MIRA INFORM REPORT
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Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI ARCADIA BIOTECHNOLOGY CO., Ltd. |
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Registered Office : |
Suite 901, Building Wensli,
No. 1378 Lujiabang Road,Huangpu District, Shanghai, 200011 PR |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
14.04.2011 |
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Com. Reg. No.: |
310109000553516 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject mainly
engaged in selling chemical products and intermediates. |
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No. of Employees : |
10 |
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 : |
Unknown |
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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,
2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
Since the late 1970s
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Source : CIA |
COMPANY NAME & ADDRESS
SHANGHAI ARCADIA BIOTECHNOLOGY CO., Ltd.
huangpu
district,
TEL: 86
(0) 21-61353236/13701650753 FAX: 86 (0)
21-61353239
EXECUTIVE SUMMARY
INCORPORATION DATE : April 14, 2011
REGISTRATION NO. :
310109000553516
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 10
REGISTERED CAPITAL :
CNY 1,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 4,580,000 (AS OF
DECEMBER 31, 2012)
EQUITIES : CNY 260,000 (AS OF
DECEMBER 31, 2012)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.0945 = USD 1
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY -
Note: the
given name (Aviva Pharmaceuticals Ltd.) belongs to SC’s related company in
U.S.A., while SC is operating in the heading address.
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 April 14, 2011.
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 scope includes technological development, transfer, consultant, and
services in the field of biotechnology, importing and exporting goods and technologies,
enterprises management consultant, investment consultant, commercial
consultant; wholesale chemical products; selling art crafts, instruments &
meters, articles of daily use, cosmetics. (with permit if needed)
SC is mainly
engaged in selling chemical products and intermediates.
Mr.
Yuan Xichen is legal representative, chairman and general manager of SC at
present.
SC is
known to have approx. 10 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, but the gross area is
unspecified.
www.arcadiachem.com
The design
is professional and the content is well organized. At present it is in English
version.
E-mail: info@arcadiachem.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
In the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yuan Xichen 70
Chen Xianyan 30
l Legal
representative, Chairman and General manager:
Mr. Yuan Xichen is currently responsible for
the overall management of SC.
Working
Experience(s):
At present Working in SC as legal
representative, chairman and general manager.
SC is mainly
engaged in selling chemical products and intermediates.
SC’s products mainly
include: abacavir sulfate, abiraterone, acyclovir, amiodarone hydrochloride,
diosmin, olmesartan medoxomil, generic pharmaceutical intermediate,
amisulpride, asenapine maleate, bezafibrate, etc.
SC sources its materials 100%
from domestic market. SC sells 20% of its products in domestic market, and 80%
to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note: SC’s management declined to release its customer and supplier
details.
Aviva
Pharmaceuticals Ltd. (
Web:
www.avivapharma.com
Email:
info@avivapharma.com
Add.:
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 bank details.
Balance Sheet
Unit: CNY’000
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as of Dec. 31, 2012 |
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Cash & bank |
380 |
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Inventory |
410 |
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Accounts
receivable |
10 |
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Short-term
investment |
0 |
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Advances to
suppliers |
0 |
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Notes receivable |
0 |
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Other
receivables |
-80 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
720 |
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Fixed assets net
value |
250 |
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Long term
investment |
0 |
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Projects under
construction |
0 |
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Intangible
assets |
0 |
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Long-term
deferred expenses |
0 |
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Deferred assets |
0 |
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Total assets |
970 |
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============= |
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Short loans |
0 |
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Notes payable |
0 |
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Accounts payable |
30 |
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Advances from
clients |
0 |
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Accrued payroll |
0 |
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Welfares payable |
0 |
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Taxes payable |
-30 |
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Other accounts
payable |
710 |
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Other current liabilities |
0 |
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------------------ |
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Current
liabilities |
710 |
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Long term
liabilities |
0 |
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Total
liabilities |
710 |
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Equities |
260 |
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------------------ |
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Total
liabilities & equities |
970 |
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============= |
Income Statement
Unit: CNY’000
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as of Dec. 31,
2012 |
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Turnover |
4,580 |
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Cost of goods
sold |
3,320 |
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Taxes and
additional of main operation |
10 |
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Sales expense |
1,470 |
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Management expense |
0 |
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Finance expense |
0 |
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Profit before
tax |
-220 |
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Less: profit tax |
0 |
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Profits |
-220 |
Important Ratios
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as
of Dec. 31, 2012 |
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*Current ratio |
1.01 |
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*Quick ratio |
0.44 |
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*Liabilities to
assets |
0.73 |
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*Net profit
margin (%) |
-4.8 |
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*Return on
total assets (%) |
-22.68 |
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*Inventory
/Turnover ×365 |
33 days |
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*Accounts
receivable/Turnover ×365 |
1 day |
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*Turnover/Total
assets |
4.72 |
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* Cost of
goods sold/Turnover |
0.72 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is poor.
l
SC’s cost of goods sold is average, comparing with
its turnover.
LIQUIDITY: FAIR
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The current ratio of SC is normal.
l
SC’s quick ratio is fair.
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SC’s inventory is average in 2012.
l
SC’s account receivable is small in
2012.
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SC has no short loan in 2012.
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SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: AVERAGE
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The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair
SC is considered small-sized in its line with fair financial conditions.
Taking into consideration of SC’s general performance and development history,
we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.61.41 |
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1 |
Rs.98.28 |
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Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)