MIRA INFORM REPORT
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Report No. : |
343510 |
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Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ANHUI JINQUAN BIOTECHNOLOGY CO., LTD. |
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Registered Office : |
Leichi Industrail Zone, Wangjiang County, Anqing City, Anhui Province,
246234 Pr |
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Country : |
China |
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Financials (as on) : |
30.06.2015 |
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Date of Incorporation : |
15.12.2005 |
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Com. Reg. No.: |
340827000007380 |
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Legal Form : |
Shares Limited Co. |
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Line of Business : |
Subject is engaged in R&D, manufacturing and selling biological
pharmaceutical intermediates (excluding items special franchised by State), fine
chemical product (excluding dangerous chemical). (With permit if needed) |
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No. of Employees : |
109 (AS OF JUN. 30, 2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
Company
name & address
ANHUI JINQUAN
BIOTECHNOLOGY CO., LTD.
Leichi industrail zone, wangjiang county,
anqing city,
anhui province, 246234 PR
CHINA
TEL: 86 (0) 556-7231508/ 7231528 FAX: 86 (0) 556-7231500
EXECUTIVE
SUMMARY
INCORPORATION DATE :
DEC. 15, 2005
REGISTRATION NO. :
340827000007380
REGISTERED LEGAL FORM :
SHARES LIMITED CO.
CHIEF EXECUTIVE :
MR. HE GUANGQUAN (CHAIRMAN)
STAFF STRENGTH :
109 (AS OF JUN. 30, 2015)
REGISTERED CAPITAL : CNY 16,000,000
BUSINESS LINE :
R&D, MANUFACTURING AND TRADING
TURNOVER :
CNY 20,935,000 (CONSOLIDATED, JAN. 1 TO JUN. 30, 2015)
EQUITIES :
CNY 19,935,000 (CONSOLIDATED, AS OF JUN. 30, 2015)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3441 = 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
Note: SC is also known as the given name “Anhui Jinquan Biological
Technology Co., Ltd.”. The given tel. number “86-576-88708517” belongs to SC’s
sales office in Taizhou, and the tel. number of SC is the above ones.
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Dec. 15, 2005 and has been under present
legal form since Nov. 27, 2014.
Company Status: Shares
limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be
domiciled in China.. Natural person are allowed to serve as promoters. The minimum registered capital
of a co. is CNY 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. The board of directors must
consist of five to nineteen directors. If the co.
raises capital by public offer, the promoters must not subscribe less than
35% of the total shares. the promoters’ shares are restricted to transfer-
within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes R&D, manufacturing and
selling biological pharmaceutical intermediates (excluding items special
franchised by State), fine chemical product (excluding dangerous
chemical). (With permit if needed)
SC is mainly engaged in R&D, manufacturing and selling biological
pharmaceutical intermediates.
Mr. He Guangquan is legal representative and chairman of SC at present.
SC is known to have approx. 109 employees as of June 30, 2015.
SC is currently operating at the above stated address, and this address houses
its operating office and factory in the industrial zone of Anqing. Our checks
reveal that SC owns the premise about 5,000 square meters.
www.jinquanpharm.com The design is professional and the content is
well organized. At present it is in Chinese and English versions.
E-mail: sales@jinquanpharm.com
See below for SC as executive party (defendant).
|
Executed Party |
SC |
|
Court |
Anhui Province Wangjiang County People's Court |
|
Date of Case |
Jan. 23, 2015 |
|
Case Number |
(2015) 00008 |
|
Claim Amount |
CNY 39,962.5 |
|
Case Status |
-- |
Remark: Due to the lack of information, we are unable to provide the
cause of action, judgment or other information.
SC was listed in National Equities Exchange and Quotations on June 10, 2015
with the stock code 832548.
