MIRA
INFORM REPORT
|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANDONG RIKE CHEMICAL CO LTD |
|
|
|
|
Registered Office : |
Changle County Economical Development Zo, Weifang, 262400 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.12.2003 |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
Subject is engaged in the research, development,
production and distribution of polyvinyl chloride (PVC) plastic modifier
products. |
|
|
|
|
No. of Employees : |
397 |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
Shandong Rike Chemical Co Ltd
Changle County Economical Development Zo
Weifang, 262400
China
Tel: 86-536-6283716
Fax: 86-536-6283716
Web www.rikechem.com
Synthesis
Employees: 397
Company Type: Public Independent
Traded: Shenzhen
Stock Exchange: 300214
Incorporation Date:
26-Dec-2003
Auditor: Shandong Tian Hengxin Accounting Office
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Chinese
Renminbi
Annual Sales: 152.7
1
Net Income: 15.7
Total Assets: 198.3
2
Market Value: 369.2 (20-Jul-2012)
Business Description
Shandong Rike Chemical Co., Ltd. is principally engaged in the research, development, production and distribution of polyvinyl chloride (PVC) plastic modifier products. The Company primarily provides acrylic additive (ACR) products, acrylic-methyl methacrylate-butadiene (AMB) products and acrylic chlorinated polyethylene modifier (AMB) products, among others. The Company's products are mainly used in PVC products. The Company distributes its products in domestic markets and to overseas markets. For the six months ended 30 June 2011, Shandong Rike Chemical Co., Ltd.'s total revenues increased 41% to RMB481.4M. Net income for the period increased 23% to RMB49.9M. Revenues reflect the favorable business environment. Net income was partially offset by the increased selling expenses, general and administrative expenses, financial expense, as well as increased non-operating expense.
Industry
Industry Chemicals - Plastics and Rubber
ANZSIC 2006: 1821 - Synthetic
Resin and Synthetic Rubber Manufacturing
NACE 2002: 2416 - Manufacture
of plastics in primary forms
NAICS 2002: 325211 - Plastics
Material and Resin Manufacturing
UK SIC 2003: 2416 - Manufacture
of plastics in primary forms
US SIC 1987: 2821 - Plastics
Materials, Synthetic Resins, and Nonvulcanizable Elastomers
Key Executives
|
Name |
Title |
|
Dongsheng Zhao |
General Manager, Director |
|
Xiufeng Yang |
Chief Financial Officer, Director |
|
Zhengkui Yang |
Secretary of the Board, Deputy General Manager |
|
Jianbo Hao |
Deputy General Manager |
|
Dongri Zhao |
Chairman of the Board |
News
|
Title |
Date |
|
2011 annual report: Shandong Rike Chemical (300214.SZ) |
5-Apr-2012 |
|
Shandong Rike to Put additional CNY114mn
in ACM Project |
13-Oct-2011 |
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = CNY 6.46438
2 - Balance Sheet Item Exchange Rate: USD 1 = CNY 6.294
Corporate Overview
Location
Changle County Economical Development Zo
Weifang, 262400
China
Tel: 86-536-6283716
Fax: 86-536-6283716
Web: www.rikechem.com
Quote Symbol - Exchange
300214 - Shenzhen
Stock Exchange
Sales CNY(mil): 987.3
Assets CNY(mil): 1,248.0
Employees: 397
Fiscal Year End: 31-Dec-2011
Industry: Chemicals
- Plastics and Rubber
Incorporation Date: 26-Dec-2003
Company Type: Public
Independent
Quoted Status: Quoted
Secretary of the Board,
Deputy General Manager:Zhengkui Yang
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1821 - Synthetic Resin and Synthetic Rubber Manufacturing
NACE 2002 Codes:
2416 - Manufacture of plastics in primary forms
NAICS 2002 Codes:
325211 - Plastics Material and Resin Manufacturing
US SIC 1987:
2821 - Plastics Materials, Synthetic Resins, and Nonvulcanizable
Elastomers
UK SIC 2003:
2416 - Manufacture of plastics in primary forms
Business
Description
Shandong Rike Chemical Co., Ltd. is principally engaged in the research, development, production and distribution of polyvinyl chloride (PVC) plastic modifier products. The Company primarily provides acrylic additive (ACR) products, acrylic-methyl methacrylate-butadiene (AMB) products and acrylic chlorinated polyethylene modifier (AMB) products, among others. The Company's products are mainly used in PVC products. The Company distributes its products in domestic markets and to overseas markets. For the six months ended 30 June 2011, Shandong Rike Chemical Co., Ltd.'s total revenues increased 41% to RMB481.4M. Net income for the period increased 23% to RMB49.9M. Revenues reflect the favorable business environment. Net income was partially offset by the increased selling expenses, general and administrative expenses, financial expense, as well as increased non-operating expense.
More Business
Descriptions
The company was established in December 2003 in Shan Dong.It was registered as a Others Limited company.The Company belongs to the Small and Heavy industry specialized in Chemical Reagent and Aid Dose Manufacturing.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Executive report
|
Board
of Directors |
|
|
|
|
||||||
|
Chairman of the Board |
Chairman |
|
||||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Deputy General Manager, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Chief Financial Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
General Manager, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Executives |
|
|
|
|
||||||
|
General Manager, Director |
Division Head Executive |
|
||||||
|
|||||||||
|
Secretary of the Board, Deputy General
Manager |
Company Secretary |
|
|
|||||
|
|||||||||
|
Chief Financial Officer, Director |
