MIRA
INFORM REPORT
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Report No. : |
334658 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HUNAN DONGTING PHARMACEUTICAL CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.03.1997 |
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Com. Reg. No.: |
430000000025977 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing active pharmaceutical ingredients, tablet, small volume
injection agent (with license, validity period as of December, 2015); importing and exporting commodities and
technology (excluding the items limited and prohibited by the law). |
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No. of Employees : |
750 |
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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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; (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 2014 more than 274 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 passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company name & address
HUNAN DONGTING PHARMACEUTICAL CO., LTD.
No. 16 Dongyan Road, Deshan, ChangdE CITY, Hunan province, 415001 PR CHINA
TEL: 86 (0) 736-7316383/7315785/7312155
FAX: 86 (0) 736-7313818
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 26, 1997
REGISTRATION NO. :
430000000025977
REGISTERED LEGAL FORM :
SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
MR. GUO WEI (LEGAL REPRESENTATIVE)
STAFF STRENGTH : 750
REGISTERED CAPITAL : CNY 110,063,918
BUSINESS LINE :
MANUFACTURING & SELLING
TURNOVER :
CNY 403,500,000 (AS OF Dec. 31,
2013)
EQUITIES :
CNY 265,800,000 (As of dec. 31,
2013)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE RATE :
CNY 6.24 =USD
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 shares
limited company at local Administration for Industry & Commerce
(AIC-The official body of issuing and renewing business license) on March 26,
1997.
Company Status: Shares
Limited Company 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 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. 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 active
pharmaceutical ingredients, tablet, small volume injection agent (with license,
validity period as of December, 2015); importing
and exporting commodities and technology (excluding the items limited
and prohibited by the law).
SC is mainly engaged in manufacturing and selling haemostatic and
antidepressant drugs.
Mr. Guo Wei has been legal representative and chairman of SC since 2008.
SC is known to have approx. 750 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 Changde. Our
checks reveal that SC owns the total premise about 70,000 square meters.
http://www.dtpharm.com/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: DT@dtpharm.com
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2005-04 |
Registered capital |
CNY 39,346,900 |
CNY 44,063,900 |
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2006-03 |
Legal representative |
Xiang Wenlin |
Zou Zhenrong |
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2006-11 |
Registered capital |
CNY 44,063,900 |
CNY 44,063,918 |
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2008-04 |
Legal representative |
Zou Zhenrong |
Present one |
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Registration No. |
4300001000145 |
Present one |
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2012-12 |
Registered capital |
CNY 44,063,918 |
Present amount |
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Unspecified |
Shareholders & shareholdings |
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. 77.777% Changde Zhongda State-owned Assets Management Co., Ltd. (literal
translation) 21.623% Labor Union Committee of SC 0.60% |
Present ones |
Tax Registration Certificate No.: 430702183804369
Organization Code: 183804369
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount
(CNY’0000) % of shareholdings
Jiangsu Tohope Pharmaceutical Co., Ltd. 6,817.4664 61.94
Changde Zhongda State-owned Assets Management Co., Ltd.
(literal translation) 2,379.942 21.62
Huaian Tianyuan Investment Centre (General Partner) 1,742.9566 15.84
Labor Union Committee of SC 66.0268 0.60
Jiangsu Tohope Pharmaceutical Co., Ltd.
==============================
Registration No.: 320581400007806
Legal representative: Zou Zhenrong
Web: http://www.tohopepharma.com/
E-mail: info@tohopepharma.com
Tel.: 0086-512-52300501
Fax: 0086-512-52300500
Legal Representative and Chairman:
Mr. Guo Wei, born in 1962, with university education. He is currently
responsible for the overall management of SC.
Working Experience(s):
From 2008 to present Working
in SC as chairman and legal representative.
General Manager and Director:
Tang Huanyu is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC
as general manager and director.
Supervisors:
Li Shihua
Chen Yuqing
Directors:
Wang Cheng
Shao Ying
Ms. Yan Huixia
Li Xianlin
Wang Kexin
SC is mainly engaged in manufacturing and selling haemostatic and
antidepressant drugs.
SC’s products mainly include 4-Aminomethylbenzoic Acid, Tranexamic Acid,
Quetiapine Fumarate, Clomipramine Hydrochloride, Lorazepam.
SC sources its materials 100% from domestic market. SC sells 70% of its products
in domestic market, and 30% to overseas market, mainly Southeast Asian 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 declined to release its major clients and suppliers.
Trademark &
Patents
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Registration No. |
10088304 |
13181374 |
13181410 |
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Registration Date |
2012-12-14 |
2015-1-21 |
2015-1-21 |
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Trademark Design |
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Shanghai Fosun Pharmaceutical Development Ltd.
=====================================
Registration No.: 310225000247780
Incorporation Date: 2001-11-27
Legal representative: Wang Cheng
Registered Capital: CNY 2,253,308,000
Shanghai Fosun Pharmaceutical (Group) Co.,
Ltd.
====================================
Registration No.: 310000000036602
Incorporation Date: 1995-5-31
Legal representative: Chen Qiyu
Web: http://www.fosunpharma.com/
Email: int@fosunpharma.com
Tel: 021-33987870
Fax: 021-33987871
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.
Industrial & Commercial Bank of China Changde Deshan Sub-branch
AC#：432401611216501
Relationship: Normal.
Financial
Summary
Unit: CNY’000
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As of Dec. 31, 2013 |
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Total liabilities |
84,270 |
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Equity |
265,800 |
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Total assets |
350,070 |
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========= |
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Turnover |
403,500 |
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Profits |
72,130 |
Note: We did not
find SC’s detailed financial reports for Yr2013.
Important
Ratios
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As of Dec. 31,
2013 |
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*Liabilities to assets |
0.24 |
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*Net profit margin (%) |
17.88 |
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*Return on total assets (%) |
20.60 |
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*Turnover/Total assets |
1.15 |
PROFITABILITY:
FAIRLY GOOD
The turnover of SC appears fairly good.
SC’s net profit margin appears fairly good.
SC’s return on total assets appears good.
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIRLY GOOD
The debt ratio of SC is low.
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly good
SC is considered medium-sized in its line with fairly good 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.64.01 |
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1 |
Rs.99.84 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
SDA |
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.