MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI DRAGON CORPORATION |
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Registered Office : |
No.584, F4, A Section, Zhizaoju Road, Shanghai, 200023 |
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Country : |
China |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.06.1992 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Subject is engaged in the production and distribution of
textile products and apparels |
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No. of Employees : |
3149 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Company name & address
Shanghai Dragon Corporation
No.584, F4, A Section
Zhizaoju Road
Shanghai, 200023
China
Tel: 86-21-34061116
Fax: 86-21-54666630
Web: www.shanghaidragon.com.cn
Synthesis
Employees: 3,149
Company Type: Public Subsidiary
Corporate Family: 16
Companies
Ultimate Parent: Shangtex
Holding (Group) Corporation
Traded: Shanghai
Stock Exchange: 600630
Incorporation Date:
30-Jun-1992
Auditor: BDO China Shu Lun Pan CPAs
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: Chinese
Renminbi
Annual Sales: 717.5
1
Net Income: 7.3
Total Assets: 410.3
2
Market Value: 389.2
(14-Jun-2013)
Business Description
Shanghai Dragon Corporation is principally engaged in the production and distribution of textile products and apparels. The Company's core business is the operation of its textile brands and international trading. The Company operates in four business segments: knitting, home textile, apparel, and international trade. The Company's major products are knitted products, household textile products, apparels and accessories, as well as printed and dyed products. It provides its products under brands named Threegun, Mum and Phoenix, among others, which covers knitting underwear, beddings, towels, blankets and apparels. The Company also involves in real estate development and sales. It distributes its products primarily in domestic market. For the nine months ended 30 September 2012, Shanghai Dragon Corporation revenues increased 10% to RMB3.48B. Net income increased 15% to RMB37.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Investment Income increase of 9% to RMB9.5M (income), Assets depreciation loss decrease of 65% to RMB305K (expense).
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1340 - Knitted
Product Manufacturing
NACE 2002: 1823 - Manufacture
of underwear
NAICS 2002: 315192 - Underwear
and Nightwear Knitting Mills
UK SIC 2003: 1823 - Manufacture
of underwear
UK SIC 2007: 1414 - Manufacture
of underwear
US SIC 1987: 2254 - Knit
Underwear and Nightwear Mills
Key Executives
|
Name |
Title |
|
Feng Chen |
Deputy General Manager, Secretary of the Board |
|
Jian Zhou |
Chief Financial Officer, Director |
|
Qijie Chen |
Independent Director |
|
Yong Zhu |
Chairman of the Board |
|
Nanliang Chen |
Independent Director |
Significant Developments
|
* number of significant developments within the last 12 months
Financial Summary
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Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = CNY 6.310555
2 - Balance Sheet Item Exchange Rate: USD 1 = CNY 6.2357
Corporate Overview
Location
No.584, F4, A Section
Zhizaoju Road
Shanghai, 200023
China
Tel: 86-21-34061116
Fax: 86-21-54666630
Web: www.shanghaidragon.com.cn
Quote Symbol - Exchange
600630 - Shanghai
Stock Exchange
Sales CNY(mil): 4,527.8
Assets CNY(mil): 2,558.6
Employees: 3,149
Fiscal Year End: 31-Dec-2012
Industry: Apparel
and Accessories
Incorporation Date: 30-Jun-1992
Company Type: Public
Subsidiary
Quoted Status: Quoted
Deputy General
Manager, Secretary of the Board:
Feng Chen
Industry Codes
ANZSIC 2006 Codes:
1340 - Knitted Product Manufacturing
3731 - Furniture and Floor Covering Wholesaling
3019 - Other Residential Building Construction
NACE 2002 Codes:
1823 - Manufacture of underwear
1754 - Manufacture of other textiles not elsewhere classified
4521 - General construction of buildings and civil engineering
works
1772 - Manufacture of knitted and crocheted pullovers, cardigans
and similar articles
5147 - Wholesale of other household goods
NAICS 2002 Codes:
315192 - Underwear and Nightwear Knitting Mills
315191 - Outerwear Knitting Mills
236116 - New Multifamily Housing Construction (except Operative
Builders)
313249 - Other Knit Fabric and Lace Mills
423220 - Home Furnishing Merchant Wholesalers
US SIC 1987:
2254 - Knit Underwear and Nightwear Mills
2253 - Knit Outerwear Mills
2259 - Knitting Mills, Not Elsewhere Classified
5023 - Home furnishings
1522 - General Contractors-Residential Buildings, Other Than
Single-Family
UK SIC 2003:
1823 - Manufacture of underwear
1772 - Manufacture of knitted and crocheted pullovers, cardigans
and similar articles
5147 - Wholesale of other household goods
45212 - Construction of domestic buildings
17549 - Manufacture of other textiles not elsewhere classified
UK SIC 2007:
1414 - Manufacture of underwear
1396 - Manufacture of other technical and industrial textiles
41202 - Construction of domestic buildings
4649 - Wholesale of other household goods
1439 - Manufacture of other knitted and crocheted apparel
Business
Description
Shanghai Dragon
Corporation is principally engaged in the production and distribution of
textile products and apparels. The Company's core business is the operation of
its textile brands and international trading. The Company operates in four
business segments: knitting, home textile, apparel, and international trade.
