MIRA INFORM REPORT
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Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU HUALAN NEW PHARMACEUTICAL MATERIAL CO., LTD. |
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Registered Office : |
No. 1488 East Yabao Avenue, Shengang Town, Jiangyin City Jiangsu
Province 214443 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.06.1992 |
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Com. Reg. No.: |
320281400006822 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject is engaged in manufacturing & selling rubber bottle
stoppers, plastic infusion containers covered with polypropylene composition,
the interface, low density polyethylene solid pharmaceutical film & bags.
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No. of Employees : |
600 |
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 and address
JIANGSU HUALAN NEW PHARMACEUTICAL MATERIAL CO., LTD.
NO. 1488 EAST YABAO AVENUE, SHENGANG TOWN, JIANGYIN CITY JIANGSU
PROVINCE 214443 PR CHINA
TEL: 86 (0) 510-68978889
FAX: 86 (0) 510-86621056
EXECUTIVE SUMMARY
Date of Registration : june 4, 1992
REGISTRATION NO. : 320281400006822
LEGAL FORM : Shares limited Company
CHIEF EXECUTIVE :
hua guoping (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 110,000,000
staff :
600
BUSINESS CATEGORY : MANUFACTURING
& TRADING
Revenue :
CNY 495,772,000 (AS OF DEC. 31, 2011)
EQUITIES :
CNY 270,645,000 (AS OF DEC. 31, 2011)
WEBSITE : www.hlnpm.com
E-MAIL :
hualan@hlnpm.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.14 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a shares limited company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 320281400006822 on June 4, 1992.
SC’s Organization Code Certificate No.:
60798205-5
SC’s Tax No.: 320281607982055
SC’s registered capital: CNY 110,000,000
SC’s paid-in capital: CNY 110,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Company Name |
Jiangyin Lanling Bottle Stopper Co., Ltd. |
Jiangsu Hualan New Pharmaceutical Material
Co., Ltd. |
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Registered Capital |
CNY 88,000,000 |
CNY 110,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Jiangyin Hualan Investment Co., Ltd. |
32.57 |
|
Hua Yimin |
20.00 |
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Jianyin International Medical Industry Equity Investment Co., Ltd. |
20.00 |
|
Jianyin International Healthcare Investment Management (Tianjin) Co.,
Ltd. |
5.00 |
|
Suzhou Fenhu Venture Capital Co., Ltd. |
3.20 |
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Jiangsu Kanion Group Co., Ltd. |
2.75 |
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Jiangyin Hualing Investment & Management Co., Ltd. |
1.47 |
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Jiangyin Huaping Investment & Management Co., Ltd. |
1.36 |
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Guo Shunhua |
1.28 |
|
Ruiyang Lita Purification Science and Technology Co., Ltd. |
0.92 |
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Other Shareholders |
11.45 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Hua Guoping |
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General Manager |
Hua Yimin |
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Director |
Yang Julan |
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Hua Xuanwei |
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Zhao Shijun |
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Xu Xiaolin |
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Li Junde |
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Bai Zhipeng |
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Yu Lixin |
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Supervisor |
Yang Jianguo |
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Xie Lijun |
RECENT DEVELOPMENT
Qualifications and
honors:
======================
In 1998: SC was the first to pass certification of ISO9002 Quality
Management System in rubber stopper industry;
In 2004: SC was appraised by
Jiangsu Private Science & Technology Enterprise Association as private
science and technology enterprise of Jiangsu Province;
SC was appraised by Department of Science and Technology of Jiangsu
Province as hi-tech enterprise of Jiangsu Province.
In 2005: SC was appraised by
Environmental Protection Agency of Jiangyin as advanced collective for
environmental protection;
SC was appraised by Jiangsu Patriotic Public Health Campaign Committee
as patriotic public health advanced unit organization of Jiangsu Province;
SC was appraised by Department of Science and Technology of Jiangyin as
technological innovation advanced enterprise of Jiangyin;
SC was appraised by Wuxi Municipal Government as top ten scientific
& technological private enterprises in Wuxi;
New composite membrane pharmaceutical butyl rubber stopper of our
company was listed into Jiangsu Key Torque Plan Project by Department of
Science and Technology of Jiangsu Province;
In 2006: SC was appraised by
Jiangyin People's Government as top 100 enterprises of Jiangyin;
SC was appraised by Wuxi People's Government as Wuxi AAA contract
trustworthy enterprise;
SC became member of CNPPA after approval of Council of CNPPA;
SC was appraised by Department of Science and Technology of Jiangsu
Province as Hi-tech Enterprise of Jiangsu Province.
In 2007: SC was appraised by the
State Ministry of Science and Technology as key Hi-tech enterprise of National
Key Torque Plan;
"Hualan" product was appraised as Brand Product of Jiangsu
Province;
"Hualan" brand was appraised by Wuxi Administration Bureau for
Industry and commerce as Famous brand of Wuxi.
In 2008: Won the title of Jiangsu Quality Award (Jiangsu Quality Award
Certificate Board);
SC was listed in top 50 industrial enterprises of Jiangyin.
In 2009: SC won outstanding
contribution unit award of Chinese pharmaceutical packaging career;
Won the honor of "2009 enterprise with the most valuable investment
of Chinese healthcare industry".
In 2010: Non-silication
pharmaceutical rubber stopper of our company was appraised by Department of
Science and Technology of Jiangsu Province as high-tech product of Jiangsu
Province;
"Hualan" brand was appraised by Jiangsu Administration Bureau
for Industry and Commerce as famous brand of Jiangsu Province.
