|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHINA STEEL CORPORATION |
|
|
|
|
Registered Office : |
No.1, Chung Kang Road, Lin Hai Ind. Dist., Hsiao Kang, Kaohsiung 81233 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.12.1971 |
|
|
|
|
Com. Reg. No.: |
30414175 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of steel products |
|
|
|
|
No. of Employees : |
About 9,000 Employees |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually
decreasing government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. In
2012, however, growth fell to 1.3%, because of softening global demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, but except for the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has
been excluded from this greater economic integration in part because of its
diplomatic status. Negotiations continue on such follow-on components of ECFA
regarding trade in goods and services. The MA administration has said that the
ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
Taiwan's Total Fertility rate of just over one child per woman is among the
lowest in the world, raising the prospect of future labor shortages, falling
domestic demand, and declining tax revenues. Taiwan's population is aging
quickly, with the number of people over 65 accounting for 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Three financial memorandums of understanding, covering banking,
securities, and insurance, took effect in mid-January 2010, opening the island
to greater investments from the mainland's financial firms and institutional
investors, and providing new opportunities for Taiwan financial firms to
operate in China. In August 2012, Taiwan Central Bank signed a memorandum of understanding
on cross-Strait currency settlement with its Chinese counterpart. The MOU
allows for the direct settlement of Chinese RMB and the New Taiwan dollar
across the Strait, which could help develop Taiwan into a local RMB hub. Closer
economic links with the mainland bring greater opportunities for the Taiwan
economy, but also poses new challenges as the island becomes more economically
dependent on China while political differences remain unresolved.
Source
: CIA
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist.,
Hsiao Kang, Kaohsiung 81233, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-802-1111 |
|
Fax Number: |
Notes: The exact address is as above.
|
Credit Opinion: |
Subject was incorporated on 1971-12-3 with registered
number 30414175 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1974-12-26.
|
Name |
Subscription Shares |
|
Ministry of Economic
Affairs |
3,062,230,011 |
|
Ever Wealthy International Corporation |
2,161,003 |
|
Gao Rui Investment Co., Ltd. (Literal
Translation) |
1,296,175 |
|
Qun Yu Investment Co., Ltd. (Literal Translation) |
1,502,902 |
|
Hong Gao Investment and Development Co., Ltd.
(Literal Translation) |
974,550 |
|
Kaohsiung China Steel
Enterprise Union |
6,298,757 |
|
Zuen Zhang |
18,039 |
|
Dingpeng Liang |
397 |
|
Bureau of Labor Insurance |
239,218,423 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Name |
Ever Wealthy
International Corporation |
|
Registered
Address: |
4F.-1, No.47,
Chung Hua 4th Rd., Kaohsiung, Taiwan, R.O.C. |
|
Date of
Foundation: |
1999-8-30 |
|
Registration Number: |
70748331 |
|
Registry: |
Department of
Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 1,000,000,000 (USD 34,000,000) (As of 2013.06,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 884,355,030
(USD 30,068,071) |
|
Legal
Representatives: |
Maogen Wang |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2012-5-9 |
|
2 |
|
|
Name |
Gao Rui
Investment Co., Ltd. (Literal Translation) |
|
Registered
Address: |
30th
Floor, No.6, Minquan 2nd Road, Qianzhen District, Kaohsiung,
Taiwan, R.O.C. |
|
Date of Foundation: |
1997-5-21 |
|
Registration
Number: |
97159878 |
|
Registry: |
