MIRA INFORM REPORT
|
Report Date : |
19.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHENZHEN MTC CO.,LTD. |
|
|
|
|
Registered Office : |
31/32F A
Xingheshiji Building, 3069 Caitian Road, Futian Dist, Shenzhen, 518026 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.06.2007 |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
Research, Development, Design, Manufacture and distribution of household video and audio consumer
electronics. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 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 |
Company name & address
Shenzhen MTC Co.,Ltd.
31/32F A Xingheshiji Building
3069 Caitian Road, Futian Dist
Shenzhen, 518026
China
Tel: 86-755-33343666
Fax: 86-755-33345566
Web: www.szmtc.com.cn
synthesis
Employees: 2,309
Company Type: Public Independent
Traded: Shenzhen Stock Exchange: 002429
Incorporation Date:
01-Jun-2007
Auditor: Shenzhen Pengcheng Accounting Office
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Chinese
Renminbi
Annual Sales: 445.9
1
Net Income: 50.7
Total Assets: 477.3 2
Market Value: 1,141.6
(02-Sep-2011)
Business Description
Shenzhen MTC Co.,
Ltd. is principally engaged in the research, development, design, manufacture
and distribution of household video and audio consumer electronics. The Company
primarily provides household video and audio consumer electronics, including
liquid crystal display (LCD) televisions, digital set top boxes, blue laser
video disk players and multimedia sound boxes. The Company offers original
design manufacturer (ODM) services. The Company distributes its products in
domestic and overseas markets. As of December 31, 2010, the Company had two
subsidiaries and associates. For the six months ended 30 June 2011, Shenzhen
MTC Co.,Ltd.'s revenues increased 26% to RMB1.57B. Net income for the period
increased less than 1% to RMB150.8M. Revenues reflect an increase in sales
volume due to stronger market demand and favorable market environment. Net
income was partially offset by the increased general and administrative
expense, as well as higher non-operating expense.
Industry
Industry Audio and Video Equipment
ANZSIC 2006: 2429 - Other
Electronic Equipment Manufacturing
NACE 2002: 3230 - Manufacture
of television and radio receivers, sound or video recording or reproducing
apparatus and
associated goods
NAICS 2002: 33431 - Audio and
Video Equipment Manufacturing
UK SIC 2003: 3230 - Manufacture
of television and radio receivers, sound or video recording or reproducing
apparatus and associated
goods
US SIC 1987: 3651 - Household
Audio and Video Equipment
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
1 |
9-Jul-2011 |
||
|
1 |
11-Nov-2010 |
||
|
3 |
21-May-2011 |
||
|
1 |
21-Oct-2010 |
||
|
5 |
Shenzhen
MTC Co.,Ltd. to Apply for Comprehensive Credit Lines |
23-Jun-2011 |
* number of significant developments
within the last 12 months
Financial Summary
|
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
31/32F A Xingheshiji Building
3069 Caitian Road, Futian Dist
Shenzhen, 518026
China
Tel: 86-755-33343666
Fax: 86-755-33345566
Web: www.szmtc.com.cn
Quote Symbol - Exchange
002429 - Shenzhen
Stock Exchange
Sales CNY(mil): 3,018.6
Assets CNY(mil): 3,145.0
Employees: 2,309
Fiscal Year End: 31-Dec-2010
Industry: Audio and Video Equipment
Incorporation Date: 01-Jun-2007
Company Type: Public Independent
Quoted Status: Quoted
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Home Page
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2429 - Other Electronic Equipment Manufacturing
NACE 2002 Codes:
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
NAICS 2002 Codes:
33431 - Audio and Video Equipment Manufacturing
US SIC 1987:
3651 - Household Audio and Video Equipment
UK SIC 2003:
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
Business
Description
Shenzhen MTC Co.,
Ltd. is principally engaged in the research, development, design, manufacture
and distribution of household video and audio consumer electronics. The Company
primarily provides household video and audio consumer electronics, including
liquid crystal display (LCD) televisions, digital set top boxes, blue laser
video disk players and multimedia sound boxes. The Company offers original
design manufacturer (ODM) services. The Company distributes its products in
domestic and overseas markets. As of December 31, 2010, the Company had two
subsidiaries and associates. For the six months ended 30 June 2011, Shenzhen
MTC Co.,Ltd.'s revenues increased 26% to RMB1.57B. Net income for the period
increased less than 1% to RMB150.8M. Revenues reflect an increase in sales
volume due to stronger market demand and favorable market environment. Net
income was partially offset by the increased general and administrative
expense, as well as higher non-operating expense.
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Significant Developments
Shenzhen MTC
Co.,Ltd. Acquires Property Jul 09, 2011
Shenzhen MTC
Co.,Ltd. announced that it has obtained five plots of land in Shenzhen at
totally RMB 141,923,500.
Shenzhen MTC
Co.,Ltd. Announces FY 2010 Dividend Payment Date Jul 01, 2011
Shenzhen MTC
Co.,Ltd. announced that it will pay the cash dividend of RMB 2.7 per 10 shares
(after tax) and use the additional paid-in capital to distribute five new
shares for every 10 shares to shareholders recorded on July 6, 2011, 2011. The
Company's shares will be traded ex-dividend and ex-right on July 7, 2011.
Shenzhen MTC
Co.,Ltd. to Apply for Comprehensive Credit Lines Jun 23, 2011
Shenzhen MTC
Co.,Ltd. announced that it plans to apply to Shenzhen Branch of Shanghai Pudong
Development Bank and Shenzhen Branch of Shenzhen Ping An Bank for a
comprehensive credit line of RMB 480 million and RMB 200 million, both with a
term of one year.
Shenzhen MTC
Co.,Ltd. to Set up Subsidiary May 21, 2011
Shenzhen MTC
Co.,Ltd. announced that it will invest USD 100,000 to set up a wholly owned
subsidiary named MTC (BVI) Co., Ltd in Virgin Islands. The subsidiary will be
with a registered capital of USD 100,00 and be engaged in the raw material
procurement, after service supplement and overseas business development.
Shenzhen MTC
Co.,Ltd. Announces FY 2010 Dividend Payment Apr 28, 2011
Shenzhen MTC
Co.,Ltd. announced that it will use undistributed profits to pay the cash
dividend of RMB 3 per 10 shares (before tax), and use additional paid-in
capital to issue new shares to shareholders, with a ratio of every 10 shares to
be given five new shares.
