|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HUBEI GUANGJI PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
No.1 Jiangdi Road Wuxue City Huanggang, 435400 |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Incorporation : |
1969 |
|
|
|
|
Legal Form : |
Public Parent |
|
|
|
|
Line of Business : |
Manufacture of pharmaceuticals, medicinal chemical and botanical products |
|
|
|
|
No. of Employees : |
960 |
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 : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major
global role - in 2010 China became the world's largest exporter. Reforms began
with the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, creation of a diversified banking system, development of
stock markets, rapid growth of the private sector, and opening to foreign trade
and investment. China has implemented reforms in a gradualist fashion. In
recent years, China has renewed its support for state-owned enterprises in
sectors it considers important to "economic security," explicitly
looking to foster globally competitive national champions. After keeping its
currency tightly linked to the US dollar for years, in July 2005 China revalued
its currency by 2.1% against the US dollar and moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation. The restructuring of the economy and resulting efficiency
gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2012 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's
agricultural and industrial output each exceed those of the US; China is second
to the US in the value of services it produces. Still, per capita income is
below the world average. The Chinese government faces numerous economic
challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (c) reducing corruption
and other economic crimes; and (d) containing environmental damage and social
strife related to the economy's rapid transformation. Economic development has
progressed further in coastal provinces than in the interior, and by 2011 more
than 250 million migrant workers and their dependents had relocated to urban
areas to find work. One consequence of population control policy is that China
is now one of the most rapidly aging countries in the world. Deterioration in
the environment - notably air pollution, soil erosion, and the steady fall of
the water table, especially in the North - is another long-term problem. China
continues to lose arable land because of erosion and economic development. The
Chinese government is seeking to add energy production capacity from sources
other than coal and oil, focusing on nuclear and alternative energy
development. In 2010-11, China faced high inflation resulting largely from its
credit-fueled stimulus program. Some tightening measures appear to have
controlled inflation, but GDP growth consequently slowed to under 8% for 2012.
An economic slowdown in Europe contributed to China's, and is expected to
further drag Chinese growth in 2013. Debt overhang from the stimulus program,
particularly among local governments, and a property price bubble challenge
policy makers currently. The government's 12th Five-Year Plan, adopted in March
2011, emphasizes continued economic reforms and the need to increase domestic
consumption in order to make the economy less dependent on exports in the
future. However, China has made only marginal progress toward these rebalancing
goals.
Source
