MIRA
INFORM REPORT
|
Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI TECHWELL BIOPHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 4258, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.04.2001 |
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Com. Reg. No.: |
310112000300308 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing Biological & Chemical Active
Pharmaceutical Ingredient, Chemical Medicine, Biological Products, and
Pharmaceutical Intermediate. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,000,000 |
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Status : |
Satisfactory |
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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) |
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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 |
company name and address
SHANGHAI TECHWELL BIOPHARMACEUTICAL CO., LTD.
NO. 4258,
TEL: 86 (0) 21-54427100
FAX: 86 (0) 21-54426560
EXECUTIVE SUMMARY
Date of Registration :
APRIL 25, 2001
REGISTRATION NO. :
310112000300308
LEGAL FORM :
Limited liabilities company
CHIEF EXECUTIVE :
JI XIAOMING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 25,000,000
staff :
158
BUSINESS CATEGORY :
manufacturing
Revenue :
CNY 121,147,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 187,843,000 (AS OF DEC. 31, 2010)
WEBSITE :
www.techwellpharma.com
E-MAIL :
sales@techwellpharma.com; market@techwellpharma.com
PAYMENT :
AVERAGE
Recommended Credit Limit :
UP TO USD 1,000,000
MARKET CONDITION :
competitive
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND :
steady
GENERAL REPUTATION :
FAIRLY GOOD
EXCHANGE RATE :
CNY 6.38 = USD 1
Adopted abbreviations
(as
follows)
SC - Subject Company (the company inquired by you)
N/A – Not available
CNY –
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC
in respect of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a limited liabilities company of PRC
with State Administration of Industry & Commerce (SAIC) under registration
No.: 310112000300308 on April 25, 2001.
SC’s Organization Code Certificate No.: 70327459-3
SC’s Tax No.: 310112703274593
SC’s registered capital: CNY 25,000,000
SC’s paid-in capital: CNY 25,000,000
Registration Change Record:
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
2002-08 |
Registered Capital |
CNY 10,000,000 |
CNY 25,000,000 |
|
2004-09 |
Legal Representative |
Mei Minquan |
Yu Xiong |
|
2005-05 |
Shareholder (s) (% of Shareholding) |
Shanghai Modern Pharmaceutical Mei Minquan 45% |
Shanghai Modern Pharmaceutical Mei Yi 10% Ji Xiaoming 9.78% Gao Xiaoliang 6.64% Mo Zhengming 18.58% |
|
2008-03 |
(% of Shareholding) |
Shanghai Modern Pharmaceutical Mei Yi 10% Ji Xiaoming 9.78% Gao Xiaoliang 6.64% Mo Zhengming 18.58% |
Shanghai Modern Pharmaceutical Mei Yi 4% Ji Xiaoming 12.68% Gao Xiaoliang 6.94% Mo Zhengming 21.38% |
|
2011-05 |
Legal Representative |
Yu Xiong |
Ji Xiaoming |
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name
of Shareholder (s) |
% of
Shareholding |
|
Shanghai Modern Pharmaceutical Co., Ltd. |
55.00 |
|
Mei Yi |
4.00 |
|
Ji Xiaoming |
12.68 |
|
Gao Xiaoliang |
6.94 |
|
Mo Zhengming |
21.38 |
SC’s
Chief Executives:-
|
Position |
Name |
|
Legal Representative and Vice Chairman |
Ji Xiaoming |
|
Chairman |
Wei Baokang |
|
Director |
Yu Xiong |
|
Pan Zhenyun |
|
|
Fu Min |
|
|
Gao Xiaoliang |
|
|
Mo Zhengming |
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|
Ji Xiaoming |
|
|
Wei Baokang |
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Supervisor |
Lu Youming |
|
Xiao Bin |
|
|
Jin Canhuang |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shanghai Modern Pharmaceutical Co., Ltd. 55.00
Mei Yi 4.00
Ji Xiaoming 12.68
Gao Xiaoliang 6.94
Mo Zhengming 21.38
Shanghai
Modern Pharmaceutical Co., Ltd.
