MIRA INFORM REPORT
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Report No. : |
346708 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
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Name : |
cspc innovation
pharmaceutical co., ltd. |
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Registered Office : |
No. 36, Fuqiang West Road, Luancheng District, Shijiazhuang, Hebei Province,
051430 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
05.04.2006 |
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Com. Reg. No.: |
130100000144986 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Manufacturing and selling crude drug (caffeine, theophylline,
aminophylline, dyphylline, theobromine, pentoxifylline, doxofylline) and
psychotropic substances (caffeine). (valid period as of Dec. 31, 2015);
manufacturing and selling food additives (caffeine) (valid period as o Feb.
25, 2017); selling pharmaceutical intermediates; exporting its products &
technology and importing materials, instruments, machinery & equipments,
parts and technology needed for its production, excluding the goods and
technology limited and forbidden by the state. (the items prohibited or
limited by laws, regulations and the State Council decisions; the items
approved by other departments, with permit if needed) |
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No. of Employees : |
500 |
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 : |
-- |
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) |
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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.
|
Source
: CIA |
Company
Name & address
cspc innovation pharmaceutical co., ltd.
no. 36, fuqiang west road, luancheng DISTRICT,
shijiazhuang, hebei PROVINCE, 051430 PR CHINA
TEL: 86 (0) 311-85408721/85965150 FAX: 86 (0) 311-85409463
EXECUTIVE
SUMMARY
INCORPORATION DATE : apr. 5, 2006
REGISTRATION NO. : 130100000144986
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
MR. wang huaiyu (CHAIRMAN)
STAFF STRENGTH :
500
REGISTERED CAPITAL : CNY 150,000,000
BUSINESS LINE :
manufacturing & selling
TURNOVER :
CNY 478,510,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 403,480,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly good
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.3502 = 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 company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on April 5, 2006, and changed into present legal form since July, 2008.
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 The minimum registered capital
of a co. is CNY 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 manufacturing and selling crude
drug (caffeine, theophylline, aminophylline, dyphylline, theobromine,
pentoxifylline, doxofylline) and psychotropic substances (caffeine). (valid
period as of Dec. 31, 2015); manufacturing and selling food additives
(caffeine) (valid period as o Feb. 25, 2017); selling pharmaceutical
intermediates; exporting its products & technology and importing materials,
instruments, machinery & equipments, parts and technology needed for its
production, excluding the goods and technology limited and forbidden by the
state. (the items prohibited or limited by laws, regulations and the State
Council decisions; the items approved by other departments, with permit if
needed)
SC is mainly engaged in manufacturing and selling crude drug, and
psychotropic substances.
Mr. Wang Huaiyu has been legal representative and chairman of SC since
2010.
SC is known to have approx. 500 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Shijiazhuang.
Our checks reveal that SC owns the total premise about 20,000 square meters.
http://www.e-cspc.com
The website belongs to CSPC. The design is professional and the content is well
organized. At present the web site is in Chinese and English versions.
E-mail: xinnuowei@mail.ecspc.com
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2007 |
Registered capital |
CNY 26,300,000 |
CNY 100,000,000 |
|
2008-7 |
Registered Legal Form |
Limited liabilities company |
Present one |
|
Company Name |
Shijiazhuang Pharmaceutical Innovation Co.,
Ltd. |
CSPC Innovation Pharmaceutical Co., Ltd. |
|
|
Registered Capital |
CNY 100,000,000 |
Present amount |
|
|
Shareholders |
Shijiazhuang Pharmaceutical Group Co., Ltd. 95% Shijiazhuang Pharmaceutical Group Import and Export Trade Co., Ltd. 5% |
China Shijiazhuang Pharmaceutical Group Co., Ltd. 98.69% CSPC Import and Export Trade Co., Ltd. 1.31% |
|
|
Legal Representative |
Yue Jin |
Pan Weidong |
|
|
Unknown |
Registration No. |
1301001005042 |
Present one |
|
2010 |
Legal Representative |
Pan Weidong |
Present one |
|
Unknown |
Shareholders and shareholding |
China Shijiazhuang Pharmaceutical Group Co., Ltd. 98.69% CSPC Import and Export Trade Co., Ltd. 1.31% |
Present ones |
Organization code: 787019708
See below for SC as executive party (defendant).
|
Executed Party |
SC |
|
Court |
Shijiazhuang City Luancheng District People's Court |
|
Date of Case |
2015-3-24 |
|
Case Number |
(2015) 00119 |
|
Claim Amount |
RMB 0 |
|
Case Status |
N/A |
Remark: Due to the lack of information, we are
unable to provide the cause of action, judgment or other information.
