MIRA
INFORM REPORT
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Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ANHUI TOPSUN PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 18 Tiandong Road (No. 1 Zhenxing Road), Economic & Technological
Development Zone, Huainan City, Anhui Province, 232007 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.10.1998 |
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Com. Reg. No.: |
340404000001552 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling pharmaceutical raw material. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 and
addres
ANHUI
TOPSUN PHARMACEUTICAL CO., LTD.
NO. 18 TIANDONG ROAD (NO. 1 ZHENXING ROAD),
ECONOMIC & TECHNOLOGICAL DEVELOPMENT ZONE, HUAINAN CITY, ANHUI PROVINCE,
232007 PR CHINA
TEL: 86 (0) 554-3311427/3312862 FAX: 86 (0) 554-3311021
EXECUTIVE SUMMARY
INCORPORATION DATE : OCT. 14, 1998
REGISTRATION NO. : 340404000001552
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 300
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
CNY 43,341,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 29,835,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 200,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : FAIRLY
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.39160=USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY – China Yuan Ren Min Bi
SC was registered as a limited liabilities co. at local Administration for Industry &
Commerce (AIC-The official body of issuing and renewing business license) on
Oct. 14, 1998.
Company Status: Limited Liabilities Co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. 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 CNY 30,000. 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 30% 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 permitted
operating item: troche, capsule and crude drug. General operating items:
exporting self-made products, importing self-needed machinery equipment, spare parts
and raw material.
SC
is mainly engaged in manufacturing and selling pharmaceutical raw material.
Mr.
Zhang Bin has been legal representative
and chairman of SC since 2010.
SC is known
to have approx. 300 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the economic & technological development
zone of Huainan. Our checks reveal that SC owns the total premise, but SC’s
accountant refused to release the gross area.
http://www.ahtopsun.com/
The design is professional and the content is well organized. At present it is
both in Chinese and English versions.
Honors:
======
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered No. |
3404001102645 |
Present one |
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Company Name |
China National Medicines Guoyi Pharmaceutical Co., Ltd. |
Present one |
|
Legal Representative |
Bao Huanlin |
Guo Jiaxue |
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|
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Registered Capital |
CNY 6,000,000 |
Present amount |
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|
Legal Representative |
Guo Jiaxue |
Present one |
MAIN SHAREHOLDERS:
Name
%
of shareholdings
Topsun Science and Technology Co., Ltd. 95
Shaanxi Topsun Medicine Co., Ltd. (Literal
Translation) 5
Topsun Science and Technology Co., Ltd.
==============================
The company is a listed company in Shanghai
Stock Exchange Market and its stock code is: 600771.
Registration No. : 630000100005561
Establishment Date:
Chief Executive: Zhang Bin
Registered Capital: CNY 243,808,000
Add: Topsun Building, No. 23 Tangyan Road,
Xi’an City
Tel: 029-88332288
Fax: 029-88330835
Website: http://www.topsun.com/
Email: zcb@topsun.com
l
Legal Representative and Chairman:
Mr. Zhang Bin , born in 1972 with master’s degree, he is currently
responsible for the overall management of SC.
Working Experience(s):
From 2010 to present Working in SC as legal representative
and chairman.
Also working in Topsun Science and Technology Co.,
Ltd. as legal representative.
SC
is mainly engaged in manufacturing and selling pharmaceutical raw material.
SC’s products mainly
include: niclosamide piperazine salt, 50% niclosamide W.P., 70% niclosamide
W.P., niclosamide tech. grade, niclosamide monohydrate, paracetamol,
niclosamide ethanolamine salt, and etc.
SC sources its
materials 80% from domestic market, and 20% from overseas markets, mainly
Southeast Asia. SC sells 60% of its products in domestic market, and 40% to
overseas market, mainly Southeast Asia.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, L/C, T/T, and Credit of 30-60 days.
Note: SC’s employee refused to release its
major customers or suppliers.
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 management declined
to release its bank details.
Financial Summary
===============
Unit: CNY’000
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|
As
of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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Total liabilities |
16,476 |
14,524 |
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Equities |
26,973 |
29,835 |
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|
-------------- |
-------------- |
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Total assets |
43,449 |
44,359 |
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========= |
========= |
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Turnover |
43,852 |
43,341 |
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Profit before tax |
3,407 |
3,099 |
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Less: profit tax |
84 |
237 |
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Profits |
3,323 |
2,862 |
Note: SC’s detail financial reports were not found
at local AIC.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As of Dec. 31, 2010 |
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*Liabilities
to assets |
0.38 |
0.33 |
|
*Net profit
margin (%) |
7.58 |
6.60 |
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*Return on total
assets (%) |
7.65 |
6.45 |
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*Turnover/Total
assets |
1.01 |
0.98 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line in
both 2 years.
l
SC’s net profit margin appears fairly good in both 2
years.
l
SC’s return on total assets appears fairly good in
both 2 years.
l
SC’s turnover is in an average level, comparing
with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in both 2 years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 200,000 appears to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.77 |
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|
1 |
Rs.75.57 |
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Euro |
1 |
Rs.65.97 |
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 |
|
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.