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Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SILICON MOTION, INC. |
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Registered Office : |
8F.-1, No.36, Taiyuan St., Jhubei City,
Hsinchu County 302 |
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Country : |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
08.04.1997 |
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Com. Reg. No.: |
97440546 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of electronic
components |
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No. of Employees : |
About 420 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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) |
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|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
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Source
: CIA |
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Company Name: |
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Former Name: |
Silicon Motion Tech. Inc. |
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Supplied Name: |
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Trading Address: |
8F.-1, No.36,
Taiyuan St., Jhubei City, Hsinchu County 302, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-3-552-6888 |
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Fax Number: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1997-4-8 with registered number 97440546
as Joint Stock Company in
Taiwan.
The subject (Silicon Motion Technology Corporation) was listed on Nasdaq
Stock Exchange on 2007-5.
Change of Name
|
Former English Name |
Silicon Motion Tech. Inc. |
|
Current English Name |
Silicon Motion, Inc. |
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Name |
Subscription Shares |
|
Silicon Motion (Dutch) B.V |
105,412,000 |
The information above is that of subject’s major shareholders.
Offices
|
1 |
|
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Address |
1591 McCarthy Boulevard, Milpitas, CA 95035, USA |
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Telephone Number |
+1-408-519-7200 |
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Fax Number |
+1-408-519-7101 |
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2 |
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Address |
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Telephone Number |
+886-2-2219-6688 |
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Fax Number |
+886-2-2219-6868 |
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3 |
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Address |
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Telephone Number |
+86-755-8204-9580 |
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Fax Number |
+86-755-8204-9519 |
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4 |
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Address |
A-18, No. 11, GuoTai Road, Shanghai 200433, P.R.C. |
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Telephone Number |
+86-21-6510-7780 |
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Fax Number |
+86-21-6510-7821 |
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5 |
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Address |
12B03, Bld A, Boya International Center, No. 1, Lizezhongyi Road, Chaoyang
District, Beijing 100102, P.R.C. |
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Telephone Number |
+86-10-8478-2140 |
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Fax Number |
+86-10-6471-9546 |
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6 |
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Address |
KDX Shin-Yokohama 381 bldg. |
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Telephone Number |
+81-45-478-5220 |
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Fax Number |
+81-45-478-5212 |
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7 |
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Address |
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Telephone Number |
+82-31-782-3880~2 |
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Fax Number |
+82-31-785-8779 |
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8 |
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Address |
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Telephone Number |
+82-31-782-3700 |
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Fax Number |
+82-31-711-0313 |
Factory
|
Address: |
8F-1, 2, 7F-1, 2, 6F-1, 2, 3, 5, No.36, Taiyuan St., Jhubei City, Hsinchu
County 302, Taiwan (R.O.C.) |
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Date of Registration: |
2008-11-20 |
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Factory Registration Number: |
99700541 |
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Factory Manager: |
Bangji Zhou |
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Status: |
In Production |
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Date of Last Annual Return: |
2008-11-20 |
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Major Products: |
261 Semi-conductor |
Core Management
Directors
|
1 |
|
|
Name |
Bangji Zhou |
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Position |
Board Chairman |
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Date of Appointment |
2002-8-13 |
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2 |
|
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Name |
Jiazhang Gou |
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Position |
Director |
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3 |
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Name |
Wenzhong Zhang |
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Position |
Director |
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4 |
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Name |
Zhihe Huang |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 420 Employees (Taiwan) |
Offices &
Factories
|
|
Headquarters |
|
Add |
8F.-1, No.36, Taiyuan St., Jhubei City, Hsinchu County 302, Taiwan
(R.O.C.) |
Production
Information
Subject is a manufacturer of electronic
components and etc.
It is introduced that subject has a factory in
Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Development and trading of semiconductor memory components (SDD) and
its system. |
|
2 |
Importing, exporting and trading of above business. |
|
CC01080 |
Manufacturing of electronic components. |
|
F119010 |
Wholesales of electronic materials. |
|
F401010 |
International trading business. |
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F401030 |
Manufacturing and exporting industry. |
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CB01010 |
Manufacturing of machinery and equipment. |
|
CE01010 |
Manufacturing of general instrument. |
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CE01030 |
Manufacturing of optical instrument. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases its raw materials, components
and etc both at home and abroad.
The subject imported some technologies from USA, Japan and etc.
