MIRA INFORM REPORT

 

 

Report Date :           

16.03.2012

 

IDENTIFICATION DETAILS

 

Name :

JINGDEZHEN FUXIANG PHARMACEUTICAL CO., LTD.

 

 

Registered Office :

No. 2 Yuli Industrial Zone, Changjiang District, Jingdezhen City, Jiangxi Province 333000 Pr

 

 

Country :

China

 

 

Date of Incorporation :

20.03.2002

 

 

Com. Reg. No.:

360200210008121         

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

manufacturing and selling bulk drugs

 

 

No. of Employees :

200

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 100,000

 

 

Status :

Moderate

 

 

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 

 

jingdezhen fuxiang pharmaceutical co., ltd.

no. 2 yuli industrial zone, changjiang district, jingdezhen city

jiangxi province 333000 PR CHINA

TEL: 86 (0) 798-2193328/2193329/2193318

FAX: 86 (0) 798-2193330

 

 

EXECUTIVE SUMMARY

 

Date of Registration          : march 20, 2002

REGISTRATION NO.                  : 360200210008121

LEGAL FORM                           : Limited liabilities company

CHIEF EXECUTIVE                                                 : bao jianhua (LEGAL REPRESENTATIVE)

REGISTERED CAPITAL             : cny 16,000,000

staff                                      : 200

BUSINESS CATEGORY             : manufacturing

Revenue                                : N/A

EQUITIES                                 : N/A

WEBSITE                                 : www.fuxiangpharm.com

E-MAIL                                     : infor@fuxiangpharm.com

PAYMENT                                : AVERAGE

Recommended Credit Limit: UP TO USD 100,000

MARKET CONDITION                : average

FINANCIAL CONDITION             : n/a

OPERATIONAL TREND              : fairly STEADY

GENERAL REPUTATION           : AVERAGE

EXCHANGE RATE                     : CNY 6.32 = 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.: 360200210008121 on March 20, 2002.

 

SC’s Organization Code Certificate No.: 73636057-8

SC’s registered capital: cny 16,000,000

 

SC’s paid-in capital: cny 16,000,000

 

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

Zhejiang Yongtai Technology Co., Ltd.

 

26.0

Jingdezhen Fuxiang Investment Co., Ltd.

 

7.0

Chen Bin

 

4.0

Yu Wenjun

 

10.0

Wei Yongchao

 

0.3

Bao Danhong

 

1.5

Ke Xili

 

0.5

Niu Yunbo

 

0.3

Bao Jianhua

 

48.8

Jin Jizhong

 

0.3

Zhang Weibing

 

0.8

Feng Shenrong

 

0.5

 

SC’s Chief Executives:-

 

Position

Name

Legal Representative and Chairman

Bao Jianhua

General Manager

Yu Wenjun

 

 

RECENT DEVELOPMENT

 

No recent development was found during our checks at present.

 

 

SHAREHOLDER CHART & BACKGROUND

 

Name                                                                                      % of Shareholding

Zhejiang Yongtai Technology Co., Ltd.                                                     26.0

Jingdezhen Fuxiang Investment Co., Ltd.                                                 7.0

Chen Bin                                                                                               4.0

Yu Wenjun                                                                                            10.0

Wei Yongchao                                                                                       0.3

Bao Danhong                                                                                         1.5

Ke Xili                                                                                                   0.5

Niu Yunbo                                                                                             0.3

Bao Jianhua                                                                                          48.8

Jin Jizhong                                                                                            0.3

Zhang Weibing                                                                                       0.8

Feng Shenrong                                                                                      0.5

 

*         Zhejiang Yongtai Technology Co., Ltd.

================================

Date of Registration: October 11, 1999

Registration No.: 331000000000876

Legal Form: Shares Limited Company

Chief Executive: Wang yingmei

Registered Capital: CNY 240,300,000

 

*         Jingdezhen Fuxiang Investment Co., Ltd.

=================================

Registration No.: 360200210030900

Legal Form: One-person Limited Liability Company

Chief Executive: Bao Jianhua

Registered Capital: CNY 1,800,000

 

 

MANAGEMENT

 

Bao Jianhua, Legal Representative and Chairman

----------------------------------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

 

From 2002 to present, working in SC as legal representative and chairman, also working in Zhejiang Yongtai Technology Co., Ltd. as legal representative and chairman

 

 

Yu Wenjun, General Manager

----------------------------------------------------

Ø         Gender: M

Ø         Qualification: University

Ø         Working experience (s):

At present, working in SC as general manager;

 

 

BUSINESS OPERATION

 

SC’s registered business scope includes manufacturing and selling bulk drugs, chemical raw materials; international trade.

 

SC is mainly engaged in manufacturing and selling bulk drugs.

 

SC’s products mainly include:

Tazobactam

Tazobactam Sodium

Tazobactam Sodium/Piperacillin Sodium Sterile Lyophilized Powder (1:8)

Sultamicillin Tosilate

Sultamicillin Base

Sulbactam pivoxil

Sulbactam Sodium

Piperacillin Sodium

Ampicillin Sodium + Sulbactam Sodium (2:1)

 

SC sources its materials 100% from domestic market, mainly Jiangxi. SC sells 65% of its products in domestic market, and 35% to overseas market, mainly India, Pakistan and Southeast Asia.

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 30-60 days.

 

Staff & Office:

--------------------------

SC is known to have approx. 200 staff at present.

 

SC rents an area as its operating office & factory of approx. 60,000 sq. meters at the heading address.

 

 

RELATED COMPANY

 

n         Jiangxi Xiangtai Pharmacy Co., Ltd.

n         Jingdezhen Bobang Biotechnology Co., Ltd.

 

 

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

 

The financials of SC is not available in local SAIC, and SC also refused to release the details.

 

 

CONCLUSIONS

 

SC is considered medium-sized in its line with a development history of 10 years. A credit line up to USD 100,000 would appear to be within SC’s capacities.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.22

UK Pound

1

Rs.78.64

Euro

1

Rs.65.54

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.