MIRA
INFORM REPORT
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Report Date : |
11.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHANGHAI INTERNATIONAL PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 4333 Longdong Street, Pudong New District, Shanghai,
201201 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
APR. 12, 1993 |
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Com. Reg. No.: |
3100001001978 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and
selling raw material medicine and chemical or pharmaceutical preparation. |
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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Maximum Credit Limit : |
Up To usd 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
SHANGHAI INTERNATIONAL PHARMACEUTICAL CO., LTD.
NO. 4333 LONGDONG STREET, PUDONG NEW DISTRICT,
SHANGHAI, 201201 PR CHINA
TEL: 86 (0) 21-58580380
FAX: 86 (0) 21-58580331
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 12, 1993
REGISTRATION NO. : 3100001001978
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH :
658
REGISTERED CAPITAL : CNY 60,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
cny 201,514,000 (AS OF DEC. 31,
2005)
EQUITIES :
cny 82,608,000 (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : up to usd 600,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 7.74= US$1 AS OF 2007-3-30
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
The address client given in the order of Room 1401 No. 204 Lane
100, Zhongtan Road, Putuo Distrcit, Shanghai is owned by the foreign trade office of SC. (Tel: 86
21-61070216 and 61070218)
SC was registered as a shares limited company at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on Apr. 12, 1993.
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The characteristics of the
shares limited co. are as follows: The establishment of the co.
requires at least five promoters and at least three of them must be PR-
China controlled legal persons. Natural person can not be allowed to serve
as promoters. The minimum registered capital
of a co. is CNY10M. while that of the co. with foreign investment is
CNY30M. The total capital of a co. which propose to apply for publicly
listed must not less than CNY50M. The board of directors must
consist of an odd number of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within three
years of the offer. Directors can not transfer the shares they hold in the
co. during their terms of office. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes selling its products in domestic
and abroad markets and importing the materials, machinery and technology needed
for it producing; processing and compensation trade in agreement; medical
equipment researching, developing and consulting service; industry investment;
commercial retailing and wholesaling.
SC is mainly
engaged in manufacturing and selling raw material medicine and pharmaceutical
preparation.
Mr. Jiang Biao has
been chairman of SC since 2001.
SC owns about 658
staff.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Shanghai. Our checks
reveal that SC owns the total premise about 27,493 square meters.
http://www.wzpharm.com . The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Trade Mark "Wu Zhou" was registered
in 1912. Trade Mark "Wu Zhou" won high admiration in locally and
overseas. Shanghai International Pharmaceutical Co., Ltd. formerly known as Wu
Zhou Big Pharmacy Ltd. Company was established in Guang Xu Year 33, Qing
Dynasty (1907).
The trade mark "Wu Zhou", is composed of blue "Wu
Zhou" characters and symbolized by a global background.
In 1921 Wu Zhou officially built its first factory, named Wu Zhou GU Ben
Soap & Pharmaceutical Factory. The name was changed to Wu Zhou No.2
Pharmaceutical Factory, and Wu Zhou Pharmaceutical Factory and Shanghai No.5
Pharmaceutical Factory.
In 1989 Wu Zhou was awarded as Shanghai new advanced technology
enterprise National Level 2 Enterprise.
In May 1995, Wu Zhou was listed for the first time as a Modern Enterprise
Testing Body by the Shanghai Government. On Sept. 16 1996 Wu Zhou was
reorganized as state owned Wu Zhou Pharmaceutical Ltd.
In Sept. 1996 Wu Zhou was reorganized to a state owned company named Wu
Zhou Pharmaceutical Ltd.
In April 2001 International Pharmaceutical Co., Ltd was established.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Pharmaceutical Group Co., Ltd. 30
The Shanghai Institute of Organic Chemistry 20
Shanghai Hengjin High-tech Investment Co.,
Ltd. 27
Shanghai United Investment Co., Ltd. 10
Jiang Biao 5%
Yang Jianzu 5%
Xu Yiping 1.5%
Fang Jianguo 1.5%
Shanghai Pharmaceutical Group Co., Ltd.
It is one of the first Chinese pharmaceutical
companies that gave birth to the Chinese pharmaceutical industry. More than 100
years age, the first group of pharmaceutical laboratories was established in
Shanghai, which created many leading companies in the Chinese pharmaceutical
industry.
It owns the complete industrial production
base in China and an elaborate distribution and retailing system, with products
covering almost every categories of medicine in the Chinese pharmaceutical
industry.
It regards antibiotics, prescription drugs,
traditional Chinese medicine & OTC, API and medicine distribution &
retail as the core business. Its products are sold throughout China and to more
than 30 countries abroad.
