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MIRA INFORM REPORT
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Report No. : |
496764 |
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Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU TOHOPE PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No. 188,
Wuyishan Road, Southeast Economic Development Zone, Changshu, Jiangsu
Province, 215533 Pr |
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Country : |
China |
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Date of Incorporation : |
31.05.2002 |
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Credibility Code: |
91320581737843061P |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject registered business scope includes manufacturing
pharmaceuticals {bulk pharmaceutical chemicals [ lipoic acid, carbamazepine,
metformin HCL, tauroursodeoxycholic acid, antineoplastic drug
(capecitabine)]}; manufacturing health food tablet; manufacturing and
processing (sub-packaging) with soy lecithin particles, protein powder,
collagen and soluble dietary fiber (excluding confined items); selling
self-made commodities; engaged in importing and exporting of goods and
technology, but excluding the goods and technology limited or prohibited by
state. (With permit if needed) |
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No. of Employees : |
163 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early 2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.
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Source
: CIA |
Company
Name And Address
JIANGSU
TOHOPE PHARMACEUTICAL CO., LTD.
NO.
188, WUYISHAN ROAD, SOUTHEAST ECONOMIC DEVELOPMENT ZONE, CHANGSHU, JIANGSU PROVINCE,
215533 PR CHINA
TEL: 86
(0) 512-52300550/52300501/52300510 FAX:
86 (0) 512-52300500
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAY 31, 2002
Credibility Code : 91320581737843061P
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : 163
REGISTERED CAPITAL :
CNY 14,286,533.49
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : SLOW BUT CORRECT
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
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: The correct company
address should be the heading one instead of the given one.
SC was registered as a
Chinese-foreign equity joint venture enterprise at local Administration for
Industry & Commerce (AIC - The official body of issuing and renewing
business license) on May 31, 2002, and changed into One-person limited
liability company on June 29, 2015.
Company Status: One-person Limited Liability Company Single
person LLC refers to a limited liability company set up by only one natural
person or legal person as the single shareholder of it. The
minimum registered capital of Single person LLC is CNY100,000. The
shareholder’s capital contributes, as set out by the articles of associations
should be a lump-sum payment in full. One
natural person can only invest in and set up one limited liability company,
which is not permitted to invest in and set up a new Single person LLC. As
to any one-person limited liability company, the sole-investor nature of
the natural person or legal person shall be indicated in the registration
documents of the company and shall be indicated in the business license
thereof as well. The
regulation of Single person LLC should be set up by the shareholder The
regulation of Single person LLC has no shareholder meeting.
SC’s registered business scope includes manufacturing
pharmaceuticals {bulk pharmaceutical chemicals [ lipoic acid, carbamazepine, metformin
HCL, tauroursodeoxycholic acid, antineoplastic drug (capecitabine)]};
manufacturing health food tablet; manufacturing and processing (sub-packaging)
with soy lecithin particles, protein powder, collagen and soluble dietary fiber
(excluding confined items); selling self-made commodities; engaged in importing
and exporting of goods and technology, but excluding the goods and technology
limited or prohibited by state. (With permit if needed)
SC is
mainly engaged in manufacturing and selling pharmaceuticals.
Mr. Zou Zhenrong is
legal representative, chairman and general manager of SC at present.
SC is
known to have approx. 163 employees at present.
SC is currently operating at the above stated address, and
this address houses its operating office and factory in the development zone of
Changshu. Detailed premise information is not available at present.
http://www.tohopepharma.com/ The web-site is
not working at present.
E-mail: zjkyes@126.com
Changes of its registered information are as follows:
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Date
of change |
Item |
Before
the change |
After
the change |
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Unknown |
Registered capital |
USD 6,264,000 |
USD 1,764,000 |
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2015-06 -29 |
Registered capital |
USD 1,764,000 |
Present amount |
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Legal form |
Chinese-foreign equity joint venture enterprise |
Present one |
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Shareholder and shareholdings |
Jiangsu Wanxing Venture Investment Co., Ltd. (in Chinese
Pinyin) 74.45%; Hong Kong Wan Xing Trading Investment Limited 25.55% |
Present one |
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Unknown |
Registration no. |
320581400007806 |
(Credibility code) 91320581737843061P |
Import/ Export License: 3200737843061
SC has got the Certificate of High and New Technology
Enterprise.
MAIN SHAREHOLDERS:
Name
% of Shareholding
Jiangsu Wanxing Venture
Investment Co., Ltd. (in Chinese Pinyin) 100
Incorporation Date: 2007-11-12
Credibility code:
91320592MA1MABPJ8C
Registered Capital: CNY
55,000,000
Legal Representative: Zou
Zhenrong
l Legal
Representative, Chairman and General Manager:
Mr. Zou Zhenrong , ID# 32052019600408XXXX, born
in 1960. He is currently responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as
legal representative, chairman and general manager.
Also working in Jiangsu Wanxing Venture Investment Co., Ltd. (in
Chinese Pinyin) in Changshu Wanxing Chemical Co., Ltd. as legal representative,
etc.
l Directors:
Yin Yifeng
Qian Zhenqing
Shi Dongming
Zhu Jiankang
l Supervisor:
Tan Zhongbao
SC is
mainly engaged in manufacturing and selling pharmaceuticals.
SC’s products mainly include pharmaceutical raw materials,
preparation medicine, health food, etc.
SC sources
its materials 100% from domestic market. SC sells 10% in domestic market and
90% 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.
Note: SC declined to release its major suppliers and clients.
TRADEMARKS & PATENTS
Registration No. 6720624
Registration Date July 28, 2010
Trademark Design 
Registration No. 4286193
Registration Date Feb. 21, 2008
Trademark Design 
Registration No. 5864312
Registration Date Jan. 14, 2010
Trademark Design 
Registration No. 7669331
Registration Date July 14, 2011
Trademark Design 
Etc.
Industry code: 2700
Industry name: Pharmaceutical manufacturing industry
The
gross domestic product of China in 2016 which is 74,412.72 billion that is
increased 6.7% than previous year.
With the rapid growth of economy
and population aging, Chinese pharmaceutical industry has maintained rapid
growth in recent years. The business income of pharmaceutical manufacturing
industry was increased from 159.433 billion Yuan in 2000 to 2,553.71 billion
Yuan in 2015; compound annual growth rate was 20.31%. The total profit was
262.73 billion Yuan in 2015, increased by 12.09 year-on-year. The business
income and profits are maintained two - digit growth, but in recent years, the
growth rate has become a downward trend. At present, Chinese pharmaceutical
industry is still in the growth stage, it still has a larger growth in the
future.
Changshu Wanxing Chemical Co., Ltd.
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Incorporation Date: 1994-09-26
Credibility Code:
913205816082507969
Registered Capital: CNY 21,800,000
Legal Representative: Zou Zhenrong
Subsidiary:
Jiangsu Dexi Bio-Technology Co., Ltd. (in Chinese Pinyin)
====================================
Incorporation Date: 2017-02-06
Credibility Code:
91320581MA1NCEH87N
Registered Capital: CNY 1,000,000
Legal Representative: Zou Zhenrong
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 records 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.
Agricultural
Bank of China Changshu City Guli Sub-branch
AC#
10520701040002887
Relationship:
Normal.
SC’s management declined to release its financial details.
SC is considered medium-sized in its line with a development
history of 16 years. Due to lack of financial statements, we are unable to
determine the maximum credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.02 |
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1 |
INR 90.12 |
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Euro |
1 |
INR 80.91 |
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CNY |
1 |
INR 10.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.