: CIA
Hubei Guangji
Pharmaceutical Co., Ltd.
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
Hubei Guangji Pharmaceutical Co., Ltd. is principally engaged in the
production and sale of bulk drugs, pharmaceutical preparations and feed
additives. The Company's bulk drug products are mainly riboflavin products,
including riboflavin (vitamin B2) feed-level and riboflavin (vitamin B2)
medicine-level. The Company's pharmaceutical preparations include granular,
tablets, injections, ointments and gels. The Company distributes its products
in domestic markets and to overseas markets. For the three months ended 31
March 2013, Hubei Guangji Pharmaceutical Co., Ltd. revenues decreased 6% to
RMB108.3M. Net loss decreased 22% to RMB8.9M. Revenues reflect a decrease in
demand for the Company's products and services due to unfavorable market
conditions. Lower net loss reflects Non-Operating Income increase of 36% to
RMB3.9M (income), Asset Impairment decrease of 72% to RMB362K (expense). |
Industry
|
Industry |
|
|
ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal Product
Manufacturing |
|
ISIC Rev 4: |
2100 - Manufacture of pharmaceuticals, medicinal
chemical and botanical products |
|
NACE Rev 2: |
|
|
NAICS 2012: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
Key Executives
|
Significant
Developments
|
Financial Summary
|
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = CNY 6.310555
2 - Balance Sheet Item Exchange Rate: USD 1 = CNY 6.2357
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Hubei Guangji
Pharmaceutical Co., Ltd. |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Huanggang |
China |
Pharmaceutical Manufacturing |
62.5 |
960 |
|
|
Subsidiary |
Wuxue, Hubei |
China |
Water and Sewage Services |
0.2 |
|
|
Executives Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.310555 |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
62.5 |
70.1 |
71.4 |
65.6 |
82.3 |
|
Revenue |
62.5 |
70.1 |
71.4 |
65.6 |
82.3 |
|
Total Revenue |
62.5 |
70.1 |
71.4 |
65.6 |
82.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
60.3 |
55.8 |
57.8 |
52.7 |
50.1 |
|
Excise Taxes Payments |
0.1 |
- |
- |
- |
- |
|
Cost of Revenue, Total |
60.4 |
55.8 |
57.8 |
52.7 |
50.1 |
|
Gross Profit |
2.1 |
14.3 |
13.6 |
12.9 |
32.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.4 |
11.5 |
10.9 |
9.2 |
13.3 |
|
Labor & Related Expense |
4.4 |
- |
- |
- |
- |
|
Advertising Expense |
0.0 |
- |
- |
- |
- |
|
Total Selling/General/Administrative Expenses |
12.8 |
11.5 |
10.9 |
9.2 |
13.3 |
|
Research & Development |
1.9 |
- |
- |
- |
- |
|
Depreciation |
0.8 |
- |
- |
- |
- |
|
Amortization of Intangibles |
0.8 |
- |
- |
- |
- |
|
Depreciation/Amortization |
1.5 |
- |
- |
- |
- |
|
Interest Expense -
Operating |
4.2 |
3.3 |
1.9 |
0.9 |
0.7 |
|
Interest Capitalized -
Operating |
-0.3 |
- |
- |
- |
- |
|
Interest Expense - Net Operating |
3.9 |
3.3 |
1.9 |
0.9 |
0.7 |
|
Interest Income -
Operating |
-0.2 |
-0.9 |
-0.2 |
-0.4 |
-0.4 |
|
Investment Income -
Operating |
0.0 |
-0.4 |
0.1 |
-3.1 |
0.5 |
|
Interest/Investment Income - Operating |
-0.2 |
-1.3 |
-0.1 |
-3.5 |
0.1 |
|
Interest Expense (Income) - Net Operating Total |
3.7 |
2.0 |
1.8 |
-2.6 |
0.8 |
|
Impairment-Assets Held for Use |
- |
0.9 |
0.1 |
0.3 |
1.5 |
|
Unusual Expense (Income) |
- |
0.9 |
0.1 |
0.3 |
1.5 |
|
Other Operating Expense |
0.9 |
0.4 |
0.1 |
0.0 |
0.0 |
|
Other Operating Expenses, Total |