Registration No.: 310000000048680
Date of Registration: December 20, 2000
Legal Form: Shares Limited Company
Registered Capital: CNY 287,733,000
Legal Representative: Zhou Bin
Shanghai Modern Pharmaceutical Co., Ltd. from Shanghai
Institute of Pharmaceutical Industry as the main sponsor, the Joint National
Engineering Research Center for Pharmaceutical Preparations, Shanghai Ruijin
Hospital, Hiroji medical high-tech company's five co-sponsored enterprises and
to market-oriented high-tech pharmaceutical companies. The company in 1997 was
assessed as high-tech enterprises in
Address: No. 858,
Tel: 86 (0) 21-62510990
Fax: 86 (0) 21-62510787
Web: www.shyndec.com
MANAGEMENT
Ji Xiaoming, Legal Representative and Vice Chairman
Gender: M
Age: 38
Working experience (s):
At present, working in SC as legal representative and vice
chairman
As director of SC at present
Wei Baokang, Chairman
Gender: M
Age: 43
Qualification: Master’s Degree
Working experience (s):
At present, working in SC as chairman
Also working in Shanghai Modern Pharmaceutical Co., Ltd. as
general manager
As director of SC and Shanghai Modern Pharmaceutical Co.,
Ltd. at present
Yu Xiong, Director
Gender: M
Age: 50
Qualification: Master’s Degree
Pan Zhenyun, Director
Gender: M
Age: 40
Qualification: Master’s Degree
Fu Min, Director
Gender: F
Age: 40
Qualification: Master’s Degree
Gao Xiaoliang, Director
Gender: M
Age: N/a
Qualification: N/a
Mo Zhengming, Director
Gender: M
Age: N/a
Qualification: N/a
Supervisors
Lu Youming
Xiao Bin
(Also working in Shanghai Modern Pharmaceutical Co., Ltd. as
CFO)
Jin Canhuang
BUSINESS OPERATION
SC’s registered business scope
includes manufacturing biological & chemical active
pharmaceutical ingredient, chemical medicine, biological products, and
pharmaceutical intermediate; importing and exporting commodities and
technology.
SC is mainly engaged in manufacturing and selling active
pharmaceutical ingredient and pharmaceutical intermediate.
SC’s products mainly include:
Urine derived products
Antineoplastics
Prostaglandins
Antifungals
All products have been indexed into
"Chinese export catalogue of High & New Technology products ".
SC sources its materials 100% from domestic market. SC sells
60% of its products in domestic market, and 40% to overseas market, mainly
The buying terms of SC include T/T and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff
& Office:
--------------------------
SC is known to have approx. 158 staff at present.
SC rents an area as its operating office and factory, but
the detailed information is unknown.
RELATED COMPANY
Shanghai Polymer Pharma-ceutical & Excipient Co., Ltd.
Registration No.: 310228000389684
Date of Registration: September 19, 2000
Legal Form: Limited Liabilities Company
Registered Capital: CNY 4,300,000
Legal Representative: Gong Zhong Address: No.488 JiuGong
Road Shanghai Jinshan Industrial Zone
Tel: 86 (0) 21-57277208
Fax: 86 (0) 21-57277217
Web: www.plmpharm.com
E-mail: wenhua2003@vip.sina.com
Shanghai
Registration No.: 310106000120699
Date of Registration: July 16, 2001
Legal Form: State-owned
Registered Capital: CNY 36,920,000
Legal Representative: Wang Hao
Address: No.1320,
Tel: 86 (0) 21-62479808
Fax: 86 (0) 21-62791715
Web: www.sipi.com.cn
Shanghai Modern Hasen (Shangqiu) Pharmaceutical Co., Ltd.
Shanghai Modern Hasen (Shangqiu) Pharmaceutical Co., Ltd. is
a listed company Shanghai Modern Pharmaceutical Co., Ltd. (stock code: 600 420)
investment holding company formed, the major shareholder of the Shanghai
Institute of Pharmaceutical Industry, is the pharmaceutical industry have a
certain brand well-known pharmaceutical R & D, production and sales of new
pharmaceutical company.
