|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHI MEI CORPORATION |
|
|
|
|
Registered Office : |
No.59-1 San Chia, Jen Te ,Tainan City 71702, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.01.1960 |
|
|
|
|
Com. Reg. No.: |
68387705 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of chemicals |
|
|
|
|
No. of Employees : |
2,200 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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.
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: |
|
|
Supplied Address: |
59-1 SAN CHIA TZU SAN CHIA VILLAGE JENTE HSIANG TAINAN SHIEN 717 TAINAN TAIWAN |
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name
and address are as above.
|
Registered Name: |
CHI MEI CORPORATION |
|
Registered Address: |
No.59-1 San Chia, Jen Te ,Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
1960-1-11 |
|
Registration Number: |
68387705 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 19,600,000,000 (USD 666,400,000) (As of 2014.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 17,049,693,340 (USD 579,689,574) |
|
Legal Representatives: |
Chunhua Xu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
About 2,200 Employees |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 1763 |
|
Date of Last Annual Return: |
2014-6-5 |
Subject was incorporated on 1960-1-11 with registered number 68387705 as Joint Stock Company in Taiwan.
Subject was public offer without listing on 1983-1-7.
Major Shareholders
|
Name |
Subscription Shares |
|
Chunhua Xu |
1,798,277 |
|
Taiqi Investment Co., Ltd. (Literal Translation) |
267,863,423 |
|
Lingyu Zhao |
12,767,948 |
|
Rongjun Lin |
336,656 |
|
Guangfu Song |
1,651,063 |
|
Qingsheng Lin |
904,645 |
|
Jiazhang Xu |
57,096,282 |
|
Mitsubishi Chemical Corporation |
72,594,635 |
|
Zhaoyang He |
1,994,019 |
|
Yueli Investment Co., Ltd. (Literal Translation) |
21,643,807 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Taiqi Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
No.392, Sec 1, Jinhua Road, South District, Tainan City, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-22 |
|
Registration Number: |
70802398 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,000,000,000 (USD 102,000,000) (As of 2014.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 3,000,000,000 (USD 102,000,000) |
|
Legal Representatives: |
Guangfu Song |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-6-6 |
|
2 |
|
|
Registered Name: |
Yueli Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
1st Floor, No.1-1, Lane 35, Yonghua 6th Street, Anping District, Tainan City, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-20 |
|
Registration Number: |
12751511 |
|
Registry: |
Tainan City Government |
|
Registered Capital: |
NTD 234,379,740 (USD 7,968,911) (As of 2014.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 91,560,760 (USD 3,113,066) |
|
Legal Representatives: |
Yongchun Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-1-20 |
Factories
|
1 |
|
|
Address: |
Bldg A, No.59-1 and No. 59-4, San Chia, Jen Te ,Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
1968-12-26 |
|
Date of Registration: |
1983-3-17 |
|
Factory Registration Number: |
99656523 |
|
Factory Manager: |
Chunhua Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-7-14 |
|
Major Products: |
184 Synthetic resin, plastic and rubber 199 Other chemical products 220 Plastic products 269 Other electronic components |
|
2 |
|
|
Name: |
Xumei Factory |
|
Address: |
No. 36, Kaifa 4th Road, Bao-An Li, Jen Te ,Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-14 |
|