0.9 |
0.4 |
0.1 |
0.0 |
0.0 |
|
Total Operating Expense |
81.3 |
70.6 |
70.6 |
59.6 |
65.8 |
|
|
|
|
|
|
|
|
Operating Income |
-18.8 |
-0.4 |
0.8 |
6.0 |
16.4 |
|
|
|
|
|
|
|
|
Gain (Loss) on Sale of Assets |
-0.1 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
2.7 |
1.1 |
1.7 |
0.4 |
0.5 |
|
Other, Net |
2.7 |
1.1 |
1.7 |
0.4 |
0.5 |
|
Income Before Tax |
-16.2 |
0.6 |
2.3 |
6.4 |
16.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.3 |
0.5 |
0.9 |
0.9 |
4.3 |
|
Income After Tax |
-16.4 |
0.1 |
1.4 |
5.4 |
12.6 |
|
|
|
|
|
|
|
|
Minority Interest |
1.3 |
0.6 |
0.7 |
0.8 |
0.2 |
|
Net Income Before Extraord Items |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
Net Income |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Basic EPS Excl Extraord Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Basic/Primary EPS Incl Extraord Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Diluted Net Income |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
Diluted Weighted Average Shares |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Diluted EPS Excl Extraord Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Diluted EPS Incl Extraord Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Dividends per Share - Common Stock Primary Issue |
- |
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 |
3.9 |
3.3 |
1.9 |
0.9 |
0.7 |
|
Interest Capitalized, Supplemental |
-0.3 |
-0.2 |
-0.3 |
-1.3 |
- |
|
Depreciation, Supplemental |
9.1 |
8.6 |
7.3 |
5.1 |
4.4 |
|
Total Special Items |
0.1 |
0.9 |
0.2 |
0.3 |
1.6 |
|
Normalized Income Before Tax |
-16.1 |
1.5 |
2.5 |
6.7 |
18.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.3 |
0.1 |
0.0 |
0.4 |
|
Inc Tax Ex Impact of Sp Items |
0.3 |
0.8 |
1.0 |
1.0 |
4.7 |
|
Normalized Income After Tax |
-16.4 |
0.7 |
1.5 |
5.7 |
13.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-15.1 |
1.3 |
2.2 |
6.6 |
14.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.06 |
0.01 |
0.01 |
0.03 |
0.06 |
|
Diluted Normalized EPS |
-0.06 |
0.01 |
0.01 |
0.03 |
0.06 |
|
Amort of Intangibles, Supplemental |
0.8 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Advertising Expense, Supplemental |
0.0 |
0.2 |
0.1 |
0.2 |
- |
|
Research & Development Exp, Supplemental |
1.9 |
1.2 |
0.9 |
0.5 |
- |
|
Normalized EBIT |
-15.1 |
2.5 |
2.6 |
3.7 |
18.8 |
|
Normalized EBITDA |
-5.2 |
11.6 |
10.4 |
9.3 |
23.7 |
|
Current Tax - Total |
0.0 |
0.6 |
0.7 |
0.2 |
2.5 |
|
Current Tax - Total |
0.0 |
0.6 |
0.7 |
0.2 |
2.5 |
|
Deferred Tax - Total |
0.3 |
-0.1 |
0.2 |
0.7 |
1.8 |
|
Deferred Tax - Total |
0.3 |
-0.1 |
0.2 |
0.7 |
1.8 |
|
Income Tax - Total |
0.3 |
0.5 |
0.9 |
0.9 |
4.3 |
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.2357 |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
20.0 |
- |
- |
- |
- |
|
Cash & Equivalents |
- |
24.2 |
32.1 |
27.7 |
32.3 |
|
Short Term Investments |
- |
0.0 |
- |
- |
- |
|
Cash and Short Term Investments |
20.0 |
24.2 |
32.1 |
27.7 |
32.3 |
|
Accounts Receivable -
Trade, Gross |
8.4 |
9.3 |
8.6 |
10.1 |
6.8 |
|
Provision for Doubtful
Accounts |
-0.3 |
-1.0 |
-0.8 |
-0.8 |
-0.7 |
|
Trade Accounts Receivable - Net |
8.1 |
8.4 |
7.8 |
9.3 |
6.1 |
|
Notes Receivable - Short Term |
1.4 |
0.0 |
0.8 |
0.6 |
0.6 |
|
Other Receivables |
4.0 |
3.8 |
5.0 |
6.8 |
6.3 |
|
Total Receivables, Net |
13.5 |
12.2 |
13.7 |
16.8 |
13.0 |
|
Inventories - Finished Goods |
23.2 |
26.5 |
12.1 |
4.5 |
