MIRA
INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
HUNAN DONGTING PHARMACEUTICAL COMPANY LTD |
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|
Registered Office : |
No.16, Dongyan Road, Deshan, Economic Technology
Zone, Changde City, Hunan Province |
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Country : |
China |
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|
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.03.1997 |
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Com. Reg. No.: |
430000000025977 |
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|
|
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Legal Form : |
Shares Limited Company
(Non-Listed) |
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|
|
Line of Business : |
Manufacture of haemostatic and anti-psychotic drugs |
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|
|
No. of Employees : |
800 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
3,500,000.00 |
|
Status : |
Satisfactory |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
Company name and address
|
HUNAN DONGTING PHARMACEUTICAL COMPANY LTD |
|
|
No.16, Dongyan Road, Deshan, Economic Technology Zone, Changde City,
Hunan Province |
|
|
415001 |
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Tel : |
86 736 7315585 |
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Fax: |
86 736 7318200 |
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E-mail: |
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Website: |
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Currency in this report is
Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.31
Chinese Yuan
"--"in this report
indicates "unavailable" due to insufficient information or "no
comments"
EXECUTIVE
SUMMARY
|
DATE OF establishment |
MAR.26th, 1997 |
|
Aic Registration No. |
430000000025977 |
|
REGISTERED LEGAL FORM |
shares limited
COMPANY (NON-LISTED) |
|
REGISTERED CAPITAL |
44,063,918.00 |
|
main BUSINESS |
MANUFACTURE AND SALES OF HEMOSTATICS AND ANTI-PSYCHOTIC DRUGS |
|
SIC Code (China) |
2720 manufacture of chemical medicine preparation |
|
|
|
|
employees |
800 |
|
import and export permits |
yes |
|
business scale |
Large |
|
operation trend |
Good |
|
TURNOVER |
224,616,000.00 (As of Dec.31st,
2010) |
|
net profit |
18,290,000.00 (As of Dec.31st,
2010) |
|
total assets |
172,271,000.00 (As
of Dec.31st, 2010) |
|
net worth |
116,804,000.00 (As
of Dec.31st, 2010) |
|
base Credie limit |
3,500,000.00 |
|
EXCHANGE RATE |
1 Usd=6.31CNY (FEB.6th, 2012) |
REGISTRATION
|
Name |
HUNAN DONGTING PHARMACEUTICAL COMPANY LTD |
|
AIC Registration Number |
430000000025977 |
|
Registered address |
No.16, Dongyan Road, Deshan, Economic Technology Zone, Changde City,
Hunan Province |
|
Operation address |
No.16, Dongyan Road, Deshan, Economic Technology
Zone, Changde City, Hunan Province |
|
Date of Establishment |
Mar.26th, 1997 |
|
Registry |
Administration Bureau of Industry and Commerce –
Changde |
|
Legal Representative |
Guo Wei |
|
Registered Legal Form |
shares limited COMPANY (NON-LISTED) |
|
Registered Capital |
44,063,918.00 |
|
Operating Duration |
PERPETUAL |
|
Changes in Registration |
1.
June.29th,
1998 Subject company's Registration No. was changed
from 18380436-9 to 4300001000145. 2. June.29th, 1998 Subject company's Legal representative was changed from Tao Yuanzhang
to Fan Yaochuan. 3. June.29th, 1998 Subject company's registered capital was increased from 19,380,000
Chinese Yuan to 39,721,700 Chinese Yuan. 4. Nov.19th,
2003 Subject company's Legal representative was changed from Fan Yaochuan
to Xiang Wenlin. 5. June.7th,
2004 Subject company's registered capital was decreased to 39,346,900
Chinese Yuan. 6. Apr.21st,
2005 Subject company's registered capital was increased to 44,063,900
Chinese Yuan. 7. Mar.20th,
2006 Subject company's Legal representative was changed from Xiang Wenlin
to Zou Zhenrong. 8. Nov.16th,
2006 Subject company's registered capital was increased to 44,063,918
Chinese Yuan. 9. Apr.10th,
2008 Subject company's Registration No. was changed
from 4300001000145 to 430000000025977 10. Apr.10th,
2008 Subject company's Legal representative was changed from Zou Zhenrong
to Guo Wei. |
Shares limited co.
This form of business in PR China is defined as a legal person. Its
registered capital is divided into shares of equal par value and the co. raises
capital by issuing share certificates by promotion or by public offer.
Shareholders bear limited liability to the extent of shareholding, and the co.
is liable for its debts only to the extent of its total assets. The
characteristics of the shares limited co. are as follows:
The establishment of the co. requires at least five promoters and at
least three of them must be PR- China controlled legal persons. Natural person
cannot be allowed to serve as promoters.
The minimum registered capital of a co. is RMB
The board of directors must consist of an odd number of five to nineteen
directors.
