MIRA INFORM REPORT
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Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
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Name : |
JIANGSU YAWEI MACHINE TOOL CO LTD |
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Registered Office : |
Yawei Industrial Park, Longchuan Road,Jiangdu City, Yangzhou, 225200 |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.02.2000 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Research, Development, Manufacture, Processing and distribution of sheet shaping machine
tool products |
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No. of Employees
: |
787 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 & address
Jiangsu Yawei Machine Tool Co Ltd
Yawei Industrial Park
Longchuan Road,Jiangdu City
YANGZHOU, 225200
China
Tel: 86-514-86880522
Fax: 86-514-86880522
Web: www.yawei.cc
Synthesis
Employees: 787
Company Type: Public Independent
Traded: Shenzhen Stock Exchange: 002559
Incorporation Date:
12-Feb-2000
Auditor: Jiangsu Suyajincheng CPA
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Chinese
Renminbi
Annual Sales: 95.0
1
Net Income: 11.2
Total Assets: 105.0 2
Market Value: 408.2
(09-Dec-2011)
Business Description
JIANGSU YAWEI
MACHINE TOOL CO.LTD is principally engaged in the research, development,
manufacture, processing and distribution of sheet shaping machine tool
products. The Company primarily provides three categories of products: numeric
control metal sheet processing machine tools, including numeric control bending
machines, numeric control rotary-turret stamping machines, numeric control
plate shears and numeric control laser cutters; ordinary metal sheet processing
machine tools, including ordinary bending machines and ordinary plate shears,
as well as numeric control coil processing machines, including numeric control
uncoiling leveling shearing machines and numeric control uncoiling rolling
machines. Its products are applied in automobile, energy, railway, machinery,
metallurgy, ship, aerospace, military and other industries. The Company
distributes its products in domestic and overseas markets. For the six months
ended 30 June 2011, Jiangsu Yawei Machine Tool Co., Ltd.'s revenues increased
45% to RMB405.3M. The Company's net income for the period increased 32% to
RMB52.1M. Revenues reflect an increase in sales volume due to favorable market
demand. The Company's net income for the period was partially offset by higher
business tax and surcharges, as well as increased general & administrative
expenses.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2463 - Machine Tool and Parts Manufacturing
NACE 2002: 2942 - Manufacture of other metalworking
machine tools
NAICS 2002: 333512 - Machine
Tool (Metal Cutting Types) Manufacturing
UK SIC 2003: 2942 - Manufacture
of other metalworking machine tools
US SIC 1987: 3541 - Machine
Tools, Metal Cutting Types
Key Executives
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Name |
Title |
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Vice Chairman of the Board, General Manager |
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Finance Director, Deputy General Manager, Director |
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Secretary of the Board |
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Chief Technologist, Director |
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Deputy General Manager |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
|
Dividends |
2 |
Jiangsu Yawei Machine Tool Co Ltd
Announces FY 2010 Dividend Payment |
14-Apr-2011 |
|
Initial Public Offerings |
3 |
Jiangsu Yawei Machine Tool Co Ltd
Completes Initial Public Offering |
2-Mar-2011 |
* number of significant developments within the last 12 months
news
|
Title |
Date |
|
2011 H1 report: Jiangsu Yawei Machine Tool
(002559.SZ) |
7-Aug-2011 |
Financial Summary
As of 30-Sep-2011
Key Ratios Company
Industry
Current Ratio (MRQ) 3.71
Quick Ratio (MRQ) 2.54
Debt to Equity (MRQ) 0.03
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = CNY 6.768989
2 - Balance Sheet Item Exchange Rate: USD 1 = CNY 6.5897
Corporate Overview
Location
Yawei Industrial Park
Longchuan Road,Jiangdu City
YANGZHOU, 225200
China
Tel: 86-514-86880522
Fax: 86-514-86880522
Web : www.yawei.cc
Quote Symbol - Exchange
002559 - Shenzhen
Stock Exchange
Sales CNY(mil): 642.9
Assets CNY(mil): 692.0
Employees: 787
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous Capital Goods
Incorporation Date: 12-Feb-2000
Company Type: Public Independent
Quoted Status: Quoted
Secretary of the Board: Yansen
Xie
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2463 - Machine Tool and Parts Manufacturing
NACE 2002 Codes:
2942 - Manufacture of other metalworking machine tools
NAICS 2002 Codes:
333518 - Other Metalworking Machinery Manufacturing
333513 - Machine Tool (Metal Forming Types) Manufacturing
333512 - Machine Tool (Metal Cutting Types) Manufacturing
US SIC 1987:
3542 - Machine Tools, Metal Forming Types
3541 - Machine Tools, Metal Cutting Types
3549 - Metalworking Machinery, Not Elsewhere Classified
UK SIC 2003:
2942 - Manufacture of other metalworking machine tools
Business
Description
JIANGSU YAWEI
MACHINE TOOL CO.LTD is principally engaged in the research, development,
manufacture, processing and distribution of sheet shaping machine tool
products. The Company primarily provides three categories of products: numeric
control metal sheet processing machine tools, including numeric control bending
machines, numeric control rotary-turret stamping machines, numeric control
plate shears and numeric control laser cutters; ordinary metal sheet processing
machine tools, including ordinary bending machines and ordinary plate shears,
as well as numeric control coil processing machines, including numeric control
uncoiling leveling shearing machines and numeric control uncoiling rolling
machines. Its products are applied in automobile, energy, railway, machinery,
metallurgy, ship, aerospace, military and other industries. The Company
distributes its products in domestic and overseas markets. For the six months
ended 30 June 2011, Jiangsu Yawei Machine Tool Co., Ltd.'s revenues increased
45% to RMB405.3M. The Company's net income for the period increased 32% to
RMB52.1M. Revenues reflect an increase in sales volume due to favorable market
demand. The Company's net income for the period was partially offset by higher
business tax and surcharges, as well as increased general & administrative
expenses.
More Business
Descriptions
JIANGSU YAWEI
MACHINE TOOL CO LTD was established in January 1956 in Jiang Su.It was
registered as a Joint-stock company.The Company belongs to the Medium and Heavy
industry specialized in Metal Forming Machine Tool Manufacturing. Main products
include: Bending machine; Hydraulic pendulum plate shears; Shingle equipment.It
uses the following brand: YAWEI. Production output: Shingle equipment: 2005
output 9876(ton), 2004 output 7967.9(ton). Having developed for more than a
half century, Jiangsu Yawei Machine Tool Co.,Ltd has now an area of
200,000m2,assets more than RMB 200 millions yuan, products categories covering
sheet metal processing and coil metal processing, being the first in china in
manufacturing pressbrakes and shearing machines, the technical level and output
of which have been in first range in the same trade of china for many years.On
the middle of year'90s Jiangsu Yawei took a lead in china in developing
complete set of coil metalprocessing lines, and has kept the first place in
sale amount in china since the first decoil-level-slit-shear line was sold.
Jiangsu Yawei enlarge actively the opening to the outside,looking for the joint
ventures and cooperation with the advanced members of the same trade.Now
Jiangsu Yawei Machine-Tool Co.Ltd has two joint ventures as it's son companies:
Sino-Swiss Jiangsu EPT Metal-Forming Machine Tool Co.Ltd;Sino-Italy Jiangsu
Yawei Selema Coil Line Processing Co.,Ltd.
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EXECUTIVE REPORT
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Vice Chairman of the Board, General Manager |
Vice-Chairman |
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Vice Chairman of the Board |
Vice-Chairman |
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Independent Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Finance Director, Deputy General Manager, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Deputy General Manager, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Chief Technologist, Director |
Director/Board Member |
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Executives |
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Vice Chairman of the Board, General Manager |
Division Head Executive |
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Secretary of the Board |
Company Secretary |
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Finance Director, Deputy General Manager, Director |
Finance Executive |
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Chief Technologist, Director |
Engineering/Technical Executive |
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Deputy General Manager |
Other |
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Deputy General Manager |
Other |
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Deputy General Manager |
Other |
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Significant Developments
Jiangsu Yawei Machine Tool Co Ltd Announces FY 2010 Dividend Payment Apr 14, 2011
Jiangsu Yawei Machine Tool Co Ltd announced that it will pay the cash dividend of RMB 1.8 per share (after tax) to shareholders recorded on April 19, 2011. The Company's shares will be traded ex-dividend on April 20, 2011.
