MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HUAWEI TECHNOLOGIES CO., LTD. |
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Registered Office : |
Bantian Longgang District Shenzhen, 518129 |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1988 |
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Legal Form : |
Private Parent |
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Line of Business : |
Wired Telecommunications Network Operation |
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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
COMPANY NAME AND ADDRESS
Huawei Technologies Co., Ltd.
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Business Description |
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Huawei Technologies Co., Ltd., a Chinese company founded in 1988,
specializes in the research, development, manufacture and marketing of
telecommunications equipment, providing customized network solutions in
various telecommunications fields. Headquartered in Shenzhen, Guangdong
Province, Huawei Technologies provides various products and solutions,
including mobile communications, next generation networks, access networks,
switching networks, optical networks, data communications, intelligent
networks, value-added services, operation support systems, support networks,
multimedia communications, distribution frames and handsets products. As of
December 31, 2004, the Company's products were exported to over 90 countries,
including Germany, France, the United Kingdom, the United States, Japan,
Thailand, Singapore and South Korea, among others, and selected by over 300
operators worldwide. It has established eight regional headquarters and 55
branches all over the world. For the fiscal year ended 31 December 2010,
Huawei Technologies Company Limited's revenues increased 24% to CNY185.18B.
Net income increased 30% to CNY23.75B. Revenues reflect an increase in income
from telecom networks, global services and devices segments. Net income
reflects also reflects an increase in gross & operating profit margins
and a substantial decrease in share of losses of associates / jointly
controlled entities. |
Industry
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Industry |
Communications Services |
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ANZSIC 2006: |
5801 - Wired Telecommunications Network
Operation |
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NACE 2002: |
6420 - Telecommunications |
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NAICS 2002: |
51711 - Wired Telecommunications Carriers |
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UK SIC 2003: |
6420 - Telecommunications |
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US SIC 1987: |
4813 - Telephone Communications, Except
Radiotelephone |
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Key Executives
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Significant Developments |
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News |
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1 - Profit & Loss Item Exchange Rate: USD 1 = CNY 6.768989
2 - Balance Sheet Item Exchange Rate: USD 1 = CNY 6.5897
Corporate Overview
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The Strategic Initiatives report is created using technology to
extract meaningful insights from analyst reports about a company's strategic
projects and investments. More about Strategic Initiatives
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Partnerships |
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The agreement aims to expand the two companies' current thriving
customer ecosystems in telecommunications markets globally, and to help
enhance the reliability and quality of communications for local subscribers.
Tibco claims that the combination of Huawei's and Tibco's technologies will
create a unified, customer-centric offering that addresses operators'
challenges in network convergence and transformation. The collaboration will
bring together Huawei's global reach and Tibco's in-depth understanding of
rules-driven, process-based order fulfillment. According to Tibco, the newly
combined technology platform will offer communications service providers with
real-time monitoring across all systems; a single view of every subscriber;
multiple-channel customer interaction; order capture and fulfillment; service
request charging and invoicing; and integration of front and back office
functions for enhanced customer care and retention. Murat Sonmez, executive
vice president of global field operations at Tibco, said: “This partnership
agreement with a leader like Huawei represents a vast opportunity for Tibco
to extend its presence in global markets. |
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The collaboration will bring together Huawei's global reach and
Tibco's in-depth understanding of rules-driven, process-based order
fulfillment. According to Tibco, the newly combined technology platform will
offer communications service providers with real-time monitoring across all
systems; a single view of every subscriber; multiple-channel customer interaction;
order capture and fulfillment; service request charging and invoicing; and
integration of front and back office functions for enhanced customer care and
retention. Murat Sonmez, executive vice president of global field operations
at Tibco, said: “This partnership agreement with a leader like Huawei
represents a vast opportunity for Tibco to extend its presence in global
markets. Together we can help ensure telecom operators stay relevant and new
services are dynamically delivered to hundreds of millions of subscribers
reliably.†Huawei BSS
provides multiple-channel customer interaction and management, order capture
and fulfillment, service request charging and invoicing and operation
analysis functionalities. It performs convergence of multiple network
business support across all voice and data services. |
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Overview
Huawei Technologies Co., Ltd. (Huawei) is a China-based telecom
equipment provider with strong focus on innovation. It is China's largest
manufacturer of telecommunications equipment and its products and solutions are
used in over 140 countries. Leading market position of the company and steady
increase in financial performance enables the company to improve its
competitive position. However, competitive pressures and the rapid
technological changes could adversely affect the company’s ability to
capitalize on its operations and business model if not dealt properly.
Strengths
Enhanced Liquidity
The strong liquidity of Huawei supports its expansion and provides
business stability to the company. The company reported increased current ratio
of 1.6 times in 2010, as compared to 1.5 times in 2009. The increasing current
ratio indicates that the company is in a strong financial position and is more
capable of meeting its short-term obligations than previous year. The company
has also decreased its total debt from CNY16,377m in 2009 to CNY11,680m in
2010, reflecting a decline of 28.7% over that in 2009. The company’s cash and
cash equivalents, and short term investments increased to CNY38,062m in 2010
from CNY29,232m in 2009, reflecting an increase of 30.2%. The increasing cash
reserves affected the overall cash ratio, which increased to 0.43 times in 2010
from 0.35 times in 2009. The company also reported increase in working capital
over the previous year. The working capital of the company increased from
CNY41,835m in 2009 to CNY53,991m in 2010, an increase of 29.1% over that in
2009. The increasing liquidity and decreasing debt burden provide the company
with adequate capital to expand both geographically and operationally.
Products and Services Portfolio
Huawei leverages its comprehensive portfolio of solutions related to
telecom services for its revenue growth and fueling its profitability. The wide
product and service offerings enable the company in mitigating the risk
associated with narrow product offerings. In the telecom network infrastructure
segment it offers wide range of wireless, network and core network products. In
electronic devices category it offers mobile broadband devices, handsets,
convergence devices and video solution. In the applications and services
category it offers NGBSS (New Generation Business Support Solution), Digital Home,
SDP (Session Description Protocol), eCity and Mobile Office. In the
professional segment Huawei offers system integration solution, assurance
service solution, and learning and development solution. The broad range of
products and services enables the company to diversify its revenue generation
thus leading to improved profit margins.
Focus on Innovation
Huawei carries out a number of research and development (R&D)
activities to accelerate its growth. The company’s R&D arm focuses on
activities that could help in cost reduction and process improvement, quality
assurance, process control, and system development. It also focuses on
developing new manufacturing methods and improving the existing manufacturing
processes, besides new product development and improvement of the existing
products. Huawei employs 46% of its employees in R&D (research and
development) activities and invests an average of 10% of its revenues into
R&D. The company has developed an integrated product development processes
and operates a network of 20 R&D facilities across the globe. It has also
established more than 20 innovation centers. In 2009, Huawei was the second
largest Patent Cooperation Treaty applicant, with 1847 filings, and by the end
of December 2010, it had applied for 49,040 patents and of which 17,765 have
been granted. A strong focus on R&D activities will provide the company an
edge over its competitors in improving its operational performances. New product
and technology adoption strengthen the company’s innovative capabilities and
provide a source of future revenues for the company.
Leading Player
The strong market position gives the company a competitive advantage
over its peers. Tyco is one of the market leaders in passive components markets
Huawei is China's largest manufacturer of telecommunications equipment.
Besides, its products and solutions are used in over 140 countries and support
the communication needs of almost one-third of the world's population. The
company is leads mobile broadband segment with 55% market share (ABI Research,
2010). It stands at the top position in the Mobile Softswitch market with
around 40.6% market share (Frost&Sullivan, 2010). Besides, Huawei has been
ranked No.1 in IMS&NGN market by revenue with 27% market share (Gartner,
2010). It stands at the top position in NGN (Next generation network) shipments
with 26.5% market share (Frost&Sullivan, 2010). It is the top company in
SDM (Security Device Manager) and ngHLR (Next-gen Home Location Register)
Market (Frost&Sullivan, 2010). In addition it is No.1 in PCRF market by
contract number (Frost&Sullivan, 2010); No.1 in DSL with 34% market share
in 10Q3(Infonetics, 2010 Q3); No.1 in Global Optical Networks with 24% market
share in 2009Q4-2010Q3 (Ovum-RHK, 2010 Q3); and Ranked No.3 in Global Service
Provider Router with 15.1% market share by revenue (OVUM, 2010 Q3). In
addition, the company has also been ranked at top position in various other
product categories. The leading market position of the company helps it in
enhancing its competitive position and attracts a broad base of customers.
Limited Presence in the US
Huawei could stand to lose from its lack of presence in the US. Several
failed attempts at gaining foothold in the US market have left the company with
lack of presence in that region. In 2010, Huawei failed to reach agreements for
the purchase of two U.S. assets, even though the company offered at least $100m
more in each case. Huawei faced national security concerns in the US. Earlier,
in 2008 also the company dropped a bid to acquire computer-equipment maker 3Com
Corp, due to the US concerns that a deal to a Chinese company would give China
access to anti-hacking technology used by the Defense Department. Huawei also
hired Morgan Stanley for the long-awaited 3Com deal, which could have been the
company’s first step toward an initial public offering. The deal in which
Huawei, along with partner Bain Capital, tried to purchase a stake in 3Com failed.
Failing to improve stand in the US telecom market could impede its ability to
tap the US market.
Increasing Operational Expenses
The increase in expenses hampers the company's ability to realize its
profits. In the fiscal year ended December 2010, the operating expenses
increased to CNY48,239m, compared to CNY37,917 in 2009, reflecting an increase
of 27.2% over that in 2009. As a result, the operating costs as percentage of
sales increased from 25.4% in 2009 to 26.0% in 2010, an increase of 60 bps over
2009. The company’s administration cost also increased to CNY30,996m in 2010
from CNY24,169m in 2009, reflecting an increase of 28.3% over that in 2009. The
company’s administration cost as percentage of sales also increased to 16.7%
in 2010 from 16.2% in 2009. The rise in operating expenses reflects the
company's weak operations as it affects the profit generation ability.
Contracts and Agreements
The company to fuel its revenue generation enters into long term
contracts and agreements that provide thrust to its growth initiatives. In
March 2011, it won a contract for the BDM (Batam-Dumai-Melaka) submarine cable
project. Under the project Huawei would provide end-to-end turnkey submarine
system solution. The project is a cable system that would connect Melaka,
Malaysia and Dumai & Batam, Indonesia and is expected to be completed in
the later part of 2011. Earlier in February 2011, the company signed a contract
with Etisalat, Middle East and Africa's leading telecom operator, to deploy region's
widest LTE network in the UAE. The same month, Huawei, was selected by the NII
Holdings, Inc., provider of mobile communication services operating under the
NEXTEL brand in Latin America, to provide equipment and related services for
its UMTS networks for NII subsidiaries in Mexico and Brazil. In January 2011,
the company was selected by the TeliaSonera to expand and upgrade TeliaSonera's
SM/HSPA+/LTE network throughout southern Norway. New contracts and agreements
pave the way for the company to expand its revenue generation stream for a
longer duration.
