MIRA INFORM
REPORT
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Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SHANGHAI XINLIAN CHEMICALS CO., LTD. |
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Registered Office : |
No. Tieli Road, Baoshan District, Shanghai
200940 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.12.1996 |
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Com. Reg. No.: |
022996 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
manufacturing and selling
pharmaceutical intermediates and pharmaceutical raw materials |
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No. of Employees
: |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 100,000 |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 Xinlian Chemicals Co., Ltd.
(Also known as:
pentsao chemical & pharmaceutical industry co., ltd.)
no. tieli road,
baoshan district, shanghai 200940 PR CHINA
TEL: 86 (0)
21-56673877/56673293
FAX: 86 (0)
21-56673293
EXECUTIVE SUMMARY
Date of Registration : december 4, 1996
REGISTRATION NO. : 022996
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL :
usd 1,400,000
staff : 100
BUSINESS CATEGORY :
manufacturing
Revenue : CNY 39,550,000 (AS OF DEC. 31, 2010)
EQUITIES : CNY 16,860,000 (AS OF
DEC. 31, 2010)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
100,000
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.31 = 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 wholly foreign-owned enterprise of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.: 022996 on December
4, 1996.
SC’s Organization Code Certificate No.:
60736392-4
SC’s registered capital: usd 1,400,000
SC’s paid-in capital: usd 1,400,000
Registration Change Record:
No significant changes of SC have been
noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Pentsao Chemical Industry Limited (Hong
Kong) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman
and General Manager |
Zheng Peisheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Pentsao Chemical Industry
Limited (Hong Kong) 100
-----------------------------------------------------------
Registration No.: 0532104
Date of Registration: November
28, 1995
Legal Form: Private
Status: Live
MANAGEMENT
Zheng
Peisheng, Legal Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman and general manager
BUSINESS OPERATION
SC’s registered
business scope includes manufacturing pharmaceutical intermediates and
pharmaceutical raw materials; selling its owned products.
SC is mainly
engaged in manufacturing and selling pharmaceutical intermediates and pharmaceutical
raw materials.
SC’s
products mainly include: pharmaceutical intermediates and pharmaceutical raw
materials.
SC sources its materials 100%
from domestic market. SC sells 10% in domestic market, and 90% to overseas
market, mainly India, Japan, Korea and Europe.
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.
Staff & Office:
--------------------------
SC is
known to have approx. 100 staff
at present.
SC rents an area as its operating office and factory, but the detailed
information is unknown.
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.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
1,980 |
1,560 |
|
|
Accounts
receivable |
0 |
0 |
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Other receivable |
1,470 |
1,760 |
|
Inventory |
9,850 |
2,250 |
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Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
1,110 |
7,440 |
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|
------------------ |
------------------ |
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Current assets |
14,410 |
13,010 |
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Fixed assets |
12,340 |
11,710 |
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Construction in
progress |
0 |
0 |
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Intangible
assets |
0 |
0 |
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Long-term
prepaid expenses |
0 |
0 |
|
Other
non-current assets |
1,570 |
1,310 |
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|
------------------ |
------------------ |
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Total assets |
28,320 |
26,030 |
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============= |
============= |
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Short-term loans |
2,900 |
0 |
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Notes payable |
0 |
0 |
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Accounts payable |
5,000 |
4,690 |
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Wages payable |
0 |
0 |
|
Other payable |
550 |
6,340 |
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Other current
liabilities |
4,010 |
-1,760 |
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|
------------------ |
------------------ |
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Current
liabilities |
12,460 |
9,270 |
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Non-current
liabilities |
10 |
-100 |
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|
------------------ |
------------------ |
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Total
liabilities |
12,470 |
9,170 |
|
Equities |
15,850 |
16,860 |
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|
------------------ |
------------------ |
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Total
liabilities & equities |
28,320 |
26,030 |
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|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
39,550 |
|
Cost of sales |
30,270 |
|
Sales expense |
870 |
|
Management expense |
8,250 |
|
Finance expense |
-1,060 |
|
Profit before
tax |
1,160 |
|
Less: profit tax |
160 |
|
1,000 |
Important Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
1.16 |
1.40 |
|
*Quick ratio |
0.37 |
1.16 |
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*Liabilities
to assets |
0.44 |
0.35 |
|
*Net profit
margin (%) |
-- |
2.53 |
|
*Return on
total assets (%) |
-- |
3.84 |
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*Inventory /
Revenue ×365 |
-- |
21 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
-- |
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*
Revenue/Total assets |
-- |
1.52 |
|
* Cost of
sales / Revenue |
-- |
0.77 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
average in its line in 2010.
l
SC’s net profit margin is average in 2010.
l
SC’s return on total assets is average in 2010.
l
SC’s cost of goods sold is average, comparing with
its revenue.
LIQUIDITY:
AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a fairly good
level in 2010.
l
The inventory of SC is maintained in an average
level.
l
SC has no accounts receivable in both years.
l
SC has no short-term loans in 2010.
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. A credit line up to USD 100,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.65 |
|
UK Pound |
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
RATING EXPLANATIONS
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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.