Date of Registration: |
2002-4-18 |
|
Factory Registration Number: |
99658627 |
|
Factory Manager: |
Chunhua Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-6-5 |
|
Major Products: |
181 Basic chemical material 184 Synthetic resin, plastic and rubber |
|
3 |
|
|
Name: |
Shugu Factory |
|
Address: |
No.18, Wangjia Road, Fenghua Li, Xinshi District, Tainan City, Taiwan, R.O.C. |
|
Date of Registration: |
2008-3-18 |
|
Factory Registration Number: |
99711405 |
|
Factory Manager: |
Chunhua Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-4-7 |
|
Major Products: |
264 Photoelectric material and component |
Major Related
Companies
|
1 |
|
|
Name: |
Zhenjiang Chi Mei Co., Ltd (Literal Translated) |
|
Address: |
No.2., Hanqiao Road, Dagang Development Area, Zhenjiang City, Jiangsu Province, China |
|
Tel: |
+86-511-83121300 |
|
Fax: |
+86-511-83121033 |
|
2 |
|
|
Name: |
Chi Mei Innolux Corporation |
|
Address: |
No.160 Science Road, Hsinchu Science and Industry Park, Zhunan Township, Miaoli County, Taiwan |
|
Tel: |
+886-3-758-6000 |
|
Listed at Stock Exchange: |
Yes; Stock Code: 3481 |
|
3 |
|
|
Name: |
Chi Lin Technology Co., Ltd. |
|
Address: |
No., 18, Shengli 1st St., Rende Dist., Tainan City, 71758, Taiwan (R.O.C.) |
|
Tel: |
+886-6-279-1188 |
|
Fax: |
+886-6-279-1685 |
|
4 |
|
|
Name: |
Chimei Materials Technology Corp. |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 4960 |
|
5 |
|
|
Name: |
Nexgen Mediatech Inc |
|
Address: |
11F, No. 186, Jianyi Rd., Chung Ho City, Taipei Hsien, Taiwan, R.O.C. |
|
Tel: |
+886-2-8227-1133 |
|
Fax: |
+886-2-82271498 |
|
6 |
|
|
Name: |
GIO Optoelectronics Corp. |
|
Address: |
No.5 Titang Gang Road, Fenghua Li, Xinshi District, Tainan City, Taiwan |
|
Tel: |
+886-6-588-9999 |
|
Fax: |
+886-6-509-1188 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 3610 |
|
7 |
|
|
Name: |
Chi Mei Visual Technology Corporation |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Fax: |
+886-6-5091005 |
|
8 |
|
|
Name: |
Chimei Lighting Technology Corp. |
|
Address: |
No.3, Titanggang Rd., Xinshi Dist., Tainan City, Taiwan; Tainan, Taiwan |
|
Tel: |
+886-6-588-9968 |
|
Fax: |
+886-6-509-1268 |
|
9 |
|
|
Name: |
Chi Mei Trading Co., Ltd. |
|
Address: |
7F, No. 9, Ai Kuo West Road, Taipei, Taiwan |
|
Tel: |
+886-2-2349-7388 |
|
Fax: |
+886-2-2314-9419 |
|
10 |
|
|
Name: |
Chi Mei Logistics Corp. |
|
Address: |
No.5 Kanxi Road, Sinshih Township Tainan County, Taiwan |
|
Tel: |
+886-6-588-9977 |
|
Fax: |
+886-6-509-1158 |
|
11 |
|
|
Name: |
Chi Mei Frozen Food Co., Ltd. |
|
Address: |
Mo.71 Delun Road, Rende District, Tainan City, Taiwan |
|
Tel: |
+886-7-699-3901 |
|
Fax: |
+886-6-279-1194 |
Core Management
Directors
|
1 |
|
|
Name |
Chunhua Xu |
|
Position |
Chairman |
|
2 |
|
|
Name |
Wenlong Xu |
|
Position |
Director |
|
3 |
|
|
Name |
Jinxiang Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Lingyu Zhao |
|
Position |
Director |
|
5 |
|
|
Name |
Rongjun Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Guangfu Song |
|
Position |
Director |
|
7 |
|
|
Name |
Qingsheng Lin |
|
Position |
Director |
|
8 |
|
|
Name |
Jucheng Lv |
|
Position |
Director |
|
9 |
|
|
Name |
Jiazhang Xu |
|
Position |
Director |
|
10 |
|
|
Name |
Zhiren Yue |
|
Position |
Director |
|
11 |
|
|
Name |
Zhaoyang He |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Yongchun Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 2,200 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacture of chemicals products such as synthetic resin, etc.
Subject obtained the certifications of ISO 9001: 2000, ISO 14001 and ISO 18001.
