MIRA
INFORM REPORT
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Report No. : |
306813 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NCPC HEBEI HUAMIN PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 98, |
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Country : |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
28.04.2010 |
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Com. Reg. No.: |
130000000023983 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
·
Engaged in manufacturing granules preparation
(cephalosporins), injection preparation (cephalosporins), tablets preparation
(including cephalosporins), the hard capsules preparation (including
cephalosporins), sterile bulk drugs, bulk drugs; manufacturing semi-synthetic
antibiotic intermediates as well as import and export of goods and technology
(with permit if needed). engaged in manufacturing and selling preparation and
pharmaceutical raw materials. |
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No of Employees : |
1000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
NCPC HEBEI HUAMIN PHARMACEUTICAL CO., LTD.
NO. 98, HAINAN ROAD, ECONOMIC
TECHNOLOGY DEVELOPMENT ZONE
SHIJIAZHUANG, HEBEI PROVINCE
052165 PR CHINA
TEL: 86 (0) 311-88152939
FAX: 86 (0) 311-88152939
EXECUTIVE SUMMARY
Date of Registration : APRil 28, 2010
REGISTRATION NO. : 130000000023983
LEGAL FORM : One-person Limited Liability Company
CHIEF EXECUTIVE : WEI QINGJIE (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 1,080,139,000
staff : 1,000 (Approximately)
BUSINESS CATEGORY :
MANUFACTURING & trading
REVENUE :
N/A (FROM JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 997,131,000 (AS OF JUN. 30, 2014)
WEBSITE : www.ncpchm.com
E-MAIL :
huamin@ncpchm.com
PAYMENT : No Complaints
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25 = 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
LEGAL STATUS
& HISTORY
SC was
established as one person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 130000000023983 on April 28,
2010.
SC’s Organization Code Certificate No.:
55446353-3
SC’s registered capital: CNY 1,080,139,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registered Capital |
CNY 316,379,600 |
CNY 399,139,000 |
|
Registered Capital |
CNY 399,139,000 |
CNY 839,139,000 |
|
|
2014-07-30 |
Registered Capital |
CNY 839,139,000 |
CNY 1,080,139,000 |
Current Co search indicates SC’s shareholders & chief executives
are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
North China Pharmaceutical Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Wei
Qingjie |
|
Director |
Wen
Tongli |
|
Liu
Hao |
|
|
Li
Yanling |
|
|
Liu
Chunxiao |
|
|
Supervisor |
Wang
Aili |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
North China Pharmaceutical Co.,
Ltd. 100
-----------------------------
Date of Registration: December 20, 1992
Registration No.: 130000000008365
Legal Form: One-Person Limited
Liability Company
Registered Capital: CNY 1,630,804,729
Legal Representative: Wang Sheping
Address: 392 East Heping Road, Shijiazhuang,
China
Tel: +86 311 85993676/85993332
Fax: +86 311 85992448
Email: caopulei@163.com
Web: www.ncpc.com
MANAGEMENT
Wei
Qingjie, Legal
Representative, Chairman and General Manager
---------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Qualification:
University
Ø
Working
experience (s):
At present, working in SC as legal representative,
chairman and general manager
Director
------------
Wen Tongli
Liu Hao
Li Yanling
Liu Chunxiao
Supervisor
--------------
Wang Aili
BUSINESS
OPERATION
SC’s registered business
scope includes manufacturing granules preparation (cephalosporins), injection
preparation (cephalosporins), tablets preparation (including cephalosporins),
the hard capsules preparation (including cephalosporins), sterile bulk drugs,
bulk drugs; manufacturing semi-synthetic antibiotic intermediates as well as
import and export of goods and technology (with permit if needed).
SC is mainly
engaged in manufacturing and selling preparation and pharmaceutical raw
materials.
SC’s
products mainly include: granules preparation (cephalosporins), injection
preparation (cephalosporins), tablets preparation (including cephalosporins),
the hard capsules preparation (including cephalosporins) & sterile bulk
drugs
SC sources its materials 50% from domestic market and 50% from overseas market. SC sells 80% of its products in domestic market, and 20% of its products 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.