If the co. raises capital by public offer, the promoters must not
subscribe less than 35% of the total shares. The promoters’ shares are
restricted to transfer- within three years of the offer. Directors cannot
transfer the shares they hold in the co. during their terms of office.
A state-owned enterprise that is restructured into a share limited co.
must comply with the conditions & requirements specified under the law
& administrative rule.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
SHAREHOLDERS
AND SHARES
As indicated in the following
table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
CHINA GAOXIN INVESTMENT GROUP CORP |
4,716,980.00 |
10.7049% |
|
Labor Union of HUNAN DONGTING PHARMACEUTICAL COMPANY LTD |
264,268.00 |
0.5997% |
|
Jiangsu Tohope Pharmaceutical co., Ltd |
22,576,624.00 |
51.2361% |
|
JIANGSU SHENGTANG TECHNOLOGY INVESTMENT CO. LTD |
6,977,806.00 |
15.8356% |
|
CHANGDE ZHONGDA STATE-OWNED ASSET MANAGEMENT CO. LTD |
9,528,240.00 |
21.62% |
|
Total |
44,063,918.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
CHINA GAOXIN INVESTMENT GROUP CORP |
-- |
100% |
|
Labor Union of HUNAN DONGTING PHARMACEUTICAL COMPANY LTD |
-- |
100% |
|
Jiangsu Tohope Pharmaceutical co., Ltd |
-- |
100% |
|
JIANGSU SHENGTANG TECHNOLOGY INVESTMENT CO. LTD |
-- |
100% |
|
CHANGDE ZHONGDA STATE-OWNED ASSET MANAGEMENT CO. LTD |
-- |
100% |
Background of major shareholder
|
Name |
CHINA GAOXIN INVESTMENT GROUP CORP |
|
Address |
19-20F, Gaoxin Plaza, No.1 Binhe South Road, Guang’anmen Wai, Beijing |
|
Main business |
High-technology industry investment and asset management |
|
|
|
|
Name |
Jiangsu Tohope Pharmaceutical co., Ltd |
|
Address |
No.188 Wuyishan Road, Changshu City, Jiangsu |
|
Main business |
Manufacture and sales of pharmaceutical material, medicine
preparation, health care products etc. |
|
|
|
|
Name |
JIANGSU SHENGTANG TECHNOLOGY INVESTMENT
CO. LTD |
|
Address |
No.147 East Zhongshan Road, Xuanwu District, Nanjing City, Jiangsu
Province |
|
Main business |
Asset management consulting |
|
|
|
|
Name |
CHANGDE ZHONGDA STATE-OWNED ASSET
MANAGEMENT CO. LTD |
|
Address |
No.40 Renmin Middle Road, Wuling District, Changde City, Hunan
Province |
|
Main business |
State-owned asset management |
AFFILIATE(S)
No affiliate of subject is found after checking.
MANAGEMENT
|
Name |
Guo Wei |
|
Gender |
Male |
|
Title |
Chairmen |
|
Date of birth |
Jan.8th, 1962 |
|
National ID No. |
432401196201085053 |
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|
|
|
Name |
Zou Zhenrong |
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Gender |
Male |
|
Title |
Director |
|
|
|
|
Name |
Tang Huanyu |
|
Gender |
Male |
|
Title |
Director |
|
|
|
|
Name |
Yang Bin |
|
Gender |
Male |
|
Title |
Director |
|
|
|
|
Name |
Yan Huixia |
|
Gender |
Female |
|
Title |
Director |
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|
|
|
Name |
Wang Jialei |
|
Gender |
Female |
|
Title |
Director |
|
|
|
|
Name |
Yin Yifeng |
|
Gender |
Male |
|
Title |
Director |
|
|
|
|
Name |
Chen Guangzhong |
|
Gender |
Male |
|
Title |
Supervisor |
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|
|
|
Name |
Jin Guansheng |
|
Gender |
Male |
|
Title |
Supervisor |
|
|
|
|
Name |
Peng Yuanqing |
|
Gender |
Male |
|
Title |
Supervisor |
BANKERS INFORMATION
|
Bank name |
Bank of China – Changde Branch |
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Account No. (CNY) |
8090010000295 |
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Swift Code |
BKCHCNBJ98G |
|
Source of information |
Provided in the order (The bank staff confirmed the above account No.
is not complete, but refused to disclose subject’s correct account No.) |
OFFICE FACILITIES
|
Geographic Location |
No.16 Dongyan Road, Deshan, Economic Technology Zone, Changde City,
Hunan Province |
|
Area |
100,000 square meters |
|
Environment and traffic |
Average |
|
Property Ownership |
Unknown |
TRADEMARKS
After checking with the Trademark Office of Chinese Administration Bureau of Industry, no trademarks of SC were found.
