MIRA INFORM REPORT

 

 

Report No. :

508786

Report Date :

15.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

WEIHAI DISU PHARMACEUTICAL CO,. LTD.

 

 

Registered Office :

No. 268 Tianrun Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

 

 

Country :

China

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

13.05.2005

 

 

Unified Social Credit Code :

91371000774197249X

 

 

Legal Form :

Limited Liabilities Company

 

 

Line of Business :

Subject is mainly engaged in manufacture and sales of chemical drug raw materials. It has more than 50 kinds of products, including loxoprofen sodium, candesartan cilexetil, flavoxate hydrochloride, levamlodipine besylate, glipizide.

 

 

No. of Employees :

5,000

 


 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

China

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 


INVESTIGATION RECORD

 

Name of Interviewee

Ms. Yin Xiangrong

Tel

(86 631) 3857771/3857101

Investigation Way

Telephone

 

 

ORDER DETAILS & INVESTIGATION RESULTS

 

-

Order Information

Verification

Name(English)

Weihai Disu Pharmaceutical Co., Ltd

Correct

Address (English)

No 55, Way of Qilu Road, Weihai Economic & Techological Development Zone Shandong, P.R.

One of subject's factory addresses

 

 

ABSTRACT

 

BASIC INFORMATION

 

Name (English)

WEIHAI DISU PHARMACEUTICAL CO,. LTD. (Given by Official Sources)

Unified Social Credit Code

91371000774197249X

AIC registration No.

370000400004172

National Organization Code

774197249

Company Status

Operational

Executive

Zhang Baojun

Registered Capital

CNY 90,000,000.00

Date of Establishment

2005-05-13

Employee

5,000

Company Size

Large

SIC (China)

2710,Production of Original Medicine of Chemical Drugs

Import and Export Enterprise Code

3700774197249

Import/Export Permit

Yes

 

CONTACTS

 

Tel

(86 631)3857771/3857101

Address

No. 268 Tianrun Road, Wendeng Economic Development Zone, Weihai City, Shandong Province(Office; Plant; Storage)

Address Post code

264200

Ownership

Owned

 

GENERAL COMMENTS

 

RISK ANALYSIS

Established in May 2005 with the registered capital of CNY 90,000,000.00, subject is mainly engaged in manufacture and sales of chemical drug raw materials. With long history, the company has accumulated rich industry experience. Currently, with large business scale, it enjoys high popularity and influence in the industry.

According to subject's current financial information, its operating income of 2017 increases over that of 2016, indicating its business was developed well in 2017. High profit indices of 2017 reflect the company’s profitability is good. With low turnover of total assets and turnover of current assets in 2017, SC has poor operation capability. As a whole, with low liabilities to assets ratio of 2017, subject’s long-term solvency is good. According to subject's current ratio and quick ratio in 2017, its short-term solvency is poor.

 

 

REGISTRATION INFORMATION

 

REGISTRATION INFORMATION

 

Unified Social Credit Code

91371000774197249X

AIC registration No.

370000400004172

Date of Establishment

2005-05-13

Registered Address

No. 268 Tianrun Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

Registry

Market Supervision Administration – Wendeng Dist, Weihai City

Legal Representative

Zhang Baojun

Legal Form

Limited Liabilities Company

Registered Capital

CNY 90,000,000.00

Latest Year of Annual Report

2016

Operation duration

Perpertual

Business Scope

Development, production and sales of API;

Development, production and sales of non-sterile API;

Production, sales and research and development of new materials for marine life;

Import and export of goods and technology;

Research and development and transfer, consulting services of medical technology;

Research, development and transfer of natural substances extraction, separation and purification technology;

Extraction and sales of natural products from plants and ores;

Production and sales of fine chemical products;

Export business of API and fine chemical products;

Production and sales of clothing, textiles, general merchandise, stationery, food and food additives;

Sales of health products, cosmetics, hygiene products, kitchen utensils, household appliances, cleaning products and health care equipment.

