MIRA INFORM REPORT
|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HUBEI HONGYUAN PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
No. 428, Yishui North Road, Fengshan Town, Luotian County,, Hubei Province
438600 Pr |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
21.01.2002 |
|
|
|
|
Com. Reg. No.: |
421123000005111 |
|
|
|
|
Legal Form : |
Limited
Liabilities Co. |
|
|
|
|
Line of Business : |
manufacturing and selling
active pharmaceutical
ingredients and intermediates |
|
|
|
|
No. of Employees : |
500 |
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
HUBEI HONGYUAN PHARMACEUTICAL
CO., LTD.
no. 428, yishui north road, fengshan town,
luotian county,
hubei province 438600 PR CHINA
TEL: 86 (0) 713-5072428/5072024 FAX: 86 (0) 713-5072224
EXECUTIVE SUMMARY
INCORPORATION DATE : jan. 21, 2002
REGISTRATION NO. :
421123000005111
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
500
REGISTERED
CAPITAL :
CNY 20,000,000
BUSINESS
LINE :
MANUFACTURING
TURNOVER : CNY 733,409,000
(AS OF DEC. 31, 2010)
EQUITIES : N/A (AS OF
DEC. 31, 2010)
PAYMENT
: AVERAGE
MARKET
CONDITION : COMPETITIVE
FINANCIAL
CONDITION : STABLE
OPERATIONAL
TREND :
STEADY
GENERAL
REPUTATION : WELL-KNOWN
EXCHANGE
RATE : CNY 6.40=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 limited liabilities co. at local Administration for Industry & Commerce (AIC
- The official body of issuing and renewing business license) on Jan. 21,
2002.
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.
SC’s registered
business scope includes manufacturing and selling glyoxylate, lithium hexafluorophosphate;
manufacturing and selling API (metronidazole, benzoyl metronidazole,
tinidazole, ornidazole, secnidazole), Lu agent, syrup, mixture; manufacturing
and selling health care products Ling Tu Fu Shen Brand Fu Qi Ren capsule;
wholesaling coal; manufacturing and selling carboxymethylpachymaran,
carboxymethylpachymaran granules, capsules, soft capsules, honeysuckle drinks,
herbal tea honeysuckle, honeysuckle tablet, drink chrysanthemum, chrysanthemum
tea, Poria, Poria cake, Poria fans, chestnuts, canned, canned fruit, sweet
persimmons, fresh chestnuts, fresh persimmon; manufacturing and sellin
formaldehyde, glyoxal, formic acid; manufacturing and selling pharmaceutical
intermediates and fine chemicals; manufacturing and selling sucralose; exporting
self-made products and technology; importing raw and auxiliary materials,
instruments, meters, mechanical equipment, spare parts and technology used for
self-production (excluding the goods and technology prohibited or limited by
the country); processing with imported materials,
processing with imported samples, assembling with imported parts, and
compensation trade in agreement; purchasing agricultural products and retailing
general merchandise. (with permit if needed)
SC is mainly engaged in manufacturing and selling active pharmaceutical ingredients and intermediates.
Mr. Yin Guoping has been the legal representative, chairman
and general manager since 2002.
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 Luotian County. Our checks reveal that SC rents the total premise about 18,000 square meters.
http://www.hbhypharm.com/ The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
E-mail: sales@hbhypharm.com
SC has passed
ISO9001:2000 and GMP.
Changes of its registered
information:
|
Date of change |
Item |
Before the change |
After the change |
|
|
Registered capital |
CNY 500,000 |
CNY 3,148,000 |
|
|
Registered capital |
CNY 3,148,000 |
Present amount |
|
|
Registration number |
4211231002149 |
Present one |
|
|
Company name |
Luotian Hongyuan Biochemical Co., Ltd. |
Present one |
|
Unknown |
Shareholdings |
Yin Guoping 32.10% Liao Liping 11.76% Fang Ligao 5.96% Other individuals 50.18% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yin Guoping 32.10
Liao Liping 11.91
Fang Ligao 5.96
Xiao Jiahuai 5.96
Duan Xiaoliu 5.96
Lei Gaoliang 5.96
Gong Bingtao 5.96
Liu Zhanliang 5.96
Li Xiaoxiong 5.95
Xu Shuangxi 5.95
He Jianping 4.76
Deng Zhihua 3.57
l
Legal
representative, Chairman and General Manager:
Mr. Yin Guoping, ID# 422125600423001, born in 1960, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working in SC as legal
representative, chairman and general manager
l
Deputy
General Manager:
Mr. Xu Shuangxi, in his
Working Experience(s):
From 2002 to present Working in SC as deputy general manager
SC is mainly engaged in manufacturing
and selling active
pharmaceutical ingredients and intermediates.
SC’s products mainly
include: Metronidazole, 2-Methyl-5-Nitroimidazole, 2-Methylimidazole,
Dimetridazole, Imidazole, 4-Nitroimidazole, and Metronidazole Benzoate, etc.
SC sources its materials 100%
from domestic market, mainly Hubei province. SC sells 70% to overseas market,
mainly European and American countries, and 30% in domestic market, mainly
Hubei and Jiangsu province.
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, Check and Credit of 30-60 days.
*Major
Customer:
==============
Taixing Yuandong
Chemical Co., Ltd.
Note: SC’s management declined
to release its major suppliers.
SC is known to have the following subsidiaries:
· Luotian Hengyuan Pharmaceutical Co., Ltd.
· Luotian Hengxingyuan Chemical Co., Ltd.
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.
Bank of China Luotian Sub-branch
AC# 06332508093001
Relationship: Normal.
Financial summary
Unit: CNY’000
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
Total liabilities |
154,893 |
/ |
|
Equities |
201,842 |
/ |
|
Total assets |
356,735 |
400,396 |
|
|
============= |
============= |
|
Turnover |
547,146 |
733,409 |
|
Profits |
15,857 |
38,705 |
Note: we did not find SC’s detailed financial reports for Yr2009 &
Yr2010.
Important Ratios
=============
|
|
As of Dec. 31, 2009 |
As of Dec. 31, 2010 |
|
*Liabilities to assets |
0.43 |
/ |
|
*Net profit margin (%) |
2.90 |
5.28 |
|
*Return on total assets (%) |
4.45 |
9.67 |
|
*Turnover/Total assets |
1.53 |
1.83 |
PROFITABILITY: FAIRLY GOOD
l
The turnover of SC appears fairly good in its
line, and it increased greatly in 2010.
l
SC’s net profit margin is average in 2009 and fairly
good in 2010.
l
SC’s return on total assets is fairly good.
l
SC’s turnover is in an average level, comparing with the size of
its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is low in 2009.
l
The risk for SC to go bankrupt is average.
Overall financial condition of the SC:
Stable.
SC is considered
medium-sized in its line with stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.85 |
|
UK Pound |
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.