Staff & Office:
--------------------------
SC is
known to have approx. 1,000
staff at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
n
NCPC Orchid Pharmaceutical Co., Ltd.
n
North China Pharmaceutical Group Corporation
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) No Complaints ( ) 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
Basic Bank:
Bank of
Communications Hebei Branch
AC#:
131080060146300002426
FINANCIALS
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
|
196,583 |
43,187 |
|
|
Notes receivable |
10,233 |
30,309 |
|
Accounts
receivable |
289,458 |
277,597 |
|
Advances to
suppliers |
31,653 |
32,312 |
|
Other receivable |
37,827 |
79,670 |
|
Inventory |
262,751 |
347,278 |
|
Non-current
assets within one year |
0 |
0 |
|
Other current assets |
0 |
326 |
|
|
------------------ |
------------------ |
|
Current assets |
828,505 |
810,679 |
|
Fixed assets |
553,162 |
2,365,862 |
|
Construction in
progress |
1,960,001 |
843,290 |
|
Intangible
assets |
4,780 |
9,542 |
|
Long-term
prepaid expenses |
0 |
0 |
|
Deferred income
tax assets |
2,619 |
2,619 |
|
Other
non-current assets |
6,765 |
6,764 |
|
|
------------------ |
------------------ |
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Total assets |
3,355,832 |
4,038,756 |
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|
============= |
============= |
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Short-term loans |
281,000 |
1,244,000 |
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Notes payable |
148,084 |
5,000 |
|
Accounts payable |
535,508 |
586,593 |
|
Wages payable |
3,759 |
5,259 |
|
Taxes payable |
-124,830 |
-97,106 |
|
Advances from
clients |
19,644 |
200,346 |
|
Other payable |
224,603 |
338,957 |
|
Other current liabilities |
705,407 |
925,427 |
|
|
------------------ |
------------------ |
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Current
liabilities |
1,793,175 |
3,208,476 |
|
Non-current
liabilities |
1,204,000 |
282,866 |
|
|
------------------ |
------------------ |
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Total
liabilities |
2,997,175 |
3,491,342 |
|
Equities |
358,657 |
547,414 |
|
|
------------------ |
------------------ |
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Total
liabilities & equities |
3,355,832 |
4,038,756 |
|
|
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2011 |
As of Dec. 31,
2012 |
|
Revenue |
1,676,862 |
2,012,734 |
|
Cost of sales |
1,620,872 |
1,850,985 |
|
Sales expense |
13,508 |
75,818 |
|
Management expense |
24,128 |
62,367 |
|
Finance expense |
11,134 |
22,675 |
|
Non-business
income |
8,166 |
1,795 |
|
Non-business expenditure |
386 |
865 |
|
Profit before
tax |
848 |
3,302 |
|
Less: profit tax |
-956 |
258 |
|
1,804 |
3,044 |
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2013 |
As
of Jun. 30, 2014 |
|
Total assets |
5,048,480 |
5,182,741 |
|
|
------------- |
------------- |
|
Total
liabilities |
4,057,116 |
4,185,610 |
|
Equities |
991,364 |
997,131 |
|
|
------------- |
------------- |
|
|
As of Dec. 31,
2013 |
From
Jan. 1, 2014 to Jun. 30, 2014 |
|
Profits |
733 |
5,767 |
Important Ratios
=============
|
|
As
of Dec. 31, 2011 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Jun. 31, 2014 |
|
*Current ratio |
0.46 |
0.25 |
-- |
-- |
|
*Quick ratio |
0.32 |
0.14 |
-- |
-- |
|
*Liabilities
to assets |
0.89 |
0.86 |
0.80 |
0.81 |
|
*Net profit
margin (%) |
0.11 |
0.15 |
-- |
-- |
|
*Return on
total assets (%) |
0.05 |
0.08 |
0.01 |
0.11 |
|
*Inventory /
Revenue ×365 |
58 days |
63 days |
-- |
-- |
|
*Accounts receivable/
Revenue ×365 |
64 days |
51 days |
-- |
-- |
|
*Revenue/Total
assets |
0.50 |
0.50 |
-- |
-- |
|
*Cost of sales
/ Revenue |
0.97 |
0.92 |
-- |
-- |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l
The revenue of SC appears
fairly good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of sales is fairly high, comparing with
its revenue.
LIQUIDITY:
FAIR
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 is maintained in an average
level.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered large-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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|
Report Prepared by
: |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.