Finance Executive |
|
|
|||||
|
|||||||||
|
Deputy General Manager |
Other |
|
|
|||||
|
|||||||||
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Sales |
152.7 |
115.8 |
70.4 |
58.3 |
|
Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
Total Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
|
|
|
|
|
|
Cost of Revenue |
122.9 |
92.7 |
55.6 |
49.5 |
|
Excise Taxes Payments |
0.3 |
0.3 |
0.2 |
0.1 |
|
Cost of Revenue, Total |
123.2 |
93.0 |
55.7 |
49.6 |
|
Gross Profit |
29.5 |
22.8 |
14.7 |
8.7 |
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
10.5 |
7.5 |
4.9 |
4.0 |
|
Total Selling/General/Administrative Expenses |
10.5 |
7.5 |
4.9 |
4.0 |
|
Interest Expense -
Operating |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Expense - Net Operating |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Income -
Operating |
-0.3 |
0.0 |
-0.2 |
0.0 |
|
Investment Income -
Operating |
0.2 |
0.1 |
-0.1 |
0.1 |
|
Interest/Investment Income - Operating |
-0.1 |
0.1 |
-0.2 |
0.1 |
|
Interest Expense (Income) - Net Operating Total |
1.1 |
1.1 |
0.4 |
0.9 |
|
Impairment-Assets Held for Use |
0.5 |
0.2 |
0.1 |
0.1 |
|
Unusual Expense (Income) |
0.5 |
0.2 |
0.1 |
0.1 |
|
Other Operating Expense |
0.2 |
0.1 |
0.1 |
0.1 |
|
Other Operating Expenses, Total |
0.2 |
0.1 |
0.1 |
0.1 |
|
Total Operating Expense |
135.4 |
102.0 |
61.2 |
54.8 |
|
|
|
|
|
|
|
Operating Income |
17.3 |
13.8 |
9.2 |
3.6 |
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.0 |
- |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.8 |
0.3 |
0.0 |
0.1 |
|
Other, Net |
0.8 |
0.3 |
0.0 |
0.1 |
|
Income Before Tax |
18.1 |
14.2 |
9.2 |
3.7 |
|
|
|
|
|
|
|
Total Income Tax |
2.5 |
1.9 |
1.3 |
0.4 |
|
Income After Tax |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
3.1 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
1.2 |
1.0 |
0.7 |
0.9 |
|
Depreciation, Supplemental |
1.6 |
1.1 |
0.8 |
0.7 |
|
Total Special Items |
0.5 |
0.2 |
0.1 |
0.1 |
|
Normalized Income Before Tax |
18.6 |
14.4 |
9.3 |
3.8 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2.5 |
1.9 |
1.3 |
0.4 |
|
Normalized Income After Tax |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Amort of Intangibles, Supplemental |
0.4 |
0.3 |
0.3 |
0.2 |
|
Research & Development Exp, Supplemental |
2.2 |
1.9 |
0.9 |
0.9 |
|
Normalized EBIT |
18.9 |
15.2 |
9.7 |
4.6 |
|
Normalized EBITDA |
20.9 |
16.6 |
10.8 |
5.5 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Income Tax - Total |
2.5 |
1.9 |
1.3 |
0.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Shandong Tian Hengxin
Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash & Equivalents |
89.1 |
5.9 |
8.5 |
7.7 |
|
Cash and Short Term Investments |
89.1 |
5.9 |
8.5 |
7.7 |
|
Accounts Receivable -
Trade, Gross |
20.7 |
10.2 |
6.8 |
6.7 |
|
Provision for Doubtful
Accounts |
-1.4 |
-0.8 |
-0.6 |
-0.5 |
|
Trade Accounts Receivable - Net |
19.3 |
9.4 |
6.2 |
6.2 |
|
Notes Receivable - Short Term |
14.4 |
7.4 |
3.3 |
1.6 |
|
Other Receivables |
0.5 |
0.2 |
0.1 |
0.1 |
|
Total Receivables, Net |
34.2 |
16.9 |
9.6 |
7.9 |
|
Inventories - Finished Goods |
6.2 |
3.1 |
1.8 |
2.2 |
|
Inventories - Work In Progress |
0.1 |
0.1 |
0.3 |
0.1 |
|
Inventories - Raw Materials |
5.0 |
1.4 |
3.5 |
1.2 |
|
Inventories - Other |
1.2 |
2.5 |
0.9 |
0.3 |
|
Total Inventory |
12.5 |
7.1 |
6.6 |
3.9 |
|
Prepaid Expenses |
23.6 |
5.3 |
3.0 |
7.5 |
|
Total Current Assets |
159.4 |
35.3 |
27.7 |
27.0 |
|
|
|
|
|
|
|
Buildings |
8.8 |
6.5 |
3.4 |
- |
|
Machinery/Equipment |
17.5 |
11.2 |
6.3 |
- |
|
Construction in
Progress |
6.8 |
8.8 |
7.4 |
0.2 |
|
Property/Plant/Equipment - Gross |
33.1 |
26.5 |
17.0 |
0.2 |
|
Accumulated Depreciation |
-5.5 |
-3.7 |
-2.5 |
- |
|
Property/Plant/Equipment - Net |
27.7 |
22.8 |
14.6 |
6.9 |
|
Intangibles, Net |
11.0 |
9.4 |
7.8 |
4.4 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.2 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
0.3 |
0.2 |
0.1 |
0.1 |
|
Total Assets |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Accounts Payable |
3.0 |
2.6 |
2.1 |
0.8 |
|
Accrued Expenses |
1.0 |
1.1 |
0.4 |
0.1 |
|
Notes Payable/Short Term Debt |
13.7 |
16.5 |
12.5 |
11.9 |
|
Customer Advances |
2.1 |
2.9 |
1.6 |
2.7 |
|
Income Taxes Payable |
0.9 |
0.6 |
0.4 |
0.2 |
|
Other Current liabilities, Total |
3.0 |
3.4 |
2.0 |
2.9 |
|
Total Current Liabilities |
20.8 |
23.6 |
16.9 |
15.8 |
|
|
|
|
|
|
|
Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Debt |
14.5 |
18.0 |
15.3 |
11.9 |
|
|
|
|
|
|
|
Minority Interest |
5.3 |
0.0 |
- |
- |
|
Other Long Term Liabilities |
1.2 |
1.1 |
1.1 |
1.2 |
|
Other Liabilities, Total |
1.2 |
1.1 |
1.1 |
1.2 |
|
Total Liabilities |
28.0 |
26.1 |
20.8 |
17.0 |
|
|
|
|
|
|
|
Common Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Common Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Additional Paid-In Capital |
114.6 |
9.1 |
8.8 |
3.3 |
|
Retained Earnings (Accumulated Deficit) |
34.3 |
17.3 |
6.0 |
5.4 |
|
Total Equity |
170.3 |
41.6 |
29.4 |
21.5 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
397 |
265 |
- |
- |
|
Number of Common Shareholders |
9,062 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
1.8 |
1.3 |
1.0 |
- |
|
Deferred Revenue - Current |
2.1 |
2.9 |
1.6 |
2.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
Cash Receipts |
155.0 |
134.3 |
79.1 |
67.6 |
|
Cash Payments |
-150.8 |
-118.6 |
-66.6 |
-56.4 |
|
Cash Taxes Paid |
-5.1 |
-4.6 |
-3.1 |
-2.3 |
|
Other Operating Cash Flow |
-6.2 |
-3.4 |
-2.7 |
-2.5 |
|
Changes in Working Capital |
-6.2 |
-3.4 |
-2.7 |
-2.5 |
|
Cash from Operating Activities |
-7.2 |