Economic
Development Board of Kaohsiung City Government |
|
Registered
Capital: |
NTD 29,900,000 (USD 1,016,600) (As of 2013.06,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 29,900,000
(USD 1,016,600) |
|
Legal
Representatives: |
Zhuxian Hong |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2011-6-30 |
|
3 |
|
|
Name |
Qun Yu
Investment Co., Ltd. (Literal Translation) |
|
Registered
Address: |
5th
Floor-1, No.47, Zhong Hua 4th Road, Lingya District, Kaohsiung, Taiwan,
R.O.C. |
|
Date of
Foundation: |
1997-5-21 |
|
Registration
Number: |
97159878 |
|
Registry: |
Economic
Development Board of Kaohsiung City Government |
|
Registered
Capital: |
NTD 29,900,000
(USD 1,016,600) (As of 2013.06,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 29,900,000
(USD 1,016,600) |
|
Legal
Representatives: |
Mingzhu Zhu |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2012-7-5 |
|
4 |
|
|
Name |
Hong Gao
Investment and Development Co., Ltd. (Literal Translation) |
|
Registered
Address: |
17th
Floor-3, No.247, Minsheng 1st Road, Xinxing District, Kaohsiung,
Taiwan, R.O.C. |
|
Date of
Foundation: |
2006-9-26 |
|
Registration
Number: |
28292730 |
|
Registry: |
Economic
Development Board of Kaohsiung City Government |
|
Registered
Capital: |
NTD 30,000,000 (USD 1,020,000) (As of 2013.06,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 26,000,000 (USD 884,000) |
|
Legal
Representatives: |
Chaocheng Wang |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2013-4-12 |
Offices
|
1 |
|
|
Name |
Taipei Office |
|
Address |
Room A, 28/F.,
101 Building, No.7, Section 5, Xinyi Road, Taipei City, Taiwan |
|
Tel |
+886-2-8758-0000 |
|
Fax |
+886-2-8758-0007 |
|
2 |
|
|
Name |
Singapore Office |
|
Address |
#14-01 MAS
Building, 10 Shenton Way, Singapore 0207 |
|
Tel |
+65-6223-8777 |
|
Fax |
+65-6225-6054 |
|
3 |
|
|
Name |
Osaka Office |
|
Address |
|
|
Tel |
+81-6-6281-1021 |
|
Fax |
+81-6-6281-1023 |
|
4 |
|
|
Name |
India Office |
|
Address |
S-3 Level,
Block-E, International Trade Tower, Nehru Place, New Delhi 110019, India |
|
Tel |
+91-11-4057-3739 |
|
Fax |
+91-11-4057-3741 |
Core
Management
Directors
|
1 |
|
|
Name |
Ruoqi Zou |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Mingzhong Liu |
|
Position |
Director |
|
3 |
|
|
Name |
Jiarui Ou |
|
Position |
Director |
|
4 |
|
|
Name |
Zhiyu Song |
|
Position |
Director |
|
Date of
Appointment |
2012-2-1 |
|
5 |
|
|
Name |
Qingchao Li |
|
Position |
Director |
|
Date of
Appointment |
2012-3-1 |
|
6 |
|
|
Name |
Jigang Liu |
|
Position |
Director |
|
7 |
|
|
Name |
Zhengyi Weng |
|
Position |
Director |
|
8 |
|
|
Name |
Zhaojin Wei |
|
Position |
Director |
|
9 |
|
|
Name |
Shenyi Li |
|
Position |
Independent
Director |
|
10 |
|
|
Name |
Zuen Zhang |
|
Position |
Independent
Director |
|
11 |
|
|
Name |
Dingpeng Liang |
|
Position |
Independent
Director |
|
12 |
|
|
Name |
Fengming Hao |
|
Position |
Supervisor |
|
13 |
|
|
Name |
Yilin Cheng |
|
Position |
Supervisor |
|
14 |
|
|
Name |
Sitang Deng |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 9,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.1, Chung Kang Road, Lin Hai Ind. Dist., Hsiao Kang, Kaohsiung 81233,
Taiwan, R.O.C. |
Production
Information
l
Subject is a manufacturer of carbon steel and
stainless steel and its annual production capacity is about 7 million MT
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA01010 |
Iron and steel smelting |
|
CA01030 |
Steel casting industry |
|
CA01020 |
Steel rolling and extruded industry |
|
CA01050 |
Steel secondary processing industry |
|
CA02080 |
Metal forging |
|
CA03010 |
Heat treatment industry |
|
CA04010 |
Surface treatment industry |
|
E103101 |
Environmental protection Environmental protection |
|
E602011 |
Air conditioner engineering |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for production are mainly
purchased in domestic market.
