MIRA INFORM REPORT
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Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
WINCHEM PHARMACEUTICAL & CHEMICAL COMPANY
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31.05.2010 |
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Com. Reg. No.: |
421000000074403 |
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Legal Form : |
Shares Limited Company
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Line of Business : |
Manufacture and sales
of chemical raw materials and medical intermediates |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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China |
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 |
Company name & address
WINCHEM PHARMACEUTICAL &
CHEMICAL COMPANY INC.
434000
Tel : 86
716 8303013
Fax 86 716 8303480
Website www.jznengte.com
Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.55 Chinese Yuan
"--"in this report indicates "unavailable" due to
insufficient information or "no comments"
EXECUTIVE
SUMMARY
DATE OF
establishment : may 31st,
2010
Aic
Registration No. : 421000000074403
REGISTERED
LEGAL FORM : Shares
limited co
REGISTERED
CAPITAL : 33,850,000.00
main BUSINESS : manufacture and sales of chemical raw
materials and
medical
intermediates
employees :
150
import
and export
permits :
yes
base
CREDIT limit : 0
EXCHANGE
RATE : 1 Usd=6.55 CNY
(apr 2nd, 2011)
Registered
Address:
Telephone: 86 716 13886612222
Business
Telephone: 86 716 8303013
Fax: 86 716
8303480
SIC Code (
REGISTRATION
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Date of Establishment |
May 31st,
2010 |
|
Registry |
Administration Bureau of Industry and Commerce - Jingzhou |
|
Legal Representative |
Chen
Liequan |
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AIC Registration Number |
421000000074403 |
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Registered Legal Form |
Shares limited co. |
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Registered Capital |
33,850,000.00 |
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Operating Period |
From May 31st, 2010 to -- |
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Business Scope |
Research,
manufacture and sales of new pharmaceutical intermediate technology products
(excluding those forbidden by the government), technology service and
transfer of related technology. Import and export of goods and technology
(excluding those forbidden by the government) |
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Changes in Registration |
May 31st, 2010 Subject’s business scope was changed from research,
manufacture and sales of new pharmaceutical intermediate technology products
(excluding those forbidden by the government), technology service and
transfer of related technology. to the
present business scope. |
Shares
limited co.
This form of business in PR China is defined
as a legal person. Its registered capital is divided into shares of equal par
value and the co. raises capital by issuing share certificates by promotion or
by public offer. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to the extent of its
total assets. The characteristics of the shares limited co. are as follows:
The establishment of the co. requires at
least five promoters and at least three of them must be PR- China controlled
legal persons. Natural person can not be allowed to serve as promoters.
The minimum registered capital of a co. is
RMB
The board of directors must consist of an odd
number of five to nineteen directors.
If the co. raises capital by public offer,
the promoters must not subscribe less than 35% of the total shares. the
promoters’ shares are restricted to transfer- within three years of the offer.
Directors can not transfer the shares they hold in the co. during their terms
of office.
A state-owned enterprise that is restructured
into a shares limited co. must comply with the conditions & requirements
specified under the law & administrative rule.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
FIELD INVESTIGATION
1.
Subject’s income comes mainly from pharmaceutical raw materials, medical
intermediates, chiral compounds. These occupied 80% of its income. Another 20%
comes from sales of other special chemicals. Its sales are developed directly
to the end users including pharmaceutical and chemical manufacturers. The
industry of chemical raw material and medical intermediates is an industry with
fierce competition. In addition, SC has only established for a short time.
However, as subject’s predecessor (Jingzhou Winchem Pharm.& Chem. Co., Ltd)
had developed into a large development
scale and enjoys certain reputation and customer base in the local industry, SC’s
competitiveness in the local industry is above average.
