MIRA
INFORM REPORT
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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HUBEI GRANULES-BIOCAUSE PHARMACEUTICAL CO.,
LTD. |
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Registered Office : |
No. 122, |
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Country : |
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Date of Incorporation : |
05.03.2007 |
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Com. Reg. No.: |
420800400000266 |
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Legal Form : |
Chinese-Foreign Equity Joint
Venture Enterprise |
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Line of Business : |
manufacturing and selling
chemical medicine |
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No. of Employees : |
80 |
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 – 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 & address
HUBEI GRANULES-BIOCAUSE PHARMACEUTICAL CO., LTD.
no. 122, yangwan road,
jingmen, hubei PROVINCE, 448000 PR CHINA
TEL: 86 (0)
724-2211780 FAX: 86 (0) 724-2211459
EXECUTIVE SUMMARY
INCORPORATION DATE : march 5, 2007
REGISTRATION NO. : 420800400000266
REGISTERED LEGAL
FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE ENTERPRISE
STAFF STRENGTH : 80
REGISTERED CAPITAL :
CNY 66,000,000
BUSINESS LINE : MANUFACTURING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.30 = 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 Chinese-foreign equity joint venture
enterprise at local Administration for industry & commerce (AIC - the
official body of issuing and renewing business license) on Mar. 5, 2007.
Company Status: Chinese-foreign equity joint venture
enterprise This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered
business scope includes designing, developing, manufacturing and processing of
various levels as the API of ibuprofen, as well as other new products;
providing technology support and after-sale services; selling the above
products.
SC is mainly
engaged in manufacturing and selling chemical medicine.
Mr. Xiao Yunhua is legal representative and chairman of SC at present.
SC is
known to have approx. 80 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
Jingmen. SC’s management declined to release detailed information of the
premise.
SC is not known to host website of its own at present.
SC’s total investment amount is CNY 165,000,000.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Granules (India) Co., Ltd. 50
Hubei Biocause Hengdi
Pharmaceutical Co., Ltd. (Literal Translation) 50
Hubei Biocause Hengdi
Pharmaceutical Co., Ltd. (Literal Translation)
==================================================
Registration No.: 420800000038623
legal representative: Xiao Yunhua
Date of Incorporation: Dec. 29, 1995
Registered Capital: CNY 180,000,000
Tel: 0724- 2211003
Fax: 0724-2211900
Chairman &
General Manager:
Mr. Xiao Yunhua, senior engineer, born in 1962, is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as chairman and general manager
Working in Hubei Biocause Hengdi Pharmaceutical Co., Ltd. as legal representative
SC is mainly
engaged in manufacturing and selling chemical medicine.
SC’s products mainly include ibuprofen.
SC sources its materials 90%
from domestic market, and 10% from overseas market. SC sells 80% of its
products in domestic market, and 20% 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.
Sales
department:
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Address:
7/F, District C, Golden Trade Center, Guantong Garden, No. 115, Wujiadun,
Jianghan District, Wuhan
Tel:
027-65651525 / 85628285
Fax:
027-65652329
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.
SC’s management
declined to release its bank details.
SC’s financial
reports were not found during our checks with the local Administration for
Industry and Commerce.
SC’s management declined to release any financial information.
SC is considered a medium-sized in its line with a short history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.93 |
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UK Pound |
1 |
Rs.88.15. |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.