The Company's major products are knitted products, household textile products,
apparels and accessories, as well as printed and dyed products. It provides its
products under brands named Threegun, Mum and Phoenix, among others, which
covers knitting underwear, beddings, towels, blankets and apparels. The Company
also involves in real estate development and sales. It distributes its products
primarily in domestic market. For the nine months ended 30 September 2012,
Shanghai Dragon Corporation revenues increased 10% to RMB3.48B. Net income
increased 15% to RMB37.7M. Revenues reflect an increase in demand for the
Company's products and services due to favorable market conditions. Net income
benefited from Investment Income increase of 9% to RMB9.5M (income), Assets
depreciation loss decrease of 65% to RMB305K (expense).
More Business
Descriptions
Holding company with interests in pharmaceuticals, science and
technology, finance, textiles and media
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Corporate Family |
Corporate
Structure News: |
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Shangtex
Holding (Group) Corporation |
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Shanghai Dragon Corporation |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Shanghai |
China |
Textiles - Non Apparel |
|
165,000 |
|
|
Subsidiary |
Shanghai |
China |
Apparel and Accessories |
717.5 |
3,149 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Furniture and Fixtures |
188.7 |
66 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
118.3 |
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
75.0 |
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
43.5 |
40 |
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Subsidiary |
Shanghai |
China |
Apparel and Accessories |
|
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|
Subsidiary |
Shanghai |
China |
Apparel and Accessories |
1,053.1 |
2,141 |
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Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
358.3 |
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|
Subsidiary |
Suzhou, Jiangsu |
China |
Apparel and Accessories |
5.5 |
480 |
|
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Subsidiary |
Shanghai, Shanghai |
China |
Apparel and Accessories |
269.0 |
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|
Subsidiary |
Shanghai, Shanghai |
China |
Fabricated Plastic and Rubber |
30.7 |
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Subsidiary |
Shanghai, Shanghai |
China |
Textiles - Non Apparel |
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Subsidiary |
Shanghai, Shanghai |
China |
Auto and Truck Parts |
1.4 |
15 |
|
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Subsidiary |
Shanghai |
China |
Apparel and Accessories |
244.2 |
790 |
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Subsidiary |
Shanghai, Shanghai |
China |
Miscellaneous Financial Services |
9.7 |
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Executive report
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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General Manager, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Staff Elected Director |
Director/Board Member |
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Chief Financial Officer, Director |
Director/Board Member |
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Executives |
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Deputy General Manager, Secretary of the Board |
Division Head Executive |
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General Manager, Director |
Division Head Executive |
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Deputy General Manager |
Division Head Executive |
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Chief Financial Officer, Director |
Finance Executive |
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Independent Director |
Other |
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Independent Director |
Other |
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Independent Director |
Other |
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Significant Developments
Shanghai Dragon Corp Announces No Dividend Payment for FY 2012 Mar 30, 2013
Shanghai Dragon Corporation announced that it will pay no dividend to shareholders for fiscal year 2012.
Shanghai Dragon Corp Provides Guarantees for Subsidiaries Mar 30, 2013
Shanghai Dragon Corporation announced that the Company will provide a guarantee of joint liability for the RMB 250 million bank loan applied to the bank by a subsidiary, as well as another guarantee of joint liability for the RMB 10 million bank loan applied to the bank by another subsidiary.
