MIRA
INFORM REPORT
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Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI YOUTELL BIOCHEMICAL CO., LTD. |
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Registered Office : |
Suite 302, Building 7, No. 526 Ruiqing Road, Zhangjiang High-
Tech Park, Pudong New Area, Shanghai 201201 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.04.2009 |
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Com. Reg. No.: |
310115001122047 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Selling Enzyme Products |
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No. of Employees : |
16 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.
Source
: CIA
Company name and address
SHANGHAI YOUTELL BIOCHEMICAL CO., LTD.
SUITE 302, BUILDING 7, NO. 526 RUIQING ROAD, ZHANGJIANG
HIGH- TECH PARK, PUDONG NEW AREA, SHANGHAI 201201 PR CHINA
TEL: 86 (0) 21-50720506
FAX: 86 (0) 21-50720507
EXECUTIVE SUMMARY
Date of Registration : april 14, 2009
REGISTRATION NO. : 310115001122047
LEGAL FORM : One-person Limited Liability Company
REGISTERED CAPITAL : CNY 10,000,000
staff :
16
BUSINESS CATEGORY : TRADING
Revenue :
CNY 16,330,000 (AS OF DEC. 31,
2012)
EQUITIES :
CNY 5,640,000 (AS OF DEC. 31, 2012)
WEBSITE : www.youtellbio.com
E-MAIL :
youtell@youtellbio.com
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.21 = 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 one-person limited liabilities company of PRC with State Administration of
Industry & Commerce (SAIC) under registration No.: 310115001122047 on April
14, 2009.
SC’s Organization Code Certificate No.:
68736690-5
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2012-5 |
Registered Capital |
CNY 1,000,000 |
CNY 10,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Hunan Youtell Biochemical Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Li Xinliang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Hunan Youtell Biochemical Co., Ltd. 100
---------------------------------
Date of Registration: November 24, 2000
Registration No.: 43060040000575
Legal Form: Chinese-foreign equity
joint venture enterprise
Registered Capital: CNY 22,220,000
MANAGEMENT
Li Xinliang , Legal Representative, Chairman and General
Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
From 2009 to present, working in SC as legal representative,
chairman and general manager
Also working in Hunan Youtell Biochemical Co., Ltd. as legal
representative
BUSINESS OPERATION
SC’s registered business scope includes R&D and
selling new and efficient enzyme preparations and food additives, biochemical
products, importing and exporting goods and technology.
SC is mainly
engaged in selling enzyme products.
SC’s products
mainly include:
Neutral Cellulase
UTA-55
Liquid Compound
Enzyme FE
A-Amylase UTC10000
Thermostable
a-Amylase UTC-H20
Etc.
SC sources its materials 100% from domestic market, mainly Hunan and Shandong. SC sells 70% of its products in domestic market, and 30% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
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.
*Major Customer:
=============
Youtell
Biochemical Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 16 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Shandong Youtell Biochemical Co., Ltd.
---------------------------------------
Registration
No.: 370883200011630
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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
|
1,850 |
|
|
Notes receivable |
0 |
|
Accounts
receivable |
2,150 |
|
Advances to
suppliers |
0 |
|
Other receivable |
690 |
|
Inventory |
1,800 |
|
Non-current
assets within one year |
0 |
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Other current
assets |
340 |
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|
------------------ |
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Current assets |
6,830 |
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Fixed assets |
1,180 |
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Long-term
prepaid expenses |
0 |
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Deferred income
tax assets |
0 |
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Other
non-current assets |
0 |
|
|
------------------ |
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Total assets |
8,010 |
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|
============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
1,780 |
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Advances from
clients |
920 |
|
Other payable |
-330 |
|
Other current
liabilities |
0 |
|
|
------------------ |
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Current
liabilities |
2,370 |
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Non-current
liabilities |
0 |
|
|
------------------ |
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Total
liabilities |
2,370 |
|
Equities |
5,640 |
|
|
------------------ |
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Total
liabilities & equities |
8,010 |
|
|
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2012 |
|
Revenue |
16,330 |
|
Cost of sales |
11,810 |
|
Sales expense |
1,960 |
|
Management expense |
2,330 |
|
Finance expense |
80 |
|
Profit before
tax |
180 |
|
Less: profit tax |
0 |
|
180 |
Important Ratios
=============
|
|
As
of Dec. 31, 2012 |
|
*Current ratio |
2.88 |
|
*Quick ratio |
2.12 |
|
*Liabilities to
assets |
0.30 |
|
*Net profit
margin (%) |
1.10 |
|
*Return on
total assets (%) |
2.25 |
|
*Inventory /
Revenue ×365 |
41 days |
|
*Accounts
receivable/ Revenue ×365 |
49 days |
|
*
Revenue/Total assets |
2.04 |
|
* Cost of
sales / Revenue |
0.72 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
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 loans.
l
SC’s revenue is in an average 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.