10.9 |
|
Inventories - Work In Progress |
1.2 |
- |
- |
- |
- |
|
Inventories - Raw Materials |
4.8 |
5.8 |
2.7 |
3.1 |
2.5 |
|
Inventories - Other |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Inventory |
29.2 |
32.4 |
14.8 |
7.7 |
13.4 |
|
Prepaid Expenses |
3.9 |
7.7 |
8.7 |
12.3 |
18.5 |
|
Total Current Assets |
66.7 |
76.4 |
69.3 |
64.4 |
77.1 |
|
|
|
|
|
|
|
|
Buildings |
64.0 |
53.0 |
51.2 |
41.5 |
31.3 |
|
Machinery/Equipment |
97.0 |
94.4 |
90.8 |
80.4 |
60.3 |
|
Other
Property/Plant/Equipment |
5.9 |
1.5 |
1.2 |
1.2 |
1.0 |
|
Property/Plant/Equipment - Gross |
167.0 |
148.8 |
143.2 |
123.1 |
92.6 |
|
Accumulated Depreciation |
-62.4 |
-53.0 |
-45.7 |
-37.6 |
-34.9 |
|
Property/Plant/Equipment - Net |
138.5 |
137.6 |
118.4 |
100.3 |
73.7 |
|
Intangibles - Gross |
34.7 |
15.2 |
12.3 |
11.8 |
14.2 |
|
Accumulated Intangible Amortization |
-4.1 |
-3.3 |
-2.8 |
-2.3 |
-1.9 |
|
Intangibles, Net |
30.6 |
11.9 |
9.5 |
9.5 |
12.3 |
|
LT Investment - Affiliate Companies |
10.4 |
11.3 |
10.7 |
13.8 |
10.1 |
|
LT Investments - Other |
2.5 |
1.1 |
1.2 |
1.8 |
1.9 |
|
Long Term Investments |
12.9 |
12.4 |
11.9 |
15.6 |
12.0 |
|
Deferred Income Tax - Long Term Asset |
0.8 |
1.1 |
0.9 |
1.1 |
1.8 |
|
Other Long Term Assets, Total |
0.8 |
1.1 |
0.9 |
1.1 |
1.8 |
|
Total Assets |
249.5 |
239.4 |
210.1 |
191.0 |
176.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
28.8 |
16.2 |
13.1 |
12.8 |
8.8 |
|
Accrued Expenses |
3.0 |
3.3 |
15.7 |
12.6 |
14.7 |
|
Notes Payable/Short Term Debt |
60.8 |
51.4 |
32.9 |
21.4 |
16.2 |
|
Dividends Payable |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Customer Advances |
2.3 |
1.4 |
1.7 |
1.7 |
1.1 |
|
Income Taxes Payable |
3.6 |
-4.9 |
-2.5 |
-0.8 |
14.1 |
|
Other Payables |
12.1 |
14.8 |
- |
- |
- |
|
Other Current Liabilities |
-9.0 |
- |
- |
- |
- |
|
Other Current liabilities, Total |
9.5 |
11.8 |
-0.3 |
1.3 |
15.7 |
|
Total Current Liabilities |
102.2 |
82.7 |
61.4 |
48.2 |
55.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
20.0 |
16.4 |
18.5 |
20.9 |
- |
|
Total Long Term Debt |
20.0 |
16.4 |
18.5 |
20.9 |
0.0 |
|
Total Debt |
80.8 |
67.8 |
51.4 |
42.3 |
16.2 |
|
|
|
|
|
|
|
|
Minority Interest |
6.6 |
7.6 |
5.0 |
3.6 |
9.2 |
|
Other Long Term Liabilities |
5.5 |
3.0 |
2.8 |
2.3 |
2.5 |
|
Other Liabilities, Total |
5.5 |
3.0 |
2.8 |
2.3 |
2.5 |
|
Total Liabilities |
134.2 |
109.7 |
87.7 |
74.9 |
67.2 |
|
|
|
|
|
|
|
|
Common Stock |
40.4 |
40.0 |
38.2 |
36.9 |
36.9 |
|
Common Stock |
40.4 |
40.0 |
38.2 |
36.9 |
36.9 |
|
Additional Paid-In Capital |
6.0 |
11.7 |
10.5 |
10.1 |
9.9 |
|
Retained Earnings (Accumulated Deficit) |
63.4 |
78.0 |
73.7 |
69.1 |
62.8 |
|
Other Equity |
5.5 |
- |
- |
- |
- |
|
Other Equity, Total |
5.5 |
- |
- |
- |
- |
|
Total Equity |
115.3 |
129.7 |
122.4 |
116.1 |
109.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
249.5 |
239.4 |
210.1 |
191.0 |
176.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Total Common Shares Outstanding |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
960 |
1,117 |
1,074 |
1,117 |
1,118 |
|
Number of Common Shareholders |
60,088 |
64,700 |
67,309 |
66,409 |
92,275 |
|
Accumulated Intangible Amort, Suppl. |
4.1 |
3.3 |
2.8 |
2.3 |
1.9 |
|
Deferred Revenue - Current |
2.3 |
1.4 |
1.7 |
1.7 |
1.1 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.310555 |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
66.2 |
80.5 |
67.0 |
57.8 |