 

REGISTRATION CHANGES

 

-

Date

Item Changed

From

To

1

2017-07-17

Registered capital

CNY10,000,000.00

CNY90,000,000.00

2

2016-12-07

Registered address

East of Andong Road, South of Guangzhou East Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

No. 268 Tianrun Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

3

2016-11-04

Registered address

West of Wuzhu River, East of 3# Road, North of 19# Road, South of 18# Road, Gushan Town, Weihai Economic Development Zone

East of Andong Road, South of Guangzhou East Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

4

2013-02-01

Registered capital

CNY1,360,000.00

CNY10,000,000.00

5

2011-05-04

Registered address

No. -55-5 Qilu Avenue, Economic and Technological Development Zone, Weihai City

West of Wuzhu River, East of 3# Road, North of 19# Road, South of 18# Road, Gushan Town, Weihai Economic Development Zone

6

2011-02-18

Registered address

No. -196 Keji Road, Weihai Torch High Technology Industrial Development Zone

No. -55-5 Qilu Avenue, Economic and Technological Development Zone, Weihai City

7

2007-07-09

Registered capital

CNY1,000,000.00

CNY1,360,000.00

8

2006-04-20

Registered address

No. -196 Keji Road, High Technology Industrial Development Zone, Weihai City

No. -196 Keji Road, Weihai Torch High Technology Industrial Development Zone

 

SHAREHOLDER INFORMATION

 

-

Name

% Ownership

Capital Contributed

Currency

Investment Way

Paid-in %

Country

1

DISHA PHARMACEUTICAL GROUP SHANDONG DISHA MEDICINE MARKETING COMPANY

100.00

90,000,000.00

CNY

-

-

China

Total

 

100.0

90,000,000

 

 

 

 

 

ENTITY SHAREHOLDER

 

Name (English)

DISHA PHARMACEUTICAL GROUP SHANDONG DISHA MEDICINE MARKETING COMPANY

Country

China

Legal Representative

Liu Xinbo

Registration No.

370611228008609

Unified Social Credit Code

91371081755404361M

Date of Establishment

2003-09-30

Legal Form

Limited Liabilities Company

Registered Capital

CNY 97,353,008.00

Status

Operational

Registered Address

No. 69 Guangzhou East Road, Wendeng Economic Development Zone, Weihai City, Shandong Province

 

ULTIMATE HOLDING

 

-

Ultimate Shareholder

Investment Way

1

Wang Dejun

-

 

 

English Name

Wang Dejun

Country

China

Type

Natural person shareholder

Note

Wang Dejun

--67.83% Weihai Disha Investment Co., Ltd.

--99.17% DISHA PHARMACEUTICAL GROUP CO.,LTD.

--89.73% DISHA PHARMACEUTICAL GROUP SHANDONG DISHA MEDICINE MARKETING COMPANY

--100.00% WEIHAI DISU PHARMACEUTICAL CO,. LTD.

 

BRANCHES

No branch information of subject is searched out from database.

 

INVESTMENT IN OTHER COMPANIES

 

-

Name

License Status

Share Holding

Currency

% Ownership

1

Tianjin Disha Pharmaceutical Technology Development Co., Ltd.

Operational

20,000,000.00

CNY

100.00%

 

Name (English)

Tianjin Disha Pharmaceutical Technology Development Co., Ltd.

Unified Social Credit Code

91120116MA06BDKA7F

License Status

Operational

Registration No.

120116000697646

Name Of Legal Representative

Bian Jianhua

Legal Form

Limited Liabilities Company

Country

China

Registered Capital

CNY 20,000,000.00

Type

Subsidiary

Date of Establishment

2018-04-17

Share Holding

20,000,000.00

Currency

CNY

% Ownership

100.00%

 

 

MANAGEMENT

 

LEGAL REPRESENTATIVE

 

Name

Zhang Baojun

Position

Chairman

 

INVOLVEMENT IN OTHER COMPANIES

 

-

Name (English)

License Status

Legal Representative

Position

Type of Engagement

1

HEBI FEIHE SHARE CO.,LTD.