In 2011: SC was identified as the National Torch Plan Key High-tech
enterprises by Torch High Technology Industry Development Center;
＂Hualan＂ trademark was
identified as ＂China well-known Brand＂by the State Industry and Commerce Trademark Office ;
Sulfur-zinc halide butyl rubber stopper was identified as high-tech
products in Jiangsu Province by Technology Department of Jiangsu Province;
Etc.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Jiangyin Hualan Investment Co., Ltd. 32.57
Hua Yimin 20.00
Jianyin International Medical Industry Equity Investment Co., Ltd. 20.00
Jianyin International Healthcare Investment Management (Tianjin) Co.,
Ltd. 5.00
Suzhou Fenhu Venture Capital Co., Ltd. 3.20
Jiangsu Kanion Group Co., Ltd. 2.75
Jiangyin Hualing Investment & Management Co., Ltd. 1.47
Jiangyin Huaping Investment & Management Co., Ltd. 1.36
Guo Shunhua 1.28
Ruiyang Lita Purification Science and Technology Co., Ltd. 0.92
Other Shareholders 11.45
Jianyin International Medical Industry Equity Investment Co., Ltd.
===================================================
Date of Registration: October 12, 2009
Registration No.: 120191000051055
Legal Form: Limited Liabilities
Company
Chief Executive: Hu Zhanghong
Registered Capital: CNY 2,619,970,000
Jianyin International Healthcare Investment Management (Tianjin) Co.,
Ltd.
==========================================================
Date of Registration: November 10, 2008
Registration No.: 120191000037123
Legal Form: Limited Liabilities
Company
Chief Executive: Hu Zhanghong
Registered Capital: CNY 80,000,000
Jiangsu Kanion Group Co., Ltd.
==========================
Date of Registration: May 14, 1999
Registration No.: 320700000029477
Legal Form: Limited Liabilities
Company
Chief Executive: Xiao Wei
Registered Capital: CNY 150,000,000
MANAGEMENT
Hua Guoping, Legal Representative and Chairman
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Gender: M
Age: 56
Qualification: University
Working experience (s):
At present, working in SC as legal representative and chairman
Also working in Jiangyin Hualan Electromechanical Technology Co., Ltd.
as legal representative
Hua Yimin, General
Manager
--------------------------------------------------
Gender: M
Age: 31
ID# 320219198203291015
Qualification: University
Working experience (s):
At present, working in SC as general manager and director
Also working in Jiangsu Hualan Imp. & Exp. Co., Ltd., Jiangsu Huayang
Medical Technology Co., Ltd. and Chongqing Fuling Sanhai Lanling Co., Ltd. as
legal representative
Director
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Yang Julan
Hua Xuanwei
Zhao Shijun
Xu Xiaolin
Li Junde
Bai Zhipeng
Yu Lixin
Supervisor
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Yang Jianguo
Xie Lijun
BUSINESS OPERATION
SC’s registered business scope includes manufacturing rubber bottle
stoppers, plastic infusion containers covered with polypropylene composition,
the interface, low density polyethylene solid pharmaceutical film & bags;
importing and exporting commodities and technology, excluding the items
prohibited or limited by the country.
SC is mainly engaged in manufacturing & selling rubber bottle
stoppers, plastic infusion containers covered with polypropylene composition,
the interface, low density polyethylene solid pharmaceutical film & bags.
Brand: 
SC’s products mainly include:
The sixth generation butyl compound film series
The seventh generation butyl compound film series
Butyl rubber frozen dry series
Butyl rubber antibiotics series
Butyl rubber transfusion series
Three-piece series
Gasket
Plasma
SC sources its materials 100% from overseas market. SC sells 80% of its products in domestic market, and 20% to the 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 T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 600
staff at present.
SC owns an area as its operating office & factory of approx. 100,000
sq. meters at the heading address.
RELATED COMPANY
SC is known to
invest in the following companies: (According to SC’s website)
Chongqing Fuling Sanhai Lanling Co., Ltd.
--------------------------------------------------
Registration No.: 500102000007132
Registered Capital: CNY 28,580,000
Legal Representative: Hua Yimin
Jiangsu Huayang Medical Technology Co., Ltd.
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Legal Representative: Hua Yimin
Jiangsu Hualan Imp. & Exp. Co., Ltd.
------------------------------------------
Registration No.: 320281000118174
Legal Representative: Hua Yimin
Date of Registration: Jun. 9, 2004
Address: East Yabao Avenue, Shen’Gang, Lin’Gang New City, Jiangyin,
Jiangsu Province, 214443 Pr China
Tel: 86 (0) 510-86683339
Fax: 86 (0) 510-86683392
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
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Unit: CNY’000 |
As of Dec. 31,
2011 |
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Total assets |
801,061 |
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Total liabilities |
530,416 |
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Equities |
270,645 |
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Revenue |
495,772 |
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Profits |
21,359 |
Note: The detailed financials for Y2011 are not available in SAIC.
Important Ratios
=============
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As of Dec. 31,
2011 |
|
*Liabilities to assets |
0.66 |
|
*Net profit margin (%) |
4.31 |
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*Return on total assets (%) |
2.67 |
|
* Revenue/Total assets |
0.62 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
LIQUIDITY: FAIR
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
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.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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 |
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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 |
|
<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.