|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HIWIN TECHNOLOGIES CORP. |
|
|
|
|
Registered Office : |
No. 7, Jingke Road, Nantun District,
Taichung City 40852 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.10.1989 |
|
|
|
|
Com. Reg. No.: |
23503047 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer and sale of ballscrew and
bearings |
|
|
|
|
No of Employees : |
About 35,000 |
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 : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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, Jingke Road, Nantun District,
Taichung City 40852, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2359-4510 |
|
Fax Number: |
Subject’s exact name and address are as above.
Subject
was incorporated on 1989-10-11 with registered number 23503047 as Joint Stock
Company in Taiwan.
Subject listed on Taiwan
stock exchange on 2009-06-26.
|
Name |
Subscription
Shares |
|
Yongcai Zhuo |
13,659,203 |
|
Jincai Chen |
|
|
5,678,421 |
|
|
Xunqin Li |
11,936,202 |
|
Wenheng Zhuo |
5,591,259 |
|
Huiqing Cai |
4,492,905 |
|
Sanxing Investment Co., Ltd. (literal
translation) |
2,899,012 |
|
Liangji Zhang |
1,779,160 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Sanxing Investment
Co., Ltd. (literal translation) |
|
Registered Address: |
7/F, No. 372, Linsen North Rd., Zhongshan Dist., Taipei City, Taiwan |
|
Date of Foundation: |
1997-04-23 |
|
Registration Number: |
97447365 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 80,000,000 (USD 2,632,000) (As of 2014.01, 1 NTD = 0.0329 USD) |
|
Paid-up Capital: |
NTD 80,000,000 (USD 2,632,000) |
|
Legal Representatives: |
Jingyi Huang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2012-10-23 |
Factories
|
1 |
|
|
Name: |
Hiwin Technologies Corp. Yunke The Third Factory |
|
Address: |
No. 26, Linkejia Road, 6, Changan Li, Douliu City, Yunlin County,
Taiwan |
|
Date of Registration: |
2013-05-20 |
|
Factory Registration Number: |
09000306 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-05-20 |
|
Major Products: |
259 Other metal and products |
|
2 |
|
|
Name: |
Hiwin Technologies Corp. Industrial The Third Factory |
|
Address: |
No. 23, 36 Road, Industrial Zone, Xiehe Li, Xitun Dist., Taichung City,
Taiwan |
|
Date of Registration: |
2011-11-28 |
|
Factory Registration Number: |
66000701 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-11-28 |
|
Major Products: |
293 Ordinary engineering devices
|
|
3 |
|
|
Name: |
Hiwin Technologies Corp. Industrial The Forth Factory |
|
Address: |
No. 30, 37 Road, Industrial Zone, Xiehe Li, Xitun Dist., Taichung City,
Taiwan |
|
Date of Registration: |
2013-11-08 |
|
Factory Registration Number: |
66002283 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-11-08 |
|
Major Products: |
292 Other specialized mechanical equipment |
|
4 |
|
|
Name: |
Hiwin Technologies Corp. Tanzi Factory |
|
Address: |
No. 83, Lane 36, Tanxing Road, Tanyang Li, Tanzi Dist., Taichung City,
Taiwan |
|
Date of Foundation: |
1983-10-12 |
|
Date of Registration: |
1983-11-02 |
|
Factory Registration Number: |
99633991 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2008-11-20 |
|
Major Products: |
293 Ordinary engineering devices |
|
5 |
|
|
Name: |
Hiwin Technologies Corp. Yunke Factory |
|
Address: |
No. 128, Section 3, Yunke Road, Huxi Li, Douliu City, Yunlin County,
Taiwan |
|
Date of Registration: |
2004-06-15 |
|
Factory Registration Number: |
99654583 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-07-18 |
|
Major Products: |
259 Other metal and products 292 Other specialized mechanical equipment 293 Ordinary engineering devices 303 Automobile parts 319 Unclassified other means of transport and its parts |
