MIRA
INFORM REPORT
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Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
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Name : |
BEIJING LUNARSUN PHARMACEUTICAL co., ltd. |
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Registered Office : |
Room 1-C1-802, |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
03.03.2006 |
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Com. Reg. No.: |
110105009375779 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Selling Active Pharmaceutical Ingredients (API). |
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No. of Employees : |
25 |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
BEIJING LUNARSUN PHARMACEUTICAL co., ltd.
ROOM 1-C1-802,
YANGGUANG PLAZA, NO.68 ANLI ROAD,
CHAOYANG DISTRICT,
BEIJING 100101 PR CHINA
TEL: 86 (0) 10-80771377
FAX: 86 (0) 10-64946614
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 3, 2006
REGISTRATION NO. : 110105009375779
REGISTERED LEGAL FORM : Limited LiabilitIES
Company
STAFF STRENGTH :
25
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 69,526,000 (AS OF DEC. 31, 2008)
EQUITIES :
CNY 4,570,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37= USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Ren Min Bi Yuan
SC was registered as a limited liabilities co. at local Administration for Industry &
Commerce (AIC - The official body of issuing and renewing business license) on
Mar. 3, 2006.
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 scopes include technology promotion service; selling chemical products
(excluding hazardous chemicals); importing and exporting commodities and
technology.
SC is mainly
engaged in selling Active Pharmaceutical Ingredients (API).
Mr.
Xuan Niandong ( has been legal representative and chairman of SC since 2007.
SC is known
to have approx. 25 employees at present
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Beijing. The detailed information of
the area is unspecified.
http://www.lunarsun.com.cn
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: sales@lunarsun.com.cn
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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Company name |
Beijing Lunarsun Technology Co., Ltd. |
Beijing Lunarsun Pharmaceutical Co., Ltd. |
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Legal representative |
Zhang Weiping |
Xuan Niandong |
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Shareholdings |
Zhang Weiping 80% Wang Yu 20% |
Liu Baoquan 41% Xuan Niandong 32% Chen Yongbi 27% |
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Shareholdings |
Liu Baoquan 41% Xuan Niandong 32% Chen Yongbi 27% |
Liu Baoquan 41% Xuan Niandong 32% Cui Dongdong27% |
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MAIN SHAREHOLDERS:
Name % of Shareholding
Liu Baoquan 41
Xuan Niandong 32
Cui Dongdong 27
l
Legal representative and chairman:
Mr. Xuan Niandong , ID# 372422197612210015, born in 1976, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working in SC as legal
representative and chairman.
l
General manager:
Mr. Liu Baoquan , ID# 120107197204284535,
born in 1972, with university education. He is currently responsible for the
daily management of SC.
Working Experience(s):
From 2007 to present Working in SC as general manager.
Supervisor:
========
Mr. Cui Dongdong , ID# 23030219731129563X
SC is mainly
engaged in selling Active Pharmaceutical Ingredients (API).
SC’s products
mainly include: API, pharmaceutical intermediates, basic chemicals,
formulation.
SC sources its
materials 90% from domestic market, and 10% from overseas market. SC sells 50%
of its products in domestic market, and 50% to overseas market.
The buying terms of SC include T/T, L/C and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
SC
is not known to have any subsidiary at present.
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 refused to release any information of
its suppliers and the trade reference was not available.
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.
Bank of Beijing
Hongxing Sub-branch
AC#：20109436610
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2007 |
as
of Dec. 31, 2008 |
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Cash & bank |
623 |
3,558 |
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Bills receivable |
0 |
640 |
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Accounts
receivable |
1,786 |
1,456 |
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Advances to
suppliers |
4,014 |
861 |
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Other Accounts
receivable |
73 |
79 |
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Inventory |
79 |
1,230 |
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Prepaid expenses |
22 |
386 |
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Other current
assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
6,597 |
8,210 |
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Fixed assets net
value |
710 |
983 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
7,307 |
9,193 |
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============= |
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Short loans |
0 |
0 |
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Bills payable |
0 |
0 |
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Accounts payable |
1,167 |
2,039 |
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Advances from
clients |
1,498 |
2,474 |
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Salaries payable |
0 |
0 |
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Welfares payable |
1 |
8 |
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Taxes payable |
138 |
8 |
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Other Accounts
payable |
12 |
10 |
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Other unpayable |
4 |
2 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
2,820 |
4,541 |
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Deferred tax
credits |
0 |
82 |
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Long term liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
2,820 |
4,623 |
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Equities |
4,487 |
4,570 |
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Total
liabilities & equities |
7,307 |
9,193 |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2007 |
as of Dec. 31,
2008 |
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Turnover |
29,732 |
69,526 |
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Cost of goods
sold |
26,762 |
65,230 |
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Sales expense |
1,860 |
1,190 |
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Management expense |
1,993 |
2,955 |
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Finance expense |
-4 |
3 |
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Profit before
tax |
-432 |
103 |
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Less: profit tax |
4 |
21 |
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Profits |
-436 |
82 |
Note: SC has not lodged the latest annual returns in local registry, hence
no up-to date detailed financial information available.
Important Ratios
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As
of Dec. 31, 2007 |
As
of Dec. 31, 2008 |
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*Current ratio |
2.34 |
1.81 |
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*Quick ratio |
2.31 |
1.54 |
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*Liabilities
to assets |
0.39 |
0.50 |
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*Net profit
margin (%) |
-1.47 |
0.12 |
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*Return on
total assets (%) |
-5.97 |
0.89 |
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*Inventory
/Turnover ×365 |
1 day |
6 days |
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*Accounts
receivable/Turnover ×365 |
22 days |
8 days |
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*Turnover/Total
assets |
4.07 |
7.56 |
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* Cost of goods
sold/Turnover |
0.90 |
0.94 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line, and
it increased in 2008.
l
SC’s net profit margin is fair in 2007, but average
in 2008.
l
SC’s return on total assets is fair in 2007, but
average in 2008.
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 fairly
good level in 2007, and normal in 2008
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SC’s quick ratio is maintained in a fairly good
level in 2007 and 2008.
l
The inventory of SC appears average in 2007 and
2008.
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The accounts receivable of SC appears average in
2007 and 2008.
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SC has no short-term loan in 2007 and 2008.
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SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
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The debt ratio of SC is low in 2007 and average in
2008.
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The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: stable.
SC is considered small-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.36 |
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|
1 |
Rs.85.95 |
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Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.