MIRA INFORM REPORT
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Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SHANGHAI DESANO CO., LTD. |
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Registered Office : |
No. 1479, Zhangheng Road, Zhangjiang High-Tech Park, Shanghai, 201203 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.12.2005 |
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Com. Reg. No.: |
310115000930770 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Iimporting & exporting
of pharmaceutical
products and investing & managing of its subsidiaries |
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No. of Employees
: |
8 |
RATING & COMMENTS
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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 4,000,000 |
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Status : |
Satisfactory |
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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) |
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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 & address
SHANGHAI DESANO Co., Ltd.
NO. 1479, ZHANGHENG ROAD, ZHANGJIANG HIGH-TECH
PARK,
SHANGHAI, 201203 PR CHINA
TEL: 86 (0) 21-51323300/13816022386 FAX:
86 (0) 21-51323311
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 28, 2005
REGISTRATION NO. : 310115000930770
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 8
REGISTERED CAPITAL :
CNY 578,837,404
BUSINESS LINE : trade, INVESTMENT
& MANAGEMENT
TURNOVER : CNY 765,360,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 552,160,000 (AS OF DEC. 31, 2010)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 4,000,000 (periodical review)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3142 = 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: The given contact person Mr. Lego released that SC’s complete name should be the heading one, instead of the given “Desano Limited”.
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 Dec. 28, 2005.
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 researching & developing of pharmaceutical products,
and technical
consultaion/development/transfer/service/training/contract/agency/buy shares,
investment management (excluding equity investment and equity investment
management) of the related fields, investment
consultation (excluding broker), importing & exporting of goods and
technology (excluding distribution and the items prohibited by the state.) (with permits if needed).
SC is mainly
engaged in importing & exporting of pharmaceutical
products and investing & managing of its subsidiaries.
Mr. Li
Jinliang has been legal representative, chairman and general manager of SC since 2008.
SC is known to have approx. 8 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office in the industrial zone of Shanghai. Our
checks reveal that SC owns the total premise, but SC’s accountant refused to
release the gross area of the premise.
http://www.desano.com/ It is the
website of Desano. The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
E-mail: info@desano.com
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2008 |
Registered no. |
3101152025156 |
Present one |
|
Legal representative |
Xu Shengping |
Present one |
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2009 |
Registered capital |
CNY 237,600,000 |
CNY 438,837,404 |
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Shareholdings |
Shanghai
Desano Pharmaceuticals Holding Co., Ltd. 50 50% Shanghai
Shenghan Investment Co., Ltd. (in Chinese Pinyin) 50 50% |
Shanghai
Desano Pharmaceuticals Holding Co., Ltd.
68.35% Shanghai
Shenghan Investment Co., Ltd. (in Chinese Pinyin) 27.07% Suzhou
Malide Investment Development Co., Ltd. (in Chinese Pinyin) 4.58% |
|
|
Unknown |
Registered capital |
CNY 438,837,404 |
Present amount |
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Shareholders & Shareholdings |
Shanghai
Desano Pharmaceuticals Holding Co., Ltd.
68.35% Shanghai
Shenghan Investment Co., Ltd. (in Chinese Pinyin) 27.07% Suzhou
Malide Investment Development Co., Ltd. (in Chinese Pinyin) 4.58% |
Present ones |
|
Company’s name |
Shanghai Desano Pharmaceuticals Investment
Co., Ltd. |
Present one |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Beijing Qiming Chuangke Venture
Capital Center
(Limited Partnership) (in Chinese
Pinyin) 2.07
Shanghai Chengding Venture
Capital Co., Ltd. (in Chinese Pinyin) 2.07
Shanghai Desano Industrial Development Co.,
Ltd. 23.40
Shanghai Desano Pharmaceuticals Holding Co.,
Ltd. 16.50
Shanghai Hengrong Investment & Management
Center
(Limited Partnership) (in Chinese Pinyin) 3.28
Shanghai Jinglin Jingqi Investment Center
(Limited Partnership) (in Chinese Pinyin) 3.46
Shanghai Ounaier Investment Center
(Limited Partnership) (in Chinese Pinyin) 1.21
Shanghai Shenghan Investment Co., Ltd.
(in Chinese Pinyin) 20.52
Shanghai Zengrun Investment Consultation
& Management Co., Ltd.
(in Chinese Pinyin) 0.17
Suzhou Industrial Zone Yongbo Investment
Center
(Limited Partnership) (in Chinese Pinyin) 3.47
Nanhai Chuangxin (Tianjin) Equity Investment
Fund Partnership
(Limited Partnership) (in Chinese Pinyin) 3.46
Shanghai Derun Investment Co., Ltd. 1.38
Shanghai Jinglin Venture Capital
Center
(Limited Partnership) (in
Chinese Pinyin) 5.18
Shanghai Nuoxin Investment Management
Development Center
(Limited Partnership) (in
Chinese Pinyin) 0.61
Shanghai Saijian Investment Management
Development Center
(Limited Partnership) (in
Chinese Pinyin) 6.31
Shanghai Zhangjiang Panshi Baolin Equity
Investment Partnership
(Limited Partnership) (in Chinese Pinyin) 5.18
Shanghai Kunpeng Investment Development Co.,
Ltd. 1.73
Shanghai Desano Industrial Development Co.,
Ltd.