Positive Outlook for Cloud Computing
The company recently declared its cloud computing strategy for the North
American market. It plans to work closely with leading North American companies
to provide a solution that would enable customers eliminating the need for
servers and storage, apart from reducing the operational expenses in running a
data center and cutting down capital expenditure. The company has sound growth
potential from its cloud services offerings in light growing markets for cloud
computing and managed IT solutions. As per the industry analysts, the global
markets for global cloud computing is forecasted grow from $37.8 billion in
2010 to $121.1 billion in 2015 at a CAGR of 26.2% during the period. As per
estimates from analysts, the cloud computing markets of Germany is expected to
grow from EUR1.14 billion in 2010 to EUR8.2 billion in 2015, an average growth
rate of 48%. The cloud computing markets is expected to account approximately
10% of total IT expenditure in Germany by 2015. In addition, the markets of
North American and European virtualization markets expected to grow at a CAGR
of 8.5% during 2010-16. As per industry analysts, the markets for
virtualization of North America and Europe will cross $12.3.8 billion and $94.7
billion, respectively in 2016. The offerings will enable the company to enhance
its market position in providing cloud computing around the world.
New Products and Services
The new product and service launches would help the company to meet the
changing customer requirements. In March 2011, Huawei launched the AR G3
enterprise access router. The router has third-generation router architecture
and supports mobile and fixed WAN (wide area network) access and also meets the
multi-service processing requirements of enterprises. The same month, it also
introduced the OBTN (Optical Burst Transport Network) prototype that uses burst
technology to realize optical layer packet switching. The successful completion
of the prototype would enhance the evolution towards an all-optical switching
network. Earlier, in February 2011, the company released the OptiX RTN 980,
which is industry's first Nodal IP microwave product that integrates hybrid and
pure packet microwave transmissions. In addition, Huawei launched the upgraded
version of its OptiX 900 series. The same month, it also released its 5-band
3-mode 1-cabinet solution. The device is capable of supporting five frequency
bands and three radio access technologies in a single cabinet. Earlier in early
2011, Huawei also launched Huawei IDEOS X5, an extension in the IDEOS family of
smart devices. In addition, in 2010, the company has introduced various new
products and upgraded several existing products. The new products and upgrades
help Huawei to provide enhanced services from its products leading to increased
customer service
Regulatory Changes in Environment
The regulatory environment for communication equipments and services
providers is changing in all the countries. European Union (EU) directive
relating to the restriction of hazardous substances (RoHS) in electrical and
electronic equipment and a directive relating to waste electrical and
electronic equipment (WEEE) have been and are being implemented in EU member
states. Among other things, the RoHS directive restricts the use of certain
hazardous substances, including lead, in the manufacture of electrical and
electronic equipment and the WEEE directive requires producers of electrical
goods to be responsible for the collection, recycling, treatment and disposal
of these goods. The company’s failure to comply with the RoHS and WEEE
directives, or similar laws and regulations that have been and may be
implemented in other countries, could result in reduced sales of products,
substantial product inventory write-offs, reputation damage, monetary penalties
and other sanctions. New regulatory changes could alter demand for products.
Intense Competition
Competition in the telecommunications network infrastructure equipment
and services industry is intense. The overall spending for communications
infrastructure products has increased significantly in recent years, and
spending levels are expected to remain relatively flat in the future. The
ability to compete with manufacturers of communications equipment products and
providers of related services depends primarily on engineering, manufacturing
and marketing skills the price, quality and reliability of products, delivery
and service capabilities and control of operating expenses. The major
competitors of the company include Cisco Systems, Inc., Alcatel-Lucent, Datang
Telecom Technology Co., Ltd., Juniper Networks, Inc., Nokia Siemens Networks
Oy, LM Ericsson Telephone Company and ZTE Corp. Moreover, several mergers and
consolidations in the telecom industry has been taking place. Consolidation
will result in large players with superior resources, which might affect the
business of the company.
Rapid Technology Changes
The technology market is subject to rapid technological change, and, to
compete effectively, the company should continually introduce new products that
achieve market acceptance. The communications equipment industry is
characterized by rapid technological changes, evolving industry standards,
changing market conditions and frequent new product and service introductions
and enhancements. The introduction of products using new technologies or the
adoption of new industry standards can make existing products, or products
under development, obsolete or unmarketable. Unless the company, adapts the
latest emerging technology in the market, and introduces new products and
services, its business may be adversely affected.
Corporate Structure News
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Huawei
Technologies Co., Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Shenzhen |
China |
Communications Services |
27,356.5 |
110,000 |
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Subsidiary |
Haryana |
India |
Office Equipment |
74.0 |
600 |
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Subsidiary |
Basingstoke, |
United Kingdom |
Computer Services |
341.8 |
428 |
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Subsidiary |
Johannesburg |
South Africa |
Communications Services |
1,000.0 |
350 |
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Subsidiary |
SĂ£o Paulo , SĂ£o Paulo |
Brazil |
Communications Services |
24.0 |
240 |
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Subsidiary |
Plano, TX |
United States |
Communications Services |
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150 |
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Subsidiary |
Kowloon, Kowloon |
Hong Kong |
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50 |
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Subsidiary |
Singapore |
Singapore |
Office Equipment |
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5 |
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Subsidiary |
Kuala Lumpur |
Malaysia |
Communications Equipment |
66.9 |
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Subsidiary |
Maputo |
Mozambique |
Office Equipment |
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Subsidiary |
Bogota, Cundinamarca |
Colombia |
Office Equipment |
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Subsidiary |
Hydra, Algiers |
Algeria |
Office Equipment |
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Subsidiary |
Moscow |
Russian Federation |
Communications Services |
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Subsidiary |
Tunis |
Tunisia |
Office Equipment |
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Subsidiary |
Tashkent |
Uzbekistan |
Communications Services |
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Subsidiary |
Jakarta |
Indonesia |
Office Equipment |
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Subsidiary |
Seoul |
Korea, Republic of |
Office Equipment |
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Subsidiary |
Ashgabat |
Turkmenistan |
Office Equipment |
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Executives Report
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Significant Developments
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There were no significant developments matching your query for KeyID
46152406 |
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US Patent Issued
to Huawei Technologies on Aug. 2 for "Method for Charging Multimedia
Message Service" (Chinese Inventor)
U.S. Fed News: 09 August 2011
[What follows is the full text of the news story.]
ALEXANDRIA, Va.,
Aug. 9 -- United States Patent no. 7,991,384, issued on Aug. 2, was assigned to
Huawei Technologies Co. Ltd. (Shenzhen, China).
"Method for
Charging Multimedia Message Service" was invented by Dawei Li (Guangdong,
China).
According to the
abstract released by the U.S. Patent & Trademark Office: "The present
invention discloses a method for charging Multimedia Message Service (MMS),
where a corresponding relationship between a Mobile Station International ISDN
Number (MSISDN) of a receiver and a Recipient Multimedia Message Service Center
(Recipient-MMSC) that sends an MMS to the receiver is set in an adjacent
Wireless Application Protocol Gateway (WAP-GW) which the receiver accesses. The
method includes: upon the receipt of the MMS, the receiver sends an MMS receipt
confirmation including the MSISDN of the receiver to the adjacent WAP-GW which
the receiver accesses; the adjacent WAP-GW which the receiver accesses
determines the Recipient-MMSC that corresponds to the MSISDN of the receiver
contained in the confirmation according to the set corresponding relationship,
and sends the confirmation to the Recipient-MMSC; and the Recipient-MMSC
triggers the charging mechanism and takes the receipt of the confirmation as a
charging point for charging."
The patent was
filed on May 24, 2005, under Application No. 11/596,764.
For further
information please visit:
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=7991384&OS=7991384&RS=7991384
For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Cell patent suit
draws Chinese fire
National Post: 09 August 2011
[What follows is the full text of the news story.]
InterDigital Inc.,
owner of about 1,300 U.S. mobile-phone patents, filed infringement claims with
a U.S. trade panel last month to boost the price of its intellectual property
portfolio, Huawei Technologies Co. said.
InterDigital
"may be using the commission's investigation process purely for the
purpose of inflating its value as it prepares to sell its IP assets,"
Huawei said in an Aug. 5 letter to the U.S. International Trade Commission in
Washington.
InterDigital said
July 19 it was considering a sale of its patent portfolio. The company filed a
complaint with the ITC on July 26 that accused Huawei, Nokia Oyj and ZTE Corp.
of infringing seven patents related to so-called third-generation wireless
technology.
In its complaint,
King of Prussia, Pa.-based InterDigital asked the panel for an order that would
block U.S. imports of mobile phones containing the disputed technology. All
three companies sent letters to the commission saying such an action would not
be in the public's interest.
There is a
"distinct possibility that InterDigital is using the commission's
proceeding simply to inflate the value of its patent holdings with no likely
benefit to the kind of domestic industry intended to be protected by the
statute," Sturgis Sobin of Covington & Burling in Washington wrote on
behalf of Shenzhen, China-based Huawei.
The companies
asked that the judge assigned to the case gather evidence on the public
implications of a ruling in InterDigital's favour. The ITC has not yet picked a
judge.
In a July 26
statement, InterDigital said it filed the complaint after "good faith
efforts" to reach a licensing agreement failed. When asked about the new
filings, Jack Indekeu, a spokesman for InterDigital, said the company doesn't
comment on litigation.
More Operators Are
Supporting TD-LTE Globally
SinoCast: 08 August 2011
[What follows is the full text of the news story.]
BEIJING, Aug 08,
2011 (SinoCast Daily Business Beat via COMTEX) -- Contrary from TD-SCDMA in
2006, TD-LTE, an internationalized wireless communication standard led by
China, is developing well today and has been supported by many overseas
operators.
Notably, the first
batch of commercializable chips based upon TD-LTE was launched by such
international manufacturers as Qualcomm Inc. (Nasdaq: QCOM) and ST-Ericsson.
Moreover, TD-LTE
has been expanding favorably overseas. Now, 12 operators support TD-LTE
globally. Japanese SoftBank and Indian Bharti will probably become the first
operators to commercialize TD-LTE, according to Goldman Sachs Group. And 17
global operators are in trial operation of TD-LTE, according to GSA and CDG.
Even though China
Mobile Ltd. (HK: 0941) may not become the first operator of TD-LTE service, the
part China Mobile plays in promoting TD-LTE technologies cannot be neglected.
Scaled tests of
TD-LTE started in Guangzhou, Shenzhen, Shanghai, Nanjing, Hangzhou, Xiamen and
Beijing in 2011, and some manufacturers such as ZTE Corporation (000063.SZ),
Huawei Technologies Co., Ltd., Alcatel-Lucent Shanghai Bell Co., Ltd. (ASB),
Samsung, etc now provide equipments for those cities.
US Patent Issued
to Huawei Technologies on Aug. 2 for "Method for Implementing Distribution
of Link State Information in an Optical Network" (Chinese...
U.S. Fed News: 08 August 2011
[What follows is the full text of the news story.]
US Patent Issued
to Huawei Technologies on Aug. 2 for "Method for Implementing Distribution
of Link State Information in an Optical Network" (Chinese Inventors)
ALEXANDRIA, Va.,
Aug. 8 -- United States Patent no. 7,990,894, issued on Aug. 2, was assigned to
Huawei Technologies Co. Ltd. (Shenzhen, China).
"Method for
Implementing Distribution of Link State Information in an Optical Network"
was invented by Min Zhao (Shenzhen, China), Junjie Feng (Shenzhen, China) and
Li Huang (Shenzhen, China).
According to the
abstract released by the U.S. Patent & Trademark Office: "A method for
implementing distribution of link state information in an optical network
includes: determining information of each link protection attribute section
included in a Traffic Engineering (TE) link; carrying the information of each
link protection attribute section in a customized TLV, respectively;
distributing the TLV in the optical network via Traffic Engineering Link State
Advertisement (TE LSA). With this invention, all the link state information
such as multiple kinds of protection types included in one TE link can be
carried in the customized TLV to distribute. Therefore, in the implementation
of this invention, one TE link corresponding to one optical fiber can be configured
with multiple kinds of protection types."
The patent was
filed on Dec. 22, 2009, under Application No. 12/644,400.