Annual
Income Statement
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 |
|
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu Lun
Pan CPAs |
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Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
- |
700.4 |
521.7 |
435.1 |
529.0 |
|
Revenue |
- |
700.4 |
521.7 |
435.1 |
529.0 |
|
Total Revenue |
- |
700.4 |
521.7 |
435.1 |
529.0 |
|
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Cost of Revenue |
- |
591.9 |
434.6 |
357.7 |
445.9 |
|
Cost of Revenue, Total |
- |
591.9 |
434.6 |
357.7 |
445.9 |
|
Gross Profit |
- |
108.5 |
87.1 |
77.5 |
83.1 |
|
|
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|
|
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|
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Selling/General/Administrative Expense |
- |
103.1 |
92.6 |
80.1 |
83.0 |
|
Total Selling/General/Administrative Expenses |
- |
103.1 |
92.6 |
80.1 |
83.0 |
|
Interest Expense -
Operating |
- |
4.1 |
4.8 |
7.9 |
10.9 |
|
Interest Expense - Net Operating |
- |
4.1 |
4.8 |
7.9 |
10.9 |
|
Interest Income -
Operating |
- |
-0.5 |
-0.7 |
-1.0 |
-1.8 |
|
Investment Income -
Operating |
- |
-4.1 |
-17.2 |
-28.9 |
-0.3 |
|
Interest/Investment Income - Operating |
- |
-4.6 |
-17.9 |
-30.0 |
-2.1 |
|
Interest Expense (Income) - Net Operating Total |
- |
-0.5 |
-13.1 |
-22.0 |
8.8 |
|
Impairment-Assets Held for Use |
- |
1.3 |
3.3 |
11.6 |
0.9 |
|
Unusual Expense (Income) |
- |
1.3 |
3.3 |
11.6 |
0.9 |
|
Other Operating Expense |
- |
0.5 |
0.6 |
0.4 |
0.5 |
|
Other Operating Expenses, Total |
- |
0.5 |
0.6 |
0.4 |
0.5 |
|
Total Operating Expense |
- |
696.3 |
518.0 |
427.8 |
539.1 |
|
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|
|
|
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Operating Income |
- |
4.1 |
3.7 |
7.3 |
-10.1 |
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|
|
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Gain (Loss) on Sale of Assets |
- |
2.9 |
4.0 |
0.1 |
-0.1 |
|
Other Non-Operating Income (Expense) |
- |
2.5 |
2.1 |
1.7 |
19.3 |
|
Other, Net |
- |
2.5 |
2.1 |
1.7 |
19.3 |
|
Income Before Tax |
- |
9.6 |
9.8 |
9.2 |
9.1 |
|
|
|
|
|
|
|
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Total Income Tax |
- |
2.4 |
1.3 |
3.0 |
6.1 |
|
Income After Tax |
- |
7.2 |
8.5 |
6.2 |
2.9 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Net Income Before Extraord Items |
- |
7.1 |
8.5 |
6.3 |
2.9 |
|
Net Income |
- |
7.1 |
8.5 |
6.3 |
2.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
- |
7.1 |
8.5 |
6.3 |
2.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
7.1 |
8.5 |
6.3 |
2.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
424.9 |
424.9 |
424.9 |
424.9 |
|
Basic EPS Excl Extraord Items |
- |
0.02 |
0.02 |
0.01 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
- |
0.02 |
0.02 |
0.01 |
0.01 |
|
Dilution Adjustment |
- |
- |
- |
0.0 |
- |
|
Diluted Net Income |
- |
7.1 |
8.5 |
6.3 |
2.9 |
|
Diluted Weighted Average Shares |
- |
424.9 |
424.9 |
424.9 |
424.9 |
|
Diluted EPS Excl Extraord Items |
- |
0.02 |
0.02 |
0.01 |
0.01 |
|
Diluted EPS Incl Extraord Items |
- |
0.02 |
0.02 |
0.01 |
0.01 |
|
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 |
|
Interest Expense, Supplemental |
- |
4.1 |
4.8 |
7.9 |
10.9 |
|
Depreciation, Supplemental |
- |
7.3 |
6.7 |
8.4 |
8.3 |
|
Total Special Items |
- |
-1.6 |
-0.7 |
11.5 |
1.0 |
|
Normalized Income Before Tax |
- |
7.9 |
9.1 |
20.7 |
10.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
-0.4 |
-0.1 |
