MIRA
INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG GUOBANG PHARMACEUTICAL CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
13.12.2006 |
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Com. Reg. No.: |
370700228073580 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Developing & researching, manufacturing, and selling pharmaceutical raw materials, pharmaceutical intermediates, and chemical products; importing and exporting goods and technology. |
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No. of Employees : |
480 |
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 800,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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China
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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
SHANDONG GUOBANG PHARMACEUTICAL CO., LTD.
NO. 77 XINGHAI STREET, ADVANCED MANUFACTURING INDUSTRIAL PARK BINHAI ECONOMIC DEVELOPMENT ZONE
WEIFANG, SHANDONG PROVINCE 261000 PR CHINA
TEL: 86 (0) 536-7573288/7573999
FAX: 86 (0) 536-7573288
EXECUTIVE SUMMARY
Date of Registration : december 13, 2006
REGISTRATION NO. : 370700228073580
LEGAL FORM : Shares limited company
REGISTERED CAPITAL : cny 78,000,000
staff :
480
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 240,810,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 104,890,000 (AS OF DEC. 31, 2010)
WEBSITE : www.sdgbpharm.com
E-MAIL :
gb@sdgbpharm.com
PAYMENT :
AVERAGE
Recommended Credit Limit: UP TO USD 800,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : FAIRLY GOOD
EXCHANGE RATE :
CNY 6.44 = 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
SC was established
as a shares limited company of PRC with State Administration of Industry &
Commerce (SAIC) under registration No.: 370700228073580 on december 13, 2006.
SC’s Organization Code Certificate No.:
796196618
SC’s registered capital: cny 78,000,000
SC’s paid-in capital: cny 78,000,000
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 |
|
Guobang Pharmaceutical Chemical Group Co.,
Ltd. |
51.28 |
|
Gong Yuda |
15.58 |
|
Zhu Yaqing |
13.34 |
|
Qiu Jiajun |
14.74 |
|
Jin Biao |
5.06 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Zhu Yaqing |
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Directors/Supervisors |
Gong Yuda |
|
Qiu Jiajun |
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|
Jin Biao |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Guobang Pharmaceutical Chemical Group Co.,
Ltd. 51.28
Gong Yuda 15.58
Zhu Yaqing 13.34
Qiu Jiajun 14.74
Jin Biao 5.06
Guobang Pharmaceutical Chemical Group Co.,
Ltd.:
======================================
Date of Registration :
March 29, 1996
Registration No. :
330600400009418
Legal Form : Chinese-foreign Equity Joint Venture
Enterprise
Registered Capital :
USD 9,295,900
Address: No.2-12 Dongchang West Road,
Chengguan Town, Xinchang County, Shaoxing City, Zhejiang Province
Tel: 86 0575-86124548/
MANAGEMENT
Zhu Yaqing , Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 44
Ø
ID# 330624196701060012
Ø
Qualification:
University
Ø
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Also as
director in Zhejiang Guobang Pharmaceutical Co., Ltd., working in Xinchang
Guobang Enterprise Management Co., Ltd., and Xinchang Guobang Import and Export
Co., Ltd. as legal representative
Directors/Supervisors
-----------------------------
Gong Yuda
ID# 330623196807165414
(Working in Xinchang Guobang Financial Management Consulting Co., Ltd.
as legal representative)
Qiu Jiajun
ID# 320106196505012054
(Working in Zhejiang Guobang Pharmaceutical Co., Ltd. and Xinchang Hebao
Biotechnology Co., Ltd. as legal representative)
Jin Biao
ID# 330624194808050018
(Also as director of Zhejiang Guobang Pharmaceutical Co., Ltd.)
BUSINESS OPERATION
SC’s registered business scope includes developing &
researching, manufacturing, and selling pharmaceutical raw materials,
pharmaceutical intermediates, and chemical products; importing and exporting
goods and technology.
SC is mainly
engaged in manufacturing and selling pharmaceutical raw materials,
pharmaceutical intermediates, and chemical products.
Brand: 
SC’s products
mainly include: cyclopropylamine, potassium borohydride, sodium borohydride,
sodium hydride.