84.3 |
|
Cash Payments |
-38.1 |
-75.3 |
-53.3 |
-43.4 |
-48.3 |
|
Cash Taxes Paid |
-0.3 |
2.1 |
-1.5 |
-15.6 |
-8.7 |
|
Other Operating Cash Flow |
-10.7 |
5.4 |
-0.8 |
-2.4 |
4.4 |
|
Changes in Working Capital |
-10.7 |
5.4 |
-0.8 |
-2.4 |
4.4 |
|
Cash from Operating Activities |
17.1 |
12.7 |
11.4 |
-3.6 |
31.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-18.6 |
-31.1 |
-17.1 |
-21.9 |
-31.6 |
|
Capital Expenditures |
-18.6 |
-31.1 |
-17.1 |
-21.9 |
-31.6 |
|
Sale of Business |
- |
1.9 |
1.9 |
1.9 |
- |
|
Sale of Fixed Assets |
0.0 |
2.5 |
0.4 |
0.1 |
0.0 |
|
Sale/Maturity of Investment |
1.1 |
1.2 |
1.8 |
1.5 |
1.4 |
|
Purchase of Investments |
-1.3 |
-1.1 |
-1.2 |
-9.9 |
-2.2 |
|
Other Investing Cash Flow |
0.0 |
0.0 |
0.0 |
0.1 |
8.1 |
|
Other Investing Cash Flow Items, Total |
-0.1 |
4.6 |
2.9 |
-6.4 |
7.3 |
|
Cash from Investing Activities |
-18.7 |
-26.5 |
-14.1 |
-28.3 |
-24.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
1.9 |
0.4 |
0.3 |
2.8 |
|
Financing Cash Flow Items |
- |
1.9 |
0.4 |
0.3 |
2.8 |
|
Cash Dividends Paid - Common |
-4.1 |
-3.3 |
-1.9 |
-0.9 |
-3.8 |
|
Total Cash Dividends Paid |
-4.1 |
-3.3 |
-1.9 |
-0.9 |
-3.8 |
|
Total Debt Issued |
57.8 |
56.5 |
33.8 |
49.9 |
15.1 |
|
Total Debt Reduction |
-56.4 |
-50.5 |
-26.2 |
-22.0 |
-14.7 |
|
Issuance (Retirement) of Debt, Net |
1.4 |
6.0 |
7.6 |
27.9 |
0.4 |
|
Cash from Financing Activities |
-2.7 |
4.6 |
6.1 |
27.3 |
-0.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-4.3 |
-9.2 |
3.4 |
-4.6 |
6.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24.1 |
32.8 |
27.9 |
32.2 |
24.8 |
|
Net Cash - Ending Balance |
19.8 |
23.6 |
31.3 |
27.6 |
31.7 |
|
Depreciation |
9.1 |
8.6 |
7.3 |
5.1 |
4.4 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.310555 |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Rev. from Business Related Act. |
0.6 |
- |
- |
- |
- |
|
Other Net Sales |
61.9 |
- |
- |
- |
- |
|
Net Sales |
- |
70.1 |
71.4 |
65.6 |
82.3 |
|
Total Revenue |
62.5 |
70.1 |
71.4 |
65.6 |
82.3 |
|
|
|
|
|
|
|
|
Interest Capitalized |
-0.3 |
- |
- |
- |
- |
|
Advertising Expenses |
0.0 |
- |
- |
- |
- |
|
Wages |
0.5 |
- |
- |
- |
- |
|
Wages |
3.9 |
- |
- |
- |
- |
|
Research & Development Expense |
1.9 |
- |
- |
- |
- |
|
Amortization in Low Consumble |
0.0 |
- |
- |
- |
- |
|
Amortization in SGA |
0.8 |
- |
- |
- |
- |
|
Depreciation in SGA |
0.0 |
- |
- |
- |
- |
|
Depreciation in SGA |
0.8 |
- |
- |
- |
- |
|
Other Business Tax and Surcharges |
0.1 |
- |
- |
- |
- |
|
Cost of Sales from Principal Activities |
60.3 |
55.6 |
57.4 |
51.8 |
49.1 |
|
Business Tax and Surcharges |
- |
0.2 |
0.4 |
0.9 |
1.0 |
|
City Construction Taxes |
0.2 |
- |
- |
- |
- |
|
Education Surcharges |
0.1 |
- |
- |
- |
- |
|
Taxes |
1.7 |
- |
- |
- |
- |
|
Bad Debt Written-off/Provision |
1.3 |
- |
- |
- |
- |
|
Other Selling Expense |
2.1 |
- |
- |
- |
- |
|
balance |
3.1 |
- |
- |
- |
- |
|
Selling Expense |
- |
2.6 |
2.7 |
2.2 |
3.6 |
|
General and Administrative Expenses |
- |
8.9 |
8.1 |
7.0 |
9.7 |
|
Interest Expense - Balancing value |
4.2 |
- |
- |
- |
- |
|
Interest Expense |
- |
3.3 |
1.9 |
0.9 |
0.7 |
|
Interest Income |
-0.2 |
-0.9 |
-0.2 |
-0.4 |
-0.4 |
|
Investment Income - Balancing value |
-0.1 |
- |
- |
- |
- |
|
Foreign Exchange Gain/Loss |
0.1 |
0.0 |
0.3 |
0.2 |
0.3 |
|
Stocks write-back |
0.6 |
- |
- |
- |
- |
|
Commission Fee |
0.3 |
0.4 |
0.1 |
0.0 |
0.0 |
|