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the
change |
After the change |
|
2007-6-15 |
Registered Capital |
CNY 1,000,000 |
CNY 3,300,000 |
|
2010-4-12 |
CNY 3,300,000 |
CNY 5,300,000 |
|
|
Registration No. |
3408272300184 |
Present one |
|
|
2010-8-10 |
Registered Capital |
CNY 5,300,000 |
CNY 10,000,000 |
|
2014-11-27 |
CNY 14,000,000 |
||
|
Company name |
Anqing Jinquan Pharm Co., |
Anqing Jinquan Biotechnology Co., Ltd. |
|
|
Anqing Jinquan Biotechnology Co., Ltd. |
Present one |
||
|
Legal form |
Limited liabilities |
Present one |
|
|
2015-1-12 |
Registered Capital |
CNY 14,000,000 |
Present amount |
Organization Code: 783082099
Tax No.: 340827783082099
Honors & Certificates:
“Financial and Trustworthy Enterprise ";
“Top 10 Industry Enterprises of Wangjiang County”;
“Advanced Enterprise”
“Advanced Enterprise” by Anqing City;
ISO 9001;
MAIN SHAREHOLDERS:
(AS OF JUNE 30, 2015)
Name %
of Shareholding
He Guangquan
ID# 33010319690303XXXX 61.250
Taizhou Jinda Equity Investment Management Partnership
(Limited Partnership) (Literal Translation) 12.500
Jiang Xinghai
ID# 33260219760812XXXX 8.750
Jiang Xingjin
ID# 33260219770914XXXX 8.750
Chen Weida
ID# 33262119650721XXXX 4.375
Wangjiang Zhongsheng Investment Management Center
(Limited Partnership) (Literal Translation) 4.375
Wangjiang Zhongsheng Investment Management Center (Limited Partnership)
(Literal Translation)
===================================
Incorporation Date: 2014-05-29
Registered No.: 340827000028119
Executive partner: He Guangquan
Taizhou Jinda Equity Investment Management Partnership (Limited
Partnership) (Literal Translation)
===================================
Incorporation Date: 2014- 11-27
Registered No.: 331000000071248
Legal
Representative and Chairman:
Mr. He Guangquan, ID# 33010319690303XXXX, born in 1969 with university
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 Wangjiang Zhongsheng Investment Management Center
(Limited Partnership) (Literal Translation) as executive partner;
General manager
and Director:
Mr. Jiang Xinghai, ID# 33260219760812XXXX, born in 1976. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as
general manager and director.
Also working in Jiangxi Yuanbang Pharmaceutical Co., Ltd. (Literal
Translation) as manager.
Vice-general
manager and Director:
Mr. Chen Weida, ID# 33262119650721XXXX, born in 1965. He is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as
vice-general manager and director.
Also working in Jiangxi Yuanbang Pharmaceutical Co., Ltd. (Literal
Translation) as supervisor.
Directors:
Jiang Xingjin ID#
33260219770914XXXX
Xiong Xujie
Li Mingzeng
Lu Wei
Supervisors:
Feng Yicai
Fan Zehong
Chen Xing
SC is mainly engaged in R&D, manufacturing and selling biological
pharmaceutical intermediates.
SC’s products mainly include:
Atorvastatin calcium series
CAS NO Product
name
134523-03-8 Atorvastatin
calcium
42558-54-3 Methyl
isobutyryl acetate
125971-96-2 4-Fluoro-a-[2-Methyl-1-Oxopropyl]-γ-Oxo-N,ß-Diphenyl
Benzene Butane Amide
125971-94-0 (4R,Cis)-1,1-dimethylethyl-6-cyanomethyl-2,2-dimethyl-1,3-dioxane-4-acetate
125971-95-1 (4R-cis)-1,1-dimethylethyl-6-[2-[2-(4-fluorophenyl)-5-(1-isopropyl)-3-phenyl-4-[(phenylamino)carbonyl]-1H-pyrrol-1-yl]ethyl]-2,2-dimethyl-1,3-dioxane-4-acetate
Etodolac series
CAS NO Product
name
41340-25-4 Etodolac
122188-02-7/ 200880-31-5 Etodolac
methyl ester
30414-53-0 Methyl
3-oxovalerate (Methyl 3-oxo pentanoate)
41340-36-7 7-Ethyl
tryptophol
1191-99-7 2,
3-Dihydrofuran
3-Aminopyrazine-2-carboxylic acid series
CAS NO Product
name
5424-01-1 3-Aminopyrazine-2-carboxylic
acid
16298-03-6 Methyl
3-amino-2-pyrazinecarboxylate
3, 4-(Methylenedioxy)phenylacetonitrile series
CAS NO Product
name
4439-02-5 3,
4-(Methylenedioxy)phenylacetonitrile
1484-85-1 3,
4-methylenedioxy-phenethylamin
495-76-1 Piperonyl
alcohol
20850-43-5 Piperonyl
chloride
Cimetidine series
CAS NO Product
name
51481-61-9; 2984-61-4 Cimetidine
822-36-6 4-Methylimidazole
Other intermediates
CAS NO Product
name
30414-54-1 Methyl
Butyryl Acetate
7152-15-0 EthylIsobutyl
Acetate
3249-68-1 Ethyl
butyrylacetate
87-66-1 Pyrogallol
538-75-0 N,N'-Dicyclohexylcarbodiimide
1194-65-6 2,
6-Dichlorobenzonitrile
SC sources its materials 100% from domestic market. SC sells 70% of its
products in domestic market and 30% 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.
Major Customers:
VIJAYASRI ORGANICS LIMITED (India)
Zhejiang Medicines and Health Products Import &Export Co., Ltd.
