MIRA
INFORM REPORT
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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
NORTH CHINA PHARMACEUTICAL HUASHENG CO., LTD. |
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Registered Office : |
No. 8 Yangzi Road, Economic & Technical Development
Zone, Shijiazhuang, Hebei Province, 052160 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.05.1995 |
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Com. Reg. No.: |
130000400000589 |
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Legal Form : |
One-Person Limited Liability
Company |
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Line of Business : |
Engaged in manufacturing and selling pharmaceutical raw materials. |
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No. of Employees |
600 |
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 : |
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
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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, growth of the
private sector, development of stock markets and a modern banking system, 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 considered important to "economic
security," explicitly looking to foster globally competitive industries.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China 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 and
expanded the daily trading band within which the RMB is permitted to fluctuate.
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. Several factors are
converging to slow China's growth, including debt overhang from its
credit-fueled stimulus program, industrial overcapacity, inefficient allocation
of capital by state-owned banks, and the slow recovery of China's trading
partners. The government's 12th Five-Year Plan, adopted in March 2011 and
reiterated at the Communist Party's "Third Plenum" meeting in
November 2013, emphasizes continued economic reforms and the need to increase
domestic consumption in order to make the economy less dependent in the future
on fixed investments, exports, and heavy industry. 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
|
Source
: CIA |
Company name and address
NORTH CHINA PHARMACEUTICAL HUASHENG CO., LTD.
NO. 8
Yangzi Road, Economic & Technical Development Zone, Shijiazhuang, Hebei
PROVINCE, 052160 PR CHINA
TEL: 86
(0) 311-83090290/83090277/83090273
FAX: 86 (0) 311-83090280
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 4, 1995
REGISTRATION NO. : 130000400000589
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 600
REGISTERED CAPITAL :
cny 124,107,200
BUSINESS LINE : MANUFACTURING
TURNOVER : n/a
EQUITIES : CNY 161,310,000 (AS
OF DEC. 31, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.2291 = 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 Hebei Provincial Administration for
Industry & Commerce (AIC - The official body of issuing and renewing
business license).
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, selling and developing sterile bulk
drugs (streptomycin, capreomycin sulfate, spectinomycin hydrochloride), API (kasugamycin
hydrochloride, amphotericin B, bacitracin, vancomycin hydrochloride,
teicoplanin, cyclosporine, sirolimus, mycophenolate mofetil, fusidic acid,
mizoribine, natamycin); importing and exporting goods and technology; (the
following operation limited to branches): manufacturing APIs (mycophenolate
mofetil, sirolimus, tacrolimus, natamycin, mizoribine, mycophenolate sodium,
pamidronate disodium, daptomycin, clindamycin phosphate, clindamycin
hydrochloride, venlafaxine hydrochloride); manufacturing sterile bulk drugs
(phenylpropanolamine hydrochloride vancomycin, clindamycin phosphate,
clindamycin hydrochloride).
SC is mainly
engaged in manufacturing and selling pharmaceutical raw materials.
Mr.
Zhang Tianbing is legal representative, chairman and general manager of SC at
present.
SC is known to have approx. 600 employees at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the Economic
& Technical Development Zone of Shijiazhuang. Our checks reveal that SC
owns the total premise but SC’s accountant refused to release the gross area.
http://www.ncpchs.com/ The design
is professional and the content is well organized. At present it is in both
Chinese and English versions.
Email: mail@ncpchs.com
SC’s former Legal Representative was Liu Shouwen
Former Shareholders were USA Wincent Int’l Inc.
North China Pharmaceutical Co., Ltd.
North China Pharmaceutical Group Corp.
Former Legal Form was Chinese-foreign equity joint venture enterprise;
Former Registered Capital was USD 13,284,000.
Note: the change
details are not available at present.
Subject passed the annual inspection of 2012 with
Administration for Industry & Commerce.
Organization Code: 601702614
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
North China Pharmaceutical Co., Ltd
100
North China Pharmaceutical Co.,
Ltd. is listed in Shanghai Stock Exchange Market with the code 600812.
Registration No.:
130000000008365
Registered Legal Form: Shares
Limited Company
Chief Executive: Mr. Wang
Sheping (Chairman)
Add: No. 388, Heping East Road,
Shijiazhuang, Hebei Province, 050015 Pr China
Tel: 86 (0)
311-85993999/85992039
Fax: 86 (0) 311-86060942
E-mail: yanghaijing@ncpc.com
http://www.ncpc.com.cn/ncpcintro.html#
l
Legal representative, chairman and
general manager:
Mr. Zhang Tianbing is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working
in SC as chairman, legal representative and general manager.
l
Supervisor:
Meng Ruilin
SC is mainly
engaged in manufacturing and selling pharmaceutical raw materials.
Main Products:
Vancomycin Hydrochloride, Streptomycin Sulfate Sterile, Streptomycin Sulfate
Oral, Streptomycin Sulfate Crude, Spectinomycin Hydrochloride, Kasugamycin
Hydrochloride, Dihydrostreptomycin sulfate, Capreomycin Sulfate, Bacitracin,
Amphotericin B, etc.
SC sources its materials 100%
from domestic market. SC sells 60% of its products in domestic market, and 40%
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.
Note: SC’s management refused to release its main suppliers and clients.
North China Pharmaceutical Kangxin Co., Ltd.
=================================
Registration No.: 130000400001160
Incorporation Date:
Chairman: Wang Wentao
Hebei Welcome Pharmaceutical
Co., Ltd.
==============================
Registration No.: 130000400001119
Incorporation Date:
Chairman: Zhou Xiaobing
Web: http://www.ncpcwelcome.com/
NCPC Victor Co., Ltd.
=====================
Registration No.: 130000400002164
Incorporation Date:
Chairman: Zhou Xiaobing
Web: http://www.ncpcvictor.com/
North China Pharmaceutical Group Semisyntech
Co., Ltd.
==========================================
Registration No.: 130000000023532
Incorporation Date:
Chairman: Liu Guitong
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 Shijiazhuang Heping East Road Sub-branch
AC#：N/A
Relationship:
Normal.
Financial Summary
===============
Unit: CNY’000
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As of Dec. 31, 2013 |
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Total liabilities |
299,052 |
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Equities |
161,310 |
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Total assets |
460,362 |
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========= |
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Profits |
23,115 |
Note:
SC’s detailed financial report is not available at present.
Important Ratios
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as of Dec. 31,
2013 |
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*Liabilities to
assets |
0.65 |
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*Return on
total assets (%) |
5.02 |
l
SC’s return on total assets is fairly good.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
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.59.99 |
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1 |
Rs.101.75 |
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Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
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.