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Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
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Name : |
Sannyhealth
International Development Inc. |
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Registered Office : |
RM. 708, Chuangzhan Building, No. 283, Jiefang South Road, Hexi
District, Tianjin City, 300042 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.07.2005 |
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Com. Reg. No.: |
120103000060948 |
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Legal Form : |
Limited Liabilities Co |
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Line of Business : |
Engaged in
wholesaling and retailing textiles and machinery electrical equipment
(excluding cars); technical development and transfer of natural health
products; importing and exporting commodities and technologies |
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No of Employees : |
6 |
RATING & COMMENTS
|
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 : |
Slow |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 2012 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 under 8% for 2012. An economic slowdown in Europe
contributed to China's, and is expected to further drag Chinese growth in 2013.
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 |
Sannyhealth International Development Inc.
RM. 708, CHUANGZHAN BUILDING, NO. 283, JIEFANG SOUTH ROAD,
HEXI DISTRICT, TIANJIN CITY, 300042 PR
CHINA
TEL: 86 (0) 22-58895386 FAX: 86 (0) 22-58895396
INCORPORATION DATE : JUL.
25, 2005
REGISTRATION NO. :
120103000060948
REGISTERED LEGAL FORM : Limited
liabilities co.
CHIEF EXECUTIVE :
MR. WANG YUFAN (chairman)
STAFF STRENGTH :
6
REGISTERED CAPITAL : CNY 600,000
BUSINESS LINE :
TRADING
TURNOVER :
cny 57,960,000 (UNaudited, AS OF DEC. 31, 2013)
EQUITIES :
cny 750,000 (UNaudited, AS OF DEC. 31, 2013)
PAYMENT :
average
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
fairly stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.05= 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 Ren Min Bi
Note: the (230 Chinapack Building, No. 279,
Jiefang South Road, Hexi District, Tianjin) was SC’s former address, and SC is
currently operating at the heading address.
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 Jul. 25, 2005.
|
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 wholesaling and retailing textiles
and machinery electrical equipment (excluding cars); technical development and
transfer of natural health products; importing and exporting commodities and
technologies (excluding commodities and technologies prohibited by country) (in
accordance with the permit)
SC is mainly engaged in international trade.
Mr. Wang Yufan is
the legal representative, chairman and general manager of SC at present.
SC is
known to have approx. 6 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Tianjin. The
detailed information of the premise is unspecified.
http://www.sannyhealth.com The
design is professional and the content is well organized. At present it is only
in English version.
Email: sannyhealth@126.com wangyufan@sannyhealth.com
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered no. |
1201032010575 |
Present one |
Subject passed the annual inspection of 2012
with Administration for Industry & Commerce.
Organization Code: 777318835
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Wang Yufan 51
Su Jing 8
Wang Pingfan 41
l
Legal representative, chairman and general manager:
Mr. Wang Yufan, with university education. He 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 international trade.
SC’s products mainly include: traditional
Chinese medicines, medicines & medical treatment, mechanical components,
etc.
SC sources its materials 90% from
domestic market and 10% from overseas market. SC sells 10% of its products in
domestic market, and 90% to overseas market.
The
buying terms of SC include T/T, L/C, Check, and Credit of 30-60 days. The payment
terms of SC include T/T, L/C, Check, and Credit of 30-60 days.
Note: SC’s management declined to release
its customer and supplier details.
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.
Bank of China
Tianjin Branch
AC#:
276560039797
Relationship: Normal.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2013 |
|
Cash & bank |
-1,230 |
|
Inventory |
9,320 |
|
Accounts
receivable |
9,430 |
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Other Accounts
receivable |
110 |
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Advances to
suppliers |
7,680 |
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Other current
assets |
0 |
|
|
------------------ |
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Current assets |
25,310 |
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Fixed assets net
value |
0 |
|
Projects under
construction |
0 |
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Long term
investment |
0 |
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Other assets |
0 |
|
|
------------------ |
|
Total assets |
25,310 |
|
|
============= |
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Short loans |
0 |
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Accounts payable |
13,710 |
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Advances from
clients |
8,040 |
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Other Accounts
payable |
4,740 |
|
Taxes payable |
-1,930 |
|
Other current
liabilities |
0 |
|
|
------------------ |
|
Current
liabilities |
24,560 |
|
Long term
liabilities |
0 |
|
|
------------------ |
|
Total
liabilities |
24,560 |
|
Equities |
750 |
|
|
------------------ |
|
Total
liabilities & equities |
25,310 |
|
|
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2013 |
|
Turnover |
57,960 |
|
Cost of goods
sold |
56,190 |
|
Sales expense |
1,070 |
|
Management expense |
630 |
|
Finance expense |
30 |
|
Profit before
tax |
40 |
|
Less: profit tax |
20 |
|
Profits |
20 |
Note: The
above financial records have not been audited.
Important Ratios
=============
|
|
as
of Dec. 31, 2013 |
|
*Current ratio |
1.03 |
|
*Quick ratio |
0.65 |
|
*Liabilities
to assets |
0.97 |
|
*Net profit
margin (%) |
0.03 |
|
*Return on
total assets (%) |
0.08 |
|
*Inventory
/Turnover ×365 |
59 days |
|
*Accounts
receivable/Turnover ×365 |
60 days |
|
*Turnover/Total
assets |
2.29 |
|
* Cost of
goods sold/Turnover |
0.97 |
PROFITABILITY:
AVERAGE
l
The turnover 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 goods sold
is high, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC
is maintained in a normal level.
l
SC’s quick ratio is maintained
in a fair level in 2013.
l
The inventory of SC
appears average.
l
The accounts receivable
of SC appears average.
l
SC has no short-term loan
in 2013.
l
SC’s turnover is in a
fairly good level, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is
high.
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. Appears to be within SC’s capacities upon a periodical review
basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.47 |
|
|
1 |
Rs. 102.94 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.