MIRA INFORM REPORT
|
Report No. : |
309499 |
|
Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHENZHEN HAIBIN PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
No. 2003 Shenyan Road, Yantian District, Shenzhen, Guangdong Province 518081 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
22.08.1989 |
|
|
|
|
Com. Reg. No.: |
440301103737708 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing and selling antibiotic. |
|
|
|
|
No of Employees : |
545 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
SHENZHEN HAIBIN
PHARMACEUTICAL CO., LTD.
NO. 2003 SHENYAN
ROAD, YANTIAN DISTRICT, SHENZHEN
GUANGDONG PROVINCE
518081 PR CHINA
TEL: 86 (0)
755-25229666
FAX: 86 (0)
755-25226492
EXECUTIVE
SUMMARY
Date of Registration : AUGust 22, 1989
REGISTRATION NO. : 440301103737708
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 300,000,000
staff :
545
BUSINESS CATEGORY : MANUFACTURING
& TRADING
REVENUE :
CNY 355,693,000 (FROM JAN. 1, 2014 TO JUN. 30, 2014)
EQUITIES :
CNY 349,159,000 (AS OF JUN. 30, 2014)
WEBSITE : www.szhaibin.com
E-MAIL :
haibinexport5@126.com
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : 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
Not yet be determined
LEGAL
STATUS & HISTORY
SC was established
as a Chinese-foreign equity joint
venture enterprise of PRC on August
22, 1989. However, SC changed to present legal form, and was registered
as a limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 440301103737708
on November 8, 1999.
SC’s Organization Code Certificate No.:
61885517-4
SC’s Tax No.: 440301618855174
SC’s Customs Registration No.: 4453068344
SC’s registered capital: CNY 300,000,000
SC’s paid-in capital: CNY 300,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
1992-12-4 |
Legal Representative |
Zhong Yu |
Ye Chenghai |
|
1997-10-22 |
Ye Chenghai |
Zhu Baoguo |
|
|
1999-11-8 |
Company Chinese Name |
深圳海滨制药有限公司 |
深圳市海滨制药有限公司 |
|
Shareholder (s) (% of Shareholding) |
Taitai Pharmaceutical Industry (Hong Kong)
Company Limited 40% Shenzhen Taitai Pharmaceutical Industry Co.,
Ltd. 60% |
Shenzhen Taitai Pharmaceutical Industry Co.,
Ltd. 95% Shenzhen Taite Health Products Co., Ltd. 5% |
|
|
Legal Form |
Chinese-foreign equity joint venture
enterprise |
Limited Liabilities Company |
|
|
Registration No. |
100780 |
4403011035083 |
|
|
1999-11-8 |
Shareholder’s Chinese Name |
深圳泰特保健品有限公司 |
深圳市泰特保健品有限公司 |
|
1999-11-24 |
深圳太太药业有限公司 |
深圳太太药业股份有限公司 |
|
|
2002-4-26 |
Shareholder’s Name |
Shenzhen Taite Health Products Co., Ltd. |
Shenzhen Healthy Food Co., Ltd. |
|
2003-6-4 |
Shenzhen Taitai Pharmaceutical Industry Co.,
Ltd. |
Shenzhen Healthy Pharmaceutical Group
Industry Co., Ltd. |
|
|
2003-9-29 |
Shenzhen Healthy Pharmaceutical Group
Industry Co., Ltd. |
Joincare Pharmaceutical Group Industry Co.,
Ltd. |
|
|
2005-11-8 |
Shenzhen Healthy Food Co., Ltd. |
Shenzhen Joincare Daily & Health
Products Co., Ltd. |
|
|
2005-11-25 |
Shenzhen Joincare Daily & Health
Products Co., Ltd. |
Joincare Daily & Health Products Co.,
Ltd. |
|
|
2008-11-28 |
Registration No. |
4403011035083 |
440301103737708 |
|
2011-2-22 |
Registered Capital |
CNY 55,000,000 |
CNY 300,000,000 |
|
Shareholder (s) (% of Shareholding) |
Joincare Pharmaceutical Group Industry Co.,
Ltd. 95% Joincare Daily & Health Products Co.,
Ltd. 5% |
Joincare Pharmaceutical Group Industry Co.,
Ltd. 95.03% Joincare Daily & Health Products Co.,
Ltd. 4.97% |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Joincare
Pharmaceutical Group Industry Co., Ltd. |
95.03 |
|
Joincare Daily
& Health Products Co., Ltd. |
4.97 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Zhu Baoguo |
|
General Manager |
Su Qingwen |
|
Director |
Zhong Shan |
|
Liu Guangxia |
|
|
Supervisor |
Wang Jiumei |
|
Liu Guangli |
|
|
Li Changqing |
RECENT
DEVELOPMENT
SC has got the certificates of
ISO14001, OHSAS18001.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Joincare Pharmaceutical Group Industry Co.,
Ltd. 95.03
Joincare Daily & Health Products Co.,
Ltd. 4.97
Joincare
Pharmaceutical Group Industry Co., Ltd.
