MIRA INFORM REPORT
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Report No. : |
338576 |
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Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
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Name : |
JIANGXI FUSHINE PHARMACEUTICAL CO., LTD. |
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Formerly Known as : |
Jingdezhen Fuxiang Pharmaceutical Co., Ltd. |
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Registered Office : |
No. 2 Yuli Industrial Zone, Changjiang District,
Jingdezhen City, Jiangxi Province, 333000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
20.03.2002 |
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Com. Reg. No.: |
360200210008121 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
·
Engaged in manufacturing
and selling APIs and pharmaceutical intermediates. ·
Engaged in manufacturing
and Selling Chemical Materials (excluding Hazardous Chemicals) as well as
import and export business. · Engaged in manufacturing β-Lactamase Inhibitors. Subject
product lines are as follows : APIs:
Tazobactam, Tazobactam Sodium,
Sultamicillin Tosilate, Sultamicillin Base, Sulbactam pivoxil & Sulbactam
Sodium Pharmaceutical
Intermediates: Sulbactam Acid, Iodomethyl Sulbactam,
Tazobactam Benzhydryl, Diphenyl Methyl Ester, Piperacillin Acid,
5-Mercapto-1-Methyltetrazole, 4-Ethyl-2, 3-Dioxo-1-Piperazinecarbonylchloride,
L-2-Aminobutanamide Hydrochloride & HO-EPCP |
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No of Employees : |
825 (Approximately) |
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 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
JIANGXI FUSHINE PHARMACEUTICAL co., ltd.
NO. 2 YULI
INDUSTRIAL ZONE, CHANGJIANG DISTRICT, JINGDEZHEN CITY, JIANGXI PROVINCE, 333000
PR CHINA
TEL: 86 (0) 798-2193328/2193310 FAX: 86 (0) 798-2193330/2193307
EXECUTIVE
SUMMARY
INCORPORATION DATE : Mar. 20, 2002
REGISTRATION NO. : 360200210008121
REGISTERED LEGAL FORM : shares limited co.
CHIEF EXECUTIVE : Mr. bao jianhua (CHAIRMAN)
STAFF STRENGTH :
825 (Approximately)
REGISTERED CAPITAL : CNY 54,000,000
BUSINESS LINE :
manufacturing and trading
TURNOVER : cny 442,842,000 (consolidated, AS OF DEC. 31, 2013)
EQUITIES : cny 229,760,000 (consolidated, AS OF DEC. 31, 2013)
PAYMENT : No Complaints
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.2413= USD 1
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
company at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license) on Mar. 20, 2002 and has been
under present legal form since 2012.
Company Status: Shares limited co. 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 China.. Natural person are allowed to
serve as promoters. 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 and selling APIs; manufacturing and
selling chemical
materials
(excluding hazardous chemicals); import and export business.
SC is mainly
engaged in manufacturing and selling APIs and pharmaceutical intermediates.
Engaged in manufacturing β-Lactamase Inhibitors.
Mr. Bao Jianhua is
the legal representative, chairman and general manager of SC at present.
SC is known to
have approx. 825 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 Jingdezhen. SC’s management declined to release detailed information of
the premise.
http://www.fuxiangpharm.com/ The design is professional and the content is
well organized. At present the web site is in Chinese and English versions.
E-mail: infor@fuxiangpharm.com
Changes of its registered
information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2012 |
Registered capital |
CNY 16,000,000 |
CNY 51,000,000 |
|
Company name |
Jingdezhen
Fuxiang Pharmaceutical Co., Ltd. |
Present one |
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|
Registered legal form |
Limited
liabilities company |
Present one |
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|
Unknown |
Registered capital |
CNY 51,000,000 |
Present amount |
|
Shareholdings |
Bao Jianhua 49.6%; Zhejiang Yongtai Technology Co., Ltd. 26%; Yu
Wenjun 10%; Jingdezhen Fushine Investment Co., Ltd. 7%; Chen Bin 4%; Bao Danhong
1.5%; Ke Xili 0.5%; Niu
Yunbo 0.3%; Feng Shenrong 0.5%; Jin Jizhong 0.3%; Wei
Yongchao 0.3% |
Present ones |
Organization code: 736360578
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Bao
Jianhua 46.84
Zhejiang Yongtai Technology Co.,
Ltd. 24.56
Yu Wenjun 9.45
Jingdezhen Fushine Investment Co., Ltd.