Address: Shangqiu City
Sales Department: 86 (0) 370-2611749
Merchants Department: 86 (0) 370-2920001
Raw Materials Department: 86 (0) 370-2920005
Fax: 86 (0) 370-2617031
Letter Box: hasen-modern@163.com
Website: http://www.hasen-modern.com.cn
Etc.
PAYMENT
Overall payment appraisal:
( ) Excellent ( )
Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
Basic Bank:
Industrial and Commercial Bank of
AC#：022663-1001266309200001987
FINANCIALS
Balance
Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
55,580 |
39,403 |
|
|
Notes receivable |
278 |
954 |
|
Accounts receivable |
11,488 |
11,063 |
|
Advances to suppliers |
7,104 |
12,874 |
|
Other receivable |
468 |
320 |
|
Inventory |
43,325 |
65,849 |
|
Non-current assets within one
year |
0 |
0 |
|
Deferred expense |
0 |
0 |
|
Other current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Current assets |
118,243 |
130,463 |
|
Fixed assets |
46,759 |
55,949 |
|
Construction in progress |
808 |
3,666 |
|
Intangible assets |
15,755 |
15,406 |
|
Long-term investment |
0 |
0 |
|
Deferred income tax assets |
109 |
182 |
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Other non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
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Total assets |
181,674 |
205,666 |
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============= |
============= |
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Short-term loans |
10,000 |
10,000 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
1,079 |
1,537 |
|
Payroll payable |
1,500 |
2,027 |
|
Interest payable |
16 |
15 |
|
Taxes payable |
37 |
1,578 |
|
Advances from clients |
30 |
877 |
|
Other payable |
138 |
1,019 |
|
Other unpaid expenses |
0 |
0 |
|
Accrued expenses |
0 |
0 |
|
Other current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current liabilities |
12,800 |
17,053 |
|
Non-current liabilities |
780 |
770 |
|
|
------------------ |
------------------ |
|
Total liabilities |
13,580 |
17,823 |
|
Equities |
168,094 |
187,843 |
|
|
------------------ |
------------------ |
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Total liabilities &
equities |
181,674 |
205,666 |
|
|
============= |
============= |
Income
Statement
|
Unit:
CNY’000 |
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
Revenue |
107,281 |
121,147 |
|
Cost of sales |
49,420 |
56,588 |
|
Sales expense |
1,432 |
1,660 |
|
Management
expense |
16,769 |
19,905 |
|
Finance expense |
28 |
82 |
|
Profit before tax |
43,633 |
46,109 |
|
Less: profit tax |
5,134 |
6,360 |
|
38,499 |
39,749 |
Important
Ratios
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
*Current ratio |
9.24 |
7.65 |
|
*Quick ratio |
5.85 |
3.79 |
|
*Liabilities to assets |
0.07 |
0.09 |
|
*Net profit margin (%) |
35.89 |
32.81 |
|
*Return on total assets (%) |
21.19 |
19.33 |
|
*Inventory / Revenue ×365 |
148
days |
199
days |
|
*Accounts receivable/ Revenue ×365 |
40
days |
34
days |
|
* Revenue/Total assets |
0.59 |
0.59 |
|
* Cost of sales / Revenue |
0.46 |
0.47 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
The revenue of SC appears fairly good, and it increased in 2010.
SC’s net profit margin is fairly good in both years.
SC’s return on total assets is fairly good in both years.
SC’s cost of goods sold is low, comparing with its revenue.
LIQUIDITY:
FAIRLY GOOD
The current ratio of SC is maintained in a fairly good level
in both years.
SC’s quick ratio is maintained in a fairly good level in
both years.
The inventory of SC appears large.
The accounts receivable of SC appears average.
The short-term loans of SC appear average.
SC’s revenue is in a fair level, comparing with the size of
its total assets.
LEVERAGE:
FAIRLY GOOD
The debt ratio of SC is low in both years.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good
financial conditions. The large amount of inventory may be a threat to SC’s
financial condition. Taking into consideration of SC’s general performance,
reputation as well as market conditions, a credit line up to USD 1,000,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
|
|
1 |
Rs.75.14 |
|
Euro |
1 |
Rs.66.67 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.