Shenzhen MTC
Co.,Ltd. to Apply for Credit Lines Mar 01, 2011
Shenzhen MTC
Co.,Ltd. announced that it will apply to HSBC Bank(China) for a credit line of
RMB 200 million, and to Shenzhen Branch of China Construction Bank for a credit
line of RMB 600 million, both with a term of one year.
Shenzhen MTC Co.,Ltd. to Apply for Letter of Credit and Credit Line Feb
15, 2011
Shenzhen MTC Co.,Ltd.
announced that it will apply to HSBC Bank(China) for a letter of credit of RMB
200 million, and to Shenzhen Branch of China Construction Bank for a credit
line of RMB 600 million, both with a term of one year.
Shenzhen MTC
Co.,Ltd. to Apply for Comprehensive Credit Line Jan 25, 2011
Shenzhen MTC
Co.,Ltd. announced that it will apply to Shenzhen Branch of Bank of Jiangsu for
a comprehensive credit line of RMB 251 million, with a term of one year.
Shenzhen MTC
Co.,Ltd. to Set up Subsidiary Dec 17, 2010
Shenzhen MTC
Co.,Ltd. announced that it plans to invest RMB 200 million to set up a wholly
owned subsidiary, which will be with a registered capital of RMB 200 million
and be engaged in the research and development, producing and sale of light
emitting diode (LED) lightening devices and various LED lamps.
Shenzhen MTC
Co.,Ltd. to Apply for Comprehensive Credit Lines Dec 15, 2010
Shenzhen MTC
Co.,Ltd. announced that it plans to apply to Shenzhen Branch of China CITIC
Bank for a comprehensive credit line of RMB 60 million, to Shenzhen Branch of
China Everbright Bank for a comprehensive credit line of RMB 60 million, and to
Shenzhen Branch of Bank of Beijing for a comprehensive credit line of USD 10
million, all with a term of one year.
Shenzhen MTC
Co.,Ltd. to Set up Subsidiary Dec 14, 2010
Shenzhen MTC
Co.,Ltd. announced that it plans to set up a wholly owned subsidiary, which
will be with a registered capital of RMB 200 million and be engaged in the
development, producing, sale of light emitting diode (LED) lighting devices.
Shenzhen MTC
Co.,Ltd. Announces Resignation of CFO Nov 11, 2010
Shenzhen MTC
Co.,Ltd. announced the resignation of Mr. Tu Jingqian as Chief Financial
Officer, effective November 9, 2010.
Shenzhen MTC
Co.,Ltd. Announces FY 2010 Net Profit Outlook Oct 21, 2010
Shenzhen MTC
Co.,Ltd. announced that it expects its net profit for fiscal year 2010 to grow
by 30%-50%, compared to that of same period last year (RMB 249,585,833.51). The
Company cited the steady growth of business as the main reason for this
forecast.
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 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Sales |
445.9 |
416.1 |
266.4 |
267.4 |
|
Revenue |
445.9 |
416.1 |
266.4 |
267.4 |
|
Total Revenue |
445.9 |
416.1 |
266.4 |
267.4 |
|
|
|
|
|
|
|
Cost of Revenue |
373.9 |
363.1 |
237.4 |
237.4 |
|
Excise Taxes Payments |
0.2 |
0.4 |
0.3 |
0.0 |
|
Cost of Revenue, Total |
374.1 |
363.5 |
237.6 |
237.4 |
|
Gross Profit |
71.9 |
52.5 |
28.8 |
30.0 |
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
12.6 |
11.4 |
10.2 |
7.4 |
|
Total Selling/General/Administrative Expenses |
12.6 |
11.4 |
10.2 |
7.4 |
|
Interest Expense -
Operating |
0.2 |
0.4 |
0.7 |
0.4 |
|
Interest Expense - Net Operating |
0.2 |
0.4 |
0.7 |
0.4 |
|
Interest Income -
Operating |
-3.8 |
-0.7 |
-0.3 |
-0.1 |
|
Investment Income -
Operating |
1.4 |
0.3 |
1.7 |
1.6 |
|
Interest/Investment Income - Operating |
-2.4 |
-0.4 |
1.4 |
1.5 |
|
Interest Expense (Income) - Net Operating Total |
-2.2 |
0.0 |
2.1 |
1.8 |
|
Impairment-Assets Held for Use |
2.3 |
0.4 |
0.5 |
-0.2 |
|
Unusual Expense (Income) |
2.3 |
0.4 |
0.5 |
-0.2 |
|
Other Operating Expense |
0.7 |
0.6 |
0.6 |
0.5 |
|
Other Operating Expenses, Total |
0.7 |
0.6 |
0.6 |
0.5 |
|
Total Operating Expense |
387.5 |
376.0 |
250.9 |
246.9 |
|
|
|
|
|
|
|
Operating Income |
58.5 |
40.0 |
15.6 |
20.5 |
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.8 |
0.7 |
0.0 |
0.1 |
|
Other, Net |
0.8 |
0.7 |
0.0 |
0.1 |
|
Income Before Tax |
59.2 |
40.7 |
15.6 |
20.6 |
|
|
|
|
|
|
|
Total Income Tax |
8.6 |
4.0 |
1.5 |
1.5 |
|
Income After Tax |
50.7 |
36.7 |
14.1 |
19.1 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.3 |
|
Net Income Before Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Basic EPS Excl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
Diluted Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Diluted EPS Excl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted EPS Incl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.03 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
20.9 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.2 |
0.4 |
0.7 |
0.4 |
|
Depreciation, Supplemental |
1.6 |
1.0 |
0.9 |
0.4 |
|
Total Special Items |
2.3 |
0.5 |
0.5 |
-0.2 |
|
Normalized Income Before Tax |
61.5 |
41.1 |
16.1 |