Impairment Loss on Assets |
- |
0.9 |
0.1 |
0.3 |
1.5 |
|
Long term investment equity method |
0.0 |
- |
- |
- |
- |
|
Disposal of LT Equity investments |
0.0 |
- |
- |
- |
- |
|
Investment Income |
- |
-0.5 |
-0.2 |
-3.2 |
0.2 |
|
Income from changes in fair value |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
81.3 |
70.6 |
70.6 |
59.6 |
65.8 |
|
|
|
|
|
|
|
|
Donation |
0.0 |
- |
- |
- |
- |
|
Other Non-Operating Income |
2.8 |
- |
- |
- |
- |
|
Other Non-Operating Expense |
0.0 |
- |
- |
- |
- |
|
Gain on Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Non-Operating Income |
- |
1.1 |
1.8 |
0.4 |
0.7 |
|
Loss on Sale of Fixed Assets |
-0.1 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Non-Operating Expense |
- |
0.0 |
-0.1 |
0.0 |
-0.1 |
|
Net Income Before Taxes |
-16.2 |
0.6 |
2.3 |
6.4 |
16.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.3 |
0.5 |
0.9 |
0.9 |
4.3 |
|
Net Income After Taxes |
-16.4 |
0.1 |
1.4 |
5.4 |
12.6 |
|
|
|
|
|
|
|
|
Minority interests |
1.3 |
0.6 |
0.7 |
0.8 |
0.2 |
|
Net Income Before Extra. Items |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
Net Income |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Basic EPS Including ExtraOrdinary Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Diluted Net Income |
-15.1 |
0.7 |
2.1 |
6.3 |
12.8 |
|
Diluted Weighted Average Shares |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
Diluted EPS Including ExtraOrd Items |
-0.06 |
0.00 |
0.01 |
0.03 |
0.05 |
|
DPS-Ordinary Shares |
- |
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 |
-16.1 |
1.5 |
2.5 |
6.7 |
18.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.3 |
0.8 |
1.0 |
1.0 |
4.7 |
|
Normalized Income After Taxes |
-16.4 |
0.7 |
1.5 |
5.7 |
13.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-15.1 |
1.3 |
2.2 |
6.6 |
14.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.06 |
0.01 |
0.01 |
0.03 |
0.06 |
|
Diluted Normalized EPS |
-0.06 |
0.01 |
0.01 |
0.03 |
0.06 |
|
Advertising Expense, Supplemental |
0.0 |
0.2 |
0.1 |
0.2 |
- |
|
Interest Expense, Supplemental |
3.9 |
- |
- |
- |
- |
|
Interest Expense |
- |
3.3 |
1.9 |
0.9 |
0.7 |
|
Interest Capitalized, Const. in Prgs. |
-0.3 |
-0.2 |
-0.3 |
-1.3 |
- |
|
Depreciation, Supplemental |
9.1 |
8.6 |
7.3 |
5.1 |
4.4 |
|
Amort of Intangibles, Supplemental |
0.8 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Research & Development Exp, Supplemental |
1.9 |
1.2 |
0.9 |
0.5 |
- |
|
Current Tax |
0.0 |
0.6 |
0.7 |
0.2 |
2.5 |
|
Current Tax - Total |
0.0 |
0.6 |
0.7 |
0.2 |
2.5 |
|
Deferred Tax |
0.3 |
-0.1 |
0.2 |
0.7 |
1.8 |
|
Deferred Tax - Total |
0.3 |
-0.1 |
0.2 |
0.7 |
1.8 |
|
Income Tax - Total |
0.3 |
0.5 |
0.9 |
0.9 |
4.3 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.2357 |
6.294 |
6.5897 |
6.827 |
6.823 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents |
- |
24.2 |
32.1 |
27.7 |
32.3 |
|
Financial Assets - Trading |
- |
0.0 |
- |
- |
- |
|
Notes Receivable |
1.4 |
0.0 |
0.8 |
0.6 |
0.6 |
|
Accounts Receivable (Gross) |
8.4 |
9.3 |
8.6 |
10.1 |
6.8 |
|
Provision for Doubtful Accounts |
-0.3 |
-1.0 |
-0.8 |
-0.8 |
-0.7 |
|
Other Receivables,Gross |
5.0 |
- |
- |
- |
- |
|
Provision for Other Receivables |
-1.0 |
- |
- |
- |
- |
|
Other Receivables |
- |
3.8 |
5.0 |
6.8 |
6.3 |
|
Payment in Advance |
3.9 |
7.7 |
8.7 |
12.3 |
18.5 |
|
Raw Materials |
4.8 |
5.8 |
2.7 |
3.1 |
2.4 |
|