6.61
Chen Bin 3.78
Bao Danhong 1.42
Ke Xili 0.47
Niu Yunbo 0.28
Feng Shenrong 0.47
Jin Jizhong 0.28
Wei Yongchao 0.28
Other shareholder
5.56
Zhejiang Yongtai Technology Co.,
Ltd.
…………………………………………
It is listed in Shenzhen Stock Exchange with
the stock code 002326.
Legal representative: Wang Yingmei
Registration No.: 331000000000876
Incorporation date: Oct. 11, 1999
Add: Linhai Park, Chemical &
Pharmaceutical Base, Linhai, Zhejiang Province
Tel: 0576-85588006, 0576-85588960
Fax: 0086-576-85588006
Website: http://www.yongtaitech.com/
Email: sales@yongtaitech.com
Legal
representative, Chairman and General manager:
Mr. Bao Jianhua, ID# 33260319770405****, born in 1977, he is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as legal representative, chairman and general manager
Also working in Jingdezhen Fushine
Investment Co., Ltd., Jiangxi Xiangtai Pharmaceutical Co., Ltd., Jiangxi Ruyi
Technology Development Co., Ltd., etc. as legal representative
Vice chairman:
Mr. Guan Hui is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working in SC as vice chairman
Directors:
………….
Liu Hong
Yu Wenjun
Li Yan
Etc.
Supervisors:
…………….
Yang Haibin
Chen Lijie
Dong Wei
SC is mainly
engaged in manufacturing and selling APIs and pharmaceutical intermediates.
Engaged in manufacturing β-Lactamase Inhibitors.
SC’s products
mainly include:
APIs: Tazobactam, Tazobactam Sodium,
Sultamicillin Tosilate, Sultamicillin Base, Sulbactam pivoxil & Sulbactam
Sodium
Pharmaceutical Intermediates: Sulbactam
Acid, Iodomethyl Sulbactam, Tazobactam Benzhydryl, Diphenyl Methyl Ester,
Piperacillin Acid, 5-Mercapto-1-Methyltetrazole, 4-Ethyl-2,
3-Dioxo-1-Piperazinecarbonylchloride, L-2-Aminobutanamide Hydrochloride &
HO-EPCP
SC sources its materials 20% from the overseas market and
80% from domestic market. SC sells 50% of its products in domestic market and
50% to overseas market.
Trademarks
& Patents
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Registration No. |
7150140 |
9240745 |
9552186 |
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Registration Date |
2010-8-14 |
2012-5-17 |
2012-6-28 |
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Trademark Design |
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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.
Major
clients
==========
Zhuhai United Laboratories Co., Ltd.
Zhuhai United Laboratories Co., Ltd.
Zhongshan Branch
Wuxi Jinlijie International Trading Co.,
Ltd.
Major
suppliers
============
Zhuhai United Laboratories Co., Ltd.
United Laboratories (Inner Mongolia) Co.,
Ltd.
Harbin Pharmaceutical Group Co., Ltd. General Pharm. Factory
Yinchuan Yongshuo Chemical Co., Ltd. (literal
translation)
Subsidiaries
Jiangxi Xiangtai Pharmaceutical Co., Ltd. (literal translation)
=============================
Reg. No.: 360200110004182
Legal representative: Bao Jianhua
Incorporation date: 2010-11-8
Jiangxi Ruyi Technology Development Co., Ltd.
====================================
Reg. No.: 360923210000842
Legal representative: Bao Jianhua
Incorporation date: 2006-11-23
Etc.
Overall payment appraisal:
( ) Excellent (
) Good (X) No Complaints (
) 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’s suppliers
refused to make any comment.
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.
SC declined to
release its bank details.
