MIRA
INFORM REPORT
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Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
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Name : |
HUNAN NORCHEM PHARMACEUTICAL CO. LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.01.2011 |
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Com. Reg. No.: |
430181000055399 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture And Sales of Steroid Hormones Drug and Intermediates |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
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HUNAN NORCHEM PHARMACEUTICAL CO. LTD |
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410005 |
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Tel : |
86 731 84280811 |
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Fax |
86 731 84280722 |
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Website |
http://www.norchem-industry.com/cn/index.asp |
Currency in this
report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1
USD=6.56 Chinese Yuan
"--"in
this report indicates "unavailable" due to insufficient information
or "no comments"
EXECUTIVE SUMMARY
DATE OF establishment : Jan 12th,
2011
Aic Registration
No. : 430181000055399
REGISTERED LEGAL
FORM : limited liability company
REGISTERED CAPITAL : 10,000,000.00
main BUSINESS : manufacture and
sales of steroid hormones drug and intermediates
employees :
150
import and export
permits : yes
base CREDIT L:
EXCHANGE RATE : 1 Usd=6.56 CNY
(APR 1ST, 2011)
Registered Address:
Zip Code: 410005
Telephone: 86 731 85672198
Business Address:
Zip Code: 410005
Telephone: 86 731 84280811
Fax: 86 731 84280722
SIC Code (
REGISTRATION
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Date of Establishment |
Jan 12th, 2011 |
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Registry |
Administration Bureau of Industry and Commerce -
Liuyang |
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Legal Representative |
Liu Xirong (刘喜荣) |
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AIC Registration Number |
430181000055399 |
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Registered Legal Form |
limited liability
company |
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Registered Capital |
10,000,000.00 |
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Operating Period |
From Jan 12th, 2011 to Jan 11th,
2061 |
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Business Scope |
Research of biomedical products, technology
consulting and technology transfer. Sales of fine chemical products (
excluding dangerous chemicals)；Import and
export of biomedical raw materials and technologies (excluding those
forbidden by the government). |
Limited liabilities co.
This form of
business in PR China is defined as a legal person. Its registered capital is
contributed jointly by at least two shareholders and no more than fifty.
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. : RMB 500,000.00
-trading
&wholesaling co. : RMB 500,000.00
-retailing
co. : RMB 300,000.00
-consultancy &
service co. : RMB 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.
REGISTRATION INFO:
AVAILABLE
FINANCIAL REPORTS:
AVAILABLE
FIELD
INVESTIGATION
2.
SC’s main business income comes
mainly from female hornones, progestational hormone and cortical
hormone. These occupies 75% of its income while other sterold hormones occupy
25%. SC’s sales business is developed directly to its end users. The industry
of sterold hormones is an emerging industry. With a short history, SC’s fame in
its industry still needs to be further improved.
3.
.
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Liu Xirong |
6,000,000.00 |
60.00% |
|
Jiang
Qingfeng |
2,000,000.00 |
20.00% |
|
Fu
Jie |
1,000,000.00 |
10.00% |
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Liu
Xihua |
1,000,000.00 |
10.00% |
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Total |
10,000,000.00 |
100% |
Note: The percentage of the paid-up capital is 50%.
Background
of major shareholder
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Name |
Liu Xirong |
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Certificate No. |
510107197306092174 |
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Gender |
Male |
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Date of Birth |
June 9th, 1973 |
AFFILIATE(S)
After checking with the industry
and commerce channels, no affiliates of SC is found.
MANAGEMENT
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Name |
Liu Xirong |
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Title |
Chairman and General Manager |
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Gender |
Male |
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ID No. |
510107197306092174 |
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Nationality |
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Date of birth |
June 9th, 1973 |
NUMBER OF EMPLOYEES
Employees: 150
Recent Recruitment Yes
Recruitment
post: Medical inspector
BANKERS INFORMATION
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Bank Name |
Bank of |
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Telephone of Interviewee |
86 731 84580200 |
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Comment |
SC is confirmed to have opened an account in
this bank, but the interviewee refused to disclose the related account
information for the reason of keeping secret for the depositor. |
OFFICE FACILITIES
Geographic
Location: SC
is located in
Property
Ownership:
rented
TRADEMARKS
& PATENTS
After
checking with the Trademark Office of Chinese Administration Bureau of Industry
and Commerce and the State Intellectual Office, no trademarks or patents of SC
were found.
MAIN
PRODUCTS & SERVICES
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Main business |
Manufacture and sales of sterold hormones and
intermediates |
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Products and services |
SC’s products include female
hornones, progestational hormone and cortical hormone, etc. Its
products are sold both domestically and internationally. |
SALES
INFORMATION
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Percentage of domestic sales |
70% |
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Regions |
All over |
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Domestic clients/ industry |
Retailers, end users |
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Sales terms |
Prompt payment; on credit |
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Percentage of international sales |
30% |
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Regions |
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Sales Terms: |
L/C T/T |
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SC’s products are mainly sold to overseas
countries. Its intermediates are mainly sold domestically. Its sales channels
still need to be developed. |
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The above information was confirmed by SC’s
employee. |
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PURCHASE
INFORMATION
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Main Commodities Purchased |
Turmeric double ene, honing glass
reaction jug, stainless steel reaction jug ,etc |
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Number of Major Suppliers |
About 3 |
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Main Terms of Payment |
Prompt payment, on credit |
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SC mainly purchases turmeric double ene from
domestic place. With a short history, its cooperation relationship with its
suppliers still needs to be strengthened. |
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The above information was confirmed by SC’s
employee. |
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CREDIT
SC’s workers refused to disclose the specific name and information
of their suppliers. Our investigators failed to get the names of SC’s suppliers
through public channels. Thus, we couldn’t get related payment records.
LITIGATION RECORDS
After
checking with
FINANCE
Since
SC was established in 2011 and it doesn’t reach a financial year, it doesn’t need
to hand in financial statements to the AIC. Thus we couldn’t get its financial
information from the AIC.
INDUSTRY
PROFILE
Industry
SIC Code (
Description: It refers to use biological technologies to manufacture
biochemical drugs and genetically engineered drugs.
Status Quo & Trend
From January to November in
2009, the main business income of the big enterprises in the biological and
biochemical products manufacturing industry reached 75,286,336,000 yuan,
increasing 26.93% year/year. From January to February in 2010, the main
business income of the big enterprises in the biological and biochemical
products manufacturing industry reached 12,926,854,000 yuan, increasing 37.8%
year/year. The biomedical industry in
GENERAL
COMMENTS
Subject Company which was established in Jan,
2011 was a limited liability company. SC mainly deals with the manufacture and
sales of sterold hormones and intermediates. Despite its short history, its
shareholders strong power makes its registered capital scale very big. Thus SC
has a broad development future.
Due to the lack of financial information, we
can’t analyze SC’s financials.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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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NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.