MIRA
INFORM REPORT
|
Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SJZ CHEM-PHARM CO., LTD. |
|
|
|
|
Registered Office : |
12/F Chengming Commercial Building No. 26 Huaian East
Road,Shijiazhuang Hebei Province 050000 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
04.06.2002 |
|
|
|
|
Com. Reg. No.: |
130100000067785 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Selling Medicine and Chemical Products |
|
|
|
|
No. of Employees : |
48 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
SJZ CHEM-PHARM CO., LTD.
12/F CHENGMING COMMERCIAL BUILDING
NO. 26 HUAIAN EAST ROAD,SHIJIAZHUANG
HEBEI PROVINCE 050000 PR CHINA
TEL: 86 (0) 311-86031650
FAX: 86 (0) 311-86968704
EXECUTIVE SUMMARY
Date of Registration : JUNE 4, 2002
REGISTRATION NO. : 130100000067785
LEGAL FORM : LIMITED LIABILITIES COMPANY
REGISTERED CAPITAL : CNY 4,600,000
staff :
48
BUSINESS CATEGORY : TRADING
Revenue :
CNY 45,921,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 3,469,000 (AS OF DEC. 31, 2011)
WEBSITE : www.sjzchempharm.com
E-MAIL : info@sjzchempharm.com
PAYMENT :
AVERAGE
RECOMMENDED CREDIT LIMIT: UP TO USD 30,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.31 = 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 limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 130100000067785
on June 4, 2002.
SC’s Organization Code Certificate No.:
74015187-5
SC’s registered capital: CNY 4,600,000
SC’s paid-in capital: CNY 4,600,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1301002002228 |
130100000067785 |
|
Shareholder (s) (% of Shareholding) |
Xu Ruichen 15% Zhai Shufen 13% Wang Xuejian 13% Yan Huaping 12% Wang Chonghai 12% Zhao Guoxing 12% Zhao Siqi 10% Zhao Liandong 13% |
Xu Ruichen41% Yang Chunhui25% Zhao Guoxing12% Wang Honghai12% Zhao Siqi 10% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xu Ruichen |
41 |
|
Yang Chunhui |
25 |
|
Zhao Guoxing |
12 |
|
Wang Honghai |
12 |
|
Zhao Siqi |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Xu Ruichen |
|
Director/Supervisor |
Yang Chunhui |
|
Zhao Guoxing |
|
|
Wang Honghai |
|
|
Zhao Siqi |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Xu Ruichen 41
Yang Chunhui 25
Zhao Guoxing 12
Wang Honghai 12
Zhao Siqi 10
MANAGEMENT
Xu Ruichen , Legal
Representative, Chairman, and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative, chairman,
and general manager
Director/Supervisor
-------------------------
Yang Chunhui
Zhao Guoxing
Wang Honghai
Zhao Siqi
BUSINESS OPERATION
SC’s registered
business scope includes selling chemical products & pharmaceutical chemical
raw materials and accessories, food additives, glass products, rubber products,
minerals, native & animal products, machinery, knitting goods &
textile, and garment; importing and exporting commodities and technology.
SC is mainly
engaged in selling medicine and chemical products.
SC’s products
mainly include:
Medicines:
• 1% Ivermectin
Injection
•
• 20%
Oxytetracycline L.A. Injection
• ALBENDAZOLE
BOLUS
• Albendazole
Bolus 300mg, 00mg,1000mg,2500mg
• Amoxycillin
Capsule 250mg ,500mg
• AMOXYCILLIN
CAPSULES
• Ampicillin
Capsules 250mg ,500mg
• Ampicillin for
injection
• Aspirin Tablet
500mg
• Benzathine
Penicillin For Injection 2.4MEGA
• Bottle
• Chloromycetin
Capsules 250mg
• Chloroquine Phosphate
injection 322.5mg/5ml
• DICLOFENAC
INJECTION
• Diclofenac
injection 75mg/3ml
• Dipyrone
(Novalgin) Tablet 500mg
• Dipyrone
injection
• FENVALERATE
SUSPENSION
• GENTAMYCIN
INJECTION 10%
• Gentamycin
Injection 80mg/2ml
• INULIN
• Iron Dextran
injection 5%,10%,20% 100ml
• Ivermectin
Injection 1% 10ml,50ml
• Levamisole Bolus
150mg ,1000mg
• Levamisole inj.
