MIRA
INFORM REPORT
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Report No. : |
305131 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
26/F, Conba Mansion, No. 288 Jiangnan Highway, Binjiang District, Hangzhou, Zhejiang Province, 310052 Pr |
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Country : |
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Date of Incorporation : |
26.06.1996 |
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Com. Reg. No.: |
330000000007904 |
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Legal Form : |
Limited Liabilities company |
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Line of Business : |
Manufacturing and Selling of Pharmaceutical Products and Industrial
Investment. |
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No. of Employees : |
Not Available |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 and address
CONBA
GROUP CO.,
LTD.
26/F, CONBA MANSION,
NO. 288 JIANGNAN highway, BINJIANG DISTRICT, HANGZHOU, ZHEJIANG province,
310052 PR CHINA
TEL: 86 (0)
571-87774374/87774853 FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE : june 26, 1996
REGISTRATION NO. : 330000000007904
REGISTERED LEGAL FORM
: Limited liabilities
company
STAFF STRENGTH : N/A
REGISTERED CAPITAL :
CNY 350,000,000
BUSINESS LINE :
MANUFACTURING & investing
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : No COMPLAINTS
MARKET CONDITION : competitive
FINANCIAL CONDITION
: N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : well-known
EXCHANGE RATE : CNY 6.2446 = 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
SC was registered as a limited liabilities co. at Zhejiang Provincial
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license).
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes wholesale and retail of pre
packaged food and bulk food, dairy products (including infant formula milk powder)
(it is valid until November 24, 2014). Pharmaceutical industry investment and
development, manufacture and sales of chemical raw materials and products
(excluding dangerous goods), sales of metal materials, paper, packaging
material, retail of hardware machinery, textile, daily general merchandise,
technology consulting services, warehousing services (excluding dangerous
goods), import and export business.
SC is mainly
engaged in manufacturing and selling pharmaceutical products, and industrial
investment.
Mr. Chen Guoping is legal
representative and chairman of SC at present.
SC’S employee’s
information is unavailable at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Hangzhou. SC’s employee refused to release the
detailed information of the premise.
Note: the factory address of SC
is not available.
http://www.conbagroup.com/ The design is professional
and the content is well organized. At present it is in Chinese and English
versions.
Email: shenyt@conbagroup.com
For the past two years there is no record of
litigation.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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1997-11-26 |
Company’s name |
Zhejiang Jinxin
Kang’enbei Pharmaceutical Development Co., Ltd. (In Chinese Pinyin) |
Zhejiang
Conba Group Co., Ltd. |
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2000-07-07 |
Company’s name |
Zhejiang
Conba Group Co., Ltd. |
Present one |
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2005-09-29 |
Registered capital |
Cny
150,000,000 |
CNY 241,216,200 |
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2007-09-21 |
Registered capital |
CNY 241,216,200 |
CNY 300,000,000 |
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2007-09-24 |
Registration no. |
3300001000679 |
Present one |
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2012-12-14 |
Registered capital |
CNY 300,000,000 |
Present amount |
Subject passed the
annual inspection of 2012 with Administration for Industry & Commerce.
Organization Code:
142938002
MAIN SHAREHOLDERS:
Name Amount
(CNY) % of Shareholding
Hu Jiqiang 53,746,000 15.36
Wen Yan 25,783,800 7.36
Lanxi Kangda Investment Development
Corp. (in Chinese
pinyin) 15,000,000 4.29
Li Jianzhong 25,789,500 7.37
Zhejiang Bokang
Medical Investment Co., Ltd. 229,680,700 65.62
Lanxi Kangda
Investment Development Corp. (in Chinese pinyin)
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Registration no.:
330781000015897
Legal
representative: Ying Jun
Incorporation
Date: 1992-07-01
Zhejiang Bokang
Medical Investment Co., Ltd.
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Registration no.:
330108000034728
Legal
representative: Hu Jiqiang
l
Legal representative and chairman:
Mr. Chen Guoping, born in 1960 with master’s degree, he 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 Zhejiang Conba Pharmaceutical Co.,
Ltd. as director.
l
Directors:
Dong Shuxiang
Zhang Weiliang
Wu Zhongshi
Hu Jiqiang
l
Supervisor:
Hu Bei
SC is mainly
engaged in manufacturing and selling pharmaceutical products, and industrial
investment.
SC’s products mainly include:
pharmaceuticals.
Brand: CONBA
SC sources its
materials 90% from domestic market, and 10% from overseas market. SC sells 95%
of its products in domestic market, and 5% 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.
Note: SC’s
management refused to release its supplier and client details.
TRADEMARKS &
PATENTS
Registration No.: 9447650
Registration Date: 2012-5-28
Trademark Design: 
Registration No.: 9447679
Registration Date: 2012-5-28
Trademark Design: 
Registration No.: 9981556
Registration Date: 2012-11-21
Trademark Design: 
SC is known to invest in
the following companies:
Zhejiang Conba
Pharmaceutical Co., Ltd.
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It is a listed company in
Shanghai Stock Exchange Market with the stock code 600572.
Incorporation Date:
1993-1-09
Registration No.:
330000000010348
Legal representative: Hu
Jiqiang
Web: http://www.conba.com.cn
(Conba Group)
Email: conbazq@conbagroup.com
Zhejiang Baozhilin Chinese
Medicine Technology Co., Ltd. (In Chinese Pinyin)
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Incorporation Date:
2011-09-07
Registration No.:
330000000059706
Legal representative: Cai
Shaoying
Zhejiang Conba Yangyingtang
Food Co., Ltd. (In Chinese Pinyin)
=================================
Incorporation Date:
2012-03-13
Registration No.:
330783000085589
Legal representative: Wu
Zhongshi
Etc.
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.
SC’s management declined to release its bank
details.
SC’s management declined to release any
financial information.
SC has developed for 19 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.50 |
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1 |
Rs.93.12 |
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Euro |
1 |
Rs.69.32 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIT |
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.