MIRA
INFORM REPORT
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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
HUBEI YUANCHENG
PHARMACEUTICAL CO., LTD |
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Registered Office : |
NO. 496, |
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Country : |
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Date of Incorporation : |
01.02.2010 |
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Com. Reg. No.: |
420902000004341 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Engaged in researching, developing, manufacturing and selling
pharmaceutical products |
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No. of Employees : |
200 |
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
HUBEI YUANCHENG PHARMACEUTICAL CO., LTD.
NO. 496, ZHONGSHAN ROAD, WUCHANG
DISTRICT,
WUHAN, HUBEI PROVINCE
430064 PR CHINA
TEL: 86 (0) 27-68886724 FAX: 86
(0) 27-88048077
EXECUTIVE SUMMARY
INCORPORATION DATE : FEB. 1, 2010
REGISTRATION NO. :
420902000004341
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
STAFF STRENGTH :
200
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
R&D, 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
6.33 =USD
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 Feb. 1, 2010.
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 developing,
manufacturing and selling flavor, steroid system products, intermediates of
food additives, fine chemicals and pharmaceutical intermediates; technical
consulting; importing and exporting trade.
SC is mainly engaged in researching,
developing, manufacturing and selling pharmaceutical products.
Ye
Si is the legal representative, chairman and general manager of SC at present.
SC is
known to have approx. 200 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in Wuhan. The
detailed premise information is unknown.
http://www.ycphar.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
Email: ycgsales28@gmail.com
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name % of Shareholding
Ye Jiaren 20
Ye Si 80
l
Legal Representative, Chairman and General Manager:
Ye Si is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal representative,
chairman and general manager.
l
Supervisor:
Ye Jiaren
SC is mainly engaged in researching,
developing, manufacturing and selling pharmaceutical products.
SC’s products mainly include: miconazole
nitrate, 5-Methylpyrazine-2-carboxylic, etc.
SC sources
its materials 60% from domestic market and 40% from overseas market. SC sells
70% 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 T/T, L/C, Check and Credit of
30-60 days.
Note:
SC declined to release its major suppliers and clients.
SC is not known to have the subsidiary at present.
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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
Investigations were made with the local AIC, but the financial records
were not available.
SC is considered medium-sized in its line with a development history of
2 years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.58 |
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1 |
Rs.87.14 |
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Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
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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 |
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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.