MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
Guangxi
Wonder Pharmacy Stock Co., Ltd. |
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Registered Office : |
no. 152,
Wuhua Avenue, Asean Economic Development Zone, Nanning, Guangxi Zhuang Autonomous Region, 530105 PR |
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Country : |
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Date of Incorporation : |
12.05.2005 |
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Com. Reg. No.: |
450000400002724 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing,
Marketing, Customized Synthesizing and Contract Manufacturing Corticosteroids
and Steroidal 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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Maximum Credit Limit : |
USD 150,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
Company name and address
Guangxi Wonder Pharmacy Stock Co.,
Ltd.
no. 152,
TEL: 86 (0) 771- 6315818 / 6304888
FAX: 86 (0) 771-69301988 / 6315828
EXECUTIVE SUMMARY
INCORPORATION DATE : may
12, 2005
REGISTRATION NO. : 450000400002724
REGISTERED LEGAL FORM :
SHARES LIMITED COMPANY
STAFF STRENGTH : 150
REGISTERED CAPITAL :
CNY 43,500,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 31,349,000 (AS OF DEC. 31, 2009)
EQUITIES : CNY 56,709,000 (AS OF DEC. 31, 2009)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : average
FINANCIAL CONDITION :
fairly stable
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY
6.58 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
Note: the given address (Nanning Overseas
Chinese Investment Zone,
SC was registered as a Shares
Limited Company at Guangxi Zhuang Autonomous Region Administration for industry
& commerce (AIC - the official body of issuing and renewing business
license) on May 12, 2005.
Company Status: 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 co has independent
property of legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in The minimum registered capital
of a co. is CNY The board of directors must
consist 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
one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes manufacturing and selling API of dexamethasone and
betamethasone and steroid hormone, intermediate for pharmaceutical.
SC is mainly engaged
in manufacturing and selling active pharmaceutical ingredients.
Mr. Wang Yuanqiu is chairman of SC at present.
SC is known to have approx. 150 employees at
present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the economic development zone of Nanning. Our checks reveal that SC owns the total premise about
200,000 square meters.
http://gxwonder.com/ The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
Email: info@gxwonder.com gxwonder@gmail.com
Changes of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
|
Registered capital |
CNY 30,000,000 |
CNY 43,500,000 |
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Unspecified |
Registration No. |
003597 |
The present one |
SC is also known as Guangxi Wonder Pharmaceuticals Co., Ltd.
MAIN SHAREHOLDERS:
Dongfang Sisal Group Co., Ltd.
of
Haijielian (
Wang Yuanqiu (Canadian)
Wang Zeyin (Canadian)
Wang Zezhen (Canadian)
Note:
SC’s shareholding percentage were not found at local AIC.
Dongfang Sisal Group Co., Ltd.
of
=========================================
Dongfang Sisal Group Co., Ltd.
Of
Web: http://www.dongfang-sisal.com/
Email: dfjm@pub.zhanjiang.gd.cn
Tel: 0759-2628835 2628893
2628892
Fax: 0759-2628870
Haijielian (
============================================
Registration no.:
450100400001654
Legal representative: Wang Yuanqiu
Date of incorporation: June 3,
2002
- Chairman
& General Manager:
Mr. Wang Yuanqiu, Canadian, born in 1952 with
university education. He is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC as chairman and general manager
Also working in Haijielian (
SC is specialized
in researching, manufacturing, marketing, customized synthesizing and contract
manufacturing Corticosteroids and steroidal intermediates.
SC’s products mainly
include Dexamethasone, Betamethasone, Epiandrosterone, Dexamethasone Acetate,
and so on.
SC sources its materials 100%
from domestic market. SC sells 70% of its products in domestic market, and 30%
to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note: SC’s
management declined to release its customer and supplier details.
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 records 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.
At local AIC,
the bank information of SC is not available.
Financial
Information
Unit: CNY’000
|
|
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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Long-term
liabilities |
29,500 |
45,000 |
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Total
liabilities |
30,407 |
-46,732 |
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Shareholders
equities |
53,906 |
56,709 |
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Total Assets |
84,313 |
9,977 |
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Turnover |
6,783 |
31,349 |
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Profit before
tax |
-93 |
1,134 |
|
Net profit |
-93 |
1,134 |
Note: SC’s detail
financial reports were not found at local AIC.
Important Ratios
=============
|
|
as of Dec. 31,
2008 |
as of Dec. 31,
2009 |
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*Liabilities
to assets |
0.36 |
-4.68 |
|
*Net profit
margin (%) |
-1.37 |
3.62 |
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*Return on
total assets (%) |
-0.11 |
11.37 |
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*Turnover/Total
assets |
0.08 |
3.14 |
PROFITABILITY: AVERAGE
- The turnover of SC
appears fairly good in its line, and it increased largely in 2009.
- SC’s net profit margin is fair in 2008, but average in 2009.
- SC’s return on
total assets is fair in 2008, but average in 2009.
- SC’s turnover is in a fairly good level in 2009, comparing with the
size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in 2008.
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 150,000 appears to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.16 |
|
Euro |
1 |
Rs.61.88 |
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 Company |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.