MIRA
INFORM REPORT
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Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI TECHWELL
BIOPHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 4258, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.04.2001 |
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Com. Reg. No.: |
310112000300308 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in Manufacturing Biological & Chemical Active
Pharmaceutical Ingredient, Chemical Medicine, Biological Products, and
Pharmaceutical Intermediate as well as Importing and Exporting Commodities
and Technology. Subject product ranges include: ·
Urine Derived Products Antineoplastics Prostaglandins Antifungals |
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No of Employees : |
200 (Approximately) |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2013 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 consumption; (b) facilitating higher-wage job
opportunities for the aspiring middle class, including rural migrants and
increasing numbers of college graduates; (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. Debt overhang from its credit-fueled stimulus program in 2008-10,
particularly among local governments, and soaring property prices challenge
policy makers currently. Their efforts to cool a red-hot property market in
2011 appear to have curbed inflation, but contributed to slower GDP growth in
2012 and 2013. Slow recovery in Europe and other key export markets have also
retarded growth. 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 fixed investments
and exports in the future. However, China has made only marginal progress
toward these rebalancing goals. The new government of President XI Jinping has
signaled a greater willingness to undertake reforms that focus on China's
long-term economic health, including giving the market a more decisive role in
allocating resources.
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Source : CIA |
Company name & address
SHANGHAI TECHWELL BIOPHARMACEUTICAL CO., LTD.
NO. 4258, JINDU ROAD, MINHANG DISTRICT, SHANGHAI 201108 PR CHINA
TEL: 86 (0) 21-54427100
FAX: 86 (0) 21-54426560
EXECUTIVE SUMMARY
Date of Registration : APRIL 25, 2001
REGISTRATION NO. : 310112000300308
LEGAL FORM : Limited liabilities company
CHIEF EXECUTIVE : JI XIAOMING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 25,000,000
staff : 200
BUSINESS CATEGORY :
manufacturing & TRADING
Revenue : CNY 2,045,390,000 (AS OF DEC. 31, 2013)
EQUITIES : CNY 274,507,000 (AS OF DEC. 31, 2013)
WEBSITE : www.techwellpharma.com
E-MAIL :
sales@techwellpharma.com; market@techwellpharma.com
PAYMENT : AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : FAIRLY GOOD
OPERATIONAL TREND :
fairly steady
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.20 = 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
LEGAL
STATUS & HISTORY
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 310112000300308 on April 25, 2001.
SC’s Organization Code Certificate
No.: 70327459-3
SC’s Tax No.: 310112703274593
SC’s registered capital: CNY 25,000,000
SC’s paid-in capital: CNY 25,000,000
Registration Change Record:-
|
Date |
Change
of Contents |
Before
the change |
After
the change |
|
2002-08 |
Registered Capital |
CNY 10,000,000 |
CNY 25,000,000 |
|
2004-09 |
Legal Representative |
Mei Minquan |
Yu Xiong |
|
2005-05 |
Shareholder (s) (% of
Shareholding) |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Minquan 45% |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Yi 10% Ji Xiaoming 9.78% Gao Xiaoliang 6.64% Mo Zhengming 18.58% |
|
2008-03 |
(%
of Shareholding) |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Yi 10% Ji Xiaoming 9.78% Gao Xiaoliang 6.64% Mo Zhengming 18.58% |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Yi 4% Ji Xiaoming 12.68% Gao Xiaoliang 6.94% Mo Zhengming 21.38% |
|
2011-05 |
Legal Representative |
Yu Xiong |
Ji Xiaoming |
|
2014-06-03 |
Shareholder (s) (% of
Shareholding) |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Yi 4% Ji Xiaoming 12.68% Gao Xiaoliang 6.94% Mo Zhengming 21.38% |
Shanghai Modern Pharmaceutical
Co., Ltd. 55% Mei Yi 4% Ji Xiaoming 41% |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Shanghai Modern Pharmaceutical
Co., Ltd. |
55 |
|
Mei Yi |
4 |
|
Ji Xiaoming |
41 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Vice
Chairman and General Manager |
Ji Xiaoming |
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Chairman |
Wei Baokang |
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Director |
Jin Canhuang |
|
Mo Zhengming |
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|
Yu Xiong |
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|
Pan Zhenyun |
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|
Fu Min |
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Supervisor |
Li Yan |
|
Xiao Bin |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Shanghai Modern Pharmaceutical Co., Ltd. 55
Mei Yi 4
Ji Xiaoming 41
Shanghai Modern Pharmaceutical Co., Ltd.