MAIN SHAREHOLDERS:
Name Amount
(CNY) % of Shareholding
CSPC NBP Pharmaceutical Co., Ltd. 148,035,000 98.69
Hebei Zhongchengxin Guarantee Co., Ltd. 1,965,000 1.31
CSPC NBP Pharmaceutical Co., Ltd.
============================
CSPC NBP Pharmaceutical Co., Ltd. is mainly engaged in researching and
manufacturing nervous system drugs.
Registered No.: 130100400004658
Legal Representative: Wang Zhenguo
Registered Capital: CNY 380,000,000
Incorporation Date: 2003-4-23
Tel.: 86 0311-83092888
Fax: 86 0311-83092777
Website: http://www.nbp.com.cn/
E-mail: cspcnbp@mail.ecspc.com
Hebei Zhongchengxin Guarantee Co., Ltd.
===============================
Registered No.: 130100400005048
Legal Representative: Hu Bin
Registered Capital: CNY 100,000,000
Incorporation Date: 2005-12-20
Legal Representative and Chairman:
Mr. Wang Huaiyu, born in 1963, with Master’s degree, he is currently responsible
for the overall management of SC.
Working Experience(s):
From 2010 to present Working
in SC as legal representative and chairman.
From 2006 to 2010 Worked in SC as general manager.
Also working in CSPC Zhongnuo Pharmaceutical (Shijiazhuang) Co., Ltd. as
legal representative, CSPC Pharmaceutical Group Limited (Hong Kong) as
executive director.
General Manager:
Ms. Tian Yumiao is currently responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as general manager.
Directors:
Pan Weidong
Liu Jian
Lu Hua
Supervisors:
Chen Meng
Gui Shengguang
Du Wenxue
SC is mainly engaged in manufacturing and selling crude drug, and
psychotropic substances.
SC’s products mainly include: caffeine, theophylline, aminophylline,
diprophylline and theobromine.
SC sources its materials 100% from domestic market, mainly from Hebei.
SC sells 20% of its products in domestic market, and 80% to overseas market,
mainly to Southeast Asia and Europe.
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.
Trademark & Patents
No record
Note: SC’s management declined to release its customer and supplier
details.
According to the website: http://www.e-cspc.com
CSPC Zhongnuo Pharmaceutical (Shijiazhuang) Co., Ltd.
=============================================
Incorporation Date : Dec.
12, 1997
Registration No. :
130000400000280
Registered Legal Form : Chinese-Foreign Equity Joint Venture
Enterprise
Legal Rep. :
Wang Huaiyu
Registered Capital : CNY
906,300,300
Tel: 86 (0) 311-88622795/88622756/67809666
Fax: 86 (0) 311-86827629
Web: http://www.cspczhongnuo.com/
Email: znbgs@mail.ecspc.com
CSPC Zhongqi Pharmaceutical Technology (Shijiazhuang) Co., Ltd.
====================================================
Incorporation Date :
2003-4-25
Legal Rep. :
Wang Jinxu
Tel: 0311-67808888
E-mail: zhongqi@e-cspc.com
CSPC Ouyi Pharmaceutical Co., Ltd.
============================
Incorporation Date :
Mar. 29, 2001
Registration No. : 130100000073748
Registered Legal Form : One-Person Limited Liability Company
Legal Rep. :
Lu Jianmin
Registered Capital :
CNY 150,000,000
Tel: +86-311-87896753
Fax: +86-311-87893974
E-mail: steven@ouyipharma.com
CSPC Weisheng Pharmaceutical (Shijiazhuang) Co., Ltd.