Subject has factories in Taiwan and Zhenjiang City, Jiangsu Province, Mainland China for production and the annual production capacities are as follows for reference:
|
Product |
Annual Production Capacity |
|
ABS Resin |
1,950,000 tons |
|
PS Resin |
150,000 tons |
|
TPE |
50,000 tons |
|
PSP Resin |
120,000 tons |
|
PMMA |
380,000 tons |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801020 |
Manufacturing industry for petrochemical and chemical raw materials |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801100 |
Synthetic resin and plastic manufacturing industry |
|
C802990 |
Other chemical products manufacturing industry |
|
C901070 |
Stone product manufacturing industry |
|
CC01990 |
Other electric motor and electronic machinery manufacturing industry |
|
F105050 |
Wholesales of furniture, bedclothing, kitchen appliance and decoration |
|
F107990 |
Wholesales of other chemical products |
|
F199990 |
Other wholesales industry |
|
F205040 |
Retails of furniture, bedclothing, kitchen appliance and decoration |
|
F207990 |
Retails of other chemical products |
|
F299990 |
Other retails |
|
G801010 |
Storage industry |
|
H701020 |
Rent and sale of industrial warehouse |
|
H701040 |
Developing of special industrial area |
|
H701060 |
Developing of new town and subdistrict |
|
J101040 |
Waste management industry |
|
J101050 |
Environment measuring service industry |
|
J101060 |
Waste water disposal |
|
CC01080 |
Electric components manufacturing industry |
|
C801990 |
Other chemical material manufacturing industry |
|
C805010 |
Plastic sheath, pipes manufacturing industry |
|
C805050 |
Industrial plastic product manufacturing industry |
|
C805990 |
Other plastic product manufacturing industry |
|
C802090 |
Cleaning supplies manufacturing industry |
|
C802100 |
Cosmetics manufacturing industry |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted |
The raw materials for production are purchased both home and abroad.
It is introduced that some facilities for production are purchased from Japan and Europe.
Subject imports some technology from Japan.
Subject is engaged in sales of chemical products such as synthetic resin, etc.
The major products sold by subject include ABS resin, SAN resin, PS resin, acrylic resin, PC resin, PC/ABS resin, TPE, Q resin, electronic chemical, optical pmma sheet, MS resin, and ASA resin, etc.
Subject’s sales regions include Asia, America, and Europe, etc.
Subject’s major types of customers include houseware manufacturer, packaging manufacturer, communication & electronics manufacturer, and garment manufacturer, etc.
Subject’s major customers are Polimeros Tecnicos S.A., Vidyut Metallics Pvt. Ltd, Foreway Enterprises Ltd, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan and Mainland, China)
|
Product |
Payment Terms |
Proportion |
|
Raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials |
T/T, etc |
100% |
Sales
Domestic Markets
(Taiwan and Mainland, China)
|
Product |
Sales Terms |
Proportion |
|
Industrial chemicals |
Cash, T/T, etc |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
Industrial chemicals |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
Date |
2013-12-31 |
2012-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
645,464.00 |
393,915.00 |
|
Financial liabilities at fair value through profit or loss-current |
50,000.00 |
0.00 |
|
Available-for-sale financial assets - current |
123,268.00 |
6,761,323.00 |
|
Notes receivable - net |
73,566.00 |
60,933.00 |
|
Accounts receivable - net |
3,197,109.00 |
3,311,209.00 |
|
Accounts receivable - related parties - net |
1,379,450.00 |
1,368,629.00 |
|
Other receivables |
88,014.00 |
48,852.00 |
|
Inventories |
11,622,447.00 |
11,051,168.00 |
|
Other current assets |
1,620,173.00 |
871,400.00 |
|
Current assets |
18,799,491.00 |
23,867,429.00 |
|
Funds and Investments |
|
|
|
Financial liabilities at fair value through profit or loss-non current |
