|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
UPC TECHNOLOGY CORPORATION |
|
|
|
|
Formerly Known As : |
UNION PETROCHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.08.1976 |
|
|
|
|
Com. Reg. No.: |
04748660 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of chemical products |
|
|
|
|
No. of Employees : |
About 200 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. 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 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. In
2012, however, growth fell to 1.3%, 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 except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far
Taiwan has been excluded from this greater economic integration in part because
of its diplomatic status. Negotiations continue on such follow-on components of
ECFA regarding trade in goods and services. The MA administration has said that
the ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
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 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook 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. In August 2012, Taiwan Central Bank signed a memorandum of
understanding on cross-Strait currency settlement with its Chinese counterpart.
The MOU allows for the direct settlement of Chinese RMB and the New Taiwan
dollar across the Strait, which could help develop Taiwan into a local RMB hub.
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 |
|
Company Name: |
UPC TECHNOLOGY CORPORATION |
|
Former Name: |
UNION PETROCHEMICAL CORPORATION |
|
Supplied Name: |
UCP TECHNOLOOGY CORPORATION |
|
Trading Address: |
|
|
Supplied Address: |
9th Floor, Building-A, No. 209, Nan Ganh
Road, Sec-1, Nangang Dist., Taipei 11568 |
|
Telephone Number: |
+886-2-2651-7889 |
|
Fax Number: |
+886-2-2651-5818 |
|
E-mail: |
|
|
Website: |
Note: The exact name and address are as above.
Subject was incorporated
on 1976-8-14 with registered number 04748660
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan Stock
Exchange on 1989-3-27.
Change of Name
|
Former English Name |
Union Petrochemical Corporation |
|
Current English Name |
UPC Technology Corporation |
|
Name |
Subscription Shares |
|
Fengqiang Miao |
6,481,474 |
|
Yishao Ke |
2,243,838 |
|
Lien Hwa Industrial Corporation |
334,624,122 |
|
Changwei Xue |
41,384 |
|
Xinhuai Zhou |
340 |
|
Liberty Stationery Corporation |
20,825,564 |
|
Yi Yuan Investment Co., Ltd. (Literal Translation) |
18,518,713 |
The information above is that of subject’s major shareholders.
Plant
|
Name |
UPC Technology Corporation Linyuan Plant |
|
Address |
3, Kung-Yeh 2nd Rd., Lin-Yuan District, Kaohsiung 832, Taiwan, R.O.C. |
|
Telephone Number |
+886-7-641-3501 |
|
Fax Number |
+886-7-642-1087 |
Related Companies
|
1 |
|
|
Name |
Lien Hwa Industrial Corporation |
|
Registered Address: |
6F., No.44, Sec.1, Chengde Rd., Datong District, Taipei City 103,
Taiwan (R.O.C.) |
|
Date of Foundation: |
1956-7-27 |
|
Registration Number: |
11996904 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 12,800,000,000 (USD 435,200,000) (As of 2013.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 8,505,667,940 (USD 289,192,710) |
|
Legal Representatives: |
Fengqiang Miao |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol:1229 |
|
Date of Last Annual Return: |
2013-5-27 |
|
2 |
|
|
Name |
Liberty Stationery Corporation |
|
Registered Address: |
6F, No.21-1, Lane 45, Sec.2, Chung Shan North Road, Taipei, Taiwan,
R.O.C. |
|
Date of Foundation: |
2003-11-17 |
|
Registration Number: |
80542111 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 324,766,000 (USD 11,042,044) (As of 2013.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 324,766,000 (USD 11,042,044) |
|
Legal Representatives: |
