MIRA INFORM REPORT
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Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI MULTI-MED UNION CO., LTD. |
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Registered Office : |
Room 2018, No. 1958, Zhongshan
North Road, Putuo District, Shanghai,
200063 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.06.2007 |
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Com. Reg. No.: |
310107000503200 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Subject engaged in
international trade. |
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No. of Employees : |
18 |
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 : |
Satisfactory |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 & address
SHANGHAI MULTI-MED UNION CO., LTD.
ROOM
2018, NO. 1958, ZHONGSHAN NORTH ROAD,
PUTUO DISTRICT, SHANGHAI, 200063 PR CHINA
TEL: 86
(0) 21-52916674-828 FAX: 86 (0)
21-62050175
EXECUTIVE SUMMARY
INCORPORATION DATE : JUN. 6, 2007
REGISTRATION NO. : 310107000503200
REGISTERED LEGAL FORM : ONE-PERSON LIMITED
LIABILITY COMPANY
STAFF STRENGTH : 18
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
INTERNATIONAL TRADE
TURNOVER : CNY 277,000,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 14,940,000 (AS OF
DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.2212 = USD 1
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a one-person
limited liability company at local Administration for Industry & Commerce
(AIC - The official body of issuing and renewing business license) on Jun. 6,
2007.
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person LLC has no shareholder
meeting.
SC’s registered
business scope includes importing and exporting goods and technologies; selling
medical instrument (with permit), chemical products (excluding dangerous
chemicals, monitoring chemicals, fireworks, civilian explosives and precursor
chemicals), textiles, electromechanical products and related technology
consulting service; selling and managing foods (non-physical way); technology
developing, transiting, consulting and service of biology technology (excluding
special) and computer; selling computer software and hardware (excluding
computer information system security products), communication equipment
(excluding satellite television ground receiving facilities), measuring
instruments, electronic products and parts, ceramics and daily used goods.
(with permit if needed).
SC is mainly
engaged in international trade.
Mr. Zhao Chunsheng
has been legal representative and chairman of SC
since 2007.
SC is
known to have approx. 18 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in the commercial zone of
Shanghai. Our checks reveal that SC rents the total premise about 200 square
meters.
http://www.multi-med.com.cn The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: info@multi-med.cn
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Medical
Instruments (Group) Corp., Ltd. 100
Shanghai Medical Instruments
Industry Corporation (Group) is the predecessor of Shanghai Medical Instruments
(Group) Corp., Ltd., which is with more than 60 years’ historical. From the
previous state owned limited liability company to owned two dollars of
investment limited liability company, until today's central rate holding Group
Co., Ltd., various strategic restructuring, the development and expansion of
the company has laid a solid foundation. At present, SMIC is currently one of
the largest medical manufacturing groups. SMIC is with a series of advantages,
which are production, sale, research, and after-sales and so on.
Incorporation date: Mar. 14,
1991
Registration no.:
310000000006412
Registered capital: CNY
125,000,000
Legal rep.: Zhao Chunsheng
Legal form: One-person Limited
Liability Company
Add: Room 251, No. 215, Middle
Jiangxi Road, Shanghai
Tel: 86 021-63233028
Fax: 86 021-63233028
l
Legal representative and chairman:
Mr. Zhao Chunsheng, about 44 years old, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2007 to present Working in SC as
chairman and legal representative.
Also working in Shanghai Medical Instruments (Group) Corp., Ltd. as legal
representative.
l
General Manager:
Mr. Sun Jiajun (孙家俊),
about 50 years old, with university education. He is currently responsible for
the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
SC is mainly
engaged in international trade.
SC’s products
mainly include
Hospital Equipments
Suction Unit
Operation Shadowless Lamp
Operation Table
Wheel Chair
Anesthetic Machine
X-ray Tube
Surgical Instruments
Scalpel
Scissors
General surgical instrument
Plastic surgical instrument
Diagnostic Instruments
Palmsize Ultrasound Scanner
Digital Thermometer
Stethoscope
Blood Pressure Monitor
Sphygmomanometer
X-Ray Observation Lamp
Endoscope
Slit Lamp
Laboratory Products
Centrifuge
Microscope
Slide Glass
Cover Glass
Dental Products
Dental Chair
Porcelain Teeth
Surgical Dressings
Bandages
Gauze Swabs
Pharmaceutical Machinery
SC sources its materials 100%
from domestic market. SC sells 100% of its products to overseas market, mainly
India and Europe.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, L/C and Credit of 30-60
days.
