|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEO SOLAR POWER CORP |
|
|
|
|
Registered Office : |
No.7, Li-Hsin Rd. 3, Hsinchu Science Park, Hsinchu, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.08.2005 |
|
|
|
|
Com. Reg. No.: |
27763753 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of solar cell |
|
|
|
|
No. of Employees : |
3,300 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.7, Li-Hsin Rd. 3, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-598-0126 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact
name and address are as above.
Subject was incorporated on 2005-8-26 with registered number 27763753 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 2009-1-12
|
Subscription Shares |
|
|
Delta Electronics, Inc. |
121,524,872 |
|
Taiwan United Venture Capital Corp. |
4,593,286 |
|
Lotus Pharmaceutical Co., Ltd. |
2,621,996 |
|
Kunxi Lin |
1,500,020 |
|
Fuxian Hong |
1,260,968 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Taiwan United Venture Capital Corp. |
|
Registered Address: |
10F, No. 39, Jihu Road, Neihu District, Taipei City |
|
Date of Foundation: |
1995-4-10 |
|
Registration Number: |
89392253 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 1,000,000,000 (USD 33,900,000) (As of 2014.2, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 644,000,000 (USD 21,831,600) |
|
Legal Representatives: |
Yigui Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-7-22 |
|
2 |
|
|
Registered Name: |
Lotus Pharmaceutical Co., Ltd. |
|
Registered Address: |
11f, No. 125, 5 Sec, Nanjing E Road, Songshan District, Taipei City |
|
Date of Foundation: |
2002-3-5 |
|
Registration Number: |
80328870 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 9,255,380,000 (USD 313,757,382) (As of 2014.2, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 6,086,713,630 (USD 206,339,592) |
|
Legal Representatives: |
Daren Zhou |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-10-7 |
Factories
|
1 |
|
|
Address: |
No. 518, 2 Sec, Bentian Road, Annan District, Tainan City |
|
Date of Registration: |
2011-11-7 |
|
Factory Registration Number: |
67000224 |
|
Factory Manager: |
Zhenyu Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-11-7 |
|
2 |
|
|
Address: |
No. 7, Lixing 3 Road, East District, Xinzhu City, Hsinchu Science Park |
|
Date of Registration: |
2008-11-12 |
|
Factory Registration Number: |
95A00776 |
|
Factory Manager: |
Zhenyu Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-1-11 |
|
3 |
|
|
Address: |
2F, No. 25, R&D 2 Road, East District, Xinzhu City, Hsinchu Science Park |
|
Date of Registration: |
2010-5-21 |
|
Factory Registration Number: |
95B00776 |
|
Factory Manager: |
Zhenyu Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-7-8 |
|
4 |
|
|
Address: |
No. 6, Kebei 2 Road, Zhunan Town, Miaoli County, Hsinchu Science Park |
|
Date of Registration: |
2011-10-24 |
|
Factory Registration Number: |
95C00776 |
|
Factory Manager: |
Zhenyu Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-7-8 |
|
5 |
|
|
Address: |
No. 2, Wenhua Road, Fengshan, Hukou Villdge, Hsinchu County |
|
Date of Registration: |
2006-10-19 |
|
Date Of Closing Business |
2013-2-19 |
|
Factory Registration Number: |
99700353 |
|
Factory Manager: |
Zhenyu Wang |
|
Status: |
Close Business |
|
Date of Last Annual Return: |
2013-2-19 |
Branch Companies
|
1 |
|
|
Name |
Neo Solar Power Corp., Tainan Branch |
|
Address |
No.518, Sec. 2, Bentian Rd., Annan Dist., Tainan City 70955, Taiwan R.O.C. |
|
Registration Number |
28113053 |
|
Date of Registration |
2011-1-28 |
|
Status |
Live Company |
|
Manager Name |
Zhenyu Wang |
|
Date of Last Annual Return |
2012-1-5 |
|
2 |
|
|
Name |
Neo Solar Power Corp., Hu-Kou Branch |
|
Address |