2. Jingzhou, where SC is located, is a big city in
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital Subscribed |
Percentage |
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Qin Huiling |
1,184,700.00 |
3.5% |
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Wang Zhiyuan |
2,369,500.00 |
7.0% |
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Zhang Wenqi |
4,739,000.00 |
14.0% |
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Cai Heting |
3,554,300.00 |
10.50% |
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Chen Liequan |
11,221,300.00 |
33.15% |
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Yang Zhicheng |
10,781,200.00 |
31.85% |
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Total |
33,850,000.00 |
100% |
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Shareholder |
Way of investment |
Paid-up Percentage |
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Qin Huiling |
Entity |
100% |
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Wang Zhiyuan |
Entity |
100% |
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Zhang Wenqi |
Entity |
100% |
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Cai Heting |
Entity |
100% |
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Chen Liequan |
Capital |
100% |
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Yang Zhicheng |
Capital |
100% |
Background of major shareholder
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Name |
Chen Liequan |
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Gender |
Male |
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Date of Birth |
July 19th, 1963 |
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ID NO. |
421081196307190617 |
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Name |
Cai Heting |
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Gender |
Male |
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Date of Birth |
Mar 5th, 1940 |
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ID NO. |
320504194003052531 |
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Name |
Yang Zhicheng |
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Gender |
Male |
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Date of Birth |
Jan 25th, 1947 |
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ID NO. |
421081194701250615 |
MANAGEMENT
|
Name |
Chen
Liequan |
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Title |
Legal Representative |
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Gender |
Male |
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ID No. |
421081196307190617 |
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Date of birth |
July 19th, 1963 |
AFFILIATES
No affiliate of Subject
Company was found after check with the AIC.
NUMBER OF EMPLOYEES
Employees: 150
Recent Recruitment： Yes
Recruitment Post: OA Engineers,
Storage assistant,
Sales Staff,
International trade
Assistant,
R&D staff.
BANKERS INFORMATION
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Bank Name |
Jingzhou Commercial Bank – Yinhai Branch |
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Account No. for Chinese Yuan |
676130100100073983 |
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Telephone of the person investigated |
86 716 8124559 |
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Comment |
The investigated person confirmed subject opened an account in the
above bank. Subject’s daily settlement is normal. |
OFFICE FACILITIES
Geographic
Location: SC is located in
Property Ownership: self-owned
MAIN
PRODUCTS & SERVICES
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Main business |
Manufacture and sales of
chemical raw materials and medical intermediates |
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Products and services |
SC mainly manufactures and sales of
chemical raw materials and medical intermediates. Its main products
include lobelines, gliquidones
amine, disulfide, boron, etc. It can produce |
SALES
INFORMATION
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Percentage of domestic sales |
80% |
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Regions |
All over |
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Major domestic clients |
Large pharmaceutical factory |
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Sales Terms: |
Prompt payment; on credit |
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Percentage of international sales |
20% |
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Regions |
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Sales Terms |
L/C , T/T |
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Subject’s products are mainly sold domestically. Its clients are mainly
large pharmaceutical manufacturers,
such as AMERICAN MERCK INC, SIGMA-ALDRICH. INC etc. |
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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 |
PH
meter, conductivity meter, dissolved
oxygen meter, etc. |
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Number of Major Suppliers |
About 5 |
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Major Suppliers |
ANHUI SAIKE ENVIRONMENT TECHNOLOGY CO. LTD, CHONG AN CHUANGKE
ELECTRICAL EQUIPMENT BUSIESS DEPARTMENT |
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Main Terms of Payment |
Prompt payment; on credit |
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Subject
company’s suppliers are main domestic suppliers. SC now cooperates well with
some of its suppliers. |
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The
above information was confirmed by SC’s employee |
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CREDIT
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Name of supplier |
ANHUI SAIKE ENVIRONMENT TECHNOLOGY CO. LTD |
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Main commodities supplied |
PH meter, conductivity
meter, dissolved oxygen meter, etc |
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Post of interviewee |
Sales staff |
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Tel |
86 551 5281199 |
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Remarks of interviewee |
The sales staff of this company confirmed the cooperation relationship
with subject and SC’s credit status is normal. |
LITIGATION RECORDS
After checking with
FINANCE
SC was established in
May, 2010 and doesn’t reach a financial year. No financial information can be
obtained from the AIC. Therefore no financial information and recommended
credit limit is provided in this report.
INDUSTRY
PROFILE
Industry
SIC Code (
Description: manufacture of
organic intermediate, HC and halogen derivative, alcohol, phenol and the derivative, ether, ketone, amides, organic
phosphate, organic compound, salt etc.
Status Quo & Trend
From January to March 2010, the export value of chemicals of
GENERAL
COMMENTS
Subject was registered in May 2010. Its main business is manufacture and
sales of chemical raw materials and medical intermediates. Despite its short
history, SC’s development future is expected to be good due to the strong background
of its predecessor Jingzhou Winchem Pharm. & Chem. Co., Ltd.
Financial analysis can’t be provided due to
lack of financial information.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.61 |
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1 |
Rs.75.32 |
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Euro |
1 |
Rs.65.68 |
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 |
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.