Jiangsu Yawei Machine Tool Co Ltd Announces FY 2010 Dividend Payment Mar 19, 2011
Jiangsu Yawei Machine Tool Co Ltd announced that it will pay the cash dividend of RMB 2.00 per 10 shares (before tax), for the fiscal year ended 2010.
Jiangsu Yawei Machine Tool Co Ltd Completes Initial Public Offering Mar 02, 2011
Jiangsu Yawei Machine Tool Co Ltd announced that it has completed its initial public offering of 22 million A shares of common stock at a price of RMB 40 per share. The Company raised RMB 880 million through the issuance. The shares will be traded on the Shenzhen Stock Exchange on March 3, 2011, under the symbol of "002559".
Jiangsu Yawei Machine Tool Co Ltd Prices Initial Public Offering Feb 22, 2011
Jiangsu Yawei Machine Tool Co Ltd announced that it has priced its initial public offering of 22 million A shares of common stock at a price of RMB 40 per share. The Company expects to raise RMB 880 million through the issuance.
Jiangsu Yawei Machine Tool Co Ltd Announces Initial Public Offering Feb 15, 2011
Jiangsu Yawei Machine Tool Co Ltd announced that it will have its initial public offering of 22 million A shares of common stock with par value of RMB 1 per share on the Shenzhen Stock Exchange. Everbright Securities Co., Ltd. will serve as the main underwriter.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
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Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
95.0 |
55.0 |
45.2 |
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Revenue |
95.0 |
55.0 |
45.2 |
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Total Revenue |
95.0 |
55.0 |
45.2 |
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Cost of Revenue |
70.9 |
41.2 |
31.7 |
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Excise Taxes Payments |
0.3 |
0.1 |
0.2 |
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Cost of Revenue, Total |
71.2 |
41.3 |
31.9 |
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Gross Profit |
23.8 |
13.7 |
13.4 |
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Selling/General/Administrative Expense |
12.3 |
8.2 |
7.6 |
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Total Selling/General/Administrative Expenses |
12.3 |
8.2 |
7.6 |
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Interest Expense -
Operating |
0.7 |
0.6 |
0.6 |
|
Interest Expense - Net Operating |
0.7 |
0.6 |
0.6 |
|
Interest Income -
Operating |
-0.2 |
-0.1 |
-0.1 |
|
Investment Income -
Operating |
0.0 |
0.0 |
-0.2 |
|
Interest/Investment Income - Operating |
-0.2 |
-0.1 |
-0.2 |
|
Interest Expense (Income) - Net Operating Total |
0.5 |
0.5 |
0.4 |
|
Impairment-Assets Held for Use |
0.5 |
-0.4 |
0.1 |
|
Unusual Expense (Income) |
0.5 |
-0.4 |
0.1 |
|
Other Operating Expense |
0.0 |
0.0 |
0.0 |
|
Other Operating Expenses, Total |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
84.6 |
49.7 |
40.0 |
|
|
|
|
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Operating Income |
10.4 |
5.3 |
5.2 |
|
|
|
|
|
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Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
2.4 |
1.3 |
0.8 |
|
Other, Net |
2.4 |
1.3 |
0.8 |
|
Income Before Tax |
12.8 |
6.7 |
6.0 |
|
|
|
|
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Total Income Tax |
1.6 |
0.9 |
0.7 |
|
Income After Tax |
11.2 |
5.8 |
5.3 |
|
|
|
|
|
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Minority Interest |
0.0 |
0.0 |
-0.1 |
|
Net Income Before Extraord Items |
11.2 |
5.8 |
5.2 |
|
Net Income |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
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Income Available to Common Excl Extraord Items |
11.2 |
5.8 |
5.2 |
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|
|
|
|
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Income Available to Common Incl Extraord Items |
11.2 |
5.8 |
5.2 |
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|
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|
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Basic/Primary Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Basic EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Diluted Net Income |
11.2 |
5.8 |
5.2 |
|
Diluted Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Diluted EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Diluted EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.7 |
0.6 |
0.6 |
|
Depreciation, Supplemental |
1.4 |
0.9 |
0.8 |
|
Total Special Items |
0.5 |
-0.4 |
0.1 |
|
Normalized Income Before Tax |
13.3 |
6.3 |
6.2 |
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Effect of Special Items on Income Taxes |
0.1 |
-0.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
1.7 |
0.8 |
0.7 |
|
Normalized Income After Tax |
11.6 |
5.4 |
5.4 |
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|
|
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Normalized Inc. Avail to Com. |
11.6 |
5.4 |
5.3 |
|
|
|
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Basic Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Diluted Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
|
Advertising Expense, Supplemental |
0.1 |
0.0 |
0.1 |
|
Research & Development Exp, Supplemental |
3.2 |
1.5 |
1.1 |
|
Normalized EBIT |
11.5 |
5.4 |
5.7 |
|
Normalized EBITDA |
13.1 |
6.5 |
6.6 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Other Tax |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
1.6 |
0.9 |
0.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
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Cash & Equivalents |
13.5 |
15.4 |
10.3 |
|
Cash and Short Term Investments |
13.5 |
15.4 |
10.3 |
|
Accounts Receivable -
Trade, Gross |
8.0 |
4.0 |
- |
|
Provision for Doubtful
Accounts |
-1.0 |
-0.4 |
- |
|
Trade Accounts Receivable - Net |
7.0 |
3.6 |
4.8 |
|
Notes Receivable - Short Term |
5.8 |
2.0 |
0.5 |
|
Other Receivables |
0.4 |
0.3 |
0.4 |
|
Total Receivables, Net |
13.2 |
5.9 |
5.6 |
|
Inventories - Finished Goods |