For further
information please visit:
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=7990894&OS=7990894&RS=7990894
For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
US Patent Issued
to Huawei Technologies on Aug. 2 for "Phase Locked Loop and Method for
Charging Phase Locked Loop" (Chinese Inventor)
U.S. Fed News: 08 August 2011
[What follows is the full text of the news story.]
ALEXANDRIA, Va.,
Aug. 8 -- United States Patent no. 7,990,192, issued on Aug. 2, was assigned to
Huawei Technologies Co. Ltd. (Shenzhen, China).
"Phase Locked
Loop and Method for Charging Phase Locked Loop" was invented by Hongquan
Sun (Shenzhen, China).
According to the
abstract released by the U.S. Patent & Trademark Office: "A phase
locked loop (PLL) and a method for charging the PLL are disclosed. The charge
circuit includes: a threshold judging module, adapted to output a signal to a
receiving module, and when the voltage of a filter reaches a preset threshold,
output a valid signal to the receiving module; the receiving module, adapted to
receive a trigger signal and output a first control signal to a charging
module, and when the signal from the threshold judging module is a valid
signal, adapted to output a second control signal to the charging module; the
charging module, adapted to charge the filter when receiving the first control
signal and stop charging the filter when receiving the second control signal.
So that a better voltage may be provided to the PLL to shorten the locking time
of the PLL."
The patent was
filed on Jan. 20, 2010, under Application No. 12/690,466.
For further
information please visit:
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=7990192&OS=7990192&RS=7990192
For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Australia Patent:
Huawei Technologies Files Application for 'Method And Device For Mapping And
De-Mapping A Client Signal'
Australian Government: 05 August 2011
[What follows is the full text of the news story.]
Australia, Aug. 5
-- Huawei Technologies Co. Ltd., China, has filed an application (2010213281)
on Jan. 14, 2010, for 'Method And Device For Mapping And De-Mapping A Client
Signal.'
Inventor(s):
Qiuyou Wu and Yao Shen
Application
Status: Filed
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2010213281
For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Nextel Mexico
Announces $375 Million Loan From the China Development Bank CDB to Fund 3G
Network Build-Out
Wireless Communication Companies
Investment Weekly News: 03 August 2011
[What follows is the full text of the news story.]
NII Holdings, Inc.
[NASDAQ: NIHD], announced that its operating subsidiary, Nextel Mexico, and
China Development Bank (CDB) have signed an agreement that provides for Nextel
Mexico to receive a $375 million loan from CDB to acquire 3G network
infrastructure from Huawei Technologies Co. Ltd., a global provider of next
generation telecommunications network solutions.
Under the terms of
the agreement, Nextel Mexico will receive up to $375 million in financing from
CDB to assist in the deployment of its 3G network in Mexico. The financing has
a final maturity of ten years, with a three year drawdown period and a seven
year repayment term. In February 2011, NII Holdings signed agreements with
Huawei to provide end-to-end W-CDMA solutions to build Nextel Mexico's W-CDMA
networks relating to its 3G spectrum licenses in Mexico.
"We are
extremely pleased that Nextel Mexico secured this funding, which is consistent
with our strategy of obtaining long-term financing with attractive rates at the
market level," said Gokul Hemmady, executive vice president and chief
financial officer of NII Holdings. "We believe this financing places us in
a strong position to evolve our business while pursuing our growth initiatives
in Mexico. This agreement with CDB further enables Nextel Mexico to take a
significant step forward in executing its 3G strategy," he added.
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CHINA,PHILIPPINES : Huawei experiences increase in revenues in
Philippines |
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TendersInfo News |
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[What follows is the full text of the article.] Huawei Technologies Co. Ltd., headquartered in
China and involved in provision of hardware to telecommunication companies,
enjoyed increase in returns in the present quarter of 2011 to $400 million
over approximately $320 earned last year. Hua Yang, president for the enterprise business
group for Huawei Southeast Asia, stated that the development of the company
in the Philippines was because of its services reasonable costs and its
different solutions. We do not only offer telecom services but also
ICT (information and communications technology) solutions, Yang stated at the
launch of a training program. We continue bringing affordable solutions ...
that has driven us in this market, Yang claimed. The company markets cell phones, dongles for
broadband Internet and various equipment to domestic companies like the
Philippine Long Distance Telephone Co. and its mobile network supplier Smart
Communications, Inc. Huawei also has customers like Ayala-led Globe
Telecom, Inc., and Gokongwei s mobile brand Sun Cellular, which is run by
Digital Telecommunications Philippines, Inc. Seventy percent of wireless voice traffic in the
Philippines is believed to have the support of Huawei s systems, while 80% of
household Internet traffic also uses the company s platforms, according to
Nathan Wang, vice-president for the enterprise business group for Huawei
Southeast Asia. The company has increased to some 400 personnel
in the Philippines in its decade old operations in the nation, he noted. Huawei and Asia Pacific College, which was
established by SM Foundation and IBM Philippines, signed a deal recently for
the setting up of a training institute. Copyright 2011 Euclid Infotech Pvt. Ltd.,
distributed by Contify.com
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Huawei launches cloud-computing smartphones |
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Telecom Tiger |
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[What follows is the full text of the article.] China telecom major Huawei Technologies Co Ltd
launched its cloud-computing mobile phones on Wednesday. This is being as a
major step to capture the smartphone market. Global sales from Huawei''s devices division,
which sells consumer products such as smartphones, mobile phones, tablets and
wireless cards, grew by 64 percent to $4.2 billion in the first half of the
year from a year ago. Shipments jumped nearly 40 percent to 72 million
units, Huawei said in a statement on Wednesday. Huawei launched its "Vision"
smartphones at a media event in Beijing, with the new 9.9-mm, 121-g phone
running on Google's Android 2.3. "We are striving to become one of the top
three global brands for mobile phones by 2015," Huawei Device CEO Wan
Biao said in the statement. The unit contributed about 17 percent to total
revenue. In July, Huawei Device executives said the firm
aimed to ship 20 million smartphones this year, higher than a previous target
of 12 million-15 million units. In June, Huawei unveiled its MediaPad, a 7-inch
Android-based tablet computer in Singapore, and is also developing a 10-inch
device to be launched this year. The privately-held company employs more than
110,000 people, about half of whom are based outside China. Copyright 2011 AT Data Process Pvt. Ltd,
distributed by Contify.com
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CHINA,MEXICO : Nextel Mexico inks $375 million loan deal with China
Development Bank |
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TendersInfo News |
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[What follows is the full text of the article.] Nextel Mexico, an operating subsidiary of NII
Holdings Inc., inked a loan deal with China Development Bank (CDB). As per this deal, Nextel Mexico will get $375
million loan from CDB to purchase 3G network infrastructure from Huawei
Technologies Co. Ltd., a leading global supplier of next generation
telecommunications network solutions. With this loan, Nextel Mexico will be
able to offer its 3G network in Mexico. This loan has a final maturity period
of 10-year, with a 3-year drawdown period and a 7-year repayment period. Gokul Hemmady, EVP and CFO of NII Holdings, said,
"We are extremely pleased that Nextel Mexico secured this funding, which
is consistent with our strategy of obtaining long-term financing with
attractive rates at the market level. We believe this financing places us in
a strong position to evolve our business while pursuing our growth
initiatives in Mexico. This agreement with CDB further enables Nextel Mexico
to take a significant step forward in executing its 3G strategy." In February 2011, NII Holdings has inked deals
with Huawei to offer end-to-end W-CDMA solutions to construct Nextel Mexico's
W-CDMA networks associated to its 3G spectrum licenses in Mexico. Copyright 2011 Euclid Infotech Pvt. Ltd.,
distributed by Contify.com
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Huawei sees huge potential in Oman's ICT |
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Telecom Tiger |
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[What follows is the full text of the article.] Huawei Technologies, a leading telecom and ICT
(information and communications technology) solutions provider, on Saturday
said that its Oman office has commenced operations in a new location at
Knowledge Oasis Muscat (KOM). At the opening ceremony, James Wu, general
manager of Huawei Technologies, highlighted the huge potential in Oman's ICT
segment. "The Gulf Cooperation Council (GCC) region has the greatest
potential within the ICT sector and Oman is one of the countries that shows
enormous growth opportunities. It also has significant influence in the
Middle East and Africa region," Wu added. "In addition, to further consolidate our
market leadership position within the telecoms domain, Huawei is also seeking
new business opportunities in the enterprise and consumer markets in the
country," he said. "Huawei's Enterprise Business Group is
poised to provide service offerings covering infrastructure, communications,
data centres, and industry applications across five key sectors including
banking, government oil and gas, smart grids and transportation," added
Wu. Copyright 2011 AT Data Process Pvt. Ltd,
distributed by Contify.com
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Huawei partners with Stage 2 to deliver first class IP training to
Middle East |
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Telecom Tiger |
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[What follows is the full text of the article.] Huawei Technologies, a global leader in
delivering telecom and ICT solutions on Thursday announced it has launched
the Huawei Authorised Learning Partner (HALP) programme in partnership with
Stage 2 Learning Solutions, a certified division under Al Khaleej Group,
currently one of the Middle East's largest leading independent education and
training centres. The Huawei Authorized Learning Partner (HALP)
programme will provide training and certification specifically in Internet
Protocol (IP) and Datacom technology. The training aims to equip technical
engineers and experts with specific technical skills including the
application, installation, configuration and troubleshooting of Datacom and
IP technology. From understanding network designs, benchmarking
and maintenance in IP technology, the HALP programme will ensure that
technical engineers and experts in the enterprise market, channel sales and
services, as well as students studying network technology related degrees
achieve the best value training in IP technology. The programme is expected
to enrol at least 500 students across the Middle East region by the end of
2011. Copyright 2011 AT Data Process Pvt. Ltd,
distributed by Contify.com
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GHANA : KNUST inks MoU with Vodafone for Africa's biggest Internet
Cafe |
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TendersInfo News |
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[What follows is the full text of the article.] A Memorandum of Understanding has been signed by
Management of Kwame Nkrumah University of Science and Technology with
Vodafone, Ghana to set up an Internet Cafe estimated to be the biggest in
Africa at the College of Engineering. Greater access and faster internet
service are provided by the Internet Cafe to both students and staff of the
University. According to Professor William Otoo-Ellis, the
Vice Chancellor, by the MOU, 10 per cent of the returns made from the project
will also go to the KNUST. The official further informed that Vodafone has
increased the University s internet band width from 13 megabytes to 45
megabytes. The project is expected to enhance internet
connectivity and access speed on campus for numerous advantages. The Vice
Chancellor said that government has given assurance to set up a Data
Communication Centre at the University through the Ministry of
Communications. For the improvement in the study of Technology on
campus, the University is consultating with the Ministry of Communications
and Huawei Technologies, a Chinese Telecommunication Company for the supply
of equipment and establishment of a state-of-the-art Data Communications
Laboratory in 2011. Copyright 2011 Euclid Infotech Pvt. Ltd.,
distributed by Contify.com
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Huawei appoints new creative and media agencies |
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Indiantelevision.com |
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[What follows is the full text of the article.] MUMBAI: Huawei Technology has appointed new
partners to handle its creative, media, on-ground and online duties. Contract Advertising won the creative mandate
following a multi-agency pitch that also involved Draftfcb Ulka and Mudra,
the incumbent agency. Besides Contract, Motivator of GroupM will be the
media partner, Encompass will be the on-ground partner and iContract would
back Contract on the digital front. Contract will work on three verticals of Huawei
-- terminal,enterprise and network and aim to establish the companys devices
in open market launches of its Android devices, tablets, data card etc. The agencys prime focus will be terminal business
that will involve promotion and launch of mobile handsets and other devices.
