MIRA
INFORM REPORT
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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU
LISHENG MEDICINE CO., LTD. |
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Registered Office : |
No. 16 Gaoxin 4 Road, Songtiao High-Tech Zone, Economic
& Technological Development District, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.03.2007 |
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Com. Reg. No.: |
320791000017969 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in selling pharmaceutical products and medical
devices. |
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No. of Employees : |
15 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
JIANGSU LISHENG
MEDICINE CO., LTD.
NO. 16 GAOXIN 4 ROAD, SONGTIAO HIGH-TECH ZONE, ECONOMIC & TECHNOLOGICAL DEVELOPMENT DISTRICT, LIANYUNGANG, JIANGSU PROVINCE 222000 PR CHINA
TEL: 86 (0) 518-85155598/85805353/85813232 FAX: 86 (0) 518-85155151
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 1, 2007
REGISTRATION NO. :
320791000017969
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
STAFF STRENGTH :
15
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 9,150,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 2,710,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.32=USD
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 fax number “86-518
SC is also known as Jiangsu Lisheng
Pharmaceutical Co., Ltd.
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 Mar. 1, 2007.
Company Status: Limited
Liability Company 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 wholesaling Chinese medicine,
chemical medicine preparation, chemical raw materials, antibiotics, biochemical
medicines, biological products; selling II and III medical devices (6815
injection puncture devices, the 6823 medical ultrasound machines and related
equipment, the 6830 medical X-ray equipment, the 6833 medical radionuclide
equipment, 6854 operating room, emergency room, exam room equipment and
apparatus, 6864 medical materials and accessories, 6865 medical suture
materials and adhesives, the 6866 medical polymer materials and products);
selling chemical reagents, chemical products, chemical raw materials,
pharmaceutical intermediates; import and export of various goods and
technology, excluding the goods and technology prohibited or limited by the
country.
SC is
mainly engaged in selling pharmaceutical products and medical devices.
Mr.
Zou Guannan is the legal representative and chairman of SC at present.
SC is
known to have approx. 15 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the development zone of Lianyungang. The detailed premise
information is unknown.
http://www.jslsyy.com/ The design
is professional and the content is well organized. At present the web site is
in Chinese version.
Email: zhouleye@126.com ; huajimh@yahoo.com.cn
Changes of its registered
information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2012 |
Registered capital |
CNY
3,000,000 |
Present amount |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Rui 49
Zou Guannan 51
l
Legal representative and Chairman:
Mr. Zou Guannan, born in 1981, he is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative and chairman
l
General manager:
Mr. Wang Rui, born in 1981, he is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager
l
Supervisor:
Chen Bingyi
l
Directors:
Wang Rui
Zou Heping
SC is
mainly engaged in selling pharmaceutical products and medical devices.
SC’s products mainly include: bulk drugs, new drugs, medical devices, etc.
SC
sources its products 80% from domestic market, and 20% from overseas market. SC
sells 100% of its products in domestic market.
The buying terms of SC include Check, T/T, L/C, and Credit
of 30-60 days. The payment terms of SC include T/T, Check and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
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 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.
SC’s management
declined to release its banking information.
Financial Summary
Unit: CNY’000
|
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as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
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Total Liabilities |
10,110 |
6,260 |
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Shareholders equities |
2,480 |
2,710 |
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Total Assets |
12,590 |
8,970 |
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Turnover |
/ |
9,150 |
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Profit before tax |
/ |
230 |
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Net profit |
/ |
230 |
Note: we did not find SC’s detailed
financial reports for Yr2010 & 2011.
Important
Ratios
=============
|
|
as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
|
*Liabilities
to assets |
0.80 |
0.70 |
|
*Net profit
margin (%) |
/ |
2.51 |
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*Return on
total assets (%) |
/ |
2.56 |
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*Turnover/Total
assets |
/ |
1.02 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line in
2011.
l
SC’s net profit margin is average in 2011.
l
SC’s return on total assets is average in 2011.
l
SC’s turnover is in an average level in 2011,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average in 2011.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered small-sized in its line with fairly stable financial conditions.
The given credit amount would appear to be beyond SC’s capacities, while a
credit line up to USD 20,000 is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
|
|
1 |
Rs.88.14 |
|
Euro |
1 |
Rs.70.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.