MIRA
INFORM REPORT
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Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU
RONGDA PHARM & CHEM CO., LTD. |
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Registered Office : |
Room 5001-1, Building
B, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.04.2008 |
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Com. Reg. No.: |
330104000034526 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Service: pharmaceuticals and chemical products technology development,
technical services, technical consultation, technology transfer, software development;
wholesaling and retailing chemical products and raw materials (excluding
hazardous chemicals and precursor chemicals), electronic products, general
machinery and cosmetics; import and export of goods (with permit if needed);
the other without approval of all legitimate projects. |
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No of Employees : |
10 |
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 : |
Slow but correct |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
Since the late 1970s
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Source
: CIA |
Company name & address
HANGZHOU RONGDA
PHARM & CHEM CO., LTD.
ROOM 5001-1,
BUILDING B, NO.
TEL: 86 (0)
571-28281880/28281885
FAX: 86 (0)
571-28281887
***Note: The (Room
563, Xincheng New City, Plaza, Dingqiao Hangzhou) was SC’s former one, while SC
is operating in the heading address.
EXECUTIVE SUMMARY
Date of Registration : aprIL 25, 2008
REGISTRATION NO. : 330104000034526
LEGAL FORM : ONE-PERSON LIMITED
LIABILITY COMPANY
CHIEF EXECUTIVE :
zhang xueying (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY
500,000
staff :
10
BUSINESS CATEGORY : TRADING
REVENUE :
CNY 5,190,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY 160,000 (AS OF DEC. 31, 2013)
WEBSITE : www.rdpharm.com
E-MAIL :
sales@rdpharm.com
PAYMENT :
AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : fair
OPERATIONAL TREND : fair
GENERAL REPUTATION : fair
EXCHANGE RATE :
CNY 6.15 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY –
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 limited liabilities company of PRC on April 25, 2008. However, SC changed to
present legal form, and was registered as one-person limited liabilities
company of PRC with State Administration of Industry & Commerce (SAIC)
under registration No.: 330104000034526 on July 17, 2013.
SC’s Organization Code Certificate No.:
67397552-3
SC’s Tax No.: 330100673975523
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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2013-7-17 |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
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Shareholder (s) (% of Shareholding) |
Zhang Xueying 张雪英 60% Jiang Lihui 姜礼辉 40% |
Zhang Xueying 张雪英 100% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Zhang Xueying |
100 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Zhang Xueying |
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General Manager |
Wang Teng |
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Supervisor |
Lin Haibing |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Zhang Xueying 100
MANAGEMENT
Zhang Xueyin, Legal Representative and Chairman
-------------------------------------------------------------------------------
Gender: F
Age: 40
ID# 332622197402165627
Qualification: University
Working experience (s):
At present, working in SC as legal representative and chairman
Wang Teng, General
Manager
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as general manager
Also working in Huzhou Rongda Pharmaceutical Co., Ltd. as legal
representative
Lin Haibing, Supervisor
-------------------------------------------
Gender: M
BUSINESS
OPERATION
SC’s registered business scope includes service: pharmaceuticals and
chemical products technology development, technical services, technical consultation,
technology transfer, software development; wholesaling and retailing chemical
products and raw materials (excluding hazardous chemicals and precursor
chemicals), electronic products, general machinery and cosmetics; import and
export of goods (with permit if needed); the other without approval of all
legitimate projects.
SC is mainly engaged in selling APIs (active pharmaceutical ingredient)
and its intermediates.
SC’s products mainly include: eflornithine hydrochloride hydrate,
fulvestrant, lapatinib ditosylate, anastrozole, entecavir hydrate, ibandronate
sodium, double benzimidazole, dronedarone, naratriptan, lmatinib, letrozole
SC sources its products 100% from domestic market. SC sells 60% of its products in domestic market and 40% of its products to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Staff &
Office:
--------------------------
SC is known to have approx. 10
staff at present.
SC rents an area as its operating office of approx. 100 sq. meters at
the heading address.
RELATED
COMPANY
Huzhou Rongda Pharmaceutical Co., Ltd.
------------------------------
Date of Registration: February 28, 2011
Registration No.: 330523000040075
Chief Executive: Wang Teng
Registered Capital: CNY 3,000,000
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
Basic Bank:
Agricultural Bank of
AC#: 050201040010210
FINANCIALS
Balance Sheet
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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90 |
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Notes receivable |
0 |
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Accounts receivable |
10 |
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Advances to suppliers |
0 |
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Other receivable |
510 |
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Inventory |
1,260 |
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Non-current assets within one year |
0 |
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Other current assets |
460 |
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------------------ |
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Current assets |
2,330 |
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Fixed assets |
30 |
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Long-term prepaid expenses |
0 |
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Deferred income tax assets |
0 |
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Other non-current assets |
1,050 |
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Total assets |
3,410 |
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============= |
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Short-term loans |
0 |
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Notes payable |
0 |
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Accounts payable |
2,330 |
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Advances from clients |
0 |
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Other payable |
280 |
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Other current liabilities |
520 |
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Current liabilities |
3,130 |
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Non-current liabilities |
120 |
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Total liabilities |
3,250 |
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Equities |
160 |
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Total liabilities & equities |
3,410 |
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Income Statement
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Unit: CNY’000 |
As of Dec. 31,
2013 |
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Revenue |
5,190 |
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Cost of sales |
4,610 |
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Sales expense |
150 |
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Management expense |
440 |
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Finance expense |
8 |
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Profit before tax |
17 |
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Less: profit tax |
4 |
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13 |
Important Ratios
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As of Dec. 31,
2013 |
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*Current ratio |
0.74 |
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*Quick ratio |
0.34 |
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*Liabilities to assets |
0.95 |
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*Net profit margin (%) |
0.25 |
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*Return on total assets (%) |
0.38 |
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*Inventory / Revenue ×365 |
89 days |
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*Accounts receivable/ Revenue ×365 |
1 days |
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*Revenue/Total assets |
1.52 |
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*Cost of sales / Revenue |
0.89 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a fair level.
SC’s quick ratio is maintained in a fair level.
The inventory of SC appears large.
The accounts receivable of SC appears small.
SC has no short-term loans.
SC’s revenue is in an average 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 above average.
Overall financial
condition of the SC: Fair.
CONCLUSIONS
SC is considered small-sized in its line with fair financial conditions.
The large amount of inventory may be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.21 |
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1 |
Rs.97.80 |
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Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
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.