Contract will also take care of the growing B2B business. Contract Advertising GM Prashant Mathur said,
While we listened very attentively and keenly to the clients needs and
requirements, in our presentation, we remained true to what we believed the
corporate brand and the product brands required. Huawei- devices marketing and solutions director
Anand Narag added, Huawei has traditionally been a strong B2B brand. We have
now set ourselves a target to be amongst the top five handset brands globally
by 2013. Narag also stated that the company is now looking
forward to Contract as a single window marketing partner to spearhead all
communication solutions across mediums traditional as well as
non-traditional. Huawei-Network marketing and solutions director
Sethu Raman asserted that the creative idea from Contract was adaptable to
their multiple categories. Copyright 2011 Indian Television Dot Com Pvt
Ltd., distributed by Contify.com |
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Huawei Technologies Co. Ltd. Files Patent
Application for Method, Apparatus and System for Cell Handover |
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Indian Patent
News |
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[What follows is the full text of the article.] New Delhi, July 4 -- China based Huawei
Technologies Co. Ltd. filed patent application for method, apparatus and
system for cell handover. The inventors are Gao Yongqiang, He Chuanfeng, Yang
Bo and Meng Yan. Huawei Technologies Co. Ltd. filed the patent
application on March 28, 2011. The patent application number is
1331/KOLNP/2011 A. The international classification number is H04W36/08. According to the Controller General of Patents,
Designs & Trade Marks, "A method apparatus and system for cell
handover are provided. The method includes the following steps. User
equipment, UE, initiates a cell handover. If the UE is not in a downlink
discontinuous reception state, the cell handover is performed when the UE is
not in the downlink discontinuous reception state. If the UE is in a downlink
discontinuous reception state, the UE exits the downlink discontinuous
reception state and performs the cell handover when the UE is not in the
downlink discontinuous reception state. The embodiments of the present
invention prevent the problem that the UE cannot receive a handover
indication command during the cell handover in time because the UE is in the
downlink discontinuous reception state, thus reducing time delay of the cell
handover, avoiding longer service interruption, and reducing the call drop
rate." About the Company Huawei Technologies Co., Ltd., a Chinese company
founded in 1988, specializes in the research, development, manufacture and
marketing of telecommunications equipment, providing customized network
solutions in various telecommunications fields. Headquartered in Shenzhen,
Guangdong Province, Huawei Technologies provides various products and
solutions, including mobile communications, next generation networks, access
networks, switching networks, optical networks, data communications,
intelligent networks, value-added services, operation support systems,
support networks, multimedia communications, distribution frames and handsets
products. Copyright Contify.com
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CHINA,TAIWAN, PROVINCE OF CHINA : Taiwan bans China made core network
equipment buying |
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TendersInfo News |
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[What follows is the full text of the article.] The Taiwanese regulator has barred the purchase
of core network equipment of China's Huawei Technologies. The National
Communications Commission (NCC) has issued this ban due to security concerns,
the media reports. Many Taiwanese telecommunications service
operators have bought network equipment from Huawei. The Huawei made product
ranges from parts for local area networks and core networks for mobile phones
and tablet PCs. In the mean time, some of the products are still in the
possession of customs and yet to get their clearance. The Commission
spokesman, Chen Jeng-chang said that the Executive Yuan has directed the
regulator to manage this case with legally and carefully. Chen further added that operators who are in
preparation to procure core network equipment, should ask the NCC and the
Investigation Bureau s approval. The Commission also have made proposals to
the ministry of economic affairs to make a list of the banned products from
China to avoid perplexity. Asia Pacific Broadband Telecom (APBT) recently
said it would likely to buy EV-DO equipment from Alcatel-Lucent as a
substitute for its intended purchase of the required equipments from the
Chinese equipment vendor Huawei Technologies. Copyright 2011 Euclid Infotech Pvt. Ltd.,
distributed by Contify.com
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Taiwan imposes ban on Huawei core network parts |
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Telecom Tiger |
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[What follows is the full text of the article.] Taiwanese telecoms regulator the National
Communications Commission (NCC) has imposed a ban on the country's telcos
using core network equipment supplied by Chinese equipment manufacturer
Huawei Technologies, according Taipei Times The watchdog has reportedly cited concerns over
national security as the reason behind the ruling. NCC spokesperson Chen
Jeng-chang indicated that the Executive Yuan (executive branch of the
government) has requested that the regulator handle the matter in a 'lawful
and cautious manner'. Several notable Taiwanese telcos - including Asia
Pacific Telecom (APT), Vibo, Taiwan Mobile and Far EasTone - are all believed
to have purchased equipment from Huawei this year. Copyright 2011 AT Data Process Pvt. Ltd,
distributed by Contify.com
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Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
Revenue |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
Total Revenue |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
15,905.8 |
13,188.4 |
11,860.4 |
9,313.8 |
6,671.7 |
|
Cost of Revenue, Total |
15,905.8 |
13,188.4 |
11,860.4 |
9,313.8 |
6,671.7 |
|
Gross Profit |
11,450.8 |
8,632.5 |
7,794.3 |
5,754.2 |
3,788.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Total Selling/General/Administrative Expenses |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Research & Development |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Other Operating Expense |
101.5 |
59.7 |
5,169.5 |
4,198.7 |
2,894.1 |
|
Other, Net |
- |
- |
79.0 |
91.1 |
130.4 |
|
Other Operating Expenses, Total |
101.5 |
59.7 |
5,248.5 |
4,289.8 |
3,024.5 |
|
Total Operating Expense |
23,032.2 |
18,739.1 |
17,108.9 |
13,603.6 |
9,696.2 |
|
|
|
|
|
|
|
|
Operating Income |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-88.2 |
-56.7 |
-208.8 |
-197.5 |
-47.9 |
|
Interest Expense, Net Non-Operating |
-88.2 |
-56.7 |
-208.8 |
-197.5 |
-47.9 |
|
Investment Income -
Non-Operating |
-183.9 |
216.5 |
-862.6 |
-44.5 |
-18.5 |
|
Interest/Investment Income - Non-Operating |
-183.9 |
216.5 |
-862.6 |
-44.5 |
-18.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-272.1 |
159.9 |
-1,071.4 |
-241.9 |
-66.4 |
|
Income Before Tax |
4,052.2 |
3,241.7 |
1,474.4 |
1,222.4 |
697.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
542.5 |
566.5 |
- |
- |
67.2 |
|
Income After Tax |
3,509.7 |
2,675.2 |
1,474.4 |
1,222.4 |
630.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
-3.1 |
- |
- |
-0.2 |
|
Net Income Before Extraord Items |
3,509.2 |
2,672.1 |
1,474.4 |
1,222.4 |
630.0 |
|
Net Income |
3,509.2 |
2,672.1 |
1,474.4 |
1,222.4 |
630.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
-239.9 |
-99.5 |
- |
|
Total Adjustments to Net Income |
- |
- |
-239.9 |
-99.5 |
- |
|
Income Available to Common Excl Extraord Items |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Diluted Net Income |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
88.2 |
56.7 |
208.8 |
197.5 |
47.9 |
|
Normalized Income Before Tax |
4,052.2 |
3,241.7 |
1,474.4 |
1,222.4 |
697.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
542.5 |
566.5 |
- |
- |
67.2 |
|
Normalized Income After Tax |
3,509.7 |
2,675.2 |
1,474.4 |
1,222.4 |
630.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Rental Expenses |
279.5 |
261.5 |
178.9 |
171.0 |
144.4 |
|
Research & Development Exp, Supplemental |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Normalized EBIT |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
Normalized EBITDA |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
Current Tax - Domestic |
588.1 |
456.6 |
- |
- |
- |
|
Current Tax - Foreign |
228.8 |
241.3 |
- |
- |
- |
|
Current Tax - Other |
16.1 |
-10.2 |
- |
- |
- |
|
Current Tax - Total |
833.1 |
687.6 |
- |
- |
- |
|
Deferred Tax - Domestic |
-290.6 |
-121.1 |
- |
- |
- |
|
Deferred Tax - Total |
-290.6 |
-121.1 |
- |
- |