20.4 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
8.9 |
4.0 |
1.5 |
1.5 |
|
Normalized Income After Tax |
52.6 |
37.1 |
14.5 |
18.9 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
52.6 |
37.1 |
14.5 |
19.2 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
0.0 |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.6 |
|
Research & Development Exp, Supplemental |
1.0 |
0.3 |
0.1 |
0.1 |
|
Normalized EBIT |
58.6 |
40.5 |
18.1 |
22.1 |
|
Normalized EBITDA |
60.3 |
41.7 |
19.0 |
22.5 |
|
Current Tax - Domestic |
8.4 |
4.6 |
1.4 |
1.6 |
|
Current Tax - Total |
8.4 |
4.6 |
1.4 |
1.6 |
|
Deferred Tax - Domestic |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Deferred Tax - Total |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Income Tax - Total |
8.6 |
4.0 |
1.5 |
1.5 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash & Equivalents |
279.5 |
78.1 |
54.8 |
51.9 |
|
Cash and Short Term Investments |
279.5 |
78.1 |
54.8 |
51.9 |
|
Accounts Receivable -
Trade, Gross |
63.6 |
33.3 |
16.9 |
27.4 |
|
Provision for Doubtful
Accounts |
-1.0 |
-0.4 |
-0.2 |
0.0 |
|
Trade Accounts Receivable - Net |
62.6 |
32.9 |
16.7 |
27.4 |
|
Notes Receivable - Short Term |
3.2 |
0.0 |
5.1 |
0.0 |
|
Other Receivables |
7.6 |
5.0 |
0.7 |
0.9 |
|
Total Receivables, Net |
73.3 |
37.9 |
22.5 |
28.4 |
|
Inventories - Finished Goods |
11.4 |
12.1 |
6.9 |
- |
|
Inventories - Work In Progress |
23.6 |
17.3 |
9.9 |
- |
|
Inventories - Raw Materials |
52.2 |
23.8 |
17.3 |
- |
|
Inventories - Other |
0.0 |
0.1 |
0.1 |
53.3 |
|
Total Inventory |
87.2 |
53.3 |
34.2 |
53.3 |
|
Prepaid Expenses |
10.7 |
1.6 |
0.9 |
1.1 |
|
Other Current Assets |
0.0 |
0.5 |
0.0 |
0.0 |
|
Other Current Assets, Total |
0.0 |
0.5 |
0.0 |
0.0 |
|
Total Current Assets |
450.7 |
171.5 |
112.4 |
134.7 |
|
|
|
|
|
|
|
Buildings |
5.8 |
5.6 |
5.6 |
- |
|
Machinery/Equipment |
15.7 |
13.3 |
7.1 |
- |
|
Construction in
Progress |
0.1 |
0.0 |
- |
- |
|
Property/Plant/Equipment - Gross |
21.5 |
18.8 |
12.6 |
- |
|
Accumulated Depreciation |
-4.1 |
-2.4 |
-1.4 |
- |
|
Property/Plant/Equipment - Net |
17.5 |
16.5 |
11.2 |
11.0 |
|
Intangibles, Net |
7.4 |
7.3 |
7.5 |
0.0 |
|
Deferred Charges |
0.1 |
0.2 |
0.3 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
1.6 |
1.3 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
1.7 |
1.6 |
0.4 |
0.6 |
|
Total Assets |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
Accounts Payable |
61.6 |
68.2 |
41.1 |
69.3 |
|
Accrued Expenses |
6.7 |
4.1 |
1.6 |
19.5 |
|
Notes Payable/Short Term Debt |
0.1 |
21.4 |
19.8 |
6.0 |
|
Customer Advances |
2.3 |
2.4 |
1.3 |
1.4 |
|
Income Taxes Payable |
-2.5 |
-4.1 |
-2.2 |
-4.3 |
|
Other Current liabilities, Total |
-0.2 |
-1.8 |
-0.9 |
-2.9 |
|
Total Current Liabilities |
68.2 |
92.0 |
61.6 |
92.0 |
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
0.0 |
2.2 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
2.2 |
|
Total Debt |
0.1 |
21.4 |
19.8 |
8.3 |
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.4 |
0.0 |
- |
- |
|
Deferred Income Tax |
0.4 |
0.0 |
- |
- |
|
Other Long Term Liabilities |
4.7 |
4.4 |
0.0 |
0.0 |
|
Other Liabilities, Total |
4.7 |
4.4 |
0.0 |
0.0 |
|
Total Liabilities |
73.3 |
96.4 |
61.6 |
94.2 |
|
|
|
|
|
|
|
Common Stock |
71.7 |
61.0 |
24.4 |
22.8 |
|
Common Stock |
71.7 |
61.0 |
24.4 |
22.8 |
|
Additional Paid-In Capital |
241.6 |
2.2 |
14.4 |
13.7 |
|
Retained Earnings (Accumulated Deficit) |
90.7 |
37.3 |
31.1 |
15.6 |
|
Translation Adjustment |
- |
- |
0.0 |
-0.2 |
|
Other Equity, Total |
- |
- |
0.0 |
-0.2 |
|
Total Equity |
404.0 |
100.5 |
69.9 |
51.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
708.8 |
624.8 |
249.9 |
249.9 |
|
Total Common Shares Outstanding |
708.8 |
624.8 |
249.9 |
249.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
2,309 |
2,201 |
- |
- |
|
Number of Common Shareholders |
24,005 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.4 |
0.2 |
0.1 |
- |
|
Deferred Revenue - Current |
2.3 |
2.4 |
1.3 |
1.4 |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash Receipts |
427.8 |
421.4 |
279.1 |
254.8 |
|
Cash Payments |
-454.3 |
-393.6 |
-266.8 |
-253.9 |
|
Cash Taxes Paid |
9.5 |
6.1 |
11.1 |
5.7 |
|
Other Operating Cash Flow |
-7.2 |
-5.8 |
-8.2 |
-6.1 |
|
Changes in Working Capital |
-7.2 |
-5.8 |
-8.2 |
-6.1 |
|
Cash from Operating Activities |
-24.3 |
28.2 |
15.1 |
0.5 |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.2 |
-3.4 |
-7.9 |
-2.3 |
|
Capital Expenditures |
-2.2 |
-3.4 |
-7.9 |
-2.3 |
|
Acquisition of Business |
- |
- |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Purchase of Investments |
- |
- |
-0.3 |
0.0 |
|
Other Investing Cash Flow |
-183.1 |
-23.8 |
-3.5 |
0.1 |
|
Other Investing Cash Flow Items, Total |
-183.1 |
-23.8 |
-3.8 |
0.1 |
|
Cash from Investing Activities |
