MIRA
INFORM REPORT
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Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
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Name : |
CHEDOM PHARMACEUTICAL CO., LTD. |
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Registered Office : |
Beitai Industrial Zone, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.03.2003 |
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Com. Reg. No.: |
210502000007246 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
manufacturing and selling pharmaceutical products |
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No. of Employees : |
59 |
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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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 & address
CHEDOM
PHARMACEUTICAL CO., LTD.
BEITAI INDUSTRIAL ZONE, BENXI,
LIAONING PROVINCE, 117017 PR CHINA
TEL: 86 (0) 414-2521668/2521689 FAX: 86 (0) 414-2521689
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAR. 24, 2003
REGISTRATION NO. :
210502000007246
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 59
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 13,797,000
(AS OF DEC. 31, 2010)
EQUITIES :
CNY 2,269,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.30 =USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY – China Yuan Ren Min Bi
SC was registered as a Limited liabilities co. at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on Mar. 24, 2003.
Company Status: Limited Liabilities Co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes pharmaceutical
technology developing; manufacturing and selling pharmaceutical intermediates,
fine chemical products; exporting APIs, pharmaceutical intermediates and fine
chemical products (excluding class Ⅰ&Ⅱcontrolled chemicals); importing chemical
raw materials.
SC is mainly engaged in manufacturing and selling pharmaceutical products.
Mr. Zhang Baofu has been legal representative, chairman and general manager of SC since 2003.
SC is known to have approx. 59 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Benxi. But the detailed information about the premise is unspecific.
http://www.chedom.com/
the design is professional and the content is well organized. At present it is
in both English and Chinese versions.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the
change |
After the change |
|
2006-02-16 |
Company name |
Liaoning Chedom
Pharmachem Co., Ltd. |
The present one |
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Unknown |
Registration no. |
2105002300181 |
The present one |
MAIN SHAREHOLDERS:
Name %
of shareholdings
Zhang Baofu 60
Chi Renzhi 20
Yu Jialin 20
Legal
Representative, Chairman and General Manager:
Mr. Zhang Baofu, born in 1961. He is currently responsible for the
overall management of SC.
Working Experience(s):
From 2003 to present Working in SC as legal representative, chairman and general manager.
SC is mainly engaged in manufacturing and selling pharmaceutical products.
SC’s products mainly
include: APIs, pharmaceutical intermediates, etc.
SC sources its
materials 70% from domestic market, and 30% from overseas markets. SC sells 20%
of its products in domestic market, and 80% to overseas market.
The buying terms of SC include Check, T/T, L/C 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 refused to release its major suppliers and clients.
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.
We could not
find the bank information on SC in local AIC.
Financial Summary
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Unit: CNY’ 000 |
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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Long term liabilities |
1,410 |
1,613 |
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Total liabilities |
9,287 |
11,256 |
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Shareholders equities |
1,465 |
2,269 |
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--------------- |
--------------- |
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Total assets |
10,752 |
13,525 |
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========== |
========== |
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Turnover |
8,232 |
13,797 |
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Profit before tax |
547 |
1,309 |
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Less: Profit tax |
0 |
505 |
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Net profit |
547 |
804 |
Note: we did not find SC’s detailed
financial reports at local AIC for Yr 2009 and 2010.
Important Ratios
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as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
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*Liabilities
to assets |
0.86 |
0.83 |
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*Net profit
margin (%) |
6.64 |
5.83 |
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*Return on
total assets (%) |
5.09 |
5.94 |
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*Turnover/Total
assets |
0.77 |
1.02 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears average in its line, and
it increased in 2010.
l
SC’s net profit margin appears fairly good in both
2 years.
l
SC’s return on total assets appears fairly good in
both 2 years.
l
SC’s turnover is in a fair level in 2009 and in an
average level in 2010, comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in both 2
years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable
SC is considered small-sized in its line with fairly stable financial
conditions. A credit line up to USD 15,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.