MIRA INFORM REPORT
|
Report No. : |
336955 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUBEI BIOCAUSE HEILEN PHARMACEUTICALS CO., LTD. |
|
|
|
|
Registered Office : |
No. 132 Yangwan Road, Jingmen, Hubei Province 448000 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.12.1995 |
|
|
|
|
Com. Reg. No.: |
420800000038623 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in permit business items: manufacturing and selling
of troche, hard capsule, granules, crude drug, high -capacity injection
(valid period as of Dec. 31, 2015). General business scope: doing export
business of self-made products and technology; doing import business of
self-needed raw materials, instrument and meters, mechanical equipment, spare
parts and technology (excluding those refined and prohibited by the state),
processing with imported materials, processing with imported samples, assembling
with imported parts, and compensation trade in agreement; counter trade & transit trade. |
|
|
|
|
No. of Employees : |
500 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Company
name & address
HUBEI BIOCAUSE HEILEN
PHARMACEUTICALS CO., LTD.
NO. 132 YANGWAN ROAD, JINGMEN, HUBEI PROVINCE 448000 PR CHINA
TEL: 86 (0) 724-2211112
FAX: 86 (0) 724-2211112
EXECUTIVE
SUMMARY
DATE OF REGISTRATION :
DECEMBER 29, 1995
REGISTRATION NO. :
420800000038623
LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
CHENG ZHIGANG (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 180,000,000
STAFF :
500
BUSINESS CATEGORY :
MANUFACTURING & TRADING
REVENUE :
CNY 294,744,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 178,074,000 (AS OF DEC. 31, 2014)
WEBSITE :
N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
RECOMMENDED CREDIT LIMIT :
UP TO USD 200,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIR
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.40 = 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 one-person limited liabilities company of PRC with
State Administration of Industry & Commerce (SAIC) under registration No.:
420800000038623.
SC’s Organization Code Certificate No.: 61540642-9
SC’s registered capital: CNY 180,000,000
SC’s paid-in capital: CNY 180,000,000
Registration Change Record:-
|
Date |
Change of
Contents |
Before the
change |
After the change |
|
2006-06-23 |
Registered Capital |
USD 21,560,000 |
CNY 180,000,000 |
|
Legal Form |
Chinese-Foreign Equity Joint Venture Enterprise |
Limited Liabilities Company |
|
|
Shareholder (s) (% of Shareholding) |
Hubei Zhongtian Group Corp. 44.99% Singapore Golden Lion Biotechnology Co., Ltd. 55.01% |
Hubei Biocause Pharmaceutical Co., Ltd. 75% Jingmen Industry Investment Co., Ltd. 25% |
|
|
2006-9-29 |
Shareholder (s) (% of Shareholding) |
Hubei Biocause Pharmaceutical Co., Ltd. 75% Jingmen Industry Investment Co., Ltd. 25% |
Hubei Biocause Pharmaceutical Co., Ltd. 98% Hubei Beck Chemical Industry Co., Ltd.2% |
|
2009-02-23 |
Registration No. |
4208002130270 |
420800000038623 |
|
-- |
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
|
Shareholder (s) (% of Shareholding) |
Hubei Biocause Pharmaceutical Co., Ltd. 98% Hubei Beck Chemical Industry Co., Ltd. 2% |
Hubei Biocause Pharmaceutical Co., Ltd. 100% |
|
|
2014-8-12 |
Legal Representative |
Xiao Yunhua |
Cheng Zhigang |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Hubei Biocause Pharmaceutical Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Cheng Zhigang |
|
Supervisor |
He Renming |
|
Zhu Weihua |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Hubei Biocause Pharmaceutical Co., Ltd. 100
=====================
Date of Registration: November 18, 1993
Registration No.: 420000000018048
Legal Form: Shares Limited Company
Chief Executive: Liu Yiqian
Registered Capital: CNY 1,353,590,000
Web: www.biocause.com
MANAGEMENT
Cheng Zhigang, Legal Representative and Chairman
-------------------------------------------------------------------------------
Gender: M
Age: 41
Qualification: University
Working experience (s):
From 2014 to present, working in SC as legal representative and chairman
Supervisor
--------------
He Renming
Zhu Weihua
BUSINESS OPERATION
SC’s registered business scope includes permit business items:
manufacturing and selling of troche, hard capsule, granules, crude drug, high
-capacity injection (valid period as of Dec. 31, 2015). General business scope:
doing export business of self-made products and technology; doing import
business of self-needed raw materials, instrument and meters, mechanical
equipment, spare parts and technology (excluding those refined and prohibited
by the state), processing with imported materials, processing with imported
samples, assembling with imported parts, and compensation trade in agreement; counter trade & transit trade.
SC is mainly engaged in manufacturing and selling APIs.
SC’s products mainly include: Ibuprofen Lysine, S-Ibuprofen
(Dexibuprofen), Torasemide and Fludarabine phosphate, etc.
SC sources its materials 80% from domestic market and 20% from overseas market. SC sells 20% of its products in domestic market, and 80% to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major Customers*
----------------------
Closter Pharma S .A S
Grimann Sa De C.V.
Indufar S.A.
Staff & Office:
--------------------------
SC is known to have approx. 500 staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
Hubei Beck Diosgenin Co., Ltd.
Hubei Beck Gelai Pharmaceuticals 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
The bank information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
|
Total assets |
412,107 |
367,797 |
377,438 |
389,746 |
|
|
------------- |
------------- |
------------- |
------------- |
|
Total liabilities |
204,611 |
161,582 |
189,236 |
211,672 |
|
Equities |
207,496 |
206,215 |
188,202 |
178,074 |
|
|
------------- |
------------- |
------------- |
------------- |
|
Revenue |
281,609 |
309,183 |
349,887 |
294,744 |
|
Profits |
-25,136 |
-2,300 |
-18,615 |
-10,444 |
Important Ratios
=============
|
|
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
|
*Liabilities to assets |
0.50 |
0.44 |
0.50 |
0.54 |
|
*Net profit margin (%) |
-8.93 |
-0.74 |
-5.32 |
-3.54 |
|
*Return on total assets (%) |
-6.10 |
-0.63 |
-4.93 |
-2.68 |
|
*Revenue/Total assets |
0.68 |
0.84 |
0.93 |
0.76 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
The revenue of SC appears fairly good in its line.
SC’s net profit margin is fair.
SC’s return on total assets is fair.
LIQUIDITY: FAIR
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fair.
CONCLUSIONS
SC is considered medium-sized in its line with fair financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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.