MIRA
INFORM REPORT
|
Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
LUOHE CHAMP GROWING TRADING CO.,LTD |
|
|
|
|
Registered Office : |
RM 1013, Block A, Meisheng International Building, Yinji Commerce & Trade Town, Renmin Road, Yuanhui District, Luohe City, Henan Province 462000 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
21.11.2007 |
|
|
|
|
Com. Reg. No.: |
411100100002344 |
|
|
|
|
Legal Form : |
Limited Liabilities
Company |
|
|
|
|
Line of Business : |
Wholesale and Sales of Bulk Pharmaceutical Chemicals |
|
|
|
|
No. of Employees : |
10 |
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 : |
Chinese Yuan 60,000.00 |
|
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
LUOHE CHAMP GROWING TRADING CO.,LTD
RM 1013, Block A, Meisheng International
Building, Yinji Commerce & Trade Town, Renmin Road, Yuanhui District, Luohe
City, Henan Province
462000
Tel : 86 395 3168080 /
13956066005
Fax: 86 395 3168080 /
2660127
E-mail: njc_pharma@163.com
Website: --
Currency in this report is Chinese Yuan
unless otherwise stated.
Exchange Rate: 1 USD=6.31 Chinese Yuan
"--"in this report indicates
"unavailable" due to insufficient information or "no
comments"
Note:
The credit limit provide in the
order (USD125, 000) is high. The feasible credit limit is as listed in the
report.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Nov.21st, 2007 |
|
Aic Registration No. |
411100100002344 |
|
REGISTERED LEGAL FORM |
limited liabilities
company |
|
REGISTERED CAPITAL |
500,000.00 |
|
main BUSINESS |
Wholesale and sales of bulk pharmaceutical
chemicals |
|
SIC Code (China) |
6351 Wholesale of western medicine |
|
|
|
|
employees |
10 |
|
import and export permits |
yes |
|
business scale |
Average |
|
operation trend |
Average |
|
TURNOVER |
18,630,000.00 (As of Dec.31st,
2010) |
|
net profit |
150,000.00 (As of Dec.31st,
2010) |
|
total assets |
2,641,000.00 (As
of Dec.31st, 2010) |
|
net worth |
577,000.00 (As
of Dec.31st, 2010) |
|
|
|
|
base Credie limit |
60,000.00 |
|
EXCHANGE RATE |
1 Usd=6.31CNY (Jan 5th, 2012) |
REGISTRATION
|
Name |
LUOHE CHAMP GROWING TRADING CO.,LTD |
|
AIC Registration Number |
411100100002344 |
|
Registered address |
RM 1013, Block A, Meisheng International
Building, Yinji Commerce & Trade Town, Renmin Road, Yuanhui District,
Luohe City, Henan Province |
|
Operation address |
RM 1013, Block A, Meisheng International
Building, Yinji Commerce & Trade Town, Renmin Road, Yuanhui District,
Luohe City, Henan Province |
|
Date of Establishment |
Nov.21st, 2007 |
|
Registry |
Administration Bureau of Industry and Commerce
–Yuanhui Dist (Luohe) |
|
Legal Representative |
Liu Xiangang |
|
Registered Legal Form |
limited liabilities company |
|
Registered Capital |
500,000.00 |
|
Operating Duration |
From Nov.21st, 2007 to Nov.19th,
2017 |
|
Changes in Registration |
-- |
Limited liabilities co.
This form of business in PR China is defined as a
legal person. Its registered capital is contributed jointly by at least two
shareholders and no more than fifty. 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 listed
as follows:
-manufacturing co. :
RMB 500,000.00
-trading &wholesaling co. :
RMB 500,000.00
-retailing co. : RMB 300,000.00
-consultancy & service co. :
RMB 100,000.00
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 50% of the registered capital while contribution by intangible
assets must not exceed 20% 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.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Liu Xiangang |
500,000.00 |
100% |
|
Total |
500,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Liu Xiangang |
Capital
|
100% |
Background
of major shareholder
|
Name |
Liu Xiangang |
|
Gender |
Male |
|
Date of birth |
Mar.19th, 1976 |
|
National ID No. |
411102197603195618 |
AFFILIATE(S)
No affiliate of subject is
found after checking
MANAGEMENT
|
Name |
Liu Xiangang |
|
Gender |
Male |
|
Title |
Executive director and General manager |
|
Date of birth |
Mar.19th, 1976 |
|
National ID No. |
411102197603195618 |
|
|
|
|
Name |
Kong Aiqing |
|
Gender |
Female |
|
Title |
Supervisor |
|
Date of birth |
Dec.23rd, 1957 |
|
National ID No. |
411102571223052 |
BANKERS INFORMATION
|
Bank name |
Industrial and Commercial Bank of China – Renmin
Road Sub-branch (Luohe) |
|
Account No. (CNY) |
-- |
|
Source of information |
Subject’s staff. |
OFFICE FACILITIES
|
Geographic Location |
RM 1013, Block A, Meisheng International Building, Yinji Commerce
& Trade Town, Renmin Road, Yuanhui District, Luohe City, Henan Province |
|
Area |
200 square meters |
|
Environment and traffic |
Average |
|
Property Ownership |
Rented |
TRADEMARKS
& PATENTS
After checking with the
Trademark Office of Chinese Administration Bureau of Industry and Commerce and the
State Intellectual Office, no trademarks or patents of SC were found.
