MIRA
INFORM REPORT
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Report Date : |
22nd
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
SHIJIAZHUANG
OUYI PHARMACEUTICAL Co., Ltd. |
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Registered Office : |
No. 276, |
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Country : |
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Financials (as on) : |
2005 |
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Date of Incorporation : |
29.03.2001 |
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Com. Reg. No.: |
1301001000819 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged
in manufacturing and selling medical products. |
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 : |
USD
300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
SHIJIAZHUANG
OUYI PHARMACEUTICAL Co., Ltd.
NO. 276,
TEL: 86 (0) 0311-87892482
FAX: 86 (0) 311-87033540
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 29, 2001
REGISTRATION NO. : 1301001000819
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 1,500
REGISTERED CAPITAL : CNY
60,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 83,646,000 (AS OF AS OF
JAN.-FEB. 28, 2005)
EQUITIES :
CNY 83,201,000 (AS OF FEB. 28, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 7.77=US$1 AS OF 2007-1-21
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
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 March 29, 2001.
Company Status: Limited liabilities co. This form of
business in PR China is defined as a legal person. 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 listed as follows: -manufacturing
co. : CNY 500,000.00 -trading
&wholesaling co. : CNY 500,000.00 -retailing co. : CNY 300,000.00 -consultancy &
service co. : CNY 100,000.00 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 50% of the registered capital while
contribution by intangible assets must not exceed 20% 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 manufacturing, selling powder and injection preparation, injection,
small capacity injection, light capsule, suppository, hard capsule, granule,
troche, and psychotropic substances; and development of medicine technology.
SC is mainly engaged in
manufacturing and selling medical products.
Ms. Wang Ruiqi has been legal
representative and chairman of SC since 2006.
SC owns approximately 1,500 staff at present.
SC is currently operating at the above stated address, and
this address houses its operating office and factory in the industrial zone of
Shijiazhuang. Our checks reveal that SC owns the total premise about 100,000
square meters.
http://www.cspcoe.com/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: jsjzy@mail.ecspc.com
Changes
of its registered information:
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Date
of change |
Item |
Before
the change |
After
the change |
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2001-4-25 |
Registered
Capital |
CNY
500,000 |
CNY
110,000,000 |
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2004-7-15 |
Registered
Capital |
CNY
110,000,000 |
CNY
60,000,000 |
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2006-1-12 |
Shareholders |
Shijiazhuang Pharmaceutical Group Ltd., Hu
Tao, Wang Zhong, Hao Xiaoyan, Zhang Minyue, Liang Ailian, Liu Jia, Zhang Li,
Lu Jiguo, Ou Hui, Sun Xin, Liu Keyong, Niu Zhanqi, Wang Ruiqi, Zhang Cuilong,
Niu Guizhen, Wang Feng, Min Longgang, Li Mei, Hu Kefeng, Zhang Qing, Li
Yebiao, Pei Shaoshuang, Zhang Yongtai, Wang Junming |
Hu Tao胡涛, Wang
Zhong王忠, Hao Xiaoyan郝小燕, Zhang Minyue,
Liang Ailian, Liu Jia, Zhang Li, Lu Jiguo, Ou Hui, Sun Xin, Liu Keyong, Niu
Zhanqi, Wang Ruiqi, Zhang Cuilong, Niu Guizhen, Wang Feng, Min Longgang, Li
Mei, Hu Kefeng, Zhang Qing, Li Yebiao, Pei Shaoshuang, Zhang Yongtai, Wang
Junming |
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2006-8-7 |
Company
Name |
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2006-1-12 |
Chairman |
Cai
Dongchen |
Wang
Ruiqi |
MAIN SHAREHOLDERS:
Name % of Shareholding
Wang Ruiqi 12.5
Li Yebiao 9.00
Niu Zhanqi 8.30
Zhang Cuilong 4.65
Niu Guizhen 4.65
Wang Feng 4.65
Min Longgang 4.65
Li Mei 4.65
Wang Junming 4.60
Hu Kefeng 3.45
Zhang Qing 3.10
Zhang Yongtai 3.10
Hu Tao 2.80
Wang Zhong 2.80
Hao Xiaoyan 2.80
Liang Ailian 2.80
Liu Jia 2.80
Zhang Li 2.80
Zhang Minyue 2.80
Lu Jiguo 2.50
Ou Hui 2.50
Sun Xin 2.50
Liu Keyong 2.50
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Legal representative and General manager:
Ms.
Working Experience(s):
From 2006 to present Working
in SC as chairman and legal representative.
SC is mainly engaged in
manufacturing and selling medical products.