Minghui Mentian |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-6-28 |
|
3 |
|
|
Name |
Yi Yuan Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
6F, No.44, Sec 1, Chengde Road, Datong District, Taipei City, Taiwan,
R.O.C. |
|
Date of Foundation: |
1983-5-4 |
|
Registration Number: |
05250202 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 1,000,000,000 (USD 34,000,000) (As of 2013.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 650,000,000 (USD 22,100,000) |
|
Legal Representatives: |
Songen Sun |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-8-9 |
|
4 |
|
|
Name |
Zhenjiang Union Chemical Industry Co., Ltd. |
|
Address |
No.57 Lin Jiang West Road, Dagang, Zhenjiang New District, |
|
Telephone Number |
+86-511-8336-2688 |
|
Fax Number |
+86-511-8336-2819 |
|
5 |
|
|
Name |
Taizhou Union Chemical Industry Co., Ltd. |
|
Address |
No.8 Xin Mu Road, Taixing Economic Development Zone, Taixing, Taizhou,
Jiangsu, China |
|
Telephone Number |
+86-523-8751-2313 |
|
Fax Number |
+86-523-8796-0206 |
|
6 |
|
|
Name |
Taizhou Union Logistics Industry Co., Ltd. |
|
Address |
No.5 Xin Mu Road, Taixing Economic Development Zone, Taixing, Taizhou,
Jiangsu, China |
|
Telephone Number |
+86-523-8751-2313 |
|
Fax Number |
+86-523-8796-0206 |
|
7 |
|
|
Name |
Taizhou Union Plastics Industry Co., Ltd. |
|
Address |
No.8 Zha Bei Road, Taixing Economic Development Zone, Taixing,
Taizhou, Jiangsu, China |
|
Telephone Number |
+86-523-8751-2313 |
|
Fax Number |
+86-523-8796-0206 |
|
8 |
|
|
Name |
Jiangsu Union Logistics Company Limited |
|
Address |
No.57 Lin Jiang West Road, Dagang, Zhenjiang New District, |
|
Telephone Number |
+86-511-8336-2688 |
|
Fax Number |
+86-511-8336-2819 |
|
9 |
|
|
Name |
Zhongshan Unicizers Industrial Co., Ltd. |
|
Address |
Yan Jiang East 2nd Rd., Zhongshan Torch Hi-tech Industrial Development
Zone, Zhongshan City, Guangdong Province, China |
|
Telephone Number |
+86-760-2338-2456 |
|
Fax Number |
+86-760-8531-0400 |
|
10 |
|
|
Name |
Zhuhai Unizers Industrial Co., Ltd. |
|
Address |
Bi Yang Rd., Gaolan Harbor Economical Zone, Zhuhai, Guang Dong, China |
|
Telephone Number |
+86-756-726-5670 |
|
Fax Number |
+86-756-726-5430 |
|
11 |
|
|
Name |
Zhongshan Union Trading Co., Ltd. |
|
Address |
Yan Jiang East 2nd Rd., Zhongshan Torch Hi-tech Industrial Development
Zone, Zhongshan City, Guangdong Province, China |
|
Telephone Number |
+86-760-2338-2456 |
|
Fax Number |
+86-760-8531-0400 |
|
12 |
|
|
Name |
Guangdong Union Logistics Company Limited |
|
Address |
Yan Jiang East 2nd Rd., Zhongshan Torch Hi-tech Industrial Development
Zone, Zhongshan City, Guangdong Province, China |
|
Telephone Number |
+86-760-2338-2456 |
|
Fax Number |
+86-760-8531-0400 |
|
13 |
|
|
Name |
Union Hong Kong Petrochemicals Co., Ltd. |
|
Address |
Room 1903-6, 19/F., Hing Yip Commercial Centre, 272-284 Des Voeux Road
Central, Hong Kong. |
Core Management
Directors
|
1 |
|
|
Name |
Fengqiang Miao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yishao Ke |
|
Position |
Director/ Manager |
|
Date of Appointment |
2003-7-1 |
|
3 |
|
|
Name |
Fengsheng Miao |
|
Position |
Director |
|
4 |
|
|
Name |
Changwei Xue |
|
Position |
Director |
|
5 |
|
|
Name |
Xinhuai Zhou |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Boyuan Wang |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Wenyan Pan |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Hongjian Yu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Deqian Zhou |
|
Position |
Manager |
Personnel
Structure
|
Total Employees |
About 200 Employees (Taiwan) Over 1,000 Employees (Group) |
Offices &
Factories
|
|
Headquarters |
|
Add |
|
Production Information
Subject is engaged in manufacturing of chemical products, etc.
