MIRA
INFORM REPORT
|
Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
WEIFANG LU’AN IMPORT AND EXPORT
CO., LTD. |
|
|
|
|
Registered Office : |
No. 35 Weixu North Road, Anqiu, Weifang, Shandong
Province, 262100 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
19.03.2008 |
|
|
|
|
Com. Reg. No.: |
370784200000830 |
|
|
|
|
Legal Form : |
One-Person Limited Liability
Company |
|
|
|
|
Line of Business : |
Engaged in international trade |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 and address
WEIFANG LU’AN IMPORT AND EXPORT CO., LTD.
NO. 35 WEIXU NORTH ROAD, ANQIU, WEIFANG,
SHANDONG PROVINCE, 262100 PR CHINA
TEL: 86(0) 536-4390070/4382798 FAX:
86 (0) 536-4390690
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 19, 2008
REGISTRATION NO. :
370784200000830
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. WANG JUN (CHAIRMAN)
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 236,749,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 7,140,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : 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
SC was registered as a one-person limited liability company at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on March 19, 2008.
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 importing and exporting
commodities and technologies, excluding export commodities limited or prohibited by the state (with
permit if needed).
SC is mainly
engaged in international trade.
Mr. Wang
Jun has been legal representative and chairman of SC since 2008.
SC is known to have approx. 15 employees at
present.
SC is currently operating at the above stated address, and this address houses its operating office in the commercial zone of Anqiu. Our checks reveal that SC rents the total premise, but SC’s accountant refused to release the gross area of the premise.
SC is not known to host website of its own at present.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Anqiu
Lu’An Pharmaceutical Co., Ltd. 100
Anqiu Lu'an Pharmaceutical Co., Ltd. (Former: Weifang No. 4
Pharmaceutical Factory ) is the largest Asian bulk pharmaceutical enterprises
specializing in producing and exporting Paracetamol (Acetaminophen) (annual
capacity is 24,000 tons), Paracetamol DC (DC90, DC96, DC85, DC83, DC77
etc)(annual capacity is 5000 tons ) and contract manufacture of Paracetamol
Finish Dosage including Paracetamol Codeine (Tablet, Caplet, Hard Capsule and
Soft Capsule) and Health Ingredients and Healthcare Products (annual capacity 8
billion tabs).
Web: http://www.luanpharm.com/
E-mail: luan@luanpharm.com
Add: No. 35 Weixu North Road, Anqiu, Shandong Province
Tel: 86 (0) 536-4390060
Fax: 86
(0) 536-4390238
l
Legal representative and
chairman:
Mr. Wang Jun, in his
Working Experience(s):
From 2008 to present Working in SC as legal
representative and chairman.
SC is mainly
engaged in international trade.
Main Products: various medicines, paper, wood pulp, etc.
SC sources its materials 90% from
domestic market, and 10% from overseas market. SC sells 30% of its products in
domestic market, and 70% 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.
Note:
SC refused to release its major suppliers and clients.
SC is not known to have any 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 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.
We could not
find the bank information on SC in local AIC.
Financial Summary
|
Unit: CNY’ 000 |
as of Dec. 31,
2010 |
as of Dec. 31,
2009 |
|
Total liabilities |
35,909 |
20,909 |
|
Shareholders equities |
7,140 |
4,211 |
|
|
--------------- |
--------------- |
|
Total assets |
43,049 |
25,120 |
|
|
========== |
========== |
|
Turnover |
236,749 |
223,195 |
|
Profit before tax |
3,905 |
3,997 |
|
Less: Profit tax |
976 |
999 |
|
Net profit |
2,929 |
2,998 |
Note: we did not find SC’s detailed
financial reports at local AIC for year 2009 and 2010.
Important Ratios
===============
|
|
as of Dec. 31,
2010 |
as of Dec. 31, 2009 |
|
*Liabilities
to assets |
0.83 |
0.83 |
|
*Net profit
margin (%) |
1.24 |
1.34 |
|
*Return on
total assets (%) |
6.80 |
11.93 |
|
*Turnover/Total
assets |
5.50 |
8.89 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin appears average in both 2
years.
l
SC’s return on total assets appears good in both 2
years.
l
SC’s turnover is in a fairly good level in both 2
years, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in both 2
years.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.50 |
|
|
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.