l
The subject is mainly engaged in sales carbon steel
and stainless steel products and its major items include steel plate, steel
rod, steel wire, hot rolled steel products, cold rolling steel products,
electricity galvanized steel products and electricity of magnets, etc.
l
Subject’s products are both sold in domestic and
overseas market and it mainly exports to Asia-pacific region and surrounding
countries and it has office in Singapore and Japan.
l
70% of subject’s products are sold in domestic
market and 30% are exported.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials, etc |
CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Steel products, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Steel products, etc |
CBD, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,733,583.00 |
683,607.00 |
|
Available-for-sale financial assets - current |
1,645,451.00 |
2,207,870.00 |
|
Hedging derivative assets - current |
33,120.00 |
22,630.00 |
|
Notes receivable - net |
476,696.00 |
866,772.00 |
|
Notes receivable - related parties - net |
519,453.00 |
468,399.00 |
|
Accounts receivable - net |
2,712,325.00 |
2,764,299.00 |
|
Accounts receivable - related parties - net |
830,895.00 |
553,216.00 |
|
Other receivables |
879,092.00 |
1,162,430.00 |
|
Other financial assets - current |
2,721,077.00 |
2,399,287.00 |
|
Inventories |
47,510,017.00 |
67,340,540.00 |
|
Other current assets |
8,512,787.00 |
8,770,627.00 |
|
Current assets |
67,574,496.00 |
87,239,677.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
3,259,169.00 |
3,260,406.00 |
|
Hedging derivative assets - non current |
4,042.00 |
89,387.00 |
|
Financial assets carried at cost - non current |
8,068,823.00 |
7,421,220.00 |
|
Debt investments without active market - non
current |
3,364,000.00 |
3,906,000.00 |
|
Equity investments under equity method |
148,970,411.00 |
127,252,843.00 |
|
Investments |
148,970,411.00 |
127,252,843.00 |
|
Other financial assets - non current |
33,943.00 |
2,119,688.00 |
|
Funds and long-term investments |
163,700,388.00 |
144,049,544.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
9,364,677.00 |
11,024,276.00 |
|
Land improvements |
4,222,124.00 |
4,223,646.00 |
|
Buildings and structures |
53,040,845.00 |
44,939,092.00 |
|
Machinery and equipment |
310,518,644.00 |
278,296,503.00 |
|
Transportation equipment |
1,880,782.00 |
1,804,682.00 |
|
Other facilities |
12,599,522.00 |
12,036,405.00 |
|
Revaluation increment |
48,664,692.00 |
48,885,858.00 |
|
Cost and revaluation increment |
440,291,286.00 |
401,210,462.00 |
|
Accumulated depreciation |
-274,041,941.00 |
-260,114,511.00 |
|
Construction in process and prepayment for
equipments |
23,256,873.00 |
46,045,195.00 |
|
Fixed assets |
189,506,218.00 |
187,141,146.00 |
|
Intangible Assets |
|
|
|
Intangible assets |
141,888.00 |
184,081.00 |
|
OtherAssets |
|
|
|
Rental assets |
4,743,179.00 |
3,063,360.00 |
|
Guarantee deposits paid |
144,807.00 |
223,215.00 |
|
Deferred income tax assets - non current |
1,420,555.00 |
0.00 |
|
Other assets - other |
34,242.00 |
33,817.00 |
|
Other assets |
6,342,783.00 |
3,320,392.00 |
|
Assets |
427,265,773.00 |
421,934,840.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
8,868,560.00 |
6,467,626.00 |
|
Short-term notes and bills payable |
13,294,434.00 |
3,595,877.00 |
|
Hedging derivative liabilities - current |
11,752.00 |
7,620.00 |
|