|
6 |
|
|
Name: |
Hiwin Technologies Corp. |
|
Address: |
No. 46, 37 Road, Industrial Zone, Xiehe Li, Xitun Dist., Taichung City,
Taiwan |
|
Date of Foundation: |
1990-03-03 |
|
Date of Registration: |
1990-11-15 |
|
Factory Registration Number: |
99669595 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
1990-11-15 |
|
Major Products: |
293 Ordinary engineering devices 292 Other specialized mechanical equipment 319 Unclassified other means of transport and its parts |
|
7 |
|
|
Name: |
Hiwin
Technologies Corp. Industrial The Second Factory |
|
Address: |
No. 1 and
3, 6 Road, Industrial Zone, Xiehe Li, Xitun Dist., Taichung City, Taiwan |
|
Date of Foundation: |
1996-07-11 |
|
Date of Registration: |
1997-09-06 |
|
Factory Registration Number: |
99669596 |
|
Factory Manager: |
Yongcai
Zhuo |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2010-02-01 |
|
Major Products: |
293 Ordinary engineering devices
|
|
8 |
|
|
Name: |
Hiwin Technologies Corp. Yunke The Second Factory |
|
Address: |
No. 130, Section 3, Yunke Road, Huxi Li, Douliu City, Yunlin County,
Taiwan |
|
Date of Registration: |
2010-08-09 |
|
Factory Registration Number: |
99709582 |
|
Factory Manager: |
Yongcai Zhuo |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-10-17 |
|
Major Products: |
259 Other metal and products |
Major Subsidiaries
|
1 |
|
|
Name |
Hiwin Corp. |
|
Address |
46750 Fremont Blvd., Fremont, CA 94538 USA |
|
Telephone Number |
+1-847-827-2270 |
|
2 |
|
|
Name |
Hiwin GmbH |
|
Address |
Brucklesbund 2, D-77654, Offenburg, Germany |
|
Telephone Number |
+49-781-93278-0 |
Related Company
|
Name |
Hiwin Mikrosystem Corp. |
|
Address |
No.7, Jingke Rd., Nantun District, Taichung
City 408, Taiwan |
|
Telephone Number |
+886-4-2355-0110 |
|
Fax Number |
+886-4-2355-0123 |
Core
Management
Directors
|
1 |
|
|
Name |
Yongcai Zhuo |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jincai Chen |
|
Position |
Vice Board
Chairman |
|
3 |
|
|
Name |
Xunqin Li |
|
Position |
Director |
|
4 |
|
|
Name |
Wenheng Zhuo |
|
Position |
Director |
|
5 |
|
|
Name |
Huiqing Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Zhenghe Jiang |
|
Position |
Independent
Director |
|
7 |
|
|
Name |
Zeyu Chen |
|
Position |
Independent
Director |
|
8 |
|
|
Name |
Yousan Huang |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Liangji Zhang |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 35,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No. 7, Jingke Road, Nantun District, Taichung City 40852, Taiwan |
Production Information
l
Subject is engaged in manufacturing of ballscrew
and bearings, etc.
l
Subject has factories in Yunlin County and Taichung
City, Taiwan for production.
l
Subject obtained the certifications of ISO 9001,
ISO 14001, OHSAS 18001 and ISO 13485, etc.
Purchase Information
l
The registered activities of subject:
|
Business
Code |
Details |
|
CB01010 |
Machinery
and equipment manufacturing |
|
CB01990 |
Other machinery
manufacturing |
|
CC01010 |
Generate
electricity, transmission and distribution of mechanical manufacturing |
|
CD01030 |
Automobile
and parts manufacturing |
|
CD01990 |
Other
means of transport and its parts manufacturing |
|
CD01060 |
Aircraft
and parts manufacturing |
|
CF01011 |
Medical device manufacturing |
|
F108031 |
Medical
equipment wholesale |
|
F208031 |
Medical
equipment retail |
|
F401010 |
The
international trade |
|
ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
l
The components and raw material for production are
mostly purchased in Taiwan
l
Subject is engaged in sale of ballscrew and
bearings.
