MIRA INFORM
REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
YUNNAN TIN CO., LTD. |
|
|
|
|
Registered Office : |
New Hi - Tech Deve. Zone, Kunming, 650118 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
23.11.1998 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Exploration, Mining, Dressing, Smelting, Refining and processing of tin and other
non-ferrous metals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
China |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bottom of Form
Company name & address
Yunnan Tin Co., Ltd.
New Hi - Tech Deve. Zone
Kunming, 650118
China
Tel: 86-873-3118606
Fax: 86-873-3118308
E-mail: english.ytclmc.com
Synthesis
Employees: 15,297
Company Type: Public Independent
Traded: Shenzhen
Stock Exchange: 000960
Incorporation Date:
23-Nov-1998
Auditor: ShineWing Certified Public Accountants
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Chinese
Renminbi
Annual Sales: 1,369.0 1
Net Income: 54.1
Total Assets:
1,719.5 2
Market Value:
4,350.1
(22-Jul-2011)
Business Description
Yunnan Tin Co.,
Ltd. is principally engaged in the exploration, mining, dressing, smelting,
refining and processing of tin and other non-ferrous metals. The Company mainly
offers tin ingots, tin-lead solders and unleaded solders, lead ingots, tin
chemicals, tin materials, copper ore concentrates, bismuth ingots, indium
ingots and tin base alloy, among others. The Company distributes its products
within the domestic markets and to overseas markets. During the year ended
December 31, 2010, the Company produced 88,751 metric tons of non-ferrous
metals, 15,301 metric tons of tin chemicals and 16,943 metric tons of tin
materials. For the three months ended 31 March 2011, Yunnan Tin Company
Limited's revenues increased 57% to RMB3.20B. Net income for this period
totalled RMB185.9M, up from RMB71.0M. Total revenues reflect higher sales
volume due to increased market demand for the Company's products. Net income
also benefited from higher gross profit margin and non-operating income compared
with the corresponding period last year.
Industry
Industry Metal Mining
ANZSIC 2006: 2139 - Other Basic
Non-Ferrous Metal Manufacturing
NACE 2002: 2745 - Other
non-ferrous metal production
NAICS 2002: 331419 - Primary
Smelting and Refining of Nonferrous Metal (except Copper and Aluminum)
UK SIC 2003: 2745 - Other
non-ferrous metal production
US SIC 1987: 3339 - Primary
Smelting and Refining of Nonferrous Metals, Except Copper and Aluminum
Key Executives
|
Name |
Title |
|
Zhiwei Huangfu |
Vice Chairman of the Board, General
Manager |
|
Xia Li |
Secretary of the Board |
|
Ping Chen |
Deputy General Manager |
|
Qi Yi Cheng |
Co-Vice General Manager |
|
Yi Lei |
Chairman of the Board |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Regulatory |
1 |
Yunnan Tin Co., Ltd. Announces Corrective
Actions |
8-Dec-2010 |
|
Accounting Issues/SEC Inquiries |
1 |
Yunnan Tin Co., Ltd. Restates FY 2010
Financial Statement |
6-May-2011 |
|
Strategic Combinations |
1 |
Yunnan Tin Co., Ltd. to Set up Joint
Venture |
16-Jul-2011 |
|
Expansion / New Markets / New Units |
2 |
Yunnan Tin Co., Ltd. to Set up Branch |
31-May-2011 |
|
Other Pre-Announcement |
1 |
Yunnan Tin Co., Ltd. Announces FY 2011 Q1
Net Profit Outlook |
12-Apr-2011 |
* number of
significant developments within the last 12 months,
News
|
Title |
Date |
|
CHINA
YUNNAN TIN TO FORM 100,000-TONNE COPPER UNIT |
2-Jun-2011 |
|
DJ China
Yunnan Tin To Set Up 100,000-Ton Copper Unit |
31-May-2011 |
|
Research
and Markets: Top 10 Companies in the Chinese Wholesale and Distribution
Industry: IT Spending Predictor 2010 |
7-Dec-2010 |
|
2nd Ld-Writethru:
Chinese shares tumble on tightening policy concern |
16-Nov-2010 |
|
Shanghai
Composite tumbles 5.2% on rate hike fears |
12-Nov-2010 |
|
|
|
|
Financial Summary
|
As of 31-Mar-2011 |
||||||||||||||||||||||||
|
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
New Hi - Tech Deve. Zone
Kunming, 650118
China
Tel: 86-873-3118606
Fax: 86-873-3118308
Quote Symbol – Exchange 000960
- Shenzhen Stock Exchange
Sales CNY(mil): 9,267.0
Assets CNY(mil): 11,331.1
Employees: 15,297
Fiscal Year End: 31-Dec-2010
Industry: Metal
Mining
Incorporation Date: 23-Nov-1998
Company Type: Public
Independent
Quoted Status: Quoted
Secretary of the Board: Xia
Li
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Home Page
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3339 - Other Hardware Goods Wholesaling
213 - Basic Non-Ferrous Metal Manufacturing
2139 - Other Basic Non-Ferrous Metal Manufacturing
2133 - Copper, Silver, Lead and Zinc Smelting and Refining
0809 - Other Metal Ore Mining
NACE 2002 Codes:
2745 - Other non-ferrous metal production
13 - Mining of Metal Ores
5153 - Wholesale of wood, construction materials and sanitary
equipment
2744 - Copper production
NAICS 2002 Codes:
331492 - Secondary Smelting, Refining, and Alloying of Nonferrous
Metal (except Copper and Aluminum)
331512 - Steel Investment Foundries
423390 - Other Construction Material Merchant Wholesalers
331419 - Primary Smelting and Refining of Nonferrous Metal (except
Copper and Aluminum)
212299 - All Other Metal Ore Mining
US SIC 1987:
3341 - Secondary Smelting and Refining of Nonferrous Metals
1099 - Miscellaneous Metal Ores, Not Elsewhere Classified
3331 - Primary Smelting and Refining of Copper
3339 - Primary Smelting and Refining of Nonferrous Metals, Except
Copper and Aluminum
5039 - Construction Materials, Not Elsewhere Classified
UK SIC 2003:
13 - Mining of Metal Ores
2745 - Other non-ferrous metal production
5153 - Wholesale of wood, construction materials and sanitary
equipment
2744 - Copper production
Business
Description
Yunnan Tin Co.,
Ltd. is principally engaged in the exploration, mining, dressing, smelting,
refining and processing of tin and other non-ferrous metals. The Company mainly
offers tin ingots, tin-lead solders and unleaded solders, lead ingots, tin
chemicals, tin materials, copper ore concentrates, bismuth ingots, indium
ingots and tin base alloy, among others. The Company distributes its products
within the domestic markets and to overseas markets. During the year ended
December 31, 2010, the Company produced 88,751 metric tons of non-ferrous
metals, 15,301 metric tons of tin chemicals and 16,943 metric tons of tin
materials. For the three months ended 31 March 2011, Yunnan Tin Company
Limited's revenues increased 57% to RMB3.20B. Net income for this period
totalled RMB185.9M, up from RMB71.0M. Total revenues reflect higher sales
volume due to increased market demand for the Company's products. Net income
also benefited from higher gross profit margin and non-operating income
compared with the corresponding period last year.
More Business
Descriptions
· Production of tin goods and other metals including lead and arsenic
· Nonferrous Metal (except Aluminum) Smelting and Refining
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
Equity and Dept
Distribution:
06/2011, Scrip
Issue,1 new shares for every 10 shares held.(1.1)shares for every 10 shares
held. WAS for Q2 2008 iscaculated. 08 I/S WAS is calculated. Cost of Sales of
I/S Q3 09 is mannually adjusted. 01/2010, Rights Issue,2.4 new shares for every
10 shares held @RMB8.98.(Factor: 1.163938) FY'10 Q3 WAS is calculated.
Key Corporate
Relationships
· Auditor: ShineWing Certified Public Accountants
· Auditor: ShineWing Certified Public Accountants
Executives Report
|
Board of
Directors |
|
|
|
|
|||||
|
Chairman of the Board |
Chairman |
|
|||||
|
||||||||
|
Vice Chairman of the Board |
Vice-Chairman |
|
|
||||
|
||||||||
|
Vice Chairman of the Board, General Manager |
Vice-Chairman |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||
|
||||||||
|
Executives |
|
|
|
|
|||||
|
Co-Vice General Manager |
Division Head Executive |
|
|||||
|
Vice Chairman of the Board, General Manager |
Division Head Executive |
|
|||||
|
||||||||
|
Co-Vice General Manager |
Division Head Executive |
|
|
||||
|
Co-Vice General Manager |
Division Head Executive |
|
|
||||
|
Secretary of the Board |
Company Secretary |
|
|
||||
|
||||||||
|
Deputy General Manager |
Other |
|
|
||||
|
||||||||
|
Deputy General Manager |
Other |
|
|
||||
|
||||||||
|
Deputy General Manager |
Other |
|
|
||||
|
||||||||
|
Executive Deputy General Manager |
Other |
|
|
||||
|
||||||||
Significant Developments
Yunnan Tin Co., Ltd. to Set up Joint Venture
Jul 16, 2011
Yunnan Tin Co., Ltd.
announced that it plans to set up a joint venture in Hong Kong with a Hong
Kong-based company, with the Company to hold a 51% stake in the joint venture.
The joint venture will be engaged in international trade, investment and
financing business.
Yunnan Tin Co.,
Ltd. to Apply for Comprehensive Credit Line
Jul 16, 2011
Yunnan Tin Co.,
Ltd. announced that it plans to apply to Yunnan Branch of China Development
Bank for a comprehensive credit line of USD 200 million, with a term of one
year.
Yunnan Tin Co.,
Ltd. to Set up Branch
May 31, 2011
Yunnan Tin Co.,
Ltd. announced that it will set up a copper industrial branch.
Yunnan Tin Co.,
Ltd. Restates FY 2010 Financial Statement
May 06, 2011
Yunnan Tin Co.,
Ltd. announced that it has restated its financial statement for fiscal year
2010, to which it made supplements.
Yunnan Tin Co.,
Ltd. to Issue Corporate Bonds
May 05, 2011
Yunnan Tin Co.,
Ltd. announced that it will issue up to RMB 1.2 billion worth of corporate
bonds, each with a term of seven years.
Yunnan Tin Co.,
Ltd. Announces FY 2010 Dividend Payment
Apr 20, 2011
Yunnan Tin Co.,
Ltd. announced that it will pay a cash dividend of RMB 1.2 per 10 shares
(pre-tax), and use additional paid-in capital to distribute one new share for
every 10 shares to shareholders for fiscal year 2010.
Yunnan Tin Co.,
Ltd. Announces FY 2011 Q1 Net Profit Outlook
Apr 12, 2011
Yunnan Tin Co.,
Ltd. announced that it announced that it expects its net profit for the first
quarter of fiscal year (FY) 2011 to be approximately RMB 185 million, compared
to that of the same period in FY 2010 (RMB 71,229,700). The Company cited the
increased sales and sale price as the main reason for the forecast.
Yunnan Tin Co.,
Ltd. to Issue Corporate Bonds
Mar 31, 2011
Yunnan Tin Co.,
Ltd. announced that it will issue up to RMB 1.2 billion worth of corporate
bonds, each with a term of five to ten years.
Yunnan Tin Co.,
Ltd. Announces Corrective Actions
Dec 08, 2010
Yunnan Tin Co.,
Ltd. announced the corrective actions according to the environmental protection
problems of the Company's two subsidiaries and a branch, identified by the
Office of the State Environmental Protection Department.
Yunnan Tin Co.,
Ltd. to Apply for Comprehensive Credit Line
Nov 29, 2010
Yunnan Tin Co., Ltd.
announced that it will apply to Kunming Branch of China Minsheng Bank for a
comprehensive credit line of RMB 1 billion, to Kunming Branch of China
Everbright Bank for a comprehensive credit line of RMB 500 million, and to
Fudian Bank for an additional comprehensive credit line of RMB 20 million, all
with a term of one year. The Company will also apply for a comprehensive credit
line of RMB 400 million to Beijing Branch of Nanyang Commercial Bank (China)
Limited, with a term of three years.
Yunnan Tin Co.,
Ltd. Subsidiary to Set up Subsidiaries in Germany
Sep 29, 2010
Yunnan Tin Co.,
Ltd. announced that its subsidiary plans to invest EUR 500,000 to set up two
wholly owned subsidiaries in Germany, Yunnan Tin Co., Ltd. and Yuntinic
additives GmbH, which will be engaged in sale of chemical products.
CHINA YUNNAN TIN TO FORM 100,000-TONNE COPPER UNIT
Asia Pulse Businesswire: 02 June 2011
[What follows is the full text of the news story.]