PATENTS
|
Total patents |
3 |
|
Application No. |
200710034761.9 |
|
Application date |
Apr.18th, 2007 |
|
Patent name |
Manufacture method of Quetiapine Fumarate |
|
|
|
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Application No. |
200710043404.9 |
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Application date |
July.3rd, 2007 |
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Patent name |
Quetiapine Fumarate |
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|
|
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Application No. |
03118117.1 |
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Application date |
Feb.28th, 2003 |
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Patent name |
Manufacture method of tranexamic acid |
MAIN
PRODUCTS & SERVICES
|
Main business |
Manufacture of haemostatic and
anti-psychotic drugs |
|
Products and services |
Subject’s main APIs
include Tranexamic acid, PAMBA, Quetiapine Fumarate, Clomipramine HCl,
Lorazepam, Nitrendipine, Amitriptyline HCl etc. Its formulation products
include Tranexamic acid Injection, Tranexamic acid Injection, Quetiapine
Fumarate Tablet, Quetiapine Fumarate Tablet etc. Subject’s APIs are mostly
used by itself. Only Amitriptyline HCl and Tranexamic acid are sold to other
clients. |
|
Annual production capacity |
API: 200,000 tons Formulations: 200 million pills |
|
Certificates |
-- |
SALES
INFORMATION
|
Local sales |
60% |
|
Regions |
All
over China |
|
Major domestic clients |
Distributors;
pharmaceutical factories |
|
Payment terms |
Prompt payment; on credit |
|
Export |
40% |
|
Regions |
Japan,
Indonesia, Thailand, Taiwan, Hong Kong, Pakistan, India etc. |
|
Major overseas clients |
-- |
|
Payment terms |
L/C, T/T |
|
SC’s products are mostly
sold within China through distributors. It also has distributors in many
foreign countries. |
|
|
The above information was
confirmed by SC’s employee on Feb.3rd, 2012. |
|
PURCHASE
INFORMATION
|
Main Commodities Purchased |
paraxylene, Chlorobenzene, alprazolam, drying
machines etc. |
|
Region |
Local: 100% |
|
Number of Major Suppliers |
More than 5 |
|
Major suppliers |
ChangZhou Lemar Drying Engineering Co.,Ltd;
Shanghai Hi-tech Instrumens Co.,Ltd; Changzhou Xianfeng Drying Equipment Co.,
Ltd; CHANGSHU WANXING CHEMICAL CO.,LTD
etc. |
|
Main Terms of Payment |
Local: Prompt payment; on
credit |
|
SC’s raw materials and equipments are mainly
purchased from local chemical companies. It has many suppliers. |
|
|
The above information was confirmed by SC’s
employee on Feb.3rd, 2012. |
|
CREDIT
|
Name of supplier |
Changzhou
Xianfeng Drying Equipment Co., Ltd |
|
Main commodities and service supplied |
Drying equipments |
|
Title of interviewee |
Sales staff |
|
Telephone of Interviewee |
86 519 88930888 |
|
Cooperation |
Confirmed |
|
Payment comment |
Acceptable |
|
Date of interview |
Feb.3rd, 2012 |
LITIGATION
RECORDS
After checking with China Court organization, the local court website and other major searching websites, no litigation record related to subject company in the latest three years is found.
FINANCE
Balance Sheet (Unit: 1,000 Chinese Yuan):
|
|
Dec. 31st, 2010 |
|
Total assets |
172,271 |
|
Total liabilities |
55,467 |
|
Total owner’s interest |
116,804 |
|
Liabilities and owner’s interest |
172,271 |
|
Net profit |
18,290 |
Note: from the current AIC channel, only subject’s financial
summary of 2010 (is filed in the AIC system) is obtained for the client’s
reference.
Important
Ratios:
|
|
2010 |
|
Return on net assets (%)
|
15.66 |
|
Return on total assets (%) |
10.62 |
|
Net profit margin (%) |
8.14 |
|
Turnover of total assets |
1.30 |
|
Turnover of current assets |
|
|
Turnover of account receivable |
|
|
Inventory turnover |
|
|
Asset liability ratio (%) |
32.20 |
|
Current ratio |
|
|
Quick ratio |
|
Major Financial
Information (Unit: 1,000 Chinese Yuan):
|
|
2010 |
|
Main business income |
224,616 |
|
Total profit |
|
|
Net profit |
18,290 |
|
Total assets |
172,271 |
|
Total liabilities |
55,467 |
|
Total owner’s interest |
116,804 |
|
Source from |
government |
|
Whether audited or not |
Yes |
Analysis of financial indicator
Long-term solvency: good
Short-term solvency: --
Asset security: good
Inventory status: --
Capital turnover: average
Debt recovery status: --
Profitability: good
Return on assets (ROA): good
Enterprise background: good
Payment records: acceptable
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
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.