MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG JINGXIN PHARMACEUTICALS IMPORT & EXPORT CO.,
LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28.11.2006 |
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Com. Reg. No.: |
3306242103609 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
Selling Pharmaceutical Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
ZHEJIANG JINGXIN PHARMACEUTICALS IMPORT & EXPORT CO., LTD.
NO.800
TEL: 86 (0) 575-86096890
FAX: 86 (0) 575-86096898
EXECUTIVE SUMMARY
INCORPORATION
DATE : November 28,
2006
REGISTRATION
NO. :
3306242103609
REGISTERED
LEGAL FORM : Limited liabilities company
STAFF
STRENGTH :
25
REGISTERED
CAPITAL : CNY 5,000,000
BUSINESS
LINE :
trading
TURNOVER : n/a
EQUITIES :
n/a
PAYMENT
:
AVERAGE
RECOMM.
MARKET
CONDITION :
average
FINANCIAL
CONDITION : n/a
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE
RATE :
CNY7.62 = US$1 AS OF 2007-6-15
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 November 28, 2006.
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 importing and exporting all kinds of commodities and
technologies, in accordance with the license.
SC is mainly engaged
in selling pharmaceutical products
Mr. Lu Gang has been
chairman of SC since 2006.
SC owns about 25 staff
at present.
SC is currently
operating at the above stated address, and this address houses its operating
office in the commercial zone of Xinchang county. Our checks reveal that SC
owns the total premise about 400 square meters.
SC is not known to host web site of its own at present.
No significant events or changes were found during our checks with the local Administration for Industry & Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
zhejiang Jingxin
Pharmaceutical Co., Ltd. 100
zhejiang Jingxin
Pharmaceutical Co., Ltd.:
==============================
Zhejiang Jingxin Pharmaceutical Co., Ltd. was listed at
Shenzhen Stock Exchange (with the stock code 002020). And it took the lead in
approving GMP and ISO14001 certification in
Website: http://www.jingxinpharm.com
Chairman and General Manager:
Mr. Lu Gang, 45 years
old with university education. He is currently responsible for the overall
management of SC.
Working Experience(s):
From 2006 to present Working in SC as chairman an general manager, and also working in zhejiang Jingxin Pharmaceutical Co., Ltd. as chairman and general manager.
SC is mainly engaged
in selling pharmaceutical products.
SC has started its
normal operation in January of 2007.
Brand: Jingxin
SC’s products mainly
include:
Drug Products
Ciprofloxacin Capsules
Ciprofloxacin Tablets
Levofloxacin Tablets
Loratadine Tablets
Simvastatin Tablets
Active
Pharmaceutical Ingredients
Ciprofloxacin Base
Ciprofloxacin
Hydrochoride
Gatifloxacin
Levofloxacin HCL
Levofloxacin Hemihydrate
Loratadine
Simvastatin
Veterinary raw
materials
Enrofloxacin Base
Enrofloxacin HCL
SC sources its
materials 100% from domestic market, mainly
The buying terms of SC
include Check, T/T and Credit of 30 days. The payment terms of SC include T/T,
L/C and Credit of 30-45 days.
Major Supplier
zhejiang Jingxin Pharmaceutical Co., Ltd.
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.
SC’s management declined to release its bank details.
SC was established in November of 2006 and its financial reports are not available at present.
SC is considered a small-sized company in its line with fairly good background. Credit dealings with SC should be confined into small amount at present.
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%)