- |
|
Income Tax - Total |
542.5 |
566.5 |
- |
- |
- |
|
Other Pension, Net - Domestic |
427.4 |
236.4 |
- |
- |
- |
|
Domestic Pension Plan Expense |
427.4 |
236.4 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
402.6 |
302.6 |
- |
- |
- |
|
Total Pension Expense |
830.0 |
539.0 |
- |
- |
- |
|
Total Plan Other Expense |
427.4 |
236.4 |
- |
- |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate |
6.5897 |
6.827 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
4,926.9 |
4,011.9 |
- |
- |
- |
|
Cash & Equivalents |
- |
- |
3,243.3 |
2,132.7 |
1,272.2 |
|
Short Term Investments |
849.1 |
270.0 |
- |
- |
0.1 |
|
Cash and Short Term Investments |
5,776.0 |
4,281.8 |
3,243.3 |
2,132.7 |
1,272.3 |
|
Accounts Receivable -
Trade, Gross |
7,929.5 |
8,234.4 |
- |
- |
- |
|
Provision for Doubtful
Accounts |
-628.7 |
-635.9 |
- |
- |
- |
|
Trade Accounts Receivable - Net |
8,363.7 |
8,221.5 |
9,318.0 |
6,185.4 |
4,397.1 |
|
Other Receivables |
2,078.2 |
1,047.9 |
- |
- |
- |
|
Total Receivables, Net |
10,441.9 |
9,269.4 |
9,318.0 |
6,185.4 |
4,397.1 |
|
Inventories - Finished Goods |
868.9 |
769.0 |
918.7 |
913.3 |
553.6 |
|
Inventories - Work In Progress |
409.3 |
306.1 |
324.0 |
303.6 |
222.4 |
|
Inventories - Raw Materials |
982.0 |
683.6 |
632.8 |
606.1 |
378.6 |
|
Inventories - Other |
1,923.0 |
1,895.4 |
1,680.6 |
732.4 |
556.5 |
|
Total Inventory |
4,183.2 |
3,654.2 |
3,556.1 |
2,555.4 |
1,711.2 |
|
Other Current Assets |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Other Current Assets, Total |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Total Current Assets |
21,665.2 |
18,251.9 |
16,117.4 |
10,873.5 |
7,380.6 |
|
|
|
|
|
|
|
|
Buildings |
412.2 |
277.1 |
721.6 |
693.4 |
679.3 |
|
Land/Improvements |
615.4 |
451.4 |
- |
- |
- |
|
Machinery/Equipment |
1,716.5 |
1,510.8 |
1,449.5 |
1,254.0 |
1,037.4 |
|
Construction in
Progress |
168.3 |
299.1 |
129.5 |
54.0 |
34.0 |
|
Other
Property/Plant/Equipment |
65.9 |
63.6 |
67.0 |
67.0 |
63.2 |
|
Property/Plant/Equipment - Gross |
2,978.1 |
2,602.0 |
2,367.7 |
2,068.3 |
1,813.9 |
|
Accumulated Depreciation |
-1,563.3 |
-1,383.8 |
-1,243.5 |
-1,018.2 |
-741.5 |
|
Property/Plant/Equipment - Net |
1,414.8 |
1,218.3 |
1,124.2 |
1,050.1 |
1,072.3 |
|
Intangibles - Gross |
254.8 |
194.7 |
- |
- |
- |
|
Accumulated Intangible Amortization |
-156.6 |
-113.7 |
- |
- |
- |
|
Intangibles, Net |
98.2 |
81.0 |
19.6 |
16.9 |
13.2 |
|
LT Investment - Affiliate Companies |
46.3 |
45.6 |
- |
- |
- |
|
LT Investments - Other |
- |
- |
110.3 |
96.3 |
285.9 |
|
Long Term Investments |
46.3 |
45.6 |
110.3 |
96.3 |
285.9 |
|
Note Receivable - Long Term |
17.6 |
0.0 |
- |
- |
- |
|
Deferred Income Tax - Long Term Asset |
1,077.7 |
753.9 |
577.5 |
411.4 |
218.7 |
|
Other Long Term Assets |
88.2 |
105.3 |
99.2 |
58.8 |
59.8 |
|
Other Long Term Assets, Total |
1,165.9 |
859.2 |
676.7 |
470.2 |
278.5 |
|
Total Assets |
24,407.9 |
20,456.0 |
18,048.2 |
12,507.0 |
9,030.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
6,384.4 |
6,278.6 |
6,399.4 |
4,787.7 |
3,308.2 |
|
Notes Payable/Short Term Debt |
407.5 |
1,155.3 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
2,003.4 |
178.8 |
401.0 |
|
Dividends Payable |
- |
- |
15.5 |
0.0 |
0.1 |
|
Income Taxes Payable |
634.9 |
541.4 |
209.1 |
106.5 |
196.7 |
|
Other Payables |
5,809.1 |
3,976.7 |
2,726.0 |
2,008.0 |
1,731.0 |
|
Other Current Liabilities |
236.1 |
172.1 |
197.9 |
170.4 |
96.5 |
|
Other Current liabilities, Total |
6,680.1 |
4,690.2 |
3,148.5 |
2,284.9 |
2,024.3 |
|
Total Current Liabilities |
13,471.9 |
12,124.1 |
11,551.4 |
7,251.4 |
5,733.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,358.9 |
1,243.6 |
158.3 |
242.6 |
47.9 |
|
Total Long Term Debt |
1,358.9 |
1,243.6 |
158.3 |
242.6 |
47.9 |
|
Total Debt |
1,766.4 |
2,398.9 |
2,161.7 |
421.4 |
448.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
89.5 |
92.4 |
31.4 |
0.0 |
- |
|
Deferred Income Tax |
89.5 |
92.4 |
31.4 |
0.0 |
- |
|
Minority Interest |
4.4 |
9.2 |
5.2 |
143.7 |
5.2 |
|
Pension Benefits - Underfunded |
902.9 |
514.4 |
- |
- |
- |
|
Other Long Term Liabilities |
200.2 |
136.7 |
527.4 |
379.2 |
31.2 |
|
Other Liabilities, Total |
1,103.1 |
651.1 |
527.4 |
379.2 |
31.2 |
|
Total Liabilities |
16,027.9 |
14,120.4 |
12,273.6 |
8,016.9 |
5,817.8 |
|
|
|
|
|
|
|
|
Common Stock |
- |
- |
5,774.6 |
4,490.1 |
3,212.7 |
|
Common Stock |
- |
- |
5,774.6 |
4,490.1 |
3,212.7 |
|
Other Equity |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Other Equity, Total |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Total Equity |
8,380.0 |
6,335.6 |
5,774.6 |
4,490.1 |
3,212.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
24,407.9 |
20,456.0 |
18,048.2 |
12,507.0 |
9,030.4 |
|
|
|
|
|
|
|
|
Employees |
110,000 |
95,000 |
37,000 |
35,000 |
2,000 |
|
Accumulated Intangible Amort, Suppl. |
156.6 |
113.7 |
- |
- |
- |
|
Total Operating Leases, Supplemental |
72.1 |
86.1 |
119.4 |
78.3 |
91.4 |
|
Operating Lease Payments Due in Year 1 |
37.0 |
44.7 |
57.2 |
40.9 |
52.7 |
|
Operating Lease Payments Due in Year 2 |
8.7 |
21.2 |
35.3 |
24.6 |
33.3 |
|
Operating Lease Payments Due in Year 3 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Payments Due in Year 4 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Payments Due in Year 5 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
17.5 |
23.9 |
44.3 |
28.8 |
35.1 |
|
Operating Lease Pymts. Due in 4-5 Years |
17.5 |
5.4 |
17.9 |
8.5 |
3.6 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.2 |
12.2 |
0.0 |
0.0 |
0.0 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Non-Cash Items |
4,722.4 |
3,570.6 |
1,288.0 |
1,526.7 |
1,141.9 |
|
Non-Cash Items |
4,722.4 |
3,570.6 |
1,288.0 |
1,526.7 |
1,141.9 |
|
Taxes Payable |
- |
- |
-273.5 |
-301.3 |
-227.5 |
|
Other Operating Cash Flow |
-518.2 |
-387.9 |
- |
- |
- |
|
Changes in Working Capital |
-518.2 |
-387.9 |
-273.5 |
-301.3 |
-227.5 |
|
Cash from Operating Activities |
4,204.2 |
3,182.7 |
1,014.5 |
1,225.5 |
914.4 |
|
|
|
|
|
|
|
|
Other Investing Cash Flow |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
Other Investing Cash Flow Items, Total |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
Cash from Investing Activities |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
Financing Cash Flow Items |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
Cash from Financing Activities |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-67.8 |
11.9 |
21.0 |
-17.1 |
23.9 |
|
Net Change in Cash |
1,304.5 |
1,203.2 |
1,273.6 |
721.1 |
212.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
4,318.5 |
3,076.1 |
2,029.1 |
1,499.4 |
1,086.2 |
|
Net Cash - Ending Balance |
5,623.0 |
4,279.3 |
3,302.8 |
2,220.6 |
1,299.0 |
|
Cash Interest Paid |
- |
- |
273.5 |
301.3 |
227.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Revenue |
27,356.5 |
21,820.9 |
18,329.0 |
12,840.1 |
8,503.9 |
|
Total Revenue |
27,356.5 |
21,820.9 |
18,329.0 |
12,840.1 |
8,503.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
15,905.8 |
13,188.4 |
11,060.4 |
7,936.7 |
5,424.0 |
|
Research & Development Expenses |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Selling, General & Administrative Expens |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Operating Expenses |
101.5 |
59.7 |
4,820.8 |
3,577.9 |
2,352.9 |
|
Other Operating Income/Loss |
- |
- |
73.7 |
77.7 |
106.0 |
|
Total Operating Expense |
23,032.2 |
18,739.1 |
15,954.9 |
11,592.3 |
7,882.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Loss |
-182.6 |
240.4 |
-776.1 |
-30.6 |
- |
|
Financing Costs |
-88.2 |
-56.7 |
-194.7 |
-168.3 |
-38.9 |
|
Share of Losses of Associates |
-1.3 |
-23.9 |
-28.4 |
-7.3 |
-15.0 |
|
Net Income Before Taxes |
4,052.2 |
3,241.7 |
1,375.0 |
1,041.7 |
567.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
542.5 |
566.5 |
- |
- |
54.7 |
|
Net Income After Taxes |
3,509.7 |
2,675.2 |
1,375.0 |
1,041.7 |
512.4 |
|
|
|
|
|
|
|
|
Minority Interets |
-0.4 |
-3.1 |
- |
- |
-0.2 |
|
Net Income Before Extra. Items |
3,509.2 |
2,672.1 |
1,375.0 |
1,041.7 |
512.2 |
|
Net Income |
3,509.2 |
2,672.1 |
1,375.0 |
1,041.7 |
512.2 |
|
|
|
|
|
|
|
|
Income Tax & Minority Interest |
- |
- |
-223.7 |
-84.8 |
- |
|
Income Available to Com Excl ExtraOrd |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Diluted Net Income |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
4,052.2 |
3,241.7 |
1,375.0 |
1,041.7 |
567.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
542.5 |
566.5 |
- |
- |
54.7 |
|
Normalized Income After Taxes |
3,509.7 |
2,675.2 |
1,375.0 |
1,041.7 |
512.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Interest Expense, Supplemental |
88.2 |
56.7 |
194.7 |
168.3 |
38.9 |
|
Research & Development Exp, Supplemental |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Rental Expense, Supplemental |
279.5 |
261.5 |
166.8 |
145.7 |
117.4 |
|
Current tax PRC enterprise income tax - |
588.1 |
456.6 |
- |
- |
- |
|
Under Provision of Prior Years |
16.1 |
-10.2 |
- |
- |
- |
|
