MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	EVEREST TEXTILE CO LTD.

Registered Office :	256 Ming Ho Village, No.256, Ming Ho Li, Shanshang District, Tainan, 743

Country :	Taiwan

Financials (as on) :	31.12.2010

Date of Incorporation :	08.02.1988

Legal Form :	Public Parent

Line of Business :	Manufacture, Processing, Dyeing And Trading Of Textile Products

No. of Employees :	3,077

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Taiwan

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

Company name and address

Everest Textile Co Ltd.

256 Ming Ho Village
No.256, Ming Ho Li, Shanshang District

Tainan, 743
Taiwan

Tel:	886-6-5782561
Fax:	886-6-5782864

Employees:

3,077

Company Type:

Public Parent

Corporate Family:

2 Companies

Traded:

Taiwan Stock Exchange:

1460

Incorporation Date:

08-Feb-1988

Auditor:

Deloitte & Touche LLP

Fiscal Year End:	31-Dec-2010
Reporting Currency:	Taiwanese New Dollar
Annual Sales:	195.2 ¹
Net Income:	(44.9)
Total Assets:	297.6 ²
Market Value:	124.3
	(09-Mar-2012)

Business Description

Everest Textile Co Ltd is principally engaged in the manufacture, processing, dyeing and trading of textile products. The Company provides polyester textured yarns, suede fabrics, Lycra elastic woven materials, ultra-thin fiber fabrics, functional high density fabrics, pre-dyed fabrics, intertextures, waterproof fabrics, quick-drying fabrics, smart fabrics and ultra-light fabrics, among others. During the year ended December 31, 2010, the Company obtained approximately 67%, 16% and 11% of its revenue from its long woven finished fabric, textured yarn and short woven finished fabric businesses, respectively. The Company distributes its products mainly to overseas markets, including Europe, the Americas, Japan, Korea, Hong Kong, the Middle East, Southeast Asia, Australia and New Zealand. For the three months ended 31 March 2011, Everest Textile Co., Ltd.'s revenues increased 38% to NT$1.64B. The Company's net income for the period totaled NT$33.3B, vs. a net loss of NT$1.30B. Revenues reflect a growth in sales volume due to effective marketing strategy. Net income also benefited from the absence of loss on fire disaster, higher foreign exchange gain, an inclusion of gains on sale of investments, and higher interest income.

Industry

Industry	Textiles - Non Apparel
ANZSIC 2006:	1332 - Rope, Cordage and Twine Manufacturing
NACE 2002:	1754 - Manufacture of other textiles not elsewhere classified
NAICS 2002:	313111 - Yarn Spinning Mills
UK SIC 2003:	17549 - Manufacture of other textiles not elsewhere classified
US SIC 1987:	2299 - Textile goods, Not Elsewhere Classified

Key Executives

Name	Title
Jinghai Liang	Deputy General Manager-Research & Development
Roger Ching-Lai Yei	President
Wen-Kui Hsiang	Deputy General Manager-Finance & Administration
Ming-Yi Hsiao	Manager-Sales & Marketing
Ming-Tsi Chen	Vice President-Operations

Significant Developments

Topic	#*	Most Recent Headline	Date
Dividends	1	Everest Textile Co Ltd Announces No Dividend Payment for FY 2011	14-Mar-2012

* number of significant developments within the last 12 months

Financial Summary

As of 30-Sep-2011

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.48	2.75
Quick Ratio (MRQ)	0.46	1.45
Debt to Equity (MRQ)	0.99	0.52
Sales 5 Year Growth	2.61	10.05
Net Profit Margin (TTM) %	-0.14	7.39
Return on Assets (TTM) %	-0.12	7.59
Return on Equity (TTM) %	-0.28	15.09

Stock Snapshot

Traded: Taiwan Stock Exchange: 1460

As of 9-Mar-2012

Financials in: TWD

Recent Price	7.78	EPS	-3.24
52 Week High	8.89	Price/Sales	0.60
52 Week Low	5.30	Price/Book	0.98
Avg. Volume (mil)	0.70	Beta	1.12
Market Value (mil)	3,665.85

	Price % Change	Rel S&P 500%
4 Week	9.58%	7.47%
13 Week	27.54%	9.67%
52 Week	-7.93%	-0.73%
Year to Date	19.69%	5.59%

Profit & Loss Item Exchange Rate: USD 1 = TWD 31.49704

Balance Sheet Item Exchange Rate: USD 1 = TWD 29.1565

Corporate Overview

Location
256 Ming Ho Village
No.256, Ming Ho Li, Shanshang District
Tainan, 743
Taiwan

Tel:	886-6-5782561
Fax:	886-6-5782864

Quote Symbol - Exchange
1460 - Taiwan Stock Exchange

Sales TWD(mil):	6,149.0
Assets TWD(mil):	8,677.0
Employees:	3,077
Fiscal Year End:	31-Dec-2010


Industry:	Textiles - Non Apparel

Incorporation Date:	08-Feb-1988
Company Type:	Public Parent
Quoted Status:	Quoted


Chairman of the Board:	Jiayi Xi

Industry Codes

ANZSIC 2006 Codes:
1332	-	Rope, Cordage and Twine Manufacturing

NACE 2002 Codes:
1754	-	Manufacture of other textiles not elsewhere classified

NAICS 2002 Codes:
313111	-	Yarn Spinning Mills

US SIC 1987:
2299	-	Textile goods, Not Elsewhere Classified

UK SIC 2003:
17549	-	Manufacture of other textiles not elsewhere classified

Business Description

More Business Descriptions

Production and design of fabrics including texturing, weaving, dyeing, printing and special textile finishing; trade in textiles and ready-to-wear clothing

Source: Graham & Whiteside

This major group includes establishments engaged in performing any of the following operations: (1) preparation of fiber and subsequent manufacturing of yarn, thread, braids, twine, and cordage; (2) manufacturing broadwoven fabrics, narrow woven fabrics, knit fabrics, and carpets and rugs from yarn; (3) dyeing and finishing fiber, yarn, fabrics, and knit apparel; (4) coating, waterproofing, or otherwise treating fabrics; (5) the integrated manufacture of knit apparel and other finished articles from yarn; and (6) the manufacture of felt goods, lace goods, non-woven fabrics, and miscellaneous textiles.

Source: BMI

Fiber, Yarn, and Thread Mills

Financial Data

Financials in:	TWD(mil)

Revenue:	6,149.0
Net Income:	-1,415.3
Assets:	8,677.0
Long Term Debt:	1,189.6
Total Liabilities:	5,219.4
Working Capital:	1.8

Date of Financial Data:	31-Dec-2010

1 Year Growth

10.8%

0.3%

Market Data

Quote Symbol:	1460
Exchange:	Taiwan Stock Exchange
Currency:	TWD
Stock Price:	7.8
Stock Price Date:	03-09-2012
52 Week Price Change %:	-7.9
Market Value (mil):	3,665,851.0

SEDOL:	6324135
ISIN:	TW0001460004

Equity and Dept Distribution:
06/1998, 20% stock dividend & 8% Rights Issue @ TWD 26. 08/2000, 5% stock dividend. 07/1999, 12% stock dividend. 07/2004, 3% stock dividend. 09/2002, 3% stock dividend. 07/2005, 2% stock dividend. 08/2006, 2.042% stock dividend. FY'03 & '04 reclassified. FY'05 2Q reclassified. FY'06, fncls. are being CLA. FY'07 H1 C/F RES.FY'09 I/S ,B/S,C/F

Subsidiaries

Company	Percentage Owned	Country
Everest Investment (Holding) Limited	100%	BULGARIA
Everest Textile (HK) Co Ltd	99.30%	HONG KONG SAR
Everest Textile (Shanghai) Co Ltd	100%	PEOPLE'S REPUBLIC OF CHINA

Corporate Structure News

Corporate Family	:
	Everest Textile Co Ltd.
Everest Textile Co Ltd. Total Corporate Family Members: 2

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees	Source
Everest Textile Co Ltd.	Parent	Tainan	Taiwan	Textiles - Non Apparel	195.2	3,077	RT
Everest Textile (Thailand) Co Ltd	Subsidiary	Bangkok, Bangkok	Thailand	Textiles - Non Apparel			ACP

Board of Directors

Executives Report

Name

Title

Function

Johnny Chia-Yi Hsi

Chairman

Jiayi Xi

Chairman of the Board

Chairman

Xi Jiayi has been serving as Chairman of the Board in EVEREST TEXTTILE CO.,LTD since January 27, 1988. Xi holds a Master's degree in Computers from Columbia University, the United States. Xi also serves as Vice Chairman of the Board in Far Eastern New Century Corporation.

M Computers, Columbia University

Minzi Chen

Director

Director/Board Member

Chen Minzi is serving as Director in EVEREST TEXTTILE CO.,LTD. Chen used to be Deputy General Manager in the Company.

Hsuan-Tong Hsu

Director

Director/Board Member

Zhenglong Hu

Director

Director/Board Member

Hu Zhenglong has been serving as Director in EVEREST TEXTTILE CO.,LTD since June 1, 2006. Hu is also serving as Deputy General Manager in Far Eastern New Century Corporation.

Huasheng Lin

Director

Director/Board Member

Lin Huasheng has been serving as Director in EVEREST TEXTTILE CO.,LTD since May 10, 1997. Lin currently also serves as a lawyer.

Gaoshan Wu

Director

Director/Board Member

Wu Gaoshan has been serving as Director in EVEREST TEXTTILE CO.,LTD since January 27, 1988. Wu is also serving as Deputy General Manager in Far Eastern New Century Corporation.

Xudong Xu

Director

Director/Board Member

Xu Xudong has been serving as Director in EVEREST TEXTTILE CO.,LTD since June 5, 2003. Xu holds a Master's degree in Economics from Columbia University, the United States. Xu also serves as Chairman of the Board in Far Eastern New Century Corporation.

M Economics, Columbia University

Qinglai Ye

General Manager, Director

Director/Board Member

Shoutun Ye

Director

Director/Board Member

Reuters Biography (Everest Textile Co Ltd.)

Ye Shoutun has been serving as Director of EVEREST TEXTTILE CO.,LTD since June 5, 2003. Ye also serves as Chairman of the Board in an industrial company.

Shou-Chun Yeh

Director

Director/Board Member

Yingzhi Zhuang

Director

Director/Board Member

Zhuang Yingzhi has been serving as Director in EVEREST TEXTTILE CO.,LTD since May 31, 1994. Zhuang also serves as Director in an investment company.

Executives

Name

Title

Function

Roger Ching-Lai Yei

President

Wen-Kui Hsiang

Deputy General Manager-Finance & Administration

Division Head Executive

Qinglai Ye

General Manager, Director

Division Head Executive

Ming-Tsi Chen

Vice President-Operations

Operations Executive

Lisa Liu

Manager-Investor Relations

Investment Executive

Ming-Yi Hsiao

Manager-Sales & Marketing

Sales Executive

Jinghai Liang

Deputy General Manager-Research & Development

Other

Liang Jinghai has been serving as Deputy General Manager-Research & Development in EVEREST TEXTTILE CO.,LTD since August 1, 2006. Liang used to be Manager in the Company.

Wengui Xiang

Deputy General Manager-Management

Other

Significant Developments

Everest Textile Co Ltd Announces No Dividend Payment for FY 2011

Mar 14, 2012

Everest Textile Co Ltd announced that it will pay no dividend to shareholders for fiscal year 2011.

Annual Income Statement

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Sales	195.2	168.0	194.5	-	-
Gross Revenue	-	-	-	221.9	178.0
Revenue	195.2	168.0	194.5	221.9	178.0
Other Revenue	-	-	-	0.0	0.0
Other Revenue, Total	-	-	-	0.0	0.0
Total Revenue	195.2	168.0	194.5	221.9	178.1

Cost of Revenue	168.8	141.2	187.2	193.9	156.3
Cost of Revenue, Total	168.8	141.2	187.2	193.9	156.3
Gross Profit	26.4	26.8	7.2	28.0	21.7

Selling/General/Administrative Expense	24.1	20.6	22.0	21.0	18.3
Total Selling/General/Administrative Expenses	24.1	20.6	22.0	21.0	18.3
Research & Development	5.4	5.4	5.7	6.7	6.6
Impairment-Assets Held for Sale	-	-	0.9	0.2	0.6
Unusual Expense (Income)	-	-	0.9	0.2	0.6
Total Operating Expense	198.3	167.3	215.8	221.7	181.8

Operating Income	-3.1	0.8	-21.3	0.2	-3.8

Interest Expense - Non-Operating	-1.2	-1.3	-2.1	-1.5	-1.7
Interest Expense, Net Non-Operating	-1.2	-1.3	-2.1	-1.5	-1.7
Interest Income - Non-Operating	0.0	0.0	0.1	0.7	0.3
Investment Income - Non-Operating	-1.1	-0.1	3.5	3.1	6.9
Interest/Investment Income - Non-Operating	-1.1	-0.1	3.6	3.9	7.2
Interest Income (Expense) - Net Non-Operating Total	-2.4	-1.4	1.5	2.4	5.5
Gain (Loss) on Sale of Assets	-	-	-	0.2	0.3
Other Non-Operating Income (Expense)	-38.9	1.0	1.2	1.2	0.3
Other, Net	-38.9	1.0	1.2	1.2	0.3
Income Before Tax	-44.3	0.3	-18.6	4.0	2.5

Total Income Tax	0.6	0.1	-2.0	0.5	0.1
Income After Tax	-44.9	0.2	-16.6	3.5	2.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extraord Items	-44.9	0.2	-16.6	3.5	2.3
Net Income	-44.9	0.2	-16.6	3.5	2.3

Income Available to Common Excl Extraord Items	-44.9	0.2	-16.6	3.5	2.3

Income Available to Common Incl Extraord Items	-44.9	0.2	-16.6	3.5	2.3

Basic/Primary Weighted Average Shares	437.5	440.8	456.0	456.7	461.2
Basic EPS Excl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Basic/Primary EPS Incl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Dilution Adjustment	0.0	-	0.0	-	-
Diluted Net Income	-44.9	0.2	-16.6	3.5	2.3
Diluted Weighted Average Shares	437.5	440.9	456.0	456.7	461.2
Diluted EPS Excl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Diluted EPS Incl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.01	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	3.0	2.3
Interest Expense, Supplemental	1.2	1.3	2.1	1.5	1.7
Interest Capitalized, Supplemental	-0.1	0.0	-0.1	0.0	-0.1
Depreciation, Supplemental	14.7	16.3	17.4	17.8	17.7
Total Special Items	-	-	0.9	0.0	0.3
Normalized Income Before Tax	-44.3	0.3	-17.8	4.0	2.8