MAIN
PRODUCTS & SERVICES
|
Main business |
Wholesale and sales of bulk pharmaceutical
chemicals. |
|
Products and services |
SC mainly deals with wholesale and sales of
bulk pharmaceutical chemicals. Its products are mainly antibiotics and
antituberculotic including rifampin, rifomycin, rifaximin, rifapentine, etc. |
|
Annual production capacity |
-- |
|
Certificates |
-- |
SALES
INFORMATION
|
Local sales |
50% |
|
Regions |
All
over China |
|
Major domestic clients |
-- |
|
Payment terms |
Prompt payment; on credit |
|
Export |
50% |
|
Regions |
Middle
East, etc. |
|
Major overseas clients |
NOVARTIS
PHARMA (PAKISTAN) LTD |
|
Payment terms |
L/C, T/T |
|
SC’s products are sold
both domestically and internationally. Its clients are mainly pharmaceutical
product manufacture enterprises. SC’s international sales markets are mainly concentrated
in Middle East regions. Its sales network needs to be further developed. |
|
|
The above information was
confirmed by SC’s employee on Jan.5th, 2012. |
|
PURCHASE
INFORMATION
|
Main Commodities Purchased |
Rifampin, etc. |
|
Region |
Local: 100% |
|
Number of Major Suppliers |
More than 5 |
|
Major suppliers |
LUOHE NANJIECUN PHARMACEUTICAL GROUP
CO.,LTD., etc. |
|
Main Terms of Payment |
Prompt payment; on credit |
|
SC’s products are all purchased from domestic
enterprises. According to SC’s staff, SC has many suppliers among which many
are large-sized pharmaceutical companies. |
|
|
The above information was confirmed by SC’s
employee on Jan.5th, 2012. |
|
CREDIT
|
Name of supplier |
LUOHE NANJIECUN
PHARMACEUTICAL GROUP CO.,LTD. |
|
Main commodities and service supplied |
Rifampin |
|
Title of interviewee |
Office staff. |
|
Telephone of Interviewee |
86 395 2660156 |
|
Cooperation |
Confirmed |
|
Payment comment |
Prompt |
|
Date of interview |
Jan.5th, 2012 |
LITIGATION
RECORDS
After checking with China Court organization,
the local court website and other major searching websites, no litigation record
related to subject company in the latest three years is found.
FINANCE
Balance Sheet & Income Statement (Unit: 1,000 Chinese
Yuan):
|
|
Dec.
31st, 2009 |
Dec. 31st, 2010 |
|
Total assets |
395 |
2,641 |
|
Total liabilities |
1,084 |
2,064 |
|
Total owner’s interest |
-689 |
577 |
|
Liabilities and owner’s interest |
395 |
2,641 |
|
Main business income |
3,153 |
18,630 |
|
Total profit |
-120 |
161 |
|
- income tax |
0 |
11 |
|
Net profit |
-120 |
150 |
Important Ratios:
|
|
2009 |
2010 |
|
Return on net assets (%) |
17.42 |
26.00 |
|
Return on total assets (%) |
-30.38 |
5.68 |
|
Net profit margin (%) |
-3.81 |
0.81 |
|
Turnover of total assets |
7.98 |
7.05 |
|
Turnover of current assets |
|
|
|
Turnover of account receivable |
|
|
|
Inventory turnover |
|
|
|
Asset liability ratio (%) |
274.43 |
78.15 |
|
Current ratio |
|
|
|
Quick ratio |
|
|
Note: Through
the current AIC channels, only the financial summary of 2009 and 2010 is
obtained for the client’s reference.
Analysis of financial indicator
Long-term solvency: average
Short-term solvency: --
Asset security: average
Inventory status: --
Capital turnover: good
Debt recovery status: --
Profitability: poor
Return on assets (ROA): acceptable
Enterprise background: average
Payment records: good
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
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.