13.9 |
10.2 |
11.4 |
|
Inventories - Work In Progress |
5.9 |
4.1 |
5.2 |
|
Inventories - Raw Materials |
11.2 |
6.7 |
3.4 |
|
Total Inventory |
31.0 |
21.0 |
20.0 |
|
Prepaid Expenses |
4.7 |
1.9 |
6.6 |
|
Total Current Assets |
62.4 |
44.2 |
42.5 |
|
|
|
|
|
|
Buildings |
13.4 |
8.5 |
- |
|
Machinery/Equipment |
21.0 |
13.1 |
- |
|
Construction in
Progress |
4.6 |
6.0 |
1.2 |
|
Property/Plant/Equipment - Gross |
39.0 |
27.6 |
1.2 |
|
Accumulated Depreciation |
-8.6 |
-7.0 |
- |
|
Property/Plant/Equipment - Net |
30.4 |
20.7 |
13.5 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
|
Intangibles, Net |
6.7 |
6.5 |
2.5 |
|
LT Investment - Affiliate Companies |
5.2 |
0.0 |
0.1 |
|
Long Term Investments |
5.2 |
0.0 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.1 |
0.2 |
|
Other Long Term Assets, Total |
0.3 |
0.1 |
0.2 |
|
Total Assets |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Accounts Payable |
16.4 |
5.4 |
6.9 |
|
Accrued Expenses |
1.9 |
3.6 |
1.3 |
|
Notes Payable/Short Term Debt |
23.3 |
9.7 |
9.7 |
|
Current Portion - Long Term Debt/Capital Leases |
3.7 |
3.6 |
0.5 |
|
Dividends Payable |
0.5 |
0.9 |
0.7 |
|
Customer Advances |
16.2 |
11.9 |
11.2 |
|
Income Taxes Payable |
1.6 |
0.3 |
-0.7 |
|
Other Current liabilities, Total |
18.2 |
13.1 |
11.2 |
|
Total Current Liabilities |
63.5 |
35.3 |
29.7 |
|
|
|
|
|
|
Long Term Debt |
0.8 |
4.3 |
1.2 |
|
Total Long Term Debt |
0.8 |
4.3 |
1.2 |
|
Total Debt |
27.7 |
17.5 |
11.4 |
|
|
|
|
|
|
Minority Interest |
0.9 |
2.5 |
2.5 |
|
Other Long Term Liabilities |
4.3 |
4.8 |
5.2 |
|
Other Liabilities, Total |
4.3 |
4.8 |
5.2 |
|
Total Liabilities |
69.5 |
46.9 |
38.5 |
|
|
|
|
|
|
Common Stock |
10.0 |
9.7 |
9.7 |
|
Common Stock |
10.0 |
9.7 |
9.7 |
|
Additional Paid-In Capital |
5.2 |
5.0 |
5.0 |
|
Retained Earnings (Accumulated Deficit) |
20.3 |
10.0 |
5.7 |
|
Translation Adjustment |
0.0 |
0.0 |
0.0 |
|
Other Equity, Total |
0.0 |
0.0 |
0.0 |
|
Total Equity |
35.5 |
24.7 |
20.3 |
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
66.0 |
66.0 |
66.0 |
|
Total Common Shares Outstanding |
66.0 |
66.0 |
66.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
|
Employees |
787 |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.9 |
0.7 |
- |
|
Deferred Revenue - Current |
16.2 |
11.9 |
11.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash Receipts |
106.7 |
65.0 |
53.1 |
|
Cash Payments |
-87.9 |
-52.9 |
-45.3 |
|
Cash Taxes Paid |
-2.1 |
-1.1 |
-0.9 |
|
Other Operating Cash Flow |
-7.2 |
-4.0 |
-3.7 |
|
Changes in Working Capital |
-7.2 |
-4.0 |
-3.7 |
|
Cash from Operating Activities |
9.6 |
7.1 |
3.3 |
|
|
|
|
|
|
Purchase of Fixed Assets |
-14.2 |
-6.8 |
-3.9 |
|
Capital Expenditures |
-14.2 |
-6.8 |
-3.9 |
|
Acquisition of Business |
-3.7 |
- |
- |
|
Sale of Business |
0.0 |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
- |
|
Sale/Maturity of Investment |
- |
0.1 |
- |
|
Purchase of Investments |
-0.1 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-3.8 |
0.1 |
0.0 |
|
Cash from Investing Activities |
-18.0 |
-6.7 |
-3.9 |
|
|
|
|
|
|
Other Financing Cash Flow |
-2.9 |
-2.0 |
-1.2 |
|
Financing Cash Flow Items |
-2.9 |
-2.0 |
-1.2 |
|
Total Debt Issued |
26.8 |
25.0 |
12.1 |
|
Total Debt Reduction |
-17.9 |
-17.9 |
-7.2 |
|
Issuance (Retirement) of Debt, Net |
8.8 |
7.0 |
4.9 |
|
Cash from Financing Activities |
6.0 |
5.0 |
3.7 |
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
-2.5 |
5.4 |
3.0 |
|
|
|
|
|
|
Net Cash - Beginning Balance |
15.2 |
9.6 |
6.4 |
|
Net Cash - Ending Balance |
12.7 |
15.0 |
9.4 |
|
Depreciation |
1.4 |
0.9 |
0.8 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu Suyajincheng
CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Net Sales |
95.0 |
55.0 |
45.2 |
|
Total Revenue |
95.0 |
55.0 |
45.2 |
|
|
|
|
|
|
Cost of Sales |
70.9 |
41.2 |
31.7 |
|
Business Tax and Surcharges |
0.3 |
0.1 |
0.2 |
|
Selling Expense |
4.5 |
3.2 |
2.9 |
|
General & Administrative Expenses |
7.7 |
5.0 |
4.7 |
|
Interest Expense |
0.7 |
0.6 |
0.6 |
|
Interest Income |
-0.2 |
-0.1 |
-0.1 |
|
Foreign Exchange Loss |
0.1 |
0.0 |
-0.1 |
|
Commission Fees |
0.0 |
0.0 |
0.0 |
|
Impairment Loss on Assets |
0.5 |
-0.4 |
0.1 |
|
Investment Income |
-0.1 |
0.0 |
-0.1 |
|
Total Operating Expense |
84.6 |
49.7 |
40.0 |
|
|
|
|
|
|
Gain on Sale of Fixed Assets |
0.0 |
0.0 |
- |
|
Non - Operating Income |
2.7 |
1.5 |
1.0 |
|
Loss on Sale of Fixed Assets |
- |
- |
0.0 |
|
Non - Operating Expense |
-0.3 |
-0.2 |
-0.2 |
|
Net Income Before Taxes |
12.8 |
6.7 |
6.0 |
|
|
|
|
|
|
Provision for Income Taxes |
1.6 |
0.9 |
0.7 |
|
Net Income After Taxes |
11.2 |
5.8 |
5.3 |
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
-0.1 |
|
Net Income Before Extra. Items |
11.2 |
5.8 |
5.2 |
|
Net Income |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Basic Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.17 |
0.09 |
0.08 |
|
Basic EPS Including ExtraOrdinary Items |
0.17 |
0.09 |
0.08 |
|
Diluted Net Income |
11.2 |
5.8 |
5.2 |
|
Diluted Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.17 |
0.09 |
0.08 |
|
Diluted EPS Including ExtraOrd Items |
0.17 |
0.09 |
0.08 |
|
DPS-A Share |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
13.3 |
6.3 |
6.2 |
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.7 |
0.8 |
0.7 |
|
Normalized Income After Taxes |
11.6 |
5.4 |
5.4 |
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
11.6 |
5.4 |
5.3 |
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Diluted Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Interest Expense, Supplemental |
0.7 |
0.6 |
0.6 |
|
Research & Development Exp, Supplemental |
3.2 |
1.5 |
1.1 |
|
Advertising Expense, Supplemental |
0.1 |
0.0 |
0.1 |
|
Depreciation, Supplemental |
1.4 |
0.9 |
0.8 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
|
Current Tax |
1.9 |
0.8 |
0.7 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Deferred Tax |
-0.2 |
0.1 |
