MIRA
INFORM REPORT
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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANXI GUANGSHENG MEDICINAL CAPSULE CO., LTD. |
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Registered Office : |
No. 1 Ansheng Road, Yushe County Jinzhong, Shanxi Province 031800 Pr |
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Country : |
China |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
20.09.1997 |
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Com. Reg. No.: |
140721000000541 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling hollow-hard capsule |
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No. of Employees : |
640 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
SHANXI GUANGSHENG MEDICINAL CAPSULE
CO., LTD.
NO. 1 ANSHENG ROAD, YUSHE COUNTY
JINZHONG, SHANXI PROVINCE 031800 PR CHINA
TEL: 86 (0) 354-6638041/6638044
FAX: 86 (0) 354-6638041
EXECUTIVE SUMMARY
Date of Registration : SEPTEMBER 20, 1997
REGISTRATION NO. : 140721000000541
LEGAL FORM : LIMITED
LIABILITIES COMPANY
REGISTERED CAPITAL : CNY 126,060,000
staff :
640
BUSINESS CATEGORY : manufacturing
REVENUE :
CNY 28,410,000 (JAN. 1 2012 TO
MAY 31, 2012)
EQUITIES :
CNY 128,420,000 (AS OF MAY 31, 2012)
WEBSITE : www.gscapsule.com
E-MAIL :
dzh.gs@gscapsule.com
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.36 = 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 locates in the heading
address, while SC’s Taiyuan Marketing Center locates in the given address (
SC was established
as a limited liabilities company
of PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 140721000000541
on September 20, 1997.
SC’s Organization Code Certificate No.:
60200371-9
SC’s registered capital: CNY 126,060,000
SC’s paid-in capital: CNY 126,060,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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Registration No. |
1424211000186 |
140721000000541 |
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Shareholder (s)
(% of Shareholding) |
Changsha Medicine Corporation30% Shanxi
Guangsheng Pharmacy Package Share Holding Co., Ltd. 60% Beijing Aerospace Changfeng Co., Ltd. 10% |
Shanxi
Guangsheng Pharmacy Package Share Holding Co., Ltd. 90% Beijing Aerospace Changfeng Co., Ltd. 10% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shanxi Guangsheng
Pharmacy Package Share Holding Co., Ltd. |
90 |
|
Beijing Aerospace Changfeng Co., Ltd. |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman, and
General Manager |
Wang Tingliang |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Shanxi Guangsheng Pharmacy Package Share
Holding Co., Ltd. 90
Beijing Aerospace Changfeng Co., Ltd. 10
Shanxi Guangsheng Pharmacy
Package Share Holding Co., Ltd.
----------------------------------------------------------------------------------------
Registration No.: 140000100093218
Date of Registration: August 17, 1983
Legal Form: Shares Limited Company
Registered Capital: CNY 13,000,000
Legal Representative: Wang Tingliang
Beijing Aerospace
Changfeng Co., Ltd.
--------------------------------------------------------
Registration No.: 110000002963421
Date of Registration: December 24, 1992
Legal Form: Shares Limited Company
Registered Capital: CNY 292,604,000
Legal Representative: Ao Gang
Beijing Aerospace Changfeng Co., Ltd (abbreviated as “Aerospace
Changfeng”) is a high-tech enterprise supported by the Second Academy of China
Aerospace and listed in Shanghai Stock Exchange (Security code: 600855), and
engages in space military and civil products.
As one of first batch of domestic medical
devices field, Aerospace Changfeng is the first one to pass the ISO9001
attestation and the ISO13485 international quality attestation system, as well
as European Union’s CE attestation which is the passport to enter the
international market. Aerospace Changfeng is the key medical device
industrialization base supported by National Development and Reform Commission and
it is also the first batch of the key medical device export-enterprise
supported by the Ministry of Science and Technology and Ministry of Commerce.
Aerospace Changfeng has made outstanding contribution in the campaign against
SARS and won bids many times in the government procurement projects such as
country, province and city as well as army armament, gaining the recognition of
government and users.
