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Report No. : |
356263 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG GENEBEST PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 1 Jinboshi Road, Lishan Town, Fuyang Zhejiang Province 311418 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
20.09.2000 |
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Com. Reg. No.: |
913301837245447754 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engaged in includes manufacture of
tartaric acid, food additive (tartaric acid), sodium azide, fluconazole intermediates,
praziquantel intermediates, three methyl sulfonyl iodine (excluding dangerous
and precursor chemicals). Wholesale and retail of chemicals (excluding
dangerous and precursor chemicals); import and export of goods (excluding
those prohibited by the law; if needed with permit). |
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No. of Employee : |
84 |
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 : |
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
|
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 |
ZHEJIANG GENEBEST
PHARMACEUTICAL CO., LTD.
NO. 1 JINBOSHI ROAD, LISHAN TOWN, FUYANG
ZHEJIANG PROVINCE 311418 PR CHINA
TEL: 86 (0) 571-58982532/58982509
FAX: 86 (0) 571-63532801
Date of Registration :
SEPtember 20, 2000
UNIFIED SOCIAL CREDIT CODE : 913301837245447754
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
SONG MIAOGEN (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 15,000,000
staff :
84
BUSINESS CATEGORY : MANUFACTURING & TRADING
Revenue :
CNY 32,200,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 19,330,000 (AS OF DEC. 31, 2014)
WEBSITE : www.genebest.com
E-MAIL :
sales@genebest.com
& genebest@163.com
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
fair
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.48 = USD 1
Adopted
abbreviations (as follows)
SC - Subject Company (the
company inquired by you)
N/A – Not available
CNY – China Yuan Ren Min Bi
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
SC
was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under unified social credit
code: 913301837245447754.
SC’s registered capital: CNY
15,000,000
SC’s paid-in capital: CNY 15,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2003-12-18 |
Registered Capital |
CNY 500,000 |
CNY 2,000,000 |
|
2004-5-17 |
Registered Capital |
CNY 2,000,000 |
CNY 3,000,000 |
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2004-7-14 |
Registered Capital |
CNY 3,000,000 |
CNY 4,500,000 |
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2004-9-3 |
Registered Capital |
CNY 4,500,000 |
CNY 5,500,000 |
|
2008-8-29 |
Registered Capital |
CNY 5,500,000 |
CNY 7,000,000 |
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2008-11-27 |
Registered Capital |
CNY 7,000,000 |
CNY 10,000,000 |
|
2009-3-6 |
Company Name |
Fuyang Genebest Chemicals Co., Ltd. |
Zhejiang Genebest Pharmaceutical Co., Ltd. |
|
2010-3-29 |
Registered Capital |
CNY 10,000,000 |
CNY 15,000,000 |
|
2015-11-5 |
Registration No./ Unified Social Credit Code |
330183000029664 |
913301837245447754 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Song Miaogen |
80 |
|
Wang Jinjuan |
20 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Song Miaogen |
|
Supervisor |
Zhang Jianguo |
No
recent development was found during our checks at present.
Name %
of Shareholding
Song
Miaogen 80
Wang
Jinjuan 20
Song Miaogen, Legal Representative, Chairman and General Manager
------------------------------------------------------------------------------------------------------
Gender:
M
Qualification:
University
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager
Supervisor
--------------
Zhang
Jianguo
SC’s
registered business scope includes manufacture of tartaric acid, food additive
(tartaric acid), sodium azide, fluconazole intermediates, praziquantel
intermediates, three methyl sulfonyl iodine (excluding dangerous and precursor
chemicals). Wholesale and retail of chemicals (excluding dangerous and
precursor chemicals); import and export of goods (excluding those prohibited by
the law; if needed with permit).
SC
is mainly engaged in manufacturing and sales of pharmaceutical products.
SC’s
products mainly include: tartaric acid series, APIs & intermediates and
pilot test products.
SC sources its materials 90% from domestic market, and 10% from overseas market. SC sells 90% of its products in domestic market, and 10% 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
Customer:
=============
Biotium
Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 84
staff at present.
SC
rents an area as its operating office and factory, but the detailed information
is unknown.
SC
is not known to have any subsidiary at present.
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.
The
bank information of SC is not filed in SAIC.
Balance Sheet
|
Unit: CNY’000 |
As of Dec. 31, 2014 |
|
1,400 |
|
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Notes receivable |
560 |
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Accounts receivable |
5,780 |
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Advances to suppliers |
110 |
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Other receivable |
11,140 |
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Inventory |
6,870 |
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Other current assets |
0 |
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|
------------------ |
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Current assets |
25,860 |
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Fixed assets |
16,060 |
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Construction in progress |
440 |
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Deferred income tax assets |
0 |
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Other non-current assets |
3,260 |
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------------------ |
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Total assets |
45,620 |
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============= |
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Short-term loans |
24,400 |
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Accounts payable |
1,790 |
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Wages payable |
0 |
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Taxes payable |
130 |
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Other payable |
-30 |
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Other current liabilities |
0 |
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------------------ |
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Current liabilities |
26,290 |
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Non-current liabilities |
0 |
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------------------ |
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Total liabilities |
26,290 |
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Equities |
19,330 |
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------------------ |
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Total liabilities & equities |
45,620 |
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============= |
Income Statement
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Unit: CNY’000 |
As of Dec. 31, 2014 |
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Revenue |
32,200 |
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Cost of sales |
24,880 |
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Sales expense |
1,500 |
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Management expense |
7,040 |
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Finance expense |
700 |
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Non-operating income |
560 |
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Non-operating expense |
130 |
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Profit before tax |
-1,830 |
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Less: profit tax |
80 |
|
-1,910 |
Important Ratios
=============
|
|
As of Dec. 31, 2014 |
|
*Current ratio |
0.98 |
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*Quick ratio |
0.72 |
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*Liabilities to assets |
0.58 |
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*Net profit margin (%) |
-5.93 |
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*Return on total assets (%) |
-4.19 |
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*Inventory / Revenue ×365 |
78 days |
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*Accounts receivable/ Revenue ×365 |
66 days |
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*Revenue/Total assets |
0.71 |
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*Cost of sales / Revenue |
0.77 |
PROFITABILITY: FAIR
The
revenue of SC appears average in its line.
SC’s
net profit margin is fair.
SC’s
return on total assets is fair.
SC’s
cost of sales is average, comparing with its revenue.
LIQUIDITY: FAIR
The
current ratio of SC is maintained in a fair level.
SC’s
quick ratio is maintained in a fair level.
The
inventory of SC is maintained in an average level.
The
accounts receivable of SC is maintained in an average level.
The
short-term loans of SC appear large.
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 above average.
Overall financial
condition of the SC: Fair.
SC
is considered small-sized in its line with fair financial conditions. The large
amount of short-term loans may be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
CNY |
1 |
Rs.10.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
-- |
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.