3.7 |
0.4 |
|
Inc Tax Ex Impact of Sp Items |
- |
2.0 |
1.2 |
6.7 |
6.5 |
|
Normalized Income After Tax |
- |
5.9 |
7.9 |
14.0 |
3.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
- |
5.9 |
7.9 |
14.1 |
3.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
- |
0.01 |
0.02 |
0.03 |
0.01 |
|
Diluted Normalized EPS |
- |
0.01 |
0.02 |
0.03 |
0.01 |
|
Amort of Intangibles, Supplemental |
- |
0.6 |
0.6 |
0.6 |
0.6 |
|
Rental Expenses |
- |
7.8 |
7.8 |
6.1 |
- |
|
Research & Development Exp, Supplemental |
- |
2.6 |
2.8 |
2.4 |
- |
|
Normalized EBIT |
- |
4.9 |
-6.1 |
-3.1 |
-0.4 |
|
Normalized EBITDA |
- |
12.8 |
1.2 |
5.9 |
8.5 |
|
Current Tax - Total |
- |
2.3 |
1.3 |
2.9 |
6.1 |
|
Current Tax - Total |
- |
2.3 |
1.3 |
2.9 |
6.1 |
|
Deferred Tax - Total |
- |
0.1 |
0.0 |
0.0 |
0.1 |
|
Deferred Tax - Total |
- |
0.1 |
0.0 |
0.0 |
0.1 |
|
Income Tax - Total |
- |
2.4 |
1.3 |
3.0 |
6.1 |
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 |
|
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
- |
34.9 |
50.5 |
48.2 |
35.2 |
|
Cash and Short Term Investments |
- |
34.9 |
50.5 |
48.2 |
35.2 |
|
Accounts Receivable -
Trade, Gross |
- |
60.2 |
55.8 |
61.3 |
62.6 |
|
Provision for Doubtful
Accounts |
- |
-16.0 |
-15.8 |
-15.6 |
-16.7 |
|
Trade Accounts Receivable - Net |
- |
44.2 |
40.0 |
45.7 |
46.0 |
|
Notes Receivable - Short Term |
- |
0.2 |
0.7 |
0.8 |
0.4 |
|
Other Receivables |
- |
25.8 |
21.9 |
13.4 |
19.6 |
|
Total Receivables, Net |
- |
70.2 |
62.6 |
60.0 |
65.9 |
|
Inventories - Finished Goods |
- |
94.5 |
87.7 |
88.0 |
125.7 |
|
Inventories - Work In Progress |
- |
14.6 |
15.3 |
14.6 |
18.5 |
|
Inventories - Raw Materials |
- |
4.0 |
4.0 |
3.5 |
5.6 |
|
Inventories - Other |
- |
2.6 |
1.5 |
1.4 |
-12.6 |
|
Total Inventory |
- |
115.7 |
108.5 |
107.5 |
137.3 |
|
Prepaid Expenses |
- |
62.1 |
46.2 |
22.7 |
27.6 |
|
Total Current Assets |
- |
282.9 |
267.8 |
238.4 |
266.1 |
|
|
|
|
|
|
|
|
Buildings |
- |
71.8 |
67.3 |
63.9 |
65.2 |
|
Machinery/Equipment |
- |
66.9 |
65.4 |
65.3 |
77.9 |
|
Other
Property/Plant/Equipment |
- |
5.0 |
4.7 |
4.5 |
4.4 |
|
Property/Plant/Equipment - Gross |
- |
143.7 |
137.4 |
133.6 |
147.5 |
|
Accumulated Depreciation |
- |
-63.8 |
-56.6 |
-53.8 |
-56.0 |
|
Property/Plant/Equipment - Net |
- |
82.1 |
82.0 |
89.1 |
102.2 |
|
Intangibles - Gross |
- |
13.8 |
15.6 |
14.0 |
17.0 |
|
Accumulated Intangible Amortization |
- |
-4.3 |
-3.9 |
-3.1 |
-3.9 |
|
Intangibles, Net |
- |
9.5 |
11.8 |
10.9 |
13.2 |
|
LT Investment - Affiliate Companies |
- |
25.3 |
22.9 |
21.0 |
26.1 |
|
LT Investments - Other |
- |
6.7 |
6.8 |
6.8 |
11.7 |
|
Long Term Investments |
- |
32.0 |
29.6 |
27.8 |
37.8 |
|
Deferred Charges |
- |
- |
- |
- |
0.3 |
|
Deferred Income Tax - Long Term Asset |
- |
0.1 |
0.2 |
0.2 |
0.3 |
|
Other Long Term Assets, Total |
- |
0.1 |
0.2 |
0.2 |
0.6 |
|
Total Assets |
- |
406.5 |
391.4 |
366.4 |
419.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
- |
31.4 |
38.5 |
36.8 |
38.9 |
|
Accrued Expenses |
- |
10.9 |
11.6 |
12.3 |
13.3 |
|
Notes Payable/Short Term Debt |
- |
81.4 |
56.6 |
94.2 |
142.1 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
0.3 |
0.3 |
|
Dividends Payable |
- |
0.2 |
0.2 |
0.2 |
0.2 |
|
Customer Advances |
- |
46.3 |
32.8 |
12.7 |
17.8 |
|
Income Taxes Payable |
- |
3.7 |
4.2 |
8.3 |
7.4 |
|
Other Current Liabilities |
- |
- |
30.4 |
- |
- |
|
Other Current liabilities, Total |
- |
50.2 |
67.6 |
21.2 |
25.4 |
|
Total Current Liabilities |
- |
173.9 |
174.2 |
164.8 |
219.9 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