Low Value Consumable |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Stored/Finished Products |
23.2 |
26.5 |
12.1 |
4.5 |
10.9 |
|
Packing Materials |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Work-in-Process |
1.2 |
- |
- |
- |
- |
|
Cash |
0.0 |
- |
- |
- |
- |
|
Bank Deposit |
16.8 |
- |
- |
- |
- |
|
Other Cash |
3.3 |
- |
- |
- |
- |
|
Total Current Assets |
66.7 |
76.4 |
69.3 |
64.4 |
77.1 |
|
|
|
|
|
|
|
|
Long Term Equity Investment - Balancing |
10.4 |
- |
- |
- |
- |
|
Long Term Equity Investment |
- |
11.3 |
10.7 |
13.8 |
10.1 |
|
LT Investments Cost Method |
1.5 |
- |
- |
- |
- |
|
Investment - Hold to Maturity |
1.0 |
1.1 |
1.2 |
1.8 |
1.9 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Buildings and Structures |
64.0 |
53.0 |
51.2 |
41.5 |
31.3 |
|
Machinery and Equipment |
95.7 |
93.1 |
89.7 |
79.4 |
59.3 |
|
Transportation Equipment |
1.3 |
1.3 |
1.0 |
0.9 |
1.0 |
|
Other Tangible |
5.9 |
1.5 |
1.2 |
1.2 |
1.0 |
|
Acc Depr. Other Tangible Fixed Assets |
-1.0 |
- |
- |
- |
- |
|
Acc Depr Buildings & Structures |
-17.4 |
- |
- |
- |
- |
|
Impmt Buildings & Structures |
-0.2 |
- |
- |
- |
- |
|
Acc Depr Machinery and Equipment |
-42.1 |
- |
- |
- |
- |
|
Impmt Machinery and Equipment |
-0.9 |
- |
- |
- |
- |
|
Acc Depr Transportation Equipment |
-0.8 |
- |
- |
- |
- |
|
Accumulated Depreciation |
- |
-52.0 |
-44.7 |
-36.6 |
-33.2 |
|
Provision for Impairment of Fixed Assets |
- |
-1.0 |
-1.0 |
-1.0 |
-1.6 |
|
Construction Materials |
1.3 |
2.1 |
0.0 |
0.2 |
2.3 |
|
Construction in Progress |
32.6 |
39.6 |
20.9 |
14.6 |
13.6 |
|
Land Use Right, Gross |
31.7 |
- |
- |
- |
- |
|
Proprietary technology, Gross |
3.0 |
- |
- |
- |
- |
|
Intangible Assets, Gross |
- |
15.2 |
12.3 |
11.8 |
14.2 |
|
Acc Amort Land Use Right |
-2.3 |
- |
- |
- |
- |
|
Acc Amort. Proprietary Technologies |
-1.9 |
- |
- |
- |
- |
|
Accumulated Amortization of Intangibles |
- |
-3.3 |
-2.8 |
-2.3 |
-1.9 |
|
Deferred Tax Assets |
0.8 |
1.1 |
0.9 |
1.1 |
1.8 |
|
Total Assets |
249.5 |
239.4 |
210.1 |
191.0 |
176.9 |
|
|
|
|
|
|
|
|
Pledged Loan, ST |
1.0 |
- |
- |
- |
- |
|
Mortgage Loan |
28.5 |
- |
- |
- |
- |
|
Guaranteed Loan |
4.4 |
- |
- |
- |
- |
|
Credit Short Term Debt |
6.4 |
- |
- |
- |
- |
|
Short Term Borrowings |
- |
41.9 |
31.4 |
19.8 |
11.9 |
|
Notes Payable |
20.5 |
9.4 |
1.4 |
1.6 |
4.4 |
|
Accounts Payable |
28.8 |
16.2 |
13.1 |
12.8 |
8.8 |
|
Customer Advance |
2.3 |
1.4 |
1.7 |
1.7 |
1.1 |
|
Accrued Payroll |
3.0 |
3.3 |
3.4 |
4.4 |
4.7 |
|
Dividend Payable |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Taxes Payable - Balancing value |
3.6 |
- |
- |
- |
- |
|
Taxes Payable |
- |
-4.9 |
-2.5 |
-0.8 |
14.1 |
|
Other Payables |
12.1 |
14.8 |
- |
- |
- |
|
Other Creditors |
- |
- |
12.3 |
8.3 |
10.0 |
|
VAT |
-9.8 |
- |
- |
- |
- |
|
Operating Tax |
0.0 |
- |
- |
- |
- |
|
City Development Tax |
-0.3 |
- |
- |
- |
- |
|
Education Surcharge |
0.3 |
- |
- |
- |
- |
|
Dike Tax |
0.3 |
- |
- |
- |
- |
|
Property Tax |
0.0 |
- |
- |
- |
- |
|
Land Use Tax |
0.3 |
- |
- |
- |
- |
|
other tax |
0.1 |
- |
- |
- |
- |
|
Total Current Liabilities |
102.2 |
82.7 |
61.4 |
48.2 |
55.5 |
|
|
|
|
|
|
|
|
LT Mortgage Loan |
4.0 |
- |
- |
- |
- |
|
LT Guaranteed Loan |
6.9 |
- |
- |
- |
- |
|
Long Term Guaranteed& Mortgage Loan |
9.1 |
- |
- |
- |
- |
|
Long Term Borrowing |
- |
16.4 |
18.5 |
20.9 |
- |
|
Total Long Term Debt |
20.0 |
16.4 |
18.5 |
20.9 |
- |
|
|
|
|
|
|
|
|
