MIRA
INFORM REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
HENAN LIHUA PHARMACEUTICAL
CO., LTD. |
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Registered Office : |
Middle Of Huanghe Street, Hi-Tech Industry Development Zone, Anyang City, Henan Province, 455000 Pr |
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Country : |
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Date of Incorporation : |
27.05.1994 |
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Com. Reg. No.: |
410000400000422 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture |
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Line of Business : |
Manufacturing and selling prednisone, prednisolone, hydrocortisone and their derivatives. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30, 2010
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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 |
Name and address
HENAN
LIHUA PHARMACEUTICAL CO., LTD.
MIDDLE OF
TEL: 86 (0) 372-2595136/3664975 FAX: 86 (0) 372-2595138
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
27, 1994
REGISTRATION NO. :
410000400000422
REGISTERED LEGAL FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE
STAFF STRENGTH : 500
REGISTERED CAPITAL : CNY 8,350,000
BUSINESS LINE : MANUFACTURING AND TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.60330=USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY –
SC was registered as a Chinese-foreign equity joint venture enterprise at local
Administration for Industry & Commerce (AIC-The official body of issuing
and renewing business license) on May 27, 1994.
Company Status: Chinese-Foreign Equity Joint Venture This form of business in PR China
is defined as a legal person. It is a limited co. jointly invested by one
or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition position
in international market may extend beyond the 50 years limit.
SC’s registered business scope includes manufacturing
and selling prednisone acetate API, cortisone acetate API, prednisone API,
prednisolone API, hydrocortisone acetate API, hydrocortisone API, prednisolone
acetate API, hydrocortisone sodium succinate API, butyric acid hydrocortisone
API, betamethasone API, betamethasone sodium phosphate API, prednisolone sodium
phosphate API, triamcinolone API, triamcinolone acetonide API and ionic liquid.
SC is
mainly engaged in manufacturing and selling prednisone, prednisolone,
hydrocortisone and their derivatives.
Mr. Li
Yong is legal representative and
chairman of SC at present.
SC is known
to have approx. 500 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and factory in the hi-tech industry development zone of
Anyang. Detailed information of the premise is unknown.
http://www.hnlihua.com/
The design is professional and the content is well organized. At present it is
both in Chinese and English versions.
Email: lhpco@vip.sina.com
/ henanlihua@vip.sina.com
Certificates:
=========
Henan Lihua has obtained GMP certificate issued by SFDA in 2002, ISO9001
certificate in 2003, CEP certificate of Prednisolone in 2003, ISO14001 certificate
in 2005, GMP certificate issued by
No significant events or changes were found during our checks with the
local AIC.
*To what extent is
your company affected by the current Credit Crisis?
SC’s management refused to answer this question.
MAIN SHAREHOLDERS:
Name
%
of shareholdings
Virgin Jinlian Co., Ltd. (B.V.I.) (In
Chinese Pinyin) 22
Maikete (British Cayman) Co., Ltd. (
Funiya (British Cayman) Co., Ltd. (
================================
Establishment Date: May 11, 2006
Chief Executive: Feng Wenzhong
Registered Capital: CNY 30,000
l
Legal Representative and Chairman:
Mr. Li Yong is currently
responsible for the overall management of SC.
Working Experience(s):
At present
Working in SC as legal representative and chairman.
SC is mainly
engaged in manufacturing and selling prednisone, prednisolone, hydrocortisone
and their derivatives.
SC’s products
mainly include: prednisolone series, prednisone series, cortisone series, beta
series, ionic liquids, and etc.
SC sources its
materials 100% from domestic market. SC sells 20% of its products in domestic
market, and 80% to overseas market, mainly Europe,
The buying terms of SC include Check, 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.
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.
SC’s financial reports
were not found during our checks with the local Administration for Industry and
Commerce.
SC’s management
declined to release any financial information.
SC is considered medium-sized in its line with 17 years operation
history. Taking into consideration of SC’s development history, background and
operation size, credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.67 |
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1 |
Rs.69.45 |
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Euro |
1 |
Rs.59.37 |
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.