MIRA INFORM REPORT
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Report No. : |
349836 |
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Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
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Name : |
CHIRAL QUEST (SUZHOU) CO., LTD. |
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Registered Office : |
9/F, B1, NO. 218 XINGHU STREET, SUZHU INDUSTRIAL PARK,
JIANGSU PROVINCE 215123 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
30.01.2008 |
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Com. Reg. No.: |
320594400022054 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Subject is engaged in researching and developing non-natural amino
acid compounds, chiral amines, chiral alcohols, chiral acids, amino alcohols,
heterocyclic compounds, aromatic compounds, aliphatic compounds, phosphorus
compounds; selling its owned products; transfer its owned R&D results,
providing related service; importing and exporting chemical products |
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No. of Employee : |
31 |
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 : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. 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 2014 stood as the largest economy in the world, surpassing the US for the first time in modern history. Still, China's per capita income is below the world average.
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. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
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 2014 more than 274 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China also implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
COMPANY
NAME AND ADDRESS
CHIRAL QUEST (SUZHOU)
CO., LTD.
9/F, B1, NO. 218 XINGHU STREET, SUZHU INDUSTRIAL PARK, JIANGSU PROVINCE 215123 PR CHINA
TEL: 86 (0) 512-62956066
FAX: 86 (0) 512-62956065/69369097
EXECUTIVE
SUMMARY
Date of Registration : january 30, 2008
REGISTRATION NO. : 320594400022054
LEGAL FORM : Wholly foreign-owned enterprise
REGISTERED CAPITAL : usd 22,000,000
staff : 31
BUSINESS CATEGORY : RESEARCHING & DEVELOPING &
TRADING
Revenue :
CNY 97,609,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 3,216,000 (AS OF DEC. 31, 2014)
WEBSITE : www.chiralquest.com
E-MAIL :
sales@cqpharm.com
PAYMENT : No Complaints
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : ORDINARY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.37 = USD
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 wholly foreign-owned enterprise of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 320594400022054 on January 30, 2008.
SC’s Organization Code Certificate
No.: 67202153-3
%20CO.,%20LTD.%20-%20349836%2023-Nov-2015_files/image006.jpg)
SC’s registered capital: usd 22,000,000
SC’s paid-in capital: usd 22,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
|
Registered Capital |
usd 12,000,000 |
usd 15,000,000 |
|
|
Registered Capital |
usd 15,000,000 |
usd 22,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Chiral Quest II Limited (Hong
Kong) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and
Chairman |
Fei
Jianjiang |
|
General Manager |
Wu
Shengwen |
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Director |
Zhang Xumu |
|
Liu Yuwen |
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|
Lo,Andrew Hin-Yeung |
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|
James Zuie Huang |
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|
Wu Shengwen |
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Supervisor |
Liu
Qianye Karen |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Chiral Quest II Limited (Hong
Kong) 100
---------------------------------------------
Date of Registration: December 3, 2008
Registration No.: 1291533
Legal Form: Private
MANAGEMENT
Fei
Jianjiang , Legal
Representative and Chairman
-----------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 45
Ø
ID# 320522197006300533
Ø Qualification:
University
Ø Working experience
(s):
From 2008 to present, working in SC as
legal representative and chairman
Wu Shengwen, General Manager
-------------------------------------------
Ø Gender: M
Ø Passport No.:
S2615829Z
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general
manager
Director
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Zhang Xumu Passport No.: 095742087
Liu Yuwen刘毓文 ID# 320502197303112541
Lo,Andrew Hin-Yeung Passport No.: 501273592254
James Zuie Huang Passport No.: 488850964
Wu Shengwen Passport No.: S26158292
Supervisor
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Liu Qianye Karen
BUSINESS
OPERATION
SC’s registered business scope includes researching and
developing non-natural amino acid compounds, chiral amines, chiral alcohols,
chiral acids, amino alcohols, heterocyclic compounds, aromatic compounds,
aliphatic compounds, phosphorus compounds; selling its owned products; transfer
its owned R&D results, providing related service; importing and exporting
chemical products.
SC is
mainly engaged in researching & developing and selling bio-chemical products.
SC’s
products mainly include:
Aprepitant
Intermediates
Atomoxetine
intermediate
Dorzolamide
Intermediates
Duloxetine
intermediates
Ebastine
Intermediates
Lacosamide
intermediates
Linagliptin
intermediates
Mitiglinide
Intermediates
Chiral
Chemicals
Heterocyclic
Chemicals
SC sources its materials 100% from domestic market, mainly Jiangsu. 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 T/T, L/C and Credit of 30-60 days.
*Major Customer:
==============
Irix Manufacturing
Inc.
Staff & Office:
--------------------------
SC is
known to have approx. 31 staff
at present.
SC rents an area
as its operating office and factory, but the detailed information is unknown.
RELATED
COMPANY
Jiangxi
Long Life Bio-Pharmaceutical Co., Ltd.
Address:
198 Industrial Avenue, JinxianIndustrial Park, Nanchang, Jiangxi Province
Tel:
+86-791-85667286
Fax:
+86-791-85566333
Email:
sales@cqpharm.com
Cambridge,
UK office:
Address:
Trinity House, Cambridge Business Park, Cowley Road, Cambridge, CB4 0WZ, UK.
Dr
Ian C. Lennon, Senior Vice President Global Business Development
Tel:
+44 (0)1223 393591
Fax:
+44 (0)1223 393533
Email:
ilennon@chiralquest.com
India
Office:
Address:
Plot No23,
Tel:
+91-040-23510950
E-mail:
indiaoffice@cqpharm.com
U.S.
Office:
Address:
1 Deer Park Dr., Suite F1, Monmouth Junction, NJ 08852 USA
Tel:
+1 732 274 0399
FAX:
+1 732 274 0402
E-mail:
ychi@chiralquest.com
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, 2013 |
As
of Dec. 31, 2014 |
|
Total assets |
82,010 |
79,352 |
|
|
------------- |
------------- |
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Total
liabilities |
79,734 |
76,136 |
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Equities |
2,276 |
3,216 |
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------------- |
------------- |
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Revenue |
26,415 |
97,609 |
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Profit before
tax |
-26,320 |
17,713 |
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Less: profit tax |
0 |
0 |
|
Profits |
-26,320 |
17,713 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
*Liabilities
to assets |
0.97 |
0.96 |
|
*Net profit
margin (%) |
-99.64 |
18.15 |
|
*Return on total
assets (%) |
-32.09 |
22.32 |
|
*Revenue/Total
assets |
0.32 |
1.23 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l The revenue of SC appears average in its line.
l SC’s net profit
margin is fairly good in 2014.
l SC’s return on total
assets is fairly good in 2014.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an
average level in 2014, comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.09 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
|
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 |
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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 |
|
<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.