It is introduced that subject has a plant in Linyuan, Taiwan and the
annual capacity is as follows for reference.
|
Epoxy Resin |
8,000 metric tons |
|
Specialty Plasticizer |
24,000 metric tons |
|
UPR and Polyol |
32,000 metric tons |
Subject obtained the certifications of ISO 9001:2000 and ISO 14001.
Purchase
Information
The registered activities of subject:
|
|
Details |
|
1 |
Manufacturing of (1) organic acids, maleic anhydride and its
derivatives (2) plastic toughening does (3) resin and plastic raw materials
(4) alcohol (5) other specific chemicals (6) air separation products (7) high
purity hydrogen oxide, sulfuric acid, hydrofluoric acid, ammonium hydroxide,
phosphoric acid, hydrochloric acid, nitric acid, ammonium fluoride, acetone,
isopropanol, and other electronics chemicals. (Above (1) to (7) of the product should be approved by the Ministry of
Economic Affairs Investment Review Committee) |
|
2 |
Sales, sales agent, offer, bid, processing of above related products |
|
3 |
Import and export business (except licensing business) |
|
4 |
Manufacturing and projects contracting of holding tank container,
steel frame construction, various pipes, and machines |
|
5 |
Vehicle maintenance and repair |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
The raw materials for production are purchased
from both home and abroad.
Subject is engaged in sales of chemical products, etc.
Subject has their own brand “UPS”.
Subject’s sales regions include Taiwan, mainland, China, Southeast Asia,
America, Europe, etc.
Major types of products
|
Types |
Application |
|
Phthalic Anhyderide |
Plasticizer, Unsaturated Polyester Resin, Dye |
|
Maleic Anhydride |
Unsaturated Polyester Resin, Alkyd Resin |
|
Fumaric Acid |
Paper sizing, Resin |
|
General Plasticizer |
General Plasticizer, Cold-Resistance Plasticizer, Thermo-Resistance,
Low-Volatility Plasticizer, Food Packaging, Efficient Plasticizer |
|
Terephthalate Plasticizer |
BPA contented Non-Toxic Plasticizer |
|
Polyester Plasticizer |
Non-Migration, Thermo-Resistance, Oil-Resistance, Solvent-Resistance,
Low-Volatility Plasticizer, Non-Toxic Plasticizer |
|
Adipate Plasticizer |
Cold-Resistance Plasticizer, Food Packaging |
|
Sebacate Plasticizer |
Cold-Resistance Plasticizer, Lubricant, Food Packaging |
|
Citrate Plasticizer |
Non-Toxic Plasticizer, FDA approved |
|
Epoxide Plasticizer |
Non-Toxic Plasticizer |
|
Benzoate Plasticizer |
Non-Toxic Plasticizer |
|
Other Specialty Plasticizer |
Replacing DIDP, used for 70 - 90℃ wire,
Thermo-Resistance, Low-Volatility Plasticizer, etc |
|
Transparency/ Casting/ Soft Artistic Item |
General Casting & Shaping of Hollow Object, etc |
|
Button |
Button |
|
General Purpose |
General Purpose, FRP |
|
Boat & Yacht |
Boat |
|
Filament Winding |
Filament Winding & Mortar Pipe |
|
Decorative Panel (Plywood) |
Decorative Panel |
|
BMC / SMC |
BMC / SMC |
|
Artificial Marble |
Artificial Marble |
|
Adipic Acid Type |
Shoe Sole, Synthetic Leather, Adhesive, UV Coating, Adhesive, etc |
|
Phthalic Anhydride Type |
Rigid Foam |
|
Fatty Ester |
Cosmetics, Inner Lubricant for plastics, such as PVC |
|
Other Specialty Chemicals |
Reactive Plasticizer, Intermediate of Surfactant, Water borne PU, used
as Surface Coating Agent, Viscosity-Reducing Agent |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials, etc |
COD, CBD, etc |
100% |
|
Product |
Payment Terms |
Proportion |
|
Raw materials, etc |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan, and Mainland, China)
|
Sales Terms |
Proportion |
|
|
Chemicals, etc |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemicals, etc |
CBD, etc |
100% |
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
