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Report No. : |
309385 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NORTH CHINA
PHARMACEUTICAL HUASHENG CO., LTD. |
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Registered Office : |
No. 8 Yangzi Road, Economic & Technical Development Zone,
Shijiazhuang, Hebei Province, 052160 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
04.05.1995 |
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Com. Reg. No.: |
130000400000589 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in manufacturing and selling pharmaceutical raw
materials. |
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No. of Employees : |
600 |
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) |
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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
|
Source
: CIA |
NORTH CHINA PHARMACEUTICAL HUASHENG CO., LTD.
NO. 8 Yangzi Road, Economic & Technical Development
Zone, Shijiazhuang, Hebei PROVINCE, 052160 PR CHINA
TEL: 86 (0) 311-83090290/83090277/83090273 FAX: 86 (0) 311-83090280
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY 4, 1995
REGISTRATION NO. : 130000400000589
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE :
MR. zhang tianbing (CHAIRMAN)
STAFF STRENGTH :
600
REGISTERED CAPITAL : cny 124,107,200
BUSINESS LINE :
MANUFACTURING
TURNOVER :
N/A
EQUITIES :
CNY 171,903,000 (AS OF JUNE 30, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.26 =
SC was registered as a one-person limited liability company at Hebei Provincial
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license).
Company
Status: One-person Limited Liability Company
Single prson LLC refers to a limited liability company set up by only one natural person or legal person as the single shareholder of it.
The minimum registered capital of Single person LLC is CNY100,000. The shareholder’s capital contributes, as set out by the articles of associations should be a lump-sum payment in full.
One natural person can only invest in and set up one limited liability company, which is not permitted to invest in and set up a new Single person LLC.
As to any one-person limited liability company, the sole-investor nature of the natural person or legal person shall be indicated in the registration documents of the company and shall be indicated in the business license thereof as well.
The regulation of Single person LLC should be set up by the shareholder
The regulation of Single person LLC has no shareholder meeting.
SC’s registered business scope includes manufacturing sterile bulk drugs
(streptomycin, capreomycin sulfate, spectinomycin hydrochloride and clindamycin
Phosphate), API (kasugamycin hydrochloride, amphotericin B, bacitracin, vancomycin
hydrochloride, teicoplanin, cyclosporine, sirolimus, mycophenolate mofetil,
fusidic acid, mizoribine, natamycin and clindamycin hydrochloride) (Drug
production license is valid until December 31, 2015); importing and exporting
goods and technology (excluding the goods forbidden by the government); (the
following operation limited to branches): manufacturing APIs (mycophenolate
mofetil, sirolimus, tacrolimus, natamycin, mizoribine, mycophenolate sodium,
pamidronate disodium, daptomycin, clindamycin phosphate, clindamycin phosphate,
venlafaxine hydrochloride, minocycline hydrochloride, ganciclovir, Pravastatin
Sodium, Pefloxacin mesylate, Lovastatin, simvastatin, Pazufloxacin Mesylate,
Atorvastatin Calcium and voglibose); manufacturing sterile bulk drugs
(phenylpropanolamine hydrochloride vancomycin, clindamycin phosphate,
clindamycin hydrochloride). (Any project that needs to be approved by law can
only be carried out after getting approval by relevant authorities.) (2015)
SC is mainly engaged in manufacturing and selling pharmaceutical raw
materials.
Mr. Zhang Tianbing is legal
representative, chairman and general manager of SC at present.
SC is known to have approx. 600 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the Economic & Technical
Development Zone of Shijiazhuang. Our checks reveal that SC owns the total
premise but SC’s accountant refused to release the gross area.
http://www.ncpchs.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: mail@ncpchs.com ncpchs@ncpchs.com
SC’s former Legal Representative was Liu Shouwen
Former Shareholders were USA Wincent Int’l Inc. 10%
North China Pharmaceutical Co., Ltd. 51%
North China Pharmaceutical Group Corp.39%;
Former Legal Form was Chinese-foreign equity joint venture enterprise;
Former Registered Capital was USD 13,284,000.
Note: the change
details are not available at present.
Organization Code: 601702614
There is no record of litigation till now.
Name %
of Shareholding
North China Pharmaceutical Co., Ltd
100
North China Pharmaceutical Co., Ltd. is listed in Shanghai Stock
Exchange Market with the code 600812.
Registration No.: 130000000008365
Registered Legal Form: Shares Limited Company
Chief Executive: Mr. Yang Haijing (Chairman)
Add: No. 388, Heping East Road, Shijiazhuang, Hebei Province, 050015 Pr
China
388
Tel: 86 (0) 311-85992690, 0311-86696493
Fax: 86 (0) 311-86060942
E-mail: yanghaijing@ncpc.com
Legal representative, chairman and general manager:
Mr. Zhang Tianbing is currently responsible for the overall management
of SC.
Working Experience(s):
At present Working
in SC as chairman, legal representative and general manager.
Supervisor:
Meng Ruilin
SC is mainly engaged in manufacturing and selling pharmaceutical raw
materials.
Main Products: Vancomycin Hydrochloride, Streptomycin Sulfate Sterile,
Streptomycin Sulfate Oral, Streptomycin Sulfate Crude, Spectinomycin
Hydrochloride, Kasugamycin Hydrochloride, Dihydrostreptomycin sulfate,
Capreomycin Sulfate, Bacitracin, Amphotericin B, etc.
Trademarks & patents: N/A
SC sources its materials 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% to overseas market.
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.
Note: SC’s management refused to release its main suppliers and clients.
North China Pharmaceutical Group Corporation
-------------------------------------
Reg. no.: 130000000008902
Legal representative: Wang Sheping
Incorporation Date: 1995-12-29
Web: http://www.ncpc.com
North China Pharmaceutical Kangxin Co., Ltd.
=================================
Registration No.: 130000400001160
Incorporation Date:
Chairman: Wang Wentao 王文涛
Hebei Welcome Pharmaceutical Co., Ltd.
==============================
Registration No.: 130000400001119
Incorporation Date:
Chairman: Zhou Xiaobing
NCPC Victor Co., Ltd.
====================
Registration No.: 130000400002164
Incorporation Date:
Chairman: Zhou Xiaobing
Web: http://www.ncpcvictor.com/
North China Pharmaceutical Group Semisyntech Co., Ltd.
==========================================
Registration No.: 130000000023532
Incorporation Date:
Chairman: Liu Guitong
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 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.
Bank of Communications Shijiazhuang Heping East Road Sub-branch
AC#：N/A
Relationship: Normal.
Financial
Summary
Unit: CNY’000
|
|
As of Dec. 31,
2013 |
As of June 30,
2014 |
|
Total liabilities |
299,052 |
353,746 |
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Equities |
161,310 |
171,903 |
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-------------- |
-------------- |
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Total assets |
460,362 |
525,649 |
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========= |
========= |
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Profits |
23,115 |
10,593 |
Note:
SC’s detailed financial report is not available at present.
Important
Ratios
|
|
as of Dec. 31,
2013 |
As of June 30,
2014 |
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*Liabilities to assets |
0.65 |
0.67 |
|
*Return on total assets (%) |
5.02 |
2.02 |
SC’s return on total assets is fairly good in 2013, but average in the 1st
half of 2014.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.