Effect of Special Items on Income Taxes	-	-	0.3	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.6	0.1	-1.7	0.5	0.2
Normalized Income After Tax	-44.9	0.2	-16.0	3.5	2.6

Normalized Inc. Avail to Com.	-44.9	0.2	-16.0	3.5	2.6

Basic Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Diluted Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Amort of Intangibles, Supplemental	-	-	-	0.9	0.9
Research & Development Exp, Supplemental	5.4	5.4	5.7	6.7	6.6
Normalized EBIT	-3.1	0.8	-20.4	0.4	-3.1
Normalized EBITDA	11.6	17.1	-3.0	19.1	15.5
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Other Tax	0.0	0.0	0.0	0.0	-0.1
Income Tax - Total	0.6	0.1	-2.0	0.5	0.1
Interest Cost - Domestic	0.3	0.4	0.5	0.4	0.5
Service Cost - Domestic	0.4	0.4	0.5	0.4	0.6
Expected Return on Assets - Domestic	-0.1	-0.2	-0.2	-0.2	-0.2
Transition Costs - Domestic	0.1	0.1	0.1	0.1	0.2
Domestic Pension Plan Expense	0.7	0.7	0.9	0.7	1.0
Total Pension Expense	0.7	0.7	0.9	0.7	1.0
Discount Rate - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Compensation Rate - Domestic	1.25%	1.25%	1.25%	1.50%	1.50%
Total Plan Interest Cost	0.3	0.4	0.5	0.4	0.5
Total Plan Service Cost	0.4	0.4	0.5	0.4	0.6
Total Plan Expected Return	-0.1	-0.2	-0.2	-0.2	-0.2

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Cash & Equivalents	13.7	13.7	12.9	12.5	32.1
Short Term Investments	8.5	7.1	5.0	13.0	8.4
Cash and Short Term Investments	22.2	20.8	17.9	25.5	40.4
Accounts Receivable - Trade, Gross	31.8	23.5	22.5	20.4	14.6
Provision for Doubtful Accounts	-2.2	-1.5	-1.4	-1.1	-1.1
Trade Accounts Receivable - Net	30.9	27.6	24.3	23.0	20.8
Notes Receivable - Short Term	0.8	0.3	1.0	0.7	0.7
Other Receivables	-	-	-	-	0.0
Total Receivables, Net	31.6	27.9	25.3	23.6	21.5
Inventories - Finished Goods	50.0	63.2	57.1	73.5	67.4
Inventories - Work In Progress	38.7	19.9	19.7	22.1	22.0
Inventories - Raw Materials	13.1	7.3	6.5	7.6	7.0
Inventories - Other	-	-	-	-9.8	-9.2
Total Inventory	101.8	90.5	83.4	93.4	87.1
Restricted Cash - Current	-	-	-	-	0.0
Deferred Income Tax - Current Asset	2.0	2.2	3.5	2.9	3.0
Other Current Assets	5.7	2.1	2.1	5.4	5.1
Other Current Assets, Total	7.7	4.3	5.5	8.3	8.1
Total Current Assets	163.4	143.5	132.1	150.9	157.1

Buildings	62.7	58.3	54.5	55.6	52.3
Land/Improvements	5.8	5.2	5.1	5.3	5.0
Machinery/Equipment	286.5	276.1	267.3	269.0	259.1
Construction in Progress	4.3	1.1	5.7	2.3	3.7
Other Property/Plant/Equipment	15.0	13.7	13.3	0.0	-
Property/Plant/Equipment - Gross	374.3	354.5	345.9	332.2	320.1
Accumulated Depreciation	-248.5	-237.0	-218.4	-213.6	-197.5
Property/Plant/Equipment - Net	125.7	117.5	127.5	118.6	122.6
LT Investment - Affiliate Companies	0.0	0.6	0.5	0.6	0.6
LT Investments - Other	0.6	2.1	2.5	3.9	5.1
Long Term Investments	0.6	2.7	3.1	4.5	5.7
Pension Benefits - Overfunded	0.4	0.0	0.3	0.5	0.1
Deferred Income Tax - Long Term Asset	5.2	5.0	3.7	2.1	2.1
Other Long Term Assets	2.4	1.8	1.6	2.1	1.9
Other Long Term Assets, Total	7.9	6.8	5.6	4.7	4.1
Total Assets	297.6	270.4	268.2	278.8	289.5

Accounts Payable	30.7	18.0	19.6	18.3	28.6
Accrued Expenses	8.6	6.5	5.9	5.3	5.5
Notes Payable/Short Term Debt	45.2	25.8	24.2	29.2	13.9
Current Portion - Long Term Debt/Capital Leases	32.4	26.2	22.7	16.5	25.5
Income Taxes Payable	0.0	0.0	0.2	0.4	0.1
Other Payables	5.2	2.7	0.8	-	24.1
Other Current Liabilities	2.5	1.5	1.1	4.0	1.1
Other Current liabilities, Total	7.6	4.3	2.1	4.3	25.3
Total Current Liabilities	124.5	80.8	74.5	73.6	98.8

Long Term Debt	40.8	25.1	34.8	31.5	26.7
Total Long Term Debt	40.8	25.1	34.8	31.5	26.7
Total Debt	118.4	77.1	81.7	77.2	66.1

Minority Interest	0.0	0.0	0.0	0.0	0.0
Reserves	5.7	5.2	5.0	0.0	-
Pension Benefits - Underfunded	8.0	6.5	6.2	6.0	4.9
Other Long Term Liabilities	0.0	0.0	0.0	0.0	-
Other Liabilities, Total	13.7	11.7	11.2	6.1	4.9
Total Liabilities	179.0	117.6	120.5	111.2	130.4

Common Stock	161.6	147.3	149.4	151.2	150.5
Common Stock	161.6	147.3	149.4	151.2	150.5
Additional Paid-In Capital	4.1	3.7	7.6	7.4	7.3
Retained Earnings (Accumulated Deficit)	-48.3	0.2	-6.9	12.4	11.2
Treasury Stock - Common	-7.9	-7.2	-8.0	-7.1	-7.0
Unrealized Gain (Loss)	1.5	0.8	-2.6	-4.9	-6.4
Translation Adjustment	7.7	8.0	8.1	8.6	3.5
Minimum Pension Liability Adjustment	-0.1	-	-	-0.2	0.0
Other Equity, Total	7.5	8.0	8.1	8.4	3.5
Total Equity	118.6	152.8	147.7	167.5	159.1

Total Liabilities & Shareholders’ Equity	297.6	270.4	268.2	278.8	289.5

Shares Outstanding - Common Stock Primary Issue	437.5	437.5	448.9	456.7	456.7
Total Common Shares Outstanding	437.5	437.5	448.9	456.7	456.7
Treasury Shares - Common Stock Primary Issue	33.7	33.7	41.5	33.7	33.7
Employees	3,108	2,704	2,901	2,935	2,895
Number of Common Shareholders	18,905	19,532	20,568	21,459	23,224
Total Operating Leases, Supplemental	14.3	-	-	-	-
Operating Lease Payments Due in Year 1	1.8	-	-	-	-
Operating Lease Payments Due in Year 2	1.2	-	-	-	-
Operating Lease Payments Due in Year 3	0.9	-	-	-	-
Operating Lease Payments Due in Year 4	10.5	-	-	-	-
Operating Lease Payments Due in Year 5	0.0	-	-	-	-
Operating Lease Pymts. Due in 2-3 Years	2.0	-	-	-	-
Operating Lease Pymts. Due in 4-5 Years	10.5	-	-	-	-
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.0	-	-	-	-
Pension Obligation - Domestic	18.2	16.2	15.8	16.0	14.6
Plan Assets - Domestic	7.9	7.4	7.3	7.5	7.2
Funded Status - Domestic	-10.3	-8.8	-8.5	-8.5	-7.4
Accumulated Obligation - Domestic	15.9	13.9	13.5	13.5	12.2
Total Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Discount Rate - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Compensation Rate - Domestic	1.25%	1.25%	1.25%	1.50%	1.50%
Prepaid Benefits - Domestic	0.4	0.0	0.3	0.5	0.1
Accrued Liabilities - Domestic	-8.0	-6.5	-6.2	-6.0	-4.9
Net Assets Recognized on Balance Sheet	-7.6	-6.5	-5.8	-5.5	-4.8
Total Plan Obligations	18.2	16.2	15.8	16.0	14.6
Total Plan Assets	7.9	7.4	7.3	7.5	7.2

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Income/Starting Line	-44.9	0.2	-16.6	3.5	2.3
Depreciation	14.7	16.3	17.4	17.8	17.7
Depreciation/Depletion	14.7	16.3	17.4	17.8	17.7
Unusual Items	1.0	-1.0	4.8	-1.7	-1.9
Equity in Net Earnings (Loss)	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	41.4	1.5	-0.1	1.6	1.7
Non-Cash Items	42.5	0.5	4.7	0.0	-0.2
Accounts Receivable	-1.5	-2.0	-2.6	-2.1	-9.4
Inventories	-32.7	-4.1	2.0	-6.4	-15.9
Other Assets	-2.6	0.0	3.1	-0.2	-1.2
Accounts Payable	11.2	-0.1	2.3	-12.3	22.1
Accrued Expenses	1.4	0.4	0.7	-0.2	0.7
Taxes Payable	0.0	-0.1	-0.2	0.3	-0.1
Other Liabilities	3.9	1.2	-3.8	-0.8	6.1
Changes in Working Capital	-20.4	-4.7	1.6	-21.7	2.4
Cash from Operating Activities	-8.1	12.3	7.0	-0.5	22.2

Purchase of Fixed Assets	-22.5	-4.5	-14.2	-31.2	-18.4
Capital Expenditures	-22.5	-4.5	-14.2	-31.2	-18.4
Sale of Fixed Assets	0.3	0.4	-	0.1	0.0
Sale/Maturity of Investment	1.8	2.0	17.1	25.2	32.0
Purchase of Investments	-	0.0	-11.8	-25.0	-5.1
Other Investing Cash Flow	-0.9	-0.8	-0.2	-1.1	-2.9
Other Investing Cash Flow Items, Total	1.2	1.5	5.2	-0.8	24.0
Cash from Investing Activities	-21.2	-3.0	-9.0	-32.0	5.6

Other Financing Cash Flow	0.0	-0.1	-0.1	-0.1	0.0
Financing Cash Flow Items	0.0	-0.1	-0.1	-0.1	0.0
Cash Dividends Paid - Common	-	0.0	-2.9	-2.1	0.0
Total Cash Dividends Paid	-	0.0	-2.9	-2.1	0.0
Repurchase/Retirement of Common	0.0	-1.9	-1.0	0.0	-2.0
Common Stock, Net	0.0	-1.9	-1.0	0.0	-2.0
Issuance (Retirement) of Stock, Net	0.0	-1.9	-1.0	0.0	-2.0
Short Term Debt, Net	12.4	0.5	-4.0	18.9	-12.7
Long Term Debt Issued	296.2	148.2	106.8	154.3	155.6
Long Term Debt Reduction	-280.6	-155.6	-96.1	-158.7	-149.0
Long Term Debt, Net	15.6	-7.4	10.7	-4.3	6.6
Issuance (Retirement) of Debt, Net	28.0	-6.9	6.6	14.6	-6.1
Cash from Financing Activities	28.0	-8.9	2.6	12.4	-8.1

Foreign Exchange Effects	0.1	0.0	0.0	0.6	-0.7
Net Change in Cash	-1.3	0.4	0.6	-19.5	19.0

Net Cash - Beginning Balance	13.9	12.9	12.8	31.8	13.1
Net Cash - Ending Balance	12.7	13.3	13.5	12.3	32.1
Cash Interest Paid	1.2	1.3	2.2	1.4	1.7
Cash Taxes Paid	0.0	0.1	0.3	0.2	0.1

Annual Income Statement

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Gross Sales	-	-	-	221.9	178.0
Processing Fees Income	-	-	-	0.0	0.0
Net Sales	195.2	168.0	194.5	-	-
Total Revenue	195.2	168.0	194.5	221.9	178.1

Cost of Sales	168.8	141.2	187.2	193.4	152.9
Processing Costs	-	-	-	0.0	0.2
Selling Expenses	16.6	13.7	15.7	15.5	13.2
General and Administrative Expenses	7.5	6.9	6.3	5.5	5.0
Research and Development Expenses	5.4	5.4	5.7	6.7	6.6
Loss on Physical Inventory	-	-	-	0.1	0.2
Loss on Inventory	-	-	-	0.4	3.0
Impairment Loss	-	-	0.9	0.2	0.6
Total Operating Expense	198.3	167.3	215.8	221.7	181.8

Interest Income	0.0	0.0	0.1	0.7	0.3
Gain/Loss on Equity Investment	-	-	0.0	0.0	0.0
Dividend Income	-	-	0.2	0.3	0.4
Gain on Sale of Investments	0.2	0.2	2.9	2.4	5.6
Gain on Sale of Scrap & Waste	-	-	-	0.3	0.4
Government Subsidy	-	-	0.4	0.3	0.4
Miscellaneous Income	1.5	1.6	1.4	1.5	0.3
Interest Expense	-1.2	-1.3	-2.1	-1.5	-1.7
Loss on Other Investments	-	-	-	-0.1	0.0
Loss on Sale of Fixed Assets	-	-	-	-0.1	0.0
Gain/Loss on Foreign Exchange	-1.3	-0.3	0.4	0.5	0.8
Disaster Losses	-39.0	0.0	-	-	-
Miscellaneous Disbursements	-1.3	-0.7	-0.6	-0.5	-0.5
Net Income Before Taxes	-44.3	0.3	-18.6	4.0	2.5

Provision for Income Taxes	0.6	0.1	-2.0	0.5	0.1
Net Income After Taxes	-44.9	0.2	-16.6	3.5	2.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extra. Items	-44.9	0.2	-16.6	3.5	2.3
Net Income	-44.9	0.2	-16.6	3.5	2.3