BEIJING, June
2Asia Pulse - China'sYunnan Tin Co. (SSZ:000960) will form a copper unit which
is expected to have an annual smelting capacity of 100,000 metric tons
(tonnes), said the south China-based miner in a statement.
The move is part
of the company's efforts to go beyond tin operations and diversify into other
metal sectors.
The country's
largest tin producer by output kicked off commercial operation of a
100,000-metric tonne lead smelting plant earlier this year.
Headquartered in
south China'sYunnan province, Yunnan Tin owns 50 per cent of the country's
total tin reserves. In addition, it also has 570,000 tonnes of copper reserves
that are expected to turn out 10,000 to 20,000 tonnes of copper concentrates
per year.
DJ China Yunnan
Tin To Set Up 100,000-Ton Copper Unit
OsterDowJones: 31 May 2011
[What follows is the full text of the news story.]
SHANGHAI, May 31,
2011 (Dow Jones Commodities News via Comtex) -- Yunnan Tin Co. (000960.SZ) said
Tuesday that it will set up a copper unit that it expects to have smelting
capacity of 100,000 tons a year, as part of efforts to diversify into other
metal sectors.
The country's
largest tin producer by output started commercially operating a 100,000-ton
lead smelting plant early this year as it sought to expand beyond its core
business.
Apart from owning
50% of China's total tin reserves, Yunnan Tin also has 570,000 tons of copper
reserves that can produce 10,000 to 20,000 tons of copper concentrate a year.
Around 0219 GMT,
its shares in Shenzhen were up 0.3% at CNY29.06.
-Yue Li
contributed to this article; Dow Jones Newswires; (8621) 6120 1200;
yue.li@dowjones.com
(END) Dow Jones
Newswires
05-31-112232ET
Research and
Markets: Top 10 Companies in the Chinese Wholesale and Distribution Industry:
IT Spending Predictor 2010
Business Wire: 07 December 2010
[What follows is the full text of the news story.]
DUBLIN--(BUSINESS
WIRE)-- Research and Markets
http://www.researchandmarkets.com/research/94dd0b/top_10_companies_i)
has announced the addition of the "Top 10 Companies in the Chinese
Wholesale and Distribution Industry: IT Spending Predictor 2010" report to
their offering.
This databook
provides estimates of IT spending for the top 10 companies in the Chinese
Wholesale and distribution industry. The databook is a comprehensive source of
IT spending by company, including assessment by technology and channel. The
databook also provides information on the IT contracts of these companies where
available.
The view of the
top 10 companies in the Chinese Wholesale and distribution sector in terms of
IT spending
A breakdown of the
estimated IT budget by technology for each of the top 10 companies
A breakdown of the
estimated IT budget by channel for each of the top 10 companies
Details of IT
services contracts by company where available
The top 10
companies in the Chinese wholesale and distribution industry in terms of
estimated IT spending spent the largest portion of their IT budgets on
services, a segment that accounted for about 27% of the IT budgets among these
firms. This was followed by spending on hardware and software.
Among the top 10
companies, a major portion of IT spending is allocated to internal IT. Internal
IT alone accounted for approximately 33% of the total estimated IT spending by
these companies. Minmetals Development Co Ltd remained the leading company in
terms of IT spending, followed by Xiamen C & D Inc. and Yunnan Tin Co.,
Ltd.
Gain insight into IT budget breakdown of top 10 companies in Chinese
wholesale and distribution industry and identify notable areas of allocation
Identify organizations with top IT expenditures in your target markets
Leverage IT spending pattern information to tailor account targeting
based on company demographics
Key Topics
Covered:
OVERVIEW
Catalyst
Summary
LIST OF FIGURES
LIST OF TABLES
INTRODUCTION
CHINESE WHOLESALE AND DISTRIBUTION INDUSTRY: ESTIMATED SPENDING ON IT
APPENDIX
LIST OF FIGURES
LIST OF TABLES
For more information visit
http://www.researchandmarkets.com/research/94dd0b/top_10_companies_i
Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
2nd Ld-Writethru:
Chinese shares tumble on tightening policy concern
Xinhua News Agency
(CEIS) (China): 16 November 2010
[What follows is
the full text of the news story.]
2nd Ld-Writethru: Chinese shares tumble on tightening policy concern�
�
� BEIJING, Nov. 16 (Xinhua) -- Chinese equities slid Tuesday as
investors feared prospects of higher interest rates and inflation control
policies would hurt earnings.
� Shares in property developers, metal companies and banking headed
the sell-off with the benchmark Shanghai Composite Index down 3.98 percent, or
119.88 points, to close at 2,894.54.
� The Shenzhen Component Index fell 4.61 percent, or 590.82 points, to
end at 12,217.27.
� Combined turnover expanded to 398.13 billion yuan (59.96 billion
U.S. dollars) from 355.3 billion yuan the previous trading day.
� Losers outnumbered gainers by 774 to 115 in Shanghai and 898 to 191
in Shenzhen.
� The Republic of Korea's decision Tuesday to raise benchmark interest
rates fueled speculation that China's central bank would soon follow suit,
adding to concerns about further tightening policies and leading to the tumble,
Guoyuan Securities analyst Huang Shuo said.
� Bank of China shed 3.49 percent to 3.32 yuan, while China
Construction Bank fell 5.29 percent to 4.83 yuan. China Everbright Bank dropped
6 percent to 4.07 yuan.
� China Vanke, the country's largest listed property developer by
market value, dropped 4.34 percent to 8.16 yuan. Poly Real Estate Group Co.,
China's second biggest developer, slumped 5.48 percent to 12.24 yuan.
� News of the government's price control policies further weighed on
market sentiment, analysts said.
� Tuesday's China Securities Journal cited an official with the
National Development and Reform Commission, the country's top economic planner,
saying the authorities were considering price control policies to maintain
inflation at a "bearable level."
� The non-ferrous metals sector saw a 7.38-percent fall.
� Shares of Jiangxi Copper Company, the country's largest metal
producer, dived 8.7 percent to 36.32 yuan. Yunnan Tin Co., Ltd. plunged by the
daily 10-percent limit to 32.03 yuan. Zijin Mining Group, China's largest gold
producer, declined 7.68 percent to 8.42 yuan. �
2nd Ld-Writethru:
Chinese shares tumble on tightening policy concern
Xinhua News
Agency: 16 November 2010
[What follows is
the full text of the news story.]
BEIJING, Nov. 16
(Xinhua) -- Chinese equities slid Tuesday as investors feared prospects of
higher interest rates and inflation control policies would hurt earnings.
Shares in property
developers, metal companies and banking headed the sell-off with the benchmark
Shanghai Composite Index down 3.98 percent, or 119.88 points, to close at
2,894.54.
The Shenzhen
Component Index fell 4.61 percent, or 590.82 points, to end at 12,217.27.
Combined turnover
expanded to 398.13 billion yuan (59.96 billion U.S. dollars) from 355.3 billion
yuan the previous trading day.
Losers outnumbered
gainers by 774 to 115 in Shanghai and 898 to 191 in Shenzhen.
The Republic of
Korea's decision Tuesday to raise benchmark interest rates fueled speculation
that China's central bank would soon follow suit, adding to concerns about
further tightening policies and leading to the tumble, Guoyuan Securities
analyst Huang Shuo said.
Bank of China shed
3.49 percent to 3.32 yuan, while China Construction Bank fell 5.29 percent to
4.83 yuan. China Everbright Bank dropped 6 percent to 4.07 yuan.
China Vanke, the
country's largest listed property developer by market value, dropped 4.34
percent to 8.16 yuan. Poly Real Estate Group Co., China's second biggest
developer, slumped 5.48 percent to 12.24 yuan.
News of the
government's price control policies further weighed on market sentiment,
analysts said.
Tuesday's China
Securities Journal cited an official with the National Development and Reform
Commission, the country's top economic planner, saying the authorities were
considering price control policies to maintain inflation at a "bearable
level."
The non-ferrous
metals sector saw a 7.38-percent fall.
Shares of Jiangxi
Copper Company, the country's largest metal producer, dived 8.7 percent to
36.32 yuan. Yunnan Tin Co., Ltd. plunged by the daily 10-percent limit to 32.03
yuan. Zijin Mining Group, China's largest gold producer, declined 7.68 percent
to 8.42 yuan.
Shanghai Composite tumbles 5.2% on rate hike fears
MarketWatch Bullets: 12 November 2010
[What follows is the full text of the news story.]
HONG KONG
(MarketWatch) -- Mainland Chinese shares suffered their worst decline in more
than a year on Friday, as fear of aggressive rate hikes and the impact of the
U.S. dollar's rise triggered a sell-off across sectors. But Macquarie
strategist Michael Kurtz says the fall was unlikely to be the beginning of a
bear market, given strong liquidity conditions. The Shanghai Composite Index
CN:SHCOMP tumbled 5.2% to 2,985.43, its worst percentage fall in more than a
year, while the Shenzhen Composite Index sank 6.1% to 1,296.95. Shares of
Yunnan Tin Co. CN:000960, China Southern Airlines Co. ZNHCN:600029 and Cosco
Shipping Co. CN:600428 fell by or close to the day's 10% limit, while SAIC
Motor Corp. CN:600104 and Jiangxi Copper Co. JIXAYCN:600362 fell nearly 9%.
CHINA YUNNAN TIN JAN-SEPT NET PROFIT SURGES
214.7%TO US$41 MLN
Asia Pulse Businesswire: 21 October 2010
[What follows is the full text of the news story.]
BEIJING, Oct
21Asia Pulse - The world's leading tin producer China Yunnan Tin Co., Ltd.
(SSZ:000960) saw a surge of 214.75 per cent in its net profit in the first
three quarters in 2010, thanks to the price hike of nonferrous metals, said the
company in its latest financial statement on Tuesday night.
The
Shenzhen-listed company registered a net profit of 276 million yuan (US$41.5
million) with 0.3522 yuan of earnings per share (EPS) in the January-September
period. The operating turnover in the corresponding period stood at 6.89
billion yuan, up 32 per cent year on year.
The company
attributed the growth to the price hike of nonferrous metals, which resulted in
its increasing revenue.
According to the
statement, Yunnan Tin Co., Ltd. produced 57,485 metric tons (tonnes) nonferrous
metals in the first three quarters of 2010 with 16.84 per cent year on year
decrease, accounting for 55.19 per cent of the planned annual output.
The output of tin
chemical products gained 55.19 per cent to 12,100 tonnes, exceeding the planned
annual output, while that of tin products went up 26.48 per cent to 13,069 tonnes,
taking up 81.68 per cent of the annual plan.
(XIC) cg
21-10 1152
Yunnan Tin (000960.SZ) Jan-Sept net profit surged
214.75 pct to RMB276 mln
Xinhua News Agency (CEIS) (China): 19 October 2010
[What follows is the full text of the news story.]
BEIJING, Oct. 20
(Xinhua) � The world's leading tin producer China Yunnan Tin Co., Ltd.
(000960.SZ) saw a surge of 214.75 percent in its net profit in the first three
quarters in 2010, thanks to the price hike of nonferrous metals, said the
company in its latest financial statement on Tuesday night.
The
Shenzhen-listed company registered a net profit of 276 million yuan with 0.3522
yuan of earnings per share (EPS) in the January-September period. The operating
turnover in the corresponding period stood at 6.89 billion yuan, up 32 percent
year on year.
The company
attributed the growth to the price hike of nonferrous metals, which resulted in
its increasing revenue.
According to the
statement, Yunnan Tin Co., Ltd. produced 57,485 metric tons (tonnes) nonferrous
metals in the first three quarters of 2010 with 16.84 percent year on year
decrease, accounting for 55.19 percent of the planned annual output.
The output of tin
chemical products gained 55.19 percent to 12,100 tonnes, exceeding the planned
annual output, while that of tin products went up 26.48 percent to 13,069
tonnes, taking up 81.68 percent of the annual plan.� (Edited by Wang Li,
wangle1@xinhua.org)
Xinhua News Agency (CEIS) (China): 19 October 2010
[What follows is the full text of the news story.]
�
BEIJING, Oct. 20
(Xinhua) �
�
1.Chinese
commodity prices plunged on the Shanghai Futures Exchanges Wednesday morning
after central bank's interest rate hike.
The most actively
traded contract of copper, for December delivery, plummeted 1,750 yuan to
61,800 yuan/t, while that of aluminum and zinc fell 330 yuan and 630 yuan to
16,055 yuan/t and 18,755 yuan/t, respectively.
China's central
bank, the People's Bank of China (PBOC), said on Tuesday night on its website
it will raise its benchmark one-year lending and deposit rate by 0.25
percentage points effective from Oct. 20.
The move is
expected to cool inflation and rein in the domestic home prices. �
�
2.China's domestic
output of recycling nonferrous metals in 2010 is likely to top 7.2 million
metric tons (tonnes), 1 million tonnes more than that year's annual output,
according to the latest statistics released by China Nonferrous Metals Industry
Association Recycling Metal Branch (CMRA).
