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MIRA INFORM REPORT
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Report No. : |
486323 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI EDER MEDICAL
TECHNOLOGY INC. |
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Registered Office : |
Room No. 508, Block 3, No. 1800 Huangxing Road, Yangpu District,
Shanghai 201433 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2017 (Consolidated) |
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Date of Incorporation : |
04.04.2001 |
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Unified social credit code : |
913101107032824702 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in technology development, technology consulting, technology
service, and technology transfer in the fields of medical equipment;
manufacturing medical equipment (limited to operate by SC's branch);
commercial information consulting; importing and exporting commodities and
technology. |
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No. of Employees : |
37 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state-support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, 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 liberalization. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi (RMB) after the currency was accepted as part of the IMF’s special drawing rights basket. After engaging in one-way, large-scale intervention to resist appreciation of the RMB for a decade, China’s 2016 intervention in foreign exchange markets has sought to prevent a rapid RMB depreciation that would have negative consequences for the United States, China, and the global economy.
China’s economic growth has slowed since 2011. The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) servicing its high corporate debt burdens to maintain financial stability; (c) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (d) dampening speculative investment in the real estate sector; (e) reducing industrial overcapacity; and (f) raising productivity growth rates through the more efficient allocation of capital. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. Under President XI Jinping, Beijing has signaled its understanding that China's long-term economic health depends on giving the market a more decisive role in allocating resources, but has moved slowly on market-oriented reforms because of potential negative consequences for stability and short-term economic growth. He has also increased state-control over key sectors and Party control over state-owned enterprises. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time.
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Source
: CIA |
Company
name and address
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COMPANY NAME |
Shanghai Eder Medical
Technology Inc. |
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CURRENT ADDRESS |
Room No. 508, Block 3, No. 1800 Huangxing Road, Yangpu District,
Shanghai 201433 PR China |
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REGISTERED ADDRESS |
Room 712-8, Building B, No. 2, Lane 2005 Huangxing Road, Yangpu
District, Shanghai |
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TEL. NO. |
86 (0) 21-65013662 |
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FAX NO. |
N/a |
EXECUTIVE
SUMMARY
Date of Registration : april 4, 2001
Unified social credit code :
913101107032824702
LEGAL FORM : Shares limited
Company
CHIEF EXECUTIVE : zheng hongbiao
(LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 34,425,000
staff : 37
BUSINESS CATEGORY : TRADING
REVENUE : CNY 36,009,000
(CONSOLIDATED, JAN. 1, 2017 TO JUN. 30, 2017)
EQUITIES : CNY 46,782,000
(CONSOLIDATED, AS OF JUN. 30, 2017)
WEBSITE : www.chinaeder.com
E-MAIL : eder@chinaeder.com
PAYMENT : REGULAR
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
stable
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
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 shares limited company of PRC with State Administration
of Industry & Commerce (SAIC) under Unified Social Credit Code:
913101107032824702.
SC’s Import and Export Enterprise Code: 3100703282470
SC’s registered capital: CNY 34,425,000
SC’s paid-in capital: CNY 34,425,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2015-12-25 |
Registered Capital |
CNY 5,000,000 |
CNY 5,500,000 |
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2016-3-24 |
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
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Company Name |
Shanghai Eder Medical Equipment Co., Ltd. |
Shanghai Eder Medical
Technology Inc. |
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2016-12-13 |
Registered Capital |
CNY 5,500,000 |
CNY 18,150,000 |
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2017-5-8 |
Registered Capital |
CNY 18,150,000 |
CNY 20,250,000 |
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2017-12-15 |
Registered Capital |
CNY 20,250,000 |
CNY 34,425,000 |
|
-- |
Registration No./ Unified Social Credit Code |
310110000228029 |
913101107032824702 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) (As of Jun. 30, 2017) |
% of Shareholding |
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Zheng Hongbiao |
32.59 |
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Shanghai Dingqi Venture Capital Center (Limited Partnership) |
18.56 |
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Wang Mingshui |
14.45 |
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Suzhou Taihong Jinghui Investment
(Limited Partnership) |
8.15 |
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Shenzhen Yizhicheng Investment Management Center (Limited Partnership) |
4.48 |
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Shenzhen Yiyuanming Investment Management Center (Limited Partnership) |
4.48 |
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Jingmen Zhenci Tianshan Equity Investment Partnership Enterprise (Limited Partnership) |
4.44 |
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Tianfeng Securities Co., Ltd. Special Securities Account |
3.46 |
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Li Zhongqing |
1.63 |
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Yu Binru |
1.63 |
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Other
Shareholders |
6.13 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative and Chairman |
Zheng Hongbiao |
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General Manager and Director |
Zheng Yilun |
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Director |
Xiao Li |
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Peng Li |
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Li Zunqing |
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Supervisor |
Zhong Kai |
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Wang Zhengshui |
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|
Hu Xiaoyuan |
RECENT
DEVELOPMENT
SC was listed on the new three board stock market, and the stock code is
839056.