Income Available to Com Excl ExtraOrd	-44.9	0.2	-16.6	3.5	2.3

Income Available to Com Incl ExtraOrd	-44.9	0.2	-16.6	3.5	2.3

Basic Weighted Average Shares	437.5	440.8	456.0	456.7	461.2
Basic EPS Excluding ExtraOrdinary Items	-0.10	0.00	-0.04	0.01	0.01
Basic EPS Including ExtraOrdinary Items	-0.10	0.00	-0.04	0.01	0.01
Dilution Adjustment	0.0	-	0.0	-	-
Diluted Net Income	-44.9	0.2	-16.6	3.5	2.3
Diluted Weighted Average Shares	437.5	440.9	456.0	456.7	461.2
Diluted EPS Excluding ExtraOrd Items	-0.10	0.00	-0.04	0.01	0.01
Diluted EPS Including ExtraOrd Items	-0.10	0.00	-0.04	0.01	0.01
DPS-Common Stock	0.00	0.00	0.00	0.01	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	3.0	2.3
Normalized Income Before Taxes	-44.3	0.3	-17.8	4.0	2.8

Inc Tax Ex Impact of Sp Items	0.6	0.1	-1.7	0.5	0.2
Normalized Income After Taxes	-44.9	0.2	-16.0	3.5	2.6

Normalized Inc. Avail to Com.	-44.9	0.2	-16.0	3.5	2.6

Basic Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Diluted Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Interest Expense, Supplemental	1.2	1.3	2.1	1.5	1.7
Interest Capitalized	-0.1	0.0	-0.1	0.0	-0.1
R&D Expense, Supplemental	5.4	5.4	5.7	6.7	6.6
Depreciation - Operating Cost	13.7	14.9	15.9	16.4	16.4
Depreciation - Operating Expense	0.9	1.4	1.5	1.4	1.3
Amortization - Operating Cost	-	-	-	0.8	0.6
Amortization - Operating Expense	-	-	-	0.1	0.2
Current Tax Payable	0.0	0.0	0.1	0.4	0.1
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Deferred Tax	0.6	0.2	-2.2	0.0	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Others	0.0	0.0	0.0	0.0	-0.1
Income Tax - Total	0.6	0.1	-2.0	0.5	0.1
Service Cost	0.4	0.4	0.5	0.4	0.6
Interest Cost	0.3	0.4	0.5	0.4	0.5
Expected Return on Plan Assets	-0.1	-0.2	-0.2	-0.2	-0.2
Amort. Transitional Benefit Obligation	0.1	0.1	0.1	0.1	0.2
Domestic Pension Plan Expense	0.7	0.7	0.9	0.7	1.0
Total Pension Expense	0.7	0.7	0.9	0.7	1.0
Discount Rate	2.00%	2.00%	2.50%	3.00%	2.75%
Rate of Compensation Increase	1.25%	1.25%	1.25%	1.50%	1.50%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	3.00%	2.75%

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Cash and Cash Equivalent	13.7	13.7	12.9	12.5	32.1
Financial Assets-Available for Sale	8.5	7.1	5.0	13.0	8.4
Notes Receivable	0.8	0.3	1.0	0.7	0.7
Accounts Receivable, Gross	31.8	23.5	22.5	20.4	14.6
Provision for Doubtful Accounts	-2.2	-1.5	-1.3	-1.0	-1.0
Provision for Sales Discount	-0.1	-0.1	-0.1	-0.1	-0.1
Receivables due from Related Parties	1.3	5.6	3.2	3.7	7.3
Other Receivables - Related Parties	-	-	-	-	0.0
Finished Goods	50.0	63.2	57.1	73.5	58.9
Work-in-Process	38.7	19.9	19.7	22.1	22.0
Raw Material	10.3	5.2	4.1	5.5	5.2
Supplies	2.9	2.1	2.4	2.0	1.7
Merchandise	-	-	-	-	8.5
Materials in Transit	-	-	-	-	0.1
Provision/Allowance for Inventory	-	-	-	-9.8	-9.2
Deferred Income Tax Assets - Current	2.0	2.2	3.5	2.9	3.0
Restricted Assets	-	-	-	-	0.0
Other Current Assets	5.7	2.1	2.1	5.4	5.1
Total Current Assets	163.4	143.5	132.1	150.9	157.1

Long Term Equity Investment	0.0	0.6	0.5	0.6	0.6
Long Term Investment - Cost Method	0.6	2.1	2.5	3.9	5.1
Land and Improvements	5.8	5.2	5.1	5.3	5.0
Buildings and Structures	62.7	58.3	54.5	55.6	52.3
Machinery and Equipment	271.8	262.7	254.4	255.9	247.2
Transportation Equipment	3.2	2.9	2.9	3.1	3.1
Office Equipment	8.4	8.4	8.4	8.5	7.9
Miscellaneous Equipment	3.2	2.1	1.7	1.4	0.9
Assets Revaluation Increment	15.0	13.7	13.3	0.0	-
Accumulated Depreciation	-248.5	-237.0	-218.4	-213.6	-197.5
Construction in Progress	1.9	0.8	-	-	-
Prepayment for Equipment	2.4	0.3	-	-	-
Construction in Progress & Equipment	-	-	5.7	2.3	3.7
Deferred Pension Cost	0.4	0.0	0.3	0.5	0.1
Security Deposit Paid	0.4	0.3	0.3	0.6	0.4
Deferred Income Tax Assets - Non Current	5.2	5.0	3.7	2.1	2.1
Other Long Term Assets	2.0	1.4	1.3	1.4	1.4
Total Assets	297.6	270.4	268.2	278.8	289.5

Short Term Borrowings	9.9	11.5	16.1	18.7	5.7
Short Term Bills Payable	29.1	11.9	6.1	7.7	1.5
Notes Payable	4.6	2.3	2.0	2.7	6.7
Notes Payable - Related Parties	1.6	0.1	-	-	-
Accounts Payable	25.4	15.2	17.3	15.4	8.6
Accounts Payable - Related Parties	5.3	2.8	2.2	2.9	20.0
Other Payables,Related Parties	5.2	2.7	0.8	-	24.1
Income Taxes Payable	0.0	0.0	0.2	0.4	0.1
Accrued Expenses	8.6	6.5	5.9	5.3	5.5
Current Portion of Long Term Debt	32.4	26.2	22.7	16.5	25.5
Other Current Liabilities	2.5	1.5	1.1	4.0	1.1
Total Current Liabilities	124.5	80.8	74.5	73.6	98.8

Long Term Borrowings	40.8	25.1	34.8	31.5	26.7
Total Long Term Debt	40.8	25.1	34.8	31.5	26.7

Land Reval. Increment Tax Reserve	5.7	5.2	5.0	0.0	-
Accrued Pension Liabilities	8.0	6.5	6.2	6.0	4.9
Security Deposit Received	0.0	0.0	0.0	0.0	-
Minority Interest	0.0	0.0	0.0	0.0	0.0
Total Liabilities	179.0	117.6	120.5	111.2	130.4

Common Stock	161.6	147.3	149.4	151.2	150.5
Cap. Surplus, Treasury Stock Transaction	4.1	3.7	7.6	7.4	7.3
Legal Reserve	0.0	0.0	4.8	4.5	4.3
Legal Special Reserve	-	-	-	2.4	4.6
Retained Earnings	-48.4	0.2	-11.7	5.5	2.3
Unrealized G/L on Financial Instruments	-7.8	-7.8	-10.9	-4.9	-6.4
Cumulative Translation Adjustment	7.7	8.0	8.1	8.6	3.5
Unrealized Gain/Loss on Pension Fund	-0.1	-	-	-0.2	0.0
Unrealized Revaluation Increment	9.3	8.5	8.3	0.0	-
Treasury Stock	-7.9	-7.2	-8.0	-7.1	-7.0
Total Equity	118.6	152.8	147.7	167.5	159.1

Total Liabilities & Shareholders' Equity	297.6	270.4	268.2	278.8	289.5

S/O-Common Stock	437.5	437.5	448.9	456.7	456.7
Total Common Shares Outstanding	437.5	437.5	448.9	456.7	456.7
T/S-Common Stock	33.7	33.7	41.5	33.7	33.7
Full-Time Employees	3,108	2,704	2,901	2,935	2,895
Number of Common Shareholders	18,905	19,532	20,568	21,459	23,224
Operating Lease Pymts. Due within 1Year	1.8	-	-	-	-
Operating Lease Payments Due in Year 2	1.2	-	-	-	-
Operating Lease Payments Due in Year 3	0.9	-	-	-	-
Operating Lease Payments Due in Year 4	10.5	-	-	-	-
Operating Lease Payments Due in Year 5	0.0	-	-	-	-
Total Operating Leases	14.3	-	-	-	-
Benefit Obligation	18.2	16.2	15.8	16.0	14.6
Fair Value of Plan Assets	7.9	7.4	7.3	7.5	7.2
Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Accumulated Benefit Obligation	15.9	13.9	13.5	13.5	12.2
Total Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Discount Rate	2.00%	2.00%	2.50%	3.00%	2.75%
Rate of Compensation Increase	1.25%	1.25%	1.25%	1.50%	1.50%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	3.00%	2.75%
Deferred Pension Cost	0.4	0.0	0.3	0.5	0.1
Accrued Pension Liabilities	-8.0	-6.5	-6.2	-6.0	-4.9
Net Assets Recognized on Balance Sheet	-7.6	-6.5	-5.8	-5.5	-4.8

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Income	-44.9	0.2	-16.6	3.5	2.3
Depreciation	14.7	16.3	17.4	17.8	17.7
Deferred Charges	0.6	0.6	0.8	0.9	0.9
Loss/Impairment on Inventories	0.6	-0.7	6.8	0.4	3.0
Equity Investment Gain/Loss	0.0	0.0	0.0	0.0	0.0
Cash Dividends from Equity Subsidiaries	-	0.0	0.1	0.0	0.0
Cash Divi., Fncl. Asts HFS Investment	-	-	-	0.0	-
Impairment Loss	0.3	0.0	0.9	0.2	0.6
Other Investment Loss	-	-	-	0.1	0.0
G/L on Disposal&Write-off of Properties	0.3	-0.1	0.0	0.1	0.0
Gain on Sale of Investments	-0.2	-0.2	-2.9	-2.4	-5.6
Gain on Reversal of Bad Debts	0.6	0.1	0.4	0.0	0.0
Loss on Physical Inventory	0.2	0.1	0.2	0.1	-
Deferred Tax	0.6	0.2	-2.2	0.0	0.1
Fire Losses	39.0	-	-	-	-
Others	0.0	-	-	-	-
Pension Cost, Net	0.3	0.5	0.6	0.5	0.7
Notes Receivable	-0.4	0.7	-0.3	0.1	-0.5
Accounts Receivable	-5.6	-0.4	-2.5	-5.7	-2.1
Receivables from Related Parties	4.5	-2.3	0.5	3.6	-6.8
Other Receivables - Related Parties	-	0.0	-0.2	-0.1	0.0
Inventories	-32.7	-4.1	2.0	-6.4	-15.9
Restricted Assets	-	-	-	-	0.0
Other Current Assets	-2.6	0.0	3.1	-0.2	-1.2
Notes Payable	1.8	0.8	-0.7	-3.9	5.6
Notes Payable,Related Parties	1.4	-	-	-	-
Accounts Payable	7.0	-2.4	2.1	6.0	1.2
Payables to Related Parties	2.2	0.5	-0.7	-16.9	19.5
Tax Payable	0.0	-0.1	-0.2	0.3	-0.1
Accrued Expenses	1.4	0.4	0.7	-0.2	0.7
Other Payable - Related Parties	2.0	1.8	0.9	-1.4	1.4
Other Current Liabilities	0.7	0.5	-3.0	3.0	0.5
Cash from Operating Activities	-8.1	12.3	7.0	-0.5	22.2

Purchase of Financial Assets for Sale	-	0.0	-11.8	-25.0	-5.1
Disposal of LT Equity Investment	0.1	-	-	-	24.9
Disposal of Financial Assets-Cost Method	1.8	0.4	0.5	0.8	1.2
Cap.Reduction of Fin. Assets-Cost Method	0.1	-	-	-	-
Capital Expenditure	-22.5	-4.5	-14.2	-31.2	-18.4
Disposal of Fin. Asset-for Sale	0.0	1.6	16.6	24.3	5.9
Disposal of Fixed Assets&Other Assets	0.3	0.4	-	0.1	0.0
Security Deposit Paid	0.0	-0.1	0.4	-0.2	-2.1
Deferred Charges Increase	-1.0	-	-	-	-
Other Assets	-	-0.8	-0.6	-0.9	-0.8
Restricted Deposits	-	-	-	0.0	-
Cash from Investing Activities	-21.2	-3.0	-9.0	-32.0	5.6

ST Borrowings Increase/Decrease	-2.5	-4.9	-2.5	12.8	-8.1
Repayment of ST Notes	14.9	5.5	-1.6	6.1	-4.6
Long Term Borrowings	296.2	148.2	106.8	154.3	155.6
Repayment of LT Borrowings	-280.6	-155.6	-96.1	-158.7	-149.0
Cash Dividend - Common Stock	-	0.0	-2.9	-2.1	0.0
Employees Bonus	0.0	-0.1	-	-	-
Security Deposit Received	0.0	0.0	0.0	-	-
Directors Remuneration	-	0.0	-0.1	-0.1	0.0
Treasury Stock Repurchase	0.0	-1.9	-1.0	0.0	-2.0
Cash from Financing Activities	28.0	-8.9	2.6	12.4	-8.1

Foreign Exchange Effects	0.1	0.0	0.0	0.6	-0.7
Net Change in Cash	-1.3	0.4	0.6	-19.5	19.0

Net Cash - Beginning Balance	13.9	12.9	12.8	31.8	13.1
Net Cash - Ending Balance	12.7	13.3	13.5	12.3	32.1
Cash Interest Paid	1.2	1.3	2.2	1.4	1.7
Cash Taxes Paid	0.0	0.1	0.3	0.2	0.1

Financial Health

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
	Quarter Ending 30-Sep-2011	Quarter Ending Yr Ago	Annual Year End 31-Dec-2010	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	65.3	22.27%	195.2	10.81%	-5.51%	2.61%
Research & Development1	1.4	-7.27%	5.4	-5.80%	-8.29%	-1.88%
Operating Income1	0.0	-	-3.1	-	-	-
Income Available to Common Excl Extraord Items1	1.7	488.30%	-44.9	-	-	-
Basic EPS Excl Extraord Items1	0.00	487.83%	-0.10	-	-	-
Capital Expenditures2	11.6	-42.39%	22.5	372.60%	-11.58%	11.19%
Cash from Operating Activities2	1.8	-	-8.1	-	-	-
Free Cash Flow	-9.3	-	-33.1	-	-	-
Total Assets3	282.6	1.85%	297.6	0.32%	-1.36%	1.53%
Total Liabilities3	164.7	4.14%	179.0	38.80%	13.10%	13.18%
Total Long Term Debt3	48.5	79.72%	40.8	48.22%	5.15%	7.83%
Employees3	-	-	3108	14.94%	1.93%	8.52%
Total Common Shares Outstanding3	437.5	0.00%	437.5	0.00%	-1.42%	-0.90%
1-ExchangeRate: TWD to USD Average for Period	29.146237		31.497037
2-ExchangeRate: TWD to USD Average for Period	29.099862		31.497037
3-ExchangeRate: TWD to USD Period End Date	30.475000		29.156500