Accounts payable |
3,516,165.00 |
4,665,602.00 |
|
Accounts payable - related parties |
496,968.00 |
851,314.00 |
|
Income tax payable |
1,368,313.00 |
2,520,677.00 |
|
Accrued expenses |
6,505,403.00 |
8,306,109.00 |
|
Other payables |
8,552,322.00 |
4,976,046.00 |
|
Long-term liabilities - current portion |
19,238,429.00 |
14,977,313.00 |
|
Other current liabilities |
2,596,340.00 |
3,086,241.00 |
|
Current liabilities |
64,448,686.00 |
49,454,425.00 |
|
Long term Liabilities |
|
|
|
Hedging derivative liabilities - non current |
451.00 |
421.00 |
|
Bonds payable |
46,657,982.00 |
37,969,340.00 |
|
Long-term borrowings |
25,674,572.00 |
33,273,773.00 |
|
Long-term liabilities |
72,333,005.00 |
71,243,534.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
10,011,916.00 |
10,011,916.00 |
|
Reserves |
10,011,916.00 |
10,011,916.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
69,313.00 |
51,491.00 |
|
Deferred income tax liabilities |
0.00 |
446,254.00 |
|
Other liabilities - other |
2,050,786.00 |
2,140,211.00 |
|
Other liabilities |
2,120,099.00 |
2,637,956.00 |
|
Liabilities |
148,913,706.00 |
133,347,831.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
152,724,765.00 |
150,462,093.00 |
|
Preferred stock |
382,680.00 |
382,680.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
31,154,766.00 |
31,154,766.00 |
|
Capital surplus - treasury stock transactions |
4,947,307.00 |
4,635,553.00 |
|
Capital surplus - long-term equity investments |
563,356.00 |
449,287.00 |
|
Capital surplus - other |
8,099.00 |
8,099.00 |
|
Capital surplus |
36,673,528.00 |
36,247,705.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
54,778,577.00 |
52,829,209.00 |
|
Special reserve |
7,615,701.00 |
7,615,701.00 |
|
Unappropriated retained earnings |
5,961,915.00 |
19,606,971.00 |
|
Retained earnings |
68,356,193.00 |
80,051,881.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-393,229.00 |
17,192.00 |
|
Net loss not recognized as pension cost |
-184,893.00 |
-230,590.00 |
|
Unrealized gains (losses) on financial
instruments |
2,458,247.00 |
3,020,919.00 |
|
Unrealized Revaluation Increment |
26,750,124.00 |
26,757,590.00 |
|
Treasure stock |
-8,415,348.00 |
-8,122,461.00 |
|
Equity adjustments |
20,214,901.00 |
21,442,650.00 |
|
Stockholdersˉ equity |
278,352,067.00 (USD 9,463,970,278.00) |
288,587,009.00 (USD 9,811,958,306.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
309,816,000.00 |
295,065,000.00 |
|
|
0.00 |
0.00 |
(As of
2012.06, 1 NTD = 0.0340 USD)
|
|
2012 |
2011 |
|
Sales |
201,072,107.00 (USD 6,836,451,638.00) |
234,417,553.00 (USD 7,970,196,802.00) |
|
Other operating revenue |
6,120,998.00 |
5,958,466.00 |
|
Operating income |
207,193,105.00 |
240,376,019.00 |
|
Cost of sales |
194,223,145.00 |
215,021,873.00 |
|
Other operating costs |
4,006,120.00 |
3,760,102.00 |
|
Operating costs |
198,229,265.00 |
218,781,975.00 |
|
Gross profit (loss) from operations |
8,963,840.00 |
21,594,044.00 |
|
Realized gains on intercompany transactions |
-36,337.00 |
61,894.00 |
|
Selling expense |
2,412,224.00 |
2,414,478.00 |
|
General and administrative expenses |
2,447,494.00 |
3,204,580.00 |
|
Research and development expenses |
1,378,211.00 |
1,437,899.00 |
|
Operating expenses |
6,237,929.00 |
7,056,957.00 |
|
Operating income (loss) |
2,689,574.00 |
14,598,981.00 |
|
Non-Operating Income |
|
|
|
Interest income |
109,872.00 |