CMRA analyzes that
the 2010 output grows on a robust market demand and price hike of the products.
A warming foreign trade of nonferrous metals scarp also contributed to the
output increase.
Output of major
recycling nonferrous metals is to double from the current level and reach 11.1
million tonnes by the end of 2015, based on the draft of the country's 12 th
five-year (2011-2015) plan for the industry, said Wang Gongmin, president of
CMRA.
�
3.Beijing Bulk
Commodity Exchange will start operation at end- October. The exchange is to
trade mainly ferrous metal such as steel at the initial stage and will expand
to the trade of non-ferrous metal, agricultural products and energy products in
the future.
�
4.Chalco Mineral
Resources recently inked a strategic agreement with China Nonferrous Metals
Resource Geological Survey (CNGS) to strengthen cooperation in geological
prospecting, mining development and engineering construction, said the
company's parent Chalco.
The partnership is
expected to facilitate Chalco's business expansion beyond base metals operation
into iron ore mining, including construction of industrial base for mineral
resources in China.
Chalco Mineral
Resource is a wholly owned subsidiary of the Aluminum Corp. of China, or Chalco
(601600.SH; ACH.NYSE; 2600.HK), which is the country's leading alumina and
primary aluminum producer.
�
5.Minmetals
Resources Ltd. (1208.HK) announced Tuesday it is to buy the Australia-based
mining company Minerals & Metals Group from its state-owned parent for 1.85
billion US���� dollars, as part of plans to transform into an
international upstream base metals producer.
Minmetals
Resources said it plans to give its controlling shareholder, China Minmetals
Non-Ferrous Metals Co., a combination of cash, shares and convertible
securities to acquire the Minerals & Metals Group (MMG).
�
6.Jiaozuo Wanfang
Aluminum Manufacturing Co. (Jiaozuo Wanfang, 000612.SZ) will cut back on
production of 140,000 metric tons (tonnes) aluminum, making up one third of the
company's total aluminum capacity, said the company in a statement on Tuesday.
The
Shenzhen-listed Jiaozuo Wanfang is a Henan-based unit of Chalco (601600.SH;
ACH.NYSE; 2600.HK) in central China, and the company is mainly engaged in the
production of electrolytic aluminum.
�
7.The world's
leading tin producer China Yunnan Tin Co. Ltd (000960.SZ) saw a surge of 214.75
percent in its net profit in the first three quarters in 2010 thanks to the
price hike of nonferrous metals, according to the company's latest financial
results.
The Shenzhen-listed
company registered a net profit of 276 million yuan with 0.3522 yuan of
earnings per share (EPS) in the January-September period. The operating
turnover in the corresponding period stood at 6.89 billion yuan, up 32 percent
year on year. (Edited by Wang Li, wangle1@xinhua.org)
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 |
31-Dec-2007 |
31-Dec-2006 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
|
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
|
Auditor |
ShineWing
Certified Public Accountants |
Xinyong Zhonghe
CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
|
Net Sales |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
Total Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
|
|
|
|
|
|
|
|
Cost of Revenue |
1,179.2 |
919.5 |
1,151.8 |
936.1 |
528.5 |
|
|
Excise Taxes Payments |
8.3 |
6.3 |
6.6 |
4.8 |
4.7 |
|
|
Cost of Revenue, Total |
1,187.6 |
925.8 |
1,158.4 |
940.9 |
533.3 |
|
|
Gross Profit |
181.5 |
121.7 |
160.1 |
171.4 |
94.2 |
|
|
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
85.8 |
65.6 |
67.7 |
57.5 |
47.9 |
|
|
Total Selling/General/Administrative Expenses |
85.8 |
65.6 |
67.7 |
57.5 |
47.9 |
|
|
Interest Expense -
Operating |
26.6 |
24.4 |
- |
22.2 |
- |
|
|
Interest Expense - Net Operating |
26.6 |
24.4 |
- |
22.2 |
- |
|
|
Interest Income -
Operating |
-1.2 |
-0.5 |
- |
-0.7 |
- |
|
|
Investment Income -
Operating |
0.6 |
0.3 |
-0.7 |
5.1 |
5.8 |
|
|
Interest/Investment Income - Operating |
-0.6 |
-0.3 |
-0.7 |
4.4 |
5.8 |
|
|
Interest Expense (Income) - Net Operating |
- |
- |
44.8 |
- |
12.8 |
|
|
Interest Expense (Income) - Net Operating Total |
26.0 |
24.2 |
44.1 |
26.6 |
18.5 |
|
|
Impairment-Assets Held for Use |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
|
Unusual Expense (Income) |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
|
Other Operating Expense |
6.4 |
2.8 |
- |
0.2 |
- |
|
|
Other Operating Expenses, Total |
6.4 |
2.8 |
- |
0.2 |
- |
|
|
Total Operating Expense |
1,314.3 |
1,027.3 |
1,320.4 |
1,029.6 |
600.5 |
|
|
|
|
|
|
|
|
|
|
Operating Income |
54.7 |
20.1 |
-1.9 |
82.7 |
27.1 |
|
|
|
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
-1.6 |
0.5 |
-0.6 |
-0.8 |
- |
|
|
Other Non-Operating Income (Expense) |
8.3 |
2.5 |
1.0 |
7.1 |
2.8 |
|
|
Other, Net |
8.3 |
2.5 |
1.0 |
7.1 |
2.8 |
|
|
Income Before Tax |
61.5 |
23.2 |
-1.5 |
89.0 |
29.8 |
|
|
|
|
|
|
|
|
|
|
Total Income Tax |
7.4 |
3.9 |
-4.6 |
10.7 |
5.1 |
|
|
Income After Tax |
54.0 |
19.2 |
3.1 |
78.3 |
24.7 |
|
|
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.5 |
0.3 |
0.2 |
1.2 |
|
|
Net Income Before Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
879.6 |
830.3 |
830.6 |
825.2 |
824.8 |
|
|
Basic EPS Excl Extraord Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
|
Basic/Primary EPS Incl Extraord Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
|
Dilution Adjustment |
- |
- |
0.0 |
- |
- |
|
|
Diluted Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
Diluted Weighted Average Shares |
879.6 |
830.3 |
830.6 |
838.7 |
824.8 |
|
|
Diluted EPS Excl Extraord Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
|
Diluted EPS Incl Extraord Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
|
Dividends per Share - Common Stock Primary Issue |
0.02 |
0.01 |
0.00 |
0.01 |
0.02 |
|
|
Gross Dividends - Common Stock |
14.6 |
9.5 |
1.9 |
7.1 |
13.5 |
|
|
Interest Expense, Supplemental |
31.9 |
26.3 |
38.0 |
22.2 |
- |
|
|
Interest Capitalized, Supplemental |
-6.2 |
- |
-2.7 |
- |
- |
|
|
Depreciation, Supplemental |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
|
Total Special Items |
10.2 |
8.4 |
50.7 |
5.2 |
0.8 |
|
|
Normalized Income Before Tax |
71.6 |
31.6 |
49.2 |
94.2 |
30.6 |
|
|
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.2 |
1.4 |
17.8 |
0.6 |
0.1 |
|
|
Inc Tax Ex Impact of Sp Items |
8.7 |
5.4 |
13.1 |
11.3 |
5.3 |
|
|
Normalized Income After Tax |
62.9 |
26.2 |
36.1 |
82.8 |
25.4 |
|
|
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
63.1 |
26.8 |
36.4 |
83.0 |
26.5 |
|
|
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
|
Diluted Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
|
Amort of Intangibles, Supplemental |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
|
|
Rental Expenses |
2.4 |
2.4 |
2.2 |
- |
- |
|
|
Advertising Expense, Supplemental |
0.2 |
0.2 |
0.2 |
- |
- |
|
|
Normalized EBIT |
89.4 |
53.3 |
92.3 |
113.7 |
46.3 |
|
|
Normalized EBITDA |
117.4 |
77.4 |
115.6 |
128.2 |
58.7 |
|
|
Current Tax - Domestic |
8.5 |
1.3 |
- |
14.0 |
- |
|
|
Current Tax - Total |
8.5 |
1.3 |
- |
14.0 |
- |
|
|
Deferred Tax - Domestic |
-1.1 |
2.7 |
- |
1.0 |
- |
|
|
Deferred Tax - Total |
-1.1 |
2.7 |
- |
1.0 |
- |
|
|
Domestic Tax - Other |
- |
- |
- |
-4.2 |
- |
|
|
Income Tax - Total |
7.4 |
3.9 |
- |
10.7 |
- |
|
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
7.8051 |
|
Auditor |
ShineWing
Certified Public Accountants |
Xinyong Zhonghe
CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Cash and Short Term Investments |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Accounts Receivable -
Trade, Gross |
55.0 |
46.4 |
47.3 |
60.6 |
39.4 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.2 |
-0.8 |
-0.8 |
-0.8 |
|
Trade Accounts Receivable - Net |
54.5 |
46.2 |
46.4 |
59.9 |
38.7 |
|
Notes Receivable - Short Term |
57.9 |
57.0 |
16.1 |
98.2 |
10.0 |
|
Other Receivables |
8.3 |
5.9 |
10.9 |
7.0 |
4.5 |
|
Total Receivables, Net |
120.6 |
109.1 |
73.4 |
165.1 |
53.2 |
|
Inventories - Finished Goods |
189.5 |
147.5 |
193.8 |
136.6 |
55.9 |
|
Inventories - Work In Progress |
87.3 |
48.2 |
41.8 |
54.5 |
25.9 |
|
Inventories - Raw Materials |
227.4 |
62.4 |
68.5 |
77.9 |
37.7 |
|
Inventories - Other |
5.3 |
2.0 |
2.2 |
0.6 |
3.3 |
|
Total Inventory |
509.6 |
260.1 |
306.5 |
269.6 |
122.8 |
|
Prepaid Expenses |
106.9 |
28.7 |
34.3 |
38.1 |
6.9 |
|
Other Current Assets |
0.1 |
0.0 |
- |
- |
- |
|
Other Current Assets, Total |
0.1 |
0.0 |
- |
- |
- |
|
Total Current Assets |
853.1 |
437.2 |
463.8 |
540.9 |
230.3 |
|
|
|
|
|
|
|
|
Buildings |
460.7 |
402.2 |
318.8 |
269.0 |
217.4 |
|
Machinery/Equipment |
218.8 |
199.3 |
165.9 |
137.5 |
119.2 |
|
Construction in
Progress |
273.3 |
103.4 |
95.5 |
30.8 |
5.6 |
|
Property/Plant/Equipment - Gross |
952.8 |
704.9 |
580.2 |
437.3 |
342.2 |
|
Accumulated Depreciation |
-165.6 |
-136.2 |
-117.7 |
-101.5 |
-82.3 |
|
Property/Plant/Equipment - Net |
787.2 |
568.7 |
462.5 |
335.8 |
260.0 |
|
Intangibles, Net |
66.9 |
68.2 |
69.8 |
68.8 |
58.6 |
|
LT Investment - Affiliate Companies |
- |
- |
- |
0.8 |
- |
|
Long Term Investments |
- |
- |
- |
0.8 |
- |
|
Deferred Charges |
2.0 |
2.2 |
0.0 |
- |
0.5 |
|
Deferred Income Tax - Long Term Asset |
10.3 |
7.8 |
11.0 |
2.3 |
1.6 |
|
Other Long Term Assets, Total |
12.3 |
10.0 |
11.1 |
2.3 |
2.1 |
|
Total Assets |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
60.8 |
42.1 |
45.9 |
31.2 |
25.5 |
|
Accrued Expenses |
32.0 |
19.2 |
20.3 |
20.1 |
8.3 |
|
Notes Payable/Short Term Debt |
613.9 |
306.9 |
396.1 |
395.1 |
245.6 |
|
Current Portion - Long Term Debt/Capital Leases |
88.0 |
64.4 |
24.9 |
- |
23.1 |
|
Customer Advances |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Income Taxes Payable |
-35.7 |