Key Ratios
	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Profitability
Gross Margin	13.51%	15.94%	3.73%	12.63%	12.20%
Operating Margin	-1.59%	0.45%	-10.96%	0.09%	-2.11%
Pretax Margin	-22.72%	0.20%	-9.59%	1.79%	1.39%
Net Profit Margin	-23.02%	0.11%	-8.54%	1.59%	1.30%
Financial Strength
Current Ratio	1.31	1.78	1.77	2.05	1.59
Long Term Debt/Equity	0.34	0.16	0.24	0.19	0.17
Total Debt/Equity	1.00	0.50	0.55	0.46	0.42
Management Effectiveness
Return on Assets	-16.34%	0.07%	-5.87%	1.25%	0.86%
Return on Equity	-33.92%	0.13%	-10.19%	2.18%	1.45%
Efficiency
Receivables Turnover	6.77	6.44	7.68	9.92	10.56
Inventory Turnover	1.81	1.66	2.05	2.17	1.93
Asset Turnover	0.71	0.64	0.69	0.79	0.66

Market Valuation USD (mil)
Enterprise Value2	220.5	.	Price/Sales (TTM)	0.51
Enterprise Value/Revenue (TTM)	0.94	.	Price/Book (MRQ)	0.95
Enterprise Value/EBITDA (TTM)	13.30	.	Market Cap1	124.3
1-ExchangeRate: TWD to USD on 9-Mar-2012	29.497566
2-ExchangeRate: TWD to USD on 30-Sep-2011	30.475000

Annual Ratios

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Financial Strength
Current Ratio	1.31	1.78	1.77	2.05	1.59
Quick/Acid Test Ratio	0.43	0.60	0.58	0.67	0.63
Working Capital1	38.8	62.7	57.6	77.3	58.4
Long Term Debt/Equity	0.34	0.16	0.24	0.19	0.17
Total Debt/Equity	1.00	0.50	0.55	0.46	0.42
Long Term Debt/Total Capital	0.17	0.11	0.15	0.13	0.12
Total Debt/Total Capital	0.50	0.34	0.36	0.32	0.29
Payout Ratio	0.00%	0.00%	0.00%	79.05%	91.63%
Effective Tax Rate	-	43.62%	-	11.61%	5.94%
Total Capital1	237.0	229.9	229.4	244.7	225.2

Efficiency
Asset Turnover	0.71	0.64	0.69	0.79	0.66
Inventory Turnover	1.81	1.66	2.05	2.17	1.93
Days In Inventory	201.19	220.23	178.17	168.16	188.81
Receivables Turnover	6.77	6.44	7.68	9.92	10.56
Days Receivables Outstanding	53.89	56.66	47.51	36.78	34.57
Revenue/Employee2	67,856	64,160	64,427	76,574	61,402
Operating Income/Employee2	-1,076	289	-7,062	69	-1,297
EBITDA/Employee2	4,018	6,518	-1,303	6,517	5,111

Profitability
Gross Margin	13.51%	15.94%	3.73%	12.63%	12.20%
Operating Margin	-1.59%	0.45%	-10.96%	0.09%	-2.11%
EBITDA Margin	5.92%	10.16%	-2.02%	8.51%	8.32%
EBIT Margin	-1.59%	0.45%	-10.96%	0.09%	-2.11%
Pretax Margin	-22.72%	0.20%	-9.59%	1.79%	1.39%
Net Profit Margin	-23.02%	0.11%	-8.54%	1.59%	1.30%
R&D Expense/Revenue	2.75%	3.24%	2.92%	3.01%	3.72%
COGS/Revenue	86.49%	84.06%	96.27%	87.37%	87.78%
SG&A Expense/Revenue	12.35%	12.26%	11.31%	9.45%	10.26%

Management Effectiveness
Return on Assets	-16.34%	0.07%	-5.87%	1.25%	0.86%
Return on Equity	-33.92%	0.13%	-10.19%	2.18%	1.45%

Valuation
Free Cash Flow/Share2	-0.08	0.02	-0.02	-0.07	0.01
Operating Cash Flow/Share 2	-0.02	0.03	0.02	0.00	0.05
1-ExchangeRate: TWD to USD Period End Date	29.1565	31.985	32.818	32.4345	32.585
2-ExchangeRate: TWD to USD Average for Period	29.1565	31.985	32.818	32.4345	32.585

Current Market Multiples
Market Cap/Earnings (TTM)	-366.55
Market Cap/Equity (MRQ)	1.02
Market Cap/Revenue (TTM)	0.51
Market Cap/EBIT (TTM)	115.59
Market Cap/EBITDA (TTM)	7.26
Enterprise Value/Earnings (TTM)	-672.01
Enterprise Value/Equity (MRQ)	1.87
Enterprise Value/Revenue (TTM)	0.94
Enterprise Value/EBIT (TTM)	211.91
Enterprise Value/EBITDA (TTM)	13.30

Annual Income Statement Standardized

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Sales	195.2	168.0	194.5	-	-
Gross Revenue	-	-	-	221.9	178.0
Revenue	195.2	168.0	194.5	221.9	178.0
Other Revenue	-	-	-	0.0	0.0
Other Revenue, Total	-	-	-	0.0	0.0
Total Revenue	195.2	168.0	194.5	221.9	178.1

Cost of Revenue	168.8	141.2	187.2	193.9	156.3
Cost of Revenue, Total	168.8	141.2	187.2	193.9	156.3
Gross Profit	26.4	26.8	7.2	28.0	21.7

Selling/General/Administrative Expense	24.1	20.6	22.0	21.0	18.3
Total Selling/General/Administrative Expenses	24.1	20.6	22.0	21.0	18.3
Research & Development	5.4	5.4	5.7	6.7	6.6
Impairment-Assets Held for Sale	-	-	0.9	0.2	0.6
Unusual Expense (Income)	-	-	0.9	0.2	0.6
Total Operating Expense	198.3	167.3	215.8	221.7	181.8

Operating Income	-3.1	0.8	-21.3	0.2	-3.8

Interest Expense - Non-Operating	-1.2	-1.3	-2.1	-1.5	-1.7
Interest Expense, Net Non-Operating	-1.2	-1.3	-2.1	-1.5	-1.7
Interest Income - Non-Operating	0.0	0.0	0.1	0.7	0.3
Investment Income - Non-Operating	-1.1	-0.1	3.5	3.1	6.9
Interest/Investment Income - Non-Operating	-1.1	-0.1	3.6	3.9	7.2
Interest Income (Expense) - Net Non-Operating Total	-2.4	-1.4	1.5	2.4	5.5
Gain (Loss) on Sale of Assets	-	-	-	0.2	0.3
Other Non-Operating Income (Expense)	-38.9	1.0	1.2	1.2	0.3
Other, Net	-38.9	1.0	1.2	1.2	0.3
Income Before Tax	-44.3	0.3	-18.6	4.0	2.5

Total Income Tax	0.6	0.1	-2.0	0.5	0.1
Income After Tax	-44.9	0.2	-16.6	3.5	2.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extraord Items	-44.9	0.2	-16.6	3.5	2.3
Net Income	-44.9	0.2	-16.6	3.5	2.3

Income Available to Common Excl Extraord Items	-44.9	0.2	-16.6	3.5	2.3

Income Available to Common Incl Extraord Items	-44.9	0.2	-16.6	3.5	2.3

Basic/Primary Weighted Average Shares	437.5	440.8	456.0	456.7	461.2
Basic EPS Excl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Basic/Primary EPS Incl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Dilution Adjustment	0.0	-	0.0	-	-
Diluted Net Income	-44.9	0.2	-16.6	3.5	2.3
Diluted Weighted Average Shares	437.5	440.9	456.0	456.7	461.2
Diluted EPS Excl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Diluted EPS Incl Extraord Items	-0.10	0.00	-0.04	0.01	0.01
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.01	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	3.0	2.3
Interest Expense, Supplemental	1.2	1.3	2.1	1.5	1.7
Interest Capitalized, Supplemental	-0.1	0.0	-0.1	0.0	-0.1
Depreciation, Supplemental	14.7	16.3	17.4	17.8	17.7
Total Special Items	-	-	0.9	0.0	0.3
Normalized Income Before Tax	-44.3	0.3	-17.8	4.0	2.8

Effect of Special Items on Income Taxes	-	-	0.3	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.6	0.1	-1.7	0.5	0.2
Normalized Income After Tax	-44.9	0.2	-16.0	3.5	2.6

Normalized Inc. Avail to Com.	-44.9	0.2	-16.0	3.5	2.6

Basic Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Diluted Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Amort of Intangibles, Supplemental	-	-	-	0.9	0.9
Research & Development Exp, Supplemental	5.4	5.4	5.7	6.7	6.6
Normalized EBIT	-3.1	0.8	-20.4	0.4	-3.1
Normalized EBITDA	11.6	17.1	-3.0	19.1	15.5
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Other Tax	0.0	0.0	0.0	0.0	-0.1
Income Tax - Total	0.6	0.1	-2.0	0.5	0.1
Interest Cost - Domestic	0.3	0.4	0.5	0.4	0.5
Service Cost - Domestic	0.4	0.4	0.5	0.4	0.6
Expected Return on Assets - Domestic	-0.1	-0.2	-0.2	-0.2	-0.2
Transition Costs - Domestic	0.1	0.1	0.1	0.1	0.2
Domestic Pension Plan Expense	0.7	0.7	0.9	0.7	1.0
Total Pension Expense	0.7	0.7	0.9	0.7	1.0
Discount Rate - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Compensation Rate - Domestic	1.25%	1.25%	1.25%	1.50%	1.50%
Total Plan Interest Cost	0.3	0.4	0.5	0.4	0.5
Total Plan Service Cost	0.4	0.4	0.5	0.4	0.6
Total Plan Expected Return	-0.1	-0.2	-0.2	-0.2	-0.2

Interim Income Statement Standardized

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Reclassified Normal 30-Sep-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.146237	28.855204	29.305764	30.350199	31.911435

Net Sales	65.3	61.6	55.9	60.5	48.8
Revenue	65.3	61.6	55.9	60.5	48.8
Other Revenue	0.0	0.2	0.1	-	-
Other Revenue, Total	0.0	0.2	0.1	-	-
Total Revenue	65.3	61.8	56.0	60.5	48.8

Cost of Revenue	57.6	52.0	48.2	53.8	41.4
Cost of Revenue, Total	57.6	52.0	48.2	53.8	41.4
Gross Profit	7.7	9.7	7.7	6.7	7.4

Selling/General/Administrative Expense	6.3	6.5	5.8	6.8	5.8
Total Selling/General/Administrative Expenses	6.3	6.5	5.8	6.8	5.8
Research & Development	1.4	1.4	1.4	1.3	1.4
Total Operating Expense	65.3	59.8	55.4	61.9	48.6

Operating Income	0.0	2.0	0.6	-1.4	0.2

Interest Expense - Non-Operating	-0.5	-0.5	-0.4	-0.4	-0.3
Interest Expense, Net Non-Operating	-0.5	-0.5	-0.4	-0.4	-0.3
Interest Income - Non-Operating	0.0	0.0	0.0	0.0	0.0
Investment Income - Non-Operating	1.9	-1.2	0.5	-2.1	0.2
Interest/Investment Income - Non-Operating	1.9	-1.2	0.5	-2.1	0.2
Interest Income (Expense) - Net Non-Operating Total	1.4	-1.7	0.1	-2.5	-0.1
Other Non-Operating Income (Expense)	0.3	0.6	0.5	-0.1	0.2
Other, Net	0.3	0.6	0.5	-0.1	0.2
Income Before Tax	1.7	1.0	1.1	-4.0	0.3

Total Income Tax	0.0	0.0	0.0	0.0	0.1
Income After Tax	1.7	1.0	1.1	-4.0	0.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extraord Items	1.7	1.0	1.1	-4.0	0.3
Net Income	1.7	1.0	1.1	-4.0	0.3

Income Available to Common Excl Extraord Items	1.7	1.0	1.1	-4.0	0.3

Income Available to Common Incl Extraord Items	1.7	1.0	1.1	-4.0	0.3

Basic/Primary Weighted Average Shares	437.5	437.5	437.5	437.5	437.5
Basic EPS Excl Extraord Items	0.00	0.00	0.00	-0.01	0.00
Basic/Primary EPS Incl Extraord Items	0.00	0.00	0.00	-0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	1.7	1.0	1.1	-4.0	0.3
Diluted Weighted Average Shares	437.5	437.5	437.5	437.5	437.5
Diluted EPS Excl Extraord Items	0.00	0.00	0.00	-0.01	0.00
Diluted EPS Incl Extraord Items	0.00	0.00	0.00	-0.01	0.00
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.5	0.5	0.4	0.4	0.3
Interest Capitalized, Supplemental	0.0	0.0	0.0	0.0	0.0
Depreciation, Supplemental	4.2	4.2	4.0	3.7	3.6
Normalized Income Before Tax	1.7	1.0	1.1	-4.0	0.3

Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.1
Normalized Income After Tax	1.7	1.0	1.1	-4.0	0.3

Normalized Inc. Avail to Com.	1.7	1.0	1.1	-4.0	0.3

Basic Normalized EPS	0.00	0.00	0.00	-0.01	0.00
Diluted Normalized EPS	0.00	0.00	0.00	-0.01	0.00
Research & Development Exp, Supplemental	1.4	1.4	1.4	1.3	1.4
Normalized EBIT	0.0	2.0	0.6	-1.4	0.2
Normalized EBITDA	4.2	6.2	4.5	2.3	3.8

