MIRA INFORM REPORT
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Report No. : |
309637 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NINGXIA KINGVIT PHARMACEUTICAL CO., LTD. |
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Registered Office : |
Wangyuan Development Zone, Yongning County Ningxia 750101 Pr |
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Country : |
China |
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Date of Incorporation : |
16.07.2010 |
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Com. Reg. No.: |
640121200005221 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and selling bulk drugs (vitamin B12, methylcobalamin,
vitamin B2, cobamamide), feed additives [vitamin (I): vitamin B12], vitamin
B12 cell protein; hardware, electrical and mechanical equipment (excluding
cars), production and use of raw and auxiliary materials and products
(soybean oil, corn starch, betaine, corn germ, corn gluten meal, soybean
meal, cottonseed protein, corn syrup excluding dangerous goods), chemical
reagents (excluding dangerous goods and precursor products), office supplies
and equipment, labor supplies, packaging materials, valves, pipe fittings,
environmental equipment and materials (with permit if needed) |
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No. of Employees : |
300 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company
name & address
NINGXIA KINGVIT PHARMACEUTICAL
CO., LTD.
WANGYUAN DEVELOPMENT ZONE, YONGNING COUNTY NINGXIA 750101 PR CHINA
TEL: 86 (0) 951-6149109/8462647/8462651
FAX: 86 (0) 951-6149106
EXECUTIVE
SUMMARY
Date of Registration : july 16, 2010
REGISTRATION NO. : 640121200005221
LEGAL FORM : LIMITED LIABILITIES
COMPANY
CHIEF EXECUTIVE :
chen degang (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : cny
120,000,000
staff :
300
BUSINESS CATEGORY :
manufacturing & trading
Revenue :
n/a
EQUITIES :
n/a
WEBSITE : www.duoweijt.com
E-MAIL :
n/a
PAYMENT :
unknown
MARKET CONDITION : competitive
FINANCIAL CONDITION : n/a
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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a limited liabilities company of PRC on July 16, 2010. However, SC changed to present
legal form, and was registered as a shares limited company of PRC with State
Administration for Industry & Commerce (SAIC) under registration No.:
640121200005221 in 2012.
SC’s Organization Code Certificate No.:
55417171-7
SC’s registered capital: cny 120,000,000
SC’s paid-in capital: cny 120,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
|
2012 |
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Ningxia Duowei Pharmaceutical Co., Ltd. |
2 |
|
Wang Danna |
88.96 |
|
Chen Degang |
3 |
|
Wang Changlu |
1.5 |
|
Wang Zhong |
1 |
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Wang Hongxia |
1 |
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Li Wei |
1 |
|
Qi Junfeng |
1 |
|
Gao Yong |
0.28 |
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Wei Wei |
0.16 |
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Gao Guangli |
0.05 |
|
Wang Zhi |
0.05 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Chen Degang |
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Supervisor |
Wu Sheng |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Ningxia Duowei Pharmaceutical Co., Ltd. 2
Wang Danna 88.96
Chen Degang 3
Wang Changlu 1.5
Wang Zhong 1
Wang Hongxia 1
Li Wei 1
Qi Junfeng 1
Gao Yong 0.28
Wei Wei 0.16
Gao Guangli 0.05
Wang Zhi 0.05
Ningxia Duowei Pharmaceutical Co., Ltd.
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Registration No.: 640121200001542
Date of Registration: January 4, 2006
Legal Form: Limited Liabilities Company
Registered Capital: CNY 58,980,000
Legal Representative: Zhang Yongle
Web: http://duowei.com.cn
MANAGEMENT
Chen Degang, Legal Representative, Chairman and General
Manager
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Gender: M
Working experience (s):
At present, working in SC as legal representative, chairman and general
manager
Supervisor
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Wu Sheng
BUSINESS OPERATION
SC’s registered business scope includes manufacturing and selling bulk
drugs (vitamin B12, methylcobalamin, vitamin B2, cobamamide), feed additives
[vitamin (I): vitamin B12], vitamin B12 cell protein; hardware, electrical and
mechanical equipment (excluding cars), production and use of raw and auxiliary
materials and products (soybean oil, corn starch, betaine, corn germ, corn
gluten meal, soybean meal, cottonseed protein, corn syrup excluding dangerous
goods), chemical reagents (excluding dangerous goods and precursor products),
office supplies and equipment, labor supplies, packaging materials, valves,
pipe fittings, environmental equipment and materials (with permit if needed)
SC is mainly engaged in manufacturing and selling bulk drugs, vitamin
B12 feed additives and vitamin B12 cell protein.
SC’s products mainly include:
Cyanocobalamin
Mecobalamin
Vitamin B12 Feed Additive
Vitamin B12 Food Additive
SC sources its materials 100% from domestic market. SC sells 70% of its
products in domestic market, and 30% to overseas market, mainly Southeast Asia.
The buying terms of SC include Check, 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.
Staff &
Office:
--------------------------
SC is known to have approx. 300
staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
According to SC’s
website:
Sales Center:
Add: 20/F, Dahangjiye Building, No. 33 Renda North Road, Haidian
District, Beijing, China 100080
Tel: +86-10-82684966-830
Fax: +86-10-82685169
According to the
website: www.duoweijt.com
Ningxia Golden Sunshine Real Estate Development Co., Ltd.
Date of Registration:
Registration No.: 641100200014137
Registered Capital: CNY 60,000,000
Legal Representative: Qi Lifeng 祁立峰
Legal Form: Limited liabilities company
Web: http://www.duoweijt.com/jsyg_1
Tel: 86 (0) 951-4111359
Beijing Unique Guide Advertising Co., Ltd.
北京奇特路广告有限公司
Date of Registration:
Registration No.: 110108013179775
Registered Capital: CNY 3,000,000
Legal Representative: Zhou Chengdong
Legal Form: Limited liabilities company
Web: www.qtlad.com
E-mail: qitelu@163.com
Tel: 86 (0) 10-82684966
Fax: 86 (0) 10-82684966-802
PAYMENT
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.
BANKING
The bank information of SC is not filed in local SAIC.
FINANCIALS
The financials are not filed in local SAIC, and SC also refused to
release the details.
CONCLUSIONS
SC is considered medium-sized in its line with 5 years business history.
Taking into consideration of SC’s general performance, reputation as well as
market conditions, credit dealings with SC should be confined into moderate
amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.79 |
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|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.