7.7 |
6.6 |
6.5 |
|
Purchase of Fixed Assets |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Capital Expenditures |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Purchase of Investments |
- |
0.0 |
0.0 |
-2.9 |
|
Other Investing Cash Flow |
0.1 |
- |
- |
- |
|
Other Investing Cash Flow Items, Total |
0.1 |
0.0 |
0.0 |
-2.9 |
|
Cash from Investing Activities |
-18.9 |
-10.1 |
-8.6 |
-14.8 |
|
Other Financing Cash Flow |
111.0 |
-1.4 |
1.7 |
4.6 |
|
Financing Cash Flow Items |
111.0 |
-1.4 |
1.7 |
4.6 |
|
Total Debt Issued |
39.7 |
22.7 |
20.6 |
13.4 |
|
Total Debt Reduction |
-43.9 |
-20.7 |
-17.1 |
-6.6 |
|
Issuance (Retirement) of Debt, Net |
-4.2 |
2.1 |
3.5 |
6.8 |
|
Cash from Financing Activities |
106.8 |
0.7 |
5.2 |
11.5 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
80.7 |
-1.7 |
3.2 |
3.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
6.0 |
7.5 |
4.2 |
1.1 |
|
Net Cash - Ending Balance |
86.8 |
5.8 |
7.4 |
4.2 |
|
Depreciation |
1.6 |
1.1 |
0.8 |
0.7 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian Hengxin
Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
In Operating Income |
152.7 |
115.8 |
70.4 |
58.3 |
|
Total Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
|
|
|
|
|
|
OperatingCost |
122.9 |
92.7 |
55.6 |
49.5 |
|
Business Tax and Surcharges |
0.3 |
0.3 |
0.2 |
0.1 |
|
General & Administrative Expenses |
5.9 |
4.0 |
2.3 |
1.8 |
|
Selling Expense |
4.6 |
3.6 |
2.5 |
2.2 |
|
Interest Expense |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Income |
-0.3 |
0.0 |
-0.2 |
0.0 |
|
Foreign Exchange Loss |
0.2 |
0.3 |
0.0 |
0.1 |
|
Foreign Exchange Gain |
0.0 |
-0.2 |
-0.1 |
-0.1 |
|
Other Fiance Costs |
0.2 |
0.1 |
0.1 |
0.1 |
|
Impairment Loss on Assets |
0.5 |
0.2 |
0.1 |
0.1 |
|
Total Operating Expense |
135.4 |
102.0 |
61.2 |
54.8 |
|
|
|
|
|
|
|
Gain on sale of fixed assets |
0.0 |
- |
- |
- |
|
Non - Operating Income |
0.9 |
0.3 |
0.0 |
0.1 |
|
Loss on sale of fixed assets |
- |
- |
0.0 |
0.0 |
|
Non - Operating Expense |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Taxes |
18.1 |
14.2 |
9.2 |
3.7 |
|
|
|
|
|
|
|
Provision for Income Taxes |
2.5 |
1.9 |
1.3 |
0.4 |
|
Net Income After Taxes |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Minority Interest Income |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extra. Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
DPS-A Share |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
3.1 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
18.6 |
14.4 |
9.3 |
3.8 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.5 |
1.9 |
1.3 |
0.4 |
|
Normalized Income After Taxes |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Interest Expense, Supplemental |
1.2 |
1.0 |
0.7 |
0.9 |
|
Research & Development Exp, Supplemental |
2.2 |
1.9 |
0.9 |
0.9 |
|
Depreciation, Supplemental |
1.6 |
1.1 |
0.8 |
0.7 |
|
Amort of Intangibles, Supplemental |
0.4 |
0.3 |
0.3 |
0.2 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Income Tax - Total |
2.5 |
1.9 |
1.3 |
0.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian Hengxin
Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash and Cash Equivalent |
89.1 |
5.9 |
8.5 |
7.7 |
|
Notes Receivable |
14.4 |
7.4 |
3.3 |
1.6 |
|
Accounts Receivable, Gross |
20.7 |
10.2 |
6.8 |
6.7 |
|
Provision for doubtful accounts |
-1.4 |
-0.8 |
-0.6 |
-0.5 |
|
Prepayments |
23.6 |
5.3 |
3.0 |
7.5 |
|
Other Receivables |
0.5 |
0.2 |
0.1 |
0.1 |
|
Raw Material |
5.0 |
1.4 |
3.5 |
1.2 |
|
Work-in-Process |
0.1 |
0.1 |
0.3 |
0.1 |
|
Finished Products/Goods in Store |
6.2 |
3.1 |
1.8 |
2.2 |
|
Circulating Material |
0.1 |
0.1 |
0.1 |
0.1 |
|
Subcontracted Material |
1.1 |
2.4 |
0.9 |
0.2 |
|
Total Current Assets |
159.4 |
35.3 |
27.7 |
27.0 |
|
|
|
|
|
|
|
Buildings & Structures |
8.8 |
6.5 |
3.4 |
- |
|
Machinery and Equipment |
15.9 |
10.1 |
5.3 |
- |
|
Transportation Equipment |
0.9 |
0.6 |
0.6 |
- |
|
Electrical Equipment |
0.7 |
0.5 |
0.4 |
- |
|
Accumulated Depreciation |
-5.5 |
-3.7 |
-2.5 |
- |
|
Fixed Assets, Net |
- |
- |
- |
6.7 |
|
Construction in Progress |
6.7 |
8.6 |
6.1 |
0.2 |
|
Project materials |
0.1 |
0.2 |
1.2 |
0.0 |
|
Intangible assets |
11.0 |
9.4 |
7.8 |
4.4 |
|
Deferred income tax assets |
0.3 |
0.2 |
0.1 |
0.1 |
|
Total Assets |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Short Term Borrowing |
13.7 |
16.5 |
12.5 |
11.9 |
|
Accounts Payable |
3.0 |
2.6 |
2.1 |
0.8 |
|
Advance receipts |
2.1 |
2.9 |
1.6 |
2.7 |
|
Staff remuneration payables |
0.0 |
0.1 |
0.1 |
0.0 |
|
Taxes payable |
0.9 |
0.6 |
0.4 |
0.2 |
|
Other Creditors |
1.0 |
1.0 |
0.3 |
0.1 |
|
Total Current Liabilities |
20.8 |
23.6 |
16.9 |
15.8 |
|
|
|
|
|
|
|
Long Term Borrowing |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
|
|
|
|
|
|
Special Payables |
0.2 |
0.0 |
1.1 |
1.2 |
|
Other Non-current Liabilities |
1.0 |
1.1 |
0.1 |
0.0 |
|
Minority Stockholder''s Interest |
5.3 |
0.0 |
- |
- |
|
Total Liabilities |
28.0 |
26.1 |
20.8 |
17.0 |
|
|
|
|
|
|
|
Capital Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Paid in Capital |
114.6 |
9.1 |
8.8 |
3.3 |
|
Surplus reserves |
2.7 |
1.3 |
0.3 |
0.5 |
|
Retained profits |
31.5 |
16.0 |
5.7 |
4.9 |
|
Total Equity |
170.3 |
41.6 |
29.4 |
21.5 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
S/O-A Share |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
2.1 |
2.9 |
1.6 |
2.7 |
|
Accumulated Intangible Amort, Suppl. |
1.8 |
1.3 |
1.0 |
- |
|
Number of Common Shareholders |
9,062 |
- |
- |
- |
|
Full-Time Employees |
397 |
265 |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian Hengxin
Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash from sale of Goods & Services |
155.0 |
134.3 |
79.1 |
67.6 |
|
Cash Paid for Goods and Services |
-150.8 |
-118.6 |
-66.6 |
-56.4 |
|
Tax rebates received |
0.4 |
0.2 |
0.0 |
- |
|
Other cash received concerning operating |
1.1 |
1.9 |
0.6 |
0.9 |
|
All Taxes Paid |
-5.5 |
-4.8 |
-3.1 |
-2.3 |
|
Cash paid for other operating activities |
-7.4 |
-5.4 |
-3.3 |
-3.4 |
|
Cash from Operating Activities |
-7.2 |
7.7 |
6.6 |
6.5 |
|
|
|
|
|
|
|
Net cash from disposal of fixed assets, |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other cash received concerning investing |
0.1 |
- |
- |
- |
|
Capital Expenditure |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Cash Paid for Purchase of Investments |
- |
0.0 |
0.0 |
-2.9 |
|
Cash from Investing Activities |
-18.9 |
-10.1 |
-8.6 |
-14.8 |
|
|
|
|
|
|
|
Cash received from capital contributions |
112.7 |
- |
0.0 |
9.7 |
|
Cash from Borrowings |
39.7 |
22.7 |
20.6 |
13.4 |
|
Other Cash from Financing Activities |
0.2 |
1.1 |
3.4 |
1.0 |
|
Cash repayments of amounts borrowed |
-43.9 |
-20.7 |
-17.1 |
-6.6 |
|
Cash paid for other financing activities |
-0.7 |
0.0 |
-1.1 |
-5.2 |
|
Cash Paid for Dividend and Interest |
-1.1 |
-2.4 |
-0.7 |
-0.9 |
|
Cash from Financing Activities |
106.8 |
0.7 |
5.2 |
11.5 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
80.7 |
-1.7 |
3.2 |
3.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
6.0 |
7.5 |
4.2 |
1.1 |
|
Net Cash - Ending Balance |
86.8 |
5.8 |
7.4 |
4.2 |
|
Depreciation |
1.6 |
1.1 |
0.8 |
0.7 |
|
Amortization of Intangibles |
0.4 |
0.3 |
0.3 |
0.2 |
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-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Sales |
152.7 |
115.8 |
70.4 |
58.3 |
|
Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
Total Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
|
|
|
|
|
|
Cost of Revenue |
122.9 |
92.7 |
55.6 |
49.5 |
|
Excise Taxes Payments |
0.3 |
0.3 |
0.2 |
0.1 |
|
Cost of Revenue, Total |
123.2 |
93.0 |
55.7 |
49.6 |
|
Gross Profit |
29.5 |
22.8 |
14.7 |
8.7 |
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
10.5 |
7.5 |
4.9 |
4.0 |
|
Total Selling/General/Administrative Expenses |
10.5 |
7.5 |
4.9 |
4.0 |
|
Interest Expense -
Operating |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Expense - Net Operating |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Income -
Operating |
-0.3 |
0.0 |
-0.2 |
0.0 |
|
Investment Income -
Operating |
0.2 |
0.1 |
-0.1 |
0.1 |
|
Interest/Investment Income - Operating |
-0.1 |
0.1 |
-0.2 |
0.1 |
|
Interest Expense (Income) - Net Operating Total |
1.1 |
1.1 |
0.4 |
0.9 |
|
Impairment-Assets Held for Use |
0.5 |
0.2 |
0.1 |
0.1 |
|
Unusual Expense (Income) |
0.5 |
0.2 |
0.1 |
0.1 |
|
Other Operating Expense |
0.2 |
0.1 |
0.1 |
0.1 |
|
Other Operating Expenses, Total |
0.2 |
0.1 |
0.1 |
0.1 |
|
Total Operating Expense |
135.4 |
102.0 |
61.2 |
54.8 |
|
|
|
|
|
|
|
Operating Income |
17.3 |
13.8 |
9.2 |
3.6 |
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
0.0 |
- |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.8 |
0.3 |
0.0 |
0.1 |
|
Other, Net |
0.8 |
0.3 |
0.0 |
0.1 |
|
Income Before Tax |
18.1 |
14.2 |
9.2 |
3.7 |
|
|
|
|
|
|
|
Total Income Tax |
2.5 |
1.9 |
1.3 |
0.4 |
|
Income After Tax |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
3.1 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
1.2 |
1.0 |
0.7 |
0.9 |
|
Depreciation, Supplemental |
1.6 |
1.1 |
0.8 |
0.7 |
|
Total Special Items |
0.5 |
0.2 |
0.1 |
0.1 |
|
Normalized Income Before Tax |
18.6 |
14.4 |
9.3 |
3.8 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2.5 |
1.9 |
1.3 |
0.4 |
|
Normalized Income After Tax |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Amort of Intangibles, Supplemental |
0.4 |
0.3 |
0.3 |
0.2 |
|
Research & Development Exp, Supplemental |
2.2 |
1.9 |
0.9 |
0.9 |
|
Normalized EBIT |
18.9 |
15.2 |
9.7 |
4.6 |
|
Normalized EBITDA |
20.9 |
16.6 |
10.8 |
5.5 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Income Tax - Total |
2.5 |
1.9 |
1.3 |
0.4 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
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) |
6.309123 |
6.425549 |
6.417282 |
6.501206 |
6.583076 |
|
|
|
|
|
|
|
|
Net Sales |
37.0 |
123.0 |
38.1 |
43.7 |
30.0 |
|
Revenue |
37.0 |
123.0 |
38.1 |
43.7 |
30.0 |
|
Total Revenue |
37.0 |
123.0 |
38.1 |
43.7 |
30.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
29.3 |
99.1 |
30.6 |
35.1 |
24.0 |
|
Excise Taxes Payments |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Cost of Revenue, Total |
29.4 |
99.3 |
30.6 |
35.2 |
24.0 |
|
Gross Profit |
7.7 |
23.6 |
7.5 |
8.5 |
6.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
2.9 |
8.7 |
3.4 |
2.4 |
1.8 |
|
Total Selling/General/Administrative Expenses |
2.9 |
8.7 |
3.4 |
2.4 |
1.8 |
|
Interest Expense (Income) - Net Operating |
0.1 |
0.8 |
0.2 |
0.5 |
0.4 |
|
Interest Expense (Income) - Net Operating Total |
0.1 |
0.8 |
0.2 |
0.5 |
0.4 |
|
Impairment-Assets Held for Use |
0.4 |
0.3 |
-0.1 |
0.4 |
0.2 |
|
Unusual Expense (Income) |
0.4 |
0.3 |
-0.1 |
0.4 |
0.2 |
|
Total Operating Expense |
32.7 |
109.1 |
34.1 |
38.5 |
26.5 |
|
|
|
|
|
|
|
|
Operating Income |
4.4 |
13.9 |
4.0 |
5.2 |
3.4 |
|
|
|
|
|
|
|
|
Other Non-Operating Income (Expense) |
0.6 |
0.7 |
0.1 |
0.2 |
0.1 |
|
Other, Net |
0.6 |
0.7 |
0.1 |
0.2 |
0.1 |
|
Income Before Tax |
5.0 |
14.6 |
4.1 |
5.4 |
3.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.8 |
2.0 |
0.6 |
0.9 |
0.5 |
|