Overseas tax - current year |
240.1 |
227.5 |
- |
- |
- |
|
Provision in respect of Prior Year |
-11.2 |
13.8 |
- |
- |
- |
|
Current Tax - Total |
833.1 |
687.6 |
- |
- |
- |
|
Deferred Tax |
-290.6 |
-121.1 |
- |
- |
- |
|
Deferred Tax - Total |
-290.6 |
-121.1 |
- |
- |
- |
|
Income Tax - Total |
542.5 |
566.5 |
- |
- |
- |
|
Other Pension, Net - Domestic |
427.4 |
236.4 |
- |
- |
- |
|
Domestic Pension Plan Expense |
427.4 |
236.4 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
402.6 |
302.6 |
- |
- |
- |
|
Total Pension Expense |
830.0 |
539.0 |
- |
- |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate |
6.5897 |
6.827 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalent |
- |
- |
3,080.6 |
1,892.3 |
1,056.0 |
|
Deposits with banks |
849.1 |
270.0 |
- |
- |
- |
|
Cash & Bank Balances |
4,926.9 |
4,011.9 |
- |
- |
- |
|
Trade & Other Receivables |
- |
- |
8,850.5 |
5,488.1 |
3,650.1 |
|
Trade & Other Receivables |
7,929.5 |
8,234.4 |
- |
- |
- |
|
Provision for Doubtful Accounts |
-628.7 |
-635.9 |
- |
- |
- |
|
Gross amount due from customers for cont |
1,062.9 |
623.0 |
- |
- |
- |
|
Non-trade receivables |
2,095.8 |
1,047.9 |
- |
- |
- |
|
Non-current Receivable |
-17.6 |
0.0 |
- |
- |
- |
|
Invetsments |
- |
- |
- |
- |
0.1 |
|
Raw Materials |
982.0 |
683.6 |
601.0 |
537.7 |
314.3 |
|
Work In progress |
409.3 |
306.1 |
307.7 |
269.3 |
184.6 |
|
Finished Goods |
868.9 |
769.0 |
872.6 |
810.3 |
459.6 |
|
Goods Delivered but not Completely Insta |
1,923.0 |
1,895.4 |
1,596.3 |
649.9 |
462.0 |
|
Other Financial Assets |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Total Current Assets |
21,665.2 |
18,251.9 |
15,308.8 |
9,647.6 |
6,126.6 |
|
|
|
|
|
|
|
|
Land & Buildings |
615.4 |
451.4 |
- |
- |
- |
|
Machinery, Electronic Equipment & Other |
1,660.8 |
1,459.4 |
1,321.0 |
1,060.0 |
817.3 |
|
Motor Vehicles |
55.7 |
51.4 |
55.8 |
52.6 |
43.9 |
|
Construction in Progress |
168.3 |
299.1 |
123.0 |
47.9 |
28.3 |
|
Investment Property |
65.9 |
63.6 |
63.6 |
59.4 |
52.5 |
|
Decoration & Leasehold Improvements |
412.2 |
277.1 |
257.2 |
216.7 |
191.6 |
|
Depreciation |
-1,563.3 |
-1,383.8 |
-1,181.1 |
-903.4 |
-615.6 |
|
Buildings |
- |
- |
428.2 |
398.5 |
372.2 |
|
Long-Term Leasehold Prepayments |
- |
- |
54.9 |
52.2 |
49.6 |
|
Intangible |
254.8 |
194.7 |
- |
- |
- |
|
Amortization |
-156.6 |
-113.7 |
- |
- |
- |
|
Trade and other receivables |
17.6 |
0.0 |
- |
- |
- |
|
Invetsments in Associates & Jointly Cont |
46.3 |
45.6 |
- |
- |
- |
|
Other Non-Current Financial Assets |
9.7 |
15.8 |
- |
- |
- |
|
Intangible Assets |
- |
- |
18.6 |
15.0 |
10.9 |
|
Investment |
- |
- |
104.8 |
85.4 |
237.3 |
|
Deferred Tax Assets |
1,077.7 |
753.9 |
548.5 |
365.0 |
181.5 |
|
Other Non-Current Assets |
78.5 |
89.5 |
- |
- |
- |
|
Long-Term Prepayments |
- |
- |
39.3 |
0.0 |
- |
|
Total Assets |
24,407.9 |
20,456.0 |
17,142.7 |
11,096.9 |
7,496.2 |
|
|
|
|
|
|
|
|
Borrowings |
407.5 |
1,155.3 |
- |
- |
- |
|
Interets-Bearing Loans & Borrowings |
- |
- |
1,902.9 |
158.6 |
332.9 |
|
Income tax Payable |
634.9 |
541.4 |
198.6 |
94.5 |
163.3 |
|
Trade Payables |
5,204.9 |
4,158.9 |
6,078.3 |
4,247.9 |
2,746.1 |
|
Bills Payable |
872.4 |
2,005.3 |
- |
- |
- |
|
Gross Amount Due to Customers for Contra |
307.0 |
114.4 |
- |
- |
- |
|
Non-Trade Payables & Accrued Expenses |
5,809.1 |
3,976.7 |
- |
- |
- |
|
Dividends Payables |
- |
- |
14.7 |
0.0 |
0.0 |
|
Other Payables |
- |
- |
2,589.2 |
1,781.6 |
1,436.9 |
|
Provisions for Warranties |
236.1 |
172.1 |
188.0 |
151.2 |
80.1 |
|
Total Current Liabilities |
13,471.9 |
12,124.1 |
10,971.8 |
6,433.8 |
4,759.4 |
|
|
|
|
|
|
|
|
Borrowings |
1,358.9 |
1,243.6 |
- |
- |
- |
|
Interets-Bearing Loans & Borrowings |
- |
- |
150.4 |
215.3 |
39.8 |
|
Total Long Term Debt |
1,358.9 |
1,243.6 |
150.4 |
215.3 |
39.8 |
|
|
|
|
|
|
|
|
Defined Benefit Post-Employment Obligati |
902.9 |
514.4 |
- |
- |
- |
|
Deferred Government Grants |
200.2 |
136.7 |
- |
- |
- |
|
Other Payables |
- |
- |
500.9 |
336.4 |
25.9 |
|
Deferred Tax Liabilities |
89.5 |
92.4 |
29.8 |
0.0 |
- |
|
Minority Interets |
4.4 |
9.2 |
4.9 |
127.5 |
4.3 |
|
Total Liabilities |
16,027.9 |
14,120.4 |
11,657.8 |
7,113.1 |
4,829.3 |
|
|
|
|
|
|
|
|
Equity Attributable to Equity Holders |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Capital & Reserves |
- |
- |
5,484.9 |
3,983.9 |
2,666.9 |
|
Total Equity |
8,380.0 |
6,335.6 |
5,484.9 |
3,983.9 |
2,666.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
24,407.9 |
20,456.0 |
17,142.7 |
11,096.9 |
7,496.2 |
|
|
|
|
|
|
|
|
Accumulated Intangible Amort, Suppl. |
156.6 |
113.7 |
- |
- |
- |
|
Full-Time Employees |
110,000 |
95,000 |
37,000 |
35,000 |
2,000 |
|
Operating Lease Pymts. Due within 1Year |
37.0 |
44.7 |
54.3 |
36.3 |
43.7 |
|
Operating Lease Payments Due in Year 2 |
- |
21.2 |
33.5 |
21.8 |
27.6 |
|
Operating Lease Payments Due in Year 5 |
34.9 |
8.1 |
25.5 |
11.3 |
4.5 |
|
Remaining Period |
0.2 |
12.2 |
- |
- |
- |
|
Total Operating Leases |
72.1 |
86.1 |
113.4 |
69.4 |
75.8 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts from Customers |
33,818.6 |
24,272.0 |
- |
- |
- |
|
Cash Paid to Suppliers & Employees |
-29,096.2 |
-20,701.3 |
- |
- |
- |
|
Other Operating Cash Flows |
-518.2 |
-387.9 |
- |
- |
- |
|
Cash Generated from Operations |
- |
- |
1,201.2 |
1,301.0 |
928.4 |
|
Interest & Income Tax Paid |
- |
- |
-255.1 |
-256.7 |
-185.0 |
|
Cash from Operating Activities |
4,204.2 |
3,182.7 |
946.1 |
1,044.3 |
743.4 |
|
|
|
|
|
|
|
|
Cash Flow from Investing Activities |
-629.6 |
-764.0 |
-1,828.8 |
-201.8 |
-78.2 |
|
Cash from Investing Activities |
-629.6 |
-764.0 |
-1,828.8 |
-201.8 |
-78.2 |
|
|
|
|
|
|
|
|
Cash Flow from Financing Activities |
-2,202.2 |
-1,227.3 |
2,050.9 |
-213.4 |
-511.6 |
|
Cash from Financing Activities |
-2,202.2 |
-1,227.3 |
2,050.9 |
-213.4 |
-511.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-67.8 |
11.9 |
19.5 |
-14.6 |
19.4 |
|
Net Change in Cash |
1,304.5 |
1,203.2 |
1,187.7 |
614.5 |
173.0 |
|
|
|
|
|
|
|
|
Cash Begining of Year |
4,318.5 |
3,076.1 |
1,892.3 |
1,277.7 |
883.0 |
|
Cash Ending of Year |
5,623.0 |
4,279.3 |
3,080.0 |
1,892.3 |
1,056.0 |
|
Cash Interest Paid |
- |
- |
255.1 |
256.7 |
185.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
Key Indicators USD (mil) |
||||||
|
 |
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
|
Total Revenue1 |
- |
- |
27,356.5 |
24.23% |
130.77% |
89.59% |
|
Research & Development1 |
- |
- |
2,445.9 |
24.11% |
- |
- |
|
Operating Income1 |
- |
- |
4,324.3 |
39.04% |
171.39% |
93.65% |
|
Income Available to Common Excl Extraord Items1 |
- |
- |
3,509.2 |
30.14% |
176.56% |
94.18% |
|
Cash from Operating Activities2 |
- |
- |
4,204.2 |
30.90% |
185.30% |
99.75% |
|
Free Cash Flow |
- |
- |
4,318.6 |
- |
- |
- |
|
Total Assets3 |
- |
- |
24,407.9 |
15.17% |
134.29% |
86.32% |
|
Total Liabilities3 |
- |
- |
16,027.9 |
9.56% |
136.18% |
90.95% |
|
Total Long Term Debt3 |
- |
- |
1,358.9 |
5.48% |
232.94% |
95.30% |
|
Employees3 |
- |
- |
110000 |
15.79% |
46.48% |
- |
|
1-ExchangeRate: CNY to USD Average for Period |
 |
 |
6.768989 |
 |
 |
 |
|
2-ExchangeRate: CNY to USD Average for Period |
 |
 |
6.768989 |
 |
 |
 |
|
3-ExchangeRate: CNY to USD Period End Date |
 |
 |
6.589700 |
 |
 |
 |
|
Key Ratios |
|||||
|
 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Profitability |
|||||
|
Gross Margin |
41.86% |
39.56% |
6.12% |
5.89% |
5.59% |
|
Operating Margin |
15.81% |
14.12% |
2.00% |
1.50% |
1.13% |
|
Pretax Margin |
14.81% |
14.86% |
1.16% |
1.25% |
1.03% |
|
Net Profit Margin |
12.83% |
12.25% |
0.97% |
1.15% |
0.93% |
|
Financial Strength |
|||||
|
Current Ratio |
1.61 |
1.51 |
1.40 |
1.50 |
1.29 |
|
Long Term Debt/Equity |
0.16 |
0.20 |
0.03 |
0.05 |
0.01 |
|
Total Debt/Equity |
0.21 |
0.38 |
0.37 |
0.09 |
0.14 |
|
Management Effectiveness |
|||||
|
Return on Assets |
15.81% |
23.18% |
9.65% |
11.35% |
7.78% |
|
Return on Equity |
48.24% |
74.46% |
24.05% |
29.16% |
20.27% |
|
Efficiency |
|||||
|
Receivables Turnover |
2.80 |
4.11 |
2.54 |
2.85 |
2.87 |
|
Inventory Turnover |
4.10 |
6.32 |
3.88 |
4.37 |
4.14 |
|
Asset Turnover |
1.23 |
1.89 |
1.29 |
1.40 |
1.29 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
Revenue |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
Total Revenue |
27,356.5 |
21,820.9 |
19,654.7 |
15,068.0 |
10,460.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
15,905.8 |
13,188.4 |
11,860.4 |
9,313.8 |
6,671.7 |
|
Cost of Revenue, Total |
15,905.8 |
13,188.4 |
11,860.4 |
9,313.8 |
6,671.7 |
|
Gross Profit |
11,450.8 |
8,632.5 |
7,794.3 |
5,754.2 |
3,788.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Total Selling/General/Administrative Expenses |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Research & Development |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Other Operating Expense |
101.5 |
59.7 |
5,169.5 |
4,198.7 |
2,894.1 |
|
Other, Net |
- |
- |
79.0 |
91.1 |
130.4 |
|
Other Operating Expenses, Total |
101.5 |
59.7 |
5,248.5 |
4,289.8 |
3,024.5 |
