MIRA INFORM REPORT
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Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SHINVA MEDICAL INSTRUMENT CO., LTD. |
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Registered Office : |
Shinva Medical Scientific Zone, No. 7, Taimei Road, Zibo Hi-Tech Zone,
Shandong Province, 255086 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
18.04.1993 |
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Com. Reg. No.: |
370000018011499 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
manufacturing and selling medical apparatus and
instruments |
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No. of Employees
: |
1,758 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5,000,000 |
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Status : |
Good |
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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 |
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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 & address
SHINVA MEDICAL
INSTRUMENT CO., LTD.
SHINVA MEDICAL SCIENTIFIC ZONE, NO. 7, TAIMEI ROAD, ZIBO HI-TECH ZONE,
SHANDONG PROVINCE, 255086 PR CHINA
TEL: 86 (0) 533-3587720
FAX: 86 (0) 533-3587768
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 18, 1993
REGISTRATION NO. :
370000018011499
REGISTERED LEGAL FORM :
SHARES LIMITED CO.
CHIEF EXECUTIVE :
MS. ZHAO YIXIN (CHAIRMAN)
STAFF STRENGTH :
1,758
REGISTERED CAPITAL : CNY 134,394,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 953,695,000 (CONSOLIDATED, JAN. 1 TO JUN. 30, 2011)
EQUITIES :
CNY 835,086,000 (CONSOLIDATED, AS OF JUN. 30, 2011)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO
USD 5,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
CNY 6.31 =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’s English name should be the heading one instead of the given one (Shandong Xinhus Medical Instruments Co., Ltd.).
SC was registered as a Shares limited co. at Shandong Provincial Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Apr. 18, 1993.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co. requires
at least two promoters and no more than 200, half of whom shall be domiciled in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises capital by public
offer, the promoters must not subscribe less than 35% of the total shares.
the promoters’ shares are restricted to transfer- within one year of the
offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes manufacturing &
selling class 2 disinfection & sterilization equipment (6857), class 3
medical high-energy rays equipment (6332), class 3 medical radionuclide equipment
(6833), class 2&3 medical X-ray equipment (6830), class 2&3 surgical
room, emergency room and clinic equipment (6854), class 2 dental equipment and
apparatus (6855), class 2 medical ultrasound equipment and related equipment
(6823), class 2 ward nursing equipment and apparatus (6856); selling class
2&3 medical devices products; manufacturing & selling disinfectants,
disinfection equipment. Pharmaceutical equipment; selling environmental
equipment; manufacturing instruments & related software; designing,
constructing and decorating houseroom engineering, air purification and indoor
decoration engineering; medical & pharmaceutical equipment installation and
intelligent construction.
SC is
mainly engaged in manufacturing and selling medical apparatus and instruments.
Ms.
Zhao Yixin has been legal representative and chairman of SC since 2001.
SC is known to have approx. 1,758 employees
at present, including 909 production staff, 310 sales staff, 350 technical
staff, 35 financial staff, 78 administration staff and 76 other-position staff.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the hi-tech zone of Zibo.
Our checks reveal that SC owns the total premise about 120,000 square meters.
http://www.shinva.com/ The design is professional and the content is well
organized. At present it is both in Chinese and English versions.
E-Mail: shinva@163.com
SC is a listed company in Shanghai Stock Exchange Market
with the code of 600587.
Changes of SC’s registered information:
|
Date |
Item |
Before changed |
After changed |
|
|
Registered number |
3700001801149 |
Present one |
Shinva Medical has passed the quality management certificate
such as ISO9001, ISO13485, CE and etc. Shinva Medical is the only enterprise
technology center at national class, the only enterprise with standardization
good behavior at class “AAAA”, and also one of the few listed companies in the
medical device industry.
Tax Registration Certificate No.: 370303267171351
Organization Code: 26717135-1
MAIN SHAREHOLDERS:
(As of Jun. 30, 2011)
Name % of Shareholding
Zibo Mining Group Co., Ltd. 29
China Construction Bank- Huaxia
Advantage
Rising Stock Securities
Investment Funds 4.79
ICBC-Yifangda Value Rising Mixed
Securities Investment Funds 3.13
Weigao Holding Company Limited 2.98
International Finance-Citibank-Martin Currie
Investment Management Limited 2.43
Bank of Communications- Taida Hongli Value
Optimize Rising Industry Securities Investment Funds 2.07
Bank of Communications- Huifeng Jinxin
Consume
Dividend Stock Securities
Investment Funds 1.8
Agricultural Bank of China-Taida Hongli
Leading
Medium & Small Stock Securities Investment Funds 1.73
Bank of Communications- Kerui Securities Investment Funds 1.66
Zibo Municipal Finance Bureau 1.65
Other Shareholders 48.76
Zibo Mining Group Co., Ltd.
=====================
Tel: 0533-5854114
Website: http://www.zbcoal.com/
Weigao Holding Company Limited
==========================
Address: 312, Shichang Road,
Weihai, Shandong Province
Tel: 86 0631-5620486
Fax: 86 0631-5620555
Website: http://www.weigaoholding.com
l
Legal
representative and
chairman:
Ms. Zhao Yixin, born in 1956 with university education, senior economist. She is currently responsible for the overall management of SC.
Working Experience(s):
From 1993 to 1998 Worked in SC as director and vice general manager;
From 1998 to 2001 Worked
in SC as director and general manager;
From 2001 to present Working
in SC as chairman and legal representative.
l
General manager:
Mr. Xu Shangfeng, born in 1960 with master’s degree, senior
engineer. He is currently responsible for the daily management of SC.
Working Experience(s):
From 1993 to 2001 Worked in SC as vice general manager;
From 2001 to present Working in SC as general manager.