0.0 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Merger Offset Deferred Income Tax |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
1.6 |
0.9 |
0.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Jiangsu Suyajincheng
CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash and Cash Equivalent |
13.5 |
15.4 |
10.3 |
|
Notes Receivable |
5.8 |
2.0 |
0.5 |
|
Accounts Receivable, Gross |
8.0 |
4.0 |
- |
|
Provision for Doubtful Accounts |
-1.0 |
-0.4 |
- |
|
Accounts Receivable, Net |
- |
- |
4.8 |
|
Payment in Advance |
4.7 |
1.9 |
6.6 |
|
Other Receivables |
0.4 |
0.3 |
0.4 |
|
Raw Material |
11.2 |
6.7 |
3.4 |
|
Outsourcing Semi-finished Products |
0.4 |
0.0 |
0.1 |
|
Semi-finished Products |
1.8 |
0.9 |
1.6 |
|
Work-in-Process |
3.7 |
3.2 |
3.5 |
|
Stored Goods |
13.9 |
10.2 |
11.4 |
|
Total Current Assets |
62.4 |
44.2 |
42.5 |
|
|
|
|
|
|
Long Term Equity Investment |
5.2 |
0.0 |
0.1 |
|
Fixed Assets, Net |
- |
- |
12.3 |
|
Buildings & Structures |
13.4 |
8.5 |
- |
|
Machinery and Equipment |
20.2 |
12.6 |
- |
|
Transportation Equipment |
0.5 |
0.4 |
- |
|
Other Equipment |
0.4 |
0.1 |
- |
|
Accumulated Depreciation |
-8.6 |
-7.0 |
- |
|
Construction in Progress |
4.6 |
6.0 |
1.2 |
|
Intangible Assets, Net |
6.7 |
6.5 |
2.5 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
|
Deferred Tax Assets |
0.3 |
0.1 |
0.2 |
|
Total Assets |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Short Term Borrowing |
23.3 |
9.7 |
9.1 |
|
Notes Payable |
- |
0.0 |
0.6 |
|
Accounts Payable |
16.4 |
5.4 |
6.9 |
|
Customer Advance |
16.2 |
11.9 |
11.2 |
|
Accrued Payroll |
1.3 |
1.3 |
0.8 |
|
Tax Payable |
1.6 |
0.3 |
-0.7 |
|
Dividend Payable |
0.5 |
0.9 |
0.7 |
|
Other Creditors |
0.6 |
2.2 |
0.5 |
|
Current Portion of LT Debt |
3.7 |
3.6 |
0.5 |
|
Total Current Liabilities |
63.5 |
35.3 |
29.7 |
|
|
|
|
|
|
Long Term Borrowing |
0.8 |
4.3 |
1.2 |
|
Total Long Term Debt |
0.8 |
4.3 |
1.2 |
|
|
|
|
|
|
Long Term Payables |
0.5 |
0.6 |
0.8 |
|
Special Payables |
1.8 |
2.3 |
2.3 |
|
Other Non-current Liabilities |
2.0 |
2.0 |
2.0 |
|
Minority Interest |
0.9 |
2.5 |
2.5 |
|
Total Liabilities |
69.5 |
46.9 |
38.5 |
|
|
|
|
|
|
Capital Stock |
10.0 |
9.7 |
9.7 |
|
Paid in Capital |
5.2 |
5.0 |
5.0 |
|
Surplus Reserve |
2.3 |
1.1 |
0.5 |
|
Undistributed Profit |
18.0 |
8.9 |
5.1 |
|
Translation Adjustments |
0.0 |
0.0 |
0.0 |
|
Total Equity |
35.5 |
24.7 |
20.3 |
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
S/O-A Share |
66.0 |
66.0 |
66.0 |
|
Total Common Shares Outstanding |
66.0 |
66.0 |
66.0 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
16.2 |
11.9 |
11.2 |
|
Accumulated Intangible Amort, Suppl. |
0.9 |
0.7 |
- |
|
Full-Time Employees |
787 |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash from Sale of Goods & Services |
106.7 |
65.0 |
53.1 |
|
Cash Paid for Goods and Services |
-87.9 |
-52.9 |
-45.3 |
|
Refund of Taxes |
0.0 |
1.4 |
1.0 |
|
Other Cash from Operating Activities |
2.4 |
1.5 |
2.0 |
|
All Taxes Paid |
-2.1 |
-2.5 |
-1.8 |
|
Other Cash Paid for Operating Activities |
-9.6 |
-5.5 |
-5.7 |
|
Cash from Operating Activities |
9.6 |
7.1 |
3.3 |
|
|
|
|
|
|
Sale/Maturity/Redemption of Investments |
- |
0.1 |
- |
|
Sale of FA/Intangibles/Other Assets |
0.0 |
0.0 |
- |
|
Cash from Disposal of Subsidiaries |
0.0 |
0.0 |
0.0 |
|
Capital Expenditure |
-14.2 |
-6.8 |
-3.9 |
|
Cash Paid for Purchase of Investments |
-0.1 |
0.0 |
0.0 |
|
Cash Paid for Acquisition of Subsidiary |
-3.7 |
- |
- |
|
Cash from Investing Activities |
-18.0 |
-6.7 |
-3.9 |
|
|
|
|
|
|
Cash from Investors |
- |
0.0 |
1.7 |
|
Cash from Borrowings |
26.8 |
25.0 |
12.1 |
|
Repayment of Borrowings |
-17.9 |
-17.9 |
-7.2 |
|
Cash Paid for Dividend and Interest |
-2.9 |
-2.0 |
-2.9 |
|
Cash from Financing Activities |
6.0 |
5.0 |
3.7 |
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
-2.5 |
5.4 |
3.0 |
|
|
|
|
|
|
Net Cash - Beginning Balance |
15.2 |
9.6 |
6.4 |
|
Net Cash - Ending Balance |
12.7 |
15.0 |
9.4 |
|
Depreciation |
1.4 |
0.9 |
0.8 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.1 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Net Sales |
95.0 |
55.0 |
45.2 |
|
Revenue |
95.0 |
55.0 |
45.2 |
|
Total Revenue |
95.0 |
55.0 |
45.2 |
|
|
|
|
|
|
Cost of Revenue |
70.9 |
41.2 |
31.7 |
|
Excise Taxes Payments |
0.3 |
0.1 |
0.2 |
|
Cost of Revenue, Total |
71.2 |
41.3 |
31.9 |
|
Gross Profit |
23.8 |
13.7 |
13.4 |
|
|
|
|
|
|
Selling/General/Administrative Expense |
12.3 |
8.2 |
7.6 |
|
Total Selling/General/Administrative Expenses |
12.3 |
8.2 |
7.6 |
|
Interest Expense -
Operating |
0.7 |
0.6 |
0.6 |
|
Interest Expense - Net Operating |
0.7 |
0.6 |
0.6 |
|
Interest Income -
Operating |
-0.2 |
-0.1 |
-0.1 |
|
Investment Income -
Operating |
0.0 |
0.0 |
-0.2 |
|
Interest/Investment Income - Operating |
-0.2 |
-0.1 |
-0.2 |
|
Interest Expense (Income) - Net Operating Total |
0.5 |
0.5 |
0.4 |
|
Impairment-Assets Held for Use |
0.5 |
-0.4 |
0.1 |
|
Unusual Expense (Income) |
0.5 |
-0.4 |
0.1 |
|
Other Operating Expense |
0.0 |
0.0 |
0.0 |
|
Other Operating Expenses, Total |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
84.6 |
49.7 |
40.0 |
|
|
|
|
|
|
Operating Income |
10.4 |
5.3 |
5.2 |
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
2.4 |
1.3 |
0.8 |
|
Other, Net |
2.4 |
1.3 |
0.8 |
|
Income Before Tax |
12.8 |
6.7 |
6.0 |
|
|
|
|
|
|
Total Income Tax |
1.6 |
0.9 |
0.7 |
|
Income After Tax |
11.2 |
5.8 |
5.3 |
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
-0.1 |
|
Net Income Before Extraord Items |
11.2 |
5.8 |
5.2 |
|
Net Income |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Basic EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Diluted Net Income |
11.2 |
5.8 |
5.2 |
|
Diluted Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Diluted EPS Excl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Diluted EPS Incl Extraord Items |
0.17 |
0.09 |
0.08 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.7 |
0.6 |
0.6 |
|
Depreciation, Supplemental |
1.4 |
0.9 |