0.00 |
408,347.00 |
|
Available-for-sale financial assets-non current |
6,480,051.00 |
8,906,501.00 |
|
Financial assets at cost-non current |
1,143,200.00 |
1,087,362.00 |
|
Income from long-term equity investments under the equity method |
22,160,373.00 |
23,817,271.00 |
|
Investments |
22,160,373.00 |
23,817,271.00 |
|
Other financial assets- non current |
79,112.00 |
83,186.00 |
|
Funds and Investments |
29,862,736.00 |
34,302,667.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
7,998,073.00 |
6,555,614.00 |
|
Buildings and structures |
6,171,413.00 |
5,510,018.00 |
|
Machinery and equipment |
36,853,354.00 |
33,703,343.00 |
|
Other facilities |
1,835,478.00 |
1,780,367.00 |
|
Revaluation increment |
89,525.00 |
89,525.00 |
|
Cost and revaluation increment |
52,947,843.00 |
47,638,867.00 |
|
Accumulated depreciation |
-32,552,402.00 |
-31,459,116.00 |
|
Accumulated loss-fix asset |
-556,956.00 |
-612,185.00 |
|
Construction in process and prepayment for equipments |
2,841,200.00 |
4,010,596.00 |
|
Fixed assets |
22,679,685.00 |
19,578,162.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
14,697.00 |
0.00 |
|
Other intangible assets |
139,587.00 |
191,029.00 |
|
Intangible assets |
154,284.00 |
191,029.00 |
|
Other assets |
|
|
|
Rent assets |
1,101,564.00 |
1,140,152.00 |
|
Idle assets |
1,620,663.00 |
1,619,362.00 |
|
Other assets-other |
1,765,981.00 |
1,432,874.00 |
|
Other assets |
4,488,208.00 |
4,192,388.00 |
|
Assets |
75,984,404.00 |
82,131,675.00 |
|
Assets (USD) |
2,583,469.74 |
2,792,476.95 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
498,492.00 |
1,208,939.00 |
|
Notes payable |
3,880,000.00 |
4,700,000.00 |
|
Accounts payable |
5,047,649.00 |
4,727,319.00 |
|
Accounts payable–related parties |
61,481.00 |
100,210.00 |
|
Income tax payable |
41,798.00 |
20,727.00 |
|
Other payables |
1,984,538.00 |
1,594,471.00 |
|
Other current liabilities |
598,599.00 |
1,133,929.00 |
|
Current liabilities |
12,112,557.00 |
13,485,595.00 |
|
Long term Liabilities |
|
|
|
Derivative financial Liabilities for hedging – non current |
24,744.00 |
0.00 |
|
Long-term loans |
18,177,500.00 |
20,108,550.00 |
|
Long term liabilities |
18,202,244.00 |
20,108,550.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
2,320.00 |
2,320.00 |
|
Reserves |
2,320.00 |
2,320.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
652,096.00 |
689,405.00 |
|
Deferred income taxes |
587,561.00 |
464,080.00 |
|
Other liabilities - other |
108,573.00 |
406,326.00 |
|
Other liabilities |
1,348,230.00 |
1,559,811.00 |
|
Liabilities |
31,665,351.00 |
35,156,276.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
17,076,760.00 |
17,076,760.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
146,094.00 |
277,210.00 |
|
Capital surplus |
146,094.00 |
277,210.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
10,055,690.00 |
10,055,690.00 |
|
Special reserve |
9,030,638.00 |
909,116.00 |
|
Unappropriated retained earnings |
15,044,128.00 |
28,864,066.00 |
|
Retained earnings |
34,130,456.00 |
39,828,872.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
765,936.00 |
-15,911.00 |
|
Net loss not recognized as pension cost |
-359,209.00 |
-452,119.00 |
|
Unrealized gains (losses) on financial instruments |
-6,963,585.00 |
-9,030,638.00 |
|
Unrealized Revaluation Increment |
108,148.00 |
108,148.00 |
|
Treasury stock |
-585,547.00 |
-816,923.00 |
|
Stockholders other equity adjustments |
-7,034,257.00 |
-10,207,443.00 |
|
Stockholders-equity |
44,319,053.00 |
46,975,399.00 |
|
Stockholders-equity (USD) |
1,506,847.80 |
1,597,163.57 |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
18,507,000.00 |
26,174,000.00 |
|
Equivalent shares of outstandings of advance receipts for common stock (unit: share) |
0.00 |
0.00 |
(As of 2014.10, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
2013 |
2012 |
|
|
Sales |
84,705,711.00 |
89,114,756.00 |