Annual Balance Sheet Standardized

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Cash & Equivalents	13.7	13.7	12.9	12.5	32.1
Short Term Investments	8.5	7.1	5.0	13.0	8.4
Cash and Short Term Investments	22.2	20.8	17.9	25.5	40.4
Accounts Receivable - Trade, Gross	31.8	23.5	22.5	20.4	14.6
Provision for Doubtful Accounts	-2.2	-1.5	-1.4	-1.1	-1.1
Trade Accounts Receivable - Net	30.9	27.6	24.3	23.0	20.8
Notes Receivable - Short Term	0.8	0.3	1.0	0.7	0.7
Other Receivables	-	-	-	-	0.0
Total Receivables, Net	31.6	27.9	25.3	23.6	21.5
Inventories - Finished Goods	50.0	63.2	57.1	73.5	67.4
Inventories - Work In Progress	38.7	19.9	19.7	22.1	22.0
Inventories - Raw Materials	13.1	7.3	6.5	7.6	7.0
Inventories - Other	-	-	-	-9.8	-9.2
Total Inventory	101.8	90.5	83.4	93.4	87.1
Restricted Cash - Current	-	-	-	-	0.0
Deferred Income Tax - Current Asset	2.0	2.2	3.5	2.9	3.0
Other Current Assets	5.7	2.1	2.1	5.4	5.1
Other Current Assets, Total	7.7	4.3	5.5	8.3	8.1
Total Current Assets	163.4	143.5	132.1	150.9	157.1

Buildings	62.7	58.3	54.5	55.6	52.3
Land/Improvements	5.8	5.2	5.1	5.3	5.0
Machinery/Equipment	286.5	276.1	267.3	269.0	259.1
Construction in Progress	4.3	1.1	5.7	2.3	3.7
Other Property/Plant/Equipment	15.0	13.7	13.3	0.0	-
Property/Plant/Equipment - Gross	374.3	354.5	345.9	332.2	320.1
Accumulated Depreciation	-248.5	-237.0	-218.4	-213.6	-197.5
Property/Plant/Equipment - Net	125.7	117.5	127.5	118.6	122.6
LT Investment - Affiliate Companies	0.0	0.6	0.5	0.6	0.6
LT Investments - Other	0.6	2.1	2.5	3.9	5.1
Long Term Investments	0.6	2.7	3.1	4.5	5.7
Pension Benefits - Overfunded	0.4	0.0	0.3	0.5	0.1
Deferred Income Tax - Long Term Asset	5.2	5.0	3.7	2.1	2.1
Other Long Term Assets	2.4	1.8	1.6	2.1	1.9
Other Long Term Assets, Total	7.9	6.8	5.6	4.7	4.1
Total Assets	297.6	270.4	268.2	278.8	289.5

Accounts Payable	30.7	18.0	19.6	18.3	28.6
Accrued Expenses	8.6	6.5	5.9	5.3	5.5
Notes Payable/Short Term Debt	45.2	25.8	24.2	29.2	13.9
Current Portion - Long Term Debt/Capital Leases	32.4	26.2	22.7	16.5	25.5
Income Taxes Payable	0.0	0.0	0.2	0.4	0.1
Other Payables	5.2	2.7	0.8	-	24.1
Other Current Liabilities	2.5	1.5	1.1	4.0	1.1
Other Current liabilities, Total	7.6	4.3	2.1	4.3	25.3
Total Current Liabilities	124.5	80.8	74.5	73.6	98.8

Long Term Debt	40.8	25.1	34.8	31.5	26.7
Total Long Term Debt	40.8	25.1	34.8	31.5	26.7
Total Debt	118.4	77.1	81.7	77.2	66.1

Minority Interest	0.0	0.0	0.0	0.0	0.0
Reserves	5.7	5.2	5.0	0.0	-
Pension Benefits - Underfunded	8.0	6.5	6.2	6.0	4.9
Other Long Term Liabilities	0.0	0.0	0.0	0.0	-
Other Liabilities, Total	13.7	11.7	11.2	6.1	4.9
Total Liabilities	179.0	117.6	120.5	111.2	130.4

Common Stock	161.6	147.3	149.4	151.2	150.5
Common Stock	161.6	147.3	149.4	151.2	150.5
Additional Paid-In Capital	4.1	3.7	7.6	7.4	7.3
Retained Earnings (Accumulated Deficit)	-48.3	0.2	-6.9	12.4	11.2
Treasury Stock - Common	-7.9	-7.2	-8.0	-7.1	-7.0
Unrealized Gain (Loss)	1.5	0.8	-2.6	-4.9	-6.4
Translation Adjustment	7.7	8.0	8.1	8.6	3.5
Minimum Pension Liability Adjustment	-0.1	-	-	-0.2	0.0
Other Equity, Total	7.5	8.0	8.1	8.4	3.5
Total Equity	118.6	152.8	147.7	167.5	159.1

Total Liabilities & Shareholders’ Equity	297.6	270.4	268.2	278.8	289.5

Shares Outstanding - Common Stock Primary Issue	437.5	437.5	448.9	456.7	456.7
Total Common Shares Outstanding	437.5	437.5	448.9	456.7	456.7
Treasury Shares - Common Stock Primary Issue	33.7	33.7	41.5	33.7	33.7
Employees	3,108	2,704	2,901	2,935	2,895
Number of Common Shareholders	18,905	19,532	20,568	21,459	23,224
Total Operating Leases, Supplemental	14.3	-	-	-	-
Operating Lease Payments Due in Year 1	1.8	-	-	-	-
Operating Lease Payments Due in Year 2	1.2	-	-	-	-
Operating Lease Payments Due in Year 3	0.9	-	-	-	-
Operating Lease Payments Due in Year 4	10.5	-	-	-	-
Operating Lease Payments Due in Year 5	0.0	-	-	-	-
Operating Lease Pymts. Due in 2-3 Years	2.0	-	-	-	-
Operating Lease Pymts. Due in 4-5 Years	10.5	-	-	-	-
Oper. Lse. Pymts. Due in Year 6 & Beyond	0.0	-	-	-	-
Pension Obligation - Domestic	18.2	16.2	15.8	16.0	14.6
Plan Assets - Domestic	7.9	7.4	7.3	7.5	7.2
Funded Status - Domestic	-10.3	-8.8	-8.5	-8.5	-7.4
Accumulated Obligation - Domestic	15.9	13.9	13.5	13.5	12.2
Total Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Discount Rate - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	3.00%	2.75%
Compensation Rate - Domestic	1.25%	1.25%	1.25%	1.50%	1.50%
Prepaid Benefits - Domestic	0.4	0.0	0.3	0.5	0.1
Accrued Liabilities - Domestic	-8.0	-6.5	-6.2	-6.0	-4.9
Net Assets Recognized on Balance Sheet	-7.6	-6.5	-5.8	-5.5	-4.8
Total Plan Obligations	18.2	16.2	15.8	16.0	14.6
Total Plan Assets	7.9	7.4	7.3	7.5	7.2

Interim Balance Sheet Standardized

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Reclassified Normal 30-Sep-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.475	28.7235	29.4065	29.1565	31.2415

Cash & Equivalents	10.1	9.0	7.6	13.7	14.0
Short Term Investments	6.2	7.7	8.0	8.5	7.5
Cash and Short Term Investments	16.3	16.7	15.6	22.2	21.5
Accounts Receivable - Trade, Gross	23.8	21.0	26.3	31.8	28.9
Provision for Doubtful Accounts	-1.1	-1.3	-2.0	-2.2	-2.0
Trade Accounts Receivable - Net	23.0	19.8	24.7	30.9	31.7
Notes Receivable - Short Term	1.4	1.1	1.7	0.8	1.2
Other Receivables	0.9	1.0	3.5	-	0.8
Total Receivables, Net	25.3	21.9	29.9	31.6	33.7
Inventories - Finished Goods	70.4	74.9	60.6	50.0	56.9
Inventories - Work In Progress	27.5	24.1	40.6	38.7	20.1
Inventories - Raw Materials	7.0	9.3	7.8	13.1	5.7
Total Inventory	104.9	108.3	109.0	101.8	82.7
Deferred Income Tax - Current Asset	1.5	1.7	1.8	2.0	1.8
Other Current Assets	4.2	3.5	2.4	5.7	3.4
Other Current Assets, Total	5.7	5.2	4.2	7.7	5.2
Total Current Assets	152.1	152.0	158.6	163.4	143.1

Buildings	63.2	65.7	64.5	62.7	56.7
Land/Improvements	5.5	5.8	5.7	5.8	5.5
Machinery/Equipment	280.7	294.3	286.2	286.5	263.9
Construction in Progress	1.8	1.8	2.2	4.3	10.9
Other Property/Plant/Equipment	14.4	15.2	14.9	15.0	14.0
Property/Plant/Equipment - Gross	365.6	382.9	373.5	374.3	351.1
Accumulated Depreciation	-244.0	-255.6	-248.4	-248.5	-231.6
Property/Plant/Equipment - Net	121.6	127.3	125.1	125.7	119.5
LT Investment - Affiliate Companies	0.0	0.0	0.0	0.0	0.6
LT Investments - Other	0.4	0.4	0.5	0.6	0.4
Long Term Investments	0.4	0.4	0.5	0.6	1.0
Pension Benefits - Overfunded	0.3	0.4	0.4	0.4	0.0
Deferred Income Tax - Long Term Asset	5.4	5.6	5.4	5.2	4.9
Other Long Term Assets	2.6	2.7	2.7	2.4	2.1
Other Long Term Assets, Total	8.4	8.7	8.4	7.9	7.0
Total Assets	282.6	288.4	292.6	297.6	270.6

Accounts Payable	17.6	15.6	22.8	30.7	24.0
Accrued Expenses	9.1	8.0	7.2	8.6	7.9
Notes Payable/Short Term Debt	48.6	44.8	49.2	45.2	43.2
Current Portion - Long Term Debt/Capital Leases	19.5	20.5	18.3	32.4	34.7
Income Taxes Payable	-	0.0	0.0	0.0	-
Other Payables	6.5	11.7	5.2	5.2	3.9
Other Current Liabilities	1.2	1.3	1.2	2.5	2.0
Other Current liabilities, Total	7.7	13.0	6.4	7.6	5.8
Total Current Liabilities	102.6	101.9	103.9	124.5	115.7

Long Term Debt	48.5	50.4	56.2	40.8	26.3
Total Long Term Debt	48.5	50.4	56.2	40.8	26.3
Total Debt	116.6	115.6	123.7	118.4	104.2

Minority Interest	0.0	0.0	0.0	0.0	0.0
Reserves	5.4	5.8	5.6	5.7	5.3
Pension Benefits - Underfunded	8.1	8.5	8.1	-	6.9
Other Long Term Liabilities	0.1	0.1	0.1	8.0	0.1
Other Liabilities, Total	13.7	14.3	13.8	13.7	12.3
Total Liabilities	164.7	166.6	173.9	179.0	154.3

Common Stock	154.6	164.0	160.2	161.6	150.8
Common Stock	154.6	164.0	160.2	161.6	150.8
Additional Paid-In Capital	3.9	4.2	4.1	4.1	3.8
Retained Earnings (Accumulated Deficit)	-42.6	-46.9	-46.8	-48.3	-41.2
Treasury Stock - Common	-7.5	-8.0	-7.8	-7.9	-7.3
Unrealized Gain (Loss)	0.2	1.3	1.1	1.5	1.0
Translation Adjustment	9.4	7.3	7.9	7.7	9.3
Minimum Pension Liability Adjustment	-0.1	-0.1	-0.1	-0.1	-
Other Equity, Total	9.3	7.2	7.8	7.5	9.3
Total Equity	117.9	121.8	118.7	118.6	116.4

Total Liabilities & Shareholders’ Equity	282.6	288.4	292.6	297.6	270.6

Shares Outstanding - Common Stock Primary Issue	437.5	437.5	437.5	437.5	437.5
Total Common Shares Outstanding	437.5	437.5	437.5	437.5	437.5
Treasury Shares - Common Stock Primary Issue	33.7	33.7	33.7	33.7	33.7
Employees	3,077	3,059	3,091	3,108	2,893
Total Operating Leases, Supplemental	13.7	13.7	13.9	14.3	-
Operating Lease Payments Due in Year 1	0.5	0.9	1.4	1.8	-
Operating Lease Payments Due in Year 2	1.4	1.2	1.2	1.2	-
Operating Lease Payments Due in Year 3	0.9	0.9	0.9	0.9	-
Operating Lease Payments Due in Year 4	0.8	0.8	0.8	10.5	-
Operating Lease Payments Due in Year 5	-	-	9.7	0.0	-
Operating Lease Pymts. Due in 2-3 Years	2.3	2.1	2.0	2.0	-
Operating Lease Pymts. Due in 4-5 Years	0.8	0.8	10.5	10.5	-
Oper. Lse. Pymts. Due in Year 6 & Beyond	10.0	9.9	0.0	0.0	-
Prepaid Benefits - Domestic	0.3	0.4	0.4	0.4	0.0
Accrued Liabilities - Domestic	-8.1	-8.5	-8.1	-	-6.9
Net Assets Recognized on Balance Sheet	-7.8	-8.1	-7.7	0.4	-6.9

Annual Cash Flows

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Income/Starting Line	-44.9	0.2	-16.6	3.5	2.3
Depreciation	14.7	16.3	17.4	17.8	17.7
Depreciation/Depletion	14.7	16.3	17.4	17.8	17.7
Unusual Items	1.0	-1.0	4.8	-1.7	-1.9
Equity in Net Earnings (Loss)	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	41.4	1.5	-0.1	1.6	1.7
Non-Cash Items	42.5	0.5	4.7	0.0	-0.2
Accounts Receivable	-1.5	-2.0	-2.6	-2.1	-9.4
Inventories	-32.7	-4.1	2.0	-6.4	-15.9
Other Assets	-2.6	0.0	3.1	-0.2	-1.2
Accounts Payable	11.2	-0.1	2.3	-12.3	22.1
Accrued Expenses	1.4	0.4	0.7	-0.2	0.7
Taxes Payable	0.0	-0.1	-0.2	0.3	-0.1
Other Liabilities	3.9	1.2	-3.8	-0.8	6.1
Changes in Working Capital	-20.4	-4.7	1.6	-21.7	2.4
Cash from Operating Activities	-8.1	12.3	7.0	-0.5	22.2

Purchase of Fixed Assets	-22.5	-4.5	-14.2	-31.2	-18.4
Capital Expenditures	-22.5	-4.5	-14.2	-31.2	-18.4
Sale of Fixed Assets	0.3	0.4	-	0.1	0.0
Sale/Maturity of Investment	1.8	2.0	17.1	25.2	32.0
Purchase of Investments	-	0.0	-11.8	-25.0	-5.1
Other Investing Cash Flow	-0.9	-0.8	-0.2	-1.1	-2.9
Other Investing Cash Flow Items, Total	1.2	1.5	5.2	-0.8	24.0
Cash from Investing Activities	-21.2	-3.0	-9.0	-32.0	5.6