Consolidated
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2013 |
as
of Dec. 31, 2012 |
|
64,933 |
65,586 |
|
|
Trading financial assets |
13 |
0 |
|
Note receivable |
6,068 |
17,543 |
|
Inventory |
80,824 |
61,791 |
|
Accounts receivable |
82,537 |
76,571 |
|
Advances to suppliers |
3,440 |
3,122 |
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Other receivables |
7,552 |
3,939 |
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Other current assets |
0 |
0 |
|
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------------------ |
------------------ |
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Current assets |
245,367 |
228,552 |
|
Long-term
investment |
9,960 |
9,960 |
|
Fixed assets net
value |
179,220 |
129,643 |
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Project under
construction |
36,420 |
35,786 |
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Project
materials |
3,491 |
1,500 |
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Intangible
assets |
63,270 |
64,620 |
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Goodwill |
1,147 |
1,147 |
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Long-term
deferred expenses |
622 |
185 |
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Deferred assets |
1,173 |
1,097 |
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------------------ |
------------------ |
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Total assets |
540,670 |
472,490 |
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============= |
============= |
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Short loans |
86,090 |
104,740 |
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Note payable |
52,423 |
59,763 |
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Accounts payable |
65,516 |
67,059 |
|
Advances from
clients |
906 |
883 |
|
Accrued payroll |
8,242 |
8,132 |
|
Taxes payable |
3,896 |
-1,743 |
|
Interest payable |
250 |
202 |
|
Other payable |
1,654 |
2,309 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
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Current
liabilities |
218,977 |
241,345 |
|
Long term
liabilities |
91,933 |
46,541 |
|
|
------------------ |
------------------ |
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Total
liabilities |
310,910 |
287,886 |
|
Equities |
229,760 |
184,604 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
540,670 |
472,490 |
|
|
============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
|
as
of Dec. 31, 2013 |
as
of Dec. 31, 2012 |
|
Turnover |
442,842 |
360,321 |
|
Cost of goods
sold |
328,057 |
267,297 |
|
Taxes
and additional of main operation |
1,435 |
910 |
|
Sales expense |
12,209 |
9,921 |
|
Management expense |
42,724 |
32,702 |
|
Finance expense |
11,593 |
7,762 |
|
Assets impairment loss |
244 |
1,617 |
|
Investment
income |
890 |
784 |
|
Gains on the
changes in the fair value |
13 |
4 |
|
Non-operation
income |
6,477 |
6,702 |
|
Non-operation expense |
1,035 |
859 |
|
Profit before
tax |
52,925 |
46,743 |
|
Less: profit tax |
7,853 |
6,664 |
|
Profits |
45,072 |
40,079 |
Important Ratios
=============
|
|
as
of Dec. 31, 2013 |
as
of Dec. 31, 2012 |
|
*Current ratio |
1.12 |
0.95 |
|
*Quick ratio |
0.75 |
0.69 |
|
*Liabilities
to assets |
0.58 |
0.61 |
|
*Net profit
margin (%) |
10.18 |
11.12 |
|
*Return on
total assets (%) |
8.34 |
8.48 |
|
*Inventory
/Turnover ×365 |
67 days |
63 days |
|
*Accounts
receivable/Turnover ×365 |
68 days |
78 days |
|
*Turnover/Total
assets |
0.82 |
0.76 |
|
* Cost of
goods sold/Turnover |
0.74 |
0.74 |
PROFITABILITY:
FAIRLY GOOD
l
The turnover of SC appears fairly good in its line
in both years.
l
SC’s net profit margin is good in both years.
l
SC’s return on total assets is fairly good in both
years.
l SC’s cost of goods
sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a fair
level in 2012 and normal in 2013.
l
SC’s quick ratio is maintained in a fair level in
both years.
l
SC’s inventory is average in both years.
l
SC’s accounts receivable is average in both years.
l
SC’s short-term loan is average in 2013.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly Stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.51 |
|
UK Pound |
1 |
Rs.104.00 |
|
Euro |
1 |
Rs.76.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.