5%,10%
• Oxytetracycline
Inj. 5%,10%,20%
• Paracetamol
Tablet 500mg
• PARACETAMOL
TABLETS
• Penicillin G for
Injection 1Mega,5Mega
• Procaine
Penicillin for injection 4mega
• Progesterone
Injection 25mg/1ml
• SURGICAL LATEX
GLOVES
• Tetracycline Hcl
Capsules 250mg
• Tetramisole Hcl
Bolus 600mg
• Veterinary
Medicines
Chemicals:
•
2-HYDROXYISONICOTINIC ACID
•
8-Hydroxyquinoline coppersalt
• ACETONITRILE
•
ACID/DIRECT/DISPERSE DYESTUFF
• Activated
bleaching earth 2,2'-Dihydroxy-4,4'-
• ACYCLOVIR
• ALPHA LIPOIC
ACID
• ALUMINIUM
HYDROXIDE DRIED GEL
• Ammonium
Chloride
• AMMONIUM
CHLORIDE
• Ammonium
Chloride Tech. Grade
• AMMONIUM
CHLORIDE/ INDUSTRY GRADE
• AMMONIUM
PERSULPHATE 98.5%
• ANALGIN
• ANHYDROUS BORAX
95%
• Antioxidant SP
• Aripiprazole
• AVERMECTINS
• Barium Carbonate
• Barium Hydroxide
• BCDMH
• BORIC ACID 99.6%
• Calcium Chloride
• Calcium Formate
SC sources its
materials 100% from domestic market. SC sells 40% of its products in domestic
market, and 60% to the overseas market, mainly American and European countries.
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. 48 staff at
present.
SC rents an area
as its operating office, 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 local SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
339 |
1,955 |
|
|
Notes receivable |
0 |
0 |
|
Accounts
receivable |
7,837 |
7,229 |
|
Advances to
suppliers |
2,244 |
1,132 |
|
Other receivable |
12 |
8 |
|
Inventory |
646 |
244 |
|
Prepaid expenses |
0 |
0 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
11,078 |
10,568 |
|
Long-term
investment |
2,890 |
2,475 |
|
Fixed assets |
0 |
0 |
|
Construction in
progress |
0 |
0 |
|
Intangible
assets |
0 |
0 |
|
Long-term
prepaid expenses |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
13,968 |
13,043 |
|
|
============= |
============= |
|
Short-term loans |
2,250 |
3,900 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
4,269 |
4,215 |
|
Wages payable |
0 |
0 |
|
Taxes payable |
-50 |
84 |
|
Unpaid profit |
0 |
0 |
|
Other unpaid
expenses |
0 |
0 |
|
Advances from
clients |
1,118 |
1,349 |
|
Other payable |
2,987 |
26 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
10,574 |
9,574 |
|
Non-current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
10,574 |
9,574 |
|
Equities |
3,394 |
3,469 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
13,968 |
13,043 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2010 |
As of Dec. 31,
2011 |
|
Revenue |
53,217 |
45,921 |
|
Cost of sales |
47,251 |
41,330 |
|
Taxes and surcharges |
21 |
24 |
|
Sales expense |
2,283 |
2,696 |
|
Management expense |
3,626 |
2,017 |
|
Finance expense |
157 |
25 |
|
Non-business
income |
259 |
232 |
|
Non-business expense |
24 |
0 |
|
Profit before
tax |
115 |
62 |
|
Less: profit tax |
29 |
16 |
|
86 |
46 |
Important Ratios
=============
|
|
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
*Current ratio |
1.05 |
1.10 |
|
*Quick ratio |
0.99 |
1.08 |
|
*Liabilities
to assets |
0.76 |
0.73 |
|
*Net profit
margin (%) |
0.16 |
0.10 |
|
*Return on
total assets (%) |
0.62 |
0.35 |
|
*Inventory /
Revenue ×365 |
5 days |
2 days |
|
*Accounts
receivable/ Revenue ×365 |
54 days |
58 days |
|
*
Revenue/Total assets |
3.81 |
3.52 |
|
* Cost of
sales / Revenue |
0.89 |
0.90 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average in both years.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
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 in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of SC appears average.
l
The accounts receivable of SC appear fairly large.
l
The short-term loans of SC appear fairly large.
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.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. The fairly large amount of accounts receivable and short-term loans
may be a threat to SC’s financial condition. A credit line at the above amount
appears beyond SC’s capacities, while a credit line up to USD 30,000 is
recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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 |
|
-- |
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.