Nanjing Ocean Pharmaceutical Technology Co., Ltd.
Guangzhou Greensyn Co., Ltd.
Zhejiang Chemicals Import & Export Corporation
Major Suppliers:
Ningbo Wanglong Tech Co., Ltd.
Jiangxi Fengxin Yingxing Chemical Plant
Yangzhou Huayang Chemical Additives Co., Ltd.
Tengzhou Guoning Chemical Co., Ltd.
Jiangsu Lee & Man Chemical Ltd.
Sales Office
=========
Add: 2/F, No. 102, Lundu Road, Jiaojiang District, Taizhou City,
Zhejiang Province.
Tel: 86(0)576-88708516/88708517/88708518
Fax: 86(0)576-88708519
Subsidiary:
Jiangxi Yuanbang Pharmaceutical Co., Ltd. (Literal Translation)
============================
Incorporation Date: 2013-3-28
Registered No.: 360430210007893
Registered Capital: CNY 5,000,000
Legal Representative: Jiang Xingjin
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’s suppliers declined to make any comments.
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.
Huishang Bank Yangzijiang Sub-branch
AC#：1692001021000077062
Relationship: Normal.
Consolidated Balance Sheet
Unit: CNY’000
|
|
As of June 30, 2015 |
As of Dec. 31, 2014 |
|
Cash & bank |
934 |
8,019 |
|
Notes receivable |
135 |
0 |
|
Accounts receivable |
5,691 |
4,108 |
|
Advances to supplies |
4,576 |
3,700 |
|
Interest receivable |
0 |
0 |
|
Other accounts receivable |
819 |
817 |
|
Inventory |
9,276 |
8,482 |
|
Other current assets |
1,181 |
1,237 |
|
|
------------------ |
------------------ |
|
Current assets |
22,612 |
26,363 |
|
Financial assets available for sale |
500 |
500 |
|
Fixed assets |
14,974 |
15,674 |
|
Projects under construction |
8,066 |
6,519 |
|
Project material |
396 |
263 |
|
Intangible assets |
2,928 |
1,943 |
|
Deferred income tax assets |
9 |
11 |
|
Other non-current assets |
561 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
50,046 |
51,273 |
|
|
============= |
============= |
|
Short loans |
13,500 |
13,700 |
|
Notes payable |
536 |
4,507 |
|
Accounts payable |
10,632 |
8,391 |
|
Advances from customers |
20 |
20 |
|
Accrued payroll |
1,384 |
1,008 |
|
Taxes payable |
943 |
877 |
|
Interest payable |
41 |
0 |
|
Dividends payable |
0 |
0 |
|
Other accounts payable |
3,055 |
3,622 |
|
Other current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current liabilities |
30,111 |
32,125 |
|
Other non-current liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total liabilities |
30,111 |
32,125 |
|
Equities |
19,935 |
19,148 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
50,046 |
51,273 |
|
|
============= |
============= |
Consolidated Income Statement
Unit: CNY’000
|
|
Jan. 1 to Jun. 30, 2015 |
As of Dec. 31, 2014 |
|
Turnover |
20,935 |
43,167 |
|
Cost of goods sold |
15,731 |
34,124 |
|
Taxes and additional of main operation |
21 |
50 |
|
Sales expense |
697 |
1,148 |
|
Management expense |
3,110 |
5,962 |
|
Finance expense |
687 |
1,466 |
|
Assets impairment loss |
-16 |
-346 |
|
Income from changes in fair value |
0 |
0 |
|
Investment income |
23 |
0 |
|
Non-operating income |
200 |
110 |
|
Non-operating expense |
0 |
52 |
|
Profit before tax |
928 |
821 |
|
Less: profit tax |
139 |
222 |
|
Profits |
789 |
599 |
Important Ratios
=============
|
|
As of Jun. 30, 2015 |
As of Dec. 31, 2014 |
|
*Current ratio |
0.75 |
0.82 |
|
*Quick ratio |
0.44 |
0.56 |
|
*Liabilities to assets |
0.60 |
0.63 |
|
*Net profit margin (%) |
3.77 |
1.39 |
|
*Return on total assets (%) |
1.58 |
1.17 |
|
*Inventory /Turnover ×365 |
/ |
72 days |
|
*Accounts receivable/Turnover ×365 |
/ |
35 days |
|
*Turnover/Total assets |
0.42 |
0.84 |
|
* Cost of goods sold/Turnover |
0.75 |
0.79 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a fair level.
SC’s quick ratio is maintained in a fair level.
The inventory of SC appears average.
The accounts receivable of SC is
maintained in an average level.
The short-term loan of SC appears fairly large.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
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.
The fairly large amount of short-term loan could be a threat to SC’s financial
condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.