Income After Tax |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Extraord Items |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
Net Income |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excl Extraord Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted Net Income |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excl Extraord Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
3.2 |
0.0 |
0.0 |
0.0 |
|
Total Special Items |
0.4 |
0.3 |
-0.1 |
0.4 |
0.2 |
|
Normalized Income Before Tax |
5.4 |
14.9 |
4.0 |
5.8 |
3.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
0.8 |
2.0 |
0.6 |
0.9 |
0.5 |
|
Normalized Income After Tax |
4.5 |
12.9 |
3.4 |
4.9 |
3.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.5 |
12.9 |
3.4 |
4.9 |
3.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Normalized EBIT |
4.8 |
14.9 |
4.1 |
6.2 |
4.1 |
|
Normalized EBITDA |
4.8 |
14.9 |
4.1 |
6.2 |
4.1 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash & Equivalents |
89.1 |
5.9 |
8.5 |
7.7 |
|
Cash and Short Term Investments |
89.1 |
5.9 |
8.5 |
7.7 |
|
Accounts Receivable -
Trade, Gross |
20.7 |
10.2 |
6.8 |
6.7 |
|
Provision for Doubtful
Accounts |
-1.4 |
-0.8 |
-0.6 |
-0.5 |
|
Trade Accounts Receivable - Net |
19.3 |
9.4 |
6.2 |
6.2 |
|
Notes Receivable - Short Term |
14.4 |
7.4 |
3.3 |
1.6 |
|
Other Receivables |
0.5 |
0.2 |
0.1 |
0.1 |
|
Total Receivables, Net |
34.2 |
16.9 |
9.6 |
7.9 |
|
Inventories - Finished Goods |
6.2 |
3.1 |
1.8 |
2.2 |
|
Inventories - Work In Progress |
0.1 |
0.1 |
0.3 |
0.1 |
|
Inventories - Raw Materials |
5.0 |
1.4 |
3.5 |
1.2 |
|
Inventories - Other |
1.2 |
2.5 |
0.9 |
0.3 |
|
Total Inventory |
12.5 |
7.1 |
6.6 |
3.9 |
|
Prepaid Expenses |
23.6 |
5.3 |
3.0 |
7.5 |
|
Total Current Assets |
159.4 |
35.3 |
27.7 |
27.0 |
|
|
|
|
|
|
|
Buildings |
8.8 |
6.5 |
3.4 |
- |
|
Machinery/Equipment |
17.5 |
11.2 |
6.3 |
- |
|
Construction in
Progress |
6.8 |
8.8 |
7.4 |
0.2 |
|
Property/Plant/Equipment - Gross |
33.1 |
26.5 |
17.0 |
0.2 |
|
Accumulated Depreciation |
-5.5 |
-3.7 |
-2.5 |
- |
|
Property/Plant/Equipment - Net |
27.7 |
22.8 |
14.6 |
6.9 |
|
Intangibles, Net |
11.0 |
9.4 |
7.8 |
4.4 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.2 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
0.3 |
0.2 |
0.1 |
0.1 |
|
Total Assets |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Accounts Payable |
3.0 |
2.6 |
2.1 |
0.8 |
|
Accrued Expenses |
1.0 |
1.1 |
0.4 |
0.1 |
|
Notes Payable/Short Term Debt |
13.7 |
16.5 |
12.5 |
11.9 |
|
Customer Advances |
2.1 |
2.9 |
1.6 |
2.7 |
|
Income Taxes Payable |
0.9 |
0.6 |
0.4 |
0.2 |
|
Other Current liabilities, Total |
3.0 |
3.4 |
2.0 |
2.9 |
|
Total Current Liabilities |
20.8 |
23.6 |
16.9 |
15.8 |
|
|
|
|
|
|
|
Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Debt |
14.5 |
18.0 |
15.3 |
11.9 |
|
|
|
|
|
|
|
Minority Interest |
5.3 |
0.0 |
- |
- |
|
Other Long Term Liabilities |
1.2 |
1.1 |
1.1 |
1.2 |
|
Other Liabilities, Total |
1.2 |
1.1 |
1.1 |
1.2 |
|
Total Liabilities |
28.0 |
26.1 |
20.8 |
17.0 |
|
|
|
|
|
|
|
Common Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Common Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Additional Paid-In Capital |
114.6 |
9.1 |
8.8 |
3.3 |
|
Retained Earnings (Accumulated Deficit) |
34.3 |
17.3 |
6.0 |
5.4 |
|
Total Equity |
170.3 |
41.6 |
29.4 |
21.5 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
397 |
265 |
- |
- |
|
Number of Common Shareholders |
9,062 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
1.8 |
1.3 |
1.0 |
- |
|
Deferred Revenue - Current |
2.1 |
2.9 |
1.6 |
2.7 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.303024 |
6.294 |
6.3859 |
6.464 |
6.5485 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
72.9 |
89.1 |
87.5 |
89.4 |
7.8 |
|
Cash and Short Term Investments |
72.9 |
89.1 |
87.5 |
89.4 |
7.8 |
|
Trade Accounts Receivable - Net |
25.5 |
19.3 |
20.7 |
20.2 |
13.4 |
|
Notes Receivable - Short Term |
14.7 |
14.4 |
12.9 |
7.3 |
7.0 |
|
Other Receivables |
0.8 |
0.5 |
0.5 |
0.4 |
0.1 |
|
Total Receivables, Net |
41.0 |
34.2 |
34.1 |
27.9 |
20.6 |
|
Total Inventory |
15.6 |
12.5 |
14.0 |
13.8 |
16.5 |
|
Prepaid Expenses |
28.0 |
23.6 |
13.5 |
9.9 |
9.5 |
|
Total Current Assets |
157.5 |
159.4 |
149.2 |
141.2 |
54.3 |
|
|
|
|
|
|
|
|
Construction in
Progress |
10.3 |
6.8 |
10.6 |
10.0 |
9.9 |
|
Property/Plant/Equipment - Gross |
10.3 |
6.8 |
10.6 |
10.0 |
9.9 |
|
Property/Plant/Equipment - Net |
31.2 |
27.7 |
26.0 |
25.2 |
23.8 |
|
Intangibles, Net |
10.8 |
11.0 |
9.4 |
9.4 |
9.3 |
|
Deferred Charges |
- |
- |
0.0 |
- |
- |
|
Deferred Income Tax - Long Term Asset |
0.4 |
0.3 |
0.3 |
0.4 |
0.3 |
|
Other Long Term Assets, Total |
0.4 |
0.3 |
0.4 |
0.4 |
0.3 |
|
Total Assets |
199.9 |
198.3 |
184.9 |
176.1 |
87.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
3.0 |
3.0 |
2.3 |
2.2 |
3.4 |
|
Accrued Expenses |
0.9 |
1.0 |
0.9 |
1.6 |
0.7 |
|
Notes Payable/Short Term Debt |
12.7 |
13.7 |
14.1 |
10.1 |
34.7 |
|
Customer Advances |
1.6 |
2.1 |
1.5 |
1.8 |
1.6 |
|
Income Taxes Payable |
0.8 |
0.9 |
1.1 |
1.1 |
0.9 |
|
Other Current liabilities, Total |
2.4 |
3.0 |
2.6 |
2.8 |
2.5 |
|
Total Current Liabilities |
19.1 |
20.8 |
20.0 |
16.8 |
41.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
0.8 |
0.8 |
0.8 |
0.8 |
|
Total Long Term Debt |
0.0 |
0.8 |
0.8 |
0.8 |
0.8 |
|
Total Debt |
12.7 |
14.5 |
14.9 |
10.9 |
35.4 |
|
|
|
|
|
|
|
|
Minority Interest |
5.3 |
5.3 |
0.2 |
- |
- |
|
Other Long Term Liabilities |
1.3 |
1.2 |
1.0 |
1.0 |
1.0 |
|
Other Liabilities, Total |
1.3 |
1.2 |
1.0 |
1.0 |
1.0 |
|
Total Liabilities |
25.6 |
28.0 |
21.9 |
18.6 |
43.1 |
|
|
|
|
|
|
|
|
Common Stock |