-24.3 |
-2.5 |
2.1 |
9.4 |
|
Other Current Liabilities |
1.6 |
0.1 |
0.1 |
0.0 |
- |
|
Other Current liabilities, Total |
-13.3 |
-10.1 |
5.2 |
7.9 |
12.4 |
|
Total Current Liabilities |
781.4 |
422.6 |
492.5 |
454.3 |
314.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
Total Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
Total Debt |
928.5 |
651.0 |
574.3 |
565.8 |
273.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Deferred Income Tax |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Minority Interest |
-0.1 |
0.0 |
0.7 |
1.0 |
1.0 |
|
Other Long Term Liabilities |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Other Liabilities, Total |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Total Liabilities |
1,015.7 |
707.9 |
649.0 |
629.2 |
322.2 |
|
|
|
|
|
|
|
|
Common Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Common Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Additional Paid-In Capital |
344.1 |
98.2 |
98.2 |
81.6 |
68.9 |
|
Retained Earnings (Accumulated Deficit) |
236.0 |
183.6 |
165.7 |
164.5 |
91.2 |
|
Translation Adjustment |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Other Equity, Total |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Total Equity |
703.8 |
376.3 |
358.3 |
319.5 |
228.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Total Common Shares Outstanding |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Employees |
15,297 |
- |
15,027 |
13,958 |
13,834 |
|
Number of Common Shareholders |
107,282 |
- |
89,714 |
41,523 |
40,789 |
|
Accumulated Intangible Amort, Suppl. |
11.4 |
7.4 |
4.6 |
- |
- |
|
Deferred Revenue - Current |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing
Certified Public Accountants |
Xinyong Zhonghe
CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
1,346.4 |
999.4 |
1,333.8 |
993.9 |
569.1 |
|
Cash Payments |
-1,226.5 |
-829.7 |
-1,083.2 |
-1,069.4 |
-545.3 |
|
Cash Taxes Paid |
-73.0 |
-84.4 |
-71.3 |
-49.7 |
-28.8 |
|
Other Operating Cash Flow |
-25.6 |
-19.0 |
-34.1 |
-21.3 |
-13.1 |
|
Changes in Working Capital |
-25.6 |
-19.0 |
-34.1 |
-21.3 |
-13.1 |
|
Cash from Operating Activities |
21.3 |
66.4 |
145.1 |
-146.6 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Capital Expenditures |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Sale of Business |
- |
- |
-10.9 |
- |
- |
|
Sale of Fixed Assets |
0.3 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Sale/Maturity of Investment |
- |
- |
- |
- |
0.5 |
|
Purchase of Investments |
- |
- |
- |
-14.2 |
-4.1 |
|
Other Investing Cash Flow |
- |
2.3 |
0.6 |
-0.3 |
-5.1 |
|
Other Investing Cash Flow Items, Total |
0.3 |
2.4 |
-10.1 |
-14.4 |
-8.6 |
|
Cash from Investing Activities |
-216.5 |
-94.0 |
-135.6 |
-82.8 |
-54.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
153.6 |
-28.8 |
-37.3 |
-31.6 |
-28.2 |
|
Financing Cash Flow Items |
153.6 |
-28.8 |
-37.3 |
-31.6 |
-28.2 |
|
Total Debt Issued |
779.7 |
644.2 |
481.1 |
581.3 |
259.8 |
|
Total Debt Reduction |
-664.3 |
-598.1 |
-475.7 |
-303.3 |
-145.6 |
|
Issuance (Retirement) of Debt, Net |
115.4 |
46.2 |
5.4 |
278.1 |
114.2 |
|
Cash from Financing Activities |
269.1 |
17.3 |
-31.9 |
246.5 |
86.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
0.0 |
-0.5 |
-0.2 |
-0.2 |
|
Net Change in Cash |
73.3 |
-10.3 |
-22.9 |
16.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.6 |
49.6 |
71.6 |
48.6 |
33.2 |
|
Net Cash - Ending Balance |
112.9 |
39.3 |
48.7 |
65.4 |
46.4 |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing
Certified Public Accountants |
ShineWing
Certified Public Accountants |
Xinyong Zhonghe
CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales from Principal Activities |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
Total Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
|
|
|
|
|
|
Cost of Sales from Principal Activities |
1,179.2 |
919.5 |
1,151.8 |
936.1 |
528.5 |
|
Business Tax & Surcharges |
8.3 |
6.3 |
6.6 |
4.8 |
4.7 |
|
Selling Expense |
20.0 |
17.7 |
17.9 |
14.3 |
9.6 |
|
General & Administrative Expenses |
65.7 |
48.0 |
49.8 |
43.2 |
38.3 |
|
Finance Expenses |
- |
- |
44.8 |
- |
12.8 |
|
Interest Expense |
26.6 |
24.4 |
- |
20.7 |
- |
|
Interests Income |
-1.2 |
-0.5 |
- |
-0.7 |
- |
|
Foreign Exchange Gain/Loss |
-0.8 |
-0.1 |
- |
5.3 |
- |
|
Cash Discount |
- |
- |
- |
1.5 |
- |
|
Commission Fee |
- |
- |
- |
0.2 |
- |
|
Other Finance Expense |
6.4 |
2.8 |
- |
0.0 |
- |
|
Loss on Impairment of Fixed Assets |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
Gain/Loss from Change in Fair Value |
0.2 |
- |
- |
- |
0.2 |
|
Investment Income |
1.2 |
0.4 |
-0.7 |
-0.2 |
5.6 |
|
Total Operating Expense |
1,314.3 |
1,027.3 |
1,320.4 |
1,029.6 |
600.5 |
|
|
|
|
|
|
|
|
Gain from Sale of Assets |
0.1 |
0.8 |
0.3 |
0.0 |
- |
|
Non - Operating Income |
8.5 |
3.7 |
2.0 |
7.6 |
4.4 |
|
Non - Operating Expense |
-0.2 |
-1.2 |
-1.1 |
-0.5 |
-1.6 |
|
Loss from Sale of Assets |
-1.7 |
-0.3 |
-0.9 |
-0.8 |
- |
|
Net Income Before Taxes |
61.5 |
23.2 |
-1.5 |
89.0 |
29.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
7.4 |
3.9 |
-4.6 |
10.7 |
5.1 |
|
Net Income After Taxes |
54.0 |
19.2 |
3.1 |
78.3 |
24.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.5 |
0.3 |
0.2 |
1.2 |
|
Net Income Before Extra. Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
879.6 |
830.3 |
830.6 |
825.2 |
824.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Basic EPS Including ExtraOrdinary Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Dilution Adjustment |
- |
- |
0.0 |
- |
- |
|
Diluted Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Diluted Weighted Average Shares |
879.6 |
830.3 |
830.6 |
838.7 |
824.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
DPS-A Share |
0.02 |
0.01 |
0.00 |
0.01 |
0.02 |
|
Gross Dividends - Common Stock |
14.6 |
9.5 |
1.9 |
7.1 |
13.5 |
|
Normalized Income Before Taxes |
71.6 |
31.6 |
49.2 |
94.2 |
30.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
8.7 |
5.4 |
13.1 |
11.3 |
5.3 |
|
Normalized Income After Taxes |
62.9 |
26.2 |
36.1 |
82.8 |
25.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
63.1 |
26.8 |
36.4 |
83.0 |
26.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Diluted Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Interest Expense |
26.6 |
24.4 |
33.1 |
20.7 |
- |
|
Cash Discount |
5.2 |
1.8 |
4.9 |
1.5 |
- |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
Amort of Intangibles |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
|
Interest Capitalized |
-6.2 |
- |
-2.7 |
- |
- |
|
Advertising Expesnes |
0.2 |
0.2 |
0.2 |
- |
- |
|
Rental Expesnes |
2.4 |
2.4 |
2.2 |
- |
- |
|
Current Tax |
8.5 |
1.3 |
- |
14.0 |
- |
|
Current Tax - Total |
8.5 |
1.3 |
- |
14.0 |
- |
|
Deferred Tax |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Deferred Tax - Total |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Other Tax |
- |
- |
- |
-4.2 |
- |
|
Income Tax - Total |
7.4 |
3.9 |
- |
10.7 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
7.8051 |
|
Auditor |
ShineWing Certified
Public Accountants |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Notes Receivable |
57.9 |
57.0 |
16.1 |
98.2 |
10.0 |
|
Accounts Receivable |
55.0 |
46.4 |
47.3 |
60.6 |
39.4 |
|
Provision for Doubtful Accounts |
-0.5 |
-0.2 |
-0.8 |
-0.8 |
-0.8 |
|
Other Receivables |
8.3 |
5.9 |
10.9 |
7.0 |
4.5 |
|
Payment in Advance |
106.9 |
28.7 |
34.3 |
38.1 |
6.9 |
|
Raw Materials |
227.4 |
62.4 |
68.5 |
77.9 |
37.7 |
|
Work-in-Progress |
87.3 |
48.2 |
41.8 |
54.5 |
25.9 |
|
Finished Goods in Store |
189.5 |
147.5 |
193.8 |
136.6 |
55.9 |
|
Circulating Material |
5.3 |
2.0 |
2.2 |
2.1 |
3.4 |
|
Provision for Inventory
Obsolescence |
- |
- |
- |
-1.5 |
-0.1 |
|
Other Current Assets |
0.1 |
0.0 |
- |
- |
- |
|
Total Current Assets |
853.1 |
437.2 |
463.8 |
540.9 |
230.3 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
- |
- |
- |
0.8 |
- |
|
Buildings & Structures |
460.7 |
402.2 |
318.8 |
269.0 |
217.4 |
|
Machinery & Equipment |
181.2 |
165.4 |
37.6 |
37.6 |
35.7 |
|
Energy Equipment |
- |
- |
29.2 |
22.2 |
18.7 |
|
Transportation Equipment |
11.5 |
9.7 |
9.1 |
7.7 |
6.6 |
|
Specialized Chemical Process
Equipment |
- |
- |
25.5 |
21.6 |
19.9 |
|
Mining Equipment |
- |
- |
43.5 |
34.6 |
26.9 |
|
Other Equipment |
26.0 |
24.2 |
21.0 |
13.7 |
11.4 |
|
Accumulated Depreciation |
-159.1 |
-133.9 |
-114.3 |
-95.2 |
-79.4 |
|
Provision for Fixed Assets
Impairment |
-6.5 |
-2.3 |
-3.4 |
-6.3 |
-2.8 |
|
Construction Materials |
- |
11.9 |
0.8 |
- |
- |
|
Construction in Progress |
273.3 |
91.5 |
94.7 |
30.8 |
5.6 |
|
Intangible Asset |
66.9 |
68.2 |
69.8 |
68.8 |
58.6 |
|
Deferred Income Tax Assets -
Current |
10.3 |
7.8 |
11.0 |
2.3 |
1.6 |
|
Long Term Prepaid Expense |
2.0 |
2.2 |
0.0 |
- |
0.5 |
|
Total Assets |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
613.7 |
306.9 |
396.1 |
395.1 |
242.9 |
|
Financial Liabilities for Trading |
0.2 |
- |
- |
- |
0.2 |
|
Notes Payable |
- |
- |
- |
- |
2.6 |
|
Accounts Payable |
60.8 |
42.1 |
45.9 |
31.2 |
25.5 |
|
Customer Advance |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Accrued Payroll |
19.4 |
12.0 |
13.9 |
8.7 |
4.5 |
|
Tax Payable |
-35.7 |
-24.3 |
-2.5 |
2.1 |
9.4 |
|
Interest Payable |
1.4 |
2.2 |
2.3 |
1.9 |
0.4 |
|
Other Creditors |
11.2 |
5.0 |
4.1 |
9.5 |
3.3 |
|
Current Portion of LT Debt |
88.0 |
64.4 |
24.9 |
- |
23.1 |
|
Other Current Liabilities |
1.6 |
0.1 |
0.1 |
0.0 |
- |
|
Total Current Liabilities |
781.4 |
422.6 |
492.5 |
454.3 |
314.9 |
|
|
|
|
|
|
|
|
Long Term Borrowings |
226.6 |
213.6 |
87.9 |
92.4 |
5.2 |
|
Debentures Payable |
- |
66.1 |
65.3 |
78.3 |
- |
|
Total Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
|
|
|
|
|
|
|
