MIRA
INFORM REPORT
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Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG RUIYING PIONEER PHARMACEUTICAL CO.,
LTD. |
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Registered Office : |
Xuelou, North City, Mudan District, Heze City, Shandong Province,
274000 Pr |
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Country : |
China |
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Date of Incorporation : |
22.03.2010 |
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Com. Reg. No.: |
371700200010596 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in manufacturing and selling pharmaceutical
products. |
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No. of Employees : |
1,217 |
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 – June 30th, 2012
|
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 and address
SHANDONG RUIYING PIONEER PHARMACEUTICAL CO., LTD.
XUELOU, NORTH CITY, MUDAN DISTRICT, HEZE CITY, SHANDONG PROVINCE, 274000
PR CHINA
TEL: 86
(0) 530-5850184/5854766 FAX:
86 (0) 530-5850707
EXECUTIVE SUMMARY
INCORPORATION DATE : MAR. 22, 2010
REGISTRATION NO. : 371700200010596
REGISTERED LEGAL FORM : LIMITED LIABILITY
COMPANY
CHIEF EXECUTIVE :
MR. PENG JIXIAN (CHAIRMAN)
STAFF STRENGTH :
1,217
REGISTERED CAPITAL : CNY 325,000,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER :
CNY 416,669,000 (JAN. 1 TO nov. 30, 2012)
EQUITIES :
CNY 228,568,000 (AS OF nov. 30, 2012)
PAYMENT :
average
MARKET CONDITION : average
FINANCIAL CONDITION : fair
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.23= 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 Ren Min Bi
SC was registered as a Limited Liability Company at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Mar. 22, 2010.
Company Status: Limited Liability Company 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 manufacturing and selling sterile
bulk drugs, pharmaceutical raw materials s, freeze-dried powder (anticancer);
manufacturing and selling dioxygen piperazine, dioxygen piperazine carbonyl
chloride, EPCP the HO-EPCP, cefoperazone crude, cefamandole ester crude,
cefpiramide crude product, 6 - methyl-4-hydroxy -3 pyridinecarboxylic acid
(A-4), 6 - methyl-4-hydroxy-smoke amide-p-hydroxyphenyl acetic acid (A-6),
trimethyl chlorosilane, 7-the ATCA, cephalosporin C, 7-ACA, amino acid oxidase,
aminoacylase, and GL-7-ACA acylase.
SC is mainly engaged in manufacturing and selling pharmaceutical
products.
Mr. Peng Jixian is the legal representative and chairman of SC at
present.
SC is known to have approx. 1,217 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 Heze. The
detailed premise information is unknown.
Note: SC also has another operating address located at No. 66 Taishan
Road, Mudan District, Heze City, Shandong Province.
http://www.ruiying.cn/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
Email: hj8136@163.com
; service@rychem.com
According to SC’s management, Shanghai Xinya Pharmaceutical Co., Ltd.
intends to transfer its whole shareholdings (42%) in SC.
According to SC’s website, SC was originally known as Heze Ruiying
Pharmaceutical Group Co., Ltd.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shanghai Xinya Pharmaceutical Co., Ltd. 42
Peng Jixian
35
Shang Zhongdong
12
Zheng Quanhong
11
Shanghai Xinya Pharmaceutical Co., Ltd.
…………………………………………..
Legal representative: Ren Jian
Registration No.: 310115000054274
Incorporation date: Aug. 11, 1993
Registered capital: CNY 679,587,200
Website: http://www.xinyapharm.com/
Add: No. 978 Chuansha Road, Pudong New District, Shanghai
Tel: 021-58563780/021-22309200
Legal
representative and Chairman:
Mr. Peng Jixian is currently responsible for the overall management of
SC.
Working
Experience(s):
At present working
in SC as legal reprehensive and chairman;
Also working in Shandong Ruiying Chemical Co., Ltd. as legal
representative
SC is mainly engaged in manufacturing and selling pharmaceutical
products.
SC’s products mainly include: pharmaceutical intermediates, aseptic raw
drugs, biological pharmacy, anti-neoplastic drugs and pharmaceutical
preparations
SC sources its materials 90% from domestic market, and 10% from the
overseas market, mainly European countries. SC sells 70% of its products in
domestic market, and 30% to the overseas market, mainly Southeast Asia and
European countries.
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’s
management declined to release its major clients and suppliers.
Shandong Ruiying Chemical Co., Ltd.
………………………………………
Registration No.: 371700228017108
Legal representative: Peng Jixian
Etc.
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 banking information.
Financial Summary
Unit: CNY’000
|
|
as
of Dec. 31, 2011 |
as
of Nov. 30, 2012 |
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Total Liabilities |
785,412 |
1,097,426 |
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Shareholders equities |
309,671 |
228,568 |
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Total Assets |
1,095,083 |
1,325,994 |
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as
of Dec. 31, 2011 |
Jan.
1 to Nov. 30, 2012 |
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Turnover |
341,106 |
416,669 |
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Operating profit |
-97,681 |
-81,623 |
|
Net profit |
-96,994 |
-81,103 |
Note: we did not
find SC’s detailed financial reports.
Important
Ratios
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|
|
as
of Dec. 31, 2011 |
as
of Nov. 30, 2012 |
|
*Liabilities to assets |
0.72 |
0.83 |
|
*Net profit margin (%) |
-28.44 |
-19.46 |
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*Return on total assets (%) |
-8.86 |
-6.12 |
|
*Turnover/Total assets |
0.31 |
0.31 |
PROFITABILITY:
FAIR
The turnover of SC appears fairly good in its line.
SC’s net profit margin is poor.
SC’s return on total assets is fair.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered medium-sized in its line with fair financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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.