No.2,Wen-Hua Rd., Hsinchu Industrial Park, Hu-Kou, Hsinchu County 303,Taiwan,R.O.C. |
|
Registration Number |
28434724 |
|
Date of Registration |
2008-5-21 |
|
Date Of Abolishment |
2013-1-15 |
|
Status |
Abolish |
|
Manager Name |
Zhizhong Wen |
|
Date of Last Annual Return |
2012-1-5 |
Core Management
Directors
|
1 |
|
|
Name |
Kunxi Lin |
|
Position |
Board Chairman/Manager |
|
Date of Appointment |
2006-11-21 |
|
2 |
|
|
Name |
Liangfu Liu |
|
Position |
Director |
|
3 |
|
|
Name |
Mingzhong Zhang |
|
Position |
Director |
|
4 |
|
|
Name |
Yayi Huang |
|
Position |
Director |
|
5 |
|
|
Name |
Fuxian Hong |
|
Position |
Director |
|
Date of Appointment |
2005-12-30 |
|
6 |
|
|
Name |
Xueli Li |
|
Position |
Director |
|
7 |
|
|
Name |
Jiadong Xu |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Xianming Lin |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Xueren Jian |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Weijun Shen |
|
Position |
Manager |
|
Date of Appointment |
2013-1-1 |
Personnel Structure
|
Total Employees |
About 3,300 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.7, Li-Hsin Rd. 3, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of solar cell, etc.
Subject has factories in Taiwan and the mainland of China for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Electronic components manufacturing |
|
CC01090 |
Battery manufacturing |
|
CC01010 |
Power generation, transmission and distribution of mechanical manufacturing |
|
F119010 |
Electronics material wholesale business (Limited operating outside) |
|
F219010 |
Electronics components retail business (Limited operating outside) |
|
F401010 |
The international trade |
|
|
Research. Development. Design. Manufacturing and selling the following products |
|
1 |
The solar cell and related systems |
|
2 |
Solar module, and a wafer |
|
3 |
Concurrently with the company's products related to import and export trade business |
The components and raw material for production are are purchased from both home and abroad.
The subject is mainly engaged in sales of solar cell, etc.
The major products sold by subject include black 19 cell, super 18 cell, classic cell, NSP/Delsolar module, etc.
The subject sales regions include Asia, America, Europe, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Products |
Components and raw material |
|
Terms |
Cash, T/T, etc |
Import
|
Products |
Components and raw material |
|
Terms |
Sales
Domestic Markets
|
Product |
|
|
Terms |
T/T, Cash, etc |
Export
|
Products |
Solar cell, etc. |
|
Terms |
L/C, etc |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
5,545,877.00 |
5,439,989.00 |
|
Financial assets measured at fair value through profit or loss - current |
0.00 |
0.00 |
|
Accounts receivable - net |
2,298,237.00 |
1,569,075.00 |
|
Accounts receivable - related parties - net |
25,333.00 |
0.00 |
|
Other receivables |
51,553.00 |
92,813.00 |
|
Inventories |
435,851.00 |
881,626.00 |
|
Other prepayments |
306,038.00 |
355,286.00 |
|
Other current assets |
10,728.00 |
6,235.00 |
|
Current assets |
8,673,617.00 |
8,345,024.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
646,759.00 |
0.00 |
|
Financial assets carried at cost - non current |
0.00 |
142,800.00 |
|
Equity investments under equity method |
427,021.00 |
242,914.00 |
|
Prepayments for long-term investments |
22,590.00 |
0.00 |
|
Investments |
449,611.00 |
242,914.00 |
|
Funds and long-term investments |
1,096,370.00 |
385,714.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
440,596.00 |
440,596.00 |
|
Buildings and structures |
2,740,925.00 |
2,737,205.00 |
|
Machinery and equipment |
10,218,819.00 |
9,928,975.00 |
|
Testing equipment |
7,722.00 |
7,142.00 |
|
Office equipment |
12,871.00 |