472,196.00 |
1,062,135.00 |
|
Notes receivable - net |
81,662.00 |
79,915.00 |
|
Accounts receivable - net |
551,488.00 |
548,152.00 |
|
Accounts receivable - related parties - net |
8,525.00 |
4,302.00 |
|
Other receivables |
5,860.00 |
3,471.00 |
|
Other receivables - related parties |
7,096.00 |
111,020.00 |
|
Inventories |
1,418,777.00 |
1,405,545.00 |
|
Other current assets |
45,612.00 |
54,462.00 |
|
Current assets |
2,591,216.00 |
3,269,002.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
2,953,773.00 |
2,726,935.00 |
|
Financial assets carried at cost - non current |
171,307.00 |
226,327.00 |
|
Equity investments under equity method |
15,999,246.00 |
14,748,906.00 |
|
Investments |
15,999,246.00 |
14,748,906.00 |
|
Funds and long-term investments |
19,124,326.00 |
17,702,168.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
685,297.00 |
685,297.00 |
|
Buildings and structures |
695,796.00 |
693,937.00 |
|
Machinery and equipment |
970,927.00 |
1,066,827.00 |
|
Warehousing equipment |
462,054.00 |
461,254.00 |
|
Utilities equipment |
478,585.00 |
505,931.00 |
|
Transportation equipment |
14,741.00 |
12,990.00 |
|
Other facilities |
152,066.00 |
151,406.00 |
|
Revaluation increment |
441,601.00 |
441,601.00 |
|
Cost and revaluation increment |
3,901,067.00 |
4,019,243.00 |
|
Accumulated depreciation |
-2,241,751.00 |
-2,315,645.00 |
|
Construction in process and prepayment for equipments |
13,234.00 |
6,360.00 |
|
Fixed assets |
1,672,550.00 |
1,709,958.00 |
|
Intangible Assets |
|
|
|
Computer software cost |
6,781.00 |
10,357.00 |
|
Intangible assets |
6,781.00 |
10,357.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
17,095.00 |
23,831.00 |
|
Deferred charges |
15,657.00 |
1,936.00 |
|
Deferred income tax assets - non current |
42,010.00 |
38,860.00 |
|
Other assets |
74,762.00 |
64,627.00 |
|
Assets |
23,469,635.00 |
22,756,112.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
0.00 |
1,100,000.00 |
|
Short-term notes and bills payable |
0.00 |
899,318.00 |
|
Accounts payable |
654,271.00 |
707,726.00 |
|
Accounts payable - related parties |
3,779.00 |
841.00 |
|
Income tax payable |
32,630.00 |
89,550.00 |
|
Accrued expenses |
144,240.00 |
141,169.00 |
|
Other payables - related parties |
1,614.00 |
149.00 |
|
Other payables |
1,779.00 |
11,873.00 |
|
Other current liabilities |
27,027.00 |
11,413.00 |
|
Current liabilities |
865,340.00 |
2,962,039.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
4,183,945.00 |
1,997,599.00 |
|
Long-term liabilities |
4,183,945.00 |
1,997,599.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
99,828.00 |
99,828.00 |
|
Reserves |
99,828.00 |
99,828.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
321,316.00 |
310,908.00 |
|
Guarantee deposits received |
2,670.00 |
2,666.00 |
|
Other liabilities |
323,986.00 |
313,574.00 |
|
Liabilities |
5,473,099.00 |
5,373,040.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
11,265,156.00 |
10,579,138.00 |
|
Advance receipts for common stock |
22,442.00 |
24,449.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
984,967.00 |
923,213.00 |
|
Capital surplus - donated assets received |
21,898.00 |
21,898.00 |
|
Capital surplus - long-term equity investments |
15,136.00 |
15,136.00 |
|
Capital surplus - employee stock option |
129,627.00 |
193,877.00 |
|
Capital surplus |
1,151,628.00 |
1,154,124.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
1,739,946.00 |
1,634,629.00 |
|
Unappropriated retained earnings |
3,402,527.00 |
3,362,086.00 |
|
Retained earnings |
5,142,473.00 |
4,996,715.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
567,691.00 |
1,105,280.00 |
|
Net loss not recognized as pension cost |
