradE
TURNOVER : CNY 64,904,000
(AS OF DEC. 31, 2008)
EQUITIES :
CNY 136,383,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 100,000 (periodical review)
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairLY STABLE
OPERATIONAL TREND : fairLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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: SC is also known as Shanghai Novanat Bioresources Co., Ltd.
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, 2003 and later was changed into present ownership.
Company Status: One-person Limited Liability Company 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 researching and developing natural plant products and
biological products; selling plants, biological products, hardware and
electrical appliance, mechanical equipments, electronics, instruments,
automotive parts, building and decorating materials, stationery; industrial
investment (excluding special stipulation); exporting
self-made products; importing mechanical equipments, parts and raw materials
needed by SC (excluding the items prohibited or
limited by the country, with permit if needed).
SC is mainly
engaged in researching, developing and selling natural plant products.
Mr. Zhu Minjun has
been legal representative and chairman of SC since 2008.
SC is known to
have approx. 55 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. The detailed information
of the area is unspecified.
http://www.novanat.com/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
E-mail: sales@novanat.com
Changes of its
registered information:
|
Date
of change |
Item |
Before
the change |
After
the change |
|
|
Legal representative |
Lan Xiande |
Present one |
|
|
Registration no. |
3101051016301 |
Present one |
|
Unknown |
Legal form |
Limited liabilities co. |
Present one |
|
Shareholdings |
Shanghai Jiaoda Onlly Co., Ltd. 89.74% Shanghai Jiaoda Science Park (Shangrao)
Co., Ltd. 10.26% |
Present one |
MAIN SHAREHOLDER:
Name
% of Shareholding
Shanghai Jiaoda Onlly Co., Ltd. 100
Incorporation Date :
Dec. 24, 1997
Registration No. :
310000400186312
Registered Legal Form : Shares Limited Company
Chief Executive :
Mr. Yang Guoping (Chairman)
Registered Capital :
CNY 312,000,000
The said company is listed in Shanghai Stock Exchange with the code of
600530.
Add.: No. 700, Yishan Road,
Shanghai
Tel.: 86-21- 54277900
Fax: 86-21- 54277827
Legal
representative and Chairman:
Mr. Zhu Minjun, born in 1966, with Master’s degree. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2008 to present Working in SC as legal representative and chairman;
Also working in Shanghai Jiaoda Onlly Co., Ltd. as vice chairman;
working in Shanghai Jiaoda Nanyang Real Estate (Group) Co., Ltd. as legal
representative.
SC is mainly
engaged in researching, developing and selling natural plant products.
SC’s products mainly include: food
& beverage ingredients, nutritional ingredients, API, etc.
SC sources its materials 100% from domestic
market. SC sells 50% of its products 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.
Shanghai Jiaoda Nanyang Real Estate (Group) Co., Ltd.
According to SC’s website:
Hunan
Kinglong Bio-resources Products Industry 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 refused to
release any information of its suppliers and the trade reference was not
available.
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.
China Merchants
Bank Shanghai Branch Xujiahui Sub-branch
AC#
096829-2128857977001
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
As
of Dec. 31, 2007 |
As
of Dec. 31, 2008 |
|
Cash & bank |
29,449 |
11,699 |
|
Accounts
receivable |
6,053 |
7,410 |
|
Advances to
suppliers |
16,237 |
11,480 |
|
Other Accounts
receivable |
60,266 |
87,721 |
|
Inventory |
1,782 |
902 |
|
Other current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
113,787 |
119,212 |
|
Fixed assets net
value |
1,039 |
864 |
|
Long term
investment |
107,530 |
24,945 |
|
Other assets |
1,513 |
2,583 |
|
|
------------------ |
------------------ |
|
Total assets |
223,869 |
147,604 |
|
|
============= |
============= |
|
Short loans |
30,000 |
10,000 |
|
Accounts payable |
1,925 |
1,979 |
|
Advances from
clients |
496 |
225 |
|
Payroll payable |
22 |
220 |
|
Tax payable |
962 |
-1,252 |
|
Other Accounts
payable |
3,019 |
49 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
36,424 |
11,221 |
|
Long term
liabilities |
0 |
0 |
|
Other
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
36,424 |
11,221 |
|
|
Equities |
187,445 |
136,383 |
|
|
------------------ |
|
|
Total
liabilities & equities |
223,869 |
147,604 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
Note: SC’s latest financial reports can not be found in local AIC.
Important Ratios
=============
|
|
As of Dec. 31,
2007 |
As of Dec. 31, 2008 |
|
*Current ratio |
3.12 |
10.62 |
|
*Quick ratio |
3.08 |
10.54 |
|
*Liabilities
to assets |
0.16 |
0.08 |
|
*Net profit
margin (%) |
13.19 |
-78.67 |
|
*Return on
total assets (%) |
3.02 |
-34.59 |
|
*Inventory
/Turnover ×365 |
13 days |
5 days |
|
*Accounts
receivable/Turnover ×365 |
43 days |
42 days |
|
*Turnover/Total
assets |
0.23 |
0.44 |
|
*Cost of goods
sold/Turnover |
0.75 |
0.84 |
PROFITABILITY:
POOR
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is fairly good in 2007, but
poor in 2008.
l
SC’s return on total assets is fairly good in 2007,
but poor in 2008.
l
SC’s cost of goods sold is average,
comparing with the size of 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 in 2007 and
2008.
l
The accounts receivable of SC appears average in
2007 and 2008.
l
SC’s short-term loan appears average in 2007 and
2008.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in 2007 and 2008.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. In view of its favorable background and
market conditions, a credit line up to USD 100,000 appears acceptable upon a
periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.66 |
|
UK Pound |
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.67.18 |
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.