MIRA
INFORM REPORT
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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
THE NATIONAL
INSTITUTES OF PHARMACEUTICAL R & D co., ltd. |
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Registered Office : |
No. 27, Zhansimen Road, Shahe,, Changping District,
Beijing, 102206 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.08.2003 |
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Com. Reg. No.: |
110000005618887 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing
and selling nucleotide intermediate products. |
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No. of Employees : |
145 Employees |
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
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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
THE NATIONAL INSTITUTES OF PHARMACEUTICAL R & D co., ltd.
NO. 27, ZHANSIMEN ROAD, SHAHE,
CHANGPING DISTRICT, BEIJING, 102206
PR CHINA
TEL: 86 (0) 10-69732071/80721158
FAX: 86 (0) 10-69732075/69733474
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 8, 2003
REGISTRATION NO. : 110000005618887
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH :
145
REGISTERED CAPITAL : CNY 49,310,000
BUSINESS LINE :
R&D, MANUFACTURE
TURNOVER :
CNY 35,290,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 61,540,000 (AS OF DEC. 31,
2011)
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3699 = 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: SC’s correct address should be the heading one.
SC was registered as a limited liabilities company at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license) on Apr. 8, 2003.
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 manufacturing nucleotide intermediate products (excluding
pharmaceuticals), tablets, capsules, granules, soft capsules, pills, agent,
lyophilized tablets (including anticancer), small volume injection (including
antineoplastic), bulk drugs (docetaxel, ifosfamide, vinorelbine, gemcitabine,
oxaliplatin). Technology development, transfer, services, intermediaries and
advice of chemical drugs, traditional Chinese medicine and natural products,
bio-engineering drugs, functional foods and beverages, cosmetics,
pharmaceutical intermediates, fine chemical products; the detection of
pharmaceutical products; pharmaceutical engineering technological design; own
housing rental; property management. Exporting self-produced products and
technology and importing machinery and equipment, spare parts, raw and
supplementary materials needed by the enterprise, excluding the items limited
or prohibited by the state; conference services.
SC is mainly
engaged in researching, developing, manufacturing and selling nucleotide
intermediate products.
Mr. Luo Xielong is
legal representative and chairman of SC at present.
SC is known to
have approx. 145 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in Beijing. Our checks reveal that SC owns the
total premise, but the gross area of the premise is unspecific.
http://bpgc.com.cn The website belongs to SC’s parent company -
Beijing Pharmaceutical Group Co., Ltd. The design is professional and the
content is well organized. At present it is in Chinese version.
No significant changes were found during our checks with the local Administration
for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Beijing Pharmaceutical Group Co., Ltd.
74.65
Beijing Industrial Developing Investment
Management Co., Ltd.
20.28
Beijing Zizhu Pharmaceutical Co., Ltd.
4.06
Beijing Pharmaceutical Co., Ltd.
1.01
Beijing Pharmaceutical Group Co., Ltd.
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Incorporation date: March 28, 1987
Registration no.: 110000005004896
Registered capital: CNY 2,320,000,000
Legal rep.: Song Lin 宋林
Legal form: Chinese-foreign equity joint
venture enterprise
Web: http://bpgc.com.cn
Tel: 86-10-65001117
Fax: 86-10-65021695/ 65025120
Add: No. 5, Baijiazhuangxili, Dongsanhuan Road,
Beijing
Beijing Industrial Developing Investment Management Co., Ltd.
==============================================
Incorporation date: Feb. 28, 2002
Registration no.: 110000003599907
Registered capital: CNY 1,000,000,000
Legal rep.: Shi Youwen
Web: http://www.idimc.com
Tel: 86-10-66575959
Fax: 86-10-66573391
Add: 9/F, Block B, Fukai Building, No. 19,
Financial Street, Xicheng District, Beijing
l
Legal representative and Chairman:
Mr. Luo Xielong, born in 1952, with master’s degree. He is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
l
General Manager:
Mr. Sun Congxin is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager.
SC is mainly
engaged in researching, developing, manufacturing and selling nucleotide
intermediate products.
SC’s products
mainly include: nucleotide intermediate products.
SC sources its materials 30% from domestic
market, and 70% from overseas market, mainly India. SC sells 10% of its products
in domestic market, and 90% to overseas market, mainly America.
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 and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
According to the website: http://bpgc.com.cn
Beijing
Molike Technology Co., Ltd. (in Chinese Pinyin)
Beijing
Novartis Pharma Co., Ltd.
China
Resources Double-Crane Pharmaceutical Co., Ltd.
The
said company is a listed company in Shanghai Stock Exchange Market with the
code of 600062.
China
Resources Wandong Medical Equipment Co., Ltd.
The
said company is a listed company in Shanghai Stock Exchange Market with the
code of 600055.
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.
Industrial and Commercial Bank of China Beijing Changping Sub-branch
AC#：0200011709200022186
Relationship:
Normal.
Financial
Information
Unit: CNY’000
Note:
SC’s accountant refused to release the detailed financial reports for Yr2010
and Yr2011.
Important
Ratios
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As
of Dec. 31, 2010 |
As
of Dec. 31, 2011 |
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*Liabilities
to assets |
0.41 |
0.35 |
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*Net profit
margin (%) |
4.06 |
3.68 |
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*Return on
total assets (%) |
0.88 |
1.38 |
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*Turnover/Total
assets |
0.22 |
0.37 |
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* Cost of
goods sold/Turnover |
0.99 |
0.90 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line and
it increased in 2011.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
l
SC’s cost of goods sold is high in 2010 and average
in 2011, comparing with its turnover.
l
SC’s turnover is in a poor level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low in both years.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.82 |
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|
1 |
Rs.87.99 |
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Euro |
1 |
Rs.72.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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 |
-- |
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.