0.8 |
|
Total Special Items |
0.5 |
-0.4 |
0.1 |
|
Normalized Income Before Tax |
13.3 |
6.3 |
6.2 |
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
-0.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
1.7 |
0.8 |
0.7 |
|
Normalized Income After Tax |
11.6 |
5.4 |
5.4 |
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
11.6 |
5.4 |
5.3 |
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Diluted Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
|
Advertising Expense, Supplemental |
0.1 |
0.0 |
0.1 |
|
Research & Development Exp, Supplemental |
3.2 |
1.5 |
1.1 |
|
Normalized EBIT |
11.5 |
5.4 |
5.7 |
|
Normalized EBITDA |
13.1 |
6.5 |
6.6 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Other Tax |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
1.6 |
0.9 |
0.7 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.417282 |
6.501206 |
6.583076 |
6.770018 |
6.824215 |
|
|
|
|
|
|
|
|
Net Sales |
32.8 |
31.9 |
30.1 |
23.7 |
26.6 |
|
Revenue |
32.8 |
31.9 |
30.1 |
23.7 |
26.6 |
|
Total Revenue |
32.8 |
31.9 |
30.1 |
23.7 |
26.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
24.4 |
23.3 |
22.0 |
17.8 |
19.5 |
|
Excise Taxes Payments |
0.0 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Cost of Revenue, Total |
24.4 |
23.4 |
22.1 |
17.9 |
19.6 |
|
Gross Profit |
8.4 |
8.5 |
8.0 |
5.9 |
7.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
3.6 |
3.8 |
3.5 |
2.2 |
3.1 |
|
Total Selling/General/Administrative Expenses |
3.6 |
3.8 |
3.5 |
2.2 |
3.1 |
|
Investment Income -
Operating |
0.0 |
0.0 |
0.0 |
-0.1 |
- |
|
Interest/Investment Income - Operating |
0.0 |
0.0 |
0.0 |
-0.1 |
- |
|
Interest Expense (Income) - Net Operating |
-0.1 |
-0.2 |
0.3 |
0.0 |
0.2 |
|
Interest Expense (Income) - Net Operating Total |
-0.1 |
-0.2 |
0.2 |
0.0 |
0.2 |
|
Impairment-Assets Held for Use |
0.2 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Unusual Expense (Income) |
0.2 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
28.1 |
27.4 |
25.9 |
20.1 |
23.0 |
|
|
|
|
|
|
|
|
Operating Income |
4.8 |
4.5 |
4.2 |
3.7 |
3.7 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
0.0 |
0.8 |
0.0 |
0.0 |
1.5 |
|
Other, Net |
0.0 |
0.8 |
0.0 |
0.0 |
1.5 |
|
Income Before Tax |
4.7 |
5.3 |
4.2 |
3.7 |
5.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.7 |
0.9 |
0.7 |
0.5 |
0.8 |
|
Income After Tax |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
Net Income |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
88.0 |
88.0 |
88.0 |
66.0 |
66.0 |
|
Basic EPS Excl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
Basic/Primary EPS Incl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
Diluted Net Income |
4.0 |
4.4 |
3.5 |
3.2 |
4.3 |
|
Diluted Weighted Average Shares |
88.0 |
88.0 |
88.0 |
66.0 |
66.0 |
|
Diluted EPS Excl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
Diluted EPS Incl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
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 |
|
Total Special Items |
0.2 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
4.9 |
5.6 |
4.2 |
3.7 |
5.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
0.7 |
0.9 |
0.7 |
0.5 |
0.8 |
|
Normalized Income After Tax |
4.2 |
4.7 |
3.6 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.2 |
4.7 |
3.6 |
3.2 |
4.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
Diluted Normalized EPS |
0.05 |
0.05 |
0.04 |
0.05 |
0.07 |
|
Normalized EBIT |
4.8 |
4.6 |
4.5 |
3.6 |
3.9 |
|
Normalized EBITDA |
4.8 |
4.6 |
4.5 |
3.6 |
3.9 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash & Equivalents |
13.5 |
15.4 |
10.3 |
|
Cash and Short Term Investments |
13.5 |
15.4 |
10.3 |
|
Accounts Receivable -
Trade, Gross |
8.0 |
4.0 |
- |
|
Provision for Doubtful
Accounts |
-1.0 |
-0.4 |
- |
|
Trade Accounts Receivable - Net |
7.0 |
3.6 |
4.8 |
|
Notes Receivable - Short Term |
5.8 |
2.0 |
0.5 |
|
Other Receivables |
0.4 |
0.3 |
0.4 |
|
Total Receivables, Net |
13.2 |
5.9 |
5.6 |
|
Inventories - Finished Goods |
13.9 |
10.2 |
11.4 |
|
Inventories - Work In Progress |
5.9 |
4.1 |
5.2 |
|
Inventories - Raw Materials |
11.2 |
6.7 |
3.4 |
|
Total Inventory |
31.0 |
21.0 |
20.0 |
|
Prepaid Expenses |
4.7 |
1.9 |
6.6 |
|
Total Current Assets |
62.4 |
44.2 |
42.5 |
|
|
|
|
|
|
Buildings |
13.4 |
8.5 |
- |
|
Machinery/Equipment |
21.0 |
13.1 |
- |
|
Construction in
Progress |
4.6 |
6.0 |
1.2 |
|
Property/Plant/Equipment - Gross |
39.0 |
27.6 |
1.2 |
|
Accumulated Depreciation |
-8.6 |
-7.0 |
- |
|
Property/Plant/Equipment - Net |
30.4 |
20.7 |
13.5 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
|
Intangibles, Net |
6.7 |
6.5 |
2.5 |
|
LT Investment - Affiliate Companies |
5.2 |
0.0 |
0.1 |
|
Long Term Investments |
5.2 |
0.0 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.1 |
0.2 |
|
Other Long Term Assets, Total |
0.3 |
0.1 |
0.2 |
|
Total Assets |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Accounts Payable |
16.4 |
5.4 |
6.9 |
|
Accrued Expenses |
1.9 |
3.6 |
1.3 |
|
Notes Payable/Short Term Debt |
23.3 |
9.7 |
9.7 |
|
Current Portion - Long Term Debt/Capital Leases |
3.7 |
3.6 |
0.5 |
|
Dividends Payable |
0.5 |
0.9 |
0.7 |
|
Customer Advances |
16.2 |
11.9 |
11.2 |
|
Income Taxes Payable |
1.6 |
0.3 |
-0.7 |
|
Other Current liabilities, Total |
18.2 |
13.1 |
11.2 |
|
Total Current Liabilities |
63.5 |
35.3 |
29.7 |
|
|
|
|
|
|
Long Term Debt |
0.8 |
4.3 |
1.2 |
|
Total Long Term Debt |
0.8 |
4.3 |
1.2 |
|
Total Debt |
27.7 |
17.5 |
11.4 |
|
|
|
|
|
|
Minority Interest |
0.9 |
2.5 |
2.5 |
|
Other Long Term Liabilities |
4.3 |
4.8 |
5.2 |
|
Other Liabilities, Total |
4.3 |
4.8 |
5.2 |
|
Total Liabilities |
69.5 |
46.9 |
38.5 |
|
|
|
|
|
|
Common Stock |
10.0 |
9.7 |
9.7 |
|
Common Stock |
10.0 |
9.7 |
9.7 |
|
Additional Paid-In Capital |
5.2 |
5.0 |
5.0 |
|
Retained Earnings (Accumulated Deficit) |
20.3 |
10.0 |
5.7 |
|
Translation Adjustment |
0.0 |
0.0 |
0.0 |
|
Other Equity, Total |
0.0 |
0.0 |
0.0 |
|
Total Equity |
35.5 |
24.7 |
20.3 |
