MIRA
INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
GUOTENG SCIENCE & TECHNOLOGY DEVELOPMENT CO., LTD. |
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Registered Office : |
6/F, Three Dimension and Technology Building, No. 184 Bailian
Road Jida, Zhuhai City, Guangdong Province 519015 |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.12.2003 |
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Com. Reg. No.: |
440400000098178 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling Medical Equipments. |
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No. of Employees : |
96 |
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 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 30, 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 |
sc’s INFO.
================
guoteng science & technology development co., ltd.
6/f, three dimension & technology building, no. 184
bailian road jida, zhuhai city, guangdong PROVINCE 519015 PR CHINA
TEL: 86 (0) 756-3883988/3883962
FAX: 86 (0) 756-3883938
EXECUTIVE SUMMARY
Date of Registration :
december 8, 2003
REGISTRATION NO. :
440400000098178
LEGAL FORM :
Limited liabilities company
CHIEF EXECUTIVE :
wang xinliang (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 12,080,000
staff :
96
BUSINESS CATEGORY : manufacturing & TRADING
Revenue :
CNY 19,220,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 27,590,000 (AS OF DEC. 31, 2010)
WEBSITE :
www.guoteng.gd.cn
E-MAIL :
sales@guoteng.gd.cn
PAYMENT :
AVERAGE
Recommended Credit Limit :
UP TO USD 100,000 (PERIODICAL REVIEW)
MARKET CONDITION :
average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : ordinary
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 limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 440400000098178 on
December 8, 2003.
SC’s Organization Code Certificate No.: 75649233-2
SC’s registered capital: CNY 12,080,000
SC’s paid-in capital: CNY 12,080,000
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 |
|
Wang Xinliang |
10 |
|
Sun Chunxiu |
48 |
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Other individuals |
42 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and General Manager |
Wang Xinliang |
|
Supervisor |
Sun Chunxiu |
RECENT DEVELOPMENT
Obtaining ISO9001:2000 Quality Assurance certification &
ISO13485:2003 Quality Assurance certification.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Wang Xinliang 10
Sun Chunxiu 48
Other individual 42
MANAGEMENT
Wang Xinliang, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
From 2003 to present, working in SC as legal representative, chairman
and general manager
Sun Chunxiu, Supervisor
--------------------------------------------
Gender: F
BUSINESS OPERATION
SC’s registered business scope includes manufacturing III items, such as
6821 medical electronic equipment, 6825 medical high-frequency equipment, 6823
medical ultrasonic instruments and related equipment; II items, such as 6858
medical cold treatment, cryogenic, refrigeration equipment and apparatus;
wholesaling and retailing III or II items of medical electronic instrument,
medical optical equipment, instruments and endoscopic equipment, medical
ultrasound machines and related equipment, clinical laboratory analytical
instruments, operating room, emergency room, clinic equipment & apparatus,
medical cold treatment, cryogenic, refrigeration equipment and apparatus,
software; developing and selling its products; manufacturing and selling
instruments & meters, and computer components; network engineering; system
Integration; computer software development, computer & components
development, and related technology service and wholesales; imaging equipment,
computers & accessories, and electronic components.
SC is mainly engaged in manufacturing and selling medical equipment.
SC’s products mainly include:
Patient Monitor
Fetal Monitor
Fetal & Maternal Monitor
Center Monitoring System
Pulse Oximeter
Electrosurgical Unit
SC sources its materials 100% from domestic market. SC sells 70% of its products
in domestic market, and 30% to the overseas market, mainly Southeast Asia.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 96 staff at present.
SC rents an area as its operating office and factory of approx. 3,000
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
Basic Bank:
Industrial and Commercial Bank of China Zhuhai Jilian Sub-branch
AC#: 2002022219100013457
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
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6,790 |
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Accounts receivable |
820 |
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Advances to suppliers |
0 |
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Other receivable |
610 |
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Inventory |
12,710 |
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Prepaid expenses |
0 |
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Other current assets |
950 |
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------------------ |
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Current assets |
21,880 |
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Fixed assets |
4,450 |
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Construction in progress |
0 |
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Intangible assets |
0 |
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Deferred income tax assets |
0 |
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Other non-current assets |
6,090 |
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------------------ |
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Total assets |
32,420 |
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============= |
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Short-term loans |
10 |
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Notes payable |
0 |
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Accounts payable |
1,100 |
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Wages payable |
0 |
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Taxes payable |
0 |
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Advances from clients |
0 |
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Other payable |
230 |
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Other current liabilities |
2,980 |
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------------------ |
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Current liabilities |
4,320 |
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Non-current liabilities |
510 |
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------------------ |
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Total liabilities |
4,830 |
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Equities |
27,590 |
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------------------ |
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Total liabilities & equities |
32,420 |
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Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
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Revenue |
19,220 |
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Cost of sales |
8,710 |
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Sales expense |
5,530 |
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Management expense |
5,140 |
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Finance expense |
-40 |
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Profit before tax |
140 |
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Less: profit tax |
0 |
|
140 |
Important Ratios
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As
of Dec. 31, 2010 |
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*Current ratio |
5.06 |
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*Quick ratio |
2.12 |
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*Liabilities to assets |
0.15 |
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*Net profit margin (%) |
0.73 |
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*Return on total assets (%) |
0.43 |
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*Inventory / Revenue ×365 |
242 days |
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*Accounts receivable/ Revenue ×365 |
16 days |
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* Revenue/Total assets |
0.59 |
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* Cost of sales / Revenue |
0.45 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is low, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a fairly good level.
SC’s quick ratio is maintained in a fairly good level.
The inventory of SC appears large.
The accounts receivable of SC is maintained in an average level.
The short-term loans of SC appear average.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is low.
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. The large amount of inventory may be a threat to SC’s financial
condition. A credit line up to USD 100,000 is recommended upon a periodical
review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.29 |
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|
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.67 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<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.