Operational

NO

Director

Investment(0.13%)

2

Weihai Dijia Group Co., Ltd.

Operational

NO

General Manager

Directorship

3

Weihai Aonisite Environmental Protection Technology Co., Ltd.

Operational

YES

Executive director

Directorship

 

Name (English)

HEBI FEIHE SHARE CO.,LTD.

License Status

Operational

Name Of Legal Representative

Jia Shenju

Registered Capital

CNY 127,346,510.00

Country

China

Registration No.

410600100001932

Unified Social Credit Code

914106001726317578

Legal Form

Shares Limited Company (Unlisted)

Share Holding

169,680.00

Currency Of Share Holding

CNY

Way of Investment

Capital

% Ownership

0.13

Position

Director

Date of Establishment

1996-11-18

 

Name (English)

Weihai Dijia Group Co., Ltd.

License Status

Operational

Name Of Legal Representative

Wang Linjia

Registered Capital

CNY 100,000,000.00

Country

China

Registration No.

371081200016346

Unified Social Credit Code

91371081062986928J

Legal Form

Limited Liabilities Company

Position

General Manager

Date of Establishment

2013-03-07

 

Name (English)

Weihai Aonisite Environmental Protection Technology Co., Ltd.

License Status

Operational

Name Of Legal Representative

Zhang Baojun

Registered Capital

CNY 10,000,000.00

Country

China

Registration No.

371081200035164

Unified Social Credit Code

91371081334416647M

Legal Form

Limited Liabilities Company

Position

Executive director

Date of Establishment

2015-04-16

 

MANAGEMENT

 

-

Name

Position

Gender

1

Zhang Mingtao

General Manager

-

2

Zhang Baojun

Chairman

-

 

DIRECTORS AND SUPERVISORS

 

-

Name

Position

Gender

1

Zhang Baojun

Chairman

-

2

Liu Bingpeng

Director

-

3

Wang Dejun

Director

-

4

Dong Haijing

Supervisor

-

 

 

JUDICIAL INFORMATION

 

DEFAULT EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

D. Judicial information of database.

SUBJECT AS EXECUTED PARTY

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

D. Judicial information of database.

CIVIL & COMMERCIAL TRIAL PROCESS

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

D. Judicial information of database.

CIVIL & COMMERCIAL JUDGMENT DOCUMENT

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

D. Judicial information of database.

ADMINISTRATIVE ILLEGAL RECORDS

As of the reporting date, no related record about subject is found through below sources:

A. Website of China Court Organization;

B. Websites of local courts of subject's location;

C. Websites of major domestic courts;

D. Judicial information of database.

 

 

OPERATION INFORMATION

 

MAIN BUSINESS

 

Main Business

Manufacture and sales of chemical drug raw materials

Products & Service

SC is mainly engaged in manufacture and sales of chemical drug raw materials. It has more than 50 kinds of products, including loxoprofen sodium, candesartan cilexetil, flavoxate hydrochloride, levamlodipine besylate, glipizide, etc.

Production Information

SC can process 2 billions tons of APIs and intermediates per year.

 

OPERATION FACILITIES

 

Business Address

No. 268 Tianrun Road, Wendeng Economic Development Zone, Weihai City, Shandong Province(Office; Plant; Storage)

Tel

(86 631)3857771/3857101

Post code

264200

Environment

Major industrial areas

Land Area

180 Mu

Ownership

Owned

Traffic Condition

Convenient

 

Business Address

No. 55 Qilu Avenue, Economic and Technological Development Zone, Weihai City, Shandong Province(Office; Plant; Storage)

Post code

264205

Environment

Major industrial areas

Ownership

Unknown

Traffic Condition

Convenient

 

SALES INFORMATION

 

Region

Products

Customer Type

Number of Customers

Payment Terms

Region

Percentage

Domestic

Chemical APIs

Pharmaceutical manufacturers, traders, etc

Over 20

Prompt payment, advance payment, payment by contract, etc.