-185.3 |
-27.2 |
-11.7 |
-2.2 |
|
|
|
|
|
|
|
Other Financing Cash Flow |
240.6 |
-6.8 |
-16.8 |
28.4 |
|
Financing Cash Flow Items |
240.6 |
-6.8 |
-16.8 |
28.4 |
|
Total Debt Issued |
4.3 |
37.9 |
44.0 |
39.0 |
|
Total Debt Reduction |
-25.2 |
-31.8 |
-33.3 |
-33.7 |
|
Issuance (Retirement) of Debt, Net |
-20.9 |
6.1 |
10.7 |
5.3 |
|
Cash from Financing Activities |
219.7 |
-0.7 |
-6.1 |
33.6 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
-0.2 |
-1.9 |
-1.8 |
|
Net Change in Cash |
8.8 |
0.1 |
-4.5 |
30.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
51.4 |
50.9 |
54.5 |
19.7 |
|
Net Cash - Ending Balance |
60.2 |
51.0 |
50.0 |
49.8 |
|
Depreciation |
1.6 |
1.0 |
0.9 |
0.4 |
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 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Sales |
445.9 |
416.1 |
266.4 |
267.4 |
|
Total Revenue |
445.9 |
416.1 |
266.4 |
267.4 |
|
|
|
|
|
|
|
Cost of Sales |
373.9 |
363.1 |
237.4 |
237.4 |
|
Business Tax and Surcharges |
0.2 |
0.4 |
0.3 |
0.0 |
|
General & Administrative Expenses |
6.0 |
4.3 |
4.2 |
2.1 |
|
Selling Expense |
6.5 |
7.1 |
6.0 |
5.3 |
|
Interest Expense |
0.2 |
0.4 |
0.7 |
0.4 |
|
Interest Income |
-3.8 |
-0.7 |
-0.3 |
-0.1 |
|
Foreign Exchange Gain/Loss |
1.4 |
0.3 |
1.7 |
1.6 |
|
Commission Fees and Other |
0.1 |
0.1 |
0.1 |
0.1 |
|
Credit Expense |
0.6 |
0.5 |
0.4 |
0.5 |
|
Impairment Loss on Assets |
2.3 |
0.4 |
0.5 |
-0.2 |
|
Total Operating Expense |
387.5 |
376.0 |
250.9 |
246.9 |
|
|
|
|
|
|
|
Gain on Sales of Fixed Asset |
0.0 |
0.0 |
- |
- |
|
Non - Operating Income |
0.8 |
0.7 |
0.1 |
0.2 |
|
Loss on Sales of Fixed Asset |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Non - Operating Expense |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Net Income Before Taxes |
59.2 |
40.7 |
15.6 |
20.6 |
|
|
|
|
|
|
|
Provision for Income Taxes |
8.6 |
4.0 |
1.5 |
1.5 |
|
Net Income After Taxes |
50.7 |
36.7 |
14.1 |
19.1 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.3 |
|
Net Income Before Extra. Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Basic EPS Including ExtraOrdinary Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
Diluted Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
DPS-A Share |
0.03 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
20.9 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
61.5 |
41.1 |
16.1 |
20.4 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
8.9 |
4.0 |
1.5 |
1.5 |
|
Normalized Income After Taxes |
52.6 |
37.1 |
14.5 |
18.9 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
52.6 |
37.1 |
14.5 |
19.2 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Depreciation, Supplemental |
1.6 |
1.0 |
0.9 |
0.4 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
0.0 |
|
Interest Expense, Supplemental |
0.2 |
0.4 |
0.7 |
0.4 |
|
Research & Development Exp, Supplemental |
1.0 |
0.3 |
0.1 |
0.1 |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.6 |
|
Current Tax |
8.4 |
4.6 |
1.4 |
1.6 |
|
Current Tax - Total |
8.4 |
4.6 |
1.4 |
1.6 |
|
Deferred Tax |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Deferred Tax - Total |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Income Tax - Total |
8.6 |
4.0 |
1.5 |
1.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash and Cash Equivalent |
279.5 |
78.1 |
54.8 |
51.9 |
|
Notes Receivable |
3.2 |
0.0 |
5.1 |
0.0 |
|
Accounts Receivable, Gross |
63.6 |
33.3 |
16.9 |
27.4 |
|
Provision for Doubtful Account |
-1.0 |
-0.4 |
-0.2 |
0.0 |
|
Payment in Advance |
10.7 |
1.6 |
0.9 |
1.1 |
|
Interest Receivable |
2.4 |
0.0 |
- |
- |
|
Other Receivables |
5.2 |
5.0 |
0.7 |
0.9 |
|
Other Current Assets |
0.0 |
0.5 |
0.0 |
0.0 |
|
Raw Material |
52.2 |
23.8 |
17.3 |
- |
|
Semi-finished Products |
14.8 |
6.4 |
4.2 |
- |
|
Work-in-Process |
8.8 |
10.9 |
5.7 |
- |
|
Finished Products/Goods in Store |
11.4 |
12.1 |
6.9 |
- |
|
Low Value Consumable |
- |
- |
0.1 |
- |
|
Subcontracted Material |
0.0 |
0.1 |
0.0 |
- |
|
Inventory, Net |
- |
- |
- |
53.3 |
|
Total Current Assets |
450.7 |
171.5 |
112.4 |
134.7 |
|
|
|
|
|
|
|
Buildings & Structures |
5.8 |
5.6 |
5.6 |
- |
|
Machinery and Equipment |
13.6 |
11.8 |
5.9 |
- |
|
Transportation Equipment |
0.3 |
0.2 |
0.2 |
- |
|
Electrical Equipment |
1.0 |
0.7 |
0.5 |
- |
|
Other Equipment |
0.8 |
0.6 |
0.4 |
- |
|
Accumulated Depreciation |
-4.1 |
-2.4 |
-1.4 |
- |
|
Fixed Assets, Net |
- |
- |
- |
11.0 |
|
Intangible Assets, Net |
7.4 |
7.3 |
7.5 |
0.0 |
|
Construction in Progress |
0.1 |
0.0 |
- |
- |
|
Long Term Prepaid Expense |
0.1 |
0.2 |
0.3 |
0.4 |
|
Deferred Tax Assets |
1.6 |
1.3 |
0.1 |
0.1 |
|
Total Assets |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
Short Term Borrowing |
0.0 |
20.7 |
19.8 |
6.0 |
|
Notes Payable |
0.1 |
0.7 |
0.0 |
0.0 |
|