SHAREHOLDER
CHART & BACKGROUND
Name % of Shareholding
(As of Jun. 30, 2017)
Zheng Hongbiao 32.59
Shanghai Dingqi Venture Capital Center (Limited Partnership) 18.56
Wang Mingshui 14.45
Suzhou Taihong Jinghui Investment (Limited Partnership) 8.15
Shenzhen Yizhicheng Investment Management Center (Limited Partnership) 4.48
Shenzhen Yiyuanming Investment Management Center (Limited Partnership) 4.48
Jingmen Zhenci Tianshan Equity Investment Partnership Enterprise
(Limited Partnership) 4.44
Tianfeng Securities Co., Ltd. Special Securities Account 3.46
Li Zhongqing 1.63
Yu Binru 1.63
Other Shareholders 6.13
MANAGEMENT
Zheng Hongbiao, Legal
Representative and Chairman
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Gender: M
Nationality: China
Qualification: University
Working experience (s):
At present, working in SC as legal representative and chairman
Zheng Yilun, General Manager
and Director
----------------------------------------------------------------------
Gender: M
Nationality: China
Qualification: University
Working experience (s):
At present, working in SC as general manager and director
Also working in Shanghai Gaocai Technology Co., Ltd. as legal
representative
Director
------------
Xiao Li
Peng Li
Li Zunqing
Supervisor
---------------
Zhong Kai
Wang Zhengshui
Hu Xiaoyuan
BUSINESS
OPERATION
SC’s registered business scope includes technology development,
technology consulting, technology service, and technology transfer in the
fields of medical equipment; manufacturing medical equipment (limited to
operate by SC's branch); commercial information consulting; importing and
exporting commodities and technology.
SC is mainly engaged in selling medical equipment.
SC’s products mainly include: operating microscope, etc.
Trademark:
SC sources its products 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% 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.
Staff & Office:
--------------------------
SC is known to have approx. 37 staff at present.
SC rents area as its operating office, but the detailed information is
unknown.
RELATED
COMPANY
SC is known to have a subsidiary at present,
Shanghai Gaocai Technology Co., Ltd.
Unified Social Credit Code: 91310114MA1GT
Date of Registration: December 8, 2015
Legal Form: One-person Limited Liabilities Company
Registered Capital: CNY 1,000,000
Legal Representative: Zheng Yilun 郑轶伦
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 local SAIC.
FINANCIALS
Consolidated Balance Sheet
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Unit: CNY’000 |
As of Dec. 31, 2016 |
As of Jun. 30, 2017 |
|
6,641 |
19,606 |
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Notes receivable |
0 |
0 |
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Accounts receivable |
14,470 |
25,318 |
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Advances to suppliers |
2,221 |
1,393 |
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Other receivable |
202 |
254 |
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Inventory |
6,286 |
9,148 |
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Non-current assets within one year |
0 |
0 |
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Other current assets |
0 |
0 |
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|
------------------ |
------------------ |
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Current assets |
29,820 |
55,719 |
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Long-tem investment |
0 |
0 |
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Investment real estate |
0 |
0 |
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Fixed assets |
1,729 |
1,885 |
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Construction in progress |
0 |
0 |
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Fixed assets in liquidation |
0 |
0 |
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Intangible assets |
0 |
0 |
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Long-term prepaid expenses |
1,231 |
908 |
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Deferred income tax assets |
349 |
551 |
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Other non-current assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
33,129 |
59,063 |
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|
============= |
============= |
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Short-term loans |
3,000 |
3,000 |
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Notes payable |
0 |
0 |
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Accounts payable |
1,713 |
1,970 |
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Wages payable |
0 |
0 |
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Taxes payable |
1,265 |
1,465 |
|
Interest payable |
0 |
0 |
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Advances from clients |
1,408 |
815 |
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Other payable |
185 |
31 |
|
Other current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Current liabilities |
7,571 |
7,281 |
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Non-current liabilities |
0 |
5,000 |
|
|
------------------ |
------------------ |
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Total liabilities |
7,571 |
12,281 |
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Equities |
25,558 |
46,782 |
|
|
------------------ |
------------------ |
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Total liabilities & equities |
33,129 |
59,063 |
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|
============= |
============= |
Consolidated Income Statement
|
Unit: CNY’000 |
As of Dec. 31, 2016 |
Jan. 1, 2017 to Jun. 30, 2017 |
|
Revenue |
57,823 |
36,009 |
|
Cost of sales |
39,872 |
26,142 |
|
Taxes and surcharges |
311 |
145 |
|
Sales expense |
1,981 |
1,311 |
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Management expense |
6,286 |
2,455 |
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Finance expense |
29 |
282 |
|
Non-operating income |
15 |
1,500 |
|
Non-business expenditure |
107 |
3 |
|
Profit before tax |
8,188 |
6,147 |
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Less: profit tax |
1,155 |
949 |
|
7,033 |
5,198 |
Important Ratios
=============
|
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As of Dec. 31, 2016 |
As of Jun. 30, 2017 |
|
*Current ratio |
3.94 |
7.65 |
|
*Quick ratio |
3.11 |
6.40 |
|
*Liabilities to assets |
0.23 |
0.21 |
|
*Net profit margin (%) |
12.16 |
14.44 |
|
*Return on total assets (%) |
21.22 |
8.80 |
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*Inventory / Revenue ×365/180 |
40 days |
46 days |
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*Accounts receivable / Revenue ×365/180 |
92 days |
127 days |
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*Revenue / Total assets |
1.75 |
0.61 |
|
*Cost of sales / Revenue |
0.69 |
0.73 |
FINANCIAL
COMMENTS
PROFITABILITY: AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a fairly good level.
SC’s quick ratio is maintained in a fairly good level.
The inventory of SC appears average.
The accounts receivable of SC appears large.
SC’s short-term loans appear average.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.76 |
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|
1 |
INR 87.91 |
|
Euro |
1 |
INR 78.20 |
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CNY |
1 |
INR 9.93 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.