l
The major products sold by subject include
ballscrews, linear guideway, bearings, robot, linear motor, linear actuator and
so on.
l
Subject’s sales regions include domestic market,
Asia, Mid-East, Europe, Africa, America, Australia, Switzerland etc.
l
Subject’s general delivery lead time of ballscrews
is about 30 to 45 days; the general delivery lead time of bearings is about 30
to 60 days
l
Subject’s major customers are Peninsula Components
Inc. and Microplan Italia Srl. etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Components |
T/T, Cash, etc |
100% |
Subject has little import.
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Ballscrew and
bearings, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Ballscrew and
bearings, etc. |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,041,909.00 |
710,513.00 |
|
Financial assets measured at fair value through
profit or loss - current |
147.00 |
6,235.00 |
|
Notes receivable - net |
145,492.00 |
308,443.00 |
|
Notes receivable - related parties - net |
35,014.00 |
23,893.00 |
|
Accounts receivable - net |
4,077,266.00 |
3,061,549.00 |
|
Accounts receivable - related parties - net |
588,781.00 |
724,346.00 |
|
Inventories |
2,843,509.00 |
2,225,959.00 |
|
Other current assets |
215,038.00 |
231,313.00 |
|
Current assets |
8,947,156.00 |
7,292,251.00 |
|
Funds and
Investments |
|
|
|
Available-for-sale financial assets - non current |
24,902.00 |
47,060.00 |
|
Financial assets carried at cost - non current |
336,634.00 |
354,388.00 |
|
Equity investments under equity method |
1,767,576.00 |
1,302,955.00 |
|
Investments |
1,767,576.00 |
1,302,955.00 |
|
Funds and long-term investments |
2,129,112.00 |
1,704,403.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
1,333,247.00 |
1,228,442.00 |
|
Buildings and structures |
4,665,567.00 |
2,726,685.00 |
|
Machinery and equipment |
7,215,918.00 |
6,181,217.00 |
|
Transportation equipment |
54,862.00 |
53,642.00 |
|
Leased assets |
529,266.00 |
529,266.00 |
|
Other facilities |
589,885.00 |
302,653.00 |
|
Fixed assets cost |
14,388,745.00 |
11,021,905.00 |
|
Accumulated depreciation |
-3,266,493.00 |
-2,416,315.00 |
|
Construction in process and prepayment for
equipments |
1,722,658.00 |
2,694,442.00 |
|
Fixed assets |
12,844,910.00 |
11,300,032.00 |
|
Intangible Assets |
|
|
|
Other Assets |
|
|
|
Rental assets |
166,483.00 |
204,349.00 |
|
Guarantee deposits paid |
4,880.00 |
4,788.00 |
|
Deferred charges |
12,867.00 |
16,906.00 |
|
Other assets - other |
13,546.00 |
25,910.00 |
|
Other assets |
197,776.00 |
251,953.00 |
|
Assets |
24,118,954.00 |
20,548,639.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
4,168,307.00 |
951,000.00 |
|
Financial liabilities measured at fair value
through profit or loss - current |
1,758.00 |
1,390.00 |
|
Notes payable |
18,273.00 |
38,423.00 |
|
Accounts payable |
1,669,802.00 |
2,624,056.00 |
|
Income tax payable |
374,685.00 |
452,900.00 |
|
Accrued expenses |
808,586.00 |
1,221,698.00 |
|
Other payables |
36,521.00 |
4,540.00 |
|
Long-term liabilities - current portion |
937,856.00 |
816,679.00 |
|
Other current liabilities |
535,133.00 |
449,258.00 |
|
Current liabilities |
8,550,921.00 |
6,559,944.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
4,989,073.00 |
4,099,170.00 |
|
Long-term notes and accounts payable |
441,444.00 |
461,617.00 |
|
Long-term liabilities |
5,430,517.00 |
4,560,787.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
138,215.00 |
120,997.00 |
|
Guarantee deposits received |
300.00 |
1,500.00 |
|
Deferred income tax liabilities |
99,998.00 |
66,382.00 |
|
Other liabilities |
238,513.00 |
188,879.00 |
|
Liabilities |
14,219,951.00 |
11,309,610.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,464,280.00 |
2,346,933.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
308,630.00 |
308,630.00 |
|
Capital surplus |
308,630.00 |
308,630.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
953,150.00 |
572,295.00 |
|
Special reserve |
132,863.00 |
132,863.00 |
|
Unappropriated retained earnings |
6,203,528.00 |
5,989,348.00 |
|
Retained earnings |
7,289,541.00 |
6,694,506.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-81,588.00 |