Tel: 86 021 - 63730908
Fax: 86 021 - 63289333
Web: http://www.pharm-sh.com.cn/
E-Mail pharm@pharm-sh.com.cn
Pharmaceutical Building No. 200 Tiacang Road
Shanghai
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Chairman:
Mr. Jiang Biao, in his 50’s with university education. He is currently responsible
for the overall management of SC.
Working Experience(s):
From 2001 to present Working
in SC as chairman.
Also working in Shanghai Synica Corporation Limited. As chairman.
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General Manager:
Mr. Fang Jianguo, in his 50’s with university education. He is currently
responsible for the daily management of SC.
Working Experience(s):
From 2001 to present Working in SC as general manager.
SC is mainly engaged
in manufacturing and selling raw material medicine and chemical or
pharmaceutical preparation.
SC’s products
mainly include: Metamizole Sodium Tablets Doxycycline
Hyclate Cefradine
Lisinopril Propantheline Bronmide Doxycycline Hyclate Ethambutol
Hydrochloride
Antiprine Sodium Cromoglicate.
SC sources its
materials 80% from domestic market and 20% from the overseas markets mainly
from Europe. SC sells 70% of its products in domestic market and 30% to the
overseas markets, mainly to Southeast Asia, USA and Europe.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
SC’s domestic selling agents:
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Area |
Agent |
Contact |
Tel |
MP |
Add |
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Anhui |
Taihe Jin Hai Pharmaceutical Ltd |
Huang Yu Rong |
0558-8622423 |
13909680201 |
12 Shu He Rd. |
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HE Bei |
Shi Jia Zhuang Pharmaceutical Trading Co. |
Wang XI PIng |
1 |
13931849888 |
586 Cang An St. Shi Jia Zhuang |
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Jiang Su |
Chang Zhou Hygiene Devlopment Co No.1 Medicien Dept. |
Liu Pei Xing |
8101741 |
13809076029 |
6 Yan Lin Xi Rd. Chang Zhou |
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Jiang Su |
XI SHAN Xing Wei Dong Hu Tang Pharmaceutical Distributor |
Cheng Zhuo Yun |
8791141 |
13701638310 |
Dong Hu Tang Twon |
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Jiang Su |
Yang Du Pharmaceutical Ltd |
Teng Xue Wu |
8417888 |
13805101618 |
1 Xin Hong Rd. Yan Du |
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Jiang Su |
Shuo Fang Pharmaceutical Ltd |
Wang Jian Zhong |
5302361 |
13806181338 |
Shuo Fang Town |
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Guong Dong |
Guang Gong Ji Sheng Pharmaceutical Ltd |
Chen Yi Qun |
0663-2223561 |
13923530356 |
Lui Sha Town Pu Ning |
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Dong Bei |
Liao Ning Pharmaceutical Development Ltd |
Yang Yu Hua |
22854511 |
13804035235 |
120 Nan Ning St. He Ping District Shen Yang |
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 refused to release any information of its
suppliers and the trade reference was not available.
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
AC#：21066070060075
Relationship:
Normal.
Financial Summary
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Unit: CNY’000
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As of Dec. 31, 2004 |
As of Dec. 31, 2005 |
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Current assets |
152,379 |
158,975 |
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Fixed assets |
103,828 |
98,966 |
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Total assets |
303,363 |
298,791 |
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Current
liabilities |
233,610 |
216,183 |
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Total
liabilities |
233,610 |
216,183 |
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Equities |
69,753 |
82,608 |
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Total
liabilities & equities |
303,363 |
298,791 |
Income Statement
Unit: CNY’000
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As of Dec. 31, 2004 |
As of Dec. 31, 2005 |
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Turnover |
244,699 |
201,514 |
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Cost of goods sold |
203,361 |
167,643 |
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Sales expense |
8,537 |
6,900 |
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Management expense |
21,246 |
17,387 |
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Finance expense |
7,256 |
5,202 |
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Profit before
tax |
4,767 |
4,582 |
Important Ratios
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As
of Dec. 31, 2004 |
As
of Dec. 31, 2005 |
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*Current ratio |
0.65 |
0.74 |
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*Quick ratio |
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*Liabilities
to assets |
0.77 |
0.72 |
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*Net profit
margin (%) |
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*Return on
total assets (%) |
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*Fixed
assets/Total assets |
0.34 |
0.33 |
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*Inventory
/Turnover ×365 |
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/ |
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*Accounts
receivable/Turnover ×365 |
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/ |
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*Turnover/Total
assets |
0.81 |
0.67 |
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* Cost of
goods sold/Turnover |
0.83 |
0.83 |
PROFITABILITY:
FAIRLY GOOD
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The turnover of SC appears fairly good in its line.
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SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
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The current ratio of SC is maintained in a fair level.
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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.
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The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
SC is considered medium-sized in its line with favorable market
conditions. Over the past 14 years, SC has made a stable growth with acceptable
profit. A credit line up to USD 600,000 would appear to be within SC’s
capacities.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)