|
Total Operating Expense |
23,032.2 |
18,739.1 |
17,108.9 |
13,603.6 |
9,696.2 |
|
|
|
|
|
|
|
|
Operating Income |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-88.2 |
-56.7 |
-208.8 |
-197.5 |
-47.9 |
|
Interest Expense, Net Non-Operating |
-88.2 |
-56.7 |
-208.8 |
-197.5 |
-47.9 |
|
Investment Income -
Non-Operating |
-183.9 |
216.5 |
-862.6 |
-44.5 |
-18.5 |
|
Interest/Investment Income - Non-Operating |
-183.9 |
216.5 |
-862.6 |
-44.5 |
-18.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-272.1 |
159.9 |
-1,071.4 |
-241.9 |
-66.4 |
|
Income Before Tax |
4,052.2 |
3,241.7 |
1,474.4 |
1,222.4 |
697.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
542.5 |
566.5 |
- |
- |
67.2 |
|
Income After Tax |
3,509.7 |
2,675.2 |
1,474.4 |
1,222.4 |
630.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
-3.1 |
- |
- |
-0.2 |
|
Net Income Before Extraord Items |
3,509.2 |
2,672.1 |
1,474.4 |
1,222.4 |
630.0 |
|
Net Income |
3,509.2 |
2,672.1 |
1,474.4 |
1,222.4 |
630.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
-239.9 |
-99.5 |
- |
|
Total Adjustments to Net Income |
- |
- |
-239.9 |
-99.5 |
- |
|
Income Available to Common Excl Extraord Items |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Diluted Net Income |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
88.2 |
56.7 |
208.8 |
197.5 |
47.9 |
|
Normalized Income Before Tax |
4,052.2 |
3,241.7 |
1,474.4 |
1,222.4 |
697.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
542.5 |
566.5 |
- |
- |
67.2 |
|
Normalized Income After Tax |
3,509.7 |
2,675.2 |
1,474.4 |
1,222.4 |
630.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3,509.2 |
2,672.1 |
1,234.5 |
1,122.9 |
630.0 |
|
|
|
|
|
|
|
|
Rental Expenses |
279.5 |
261.5 |
178.9 |
171.0 |
144.4 |
|
Research & Development Exp, Supplemental |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Normalized EBIT |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
Normalized EBITDA |
4,324.3 |
3,081.8 |
2,545.8 |
1,464.4 |
763.8 |
|
Current Tax - Domestic |
588.1 |
456.6 |
- |
- |
- |
|
Current Tax - Foreign |
228.8 |
241.3 |
- |
- |
- |
|
Current Tax - Other |
16.1 |
-10.2 |
- |
- |
- |
|
Current Tax - Total |
833.1 |
687.6 |
- |
- |
- |
|
Deferred Tax - Domestic |
-290.6 |
-121.1 |
- |
- |
- |
|
Deferred Tax - Total |
-290.6 |
-121.1 |
- |
- |
- |
|
Income Tax - Total |
542.5 |
566.5 |
- |
- |
- |
|
Other Pension, Net - Domestic |
427.4 |
236.4 |
- |
- |
- |
|
Domestic Pension Plan Expense |
427.4 |
236.4 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
402.6 |
302.6 |
- |
- |
- |
|
Total Pension Expense |
830.0 |
539.0 |
- |
- |
- |
|
Total Plan Other Expense |
427.4 |
236.4 |
- |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate |
6.5897 |
6.827 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
4,926.9 |
4,011.9 |
- |
- |
- |
|
Cash & Equivalents |
- |
- |
3,243.3 |
2,132.7 |
1,272.2 |
|
Short Term Investments |
849.1 |
270.0 |
- |
- |
0.1 |
|
Cash and Short Term Investments |
5,776.0 |
4,281.8 |
3,243.3 |
2,132.7 |
1,272.3 |
|
Accounts Receivable -
Trade, Gross |
7,929.5 |
8,234.4 |
- |
- |
- |
|
Provision for Doubtful
Accounts |
-628.7 |
-635.9 |
- |
- |
- |
|
Trade Accounts Receivable - Net |
8,363.7 |
8,221.5 |
9,318.0 |
6,185.4 |
4,397.1 |
|
Other Receivables |
2,078.2 |
1,047.9 |
- |
- |
- |
|
Total Receivables, Net |
10,441.9 |
9,269.4 |
9,318.0 |
6,185.4 |
4,397.1 |
|
Inventories - Finished Goods |
868.9 |
769.0 |
918.7 |
913.3 |
553.6 |
|
Inventories - Work In Progress |
409.3 |
306.1 |
324.0 |
303.6 |
222.4 |
|
Inventories - Raw Materials |
982.0 |
683.6 |
632.8 |
606.1 |
378.6 |
|
Inventories - Other |
1,923.0 |
1,895.4 |
1,680.6 |
732.4 |
556.5 |
|
Total Inventory |
4,183.2 |
3,654.2 |
3,556.1 |
2,555.4 |
1,711.2 |
|
Other Current Assets |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Other Current Assets, Total |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Total Current Assets |
21,665.2 |
18,251.9 |
16,117.4 |
10,873.5 |
7,380.6 |
|
|
|
|
|
|
|
|
Buildings |
412.2 |
277.1 |
721.6 |
693.4 |
679.3 |
|
Land/Improvements |
615.4 |
451.4 |
- |
- |
- |
|
Machinery/Equipment |
1,716.5 |
1,510.8 |
1,449.5 |
1,254.0 |
1,037.4 |
|
Construction in
Progress |
168.3 |
299.1 |
129.5 |
54.0 |
34.0 |
|
Other
Property/Plant/Equipment |
65.9 |
63.6 |
67.0 |
67.0 |
63.2 |
|
Property/Plant/Equipment - Gross |
2,978.1 |
2,602.0 |
2,367.7 |
2,068.3 |
1,813.9 |
|
Accumulated Depreciation |
-1,563.3 |
-1,383.8 |
-1,243.5 |
-1,018.2 |
-741.5 |
|
Property/Plant/Equipment - Net |
1,414.8 |
1,218.3 |
1,124.2 |
1,050.1 |
1,072.3 |
|
Intangibles - Gross |
254.8 |
194.7 |
- |
- |
- |
|
Accumulated Intangible Amortization |
-156.6 |
-113.7 |
- |
- |
- |
|
Intangibles, Net |
98.2 |
81.0 |
19.6 |
16.9 |
13.2 |
|
LT Investment - Affiliate Companies |
46.3 |
45.6 |
- |
- |
- |
|
LT Investments - Other |
- |
- |
110.3 |
96.3 |
285.9 |
|
Long Term Investments |
46.3 |
45.6 |
110.3 |
96.3 |
285.9 |
|
Note Receivable - Long Term |
17.6 |
0.0 |
- |
- |
- |
|
Deferred Income Tax - Long Term Asset |
1,077.7 |
753.9 |
577.5 |
411.4 |
218.7 |
|
Other Long Term Assets |
88.2 |
105.3 |
99.2 |
58.8 |
59.8 |
|
Other Long Term Assets, Total |
1,165.9 |
859.2 |
676.7 |
470.2 |
278.5 |
|
Total Assets |
24,407.9 |
20,456.0 |
18,048.2 |
12,507.0 |
9,030.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
6,384.4 |
6,278.6 |
6,399.4 |
4,787.7 |
3,308.2 |
|
Notes Payable/Short Term Debt |
407.5 |
1,155.3 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
2,003.4 |
178.8 |
401.0 |
|
Dividends Payable |
- |
- |
15.5 |
0.0 |
0.1 |
|
Income Taxes Payable |
634.9 |
541.4 |
209.1 |
106.5 |
196.7 |
|
Other Payables |
5,809.1 |
3,976.7 |
2,726.0 |
2,008.0 |
1,731.0 |
|
Other Current Liabilities |
236.1 |
172.1 |
197.9 |
170.4 |
96.5 |
|
Other Current liabilities, Total |
6,680.1 |
4,690.2 |
3,148.5 |
2,284.9 |
2,024.3 |
|
Total Current Liabilities |
13,471.9 |
12,124.1 |
11,551.4 |
7,251.4 |
5,733.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,358.9 |
1,243.6 |
158.3 |
242.6 |
47.9 |
|
Total Long Term Debt |
1,358.9 |
1,243.6 |
158.3 |
242.6 |
47.9 |
|
Total Debt |
1,766.4 |
2,398.9 |
2,161.7 |
421.4 |
448.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
89.5 |
92.4 |
31.4 |
0.0 |
- |
|
Deferred Income Tax |
89.5 |
92.4 |
31.4 |
0.0 |
- |
|
Minority Interest |
4.4 |
9.2 |
5.2 |
143.7 |
5.2 |
|
Pension Benefits - Underfunded |
902.9 |
514.4 |
- |
- |
- |
|
Other Long Term Liabilities |
200.2 |
136.7 |
527.4 |
379.2 |
31.2 |
|
Other Liabilities, Total |
1,103.1 |
651.1 |
527.4 |
379.2 |
31.2 |
|
Total Liabilities |
16,027.9 |
14,120.4 |
12,273.6 |
8,016.9 |
5,817.8 |
|
|
|
|
|
|
|
|
Common Stock |
- |
- |
5,774.6 |
4,490.1 |
3,212.7 |
|
Common Stock |
- |
- |
5,774.6 |
4,490.1 |
3,212.7 |
|
Other Equity |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Other Equity, Total |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Total Equity |
8,380.0 |
6,335.6 |
5,774.6 |
4,490.1 |
3,212.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
24,407.9 |
20,456.0 |
18,048.2 |
12,507.0 |
9,030.4 |
|
|
|
|
|
|
|
|
Employees |
110,000 |
95,000 |
37,000 |
35,000 |
2,000 |
|
Accumulated Intangible Amort, Suppl. |
156.6 |
113.7 |
- |
- |
- |
|
Total Operating Leases, Supplemental |
72.1 |
86.1 |
119.4 |
78.3 |
91.4 |
|
Operating Lease Payments Due in Year 1 |
37.0 |
44.7 |
57.2 |
40.9 |
52.7 |
|
Operating Lease Payments Due in Year 2 |
8.7 |
21.2 |
35.3 |
24.6 |
33.3 |
|
Operating Lease Payments Due in Year 3 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Payments Due in Year 4 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Payments Due in Year 5 |
8.7 |
2.7 |
9.0 |
4.3 |
1.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
17.5 |
23.9 |
44.3 |
28.8 |
35.1 |
|
Operating Lease Pymts. Due in 4-5 Years |
17.5 |
5.4 |
17.9 |
8.5 |
3.6 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.2 |
12.2 |
0.0 |
0.0 |
0.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Non-Cash Items |
4,722.4 |
3,570.6 |
1,288.0 |
1,526.7 |
1,141.9 |
|
Non-Cash Items |
4,722.4 |
3,570.6 |
1,288.0 |
1,526.7 |
1,141.9 |
|
Taxes Payable |
- |
- |
-273.5 |
-301.3 |
-227.5 |
|
Other Operating Cash Flow |
-518.2 |
-387.9 |
- |
- |
- |
|
Changes in Working Capital |
-518.2 |
-387.9 |
-273.5 |
-301.3 |
-227.5 |
|
Cash from Operating Activities |
4,204.2 |
3,182.7 |
1,014.5 |
1,225.5 |
914.4 |
|
|
|
|
|
|
|
|
Other Investing Cash Flow |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
Other Investing Cash Flow Items, Total |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
Cash from Investing Activities |
-629.6 |
-764.0 |
-1,961.1 |
-236.8 |
-96.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
Financing Cash Flow Items |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
Cash from Financing Activities |
-2,202.2 |
-1,227.3 |
2,199.3 |
-250.4 |
-629.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-67.8 |
11.9 |
21.0 |
-17.1 |
23.9 |
|
Net Change in Cash |
1,304.5 |
1,203.2 |
1,273.6 |
721.1 |
212.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