-36,184.00 |
|
Net loss not recognized as pension cost |
-77,324.00 |
-65,997.00 |
|
Unrealized gains (losses) on financial
instruments |
-4,536.00 |
-8,859.00 |
|
Equity adjustments |
-163,448.00 |
-111,040.00 |
|
Stockholdersˉ equity |
9,899,003.00 (USD 325,677,198.70) |
9,239,029.00 (USD 303964054.10) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2014.01, 1
NTD = 0.0329 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
10,926,822.00 (USD 359,492,443.80) |
14,182,159.00 (USD 466,593,031.10) |
|
Sales returns |
1,393.00 |
3,997.00 |
|
Sales discounts and allowances |
21,069.00 |
43,903.00 |
|
Sales |
10,904,360.00 |
14,134,259.00 |
|
Operating income |
10,904,360.00 |
14,134,259.00 |
|
Operating costs |
7,135,613.00 |
8,574,723.00 |
|
Gross profit (loss) from operations |
3,768,747.00 |
5,559,536.00 |
|
Unrealized gains on intercompany transactions |
100,350.00 |
244,623.00 |
|
Selling expense |
276,151.00 |
324,063.00 |
|
General and administrative expenses |
515,381.00 |
612,953.00 |
|
Research and development expenses |
295,710.00 |
267,451.00 |
|
Operating expenses |
1,087,242.00 |
1,204,467.00 |
|
Operating income (loss) |
2,581,155.00 |
4,110,446.00 |
|
Non-Operating Income |
|
|
|
Income from long-term equity investments under
the equity method |
210,025.00 |
364,778.00 |
|
Investment income |
210,025.00 |
364,778.00 |
|
Foreign exchange gains |
0.00 |
97,814.00 |
|
Rent income |
11,889.00 |
13,869.00 |
|
Revaluation gain on financial assets |
10,336.00 |
0.00 |
|
Miscellaneous income |
25,752.00 |
19,823.00 |
|
Non-operating revenues and gains |
258,002.00 |
496,284.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
93,812.00 |
45,693.00 |
|
Foreign exchange losses |
127,231.00 |
0.00 |
|
Impairment loss on assets |
37,384.00 |
100,102.00 |
|
Revaluation loss on financial assets |
0.00 |
17,976.00 |
|
Miscellaneous disbursements |
482.00 |
9,840.00 |
|
Non-operating expenses and losses |
258,909.00 |
173,611.00 |
|
Income from continuing operations before income
tax |
2,580,248.00 |
4,433,119.00 |
|
Income tax expense (benefit) |
577,053.00 |
624,572.00 |
|
Income from continuing operations |
2,003,195.00 |
3,808,547.00 |
|
Net income (loss) |
2,003,195.00 (USD 65,905,115.50) |
3,808,547.00 (USD 125,301,196.30) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
8.13 |
15.46 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
8.10 |
15.36 |
(As of 2014.01, 1
NTD = 0.0329 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net
Income (Loss) |
2,003,195.00 |
3,808,547.00 |
|
Adjustments
to Reconcile Net Income to Net Cash Provided by (Used in) Operating
Activities |
|
|
|
Depreciation
Expense |
888,163.00 |
644,214.00 |
|
Amortization
Expense |
10,120.00 |
24,424.00 |
|
Provision
(Reversal of Provision) for Bad Debts Losses |
83,678.00 |
45,266.00 |
|
Difference
Between Net Pension Cost and Plan Contribution |
5,891.00 |
6,451.00 |
|
Loss (Gain)
on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
16,600.00 |
2,706.00 |
|
Investment
Loss (Income) Recognized under Equity Method |
-210,025.00 |
-364,778.00 |
|
Loss
(Gain) on Disposal of Property, Plan and Equipment |
-731.00 |
3,670.00 |
|
Loss
(Gain) on Disposal of Investments |
-2,297.00 |
-5.00 |
|
Unrealized
Revaluation Loss (Gain) on Financial Assets and Liabilities |
-10,336.00 |
17,976.00 |
|
Impairment
Losses on Financial Asset |
37,384.00 |
100,102.00 |
|
Unrealized
Gain (Loss) on Intercompany Transactions |
100,350.00 |
244,623.00 |
|
Loss
(Gain) on Deferred Income Tax |
-18,502.00 |
24,665.00 |
|
Changes
in Operating Assets and Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
16,792.00 |
-10,338.00 |
|
Decrease
(Increase) in Notes Receivable |
153,475.00 |
-77,402.00 |
|
Decrease
(Increase) in Accounts Receivable |
-965,475.00 |
-2,055,948.00 |
|
Decrease
(Increase) in Inventories |
-592,902.00 |
-622,090.00 |
|
Decrease
(Increase) in Other Current Assets |
61,583.00 |
-48,088.00 |
|
Increase
(Decrease) in Notes Payable |
-20,150.00 |
-1,366,312.00 |
|
Increase
(Decrease) in Accounts Payable |
-954,254.00 |
1,856,587.00 |
|
Increase
(Decrease) in Income Tax Payable |
-78,215.00 |
333,178.00 |
|
Increase
