MIRA INFORM REPORT
|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAANXI TOP PHARM CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
Room 11704, Zizhu Building, No. 108
Nanerhuan, Yanta District Xi’an,
Shaanxi Province 710065 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.11.2007 |
|
|
|
|
Com. Reg. No.: |
610000100041547 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
selling Chinese herbal medicine raw materials,
chemical products and raw materials |
|
|
|
|
No. of Employees
: |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 20,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
shaanxi top pharm chemical co., ltd.
room 11704, zizhu
building, no. 108 nanerhuan, yanta district
xi’an, shAanxi
PROVINCE 710065 PR CHINA
TEL: 86 (0)
29-85733402
FAX: 86 (0)
29-85733405
EXECUTIVE SUMMARY
Date of Registration : november 27, 2007
REGISTRATION NO. : 610000100041547
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 3,000,000
staff : 10
BUSINESS CATEGORY :
trading
Revenue : CNY 2,920,000 (AS OF
DEC. 31, 2011)
EQUITIES : CNY 2,650,000 (AS OF
DEC. 31, 2011)
WEBSITE : www.top-pharmchem.com
E-MAIL :
admin1@top-pharmchem.com
PAYMENT : AVERAGE
Recommended Credit Limit: UP TO USD
20,000
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.30 = 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.: 610000100041547 on November
27, 2007.
SC’s Organization Code Certificate
No.: 66797750-6
SC’s registered capital: cny 3,000,000
SC’s paid-in capital: cny 3,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
2011-11 |
Legal Representative |
Gao Xiangyang |
Zhang Ni |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Gao Xiangyang |
90 |
|
Zhang Ni |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhang Ni |
|
Director |
Gao
Xiangyang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Gao Xiangyang 90
Zhang Ni 10
MANAGEMENT
Zhang Ni, Legal Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Qualification:
University
Ø
Working
experience (s):
From 2007 to present, working in SC as legal representative, chairman and general manager
Gao
Xiangyang, Director
---------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
BUSINESS OPERATION
SC’s registered business scope includes selling Chinese
herbal medicine raw materials, chemical products and raw materials, consulting
service; R&D and technical consulting of natural plant resources,
biological products, pharmaceutical intermediates; operating and acting as an
agent of importing and exporting various kinds of commodities and technology.
SC is
mainly engaged in selling Chinese herbal medicine raw materials, chemical
products and raw materials.
SC’s
products mainly include:
Plant
Extract and Monomer
Raw
Material Drug and Intermediate
Food
and Feed Additive
SC sources its materials 100% from domestic
market, mainly Shaanxi. SC sells 30% of its products in domestic market, and
70% to overseas market, mainly USA, Southeast Asia, etc.
The
buying terms of SC include 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. 10
staff at present.
SC rents an area
as its operating office, 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
Basic Bank:
Bank
of China Xi’an Sub-branch
AC#:
302854685108091001
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
|
3,290 |
|
|
Accounts
receivable |
210 |
|
Advances to
suppliers |
0 |
|
Other receivable |
90 |
|
Inventory |
30 |
|
Non-current
assets within one year |
0 |
|
Other current
assets |
80 |
|
|
------------------ |
|
Current assets |
3,700 |
|
Fixed assets |
10 |
|
Construction in
progress |
0 |
|
Intangible
assets |
0 |
|
Long-term
prepaid expenses |
0 |
|
Deferred income
tax assets |
0 |
|
Other
non-current assets |
0 |
|
|
------------------ |
|
Total assets |
3,710 |
|
|
============= |
|
Short-term loans |
0 |
|
Notes payable |
0 |
|
Accounts payable |
200 |
|
Wages payable |
0 |
|
Advances from
clients |
0 |
|
Other payable |
790 |
|
Other current
liabilities |
70 |
|
|
------------------ |
|
Current
liabilities |
1,060 |
|
Non-current
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
1,060 |
|
Equities |
2,650 |
|
|
------------------ |
|
Total
liabilities & equities |
3,710 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
|
Revenue |
2,920 |
|
Cost of sales |
2,440 |
|
Sales expense |
210 |
|
Management expense |
360 |
|
Finance expense |
0 |
|
Profit before
tax |
-83 |
|
Less: profit tax |
1 |
|
-84 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
|
*Current ratio |
3.49 |
|
*Quick ratio |
3.46 |
|
*Liabilities
to assets |
0.29 |
|
*Net profit
margin (%) |
-2.88 |
|
*Return on
total assets (%) |
-2.26 |
|
*Inventory /
Revenue ×365 |
4 days |
|
*Accounts
receivable/ Revenue ×365 |
27 days |
|
*
Revenue/Total assets |
0.79 |
|
* Cost of
sales / Revenue |
0.84 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fair in its line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
l
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
FAIRLY GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
SC has no short-term loan in 2011.
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is above 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 20,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
UK Pound |
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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 |
|
---- |
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.