Grants |
5.5 |
- |
- |
- |
- |
|
Other Non-current Liabilities |
- |
3.0 |
2.8 |
2.3 |
2.5 |
|
Minority Interests |
6.6 |
7.6 |
5.0 |
3.6 |
9.2 |
|
Total Liabilities |
134.2 |
109.7 |
87.7 |
74.9 |
67.2 |
|
|
|
|
|
|
|
|
Other Reserves/Equity |
5.5 |
- |
- |
- |
- |
|
Common Stock |
40.4 |
40.0 |
38.2 |
36.9 |
36.9 |
|
Paid in Capital - Balancing value |
6.0 |
- |
- |
- |
- |
|
Paid in Capital |
- |
11.7 |
10.5 |
10.1 |
9.9 |
|
Surplus Reserve |
12.2 |
12.0 |
11.1 |
10.3 |
9.6 |
|
Retained Earnings |
51.2 |
65.9 |
62.6 |
58.8 |
53.2 |
|
Total Equity |
115.3 |
129.7 |
122.4 |
116.1 |
109.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
249.5 |
239.4 |
210.1 |
191.0 |
176.9 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
Total Common Shares Outstanding |
251.7 |
251.7 |
251.7 |
251.7 |
251.7 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
2.3 |
1.4 |
1.7 |
1.7 |
1.1 |
|
Accumulated Amortization of Intangibles |
4.1 |
3.3 |
2.8 |
2.3 |
1.9 |
|
Full-Time Employees |
960 |
1,117 |
1,074 |
1,117 |
1,118 |
|
Number of Common Shareholders |
60,088 |
64,700 |
67,309 |
66,409 |
92,275 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate
(Period Average) |
6.310555 |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
|
Auditor |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
Daxin CPA |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Received from Sale Goods & Services |
66.2 |
80.5 |
67.0 |
57.8 |
84.3 |
|
Cash Paid for Goods and Services |
-38.1 |
-75.3 |
-53.3 |
-43.4 |
-48.3 |
|
Amortization of Intangibles |
0.8 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Tax Refund Received |
2.2 |
4.8 |
1.7 |
- |
0.5 |
|
Cash Paid to/for Employees |
-8.9 |
- |
- |
- |
- |
|
Cash Received from Operating Activities |
14.3 |
18.3 |
11.1 |
2.2 |
13.0 |
|
Cash Taxes Paid |
-2.5 |
-2.7 |
-3.3 |
-15.6 |
-9.1 |
|
Cash Paid for Operating Activities |
-16.1 |
-12.8 |
-11.9 |
-4.6 |
-8.6 |
|
Cash From Operating Activities |
17.1 |
12.7 |
11.4 |
-3.6 |
31.8 |
|
|
|
|
|
|
|
|
Sale/Maturity/Redemption of Investment |
1.1 |
1.2 |
1.8 |
1.5 |
1.4 |
|
Cash from Return on Investments |
0.0 |
0.0 |
0.0 |
0.1 |
- |
|
Sale of Fixed, Intangible & LT Assets |
0.0 |
2.5 |
0.4 |
0.1 |
0.0 |
|
Cash from Disposal of Subsidiaries |
- |
1.9 |
1.9 |
1.9 |
- |
|
Other Cash from Investing Activities |
- |
- |
- |
- |
8.1 |
|
Capital Expenditure |
-18.6 |
-31.1 |
-17.1 |
-21.9 |
-31.6 |
|
Purchase of Investments |
-1.3 |
-1.1 |
-1.2 |
-9.9 |
-2.2 |
|
Cash From Investing Activities |
-18.7 |
-26.5 |
-14.1 |
-28.3 |
-24.3 |
|
|
|
|
|
|
|
|
Cash from Investors |
- |
1.9 |
0.4 |
0.3 |
2.8 |
|
Cash from Borrowings |
57.8 |
56.5 |
33.8 |
49.9 |
15.1 |
|
Repayment of Borrowings |
-56.4 |
-50.5 |
-26.2 |
-22.0 |
-14.7 |
|
Cash Paid for Dividend and Interest |
-4.1 |
-3.3 |
-1.9 |
-0.9 |
-3.8 |
|
Cash From Financing Activities |
-2.7 |
4.6 |
6.1 |
27.3 |
-0.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-4.3 |
-9.2 |
3.4 |
-4.6 |
6.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24.1 |
32.8 |
27.9 |
32.2 |
24.8 |
|
Net Cash - Ending Balance |
19.8 |
23.6 |
31.3 |
27.6 |
31.7 |
|
Depreciation |
9.1 |
8.6 |
7.3 |
5.1 |
4.4 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
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Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
|
1 |
Rs.700.79 |
|
Euro |
1 |
Rs.86.30 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.