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
66.0 |
66.0 |
66.0 |
|
Total Common Shares Outstanding |
66.0 |
66.0 |
66.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
|
Employees |
787 |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.9 |
0.7 |
- |
|
Deferred Revenue - Current |
16.2 |
11.9 |
11.2 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.3859 |
6.464 |
6.5485 |
|
|
|
|
|
|
Cash & Equivalents |
90.6 |
99.6 |
133.8 |
|
Cash and Short Term Investments |
90.6 |
99.6 |
133.8 |
|
Trade Accounts Receivable - Net |
12.1 |
10.0 |
8.4 |
|
Notes Receivable - Short Term |
3.6 |
4.6 |
4.9 |
|
Other Receivables |
0.9 |
0.6 |
0.5 |
|
Total Receivables, Net |
16.6 |
15.1 |
13.8 |
|
Total Inventory |
53.6 |
46.5 |
39.3 |
|
Prepaid Expenses |
10.2 |
10.0 |
6.9 |
|
Total Current Assets |
170.9 |
171.3 |
193.7 |
|
|
|
|
|
|
Construction in
Progress |
10.4 |
7.5 |
1.4 |
|
Property/Plant/Equipment - Gross |
10.4 |
7.5 |
1.4 |
|
Property/Plant/Equipment - Net |
43.4 |
38.6 |
32.5 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
|
Intangibles, Net |
6.8 |
6.7 |
6.7 |
|
LT Investment - Affiliate Companies |
5.4 |
5.3 |
5.2 |
|
Long Term Investments |
5.4 |
5.3 |
5.2 |
|
Deferred Income Tax - Long Term Asset |
0.2 |
0.2 |
0.3 |
|
Other Long Term Assets, Total |
0.2 |
0.2 |
0.3 |
|
Total Assets |
226.8 |
222.2 |
238.5 |
|
|
|
|
|
|
Accounts Payable |
17.9 |
18.7 |
19.3 |
|
Accrued Expenses |
3.3 |
2.4 |
3.4 |
|
Notes Payable/Short Term Debt |
4.7 |
6.2 |
22.2 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
3.7 |
|
Dividends Payable |
0.9 |
1.4 |
0.5 |
|
Customer Advances |
18.1 |
17.9 |
16.7 |
|
Income Taxes Payable |
1.2 |
1.0 |
0.6 |
|
Other Current liabilities, Total |
20.2 |
20.3 |
17.8 |
|
Total Current Liabilities |
46.1 |
47.6 |
66.3 |
|
|
|
|
|
|
Long Term Debt |
0.3 |
- |
0.8 |
|
Total Long Term Debt |
0.3 |
0.0 |
0.8 |
|
Total Debt |
5.0 |
6.2 |
26.7 |
|
|
|
|
|
|
Minority Interest |
0.9 |
0.9 |
0.9 |
|
Other Long Term Liabilities |
3.2 |
3.6 |
4.3 |
|
Other Liabilities, Total |
3.2 |
3.6 |
4.3 |
|
Total Liabilities |
50.6 |
52.1 |
72.3 |
|
|
|
|
|
|
Common Stock |
13.8 |
13.6 |
13.4 |
|
Common Stock |
13.8 |
13.6 |
13.4 |
|
Additional Paid-In Capital |
132.0 |
130.5 |
128.8 |
|
Retained Earnings (Accumulated Deficit) |
30.4 |
26.1 |
24.0 |
|
Translation Adjustment |
0.0 |
0.0 |
0.0 |
|
Other Equity, Total |
0.0 |
0.0 |
0.0 |
|
Total Equity |
176.2 |
170.1 |
166.2 |
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
226.8 |
222.2 |
238.5 |
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
88.0 |
88.0 |
88.0 |
|
Total Common Shares Outstanding |
88.0 |
88.0 |
88.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
|
Number of Common Shareholders |
18,102 |
19,575 |
20,439 |
|
Deferred Revenue - Current |
18.1 |
17.9 |
16.7 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash Receipts |
106.7 |
65.0 |
53.1 |
|
Cash Payments |
-87.9 |
-52.9 |
-45.3 |
|
Cash Taxes Paid |
-2.1 |
-1.1 |
-0.9 |
|
Other Operating Cash Flow |
-7.2 |
-4.0 |
-3.7 |
|
Changes in Working Capital |
-7.2 |
-4.0 |
-3.7 |
|
Cash from Operating Activities |
9.6 |
7.1 |
3.3 |
|
|
|
|
|
|
Purchase of Fixed Assets |
-14.2 |
-6.8 |
-3.9 |
|
Capital Expenditures |
-14.2 |
-6.8 |
-3.9 |
|
Acquisition of Business |
-3.7 |
- |
- |
|
Sale of Business |
0.0 |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
- |
|
Sale/Maturity of Investment |
- |
0.1 |
- |
|
Purchase of Investments |
-0.1 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-3.8 |
0.1 |
0.0 |
|
Cash from Investing Activities |
-18.0 |
-6.7 |
-3.9 |
|
|
|
|
|
|
Other Financing Cash Flow |
-2.9 |
-2.0 |
-1.2 |
|
Financing Cash Flow Items |
-2.9 |
-2.0 |
-1.2 |
|
Total Debt Issued |
26.8 |
25.0 |
12.1 |
|
Total Debt Reduction |
-17.9 |
-17.9 |
-7.2 |
|
Issuance (Retirement) of Debt, Net |
8.8 |
7.0 |
4.9 |
|
Cash from Financing Activities |
6.0 |
5.0 |
3.7 |
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
-2.5 |
5.4 |
3.0 |
|
|
|
|
|
|
Net Cash - Beginning Balance |
15.2 |
9.6 |
6.4 |
|
Net Cash - Ending Balance |
12.7 |
15.0 |
9.4 |
|
Depreciation |
1.4 |
0.9 |
0.8 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.500043 |
6.541904 |
6.583076 |
6.807123 |
6.825839 |
|
|
|
|
|
|
|
|
Cash Receipts |
107.9 |
71.5 |
35.7 |
77.3 |
46.2 |
|
Cash Payments |
-105.3 |
-67.5 |
-33.0 |
-64.7 |
-37.4 |
|
Cash Taxes Paid |
-2.6 |
-2.6 |
-1.3 |
-1.6 |
-1.4 |
|
Other Operating Cash Flow |
-7.4 |
-4.8 |
-2.8 |
-5.4 |
-3.8 |
|
Changes in Working Capital |
-7.4 |
-4.8 |
-2.8 |
-5.4 |
-3.8 |
|
Cash from Operating Activities |
-7.3 |
-3.4 |
-1.5 |
5.6 |
3.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-19.0 |
-14.8 |
-4.8 |
-11.2 |
-6.6 |
|
Capital Expenditures |
-19.0 |
-14.8 |
-4.8 |
-11.2 |
-6.6 |
|
Acquisition of Business |
0.0 |
- |
- |
-3.7 |
- |
|
Sale of Business |
0.0 |
- |
- |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
- |
- |
0.0 |
0.0 |
|
Purchase of Investments |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
-3.8 |
-0.1 |
|
Cash from Investing Activities |
-19.0 |
-14.8 |
-4.8 |
-15.0 |
-6.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
125.2 |
124.8 |
127.1 |
-1.9 |
-1.6 |
|
Financing Cash Flow Items |
125.2 |
124.8 |
127.1 |
-1.9 |
-1.6 |
|
Total Debt Issued |
9.8 |
8.6 |
6.7 |
17.2 |
5.3 |
|
Total Debt Reduction |
-33.3 |
-30.4 |
-7.9 |
-15.0 |
-4.0 |
|
Issuance (Retirement) of Debt, Net |
-23.5 |
-21.8 |
-1.2 |
2.2 |
1.3 |
|
Cash from Financing Activities |
101.7 |
103.0 |
125.9 |
0.3 |
-0.3 |
|
Foreign Exchange Effects |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
75.3 |
84.8 |
119.5 |
-9.0 |
-3.3 |
|
Net Cash - Beginning Balance |
13.7 |
13.6 |
13.5 |
15.1 |
15.0 |
|
Net Cash - Ending Balance |
89.0 |
98.4 |
133.1 |
6.0 |
11.7 |
|
Depreciation |
- |
1.0 |
- |
- |
0.6 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Net Sales |
95.0 |
55.0 |
45.2 |
|
Total Revenue |
95.0 |
55.0 |
45.2 |
|
|
|
|
|
|
Cost of Sales |
70.9 |
41.2 |
31.7 |
|
Business Tax and Surcharges |
0.3 |
