MIRA INFORM REPORT
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Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
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Name : |
Wuxi
Topsharp Medical Technology Co., Ltd. |
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Registered Office : |
Room 1108, A1 Building Of
Tian’an Intelligent Park, No. 288 Linghu Avenue, High & New Industrial Development Zone, Wuxi, Jiangsu Province 214135 PR |
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Country : |
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Date of Incorporation : |
04.12.2013 |
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Com. Reg. No.: |
320213000201927 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in selling medical devices. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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, growth of the
private sector, development of stock markets and a modern banking system, 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 considered important to "economic
security," explicitly looking to foster globally competitive industries.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China 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 and
expanded the daily trading band within which the RMB is permitted to fluctuate.
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 2013 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
consumption; (b) facilitating higher-wage job opportunities for the aspiring
middle class, including rural migrants and increasing numbers of college
graduates; (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. Several factors are
converging to slow China's growth, including debt overhang from its
credit-fueled stimulus program, industrial overcapacity, inefficient allocation
of capital by state-owned banks, and the slow recovery of China's trading
partners. The government's 12th Five-Year Plan, adopted in March 2011 and
reiterated at the Communist Party's "Third Plenum" meeting in
November 2013, emphasizes continued economic reforms and the need to increase
domestic consumption in order to make the economy less dependent in the future
on fixed investments, exports, and heavy industry. However, China has made only
marginal progress toward these rebalancing goals. The new government of
President XI Jinping has signaled a greater willingness to undertake reforms
that focus on China's long-term economic health, including giving the market a
more decisive role in allocating resources
|
Source
: CIA |
Company name and address
Wuxi Topsharp Medical Technology
Co., Ltd.
room
1108, a1 building of tian’an intelligent park, no. 288 linghu avenue, high
& new
industrial development zone, wuxi
jiangsu
PROVINCE 214135 PR CHINA
TEL: 86
(0) 510-82200860
FAX: 86 (0)
510-82200861
EXECUTIVE SUMMARY
Date of Registration : december 4, 2013
REGISTRATION NO. : 320213000201927
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 810,000
staff : 5
BUSINESS CATEGORY : TRADING
Revenue : CNY 0 (AS OF DEC. 31, 2013)
EQUITIES : CNY 810,000 (AS OF DEC. 31, 2013)
WEBSITE : www.topsharp.com.cn
E-MAIL :
ts@topsharp.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : FAIR
EXCHANGE RATE : CNY 6.15 = USD 1
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY –
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 a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 320213000201927 on December 4, 2013.
SC’s Organization Code Certificate
No.: 08501871-9
SC’s Tax No.: 320200085018719
SC’s registered capital: CNY 810,000
SC’s paid-in capital: CNY 810,000
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chen Bing |
50 |
|
Xiang Bingju |
50 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman,
and General Manager |
Chen
Bing |
|
Supervisor |
Xiang
Bingju |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Chen Bing 50
Xiang Bingju 50
MANAGEMENT
Chen
Bing, Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------
Ř
Gender: M
Ř
Age: 35
Ř
ID# 321081197908047518
Ř Qualification:
University
Ř Working experience
(s):
From 2013 to present, working in SC as legal
representative, chairman and general manager
Xiang Bingju, Supervisor
--------------------------------------------
Ř
Gender: M
Ř
Age: 32
Ř
ID# 330304198211042759
BUSINESS OPERATION
***Note:
SC started its normal operation in 2014.
SC’s registered business scope
includes research and development of medical devices; retail of
medical device; operating and acting as an agent of importing and exporting
various kinds of commodities and technology, excluding the goods forbidden by
the government.
SC is
mainly engaged in selling medical devices.
SC’s
products mainly include: grinded cannula for
needle, etc.
SC sources its products 100% from domestic market, mainly Jiangsu. SC sells 100% of its products to overseas market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 5
staff at present.
SC
rents an area as its operating office, but the detailed information is unknown.
RELATED COMPANY
SC is not known to have any
subsidiary at present.
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
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
|
810 |
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Notes receivable |
0 |
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Accounts
receivable |
0 |
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Advances to
suppliers |
0 |
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Other receivable |
0 |
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Inventory |
0 |
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Non-current
assets within one year |
0 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
810 |
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Fixed assets |
0 |
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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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------------------ |
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Total assets |
810 |
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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 |
0 |
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Advances from
clients |
0 |
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Other payable |
0 |
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Other current
liabilities |
0 |
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------------------ |
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Current
liabilities |
0 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
0 |
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Equities |
810 |
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------------------ |
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Total
liabilities & equities |
810 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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Revenue |
0 |
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Cost of sales |
0 |
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Sales expense |
0 |
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Management expense |
0 |
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Finance expense |
0 |
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Profit before
tax |
0 |
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Less: profit tax |
0 |
|
0 |
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with
a short business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
PDT |
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.