Note: SC’s management declined to release its main clients
and suppliers.
According to the website: http://www.chinasmic.com
Shanghai
Medical Equipment Works Co., Ltd.
=================================
Incorporation date: June 30, 1981
Registration no.: 310110000001227
Registered capital: CNY 76,011,400
Legal rep.: Chen Yaokang
Legal form: One-person Limited Liability
Company
Web: http://www.smew.cn
Add: No. 430, Linqing Road, Yangpu District,
Shanghai
Tel: 86 021-65430919
Shanghai
Huaxian Medical Nuclear Instrument Co., Ltd.
=========================================
Incorporation date: June 13, 2001
Registration no.: 310112000311074
Registered capital: CNY 41,353,047
Legal rep.: Xu Jifeng
Legal form: Limited Liabilities Company
Shanghai
Huachen Medical Instruments Co., Ltd.
=====================================
Incorporation date: June 11, 2001
Registration no.: 310110000233862
Registered capital: CNY 31,780,000
Legal rep.: Xu Jifeng
Legal form: Limited Liabilities Company
Shanghai Medical Instruments (Group) Corp., Ltd. Surgical Instruments
Factory
=========================================================
Incorporation date: Oct. 14, 1996
Registration no.: 310109000173986
Principal: Yuan Jiawei
Etc.
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.
Bank of China Shanghai Branch Kangding Sub-branch
AC#：445559253489
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
|
Cash & bank |
6,370 |
2,060 |
|
Inventory |
21,660 |
29,820 |
|
Accounts
receivable |
2,540 |
13,180 |
|
Advances to
suppliers |
47,520 |
48,340 |
|
Other receivables |
1,620 |
1,260 |
|
Other current
assets |
4,630 |
5,160 |
|
|
------------------ |
------------------ |
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Current assets |
84,340 |
99,820 |
|
Fixed assets net
value |
250 |
180 |
|
Long term
investment |
0 |
0 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total assets |
84,590 |
100,000 |
|
|
============= |
============= |
|
Short loans |
4,500 |
0 |
|
Accounts payable |
17,180 |
16,180 |
|
Other payable |
2,550 |
330 |
|
Taxes payable |
0 |
70 |
|
Employee payable |
520 |
720 |
|
Dividends
payable |
0 |
1,040 |
|
Advances from
clients |
45,590 |
66,720 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
70,340 |
85,060 |
|
Long term
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
70,340 |
85,060 |
|
Equities |
14,250 |
14,940 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
84,590 |
100,000 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2010 |
as of Dec. 31,
2011 |
|
Turnover |
233,530 |
277,000 |
|
Cost of goods sold |
209,490 |
255,290 |
|
Taxes and additional of main
operation |
/ |
80 |
|
Sales expense |
16,820 |
14,800 |
|
Management expense |
4,320 |
4,030 |
|
Finance expense |
580 |
420 |
|
Profit before
tax |
2,330 |
2,380 |
|
Less: profit tax |
590 |
640 |
|
Profits |
1,740 |
1,740 |
Important Ratios
=============
|
|
as
of Dec. 31, 2010 |
as
of Dec. 31, 2011 |
|
*Current ratio |
1.20 |
1.17 |
|
*Quick ratio |
0.89 |
0.82 |
|
*Liabilities
to assets |
0.83 |
0.85 |
|
*Net profit
margin (%) |
0.75 |
0.63 |
|
*Return on
total assets (%) |
2.06 |
1.74 |
|
*Inventory
/Turnover ×365 |
34 days |
40 days |
|
*Accounts
receivable/Turnover ×365 |
4 days |
18 days |
|
*Turnover/Total
assets |
2.76 |
2.77 |
|
* Cost of
goods sold/Turnover |
0.90 |
0.92 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line,
and it increased in 2011.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
l
SC’s cost of goods sold is fairly high in both
years, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears average in both years.
l
The account receivable of SC is average in both
years.
l
SC has no short-term loan in 2011.
l
SC’s turnover is in an average level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in both years.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.