As the key producer and seller approved by
the National Medical Office and Beijing outstanding high-tech enterprise, ACM
is listed in “the State Ministry of Science and Technology and the Ministry of
Foreign Trade first batch of sureness 166 focal points export the
specially-designated factories", and also is "family planning/healthy
reproduction equip specially-designated factory" appointed by the State
Family Planning Commission and also the fixed supply center for exporting
foreign-aid material appointed by the National Ministry of Public Health.
Add: No. 22 Qilizhuang Road, Fengtai
District, Beijing
Tel: 86 (0) 10-68762611
Fax: 86 (0) 10-68385099
Email: iedept400@acfgroup.com
MANAGEMENT
Wang Tingliang ,
Legal Representative, Chairman, and General Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 142421195405070015
Ø
Age: 58
Ø
Qualification:
University
Ø
Working
experience (s):
At
present, working in SC as legal representative, chairman, and general manager
Also
working in Shanxi Guangsheng
Pharmacy Package Share Holding Co., Ltd. as legal representative
BUSINESS OPERATION
SC’s registered business scope includes technical
services of special equipment for capsules; exporting its products, and
importing machinery & components, and raw materials & accessories;
manufacturing and selling capsules.
SC is mainly
engaged in manufacturing and selling hollow-hard capsule.
SC’s products
mainly include:
Gelatin capsule
Cellulose capsule
Polysaccharide
capsule
SC sources its
materials 100% from domestic market. SC sells 80% of its products in domestic
market, and 20% to overseas market, mainly Southeast Asia, Africa, etc.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Major Clients:
==========
Harbin
Pharmaceutical Group Co., Ltd.
Shandong Xinhua
Pharmaceutical Company Limited
Staff & Office:
--------------------------
SC is known
to have approx. 640 staff at present.
SC rents an area
as its operating office & factory of approx. 65,000 sq. meters at the
heading address.
RELATED COMPANY
Taiyuan
Marketing Center
Add:
Tel:
86 (0) 351-7860166/7860177
Fax:
86 (0) 351-7860007
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 May 31, 2012 |
|
7,290 |
|
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Notes receivable |
3,160 |
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Accounts
receivable |
28,390 |
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Advances to
suppliers |
27,440 |
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Other receivable |
31,020 |
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Inventory |
16,370 |
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Other current
assets |
20 |
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------------------ |
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Current assets |
113,690 |
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Fixed assets |
36,140 |
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Construction in progress |
3,590 |
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Other
non-current assets |
330 |
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------------------ |
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Total assets |
153,750 |
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============= |
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Short-term loans |
8,000 |
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Notes payable |
0 |
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Accounts payable |
2,360 |
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Wages payable |
1,430 |
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Advances from
clients |
460 |
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Taxes payable |
290 |
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Other payable |
12,320 |
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Other current
liabilities |
470 |
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------------------ |
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Current
liabilities |
25,330 |
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Non-current
liabilities |
0 |
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------------------ |
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Total
liabilities |
25,330 |
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Equities |
128,420 |
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------------------ |
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Total
liabilities & equities |
153,750 |
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============= |
Income Statement
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Unit: CNY’000 |
Jan.
1 2012 to May 31, 2012 |
|
Revenue |
28,410 |
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Cost of sales |
23,010 |
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Sales expense |
2,320 |
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Management expense |
1,870 |
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Finance expense |
340 |
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Profit before
tax |
740 |
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Less: profit tax |
190 |
|
550 |
Important Ratios
=============
|
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As
of May 31, 2012 |
|
*Current ratio |
4.49 |
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*Quick ratio |
3.84 |
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*Liabilities
to assets |
0.16 |
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*Net profit
margin (%) |
1.94 |
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*Return on
total assets (%) |
0.36 |
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*Inventory /
Revenue ×365/150 |
87 days |
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*Accounts
receivable/ Revenue ×365/150 |
150 days |
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*
Revenue/Total assets |
0.18 |
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* Cost of sales
/ Revenue |
0.81 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears average.
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: FAIRLY
GOOD
l
The current ratio of SC is maintained in a fairly
good level.
l
SC’s quick ratio is maintained in a fairly good
level.
l
The inventory of SC is maintained in an average
level.
l
The accounts receivable of SC appears slightly
large.
l
The short-term loans of SC appear average.
l
SC’s revenue is in a fair 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: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
|
-- |
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.