MIRA
INFORM REPORT
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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
CSPC OUYI PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 276, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.03.2001 |
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Com. Reg. No.: |
130100000073748 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Manufacturing and selling chemical synthesis raw materials, pharmaceutical preparation, etc. |
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No. of Employees : |
2,000 |
RATING & COMMENTS
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MIRA’s 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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Status : |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
CSPC OUYI PHARMACEUTICAL Co., Ltd.
NO. 276, WEST
ZHONGSHAN ROAD,
SHIJIAZHUANG, HEBEI
PROVINCE, 050051 PR CHINA
TEL: 86 (0)
311-87036208/87896356 FAX: 86 (0)
311-87039126
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 29, 2001
REGISTRATION NO. : 130100000073748
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
2,000
REGISTERED CAPITAL : CNY 150,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 933,278,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 279,122,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.31 = 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 March 29, 2001, and has been under present
legal form since 2009.
Company Status: One-person
Limited Liability Company
Single person LLC refers to a limited
liability company set up by only one natural person or legal person as the
single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered
business scope includes manufacturing and selling powder for injection,
freeze-dried powder for injection, small dose injection, soft capsule, suspension,
hard capsule, granules, tablet, non-bacteria raw material medicine, raw
materials, psychotropic drugs; selling chemical raw materials, developing
medical technology; exporting self-made products and technology, importing
& exporting raw materials, instrument and meter, machines, components and
related technology required in manufacturing, research & development.
SC is mainly
engaged in manufacturing and selling chemical synthesis raw materials,
pharmaceutical preparation, etc.
Mr. Lu Jianmin has been legal representative and chairman of
SC since 2010.
SC is known to have approx. 2,000 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 Shijiazhuang. Our checks
reveal that SC owns the total premise about 100,000 square meters.
http://www.ouyipharma.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: steven@ouyipharma.com
; zhangcl@ouyipharma.com
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
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|
Registered Capital |
CNY 500,000 |
CNY 110,000,000 |
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Registered Capital |
CNY 110,000,000 |
CNY 60,000,000 |
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Legal rep. |
Cai Dongchen |
Wang Ruiqi |
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Company Name |
Shijiazhuang Pharmaceutical Group Ouyi Pharmaceutical Co., Ltd |
Shijiazhuang Ouyi Pharmaceutical Co., Ltd. |
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Registered capital |
CNY 60,000,000 |
CNY 75,000,000 |
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Legal rep. |
Wang Ruiqi |
Pan Weidong |
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Company mane |
Shijiazhuang Ouyi Pharmaceutical Co., Ltd. |
Present one |
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Registered capital |
CNY 75,000,000 |
CNY 76,500,000 |
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Registered legal form |
limited liabilities co. |
Present one |
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Legal rep. |
Pan Weidong |
Present one |
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Registered capital |
CNY 76,500,000 |
CNY 100,000,000 |
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Unknown |
Registration no. |
1301001000819 |
Present one |
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Registered capital |
CNY 100,000,000 |
Present amount |
Ouyi has well-established Quality Assurance and Quality Control system,
and the company products comply with BP, USP, JP, EP and customer specifications.
The company has passed the system inspection of ISO 14000 and OHSMS 18000 and
has been awarded GMP certificate from Medicines Control Council of South Africa
in 2004.
MAIN SHAREHOLDERS:
Name %
of Shareholding
CSPC Pharmaceutical Group Limited 100
CSPC Pharma. was founded on August 21, 1997
by the strong union of Hebei Pharmaceutical Group Company, Shijiazhuang No. 1
Pharmaceutical Group Company, and so on, total 4 companies. It is the first one
of the oversized pharmaceutical enterprises that were founded by strong union
in pharmaceutical industry and a backbone enterprise group of Hebei Province.
Registration no.: 130100400009068
Registered capital: CNY 221,360,000
Legal representative: Cai Dongchen
No. 276, Western Zhongshan Road,
Shijiazhuang, Hebei Province
Tel: 86 (0) 311-87037015
Fax: 86 (0) 311-87039608
l
Legal representative and Chairman:
Mr. Lu Jianmin , born in 1958. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2010 to present Working
in SC as chairman and legal representative.
