MIRA
INFORM REPORT
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Report No. : |
335703 |
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Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG NEW TIME PHARMACEUTICAL CO., LTD |
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Registered Office : |
No. 1 North Outer Ring Road, Feixian County Shandong Province 273400 PR |
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Country : |
China |
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Date of Incorporation : |
30.03.2001 |
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Com. Reg. No.: |
371300400000357 |
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Legal Form : |
Chinese foreign equity joint venture enterprise |
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Line of Business : |
Subject is engaged in manufacturing and selling pharmaceutical
products. |
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No. of Employees : |
2300 |
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 : |
Slow but correct |
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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 and Address
Shandong New Time
Pharmaceutical Co., Ltd.
No. 1 North Outer Ring Road, Feixian County
Shandong Province 273400 PR China
TEL: 86 (0) 539-5030558/5030628/5030788
FAX: 86 (0) 539-5030600
EXECUTIVE SUMMARY
Date of Registration : MARch 30, 2001
REGISTRATION NO. : 371300400000357
LEGAL FORM : CHINESE FOREIGN EQUITY JOINT VENTURE
ENTERPRISE
REGISTERED CAPITAL : CNY 189,000,000
staff : 2,300
BUSINESS CATEGORY : manufacturing & trading
REVENUE :
N/A (AS OF DEC. 31, 2014)
EQUITIES :
N/A (AS OF DEC. 31, 2014)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : SLOW BUT CORRECT
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : fairly good
EXCHANGE RATE : CNY 6.21
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 Chinese foreign equity joint venture enterprise
of PRC with State Administration of Industry & Commerce (SAIC) under registration
No.: 371300400000357 on March 30,
2001.
SC’s Organization Code Certificate
No.: 72755352-X
SC’s Tax No.: 37132572755352X
SC’s registered capital: CNY 189,000,000
SC’s paid-in capital: CNY 189,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
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Company Name |
Linyi Lunan Pharmaceutical Group Yimeng
Pharmaceutical Co., Ltd. |
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Legal Representative |
Shen Xiaoguo |
Zhao Zhiquan |
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Registered Capital |
CNY 3,200,000 |
CNY 30,000,000 |
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Company Name |
Linyi New Time Pharmaceutical Co., Ltd. |
Shandong New Time Pharmaceutical Co., Ltd. |
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CNY 63,600,000 |
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Shareholders Shareholding) |
Kunlun Properties, Inc. U.S.A. 25.00% Lunan Pharmaceutical Co., Ltd. 30.00% Long Guangxia 30.00% Yu Renchang 7.30% Beijing Tianheng Pharmaceutical Institute 3.00% Sun Xiaoliang 3.00% Wang Xueping 1.70% |
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Registered Capital |
CNY 63,600,000 |
CNY 105,000,000 |
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Shareholders |
Kunlun Properties, Inc. U.S.A. 25.00% Lunan Pharmaceutical Co., Ltd. 30.00% Long Guangxia 30.00% Yu Renchang 7.30% Beijing Tianheng Pharmaceutical Institute 3.00% Sun Xiaoliang 3.00% Wang Xueping 1.70% |
Kunlun Properties, Inc. (USA) 25.00% Lunan Pharmaceutical Group Corporation 30.00% Long Guangxia 30.00% Yu Renchang 7.30% Beijing Tianheng Pharmaceutical Institute 3.00% Sun Xiaoliang 3.00% Wang Xueping 1.70% |
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Shareholders (%of Shareholding) |
Kunlun Properties, Inc. (USA) 25.00% Lunan Pharmaceutical Group Corporation 30.00% Long Guangxia 30.00% Yu Renchang 7.30% Beijing Tianheng Pharmaceutical Institute 3.00% Sun Xiaoliang 3.00% Wang Xueping 1.70% |
Kunlun Properties, Inc. (USA) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Long Guangxia 30.00% Yu Renchang 8.25% Beijing Tianheng Pharmaceutical Institute 3.00% Wang Xueping 1.70% |
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(%of Shareholding) |
Kunlun Properties, Inc. (USA) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Long Guangxia 30.00% Yu Renchang 8.25% Beijing Tianheng Pharmaceutical Institute 3.00% Wang Xueping 1.70% |
Anderson Investment Co., Ltd. (B.V.I.) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Long Guangxia 30.00% Yu Renchang 8.25% Beijing Tianheng Pharmaceutical Institute 3.00% Wang Xueping 1.70% |
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Registered capital |
CNY 105,000,000 |
CNY 189,000,000 |
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Shareholders (%of Shareholding) |
Anderson Investment Co., Ltd. (B.V.I.) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Long Guangxia 30.00% Yu Renchang 8.25% Beijing Tianheng Pharmaceutical Institute 3.00% Wang Xueping 1.70% |
Anderson Investment Co., Ltd. (B.V.I.) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Beijing Tianheng Pharmaceutical Institute 3.00% Long Guangxia 30.00% Yu Renchang 8.28% Wang Xueping 1.67% |
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Shareholders (%of Shareholding) |
Anderson Investment Co., Ltd. (B.V.I.) 25.00% Lunan Pharmaceutical Group Corporation 32.05% Beijing Tianheng Pharmaceutical Institute 3.00% Long Guangxia 30.00% Yu Renchang 8.28% Wang Xueping 1.67% |
Anderson Investment Co., Ltd. (B.V.I.) 25.00% Lunan Pharmaceutical Group Corporation 35.00% Long Guangxia 34.80% Beijing Tianheng Pharmaceutical Institute 3.53% Wang Xueping 1.67% |
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Legal Representative |
Zhao Zhiquan |
Zhang Guimin |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Anderson Investment Co., Ltd.