Accounts Payable |
61.6 |
68.2 |
41.1 |
69.3 |
|
Customer Advance |
2.3 |
2.4 |
1.3 |
1.4 |
|
Accrued Payroll |
1.8 |
2.0 |
0.9 |
1.1 |
|
Tax Payable |
-2.5 |
-4.1 |
-2.2 |
-4.3 |
|
Other Creditors |
4.9 |
2.0 |
0.6 |
18.5 |
|
Total Current Liabilities |
68.2 |
92.0 |
61.6 |
92.0 |
|
|
|
|
|
|
|
Long Term Borrowing |
- |
- |
0.0 |
2.2 |
|
Total Long Term Debt |
- |
- |
0.0 |
2.2 |
|
|
|
|
|
|
|
Estimated Liabilities |
0.6 |
0.4 |
0.0 |
0.0 |
|
Deferred Income Tax Liabilities |
0.4 |
0.0 |
- |
- |
|
Other Non-current Liabilities |
4.1 |
4.0 |
- |
- |
|
Total Liabilities |
73.3 |
96.4 |
61.6 |
94.2 |
|
|
|
|
|
|
|
Capital Stock |
71.7 |
61.0 |
24.4 |
22.8 |
|
Paid in Capital |
241.6 |
2.2 |
14.4 |
13.7 |
|
Surplus Reserve |
12.3 |
6.8 |
3.0 |
1.7 |
|
Undistributed Profit |
78.4 |
30.5 |
28.0 |
13.9 |
|
Translation Adjustments |
- |
- |
0.0 |
-0.2 |
|
Total Equity |
404.0 |
100.5 |
69.9 |
51.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
S/O-A Share |
708.8 |
624.8 |
249.9 |
249.9 |
|
Total Common Shares Outstanding |
708.8 |
624.8 |
249.9 |
249.9 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accumulated Intangible Amort, Suppl. |
0.4 |
0.2 |
0.1 |
- |
|
Customer Advance |
2.3 |
2.4 |
1.3 |
1.4 |
|
Full-Time Employees |
2,309 |
2,201 |
- |
- |
|
Number of Common Shareholders |
24,005 |
- |
- |
- |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash from Sale of Goods & Services |
427.8 |
421.4 |
279.1 |
254.8 |
|
Cash Paid for Goods and Services |
-454.3 |
-393.6 |
-266.8 |
-253.9 |
|
Refund of Taxes |
18.9 |
10.0 |
15.0 |
8.3 |
|
Other Cash from Operating Activities |
0.6 |
0.2 |
0.1 |
0.2 |
|
All Taxes Paid |
-9.5 |
-3.9 |
-3.9 |
-2.5 |
|
Other Cash Paid for Operating Activities |
-7.8 |
-6.0 |
-8.4 |
-6.3 |
|
Cash from Operating Activities |
-24.3 |
28.2 |
15.1 |
0.5 |
|
|
|
|
|
|
|
Sale of FA/Intangibles/Other Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Cash from Investing Activities |
28.0 |
4.4 |
0.3 |
0.1 |
|
Capital Expenditure |
-2.2 |
-3.4 |
-7.9 |
-2.3 |
|
Cash Paid for Acquisition of Subsidiary |
- |
- |
0.0 |
0.0 |
|
Other Cash Paid for Investing Activities |
-211.1 |
-28.2 |
-3.8 |
0.0 |
|
Cash Paid for Purchase of Investments |
- |
- |
-0.3 |
0.0 |
|
Cash from Investing Activities |
-185.3 |
-27.2 |
-11.7 |
-2.2 |
|
|
|
|
|
|
|
Cash from Investors |
248.2 |
0.0 |
0.0 |
16.5 |
|
Cash from Borrowings |
4.3 |
37.9 |
44.0 |
39.0 |
|
Other Cash from Financing Activities |
0.0 |
0.2 |
0.0 |
15.4 |
|
Repayment of Borrowings |
-25.2 |
-31.8 |
-33.3 |
-33.7 |
|
Cash Paid for Dividend and Interest |
-0.2 |
-5.9 |
-0.7 |
-0.4 |
|
Other Cash Paid for Financing Activities |
-7.4 |
-1.0 |
-16.2 |
-3.2 |
|
Cash from Financing Activities |
219.7 |
-0.7 |
-6.1 |
33.6 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
-0.2 |
-1.9 |
-1.8 |
|
Net Change in Cash |
8.8 |
0.1 |
-4.5 |
30.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
51.4 |
50.9 |
54.5 |
19.7 |
|
Net Cash - Ending Balance |
60.2 |
51.0 |
50.0 |
49.8 |
|
Depreciation |
1.6 |
1.0 |
0.9 |
0.4 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.1 |
0.0 |
Financial Health
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Sales |
445.9 |
416.1 |
266.4 |
267.4 |
|
Revenue |
445.9 |
416.1 |
266.4 |
267.4 |
|
Total Revenue |
445.9 |
416.1 |
266.4 |
267.4 |
|
|
|
|
|
|
|
Cost of Revenue |
373.9 |
363.1 |
237.4 |
237.4 |
|
Excise Taxes Payments |
0.2 |
0.4 |
0.3 |
0.0 |
|
Cost of Revenue, Total |
374.1 |
363.5 |
237.6 |
237.4 |
|
Gross Profit |
71.9 |
52.5 |
28.8 |
30.0 |
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
12.6 |
11.4 |
10.2 |
7.4 |
|
Total Selling/General/Administrative Expenses |
12.6 |
11.4 |
10.2 |
7.4 |
|
Interest Expense -
Operating |
0.2 |
0.4 |
0.7 |
0.4 |
|
Interest Expense - Net Operating |
0.2 |
0.4 |
0.7 |
0.4 |
|
Interest Income -
Operating |
-3.8 |
-0.7 |
-0.3 |
-0.1 |
|
Investment Income -
Operating |
1.4 |
0.3 |
1.7 |
1.6 |
|
Interest/Investment Income - Operating |
-2.4 |
-0.4 |
1.4 |
1.5 |
|
Interest Expense (Income) - Net Operating Total |
-2.2 |
0.0 |
2.1 |
1.8 |
|
Impairment-Assets Held for Use |
2.3 |
0.4 |
0.5 |
-0.2 |
|
Unusual Expense (Income) |
2.3 |
0.4 |
0.5 |
-0.2 |
|
Other Operating Expense |
0.7 |
0.6 |
0.6 |
0.5 |
|
Other Operating Expenses, Total |
0.7 |
0.6 |
0.6 |
0.5 |
|
Total Operating Expense |
387.5 |
376.0 |
250.9 |
246.9 |
|
|
|
|
|
|
|
Operating Income |
58.5 |
40.0 |
15.6 |
20.5 |
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.8 |
0.7 |
0.0 |
0.1 |
|
Other, Net |
0.8 |
0.7 |
0.0 |
0.1 |
|
Income Before Tax |
59.2 |
40.7 |
15.6 |
20.6 |
|
|
|
|
|
|
|
Total Income Tax |
8.6 |
4.0 |
1.5 |
1.5 |
|
Income After Tax |
50.7 |
36.7 |
14.1 |
19.1 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.3 |
|
Net Income Before Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