All over China

80

International

Chemical APIs

Pharmaceutical manufacturers, traders, etc

Over 10

L/C, T/T, etc.

South Korea, Japan, India, Taiwan, Bangladesh, etc.

20

OTHER INFORMATION

SC's products are sold at home and abroad, mainly in domestic market. The exporting areas are South Korea, Japan, India, Taiwan, Bangladesh, etc. The products are sold directly or on commission. With years of operation, subject has established stable sales channels.

 

PURCHASE INFORMATION

 

Region

Main Products Purchased

Number of Suppliers

Payment Terms

Region

Percentage

Domestic

Production equipment, environmental protection equipment, testing device, chemical raw materials, office supplies, etc.

Over 20

Prompt payment, advance payment, payment by contract, etc.

All over China

90

International

Production equipment, chemical raw materials, etc.

Over 5

L/C, T/T, etc.

India and other countries and regions

10

OTHER INFORMATION

SC's purchasing business is carried out at home and abroad, mainly in domestic market. The importing areas are India and other countries and regions. With years of operation, subject has established stable purchasing channels.

 

NOTE TO CREDIT RECORD

 

Note

Subject’s staff was cautious and refused to disclose the suppliers’ names and purchasing information of the company due to business secrecy. The suppliers’ names are unavailable through public channels. Hence no payment records of subject can be provided in the report.

 

ELECTRICITY CONSUMPTION RECORD

No electricity consumption record of subject can be obtained as the electricity consumer may not be filed with subject's name.  

 

 

QUALIFICATIONS & TRENDS

 

PATENT

 

-

Patent Name

Patent Type

Status

Application No.

Application date

Classification

Publication No.

1

A recombinant Escherichia coli and a method for conversion to produce 5- methyl pyrazine -2- carboxylic acid

