MIRA INFORM REPORT
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Report No. : |
352510 |
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Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI HAOYUAN CHEMEXPRESS CO., LTD. |
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Registered Office : |
5/F&6/F, Building 2, No. 720 Cailun Road, Zhangjiang High-Tech Park, Pudong New District, Shanghai, 201203 Pr |
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Country : |
China |
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Date of Incorporation : |
30.09.2006 |
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Com. Reg. No.: |
310226000760284 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject includes technology development, technology consulting, technology
services, technology transfer in the field of chemical science and
technology; wholesaling chemical raw materials and products (except hazardous
chemicals, controlled chemicals, civil explosives, and precursor chemicals);
import and export of goods and technology |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 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 also 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
SHANGHAI HAOYUAN
CHEMEXPRESS CO., LTD.
5/F&6/F, BUILDING 2, NO. 720 CAILUN
ROAD, ZHANGJIANG HIGH-TECH PARK, PUDONG NEW DISTRICT, SHANGHAI, 201203 PR CHINA
TEL: 86 (0)
21-58998985 FAX: 86 (0) 21-58955996
EXECUTIVE
SUMMARY
INCORPORATION DATE :
SEP. 30, 2006
REGISTRATION NO. : 310226000760284
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 70
REGISTERED CAPITAL : CNY 20,000,000
BUSINESS LINE :
R&D, TRADE
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3991= 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 Ren Min Bi
SC was registered as a limited liabilities
company at local Administration for Industry & Commerce (AIC - The official
body of issuing and renewing business license).
Company Status: Limited liabilities co. This form of business in PR China
is defined as a legal person. No more than fifty shareholders contribute
its registered capital jointly. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to extent
of its total assets. The characteristics of this form of co. are as
follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co
SC’s registered business scope includes technology development,
technology consulting, technology services, technology transfer in the field of
chemical science and technology; wholesaling chemical raw materials and
products (except hazardous chemicals, controlled chemicals, civil explosives,
and precursor chemicals); import and export of goods and technology (with
permit if needed).
SC is mainly
engaged in customized chemical synthesis, R&D and trading of pharmaceutical
intermediates and new drugs.
Mr. Zheng Baofu is
the legal representative, chairman and general manager of SC at present.
SC is known
to have approx. 70 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. Detailed premise is
unavailable at present.
http://www.chemexpress.com.cn/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: apisales@chemexpress.com.cn
Changes of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2014-11-17 |
Shareholders |
Lu Xinyu 15% Xue Jijun 13% Shi Jieqing
40% Gao Qiang 16% Zheng Baofu 16% |
Shanghai Anxu Pharmaceutical Technology Co., Ltd.上100% |
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Legal form |
Limited liabilities co. |
One-person limited liability company |
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Legal representative |
Zheng Baofu |
Li Shuoliang |
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2014-12-18 |
Shareholders |
Shanghai Anxu Pharmaceutical Technology Co., Ltd. 100% |
Shanghai Anxu Pharmaceutical Technology Co., Ltd. 65%; Shanghai Genuine High Technology Service
Industry Venture Capital Center (Limited Partnership) (literal
translation)17.50%; Shanghai Jingjia Chuangye Jieli Venture
Capital Center (Limited Partnership) 17.50% |
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Legal form |
One-person limited liability company |
Limited liabilities co. |
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Legal representative |
Li Shuoliang |
Zheng Baofu |
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Registered capital |
CNY 1,500,000 |
CNY 2,307,692 |
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2015-7-20 |
Shareholders |
Shanghai Anxu Pharmaceutical Technology Co., Ltd. 65%;
Shanghai Genuine High Technology Service Industry Venture Capital Center
(Limited Partnership) (literal translation)17.50%; Shanghai Jingjia Chuangye Jieli Venture
Capital Center (Limited Partnership)17.50% |
Present ones |
|
2015-9-14 |
Registered capital |
CNY 2,307,692 |
Present amount |
Organization Code: 794467963
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Shanghai Anxu
Information Technology Co., Ltd. (literal translation) 68
Shanghai Genuine High Technology Service
Industry 15
Venture Capital Center (Limited
Partnership) (literal translation)
Shanghai Jingjia
Chuangye Jieli Venture Capital Center (Limited Partnership) 15
Yang Shixian 1
Yu Daoqian 1
Shanghai
Anxu Information Technology Co., Ltd. (literal translation)
Credibility Code: 91310115310599688K
Incorporation date:
Legal representative: Zheng Baofu
Its name was changed from Shanghai Anxu
Pharmaceutical Technology Co., Ltd. to present one on
Oct. 29, 2015.
Shanghai Genuine
High Technology Service Industry Venture Capital Center (Limited Partnership) (literal translation)
Credibility Code: 91310000057600170X
Incorporation date:
Shanghai
Jingjia Chuangye Jieli Venture Capital Center (Limited Partnership)
Credibility Code: 913101105868367791
Incorporation date:
l Legal
Representative, Chairman and General manager:
Mr. Zheng Baofu, graduated from Department
of Chemistry, the University of Hong Kong, major in organic synthesis, he is
currently responsible for the overall management of SC.
Working Experience(s):
At present Works in SC as legal
representative, chairman and general manager.
Also works in Shanghai Haoyuan
Medchemexpress Co., Ltd., Shanghai Haohong Pharmaceutical Research Co., Ltd.,
Shanghai Anxu Information Technology Co., Ltd. (literal translation) as legal
representative.
l Directors:
Yang Shixian
Li Shuoliang
Chen Yun
Gao Qiang
l Supervisor:
Yu Daoqian
SC is mainly
engaged in customized chemical synthesis, R&D and trading of pharmaceutical intermediates and new drugs.
SC’s products
mainly include API R&D Compounds, API intermediates, Vitamin D series compounds,
Reagent, etc.
SC sources its
materials 100% from domestic market. SC sells its products in domestic market
and overseas market.
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.
Note:
SC’s management declined to release its major clients and suppliers.
Trademark &
Patents
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Registration No. |
10007700 |
10007822 |
14411415 |
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Registration Date |
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Trademark Design |
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Etc.
SC is known to invest in the following companies:
Shanghai Haoyuan Medchemexpress Co., Ltd.
Credibility Code: 9131000068553264X2
Incorporation date:
Legal
representative: Zheng Baofu
Shanghai
Haohong Pharmaceutical Research Co., LTD.
Registered
No.: 310115001808156
Incorporation date:
Legal
representative: Zheng Baofu
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 refused to
release any information of its suppliers and the trade reference was not
available.
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’s management
declined to release its bank details.
SC’s management refused to release the financial information.
SC is considered medium-sized in its line with the developing history of
9 years. Due to lack of the financial statements, we are unable to determine
the maximum credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.84 |
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1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
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CNY |
1 |
Rs.10.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIT |
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.