|
Sales (USD) |
2,879,994.17 |
3,029,901.70 |
|
Sales returns |
574,055.00 |
811,489.00 |
|
Sales |
84,131,656.00 |
88,303,267.00 |
|
Operating income |
84,131,656.00 |
88,303,267.00 |
|
Cost of sales |
77,980,498.00 |
80,143,165.00 |
|
Operating costs |
77,980,498.00 |
80,143,165.00 |
|
Gross profit (loss) from operations |
6,151,158.00 |
8,160,102.00 |
|
Unrealized gains on intercompany transactions |
20,936.00 |
46,096.00 |
|
Realized gains on intercompany transactions |
46,096.00 |
76,521.00 |
|
Selling expense |
2,019,082.00 |
2,019,595.00 |
|
General and administrative expenses |
879,560.00 |
849,373.00 |
|
Research and development expenses |
1,016,105.00 |
1,102,911.00 |
|
Operating expenses |
3,914,747.00 |
3,971,879.00 |
|
Operating income (loss) |
2,261,571.00 |
4,218,648.00 |
|
Non-Operating Income |
|
|
|
Interest income |
18,316.00 |
13,762.00 |
|
Investment income |
18,771.00 |
31,218.00 |
|
Dividend income |
18,771.00 |
31,218.00 |
|
Gains on sale of investments |
0.00 |
62,493.00 |
|
Foreign exchange gains |
263,684.00 |
124,612.00 |
|
Rent income |
167,598.00 |
158,513.00 |
|
Miscellaneous income |
314,429.00 |
328,746.00 |
|
Non-operating revenues and gains |
782,798.00 |
719,344.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
356,625.00 |
387,415.00 |
|
Investment loss recognized under equity method |
697,306.00 |
4,544,383.00 |
|
Investment losses |
697,306.00 |
4,544,383.00 |
|
Loss on disposal of investments |
5,396,851.00 |
0.00 |
|
Miscellaneous disbursements |
111,001.00 |
72,543.00 |
|
Non-operating expenses and losses |
6,561,783.00 |
5,004,341.00 |
|
Income (loss)from continuing operations before income tax |
-3,517,414.00 |
-66,349.00 |
|
Income tax expense (benefit) |
440,054.00 |
725,412.00 |
|
Income (loss) from continuing operations |
-3,957,468.00 |
-791,761.00 |
|
Net income (loss) |
-3,957,468.00 |
-791,761.00 |
|
Net income (loss) (USD) |
-134,553.91 |
-26,919.87 |
(As of 2014.10, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
Date |
2013 |
2012 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-3,957,468.00 |
-791,761.00 |
|
Adjustment item |
|
|
|
Depreciation Expense |
1,980,739.00 |
1,947,882.00 |
|
Amortization Expense |
489,658.00 |
274,914.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
-225.00 |
0.00 |
|
Allowance for sales returns and allowances |
25,842.00 |
-26,656.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
124,869.00 |
44,929.00 |
|
Investment Loss (Income) Recognized under Equity Method |
697,306.00 |
4,544,383.00 |
|
Received the equity method of invested company cash dividends |
559,068.00 |
367,745.00 |
|
Loss (Gain) on Disposal of Fix Assets |
12,995.00 |
-25,133.00 |
|
Provision for Fix Assets |
3,074.00 |
107,523.00 |
|
Loss (Gain) on Disposal of Investments |
5,335,276.00 |
-62,220.00 |
|
Loss (Gain) on Disposal of Long-Term Equity Investments under Equity Method |
61,575.00 |
-273.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-50,000.00 |
0.00 |
|
Decrease (Increase) in Notes Receivable |
-12,633.00 |
83,084.00 |
|
Decrease (Increase) in Accounts Receivable |
338,066.00 |
-338,199.00 |
|
Decrease (Increase) in Other Receivable |
-39,162.00 |
151,544.00 |
|
Decrease (Increase) in Inventories |
-696,148.00 |
-1,151,353.00 |
|
Decrease (Increase) in Other Current Assets |
-739,305.00 |
-217,683.00 |
|
Decrease (Increase) in Deferred Income Tax assets |
4,576.00 |
110,154.00 |
|
Increase (Decrease) in Account Payable |
256,028.00 |
-137,081.00 |
|
Increase (Decrease) in income tax payable |
18,564.00 |
-158,686.00 |
|
Increase (Decrease) in other accounts payable |
228,080.00 |
-174,358.00 |
|
Increase (Decrease) in Other Current Liabilities |
-535,469.00 |
291,140.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
34,557.00 |
-19,605.00 |
|
Net Cash Provided by (Used in) Operating Activities |
4,139,863.00 |