Long Term Payables |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax Liabilities |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Other Long Term Liabilities |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Minority Interests |
-0.1 |
0.0 |
0.7 |
1.0 |
1.0 |
|
Total Liabilities |
1,015.7 |
707.9 |
649.0 |
629.2 |
322.2 |
|
|
|
|
|
|
|
|
Capital Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Paid in Capital |
344.1 |
98.2 |
98.2 |
81.6 |
68.9 |
|
Surplus Reserve |
52.0 |
41.9 |
38.4 |
41.4 |
28.5 |
|
Undistributed Profit |
184.0 |
141.7 |
127.3 |
123.0 |
62.7 |
|
Translation Adjustment |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Total Equity |
703.8 |
376.3 |
358.3 |
319.5 |
228.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
S/O-A Share |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Total Common Shares Outstanding |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Customer Advance |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Accumulated Amort. of Intangibles |
11.4 |
7.4 |
4.6 |
- |
- |
|
Full-Time Employees |
15,297 |
- |
15,027 |
13,958 |
13,834 |
|
Number of Common Shareholders |
107,282 |
- |
89,714 |
41,523 |
40,789 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing Certified
Public Accountants |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Received from Sale of Goods
& Svcs |
1,346.4 |
999.4 |
1,333.8 |
993.9 |
569.1 |
|
Cash Paid for Goods & Services |
-1,226.5 |
-829.7 |
-1,083.2 |
-1,069.4 |
-545.3 |
|
Tax Refund Received |
6.0 |
2.6 |
3.5 |
8.7 |
4.0 |
|
Other Cash Received from Operating
Actvt |
9.1 |
9.2 |
9.2 |
6.7 |
11.6 |
|
Cash Taxes Paid |
-78.9 |
-87.0 |
-74.9 |
-58.4 |
-32.9 |
|
Other Cash Paid for Operating
Activities |
-34.7 |
-28.2 |
-43.2 |
-28.0 |
-24.8 |
|
Cash from Operating Activities |
21.3 |
66.4 |
145.1 |
-146.6 |
-18.2 |
|
|
|
|
|
|
|
|
Sale/Maturity/Disposal of
Investments |
- |
- |
- |
- |
0.5 |
|
Cash from Return on Investments |
- |
0.1 |
0.6 |
- |
0.0 |
|
Sale of Fixed, Intangible &
Other LTA |
0.3 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Cash from Disposal of Subsidiaries |
- |
- |
-10.9 |
- |
- |
|
Other Cash Received from Investing
Actvt |
- |
2.2 |
0.0 |
0.5 |
1.0 |
|
Acquire Fixed, Intangible &
Other LTA |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Cash Paid for Investments |
- |
- |
- |
-14.2 |
-4.1 |
|
Other Cash Paid for Investing
Activities |
- |
- |
- |
-0.8 |
-6.1 |
|
Cash from Investing Activities |
-216.5 |
-94.0 |
-135.6 |
-82.8 |
-54.4 |
|
|
|
|
|
|
|
|
Cash from Investor |
195.9 |
- |
- |
0.1 |
0.0 |
|
Cash from Borrowings |
779.7 |
644.2 |
481.1 |
581.3 |
259.8 |
|
Other Cash Received from Financing
Actvt |
- |
- |
- |
- |
0.0 |
|
Repayment of Borrowings |
-664.3 |
-598.1 |
-475.7 |
-303.3 |
-145.6 |
|
Cash Paid for Dividends and
Interests |
-41.4 |
-27.9 |
-37.1 |
-31.3 |
-27.7 |
|
Other Cash Paid for Financing
Activities |
-0.8 |
-0.9 |
-0.2 |
-0.4 |
-0.5 |
|
Cash from Financing Activities |
269.1 |
17.3 |
-31.9 |
246.5 |
86.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
0.0 |
-0.5 |
-0.2 |
-0.2 |
|
Net Change in Cash |
73.3 |
-10.3 |
-22.9 |
16.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.6 |
49.6 |
71.6 |
48.6 |
33.2 |
|
Net Cash - Ending Balance |
112.9 |
39.3 |
48.7 |
65.4 |
46.4 |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
Amortization of Intangibles |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
Financial Health
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
Total Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,179.2 |
919.5 |
1,151.8 |
936.1 |
528.5 |
|
Excise Taxes Payments |
8.3 |
6.3 |
6.6 |
4.8 |
4.7 |
|
Cost of Revenue, Total |
1,187.6 |
925.8 |
1,158.4 |
940.9 |
533.3 |
|
Gross Profit |
181.5 |
121.7 |
160.1 |
171.4 |
94.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
85.8 |
65.6 |
67.7 |
57.5 |
47.9 |
|
Total Selling/General/Administrative Expenses |
85.8 |
65.6 |
67.7 |
57.5 |
47.9 |
|
Interest
Expense - Operating |
26.6 |
24.4 |
- |
22.2 |
- |
|
Interest Expense - Net Operating |
26.6 |
24.4 |
- |
22.2 |
- |
|
Interest
Income - Operating |
-1.2 |
-0.5 |
- |
-0.7 |
- |
|
Investment
Income - Operating |
0.6 |
0.3 |
-0.7 |
5.1 |
5.8 |
|
Interest/Investment Income -
Operating |
-0.6 |
-0.3 |
-0.7 |
4.4 |
5.8 |
|
Interest Expense (Income) - Net
Operating |
- |
- |
44.8 |
- |
12.8 |
|
Interest Expense (Income) - Net Operating Total |
26.0 |
24.2 |
44.1 |
26.6 |
18.5 |
|
Impairment-Assets Held for Use |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
Unusual Expense (Income) |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
Other Operating Expense |
6.4 |
2.8 |
- |
0.2 |
- |
|
Other Operating Expenses, Total |
6.4 |
2.8 |
- |
0.2 |
- |
|
Total Operating Expense |
1,314.3 |
1,027.3 |
1,320.4 |
1,029.6 |
600.5 |
|
|
|
|
|
|
|
|
Operating Income |
54.7 |
20.1 |
-1.9 |
82.7 |
27.1 |
|
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
-1.6 |
0.5 |
-0.6 |
-0.8 |
- |
|
Other Non-Operating Income
(Expense) |
8.3 |
2.5 |
1.0 |
7.1 |
2.8 |
|
Other, Net |
8.3 |
2.5 |
1.0 |
7.1 |
2.8 |
|
Income Before Tax |
61.5 |
23.2 |
-1.5 |
89.0 |
29.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
7.4 |
3.9 |
-4.6 |
10.7 |
5.1 |
|
Income After Tax |
54.0 |
19.2 |
3.1 |
78.3 |
24.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.5 |
0.3 |
0.2 |
1.2 |
|
Net Income Before Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
879.6 |
830.3 |
830.6 |
825.2 |
824.8 |
|
Basic EPS Excl Extraord Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Dilution Adjustment |
- |
- |
0.0 |
- |
- |
|
Diluted Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Diluted Weighted Average Shares |
879.6 |
830.3 |
830.6 |
838.7 |
824.8 |
|
Diluted EPS Excl Extraord Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
Diluted EPS Incl Extraord Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.02 |
0.01 |
0.00 |
0.01 |
0.02 |
|
Gross Dividends - Common Stock |
14.6 |
9.5 |
1.9 |
7.1 |
13.5 |
|
Interest Expense, Supplemental |
31.9 |
26.3 |
38.0 |
22.2 |
- |
|
Interest Capitalized, Supplemental |
-6.2 |
- |
-2.7 |
- |
- |
|
Depreciation, Supplemental |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
Total Special Items |
10.2 |
8.4 |
50.7 |
5.2 |
0.8 |
|
Normalized Income Before Tax |
71.6 |
31.6 |
49.2 |
94.2 |
30.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.2 |
1.4 |
17.8 |
0.6 |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
8.7 |
5.4 |
13.1 |
11.3 |
5.3 |
|
Normalized Income After Tax |
62.9 |
26.2 |
36.1 |
82.8 |
25.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
63.1 |
26.8 |
36.4 |
83.0 |
26.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Diluted Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Amort of Intangibles, Supplemental |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
|
Rental Expenses |
2.4 |
2.4 |
2.2 |
- |
- |
|
Advertising Expense, Supplemental |
0.2 |
0.2 |
0.2 |
- |
- |
|
Normalized EBIT |
89.4 |
53.3 |
92.3 |
113.7 |
46.3 |
|
Normalized EBITDA |
117.4 |
77.4 |
115.6 |
128.2 |
58.7 |
|
Current Tax - Domestic |
8.5 |
1.3 |
- |
14.0 |
- |
|
Current Tax - Total |
8.5 |
1.3 |
- |
14.0 |
- |
|
Deferred Tax - Domestic |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Deferred Tax - Total |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Domestic Tax - Other |
- |
- |
- |
-4.2 |
- |
|
Income Tax - Total |
7.4 |
3.9 |
- |
10.7 |
- |
Interim Income Statement
Standardized
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
9 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Special |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.583076 |
6.749901 |
6.770018 |
6.824215 |
6.827505 |
|
|
|
|
|
|
|
|
Net Sales |
485.4 |
1,071.5 |
348.9 |
366.0 |
298.0 |
|
Revenue |
485.4 |
1,071.5 |
348.9 |
366.0 |
298.0 |
|
Total Revenue |
485.4 |
1,071.5 |
348.9 |
366.0 |
298.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
397.9 |
921.5 |
296.4 |
318.0 |
258.1 |
|
Excise Taxes Payments |
3.5 |
6.7 |
2.4 |
1.1 |
1.6 |
|
Cost of Revenue, Total |
401.5 |
928.2 |
298.8 |
319.1 |
259.7 |
|
Gross Profit |
84.0 |
143.3 |
50.1 |
46.9 |
38.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
29.1 |
66.6 |
20.7 |
17.8 |
19.2 |
|
Total Selling/General/Administrative Expenses |
29.1 |
66.6 |
20.7 |
17.8 |
19.2 |
|
Investment
Income - Operating |
1.0 |
1.2 |
0.3 |
0.3 |
0.2 |
|
Interest/Investment Income -
Operating |
1.0 |
1.2 |
0.3 |
0.3 |
0.2 |
|
Interest Expense (Income) - Net
Operating |
16.5 |
23.9 |
13.5 |
9.9 |
7.1 |
|
Interest Expense (Income) - Net Operating Total |
17.5 |
25.1 |
13.8 |
10.2 |
7.3 |
|
Impairment-Assets Held for Use |
0.0 |
8.5 |
0.0 |
0.1 |
0.1 |
|
Unusual Expense (Income) |
0.0 |
8.5 |
0.0 |
0.1 |
0.1 |
|
Total Operating Expense |
448.0 |
1,028.4 |
333.3 |
347.2 |
286.3 |
|
|
|
|
|
|
|
|
Operating Income |
37.4 |
43.1 |
15.6 |
18.8 |
11.7 |
|
|
|
|
|
|
|
|
Other Non-Operating Income
(Expense) |
0.2 |
5.6 |
1.1 |
1.1 |
1.1 |
|
Other, Net |
0.2 |
5.6 |
1.1 |
1.1 |
1.1 |
|
Income Before Tax |
37.6 |
48.7 |
16.7 |
19.9 |
12.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
9.5 |
5.1 |
3.1 |
3.4 |
2.4 |
|
Income After Tax |
28.1 |
43.6 |
13.6 |
16.4 |
10.4 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.1 |
0.0 |
0.1 |
|
Net Income Before Extraord Items |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
Net Income |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
906.5 |
877.2 |
863.7 |
826.6 |
881.9 |
|
Basic EPS Excl Extraord Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Diluted Net Income |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
Diluted Weighted Average Shares |
906.5 |
877.2 |
863.7 |
826.6 |
881.9 |
|
Diluted EPS Excl Extraord Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
14.7 |
0.0 |
0.0 |
0.0 |
|
Total Special Items |
0.0 |
8.5 |
0.0 |
0.1 |
0.1 |
|
Normalized Income Before Tax |
37.6 |
57.2 |
16.7 |
20.0 |