- |
81.4 |
56.6 |
94.5 |
142.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
0.1 |
0.2 |
0.2 |
0.7 |
|
Deferred Income Tax |
- |
0.1 |
0.2 |
0.2 |
0.7 |
|
Minority Interest |
- |
0.1 |
1.8 |
1.8 |
4.4 |
|
Other Long Term Liabilities |
- |
- |
0.2 |
0.4 |
- |
|
Other Liabilities, Total |
- |
- |
0.2 |
0.4 |
- |
|
Total Liabilities |
- |
174.1 |
176.4 |
167.2 |
225.1 |
|
|
|
|
|
|
|
|
Common Stock |
- |
67.5 |
64.5 |
62.2 |
62.3 |
|
Common Stock |
- |
67.5 |
64.5 |
62.2 |
62.3 |
|
Additional Paid-In Capital |
- |
148.3 |
141.7 |
136.9 |
138.9 |
|
Retained Earnings (Accumulated Deficit) |
- |
16.6 |
8.8 |
0.1 |
-6.4 |
|
Total Equity |
- |
232.4 |
215.0 |
199.2 |
194.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
- |
406.5 |
391.4 |
366.4 |
419.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
- |
424.9 |
424.9 |
424.9 |
424.9 |
|
Total Common Shares Outstanding |
- |
424.9 |
424.9 |
424.9 |
424.9 |
|
Treasury Shares - Common Stock Primary Issue |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
- |
3,149 |
3,549 |
4,022 |
4,057 |
|
Number of Common Shareholders |
- |
79,880 |
88,622 |
108,208 |
124,314 |
|
Accumulated Intangible Amort, Suppl. |
- |
4.3 |
3.9 |
3.1 |
3.9 |
|
Deferred Revenue - Current |
- |
46.3 |
32.8 |
12.7 |
17.8 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.3 |
0.3 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.3 |
0.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
0.0 |
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 |
|
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 |
|
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu Lun
Pan CPAs |
BDO China Shu
Lun Pan CPAs |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
- |
769.1 |
605.1 |
462.2 |
573.8 |
|
Cash Payments |
- |
-752.0 |
-563.5 |
-415.1 |
-534.0 |
|
Cash Taxes Paid |
- |
24.1 |
-0.6 |
5.1 |
2.3 |
|
Other Operating Cash Flow |
- |
-47.5 |
-37.4 |
-30.7 |
-34.9 |
|
Changes in Working Capital |
- |
-47.5 |
-37.4 |
-30.7 |
-34.9 |
|
Cash from Operating Activities |
- |
-6.2 |
3.7 |
21.5 |
7.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
-3.9 |
-3.9 |
-6.4 |
-10.4 |
|
Capital Expenditures |
- |
-3.9 |
-3.9 |
-6.4 |
-10.4 |
|
Sale of Business |
- |
- |
16.0 |
35.1 |
0.2 |
|
Sale of Fixed Assets |
- |
5.6 |
4.3 |
3.0 |
19.7 |
|
Sale/Maturity of Investment |
- |
- |
- |
8.9 |
0.7 |
|
Purchase of Investments |
- |
- |
- |
- |
-0.5 |
|
Other Investing Cash Flow |
- |
0.6 |
1.2 |
2.1 |
2.4 |
|
Other Investing Cash Flow Items, Total |
- |
6.3 |
21.6 |
49.1 |
22.4 |
|
Cash from Investing Activities |
- |
2.3 |
17.7 |
42.7 |
12.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
4.4 |
-6.9 |
-2.5 |
- |
|
Financing Cash Flow Items |
- |
4.4 |
-6.9 |
-2.5 |
- |
|
Cash Dividends Paid - Common |
- |
-4.2 |
-4.6 |
-7.9 |
-10.9 |
|
Total Cash Dividends Paid |
- |
-4.2 |
-4.6 |
-7.9 |
-10.9 |
|
Long Term Debt Issued |
- |
- |
29.5 |
- |
- |
|
Long Term Debt, Net |
- |
- |
29.5 |
- |
- |
|
Total Debt Issued |
- |
113.5 |
130.6 |
153.9 |
167.8 |
|
Total Debt Reduction |
- |
-121.7 |
-172.5 |
-198.2 |
-184.8 |
|
Issuance (Retirement) of Debt, Net |
- |
-8.1 |
-12.4 |
-44.3 |
-17.0 |
|
Cash from Financing Activities |
- |
-7.9 |
-24.0 |
-54.7 |
-27.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
0.1 |
-0.1 |
-0.1 |
-0.2 |
|
Net Change in Cash |
- |
-11.6 |
-2.7 |
9.3 |
-8.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
42.6 |
43.4 |
33.7 |
42.0 |
|
Net Cash - Ending Balance |
- |
31.0 |
40.7 |
43.0 |
33.1 |
|