--------------------------------------------
Registration No.: 310000000048680
Date of Registration: December 20, 2000
Legal Form: Shares Limited Company
Registered Capital: CNY 287,733,000
Legal Representative: Zhou Bin
Shanghai Modern Pharmaceutical Co., Ltd.
from Shanghai Institute of Pharmaceutical Industry as the main sponsor, the
Joint National Engineering Research Center for Pharmaceutical Preparations,
Shanghai Ruijin Hospital, Hiroji medical high-tech company's five co-sponsored
enterprises and to market-oriented high-tech pharmaceutical companies. The
company in 1997 was assessed as high-tech enterprises in
Address: No. 858, Yuyuan Road, Shanghai
Tel: 86 (0) 21-62510990
Fax: 86 (0) 21-62510787
Web: www.shyndec.com
MANAGEMENT
Ji
Xiaoming, Legal
Representative, Vice Chairman and General Manager
----------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 41
Ø
Working
experience (s):
At present, working in SC as legal representative, vice chairman and general manager
As director of SC at present
Wei Baokang,
Chairman
--------------------------------------------
Ø
Gender: M
Ø
Age: 46
Ø
Qualification:
Master Degree
Ø
Working
experience (s):
At present, working in SC as chairman
Also working in Shanghai Modern Pharmaceutical Co., Ltd. as general manager
As director of SC and Shanghai Modern Pharmaceutical Co., Ltd. at present
Director
-----------
Jin Canhuang
Mo Zhengming
Yu Xiong
Pan Zhenyun
Fu Min
Supervisor
--------------
Li Yan
Xiao Bin
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing
biological & chemical active pharmaceutical ingredient, chemical medicine, biological
products, and pharmaceutical intermediate; importing and exporting commodities
and technology.
SC is
mainly engaged in manufacturing and selling active pharmaceutical ingredients and
pharmaceutical intermediate.
SC’s products mainly include:
Urine
derived products
Antineoplastics
Prostaglandins
Antifungals
All products have been indexed into
"Chinese export catalogue of High & New Technology products".
SC sources its materials 100% from domestic market. SC sells 60% of its products in domestic market, and 40% to overseas market, mainly India, etc.
The
buying terms of SC include T/T 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. 200 staff at present.
SC
rents an area as its operating office and factory, but the detailed information
is unknown.
RELATED
COMPANY
u
Shanghai Polymer Pharma-ceutical & Excipient Co., Ltd.
Registration
No.: 310228000389684
Date
of Registration: September 19, 2000
Legal
Form: One-person Limited Liabilities Company
Registered
Capital: CNY 4,300,000
Legal
Representative: Fang Min
Address:
No.488 JiuGong Road Shanghai Jinshan Industrial Zone Shanghai
Tel:
86 (0) 21-57277208
Fax:
86 (0) 21-57277217
Web:
www.plmpharm.com
E-mail:
wenhua2003@vip.sina.com
u
Shanghai Institute of Pharmaceutical Industry
Registration
No.: 310106000120699
Date
of Registration: July 16, 2001
Legal
Form: State-owned Enterprise
Registered
Capital: CNY 536,920,000
Legal
Representative: Lu Weigen
Address:
No.1320, West Beijing Road, Jing'an District, Shanghai
Tel:
86 (0) 21-62479808
Fax:
86 (0) 21-62791715
Web:
www.sipi.com.cn
u
Shanghai Modern Hasen (Shangqiu) Pharmaceutical Co., Ltd.
Shanghai
Modern Hasen (Shangqiu) Pharmaceutical Co., Ltd. is a listed company Shanghai
Modern Pharmaceutical Co., Ltd. (stock code: 600 420) investment holding
company formed, the major shareholder of the Shanghai Institute of
Pharmaceutical Industry, is the pharmaceutical industry have a certain brand
well-known pharmaceutical R & D, production and sales of new pharmaceutical
company.
Address:
Shangqiu City 12 Wing Street, Henan
Sales
Department: 86 (0) 370-2611749
Merchants
Department: 86 (0) 370-2920001
Raw
Materials Department: 86 (0) 370-2920005
Fax:
86 (0) 370-2617031
Letter
Box: hasen-modern@163.com
Website:
http://www.hasen-modern.com.cn
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:
Industrial and
Commercial Bank of China Caohejing Sub-branch
AC#：022663-1001266309200001987
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2013 |
|
Total assets |
322,574 |
|
|
------------- |
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Total
liabilities |
48,067 |
|
Equities |
274,507 |
|
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|
Revenue |
2,045,390 |
|
Profits |
597,842 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
|
*Liabilities
to assets |
0.15 |
|
*Net profit
margin (%) |
29.23 |
|
*Return on
total assets (%) |
185.33 |
|
*Revenue /
Total assets |
6.34 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l
The revenue of SC appears fairly good in its line.
l
SC’s net profit margin is fairly good.
l
SC’s return on total assets is fairly good.
LIQUIDITY:
FAIRLY GOOD
l
SC’s revenue is in a
fairly good level, comparing with the size of its total assets.
LEVERAGE:
FAIRLY GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly good financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
UK Pound |
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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.