-562.00 |
-562.00 |
|
Unrealized gains (losses) on financial instruments |
-398,108.00 |
-721,888.00 |
|
Unrealized Revaluation Increment |
341,773.00 |
341,773.00 |
|
Treasure stock |
-95,957.00 |
-95,957.00 |
|
Equity adjustments |
414,837.00 |
628,646.00 |
|
Stockholdersˉ equity |
17,996,536.00 (USD 611,882,224.00) |
17,383,072.00 (USD 591,024,448.00) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
6,883,000.00 |
6,883,000.00 |
|
|
2,812,750.00 |
2,834,250.00 |
(As of 2013.07, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Sales |
7,213,296.00 (USD 245,252,064.00) |
7,244,981.00 (USD 246,329,354.00) |
|
Sales discounts and allowances |
4,574.00 |
6,454.00 |
|
Sales |
7,208,722.00 |
7,238,527.00 |
|
Operating income |
7,208,722.00 |
7,238,527.00 |
|
Cost of sales |
6,286,427.00 |
6,421,375.00 |
|
Operating costs |
6,286,427.00 |
6,421,375.00 |
|
Gross profit (loss) from operations |
922,295.00 |
817,152.00 |
|
Selling expense |
153,546.00 |
128,676.00 |
|
General and administrative expenses |
251,637.00 |
263,922.00 |
|
Operating expenses |
405,183.00 |
392,598.00 |
|
Operating income (loss) |
517,112.00 |
424,554.00 |
|
Non-Operating Income |
|
|
|
Interest income |
4,155.00 |
6,225.00 |
|
Income from long-term equity investments under the equity method |
657,236.00 |
657,570.00 |
|
Dividends |
116,821.00 |
126,404.00 |
|
Investment income |
774,057.00 |
783,974.00 |
|
Gains on disposal of fixed assets |
223.00 |
0.00 |
|
Gains on sale of investments |
24,076.00 |
0.00 |
|
Foreign exchange gains |
11,495.00 |
0.00 |
|
Reversal of provision for bad debts |
29,284.00 |
0.00 |
|
Miscellaneous income |
52,693.00 |
46,937.00 |
|
Non-operating revenues and gains |
895,983.00 |
837,136.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
59,406.00 |
29,064.00 |
|
Loss on disposal of fixed assets |
0.00 |
7,627.00 |
|
Foreign exchange losses |
0.00 |
216.00 |
|
Impairment loss on assets |
26,000.00 |
46,000.00 |
|
Miscellaneous disbursements |
17,772.00 |
26,592.00 |
|
Non-operating expenses and losses |
103,178.00 |
109,499.00 |
|
Income from continuing operations before income tax |
1,309,917.00 |
1,152,191.00 |
|
Income tax expense (benefit) |
100,645.00 |
99,018.00 |
|
Income from continuing operations |
1,209,272.00 |
1,053,173.00 |
|
Net income (loss) |
1,209,272.00 (USD 41,115,248.00) |
1,053,173.00 (USD 35,807,882.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
1.08 |
0.95 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
1.06 |
0.93 |
(As of 2013.07, 1 NTD = 0.0340 USD)
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
1,209,272.00 |
1,053,173.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
45,875.00 |
48,700.00 |
|
Amortization Expense |
13,526.00 |
16,038.00 |
|
Share-based Compensation |
8,080.00 |
27,807.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
-6,785.00 |
7,062.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-657,236.00 |
-657,570.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
13,682.00 |
7,254.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
-223.00 |
7,627.00 |
|
Loss (Gain) on Disposal of Investments |
-24,076.00 |
0.00 |
|
Impairment Losses on Financial Asset |
26,000.00 |
46,000.00 |
|
Loss (Gain) on Deferred Income Tax |
15,700.00 |
-27,560.00 |
|
Other Adjustments to Reconcile Net Income |
13,460.00 |
12,113.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-1,747.00 |
-1,434.00 |
|
Decrease (Increase) in Accounts Receivable |
-3,336.00 |
-47,498.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-4,223.00 |
-3,091.00 |
|
Decrease (Increase) in Other Receivables |
-2,389.00 |
-2,622.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