SC sources its materials 100% from domestic
market, mainly Shandong. SC sells 65% of its products in domestic market, and
35% to overseas market.
The buying terms
of SC include Check, 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. 480 staff at
present.
SC owns an area as
its operating office & factory of approx. 20,000 sq. meters at the heading
address.
RELATED COMPANY
SC is known to have one
subsidiary, as follows,
===================================
u
Weifang Baolesheng Trade Co., Ltd.
Related Companies:
===============
u
Zhejiang Guobang Pharmaceutical Co., Ltd.
u
Xinchang Hebao Biotechnology Co., Ltd.
u
Xinchang Guobang Import and Export Co., Ltd.
u
Xinchang Guobang Financial Management Consulting Co., Ltd.
u
Xinchang Guobang Enterprise Management Co., Ltd.
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:
Bank
of China Weifang Branch
AC#：216902187603
According to
SC’s accountant, the given bank (Bank of China, Xinchang Sub-branch, 125,
Gushan Zhong Road, Xinchang, Zhejiang, China) did not belong to SC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
7,680 |
12,590 |
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Accounts
receivable |
15,190 |
19,070 |
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Other receivable |
730 |
680 |
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Inventory |
19,440 |
42,530 |
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Non-current
assets within one year |
0 |
0 |
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Other current
assets |
5,840 |
12,120 |
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|
------------------ |
------------------ |
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Current assets |
48,880 |
86,990 |
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Fixed assets |
90,960 |
101,440 |
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Construction in
progress |
25,850 |
29,530 |
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Long-term
investment |
0 |
1,000 |
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Other
non-current assets |
10,800 |
10,680 |
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------------------ |
------------------ |
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Total assets |
176,490 |
229,640 |
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============= |
============= |
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Short-term loans |
15,000 |
30,000 |
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Accounts payable |
16,180 |
13,970 |
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Wages payable |
0 |
0 |
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Advances from
clients |
0 |
0 |
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Other payable |
28,580 |
25,920 |
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Other current
liabilities |
2,240 |
8,360 |
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------------------ |
------------------ |
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Current
liabilities |
62,000 |
78,250 |
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Non-current
liabilities |
31,510 |
46,500 |
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------------------ |
------------------ |
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Total
liabilities |
93,510 |
124,750 |
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Equities |
82,980 |
104,890 |
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------------------ |
------------------ |
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Total
liabilities & equities |
176,490 |
229,640 |
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============= |
============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2010 |
|
Revenue |
240,810 |
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Cost of sales |
188,120 |
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Sales expense |
5,540 |
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Management expense |
13,960 |
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Finance expense |
3,090 |
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Profit before
tax |
29,530 |
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Less: profit tax |
7,480 |
|
22,050 |
Important Ratios
=============
|
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
|
*Current ratio |
0.79 |
1.11 |
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*Quick ratio |
0.47 |
0.57 |
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*Liabilities
to assets |
0.53 |
0.54 |
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*Net profit
margin (%) |
-- |
9.16 |
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*Return on total
assets (%) |
-- |
9.60 |
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*Inventory /
Revenue ×365 |
-- |
65 days |
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*Accounts
receivable/ Revenue ×365 |
-- |
29 days |
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*
Revenue/Total assets |
-- |
1.05 |
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* Cost of
sales / Revenue |
-- |
0.78 |
FINANCIAL COMMENTS
PROFITABILITY: FAIRLY
GOOD
l
The revenue of SC appears fairly good in its line
in 2010.
l
SC’s net profit margin is fairly good in 2010.
l
SC’s return on total assets is fairly good in 2010.
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 fair
level in 2009, normal in 2010.
l
SC’s quick ratio is maintained in a fair level in
both years.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loan of SC appears average.
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 average in both years.
l
The risk for SC to go bankrupt is low.
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 800,000 would appear to
be within SC’s capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.16 |
|
|
1 |
Rs.81.72 |
|
Euro |
1 |
Rs.68.34 |
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 |
|
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 |
|
-- |
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.