0.1 |
0.2 |
|
Selling Expense |
4.5 |
3.2 |
2.9 |
|
General & Administrative Expenses |
7.7 |
5.0 |
4.7 |
|
Interest Expense |
0.7 |
0.6 |
0.6 |
|
Interest Income |
-0.2 |
-0.1 |
-0.1 |
|
Foreign Exchange Loss |
0.1 |
0.0 |
-0.1 |
|
Commission Fees |
0.0 |
0.0 |
0.0 |
|
Impairment Loss on Assets |
0.5 |
-0.4 |
0.1 |
|
Investment Income |
-0.1 |
0.0 |
-0.1 |
|
Total Operating Expense |
84.6 |
49.7 |
40.0 |
|
|
|
|
|
|
Gain on Sale of Fixed Assets |
0.0 |
0.0 |
- |
|
Non - Operating Income |
2.7 |
1.5 |
1.0 |
|
Loss on Sale of Fixed Assets |
- |
- |
0.0 |
|
Non - Operating Expense |
-0.3 |
-0.2 |
-0.2 |
|
Net Income Before Taxes |
12.8 |
6.7 |
6.0 |
|
|
|
|
|
|
Provision for Income Taxes |
1.6 |
0.9 |
0.7 |
|
Net Income After Taxes |
11.2 |
5.8 |
5.3 |
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
-0.1 |
|
Net Income Before Extra. Items |
11.2 |
5.8 |
5.2 |
|
Net Income |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
11.2 |
5.8 |
5.2 |
|
|
|
|
|
|
Basic Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.17 |
0.09 |
0.08 |
|
Basic EPS Including ExtraOrdinary Items |
0.17 |
0.09 |
0.08 |
|
Diluted Net Income |
11.2 |
5.8 |
5.2 |
|
Diluted Weighted Average Shares |
66.0 |
66.0 |
66.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.17 |
0.09 |
0.08 |
|
Diluted EPS Including ExtraOrd Items |
0.17 |
0.09 |
0.08 |
|
DPS-A Share |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
13.3 |
6.3 |
6.2 |
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.7 |
0.8 |
0.7 |
|
Normalized Income After Taxes |
11.6 |
5.4 |
5.4 |
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
11.6 |
5.4 |
5.3 |
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Diluted Normalized EPS |
0.18 |
0.08 |
0.08 |
|
Interest Expense, Supplemental |
0.7 |
0.6 |
0.6 |
|
Research & Development Exp, Supplemental |
3.2 |
1.5 |
1.1 |
|
Advertising Expense, Supplemental |
0.1 |
0.0 |
0.1 |
|
Depreciation, Supplemental |
1.4 |
0.9 |
0.8 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
|
Current Tax |
1.9 |
0.8 |
0.7 |
|
Current Tax - Total |
1.9 |
0.8 |
0.7 |
|
Deferred Tax |
-0.2 |
0.1 |
0.0 |
|
Deferred Tax - Total |
-0.2 |
0.1 |
0.0 |
|
Merger Offset Deferred Income Tax |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
1.6 |
0.9 |
0.7 |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.501206 |
6.583076 |
6.824215 |
6.827505 |
|
|
|
|
|
|
|
Net Sales |
31.9 |
30.1 |
26.6 |
14.4 |
|
Total Revenue |
31.9 |
30.1 |
26.6 |
14.4 |
|
|
|
|
|
|
|
Cost of Sales |
23.3 |
22.0 |
19.5 |
10.6 |
|
Business Tax and Surcharges |
0.1 |
0.1 |
0.0 |
0.1 |
|
Selling Expense |
1.3 |
1.3 |
0.9 |
0.9 |
|
General & Administrative Expenses |
2.5 |
2.2 |
2.2 |
1.2 |
|
Finance Expense |
-0.2 |
0.3 |
0.2 |
0.3 |
|
Impairment Loss on Assets |
0.3 |
0.0 |
0.0 |
0.1 |
|
Investment Income |
0.0 |
0.0 |
- |
- |
|
Total Operating Expense |
27.4 |
25.9 |
23.0 |
13.3 |
|
|
|
|
|
|
|
Non - Operating Income |
0.9 |
0.0 |
1.6 |
0.6 |
|
Non - Operating Expense |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Net Income Before Taxes |
5.3 |
4.2 |
5.1 |
1.7 |
|
|
|
|
|
|
|
Provision for Income Taxes |
0.9 |
0.7 |
0.8 |
0.2 |
|
Net Income After Taxes |
4.4 |
3.5 |
4.3 |
1.5 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
4.4 |
3.5 |
4.3 |
1.5 |
|
Net Income |
4.4 |
3.5 |
4.3 |
1.5 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
4.4 |
3.5 |
4.3 |
1.5 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
4.4 |
3.5 |
4.3 |
1.5 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
88.0 |
88.0 |
66.0 |
66.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.05 |
0.04 |
0.07 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.05 |
0.04 |
0.07 |
0.02 |
|
Diluted Net Income |
4.4 |
3.5 |
4.3 |
1.5 |
|
Diluted Weighted Average Shares |
88.0 |
88.0 |
66.0 |
66.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.05 |
0.04 |
0.07 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.05 |
0.04 |
0.07 |
0.02 |
|
DPS-A Share |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
5.6 |
4.2 |
5.1 |
1.8 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.7 |
0.8 |
0.2 |
|
Normalized Income After Taxes |
4.7 |
3.6 |
4.3 |
1.6 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.7 |
3.6 |
4.3 |
1.6 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.04 |
0.07 |
0.02 |
|
Diluted Normalized EPS |
0.05 |
0.04 |
0.07 |
0.02 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash and Cash Equivalent |
13.5 |
15.4 |
10.3 |
|
Notes Receivable |
5.8 |
2.0 |
0.5 |
|
Accounts Receivable, Gross |
8.0 |
4.0 |
- |
|
Provision for Doubtful Accounts |
-1.0 |
-0.4 |
- |
|
Accounts Receivable, Net |
- |
- |
4.8 |
|
Payment in Advance |
4.7 |
1.9 |
6.6 |
|
Other Receivables |
0.4 |
0.3 |
0.4 |
|
Raw Material |
11.2 |
6.7 |
3.4 |
|
Outsourcing Semi-finished Products |
0.4 |
0.0 |
0.1 |
|
Semi-finished Products |
1.8 |
0.9 |
1.6 |
|
Work-in-Process |
3.7 |
3.2 |
3.5 |
|
Stored Goods |
13.9 |
10.2 |
11.4 |
|
Total Current Assets |
62.4 |
44.2 |
42.5 |
|
|
|
|
|
|
Long Term Equity Investment |
5.2 |
0.0 |
0.1 |
|
Fixed Assets, Net |
- |
- |
12.3 |
|
Buildings & Structures |
13.4 |
8.5 |
- |
|
Machinery and Equipment |
20.2 |
12.6 |
- |
|
Transportation Equipment |
0.5 |
0.4 |
- |
|
Other Equipment |
0.4 |
0.1 |
- |
|
Accumulated Depreciation |
-8.6 |
-7.0 |
- |
|
Construction in Progress |
4.6 |
6.0 |
1.2 |
|
Intangible Assets, Net |
6.7 |
6.5 |
2.5 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
|
Deferred Tax Assets |
0.3 |
0.1 |
0.2 |
|
Total Assets |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
Short Term Borrowing |
23.3 |
9.7 |
9.1 |
|
Notes Payable |
- |
0.0 |
0.6 |
|
Accounts Payable |
16.4 |
5.4 |
6.9 |
|
Customer Advance |
16.2 |
11.9 |
11.2 |
|
Accrued Payroll |
1.3 |
1.3 |
0.8 |
|
Tax Payable |
1.6 |
0.3 |
-0.7 |
|
Dividend Payable |
0.5 |
0.9 |
0.7 |
|
Other Creditors |
0.6 |
2.2 |
0.5 |
|
Current Portion of LT Debt |
3.7 |
3.6 |
0.5 |
|
Total Current Liabilities |
63.5 |
35.3 |
29.7 |
|
|
|
|
|
|
