MIRA INFORM REPORT
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Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HUBEI GRANULES BIOCAUSE PHARMACEUTICAL CO.,
LTD. |
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Registered Office : |
No. 122, Yangwan Road, Jingmen, Hubei Province 448000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.03.2007 |
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Com. Reg. No.: |
420800400000266 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture Enterprise |
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Line of Business : |
manufacturing and Selling Chemical Medicine |
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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Maximum Credit Limit : |
USD 700,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 & address
HUBEI GRANULES BIOCAUSE PHARMACEUTICAL CO., LTD.
NO. 122, YANGWAN ROAD, JINGMEN, HUBEI PROVINCE
448000 PR CHINA
TEL: 86 (0) 724-2211780/2211459
FAX: 86 (0) 724-2211459
EXECUTIVE SUMMARY
Date
of Registration : march 5, 2007
REGISTRATION
NO. : 420800400000266
LEGAL
FORM : CHINESE-FOREIGN
EQUITY JOINT VENTURE ENTERPRISE
REGISTERED CAPITAL : CNY 66,000,000
staff :
341
BUSINESS CATEGORY : manufacturing & trading
Revenue :
CNY 199,560,000 (AS
OF DEC. 31, 2010)
EQUITIES :
CNY 84,860,000 (AS OF DEC. 31, 2010)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 700,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
stable
OPERATIONAL TREND : STEADY
GENERAL
REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.47 = USD 1
Adopted abbreviations (as
follows)
SC - Subject Company (the company inquired by you)
N/A – Not available
CNY – China Yuan Ren Min Bi
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
Note: SC’s headquarters address
should be the heading one, while SC’s sales department locates in the given
address (7th Floor, C-District, Golden Trade Center Guandong Garden, 115
Wujiadun, Jianghan District Wuhan 430023 China).
SC was established as a Chinese-foreign equity joint venture
enterprise of PRC with State Administration of Industry & Commerce
(SAIC) under registration No.: 420800400000266 on March 5, 2007.
SC’s Organization Code Certificate No.: 798750272
SC’s registered capital: CNY
66,000,000
SC’s paid-in capital: CNY 66,000,000
No significant changes of SC have been noted in SAIC
since its incorporation.
Current
Co search indicates SC’s shareholders & chief executives are as follows:-
|
Name
of Shareholder (s) |
%
of Shareholding |
|
Granules India Co., Ltd. |
50 |
|
Hubei Biocause Heilen
Pharmaceutical Co., Ltd. |
50 |
SC’s Chief
Executives:-
Legal
Representative, Chairman and General Manager: Xiao Yunhua
RECENT DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name % of Shareholding
Granules India Co., Ltd. 50
Hubei Biocause Heilen Pharmaceutical Co., Ltd. 50
Granules India Co., Ltd.
======================
2nd Floor, 3rd Block.
My Home Hub, Madhapur
Hyderabad - 500 081, India
Phone: +91 40 6676-0000 ext. 169
Fax: +91 40 2311-5145
Web: http://www.granulesindia.com
Hubei Biocause Heilen
Pharmaceutical Co., Ltd.
=======================================
Registration No.: 420800000038623
Legal Representative: Xiao Yunhua
Date of Incorporation: December 29, 1995
Registered Capital: CNY 180,000,000
Address: No. 122 Yangwan Road, Dongbao District, Jingmen, Hubei
Province
Tel: 0724- 2211003
Fax: 0724-2211900
MANAGEMENT
Xiao Yunhua, Legal
Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 49
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman and general manager, also working in HubeiBiocause Hengdi Pharmaceutical Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope includes designing, developing, manufacturing and processing various levels as the API of ibuprofen, as
well as other new products; providing technology support and after-sale
services; selling the above products.
SC is mainly engaged in manufacturing and
selling chemical medicine.
SC’s products mainly include:
brufenum
SC sources its materials 90% from domestic market, and 10%
from overseas market. SC sells 20% of its products in domestic market, and 80%
to overseas market, mainly USA, India, etc.
The buying terms of SC include
Check, T/T, L/C and Credit of 30-45 days. The payment terms of SC include
Check, T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known to
have approx. 341 staff at present.
SC owns an area as its operating
office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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
The bank information of SC is not filed in SAIC.
FINANCIALS
Balance
Sheet
|
Unit: CNY’000 |
As of Dec. 31, 2010 |
|
11,020 |
|
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Accounts receivable |
34,810 |
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Advances to suppliers |
0 |
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Other receivable |
1,150 |
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Inventory |
39,300 |
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Non-current assets within one
year |
0 |
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Other current assets |
1,880 |
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|
------------------ |
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Current assets |
88,160 |
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Fixed assets |
39,820 |
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Construction in progress |
0 |
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Long-term prepaid expenses |
0 |
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Deferred income tax assets |
0 |
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Other non-current assets |
9,480 |
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------------------ |
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Total assets |
137,460 |
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|
============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
11,020 |
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Wages payable |
0 |
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Advances from clients |
240 |
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Other payable |
41,810 |
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Other current liabilities |
-470 |
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------------------ |
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Current liabilities |
52,600 |
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Non-current liabilities |
0 |
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------------------ |
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Total liabilities |
52,600 |
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Equities |
84,860 |
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------------------ |
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Total liabilities & equities |
137,460 |
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|
============= |
Income
Statement
|
Unit: CNY’000 |
As of Dec. 31, 2010 |
|
Revenue |
199,560 |
|
Cost of sales |
180,290 |
|
Sales expense |
2,390 |
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Management expense |
6,450 |
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Finance
expense |
3,580 |
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Profit before tax |
6,140 |
|
Less: profit tax |
630 |
|
5,510 |
Important Ratios
=============
|
|
As of Dec. 31, 2010 |
|
*Current ratio |
1.68 |
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*Quick ratio |
0.93 |
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*Liabilities to assets |
0.38 |
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*Net profit margin (%) |
2.76 |
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*Return on total assets (%) |
4.01 |
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*Inventory / Revenue ×365 |
72 days |
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*Accounts receivable/ Revenue ×365 |
64 days |
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* Revenue/Total assets |
1.45 |
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* Cost of sales / Revenue |
0.90 |
FINANCIAL COMMENTS
PROFITABILITY: AVERAGE
l
The revenue of SC appears fairly good in its line.
l
SC’s net
profit margin is average.
l
SC’s
return on total assets is average.
l
SC’s
cost of goods sold is average, comparing with its revenue.
LIQUIDITY: AVERAGE
l
The current
ratio of SC is maintained in a normal level.
l
SC’s
quick ratio is maintained in a normal level.
l
The
inventory of SC is maintained in an average level.
l
The
accounts receivable of SC is maintained in an average level.
l
SC has
no short-term loan in 2010.
l
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
l
The debt
ratio of SC is low.
l
The risk
for SC to go bankrupt is average.
Overall financial condition of the SC:
Stable.
CONCLUSIONS
SC is considered medium-sized
in its line with stable financial conditions.
Taking into consideration of SC’s general performance, reputation as well as
market conditions, a credit line up to USD 700,000
would appear to be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
RATING EXPLANATIONS
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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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.