21.4 |
21.4 |
21.1 |
20.9 |
15.3 |
|
Common Stock |
21.4 |
21.4 |
21.1 |
20.9 |
15.3 |
|
Additional Paid-In Capital |
114.4 |
114.6 |
112.6 |
111.3 |
9.1 |
|
Retained Earnings (Accumulated Deficit) |
38.4 |
34.3 |
29.2 |
25.4 |
20.2 |
|
Total Equity |
174.3 |
170.3 |
163.0 |
157.5 |
44.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
199.9 |
198.3 |
184.9 |
176.1 |
87.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Common Shareholders |
8,898 |
9,062 |
7,783 |
25,845 |
- |
|
Accumulated Intangible Amort, Suppl. |
- |
1.8 |
- |
1.6 |
- |
|
Deferred Revenue - Current |
1.6 |
2.1 |
1.5 |
1.8 |
1.6 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian Hengxin
Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash Receipts |
155.0 |
134.3 |
79.1 |
67.6 |
|
Cash Payments |
-150.8 |
-118.6 |
-66.6 |
-56.4 |
|
Cash Taxes Paid |
-5.1 |
-4.6 |
-3.1 |
-2.3 |
|
Other Operating Cash Flow |
-6.2 |
-3.4 |
-2.7 |
-2.5 |
|
Changes in Working Capital |
-6.2 |
-3.4 |
-2.7 |
-2.5 |
|
Cash from Operating Activities |
-7.2 |
7.7 |
6.6 |
6.5 |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Capital Expenditures |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Purchase of Investments |
- |
0.0 |
0.0 |
-2.9 |
|
Other Investing Cash Flow |
0.1 |
- |
- |
- |
|
Other Investing Cash Flow Items, Total |
0.1 |
0.0 |
0.0 |
-2.9 |
|
Cash from Investing Activities |
-18.9 |
-10.1 |
-8.6 |
-14.8 |
|
|
|
|
|
|
|
Other Financing Cash Flow |
111.0 |
-1.4 |
1.7 |
4.6 |
|
Financing Cash Flow Items |
111.0 |
-1.4 |
1.7 |
4.6 |
|
Total Debt Issued |
39.7 |
22.7 |
20.6 |
13.4 |
|
Total Debt Reduction |
-43.9 |
-20.7 |
-17.1 |
-6.6 |
|
Issuance (Retirement) of Debt, Net |
-4.2 |
2.1 |
3.5 |
6.8 |
|
Cash from Financing Activities |
106.8 |
0.7 |
5.2 |
11.5 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
80.7 |
-1.7 |
3.2 |
3.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
6.0 |
7.5 |
4.2 |
1.1 |
|
Net Cash - Ending Balance |
86.8 |
5.8 |
7.4 |
4.2 |
|
Depreciation |
1.6 |
1.1 |
0.8 |
0.7 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.309123 |
6.46438 |
6.500043 |
6.541904 |
6.583076 |
|
|
|
|
|
|
|
|
Cash Receipts |
29.5 |
155.0 |
109.2 |
74.0 |
34.3 |
|
Cash Payments |
-34.7 |
-150.8 |
-112.7 |
-79.1 |
-46.1 |
|
Cash Taxes Paid |
-1.3 |
-5.1 |
-3.7 |
-2.3 |
-0.9 |
|
Other Operating Cash Flow |
-0.8 |
-6.2 |
-4.0 |
-2.7 |
-1.2 |
|
Changes in Working Capital |
-0.8 |
-6.2 |
-4.0 |
-2.7 |
-1.2 |
|
Cash from Operating Activities |
-7.3 |
-7.2 |
-11.2 |
-10.0 |
-13.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-6.5 |
-19.0 |
-9.2 |
-4.4 |
-0.8 |
|
Capital Expenditures |
-6.5 |
-19.0 |
-9.2 |
-4.4 |
-0.8 |
|
Sale of Fixed Assets |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other Investing Cash Flow |
- |
0.1 |
0.0 |
- |
- |
|
Other Investing Cash Flow Items, Total |
- |
0.1 |
0.0 |
0.0 |
- |
|
Cash from Investing Activities |
-6.5 |
-18.9 |
-9.2 |
-4.4 |
-0.8 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.2 |
111.0 |
106.6 |
106.2 |
-0.4 |
|
Financing Cash Flow Items |
-0.2 |
111.0 |
106.6 |
106.2 |
-0.4 |
|
Total Debt Issued |
4.7 |
39.7 |
37.4 |
27.6 |
25.9 |
|
Total Debt Reduction |
-6.8 |
-43.9 |
-43.6 |
-37.0 |
-9.1 |
|
Issuance (Retirement) of Debt, Net |
-2.1 |
-4.2 |
-6.1 |
-9.4 |
16.8 |
|
Cash from Financing Activities |
-2.3 |
106.8 |
100.5 |
96.9 |
16.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
-16.1 |
80.7 |
80.0 |
82.4 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
88.9 |
6.0 |
6.0 |
6.0 |
5.9 |
|
Net Cash - Ending Balance |
72.8 |
86.8 |
86.0 |
88.4 |
7.7 |
|
Depreciation |
- |
1.6 |
- |
0.8 |
- |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
In Operating Income |
152.7 |
115.8 |
70.4 |
58.3 |
|
Total Revenue |
152.7 |
115.8 |
70.4 |
58.3 |
|
|
|
|
|
|
|
OperatingCost |
122.9 |
92.7 |
55.6 |
49.5 |
|
Business Tax and Surcharges |
0.3 |
0.3 |
0.2 |
0.1 |
|
General & Administrative Expenses |
5.9 |
4.0 |
2.3 |
1.8 |
|
Selling Expense |
4.6 |
3.6 |
2.5 |
2.2 |
|
Interest Expense |
1.2 |
1.0 |
0.7 |
0.9 |
|
Interest Income |
-0.3 |
0.0 |
-0.2 |
0.0 |
|
Foreign Exchange Loss |
0.2 |
0.3 |
0.0 |
0.1 |
|
Foreign Exchange Gain |
0.0 |
-0.2 |
-0.1 |
-0.1 |
|
Other Fiance Costs |
0.2 |
0.1 |
0.1 |
0.1 |
|
Impairment Loss on Assets |
0.5 |
0.2 |
0.1 |
0.1 |
|
Total Operating Expense |
135.4 |
102.0 |
61.2 |
54.8 |
|
|
|
|
|
|
|
Gain on sale of fixed assets |
0.0 |
- |
- |
- |
|
Non - Operating Income |
0.9 |
0.3 |
0.0 |
0.1 |
|
Loss on sale of fixed assets |
- |
- |
0.0 |
0.0 |
|
Non - Operating Expense |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Taxes |
18.1 |
14.2 |
9.2 |
3.7 |
|
|
|
|
|
|
|
Provision for Income Taxes |
2.5 |
1.9 |
1.3 |
0.4 |
|
Net Income After Taxes |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Minority Interest Income |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extra. Items |
15.7 |
12.3 |
7.9 |
3.3 |
|
Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.7 |
12.3 |
7.9 |
3.3 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Net Income |
15.7 |
12.3 |
7.9 |
3.3 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.08 |
0.06 |
0.04 |
0.02 |
|
DPS-A Share |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
3.1 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
18.6 |
14.4 |
9.3 |
3.8 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.5 |
1.9 |
1.3 |
0.4 |
|
Normalized Income After Taxes |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
16.1 |
12.5 |
8.1 |
3.4 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Diluted Normalized EPS |
0.08 |
0.06 |
0.04 |
0.02 |
|
