MIRA INFORM REPORT
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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
CHINA SINOPHARM INTERNATIONAL CORPORATION |
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Registered Office : |
No. 4 Huixin East Street, Chaoyang District, Beijing, 100029 Pr |
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Country : |
China |
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Date of Incorporation : |
18.02.1989 |
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Com. Reg. No.: |
100000000009468 |
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Legal Form : |
State-Owned Enterprise |
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Line of Business : |
Subject is engaged in the following four businesses: International trade,
Investment abroad, Medical services, Healthcare. |
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No. of Employees |
Not Available |
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 : |
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 – 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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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 and address
CHINA SINOPHARM INTERNATIONAL CORPORATION
NO. 4 HUIXIN EAST STREET, CHAOYANG DISTRICT, BEIJING, 100029 PR CHINA
TEL: 86 (0) 10-84618811/84663250 FAX: n/a
EXECUTIVE
SUMMARY
INCORPORATION DATE : FEB. 18, 1989
REGISTRATION NO. : 100000000009468
REGISTERED LEGAL FORM : STATE-OWNED ENTERPRISE
CHIEF EXECUTIVE :
mr. li can (legal representative)
STAFF STRENGTH :
n/a
REGISTERED CAPITAL : CNY 2,108,380,000
BUSINESS LINE :
trading, investing, medical
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE :
CNY 6.2383 = 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 Ren Min Bi
SC was registered as a state-owned enterprise at State Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Feb. 18, 1989.
Company
Status: State-owned enterprise This form of business in PR China is defined as a
commodity production or operational units of a socialist character which in
accordance with the law, has autonomy in management, takes full
responsibility for its profits and losses and practices independent
business accounting. It is a legal person established directly by central /
local government or enterprise owned by central or local government. In
theory, the liabilities of this form of enterprise are ultimately borne by
the government, since the adoption of company law in mid-1994, the Chinese
government has planned to separate the ownership from management and
liabilities bearing.
SC’s registered business scope includes
Ⅲ, Ⅱ categories: Ophthalmic
surgical instruments, puncture injection equipment, medical electronic
equipment, medical optical equipment, instruments and endoscopic equipment
(excluding cornea contact lenses ), medical ultrasound equipment and related
equipment , medical laser equipment, medical high frequency equipment, physical
therapy and rehabilitation equipment, medical MRI equipment, medical X -ray
equipment, medical X-ray ancillary equipment and components, medical
high-energy rays equipment, medical radionuclide equipment, clinical laboratory
analytical instruments, and extracorporeal blood processing equipment, planting
into materials and artificial organs (except hearing aids), operating rooms,
emergency rooms, clinics room equipment and apparatus, medical treatment of
cold, cold, cold storage equipment and apparatus, medical sanitary materials
and dressings, medical suture materials and adhesives, medical polymer
materials and products, interventional equipment; Ⅱ categories: basic
surgical instruments, ENT surgical instruments, thoracic cardiovascular surgery
surgical instruments, orthopedic surgery (orthopedic) surgical instruments,
general examination equipment, medicine equipment, medical laboratory equipment
and infrastructure tools, dental equipment and apparatus, ward care equipment
and appliances, disinfection and sterilization equipment and apparatus,
software (valid until
SC is mainly engaged in the following four businesses: International
trade, Investment abroad, Medical services, Healthcare.
Mr. Li Can is legal representative and general manager of SC at present.
The information of SC’s employees is not available at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Beijing. Our checks
reveal that SC owns the total premise about 2,000 square meters.
http://sinopharmintl.net
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-Mail: gly@sinopharmintl.com
Licenses &
Certificates:
=====================
Record Registration Form for a Foreign Trade
Operator
Drug Supply Certificate (including
Biological products and psychotropic drugs category II&III)
Medical Device Distributing Enterprise
License
Operation License for Dangerous Chemicals
Radiation Safety License
Health permit
Certificate of Overseas
Project Contracting and Labor Services
Qualifications for foreign aids projects
Certificate for Drug Good Supply Practice
ISO 9001:2000 Quality
Management System Certificate issued by SGS
Changes of SC’s
registered information:
|
Date |
Item |
Before changed |
After changed |
|
2004-1-13 |
Legal rep. |
Yang Zunrun |
Hua Jimin |
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Registered capital |
CNY 2,200,000 |
CNY 2,341,000 |
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2005-8-23 |
Registered capital |
CNY 2,341,000 |
CNY 5,001,000 |
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2006-10-9 |
Legal rep. |
Hua Jimin |
Ma Rang |
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2010-11-18 |
Company name |
China Medical Corporation for International Technical Cooperation |
Present one |
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2011-2-15 |
Legal rep. |
Ma Rang |
Zhou Yuxiang |
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2011-10-28 |
Registered capital |
CNY 5,001,000 |
CNY 1,000,000,000 |
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Unknown |
Registered no. |
1000001000946 |
Present one |
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Registered capital |
CNY 1,000,000,000 |
Present amount |
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Legal rep. |
Zhou Yuxiang |
Present one |
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 100009467
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
China National Pharmaceutical Group
Corporation 100
China National Pharmaceutical Group Corporation, (Sinopharm) is the
largest medical and healthcare group in China which is directly managed by
State-owned Assets Supervision and Administration Commission of the State
Council (SASAC), with the core businesses of distribution, logistics, retail,
scientific research and manufacture of healthcare related products.