7,704.00 |
|
Leasehold improvements |
0.00 |
11,088.00 |
|
Other facilities |
164,618.00 |
146,639.00 |
|
Fixed assets cost |
13,585,551.00 |
13,279,349.00 |
|
Accumulated depreciation |
-4,655,429.00 |
-2,964,827.00 |
|
Accumulated impairment - fixed assets |
-79,683.00 |
0.00 |
|
Construction in process and prepayment for equipments |
420,331.00 |
635,105.00 |
|
Fixed assets |
9,270,770.00 |
10,949,627.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Guarantee deposits paid |
14,484.00 |
28,938.00 |
|
Deferred charges |
48,522.00 |
72,414.00 |
|
Other assets - other |
1,348,410.00 |
2,162,464.00 |
|
Other assets |
1,411,416.00 |
2,263,816.00 |
|
Assets |
20,452,173.00 |
21,944,181.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
2,712,427.00 |
679,949.00 |
|
Financial liabilities measured at fair value through profit or loss - current |
0.00 |
1,017.00 |
|
Accounts payable |
716,549.00 |
956,138.00 |
|
Accounts payable - related parties |
62,420.00 |
413.00 |
|
Income tax payable |
0.00 |
40,574.00 |
|
Other payables |
495,819.00 |
1,429,201.00 |
|
Advance receipts |
9,993.00 |
111,945.00 |
|
Long-term liabilities - current portion |
1,286,600.00 |
998,200.00 |
|
Other current liabilities |
1,173,356.00 |
969,033.00 |
|
Current liabilities |
6,457,164.00 |
5,186,470.00 |
|
Long term Liabilities |
|
|
|
Bonds payable |
0.00 |
0.00 |
|
Long-term borrowings |
3,086,824.00 |
2,205,800.00 |
|
Long-term liabilities |
3,086,824.00 |
2,205,800.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Guarantee deposits received |
35.00 |
474.00 |
|
Other liabilities |
35.00 |
474.00 |
|
Liabilities |
9,544,023.00 |
7,392,744.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
4,606,774.00 |
4,289,048.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
10,477,597.00 |
12,023,580.00 |
|
Capital surplus - long-term equity investments |
40,360.00 |
0.00 |
|
Capital surplus - employee stock option |
0.00 |
0.00 |
|
Capital surplus - other |
17,856.00 |
0.00 |
|
Capital surplus |
10,535,813.00 |
12,023,580.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
0.00 |
273,849.00 |
|
Unappropriated retained earnings |
-4,173,633.00 |
-2,035,040.00 |
|
Retained earnings |
-4,173,633.00 |
-1,761,191.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
-415.00 |
0.00 |
|
Unrealized gains (losses) on financial instruments |
-24,237.00 |
0.00 |
|
Unrealized Revaluation Increment |
-36,152.00 |
0.00 |
|
Equity adjustments |
-60,804.00 |
0.00 |
|
Stockholdersˉ equity |
10,908,150.00 |
14,551,437.00 |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
12,393,047.00 |
20,716,903.00 |
|
Sales returns |
121,311.00 |
140,065.00 |
|
Sales |
12,271,736.00 |
20,576,838.00 |
|
Operating income |
12,271,736.00 |
20,576,838.00 |
|
Cost of sales |
15,518,567.00 |
22,630,793.00 |
|
Operating costs |
15,518,567.00 |
22,630,793.00 |
|
Gross profit (loss) from operations |
-3,246,831.00 |
-2,053,955.00 |
|
Realized gains on intercompany transactions |
33.00 |
-290.00 |
|
Selling expense |
271,494.00 |
198,937.00 |
|
General and administrative expenses |
318,323.00 |
287,087.00 |
|
Research and development expenses |
155,829.00 |
98,906.00 |
|
Operating expenses |
745,646.00 |
584,930.00 |
|
Operating income (loss) |
-3,992,444.00 |
-2,639,175.00 |
|
Non-Operating Income |
|
|
|
Interest income |
17,879.00 |
20,878.00 |
|
Dividends |
866.00 |
0.00 |
|
Investment income |
866.00 |
0.00 |
|
Gains on disposal of fixed assets |
1,290.00 |
0.00 |
|
Gains on sale of investments |
0.00 |
764.00 |
|
Foreign exchange gains |
6,127.00 |
46,123.00 |
|
Revaluation gain on financial assets |
0.00 |
0.00 |
|
Revaluation gain on financial liabilities |
0.00 |
0.00 |
|
Miscellaneous income |
27,039.00 |
44,352.00 |
|
