MIRA INFORM REPORT
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Report Date : |
20.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HANSOL TECHNICS CO LTD |
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Formerly Known As : |
HANSOL LCD CO., LTD |
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Registered Office : |
736-1, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea, 11th Fl., Capital
Tower, Zip Code 135-983 |
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Country : |
South korea |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
20.08.1966 |
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Com. Reg. No.: |
120-81-53945 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Electronic Valves and Tubes |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Korea |
a1 |
a1 |
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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 |
Basic
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Company
Name |
HANSOL TECHNICS
CO., LTD. (Ex. Company
Name : HANSOL LCD CO., LTD., “한솔LCD(주)”) (Korean Company
Name : “한솔테크닉스(주)”) |
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Registered Address |
736-1, Yeoksam 1-dong, Gangnam-gu, Seoul,
Korea |
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Building |
11th Fl., Capital Tower |
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Zip Code |
135-983 |
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Tel |
+82-2-3287-7903 |
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Fax |
+82-2-3287-7909 |
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E-mail |
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Website |
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Trading Address |
11th Fl., Hansol Bldg., 736-1, Yeoksam
1-dong, Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-3287-7903 |
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Fax |
+82-2-3287-7909 |
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Other Address-Jincheon Factory |
27-29, Hancheon-ri, Deoksan-myeon,
Jincheon-gun, Chungcheongbuk-do, Korea |
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Tel |
+82-43-530-8000 |
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Fax |
+82-43-536-8105 |
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Other Address-Ochang Factory |
1112-1, Namchon-ri, Oksan-myeon, Cheongwon-gun,
Chungbuk, Korea |
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Tel |
+82-43-219-3000 |
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Fax |
+82-43-219-3225 |
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Type |
Export/Import |
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Industry |
Manufacture of Electronic Valves and Tubes |
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Main Business |
Back Light Unit, Inverter, Cathode Ray Tube Monitor, LCD Monitor |
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Established (mm/dd/yyyy) |
08/20/1966 |
The Subject owns
the premises of Jincheon Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Cathode ray tube CRT monitors(43211901) |
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Sell |
Televisions(52161505) |
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Sell |
Liquid crystal display LCD panels or
monitors(43211902) |
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Sell |
Computer display accessories(43212000) |
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Sell |
Light emitting
diodes LEDs(32111503) |
CEO’s
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Name |
Kim Chi-Woo |
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Date of Birth |
09/07/1950 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
42,846,265,000 |
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Employees |
1,327 |
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Formation |
Listed Company (Korea Stock Exchange : 004710) as of 07/06/1998 A Company of HANSOL GROUP |
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Bank Details |
Nonghyup Bank Hana Bank Korea Development Bank |
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Corporate Registered No. |
110111-0004682 |
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Business Registered No. |
120-81-53945 |
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Permit & Licenses |
Int’l Trade No.: 680341 |
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Shareholder Position |
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Company History |
08/20/1966 Incorporated as HANKUK MABEL
CO., LTD. 11/1995 Changed company name to HANSOL
ELECTRONICS CO., LTD. 03/28/2003 Changed company name to HANSOL LCD CO., LTD. 11/15/2005 Moved to the present HQ address 03/02/2007 Acquired S-LIGHTECH CO.,
LTD.(110111-3290725) 10/29/2010 Acquired CRYSTALON CO.,
LTD.(110111-3082479) 12/10/2010 Changed company name to the present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
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President & CEO |
Mr. |
Kim Chi-Woo |
Male |
Korean |
1950.09.07 |
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Director |
Mr. |
Kim Hern-Mok |
Male |
Korean |
1954.03.01 |
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Executive Director |
Mr. |
Park Soo-Hee |
Male |
Korean |
1959.08.25 |
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Outside Director |
Mr. |
Choi Jong-Deok |
Male |
Korean |
1953.08.25 |
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Auditor |