Other Financing Cash Flow	0.0	-0.1	-0.1	-0.1	0.0
Financing Cash Flow Items	0.0	-0.1	-0.1	-0.1	0.0
Cash Dividends Paid - Common	-	0.0	-2.9	-2.1	0.0
Total Cash Dividends Paid	-	0.0	-2.9	-2.1	0.0
Repurchase/Retirement of Common	0.0	-1.9	-1.0	0.0	-2.0
Common Stock, Net	0.0	-1.9	-1.0	0.0	-2.0
Issuance (Retirement) of Stock, Net	0.0	-1.9	-1.0	0.0	-2.0
Short Term Debt, Net	12.4	0.5	-4.0	18.9	-12.7
Long Term Debt Issued	296.2	148.2	106.8	154.3	155.6
Long Term Debt Reduction	-280.6	-155.6	-96.1	-158.7	-149.0
Long Term Debt, Net	15.6	-7.4	10.7	-4.3	6.6
Issuance (Retirement) of Debt, Net	28.0	-6.9	6.6	14.6	-6.1
Cash from Financing Activities	28.0	-8.9	2.6	12.4	-8.1

Foreign Exchange Effects	0.1	0.0	0.0	0.6	-0.7
Net Change in Cash	-1.3	0.4	0.6	-19.5	19.0

Net Cash - Beginning Balance	13.9	12.9	12.8	31.8	13.1
Net Cash - Ending Balance	12.7	13.3	13.5	12.3	32.1
Cash Interest Paid	1.2	1.3	2.2	1.4	1.7
Cash Taxes Paid	0.0	0.1	0.3	0.2	0.1

Interim Cash Flows Standardized

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.099862	29.074238	29.305764	31.497037	31.886422

Net Income/Starting Line	3.8	2.1	1.1	-44.9	-40.6
Depreciation	12.4	8.2	4.0	14.7	10.9
Depreciation/Depletion	12.4	8.2	4.0	14.7	10.9
Unusual Items	-0.2	-0.3	-0.2	1.0	-0.1
Equity in Net Earnings (Loss)	0.0	-	-	0.0	0.0
Other Non-Cash Items	0.8	0.3	0.4	41.4	40.6
Non-Cash Items	0.6	0.1	0.3	42.5	40.5
Accounts Receivable	6.3	11.7	3.5	-1.5	-5.1
Inventories	-8.2	-4.8	-8.1	-32.7	-19.8
Other Assets	1.8	1.6	1.3	-2.6	-0.9
Accounts Payable	-10.5	-10.1	-8.0	11.2	6.4
Accrued Expenses	1.0	-0.7	-1.3	1.4	0.9
Taxes Payable	0.0	0.0	0.0	0.0	0.0
Other Liabilities	-5.3	-4.5	-3.3	3.9	0.9
Changes in Working Capital	-14.9	-6.8	-16.0	-20.4	-17.9
Cash from Operating Activities	1.8	3.6	-10.6	-8.1	-7.1

Purchase of Fixed Assets	-11.6	-7.6	-3.8	-22.5	-18.4
Capital Expenditures	-11.6	-7.6	-3.8	-22.5	-18.4
Sale of Fixed Assets	0.1	0.1	0.1	0.3	0.3
Sale/Maturity of Investment	0.0	1.9	-	1.8	1.7
Purchase of Investments	-	-1.4	-	-	-
Other Investing Cash Flow	-1.0	-0.6	-0.3	-0.9	-0.6
Other Investing Cash Flow Items, Total	-0.9	0.0	-0.2	1.2	1.4
Cash from Investing Activities	-12.5	-7.6	-4.0	-21.2	-17.0

Other Financing Cash Flow	0.1	0.1	0.1	0.0	0.1
Financing Cash Flow Items	0.1	0.1	0.1	0.0	0.1
Repurchase/Retirement of Common	-	-	-	0.0	0.0
Common Stock, Net	-	-	-	0.0	0.0
Issuance (Retirement) of Stock, Net	-	-	-	0.0	0.0
Short Term Debt, Net	6.8	-0.5	6.5	12.4	15.9
Long Term Debt Issued	228.5	144.4	78.5	296.2	211.1
Long Term Debt Reduction	-227.8	-144.9	-76.5	-280.6	-202.8
Long Term Debt, Net	0.7	-0.5	2.0	15.6	8.3
Issuance (Retirement) of Debt, Net	7.5	-1.0	8.5	28.0	24.2
Cash from Financing Activities	7.5	-0.9	8.6	28.0	24.3

Foreign Exchange Effects	0.0	0.0	0.0	0.1	-0.2
Net Change in Cash	-3.2	-4.8	-6.0	-1.3	0.0

Net Cash - Beginning Balance	13.7	13.7	13.6	13.9	13.8
Net Cash - Ending Balance	10.5	8.9	7.6	12.7	13.8
Cash Interest Paid	1.4	0.9	0.4	1.2	0.8
Cash Taxes Paid	0.0	-	-	0.0	0.0

Annual Income Statement As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Gross Sales	-	-	-	221.9	178.0
Processing Fees Income	-	-	-	0.0	0.0
Net Sales	195.2	168.0	194.5	-	-
Total Revenue	195.2	168.0	194.5	221.9	178.1

Cost of Sales	168.8	141.2	187.2	193.4	152.9
Processing Costs	-	-	-	0.0	0.2
Selling Expenses	16.6	13.7	15.7	15.5	13.2
General and Administrative Expenses	7.5	6.9	6.3	5.5	5.0
Research and Development Expenses	5.4	5.4	5.7	6.7	6.6
Loss on Physical Inventory	-	-	-	0.1	0.2
Loss on Inventory	-	-	-	0.4	3.0
Impairment Loss	-	-	0.9	0.2	0.6
Total Operating Expense	198.3	167.3	215.8	221.7	181.8

Interest Income	0.0	0.0	0.1	0.7	0.3
Gain/Loss on Equity Investment	-	-	0.0	0.0	0.0
Dividend Income	-	-	0.2	0.3	0.4
Gain on Sale of Investments	0.2	0.2	2.9	2.4	5.6
Gain on Sale of Scrap & Waste	-	-	-	0.3	0.4
Government Subsidy	-	-	0.4	0.3	0.4
Miscellaneous Income	1.5	1.6	1.4	1.5	0.3
Interest Expense	-1.2	-1.3	-2.1	-1.5	-1.7
Loss on Other Investments	-	-	-	-0.1	0.0
Loss on Sale of Fixed Assets	-	-	-	-0.1	0.0
Gain/Loss on Foreign Exchange	-1.3	-0.3	0.4	0.5	0.8
Disaster Losses	-39.0	0.0	-	-	-
Miscellaneous Disbursements	-1.3	-0.7	-0.6	-0.5	-0.5
Net Income Before Taxes	-44.3	0.3	-18.6	4.0	2.5

Provision for Income Taxes	0.6	0.1	-2.0	0.5	0.1
Net Income After Taxes	-44.9	0.2	-16.6	3.5	2.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extra. Items	-44.9	0.2	-16.6	3.5	2.3
Net Income	-44.9	0.2	-16.6	3.5	2.3

Income Available to Com Excl ExtraOrd	-44.9	0.2	-16.6	3.5	2.3

Income Available to Com Incl ExtraOrd	-44.9	0.2	-16.6	3.5	2.3

Basic Weighted Average Shares	437.5	440.8	456.0	456.7	461.2
Basic EPS Excluding ExtraOrdinary Items	-0.10	0.00	-0.04	0.01	0.01
Basic EPS Including ExtraOrdinary Items	-0.10	0.00	-0.04	0.01	0.01
Dilution Adjustment	0.0	-	0.0	-	-
Diluted Net Income	-44.9	0.2	-16.6	3.5	2.3
Diluted Weighted Average Shares	437.5	440.9	456.0	456.7	461.2
Diluted EPS Excluding ExtraOrd Items	-0.10	0.00	-0.04	0.01	0.01
Diluted EPS Including ExtraOrd Items	-0.10	0.00	-0.04	0.01	0.01
DPS-Common Stock	0.00	0.00	0.00	0.01	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	3.0	2.3
Normalized Income Before Taxes	-44.3	0.3	-17.8	4.0	2.8

Inc Tax Ex Impact of Sp Items	0.6	0.1	-1.7	0.5	0.2
Normalized Income After Taxes	-44.9	0.2	-16.0	3.5	2.6

Normalized Inc. Avail to Com.	-44.9	0.2	-16.0	3.5	2.6

Basic Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Diluted Normalized EPS	-0.10	0.00	-0.04	0.01	0.01
Interest Expense, Supplemental	1.2	1.3	2.1	1.5	1.7
Interest Capitalized	-0.1	0.0	-0.1	0.0	-0.1
R&D Expense, Supplemental	5.4	5.4	5.7	6.7	6.6
Depreciation - Operating Cost	13.7	14.9	15.9	16.4	16.4
Depreciation - Operating Expense	0.9	1.4	1.5	1.4	1.3
Amortization - Operating Cost	-	-	-	0.8	0.6
Amortization - Operating Expense	-	-	-	0.1	0.2
Current Tax Payable	0.0	0.0	0.1	0.4	0.1
Current Tax - Total	0.0	0.0	0.1	0.4	0.1
Deferred Tax	0.6	0.2	-2.2	0.0	0.1
Deferred Tax - Total	0.6	0.2	-2.2	0.0	0.1
Others	0.0	0.0	0.0	0.0	-0.1
Income Tax - Total	0.6	0.1	-2.0	0.5	0.1
Service Cost	0.4	0.4	0.5	0.4	0.6
Interest Cost	0.3	0.4	0.5	0.4	0.5
Expected Return on Plan Assets	-0.1	-0.2	-0.2	-0.2	-0.2
Amort. Transitional Benefit Obligation	0.1	0.1	0.1	0.1	0.2
Domestic Pension Plan Expense	0.7	0.7	0.9	0.7	1.0
Total Pension Expense	0.7	0.7	0.9	0.7	1.0
Discount Rate	2.00%	2.00%	2.50%	3.00%	2.75%
Rate of Compensation Increase	1.25%	1.25%	1.25%	1.50%	1.50%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	3.00%	2.75%

Interim Income Statement As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Reclassified Normal 30-Sep-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.146237	28.855204	29.305764	30.350199	31.911435

Net Sales	65.3	61.6	55.9	60.5	48.8
Other Operating Revenue,net	0.0	0.2	0.1	-	-
Total Revenue	65.3	61.8	56.0	60.5	48.8

Cost of Sales	57.6	52.0	48.2	53.8	41.4
Selling Expense	4.6	4.9	4.2	4.7	4.0
General and Administrative Expenses	1.9	2.0	2.0	2.0	1.9
Research and Development Expenses	1.4	1.4	1.4	1.3	1.4
Gains on Bad Debt Recoveries	-0.2	-0.4	-0.3	-	-
Total Operating Expense	65.3	59.8	55.4	61.9	48.6

Interest Income	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Equity Investment	0.0	0.0	-	0.0	0.0
Gains on Sale of Investments	0.0	0.0	0.2	0.2	0.2
Foreign Exchange Gains/Losses	1.9	-1.2	0.4	-2.3	0.0
Miscellaneous Income	0.5	0.7	0.6	0.2	0.3
Interest Expense	-0.5	-0.5	-0.4	-0.4	-0.3
Loss on Fire Disaster	0.0	0.0	0.0	0.0	0.0
Miscellaneous Disbursements	-0.2	-0.1	-0.1	-0.3	-0.1
Net Income Before Taxes	1.7	1.0	1.1	-4.0	0.3

Provision for Income Taxes	0.0	0.0	0.0	0.0	0.1
Net Income After Taxes	1.7	1.0	1.1	-4.0	0.3

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extra. Items	1.7	1.0	1.1	-4.0	0.3
Net Income	1.7	1.0	1.1	-4.0	0.3

Income Available to Com Excl ExtraOrd	1.7	1.0	1.1	-4.0	0.3

Income Available to Com Incl ExtraOrd	1.7	1.0	1.1	-4.0	0.3

Basic Weighted Average Shares	437.5	437.5	437.5	437.5	437.5
Basic EPS Excluding ExtraOrdinary Items	0.00	0.00	0.00	-0.01	0.00
Basic EPS Including ExtraOrdinary Items	0.00	0.00	0.00	-0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	1.7	1.0	1.1	-4.0	0.3
Diluted Weighted Average Shares	437.5	437.5	437.5	437.5	437.5
Diluted EPS Excluding ExtraOrd Items	0.00	0.00	0.00	-0.01	0.00
Diluted EPS Including ExtraOrd Items	0.00	0.00	0.00	-0.01	0.00
DPS-Common Stock	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	1.7	1.0	1.1	-4.0	0.3

Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.1
Normalized Income After Taxes	1.7	1.0	1.1	-4.0	0.3

Normalized Inc. Avail to Com.	1.7	1.0	1.1	-4.0	0.3

Basic Normalized EPS	0.00	0.00	0.00	-0.01	0.00
Diluted Normalized EPS	0.00	0.00	0.00	-0.01	0.00
Interest Expense, Supplemental	0.5	0.5	0.4	0.4	0.3
Interest Capitalized	0.0	0.0	0.0	0.0	0.0
R&D Expense, Supplemental	1.4	1.4	1.4	1.3	1.4
Depreciation, Supplemental	4.2	4.2	4.0	3.7	3.6

Annual Balance Sheet As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Cash and Cash Equivalent	13.7	13.7	12.9	12.5	32.1
Financial Assets-Available for Sale	8.5	7.1	5.0	13.0	8.4
Notes Receivable	0.8	0.3	1.0	0.7	0.7
Accounts Receivable, Gross	31.8	23.5	22.5	20.4	14.6
Provision for Doubtful Accounts	-2.2	-1.5	-1.3	-1.0	-1.0
Provision for Sales Discount	-0.1	-0.1	-0.1	-0.1	-0.1
Receivables due from Related Parties	1.3	5.6	3.2	3.7	7.3
Other Receivables - Related Parties	-	-	-	-	0.0
Finished Goods	50.0	63.2	57.1	73.5	58.9
Work-in-Process	38.7	19.9	19.7	22.1	22.0
Raw Material	10.3	5.2	4.1	5.5	5.2
Supplies	2.9	2.1	2.4	2.0	1.7
Merchandise	-	-	-	-	8.5
Materials in Transit	-	-	-	-	0.1
Provision/Allowance for Inventory	-	-	-	-9.8	-9.2
Deferred Income Tax Assets - Current	2.0	2.2	3.5	2.9	3.0
Restricted Assets	-	-	-	-	0.0
Other Current Assets	5.7	2.1	2.1	5.4	5.1
Total Current Assets	163.4	143.5	132.1	150.9	157.1

