MIRA
INFORM REPORT
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Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
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Name : |
hubei
gedian humanwell pharmaceutical co., ltd. |
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Registered Office : |
Gedian Economical Development
Zone, E Zhou City, Hubei
Province 436070 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.02.2001 |
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Com. Reg. No.: |
420710000001714 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged
in manufacturing and selling lyophilized powder for injection, tablets, hard
capsules, bulk drugs. |
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No. of Employees |
450 |
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) |
|
China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
|
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
hubei gedian humanwell
pharmaceutical co., ltd.
gedian
economical development zone, e zhou city
hubei
province 436070 PR CHINA
TEL: 86
(0) 711-3812110
FAX: 86
(0) 711-3811590
EXECUTIVE SUMMARY
Date of Registration : february 26, 2001
REGISTRATION NO. : 420710000001714
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 128,255,000
staff : 450
BUSINESS CATEGORY :
manufacturing & trading
Revenue :
CNY 395,699,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 219,243,000 (AS OF DEC. 31, 2013)
WEBSITE : www.gdrfyy.com
E-MAIL :
rfzthx@steroid-chem.com
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.23 = 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
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.: 420710000001714 on February
26, 2001.
SC’s Organization Code Certificate
No.: 72611849-7
SC’s registered capital: cny 128,255,000
SC’s paid-in capital: cny 128,255,000
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Humanwell Healthcare (Group)
Co., Ltd. |
81.07 |
|
Wu Qian |
1 |
|
Lu Changgeng |
0.87 |
|
Deng Xiafei |
9.46 |
|
Zhou Jiansheng |
0.87 |
|
Yang Yanqing |
1 |
|
Yu Huayao |
1 |
|
Zheng Chenggang |
4.73 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Deng Xiafei |
|
Director |
Wu Yajun |
|
Wang Xuehai |
|
|
Li Jie |
|
|
Zhou Hansheng |
|
|
Zhang Xiaodong |
|
|
Supervisor |
Li Qianlun |
|
Shuai Jiwei |
|
|
Hu Dongzhen |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Humanwell Healthcare (Group)
Co., Ltd. 81.07
Wu Qian 1
Lu Changgeng 0.87
Deng Xiafei 9.46
Zhou Jiansheng 0.87
Yang Yanqing 1
Yu Huayao 1
Zheng Chenggang 4.73
Humanwell Healthcare (Group) Co., Ltd.
=================================
Date of Registration: March 30, 1993
Registration No.: 420100000011675
Legal Form: Shares Limited
Company
Registered Capital: CNY 528,777,222
Address: No.666 Gaoxin Road, East Lake
High-tech Development Zone, Wuhan, Hubei, China
Tel: 86-27-87173710
Fax: 86-27-87596393
Email: bd@renfu.com.cn
Web: www.humanwell.com.cn
MANAGEMENT
Deng Xiafei, Legal Representative and Chairman
---------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 51
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative and
chairman, also working in Wuhan Humanwell Healthcare
(Group) Co., Ltd. as vice CEO
Director
-----------
Wu Yajun
Wang Xuehai
Li Jie
Zhou Hansheng
Zhang Xiaodong
Supervisor
--------------
Li Qianlun
Shuai Jiwei
Hu Dongzhen
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and
selling lyophilized powder for injection, tablets (hormone: family planning,
medication), hard capsules (hormone: family planning, medication), bulk drugs
(mifepristone, oxcarbazepine, finasteride, ganciclovir, hydrochloric acidNemo
Sting, card phosphonic acid disodium diacetylene carbon loss esters Carmofur,
cyproterone acetate, amifostine, sodium nitroprusside, progesterone, folinic
acid, levonorgestrel, acetylene femalealcohol, gestodene, desogestrel,
medroxyprogesterone acetate, gemcitabine, budesonide, anti-cancer agents:
fludarabine phosphate, decitabine mesylate imatinib Benny), drugwith
accessories (phenol, ethanol, citric acid, ethyl acetate, stearic acid,
magnesium stearate, calcium stearate, Azone, sorbic acid, carbomer, polyethylene
glycol 600, polyethylene6000 alcohol, polyethylene glycol 400, polyethylene
glycol 4000, polyethylene glycol 1500, polyethylene glycol 1000, polysorbate
80, polysorbate 60, polysorbate 40, polysorbate 20, ethyl cellulosefactors,
microcrystalline cellulose, hydroxypropyl cellulose, hydroxypropyl methyl
cellulose, sodium carboxymethyl cellulose, crosslinked sodium carboxymethyl
cellulose, carboxymethyl starch sodium, sodium acetate, phosphoric acid,
disodium hydrogen phosphate, EDTAdisodium, dipotassium hydrogen phosphate,
dipotassium hydrogen phosphate trihydrate, potassium dihydrogen phosphate,
propylene glycol, triethanolamine, pectin, gum arabic, xanthan gum, dimethyl
sulfoxide); exporting its products and technology; importing materials,
instrument, machinery and equipment, parts and technology needed for its
production, excluding the goods forbidden by the government; processing with
imported materials, processing with imported samples, assemblying with imported
parts, and compensation trade in agreement.
SC is
mainly engaged in manufacturing and selling lyophilized powder for injection,
tablets, hard capsules, bulk drugs.
SC’s
products mainly include:
Finasteride
Cyproterone Acetate
Budesonide
Progesterone
Mifepristone tablets
Mifepristone capsules
Etc.
SC sources its materials 100% from domestic
market, mainly Hubei. SC sells 65% of its products in domestic market, and 35%
to overseas market, mainly Southeast Asian market.
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. 450
staff at present.
SC owns an area as
its operating office & factory of approx. 80,000 sq. meters at the heading
address.
RELATED COMPANY
SC is not known to have any subsidiary at present.
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:
Bank
of China Gedian Development Zone Sub-branch
AC#:
02517508091001
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
|
Total assets |
428,503 |
577,232 |
|
|
------------- |
------------- |
|
Current
liabilities |
-- |
253,035 |
|
Non-current
liabilities |
-- |
104,954 |
|
|
------------- |
------------- |
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Total
liabilities |
242,673 |
357,989 |
|
Equities |
185,830 |
219,243 |
|
|
------------- |
------------- |
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Revenue |
-- |
395,699 |
|
Profits |
37,260 |
37,452 |
Important Ratios
=============
|
|
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
|
*Liabilities
to assets |
0.57 |
0.62 |
|
*Net profit margin
(%) |
-- |
9.46 |
|
*Return on
total assets (%) |
8.70 |
6.49 |
|
*Revenue/Total
assets |
-- |
0.69 |
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:
AVERAGE
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
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.
CONCLUSIONS
SC is considered medium-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.