Mr. |
Lee Jong-Hae |
Male |
Korean |
1951.08.07 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
570,494,660,632 |
410,874,605,122 |
5,972,779,299 |
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|
2010 |
1,531,558,940,151 |
341,371,742,596 |
11,214,678,221 |
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2009 |
1,102,193,809,435 |
231,473,447,156 |
21,159,474,501 |
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2008 |
1,095,765,792,935 |
214,795,035,243 |
6,321,824,106 |
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2007 |
744,449,656,974 |
222,844,312,473 |
9,240,508,196 |
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2006 |
881,712,357,283 |
186,774,580,004 |
38,558,758,777 |
|
2005 |
596,013,971,554 |
192,228,882,922 |
22,278,292,549 |
(*)06/2011 ‘s figures are based on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
150,000,000,000 |
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Paid-Up Capital(KRW) |
42,846,265,000 |
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Total Issued Shares |
8,569,253 |
Balance
Sheet
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|||
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Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
410,874,605,122 |
345,250,121,345 |
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Current
Assets |
121,254,250,033 |
146,708,831,514 |
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Cash & Cash Equivalents |
466,305,384 |
6,147,104,246 |
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Trade Receivables |
68,950,764,927 |
95,399,240,959 |
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Other Receivables |
9,776,010,057 |
8,295,213,393 |
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Derivatives |
77,498,719 |
452,741,921 |
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Inventories |
36,297,064,415 |
30,744,562,525 |
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Other Current Assets |
5,686,606,531 |
5,669,968,470 |
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Non-Current
Assets |
289,620,355,089 |
198,541,289,831 |
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Tangibles |
192,276,016,978 |
125,095,495,289 |
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Intangibles |
42,230,563,880 |
4,997,622,021 |
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Investment_Subsidiaries |
48,823,542,618 |
62,971,558,619 |
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Marketable Financial Instruments |
154,070,369 |
154,070,369 |
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Deferred Income Tax Assets |
3,433,927,274 |
3,529,597,760 |
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Non-Current Financial Instruments |
4,500,000 |
4,500,000 |
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Loans |
7,965,831 |
13,365,831 |
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Other Non-Current Assets |
205,471,000 |
0 |
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Non-Current Financial Instruments |
2,484,297,139 |
1,775,079,942 |
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Total
Liabilities |
193,239,832,883 |
165,494,253,472 |
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Current
Liabilities |
104,857,841,827 |
135,588,046,733 |
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Trade Payables |
54,751,877,293 |
111,112,834,998 |
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Account Payables |
2,985,194,735 |
4,214,617,957 |
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Accrued Expenses |
2,573,130,465 |
2,634,742,171 |
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Short-Term Borrowings |
42,150,300,000 |
12,000,000,000 |
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Derivatives |
73,972,979 |
433,647,532 |
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Accrued Income Tax |
4,806,880 |
2,990,002,251 |
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Finance Lease Debts |
1,161,105,752 |
0 |
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Current Portion of Long-Term
Debts |
242,500,000 |
284,725,000 |
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Other Current Liabilities |
914,953,723 |
1,917,476,824 |
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Non-Current
Liabilities |
88,381,991,056 |
29,906,206,739 |
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Provision for Severance &
Retirement |
15,596,659,507 |
15,759,272,020 |
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Long-Term Borrowings |
70,727,500,000 |
14,000,000,000 |
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Long-Term Account Payables |
170,215,709 |
0 |
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Long-Term Finance Lease Debts |
1,748,598,607 |
0 |
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Provisions |
139,017,233 |
146,934,719 |
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Capital
Stock |
42,846,265,000 |
38,206,890,000 |
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Capital Surplus |
96,404,677,418 |
45,114,613,113 |
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Profit Surplus |
101,900,131,723 |
97,773,115,831 |
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Others |
-23,516,301,902 |
-1,338,751,071 |
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Total Equity |
217,634,772,239 |
179,755,867,873 |
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Liab. & Shareholder’s Equity |