Depreciation |
- |
7.3 |
6.7 |
8.4 |
8.3 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales from Principal Activities |
700.4 |
521.7 |
435.1 |
529.0 |
499.0 |
|
Total Revenue |
700.4 |
521.7 |
435.1 |
529.0 |
499.0 |
|
|
|
|
|
|
|
|
Cost of Sales from Principal Activities |
589.5 |
432.8 |
355.7 |
444.3 |
438.3 |
|
Business Tax and Surcharges |
2.4 |
1.8 |
2.0 |
1.6 |
1.3 |
|
Selling Expenses |
66.7 |
53.2 |
47.5 |
40.4 |
31.2 |
|
General and Administrative Expenses |
36.3 |
39.5 |
32.6 |
42.6 |
29.8 |
|
Interest Expense |
4.1 |
4.8 |
7.9 |
10.9 |
10.0 |
|
Interest Income |
-0.5 |
-0.7 |
-1.0 |
-1.8 |
-1.5 |
|
Foreign Exchange Loss |
- |
- |
0.2 |
0.6 |
1.0 |
|
Foreign Exchange Gain |
-1.7 |
-0.1 |
- |
- |
- |
|
Other Finance Cost |
0.5 |
0.6 |
0.4 |
0.5 |
0.7 |
|
Impairment Loss on Assets |
1.3 |
3.3 |
11.6 |
0.9 |
9.2 |
|
Investment Income |
-2.4 |
-17.1 |
-29.2 |
-0.9 |
-4.9 |
|
Total Operating Expense |
696.3 |
518.0 |
427.8 |
539.1 |
515.1 |
|
|
|
|
|
|
|
|
Gain on Sale of Fixed Assets |
1.6 |
4.2 |
0.8 |
0.8 |
4.2 |
|
Gain on Sale of Intangible Assets |
1.5 |
- |
- |
- |
- |
|
Non-Operating Income |
2.6 |
2.3 |
1.9 |
19.6 |
18.2 |
|
Loss on Sale of Fixed Assets |
-0.1 |
-0.2 |
-0.7 |
-0.9 |
-0.1 |
|
Non-Operating Expense |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
-0.5 |
|
Net Income Before Taxes |
9.6 |
9.8 |
9.2 |
9.1 |
5.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2.4 |
1.3 |
3.0 |
6.1 |
3.4 |
|
Net Income After Taxes |
7.2 |
8.5 |
6.2 |
2.9 |
2.4 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.1 |
0.0 |
0.1 |
|
Net Income Before Extra. Items |
7.1 |
8.5 |
6.3 |
2.9 |
2.5 |
|
Net Income |
7.1 |
8.5 |
6.3 |
2.9 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
7.1 |
8.5 |
6.3 |
2.9 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
7.1 |
8.5 |
6.3 |
2.9 |
2.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
424.9 |
424.9 |
424.9 |
424.9 |
424.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.02 |
0.02 |
0.01 |
0.01 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.02 |
0.02 |
0.01 |
0.01 |
0.01 |
|
Dilution Adjustment |
- |
- |
0.0 |
- |
- |
|
Diluted Net Income |
7.1 |
8.5 |
6.3 |
2.9 |
2.5 |
|
Diluted Weighted Average Shares |
424.9 |
424.9 |
424.9 |
424.9 |
424.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.02 |
0.02 |
0.01 |
0.01 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.02 |
0.02 |
0.01 |
0.01 |
0.01 |
|
DPS-A Share |
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 |
7.9 |
9.1 |
20.7 |
10.1 |
11.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.0 |
1.2 |
6.7 |
6.5 |
6.4 |
|
Normalized Income After Taxes |
5.9 |
7.9 |
14.0 |
3.6 |
4.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.9 |
7.9 |
14.1 |
3.6 |
4.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.02 |
0.03 |
0.01 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
0.02 |
0.03 |
0.01 |
0.01 |
|
Interest Expense, Supplemental |
4.1 |
4.8 |
7.9 |
10.9 |
10.0 |
|
Depreciation, Supplemental |
7.3 |
6.7 |
8.4 |
8.3 |
7.5 |
|
Amort of Intangibles, Supplemental |
0.6 |
0.6 |
0.6 |
0.6 |
0.7 |
|
Rental Expense, Supplemental |
7.8 |
7.8 |
6.1 |
- |
- |
|
Research & Development Exp, Supplemental |
2.6 |
2.8 |
2.4 |
- |
- |
|
Current Tax |
2.3 |
1.3 |
2.9 |
6.1 |
3.5 |
|
Current Tax - Total |
2.3 |
1.3 |
2.9 |
6.1 |
3.5 |
|
Deferred Tax |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Deferred Tax - Total |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Income Tax - Total |
2.4 |
1.3 |
3.0 |
6.1 |