The subject is mainly engaged in sales of electronic components and etc.
It is introduced that subject’s selling
territory covering all over the world.
The subject’s major customers are
manufacturers of electronic products and etc.
The subject’s products are applied to
computers, Tablet PC, smart phones and etc.
The subject owns two brands named “SMI” (Mobile
Storage and Multimedia SoC products) and “FCI” (Mobile Communications
products).
The subject has cooperated with many famous companies, such as
“Samsung”, “SanDisk”, “Toshiba”, “Micron”,” Intel”, “Hynix”, “hp”, “Sharp”,
“ZTE” and etc.
It is introduced that subject has many distributors covering all over
the world.
Major Products
|
Type |
Product |
|
Mobile Storage |
Flash Card Controllers |
|
USB Flash Drive Controllers |
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Solid State Drive Controllers |
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Single-Chip Solid State Drive |
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Embedded Flash Controllers |
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Mobile Communications |
Mobile TV IC Solutions |
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CDMA RFICs |
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Electronic Toll Collection SoCs |
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Multimedia SoCs |
Embedded Graphics |
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Embedded GPU |
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Server GPU |
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Others |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
components and etc |
COB, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
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Raw materials,
components and etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electronic components and etc. |
COB, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electronic components and etc. |
L/C , T.T, etc. |
100% |
Notes: Subject’s settlement for export is
generally in USD
Unit: USD/000
|
Date |
2012-9-30 |
2013-9-30 |
|
Cash and cash equivalents |
146,570.00 |
160,430.00 |
|
Short-term investments |
W |
2,946.00 |
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Accounts receivable (net) |
37,593.00 |
30,444.00 |
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Inventories |
36,801.00 |
28,816.00 |
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Refundable deposits - current |
15,240.00 |
15,280.00 |
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Deferred income tax assets (net) |
2,565.00 |
1,111.00 |
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Prepaid expenses and other current assets |
3,248.00 |
4,696.00 |
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Total current assets |
242,017.00 |
243,723.00 |
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Long-term investments |
178.00 |
133.00 |
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Property and equipment (net) |
23,490.00 |
28,780.00 |
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Goodwill and intangible assets(net) |
35,465.00 |
35,471.00 |
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Other assets |
4,835.00 |
4,327.00 |
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Total assets |
305,985.00 |
312,434.00 |
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Accounts payable |
27,502.00 |
13,533.00 |
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Income tax payable |
3,506.00 |
7,309.00 |
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Accrued expenses and other current liabilities |
21,216.00 |
22,676.00 |
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Total current liabilities |
52,224.00 |
43,518.00 |
|
3,922.00 |
3,921.00 |
|
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Total liabilities |
56,146.00 |
47,439.00 |
|
Shareholders’ equity |
249,839.00 |
264,995.00 |
|
Total liabilities & shareholders’ equity |
305,985.00 |
312,434.00 |
Unit: USD/000
|
Date |
2012-1-1~2012-9-30 |
2013-1-1~2013-9-30 |
|
Net Sales |
210,766.00 |
172,819.00 |
|
Cost of sales |
109,399.00 |
91,653.00 |
|
Gross profit |
101,367.00 |
81,166.00 |
|
Operating expenses |
|
|
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Research & development |
36,678.00 |
34,121.00 |
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Sales & marketing |
12,120.00 |
10,019.00 |
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General & administrative |
9,189.00 |
8,658.00 |
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Operating income |
43,380.00 |
43,380.00 |
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Non-operating income (expense) |
|
|
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Gain on sale of investment |
2.00 |
3.00 |
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Interest income, net |
972.00 |
1,252.00 |
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Foreign exchange gain (loss),net |
438.00 |
-98.00 |
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Others, net |
18.00 |
124.00 |
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Subtotal |
1,430.00 |
1,281.00 |
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Income before income tax |
44,810.00 |
29,649.00 |
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Income tax expense (benefit) |
5,522.00 |
7,689.00 |
|
Net income |
39,288.00 |
21,960.00 |
Note: The above financial figures are
unaudited.
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
|
2002, Chongsu, 213 |
|
|
Date of Trial: |
2004-4-8 |
|
Reason: |
Compensation For
Damages |
|
Complainant: |
Silicon Motion, Inc. |
|
Defendant: |
Phison Electronics Corp |
|
Name |
Mr. Yan |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
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 |
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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 |
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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 |
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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 |
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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.