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MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TIANJIN PHARMACEUTICALS (H.K.) CO.
LTD |
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Registered Office : |
Room 712, 7/F., Hing Wai Centre, 7 Tin Wan Praya Road, Aberdeen |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.03.2001 |
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Com. Reg. No.: |
31660495 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of All kinds of pharmaceuticals. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name
TIANJIN PHARMACEUTICALS (H.K.) CO. LTD.
ADDRESS
Room 712, 7/F., Hing Wai Centre, 7 Tin Wan Praya Road, Aberdeen, Hong Kong.
Phone: 2555 9600
Fax: 2555 1135
MANAGEMENT
Managing Director: Mr. Wang Fujun
SUMMARY
Incorporated on: 12th March, 2001.
Organization: Private Limited Company.
Capital: Nominal: HK$6,240,000.00
Issued: HK$6,240,000.00
Business Category: Pharmaceutical Trader.
Group Turnover: RMB698,959,130.59 (Year ended 31-12-2007)
Company Employees: 20.
Group employees: 1,500. (As at 31-12-2007)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
Room 712, 7/F., Hing Wai Centre, 7 Tin Wan Praya Road, Aberdeen, Hong Kong.
Holding Company:-
Tianjin Tianyao Pharmaceuticals Co. Ltd., China.
Intermediate Holding Company:-
Tianjin Pharmaceuticals Group Corporation, China.
Ultimate Holding Company:-
Tianjin Jinyao Group Co. Ltd., China.
Sister Companies:-
Tianyao
Group of Companies
Darsheng Trade & Technology Development Co. Ltd., US.
Hubei Tianyao Pharmaceuticals Co. Ltd., China.
Tianjin International Economy & Trade Exhibition Center Co. Ltd., China.
Tianjin Jinyao Transport Co. Ltd., China.
Tianjin Kenum Industry & Commerce Technology Co. Ltd., China.
Tianjin Northern International Trust & Investment Co. Ltd., China.
Tianjin Pharmaceuticals Research Institute Co. Ltd., China.
Tianjin Sanlong Chemical Co. Ltd., China.
Tianjin Tianfa Pharmaceuticals Import & Export Co. Ltd., China.
etc.
Affiliated with:-
Jinyao Group of Companies
BUSINESS REGISTRATION NUMBER
31660495
COMPANY FILE NUMBER
750047
MANAGEMENT
Managing Director: Mr. Wang Fujun
Director & General Manager: Mr. Tian Jing Wen
CAPITAL
Nominal Share Capital: HK$6,240,000.00 (Divided into 6,240,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,240,000.00
SHAREHOLDERS
(As per registry dated 12-03-2008)
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Name |
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No. of shares |
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WANG Hong |
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1,872,000 |
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CHEUNG Kwok Sing |
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1,872,000 |
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Tianjin Tianyao Pharmaceuticals Co. Ltd. 91 Cheng Lin Zhuang Road, Hedong District, Tianjin 300161, China. |
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2,496,000 |
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–––––––– |
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Total: |
6,240,000 ======= |
DIRECTORS
(As per registry dated 27-10-2008)
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Name (Nationality) |
Address |
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WANG Fujun |
109 Ba Wei Road, Hedong District, Tianjin 300171, China. |
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LU Yanchang |
109 Ba Wei Road, Hedong District, Tianjin 300171, China. |
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HAO Yutian |
109 Ba Wei Road, Hedong District, Tianjin 300171, China. |
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TIAN Jing Wen |
Room 1008, 109 Ba Wei Road, Hedong District, Tianjin 300161, China. |
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LI Jing |
109 Ba Wei Road, Hedong District, Tianjin 300171, China. |
SECRETARY
(As per registry dated 12-03-2008)
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Name |
Address |
Co.
No. |
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Pius Consulting Ltd. |
Room B, 16/F., Success Commercial Building, 245-251 Hennessy Road, Wanchai, Hong Kong. |
405723 |
HISTORY
The subject was incorporated on 12th March, 2001 as a private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of pharmaceuticals.
Company Employees: 20.
Group employees: 1,500. (As at 31-12-2007)
Commodities Imported: Europe, India, etc.
Markets: China and worldwide countries.
Group Turnover: RMB679,840,054.55 (Year ended 31-12-2005)
RMB607,239,825.00 (Year ended 31-12-2006)
RMB698,959,130.59 (Year ended 31-12-2007)
Terms/Sales: Various terms.
Terms/Buying: As per contracted.
FINANCIAL INFORMATION
Nominal Share Capital: HK$6,240,000.00 (Divided into 6,240,000 shares of HK$1.00 each)
Issued Share Capital: HK$6,240,000.00
Group Net Profit: RMB95,006,995.32 (Year ended 31-12-2005)
RMB52,215,749.38 (Year ended 31-12-2006)
RMB32,251,524.70 (Year ended 31-12-2005)
Profit & Loss: Business is profitable.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Good.
GENERAL
Tianjin Pharmaceuticals (H.K.) Co. Ltd. is a subsidiary company of Tianjin Tianyao Pharmaceuticals Co. Ltd. [Tianyao] of which “A” shares are listed in Shanghai Stock Exchange.
The subject is a pharmaceutical trader. Its ultimate holding company is Tianjin Jinyao Group Co. Ltd. [Jinyao], a China-based firm.
Jinyao was approved by Tianjin Municipal Party
Committee and Municipal Government, directly supervised by the State-owned
Assets Supervision and Administration Commission of Tianjin Municipality. It is also one of the 14 largest enterprise
groups supported by Tianjin Municipality.
Jinyao Group is the largest base for
researching, manufacturing and exporting corticosteroid bulk. It is also the first manufacturer for amino
acid transfusions. It is mainly engaged
in the production of corticosteroids, formulations, amino acid raw materials as
well as injections, chemical raw materials, cardiovascular drugs, external
formulations, prophylactics, finished traditional Chinese medicines and healthy
food products totalling more than three hundred products.
In 2007, the Group’s industrial production
value, added value, sales income, profits, foreign exchange through export are
respectively increased by 16.2%, 14.8%, 20.3%, 33.3% and 28.1% as compared with
previous years. Now, it has over 40
share holding, share participating companies with more than RMB13 billion total
assets.
The shareholding company Tianyao was listed in June 2001 on Shanghai Stock
Exchange as “A” Stock. In November
2006, Tianyao Stock issued RMB0.39 billion convertible bond. It is the first public offering financing
project after nontradable shares reform.
Tianyao Stock is considered as the High Tech enterprise by our nation,
chairman unit of national corticosteroid bulks association, the first manufacturing
enterprise achieved GMP Certificate for corticosteroid bulks and authenticated
by GMP test.
The subject is fully supported by Tianyao. In FY 2007, the sales turnover of Tianyao was RMB699.0 million, grew by 15.1% as compared with RMB607.2 million in FY 2007.
On the whole, in view of the subject’s background and parentage, consider it good for normal business engagements.
COURT CASES
None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)