=======================================
Date of Registration: December 18, 1992
Registration No.: 440301501126176
Legal Form: Shares Limited
Company
Registered Capital: CNY 1,545,835,892
Address: Joincare Pharmaceutical Group Building, No. 17, Lang Shan Road, North Area, High-tech Zone,
Nanshan District, Shenzhen, Guangdong Province
Tel: 86- 755-86252388
Fax: 86- 755-86252398
Web: www.joincare.com
E-mail: joincare@joincare.com
Joincare Daily
& Health Products Co., Ltd.
==================================
Date of Registration: February 7, 1996
Registration No.: 440301103199557
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 25,000,000
MANAGEMENT
Zhu Baoguo, Legal Representative and Chairman
----------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 52
Ø Qualification:
University
Ø Working experience
(s):
From 1997 to present, working in SC as legal
representative and chairman
Also working in Joincare Pharmaceutical Group
Industry Co., Ltd., Livzon Pharmaceutical Group Inc., Shenzhen Taitai Genomics
Inc. as legal representative; in Might Seasons Limited as director
Su
Qingwen, General Manager
----------------------------------------------------
Ø
Gender: M
Ø
Age: 68
Ø Qualification:
University
Ø Working experience
(s):
From 1999 to present, working in SC as
general manager
Director
----------
Zhong Shan
Liu Guangxia
Supervisor
--------------
Wang Jiumei
Liu Guangli
Li Changqing
BUSINESS
OPERATION
SC’s registered
business scope includes powder injection (including penicillin), tablets, hard
capsules, bulk drugs, sterile bulk drugs. (<Drug Production License>
validity period as of December 31, 2015) import and export business, domestic
trade (excluding franchise, the control and monopoly of goods))
SC is mainly
engaged in manufacturing and selling antibiotic.
Brand: HB
SC’s products
mainly include: meropenem, imipenem and cilastatin, biapenem, faropenem, etc.
SC sources its materials 80% from domestic market, and 20% from overseas market. SC sells 60% of its products in domestic market, and 40% 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 Customers:
==============
Vicente Scavone Ciasa
Laboratorio Franco
Colombiano Lafrancol Sas
Staff & Office:
--------------------------
SC is known
to have approx. 545 staff at
present.
SC owns an area as
its operating office & factory of approx. 26,800 sq. meters at the heading
address.
RELATED
COMPANY
n
Livzon Pharmaceutical Group Inc.
n Might Seasons Limited
n
Shenzhen Taitai Genomics Inc.
n
Shenzhen Xiyue Industry Co., Ltd.
Etc.
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 SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Jun. 30, 2014 |
|
Total assets |
596,867 |
633,393 |
664,334 |
|
|
------------- |
------------- |
------------- |
|
Total
liabilities |
271,284 |
300,959 |
315,175 |
|
Equities |
325,583 |
332,434 |
349,159 |
|
|
------------- |
------------- |
------------- |
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
From Jan. 1, 2014 to Jun. 30, 2014 |
|
Revenue |
519,970 |
587,281 |
355,693 |
|
Profits |
14,687 |
6,851 |
16,725 |
Important Ratios
=============
|
|
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Jun. 30, 2014 |
|
*Liabilities
to assets |
0.45 |
0.48 |
0.47 |
|
*Net profit
margin (%) |
2.82 |
1.17 |
4.70 |
|
*Return on
total assets (%) |
2.46 |
1.08 |
2.52 |
|
*Revenue /
Total assets |
0.87 |
0.93 |
0.54 |
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.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with 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
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.