MIRA
INFORM REPORT
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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG SHARE BIO-PHARM CO., LTD. |
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Registered Office : |
Room 1102, Floor 11, Donghang Building, No. 59 Chengxing
Road, Jianggan District, Hangzhou City, Zhejiang, 310019 Pr |
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Country : |
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Date of Incorporation : |
06.12.2011 |
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Com. Reg. No.: |
330103000145731 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
trading of API, feed additives, veterinary finished products, industry
chemicals, food additives, intermediates, etc. |
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No. of Employees : |
14 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
china - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned
system to a more market-oriented one that plays a major global role - in 2010
China became the world's largest exporter. Reforms began with the phasing out of
collectivized agriculture, and expanded to include the gradual liberalization
of prices, fiscal decentralization, increased autonomy for state enterprises,
creation of a diversified banking system, development of stock markets, rapid
growth of the private sector, and opening to foreign trade and investment.
China has implemented reforms in a gradualist fashion. In recent years, China
has renewed its support for state-owned enterprises in sectors it considers
important to "economic security," explicitly looking to foster
globally competitive national champions. After keeping its currency tightly
linked to the US dollar for years, in July 2005 China revalued its currency by
2.1% against the US dollar and moved to an exchange rate system that references
a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of
the renminbi against the US dollar was more than 20%, but the exchange rate
remained virtually pegged to the dollar from the onset of the global financial
crisis until June 2010, when Beijing allowed resumption of a gradual
appreciation. The restructuring of the economy and resulting efficiency gains
have contributed to a more than tenfold increase in GDP since 1978. Measured on
a purchasing power parity (PPP) basis that adjusts for price differences, China
in 2010 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. Still, per capita income is below the world
average. The Chinese government faces numerous economic challenges, including:
(a) reducing its high domestic savings rate and correspondingly low domestic
demand; (b) sustaining adequate job growth for tens of millions of migrants and
new entrants to the work force; (c) reducing corruption and other economic
crimes; and (d) containing environmental damage and social strife related to
the economy's rapid transformation. Economic development has progressed further
in coastal provinces than in the interior, and by 2011 more than 250 million
migrant workers and their dependents had relocated to urban areas to find work.
One consequence of population control policy is that China is now one of the
most rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to near 9% for 2011. An economic slowdown in Europe is
expected to further drag Chinese growth in 2012. Debt overhang from the
stimulus program, particularly among local governments, and a property price
bubble challenge policy makers currently. The government's 12th Five-Year Plan,
adopted in March 2011, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
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Source : CIA |
Company name & address
ZHEJIANG SHARE BIO-PHARM CO., LTD.
ROOM 1102, FLOOR 11, DONGHANG BUILDING, NO.
59 CHENGXING ROAD, JIANGGAN DISTRICT, HANGZHOU CITY, ZHEJIANG, 310019 PR CHINA
TEL: 86 (0) 571-87608832 FAX:
86 (0) 571-87608836
EXECUTIVE SUMMARY
INCORPORATION DATE : Dec. 6, 2011
REGISTRATION NO. : 330103000145731
REGISTERED LEGAL
FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 14
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE : trading
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 6.2306 = 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
Note: the (Rm. 1101,
SC was registered as a One-person Limited Liability Company
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Dec. 6, 2011.
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 CNY 100,000. 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 services: technology development, services, consultant and
results transferring of pharmaceutical intermediates, veterinary
medicine, feed additives; wholesale and retailing: pharmaceutical
intermediates, chemical raw materials (excluding hazardous or precursor
chemicals), laboratory apparatus & equipment; cargo import and export
business (excluding projects forbidden by laws and regulations, for the
projects limited by laws and regulations, only get permit can be operated).
(Excluding projects forbidden or limited by state laws and regulations.)
SC is mainly
engaged in trading of API, feed additives, veterinary finished products,
industry chemicals, food additives, intermediates, etc.
Mr. Qiu Yongsheng has been legal representative and general manager of SC
since 2011.
SC is
known to have approx. 14 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in commercial zone of Hangzhou.
Our checks reveal that SC rents the total premise about 630 square meters.
www.sharepharm.com The design
is professional and the content is well organized. At present it is in Chinese
and English versions.
Email: sales@sharepharm.com
SC was taken into operation in March, 2012.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhejiang Dayang Biotech Group Co., Ltd. 100
Registration No.: 330182000018199
Incorporation Date: Jan. 1, 1976
Registered legal form: Shares limited co.
Legal representative: Chen Yanggui (陈阳贵)
Registered capital: CNY 33,058,000
Website: www.dyhg.com
Legal
Representative and General
Manager:
Mr. Qiu Yongsheng is currently responsible for the daily management of SC.
Working
Experience(s):
From 2011 to present Working in SC as legal representative and general manager
Chairman:
Mr. Wang Hong is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as chairman
SC is mainly
engaged in trading of API, feed additives, veterinary finished products, industry
chemicals, food additives, intermediates, etc.
SC’s products
mainly include:
API
Amprolium HCl
Ceftiofur HCl
Ceftiofur Sodium
sterile
Cefquinome Sulfate
Polymyxin B
Sulfate
Fosfomycin Sodium
Fosfomycin Calcium
DL
Marbofloxacin
Feed Additives
Enramycin premix
Avilamycin premix
Amoxicillin w.s.p
Colistin sulphate
powder/granule
Tiamulin fumurate
micro coated granule
Florfenicol w.s.p
Tilmicosin premix
Kitasamycin
granule premix
Tilmicosin
phosphate w.s.p
Nosiheptide premix
Etc.
Veterinary Finished Products
Cefquinome Sulfate
suspension
Ceftiofur Hcl
suspension
Ceftiofur Sodium
lyophilized powder
Oxytetracycline
injection
Ivermectin
injection
Albendazole
suspension
Industry Chemicals
Potassium
Carbonate
Potassium
Bicarbonate
Ammonium Chloride
Food Additives
Potassium
Carbonate
Potassium
Bicarbonate
Intermediates
Butylamidine HCl
2-Chloro-6-Fluorobenzaldehyde
2-Chloro-6-Fluorobenzyl
Chloride
4-Fluorobenzldehyde
7-ACF
7-ACQ
Etc.
SC was taken into operation in March, 2012.
SC sources its materials 100%
from domestic market, mainly from its parent company, Zhejiang Dayang
Biotech Group Co., Ltd. SC sells 30% of its products
in domestic markets, 70% to overseas market, mainly to Brazil, Japan, Africa,
etc.
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 main clients and suppliers.
SC
is not known to have any 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.
Note:
SC’s management declined to release its main suppliers, so the trade ref. is
not available at present.
SC’s management
declined to release its bank details.
SC was taken into operation in March, 2012, so its financial
statements are not available at present.
SC is considered small-sized in its line with a short operating history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.20 |
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UK Pound |
1 |
Rs.88.38 |
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Euro |
1 |
Rs.71.47 |
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.