3.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
CNY |
CNY |
CNY |
CNY |
CNY |
|
Exchange Rate |
6.294 |
6.5897 |
6.827 |
6.823 |
7.3041 |
|
Auditor |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu Lun
Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
34.9 |
50.5 |
48.2 |
35.2 |
40.4 |
|
Notes Receivable |
0.2 |
0.7 |
0.8 |
0.4 |
0.8 |
|
Dividend Receivable |
- |
- |
- |
0.5 |
1.7 |
|
Interest Receivables |
- |
- |
- |
- |
0.0 |
|
Accounts Receivable (Gross) |
60.2 |
55.8 |
61.3 |
62.6 |
63.6 |
|
Provision for Doubtful Accounts |
-16.0 |
-15.8 |
-15.6 |
-16.7 |
-15.4 |
|
Payment in Advance |
62.1 |
46.2 |
22.7 |
27.6 |
21.4 |
|
Other Receivables |
25.8 |
21.9 |
13.4 |
19.1 |
22.0 |
|
Materials in Transit |
- |
- |
- |
0.0 |
0.0 |
|
Raw Materials |
4.0 |
4.0 |
3.5 |
5.6 |
6.2 |
|
Work-in-Progress |
14.6 |
15.3 |
14.6 |
18.5 |
21.8 |
|
Finished Products/Goods in Store |
86.2 |
81.9 |
83.2 |
116.8 |
107.3 |
|
Circulating Material |
- |
- |
0.3 |
0.0 |
0.4 |
|
Development Cost |
- |
- |
- |
0.0 |
0.6 |
|
Subcontracted Material |
2.6 |
1.5 |
1.1 |
2.0 |
0.4 |
|
Products in Transit |
8.3 |
5.8 |
4.8 |
9.0 |
12.2 |
|
Materials in Transit(1) |
0.0 |
- |
- |
- |
- |
|
Other |
- |
- |
0.0 |
0.1 |
0.1 |
|
Provision/Allowance for Inventory |
- |
- |
- |
-14.7 |
-16.2 |
|
Total Current Assets |
282.9 |
267.8 |
238.4 |
266.1 |
267.1 |
|
|
|
|
|
|
|
|
Financial Assets for Sale |
0.2 |
0.2 |
0.2 |
4.8 |
10.6 |
|
Long Term Equity Investment |
25.3 |
22.9 |
21.0 |
26.1 |
23.8 |
|
Real Estate Investment |
6.5 |
6.5 |
6.6 |
6.9 |
6.7 |
|
Buildings & Structures |
71.8 |
67.3 |
63.9 |
65.2 |
62.4 |
|
Machinery and Equipment |
51.0 |
49.7 |
49.0 |
60.5 |
60.8 |
|
Transportation Equipment |
6.1 |
6.1 |
6.2 |
7.0 |
6.2 |
|
Electric Equipment |
8.7 |
8.6 |
9.1 |
9.2 |
8.9 |
|
Fixed Asset Decoration |
5.0 |
4.7 |
4.5 |
4.4 |
4.1 |
|
Other Equipment |
1.1 |
1.1 |
1.0 |
1.2 |
1.1 |
|
Accumulated Depreciation |
-62.8 |
-55.7 |
-52.8 |
-54.8 |
-48.8 |
|
Provision for Impairment of Fixed Assets |
-1.0 |
-1.0 |
-1.1 |
-1.2 |
-1.8 |
|
Construction in Progress |
2.3 |
1.2 |
9.3 |
10.7 |
5.2 |
|
Development Cost |
- |
0.0 |
- |
0.0 |
- |
|
Intangible Assets, Gross |
13.8 |
15.6 |
14.0 |
17.0 |
15.9 |
|
Accumulated Intangible Amortization |
-4.3 |
-3.9 |
-3.1 |
-3.8 |
-3.0 |
|
Provision for Impairment of Intangible |
- |
- |
- |
-0.1 |
-0.1 |
|
Long Term Prepaid Expense |
- |
- |
- |
0.3 |
0.3 |
|
Deferred Income Tax Assets |
0.1 |
0.2 |
0.2 |
0.3 |
0.3 |
|
Total Assets |
406.5 |
391.4 |
366.4 |
419.8 |
419.9 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
77.5 |
51.7 |
91.5 |
135.9 |
143.1 |
|
Notes Payable |
3.8 |
4.9 |
2.7 |
6.2 |
6.9 |
|
Accounts Payable |
31.4 |
38.5 |
36.8 |
38.9 |
35.5 |
|
Customer Advance |
46.3 |
32.8 |
12.7 |
17.8 |
14.8 |
|
Accrued Payroll |
2.1 |
2.1 |
0.8 |
2.2 |
3.9 |
|
Taxes Payable |
3.7 |
4.2 |
8.3 |
7.4 |
4.4 |
|
Interest Payable |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Dividends Payable |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Other Creditors |
8.7 |
9.4 |
11.4 |
11.0 |
22.5 |
|
Current Portion of Long Term Debt |
- |
- |
0.3 |
0.3 |
0.3 |
|
Other Current Liabilities |
- |
30.4 |
- |
- |
- |
|
Total Current Liabilities |
173.9 |
174.2 |
164.8 |
219.9 |
231.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax Liabilities |
0.1 |
0.2 |
0.2 |
0.7 |
2.0 |
|
Other Non-current Liabilities |
- |
0.2 |
0.4 |
- |
- |
|
Minority Interest |
0.1 |
1.8 |
1.8 |
4.4 |
4.3 |
|
Total Liabilities |
174.1 |
176.4 |
167.2 |
225.1 |
237.9 |
|
|
|
|
|
|
|
|
