MIRA
INFORM REPORT
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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SHENYANG ANTIBIOTIC MANUFACTURER |
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Registered Office : |
Jianshe North 3rd Road, Hushitai Town, Xinchengzi District, Shenyang, Liaoning Province, 110042 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.01.1999 |
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Com. Reg. No.: |
210113100003388 |
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Legal Form : |
Sole Proprietorship Enterprise |
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Line of Business : |
manufacturing and selling raw materials of chemical medicine |
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No. of Employees : |
950 employees |
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 : |
Moderate |
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Payment Behaviour : |
Slow but 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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
china - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.
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Source : CIA |
Company name & address
shenyang antibiotic manufacturer
JIANSHE NORTH 3RD ROAD, HUSHITAI TOWN,
XINCHENGZI DISTRICT,
SHENYANG, LIAONING PROVINCE, 110042 PR CHINA
TEL: 86 (0)
24-24311281 FAX: 86 (0) 24-24311281
EXECUTIVE SUMMARY
INCORPORATION DATE : january 28, 1999
REGISTRATION NO. : 210113100003388
REGISTERED LEGAL FORM : Sole Proprietorship
enterprise
STAFF STRENGTH :
950
REGISTERED CAPITAL : CNY 91,940,000
BUSINESS LINE :
manufacturing
TURNOVER :
CNY 256,567,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 208,106,000 (AS OF DEC. 31, 2010)
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.23 = 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 sole proprietorship enterprise at local Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on January 28, 1999.
Company Status: Sole Proprietorship enterprise This form of business in PR
China is a private enterprise formed by an individual, which does not have
the legal person or limited liability status. The co. is solely operated by
the sole investor who is responsible for all risks & liabilities of the
co.
SC’s registered business scope includes ointments, bulk drugs
(Rifampicin, rifaximin, rifamycin sodium, butyl fluoride); exporting self-products
and related technologies; importing raw materials, machinery equipment,
instruments, parts and related technologies needed in manufacturing and
researching; processing with the imported materials and compensation trade
agreement; exporting: self-produced bulk drugs, pharmaceutical intermediates,
formulations, chemical raw materials; manufacturing electricity and heat;
heating services.
SC is mainly
engaged in manufacturing and selling raw materials of chemical medicine.
Mr. Jiang
Yang is the manager of SC since 1999.
SC is known
to have approx. 950
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 Shenyang. Our checks
reveal that SC rents the total premise about 142,000 square meters.
SC is not known to host web site of its own at present.
SC
is a comprehensive, GMP certified pharmaceutical enterprise, which possesses
two main production lines with primacy production ability for rifampicin raw
materials and pharmaceutical intermediate rifamycin S-Na in China.
Changes
of its registered information are as follows:
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Date
of change |
Item |
Before
the change |
After the change |
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2003-3 |
Company name |
Shenyang Antibiotic Manufacturer |
Tonglian Group Shenyang Antibiotic
Manufacturer |
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2005-12 |
Company name |
Tonglian
Group Shenyang Antibiotic Manufacturer |
Shenyang Antibiotic Manufacturer |
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2010-5 |
Registration No. |
2101132200051 |
210113100003388 |
INVESTOR:
Name
Jiang Yang
ID# 210104198201070053
Note: The investment amount is CNY
91,940,000.
Manager:
Mr. Jiang Yang ID# 210104198201070053, born in 1982, with university education. He is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as manager.
SC is mainly engaged
in manufacturing and selling raw materials of chemical medicine.
SC’s products mainly include: Rifamycin S
Sodium, Rifamycin, liquid glucoseetc, butyl acetate, propanone, etc.
SC's annual output is approx. 350 tons of Rifamycin S
Sodium, and 260 tons of Rifamycin.
Rifampicin raw material has been listed in ‘the
List of Chinese Product of High and New Technology' issued by Chinese
government.
SC sources its materials 100% from domestic
market. SC sells its products 30% to overseas market, and 70% in domestic
market, mainly Liaoning province.
The buying terms
of SC include T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 15-30 days.
According tohttp://www.tljtw.com, the website of Shenyang
Tonglian Group Co., Ltd.:
Shenyang Tonglian Group Co., Ltd.
===========================
Incorporation date: Jan. 20, 1995
Registration no.: 210113000006806
Registered capital: CNY 100,000,000
Legal form: Limited Liabilities Company
Legal representative: Jiang Enhong
Address: 18 Yucai Lane Shuncheng Street East, Dadong District, Shenyang,
Liaoning, P.R. China
Tel: 86-24-24311786
Fax: 86-24-24311281
Web Site: http://www.tljtw.com
E-mail：tonglianpharma@sina.cn
Shenyang Antibiotic Manufacturer Veterinary Branch
======================================
Incorporation date: May 20, 1999
Registered number: 210113100008315
Registered capital: CNY 1,400,000
Legal representative: Guo Chenguang
Legal form: sole proprietorship enterprise
Tel: 86-24-89872461
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.
SC’s management
declined to release its bank details.
Financial
Information
Unit: CNY’000
Note:
SC’s detailed financial reports for Yr2009 and Yr2010 were not found in local
AIC.
Important Ratios
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as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.77 |
0.78 |
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*Net profit
margin (%) |
/ |
-7.45 |
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*Return on
total assets (%) |
/ |
-1.99 |
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*Turnover/Total
assets |
0.22 |
0.27 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fairly good in its line
in both two years, and it rose in 2010.
l
SC’s net profit margin is fair in 2010.
l
SC’s return on total assets is fair in 2010.
l
SC’s turnover is in a poor level in both two years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high in both two
years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered as a medium-sized company in its line with fairly
stable financial conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.23 |
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UK Pound |
1 |
Rs.87.53 |
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Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
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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.