=======================================
Incorporation Date :
April 7, 1995
Registration No. :
130000400001782
Registered Legal Form : Wholly Foreign-Owned Enterprise
Legal Rep. :
Cai Dongchen
Registered Capital :
USC 27,345,500
Tel: +86- 311-85962774/85966161
Fax: +86-311- 85388536
E-mail: wangxb@mail.ecspc.com
CSPC Pharmaceutical Group Limited (Hong Kong)
====================================
Registered number: 0362244
Incorporated date: Jun. 16, 1992
Legal form: Public company limited by shares
Tel: (852) 2802 3011
Fax: (852) 2802 4552
Web: http://www.irasia.com/listco/hk/cspc/
E-mail: info@cpg.hk
The company is listed in Hong Kong Stock Exchange with code 01093.HK
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.
China Construction Bank Shijiazhuang Branch
AC#: 3001611808050502183
Bank of China Shijiazhuang Huanghe Avenue Sub-branch
AC#: N/A
Relationship: Normal.
Balance Sheet
Unit: CNY’000
|
|
as of Dec. 31, 2014 |
|
Cash & bank |
124,360 |
|
Notes receivable |
6,640 |
|
Inventory |
70,530 |
|
Accounts receivable |
113,940 |
|
Advances to suppliers |
27,250 |
|
Other receivables |
3,850 |
|
Other current assets |
0 |
|
|
------------------ |
|
Current assets |
346,570 |
|
Long-term investments |
0 |
|
Fixed assets net value |
228,760 |
|
Projects under construction |
9,480 |
|
Intangible assets |
23,110 |
|
Other assets |
0 |
|
|
------------------ |
|
Total assets |
607,920 |
|
|
============= |
|
Short loans |
0 |
|
Accounts payable |
94,200 |
|
Advances from customers |
6,470 |
|
Accrued payroll |
-850 |
|
Taxes payable |
1,720 |
|
Other accounts payable |
102,080 |
|
Other current liabilities |
0 |
|
|
----------------- |
|
Current liabilities |
203,620 |
|
Long term liabilities |
820 |
|
|
------------------ |
|
Total liabilities |
204,440 |
|
Shareholders equities |
403,480 |
|
|
------------------ |
|
Total liabilities & equities |
607,920 |
|
|
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31, 2014 |
|
Turnover |
478,510 |
|
Cost of goods sold |
347,250 |
|
Taxes and additional of main operation |
4,790 |
|
Income from other operation |
1,950 |
|
Sales expense |
10,820 |
|
Management expense |
28,220 |
|
Finance expense |
2,010 |
|
Non-operating income |
420 |
|
Non-operating expense |
150 |
|
Profit before tax |
87,640 |
|
Less: profit tax |
18,980 |
|
Net profit |
68,660 |
Important Ratios
=============
|
|
As of Dec. 31, 2014 |
|
*Current ratio |
1.70 |
|
*Quick ratio |
1.36 |
|
*Liabilities to assets |
0.34 |
|
*Net profit margin (%) |
14.35 |
|
*Return on total assets (%) |
11.29 |
|
*Inventory /Turnover ×365 |
54 days |
|
*Accounts receivable/Turnover ×365 |
87 days |
|
*Turnover/Total assets |
0.79 |
|
* Cost of goods sold/Turnover |
0.73 |
PROFITABILITY:
GOOD
The turnover of SC appears fairly good in its line.
SC’s net profit margin is good.
SC’s return on total assets is good.
SC’s cost of goods sold is average, comparing with its turnover.
LIQUIDITY: AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s quick ratio is maintained in a normal level.
The inventory of SC is maintained in an average level.
The accounts receivable of SC is maintained in an average level.
SC has no short-term loan in 2014.
SC’s turnover is in a fair level, comparing with the size of its total
assets.
LEVERAGE: FAIRLY
GOOD
The debt ratio of SC is low.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly Good.
SC is considered medium-sized in its line with fairly good financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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|
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.