Registration No.: 100000000005882
Chairman: She Lulin
Registered Capital: CNY 10,196,480,000
Web: http://www.sinopharm.com/
E-mail: webmaster@sinopharm.com
Add.: 9
Tel.: 86-10-82287799
Fax: 86-10-62033332
Legal Representative
and General Manager:
Mr. Li Can is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as
legal rep. and general manager.
SC is mainly engaged in the following four businesses: International
trade, Investment abroad, Medical services, Healthcare.
SC’s businesses mainly include:
International
trade:
Medical Export
Medical Import
Other Import and Export
International Logistic Business
With SC’s overseas distribution channel, financial strength and
experience in the business, SC focuses on import & export of pharmaceutical
products and aspire to be the largest and No.1 international pharmaceutical
trading brand in China.
Investment abroad
SC invests abroad and aspires to be China’s largest “go global” company
in pharmaceutical industry. SC’s overseas factories comply with GMP procedures
and provide the local market with cost-effective products and services.
Medical services:
Hospital Management
International Human Resource Development and Cooperation
Overseas Project Cooperation
Hospital medical and technical cooperation
Comprehensive services
Hospital medical equipment and process design
Hospital Medical Equipments Supply
Equipments Supply for Malaria Prevention and Treatment Center
SC is actively involved in the reform of public hospitals in China,
while also concentrating on international medical cooperation. SC is
establishing a medical service management platform which meets international
standards for State-owned key enterprises in China.
Healthcare:
MEC (Medical Examination Center)
E-commerce Platform on Healthcare Products
To meet the needs of People’s healthcare at all levels, SC offers products
ranging from health food to home medical equipment and others. SC strives
towards the goal to become a leader in the industry.
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.
Note: SC’s management declined to release its main clients and
suppliers.
According to SC’s website:
China National Pharmaceutical Foreign Trade Corporation
=========================================
Incorporation Date :
May 20, 1981
Registration No. :
100000000000313
Registered Legal Form :
State-owned enterprise
Legal Rep. :
Yan Bing
Web: http://www.sino-pharm.com
E-mail: office@sinopharm.com
Tel: 010-62026699
Fax: 010-62032345
Etc.
SC is known to have the following subsidiaries:
Sinopharm Fortune Way Company
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Incorporation Date :
Aug. 16, 1993
Registration No. :
110105005017129
Registered Legal Form :
State-Owned Enterprise
Chief Executive :
Ms. Liu Lili (General Manager)
No. 4, Huixin Dongjie, Chaoyang District, Beijing 100029 Pr China
Tel: 86 (0) 10-84663609/84663153
Fax: 86 (0) 10-84638169/84663776
China Sinopharm International (Shanghai) Co., Ltd.
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Incorporation Date :
Mar. 21, 2012
Registration No. :
310106000238302
Registered Legal Form :
One-person Limited Liability Company
Legal Rep. :
Wang Qi 王琦
Registered Capital :
CNY 30,000,000
Web: http://www.sinopharmintlsh.com
E-mail: csicsh@sinopharmintl.com
Add: No. 293, Jiangning Road, Jing’an District, Shanghai
Tel: 021-62711301
China Sinopharm Fortune International Trade Corporation
===========================================
Incorporation Date :
Sep. 6, 1993
Registration No. :
110105005017467
Registered Legal Form :
State-owned enterprise
Legal Rep. :
Li Shuhai
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.
Bank of China General Office
AC#：N/A
Relationship: Normal.
SC’s management declined to release any financial information.
SC was established in 1989 with 25 years operation history. Taking into
consideration of SC’s favorable background and operation history we would rate SC
as an average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.05 |
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1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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
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.