121,480.00 |
|
Income from long-term equity investments under
the equity method |
2,353,103.00 |
5,151,451.00 |
|
Investment income |
2,353,103.00 |
5,151,451.00 |
|
Gains on sale of investments |
1,140,690.00 |
1,101.00 |
|
Foreign exchange gains |
329,097.00 |
403,480.00 |
|
Revaluation gain on financial assets |
0.00 |
2,828.00 |
|
Miscellaneous income |
1,341,516.00 |
1,194,643.00 |
|
Non-operating revenues and gains |
5,274,278.00 |
6,874,983.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
1,358,092.00 |
769,406.00 |
|
Miscellaneous disbursements |
475,189.00 |
419,865.00 |
|
Non-operating expenses and losses |
1,833,281.00 |
1,189,271.00 |
|
Income from continuing operations before income
tax |
6,130,571.00 |
20,284,693.00 |
|
Income tax expense (benefit) |
319,081.00 |
791,014.00 |
|
Income from continuing operations |
5,811,490.00 |
19,493,679.00 |
|
Net income (loss) |
5,811,490.00 (USD 197,590,660.00) |
19,493,679.00 (USD 662,785,086.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.38 |
1.34 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.38 |
1.33 |
(As of
2013.06, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
5,811,490.00 |
19,493,679.00 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
17,708,945.00 |
16,064,667.00 |
|
Amortization Expense |
42,193.00 |
42,364.00 |
|
Share-based Compensation |
0.00 |
98,826.00 |
|
Difference Between Net Pension Cost and Plan
Contribution |
17,822.00 |
51,491.00 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
1,880,058.00 |
3,060,921.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
-2,353,103.00 |
-5,151,451.00 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
5,120,219.00 |
5,582,492.00 |
|
Loss (Gain) on Disposal of Investments |
-1,140,690.00 |
-1,101.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
0.00 |
-2,828.00 |
|
Realized Loss (Gain) on Intercompany Transactions |
36,337.00 |
-61,894.00 |
|
Loss (Gain) on Deferred Income Tax |
-1,287,186.00 |
-913,703.00 |
|
Other Adjustments to Reconcile Net Income |
134,541.00 |
-104,227.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
390,076.00 |
-160,697.00 |
|
Decrease (Increase) in Notes Receivable - Related
Parties |
-51,054.00 |
68,809.00 |
|
Decrease (Increase) in Accounts Receivable |
51,974.00 |
-866,891.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
-277,679.00 |
36,315.00 |
|
Decrease (Increase) in Other Receivables |
215,058.00 |
124,373.00 |
|
Decrease (Increase) in Inventories |
18,288,165.00 |
-23,289,268.00 |
|
Decrease (Increase) in Other Current Assets |
-273,460.00 |
-215,013.00 |
|
Increase (Decrease) in Notes Payable - Related
Parties |
0.00 |
-23,163.00 |
|
Increase (Decrease) in Accounts Payable |
-1,149,437.00 |
34,802.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
-354,346.00 |
-458,350.00 |
|
Increase (Decrease) in Income Tax Payable |
-1,084,084.00 |
-2,478,813.00 |
|
Increase (Decrease) in Accrued Expenses |
-1,800,706.00 |
-2,426,521.00 |
|
Increase (Decrease) in Other Payables |
1,433,349.00 |
2,223,410.00 |
|
Increase (Decrease) in Other Current Liabilities |
-580,381.00 |
-576,170.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
40,778,101.00 |
10,152,059.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value
through Profit or Loss |
0.00 |
-8,000,000.00 |
|
Proceeds from Disposal of Financial Assets as
Fair Value through Profit or Loss |
0.00 |