50.7 |
36.7 |
14.1 |
19.4 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Basic EPS Excl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Net Income |
50.7 |
36.7 |
14.1 |
19.4 |
|
Diluted Weighted Average Shares |
666.8 |
624.8 |
624.8 |
601.5 |
|
Diluted EPS Excl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted EPS Incl Extraord Items |
0.08 |
0.06 |
0.02 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.03 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
20.9 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.2 |
0.4 |
0.7 |
0.4 |
|
Depreciation, Supplemental |
1.6 |
1.0 |
0.9 |
0.4 |
|
Total Special Items |
2.3 |
0.5 |
0.5 |
-0.2 |
|
Normalized Income Before Tax |
61.5 |
41.1 |
16.1 |
20.4 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
8.9 |
4.0 |
1.5 |
1.5 |
|
Normalized Income After Tax |
52.6 |
37.1 |
14.5 |
18.9 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
52.6 |
37.1 |
14.5 |
19.2 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.02 |
0.03 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.1 |
0.0 |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.6 |
|
Research & Development Exp, Supplemental |
1.0 |
0.3 |
0.1 |
0.1 |
|
Normalized EBIT |
58.6 |
40.5 |
18.1 |
22.1 |
|
Normalized EBITDA |
60.3 |
41.7 |
19.0 |
22.5 |
|
Current Tax - Domestic |
8.4 |
4.6 |
1.4 |
1.6 |
|
Current Tax - Total |
8.4 |
4.6 |
1.4 |
1.6 |
|
Deferred Tax - Domestic |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Deferred Tax - Total |
0.2 |
-0.7 |
0.1 |
-0.1 |
|
Income Tax - Total |
8.6 |
4.0 |
1.5 |
1.5 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
9 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Special |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.501206 |
6.583076 |
6.749901 |
6.770018 |
6.824215 |
|
|
|
|
|
|
|
|
Net Sales |
137.7 |
102.0 |
360.9 |
122.1 |
97.2 |
|
Revenue |
137.7 |
102.0 |
360.9 |
122.1 |
97.2 |
|
Total Revenue |
137.7 |
102.0 |
360.9 |
122.1 |
97.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
120.7 |
86.8 |
301.6 |
101.6 |
79.6 |
|
Excise Taxes Payments |
0.0 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Cost of Revenue, Total |
120.7 |
87.1 |
301.7 |
101.7 |
79.7 |
|
Gross Profit |
17.0 |
14.9 |
59.1 |
20.4 |
17.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4.7 |
3.4 |
10.4 |
3.2 |
2.5 |
|
Total Selling/General/Administrative Expenses |
4.7 |
3.4 |
10.4 |
3.2 |
2.5 |
|
Interest Expense (Income) - Net Operating |
-1.8 |
-0.2 |
-1.2 |
0.8 |
0.4 |
|
Interest Expense (Income) - Net Operating Total |
-1.8 |
-0.2 |
-1.2 |
0.8 |
0.4 |
|
Impairment-Assets Held for Use |
-0.4 |
0.0 |
2.3 |
- |
-0.3 |
|
Unusual Expense (Income) |
-0.4 |
0.0 |
2.3 |
- |
-0.3 |
|
Total Operating Expense |
123.2 |
90.2 |
313.2 |
105.6 |
82.2 |
|
|
|
|
|
|
|
|
Operating Income |
14.5 |
11.7 |
47.6 |
16.4 |
14.9 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
0.6 |
0.2 |
0.5 |
0.4 |
0.4 |
|
Other, Net |
0.6 |
0.2 |
0.5 |
0.4 |
0.4 |
|
Income Before Tax |
15.1 |
11.9 |
48.1 |
16.9 |
15.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
2.1 |
1.8 |
6.9 |
2.5 |
2.8 |
|
Income After Tax |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
Net Income |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
708.8 |
708.8 |
708.8 |
708.8 |
624.8 |
|
Basic EPS Excl Extraord Items |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Diluted Net Income |
13.0 |
10.1 |
41.2 |
14.3 |
12.5 |
|
Diluted Weighted Average Shares |
708.8 |
708.8 |
708.8 |
708.8 |
624.8 |
|
Diluted EPS Excl Extraord Items |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.03 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
21.0 |
0.0 |
0.0 |
|
Total Special Items |
-0.4 |
0.0 |
2.3 |
- |
-0.3 |
|
Normalized Income Before Tax |
14.7 |
11.9 |
50.4 |
16.9 |
15.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.1 |
0.0 |
0.3 |
- |
-0.1 |
|
Inc Tax Ex Impact of Sp Items |
2.1 |
1.8 |
7.2 |
2.5 |
2.8 |
|
Normalized Income After Tax |
12.6 |
10.1 |
43.2 |
14.3 |
12.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
12.6 |
10.1 |
43.2 |
14.3 |
12.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.02 |
0.01 |
0.06 |
0.02 |
0.02 |
|
Normalized EBIT |
12.3 |
11.5 |
48.8 |
17.2 |
15.0 |
|
Normalized EBITDA |
12.3 |
11.5 |
48.8 |
17.2 |
15.0 |
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 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.5897 |
6.827 |
6.823 |
7.3041 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash & Equivalents |
279.5 |
78.1 |
54.8 |
51.9 |
|
Cash and Short Term Investments |
279.5 |
78.1 |
54.8 |
51.9 |
|
Accounts Receivable -
Trade, Gross |
63.6 |
33.3 |
16.9 |
27.4 |
|
Provision for Doubtful
Accounts |
-1.0 |
-0.4 |
-0.2 |
0.0 |
|
Trade Accounts Receivable - Net |
62.6 |