Long Term Equity Investment	0.0	0.6	0.5	0.6	0.6
Long Term Investment - Cost Method	0.6	2.1	2.5	3.9	5.1
Land and Improvements	5.8	5.2	5.1	5.3	5.0
Buildings and Structures	62.7	58.3	54.5	55.6	52.3
Machinery and Equipment	271.8	262.7	254.4	255.9	247.2
Transportation Equipment	3.2	2.9	2.9	3.1	3.1
Office Equipment	8.4	8.4	8.4	8.5	7.9
Miscellaneous Equipment	3.2	2.1	1.7	1.4	0.9
Assets Revaluation Increment	15.0	13.7	13.3	0.0	-
Accumulated Depreciation	-248.5	-237.0	-218.4	-213.6	-197.5
Construction in Progress	1.9	0.8	-	-	-
Prepayment for Equipment	2.4	0.3	-	-	-
Construction in Progress & Equipment	-	-	5.7	2.3	3.7
Deferred Pension Cost	0.4	0.0	0.3	0.5	0.1
Security Deposit Paid	0.4	0.3	0.3	0.6	0.4
Deferred Income Tax Assets - Non Current	5.2	5.0	3.7	2.1	2.1
Other Long Term Assets	2.0	1.4	1.3	1.4	1.4
Total Assets	297.6	270.4	268.2	278.8	289.5

Short Term Borrowings	9.9	11.5	16.1	18.7	5.7
Short Term Bills Payable	29.1	11.9	6.1	7.7	1.5
Notes Payable	4.6	2.3	2.0	2.7	6.7
Notes Payable - Related Parties	1.6	0.1	-	-	-
Accounts Payable	25.4	15.2	17.3	15.4	8.6
Accounts Payable - Related Parties	5.3	2.8	2.2	2.9	20.0
Other Payables,Related Parties	5.2	2.7	0.8	-	24.1
Income Taxes Payable	0.0	0.0	0.2	0.4	0.1
Accrued Expenses	8.6	6.5	5.9	5.3	5.5
Current Portion of Long Term Debt	32.4	26.2	22.7	16.5	25.5
Other Current Liabilities	2.5	1.5	1.1	4.0	1.1
Total Current Liabilities	124.5	80.8	74.5	73.6	98.8

Long Term Borrowings	40.8	25.1	34.8	31.5	26.7
Total Long Term Debt	40.8	25.1	34.8	31.5	26.7

Land Reval. Increment Tax Reserve	5.7	5.2	5.0	0.0	-
Accrued Pension Liabilities	8.0	6.5	6.2	6.0	4.9
Security Deposit Received	0.0	0.0	0.0	0.0	-
Minority Interest	0.0	0.0	0.0	0.0	0.0
Total Liabilities	179.0	117.6	120.5	111.2	130.4

Common Stock	161.6	147.3	149.4	151.2	150.5
Cap. Surplus, Treasury Stock Transaction	4.1	3.7	7.6	7.4	7.3
Legal Reserve	0.0	0.0	4.8	4.5	4.3
Legal Special Reserve	-	-	-	2.4	4.6
Retained Earnings	-48.4	0.2	-11.7	5.5	2.3
Unrealized G/L on Financial Instruments	-7.8	-7.8	-10.9	-4.9	-6.4
Cumulative Translation Adjustment	7.7	8.0	8.1	8.6	3.5
Unrealized Gain/Loss on Pension Fund	-0.1	-	-	-0.2	0.0
Unrealized Revaluation Increment	9.3	8.5	8.3	0.0	-
Treasury Stock	-7.9	-7.2	-8.0	-7.1	-7.0
Total Equity	118.6	152.8	147.7	167.5	159.1

Total Liabilities & Shareholders' Equity	297.6	270.4	268.2	278.8	289.5

S/O-Common Stock	437.5	437.5	448.9	456.7	456.7
Total Common Shares Outstanding	437.5	437.5	448.9	456.7	456.7
T/S-Common Stock	33.7	33.7	41.5	33.7	33.7
Full-Time Employees	3,108	2,704	2,901	2,935	2,895
Number of Common Shareholders	18,905	19,532	20,568	21,459	23,224
Operating Lease Pymts. Due within 1Year	1.8	-	-	-	-
Operating Lease Payments Due in Year 2	1.2	-	-	-	-
Operating Lease Payments Due in Year 3	0.9	-	-	-	-
Operating Lease Payments Due in Year 4	10.5	-	-	-	-
Operating Lease Payments Due in Year 5	0.0	-	-	-	-
Total Operating Leases	14.3	-	-	-	-
Benefit Obligation	18.2	16.2	15.8	16.0	14.6
Fair Value of Plan Assets	7.9	7.4	7.3	7.5	7.2
Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Accumulated Benefit Obligation	15.9	13.9	13.5	13.5	12.2
Total Funded Status	-10.3	-8.8	-8.5	-8.5	-7.4
Discount Rate	2.00%	2.00%	2.50%	3.00%	2.75%
Rate of Compensation Increase	1.25%	1.25%	1.25%	1.50%	1.50%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	3.00%	2.75%
Deferred Pension Cost	0.4	0.0	0.3	0.5	0.1
Accrued Pension Liabilities	-8.0	-6.5	-6.2	-6.0	-4.9
Net Assets Recognized on Balance Sheet	-7.6	-6.5	-5.8	-5.5	-4.8

Interim Balance Sheet As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Reclassified Normal 30-Sep-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.475	28.7235	29.4065	29.1565	31.2415

Cash and Cash Equivalent	10.1	9.0	7.6	13.7	14.0
Financial Assets-Available for Sale	6.2	7.7	8.0	8.5	7.5
Notes Receivable	1.4	1.1	1.7	0.8	1.2
Accounts Receivable, Gross	23.8	21.0	26.3	31.8	28.9
Provision for Doubtful Accounts	-1.0	-1.3	-1.7	-2.2	-1.9
Provision for Sales Discount	-0.1	-0.1	-0.3	-0.1	-0.1
Receivables due from Related Parties	0.2	0.2	0.4	1.3	4.8
Other Receivable	0.9	1.0	3.5	-	0.8
Finished Goods	70.4	74.9	60.6	50.0	56.9
Work-in-Process	27.5	24.1	40.6	38.7	20.1
Raw Material	5.3	6.7	6.4	10.3	4.4
Supplies	1.7	1.8	1.5	2.9	1.3
Materials in Transit	-	0.7	-	-	-
Deferred Income Tax Assets - Current	1.5	1.7	1.8	2.0	1.8
Other Current Assets	4.2	3.5	2.4	5.7	3.4
Total Current Assets	152.1	152.0	158.6	163.4	143.1

Long Term Equity Investment	0.0	0.0	0.0	0.0	0.6
Financial Assets - Cost Method	0.4	0.4	0.5	0.6	0.4
Land	5.5	5.8	5.7	5.8	5.5
Buildings and Structures	63.2	65.7	64.5	62.7	56.7
Machinery and Equipment	265.0	278.3	270.0	271.8	249.3
Transportation Equipment	3.1	3.3	3.2	3.2	2.8
Office Equipment	7.9	8.2	8.4	8.4	7.9
Miscellaneous Equipment	4.7	4.6	4.6	3.2	4.0
Assets Revaluation Increment - Land	14.4	15.2	14.9	15.0	14.0
Accumulated Depreciation	-244.0	-255.6	-248.4	-248.5	-231.6
Construction in Progress	1.0	1.3	1.4	1.9	9.6
Prepayment for Equipment	0.8	0.6	0.8	2.4	1.4
Deferred Pension Cost	0.3	0.4	0.4	0.4	0.0
Security Deposit Paid	0.3	0.3	0.3	0.4	0.3
Deferred Income Tax Assets - Non Current	5.4	5.6	5.4	5.2	4.9
Other Long Term Assets	2.4	2.4	2.4	2.0	1.7
Total Assets	282.6	288.4	292.6	297.6	270.6

Short Term Borrowings	30.2	26.3	21.4	9.9	14.6
Short Term Bills Payable	16.4	15.7	23.8	29.1	25.6
Notes Payable	1.3	2.5	3.4	4.6	2.8
Notes Payable - Related Parties	0.7	0.4	0.6	1.6	0.2
Accounts Payable	13.7	11.8	19.5	25.4	18.8
Accounts Payables - Related Parties	3.9	3.8	3.3	5.3	5.2
Income Taxes Payable	-	0.0	0.0	0.0	-
Accrued Expenses, Total	9.1	8.0	7.2	8.6	7.9
Other Payables	1.3	-	-	-	1.0
Other Payables,Related Parties	5.3	11.7	5.2	5.2	2.9
Current Portion of Long Term Debt	19.5	20.5	18.3	32.4	34.7
Other Current Liabilities	1.2	1.3	1.2	2.5	2.0
Total Current Liabilities	102.6	101.9	103.9	124.5	115.7

Long Term Borrowings	48.5	50.4	56.2	40.8	26.3
Total Long Term Debt	48.5	50.4	56.2	40.8	26.3

Land Revaluation Increment Tax Reserve	5.4	5.8	5.6	5.7	5.3
Accrued Pension Liabilities	8.1	8.5	8.1	-	6.9
Security Deposit	0.1	0.1	0.1	0.0	0.1
Minority Interest	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	-	-	-	8.0	-
Total Liabilities	164.7	166.6	173.9	179.0	154.3

Common Stock	154.6	164.0	160.2	161.6	150.8
Cap. Surplus, Treasury Stock Transaction	3.9	4.2	4.1	4.1	3.8
Legal Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	-46.3	-46.9	-47.9	-48.4	0.2
G/L belong to Parent Shareholder	3.6	-	1.1	-	-41.4
Cumulative Translation Adjustment	9.4	7.3	7.9	7.7	9.3
Unrealized Gain/Loss on Pension Fund	-0.1	-0.1	-0.1	-0.1	-
Unrealized G/L on Financial Instruments	-8.7	-8.1	-8.1	-7.8	-7.7
Unrealized Revaluation Increment	8.9	9.5	9.3	9.3	8.7
Treasury Stock	-7.5	-8.0	-7.8	-7.9	-7.3
Total Equity	117.9	121.8	118.7	118.6	116.4

Total Liabilities & Shareholders' Equity	282.6	288.4	292.6	297.6	270.6

S/O-Common Stock	437.5	437.5	437.5	437.5	437.5
Total Common Shares Outstanding	437.5	437.5	437.5	437.5	437.5
T/S-Common Stock	33.7	33.7	33.7	33.7	33.7
Full-Time Employees	3,077	3,059	3,091	3,108	2,893
Operating Lease Pymts. Due within 1Year	0.5	0.9	1.4	1.8	-
Operating Lease Payments Due in Year 2	1.4	1.2	1.2	1.2	-
Operating Lease Payments Due in Year 3	0.9	0.9	0.9	0.9	-
Operating Lease Payments Due in Year 4	0.8	0.8	0.8	10.5	-
Operating Lease Payments Due in Year 5	-	-	9.7	0.0	-
Operating Leases - Remaining Payments	10.0	9.9	-	-	-
Total Operating Leases, Supplemental	13.7	13.7	13.9	14.3	-
Deferred Pension Cost	0.3	0.4	0.4	0.4	0.0
Accrued Pension Liabilities	-8.1	-8.5	-8.1	-	-6.9
Net Assets Recognized on Balance Sheet	-7.8	-8.1	-7.7	0.4	-6.9

Annual Cash Flows As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Reclassified Normal 31-Dec-2008	Reclassified Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP	Deloitte & Touche LLP
Auditor Opinion	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation

Net Income	-44.9	0.2	-16.6	3.5	2.3
Depreciation	14.7	16.3	17.4	17.8	17.7
Deferred Charges	0.6	0.6	0.8	0.9	0.9
Loss/Impairment on Inventories	0.6	-0.7	6.8	0.4	3.0
Equity Investment Gain/Loss	0.0	0.0	0.0	0.0	0.0
Cash Dividends from Equity Subsidiaries	-	0.0	0.1	0.0	0.0
Cash Divi., Fncl. Asts HFS Investment	-	-	-	0.0	-
Impairment Loss	0.3	0.0	0.9	0.2	0.6
Other Investment Loss	-	-	-	0.1	0.0
G/L on Disposal&Write-off of Properties	0.3	-0.1	0.0	0.1	0.0
Gain on Sale of Investments	-0.2	-0.2	-2.9	-2.4	-5.6
Gain on Reversal of Bad Debts	0.6	0.1	0.4	0.0	0.0
Loss on Physical Inventory	0.2	0.1	0.2	0.1	-
Deferred Tax	0.6	0.2	-2.2	0.0	0.1
Fire Losses	39.0	-	-	-	-
Others	0.0	-	-	-	-
Pension Cost, Net	0.3	0.5	0.6	0.5	0.7
Notes Receivable	-0.4	0.7	-0.3	0.1	-0.5
Accounts Receivable	-5.6	-0.4	-2.5	-5.7	-2.1
Receivables from Related Parties	4.5	-2.3	0.5	3.6	-6.8
Other Receivables - Related Parties	-	0.0	-0.2	-0.1	0.0
Inventories	-32.7	-4.1	2.0	-6.4	-15.9
Restricted Assets	-	-	-	-	0.0
Other Current Assets	-2.6	0.0	3.1	-0.2	-1.2
Notes Payable	1.8	0.8	-0.7	-3.9	5.6
Notes Payable,Related Parties	1.4	-	-	-	-
Accounts Payable	7.0	-2.4	2.1	6.0	1.2
Payables to Related Parties	2.2	0.5	-0.7	-16.9	19.5
Tax Payable	0.0	-0.1	-0.2	0.3	-0.1
Accrued Expenses	1.4	0.4	0.7	-0.2	0.7
Other Payable - Related Parties	2.0	1.8	0.9	-1.4	1.4
Other Current Liabilities	0.7	0.5	-3.0	3.0	0.5
Cash from Operating Activities	-8.1	12.3	7.0	-0.5	22.2