Capital Stock |
67.5 |
64.5 |
62.2 |
62.3 |
58.2 |
|
Paid In Capital |
148.3 |
141.7 |
136.9 |
138.9 |
134.1 |
|
Surplus Reserve |
1.6 |
1.5 |
1.4 |
1.4 |
1.4 |
|
Undistributed Profit |
15.0 |
7.3 |
-1.4 |
-7.9 |
-11.7 |
|
Translation Adjustments |
- |
- |
- |
- |
0.0 |
|
Total Equity |
232.4 |
215.0 |
199.2 |
194.7 |
181.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
406.5 |
391.4 |
366.4 |
419.8 |
419.9 |
|
|
|
|
|
|
|
|
S/O-A Share |
424.9 |
424.9 |
424.9 |
424.9 |
424.9 |
|
Total Common Shares Outstanding |
424.9 |
424.9 |
424.9 |
424.9 |
424.9 |
|
T/S-A Share |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advance |
46.3 |
32.8 |
12.7 |
17.8 |
14.8 |
|
Accumulated Intangible Amortization |
4.3 |
3.9 |
3.1 |
3.8 |
3.0 |
|
Provision for Impairment of Intangibles |
- |
- |
- |
0.1 |
0.1 |
|
Full-Time Employees |
3,149 |
3,549 |
4,022 |
4,057 |
3,024 |
|
Shareholders |
79,880 |
88,622 |
108,208 |
124,314 |
82,952 |
|
Current maturities |
- |
- |
0.3 |
0.3 |
- |
|
Total Long Term Debt, Supplemental |
- |
- |
0.3 |
0.3 |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
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) |
6.46438 |
6.768989 |
6.831007 |
6.950445 |
7.605973 |
|
Auditor |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
BDO China Shu
Lun Pan CPAs |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Recd fr Sale of Gds & Svc Rendered |
769.1 |
605.1 |
462.2 |
573.8 |
549.2 |
|
Cash Paid for Goods and Services |
-752.0 |
-563.5 |
-415.1 |
-534.0 |
-515.0 |
|
Amortization of Intangibles |
0.6 |
0.6 |
0.6 |
0.6 |
0.7 |
|
Tax Refund Received |
48.9 |
23.1 |
24.6 |
21.8 |
29.6 |
|
Other Cash Receipts Rel to Operating Act |
10.1 |
11.2 |
17.5 |
14.0 |
33.9 |
|
Cash Taxes Paid |
-24.8 |
-23.7 |
-19.6 |
-19.5 |
-14.8 |
|
Other Cash Payment Rel to Operating Act |
-57.5 |
-48.6 |
-48.2 |
-48.9 |
-59.8 |
|
Cash from Operating Activities |
-6.2 |
3.7 |
21.5 |
7.2 |
23.1 |
|
|
|
|
|
|
|
|
Sale/Maturity/Redemption of Investment |
- |
- |
8.9 |
0.7 |
7.8 |
|
Cash from Return on Investments |
0.9 |
2.7 |
1.7 |
1.3 |
3.0 |
|
Sale of Fixed, Intangible & other Assets |
5.6 |
4.3 |
3.0 |
19.7 |
9.8 |
|
Sale of Subsidiaries |
- |
16.0 |
35.1 |
0.2 |
0.1 |
|
Other Cash Receipts from Investing Act |
1.4 |
- |
0.4 |
1.0 |
0.7 |
|
Acquire Fixed, Intangible & other Assets |
-3.9 |
-3.9 |
-6.4 |
-10.4 |
-12.4 |
|
Cash Paid for Investments |
- |
- |
- |
-0.5 |
-0.4 |
|
Other Cash Paid for Investing Activities |
-1.7 |
-1.4 |
- |
- |
- |
|
Cash from Investing Activities |
2.3 |
17.7 |
42.7 |
12.1 |
8.7 |
|
|
|
|
|
|
|
|
Cash from Investors |
- |
- |
- |
- |
0.0 |
|
Cash from Borrowings |
113.5 |
130.6 |
153.9 |
167.8 |
205.3 |
|
Cash from Issuance of Bonds |
- |
29.5 |
- |
- |
- |
|
Other Cash from Financing Activities |
7.1 |
- |
- |
- |
- |
|
Repayment of Borrowings |
-121.7 |
-172.5 |
-198.2 |
-184.8 |
-227.2 |
|
Cash Paid for Dividend and Interest |
-4.2 |
-4.6 |
-7.9 |
-10.9 |
-11.0 |
|
Other Cash Paid for Financing Activities |
-2.7 |
-6.9 |
-2.5 |
- |
-1.4 |
|
Cash from Financing Activities |
-7.9 |
-24.0 |
-54.7 |
-27.9 |
-34.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
Net Change in Cash |
-11.6 |
-2.7 |
9.3 |
-8.9 |
-2.7 |
|
|
|
|
|
|
|
|
Depreciation |
7.3 |
6.7 |
8.4 |
8.3 |
7.5 |
|
Beginning Balance |
42.6 |
43.4 |
33.7 |
42.0 |
41.1 |
|
Ending Balance |
31.0 |
40.7 |
43.0 |
33.1 |
38.4 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
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.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.