|
Report Date : |
22.05.2014 |
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 : |
Engaged in manufacturing
and sales of Steel Products
such as Plate Products, Steel Bar and Wire Rod Products, Hot-Rolled
Products, Cold-Rolled Products & Coated Products |
|
|
|
|
No of Employees : |
About 9,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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. Taiwan's diplomatic isolation, low birth rate,
and rapidly aging population are other major long-term challenges. Free trade
agreements have proliferated in East Asia over the past several years, and
following the landmark Economic Cooperation Framework Agreement (ECFA) signed
with China in June 2010, Taiwan in July 2013 signed a free trade deal with New
Zealand—Taipei’s first-ever with a country with which it does not maintain
diplomatic relations—and in November inked a trade pact with Singapore.
Negotiations continue on follow-on components of ECFA regarding trade in goods
and a dispute resolution mechanism; a trade in services agreement is under
review in the legislature. 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
overall trade surplus largely because of its surplus with China, and its
foreign reserves are the world's sixth largest, behind China, Japan, Saudi
Arabia, Russia, and Switzerland. 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. Taiwan since 2009 has gradually
loosened rules governing Chinese investment on the island, and has also secured
greater market access for its investors in the mainland. 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 name and
address are as above.
|
Credit Opinion: |
Business connections are permissible. |
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 |
3,092,852,311 |
|
Ever Wealthy International Corporation |
2,182,613 |
|
Gao Rui Investment Co., Ltd. (Literal
Translation) |
1,309,136 |
|
Qun Yu Investment Co., Ltd. (Literal
Translation) |
1,517,931 |
|
Hong Gao Investment and Development Co.,
Ltd. (Literal Translation) |
984,295 |
|
Kaohsiung China Steel Enterprise Union |
6,719,057 |
|
Zuen Zhang |
18,219 |
|
Dingpeng Liang |
401 |
|
Hsin Kuang Steel Co., Ltd. |
68,925,082 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Name |
Ever Wealthy International Corporation |
|
Registered Address: |
25F., No.88, Chenggong 2nd Rd., Qianzhen Dist., Kaohsiung
City 806, 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 33,100,000) (As of 2014.5 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 972,790,530 (USD 32,199,400) |
|
Legal Representatives: |
Jianming Li |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-4-15 |
|
2 |
|
|
Name |
Gao Rui Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
26F., No.88, Chenggong 2nd Rd., Qianzhen Dist., Kaohsiung City, 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 989,690) (As of 2014.5 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 29,900,000 (USD 989,690) |
|
Legal Representatives: |
Yingjuan Li |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-1-21 |
|
3 |
|
|
Name |
Qun Yu Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
26th Floor, No.88, Chenggong 2nd Rd., Qianzhen
Dist., Kaohsiung City 806, Taiwan (R.O.C.) |
|
Date of Foundation: |
1997-5-21 |
|
Registration Number: |
97159912 |
|
Registry: |
Economic Development Board of Kaohsiung City Government |
|
Registered Capital: |
NTD 29,900,000
(USD 989,690) (As of 2014.5 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 29,900,000 (USD 989,690) |
|
Legal Representatives: |
Mingzhu Zhu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-10-14 |
|
4 |
|
|
Name |
Hong Gao Investment and Development Co., Ltd. (Literal
Translation) |
|
Registered Address: |
9th Floor, No.88, Chenggong 2nd Rd., Qianzhen Dist.,
Kaohsiung City 806, 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 993,000) (As of 2014.5 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 26,000,000 (USD 860,600) |
|
Legal Representatives: |
Chaocheng Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-12-20 |
|
5 |
|
|
Name |
Hsin Kuang Steel Co., Ltd. |
|
Registered Address: |
17F, No. 97, Sec. 4, Chung Shin Rd., Sanchong Dist., New Taipei City
241, Taiwan (R.O.C.) |
|
Date of Foundation: |
1976-12-2 |
|
Registration Number: |
35836625 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
3,600,000,000 (USD 119,160,000) (As of 2014.5 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 2,769,272,720 (USD 91,662,927) |
|
Legal Representatives: |
Mingde Su |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-4-10 |
Factories
|
1 |
|
|
Address: |
No.1, Zhonggang
Rd., Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) No.17, Donglin Rd.,
Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) No.38, Daye S.
Rd., Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) No.56, Yanhai 3rd Rd., Xiaogang Dist., Kaohsiung City,
Taiwan (R.O.C.) |
|
Date of Foundation: |
1972-12-12 |
|
Date of Registration: |
1978-7-17 |
|
Factory Registration Number: |
64000249 |
|
Factory Manager: |
Ruoqi Zou |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-4-1 |
|
Major Products: |
092 non-alcohol
beverage 181 basic
chemical material 170 petroleum and
coal products 232 refractory,
clay construction materials and ceramic products 241 steel 254 metal
processing 239 other
non-metallic mineral products 293 general
machinery equipment 253 metal
container 252 metal
structure and building components 249 other base
metals 243 copper 339 other
Products 319 unclassified
other means of transport and its parts 301 automobile 302 car body 303 automobile
parts 281 power
generation, transmission and distribution of machines 283 cables and
wiring accessories 289 other
electric power equipment 251 metal hand
tools and moulds 292 other
specialized machinery and equipment 291 metal
processing machinery equipment 242 aluminium 210 rubber
products 199 other
chemical products 140 products for wood and bamboo |
|
2 |
|
|
Address: |
No. 4, No.5, No.
6, Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) No.5, Guangyang St., Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of Registration: |
2001-7-25 |
|
Factory Registration Number: |
64005725 |
|
Factory Manager: |
Chunxiang Huang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-5-8 |
|
Major Products: |
249 other base metals |
|
3 |
|
|
Address: |
No.2, Jiaxing St., Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of Registration: |
2011-7-12 |
|
Factory Registration Number: |
64006324 |
|
Factory Manager: |
Shikai Zeng |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-5-13 |
|
Major Products: |
241 steel 254 metal processing |
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 |
8F, Nantai Building, 2-20, Minamihonmachi 4-Chome,Chuoku, Osaka 541,
Japan |
|
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 |
Major
related Companies
|
1 |
|
||
|
Registered Number |
70748331 |
|
|
|
Name |
Ever Wealthy International Corporation |
|
|
|
Registered Capital: |
NTD 1,000,000,000 |
|
|
|
Paid-up Capital: |
NTD 972,790,530 |
|
|
|
Legal Representatives: |
Maogen Wang |
|
|
|
Registered Address |
4F.-1, No.47, Chung Hua 4th Rd., Kaohsiung, Taiwan,
R.O.C. |
|
|
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
|
|
Date of Foundation: |
1999-8-20 |
|
|
|
Date of Last Annual Return: |
2013-7-10 |
|
|
|
Telephone Number |
+886-7-338-3515 |
|
|
|
Fax Number |
+886-7-535-4706 |
|
|
|
2 |
|
||
|
Registered Number |
97159878 |
|
|
|
Name |
Gaoduan Investment Co Ltd (Liberal Translation) |
|
|
|
Registered Capital: |
NTD 29,900,000 |
|
|
|
Paid-up Capital: |
NTD 29,900,000 |
|
|
|
Legal Representatives: |
Zhuxiang Hong |
|
|
|
Registered Address |
30F., No.6, Qianzhen Dist., Kaohsiung City,
Taiwan (R.O.C.) |
|
|
|
Registry: |
Economic Development Bureau Kaohsiung City
Government |
|
|
|
Date of Foundation: |
1997-5-21 |
|
|
|
Date of Last Annual Return: |
2011-6-30 |
|
|
|
3 |
|
||
|
Registered Number |
97159912 |
|
|
|
Name |
Qunyu Investment Co Ltd (Liberal
Translation) |
|
|
|
Registered Capital: |
NTD 29,900,000 |
|
|
|
Paid-up Capital: |
NTD 29,900,000 |
|
|
|
Legal Representatives: |
Mingzhu Zhu |
|
|
|
Registered Address |
5F.-1, No.47, Zhonghua 4th Rd., Lingya Dist., Kaohsiung City, Taiwan
(R.O.C.) |
|
|
|
Registry: |
Economic Development Bureau Kaohsiung City
Government |
|
|
|
Date of Foundation: |
1987-5-21 |
|
|
|
Date of Last Annual Return: |
2012-7-5 |
|
|
|
4 |
|
||
|
Registered Number |
28292730 |
|
|
|
Name |
Honggao Investment and Development Co Ltd (Liberal Translation) |
|
|
|
Registered Capital: |
NTD 30,000,000 |
|
|
|
Paid-up Capital: |
NTD 26,000,000 |
|
|
|
Legal Representatives: |
Chaocheng Wang |
|
|
|
Registered Address |
17F.-3, No.247, Minsheng 1st Rd., Xinxing Dist., Kaohsiung City, Taiwan
(R.O.C.) |
|
|
|
Registry: |
Economic Development Bureau Kaohsiung City
Government |
|
|
|
Date of Foundation: |
2006-9-26 |
|
|
|
Date of Last Annual Return: |
2013-4-12 |
|
|
|
5 |
|
||
|
Registered Number |
35836625 |
|
|
|
Name |
Hsin Kuang Steel Co., Ltd. |
|
|
|
Registered Capital: |
NTD 3,600,000,000 |
|
|
|
Paid-up Capital: |
NTD 2,768,022,720 |
|
|
|
Legal Representatives: |
Mingde Li |
|
|
|
Registered Address |
17F., No.97, Sec. 4, Chongxin Rd., Sanchong Dist., New Taipei City,
Taiwan (R.O.C.) |
|
|
|
Registry: |
Department of
Commerce, Ministry of Economic Affairs, R.O.C. |
|
|
|
Date of Foundation: |
1976-12-2 |
|
|
|
Date of Last Annual Return: |
2013-4-2 |
|
|
|
Telephone Number |
+886-2-2977-9595 |
|
|
|
Fax Number |
+886-2-2978-3168 |
|
|
|
6 |
|
||
|
Name |
Zhonggang Lvye Co Ltd (Liberal Translation) |
|
|
|
Address |
No.17, Donglin
Rd., Xiaogang Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
|
|
Telephone Number |
+886-7-871-8866 |
|
|
|
Fax Number |
+886-7-872-1852 |
|
|
|
7 |
|||
|
Name |
Zhonggang Yuntong Co Ltd (Liberal Translation) |
||
|
Address |
32F., No.8, Minquan
2nd Rd., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
||
|
Telephone Number |
+886-7-337-8888 |
||
|
Fax Number |