32.9 |
16.7 |
27.4 |
|
Notes Receivable - Short Term |
3.2 |
0.0 |
5.1 |
0.0 |
|
Other Receivables |
7.6 |
5.0 |
0.7 |
0.9 |
|
Total Receivables, Net |
73.3 |
37.9 |
22.5 |
28.4 |
|
Inventories - Finished Goods |
11.4 |
12.1 |
6.9 |
- |
|
Inventories - Work In Progress |
23.6 |
17.3 |
9.9 |
- |
|
Inventories - Raw Materials |
52.2 |
23.8 |
17.3 |
- |
|
Inventories - Other |
0.0 |
0.1 |
0.1 |
53.3 |
|
Total Inventory |
87.2 |
53.3 |
34.2 |
53.3 |
|
Prepaid Expenses |
10.7 |
1.6 |
0.9 |
1.1 |
|
Other Current Assets |
0.0 |
0.5 |
0.0 |
0.0 |
|
Other Current Assets, Total |
0.0 |
0.5 |
0.0 |
0.0 |
|
Total Current Assets |
450.7 |
171.5 |
112.4 |
134.7 |
|
|
|
|
|
|
|
Buildings |
5.8 |
5.6 |
5.6 |
- |
|
Machinery/Equipment |
15.7 |
13.3 |
7.1 |
- |
|
Construction in
Progress |
0.1 |
0.0 |
- |
- |
|
Property/Plant/Equipment - Gross |
21.5 |
18.8 |
12.6 |
- |
|
Accumulated Depreciation |
-4.1 |
-2.4 |
-1.4 |
- |
|
Property/Plant/Equipment - Net |
17.5 |
16.5 |
11.2 |
11.0 |
|
Intangibles, Net |
7.4 |
7.3 |
7.5 |
0.0 |
|
Deferred Charges |
0.1 |
0.2 |
0.3 |
0.4 |
|
Deferred Income Tax - Long Term Asset |
1.6 |
1.3 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
1.7 |
1.6 |
0.4 |
0.6 |
|
Total Assets |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
Accounts Payable |
61.6 |
68.2 |
41.1 |
69.3 |
|
Accrued Expenses |
6.7 |
4.1 |
1.6 |
19.5 |
|
Notes Payable/Short Term Debt |
0.1 |
21.4 |
19.8 |
6.0 |
|
Customer Advances |
2.3 |
2.4 |
1.3 |
1.4 |
|
Income Taxes Payable |
-2.5 |
-4.1 |
-2.2 |
-4.3 |
|
Other Current liabilities, Total |
-0.2 |
-1.8 |
-0.9 |
-2.9 |
|
Total Current Liabilities |
68.2 |
92.0 |
61.6 |
92.0 |
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
0.0 |
2.2 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
2.2 |
|
Total Debt |
0.1 |
21.4 |
19.8 |
8.3 |
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.4 |
0.0 |
- |
- |
|
Deferred Income Tax |
0.4 |
0.0 |
- |
- |
|
Other Long Term Liabilities |
4.7 |
4.4 |
0.0 |
0.0 |
|
Other Liabilities, Total |
4.7 |
4.4 |
0.0 |
0.0 |
|
Total Liabilities |
73.3 |
96.4 |
61.6 |
94.2 |
|
|
|
|
|
|
|
Common Stock |
71.7 |
61.0 |
24.4 |
22.8 |
|
Common Stock |
71.7 |
61.0 |
24.4 |
22.8 |
|
Additional Paid-In Capital |
241.6 |
2.2 |
14.4 |
13.7 |
|
Retained Earnings (Accumulated Deficit) |
90.7 |
37.3 |
31.1 |
15.6 |
|
Translation Adjustment |
- |
- |
0.0 |
-0.2 |
|
Other Equity, Total |
- |
- |
0.0 |
-0.2 |
|
Total Equity |
404.0 |
100.5 |
69.9 |
51.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
477.3 |
196.8 |
131.4 |
146.2 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
708.8 |
624.8 |
249.9 |
249.9 |
|
Total Common Shares Outstanding |
708.8 |
624.8 |
249.9 |
249.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
2,309 |
2,201 |
- |
- |
|
Number of Common Shareholders |
24,005 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.4 |
0.2 |
0.1 |
- |
|
eferred Revenue - Current |
2.3 |
2.4 |
1.3 |
1.4 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.464 |
6.5485 |
6.5897 |
6.6912 |
6.7814 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
378.5 |
316.0 |
279.5 |
256.3 |
282.9 |
|
Cash and Short Term Investments |
378.5 |
316.0 |
279.5 |
256.3 |
282.9 |
|
Trade Accounts Receivable - Net |
65.3 |
51.0 |
62.6 |
62.9 |
36.0 |
|
Notes Receivable - Short Term |
9.5 |
7.4 |
3.2 |
3.8 |
0.2 |
|
Other Receivables |
5.3 |
7.6 |
7.6 |
1.5 |
1.6 |
|
Total Receivables, Net |
80.1 |
66.0 |
73.3 |
68.3 |
37.8 |
|
Total Inventory |
101.6 |
92.2 |
87.2 |
79.9 |
52.1 |
|
Prepaid Expenses |
24.8 |
20.9 |
10.7 |
19.0 |
15.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Current Assets, Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
585.0 |
495.1 |
450.7 |
423.4 |
387.8 |
|
|
|
|
|
|
|
|
Construction in
Progress |
0.5 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Property/Plant/Equipment - Gross |
0.5 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Property/Plant/Equipment - Net |
19.2 |
17.3 |
17.5 |
16.6 |
16.6 |
|
Intangibles, Net |
7.5 |
7.5 |
7.4 |
7.4 |
7.3 |
|
LT Investments - Other |
- |
4.6 |
- |
- |
- |
|
Long Term Investments |
- |
4.6 |
- |
- |
- |
|
Deferred Charges |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Deferred Income Tax - Long Term Asset |
1.4 |
1.6 |
1.6 |
0.2 |
0.2 |
|
Other Long Term Assets, Total |
1.6 |
1.6 |
1.7 |
0.3 |
0.3 |
|
Total Assets |
613.3 |
526.1 |
477.3 |
447.7 |
412.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
65.6 |
51.7 |
61.6 |
57.3 |
44.0 |
|
Accrued Expenses |
5.5 |
5.8 |
6.7 |
5.1 |
4.5 |
|
Notes Payable/Short Term Debt |
102.8 |
47.0 |
0.1 |
0.2 |
0.3 |
|
Dividends Payable |
21.9 |
- |
- |
- |
- |
|
Customer Advances |
2.5 |
2.6 |
2.3 |
1.7 |
2.9 |
|
Income Taxes Payable |
-3.3 |
-2.8 |
-2.5 |
0.1 |
-3.4 |
|
Other Current liabilities, Total |