Invention

Published

CN201711325652.2

2017-12-13

C12N1/21(2006.01)I; C12N15/70(2006.01)I; C12P17/10(2006.01)I; C12R1/19(2006.01)N

CN107974428A

2

A preparation method of 5 carboxyl methyl pyrazine 2 carboxylic acid

Invention

Published

CN201710903442.0

2017-09-29

C12P17/12(2006.01)I; C12R1/06(2006.01)N

CN107541532A

3

A preparation method of glipizide

Invention

Published

CN201710842829.X

2017-09-18

A61K9/20(2006.01)I; A61K31/426(2006.01)I; A61K47/40(2006.01)I; A61P19/06(2006.01)I

CN107468661A

4

A preparation method of glipizide

Invention

Published

CN201710811375.X

2017-09-11

C07D241/24(2006.01)I

CN107434788A

5

A preparation method of the substance F of Da La non

Invention

Published

CN201710735616.7

2017-08-24

C07D498/20(2006.01)I

CN107698606A

6

A preparation method of omeprazole

Invention

Published

CN201710608783.5

2017-07-25

C07D401/04(2006.01)I

CN107382963A

7

A kind of fat - lowering health food

Invention

Published

CN201710585584.7

2017-07-18

A23L33/125(2016.01)I; A23L33/15(2016.01)I; A23L33/24(2016.01)I

CN107296281A

8

A preparation method of alimine alpha crystal

Invention

Published

CN201710548726.2

2017-07-07

C07D401/12(2006.01)I

CN107188885A

9

The preparation method of the coupling impurity of piperyl hydrochloride

Invention

Published

CN201710516984.2

2017-06-29

C07D311/28(2006.01)I

CN107118191A

10

A preparation method of the open loop impurity of the sodium in the sodium lock

Invention

Published

CN201710441698.4

2017-06-13

C07C51/16(2006.01)I; C07C51/285(2006.01)I; C07C59/84(2006.01)I

CN107353195A

11

A preparation method of montelukast sodium impurity D

Invention

Published

CN201710308464.2

2017-05-04

C07D215/18(2006.01)I

CN106928138A

12

A preparation method of two benzylamine hydrochloride

Invention

Published

CN201710225957.X

2017-04-08

C07C209/62(2006.01)I; C07C211/27(2006.01)I; C07C231/12(2006.01)I; C07C233/03(2006.01)I

CN107089918A

13

A crystallization method for preparation of high stacking density glipizide

Invention

Approval Valid

CN201710168249.7

2017-03-21

C07D241/24(2006.01)I

CN106977466A

14

A preparation method of high purity glipizide crystal I

Invention authorization

Published

CN201710163744.9

2017-03-20

C07D241/24(2006.01)I

CN106866552B

15

A preparation method for the crystallization of candesartan ester

Invention

Published

CN201710145305.5

2017-03-13

C07D403/10(2006.01)I

CN106977496A

16

Preparation of high purity candesartan crystal I

Invention

Published

CN201710088154.4

2017-02-20

C07D403/10(2006.01)I; A61K31/4184(2006.01)I; A61P9/12(2006.01)I

CN106866633A

17

Preparation of acetamiprid intermediate acetamiprid

Invention

Published

CN201611142216.7

2016-12-13

C07D205/04(2006.01)I

CN106588736A

18

Method for preparing donepezil hydrochloride related substance E

Invention

Published

CN201611056290.7

2016-11-26

C07D211/32(2006.01)I

CN106631989A

19

Determination of R purity of gliclazide succinate

Invention

Published

CN201611003141.4

2016-11-15

G01N30/74(2006.01)I; G01N30/06(2006.01)I; G01N30/86(2006.01)I

CN106526047A

20

A preparation method of glipizide impurity I

Invention

Approval Valid

CN201610973571.2

2016-11-07

C07C303/40(2006.01)I; C07C311/64(2006.01)I

CN106543042A

Note: Maximum 20 records are showed for the client’s reference.

 

EXPORT/IMPORT PERMIT

 

EXPORT/IMPORT PERMIT

Yes

 

IMPORT / EXPORT DETAILS

 

2016 Import / Export Volume (USD 1,000)

Import Volume

Export Volume

-

3,789.00

 

 

2016 Importing Regions (USD 1,000)

Importing Regions

Import Volume

India

210

 

2016 Exporting Regions (USD 1,000)

Exporting Regions

Export Volume

Korea

2,562

Japan

1,122

India

84

Taiwan

10

Bangladesh

7

Other

4

expcon_pic

 

2016 Imported Products (USD 1,000)

Imported Products

Import Volume

Other

210

 

2016 Exported Products (USD 1,000)

Exported Products

Export Volume

Other

564

Other

293

Carboxylic acids with aldehyde or ketone function but without other oxygen function, their anhydrides, halides, peroxides, peroxyacids and their derivatives

2,206

Other heterocyclic compounds with oxygen heteroatom (s) only

237

Other

327

Etheralcohols and their derivatives

162

expcon_pic

 

2015 Import / Export Volume (USD 1,000)

Import Volume

Export Volume

163.00

1,902.00

 

 

2015 Importing Regions (USD 1,000)

Importing Regions

Import Volume

India

164

 

2015 Exporting Regions (USD 1,000)

Exporting Regions

Export Volume

India

8

Other

15

Korea

1,328

Japan

503

Lebanon

25

Pakistan

23

expcon_pic

 

2015 Imported Products (USD 1,000)

Imported Products

Import Volume

Other

163

Other

0

Other

0

 

2015 Exported Products (USD 1,000)

Exported Products

Export Volume

Carboxylic acids with aldehyde or ketone function but without other oxygen function, their anhydrides, halides, peroxides, peroxyacids and their derivatives

1,012

Other

280

Other

235

Other

216

Other

68

Other

91

expcon_pic

 

EMPLOYEE

 

Employee Number

5,000

OTHER INFORMATION

SC's staff confirmed the above information.

