MIRA INFORM REPORT
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Report No. : |
317292 |
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Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BAOJI TIANXIN
PHARMACEUTICAL CO., LTD. |
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Registered Office : |
Caijiapo Economic & Technical Development Zone, Qishan County, Baoji,
Shaanxi Province, 722405 Pr |
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Country : |
China |
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Date of Incorporation : |
14.09.2004 |
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Com. Reg. No.: |
610323100001257 |
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Legal Form : |
Limited Liabilities Co |
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Line of Business : |
Subject is engaged in manufacturing and selling pharmaceutical
chemicals |
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No. of Employee : |
124 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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. In 2014 the People’s Bank of China (PBOC) doubled 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 2014 stood as the largest economy in the world, surpassing the US that year� 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; � 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name and address
BAOJI TIANXIN PHARMACEUTICAL
CO., LTD.
CAIJIAPO ECONOMIC & TECHNICAL
DEVELOPMENT ZONE, QISHAN COUNTY, BAOJI, SHAANXI PROVINCE, 722405 PR CHINA
TEL: 86 (0) 917-2968778/2968099 FAX: 86 (0) 917-2968099
EXECUTIVE
SUMMARY
INCORPORATION DATE :
SEP. 14, 2004
REGISTRATION NO. :
610323100001257
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
QIU ZHEN (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
124
REGISTERED CAPITAL : CNY 3,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
Unnown
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.21 =USD
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 Sep. 14, 2004.
Company Status: Limited
liabilities co.
This form of business in PR China is defined as a legal person. No more
than fifty shareholders contribute its
registered capital jointly. Shareholders bear limited liability to the extent
of shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows:
Upon the establishment of the co., an investment certificate is issued
to the each of shareholders.
The board of directors is comprised of three to thirteen members.
The minimum registered capital for a co. is CNY 30,000.
Shareholders may take their capital contributions in cash or by means of
tangible assets or intangible assets such as industrial property and
non-patented technology.
Cash contributed by all shareholders must account for at least 30% of
the registered capital.
Existing shareholders have pre-exemption right to purchase shares of the
co. offered for sale by the other shareholders and to subscribe for the newly
increased registered capital of the co.
SC’s registered business scope includes manufacturing API (with a permit
to operate); manufacturing intermediate (excluding hazardous chemicals);
exporting its products and technologies, importing materials, apparatus &
instrument, equipment, spare parts and relative technology for its production,
processing with the imported materials (excluding commodities limited or
prohibited by the state) (excluding the items needed permit according to laws,
administrative regulation and State Council)
SC is mainly
engaged in manufacturing and selling pharmaceutical chemicals.
Qiu Zhen has been
legal representative of SC since 2014.
SC is known to have approx. 124 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 Baoji. Our checks reveal that SC owns the total premise about 25,000 square
meters.
http://www.txpharm.com/
It includes the information on SC and its related companies. The design is
professional and the content is well organized. At present it is both in
Chinese and English versions.
E-Mail: office3@txpharm.com
Honors:
-----------
SC was honored as “Business Work Advanced Enterprise” by Baoji municipal
government in 2010; and “Exchequer Construction Advanced Enterprise” by Qishan county
government in 2007 and 2008.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered no. |
6103232000735 |
Present one |
|
2008-9-2 |
Shareholders |
Xu Jiangnan 81.8% Wang Guangtian 11.2% Qiu Qinyong 7% |
Xu Jiangnan 51.8% Wang Guangtian11.2% Qiu Qinyong 7% Qiu Junliang 30% |
|
Legal representative |
Xu Jiangnan |
Qiu Junliang |
|
|
2008-9-26 |
Name |
Baoji Tianxin Pharmaceutical Industry Co., Ltd. |
Baoji Tianxin Pharmaceutical Co., Ltd. |
|
2014-9-9 |
Legal representative |
Qiu Junliang |
Present one |
Organization code: 766309386
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Xu Jiangnan 51.8
Qiu Junliang 30
Wang Guangtian 11.2
Qiu Qinyong 7
l
Legal representative:
Qiu Zhen
is currently responsible for the overall management of SC.
Working Experience(s):
From 2014 to present Working in SC as legal
representative.
l
Supervisor:
Wang Guangtian
SC is mainly
engaged in manufacturing and selling pharmaceutical chemicals.
SC’s products mainly include: Mefenamic Acid.
SC sources its
materials 97% from domestic market, and 3% from overseas markets. SC sells 10%
of its products in domestic market, and 90% to overseas market, mainly
Southeast Asia.
The buying terms of SC include Check, L/C, 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 employee refused to release its
major customers or supplies.
Related companies: (according to http://www.txpharm.com/)
Zhejiang Tianxin Pharmaceutical Co., Ltd.
Registration number: 331023000035607
Legal representative: Xu Jiangnan
Jiangxi Tianxin Pharmaceutical Co., Ltd.
Registration number: 360200510000192
Legal representative: Xu Jiangnan
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.
The banking
information of SC is unknown.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
11 years. Due to lack of financial status, we are unable to recommend accurate
credit limit for SC. Taking into consideration of SC’s development history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.92.15 |
|
Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
|
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 |
|
-- |
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.