MIRA
INFORM REPORT
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Report Date : |
28.05.2012 |
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 : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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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) |
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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,
CHAOYANG
DISTRICT,
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 6.82770= USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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. |
|
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 Dongdong 27% |
MAIN SHAREHOLDERS:
Name % of Shareholding
Liu Baoquan 41
Xuan Niandong 32
Cui Dongdong 27
Legal
representative and chairman:
Mr.
Working Experience(s):
From 2007 to present Working in SC as legal
representative and chairman.
General manager:
Mr.
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
AC#:
20109436610
Relationship:
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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------------------ |
------------------ |
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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 |
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
l
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.
l
The accounts receivable of SC appears
average in 2007 and 2008.
l
SC has no short-term loan in 2007 and
2008.
l
SC’s turnover is in a fairly good
level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is low in 2007 and
average in 2008.
l
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.73 |
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UK Pound |
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.