 

 

ADMINISTRATIVE INFORMATION

 

ADMINISTRATIVE LICENSES & IDENTIFICATIONS

 

-

License No.

License Nam

e

1

Wei An Jian Zhi Wei Shen Zi [2016]02

Review of pre evaluation report on occupational hazards in construction projects

2

Lu 20160179

Drug production license

 

License No.

Wei An Jian Zhi Wei Shen Zi [2016]02

License Name

Review of pre evaluation report on occupational hazards in construction projects

Issuing date

2016-02-18

Issuing party

Bureau of Safety Production Supervision and Administration - Weihai City

License Content

Raw material production project of Wendeng branch

 

License No.

Lu 20160179

License Name

Drug production license

Issuing date

2016-01-01

Expire date

2020-12-31

Issuing party

Food and Drug Administration of Shandong Province

License Content

APIs (levamlodipine besylate, Trazosin hydrochloride, rofofuster, benzoate A Glenn Dean, cicenetine phosphate, celecoxib, lansoprazole, etopride hydrochloride, bupropion hydrochloric acid, oxo Bunin hydrochloride)

ABNORMAL TAX PAYER

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

C. Taxpayer information of database.

TAX ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Website of Tax Bureau of China;

B. Website of local Tax Bureau of subject's location;

C. Taxpayer information of database.

DEBT ARREARS LIST

As of the reporting date, no related record about subject is found through below sources:

A. Major telecommunication operators of China;

B. Telecommunication information of database.

 

 

FINANCIAL INFORMATION

 

DETAILED FINANCIAL INFORMATION (UNIT: CNY 1,000)

Financial Note: Due to the lack of a clear government policy regarding the transparency of enterprise financial information, some financial items might be missing in the financial statements, causing possible inequality between the sum of the provided items and the provided total numbers.

Assets

 

 

Year

2016-12-31

2017-12-31

Report Type 

Annual Report

Annual Report

Statement Type 

Individual

Individual

Source 

Tax Bureau

Tax Bureau

Audited or Not 

Unknown

Unknown

Cash and Equivalents 

7,776

2,899

Notes Receivable 

1,586

14,555

Accounts receivable 

10,957

10,916

Advances to Suppliers 

10,938

2,306

Other Accounts Receivable 

107,361

14,567

Inventories 

51,081

71,612

Total Current Assets 

189,699

116,855

Long-term Equity Investment 

15,000

-

Original Value of Fixed Assets 

58,188

164,011

Accumulated Depreciation 

24,449

41,140

Net Fixed Assets 

33,739

122,870

Fixed Assets Depreciation Reserves 

0

0

Fixed Assets 

33,739

122,870

Project Being Constructed 

43,582

163,913

Engineering Materials 

-

20

Liquidation Of Fixed Assets 

-

2,097

Intangible Asset 

8,084

64,182

Long-term fees to be deferred 

5,721

596

Other Non-Current Assets 

-

22,125

Total Non-Current Assets 

106,126

375,803

Total Assets 

295,825

492,658

expcon_pic

Liabilities

 

 

Year

2016-12-31

2017-12-31

Short Term Borrowings 

50,000

70,000

Accounts Payable 

12,612

26,226

Advances from Customers 

4,353

10,634

Accrued Payroll 

4,494

6,806

Taxes Payable 

209

5,303

Other Account Payable 

87,012

69,612

Total Current Liabilities

158,680

188,581

Deferred Income Tax Liabilities

698

698

Other Non-Current Liabilities

12,688

67,000

Total Non-Current Liabilities

13,386

67,698

Total Liabilities

172,066

256,279

Share Capital (Paid-in Capital)

