MIRA INFORM REPORT
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Report Date : |
05.01.2012 |
IDENTIFICATION DETAILS
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Name : |
EHFIELD CO., LTD. |
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Registered Office : |
Room 2109, New World Centre A, No. 88 Zhujiang Road,
Nanjing, Jiangsu Province
210000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.04.2007 |
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Com. Reg. No.: |
320113000042855 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
selling API, intermediates, herbal
extracts, and food additives |
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No. of Employees
: |
11 |
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 2,000 |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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
EHField Co., Ltd.
room 2109, new world
centre a, no. 88 zhujiang road, nanjing
jiangsu province
210000 PR CHINA
TEL: 86 (0)
25-86551227
FAX: 86 (0)
25-86551227
EXECUTIVE SUMMARY
Date of Registration : april 3, 2007
REGISTRATION NO. : 320113000042855
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 600,000
staff : 11
BUSINESS CATEGORY :
trading
Revenue :
CNY 21,544,000 (AS OF DEC. 31,
2010)
EQUITIES :
CNY 401,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
2,000
MARKET CONDITION : average
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.29 = 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
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 320113000042855 on April 3,
2007.
SC’s Organization Code Certificate No.:
66065141-5
SC’s Tax No.: 320113660651415
SC’s registered capital: cny 600,000
SC’s paid-in capital: cny 600,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
3201132006574 |
320113000042855 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chen Zhangsong |
10 |
|
Wang Yan |
80 |
|
Zhang Huifang |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Wang
Yan |
|
Supervisor |
Zhang
Huifang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Chen Zhangsong 10
Wang Yan 80
Zhang Huifang 10
MANAGEMENT
Wang
Yan, Legal Representative, Chairman and General
Manager
-----------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Age: 37
Ø
ID# 32010219740101322X
Ø
Qualification:
University
Ø
Working
experience (s):
From 2007 to present, working in SC as legal representative, chairman and general manager
Zhang
Huifang, Supervisor
-----------------------------------------------
Ø
Gender: F
Ø
Age: 71
Ø
ID# 320113194012205223
BUSINESS OPERATION
SC’s registered business scope includes medical technology
development, research and development of biological products; selling chemical
products, light industrial products, cosmetics, arts and crafts, textiles,
mechanical and electrical products, electronic products, instruments, building
materials; developing and selling computer software; technology information
consulting services; operating and acting as an agent of importing and
exporting various kinds of commodities and technology, excluding the goods
forbidden by the government.
SC is
mainly engaged in selling API, intermediates, herbal extracts, and food
additives.
SC’s
products mainly include: intermediates of ophthalmic, arbutin, nucleotides
products, etc.
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 30% of its products in domestic
market, and 70% to overseas market, mainly Southeast Asian market.
The
buying terms of SC include T/T, L/C and Credit of 30-60 days. The payment terms
of SC include T/T, L/C and Credit of 30-60 days.
*Major Supplier:
=============
Harbin
Pharmaceutical Group Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 11 staff at present.
SC rents an area
as its operating office of approx. 100 sq. meters at the heading address.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
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
The bank
information of SC is not filed in SAIC.
***Note: SC’s management declined to release
whether it has account in State Bank of India Shanghai Branch.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
1,313 |
122 |
|
|
Accounts
receivable |
1,524 |
1,909 |
|
Advances to
suppliers |
4,504 |
3,462 |
|
Other receivable |
71 |
142 |
|
Subsidies
receivable |
836 |
337 |
|
Inventory |
68 |
1 |
|
Prepaid
expenses |
13 |
0 |
|
Other current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current assets |
8,329 |
5,973 |
|
Fixed assets |
1,867 |
1,766 |
|
Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
83 |
21 |
|
Deferred income tax
assets |
0 |
0 |
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Other
non-current assets |
0 |
0 |
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|
------------------ |
------------------ |
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Total assets |
10,279 |
7,760 |
|
|
============= |
============= |
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Short-term loans |
0 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
5,527 |
1,881 |
|
Wages payable |
0 |
0 |
|
Taxes payable |
664 |
-249 |
|
Advances from
clients |
10 |
2,149 |
|
Other payable |
3,782 |
3,578 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
liabilities |
9,983 |
7,359 |
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Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Total
liabilities |
9,983 |
7,359 |
|
Equities |
296 |
401 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
10,279 |
7,760 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2009 |
As of Dec. 31,
2010 |
|
Revenue |
14,934 |
21,544 |
|
Cost of sales |
13,976 |
19,930 |
|
Sales expense |
494 |
643 |
|
Management expense |
835 |
990 |
|
Finance expense |
63 |
90 |
|
Subsidy income |
88 |
77 |
|
Non-business
income |
0 |
5 |
|
Non-business expense |
0 |
0 |
|
Profit before
tax |
-338 |
100 |
|
Less: profit tax |
5 |
0 |
|
-343 |
100 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.83 |
0.81 |
|
*Quick ratio |
0.83 |
0.81 |
|
*Liabilities
to assets |
0.97 |
0.95 |
|
*Net profit
margin (%) |
-2.30 |
0.46 |
|
*Return on
total assets (%) |
-3.34 |
1.29 |
|
*Inventory /
Revenue ×365 |
2 days |
1 day |
|
*Accounts
receivable/ Revenue ×365 |
38 days |
33 days |
|
*
Revenue/Total assets |
1.45 |
2.78 |
|
* Cost of
sales / Revenue |
0.94 |
0.93 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average, and it was
rising in 2010.
l
SC’s net profit margin is fair in 2009 and average
in 2010.
l
SC’s return on total assets is fair in 2009 and
average in 2010.
l
SC’s cost of goods sold is fairly high, comparing
with its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a fair
level.
l
SC’s quick ratio is maintained in a normal level.
l
The inventory of SC is maintained in an average
level.
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:
FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with
fair financial conditions. A credit line up to USD 2,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
UK Pound |
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.69.25 |
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 |
|
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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.