Non-operating revenues and gains |
53,201.00 |
112,117.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
73,484.00 |
34,496.00 |
|
Losses from long-term equity investments under the equity method |
41,085.00 |
100,669.00 |
|
Investment loss |
41,085.00 |
100,669.00 |
|
Loss on disposal of fixed assets |
67,026.00 |
0.00 |
|
Foreign exchange losses |
0.00 |
0.00 |
|
Impairment loss on assets |
79,683.00 |
0.00 |
|
Revaluation loss on financial assets |
1,473.00 |
183,461.00 |
|
Revaluation loss on financial liabilities |
0.00 |
0.00 |
|
Miscellaneous disbursements |
12,213.00 |
0.00 |
|
Non-operating expenses and losses |
274,964.00 |
318,626.00 |
|
Income from continuing operations before income tax |
-4,214,207.00 |
-2,845,684.00 |
|
Income tax expense (benefit) |
-40,574.00 |
51,983.00 |
|
Income from continuing operations |
-4,173,633.00 |
-2,897,667.00 |
|
Net income (loss) |
-4,173,633.00 |
-2,897,667.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-9.69 |
-7.76 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
-9.69 |
-7.76 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-4,173,633.00 |
-2,897,667.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
1,857,233.00 |
1,379,764.00 |
|
Amortization Expense |
43,917.00 |
60,816.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
63,075.00 |
1,966.00 |
|
Share-based Compensation |
10,504.00 |
0.00 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
0.00 |
0.00 |
|
Effects of Exchange Rate Changes Of Bonds Payable |
0.00 |
-13,062.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-185,644.00 |
379,154.00 |
|
Investment Loss (Income) Recognized under Equity Method |
41,085.00 |
100,669.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
65,736.00 |
0.00 |
|
Property, Plan and Equipment Transferred to Expenses |
0.00 |
7,600.00 |
|
Loss (Gain) on Disposal of Investments |
0.00 |
-764.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-1,017.00 |
93,175.00 |
|
Impairment Loss on Non-Financial Assets |
79,683.00 |
0.00 |
|
Unrealized Gain (Loss) on Intercompany Transactions |
0.00 |
290.00 |
|
Realized Loss (Gain) on Intercompany Transactions |
-33.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
0.00 |
0.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Accounts Receivable |
-792,237.00 |
813,242.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-25,333.00 |
0.00 |
|
Decrease (Increase) in Other Receivables |
41,260.00 |
6,818.00 |
|
Decrease (Increase) in Inventories |
631,419.00 |
363,707.00 |
|
Decrease (Increase) in Other Prepayments |
863,302.00 |
-78,905.00 |
|
Decrease (Increase) in Other Current Assets |
0.00 |
0.00 |
|
Increase (Decrease) in Notes Payable |
-239,589.00 |
-443,661.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
62,007.00 |
405.00 |
|
Increase (Decrease) in Income Tax Payable |
-40,574.00 |
-185,818.00 |
|
Increase (Decrease) in Other Payables |
-1,042.00 |
-415,752.00 |
|
Increase (Decrease) in Receipts in Advance |
-101,952.00 |
-175,162.00 |
|
Increase (Decrease) in Other Current Liabilities |
204,356.00 |
485,533.00 |
|
Net Cash Provided by (Used in) Operating Activities |
-1,597,477.00 |
-517,652.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-20,249.00 |
-1,800.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
0.00 |
2,564.00 |
|
Acquisition of Financial Assets Carried at Cost |
0.00 |
-142,800.00 |
|
Proceeds from Disposal of Financial Assets Carried at Cost |
3,134.00 |
0.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-199,525.00 |
-161,292.00 |
|
Decrease (Increase) in Prepayments for Long-term Investments |
-22,590.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-1,257,908.00 |
-4,443,973.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
