|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
APAC OPTO ELECTRONICS INC. |
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|
|
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Formerly Known As : |
APAC OPTOELECTRONICS INC. |
|
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|
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Registered Office : |
No.3, |
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|
|
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Country : |
|
|
|
|
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Financials (as on) : |
31.12.2012 |
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|
|
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Date of Incorporation : |
20.07.1998 |
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|
|
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Com. Reg. No.: |
16634613 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sales of optical
transmission components |
|
|
|
|
No of Employees : |
500 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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 |
|
Source
: CIA |
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Company Name: |
|
|
Former Name: |
APAC OPTOELECTRONICS INC. |
|
Supplied Name: |
|
|
Trading Address: |
No.3,Tzu Chiang
Rd., Fengshan Village, Hukuo Hsiang, Hsinchu Hsien, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886- 3-598-6799 |
|
Fax Number: |
+886- 3-598-6655 |
Notes: The exact name and
address are as above.
Subject was incorporated
on 1998-7-20 with registered number 16634613
as Joint Stock Company in
Subject listed on
|
Former English Name: |
APAC Optoelectronics Inc. |
|
Current English Name: |
APAC Opto Electronics Inc. |
Factory
|
Address: |
1F, 2F, 3F, 4F and 5F, No.3,Tzu Chiang Rd.,
Fengshan Village, Hukuo Hsiang, Hsinchu Hsien, Taiwan, R.O.C. |
|
Date of Registration: |
20120-4-23 |
|
Factory Registration Number: |
99700640 |
|
Factory Manager: |
Zhengyan Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-1-17 |
|
Major Products: |
269 other electronic components |
Major Shareholders
|
Name |
Subscription Shares |
|
Zhengyan Ye |
1,743,281 |
|
Xiuxia You |
660,901 |
|
Duanyou Hong |
618,289 |
|
Jiu Yang Investment Co., Ltd (Liberal Translation) |
6,723,512 |
|
Zhiyuan Liu |
341,149 |
|
Mingyan Ye |
1,694,979 |
Shareholder Information:
|
Registered Name: |
Jiu Yang Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
5F., No.232, Sec. 3, |
|
Date of Foundation: |
1993-3-30 |
|
Registration Number: |
84253339 |
|
Registry: |
|
|
Registered Capital: |
NTD 95,000,000 (USD 3,144,500) (As of 2014.08, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 95,000,000 (USD 3,144,500) |
|
Legal Representatives: |
Youji Chen |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-9-4 |
Core Management
Directors
|
1 |
||
|
Name |
Zhenyan Ye |
|
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Position |
Board Chairman |
|
|
2 |
||
|
Name |
Xiuxia You |
|
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Position |
Director |
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|
3 |
||
|
Name |
Duanyou Hong |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Jiu Yang Investment Co., Ltd (Liberal Translation) |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Zhiyuaqn Liu |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Mingyan Ye |
|
|
Position |
Supervisor |
|
|
7 |
||
|
Name |
Chunxia Liu |
|
|
Position |
Supervisor |
|
|
8 |
||
|
Name |
Yueling Liu |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 500 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.3,Tzu Chiang Rd., Fengshan Village, Hukuo Hsiang, Hsinchu Hsien,
Taiwan, R.O.C. |
Production
Information
·
Subject is engaged in manufacturing of optical transmission components
·
Subject has a factory in
·
Subject obtained the certifications of ISO 9001 and
ISO 14001.
Purchase
Information
·
The registered activities of subject:
|
Business Code |
Details |
|
CC01110 |
Manufacturing of computer and related equipment. |
|
CC01120 |
Manufacturing and copying of files storage media. |
|
CC01060 |
Manufacturing of wired communication equipment. |
|
CC01070 |
Manufacturing of wireless communication equipment. |
|
CC01080 |
Manufacturing of components and parts. |
|
CE01030 |
Manufacturing of optical instrument. |
|
F113050 |
Manufacturing of computer and office equipment. |
|
F113070 |
Wholesales of telecommunication equipment. |
|
F119010 |
Wholesales of telecommunication materials. |
|
F213030 |
Retails of computer and office equipment. |
|
F213060 |
Retails of telecommunication equipment. |
|
F218010 |
Retails of information media. |
|
F219010 |
Retails of electronic materials. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
·
It is introduced that subject purchases its raw
materials both at home and abroad.
·
Subject is engaged in sale of optical transmission components
·
The major products include Optical Transceiver,
Optical Sub Assembly, To-Can Assembly, Fiber Converter/ Fiber Extender,
Micro/Pico Projector, Smart Lighting and so on.