410,874,605,122 |
345,250,121,345 |
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Balance Sheet |
|||
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Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
341,371,742,596 |
231,473,447,156 |
214,795,035,243 |
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Current Assets |
147,101,668,203 |
84,099,709,448 |
72,465,853,017 |
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-Quick Assets |
116,357,105,678 |
62,854,392,869 |
56,688,173,699 |
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-Inventories |
30,744,562,525 |
21,245,316,579 |
15,777,679,318 |
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Fixed Assets |
194,270,074,393 |
147,373,737,708 |
142,329,182,226 |
|
-Investment |
60,721,241,381 |
41,941,578,894 |
24,674,195,296 |
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-Tangibles |
125,095,495,289 |
95,335,266,051 |
108,168,483,381 |
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-Intangibles |
0 |
0 |
0 |
|
-Others |
8,453,337,723 |
10,096,892,763 |
9,486,503,549 |
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Total Liabilities |
164,452,907,523 |
105,541,002,536 |
106,114,172,393 |
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Current Liabilities |
135,588,046,733 |
91,119,372,326 |
92,763,586,844 |
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Fixed Liabilities |
28,864,860,790 |
14,421,630,210 |
13,350,585,549 |
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Capital Stock |
38,206,890,000 |
31,641,320,000 |
31,641,320,000 |
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Capital Surplus |
48,854,501,863 |
15,098,756,321 |
15,098,756,321 |
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Profit Surplus |
91,744,199,686 |
82,031,582,715 |
62,374,169,464 |
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Capital Adjustment |
-1,886,756,476 |
-2,839,214,416 |
-433,382,935 |
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Total Equity |
176,918,835,073 |
125,932,444,620 |
108,680,862,850 |
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Liab. & Shareholder’s Equity |
341,371,742,596 |
231,473,447,156 |
214,795,035,243 |
Income
Statement
|
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
570,494,660,632 |
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|
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Cost of Sold Goods |
547,043,511,119 |
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|
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Gross Profit |
23,451,149,513 |
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|
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Selling & Admin. Expenses |
21,901,919,668 |
|
|
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Other Operating Income |
2,330,346,761 |
|
|
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Other Operating Expenses |
349,323,618 |
|
|
|
Operating Income |
3,530,252,988 |
|
|
|
Finance Income |
9,394,164,872 |
|
|
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Finance Expenses |
12,133,500,643 |
|
|
|
Profits from Disposal of Stocks by Equity Method |
5,783,907,800 |
|
|
|
Income Before Taxes |
6,574,825,017 |
|
|
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Income Taxes Expenses |
602,045,718 |
|
|
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Net Income |
5,972,779,299 |
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|
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Income Statement |
|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
1,531,558,940,151 |
1,102,193,809,435 |
1,095,765,792,935 |
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Cost of Sold Goods |
1,471,254,839,964 |
1,051,805,844,091 |
1,029,259,350,244 |
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Gross Profit |
60,304,100,187 |
50,387,965,344 |
66,506,442,691 |
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Selling & Admin. Expenses |
40,915,788,603 |
39,147,247,107 |
47,391,531,754 |
|
Operating Income |
19,388,311,584 |
11,240,718,237 |
19,114,910,937 |
|
Non-Operating Income |
53,345,339,008 |
67,165,804,118 |
94,744,811,254 |
|
Non-Operating Expenses |
55,994,429,193 |
55,289,433,032 |
104,285,009,519 |
|
Income Before Taxes from
Continuous Business |
16,739,221,399 |
23,117,089,323 |
9,574,712,672 |
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Income Taxes from Continuous
Business |
5,524,543,178 |
1,957,614,822 |
3,252,888,566 |
|
Income from Continuous Business |
11,214,678,221 |
21,159,474,501 |
6,321,824,106 |
|
Net Income |
11,214,678,221 |
21,159,474,501 |
6,321,824,106 |
Cash
Flows
|
|||
|
Unit :
Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
-20,470,364,773 |
|
|
|
Net
Income |
5,972,779,299 |
|
|
|
Adjustment |
4,793,117,162 |
|
|
|
Changes in Asset/ & Liability |
-27,254,125,457 |
|
|
|
Interests
Received |
94,671,821 |
|
|
|
Interests
Paid |
-1,925,301,878 |
|
|
|
Income
Taxes |
-2,151,505,720 |
|
|
|
Cash Flows from Investing |
-59,336,501,898 |
|
|
|
Cash Flows from Financing |
74,126,067,809 |
|
|
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Increase/Decrease in Cash |
-5,680,798,862 |
|
|
|
Cash at the Beginning of Year |
6,147,104,246 |
|
|
|
Cash at the End of Year |
466,305,384 |
|
|
|
Cash Flows |
|||
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
594,156,154 |
18,833,682,099 |
46,511,028,999 |
|
-Net Income |
11,214,678,221 |
21,159,474,501 |
6,321,824,106 |
|
-Exp.