-293.00 |
120,248.00 |
|
Decrease (Increase) in Inventories |
-6,447.00 |
-143,336.00 |
|
Decrease (Increase) in Other Current Assets |
2,460.00 |
-2,092.00 |
|
Increase (Decrease) in Accounts Payable |
-53,455.00 |
-73,449.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
2,938.00 |
-7,044.00 |
|
Increase (Decrease) in Income Tax Payable |
-56,920.00 |
-33,910.00 |
|
Increase (Decrease) in Accrued Expenses |
3,071.00 |
-79,434.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
1,465.00 |
-9,292.00 |
|
Increase (Decrease) in Other Current Liabilities |
15,614.00 |
-2,764.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
10,408.00 |
13,111.00 |
|
Net Cash Provided by (Used in) Operating Activities |
564,421.00 |
268,037.00 |
|
Cash Flows from Investing Activities |
|
|
|
Proceeds from Disposal of Available-for-sale Financial Assets |
66,542.00 |
0.00 |
|
Acquisition of Financial Assets Carried at Cost |
0.00 |
-23,000.00 |
|
Proceeds from Disposal of Financial Assets Carried at Cost |
4,386.00 |
0.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
11,725.00 |
10,050.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-1,089,450.00 |
-888,488.00 |
|
Proceeds from Capital Reduction of Investments Accounted for under
Equity Method |
0.00 |
71,000.00 |
|
Purchase of Property, Plant and Equipment |
-67,355.00 |
-65,271.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
142,620.00 |
876.00 |
|
Decrease (Increase) in Refundable Deposits |
6,736.00 |
-5,700.00 |
|
Increase in Deferred Charges |
-21,473.00 |
0.00 |
|
Purchase of Intangible Assets |
-2,198.00 |
-7,061.00 |
|
Other Investing Activities |
0.00 |
30,065.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-948,467.00 |
-877,529.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-1,100,000.00 |
1,100,000.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
-899,318.00 |
899,318.00 |
|
Proceeds from Long-term Debt |
4,433,500.00 |
400,000.00 |
|
Repayment of Long-term Debt |
-2,250,000.00 |
0.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
4.00 |
782.00 |
|
Cash Dividends Paid |
-531,757.00 |
-2,091,086.00 |
|
Exercise of Employee Stock Options |
141,678.00 |
213,638.00 |
|
Purchase of Treasury Stock |
0.00 |
-95,957.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-205,893.00 |
426,695.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-589,939.00 |
-182,797.00 |
|
Cash and Cash Equivalents, Beginning of year |
1,062,135.00 |
1,244,932.00 |
|
Cash and Cash Equivalents, End of year |
472,196.00 |
1,062,135.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
59,339.00 |
28,549.00 |
|
Interest Paid- Excluding Capitalized Interest |
59,339.00 |
28,549.00 |
|
Income Tax Paid |
141,865.00 |
160,488.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Inventories Transferred to Property, Plant and Equipment |
0.00 |
2,714.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
57,261.00 |
74,328.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
10,094.00 |
-9,057.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
67,355.00 |
65,271.00 |
|
Cash Received from Disposal of Property, Plant and Equipment |
|
|
|
Proceeds from Disposal of Property, Plant and Equipment |
38,403.00 |
105,093.00 |
|
Decrease (Increase) in Other Receivables- Disposal of Property, Plant
and Equipment |
104,217.00 |
-104,217.00 |
|
Cash received from Disposal of Long-term Investments under Equity
Method |
142,620.00 |
876.00 |
Subject declined to disclose its bank details;
from other source we cannot obtain the relevant information, either.
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.
|
Name |
Mr. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.