12.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.9 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
9.5 |
6.0 |
3.1 |
3.4 |
2.4 |
|
Normalized Income After Tax |
28.1 |
51.2 |
13.6 |
16.5 |
10.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
28.1 |
51.3 |
13.7 |
16.5 |
10.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.06 |
0.02 |
0.02 |
0.01 |
|
Diluted Normalized EPS |
0.03 |
0.06 |
0.02 |
0.02 |
0.01 |
|
Normalized EBIT |
54.9 |
76.7 |
29.4 |
29.1 |
19.1 |
|
Normalized EBITDA |
54.9 |
76.7 |
29.4 |
29.1 |
19.1 |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
7.8051 |
|
Auditor |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Cash and Short Term Investments |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Accounts
Receivable - Trade, Gross |
55.0 |
46.4 |
47.3 |
60.6 |
39.4 |
|
Provision
for Doubtful Accounts |
-0.5 |
-0.2 |
-0.8 |
-0.8 |
-0.8 |
|
Trade Accounts Receivable - Net |
54.5 |
46.2 |
46.4 |
59.9 |
38.7 |
|
Notes Receivable - Short Term |
57.9 |
57.0 |
16.1 |
98.2 |
10.0 |
|
Other Receivables |
8.3 |
5.9 |
10.9 |
7.0 |
4.5 |
|
Total Receivables, Net |
120.6 |
109.1 |
73.4 |
165.1 |
53.2 |
|
Inventories - Finished Goods |
189.5 |
147.5 |
193.8 |
136.6 |
55.9 |
|
Inventories - Work In Progress |
87.3 |
48.2 |
41.8 |
54.5 |
25.9 |
|
Inventories - Raw Materials |
227.4 |
62.4 |
68.5 |
77.9 |
37.7 |
|
Inventories - Other |
5.3 |
2.0 |
2.2 |
0.6 |
3.3 |
|
Total Inventory |
509.6 |
260.1 |
306.5 |
269.6 |
122.8 |
|
Prepaid Expenses |
106.9 |
28.7 |
34.3 |
38.1 |
6.9 |
|
Other Current Assets |
0.1 |
0.0 |
- |
- |
- |
|
Other Current Assets, Total |
0.1 |
0.0 |
- |
- |
- |
|
Total Current Assets |
853.1 |
437.2 |
463.8 |
540.9 |
230.3 |
|
|
|
|
|
|
|
|
Buildings |
460.7 |
402.2 |
318.8 |
269.0 |
217.4 |
|
Machinery/Equipment |
218.8 |
199.3 |
165.9 |
137.5 |
119.2 |
|
Construction
in Progress |
273.3 |
103.4 |
95.5 |
30.8 |
5.6 |
|
Property/Plant/Equipment - Gross |
952.8 |
704.9 |
580.2 |
437.3 |
342.2 |
|
Accumulated Depreciation |
-165.6 |
-136.2 |
-117.7 |
-101.5 |
-82.3 |
|
Property/Plant/Equipment - Net |
787.2 |
568.7 |
462.5 |
335.8 |
260.0 |
|
Intangibles, Net |
66.9 |
68.2 |
69.8 |
68.8 |
58.6 |
|
LT Investment - Affiliate
Companies |
- |
- |
- |
0.8 |
- |
|
Long Term Investments |
- |
- |
- |
0.8 |
- |
|
Deferred Charges |
2.0 |
2.2 |
0.0 |
- |
0.5 |
|
Deferred Income Tax - Long Term
Asset |
10.3 |
7.8 |
11.0 |
2.3 |
1.6 |
|
Other Long Term Assets, Total |
12.3 |
10.0 |
11.1 |
2.3 |
2.1 |
|
Total Assets |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
60.8 |
42.1 |
45.9 |
31.2 |
25.5 |
|
Accrued Expenses |
32.0 |
19.2 |
20.3 |
20.1 |
8.3 |
|
Notes Payable/Short Term Debt |
613.9 |
306.9 |
396.1 |
395.1 |
245.6 |
|
Current Portion - Long Term Debt/Capital Leases |
88.0 |
64.4 |
24.9 |
- |
23.1 |
|
Customer Advances |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Income Taxes Payable |
-35.7 |
-24.3 |
-2.5 |
2.1 |
9.4 |
|
Other Current Liabilities |
1.6 |
0.1 |
0.1 |
0.0 |
- |
|
Other Current liabilities, Total |
-13.3 |
-10.1 |
5.2 |
7.9 |
12.4 |
|
Total Current Liabilities |
781.4 |
422.6 |
492.5 |
454.3 |
314.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
Total Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
Total Debt |
928.5 |
651.0 |
574.3 |
565.8 |
273.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Deferred Income Tax |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Minority Interest |
-0.1 |
0.0 |
0.7 |
1.0 |
1.0 |
|
Other Long Term Liabilities |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Other Liabilities, Total |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Total Liabilities |
1,015.7 |
707.9 |
649.0 |
629.2 |
322.2 |
|
|
|
|
|
|
|
|
Common Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Common Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Additional Paid-In Capital |
344.1 |
98.2 |
98.2 |
81.6 |
68.9 |
|
Retained Earnings (Accumulated Deficit) |
236.0 |
183.6 |
165.7 |
164.5 |
91.2 |
|
Translation Adjustment |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Other Equity, Total |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Total Equity |
703.8 |
376.3 |
358.3 |
319.5 |
228.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Total Common Shares Outstanding |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Employees |
15,297 |
- |
15,027 |
13,958 |
13,834 |
|
Number of Common Shareholders |
107,282 |
- |
89,714 |
41,523 |
40,789 |
|
Accumulated Intangible Amort, Suppl. |
11.4 |
7.4 |
4.6 |
- |
- |
|
Deferred Revenue - Current |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5485 |
6.5897 |
6.6912 |
6.7814 |
6.8259 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
168.3 |
116.0 |
83.6 |
78.7 |
118.2 |
|
Cash and Short Term Investments |
168.3 |
116.0 |
83.6 |
78.7 |
118.2 |
|
Trade Accounts Receivable - Net |
102.7 |
54.5 |
115.2 |
67.5 |
75.3 |
|
Notes Receivable - Short Term |
98.9 |
57.9 |
55.4 |
94.4 |
69.1 |
|
Other Receivables |
19.1 |
8.3 |
12.5 |
8.3 |
5.5 |
|
Total Receivables, Net |
220.7 |
120.6 |
183.2 |
170.1 |
149.9 |
|
Total Inventory |
502.1 |
509.6 |
410.7 |
351.2 |
286.7 |
|
Prepaid Expenses |
167.9 |
106.9 |
128.7 |
135.3 |
98.9 |
|
Other Current Assets |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets, Total |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
1,059.1 |
853.1 |
806.2 |
735.3 |
653.7 |
|
|
|
|
|
|
|
|
Construction
in Progress |
138.5 |
273.3 |
235.6 |
186.4 |
143.4 |
|
Other
Property/Plant/Equipment |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Property/Plant/Equipment - Gross |
138.5 |
273.3 |
235.6 |
186.5 |
143.4 |
|
Property/Plant/Equipment - Net |
826.2 |
787.2 |
695.0 |
645.2 |
603.9 |
|
Intangibles, Net |
66.5 |
66.9 |
67.8 |
67.6 |
67.7 |
|
Deferred Charges |
2.0 |
2.0 |
2.1 |
2.1 |
2.2 |
|
Deferred Income Tax - Long Term
Asset |
10.3 |
10.3 |
7.8 |
7.9 |
7.8 |
|
Other Long Term Assets, Total |
12.3 |
12.3 |
9.8 |
9.9 |
10.0 |
|
Total Assets |
1,964.1 |
1,719.5 |
1,578.9 |
1,458.0 |
1,335.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
95.1 |
60.8 |
79.5 |
63.4 |
59.6 |
|
Accrued Expenses |
41.0 |
32.0 |
21.5 |
20.7 |
20.5 |
|
Notes Payable/Short Term Debt |
754.9 |
613.9 |
465.5 |
447.3 |
354.8 |
|
Current Portion - Long Term Debt/Capital Leases |
120.6 |
88.0 |
67.3 |
29.5 |
36.6 |
|
Customer Advances |
8.4 |
20.8 |
16.7 |
11.0 |
15.1 |
|
Income Taxes Payable |
-4.3 |
-35.7 |
11.9 |
-1.7 |
-4.8 |
|
Other Current Liabilities |
3.8 |
1.6 |
0.5 |
0.7 |
1.3 |
|
Other Current liabilities, Total |
7.9 |
-13.3 |
29.1 |
10.0 |
11.6 |
|
Total Current Liabilities |
1,019.5 |
781.4 |
662.8 |
570.9 |
483.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
200.3 |
226.6 |
297.4 |
290.4 |
265.6 |
|
Total Long Term Debt |
200.3 |
226.6 |
297.4 |
290.4 |
265.6 |
|
Total Debt |
1,075.8 |
928.5 |
830.1 |
767.2 |
657.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.3 |
1.3 |
0.4 |
0.4 |
0.4 |
|
Deferred Income Tax |
1.3 |
1.3 |
0.4 |
0.4 |
0.4 |
|
Minority Interest |
-0.1 |
-0.1 |
0.1 |
0.3 |
0.2 |
|
Other Long Term Liabilities |
6.4 |
6.5 |
4.7 |
4.8 |
4.9 |
|
Other Liabilities, Total |
6.4 |
6.5 |
4.7 |
4.8 |
4.9 |
|
Total Liabilities |
1,227.5 |
1,015.7 |
965.5 |
866.7 |
754.2 |
|
|
|
|
|
|
|
|
Common Stock |
125.8 |
125.1 |
119.8 |
118.2 |
117.5 |
|
Common Stock |
125.8 |
125.1 |
119.8 |
118.2 |
117.5 |
|
Additional Paid-In Capital |
346.3 |
344.1 |
276.1 |
272.4 |
270.6 |
|
Retained Earnings (Accumulated Deficit) |
265.7 |
236.0 |
218.6 |
202.0 |
193.9 |
|
Translation Adjustment |
-1.3 |
-1.3 |
-1.1 |
-1.4 |
-0.9 |
|
Other Equity, Total |
-1.3 |
-1.3 |
-1.1 |
-1.4 |
-0.9 |
|
Total Equity |
736.6 |
703.8 |
613.4 |
591.3 |
581.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,964.1 |
1,719.5 |
1,578.9 |
1,458.0 |
1,335.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
906.5 |
906.5 |
881.9 |
881.9 |
881.9 |
|
Total Common Shares Outstanding |
906.5 |
906.5 |
881.9 |
881.9 |
881.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Common Shareholders |
117,790 |
107,282 |
69,942 |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
- |
11.4 |
- |
9.2 |
- |
|
Deferred Revenue - Current |
8.4 |
20.8 |
16.7 |
11.0 |
15.1 |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
1,346.4 |
999.4 |
1,333.8 |
993.9 |
569.1 |
|
Cash Payments |
-1,226.5 |
-829.7 |
-1,083.2 |
-1,069.4 |
-545.3 |
|
Cash Taxes Paid |
-73.0 |
-84.4 |
-71.3 |
-49.7 |
-28.8 |
|
Other Operating Cash Flow |
-25.6 |
-19.0 |
-34.1 |
-21.3 |
-13.1 |
|
Changes in Working Capital |
-25.6 |
-19.0 |
-34.1 |
-21.3 |
-13.1 |
|
Cash from Operating Activities |
21.3 |
66.4 |
145.1 |
-146.6 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Capital Expenditures |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Sale of Business |
- |
- |
-10.9 |
- |
- |
|
Sale of Fixed Assets |
0.3 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Sale/Maturity of Investment |
- |
- |
- |
- |
0.5 |
|
Purchase of Investments |
- |
- |
- |
-14.2 |
-4.1 |
|
Other Investing Cash Flow |
- |
2.3 |
0.6 |
-0.3 |
-5.1 |
|
Other Investing Cash Flow Items, Total |
0.3 |
2.4 |
-10.1 |
-14.4 |
-8.6 |
|
Cash from Investing Activities |
-216.5 |
-94.0 |
-135.6 |
-82.8 |
-54.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
153.6 |
-28.8 |
-37.3 |
-31.6 |
-28.2 |
|
Financing Cash Flow Items |
153.6 |
-28.8 |
-37.3 |
-31.6 |
-28.2 |
|
Total Debt Issued |
779.7 |
644.2 |
481.1 |
581.3 |
259.8 |
|
Total Debt Reduction |
-664.3 |
-598.1 |
-475.7 |
-303.3 |
-145.6 |
|
Issuance (Retirement) of Debt, Net |
115.4 |
46.2 |
5.4 |
278.1 |
114.2 |
|
Cash from Financing Activities |
269.1 |
17.3 |
-31.9 |
246.5 |
86.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
0.0 |
-0.5 |
-0.2 |
-0.2 |
|
Net Change in Cash |
73.3 |
-10.3 |
-22.9 |
16.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.6 |
49.6 |
71.6 |
48.6 |
33.2 |
|