Also working in CSPC Ouyi
Import & Export Trade Co., Ltd. as legal representative.
l
Vice chairman:
Mr. Wang Ruiqi is currently responsible for the daily
management of SC.
Working Experience(s):
At present Working
in SC as vice chairman.
l
Supervisor:
Sun Jumin
SC is mainly engaged
in manufacturing and selling chemical synthesis raw materials, pharmaceutical
preparation, etc.
SC’s products
mainly include: tablets, capsules, soft capsules, granules/powder for oral
solution, powder injection, injection, etc.
The annual capacity
consists of 6 billion tablets, 1 billion hard capsules, and 200 million soft
capsules, 300 million sachets of granules for oral solution, 500 million small
volume parenteral solutions, and 300 million vials of powder for injection.
SC sources its materials 70% from domestic
market, and 30% from overseas market. SC sells 70% of its products in domestic
market, and 30% 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: SC refused
to release its major clients and suppliers.
SC is known to have the following subsidiaries:
Shijiazhuang
Pharmaceutical Group Huasheng Pharmaceutical Co., Ltd.
CSPC
Ouyi Import & Export Trade Co., Ltd.
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.
Industrial and Commercial Bank of China Qiaoxi Sub-branch
AC# 0402020109221034317
Relationship:
Normal.
Note: SC’s management
refused to confirm the given bank information (A/C No. 130 141 0060122 0000663
with China Constructon bank Hebei Branch).
Balance Sheet
Unit: CNY’000
|
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As
of Dec. 31, 2010 |
|
Cash & bank |
98,830 |
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Trading
financial assets |
487 |
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Inventory |
139,410 |
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Bills receivable |
69,021 |
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Accounts
receivable |
122,998 |
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Other Accounts
receivable |
42,548 |
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Advances to
suppliers |
86,105 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
559,399 |
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Fixed assets net
value |
152,869 |
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Projects under
construction |
29,976 |
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Long-term
investment |
133,023 |
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Intangible and
other assets |
49,378 |
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------------------ |
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Total assets |
924,645 |
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============= |
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Short loans |
90,000 |
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Accounts payable |
114,666 |
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Advance from
customers |
22,476 |
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Accrued payroll |
22,057 |
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Other Accounts
payable |
242,958 |
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Notes payable |
33,683 |
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Taxes payable |
5,576 |
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Interest payable |
200 |
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Dividend payable |
42,730 |
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Other current
liabilities |
0 |
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------------------ |
|
574,346 |
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Long term
liabilities |
40,000 |
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Long-term
accounts payable |
17,304 |
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Specified
payables |
13,873 |
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Other liabilities |
0 |
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------------------ |
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Total
liabilities |
645,523 |
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Equities |
279,122 |
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------------------ |
|
924,645 |
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============= |
Income Statement
Unit: CNY’000
|
|
As of Dec. 31, 2010 |
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Turnover |
933,278 |
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Cost of goods sold |
502,467 |
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Taxes and additional of main operation |
8,746 |
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Sales expense |
196,076 |
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Management expense |
89,034 |
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Finance expense |
9,939 |
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Assets impairment loss |
-200 |
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Net income on
the changes in fair value |
-79 |
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Investment
income |
5,177 |
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Non-operating
income |
2,481 |
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Non-operating expense |
2,293 |
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Profit before
tax |
132,502 |
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Less: profit tax |
18,876 |
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Profits |
113,626 |
Note: We didn’t found the financial record for Yr2011 in local AIC.
Important Ratios
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As
of Dec. 31, 2010 |
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*Current ratio |
0.97 |
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*Quick ratio |
0.73 |
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*Liabilities
to assets |
0.70 |
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*Net profit margin
(%) |
12.17 |
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*Return on
total assets (%) |
12.29 |
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*Inventory
/Turnover ×365 |
55 days |
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*Accounts
receivable/Turnover ×365 |
48 days |
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*Turnover/Total
assets |
1.01 |
|
* Cost of
goods sold/Turnover |
0.54 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly good.
l
SC’s cost of goods sold is low, 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 is fairly large.
l
The accounts receivable of SC is fairly large.
l
SC’s short-term loan appears average in 2010.
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 average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered large-sized in its line with fairly stable financial
conditions. A credit line up to USD 1,500,000 would appear to be within SC’s
capacities upon a periodical review basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
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 |
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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.