MIRA INFORM REPORT
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Report No. : |
337825 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
Qilu Antibiotics
(Linyi) Pharmaceutical Co., Ltd. |
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Registered Office : |
North of Huayuan (West) Road, Economic
Development Zone Linyi County, Shandong Province 251500 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.06.2009 |
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Com. Reg. No.: |
371424200001217 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Researching,
Developing, Manufacturing and Selling of Cefazolin Sodium. |
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No of Employees : |
300 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
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 & ADDRESS
Qilu Antibiotics (Linyi) Pharmaceutical Co.,
Ltd.
north of huayuan
(west) road, economic development zone
linyi county,
shandong PROVINCE 251500 PR CHINA
TEL: 86 (0)
534-5059009
FAX: 86 (0)
534-5059008
EXECUTIVE
SUMMARY
Date of Registration : June 1, 2009
REGISTRATION NO. : 371424200001217
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 30,000,000
staff :
300
BUSINESS CATEGORY : r & d & MANUFACTURING & trading
Revenue :
CNY 379,234,000 (AS OF DEC. 31,
2013)
EQUITIES :
CNY -7,835,000 (AS OF DEC. 31, 2013)
WEBSITE : www.qilulinyi-antibiotics.com
E-MAIL :
n/a
PAYMENT :
AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : POOR
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.21 = 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.: 371424200001217
on June 1, 2009.
SC’s Organization Code Certificate No.:
68949063-5
%20PHARMACEUTICAL%20CO.,%20LTD.%20-%20337825%20%20(PRELIMINARY%20REPORT)%2021-Aug-2015_files/image008.jpg)
SC’s Tax No.: 371424689490635
SC’s registered capital: CNY 30,000,000
SC’s paid-in capital: CNY 30,000,000
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 |
|
Qilu Pharmaceutical Co., Ltd. |
60 |
|
Qilu Antibiotics Pharmaceutical Co., Ltd. |
40 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Hou Chuanshan |
|
General Manager |
Zhao Weiliang |
|
Supervisor |
Li Peng |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Qilu Pharmaceutical Co., Ltd. 60
Qilu Antibiotics Pharmaceutical Co., Ltd. 40
%20PHARMACEUTICAL%20CO.,%20LTD.%20-%20337825%20%20(PRELIMINARY%20REPORT)%2021-Aug-2015_files/image007.gif){kind=small}
Qilu
Pharmaceutical Co., Ltd.
=========================
Date of Registration: August 21, 1992
Registration No.: 370000228034515
Registered Capital: CNY 600,000,000
Qilu Antibiotics
Pharmaceutical Co., Ltd.
=================================
Date of Registration: May 29, 1995
Registration No.: 370000400001223
Legal Form: Chinese-Foreign
Equity Joint Venture Enterprise
Registered Capital: USD 20,504,100
MANAGEMENT
Hou Chuanshan (侯传山), Legal Representative and Chairman
--------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 48
Ø Working experience (s):
At present, working in SC as legal
representative and chairman, also working in Qilu Antibiotics Pharmaceutical
Co., Ltd. as legal representative
Zhao Weiliang (赵卫良), General Manager
-------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manger,
also as director of Qilu Antibiotics Pharmaceutical Co., Ltd.
Supervisor
--------------
Li Peng
BUSINESS
OPERATION
SC’s registered business
scope includes manufacturing and selling drugs and Intermediates; manufacturing
and selling common pharmaceutical intermediates; international trade.
SC is mainly
engaged in researching, developing, manufacturing and selling Cefazolin Sodium.
SC’s products
mainly include: Oncology, Cerebrovascular & Cardiovascular,
Anti-infectives, Psychological and Neurological, Biopharmaceuticals,
Respiratory, Ophthalmologic, NSAIDS, and etc.
SC sources its
materials 80% from domestic market, and 20% from the overseas market, mainly
Europe. SC sells 40% of its products in domestic market, and 60% to the
overseas market, mainly Europe.
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.
Staff & Office:
--------------------------
SC is known
to have approx. 300 staff at
present.
SC owns an area as
its operating office & factory of approx. 70,000 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
The bank
information of SC is not filed in SAIC.
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
|
24,260 |
7,448 |
|
|
Notes receivable |
2,549 |
11,385 |
|
Accounts
receivable |
70,064 |
110,405 |
|
Advances to
suppliers |
16,230 |
12,848 |
|
Other receivable |
7,371 |
2,986 |
|
Inventory |
149,098 |
163,038 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current assets |
269,572 |
308,110 |
|
Fixed assets |
490,811 |
489,548 |
|
Construction in
progress |
3,028 |
1,641 |
|
Intangible
assets |
37,122 |
40,819 |
|
Long-term
investment |
0 |
0 |
|
Deferred income
tax assets |
0 |
0 |
|
Other
non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
800,533 |
840,118 |
|
|
============= |
============= |
|
Short-term loans |
620,000 |
0 |
|
Notes payable |
0 |
0 |
|
Accounts payable |
108,707 |
123,199 |
|
Payroll payable |
462 |
0 |
|
Taxes payable |
-57,907 |
-46,318 |
|
Advances from
clients |
1 |
1,498 |
|
Other payable |
164,214 |
769,574 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
835,477 |
847,953 |
|
Non-current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
835,477 |
847,953 |
|
Equities |
-34,944 |
-7,835 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
800,533 |
840,118 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
|
Revenue |
215,773 |
379,234 |
|
Cost of sales |
194,420 |
307,274 |
|
Sales expense |
657 |
929 |
|
Management expense |
46,708 |
66,275 |
|
Finance expense |
46 |
531 |
|
Non-operating
income |
313 |
2,009 |
|
Non-operating expense |
1 |
602 |
|
Profit before
tax |
-25,747 |
5,769 |
|
Less: profit tax |
0 |
0 |
|
-25,747 |
5,769 |
Important Ratios
=============
|
|
As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
|
*Current ratio |
0.32 |
0.36 |
|
*Quick ratio |
0.14 |
0.17 |
|
*Liabilities
to assets |
1.04 |
1.01 |
|
*Net profit
margin (%) |
-11.93 |
1.52 |
|
*Return on
total assets (%) |
-3.22 |
0.69 |
|
*Inventory /
Revenue ×365 |
253 days |
157 days |
|
*Accounts
receivable / Revenue ×365 |
119 days |
107 days |
|
*Revenue /
Total assets |
0.27 |
0.45 |
|
*Cost of sales
/ Revenue |
0.90 |
0.81 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC
appears fairly good in its line.
l SC’s net profit
margin is average in 2013.
l SC’s return on
total assets is average in 2013.
l
SC’s cost of sales is average, comparing with its
revenue.
LIQUIDITY: POOR
l
The current ratio of SC is maintained in a poor
level.
l
SC’s quick ratio is maintained in a poor level.
l
The inventory of SC appears large.
l
The accounts receivable of SC appears large.
l
SC has no short-term loans in 2013.
l
SC’s revenue is in a fair level, comparing with the
size of its total assets.
LEVERAGE: POOR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Poor.
CONCLUSIONS
SC is considered medium-sized in its line with poor financial
conditions. The large amount of inventory & accounts receivable may be a
threat to SC’s financial condition..
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.24 |
|
|
1 |
Rs.102.21 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.