without Cash Outflow |
21,551,936,924 |
24,521,901,068 |
36,369,542,691 |
|
-Revenue
without Cash Inflows |
-4,523,177,105 |
-21,388,632,016 |
-9,814,120,161 |
|
-Changes in
Asset/ & Liability |
-27,649,281,886 |
-5,459,061,454 |
13,633,782,363 |
|
Cash Flows
from Investing |
-58,852,951,215 |
1,976,634,148 |
-22,162,672,893 |
|
-Cash Inflow
from Investing |
1,571,366,899 |
12,600,431,452 |
2,606,436,941 |
|
-Cash
Outflows for Investing |
-60,424,318,114 |
-10,623,797,304 |
-24,769,109,834 |
|
Cash Flows
from Financing |
47,711,167,451 |
-7,196,047,250 |
-21,434,137,448 |
|
-Cash
Inflows from Financing |
66,321,315,542 |
34,884,814,000 |
45,507,678,980 |
|
-Cash
Outflows from Financing |
-18,610,148,091 |
-42,080,861,250 |
-66,941,816,428 |
|
Increase/Decrease
in Cash |
-10,547,627,610 |
13,614,268,997 |
2,914,218,658 |
|
Cash at the
Beginning of Year |
16,693,552,663 |
3,079,283,666 |
165,065,008 |
|
Cash at the End of Year |
6,145,925,053 |
16,693,552,663 |
3,079,283,666 |
Products, Technologies, Services Description
|
Main Products & Services |
Back Light Unit, Inverter, Cathode Ray Tube Monitor, LCD Monitor Brand Name : Hansol |
Trade Partners & Competitors
|
Suppliers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) 3M KOREA LTD.(110111-0219356) SHINWHA INTERTEK CORP.(134811-0011677) SAMSUNG ELECTRO-MECHANICS CO., LTD.(130111-0001626) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) HANSOL LCD SLOVAKIA S.R.O. HANSOL ELECTRONICS (THAILAND) CO., LTD. |
|
Competitors |
DS LCD CO., LTD. 583-2, GEUMGOK-RI, DONGTAN-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-378-6700 FAX:+82-31-378-6711 NEW OPTICS LTD. GUAM LOCAL INDUSTRIAL COMPLEX, 203,
GUAM-RI, NAM-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-860-7700 FAX:+82-31-860-7771 DAESUNG ELECTRIC CO., LTD. 8B-27L, BANWOL INDUSTRIAL COMPLEX, 743-5,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-1141 FAX:+82-31-495-4887 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
HANSOL PAPER CO., LTD.(110111-0017867) HANSOL HOMEDECO CO.,LTD.(110111-0825624) HANSOL CHEMICAL CO., LTD(110111-0270895) HANSOL CONSTRUCTION
CO.,LTD.(110111-2664400) HANSOL DEVELOPMENT CO.,
LTD.(141211-0005540) HANSOL CSN CO.,LTD(110111-0150659) HANSOL EME CO., LTD.(160111-0123185) INNOPTIX CO.,LTD(110111-2296253) HANSOL PNS CO.,LTD. (110111-0175970) SEOUL PAPER CO., LTD.(110111-0990609) CNP CHEMICAL CO., LTD.(124411-0043349) E-SERVICE CO.,LTD.(284311-0011634) SEOUL PAPER CO.,LTD.(110111-0990609) MUNGYEONG ESCO CO.,LTD.(131311-0079553) HANSOL INTICUBE CO., LTD.(110111-2915605) MAUL SOUP CO., LTD.(110111-3858078) ARTONE PAPER MFG. CO.,LTD.(134811-0000034) ILJIN PAPER CO.,LTD.(110111-0641327) HANSOL LIGHTING INC.(110111-3626003) (24.0% held by the subject company) |
|
Affiliates-Overseas |
GLOBAL FIBRES INC. SOUTH CHINA PAPER HANSOL AUSTRALIA C. K. FIBERS HANSOL HONG KONG HANSOL P.I. HANSOL NEW ZEALAND KOPRI HANSOL ELECTRONICS THAILAND BRIGHTECH CO., LTD. HANSOL LCD SLOVAKIA S.R.O KOREA INTERNATIONAL FREIGHT TRANSPORTATION
(SHANGHAI) CO., LTD. KOREA INTERNATIONAL FREIGHT TRANSPORTATION
(TENJIN) CO., LTD. HANSOL GOLDPOINT TIANJIN DAEYOUNG PAINT CO.LTD HANSOL CSN LOGISTICS INDIA PRIVATE LIMITED TIANJIN OPTOWAVE CO., LTD |
|
Subsidiary |
HANSOL ELECTRONICS (THAILAND) CO., LTD. (100.0% held by the subject company) HANSOL LCD SLOVAKIA S.R.O. (77.9% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2011 |
2010 |
2009 |
|
Export |
501,792 |
1,460,308 |
1,072,183 |
|
Domestic |
68,699 |
71,251 |
30,011 |
|
Total |
570,491 |
1,531,559 |
1,102,194 |
The Subject exports
to Europe, North America and Asia.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.18 |
|
UK Pound |
1 |
Rs.77.49 |
|
Euro |
1 |
Rs.67.96 |
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.