4,820,290.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial liabilities at fair value through profit or loss |
408,347.00 |
591,653.00 |
|
Proceeds from Sale of Available-for-sale Financial Assets |
0.00 |
-100,631.00 |
|
Proceeds from sale of Available-for-sale financial assets |
5,076,168.00 |
12,831.00 |
|
Acquisition of Financial Assets At Cost |
-333,338.00 |
0.00 |
|
Disposal of Financial Assets at Cost-non Current |
35,652.00 |
172,794.00 |
|
Increased in Long-Term Equity Investments Under Equity Method |
-141,683.00 |
-1,212,406.00 |
|
Disposal of Long-Term Equity Investments Under Equity Method |
657,947.00 |
6.00 |
|
Proceeds from Capital Reduction of Long-term investments accounted for by equity method |
1,356,363.00 |
63,991.00 |
|
Purchase of Property, Plant and Equipment |
-5,539,444.00 |
-4,080,669.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
61,816.00 |
101,949.00 |
|
Proceeds from Disposal of Leasing and Idle Assets |
10,067.00 |
0.00 |
|
Purchase of intangible assets |
-3,835.00 |
-13,559.00 |
|
Increase (Decrease) in other financial assets |
4,074.00 |
14,887.00 |
|
Increase (Decrease) in other assets |
-263,148.00 |
-221,688.00 |
|
Net Cash Provided by (Used in) Investing Activities |
1,328,986.00 |
-4,670,842.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in short-term borrowing |
-710,447.00 |
3,261.00 |
|
Increase (Decrease) in short-term notes and bills payable |
-820,000.00 |
350,000.00 |
|
Bonds Redeemed |
0.00 |
-5,000,000.00 |
|
Long-term loans borrowing |
9,176,000.00 |
6,440,000.00 |
|
Repay long-term loans |
-11,108,550.00 |
-1,652,850.00 |
|
Increase (Decrease) in other liabilities |
-297,753.00 |
-383,836.00 |
|
Issue cash dividend |
-1,687,874.00 |
-1,682,385.00 |
|
Cost of buying treasury stock |
-55,175.00 |
-144,888.00 |
|
Employee Purchase Treasury Stock |
285,691.00 |
84,955.00 |
|
Net Cash Provided by (Used in) financial Activities |
-5,218,108.00 |
-1,985,743.00 |
|
Exchange Influence |
808.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
251,549.00 |
-1,836,295.00 |
|
Cash and Cash Equivalents, Beginning of year |
393,915.00 |
2,230,210.00 |
|
Cash and Cash Equivalents, End of year |
645,464.00 |
393,915.00 |
|
Supplemental Cash Flow Information |
|
|
|
Income Tax Paid |
358,203.00 |
475,885.00 |
|
Non capitalized interest-interest paid |
358,203.00 |
475,885.00 |
|
Payable income tax |
416,914.00 |
773,944.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Fix assets Transferred to Idle Assets |
23,814.00 |
1,200.00 |
|
Fix assets Transferred to Leasing Assets |
19,121.00 |
8,404.00 |
|
Fix assets Transferred to Deferred Charges |
484,768.00 |
2,395.00 |
|
Financial Assets At Cost Transferred to Financial Assets Available for Sale |
277,500.00 |
0.00 |
|
Long term equity investment transferred to Available for sale financial assets-current |
0.00 |
23,594,234.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Increase in fix assets |
5,636,526.00 |
4,078,084.00 |
|
Increase (Decrease) in payable of purchasing equipment |
-97,082.00 |
2,585.00 |
|
Pay cash on fix assets |
5,539,444.00 |
4,080,669.00 |
Note: The above
financial figures are based on the Taiwan generally accepted accounting
principle.
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
042740 |
|
Debtor Name: |
Chi Mei Corporation |
|
Document Number: |
099468 |
|
Date of Registration: |
1993-6-26 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
046392 |
|
Debtor Name: |
Chi Mei Corporation |
|
Document Number: |
189720 |
|
Date of Registration: |
1994-11-14 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
060016 |
|
Debtor Name: |
Chi Mei Corporation |
|
Document Number: |
832340 |
|
Date of Registration: |
1998-11-18 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
061945 |
|
Debtor Name: |
Chi Mei Corporation |
|
Document Number: |
855424 |
|
Date of Registration: |
1999-5-21 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.