(Decrease) in Accrued Expenses |
-413,112.00 |
591,109.00 |
|
Increase
(Decrease) in Other Current Liabilities |
-14,475.00 |
3,054.00 |
|
Net
Cash Provided by (Used in) Operating Activities |
96,757.00 |
3,161,611.00 |
|
Cash
Flows from Investing Activities |
|
|
|
Proceeds
from Disposal of Available-for-sale Financial Assets |
28,778.00 |
126.00 |
|
Proceeds
from Capital Reduction of Available-for-Sale Financial Assets |
0.00 |
14,488.00 |
|
Acquisition
of Financial Assets Carried at Cost |
-19,630.00 |
-236,266.00 |
|
Acquisition
of Investments Accounted for by Equity Method |
-300,000.00 |
-230,000.00 |
|
Purchase
of Property, Plant and Equipment |
-2,400,413.00 |
-4,160,034.00 |
|
Proceeds
from Disposal of Property, Plant and Equipment |
10,400.00 |
3,224.00 |
|
Decrease
(Increase) in Refundable Deposits |
-92.00 |
-1,826.00 |
|
Increase
in Deferred Charges |
-7,416.00 |
-42,658.00 |
|
Decrease
(Increase) in Restricted Assets |
6,810.00 |
-3,324.00 |
|
Net
Cash Provided by (Used in) Investing Activities |
-2,681,563.00 |
-4,656,270.00 |
|
Cash
Flows from Financing Activities |
|
|
|
Increase
(Decrease) in Short-term Loans |
3,217,307.00 |
361,000.00 |
|
Proceeds
from Long-term Debt |
2,120,500.00 |
2,396,000.00 |
|
Repayment
of Long-term Debt |
-1,110,318.00 |
-645,661.00 |
|
Increase
(Decrease) in Guarantee Deposits Received |
-1,200.00 |
1,200.00 |
|
Increase
(Decrease) in Lease Payable |
-19,274.00 |
-16,587.00 |
|
Cash
Dividends Paid |
-1,290,813.00 |
-683,573.00 |
|
Net
Cash Provided by (Used in) Financing Activities |
2,916,202.00 |
1,412,379.00 |
|
Net
Increase (Decrease) in Cash and Cash Equivalents |
331,396.00 |
-82,280.00 |
|
Cash
and Cash Equivalents, Beginning of year |
710,513.00 |
792,793.00 |
|
Cash
and Cash Equivalents, End of year |
1,041,909.00 |
710,513.00 |
|
Supplemental
Cash Flow Information |
|
|
|
Interest
Paid- Excluding Capitalized Interest |
61,991.00 |
43,623.00 |
|
Income
Tax Paid |
658,581.00 |
266,729.00 |
|
Non-cash
Investing and Financing Activities |
|
|
|
Current
Portion of Long-term Liabilities |
937,856.00 |
816,679.00 |
|
Name |
Bank of Taiwan |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
037821 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
109362 |
|
Date of Registration: |
1991-07-11 |
|
Date of Alteration: |
1991-07-11 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
038135 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
325753 |
|
Date of Registration: |
1991-09-02 |
|
Date of Alteration: |
1991-09-02 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
040417 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
290625 |
|
Date of Registration: |
1992-07-31 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
044468 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
197143 |
|
Date of Registration: |
1994-02-21 |
|
Status: |
Paid off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
048023 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
244367 |
|
Date of Registration: |
1995-05-30 |
|
Status: |
Paid off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
050484 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
467105 |
|
Date of Registration: |
1996-03-18 |
|
Status: |
Paid off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
052386 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
473943 |
|
Date of Registration: |
1996-11-14 |
|
Status: |
Paid off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
055356 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
993325 |
|
Date of Registration: |
1997-09-13 |
|
Status: |
Paid off |
|
9 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
055722 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
994616 |
|
Date of Registration: |
1997-10-22 |
|
Status: |
Paid off |
|
10 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
056279 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
996388 |
|
Date of Registration: |
1997-12-08 |
|
Status: |
Paid off |
|
11 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
060957 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
851551 |
|
Date of Registration: |
1999-02-08 |
|
Status: |
Paid off |
|