1,773.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
14,454.00 |
1,269.00 |
|
Increase in Deferred Charges |
-20,025.00 |
-63,765.00 |
|
Decrease (Increase) in Restricted Assets |
-4,493.00 |
16,000.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-1,505,429.00 |
-4,793,797.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
2,032,478.00 |
411,392.00 |
|
Proceeds from Long-term Debt |
1,169,424.00 |
1,622,000.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
-439.00 |
429.00 |
|
Cash Dividends Paid |
0.00 |
-1,441,787.00 |
|
Proceeds from Issuance of Shares |
0.00 |
3,723,867.00 |
|
Exercise of Employee Stock Options |
7,331.00 |
9,518.00 |
|
Net Cash Provided by (Used in) Financing Activities |
3,208,794.00 |
4,325,419.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
105,888.00 |
-986,030.00 |
|
Cash and Cash Equivalents, Beginning of year |
5,439,989.00 |
6,426,019.00 |
|
Cash and Cash Equivalents, End of year |
5,545,877.00 |
5,439,989.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
69,279.00 |
43,298.00 |
|
Interest Paid- Excluding Capitalized Interest |
69,279.00 |
43,298.00 |
|
Income Tax Paid |
0.00 |
237,801.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
1,286,600.00 |
998,200.00 |
|
Current Portion of Bonds Payable |
0.00 |
0.00 |
|
Conversion of Bonds to Common Stock |
0.00 |
1,104,896.00 |
|
Employee Bonus Payable and Compensation Due to Directors and Supervisors |
0.00 |
0.00 |
|
Financial Assets Carried at Cost Reclassified as Available for Sale Financial Assets |
139,666.00 |
0.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
325,568.00 |
5,019,400.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
932,340.00 |
-575,427.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
1,257,908.00 |
4,443,973.00 |
|
Other Supplemental Information |
|
|
|
Acquisition of available-for sale financial assets |
517,052.00 |
0.00 |
|
Issuance of common Stock for merger conversion |
-496,803.00 |
0.00 |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
088830 |
|
Debtor Name: |
Neo Solar Power Corp. |
|
Document Number: |
09505170320 |
|
Date of Registration: |
2006/10/12 |
|
Status: |
Pay Off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
097556 |
|
Debtor Name: |
Neo Solar Power Corp. |
|
Document Number: |
09830449400 |
|
Date of Registration: |
2009/6/17 |
|
Status: |
Pay Off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
099401 |
|
Debtor Name: |
Neo Solar Power Corp. |
|
Document Number: |
09930266450 |
|
Date of Registration: |
2010/2/24 |
|
Status: |
Pay Off |
Lawsuit
|
1 |
|
|
Trial Number: |
2011,Zhongsu,57 |
|
Date of Trial: |
2013-6-25 |
|
Reason: |
Payment Of Damages |
|
2 |
|
|
Trial Number: |
2012,Sisheng,472 |
|
Date of Trial: |
2013-1-15 |
|
Reason: |
Command Creditors Sue Within A Time Limit |
|
3 |
|
|
Trial Number: |
2012,Sisheng,241 |
|
Date of Trial: |
2012-7-16 |
|
Reason: |
Agent Transform |
|
4 |
|
|
Trial Number: |
2011,Zhongsu,57 |
|
Date of Trial: |
2011-9-26 |
|
Reason: |
Payment Of Damages |
|
5 |
|
|
Trial Number: |
2011,Bu,565 |
|
Date of Trial: |
2011-6-28 |
|
Reason: |
Return of stock options |
|
6 |
|
|
Trial Number: |
2011,Sicu,2851 |
|
Date of Trial: |
2011-4-7 |
|
Reason: |
Pay warrants |
|
7 |
|
|
Trial Number: |
2010, Bu,535 |
|
Date of Trial: |
2010-7-9 |
|
Reason: |
Payment Of Damages |
|
8 |
|
|
Trial Number: |
2008, Zhongsu,156 |
|
Date of Trial: |
2009-12-28 |
|
Reason: |
Payment Of Damages |
|
9 |
|
|
Trial Number: |
2008, Zhongsu,156 |
|
Date of Trial: |
2009-4-14 |
|
Reason: |
Payment Of Damages |
|
10 |
|
|
Trial Number: |
2008, Bu,859 |
|
Date of Trial: |
2008-9-16 |
|
Reason: |
Payment Of Damages |
|
Name |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.