MIRA INFORM REPORT
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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
Hubei
Hongyuan Pharmaceutical Technology CO., LTD. |
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Registered Office : |
No. 428, Yishui North Road, Fengshan Town, Luotian County, Hubei Province 438600 PR |
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Country : |
China |
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Date of Incorporation : |
21.01.2002 |
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Com. Reg. No.: |
421123000005111 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Engaged in manufacturing and selling active pharmaceutical
ingredients and intermediates |
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No. of Employees |
500 |
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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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
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Source
: CIA |
Company
name and address
Hubei Hongyuan Pharmaceutical
Technology CO., LTD.
no. 428, yishui north road,
fengshan town, luotian county,
hubei province 438600 PR CHINA
TEL: 86 (0) 713-5072428/5072024 FAX: 86 (0) 713-5072224
EXECUTIVE
SUMMARY
INCORPORATION DATE : jan. 21, 2002
REGISTRATION NO. :
421123000005111
REGISTERED LEGAL FORM : SHARES LIMITED
COMPANY
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 70,000,000
BUSINESS LINE :
MANUFACTURING and trading
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
CNY
6.2378 =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 limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Jan. 21, 2002 and has been under the
present legal form since April of 2014.
Company
Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half
of whom shall be domiciled in The minimum registered
capital of a co. is CNY The board of directors must
consist of five to nineteen directors. If the
co. raises capital by public offer, the promoters must not subscribe less
than 35% of the total shares. the promoters’ shares are restricted to
transfer- within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes manufacturing and selling
glyoxylate, glyoxal, lithium hexafluorophosphate; manufacturing and selling API
(metronidazole, benzoyl metronidazole, tinidazole, ornidazole, secnidazole and
metronidazole disodium phosphate), Lu agent, syrup, tablets, granules, mixture;
(validity period as of Dec. 31, 2015); manufacturing and selling health care
products Ling Tu Fu Shen Brand Fu Qi Ren capsule (validity period as of Sep. 5,
2016); manufacturing and selling beverages (other drinks) (validity period as
of June 19, 2015); manufacturing and selling formaldehyde, formic acid
(validity period as of Mar. 29, 2015); manufacturing and selling dimetridazole
and pharmaceutical intermediates; selling sucralose; engaged in the coal
business accordance with the relevant provisions; importing and exporting goods
and technologies (excluding the items prohibited and limited by the state);
purchasing and selling agricultural and sideline products (excluding cocoon,
tobacco); retailing general merchandise. (with permit if needed)
SC is
mainly engaged in manufacturing and selling active pharmaceutical ingredients and
intermediates.
Mr.
Yin Guoping has been the legal representative, chairman and general manager
since 2002.
SC is known to
have approx. 500 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in the industrial zone of Luotian County. Our
checks reveal that SC rents the total premise about 18,000
square meters.
http://www.hbhypharm.com/ The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
E-mail: sales@hbhypharm.com
SC has passed ISO9001:2000 and GMP.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
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Registered capital |
CNY 500,000 |
CNY 3,148,000 |
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Registered capital |
CNY 3,148,000 |
CNY 20,000,000 |
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Registration number |
4211231002149 |
Present one |
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Company name |
Luotian Hongyuan Biochemical Co., Ltd. |
Hubei Hongyuan Pharmaceutical Co., Ltd. |
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Unknown |
Shareholdigs |
