MIRA
INFORM REPORT
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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI NATURAL BIO-ENGINEERING CO., LTD. |
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Registered Office : |
No. 46, Lane 1500, Xinfei Road, Songjiang Industrial District, Shanghai, 200126 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.07.2006 |
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Com. Reg. No.: |
310115000957886 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Trading medicine raw materials and intermediates, etc. |
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No. of Employees : |
20 |
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 5,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
SHANGHAI NATURAL
BIO-ENGINEERING CO., LTD.
NO. 46, LANE 1500, XINFEI ROAD, SONGJIANG
INDUSTRIAL DISTRICT,
SHANGHAI, 200126 PR CHINA
TEL: 86 (0) 21-67602359 FAX: 86 (0) 21-67602387
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 3, 2006
REGISTRATION NO. :
310115000957886
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
20
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 33,260,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 1,320,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 5,000 (PERIODICAL REVIEW)
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 limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on July 3, 2006.
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 technology; selling
chemical products and raw materials (excluding
hazardous chemicals), machine & equipment (with permits if needed).
SC is mainly
engaged in trading medicine raw materials and intermediates, etc.
Mr. Liu
Zhiqiang has been legal representative,
chairman and general manager of SC since 2006.
SC is known to have approx. 20 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. Our checks reveal that SC
rents the premise, but SC’s accountant refused to release the gross area.
http://www.hnkeyuan.com/
It is the website of Hunan Keyuan Bio-products Co., Ltd. (湖南科源生物制品有限公司) and SC. The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: fuyun_123@hnkeyuan.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Liu Zhiqiang 95
Deng Baiyun 5
l
Legal representative, chairman and general
manager:
Mr. Liu Zhiqiang in his
Working Experience(s):
From 2006 to present Working
in SC as legal representative, chairman and general manager.
Also working in Hunan Keyuan Bio-products Co., Ltd. as legal representative.
SC is mainly
engaged in trading medicine raw materials and intermediates, etc.
SC’s products
mainly include: medicine raw materials, intermediates, herbal extracts, etc.
SC sources its materials 100% from domestic
market. SC sells 20% of its products in domestic market, and 80% 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 refused
to release its major suppliers and customers.
Hunan
Keyuan Bio-products Co., Ltd.
Address: Mao Ping Town, Chengbu Miao Autonomous
County, Hunan Province
Tel: 0086-739-7474658
Fax: 0086-739-7474986
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 records 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.
Agricultural Bank
of China Jinqiao Jinyang Road Sub-branch
AC#:
03343200040073371
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
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as of Dec. 31,
2010 |
as of Dec. 31,
2009 |
|
Cash & bank |
4,160 |
1,620 |
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Inventory |
80 |
1,900 |
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Accounts
receivable |
0 |
0 |
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Advances to
supplies |
0 |
0 |
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Other
receivables |
3,070 |
570 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
7,310 |
4,090 |
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Fixed assets net
value |
4,270 |
4,420 |
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Projects under
construction |
0 |
0 |
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Long-term
investments |
0 |
0 |
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Intangible and
other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
11,580 |
8,510 |
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============= |
============= |
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Short loans |
0 |
0 |
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Accounts payable |
5,110 |
3,040 |
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Advances from
customers |
3,420 |
1,530 |
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Accrued payroll |
0 |
0 |
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Welfares payable |
0 |
0 |
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Taxes payable |
-130 |
-90 |
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Other Accounts
payable |
1,860 |
1,920 |
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Other current
liabilities |
0 |
10 |
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----------------- |
----------------- |
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Current
liabilities |
10,260 |
6,410 |
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Long term
liabilities |
0 |
850 |
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------------------ |
------------------ |
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Total liabilities |
10,260 |
7,260 |
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Shareholders
equities |
1,320 |
1,250 |
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------------------ |
------------------ |
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Total
liabilities & equities |
11,580 |
8,510 |
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============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2010 |
as of Dec. 31,
2009 |
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Turnover |
33,260 |
20,440 |
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Cost of goods sold |
30,970 |
18,400 |
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Sales expense |
520 |
390 |
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Management expense |
1,560 |
900 |
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Finance expense |
100 |
160 |
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Profit before
tax |
80 |
560 |
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Less: profit tax |
20 |
20 |
|
Profits |
60 |
540 |
Important Ratios
=============
|
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as of Dec. 31,
2010 |
as of Dec. 31,
2009 |
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*Current ratio |
0.71 |
0.64 |
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*Quick ratio |
0.70 |
0.34 |
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*Liabilities
to assets |
0.89 |
0.85 |
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*Net profit
margin (%) |
0.18 |
2.64 |
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*Return on
total assets (%) |
0.52 |
6.35 |
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*Inventory
/Turnover ×365 |
1 day |
34 days |
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*Accounts
receivable/Turnover ×365 |
0 |
0 |
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*Turnover/Total
assets |
2.87 |
2.40 |
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* Cost of
goods sold/Turnover |
0.93 |
0.90 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, and
it increased in 2010.
l
SC’s net profit margin is average in both 2 years.
l
SC’s return on total assets is fairly good in 2009,
but average in 2010.
l
SC’s cost of goods sold is fairly high in both 2
years, comparing with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level in both 2 years.
l
SC’s quick ratio is maintained in a poor level in
2009 but in a fair level in 2010.
l
The inventory of SC appears fairly large in 2009
but average in 2010.
l
SC has no accounts receivable in both 2 years.
l
SC has no short-term loan in both 2 years.
l
SC’s turnover is in an average level in both 2
years, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is 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. A credit line up to USD 5,000 would appear to be within SC’s
capacities upon a periodical
review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 |
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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 |
-- |
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.