8,002,828.00 |
|
Proceeds from Disposal of Available-for-sale
Financial Assets |
1,292,350.00 |
0.00 |
|
Acquisition of Financial Assets Carried at Cost |
-811,558.00 |
-4,085,903.00 |
|
Proceeds from Disposal of Financial Assets
Carried at Cost |
52,500.00 |
1,101.00 |
|
Capital Reduction of Financial Assets Carried at
Cost |
10,176.00 |
14,911.00 |
|
Acquisition of Investments Accounted for by
Equity Method |
-25,012,997.00 |
-3,324,396.00 |
|
Purchase of Property, Plant and Equipment |
-20,094,040.00 |
-17,189,295.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
0.00 |
1,267.00 |
|
Proceeds from Disposal of Rental Assets and Idle
Assets |
0.00 |
5,000.00 |
|
Decrease (Increase) in Refundable Deposits |
78,408.00 |
-106,697.00 |
|
Decrease (Increase) in Restricted Assets |
8,689.00 |
-1,031,100.00 |
|
Decrease (Increase) in Other Financial Assets |
1,509,563.00 |
-2,476,273.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-42,966,909.00 |
-28,188,557.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
2,485,755.00 |
5,125,862.00 |
|
Increase (Decrease) in Short-term Notes and Bills
Payable |
9,698,557.00 |
-103,762.00 |
|
Proceeds from Issuance of Bonds |
20,000,000.00 |
19,700,000.00 |
|
Repayments of Bonds |
-11,300,000.00 |
-13,700,000.00 |
|
Proceeds from Long-term Debt |
1,757,611.00 |
1,279,567.00 |
|
Repayment of Long-term Debt |
-2,666,667.00 |
0.00 |
|
Increase (Decrease) in Long-term Liabilities |
-1,500,000.00 |
7,500,000.00 |
|
Cash Dividends Paid |
-15,236,472.00 |
-26,990,933.00 |
|
Proceeds from Issuance of Shares |
0.00 |
23,738,755.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
3,238,784.00 |
16,549,489.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
1,049,976.00 |
-1,487,009.00 |
|
Cash and Cash Equivalents, Beginning of year |
683,607.00 |
2,170,616.00 |
|
Cash and Cash Equivalents, End of year |
1,733,583.00 |
683,607.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
1,546,515.00 |
1,439,066.00 |
|
Capitalized Interest |
-283,655.00 |
-644,909.00 |
|
Interest Paid- Excluding Capitalized Interest |
1,262,860.00 |
794,157.00 |
|
Income Tax Paid |
2,690,351.00 |
4,183,530.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Interest-bearing
Liabilities |
19,238,429.00 |
14,977,313.00 |
|
Investing Activities Affecting Both Cash and
Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
|
|
|
Increase in Property, Plant and Equipment |
21,866,042.00 |
16,081,479.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
-1,772,002.00 |
1,107,816.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
20,094,040.00 |
17,189,295.00 |
|
Other Supplemental Information |
|
|
|
Total cash dividends payable to stockholders |
15,244,506.00 |
26,996,676.00 |
|
Increase in dividends payable |
-8,034.00 |
-5,743.00 |
|
Cash dividends paid to stockholders |
15,236,472.00 |
26,990,933.00 |
Subject declined to disclose
its bank details; from other source we cannot obtain the relevant information,
either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
1 |
|
|
Trial Number |
2012,Xiongbu,552 |
|
Trial Date |
2012-4-23 |
|
Reason |
Payment for salary |
|
Trial Number |
2008,Xiongbu,2431 |
|
Trial Date |
2008-12-3 |
|
Reason |
|
|
Name |
Mr. Guo |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.42 |
|
|
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
DPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.