MIRA
INFORM REPORT
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Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HENGSHUI HENLIN BIOTECH CO., LTD. |
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Registered Office : |
Jiheng Economic Zone, Wuyi, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.12.2007 |
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Com. Reg. No.: |
131122000000682 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing and Selling Pharmaceutical Intermediates. |
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No. of Employees : |
120 |
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 : |
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 – September 30, 2011
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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 and address
HENGSHUI HENLIN BIOTECH
CO., LTD.
JIHENG ECONOMIC ZONE,
WUYI, HENGSHUI
HEBEI PROVINCE 361012
PR CHINA
TEL: 86 (0)
318-5958339
FAX: 86 (0)
318-5958339/5958513
EXECUTIVE SUMMARY
Date of Registration : december 21, 2007
REGISTRATION NO. : 131122000000682
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE :
wang linjie (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny 15,000,000
staff :
120
BUSINESS CATEGORY : manufacturing
Revenue :
CNY 35,640,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 15,673,000 (AS OF DEC. 31, 2011)
WEBSITE : www.hshenglin.com
E-MAIL :
sales@hshenglin.com
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.37 = 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
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 131122000000682 on December 21, 2007.
SC’s Organization Code Certificate No.:
67030611-3
SC’s registered capital: cny 15,000,000
SC’s paid-in capital: cny 15,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Wang Linjie 王琳洁 |
85.33 |
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Zhang Bingye 张冰晔 |
14.67 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative, Chairman, and General Manager |
Wang Linjie |
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Supervisor |
Zhang Bingye |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Wang Linjie 85.33
Zhang Bingye 14.67
MANAGEMENT
Wang Linjie, Legal
Representative, Chairman and General Manager
----------------------------------------------------------------------------------------------------
Gender: F
Age: 50
ID# 133001196204071229
Qualification: University
Working experience (s):
From 2007 to present, working in SC as legal representative, chairman
and general manager
Zhang Bingye,
Supervisor
---------------------------------------------
Gender: M
Age: 25
ID# 131102198712064614
Li Xiuhe, Sales
Manager
--------------------------------------------
Gender: F
Mobile: 86 15803380670
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling capsaicin, capsanthin, industrial capsicum, chloride cephalosporin
product intermediates; international trade.
SC is mainly engaged in manufacturing and selling pharmaceutical intermediates.
Brand: HENLIN
SC’s products mainly include:
3-(2-Chloro-6-fluorophenyl)-5-methyl-isoxazole-4-carbonyl
chloride
3-(2,
6-Dichlorophenyl)-5-methylisoxazole-4-carbonyl chloride
5-Methyl-3-phenylisoxazole-4-carbonyl chloride
Ethyl 7-chloro-2-oxoheptanoate
4-Pyridylmercaptoacetyl chloride hydrochloride
DL-Azetidine-2-carboxilic acid
Chloroethyl ethyl carbonate
Etc.
SC sources its materials 100% from domestic market, mainly Hebei. SC
sells 20% of its products in domestic market, and 80% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 120
staff at present.
SC owns an area as its operating office & factory of approx. 20,000
sq. meters at the heading address.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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 SAIC.
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
|
2,135 |
3,261 |
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Accounts receivable |
9,149 |
16,142 |
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Advances to suppliers |
1,073 |
199 |
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Other receivable |
486 |
4,764 |
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Inventory |
5,702 |
5,431 |
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Non-current assets within one year |
0 |
0 |
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Other current assets |
106 |
1,406 |
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------------------ |
------------------ |
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Current assets |
18,651 |
31,203 |
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Fixed assets |
8,256 |
8,829 |
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Construction in progress |
0 |
0 |
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Intangible assets |
5,926 |
5,926 |
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Long-term prepaid expenses |
89 |
60 |
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Deferred income tax assets |
0 |
0 |
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Other non-current assets |
1 |
1 |
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------------------ |
------------------ |
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Total assets |
32,923 |
46,019 |
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============= |
============= |
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Short-term loans |
15,900 |
28,295 |
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Notes payable |
0 |
0 |
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Accounts payable |
0 |
0 |
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Wages payable |
0 |
147 |
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Taxes payable |
-663 |
-459 |
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Advances from clients |
0 |
0 |
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Other payable |
2,969 |
2,363 |
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Other current liabilities |
1 |
0 |
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Current liabilities |
18,207 |
30,346 |
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Non-current liabilities |
0 |
0 |
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Total liabilities |
18,207 |
30,346 |
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Equities |
14,716 |
15,673 |
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------------------ |
------------------ |
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Total liabilities & equities |
32,923 |
46,019 |
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Income Statement
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Unit: CNY’000 |
As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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Revenue |
27,949 |
35,640 |
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Cost of sales |
25,201 |
31,502 |
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Taxes and surcharges |
20 |
16 |
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Sales expense |
138 |
228 |
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Management expense |
507 |
801 |
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Finance expense |
2,075 |
1,815 |
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Profit before tax |
6 |
1,274 |
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Less: profit tax |
2 |
318 |
|
4 |
956 |
Important Ratios
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Current ratio |
1.02 |
1.03 |
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*Quick ratio |
0.71 |
0.85 |
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*Liabilities to assets |
0.55 |
0.66 |
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*Net profit margin (%) |
0.01 |
2.68 |
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*Return on total assets (%) |
0.01 |
2.08 |
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*Inventory / Revenue ×365 |
75 days |
56 days |
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*Accounts receivable/ Revenue ×365 |
120 days |
166 days |
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* Revenue/Total assets |
0.85 |
0.77 |
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* Cost of sales / Revenue |
0.90 |
0.88 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average, and it was rising in 2011.
SC’s net profit margin is average in both years.
SC’s return on total assets is average in both years.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
The inventory of SC is maintained in an average level.
The accounts receivable of SC appears large.
The short-term loans of SC appear large.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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. The large amount of accounts receivable and short-term loans may be
a threat to SC’s financial condition. A credit line up to USD 120,000 is
recommended upon a periodical review basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
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|
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.