21.1 |
-0.2 |
-0.2 |
1.8 |
-0.5 |
|
Total Current Liabilities |
195.0 |
104.3 |
68.2 |
64.5 |
48.3 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
102.8 |
47.0 |
0.1 |
0.2 |
0.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.3 |
0.4 |
0.4 |
- |
- |
|
Deferred Income Tax |
0.3 |
0.4 |
0.4 |
- |
- |
|
Other Long Term Liabilities |
4.8 |
4.7 |
4.7 |
0.5 |
0.4 |
|
Other Liabilities, Total |
4.8 |
4.7 |
4.7 |
0.5 |
0.4 |
|
Total Liabilities |
200.1 |
109.4 |
73.3 |
65.0 |
48.7 |
|
|
|
|
|
|
|
|
Common Stock |
73.1 |
72.2 |
71.7 |
70.6 |
69.7 |
|
Common Stock |
73.1 |
72.2 |
71.7 |
70.6 |
69.7 |
|
Additional Paid-In Capital |
246.3 |
243.1 |
241.6 |
237.3 |
234.1 |
|
Retained Earnings (Accumulated Deficit) |
93.8 |
101.4 |
90.7 |
74.8 |
59.5 |
|
Total Equity |
413.2 |
416.7 |
404.0 |
382.7 |
363.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
613.3 |
526.1 |
477.3 |
447.7 |
412.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
708.8 |
708.8 |
708.8 |
708.8 |
624.8 |
|
Total Common Shares Outstanding |
708.8 |
708.8 |
708.8 |
708.8 |
624.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Common Shareholders |
24,584 |
24,482 |
24,005 |
27,380 |
27,767 |
|
Accumulated Intangible Amort, Suppl. |
0.5 |
- |
0.4 |
- |
0.3 |
|
Deferred Revenue - Current |
2.5 |
2.6 |
2.3 |
1.7 |
2.9 |
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 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
Shenzhen
Pengcheng Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash Receipts |
427.8 |
421.4 |
279.1 |
254.8 |
|
Cash Payments |
-454.3 |
-393.6 |
-266.8 |
-253.9 |
|
Cash Taxes Paid |
9.5 |
6.1 |
11.1 |
5.7 |
|
Other Operating Cash Flow |
-7.2 |
-5.8 |
-8.2 |
-6.1 |
|
Changes in Working Capital |
-7.2 |
-5.8 |
-8.2 |
-6.1 |
|
Cash from Operating Activities |
-24.3 |
28.2 |
15.1 |
0.5 |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.2 |
-3.4 |
-7.9 |
-2.3 |
|
Capital Expenditures |
-2.2 |
-3.4 |
-7.9 |
-2.3 |
|
Acquisition of Business |
- |
- |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Purchase of Investments |
- |
- |
-0.3 |
0.0 |
|
Other Investing Cash Flow |
-183.1 |
-23.8 |
-3.5 |
0.1 |
|
Other Investing Cash Flow Items, Total |
-183.1 |
-23.8 |
-3.8 |
0.1 |
|
Cash from Investing Activities |
-185.3 |
-27.2 |
-11.7 |
-2.2 |
|
|
|
|
|
|
|
Other Financing Cash Flow |
240.6 |
-6.8 |
-16.8 |
28.4 |
|
Financing Cash Flow Items |
240.6 |
-6.8 |
-16.8 |
28.4 |
|
Total Debt Issued |
4.3 |
37.9 |
44.0 |
39.0 |
|
Total Debt Reduction |
-25.2 |
-31.8 |
-33.3 |
-33.7 |
|
Issuance (Retirement) of Debt, Net |
-20.9 |
6.1 |
10.7 |
5.3 |
|
Cash from Financing Activities |
219.7 |
-0.7 |
-6.1 |
33.6 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
-0.2 |
-1.9 |
-1.8 |
|
Net Change in Cash |
8.8 |
0.1 |
-4.5 |
30.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
51.4 |
50.9 |
54.5 |
19.7 |
|
Net Cash - Ending Balance |
60.2 |
51.0 |
50.0 |
49.8 |
|
Depreciation |
1.6 |
1.0 |
0.9 |
0.4 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.541904 |
6.583076 |
6.768989 |
6.807123 |
6.825839 |
|
|
|
|
|
|
|
|
Cash Receipts |
236.5 |
111.2 |
427.8 |
277.8 |
183.0 |
|
Cash Payments |
-244.4 |
-122.0 |
-454.3 |
-324.9 |
-201.7 |
|
Cash Taxes Paid |
4.3 |
3.9 |
9.5 |
12.0 |
8.6 |
|
Other Operating Cash Flow |
-3.8 |
3.4 |
-7.2 |
-8.6 |
-5.0 |
|
Changes in Working Capital |
-3.8 |
3.4 |
-7.2 |
-8.6 |
-5.0 |
|
Cash from Operating Activities |
-7.3 |
-3.5 |
-24.3 |
-43.6 |
-15.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-4.6 |
-0.5 |
-2.2 |
-1.3 |
-0.8 |
|
Capital Expenditures |
-4.6 |
-0.5 |
-2.2 |
-1.3 |
-0.8 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
-112.0 |
-39.0 |
-183.1 |
27.4 |
27.1 |
|
Other Investing Cash Flow Items, Total |
-112.0 |
-39.0 |
-183.1 |
27.4 |
27.1 |
|
Cash from Investing Activities |
-116.6 |
-39.5 |
-185.3 |
26.1 |
26.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.5 |
-0.5 |
240.6 |
239.5 |
239.3 |
|
Financing Cash Flow Items |
-1.5 |
-0.5 |
240.6 |
239.5 |
239.3 |
|
Total Debt Issued |
103.3 |
47.7 |
4.3 |
4.3 |
4.3 |
|
Total Debt Reduction |
-1.7 |
-1.1 |
-25.2 |
-25.1 |
-25.0 |
|
Issuance (Retirement) of Debt, Net |
101.6 |
46.7 |
-20.9 |
-20.8 |
-20.7 |
|
Cash from Financing Activities |
100.1 |
46.2 |
219.7 |
218.7 |
218.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.5 |
-0.6 |
-1.4 |
-1.2 |
-0.4 |
|
Net Change in Cash |
-24.3 |
2.5 |
8.8 |
200.0 |
229.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
62.3 |
61.9 |
51.4 |
51.1 |
51.0 |
|
Net Cash - Ending Balance |
38.0 |
64.4 |
60.2 |
251.1 |
280.3 |
|
Depreciation |
0.9 |
- |
1.6 |
- |
0.8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.47 |
|
UK Pound |
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
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.