·
Subject’s sales regions cover Asia, Europe,
·
Subject’s major customers are manufacturers of
telecommunication equipment and etc.
·
It is introduced that subject also provides OEM
services.
·
It is introduced that subject’s products are
applied to many fields such as telecom, datacom, video, CATV
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1. Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T and etc. |
2. Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T and etc. |
Sales
Domestic Markets
|
Product |
Optical transmission components |
|
Selling Terms |
Cash, T/T and etc. |
Export
|
Product |
Optical transmission components |
|
Selling Terms |
Cash, T/T and etc. |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and
cash equivalents |
445,271.00 |
369,383.00 |
|
Notes
receivable - net |
813.00 |
291.00 |
|
Accounts
receivable - net |
179,759.00 |
202,497.00 |
|
Other Financial Asset-
Current |
436.00 |
172.00 |
|
Inventories |
211,147.00 |
178,934.00 |
|
Other
current assets |
26,646.00 |
22,521.00 |
|
Current
assets |
864,072.00 |
773,798.00 |
|
Funds and
Investments |
|
|
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
150,880.00 |
150,880.00 |
|
Buildings
and structures |
175,897.00 |
175,897.00 |
|
Machinery
and equipment |
477,233.00 |
467,096.00 |
|
Office
Facilities |
102,570.00 |
103,393.00 |
|
Fixed
assets |
906,580.00 |
897,266.00 |
|
Accumulated
Depreciation |
-422,948.00 |
-355,577.00 |
|
Accumulative
Loss- fixed asset |
-6,611.00 |
-6,611.00 |
|
Construction
in process and prepayment for equipments |
2,097.00 |
596.00 |
|
Fixed
assets- net |
479,118.00 |
535,674.00 |
|
Intangible Assets |
|
|
|
Other
Intangible Assets |
2,265.00 |
2,268.00 |
|
Intangible
Assets |
2,265.00 |
2,268.00 |
|
OtherAssets |
|
|
|
Guarantee
deposits paid |
3,040.00 |
2,298.00 |
|
Deferred
income tax assets - non current |
985.00 |
5,864.00 |
|
Other
assets- others |
1,000.00 |
1,000.00 |
|
Other
assets |
5,025.00 |
9,162.00 |
|
Assets |
1,350,480.00 |
1,320,902.00 |
|
Assets (USD) |
447,008,880.00 |
437,218,562.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Accounts
payable |
91,519.00 |
101,056.00 |
|
Other
current liabilities |
119,842.00 |
119,991.00 |
|
Current
liabilities |
211,361.00 |
221,047.00 |
|
Long term Liabilities |
|
|
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Liabilities |
211,361.00 |
221,047.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common
stock |
747,932.00 |
747,287.00 |
|
Capital Surplus |
|
|
|
Capital
surplus - additional paid-in capital |
22,925.00 |
9,451.00 |
|
Capital
surplus |
22,925.00 |
9,451.00 |
|
Retained
Earnings |
|
|
|
Legal
reserve |
122,037.00 |
104,393.00 |
|
Unappropriated
retained earnings |
246,225.00 |
238,724.00 |
|
Retained
earning |
368,262.00 |
343,117.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Stockholders‘
equity |
1,139,119.00 |
1,099,855.00 |
|
Stockholders‘ equity (USD) |
377,048,389.00 |
364,052,005.00 |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As
of 2014.08, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
1,363,723.00 |
1,448,101.00 |
|
Sales (USD) |
451,392,313.00 |
479,321,431.00 |
|
Sales
Return |
5,383.00 |
986.00 |
|
Sales
discounts and allowances |
322.00 |
437.00 |
|
Sales |
1,358,018.00 |
1,446,678.00 |
|
Operating
income |
1,358,018.00 |
1,446,678.00 |
|
Cost of
sales |
979,951.00 |
1,115,929.00 |
|
Operating
costs |
979,951.00 |
1,115,929.00 |
|
Gross
profit (loss) from operations |
378,067.00 |
330,749.00 |
|
Selling
expense |
30,146.00 |
30,017.00 |
|
General
and administrative expenses |
43,889.00 |
41,450.00 |
|
Research
and development expenses |
112,876.00 |
97,108.00 |
|
Operating