10,000

90,000

Surplus Reserve

5,000

5,000

Undistributed Profits

108,759

141,379

Total Owner’s Equity

123,759

236,379

Total Liabilities and Owner's Equity

295,825

492,658

expcon_pic

Income Statement

 

 

Year

2016-12-31

2017-12-31

Operating Income

153,096

200,014

Operating Cost

78,132

104,372

Tax and Associate Charge

1,167

2,365

Operating Gross Profit

73,797

93,277

Other Business Income

566

483

Operating Expenses

10,867

14,149

Administrative Expenses

42,272

57,989

Financial Expenses

2,525

4,105

Operating Profit

18,699

17,517

Investment Income

-2,125

50

Non-operating Income

2,392

24,262

Non-operating Expenses

42

467

Total Profit

18,924

41,362

Income Tax

1,704

13,342

Net Profit

17,220

28,020

 

GROWTH RATE OF MAJOR FINANCIAL

 

 

2016

Growth(%)

2017

Operating Income   

153,096

30.65

200,014

Total Assets

295,825

66.54

492,658

Working Capital   

31,019

-331.23

-71,726

Total Profit   

18,924

118.57

41,362

Net Profit   

17,220

62.72

28,020

Total Liabilities   

172,066

48.94

256,279

Total Owner’s Equity   

123,759

91.00

236,379

Total Current Assets   

189,699

-38.40

116,855

Total Current Liabilities   

158,680

18.84

188,581

Fixed Assets   

33,739

264.18

122,870

 

IMPORTANT RATIO

 

Profitability

2016

2017

Return on net assets (%)

13.91

11.85

Return on total assets (%)

5.82

5.69

Net profit margin (%)

11.25

14.01

Gross Profit Margin (%)

48.20

46.64

Operation capacity

2016

2017

Turnover of total assets

0.52

0.41

Turnover of current assets

0.81

1.71

Turnover of account receivable

13.97

18.32

Turnover Days of Accounts Receivable

25.77

19.65

Solvency

2016

2017

Liabilities to assets ratio (%)

58.16

52.02

Current ratio

1.20

0.62

Quick ratio

0.87

0.24

Development capacity

2016

2017

Yearly Growth of Operating Income (%)

-

30.65

Yearly growth of gross profit (%)

-

26.40

Yearly growth of total assets (%)

-

66.54

 

FINANCIALS & ANALYSIS

 

Financial Note

SC's paid-up capital of 2016 is inconsistent with that of 2017 due to the registered capital change.

 

 

INDUSTRY INFORMATION

 

INDUSTRY CODE

 

SIC (China)

2710,Production of Original Medicine of Chemical Drugs Major

ISIC

2100,Manufacture of medicines, medical products and herbal medicines

NACE

21.1,Manufacture of medicines, medical products and herbal medicines

 

INDUSTRY FINANCIAL AVERAGE

 

-

2016

Subject

Best(10%)

Average

Worst(10%)

Solvency

Liabilities to Assets Ratio (%)

58.16

47.70

55.62

74.20

Current ratio

1.20

2.35

1.59

0.98

Quick ratio

0.87

1.47

0.99

0.61

Development Capacity

Yearly Growth of Operating Income (%)

-

34.90

15.46

-6.90

Yearly Growth of Gross Profit (%)

-

28.37

6.81

-9.60

Yearly Growth of Total Assets (%)

-

29.92

11.88

-4.02

Profitability

Return on net assets (%)

13.91

25.76

12.23

-2.10

Return on total assets (%)

5.82

15.31

8.88

-1.57

Gross profit margin (%)

48.20

53.54

36.45

14.23

Operation Capacity

Turnover of total assets

0.52

1.66

0.69

0.22

Turnover of current assets

0.81

3.09

1.85

0.98

Turnover days of account receivable

25.77

25.44

56.57

95.24

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

INR 67.32

UK Pound

1

INR 91.25

Euro

1

INR 80.51

CNY

1

INR 10.64

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.