Interest Expense, Supplemental |
1.2 |
1.0 |
0.7 |
0.9 |
|
Research & Development Exp, Supplemental |
2.2 |
1.9 |
0.9 |
0.9 |
|
Depreciation, Supplemental |
1.6 |
1.1 |
0.8 |
0.7 |
|
Amort of Intangibles, Supplemental |
0.4 |
0.3 |
0.3 |
0.2 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Current Tax - Total |
2.5 |
2.0 |
1.3 |
0.7 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Deferred Tax - Total |
-0.1 |
-0.1 |
0.0 |
-0.2 |
|
Income Tax - Total |
2.5 |
1.9 |
1.3 |
0.4 |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
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) |
6.309123 |
6.425549 |
6.417282 |
6.501206 |
6.583076 |
|
|
|
|
|
|
|
|
In Operating Income |
37.0 |
123.0 |
38.1 |
43.7 |
30.0 |
|
Total Revenue |
37.0 |
123.0 |
38.1 |
43.7 |
30.0 |
|
|
|
|
|
|
|
|
OperatingCost |
29.3 |
99.1 |
30.6 |
35.1 |
24.0 |
|
Business taxes and surcharges |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Administrative expenses |
1.7 |
4.8 |
2.1 |
1.1 |
1.1 |
|
Marketing expenses |
1.2 |
3.9 |
1.2 |
1.3 |
0.7 |
|
Financial expenses |
0.1 |
0.8 |
0.2 |
0.5 |
0.4 |
|
Assets depreciation loss |
0.4 |
0.3 |
-0.1 |
0.4 |
0.2 |
|
Total Operating Expense |
32.7 |
109.1 |
34.1 |
38.5 |
26.5 |
|
|
|
|
|
|
|
|
Non-operating income |
0.6 |
0.8 |
0.1 |
0.2 |
0.1 |
|
Non-operating expenses |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Net Income Before Taxes |
5.0 |
14.6 |
4.1 |
5.4 |
3.5 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.8 |
2.0 |
0.6 |
0.9 |
0.5 |
|
Net Income After Taxes |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Minority Interest Income |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Extra. Items |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
Net Income |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted Net Income |
4.2 |
12.6 |
3.5 |
4.6 |
3.1 |
|
Diluted Weighted Average Shares |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
DPS-A Share |
0.00 |
0.02 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
3.2 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
5.4 |
14.9 |
4.0 |
5.8 |
3.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.8 |
2.0 |
0.6 |
0.9 |
0.5 |
|
Normalized Income After Taxes |
4.5 |
12.9 |
3.4 |
4.9 |
3.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4.5 |
12.9 |
3.4 |
4.9 |
3.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.02 |
0.06 |
0.02 |
0.02 |
0.02 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian Hengxin
Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash and Cash Equivalent |
89.1 |
5.9 |
8.5 |
7.7 |
|
Notes Receivable |
14.4 |
7.4 |
3.3 |
1.6 |
|
Accounts Receivable, Gross |
20.7 |
10.2 |
6.8 |
6.7 |
|
Provision for doubtful accounts |
-1.4 |
-0.8 |
-0.6 |
-0.5 |
|
Prepayments |
23.6 |
5.3 |
3.0 |
7.5 |
|
Other Receivables |
0.5 |
0.2 |
0.1 |
0.1 |
|
Raw Material |
5.0 |
1.4 |
3.5 |
1.2 |
|
Work-in-Process |
0.1 |
0.1 |
0.3 |
0.1 |
|
Finished Products/Goods in Store |
6.2 |
3.1 |
1.8 |
2.2 |
|
Circulating Material |
0.1 |
0.1 |
0.1 |
0.1 |
|
Subcontracted Material |
1.1 |
2.4 |
0.9 |
0.2 |
|
Total Current Assets |
159.4 |
35.3 |
27.7 |
27.0 |
|
|
|
|
|
|
|
Buildings & Structures |
8.8 |
6.5 |
3.4 |
- |
|
Machinery and Equipment |
15.9 |
10.1 |
5.3 |
- |
|
Transportation Equipment |
0.9 |
0.6 |
0.6 |
- |
|
Electrical Equipment |
0.7 |
0.5 |
0.4 |
- |
|
Accumulated Depreciation |
-5.5 |
-3.7 |
-2.5 |
- |
|
Fixed Assets, Net |
- |
- |
- |
6.7 |
|
Construction in Progress |
6.7 |
8.6 |
6.1 |
0.2 |
|
Project materials |
0.1 |
0.2 |
1.2 |
0.0 |
|
Intangible assets |
11.0 |
9.4 |
7.8 |
4.4 |
|
Deferred income tax assets |
0.3 |
0.2 |
0.1 |
0.1 |
|
Total Assets |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
Short Term Borrowing |
13.7 |
16.5 |
12.5 |
11.9 |
|
Accounts Payable |
3.0 |
2.6 |
2.1 |
0.8 |
|
Advance receipts |
2.1 |
2.9 |
1.6 |
2.7 |
|
Staff remuneration payables |
0.0 |
0.1 |
0.1 |
0.0 |
|
Taxes payable |
0.9 |
0.6 |
0.4 |
0.2 |
|
Other Creditors |
1.0 |
1.0 |
0.3 |
0.1 |
|
Total Current Liabilities |
20.8 |
23.6 |
16.9 |
15.8 |
|
|
|
|
|
|
|
Long Term Borrowing |
0.8 |
1.5 |
2.8 |
0.0 |
|
Total Long Term Debt |
0.8 |
1.5 |
2.8 |
0.0 |
|
|
|
|
|
|
|
Special Payables |
0.2 |
0.0 |
1.1 |
1.2 |
|
Other Non-current Liabilities |
1.0 |
1.1 |
0.1 |
0.0 |
|
Minority Stockholder''s Interest |
5.3 |
0.0 |
- |
- |
|
Total Liabilities |
28.0 |
26.1 |
20.8 |
17.0 |
|
|
|
|
|
|
|
Capital Stock |
21.4 |
15.2 |
14.6 |
12.7 |
|
Paid in Capital |
114.6 |
9.1 |
8.8 |
3.3 |
|
Surplus reserves |
2.7 |
1.3 |
0.3 |
0.5 |
|
Retained profits |
31.5 |
16.0 |
5.7 |
4.9 |
|
Total Equity |
170.3 |
41.6 |
29.4 |
21.5 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
198.3 |
67.7 |
50.2 |
38.4 |
|
|
|
|
|
|
|
S/O-A Share |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
2.1 |
2.9 |
1.6 |
2.7 |
|
Accumulated Intangible Amort, Suppl. |
1.8 |
1.3 |
1.0 |
- |
|
Number of Common Shareholders |
9,062 |
- |
- |
- |
|
Full-Time Employees |
397 |
265 |
- |
- |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.303024 |
6.294 |
6.3859 |
6.464 |
6.5485 |
|
|
|
|
|
|
|
|
Monetary capital |
72.9 |
89.1 |
87.5 |
89.4 |
7.8 |
|
Notes Receivable |
14.7 |
14.4 |
12.9 |
7.3 |
7.0 |
|
Accounts receivable |
25.5 |
19.3 |
20.7 |
20.2 |
13.4 |
|
Prepayments |
28.0 |
23.6 |
13.5 |
9.9 |
9.5 |
|
Other Receivables |
0.8 |
0.5 |
0.5 |
0.4 |
0.1 |
|
Inventory |
15.6 |
12.5 |
14.0 |
13.8 |
16.5 |
|
Total Current Assets |
157.5 |
159.4 |
149.2 |
141.2 |
54.3 |
|
|
|
|
|
|
|
|
Fixed assets |
20.9 |
20.8 |
15.3 |
15.2 |
13.9 |
|
Under-construction projects |
9.8 |
6.7 |
10.3 |
9.7 |
9.7 |
|
Project materials |