+886-7-338-3516 |
||
|
8 |
|||
|
Name |
Zhonggang Carbon Chemistry Co Ltd (Liberal Translation) |
||
|
Address |
5F.-1, No.47,
Zhonghua 4th Rd., Lingya Dist., Kaohsiung City, Taiwan (R.O.C.) |
||
|
Telephone Number |
+886-7-338-3515 |
||
|
Fax Number |
+886-7-338-3516 |
||
|
9 |
|||
|
Name |
Zhongmao International Co Ltd (Liberal Translation) |
||
|
Address |
31F., No.8, Minquan
2nd Rd., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
||
|
Telephone Number |
+886-7-332-2186 |
||
|
Fax Number |
+886-7-335-6411-2 |
||
|
10 |
|||
|
Name |
Zhonglian Resources Co Ltd (Liberal Translation) |
||
|
Address |
10F., No.243, Yixin
1st Rd., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
||
|
Telephone Number |
+886-7-336-8377 |
||
|
Fax Number |
+886-7-336-8433 |
||
|
11 |
|||
|
Name |
Zhongyu Environmental Engineering Co Ltd (Liberal Translation) |
||
|
Address |
8F., No.8, Minquan
2nd Rd., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
||
|
Telephone Number |
+886-7-330-6138 |
||
|
Fax Number |
+886-7-339-4016 |
||
Note: It is
introduced that subject has over 50 members covering all over the world, and we
listed 11 members as subject’s related companies for reference.
Core Management
|
1 |
|
|
Name |
Ruoqi Zou |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Mingzhong Liu |
|
Position |
Director |
|
3 |
|
|
Name |
Rongjin Shen |
|
Position |
Director |
|
4 |
|
|
Name |
Zhiyu Song |
|
Position |
Director/Manager |
|
Date of Appointment |
2012-2-1 |
|
5 |
|
|
Name |
Hongnan Lin |
|
Position |
Director/Manager |
|
Date of Appointment |
2014-2-1 |
|
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 |
Mingde Su |
|
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
The subject is a manufacturer of steel products
l
It is introduced that subject has factories in
Taiwan for production.
l
It is introduced that subject’s annual capacity of
crude steel is about 15,860,000 tons, annual capacity of carbon steel and
stainless steel is about 7,000,0000 tons.
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.
Sales Information
l
The subject is mainly engaged in sales of steel
products
l
It is introduced that subject’s selling territory
includes China, Japan, Southeast Asia and etc, and the subject also has offices
in Singapore and Japan.
l
It is introduced that 75% of subject’s products are
sold in domestic market, and 25% of subject’s products are exported to the
overseas market.
l
It is introduced that the subject’s Market-share-Oriented
in Taiwan market is 50%.
l
It is introduced that subject’s major customers are
manufactures of machinery, hardware and etc, the construction industry and etc.
Major Products
|
|
Product |
|
1 |
Plate products |
|
2 |
Steel bar and wire rod products |
|
3 |
Hot-rolled products |
|
4 |
Cold-rolled products |
|
5 |
Coated products |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials, etc |
CBD, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Steel products, etc |
CBD, etc |
100% |
Export
|
Product |
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
9,213,453,417.70) |
288,587,009.00 (USD
9,552,229,997.90) |
|
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 2014.5, 1 NTD = 0.0331 USD)
|
|
2012 |
2011 |
|
Sales |
201,072,107.00 (USD
6,655,486,741.70) |
234,417,553.00 (USD 7,759,221,004.30) |
|
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 2014.5, 1 NTD =
0.0331 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 |
Note: The subject declined to disclose its financial figures of 2013 for us,
we just offer its financial figures of 2012 and 2011 obtained from official
sources for references.
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
|
Trial Number |
2012,Xiongbu,552 |
|
Trial Date |
2012-4-23 |
|
Reason |
Payment for salary |
|
2 |
|
|
Trial Number |
2008,Xiongbu,2431 |
|
Trial Date |
2008-12-3 |
|
Reason |
|
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.72 |
|
UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
Sum |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.