MIRA INFORM REPORT

Report Date :

29.07.2011

IDENTIFICATION DETAILS

Name :	BIG SUN ENERGY TECHNOLOGY INC.

Registered Office :	No.458-9, Sinsing Rd., Hukou Township, Hsinchu County 303

Country :	Taiwan

Date of Incorporation :	19.05.2006

Com. Reg. No.:	28318416

Legal Form :	Joint Stock Company

Line of Business :	Sales of Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 80,000
Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Taiwan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Contact Points

Company Name:	Big Sun Energy Technology Inc.
Supplied Name:	Big Sun Energy Technology Inc
Trading Address:	No.458-9, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.)
Supplied Address:	No. 458-9 Sinsing Rd., Hukou Township Hsinchu County, Taiwan
Telephone Number:	+886-3-5980288
Fax Number:	+886-3-5980299

Credit Summary

Credit Rating:	Maximum credit USD 80,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Big Sun Energy Technology Inc.
Registered Address:	No.458-9, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.)
Date of Foundation:	2006-5-19
Registration Number:	28318416
Registry:	Department of Commerce, Ministry of Economic Affairs, R.O.C.
Registered Capital:	NTD 2,200,000,000 (USD 76,340,000) (As of 2011.07, 1 NTD = 0.0347 USD)
Paid-up Capital:	NTD 1,350,770,000 (USD 46,871,719)
Legal Representatives:	Jiaqing Luo
Legal Form:	Joint Stock Company
Principal Activities:	Sales of Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell
Staff:	More than 20 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-6-30

History

Subject was incorporated on 2006-5-19 with registered number 28318416 as Joint Stock Company in Taiwan.

Awards

Year	Awards
2007	Blue chip importer and exporter
2008	Blue chip importer and exporter
2009	Blue chip importer and exporter

Standard of Blue chip importer and exporter

Unit: USD

Year	Amount
2007	18,000,000
2008	19,000,000
2009	15,000,000

Shareholders

Name	Subscription Shares
Jiaqing Luo	8,872,306
Qinxian Zhu
732,000
Huanbang Xie	3,600,000
Minji Lu	2,008,404
Wensheng Xiao	856,132
Shangyuan Development Investment Co., Ltd	804,457
Yuhe Chen	379,096
Mifu Zou	190,840
Quancai Huang	454,507
Maoyuan He	400,000

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Personnel Information

Core Management

Directors

1
Name	Jiaqing Luo
Position	Board Chairman
2
Name	Qinxian Zhu
Position	Director
3
Name	Huanbang Xie
Position	Director
4
Name	Minji Lu
Position	Director
5
Name	Wensheng Xiao
Position	Director
6
Name	Shangyuan Development Investment Co., Ltd
Position	Director
7
Name	Yuhe Chen
Position	Independent Director
8
Name	Renxi Ni
Position	Independent Director
9
Name	Mifu Zou
Position	Auditor
10
Name	Quancai Huang
Position	Auditor
11
Name	Maoyuan He
Position	Auditor
12
Name	Zhengfu Li
Position	Auditor

Personnel Structure

Total Employees

More than 20 Employees

Operation Information

Offices & Factories

	Headquarters
Add	No.458-9, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.)

Production Information

l Subject produces Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell.

l The subject produces in Taiwan.

Purchase Information

l The raw materials for production are mostly purchased from domestic.

Sales Information

l The subject is mainly engaged in sales of Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell.

l The subject sells products around the world.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Product	Payment Terms	Proportion
Raw materials	COD, etc	100%

Foreign Purchase

The subject seldom imports.

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Mono-Crystalline Silicon Solar Cell, Multi-Crystalline Silicon Solar Cell	CBD, etc	100%

Financial Information

Year	Sales
2010	About USD 8,000,000

Bankers

Name	Taiwan Bank

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Name	Wensheng Xiao

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.12
UK Pound	1	Rs.72.05
Euro	1	Rs.63.33

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%)

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