MIRA
INFORM REPORT
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Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
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Name : |
NCPC HEBEI HUAMIN PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 98, Hainan Road, Economic Technology Development Zone, Shijiazhuang,
Hebei Province, 052165 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.04.2010 |
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Com. Reg. No.: |
130000000023983 |
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Legal Form : |
One-Person Limited
Liability Company |
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Line of Business : |
manufacturing and selling
of preparation and pharmaceutical raw materials |
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No. of Employees : |
800 |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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
NCPC HEBEI HUAMIN PHARMACEUTICAL Co., Ltd.
NO. 98, HAINAN
ROAD, ECONOMIC TECHNOLOGY DEVELOPMENT ZONE, SHIJIAZHUANG, HEBEI PROVINCE,
052165 PR CHINA
TEL: 86 (0)
311-88152939 FAX: 86 (0)
311-88152939
EXECUTIVE SUMMARY
INCORPORATION DATE : APR. 28, 2010
REGISTRATION NO. : 130000000023983
REGISTERED LEGAL
FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 800
REGISTERED CAPITAL :
CNY 316,379,600
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
CNY 1,676,860,000 (AS OF DEC. 31,
2011)
EQUITIES :
CNY 358,650,000 (AS OF DEC. 31, 2011)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.13= 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
Note: SC’s correct address should be the heading one.
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 Apr. 28, 2010.
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 CNY100,000. 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 manufacturing granules preparation (cephalosporins), injection
preparation (cephalosporins), tablets preparation (including cephalosporins),
the hard capsules preparation (including cephalosporins), sterile bulk drugs,
bulk drugs; manufacturing semi-synthetic antibiotic intermediates; import and
export of goods and technology (with permit if needed).
SC is mainly
engaged in manufacturing and selling preparation and pharmaceutical raw
materials.
Mr. Wei Qingjie is
the legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 800 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the economic technology development zone of Shijiazhuang. SC’s accountant refused to release the detailed information of the area.
http://ncpchm.com/ The design is
professional and the content is well organized. At present it is in Chinese and
English versions.
Email: huamin@ncpchm.com
No significant events or changes were found during our checks with local
AIC.
MAIN SHAREHOLDER:
Name %
of Shareholding
North China Pharmaceutical Co., Ltd. 100
Legal representative: Wang Sheping
Registration No.: 130000000008365
Registered capital: CNY 1,378,577,558
The said company is listed in Shanghai Stock Exchange with the code of
600812.
Website: http://www.ncpc.com/ncpcintro.html
Tel.: 0311-85992039
Fax: 0311-86060942
Address: No. 388 Heping East Road,
Shijiazhuang, Hebei Province
Legal Representative,
Chairman and General Manager:
Mr. Wei Qingjie, born in 1969 with university education, senior
engineer, he is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative, chairman and general manager;
Also working in North China Pharmaceutical Group Corporation as director, working in NCPC Orchid Pharmaceutical Co., Ltd. as legal representative and chairman, working in North China Pharmaceutical Co., Ltd. as director and vice general manager.
Directors:
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Liu Chunxiao
Wen Tongli
Liu Hao
Li Yanling
Supervisor:
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Wang Aili
SC is mainly
engaged in manufacturing and selling preparation and pharmaceutical raw
materials.
SC’s products
mainly include: granules preparation (cephalosporins), injection
preparation (cephalosporins), tablets preparation (including cephalosporins),
the hard capsules preparation (including cephalosporins), sterile bulk drugs,
etc.
SC sources its materials 50% from domestic
market and 50% from overseas market. SC sells 80% of its products in domestic
market, and 20% of its products 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 Check, T/T, L/C, and Credit of 30-60
days.
Note:
SC declined to release its major clients and suppliers.
NCPC Orchid Pharmaceutical Co., Ltd.
Registered no.: 130000400001143
Legal representative: Wei Qingjie
Establishment date: 2002-9-2
North China Pharmaceutical Group Corporation
Registered no.: 130000000008902
Legal representative: Wang Sheping
Establishment date: 1995-12-29
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.
Bank of
Communications Hebei Branch
AC#：131080060146300002426
Relationship:
Normal.
Financial Summary
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Unit: CNY’000
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As of Dec. 31, 2011 |
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Total
liabilities |
2,997,180 |
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Equities |
358,650 |
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Total
liabilities & equities |
3,355,830 |
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========= |
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Turnover |
1,676,860 |
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Profits |
18,050 |
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Note: We did not find SC’s detailed
financial reports for Yr2011.
Important Ratios
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As
of Dec. 31, 2011 |
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*Liabilities
to assets |
0.89 |
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*Net profit
margin (%) |
1.08 |
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*Return on
total assets (%) |
0.54 |
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*Turnover/Total
assets |
0.50 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears good.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
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 |
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US Dollar |
1 |
Rs.59.64 |
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UK Pound |
1 |
Rs.90.14 |
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Euro |
1 |
Rs.77.99 |
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.