=====================================
Registration No.: 310225000277334
Registered Capital: CNY 100,000,000
Legal Representative: Xu Shengping
Shanghai Desano Pharmaceuticals Holding Co.,
Ltd.
======================================
Registration No.: 310115400055243
Registered Capital: CNY 300,000,000
Legal Representative: Xu Shengping
l
Legal Representative, Chairman and General Manager:
Mr. Li Jinliang, born in 1972, with university
education. He is currently responsible for the overall and daily management of
SC.
Working Experience(s):
From 2008 to present Working in SC as legal representative, chairman and general manager.
Also working in Shanghai Desano Chemical Pharmaceutical Co., Ltd., Shanghai Desano Biopharmaceutical Co., Ltd. and etc. as legal representative
Note: The given contact person Mr. Lego (Phone No.: +86-13816022386) belongs to SC.
SC is mainly
engaged in importing & exporting of pharmaceutical
products and investing & managing of its subsidiaries.
SC’s products mainly include: Stavudine, Nevirapine, Zidovudine, Efavirenz and other
pharmaceutical
products.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 10% of its
products in domestic market, and 90% to overseas market, mainly to India.
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.
Major Suppliers:
============
Shanghai Desano Chemical Pharmaceutical Co., Ltd.
Shanghai Desano Biopharmaceutical Co., Ltd
Mumbai
Office:
============
Contact
person: Mr. Hitesh Israni
Mobile
no.: 9821090020
SC is known to invest in the following companies:
Shanghai Desano Biopharmaceutical Co., Ltd.
Shanghai Desano Chemical Pharmaceutical Co., Ltd.
Shanghai
Desano Environment Co., Ltd.
Jiangsu
Puxin Pharmaceuticals Development Co., Ltd.
Jiangsu
Tianhe Desano Pharmaceuticals 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.
China Construction Bank Shanghai Zhangjiang Sub-branch
AC#:
31001523211050005172
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as of Dec. 31,
2010 |
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Cash & bank |
13,340 |
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Inventory |
0 |
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Accounts
receivable |
97,900 |
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Advances to
supplies |
0 |
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Other
receivables |
172,750 |
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Subsidies
receivable |
0 |
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Prepaid expenses |
0 |
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Other current
assets |
0 |
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|
------------------ |
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Current assets |
283,990 |
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Fixed assets net
value |
20,760 |
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Projects under
construction |
0 |
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Project
materials |
0 |
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Long-term
investments |
557,050 |
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Intangible
assets |
0 |
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Other assets |
0 |
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------------------ |
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Total assets |
861,800 |
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============= |
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Short loans |
80,000 |
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Notes payable |
0 |
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Accounts payable |
218,670 |
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Advances from
customers |
0 |
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Welfares payable |
0 |
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Taxes payable |
390 |
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Surcharge
payable |
0 |
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Other Accounts
payable |
10,580 |
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Accrued expenses |
0 |
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Other
current liabilities |
0 |
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------------------ |
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Current
liabilities |
309,640 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
309,640 |
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Shareholders
equities |
552,160 |
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------------------ |
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Total
liabilities & equities |
861,800 |
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============= |
Income Statement
Unit: CNY’000
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as of Dec. 31,
2010 |
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Turnover |
765,360 |
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Cost of goods sold |
723,750 |
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Taxes and additional of main
operation |
10 |
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Sales expense |
17,600 |
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Management expense |
11,710 |
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Finance expense |
10,040 |
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Profit before
tax |
2,250 |
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Less: profit tax |
480 |
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Profits |
1,770 |
Important Ratios
=============
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as of Dec. 31,
2010 |
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*Current ratio |
0.92 |
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*Quick ratio |
0.92 |
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*Liabilities
to assets |
0.36 |
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*Net profit
margin (%) |
0.23 |
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*Return on
total assets (%) |
0.21 |
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*Inventory
/Turnover ×365 |
0 |
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*Accounts
receivable/Turnover ×365 |
47days |
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*Turnover/Total
assets |
0.89 |
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* Cost of
goods sold/Turnover |
0.95 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover.
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
SC has no inventory in 2010.
l
The accounts receivable of SC appears average.
l
SC’s short-term loan is in an average level.
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 low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable
financial conditions. A credit line up to USD 4,000,000 appears to be within
SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.73 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.67.01 |
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 |
|
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.