MIRA INFORM REPORT
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Report No. : |
356757 |
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Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI DESANO
Co., Ltd. |
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Registered Office : |
No. 1479, Zhangheng Road, Zhangjiang High-Tech Park, Shanghai, 201203
Pr |
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Country : |
China |
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Date of Incorporation : |
28.12.2005 |
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Com. Reg. No.: |
310115000930770 |
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Legal Form : |
Chinese-Foreign Equity Joint Venture Enterprise |
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Line of Business : |
Researching & developing of pharmaceutical products, and technical
consultation/service, transfer of research results; investment consulting; wholesale,
commission agency (excluding auction) and import and export of chemical
products and chemicals (except dangerous goods), mechanical equipment,
electronic equipment, packaging materials (not involve the state-run goods,
goods involving quota and license administration, shall be dealt with in
accordance with relevant regulations). (with permits if needed). |
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No. of Employees : |
Not Available |
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 & address
SHANGHAI DESANO Co., Ltd.
NO. 1479, ZHANGHENG ROAD, ZHANGJIANG HIGH-TECH
PARK,
SHANGHAI, 201203 PR CHINA
TEL: 86 (0) 21-51323300 FAX: 86 (0) 21-51323311
EXECUTIVE
SUMMARY
INCORPORATION DATE :
DEC. 28, 2005
REGISTRATION NO. :
310115000930770
REGISTERED LEGAL FORM : CHINESE-FOREIGN EQUITY JOINT VENTURE ENTERPRISE
CHIEF EXECUTIVE :
LI JINGPENG (CHAIRMAN)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 578,837,404
BUSINESS LINE :
trade, INVESTMENT & MANAGEMENT
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4883 = 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
Note: SC’s complete name should be the heading one, instead of the given
“Desano Limited”.
SC was registered as a Chinese-foreign equity joint venture enterprise
at local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license).
Company Status: Chinese-foreign equity joint venture
enterprise (中外合资企业) This form of business in PR
China is defined as a legal person. It is a limited co. jointly invested by
one or more foreign companies and one or more PR China controlled companies
within the territories of PR China according to a certain proportion of
capital investment. The investing parties exercise business management,
share profits and bear all risks and liabilities of the co. together. The
equity joint venture law requires that foreign party contribute not less
than 25% of the registered capital, with no maximum. The investing parties
are free to agree on method of profit distribution and liabilities bearing
according to the proportion of capital investment. Each investing parties
contributes funds, tangible assets, technology & etc. The board of
directors excises the high authority. The joint venture usually has a
limited duration of 10 to 50 years. Enterprise with large investment, long
construction periods, low investment returns, introducing of advanced
technology & advanced technology products that have good competition
position in international market may extend beyond the 50 years limit.
SC’s registered business scope includes researching & developing of
pharmaceutical products, and technical consultation/service, transfer of
research results; investment consulting; wholesale, commission agency
(excluding auction) and import and export of chemical products and chemicals
(except dangerous goods), mechanical equipment, electronic equipment, packaging
materials (not involve the state-run goods, goods involving quota and license
administration, shall be dealt with in accordance with relevant regulations). (with permits if needed).
SC is mainly engaged in trading of pharmaceutical
products and investing & managing of its subsidiaries.
Li Jingpeng is legal representative and chairman of SC at present.
The amount of employees is unavailable at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the high-tech park of Shanghai. Our checks
reveal that SC owns the total premise, but SC’s accountant refused to release
the gross area of the premise.
http://www.desano.com/
It is the website of Desano. The design is professional and the content is well
organized. At present it is in both Chinese and English versions.
E-mail: info@desano.com
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2008 |
Registered no. |
3101152025156 |
Present one |
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Legal representative |
Xu Shengping |
Li Jinliang |
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2009 |
Registered capital |
CNY 237,600,000 |
CNY 438,837,404 |
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Unknown |
Registered capital |
CNY 438,837,404 |
Present amount |
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Company’s name |
Shanghai Desano Pharmaceuticals Investment Co., Ltd. |
Present one |
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Legal representative |
Li Jinliang |
Present one |
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Legal form |
limited liabilities company |
Present one |
Organization Code: 784272484
MAIN SHAREHOLDERS:
Name
Shanghai Desano Industrial Development Co., Ltd.
Shanghai Jinglin Jingqi Investment Center (Limited
Partnership) (in Chinese Pinyin)
Shanghai Shenghan Investment Co., Ltd. (in Chinese
Pinyin)
Shanghai Nuoxin Investment Management Development
Center (Limited Partnership) (in Chinese Pinyin)
Shanghai Kunpeng Investment Development Co., Ltd.
Meditab Holdings Limited
Other 5 Shareholders
Note:
The detailed shareholdings are unavailable at present.
Shanghai Desano Industrial Development Co., Ltd.
=====================================
Credibility Code: 91310000739771401J
Registered Capital: CNY 100,000,000
Legal Representative: Xu Shengping
Legal Representative and Chairman:
Li Jingpeng is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal representative and
chairman.
Also working in Jiangsu Puxin Pharmaceutical Co., Ltd. as legal
representative.
Directors:
Huang Xiaoli
Guo Tun
Kan Ying
Li Jinliang
Jin Jie
Sanjay Surendra Bhanushali
Supervisors:
Xiong Anfu
Gao Fei
Xiong Yuyou
SC is mainly engaged in trading of pharmaceutical
products and investing & managing of its subsidiaries.
SC’s products mainly include: Stavudine,
Nevirapine, Zidovudine, Efavirenz and other pharmaceutical products.
SC sources its materials from domestic market and overseas market. SC
sells its products in domestic market and 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 Suppliers:
============
Shanghai Desano Chemical Pharmaceutical Co., Ltd.
Shanghai Desano Biopharmaceutical Co., Ltd
Trademark &
Patents
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Registration No. |
7597252 |
7597258 |
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Registration Date |
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Trademark Design |
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Shanghai Desano Chemical Pharmaceutical Co., Ltd.
Shanghai Desano Biopharmaceutical Co., Ltd
Jiangsu Puxin Pharmaceutical Co., Ltd.
Yancheng Desano Pharmaceutical Co., Ltd.
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’s suppliers declined to make any
comments.
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.
China Construction Bank Shanghai Zhangjiang Sub-branch
AC#: 31001523211050005172
Relationship: Normal.
SC’s management declined to release the financial information.
SC is a company with the developing history of 10 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.66.37 |
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|
1 |
Rs.98.91 |
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Euro |
1 |
Rs.72.85 |
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CNY |
1 |
Rs.10.23 |
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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HEE |
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Report Prepared
by : |
TPT |
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.