MIRA INFORM REPORT
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Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
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Name : |
sinoPharm Jiangsu co., Ltd. |
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Registered Office : |
No. 6 Building, Xincheng Technology Park, No. 69 Olympic Street, Jianye District, Nanjing, Jiangsu Province, 210019 PR |
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Country : |
China. |
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Date of Incorporation : |
05.01.1998 |
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Com. Reg. No.: |
320000000064357 |
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Legal Form : |
One-person limited liability company |
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Line of Business : |
Subject is engaged in trading medicinal intermediate, medicine raw materials, medicine products, medical appliances |
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No. of Employees : |
130 |
RATING & COMMENTS
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MIRAs 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 : |
Unknown |
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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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 goal
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Source
: CIA |
company name and address
sinoPharm Jiangsu
co., Ltd.
NO. 6 BUILDING,
XINCHENG TECHNOLOGY PARK,NO. 69 OLYMPIC STREET, JIANYE DISTRICT, NANJING,
JIANGSU PROVINCE, 210019 PR CHINA.
TEL: 86 (0)
25-84788555/84734323
FAX: 86 (0)
25-84788596/84721595
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 5, 1998
REGISTRATION NO. : 320000000064357
REGISTERED LEGAL FORM
: ONE-PERSON LIMITED
LIABILITY COMPANY
CHIEF EXECUTIVE : MR. zhuang
ZHAOHUI (CHAIRMAN)
STAFF STRENGTH : 130
REGISTERED CAPITAL :
CNY 10,000,000
BUSINESS LINE : TRADING
TURNOVER : N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.07 = 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
SC was registered as a one-person limited liability company at provincial Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license).
Company Status: One-person
Limited Liability Company
一人有限责任公司 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 shareholders 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.
SCs registered business scope includes permit manage items: wholesaling traditional Chinese medicine patent prescription, chemical medical raw materials, chemical medicine preparation, biology chemical medicine, antibiotic, psychotropic medicine (Grade II), medical poisonous pharmaceutical; selling Grade II & III medical appliances, hazardous chemicals; general manage items: importing and exporting commodities and technology; selling Grade I & II medical appliances (excluding permits manage items), feed and feed additives; selling chemical products (excluding hazardous chemicals), disinfection products.
SC is mainly engaged in trading medicinal intermediate, medicine raw materials, medicine products, medical appliances, etc
Mr. Zhuang Zhaohui is legal representative and chairman of SC at present.
SC is known to have approx. 130 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in the Xincheng Technology Park of Nanjing. Our checks reveal that SC rents the total premise, but SCs accountant refused to release the gross area.
http://www.sino-pharmjs.com/ The design is professional and the content is well organized. At present it is in Chinese, English, etc. versions.
Email: sinopharm@goldenhighway.com
Changes of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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2012 |
Registered capital |
CNY 3,000,000 |
present
amount |
See below for SC as executive party (defendant).
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Executed Party |
Sinopharm Jiangsu Co., Ltd. |
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Court |
Yantai Zhifu District People's Court |
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Date of Case |
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Case Number |
(2007)01939 |
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Claim Amount |
RMB 44,450 |
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Case Status |
Completed |
Remark: Due to the lack of information, we are unable to provide the cause of action, judgment or other information.
MAIN SHAREHOLDERS:
Name % of Shareholding
Nanjing Goldenhighway International Supply Chain Management Co., Ltd. 100
It is jointly occupying the heading premise with SC.
Tel: 025-84788666
Fax: 025-84722437
E-mail: care@goldenhighway.com
Legal representative, chairman and general manager:
Mr. Zhuang Zhaohui, ID # 320106196807040018, born in 1968. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as chairman, legal representative and general manager
Supervisor:
..
Chen Zhaohui (ID# 320106680606281)
SC is mainly engaged in trading medicinal intermediate, medicine raw materials, medicine products, medical appliances, etc. (
Main Products: Chinese traditional patent medicine, chemical pharmaceutical product, chemical medicine preparation, biochemical medicine, antibiotics, psychotropic drugs (category II), medical poisonous substances, medicine intermediate, fine chemical products, high quality and high-tech diagnostic products, medical appliances, etc.
SC sources its merchandise 50% from domestic market, and 50% from overseas market. SC sells 80% of its products in domestic market, and 20% 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: SCs management
declined to release its major clients and suppliers.
According to the website http://www.goldenhighway.com :
Nanjing Goldenhighway Chemicals Co., Ltd.
Website: http://www.goldenhighway-chem.com/
Fax: +86 25 8478 8659
Taian Havay Chemicals Co., Ltd.
Website: http://www.havay.com.cn/
Tel: 4009-288-777
Email: w.swallowtail@goldenhighway.com
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 & Commercial Bank of China
AC#：4301017609100220497
Relationship: Normal.
SCs management declined to release any financial information.
SC is considered medium-sized in its line with 15 years development history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.38 |
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1 |
Rs.102.25 |
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Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
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 SCs 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.