Yin Guoping 32.10% Liao Liping 11.76% Fang Ligao 5.96% Other individuals 50.18% |
Yin Guoping 32.1% Liao Liping 11.91% Fang Ligao 5.96% Xiao Jiahuai 5.96% Duan Xiaoliu 5.96% Lei Gaoliang 5.96% Gong Bingtao 5.96% Liu Zhanliang 5.96% Li Xiaoxiong 5.95% Xu Shuangxi 5.95% He Jianping 4.76% Deng Zhihua 3.57% |
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Shareholders |
Yin Guoping 32.1% Liao Liping 11.91% Fang Ligao 5.96% Xiao Jiahuai 5.96% Duan Xiaoliu 5.96% Lei Gaoliang 5.96% Gong Bingtao 5.96% Liu Zhanliang 5.96% Li Xiaoxiong 5.95% Xu Shuangxi 5.95% He Jianping 4.76% Deng Zhihua 3.57% |
Gong Chen 2% Lei Gaoliang 3% Liao Shengru 0.5% Xu Shuangxi 3% Deng Zhihua 3% Cheng Siyuan 1% Ding Zhihua 1% Duan Xiaoliu 3% Liao Zhongzhu 0.5% He Jianping 1% Li Xiaoxiong % Liu Zhanliang 3% Xiao Jiahuai 2.5% Yan Xiaohui 63% Liao Liping 10% Xiao Yaodong 1% Li Guoxin 0.5% |
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Registered capital |
CNY 20,000,000 |
Present amount |
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Shareholders and shareholding |
Gong Chen 2% Lei Gaoliang 3% Liao Shengru 0.5% Xu Shuangxi 3% Deng Zhihua 3% Cheng Siyuan 1% Ding Zhihua 丁1% Duan Xiaoliu 3% Liao Zhongzhu 0.5% He Jianping 1% Li Xiaoxiong 2% Liu Zhanliang 3% Xiao Jiahuai 2.5% Yan Xiaohui 3% Liao Liping 10% Xiao Yaodong 1% Li Guoxin 0.5% |
Present ones |
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Company name |
Hubei Hongyuan Pharmaceutical Co., Ltd. |
Present one |
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Legal form |
Limited liabilities co. |
Present one |
Organization code: 73519634X
Honors:
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Investment
amount % of Shareholding
Yan Xiaohui CNY
24,275,000 34.68
Yin Guoping CNY
15,275,000 21.82
Xu Shuangxi CNY
6,300,000 9
Liao Liping CNY
6,000,000 8.57
Hubei Hongyuan Charitable Foundation (in
Chinese Pinyin)
CNY
2,700,000 3.86
Lei Gaoliang CNY
1,800,000 2.57
Duan Xiaoliu CNY
1,800,000 2.57
Liu Zhanliang CNY
1,800,000 2.57
Xiao Jiahuai CNY
1,500,000 2.14
Li Xiaoxiong CNY
1,200,000 1.71
Deng Zhihua CNY
1,200,000 1.71
Gong Chen CNY
1,200,000 1.71
Cheng Siyuan CNY
600,000 0.86
Ding Zhihua CNY
600,000 0.86
He Jianping CNY
600,000 0.86
Xiao Yaodong CNY
600,000 0.86
Liao Shengru CNY
550,000 0.79
Other 9 individuals
CNY
2,000,000 2.86
l
Legal representative, Chairman and General Manager:
Mr. Yin Guoping, born in 1960, with university
education. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2002 to present Working in SC as
legal representative, chairman and general manager
l
Vice Chairman:
Mr. Yan Xiaohui is currently responsible for
the daily management of SC.
Working Experience(s):
At present Working in SC as vice chairman
l
Directors:
Xu Shuangxi
Duan Xiaoliu
Liu Zhanliang
l
Supervisors:
Gong Shuipeng
Lei Gaoliang
Wang Lintao
Li Guoxin
SC is
mainly engaged in manufacturing and selling active pharmaceutical ingredients and
intermediates.
SC’s products mainly include: Metronidazole, 2-Methyl-5-Nitroimidazole, 2-Methylimidazole,
Dimetridazole, Imidazole, 4-Nitroimidazole, and Metronidazole Benzoate, etc.
SC
sources its materials 100% from domestic market, mainly Hubei province. SC
sells 70% to overseas market, mainly European and American countries, and 30%
in domestic market, mainly Hubei and Jiangsu province.
The buying terms of SC include Check, T/T, and Credit of
30-60 days. The payment terms of SC include T/T, L/C, Check and Credit of 30-60
days.
Note:
SC’s management declined to release its major customers and suppliers.
According SC’s website:
Wuhan International Business Department
Tel: +86-27-59422698
Fax: +86-27-59422633
E-mail: sales@hbhypharm.com
Add:
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
Luotian Sub-branch
AC#：N/A
Relationship:
Normal.
SC’s management refused to release any financial information.
SC is considered medium-sized in its line with a development
history of 12 years. Taking into consideration of SC’s general
performance, reputation as well as market conditions we would rate SC as an
average credit risk company. Credit up to moderate amount may be considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.47 |
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1 |
Rs.99.70 |
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Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.