Net Cash - Ending Balance |
112.9 |
39.3 |
48.7 |
65.4 |
46.4 |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
Interim Cash Flows
Standardized
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 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) |
6.583076 |
6.768989 |
6.807123 |
6.825839 |
6.827505 |
|
|
|
|
|
|
|
|
Cash Receipts |
388.9 |
1,346.4 |
952.1 |
594.5 |
263.6 |
|
Cash Payments |
-267.3 |
-1,226.5 |
-879.0 |
-588.3 |
-258.7 |
|
Cash Taxes Paid |
-29.5 |
-73.0 |
-37.2 |
-22.0 |
-8.3 |
|
Other Operating Cash Flow |
-9.0 |
-25.6 |
-18.2 |
-10.6 |
-5.6 |
|
Changes in Working Capital |
-9.0 |
-25.6 |
-18.2 |
-10.6 |
-5.6 |
|
Cash from Operating Activities |
83.1 |
21.3 |
17.7 |
-26.3 |
-9.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-68.8 |
-216.8 |
-137.3 |
-104.8 |
-54.7 |
|
Capital Expenditures |
-68.8 |
-216.8 |
-137.3 |
-104.8 |
-54.7 |
|
Sale of Fixed Assets |
0.0 |
0.3 |
0.1 |
0.1 |
0.0 |
|
Other Investing Cash Flow |
- |
- |
- |
0.0 |
- |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.3 |
0.1 |
0.1 |
0.0 |
|
Cash from Investing Activities |
-68.7 |
-216.5 |
-137.2 |
-104.7 |
-54.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-11.3 |
153.6 |
161.2 |
164.1 |
187.9 |
|
Financing Cash Flow Items |
-11.3 |
153.6 |
161.2 |
164.1 |
187.9 |
|
Total Debt Issued |
305.6 |
779.7 |
519.9 |
323.5 |
106.5 |
|
Total Debt Reduction |
-257.1 |
-664.3 |
-518.2 |
-317.2 |
-151.7 |
|
Issuance (Retirement) of Debt, Net |
48.4 |
115.4 |
1.7 |
6.2 |
-45.2 |
|
Cash from Financing Activities |
37.1 |
269.1 |
162.9 |
170.3 |
142.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
-0.6 |
-0.6 |
-0.4 |
0.0 |
|
Net Change in Cash |
51.3 |
73.3 |
42.8 |
38.9 |
78.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
116.1 |
39.6 |
39.4 |
39.3 |
39.3 |
|
Net Cash - Ending Balance |
167.4 |
112.9 |
82.2 |
78.2 |
118.1 |
|
Depreciation |
- |
25.5 |
- |
13.8 |
- |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing Certified
Public Accountants |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales from Principal Activities |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
Total Revenue |
1,369.0 |
1,047.4 |
1,318.5 |
1,112.3 |
627.5 |
|
|
|
|
|
|
|
|
Cost of Sales from Principal
Activities |
1,179.2 |
919.5 |
1,151.8 |
936.1 |
528.5 |
|
Business Tax & Surcharges |
8.3 |
6.3 |
6.6 |
4.8 |
4.7 |
|
Selling Expense |
20.0 |
17.7 |
17.9 |
14.3 |
9.6 |
|
General & Administrative
Expenses |
65.7 |
48.0 |
49.8 |
43.2 |
38.3 |
|
Finance Expenses |
- |
- |
44.8 |
- |
12.8 |
|
Interest Expense |
26.6 |
24.4 |
- |
20.7 |
- |
|
Interests Income |
-1.2 |
-0.5 |
- |
-0.7 |
- |
|
Foreign Exchange Gain/Loss |
-0.8 |
-0.1 |
- |
5.3 |
- |
|
Cash Discount |
- |
- |
- |
1.5 |
- |
|
Commission Fee |
- |
- |
- |
0.2 |
- |
|
Other Finance Expense |
6.4 |
2.8 |
- |
0.0 |
- |
|
Loss on Impairment of Fixed Assets |
8.6 |
8.9 |
50.1 |
4.4 |
0.8 |
|
Gain/Loss from Change in Fair
Value |
0.2 |
- |
- |
- |
0.2 |
|
Investment Income |
1.2 |
0.4 |
-0.7 |
-0.2 |
5.6 |
|
Total Operating Expense |
1,314.3 |
1,027.3 |
1,320.4 |
1,029.6 |
600.5 |
|
|
|
|
|
|
|
|
Gain from Sale of Assets |
0.1 |
0.8 |
0.3 |
0.0 |
- |
|
Non - Operating Income |
8.5 |
3.7 |
2.0 |
7.6 |
4.4 |
|
Non - Operating Expense |
-0.2 |
-1.2 |
-1.1 |
-0.5 |
-1.6 |
|
Loss from Sale of Assets |
-1.7 |
-0.3 |
-0.9 |
-0.8 |
- |
|
Net Income Before Taxes |
61.5 |
23.2 |
-1.5 |
89.0 |
29.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
7.4 |
3.9 |
-4.6 |
10.7 |
5.1 |
|
Net Income After Taxes |
54.0 |
19.2 |
3.1 |
78.3 |
24.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.5 |
0.3 |
0.2 |
1.2 |
|
Net Income Before Extra. Items |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
879.6 |
830.3 |
830.6 |
825.2 |
824.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Basic EPS Including ExtraOrdinary Items |
0.06 |
0.02 |
0.00 |
0.10 |
0.03 |
|
Dilution Adjustment |
- |
- |
0.0 |
- |
- |
|
Diluted Net Income |
54.1 |
19.8 |
3.4 |
78.5 |
25.9 |
|
Diluted Weighted Average Shares |
879.6 |
830.3 |
830.6 |
838.7 |
824.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
0.06 |
0.02 |
0.00 |
0.09 |
0.03 |
|
DPS-A Share |
0.02 |
0.01 |
0.00 |
0.01 |
0.02 |
|
Gross Dividends - Common Stock |
14.6 |
9.5 |
1.9 |
7.1 |
13.5 |
|
Normalized Income Before Taxes |
71.6 |
31.6 |
49.2 |
94.2 |
30.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
8.7 |
5.4 |
13.1 |
11.3 |
5.3 |
|
Normalized Income After Taxes |
62.9 |
26.2 |
36.1 |
82.8 |
25.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
63.1 |
26.8 |
36.4 |
83.0 |
26.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Diluted Normalized EPS |
0.07 |
0.03 |
0.04 |
0.10 |
0.03 |
|
Interest Expense |
26.6 |
24.4 |
33.1 |
20.7 |
- |
|
Cash Discount |
5.2 |
1.8 |
4.9 |
1.5 |
- |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
Amort of Intangibles |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
|
Interest Capitalized |
-6.2 |
- |
-2.7 |
- |
- |
|
Advertising Expesnes |
0.2 |
0.2 |
0.2 |
- |
- |
|
Rental Expesnes |
2.4 |
2.4 |
2.2 |
- |
- |
|
Current Tax |
8.5 |
1.3 |
- |
14.0 |
- |
|
Current Tax - Total |
8.5 |
1.3 |
- |
14.0 |
- |
|
Deferred Tax |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Deferred Tax - Total |
-1.1 |
2.7 |
- |
1.0 |
- |
|
Other Tax |
- |
- |
- |
-4.2 |
- |
|
Income Tax - Total |
7.4 |
3.9 |
- |
10.7 |
- |
Interim Income Statement
As Reported
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
9 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Restated Special |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.583076 |
6.749901 |
6.770018 |
6.824215 |
6.827505 |
|
|
|
|
|
|
|
|
Net Sales |
485.4 |
1,071.5 |
348.9 |
366.0 |
298.0 |
|
Total Revenue |
485.4 |
1,071.5 |
348.9 |
366.0 |
298.0 |
|
|
|
|
|
|
|
|
Cost of Sales |
397.9 |
921.5 |
296.4 |
318.0 |
258.1 |
|
Business Tax and Surcharges |
3.5 |
6.7 |
2.4 |
1.1 |
1.6 |
|
Selling Expense |
6.7 |
15.7 |
4.8 |
5.1 |
4.3 |
|
General & Administrative Expenses |
22.4 |
50.9 |
15.9 |
12.7 |
14.9 |
|
Finance Expense |
16.5 |
23.9 |
13.5 |
9.9 |
7.1 |
|
Impairment Loss on Assets |
0.0 |
8.5 |
0.0 |
0.1 |
0.1 |
|
Gain/Loss on Inv. Change at Fair
Value |
-0.2 |
0.2 |
- |
- |
- |
|
Investment Income |
1.2 |
1.0 |
0.3 |
0.3 |
0.2 |
|
Total Operating Expense |
448.0 |
1,028.4 |
333.3 |
347.2 |
286.3 |
|
|
|
|
|
|
|
|
Non - Operating Income |
0.3 |
7.3 |
1.5 |
1.2 |
1.3 |
|
Non - Operating Expense |
-0.1 |
-1.8 |
-0.4 |
-0.1 |
-0.2 |
|
Net Income Before Taxes |
37.6 |
48.7 |
16.7 |
19.9 |
12.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
9.5 |
5.1 |
3.1 |
3.4 |
2.4 |
|
Net Income After Taxes |
28.1 |
43.6 |
13.6 |
16.4 |
10.4 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.1 |
0.0 |
0.1 |
|
Net Income Before Extra. Items |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
Net Income |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
906.5 |
877.2 |
863.7 |
826.6 |
881.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Diluted Net Income |
28.1 |
43.7 |
13.7 |
16.4 |
10.5 |
|
Diluted Weighted Average Shares |
906.5 |
877.2 |
863.7 |
826.6 |
881.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.03 |
0.05 |
0.02 |
0.02 |
0.01 |
|
DPS-A Share |
0.00 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
14.7 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
37.6 |
57.2 |
16.7 |
20.0 |
12.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
9.5 |
6.0 |
3.1 |
3.4 |
2.4 |
|
Normalized Income After Taxes |
28.1 |
51.2 |
13.6 |
16.5 |
10.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
28.1 |
51.3 |
13.7 |
16.5 |
10.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.06 |
0.02 |
0.02 |
0.01 |
|
Diluted Normalized EPS |
0.03 |
0.06 |
0.02 |
0.02 |
0.01 |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
7.8051 |
|
Auditor |
ShineWing Certified
Public Accountants |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
116.0 |
39.3 |
49.6 |
68.1 |
47.4 |
|
Notes Receivable |
57.9 |
57.0 |
16.1 |
98.2 |
10.0 |
|
Accounts Receivable |
55.0 |
46.4 |
47.3 |
60.6 |
39.4 |
|
Provision for Doubtful Accounts |
-0.5 |
-0.2 |
-0.8 |
-0.8 |
-0.8 |
|
Other Receivables |
8.3 |
5.9 |
10.9 |
7.0 |
4.5 |
|
Payment in Advance |
106.9 |
28.7 |
34.3 |
38.1 |
6.9 |
|
Raw Materials |
227.4 |
62.4 |
68.5 |
77.9 |
37.7 |
|
Work-in-Progress |
87.3 |
48.2 |
41.8 |
54.5 |
25.9 |
|
Finished Goods in Store |
189.5 |
147.5 |
193.8 |
136.6 |
55.9 |
|
Circulating Material |
5.3 |
2.0 |
2.2 |
2.1 |
3.4 |
|
Provision for Inventory
Obsolescence |
- |
- |
- |
-1.5 |
-0.1 |
|
Other Current Assets |
0.1 |
0.0 |
- |
- |
- |
|
Total Current Assets |
853.1 |
437.2 |
463.8 |
540.9 |
230.3 |
|
|
|
|
|
|
|
|
Long Term Equity Investment |
- |
- |
- |
0.8 |
- |
|
Buildings & Structures |
460.7 |
402.2 |
318.8 |
269.0 |
217.4 |
|
Machinery & Equipment |
181.2 |
165.4 |
37.6 |
37.6 |
35.7 |
|
Energy Equipment |
- |
- |
29.2 |
22.2 |
18.7 |
|
Transportation Equipment |
11.5 |
9.7 |
9.1 |
7.7 |
6.6 |
|
Specialized Chemical Process
Equipment |
- |
- |
25.5 |
21.6 |
19.9 |
|
Mining Equipment |
- |
- |
43.5 |
34.6 |
26.9 |
|
Other Equipment |
26.0 |
24.2 |
21.0 |
13.7 |
11.4 |
|
Accumulated Depreciation |
-159.1 |
-133.9 |
-114.3 |
-95.2 |
-79.4 |
|
Provision for Fixed Assets
Impairment |
-6.5 |
-2.3 |
-3.4 |
-6.3 |
-2.8 |
|
Construction Materials |
- |
11.9 |
0.8 |
- |
- |
|
Construction in Progress |
273.3 |
91.5 |
94.7 |
30.8 |
5.6 |
|
Intangible Asset |
66.9 |
68.2 |
69.8 |
68.8 |
58.6 |
|
Deferred Income Tax Assets - Current |
10.3 |
7.8 |
11.0 |
2.3 |
1.6 |
|
Long Term Prepaid Expense |
2.0 |
2.2 |
0.0 |
- |
0.5 |
|
Total Assets |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
613.7 |
306.9 |
396.1 |
395.1 |
242.9 |
|
Financial Liabilities for Trading |
0.2 |
- |
- |
- |
0.2 |
|
Notes Payable |
- |
- |
- |
- |
2.6 |
|
Accounts Payable |
60.8 |
42.1 |
45.9 |
