MIRA
INFORM REPORT
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Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
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Name : |
Hubei Biocause Heilen Pharmaceuticals Co., Ltd. |
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Registered Office : |
No. 132 Yangwan Road, Jingmen, Hubei
Province, 448000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.12.1995 |
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Com. Reg. No.: |
420800000038623 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling crude drugs |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRAs 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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Maximum Credit Limit : |
usd 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Cleat |
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) |
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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
Hubei Biocause Heilen Pharmaceuticals Co., Ltd.
no. 132 yangwan
road, jingmen, hubei PROVINCE, 448000 PR CHINA
TEL: 86 (0)
724-2211112 FAX: N/a
EXECUTIVE SUMMARY
INCORPORATION DATE : DEC. 29, 1995
REGISTRATION NO. : 420800000038623
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 180,000,000
BUSINESS LINE :
Manufacturing & SELLING
TURNOVER :
CNY 48,026,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 198,564,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO usd 300,000
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2969 = 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 Renminbi
SC was registered as a Chinese-foreign equity joint venture
enterprise at local Administration for Industry & Commerce (AIC - The
official body of issuing and renewing business license) on Dec. 29, 1995 and
has been under present legal form since Jun., 2006.
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.
SCs
registered business scope includes permit business items: manufacturing and
selling of troche, hard capsule, granules, crude drug, high -capacity injection
(valid period as of Dec. 31, 2015). General business scope: doing export
business of self-made products and technology; doing import business of
self-needed raw materials, instrument and meters, mechanical equipment, spare
parts and technology (excluding those refined and prohibited by the state),
processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter trade & transit trade.
SC is mainly engaged
in manufacturing and selling crude drugs.
Mr. Xiao
Yunhua has been the legal representative
and chairman of SC since 1995.
SC is known
to have approx. 500 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 Jingmen. Detailed
information of the premise is unspecified.
http://www.biocause.com/
It is the website of SCs parent company, and also includes the information of
SC. The design is professional and the content is well organized. At present it
is in both Chinese and English versions.
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
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|
Registered Capital |
USD 21,560,000 |
Present amount |
|
Legal Form |
Chinese-foreign equity joint venture enterprise |
Present one |
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Shareholders and shareholdings |
Hubei Zhongtian Group Corp. (literal translation) 44.99%；Singapore Golden Lion Biotechnology Co., Ltd. (literal translation) 55.01% |
Hubei Biocause Pharmaceutical Co., Ltd. 75% Jingmen Industry Investment Co., Ltd. 25% |
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Shareholders and shareholdings |
Hubei Biocause Pharmaceutical Co., Ltd. 75% Jingmen Industry Investment Co., Ltd.25% |
Present ones |
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Registration No. |
4208002130270 |
Present one |
MAIN SHAREHOLDERS:
Name % of
Shareholding
Hubei Biocause Pharmaceutical Co., Ltd. 98
Hubei Beck Chemical Industry Co., Ltd. 2
Hubei Biocause Pharmaceutical Co., Ltd.
=============================
The said company is listed in Shenzhen Stock
Exchange Market with the stock code 000627.
Registration No.: 420000000018048
Incorporation Date: Nov. 18, 1993
Legal Form: Shares limited co.
Chairman: Xiao Yunhua
Registered Capital: CNY 1,353,590,000
Tel.: 0724-2223218
Fax: 0724-2217652
Hubei Beck Chemical Industry Co., Ltd.
=============================
Incorporation Date: Jan. 16, 2004
Legal Form: Limited liabilities co.
Chairman: Zhang Xiaojun
Registered Capital: CNY 10,000,000
l
Legal Representative and Chairman:
Mr. Xiao Yunhua , ID# 420800195808072774, born in 1958, senior engineer,
with bachelors degree, he is currently responsible for the overall management
of SC.
Working Experience(s):
From
1995 to present Working in SC as legal
representative and chairman.
Also working in Hubei Biocause Pharmaceutical Co.,
Ltd. as legal representative.
SC is mainly
engaged in manufacturing and selling crude drugs.
SCs products mainly include: Ibuprofen Lysine, S-Ibuprofen
(Dexibuprofen), Torasemide and Fludarabine
phosphate, etc.
SC sources its materials 80% from domestic
market and 20% from overseas market. 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:
SCs management declined to release its major clients and suppliers.
Hubei Beck Diosgenin Co., Ltd. (literal translation)
Hubei
Beck Gelai Pharmaceuticals Co., Ltd. (literal translation)
Etc.
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.
No bank
information was found during our checks with the local Administration for
Industry and Commerce.
Financial
Summary
Unit: CNY000
|
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Long term investment |
84,398 |
/ |
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============= |
============= |
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Total liabilities |
242,120 |
56,948 |
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Equities |
237,613 |
198,564 |
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-------------------- |
-------------------- |
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Total assets |
479,733 |
255,512 |
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============= |
============= |
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Turnover |
267,408 |
48,026 |
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Profit before tax |
11,597 |
/ |
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Profits |
9,088 |
-2,213 |
Note: SCs detailed financial reports for Yr2009&2010 were not found
during our checks with local AIC.
Important
Ratios
=============
|
|
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.50 |
0.22 |
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*Net profit
margin (%) |
3.40 |
-4.61 |
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*Return on
total assets (%) |
1.89 |
-0.87 |
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*Turnover/Total
assets |
0.56 |
0.19 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fairly good in its line
in 2009 but average in 2010.
l
SCs net profit margin is average in 2009 but fair
in 2010.
l
SCs return on total assets is average in 2009 but
fair in 2010.
l
SCs turnover is fair in 2009 and poor in 2010,
comparing with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in 2010.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 300,000 would appear to be within SCs
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
|
1 |
Rs.78.09 |
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Euro |
1 |
Rs.65.15 |
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 |
-- |
This score serves as a reference to assess SCs 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.