Long Term Borrowing |
0.8 |
4.3 |
1.2 |
|
Total Long Term Debt |
0.8 |
4.3 |
1.2 |
|
|
|
|
|
|
Long Term Payables |
0.5 |
0.6 |
0.8 |
|
Special Payables |
1.8 |
2.3 |
2.3 |
|
Other Non-current Liabilities |
2.0 |
2.0 |
2.0 |
|
Minority Interest |
0.9 |
2.5 |
2.5 |
|
Total Liabilities |
69.5 |
46.9 |
38.5 |
|
|
|
|
|
|
Capital Stock |
10.0 |
9.7 |
9.7 |
|
Paid in Capital |
5.2 |
5.0 |
5.0 |
|
Surplus Reserve |
2.3 |
1.1 |
0.5 |
|
Undistributed Profit |
18.0 |
8.9 |
5.1 |
|
Translation Adjustments |
0.0 |
0.0 |
0.0 |
|
Total Equity |
35.5 |
24.7 |
20.3 |
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
105.0 |
71.5 |
58.8 |
|
|
|
|
|
|
S/O-A Share |
66.0 |
66.0 |
66.0 |
|
Total Common Shares Outstanding |
66.0 |
66.0 |
66.0 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
16.2 |
11.9 |
11.2 |
|
Accumulated Intangible Amort, Suppl. |
0.9 |
0.7 |
- |
|
Full-Time Employees |
787 |
- |
- |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
|
Exchange Rate |
6.464 |
6.5485 |
|
|
|
|
|
Cash and Cash Equivalent |
99.6 |
133.8 |
|
Notes Receivable |
4.6 |
4.9 |
|
Accounts Receivable, Net |
10.0 |
8.4 |
|
Payment in Advance |
10.0 |
6.9 |
|
Other Receivables |
0.6 |
0.5 |
|
Inventory, Net |
46.5 |
39.3 |
|
Total Current Assets |
171.3 |
193.7 |
|
|
|
|
|
Long Term Equity Investment |
5.3 |
5.2 |
|
Fixed Assets, Net |
31.1 |
31.1 |
|
Construction in Progress |
7.5 |
1.4 |
|
Intangible Assets, Net |
6.7 |
6.7 |
|
Goodwill, Net |
0.0 |
0.0 |
|
Deferred Tax Assets |
0.2 |
0.3 |
|
Total Assets |
222.2 |
238.5 |
|
|
|
|
|
Short Term Borrowing |
6.2 |
22.2 |
|
Accounts Payable |
18.7 |
19.3 |
|
Customer Advance |
17.9 |
16.7 |
|
Accrued Payroll |
1.7 |
1.0 |
|
Tax Payable |
1.0 |
0.6 |
|
Dividend Payable |
1.4 |
0.5 |
|
Other Creditors |
0.7 |
2.4 |
|
Current Portion of LT Debt |
- |
3.7 |
|
Total Current Liabilities |
47.6 |
66.3 |
|
|
|
|
|
Long Term Borrowing |
- |
0.8 |
|
Total Long Term Debt |
- |
0.8 |
|
|
|
|
|
Long Term Payables |
0.4 |
0.5 |
|
Special Payables |
1.2 |
1.8 |
|
Other Non-current Liabilities |
2.0 |
2.0 |
|
Minority Interest |
0.9 |
0.9 |
|
Total Liabilities |
52.1 |
72.3 |
|
|
|
|
|
Capital Stock |
13.6 |
13.4 |
|
Paid in Capital |
130.5 |
128.8 |
|
Surplus Reserve |
2.4 |
2.3 |
|
Undistributed Profit |
23.7 |
21.6 |
|
Translation Adjustments |
0.0 |
0.0 |
|
Total Equity |
170.1 |
166.2 |
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
222.2 |
238.5 |
|
|
|
|
|
S/O-A Share |
88.0 |
88.0 |
|
Total Common Shares Outstanding |
88.0 |
88.0 |
|
T/S-A Share |
0.0 |
0.0 |
|
Customer Advance |
17.9 |
16.7 |
|
Number of Common Shareholders |
19,575 |
20,439 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
Jiangsu
Suyajincheng CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
Cash from Sale of Goods & Services |
106.7 |
65.0 |
53.1 |
|
Cash Paid for Goods and Services |
-87.9 |
-52.9 |
-45.3 |
|
Refund of Taxes |
0.0 |
1.4 |
1.0 |
|
Other Cash from Operating Activities |
2.4 |
1.5 |
2.0 |
|
All Taxes Paid |
-2.1 |
-2.5 |
-1.8 |
|
Other Cash Paid for Operating Activities |
-9.6 |
-5.5 |
-5.7 |
|
Cash from Operating Activities |
9.6 |
7.1 |
3.3 |
|
|
|
|
|
|
Sale/Maturity/Redemption of Investments |
- |
0.1 |
- |
|
Sale of FA/Intangibles/Other Assets |
0.0 |
0.0 |
- |
|
Cash from Disposal of Subsidiaries |
0.0 |
0.0 |
0.0 |
|
Capital Expenditure |
-14.2 |
-6.8 |
-3.9 |
|
Cash Paid for Purchase of Investments |
-0.1 |
0.0 |
0.0 |
|
Cash Paid for Acquisition of Subsidiary |
-3.7 |
- |
- |
|
Cash from Investing Activities |
-18.0 |
-6.7 |
-3.9 |
|
|
|
|
|
|
Cash from Investors |
- |
0.0 |
1.7 |
|
Cash from Borrowings |
26.8 |
25.0 |
12.1 |
|
Repayment of Borrowings |
-17.9 |
-17.9 |
-7.2 |
|
Cash Paid for Dividend and Interest |
-2.9 |
-2.0 |
-2.9 |
|
Cash from Financing Activities |
6.0 |
5.0 |
3.7 |
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
-2.5 |
5.4 |
3.0 |
|
|
|
|
|
|
Net Cash - Beginning Balance |
15.2 |
9.6 |
6.4 |
|
Net Cash - Ending Balance |
12.7 |
15.0 |
9.4 |
|
Depreciation |
1.4 |
0.9 |
0.8 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.1 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
6 Months |
3 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.541904 |
6.583076 |
6.825839 |
6.827505 |
|
|
|
|
|
|
|
Cash from Sale of Goods & Services |
71.5 |
35.7 |
46.2 |
20.2 |
|
Cash Paid for Goods and Services |
-67.5 |
-33.0 |
-37.4 |
-16.7 |
|
Refund of Taxes |
0.7 |
0.6 |
- |
- |
|
Other Cash from Operating Activities |
0.7 |
0.4 |
0.8 |
0.6 |
|
All Taxes Paid |
-3.3 |
-1.9 |
-1.4 |
-0.2 |
|
Other Cash Paid for Operating Activities |
-5.5 |
-3.2 |
-4.5 |
-1.4 |
|
Cash from Operating Activities |
-3.4 |
-1.5 |
3.6 |
2.4 |
|
|
|
|
|
|
|
Sale of FA/Intangibles/Other Assets |
- |
- |
0.0 |
- |
|
Cash from Disposal of Subsidiaries |
- |
- |
0.0 |
- |
|
Capital Expenditure |
-14.8 |
-4.8 |
-6.6 |
-3.0 |
|
Cash Paid for Purchase of Investments |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Cash from Investing Activities |
-14.8 |
-4.8 |
-6.7 |
-3.1 |
|
|
|
|
|
|
|
Cash from Investors |
128.3 |
127.5 |
- |
- |
|
Cash from Borrowings |
8.6 |
6.7 |
5.3 |
3.7 |
|
Repayment of Borrowings |
-30.4 |
-7.9 |
-4.0 |
-3.2 |
|
Cash Paid for Dividend and Interest |
-2.4 |
-0.4 |
-1.6 |
-0.2 |
|
Cash paid for other financing activities |
-1.1 |
- |
- |
- |
|
Cash from Financing Activities |
103.0 |
125.9 |
-0.3 |
0.2 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
84.8 |
119.5 |
-3.3 |
-0.5 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.6 |
13.5 |
15.0 |
15.4 |
|
Net Cash - Ending Balance |
98.4 |
133.1 |
11.7 |
14.9 |
|
Depreciation |
1.0 |
- |
0.6 |
- |
|
Amortization of Intangibles |
0.1 |
- |
0.1 |
- |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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Geographic Segments
Financials in: As Reported (mil)
|
Interim |
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|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
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.