31.2 |
25.5 |
|
Customer Advance |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Accrued Payroll |
19.4 |
12.0 |
13.9 |
8.7 |
4.5 |
|
Tax Payable |
-35.7 |
-24.3 |
-2.5 |
2.1 |
9.4 |
|
Interest Payable |
1.4 |
2.2 |
2.3 |
1.9 |
0.4 |
|
Other Creditors |
11.2 |
5.0 |
4.1 |
9.5 |
3.3 |
|
Current Portion of LT Debt |
88.0 |
64.4 |
24.9 |
- |
23.1 |
|
Other Current Liabilities |
1.6 |
0.1 |
0.1 |
0.0 |
- |
|
Total Current Liabilities |
781.4 |
422.6 |
492.5 |
454.3 |
314.9 |
|
|
|
|
|
|
|
|
Long Term Borrowings |
226.6 |
213.6 |
87.9 |
92.4 |
5.2 |
|
Debentures Payable |
- |
66.1 |
65.3 |
78.3 |
- |
|
Total Long Term Debt |
226.6 |
279.7 |
153.3 |
170.7 |
5.2 |
|
|
|
|
|
|
|
|
Long Term Payables |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax Liabilities |
1.3 |
0.4 |
1.0 |
2.2 |
- |
|
Other Long Term Liabilities |
6.5 |
5.2 |
1.5 |
1.1 |
1.1 |
|
Minority Interests |
-0.1 |
0.0 |
0.7 |
1.0 |
1.0 |
|
Total Liabilities |
1,015.7 |
707.9 |
649.0 |
629.2 |
322.2 |
|
|
|
|
|
|
|
|
Capital Stock |
125.1 |
95.3 |
95.4 |
73.5 |
68.8 |
|
Paid in Capital |
344.1 |
98.2 |
98.2 |
81.6 |
68.9 |
|
Surplus Reserve |
52.0 |
41.9 |
38.4 |
41.4 |
28.5 |
|
Undistributed Profit |
184.0 |
141.7 |
127.3 |
123.0 |
62.7 |
|
Translation Adjustment |
-1.3 |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
|
Total Equity |
703.8 |
376.3 |
358.3 |
319.5 |
228.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,719.5 |
1,084.2 |
1,007.2 |
948.7 |
550.9 |
|
|
|
|
|
|
|
|
S/O-A Share |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
Total Common Shares Outstanding |
906.5 |
833.1 |
833.1 |
825.2 |
824.8 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Customer Advance |
20.8 |
14.2 |
7.6 |
5.8 |
3.0 |
|
Accumulated Amort. of Intangibles |
11.4 |
7.4 |
4.6 |
- |
- |
|
Full-Time Employees |
15,297 |
- |
15,027 |
13,958 |
13,834 |
|
Number of Common Shareholders |
107,282 |
- |
89,714 |
41,523 |
40,789 |
Interim Balance Sheet
As Reported
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5485 |
6.5897 |
6.6912 |
6.7814 |
6.8259 |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
168.3 |
116.0 |
83.6 |
78.7 |
118.2 |
|
Notes Receivable |
98.9 |
57.9 |
55.4 |
94.4 |
69.1 |
|
Accounts Receivable |
102.7 |
54.5 |
115.2 |
67.5 |
75.3 |
|
Other Receivables |
19.1 |
8.3 |
12.5 |
8.3 |
5.5 |
|
Payment in Advance |
167.9 |
106.9 |
128.7 |
135.3 |
98.9 |
|
Inventory |
502.1 |
509.6 |
410.7 |
351.2 |
286.7 |
|
Other Current Assets |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
1,059.1 |
853.1 |
806.2 |
735.3 |
653.7 |
|
|
|
|
|
|
|
|
Fixed Assets, Net |
687.7 |
513.9 |
459.4 |
458.7 |
460.5 |
|
Construction Materials |
- |
- |
12.7 |
12.5 |
12.4 |
|
Construction in Progress |
138.5 |
273.3 |
222.9 |
173.9 |
131.0 |
|
Fixed Assets Pending Disposal |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Intangible Asset |
66.4 |
66.9 |
66.8 |
66.9 |
67.4 |
|
Development Cost |
0.1 |
- |
1.0 |
0.7 |
0.3 |
|
Long Term Deferred Charge |
2.0 |
2.0 |
2.1 |
2.1 |
2.2 |
|
Deferred Income Tax Assets -
Current |
10.3 |
10.3 |
7.8 |
7.9 |
7.8 |
|
Total Assets |
1,964.1 |
1,719.5 |
1,578.9 |
1,458.0 |
1,335.3 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
754.9 |
613.7 |
465.5 |
447.3 |
354.8 |
|
Financial Liabilities for Trading |
- |
0.2 |
- |
- |
- |
|
Accounts Payable |
95.1 |
60.8 |
79.5 |
63.4 |
59.6 |
|
Customer Advance |
8.4 |
20.8 |
16.7 |
11.0 |
15.1 |
|
Accrued Payroll |
25.4 |
19.4 |
11.4 |
11.6 |
10.6 |
|
Tax Payable |
-4.3 |
-35.7 |
11.9 |
-1.7 |
-4.8 |
|
Interest Payable |
2.4 |
1.4 |
1.9 |
1.2 |
2.8 |
|
Other Creditors |
13.3 |
11.2 |
8.2 |
8.0 |
7.1 |
|
Current Portion of Long Term Debt |
120.6 |
88.0 |
67.3 |
29.5 |
36.6 |
|
Other Current Liabilities |
3.8 |
1.6 |
0.5 |
0.7 |
1.3 |
|
Total Current Liabilities |
1,019.5 |
781.4 |
662.8 |
570.9 |
483.2 |
|
|
|
|
|
|
|
|
Long Term Borrowings |
200.3 |
226.6 |
230.6 |
224.6 |
200.4 |
|
Debentures Payable |
- |
- |
66.8 |
65.8 |
65.2 |
|
Total Long Term Debt |
200.3 |
226.6 |
297.4 |
290.4 |
265.6 |
|
|
|
|
|
|
|
|
Long Term Payables |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax Liabilities |
1.3 |
1.3 |
0.4 |
0.4 |
0.4 |
|
Other Non- Current Liabilities |
6.4 |
6.5 |
4.7 |
4.8 |
4.9 |
|
Minority Interests |
-0.1 |
-0.1 |
0.1 |
0.3 |
0.2 |
|
Total Liabilities |
1,227.5 |
1,015.7 |
965.5 |
866.7 |
754.2 |
|
|
|
|
|
|
|
|
Capital Stock |
125.8 |
125.1 |
119.8 |
118.2 |
117.5 |
|
Paid in Capital |
346.3 |
344.1 |
276.1 |
272.4 |
270.6 |
|
Surplus Reserve |
52.3 |
52.0 |
42.8 |
42.2 |
42.0 |
|
Undistributed Profit |
213.4 |
184.0 |
175.8 |
159.8 |
151.9 |
|
Translation Adjustment |
-1.3 |
-1.3 |
-1.1 |
-1.4 |
-0.9 |
|
Total Equity |
736.6 |
703.8 |
613.4 |
591.3 |
581.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,964.1 |
1,719.5 |
1,578.9 |
1,458.0 |
1,335.3 |
|
|
|
|
|
|
|
|
S/O-A Share |
906.5 |
906.5 |
881.9 |
881.9 |
881.9 |
|
Total Common Shares Outstanding |
906.5 |
906.5 |
881.9 |
881.9 |
881.9 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
8.4 |
20.8 |
16.7 |
11.0 |
15.1 |
|
Accumulated Amort. of Intangibles |
- |
11.4 |
- |
9.2 |
- |
|
Shareholders |
117,790 |
107,282 |
69,942 |
- |
- |
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 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate (Period
Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
7.972372 |
|
Auditor |
ShineWing Certified
Public Accountants |
ShineWing Certified
Public Accountants |
Xinyong Zhonghe CPA |
Zhonghe Zhengxin |
Zhonghe Zhengxin |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Received from Sale of Goods
& Svcs |
1,346.4 |
999.4 |
1,333.8 |
993.9 |
569.1 |
|
Cash Paid for Goods & Services |
-1,226.5 |
-829.7 |
-1,083.2 |
-1,069.4 |
-545.3 |
|
Tax Refund Received |
6.0 |
2.6 |
3.5 |
8.7 |
4.0 |
|
Other Cash Received from Operating
Actvt |
9.1 |
9.2 |
9.2 |
6.7 |
11.6 |
|
Cash Taxes Paid |
-78.9 |
-87.0 |
-74.9 |
-58.4 |
-32.9 |
|
Other Cash Paid for Operating
Activities |
-34.7 |
-28.2 |
-43.2 |
-28.0 |
-24.8 |
|
Cash from Operating Activities |
21.3 |
66.4 |
145.1 |
-146.6 |
-18.2 |
|
|
|
|
|
|
|
|
Sale/Maturity/Disposal of
Investments |
- |
- |
- |
- |
0.5 |
|
Cash from Return on Investments |
- |
0.1 |
0.6 |
- |
0.0 |
|
Sale of Fixed, Intangible &
Other LTA |
0.3 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Cash from Disposal of Subsidiaries |
- |
- |
-10.9 |
- |
- |
|
Other Cash Received from Investing
Actvt |
- |
2.2 |
0.0 |
0.5 |
1.0 |
|
Acquire Fixed, Intangible &
Other LTA |
-216.8 |
-96.4 |
-125.4 |
-68.4 |
-45.8 |
|
Cash Paid for Investments |
- |
- |
- |
-14.2 |
-4.1 |
|
Other Cash Paid for Investing
Activities |
- |
- |
- |
-0.8 |
-6.1 |
|
Cash from Investing Activities |
-216.5 |
-94.0 |
-135.6 |
-82.8 |
-54.4 |
|
|
|
|
|
|
|
|
Cash from Investor |
195.9 |
- |
- |
0.1 |
0.0 |
|
Cash from Borrowings |
779.7 |
644.2 |
481.1 |
581.3 |
259.8 |
|
Other Cash Received from Financing
Actvt |
- |
- |
- |
- |
0.0 |
|
Repayment of Borrowings |
-664.3 |
-598.1 |
-475.7 |
-303.3 |
-145.6 |
|
Cash Paid for Dividends and
Interests |
-41.4 |
-27.9 |
-37.1 |
-31.3 |
-27.7 |
|
Other Cash Paid for Financing
Activities |
-0.8 |
-0.9 |
-0.2 |
-0.4 |
-0.5 |
|
Cash from Financing Activities |
269.1 |
17.3 |
-31.9 |
246.5 |
86.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
0.0 |
-0.5 |
-0.2 |
-0.2 |
|
Net Change in Cash |
73.3 |
-10.3 |
-22.9 |
16.8 |
13.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.6 |
49.6 |
71.6 |
48.6 |
33.2 |
|
Net Cash - Ending Balance |
112.9 |
39.3 |
48.7 |
65.4 |
46.4 |
|
Depreciation |
25.5 |
21.8 |
20.9 |
12.5 |
10.4 |
|
Amortization of Intangibles |
2.5 |
2.4 |
2.3 |
2.0 |
2.0 |
Interim Cash Flows
As Reported
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 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) |
6.583076 |
6.768989 |
6.807123 |
6.825839 |
6.827505 |
|
|
|
|
|
|
|
|
Cash Received from Sale of Goods
& Svcs |
388.9 |
1,346.4 |
952.1 |
594.5 |
263.6 |
|
Cash Paid for Goods & Services |
-267.3 |
-1,226.5 |
-879.0 |
-588.3 |
-258.7 |
|
Tax Refund Received |
0.0 |
6.0 |
2.7 |
2.2 |
1.2 |
|
Other Cash Received from Operating
Actvt |
2.7 |
9.1 |
7.5 |
5.6 |
2.0 |
|
Cash Taxes Paid |
-29.5 |
-78.9 |
-39.9 |
-24.2 |
-9.5 |
|
Other Cash Paid for Operating
Activities |
-11.7 |
-34.7 |
-25.7 |
-16.1 |
-7.7 |
|
Cash from Operating Activities |
83.1 |
21.3 |
17.7 |
-26.3 |
-9.1 |
|
|
|
|
|
|
|
|
Sale of Fixed, Intangible &
Other LTA |
0.0 |
0.3 |
0.1 |
0.1 |
0.0 |
|
Acquire Fixed, Intangible &
Other LTA |
-68.8 |
-216.8 |
-137.3 |
-104.8 |
-54.7 |
|
Other Cash Paid for Investing
Activities |
- |
- |
- |
0.0 |
- |
|
Cash from Investing Activities |
-68.7 |
-216.5 |
-137.2 |
-104.7 |
-54.7 |
|
|
|
|
|
|
|
|
Cash from Investors |
- |
195.9 |
194.8 |
194.2 |
194.2 |
|
Cash from Borrowings |
305.6 |
779.7 |
519.9 |
323.5 |
106.5 |
|
Repayment of Borrowings |
-257.1 |
-664.3 |
-518.2 |
-317.2 |
-151.7 |
|
Cash Paid for Dividends and
Interests |
-11.3 |
-41.4 |
-32.7 |
-29.3 |
-5.7 |
|
Cash from Other Financing
Activities |
- |
-0.8 |
-0.8 |
-0.8 |
-0.6 |
|
Cash from Financing Activities |
37.1 |
269.1 |
162.9 |
170.3 |
142.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
-0.6 |
-0.6 |
-0.4 |
0.0 |
|
Net Change in Cash |
51.3 |
73.3 |
42.8 |
38.9 |
78.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
116.1 |
39.6 |
39.4 |
39.3 |
39.3 |
|
Net Cash - Ending Balance |
167.4 |
112.9 |
82.2 |
78.2 |
118.1 |
|
Depreciation |
- |
25.5 |
- |
13.8 |
- |
|
Amortization of Intangibles |
- |
2.5 |
- |
1.2 |
- |
Geographic Segments
Financials in: As
Reported (mil)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financials in:
As Reported (mil)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.23 |
|
UK Pound |
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
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.