MIRA
INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 18, Yucai Lane, East Shuncheng Street, Dadong District, Shenyang City, Liaoning Province 110042 |
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Country : |
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Date of Incorporation : |
28.01.1999 |
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Com. Reg. No.: |
2101132200051 |
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Legal Form : |
Limited
Liabilities Company |
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Line of Business : |
Manufacturing and Selling Raw Materials of Chemical
Medicine |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME & ADDRESS
NO. 18,
TEL: 86 (0)
24-24311281
FAX: 86 (0) 24-89703495
EXECUTIVE SUMMARY
INCORPORATION DATE : jan. 28, 1999
REGISTRATION NO. : 2101132200051
REGISTERED LEGAL FORM : limited liabilities company
CHIEF EXECUTIVE : Mr. jiang yang (chairman)
STAFF STRENGTH : 990
REGISTERED CAPITAL : cny91,940,000
BUSINESS LINE : manufacturing
TURNOVER : n/a
EQUITIES : n/a
RECOMM.
MARKET CONDITION : competitive
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 7.62 = US$1 AS OF 2007-06-21
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 Jan.28, 1999.
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 raw materials of chemical medicine, medical intermediates, preparation, and chemicals; importing raw materials, accessories, machinery, apparatus and instruments, components, and electrical power.
SC is mainly engaged in manufacturing and selling raw materials of chemical medicine.
Mr. Jiang Yang has been chairman of SC since 1999.
SC owns about 990 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 Shenyang. Our checks reveal that SC rents the total premise about 142,000 square meters.
SC is not known to host website of its own at present.
SC is a large-scale, comprehensive, GMP certified
pharmaceutical enterprise, which possesses two main production lines with primacy
production ability for rifampicin raw materials and pharmaceutical intermediate
rifamycin S-Na in
On December 1, 2005, SC changed its company name from Tonglian Group Shenyang Antibiotic Manufacturer to the present.
MAIN SHAREHOLDERS:
Name % of
Shareholding
Jiang Yang 100
Chairman:
Mr. Jiang Yang, in his 40’s with university education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 1999 to present Working in SC as chairman.
General Manager:
Ms. Chen Minxian , in her 40’s with university education. She is currently responsible for the daily management of SC.
Working Experience(s):
From 1999 to present Working in SC as general manager.
SC is mainly engaged in manufacturing and selling raw materials of chemical medicine.
SC’s products mainly include: Rifamycin S Sodium, Rifamycin, liquid glucoseetc, butyl acetate, propanone, etc.
SC's annual output is approx. 350
tons of Rifamycin S Sodium, and 260 tons of Rifamycin.
Rifampicin raw material
has been listed in ‘the List of Chinese Product of High and New Technology'
issued by Chinese government.
SC sources its materials 60% from
domestic market, and 40% from overseas market, mainly
The buying terms of SC include 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 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 principal declined to release any bank information.
SC’s principal declined to release its financial conditions.
Investigations were made with the local AIC, however, no financial records of SC were found.
SC is considered a normally advancing concern with steady customers and good base to meet its trade engagements. Credit in the range of moderate amount can be considered.
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%)