12 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
062553 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
534116 |
|
Date of Registration: |
1999-07-14 |
|
Date of Alteration: |
2001-06-12 |
|
Status: |
Paid off |
|
13 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
064814 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
564814 |
|
Date of Registration: |
2000-01-31 |
|
Status: |
Paid off |
|
14 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
066547 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
571711 |
|
Date of Registration: |
2000-06-30 |
|
Status: |
Paid off |
|
15 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
067392 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
574977 |
|
Date of Registration: |
2000-09-01 |
|
Date of Alteration: |
2005-03-16 |
|
Status: |
Paid off |
|
16 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
067604 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
575918 |
|
Date of Registration: |
2000-09-21 |
|
Status: |
Paid off |
|
17 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
067990 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
577304 |
|
Date of Registration: |
2000-10-20 |
|
Status: |
Paid off |
|
18 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
068537 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
579243 |
|
Date of Registration: |
2000-11-29 |
|
Date of Alteration: |
2005-03-16 |
|
Status: |
Paid off |
|
19 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
071059 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09005127860 |
|
Date of Registration: |
2001-08-03 |
|
Date of Alteration: |
2005-03-16 |
|
Status: |
Paid off |
|
20 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
071958 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09005174040 |
|
Date of Registration: |
2001-11-29 |
|
Status: |
Paid off |
|
21 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
075273 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09205079680 |
|
Date of Registration: |
2003-02-25 |
|
Status: |
Paid off |
|
22 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
077738 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09200490670 |
|
Date of Registration: |
2003-11-17 |
|
Status: |
Paid off |
|
23 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
013161 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
242965 |
|
Date of Registration: |
1995-04-17 |
|
Status: |
Paid off |
|
24 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
013206 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
243405 |
|
Date of Registration: |
1995-05-01 |
|
Status: |
Paid off |
|
25 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
023010 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
578630 |
|
Date of Registration: |
2000-11-17 |
|
Status: |
Paid off |
|
26 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
025151 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09105093990 |
|
Date of Registration: |
2002-06-12 |
|
Status: |
Paid off |
|
27 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
025546 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09105124860 |
|
Date of Registration: |
2002-09-05 |
|
Status: |
Paid off |
|
28 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
080065 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09305135150 |
|
Date of Registration: |
2004-06-24 |
|
Status: |
Paid off |
|
29 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
081705 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09305196560 |
|
Date of Registration: |
2004-12-28 |
|
Status: |
Paid off |
|
30 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082117 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09304997770 |
|
Date of Registration: |
2004-12-28 |
|
Status: |
Paid off |
|
31 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082194 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405060510 |
|
Date of Registration: |
2005-01-04 |
|
Status: |
Paid off |
|
32 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082194 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405060510 |
|
Date of Registration: |
2005-01-04 |
|
Status: |
Paid off |
