MIRA
INFORM REPORT
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Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 18, Yucai
Lane, |
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Country : |
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Date of Incorporation : |
Jan. 28, 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 : |
Engaged
in 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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Maximum Credit Limit : |
Up To usd 500,000 |
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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
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 7.54 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: The given name is SC’s former name, and its current company name should be the heading one.
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
l
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.
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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. |
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%)