4,318.5 |
3,076.1 |
2,029.1 |
1,499.4 |
1,086.2 |
|
Net Cash - Ending Balance |
5,623.0 |
4,279.3 |
3,302.8 |
2,220.6 |
1,299.0 |
|
Cash Interest Paid |
- |
- |
273.5 |
301.3 |
227.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Revenue |
27,356.5 |
21,820.9 |
18,329.0 |
12,840.1 |
8,503.9 |
|
Total Revenue |
27,356.5 |
21,820.9 |
18,329.0 |
12,840.1 |
8,503.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
15,905.8 |
13,188.4 |
11,060.4 |
7,936.7 |
5,424.0 |
|
Research & Development Expenses |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Selling, General & Administrative Expens |
4,579.1 |
3,538.1 |
- |
- |
- |
|
Operating Expenses |
101.5 |
59.7 |
4,820.8 |
3,577.9 |
2,352.9 |
|
Other Operating Income/Loss |
- |
- |
73.7 |
77.7 |
106.0 |
|
Total Operating Expense |
23,032.2 |
18,739.1 |
15,954.9 |
11,592.3 |
7,882.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Loss |
-182.6 |
240.4 |
-776.1 |
-30.6 |
- |
|
Financing Costs |
-88.2 |
-56.7 |
-194.7 |
-168.3 |
-38.9 |
|
Share of Losses of Associates |
-1.3 |
-23.9 |
-28.4 |
-7.3 |
-15.0 |
|
Net Income Before Taxes |
4,052.2 |
3,241.7 |
1,375.0 |
1,041.7 |
567.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
542.5 |
566.5 |
- |
- |
54.7 |
|
Net Income After Taxes |
3,509.7 |
2,675.2 |
1,375.0 |
1,041.7 |
512.4 |
|
|
|
|
|
|
|
|
Minority Interets |
-0.4 |
-3.1 |
- |
- |
-0.2 |
|
Net Income Before Extra. Items |
3,509.2 |
2,672.1 |
1,375.0 |
1,041.7 |
512.2 |
|
Net Income |
3,509.2 |
2,672.1 |
1,375.0 |
1,041.7 |
512.2 |
|
|
|
|
|
|
|
|
Income Tax & Minority Interest |
- |
- |
-223.7 |
-84.8 |
- |
|
Income Available to Com Excl ExtraOrd |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Diluted Net Income |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
4,052.2 |
3,241.7 |
1,375.0 |
1,041.7 |
567.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
542.5 |
566.5 |
- |
- |
54.7 |
|
Normalized Income After Taxes |
3,509.7 |
2,675.2 |
1,375.0 |
1,041.7 |
512.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3,509.2 |
2,672.1 |
1,151.3 |
956.9 |
512.2 |
|
|
|
|
|
|
|
|
Interest Expense, Supplemental |
88.2 |
56.7 |
194.7 |
168.3 |
38.9 |
|
Research & Development Exp, Supplemental |
2,445.9 |
1,952.9 |
- |
- |
- |
|
Rental Expense, Supplemental |
279.5 |
261.5 |
166.8 |
145.7 |
117.4 |
|
Current tax PRC enterprise income tax - |
588.1 |
456.6 |
- |
- |
- |
|
Under Provision of Prior Years |
16.1 |
-10.2 |
- |
- |
- |
|
Overseas tax - current year |
240.1 |
227.5 |
- |
- |
- |
|
Provision in respect of Prior Year |
-11.2 |
13.8 |
- |
- |
- |
|
Current Tax - Total |
833.1 |
687.6 |
- |
- |
- |
|
Deferred Tax |
-290.6 |
-121.1 |
- |
- |
- |
|
Deferred Tax - Total |
-290.6 |
-121.1 |
- |
- |
- |
|
Income Tax - Total |
542.5 |
566.5 |
- |
- |
- |
|
Other Pension, Net - Domestic |
427.4 |
236.4 |
- |
- |
- |
|
Domestic Pension Plan Expense |
427.4 |
236.4 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
402.6 |
302.6 |
- |
- |
- |
|
Total Pension Expense |
830.0 |
539.0 |
- |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate |
6.5897 |
6.827 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalent |
- |
- |
3,080.6 |
1,892.3 |
1,056.0 |
|
Deposits with banks |
849.1 |
270.0 |
- |
- |
- |
|
Cash & Bank Balances |
4,926.9 |
4,011.9 |
- |
- |
- |
|
Trade & Other Receivables |
- |
- |
8,850.5 |
5,488.1 |
3,650.1 |
|
Trade & Other Receivables |
7,929.5 |
8,234.4 |
- |
- |
- |
|
Provision for Doubtful Accounts |
-628.7 |
-635.9 |
- |
- |
- |
|
Gross amount due from customers for cont |
1,062.9 |
623.0 |
- |
- |
- |
|
Non-trade receivables |
2,095.8 |
1,047.9 |
- |
- |
- |
|
Non-current Receivable |
-17.6 |
0.0 |
- |
- |
- |
|
Invetsments |
- |
- |
- |
- |
0.1 |
|
Raw Materials |
982.0 |
683.6 |
601.0 |
537.7 |
314.3 |
|
Work In progress |
409.3 |
306.1 |
307.7 |
269.3 |
184.6 |
|
Finished Goods |
868.9 |
769.0 |
872.6 |
810.3 |
459.6 |
|
Goods Delivered but not Completely Insta |
1,923.0 |
1,895.4 |
1,596.3 |
649.9 |
462.0 |
|
Other Financial Assets |
1,264.1 |
1,046.6 |
- |
- |
- |
|
Total Current Assets |
21,665.2 |
18,251.9 |
15,308.8 |
9,647.6 |
6,126.6 |
|
|
|
|
|
|
|
|
Land & Buildings |
615.4 |
451.4 |
- |
- |
- |
|
Machinery, Electronic Equipment & Other |
1,660.8 |
1,459.4 |
1,321.0 |
1,060.0 |
817.3 |
|
Motor Vehicles |
55.7 |
51.4 |
55.8 |
52.6 |
43.9 |
|
Construction in Progress |
168.3 |
299.1 |
123.0 |
47.9 |
28.3 |
|
Investment Property |
65.9 |
63.6 |
63.6 |
59.4 |
52.5 |
|
Decoration & Leasehold Improvements |
412.2 |
277.1 |
257.2 |
216.7 |
191.6 |
|
Depreciation |
-1,563.3 |
-1,383.8 |
-1,181.1 |
-903.4 |
-615.6 |
|
Buildings |
- |
- |
428.2 |
398.5 |
372.2 |
|
Long-Term Leasehold Prepayments |
- |
- |
54.9 |
52.2 |
49.6 |
|
Intangible |
254.8 |
194.7 |
- |
- |
- |
|
Amortization |
-156.6 |
-113.7 |
- |
- |
- |
|
Trade and other receivables |
17.6 |
0.0 |
- |
- |
- |
|
Invetsments in Associates & Jointly Cont |
46.3 |
45.6 |
- |
- |
- |
|
Other Non-Current Financial Assets |
9.7 |
15.8 |
- |
- |
- |
|
Intangible Assets |
- |
- |
18.6 |
15.0 |
10.9 |
|
Investment |
- |
- |
104.8 |
85.4 |
237.3 |
|
Deferred Tax Assets |
1,077.7 |
753.9 |
548.5 |
365.0 |
181.5 |
|
Other Non-Current Assets |
78.5 |
89.5 |
- |
- |
- |
|
Long-Term Prepayments |
- |
- |
39.3 |
0.0 |
- |
|
Total Assets |
24,407.9 |
20,456.0 |
17,142.7 |
11,096.9 |
7,496.2 |
|
|
|
|
|
|
|
|
Borrowings |
407.5 |
1,155.3 |
- |
- |
- |
|
Interets-Bearing Loans & Borrowings |
- |
- |
1,902.9 |
158.6 |
332.9 |
|
Income tax Payable |
634.9 |
541.4 |
198.6 |
94.5 |
163.3 |
|
Trade Payables |
5,204.9 |
4,158.9 |
6,078.3 |
4,247.9 |
2,746.1 |
|
Bills Payable |
872.4 |
2,005.3 |
- |
- |
- |
|
Gross Amount Due to Customers for Contra |
307.0 |
114.4 |
- |
- |
- |
|
Non-Trade Payables & Accrued Expenses |
5,809.1 |
3,976.7 |
- |
- |
- |
|
Dividends Payables |
- |
- |
14.7 |
0.0 |
0.0 |
|
Other Payables |
- |
- |
2,589.2 |
1,781.6 |
1,436.9 |
|
Provisions for Warranties |
236.1 |
172.1 |
188.0 |
151.2 |
80.1 |
|
Total Current Liabilities |
13,471.9 |
12,124.1 |
10,971.8 |
6,433.8 |
4,759.4 |
|
|
|
|
|
|
|
|
Borrowings |
1,358.9 |
1,243.6 |
- |
- |
- |
|
Interets-Bearing Loans & Borrowings |
- |
- |
150.4 |
215.3 |
39.8 |
|
Total Long Term Debt |
1,358.9 |
1,243.6 |
150.4 |
215.3 |
39.8 |
|
|
|
|
|
|
|
|
Defined Benefit Post-Employment Obligati |
902.9 |
514.4 |
- |
- |
- |
|
Deferred Government Grants |
200.2 |
136.7 |
- |
- |
- |
|
Other Payables |
- |
- |
500.9 |
336.4 |
25.9 |
|
Deferred Tax Liabilities |
89.5 |
92.4 |
29.8 |
0.0 |
- |
|
Minority Interets |
4.4 |
9.2 |
4.9 |
127.5 |
4.3 |
|
Total Liabilities |
16,027.9 |
14,120.4 |
11,657.8 |
7,113.1 |
4,829.3 |
|
|
|
|
|
|
|
|
Equity Attributable to Equity Holders |
8,380.0 |
6,335.6 |
- |
- |
- |
|
Capital & Reserves |
- |
- |
5,484.9 |
3,983.9 |
2,666.9 |
|
Total Equity |
8,380.0 |
6,335.6 |
5,484.9 |
3,983.9 |
2,666.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
24,407.9 |
20,456.0 |
17,142.7 |
11,096.9 |
7,496.2 |
|
|
|
|
|
|
|
|
Accumulated Intangible Amort, Suppl. |
156.6 |
113.7 |
- |
- |
- |
|
Full-Time Employees |
110,000 |
95,000 |
37,000 |
35,000 |
2,000 |
|
Operating Lease Pymts. Due within 1Year |
37.0 |
44.7 |
54.3 |
36.3 |
43.7 |
|
Operating Lease Payments Due in Year 2 |
- |
21.2 |
33.5 |
21.8 |
27.6 |
|
Operating Lease Payments Due in Year 5 |
34.9 |
8.1 |
25.5 |
11.3 |
4.5 |
|
Remaining Period |
0.2 |
12.2 |
- |
- |
- |
|
Total Operating Leases |
72.1 |
86.1 |
113.4 |
69.4 |
75.8 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
1 |
1 |
1 |
|
Auditor |
KPMG Huazhen |
KPMG Huazhen |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts from Customers |
33,818.6 |
24,272.0 |
- |
- |
- |
|
Cash Paid to Suppliers & Employees |
-29,096.2 |
-20,701.3 |
- |
- |
- |
|
Other Operating Cash Flows |
-518.2 |
-387.9 |
- |
- |
- |
|
Cash Generated from Operations |
- |
- |
1,201.2 |
1,301.0 |
928.4 |
|
Interest & Income Tax Paid |
- |
- |
-255.1 |
-256.7 |
-185.0 |
|
Cash from Operating Activities |
4,204.2 |
3,182.7 |
946.1 |
1,044.3 |
743.4 |
|
|
|
|
|
|
|
|
Cash Flow from Investing Activities |
-629.6 |
-764.0 |
-1,828.8 |
-201.8 |
-78.2 |
|
Cash from Investing Activities |
-629.6 |
-764.0 |
-1,828.8 |
-201.8 |
-78.2 |
|
|
|
|
|
|
|
|
Cash Flow from Financing Activities |
-2,202.2 |
-1,227.3 |
2,050.9 |
-213.4 |
-511.6 |
|
Cash from Financing Activities |
-2,202.2 |
-1,227.3 |
2,050.9 |
-213.4 |
-511.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-67.8 |
11.9 |
19.5 |
-14.6 |
19.4 |
|
Net Change in Cash |
1,304.5 |
1,203.2 |
1,187.7 |
614.5 |
173.0 |
|
|
|
|
|
|
|
|
Cash Begining of Year |
4,318.5 |
3,076.1 |
1,892.3 |
1,277.7 |
883.0 |
|
Cash Ending of Year |
5,623.0 |
4,279.3 |
3,080.0 |
1,892.3 |
1,056.0 |
|
Cash Interest Paid |
- |
- |
255.1 |
256.7 |
185.0 |
|
|
|
Financials in: As Reported (mil)
|
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|
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|
|
|
Financials in: As Reported (mil)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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.