SC’s products mainly include
Tramadol, Cefadroxil, Indomethacin, etc.
SC’s
products covers semi-synthesized antibiotics, analgesic and anti-inflammatory
products, cardiovascular series, anesthetic series, metabolic series, there are
more than 20 kinds of pharmaceutical bulks and about 270 kinds of finished
drugs in form of tablets, capsules, granules, liquid injections and powder for injections,
suppositories, suspension and oral liquid etc.
SC sources its materials 20%
from domestic market, and 80% from overseas market, mainly
The buying terms of SC include Check, T/T, L/C and Credit of 30-60
days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
SC is known to have the following subsidiaries:
Shijiazhuang Pharmaceutical Group Huasheng Pharmaceutical Co., Ltd.
Shijiazhuang Ouyi Import & Export Trade Co., Ltd.
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.
Industrial & Commercial Bank of
AC#：0402020109221034317
Relationship:
Balance Sheet
Unit: CNY’000
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as of Dec. 31, 2004 |
as of Feb. 28, 2005 |
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Cash & bank |
9,907 |
26,288 |
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Inventory |
48,972 |
41,241 |
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Accounts receivable |
69,735 |
89,793 |
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Notes receivable |
21,656 |
17,630 |
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Advances to supplies |
5,525 |
5,729 |
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Other receivables |
45,580 |
42,732 |
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Prepaid expenses |
18 |
54 |
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Other current assets |
0 |
0 |
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------------------ |
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Current assets |
201,393 |
223,467 |
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Fixed assets |
146,749 |
145,213 |
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Fixed assets net value |
96,499 |
94,424 |
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Projects under construction |
6,446 |
6,760 |
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Long-term investments |
8,626 |
9,719 |
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Intangible and other assets |
66,373 |
65,822 |
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Total assets |
379,337 |
400,192 |
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============= |
============= |
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Short loans |
144,000 |
149,000 |
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Accounts payable |
44,411 |
48,955 |
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Other Accounts payable |
48,733 |
52,977 |
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Accrued payroll |
7,533 |
7,273 |
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Notes payable |
5,000 |
5,000 |
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Taxes payable |
9,562 |
10,842 |
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Welfares payable |
8,070 |
8,162 |
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Accrued expenses |
931 |
12,543 |
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Advances from customers |
10,752 |
5,430 |
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Other current
liabilities |
107 |
15,150 |
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Current liabilities |
279,099 |
315,332 |
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Long term liabilities |
1,479 |
1,659 |
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Total liabilities |
280,578 |
316,991 |
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Shareholders equities |
98,759 |
83,201 |
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Total liabilities &
equities |
379,337 |
400,192 |
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Income Statement
Unit: CNY’000
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as of 2004 |
as of Jan.-Feb. 28, 2005 |
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Turnover |
364,431 |
83,646 |
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Cost of goods sold |
157,448 |
42,095 |
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Sales expense |
121,186 |
26,380 |
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Management expense |
40,425 |
11,944 |
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Finance expense |
8,080 |
1,306 |
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Operation Profit |
37,264 |
1,204 |
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Less: profit tax |
8,752 |
1,787 |
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Net profit |
28,512 |
-583 |
Important Ratios
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as of 2004 |
as of Feb. 28, 2005 |
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*Current ratio |
0.72 |
0.71 |
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*Quick ratio |
0.55 |
0.58 |
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*Liabilities
to assets |
0.74 |
0.79 |
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*Net profit
margin (%) |
7.82 |
-0.70 |
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*Return on
total assets (%) |
7.52 |
-0.15 |
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*Fixed
assets/Total assets |
0.25 |
0.24 |
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*Inventory
/Turnover ×365 |
49days |
180days |
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*Accounts
receivable/Turnover ×365 |
70days |
392days |
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*Turnover/Total
assets |
0.96 |
0.21 |
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* Cost of
goods sold/Turnover |
0.43 |
0.50 |
PROFITABILITY: AVERAGE
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The turnover of SC appears average in its line.
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SC’s net profit margin is acceptable.
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SC’s return on total assets is acceptable.
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SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
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The current ratio of SC is maintained in a fair level.
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SC’s quick ratio is maintained in a fair level.
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The inventory of SC is maintained in a normal level.
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The accounts receivable of SC appears fairly large.
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SC’s short-term loan appears TOO LARGE.
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SC’s turnover is in an acceptable 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 average.
Overall financial condition of the SC:
Fairly stable.
SC is
considered medium-sized in its line with fairly stable financial conditions.
The large amount of short-term loan could be a threat to SC’s financial
conditions. A credit line up to USD 300,000 would appear to be within SC’s
capacities upon a periodical review basis.
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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