MIRA INFORM REPORT

 

 

 

Report Date :

05.10.2012

 

IDENTIFICATION DETAILS

 

Name :

NEXPOWER TECHNOLOGY CORPORATION

 

 

Registered Office :

No.2, Houke S. Rd., Houli Dist., Taichung City 421

 

 

Country :

Taiwan

 

 

Date of Incorporation :

25.11.2005

 

 

Com. Reg. No.:

28040138

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of thin-film solar PV.

 

 

No. of Employees :

About 400 Employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Taiwan

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

TAIWAN - ECONOMIC OVERVIEW

 

Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.

Source : CIA

Contact Points

 

Company Name:

Nexpower Technology Corporation

Supplied Name:

Nex Power Technology Corporation

Trading Address:

No.2, Houke S. Rd., Houli Dist., Taichung City 421, Taiwan (R.O.C)

Supplied Address:

No. 2 Houke S Road Houli Dist Taichung City 92152, Taiwan

Telephone Number:

+886-4-2580-8888

Fax Number:

+886-4-2580-8889

E-mail:

sales@nexpw.com

Notes:

The exact name and address are as above.

 

Credit Summary

 

Credit Opinion:

Business connections are permissible.

 

Company Identification Details

 

Registered Name:

Nexpower Technology Corporation

Registered Address:

No.2, Houke S. Rd., Houli Dist., Taichung City 421, Taiwan (R.O.C.)

Date of Foundation:

2005-11-25

Registration Number:

28040138

Registry:

Central Technologic Industry Administrative Bureau (Translated)

Registered Capital:

NTD 7,000,000,000 (USD 231,658,000)

(As of 2012.1, 1 NTD = 0.03309 USD)

Paid-up Capital:

NTD 4,875,287,500 (USD 161,343,000)

Legal Representatives:

Jiacong Hong

Legal Form:

Joint Stock Company

Principal Activities:

Manufacture and trade of thin-film solar PV.

Staff:

About 400 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2011-7-13

 

History

 

Subject was incorporated on 2005-11-25 with registered number 28040138 as Joint Stock Company in Taiwan.

Change of Name

Former Chinese Name

晶能科技股份有限公司

Current Chinese Name

聯相光電股份有限公司

 

Awards

Year

Awards

2008

Blue chip importer and exporter

2009

Blue chip importer and exporter

2010

Blue chip importer and exporter

 

Standard of Blue chip importer and exporter

Unit: USD

Year

Amount

2008

19,000,000

2009

15,000,000

2010

20,000,000

 

Shareholders

 

           

Name

Subscription Shares

United Microelectronics Corporation

215,282,904
Unimicron Technology Corporation

17,745,000

Hongcheng Investment Corporation (translated)

24,600,000

 

The information above is that of subject’s major shareholders.

 

Subsidiaries & Branches

 

Parent Company

Name

United Microelectronics Corporation

Address:

No. 3, Li-Hsin 2nd Road, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C.

Tel:

886-3-578-2258

Fax:

886-3-577-9392

E-mail:

foundry@umc.com

 

Personnel Information

 

Core Management

 

Directors

1

Name

Jiacong Hong

Position

Board Chairman

2

Name

Xiuming Wang

Position

Director

3

Name

Zaisheng Shen

Position

Director

4

Name

Shiwei Sun

Position

Director

5

Name

Guohui Zhou

Position

Director

6

Name

Qidong Liu

Position

Supervisor

7

Name

Meiyuan Wang

Position

Supervisor

 

Personnel Structure

 

Total Employees

About 400 Employees

 

Operation Information

 

Offices & Factories

 

 

Headquarters

Add

No.2, Houke S. Rd., Houli Dist., Taichung City 421, Taiwan (R.O.C.)

 

Production Information

 

l         Subject is a manufacturer of thin-film solar PV with the production activities

 

Purchase Information

 

l         The registered activities of subject:

Business Code

Details

CC01080

Manufacture of electronic components

CC01090

Manufacture of battery

F119010

Wholesale of electronic material

F219010

Retail of electronic material

F401010

International trade (above products)

 

 

l         The components and raw material for production are mostly purchased from local Taiwan.

 

Sales Information

 

l         Subject is mainly engaged in manufacturing and trading of thin film PV module and the related products.

l         Major products sold as following:

Product

Sales Region

1

Xtreme+ µc-Si Module

2

NT Series µc-Si Module

3

NH Series a-Si Module

4

Lucid+ BIPV Module

5

Others

l         Subject’s selling territory covers many countries, such as Malaysia, Singapore, and India and so on.

 

Import and export right:

Import right

Yes

Export right

Yes

 

Settlements

Subject declined the settlements information, and from other sources, we couldn’t obtain the information, either.

 

Financial Information

 

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff Mr. Zhou declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

 

Bankers

 

The bankers’ information is not available from the subject or other sources.

 

Public Record

 

Mortgage

 

No chattel mortgage record of subject has been found within the recent 3 months.

 

Lawsuit

 

Up to date of reporting, no existing or latent litigation of the subject has been found.

 

Interview Details

 

Name

Mr. Zhou

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.97

UK Pound

1

Rs.83.67

Euro

1

Rs.67.19

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

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.