expenses |
186,911.00 |
168,575.00 |
|
Operating
income (loss) |
191,156.00 |
162,174.00 |
|
Non-Operating Income |
|
|
|
Interest
income |
2,963.00 |
1,565.00 |
|
Exchange
Gains |
0.00 |
18,452.00 |
|
Miscellaneous
Income |
3,064.00 |
2,024.00 |
|
Non-operating
revenues and gains |
6,027.00 |
22,041.00 |
|
Non-Operating Expenses
and Loss |
|
|
|
Interest
expense |
1.00 |
0.00 |
|
Exchange
Loss |
6,563.00 |
0.00 |
|
Miscellaneous
disbursements |
3.00 |
20.00 |
|
Non-operating
expenses and losses |
6,567.00 |
20.00 |
|
Income
from continuing operations before income tax |
190,616.00 |
184,195.00 |
|
Income tax
expense (benefit) |
15,987.00 |
7,755.00 |
|
Income from
continuing operations |
174,629.00 |
176,440.00 |
|
Net income
(loss) |
174,629.00 |
176,440.00 |
|
Net income (loss) (USD) |
57,802,199.00 |
58,401,640.00 |
|
Primary Earnings per
Share |
|
|
|
Primary earnings
per share |
2.34 |
2.37 |
|
Diluted earnings per
share |
|
|
|
Diluted
earnings per share |
2.29 |
2.32 |
(As of 2014.08, 1
NTD = 0.0331 USD)
Unit:
NTD/000
|
|
2012 |
2011 |
|
|
|
|
|
174,629.00 |
176,440.00 |
|
|
Adjustments to Reconcile Net Income to Net Cash Provided by
(Used in) Operating Activities |
|
|
|
75,786.00 |
72,731.00 |
|
|
786.00 |
993.00 |
|
|
Share-based
Compensation |
12,493.00 |
0.00 |
|
Loss (Gain) on Disposal and Scrapping of Property, Plan and Equipment |
0.00 |
-74.00 |
|
-72.00 |
0.00 |
|
|
Loss (Gain) on
Deferred Income Tax |
551.00 |
-7,266.00 |
|
|
|
|
|
-522.00 |
-217.00 |
|
|
22,738.00 |
-67,200.00 |
|
|
-264.00 |
-114.00 |
|
|
-32,213.00 |
93,060.00 |
|
|
203.00 |
1,699.00 |
|
|
-9,537.00 |
-6,095.00 |
|
|
-556.00 |
7,493.00 |
|
|
-716.00 |
-538.00 |
|
|
243,306.00 |
270,912.00 |
|
|
|
|
|
|
Proceeds from
Disposal of Available-for-sale Financial Assets |
-109,000.00 |
0.00 |
|
Acquisition of
Financial Assets Carried at Cost |
109,072.00 |
0.00 |
|
Purchase of
Property, Plant and Equipment |
-19,057.00 |
-46,035.00 |
|
Proceeds from
Disposal of Property, Plant and Equipment |
0.00 |
74.00 |
|
Increase
(Decrease) in refundable deposits |
-26.00 |
370.00 |
|
Increase
(Decrease) in asset under limitation |
0.00 |
-1,000.00 |
|
Purchasing of
Intangible asset |
-549.00 |
-1,510.00 |
|
Net Cash
Provided by (Used in) Investment Activities |
-19,560.00 |
-48,101.00 |
|
Net Cash Provided by (Used in) Financing Activities |
|
|
|
Cash dividends |
-149,484.00 |
-113,872.00 |
|
Employees stock
options |
1,626.00 |
5,295.00 |
|
Net Cash
Provided by (Used in) Financing Activities |
-147,858.00 |
-108,577.00 |
|
Exchange Influence |
0.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
75,888.00 |
114,234.00 |
|
Cash and Cash Equivalents, Beginning of year |
369,383.00 |
255,149.00 |
|
Cash and Cash Equivalents, End of year |
445,271.00 |
369,383.00 |
|
Supplemental Cash Flow Information |
|
|
|
14,702.00 |
13,080.00 |
|
|
Investing Activities Non-Affecting Both Cash and Non-cash Items |
|
|
|
Payables on
equipment |
487.00 |
80.00 |
Note: The subject declined to introduce its financial
information for us, we offered subject’s financial figures of 2012 and 2011 as
above obtained from public files for references.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
1 |
|
|
Trial Number: |
2003, Su, 878 |
|
Date of Trial: |
2004-6-11 |
|
Reason: |
Payment for goods |
|
Claimant: |
Wha Yu Industrial Co., Ltd. |
|
Defendant: |
APAC Opto Electronics Inc. |
|
2 |
|
|
Trial Number: |
2003, Bu, 914 |
|
Date of Trial: |
2003-12-4 |
|
Reason: |
Payment for goods |
|
Claimant: |
Wha Yu Industrial Co., Ltd. |
|
Defendant: |
APAC Opto Electronics Inc. |
Interview Details
|
Name |
Mr. Thomas Hsiao |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.