MIRA INFORM REPORT
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Report No. : |
339028 |
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Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
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Name : |
HEBEI SHENGXUE DACHENG
PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 50 Shengxue Road, Luancheng
County, 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 : |
30.05.1997 |
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Com. Reg. No.: |
130124000008377 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Manufacturing and Selling of Active Pharmaceutical Ingredients (APIs). |
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No. of Employees : |
1,000 |
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. 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
HEBEI SHENGXUE DACHENG PHARMACEUTICAL CO., LTD.
NO. 50 SHENGXUE ROAD, LUANCHENG
COUNTY
SHIJIAZHUANG, HEBEI PROVINCE
051430 PR CHINA
TEL: 86 (0)
311-85409124/85409207/85219660
FAX: 86 (0) 311-85409257/85219656
***Note: SC has
other factory locates in the (No. 17, Fuqiangxi Road, Luancheng County Hebei
province).
EXECUTIVE
SUMMARY
Date of Registration : MAY 30, 1997
REGISTRATION NO. : 130124000008377
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL : CNY 46,995,196
staff : 1,000
BUSINESS CATEGORY : MANUFACTURING & TRADING
REVENUE : CNY 482,576,000
(AS OF DEC. 31, 2014)
EQUITIES : CNY 281,089,000
(AS OF DEC. 31, 2014)
WEBSITE
: www.dcpharma.cn
E-MAIL : marketing@dcpharma.cn
PAYMENT : AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : stable
OPERATIONAL TREND : FAIRly steady
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.40 = USD 1
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 limited liabilities company of PRC with State Administration of Industry
& Commerce (SAIC) under registration No.: 130124000008377
on May 30, 1997.
SC’s Organization Code Certificate No.:
10471856-X
SC’s registered capital: CNY 46,995,196
SC’s paid-in capital: CNY 46,995,196
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
1999-3-14 |
Legal Representative |
Gu Yunhua |
Li Jindong |
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2001-7-29 |
Registered Capital |
CNY 7,000,000 |
CNY 13,000,000 |
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2007-2-7 |
Registered Capital |
CNY 13,000,000 |
CNY 28,460,000 |
|
-- |
Registration No. |
1301241000039 |
130124000008377 |
|
2012 |
Registered Capital |
CNY 28,460,000 |
CNY 46,995,196 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China
Nuclear Uranium Corporation |
51 |
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Zhejiang
Shenghua Biok Biology Co., Ltd. |
49 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal
Representative, Chairman, and General Manager |
Wang Jianfeng |
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Director |
Liu Tiejun |
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Li Qiang |
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|
Chen Weiqun |
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|
Zhang Wenjun |
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Supervisor |
Yang Chunfang |
|
Yuan Fang |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
China Nuclear Uranium Corporation 51
Zhejiang Shenghua Biok Biology Co., Ltd. 49
China Nuclear
Uranium Corporation
=============================
Registration No.: 100000000018485
Date of Registration: November 27, 1995
Legal Form: One-person Limited Liabilities
Company
Registered Capital: CNY 148,000,000
Legal Representative: Du Yunbin
Zhejiang Shenghua
Biok Biology Co., Ltd.
=================================
Registration No.: 330000400001808
Legal Form: Shares Limited Company
Registered Capital: CNY 405,549,248
Legal Representative: Shen Detang
Zhejiang Shenghua Biok Biology Co., Ltd. is
one of the leading manufacturers and exporter specialized in bio-agrochemicals,
medicaments for animal nutrition and health in China. BIOK is a public listed
company (code: 600226) in Shanghai Stock Exchange Market since 1999.
Add: Zhongguan Industrial Park, Deqing,
Zhejiang, 313220 China
International Trade Division:
Address: Room 904 & 906, Skyline Plaza,
181 Tianmushan Road, Hangzhou 310013, Zhejiang, China
Tel: +86 (0) 571-87788551/85528553
Fax: +86 (0) 571-87788550
Web: www.biok.com
Email: biok@biok.com
MANAGEMENT
Wang Jianfeng, Legal
Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At
present, working in SC as legal representative, chairman and general manager
Director
-----------
Liu Tiejun
Li Qiang
Chen Weiqun
Zhang Wenjun
Supervisor
--------------
Yang Chunfang
Yuan Fang
BUSINESS
OPERATION
SC’s
registered business scope includes manufacturing and selling active
pharmaceutical ingredient (API) (Terramycin, Oxytetracycline, and Streptomycin
Sulfate-production address is the heading one- No. 17 Fuqiangxi Road, Luancheng
County, Shijiazhuang, Hebei Province, the operating period is to December 31,
2015), veterinary drugs (Streptomycin Sulfate, Terramycin, and Oxytetracycline,
the operating period is to July 29, 2015), and feed additive (Vitamin I: VB2,
the operating period is to August 7, 2013); exporting its products and
technology, and importing raw materials & accessories, machinery,
components, and technology.
SC is mainly
engaged in manufacturing and selling active pharmaceutical ingredients (APIs).
SC’s products
mainly include:
Oxytetracycline
Oxytetracycline
Hydrochloride
Streptomycin
Sulphate
Colistin Sulphate
SC sources its
materials 100% from domestic market. SC sells 70% in domestic market, and 30%
to overseas market, mainly Southeast Asia, etc.
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 Customer:
=============
Laboratorios Erma
S.A.
Basicos Feed Grade
Sa De Cv
Phibro Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 1,000 staff
at present.
SC owns an area as
its operating office and factory, but the detailed information is unknown.
RELATED COMPANY
SC is known to
have a subsidiary at present,
n
Hebei Shengxue Dacheng Tangshan Pharmaceutical Co.,
Ltd.
Registration No.: 130221000010154
Date of Registration: August 26, 2002
Legal Form: One-person Limited Liabilities
Company
Registered Capital: CNY 3,000,000
Legal Representative: Liu Tiejun
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 local SAIC.
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total assets |
485,985 |
479,698 |
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------------- |
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Total liabilities |
212,702 |
198,609 |
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Equities |
273,283 |
281,089 |
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------------- |
------------- |
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Revenue |
487,915 |
482,576 |
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Profits |
4,524 |
7,806 |
Important Ratios
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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*Liabilities to assets |
0.44 |
0.41 |
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*Net profit margin (%) |
0.93 |
1.62 |
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*Return on total assets (%) |
0.93 |
1.63 |
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*Revenue/Total assets |
1.00 |
1.01 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC
appears fairly good in its lines.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
LIQUIDITY: AVERAGE
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIRLY
GOOD
l
The debt ratio of SC is low.
l
The risk for SC to go bankrupt is low.
Overall financial condition
of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
|
|
1 |
Rs.101.22 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.