|
33 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082674 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405079470 |
|
Date of Registration: |
2005-02-23 |
|
Status: |
Paid off |
|
34 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082675 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405079460 |
|
Date of Registration: |
2005-02-23 |
|
Status: |
Paid off |
|
35 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
083818 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405120130 |
|
Date of Registration: |
2005-06-10 |
|
Status: |
Paid off |
|
36 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
083907 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405122510 |
|
Date of Registration: |
2005-06-17 |
|
Status: |
Paid off |
|
37 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
084588 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09405191510 |
|
Date of Registration: |
2005-12-23 |
|
Status: |
Paid off |
|
38 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087698 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09505129170 |
|
Date of Registration: |
2006-06-27 |
|
39 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087989 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09505138940 |
|
Date of Registration: |
2006-07-19 |
|
Status: |
Paid off |
|
40 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
089522 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09505196160 |
|
Date of Registration: |
2006-12-19 |
|
41 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
090195 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09605078440 |
|
Date of Registration: |
2007-02-16 |
|
42 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
091464 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09605133010 |
|
Date of Registration: |
2007-07-18 |
|
43 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
092526 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09605175510 |
|
Date of Registration: |
2007-11-07 |
|
44 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
093514 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09705074100 |
|
Date of Registration: |
2008-02-22 |
|
45 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
094380 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09705105880 |
|
Date of Registration: |
2008-05-15 |
|
46 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
096316 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09730427310 |
|
Date of Registration: |
2008-12-03 |
|
47 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
099586 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
09930274800 |
|
Date of Registration: |
2010-03-18 |
|
Status: |
Paid off |
|
48 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
103697 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10030337160 |
|
Date of Registration: |
2011-05-13 |
|
49 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
103818 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10030340910 |
|
Date of Registration: |
2011-05-25 |
|
50 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
105012 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10030380710 |
|
Date of Registration: |
2011-11-17 |
|
51 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
105719 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10130317650 |
|
Date of Registration: |
2012-04-16 |
|
52 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
106982 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10130363230 |
|
Date of Registration: |
2012-12-11 |
|
53 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
108387 |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10231349080 |
|
Date of Registration: |
2013-08-29 |
|
54 |
|
|
Case Type: |
Chattel Mortgage |
|
Debtor Name: |
Hiwin Technologies Corp. |
|
Document Number: |
10231363230 |
|
Date of Receipt: |
2013-11-05 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation
of the subject has been found.
|
Name |
Ms. Hong |
|
Department |
Overseas Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.86 |
|
|
1 |
Rs. 98.82 |
|
Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.