Also working in Shanghai Taimei Medical Equipment Co., Ltd. as legal representative.
l
Vice General managers:
Zhao Yong
Ji Yuexiang
Yang Zhaoxu
Li Xiuqing
l
Directors:
Yu Jinming
Li Zhongtai
Zhu Desheng
Etc.
l
Supervisors:
Wang Yuquan
Wang Shiping
Etc.
SC is
mainly engaged in manufacturing and selling medical apparatus and instruments.
SC’s products mainly include: sterilizer, Pharmaceutical Machine,
Radiotherapy Equipment, Surgical Instrument, Air Disinfector, disposable
medical products, etc.
SC sources its materials 97% from domestic market and 3%
from the overseas market. SC sells 4% of its products to overseas market and 96% in domestic
market.
The buying terms of SC include Check, L/C, 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.
*Major Supplier*
=============
Beijing Haisen Medicine I/E Co., Ltd.
*Major Customers*
==============
Zibo Mining Group Co., Ltd. Central Hospital
Central Hospital of Zibo
Shandong Qidu Pharmaceutical Co., Ltd.
Etc.
SC is known to have the following subsidiaries:
Shinva Medical Instrument Co., Ltd.
Shanghai Shinva Shupu Purification Technology Co., Ltd.
Shandong Shinva Medical Environmental Equipment Co., Ltd.
Shanghai Taimei Medical Equipment Co., Ltd.
Shinva GE Medical System Co., Ltd.
Shandong Shinva Qilin Software Technology Co., Ltd.
Etc.
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’s suppliers
declined to make any comments.
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.
Industrial and
Commercial Bank of China Zhangdian Sub-branch
AC#: 1603002129200114688
Relationship:
Normal.
Consolidated
Balance Sheet
Unit: CNY’000
|
|
as of Jun. 30, 2011 |
as
of Dec. 31, 2010 |
|
Cash
& bank |
366,633 |
316,832 |
|
Bills
receivable |
40,532 |
37,709 |
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Accounts
receivable |
379,572 |
276,930 |
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Other
receivables |
71,954 |
41,012 |
|
Advances to
suppliers |
42,666 |
34,194 |
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Inventory |
498,006 |
403,777 |
|
Other
current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
assets |
1,399,363 |
1,110,454 |
|
Fixed
assets net value |
211,695 |
205,179 |
|
Projects
under construction |
128,366 |
87,365 |
|
Long
term investment |
25,726 |
25,488 |
|
Investment
real estate |
62 |
64 |
|
Intangible
assets |
39,813 |
41,503 |
|
Goodwill |
4,651 |
4,651 |
|
Deferred
tax assets |
18,444 |
16,306 |
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Other
assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total
assets |
1,828,120 |
1,491,010 |
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|
============= |
============= |
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Short
loans |
151,486 |
50,000 |
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Bills
payable |
70,220 |
50,148 |
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Accounts
payable |
341,624 |
253,072 |
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Advances from
clients |
342,266 |
299,399 |
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Accrued
payroll |
5,773 |
3,838 |
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Tax
payable |
-12,733 |
-13,260 |
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Dividends
payable |
4,147 |
4,147 |
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Other
payable |
47,474 |
41,749 |
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Other
current liabilities |
0 |
0 |
|
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------------------ |
------------------ |
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Current
liabilities |
950,257 |
689,093 |
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Long
term liabilities |
6,000 |
6,000 |
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Other
liabilities |
36,777 |
18,857 |
|
|
------------------ |
------------------ |
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Total
liabilities |
993,034 |
713,950 |
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Equities |
835,086 |
777,060 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
1,828,120 |
1,491,010 |
|
|
============= |
============= |
Consolidated Income
Statement
Unit: CNY’000
|
|
Jan. 1 to Jun. 30, 2011 |
as
of Dec. 31, 2010 |
|
Turnover |
953,695 |
1,342,233 |
|
Cost of goods sold |
740,007 |
1,017,525 |
|
Taxes and additional of main
operation |
3,724 |
6,096 |
|
Sales expense |
87,264 |
147,412 |
|
Management expense |
55,887 |
89,812 |
|
Finance expense |
1,914 |
-1,423 |
|
Assets impairment loss |
7,164 |
12,819 |
|
Income on the
changes in fair value |
0 |
-25 |
|
Investment
income |
444 |
4,283 |
|
Non-operating
income |
2,295 |
4,056 |
|
Non-operating expense |
194 |
410 |
|
Profit before
tax |
60,280 |
77,896 |
|
Less: profit tax |
8,854 |
13,270 |
|
Profits |
51,426 |
64,626 |
Important Ratios
=============
|
|
as of Jun. 30, 2011 |
as
of Dec. 31, 2010 |
|
*Current ratio |
1.47 |
1.61 |
|
*Quick ratio |
0.95 |
1.03 |
|
*Liabilities
to assets |
0.54 |
0.48 |
|
*Net profit
margin (%) |
5.39 |
4.81 |
|
*Return on
total assets (%) |
2.81 |
4.33 |
|
*Inventory
/Turnover ×365 |
/ |
110 days |
|
*Accounts receivable/Turnover
×365 |
/ |
75 days |
|
*Turnover/Total
assets |
0.52 |
0.90 |
|
* Cost of
goods sold/Turnover |
0.78 |
0.76 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good
in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is average,
comparing with 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.
l
The accounts receivable of SC appears
average.
l
SC’s short-term loan appears average.
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 average.
l
The risk for SC to go bankrupt is low.
Overall
financial condition of the SC: Stable.
SC is considered large-sized in its line with stable financial
conditions. A credit line up to USD 5,000,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
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 |
|
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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.