MIRA INFORM REPORT
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Report No. : |
344283 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NORTH CHINA PHARMACEUTICAL GROUP SEMISYNTECH CO., LTD. |
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Registered Office : |
No. 20 Yangzi Road, Economic and Technology Development Zone Shijiazhuang, Hebei Province 052165 PR |
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Country : |
China |
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Date of Incorporation : |
17.04.1997 |
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Com. Reg. No.: |
130000000023532 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in includes
manufacturing API, sterile APIs; manufacturing and selling pharmaceutical
intermediates, package container; importing and exporting goods and
technology, excluding the goods forbidden by the government. |
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No. of Employees : |
400 |
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 – 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. 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 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 that
year... 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 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 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
NORTH CHINA
PHARMACEUTICAL GROUP SEMISYNTECH CO., LTD.
NO. 20 YANGZI ROAD, ECONOMIC AND TECHNOLOGY DEVELOPMENT ZONE SHIJIAZHUANG, HEBEI PROVINCE 052165 PR CHINA
TEL: 86 (0) 311-83098186
FAX: 86 (0) 311-83098198
(Note:
SC’s address should be the heading one, while SC’s parent company-North China
Pharmaceutical Co., Ltd. locates in the (No. 392, Heping East Road,
Shijiazhuang, Hebei, P R China)
EXECUTIVE
SUMMARY
Date of Registration : APRIL 17, 1997
REGISTRATION NO. : 130000000023532
LEGAL FORM :
One-person Limited Liability Company
REGISTERED CAPITAL :
CNY 128,689,520
staff : 400
BUSINESS CATEGORY : MANUFACTURING & TRADING
REVENUE :
CNY 880,016,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 179,736,000 (AS OF DEC. 31, 2014)
WEBSITE : www.semisyntech.com
E-MAIL : xtscb888@163.com
PAYMENT : NO COMPLAINTS
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.20 = USD 1 AS OF
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 one-person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 130000000023532 on April 17, 1997.
SC’s Organization Code Certificate
No.: 60145392-9
SC’s registered capital: CNY 128,689,520
SC’s paid-in capital: CNY 128,689,520
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
North China Pharmaceutical
Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman
and General Manager |
Liu
Guitong 刘桂同 |
|
Supervisor |
Sun
Yaohua 孙耀华 |
RECENT
DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
North China Pharmaceutical Co.,
Ltd. 100
Date of Registration: December
20, 1992
Registration No.: 130000000008365
Registered Capital: CNY
1,630,804,729
MANAGEMENT
Liu
Guitong Legal Representative, Chairman and General Manager
Ø
Gender: M
Ø
Nationality: China
Ø
Age: 49
Ø Qualification:
University
Ø Working
experience (s):
At present, working in SC as
legal representative, chairman and general manager, also working in North China
Pharmaceutical Co., Ltd. as deputy general manager
Sun Yaohua , Supervisor
Ø
Gender: M
Ø
Nationality: China
BUSINESS
OPERATION
SC’s registered business scope includes
manufacturing API, sterile APIs; manufacturing and selling pharmaceutical
intermediates, package container; importing and exporting goods and technology,
excluding the goods forbidden by the government.
SC is
mainly engaged in manufacturing and selling API, and pharmaceutical
intermediates.
SC’s
products mainly include: non-sterile products, sterile products, intermediate.
SC sources its materials 100% from domestic market, mainly Hebei. SC sells 80% of its products in domestic market, and 20% to overseas market, mainly USA, Europe, Mid East, Southeast Asia.
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.
Staff & Office:
SC is
known to have approx. 400 staff
at present.
SC
owns an area as its operating office and factory, but the detailed information
is unknown.
RELATED
COMPANY
SC is not known to have any subsidiary at present.
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
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Unit:
CNY’000 |
As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total
assets |
372,837 |
661,116 |
687,674 |
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Total
liabilities |
288,099 |
526,397 |
507,938 |
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Equities |
84,738 |
134,719 |
179,736 |
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Revenue |
52,838 |
570,800 |
880,016 |
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Profits |
-341 |
30,482 |
45,041 |
Important
Ratios
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As of Dec. 31, 2012 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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*Liabilities
to assets |
0.77 |
0.80 |
0.74 |
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*Net
profit margin (%) |
-0.65 |
5.34 |
5.12 |
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*Return
on total assets (%) |
-0.09 |
4.61 |
6.55 |
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*
Revenue/Total assets |
0.14 |
0.86 |
1.28 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l The
revenue of SC appears fairly good in its line.
l SC’s
net profit margin is fairly good in 2013 and 2014.
l SC’s
return on total assets is fairly good in 2013 and 2014.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an average level,
comparing with the size of its total assets in 2014.
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: Fairly Good.
CONCLUSIONS
SC is considered medium-sized in its line with fairly good
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
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UK Pound |
1 |
Rs.99.54 |
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Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
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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.