MIRA
INFORM REPORT
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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
Jiangsu
Zhongbang Pharmaceutical CO., LTD. |
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Registered Office : |
No. 36, Shuanggao Road, Gaochun County Development Zone, Nanjing,
Jiangsu Province, 211300 Pr |
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Country : |
Chain |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.04.2001 |
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Com. Reg. No.: |
320125000002227 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and selling active pharmaceutical ingredients and pharmaceutical
intermediates. |
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No. of Employees : |
100 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Chain |
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 |
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Off-credit |
D |
Company name and
address
Jiangsu Zhongbang Pharmaceutical
CO., LTD.
NO. 36,
TEL: 86 (0) 25-57888499/57887898
FAX: 86 (0) 25-57886687
EXECUTIVE SUMMARY
INCORPORATION DATE : APRIL 1, 2001
REGISTRATION NO. : 320125000002227
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 100
REGISTERED CAPITAL :
CNY 48,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : CNY 162,730,000 (AS OF DEC. 31, 2011)
EQUITIES : CNY 16,520,000 (AS OF DEC. 31,
2011)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIR
OPERATIONAL TREND :
FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2957
= USD 1
Adopted
abbreviations:
ANS -
amount not stated
NS -
not stated
SC -
subject company (the company inquired by you)
NA - not available
CNY -
Note: SC’s operating address should be the heading
one, while SC’s staff had never heard of the given address (27/F,
SC was registered as a limited liabilities
company at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license) on April 1, 2001.
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 permit business scope: R&D,
manufacturing and selling active pharmaceutical ingredients (ephedrine hydrochloride,
telmisartan, Fu Secretary Tan), capsules, tablets, granules, dry suspension,
and pharmaceutical intermediates. General business scope: importing and
exporting goods and technology, excluding commodities that refined or
prohibited by the state.
SC is
mainly engaged in R&D, manufacturing and selling active pharmaceutical
ingredients and pharmaceutical intermediates.
Mr.
Yang Shouhai is the legal representative and chairman of SC at present.
SC is known to have approx. 100 employees at present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the development zone of
Gaochun County. Our checks reveal that SC owns the total premise about 100,000
square meters.
SC is not known to host website of its own at present.
No significant changes were found during our checks with the
local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Nanjing First Pesticide Group
Co., Ltd.
98.9375
Nanjing Redsun Biological
Pharmaceutical Co., Ltd.
1.0625
Nanjing First Pesticide Group
Co., Ltd.
=============================
Registration no.:
320125000000088
Tel:
86-25-57880099/57888622/57888677
Add: No. 269,
Nanjing Redsun Biological
Pharmaceutical Co., Ltd.
=======================================
Registration no.: 320125000001697
Legal representative: Yang
Shouhai
Tel: 86-25-57888650/57888677
Add: No. 188, Development Zone,
l
Legal Representative and Chairman:
Mr. Yang Shouhai, ID# 320125570423001, born in 1957, with
master’s degree, senior economist. He is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
Also working in Nanjing Redsun Biological
Pharmaceutical Co., Ltd., Nanjing Redsun Co., Ltd. and Redsun Group Co., Ltd.
as legal representative and chairman.
l
General Manager:
Mr. Xu Qiang is currently responsible for the daily
management of SC.
Working Experience(s):
At present Working
in SC as general manager.
l
Directors:
Xue Yi ID# 320625197308172156
Xing Xiaohei ID# 320125196507151014
l
Supervisors:
Wang YulinID# 320125195601010010
Wang Jingui ID#
320125196709280762
SC is
mainly engaged in R&D, manufacturing and selling active pharmaceutical
ingredients and pharmaceutical intermediates.
SC’s
products mainly include: active pharmaceutical ingredients and pharmaceutical
intermediates.
SC sources its materials and
products 100% from domestic market. SC sells 80% of its products in domestic
market, and 20% to overseas market, mainly
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note: SC’s management declined to release its major suppliers and
clients.
Redsun Group Co., Ltd.
Nanjing Redsun Co., Ltd.
The said company is listed in Shenzhen Stock Exchange Market with
the stock code 000525.
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 records 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
AC#：N/A
Relationship:
Financial
Information
Unit: CNY’000
Note: SC’s detailed financial reports for Yr2011 were not found in
local AIC.
Important
Ratios
=============
|
|
as of Dec. 31, 2011 |
|
*Current
ratio |
0.70 |
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*Quick
ratio |
0.66 |
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*Liabilities
to assets |
0.88 |
|
*Net
profit margin (%) |
-7.18 |
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*Return
on total assets (%) |
-8.41 |
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*Inventory
/Turnover ×365 |
10 days |
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*Accounts
receivable/Turnover ×365 |
2 days |
|
*Turnover/Total
assets |
1.17 |
|
*
Cost of goods sold/Turnover |
0.89 |
PROFITABILITY:
FAIR
l
The turnover of SC appears fairly good.
l
SC’s net profit margin is fair.
l
SC’s return on total assets is fair.
l
SC’s cost of goods sold is average,
comparing with its turnover.
LIQUIDITY:
FAIR
l
The current ratio of SC is maintained
in a fair level.
l
SC’s quick ratio is maintained in a
fair level.
l
The inventory of SC appears average.
l
The accounts receivable of SC appears
small.
l
SC’s turnover is in an average level,
comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is
average.
Overall
financial condition of the SC: Fair.
SC is considered medium-sized in its line with fair
financial conditions. A credit line up to USD 50,000 would appear to be within
SC’s capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
|
<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 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.