(B.V.I.) |
25.00 |
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Lunan Pharmaceutical Group
Corporation |
35.00 |
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Long Guangxia |
34.80 |
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Beijing Tianheng
Pharmaceutical Institute |
3.53 |
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Wang Xueping |
1.67 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and
Chairman |
Zhang Guimin |
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General Manager and Director |
Li Guanzhong |
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Director |
Wang Buqiang |
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Zhang Lixing |
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Liu Zhong |
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Supervisor |
Liu Changcheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Anderson Investment Co., Ltd.
(B.V.I.) 25.00
Lunan Pharmaceutical Group
Corporation 35.00
Long Guangxia 34.80
Beijing Tianheng Pharmaceutical
Institute 3.53
Wang Xueping 1.67
Lunan
Pharmaceutical Group Corporation
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Date of Registration: December 14, 1995
Registration No.: 370000400002298
Registered Capital: CNY 81,705,000
Tel: 86 (0) 539-8331258
Fax: 86 (0) 539-8331269
Website: www.lunan.com.cn
E-mail: ibo@lunan.com.cn
Beijing
Tianheng Pharmaceutical Institute
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Registration No.: 110102000823740
Date of Registration: July 27, 1998
Legal Form: Collective-owned enterprise
Registered Capital: CNY 2,000,000
Chief Executive: Liu Quanzhi
MANAGEMENT
Zhang Guimin, Legal Representative and Chairman
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Ø
Gender: M
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
From 2014 to present, working in SC as legal
representative and chairman, also working in Lunan
Pharmaceutical Group Corporation as legal representative
Li Guanzhong
General Manager and Director
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Ø
Gender: M
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as deputy
general manager and director
Director
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Wang Buqiang
Zhang Lixing
Liu Zhong
Supervisor
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Liu Changcheng
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and selling:
granular formulation, tablet, injection, dry powder, hard capsule, large volume
parenteral solutions, small volume parenteral solutions,
suppository, pill, soft capsules, capsule powder inhalation, dry suspension,
inhalation, API(active pharmaceutical ingredients), sterile APIs,
bio-engineering product, spirit drug; chemical materials and chemical products
( excluding hazardous chemicals); package material ( excluding items limited by
state).
SC is mainly
engaged in manufacturing and selling pharmaceutical products.
SC’s products
mainly include: Faropenem Sodium,Ketorolac Tromethamine, 4-AA , Tamsulosin HCI,
Sevoflurane, Isoflurane, clavulanate potassium, 7-adca,Isosorbide Mononitrate,
Isosorbide Dinitrate, Milrinone, Moclobemide, Mosapride Citrate, Sotalol
Hydrochloride,Acipimox, Alfuzosin Hydrochloride, Aniracetam, Cetirizine
Hydrochloride, Chlorzoxazone, Epirubicin Hydrochloride.
SC sources its
materials 100% from domestic market. SC sells 70% of its products in domestic
market, and 30% to the overseas market, mainly India, Korea, Pakistan, Iran,
Egypt, Brazil, Spain, Syria, Turkey, and Philippines.
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 and Credit of 30-60 days.
*Major Customer:
=============
Lunan Hope Pharmaceutical Co., Ltd.
Lunan Better Pharmaceutical Co., Ltd.
Laboratorios
Pisa, S.A.
Parenteral
Drugs India Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 2,300 staff
at present.
SC owns an area as
its operating office & factory of approx. 1,182,250 sq. meters at the
heading address.
RELATED COMPANY
Related Companies,
u
Lunan Hope Pharmaceutical Co., Ltd.
---------------------------------------------------
Registration No.: 371300400000429
Date of Registration: December 16, 2003
Legal Form: Chinese-foreign equity joint venture enterprise
Registered Capital: CNY 50,000,000
Legal Representative: Zhao Zhiquan
u
Lunan Better Pharmaceutical Co., Ltd.
----------------------------------------------------
Registration
No.: 371300400000437
Date of Registration: December 16, 2003
Legal Form: Chinese-foreign equity joint venture enterprise
Registered Capital: CNY 50,000,000
Legal Representative: Zhao Zhiquan
SC is known to
have the following subsidiaries at present,
u
Lunan New Time Biotechnology Co., Ltd.
u
Chongqing Fujin Bio-Medicine Co., Ltd.
u
Lunan New Time Pharmaceutical Co., Ltd.
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:
Industrial & Commercial Bank of China Feixian Sub-branch
AC#:
1610020809022107543
FINANCIALS
SC’s financials are not filed in local SAIC,
and SC also refused to release the details.
CONCLUSIONS
SC is considered large-sized in its line with
14 years history. Taking into consideration of SC’s general performance,
reputation as well as market conditions, credit dealings with SC should be
confined into moderate amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
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UK Pound |
1 |
Rs.98.93 |
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Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TRU |
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.