Purchase of Financial Assets for Sale	-	0.0	-11.8	-25.0	-5.1
Disposal of LT Equity Investment	0.1	-	-	-	24.9
Disposal of Financial Assets-Cost Method	1.8	0.4	0.5	0.8	1.2
Cap.Reduction of Fin. Assets-Cost Method	0.1	-	-	-	-
Capital Expenditure	-22.5	-4.5	-14.2	-31.2	-18.4
Disposal of Fin. Asset-for Sale	0.0	1.6	16.6	24.3	5.9
Disposal of Fixed Assets&Other Assets	0.3	0.4	-	0.1	0.0
Security Deposit Paid	0.0	-0.1	0.4	-0.2	-2.1
Deferred Charges Increase	-1.0	-	-	-	-
Other Assets	-	-0.8	-0.6	-0.9	-0.8
Restricted Deposits	-	-	-	0.0	-
Cash from Investing Activities	-21.2	-3.0	-9.0	-32.0	5.6

ST Borrowings Increase/Decrease	-2.5	-4.9	-2.5	12.8	-8.1
Repayment of ST Notes	14.9	5.5	-1.6	6.1	-4.6
Long Term Borrowings	296.2	148.2	106.8	154.3	155.6
Repayment of LT Borrowings	-280.6	-155.6	-96.1	-158.7	-149.0
Cash Dividend - Common Stock	-	0.0	-2.9	-2.1	0.0
Employees Bonus	0.0	-0.1	-	-	-
Security Deposit Received	0.0	0.0	0.0	-	-
Directors Remuneration	-	0.0	-0.1	-0.1	0.0
Treasury Stock Repurchase	0.0	-1.9	-1.0	0.0	-2.0
Cash from Financing Activities	28.0	-8.9	2.6	12.4	-8.1

Foreign Exchange Effects	0.1	0.0	0.0	0.6	-0.7
Net Change in Cash	-1.3	0.4	0.6	-19.5	19.0

Net Cash - Beginning Balance	13.9	12.9	12.8	31.8	13.1
Net Cash - Ending Balance	12.7	13.3	13.5	12.3	32.1
Cash Interest Paid	1.2	1.3	2.2	1.4	1.7
Cash Taxes Paid	0.0	0.1	0.3	0.2	0.1

Interim Cash Flows As Reported

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010	30-Sep-2010
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.099862	29.074238	29.305764	31.497037	31.886422

Net Income	3.8	2.1	1.1	-44.9	-40.6
Depreciation	12.4	8.2	4.0	14.7	10.9
Deferred Charges	1.0	0.6	0.3	0.6	0.4
Equity Investment Gain/Loss	0.0	-	-	0.0	0.0
Impairment Loss	-	-	-	0.3	-
Pro. for Doubtful Acct. & Sales Discount	-	-	0.2	-	-
Gain on Sale of Investments	-0.2	-0.2	-0.2	-0.2	-0.2
G/L on Disposal&Write-off of Properties	-	0.0	0.0	0.3	-
Provision for Bad Account	-0.9	-0.7	-0.3	0.6	0.4
Pension Cost, Net	0.5	0.4	0.2	0.3	0.2
Loss on Inventories	0.0	-	-	-	0.1
Gain/Loss on Disposal of Fixed Assets	0.0	-	-	-	-
Loss/Impairment on Inventories	-	-0.1	-	0.6	-
Deferred Tax	0.0	-	-	0.6	0.6
Interest Inventories Rise	-	-	0.0	-	-
Gain/ Loss on Physical Inventory	0.2	0.1	0.1	0.2	0.2
Fire Losses	-	-	0.0	39.0	38.6
Others	-	-	-	0.0	0.2
Notes Receivable	-0.7	-0.3	-0.9	-0.4	-0.9
Notes Receivable-Related Parties	0.0	-	-	-	-
Accounts Receivable	6.7	11.0	5.1	-5.6	-4.7
Receivables from Related Parties	1.0	1.1	0.9	4.5	0.9
Other Receivable	-0.7	-0.1	-1.6	-	-0.5
Inventories	-8.2	-4.8	-8.1	-32.7	-19.8
Other Current Assets	1.1	1.6	1.3	-2.6	-0.9
Financial Assets for Sale	0.7	-	-	-	-
Notes Payable	-3.2	-2.2	-1.1	1.8	0.5
Notes Payable,Related Parties	-0.8	-1.2	-1.0	1.4	-
Accounts Payable	-9.6	-12.9	-6.1	7.0	3.8
Accounts Payable,Related Parties	-1.2	-1.6	-1.9	2.2	2.4
Tax Payable	0.0	0.0	0.0	0.0	0.0
Accrued Expenses	1.0	-0.7	-1.3	1.4	0.9
Other Payable - Related Parties	0.3	4.4	0.0	2.0	0.1
Other Current Liabilities	-1.2	-1.2	-1.2	0.7	0.4
Cash from Operating Activities	1.8	3.6	-10.6	-8.1	-7.1

Purchase of Financial Assets for Sale	-	-1.4	-	-	-
Disposal of Financial Assets for Sale	-	1.9	-	0.0	-
Disposal of LT Equity Investment	-	-	-	0.1	-
Disposal of Financial Assets-Cost Method	0.0	-	-	1.8	1.7
Cap.Reduction of Fin. Assets-Cost Method	0.4	0.4	0.3	0.1	0.1
Capital Expenditure	-11.6	-7.6	-3.8	-22.5	-18.4
Disposal of Fixed Assets	0.1	0.1	0.1	0.3	0.3
Security Deposit Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges Increase	-	-	-	-1.0	-
Other Assets	-1.4	-1.0	-0.6	-	-0.7
Cash from Investing Activities	-12.5	-7.6	-4.0	-21.2	-17.0

ST Borrowings	18.8	13.3	11.7	-2.5	2.8
ST Notes	-12.0	-13.8	-5.1	14.9	13.2
Increase of Long Term Borrowings	228.5	144.4	78.5	296.2	211.1
Repayment of LT Borrowings	-227.8	-144.9	-76.5	-280.6	-202.8
Security Deposit Received	0.1	0.1	0.1	0.0	0.1
Treasury Share Repurchase	-	-	-	0.0	0.0
Employees Bonus	-	-	-	0.0	-
Cash from Financing Activities	7.5	-0.9	8.6	28.0	24.3

Foreign Exchange Effects	0.0	0.0	0.0	0.1	-0.2
Net Change in Cash	-3.2	-4.8	-6.0	-1.3	0.0

Net Cash - Beginning Balance	13.7	13.7	13.6	13.9	13.8
Net Cash - Ending Balance	10.5	8.9	7.6	12.7	13.8
Cash Interest Paid	1.4	0.9	0.4	1.2	0.8
Cash Taxes Paid	0.0	-	-	0.0	0.0

Geographic Segments

Everest Textile Co Ltd.

Tainan, Taiwan, Tel: 886-6-5782561, URL: http://www.everest.com.tw/

Financials in: As Reported (mil)

Annual

Interim

External Revenue USD (mil)
	31-Dec-10				31-Dec-09				31-Dec-08				31-Dec-07			31-Dec-06
Taiwan	142.6		73.1 %		122.5		72.9 %		137.9		70.9 %		156.2		70.4 %	161.2	90.5 %
Other Asian Countries	52.6		26.9 %		45.5		27.1 %		56.6		29.1 %		65.8		29.6 %	-	-
Bermuda & Thailand Companies	-		-		-		-		-		-		65.8		29.6 %	16.8	9.5 %
Segment Total	195.2		100 %		168.0		100 %		194.5		100 %		221.9		100 %	178.1	100 %
Intercompany Eliminations	-		-		0.0		0 %		0.0		0 %		0.0		0 %	0.0	0 %
Consolidated Total	195.2		100 %		168.0		100 %		194.5		100 %		221.9		100 %	178.1	100 %
Exchange Rate: TWD to USD	31.497037				33.023867				31.543497				32.848802			32.525305
Intersegment Revenue USD (mil)
	31-Dec-10			31-Dec-09				31-Dec-08				31-Dec-07				31-Dec-06
Taiwan	10.0	21 %		6.5		58.5 %		6.4		41.2 %		5.9		94 %		4.0	19.7 %
Other Asian Countries	37.8	79 %		4.6		41.5 %		9.1		58.8 %		0.4		6 %		-	-
Bermuda & Thailand Companies	-	-		-		-		-		-		16.2		259.1 %		16.4	80.3 %
Segment Total	47.8	100 %		11.2		100 %		15.5		100 %		6.2		100 %		20.4	100 %
Intercompany Eliminations	-47.8	-100 %		-11.2		-100 %		-15.5		-100 %		-6.2		-100 %		-20.4	-100 %
Consolidated Total	0.0	0 %		0.0		0 %		0.0		0 %		0.0		0 %		0.0	0 %
Exchange Rate: TWD to USD	31.497037			33.023867				31.543497				32.848802				32.525305

Total Revenue USD (mil)
	31-Dec-10		31-Dec-09				31-Dec-08			31-Dec-07				31-Dec-06
Taiwan	152.7	62.8 %	129.1		72 %		144.3		68.7 %	162.0		71 %		165.3		83.3 %
Other Asian Countries	90.4	37.2 %	50.1		28 %		65.7		31.3 %	66.1		29 %		-		-
Bermuda & Thailand Companies	-	-	-		-		-		-	81.9		35.9 %		33.2		16.7 %
Segment Total	243.0	100 %	179.2		100 %		210.0		100 %	228.1		100 %		198.5		100 %
Intercompany Eliminations	-47.8	-19.7 %	-11.2		-6.2 %		-15.5		-7.4 %	-6.2		-2.7 %		-20.4		-10.3 %
Consolidated Total	195.2	80.3 %	168.0		93.8 %		194.5		92.6 %	221.9		97.3 %		178.1		89.7 %
Exchange Rate: TWD to USD	31.497037		33.023867				31.543497			32.848802				32.525305
Operating Income/Loss USD (mil)
				31-Dec-10				31-Dec-09					31-Dec-08
Taiwan				2.5		1,476.6 %		5.8			201.6 %		-14.6		70.1 %
Other Asian Countries				-2.3		-1,376.6 %		-2.9			-101.6 %		-6.2		29.9 %
Segment Total				0.2		100 %		2.9			100 %		-20.8		100 %
Intercompany Eliminations				-3.3		-1,960.9 %		-2.1			-73.6 %		0.4		-1.7 %
Consolidated Total				-3.1		-1,860.9 %		0.8			26.4 %		-20.4		98.3 %
Exchange Rate: TWD to USD				31.497037				33.023867					31.543497

Operating Margin (%)
					31-Dec-10				31-Dec-09				31-Dec-08
Taiwan					1.6			-	4.5			-	-10.1			-
Other Asian Countries					-2.5			-	-5.8			-	-9.5			-
Segment Total					0.1			-	1.6			-	-9.9			-
Intercompany Eliminations					6.8			-	18.9			-	-2.3			-
Consolidated Total					-1.6			-	0.4			-	-10.5			-
LT Investment - Affiliate Companies USD (mil)
	31-Dec-10		31-Dec-09			31-Dec-08				31-Dec-07				31-Dec-06
Taiwan	44.7	100 %	47.5	100 %		50.8	52.4 %			60.0	53.4 %			49.3	57.8 %
Other Asian Countries	-	-	0.0	0 %		46.2	47.6 %			52.3	46.6 %			-	-
Bermuda & Thailand Companies	-	-	-	-		-	-			52.3	46.6 %			36.0	42.2 %
Segment Total	44.7	100 %	47.5	100 %		96.9	100 %			112.3	100 %			85.3	100 %
Intercompany Eliminations	-44.7	-100 %	-47.0	-98.8 %		-96.4	-99.4 %			-111.7	-99.4 %			-84.7	-99.3 %
Consolidated Total	0.0	0 %	0.6	1.2 %		0.5	0.6 %			0.6	0.6 %			0.6	0.7 %
Exchange Rate: TWD to USD	29.156500		31.985000			32.818000				32.434500				32.585000

Long Lived Assets USD (mil)
	31-Dec-10			31-Dec-09				31-Dec-08				31-Dec-07				31-Dec-06
Taiwan	219.1		61 %	196.4		62.8 %		197.7		63.8 %		185.8		51.8 %		181.9	55.9 %
Other Asian Countries	140.0		39 %	116.1		37.2 %		112.1		36.2 %		173.0		48.2 %		-	-
Bermuda & Thailand Companies	-		-	-		-		-		-		173.0		48.2 %		143.6	44.1 %
Segment Total	359.1		100 %	312.5		100 %		309.9		100 %		358.8		100 %		325.4	100 %
Intercompany Eliminations	-62.2		-17.3 %	-44.7		-14.3 %		-44.7		-14.4 %		-84.6		-23.6 %		-41.6	-12.8 %
Consolidated Total	297.0		82.7 %	267.8		85.7 %		265.2		85.6 %		274.2		76.4 %		283.9	87.2 %
Exchange Rate: TWD to USD	29.156500			31.985000				32.818000				32.434500				32.585000
Total Assets USD (mil)
		31-Dec-10		31-Dec-09			31-Dec-08				31-Dec-07				31-Dec-06
Taiwan		273.4	66.1 %	246.0	67.9 %		251.0		61.3 %		249.6		52.6 %		236.2		56.8 %
Other Asian Countries		140.0	33.9 %	116.1	32.1 %		158.3		38.7 %		225.4		47.4 %		-		-
Bermuda & Thailand Companies		-	-	-	-		-		-		225.4		47.4 %		179.6		43.2 %
Segment Total		413.3	100 %	362.1	100 %		409.3		100 %		475.0		100 %		415.8		100 %
Intercompany Eliminations		-115.7	-28 %	-91.7	-25.3 %		-141.1		-34.5 %		-196.3		-41.3 %		-126.3		-30.4 %
Consolidated Total		297.6	72 %	270.4	74.7 %		268.2		65.5 %		278.8		58.7 %		289.5		69.6 %
Exchange Rate: TWD to USD		29.156500		31.985000			32.818000				32.434500				32.585000

Operating Return on Assets (%)
	31-Dec-10		31-Dec-09		31-Dec-08
Taiwan	1.0	-	2.4	-	-5.6	-
Other Asian Countries	-1.8	-	-2.6	-	-3.8	-
Segment Total	0.0	-	0.8	-	-4.9	-
Intercompany Eliminations	3.0	-	2.4	-	-0.2	-
Consolidated Total	-1.1	-	0.3	-	-7.3	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.59
UK Pound	1	Rs.80.34
Euro	1	Rs.67.13

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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