MIRA
INFORM REPORT
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Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI NEW HUALIAN PHARMACEUTICALS CO.,
LTD. |
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Registered Office : |
No. 217 Minle
Road, Xinghuo Development Zone, Haiwan Town,
Fengxian District, Shanghai 201419 Pr |
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Country : |
China |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
24.11.2010 |
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Com. Reg. No.: |
310120001818348 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
manufacturing and selling tablet, etc. |
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No. of Employees : |
650 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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China |
A2 |
A2 |
|
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 2012 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 under 8% for 2012. An economic slowdown in Europe contributed to China's, and is expected to further drag Chinese growth in 2013. 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
SHANGHAI NEW HUALIAN PHARMACEUTICALS CO.,
LTD.
no. 217 minle road, xinghuo development zone, haiwan town
fengxian district, shanghai 201419 PR CHINA
TEL: 86 (0)
21-64403190/31272823/31272820
FAX: 86 (0)
21-64410180
EXECUTIVE SUMMARY
Date of Registration : november 24, 2010
REGISTRATION NO. : 310120001818348
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE : zhou qiuhuo (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 73,714,286
staff :
650
BUSINESS CATEGORY :
MANUFACTURING
REVENUE :
CNY 681,135,000 (JAN. 1 2012 TO JUL. 31, 2012)
EQUITIES :
CNY 124,831,000 (AS OF JUL. 31, 2012)
WEBSITE : www.nhl-pharm.com
E-MAIL :
sales@nhl-pharm.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.21 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
LEGAL
STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310120001818348 on November 24, 2010.
SC’s Organization Code Certificate
No.: 56484768-8
SC’s registered capital: CNY 73,714,286
SC’s paid-in capital: CNY 73,714,286
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Xianju Kaidi Investment Co., Ltd. |
64.00 |
|
Zhejiang Dahongpao Equity Investment Co.,
Ltd. |
6.00 |
|
Suzhou Tianxu Zhanlu Jiuding Investment Center (LP) |
1.78 |
|
Suzhou Tianchang Zhanlu Jiuding Investment Center (LP) |
4.74 |
|
Suzhou Tianxin Zhanlu Jiuding Investment Center (LP) |
2.46 |
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Suzhou Tianqi Zhanlu Jiuding Investment Center (LP) |
2.96 |
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Suzhou Tianfeng Zhanlu Jiuding Investment Center (LP) |
2.50 |
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Suzhou Tianxiang Zhanlu Jiuding Investment Center (LP) |
3.36 |
|
Suzhou Tianpan Zhanlu Jiuding Investment Center (LP) |
2.30 |
|
Beijing Kunwu Jiuding Investment Center (LP) |
9.90 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Zhou
Qiuhuo |
|
Director |
Liu
Yang |
|
Wang
Xiaohai |
|
|
Yu
Laihua |
|
|
Shi
Yanhua |
|
|
Zhang
Xiaohong |
|
|
Zhou
Fuqun |
|
|
Chen
Yuhua |
|
|
Supervisor |
Chen
Jing |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Xianju Kaidi Investment Co., Ltd. 64.00
Zhejiang Dahongpao Equity Investment Co.,
Ltd. 6.00
Suzhou Tianxu Zhanlu Jiuding Investment
Center (LP) 1.78
Suzhou Tianchang Zhanlu Jiuding Investment
Center (LP) 4.74
Suzhou Tianxin Zhanlu Jiuding Investment
Center (LP) 2.46
Suzhou Tianqi Zhanlu Jiuding Investment
Center (LP) 2.96
Suzhou Tianfeng Zhanlu Jiuding Investment
Center (LP) 2.50
Suzhou Tianxiang Zhanlu Jiuding Investment
Center (LP) 3.36
Suzhou Tianpan Zhanlu Jiuding Investment
Center (LP) 2.30
Beijing Kunwu Jiuding Investment Center (LP) 9.90
Xianju Kaidi Investment Co., Ltd.
============================
Registration No.: 331024000029851
Legal Form: Limited Liability
Company
Zhejiang Dahongpao Equity Investment Co., Ltd.
=======================================
Registration No.: 330000000051095
Beijing Kunwu Jiuding Investment Center (LP)
======================================
Registration No.: 110102012762846
Legal Form:
Limited Partnership
MANAGEMENT
Zhou
Qiuhuo, Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 49
Ø
ID# 332624196409295713
Ø
Qualification:
University
Ø
Working
experience (s):
From 2010 to present, working in SC as legal representative, chairman and general manager, also working in Zhejiang Kadi Pharmaceutical Co., Ltd. and Xianju Kaidi Investment Co., Ltd. as legal represent
Director
-----------
Liu Yang
Wang Xiaohai
Yu Laihua
Shi Yanhua
Zhang Xiaoong
Zhou Fuqun
Chen Yuhua
Supervisor
--------------
Chen Jing
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing
tablet (including hormones, anti-cancer drug), hard capsules (hormones), raw
material medicine, importing and exporting goods and technology.
SC is mainly
engaged in manufacturing and selling tablet, etc.
Brand: 
SC’s
products mainly include:
Nilestriol
tablets
Misoprostol
tablets
Mifepristone
tablets
Danazol
capsule
Praziquantel
Ftorafur
Meclofenoxate
Hydrochloride
Phentolamine
mesilate
chlorphenamine
maleate
Diatrizoic
Acid
Mometasone
furoate
Medroxyprogesterone
17-acetate
Megestrol
acetate
Betamethasone
17-valerate
Etc.
SC sources its materials 100% from domestic market, mainly Shanghai. SC sells 70% of its products in domestic market, and 30% to overseas market, mainly U.S.A., Europe, Mid East, Southeast Asia, etc.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 650 staff at
present.
SC owns an area as
its operating office & factory of approx. 60,000 sq. meters at the heading
address.
RELATED
COMPANY
SC is known to have a
subsidiary at present.
n
Zhejiang Kadi Pharmaceutical Co., Ltd.
-------------------------------
Date of Registration: February 27, 2002
Registration No.: 331024000019000
Legal Form: One-person Limited
Liability Company
Registered Capital: CNY 10,000,000
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X)
Average ( ) Fair ( ) Poor ( ) Not yet be 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.
BANKING
The bank
information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As of Jul. 31, 2012 |
|
Long term investment |
10,000 |
|
Total assets |
536,482 |
|
|
------------- |
|
Total
liabilities |
411,651 |
|
Equities |
124,831 |
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|
------------- |
|
Unit: CNY’000 |
Jan. 1 2012 to Jul. 31, 2012 |
|
Revenue |
681,135 |
|
Profit before
tax |
3,791 |
|
Less: profit tax |
947 |
|
Profits |
2,844 |
Note: The detailed financials are not available in SAIC.
Important Ratios
=============
|
|
As
of Jul. 31, 2012 |
|
*Liabilities
to assets |
0.77 |
|
*Net profit margin
(%) |
0.42 |
|
*Return on
total assets (%) |
0.53 |
|
*
Revenue/Total assets |
1.27 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
LIQUIDITY:
AVERAGE
l
SC’s revenue 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.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
UK Pound |
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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.