0.5 |
0.1 |
0.3 |
0.3 |
0.3 |
|
Intangible assets |
10.8 |
11.0 |
9.4 |
9.4 |
9.3 |
|
Deferred income tax assets |
0.4 |
0.3 |
0.3 |
0.4 |
0.3 |
|
Long-term prepaid expenses |
- |
- |
0.0 |
- |
- |
|
Total Assets |
199.9 |
198.3 |
184.9 |
176.1 |
87.8 |
|
|
|
|
|
|
|
|
Short-term borrowings |
12.7 |
13.7 |
14.1 |
10.1 |
34.7 |
|
Accounts Payable |
3.0 |
3.0 |
2.3 |
2.2 |
3.4 |
|
Advance receipts |
1.6 |
2.1 |
1.5 |
1.8 |
1.6 |
|
Staff remuneration payables |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Taxes payable |
0.8 |
0.9 |
1.1 |
1.1 |
0.9 |
|
Other Creditors |
0.9 |
1.0 |
0.9 |
1.6 |
0.6 |
|
Total Current Liabilities |
19.1 |
20.8 |
20.0 |
16.8 |
41.3 |
|
|
|
|
|
|
|
|
Long-term borrowings |
- |
0.8 |
0.8 |
0.8 |
0.8 |
|
Total Long Term Debt |
- |
0.8 |
0.8 |
0.8 |
0.8 |
|
|
|
|
|
|
|
|
Other Non-current Liabilities |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
|
Minority Stockholder''s Interest |
5.3 |
5.3 |
0.2 |
- |
- |
|
Special payables |
0.3 |
0.2 |
- |
- |
- |
|
Total Liabilities |
25.6 |
28.0 |
21.9 |
18.6 |
43.1 |
|
|
|
|
|
|
|
|
Paid-up capital |
21.4 |
21.4 |
21.1 |
20.9 |
15.3 |
|
Capital reserves |
114.4 |
114.6 |
112.6 |
111.3 |
9.1 |
|
Surplus reserves |
2.7 |
2.7 |
1.4 |
1.3 |
1.3 |
|
Retained profits |
35.7 |
31.5 |
27.8 |
24.0 |
18.9 |
|
Total Equity |
174.3 |
170.3 |
163.0 |
157.5 |
44.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
199.9 |
198.3 |
184.9 |
176.1 |
87.8 |
|
|
|
|
|
|
|
|
S/O-A Share |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
Total Common Shares Outstanding |
202.5 |
202.5 |
202.5 |
202.5 |
202.5 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
1.6 |
2.1 |
1.5 |
1.8 |
1.6 |
|
Accumulated Intangible Amort, Suppl. |
- |
1.8 |
- |
1.6 |
- |
|
Number of Common Shareholders |
8,898 |
9,062 |
7,783 |
25,845 |
- |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
Shandong Tian
Hengxin Accounting Office |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash from sale of Goods & Services |
155.0 |
134.3 |
79.1 |
67.6 |
|
Cash Paid for Goods and Services |
-150.8 |
-118.6 |
-66.6 |
-56.4 |
|
Tax rebates received |
0.4 |
0.2 |
0.0 |
- |
|
Other cash received concerning operating |
1.1 |
1.9 |
0.6 |
0.9 |
|
All Taxes Paid |
-5.5 |
-4.8 |
-3.1 |
-2.3 |
|
Cash paid for other operating activities |
-7.4 |
-5.4 |
-3.3 |
-3.4 |
|
Cash from Operating Activities |
-7.2 |
7.7 |
6.6 |
6.5 |
|
|
|
|
|
|
|
Net cash from disposal of fixed assets, |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other cash received concerning investing |
0.1 |
- |
- |
- |
|
Capital Expenditure |
-19.0 |
-10.1 |
-8.6 |
-12.0 |
|
Cash Paid for Purchase of Investments |
- |
0.0 |
0.0 |
-2.9 |
|
Cash from Investing Activities |
-18.9 |
-10.1 |
-8.6 |
-14.8 |
|
|
|
|
|
|
|
Cash received from capital contributions |
112.7 |
- |
0.0 |
9.7 |
|
Cash from Borrowings |
39.7 |
22.7 |
20.6 |
13.4 |
|
Other Cash from Financing Activities |
0.2 |
1.1 |
3.4 |
1.0 |
|
Cash repayments of amounts borrowed |
-43.9 |
-20.7 |
-17.1 |
-6.6 |
|
Cash paid for other financing activities |
-0.7 |
0.0 |
-1.1 |
-5.2 |
|
Cash Paid for Dividend and Interest |
-1.1 |
-2.4 |
-0.7 |
-0.9 |
|
Cash from Financing Activities |
106.8 |
0.7 |
5.2 |
11.5 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
80.7 |
-1.7 |
3.2 |
3.1 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
6.0 |
7.5 |
4.2 |
1.1 |
|
Net Cash - Ending Balance |
86.8 |
5.8 |
7.4 |
4.2 |
|
Depreciation |
1.6 |
1.1 |
0.8 |
0.7 |
|
Amortization of Intangibles |
0.4 |
0.3 |
0.3 |
0.2 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.309123 |
6.46438 |
6.500043 |
6.541904 |
6.583076 |
|
|
|
|
|
|
|
|
Cash from Sale of Goods & Services |
29.5 |
155.0 |
109.2 |
74.0 |
34.3 |
|
Cash Paid for Goods and Services |
-34.7 |
-150.8 |
-112.7 |
-79.1 |
-46.1 |
|
Tax rebates received |
0.1 |
0.4 |
0.3 |
0.2 |
0.2 |
|
Other cash received concerning operating |
0.9 |
1.1 |
1.0 |
0.7 |
0.1 |
|
Cash paid for taxes and surcharges |
-1.5 |
-5.5 |
-4.0 |
-2.5 |
-1.1 |
|
Cash paid for other operating activities |
-1.7 |
-7.4 |
-5.0 |
-3.4 |
-1.3 |
|
Cash from Operating Activities |
-7.3 |
-7.2 |
-11.2 |
-10.0 |
-13.9 |
|
|
|
|
|
|
|
|
Net cash from disposal of fixed assets, |
- |
0.0 |
0.0 |
0.0 |
- |
|
Cash paid for purchase and construction |
-6.5 |
-19.0 |
-9.2 |
-4.4 |
-0.8 |
|
Cash paid for other investing activities |
- |
- |
0.0 |
- |
- |
|
Other cash received concerning investing |
- |
0.1 |
- |
- |
- |
|
Cash from Investing Activities |
-6.5 |
-18.9 |
-9.2 |
-4.4 |
-0.8 |
|
Borrowings received |
4.7 |
39.7 |
37.4 |
27.6 |
25.9 |
|
Other cash received concerning financing |
- |
0.2 |
1.3 |
1.3 |
- |
|
Cash repayments of amounts borrowed |
-6.8 |
-43.9 |
-43.6 |
-37.0 |
-9.1 |
|
Cash paid for dividend and profit distri |
-0.2 |
-1.1 |
-0.9 |
-0.8 |
-0.4 |
|
Cash received from capital contributions |
- |
112.7 |
107.0 |
106.2 |
- |
|
Cash paid for other financing activities |
- |
-0.7 |
-0.8 |
-0.4 |
- |
|
Cash from Financing Activities |
-2.3 |
106.8 |
100.5 |
96.9 |
16.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
-16.1 |
80.7 |
80.0 |
82.4 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
88.9 |
6.0 |
6.0 |
6.0 |
5.9 |
|
Net Cash - Ending Balance |
72.8 |
86.8 |
86.0 |
88.4 |
7.7 |
|
Depreciation |
- |
1.6 |
- |
0.8 |
- |
|
Amortization of Intangibles |
- |
0.4 |
- |
0.2 |
- |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic Segments
Financials in: As Reported (mil)
|
Interim |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.78 |
|
UK Pound |
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.