|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
WALSIN LIHWA CORPORATION |
|
|
|
|
Registered Office : |
25F, No.1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.12.1966 |
|
|
|
|
Com. Reg. No.: |
35412204 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
The company is mainly engaged in manufacturing and sales of electrical
components, steel products, motech solar. |
|
|
|
|
No. of Employees : |
6,500 |
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 : |
No complaints |
|
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: |
25F, No.1, Songzhi Rd., Xinyi District,
Taipei 11047, Taiwan |
|
Supplied Address: |
|
|
Tel |
+886-2-8726-2211 |
|
Fax |
+
886-2-2720-2234 |
Notes: The exact
name and address are as above.
|
Walsin Lihwa Corporation |
|
|
Registered
Address: |
25F, No.1, Songzhi Rd., Xinyi District, Taipei 11047, Taiwan |
|
Date of
Foundation: |
1966-12-1 |
|
Registration
Number: |
35412204 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 65,000,000,000 (USD 2,151,500,000) (As of 2014.09, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 35,760,002,580 (USD 1,183,656,085) |
|
Legal
Representatives: |
Youlun Jiao |
|
Legal Form: |
Joint Stock Company |
|
Principal
Activities: |
The company is mainly engaged in manufacturing and sales of electrical
components, steel products, motech solar. |
|
Staff: |
About 6,500 Employees |
|
Listed at Stock
Exchange: |
Yes; stock symbol:1605 |
|
Date of Last
Annual Return: |
2014-9-4 |
Subject was incorporated on 1966-12-1 with registered
number 35412204 as Joint Stock Company in Taiwan.
Subject listed on Taiwan stock exchange on 1972-11-3.
Factories
|
1 |
|
|
Name: |
Taichung Stainless Steel Plant |
|
Address: |
No.57, Jing 3rd Rd., Wuqi Dist., Taichung City 435, Taiwan |
|
Date of
Registration: |
2013-2-1 |
|
Factory
Registration Number: |
90C00057 |
|
Factory Manager: |
Hongsheng Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-3-3 |
|
Major Products: |
254 metal
treatment |
|
2 |
|
|
Name: |
Xinzhuang 2nd Factory |
|
Address: |
No. 256, Xinshu
Rd., Xinzhuang Dist., New Taipei City, Taiwan |
|
Date of Foundation: |
1969-1-1 |
|
Date of
Registration: |
1974-12-31 |
|
Factory
Registration Number: |
99601304 |
|
Factory Manager: |
Jinren Lv |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2008-11-7 |
|
Major Products: |
281 Electricity generation
and transmission power machinery 283 Cables and
wiring accessories 289 Other
electric power equipment 272
Communications equipment 275 Measure,
navigation, control, equipment and clock |
|
3 |
|
|
Name: |
Xinzhuang 1st Factory |
|
Address: |
No. 397, Xinshu
Rd., Xinzhuang Dist., New Taipei City, Taiwan |
|
Date of
Foundation: |
1969-1-1 |
|
Date of
Registration: |
1969-12-5 |
|
Factory
Registration Number: |
99601389 |
|
Factory Manager: |
Jinren Lv |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2008-11-10 |
|
Major Products: |
281 Electricity
generation and transmission power machinery 283 Cables and
wiring accessories 289 Other
electric power equipment 259 Other metal
products 293 General
machinery equipment 220 Rubber
products 272
Communications equipment 275 Measure,
navigation, control, equipment and clock |
|
Description: |
Located in Hsin
Chuang City, Taipei County, this is where Walsin Lihwa was first established
in December 1966. This plant now manufactures low, medium, and high-voltage
PVC cables, copper communication cables, fiber optics, power cable insulation
materials, and other plastics. |
|
Telephone Number: |
+886-2-2202-9121 |
|
Fax Number: |
+886-2-2202-8777 |
|
4 |
|
|
Name: |
Yangmei Factory |
|
Address: |
No. 566, Gaoshi
Rd., Gaoshan Li, Yangmei City, Taoyuan County, Taiwan |
|
Date of
Foundation: |
1986-9-30 |
|
Date of
Registration: |
1988-6-2 |
|
Factory
Registration Number: |
99622164 |
|
Factory Manager: |
Changing Wu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-7-18 |
|
Major Products: |
241 Steel 251 Metal hand
tools and molds 262 Electronic
Passive Component 269 Other
electronic parts 275 Measure,
navigation, control, equipment and clock 277 Optical
instruments and equipment 332 Medical
Equipment & Product 242 Aluminum 243 Cooper 249 Other basic
metals |
|
Telephone Number: |
+886-3-478-6171/886-3-288-9668 |
|
Fax Number: |
+886-3-475-9764/886-3-288-9633 |
|
5 |
|
|
Name: |
Yen Shui Plant |
|
Address: |
No. 3-10, Shi Jou Liau, Chin Shuei Li, Yenshui DIst., Tainan City,
Taiwan |
|
Registered
Address: |
Block A, No. 3-10, Shi Jou Liau, Chin Shuei Li, Yenshui DIst., Tainan
City, Taiwan |
|
Date of
Foundation: |
1990-6-12 |
|
Date of
Registration: |
1994-10-11 |
|
Factory
Registration Number: |
99657714 |
|
Factory Manager: |
Hongsheng Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-3-14 |
|
Major Products: |
241 Steel and
iron |
|
Telephone Number: |
+886- 6-652-0911/0929 |
|
Fax Number: |
+886- 6-652-0933/0931 |
|
6 |
|
|
Name: |
Yangmei Factory |
|
Address: |
No. 566-3,
Gaoshi Rd., Gaoshan Li, Yangmei Factory, Taoyuan County, Taiwan |
|
Date of
Registration: |
2008-9-4 |
|
Factory
Registration Number: |
99707802 |
|
Factory Manager: |
Junliang Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-9-3 |
|
Major Products: |
261
Semiconductor |
Related Companies
|
1. Winbond Electronics Corporation 2. Walsin Technology Corporation 3. HannStar Board Corporation 4. HannStar Display Corporation 5. HannStar Display Corporation 6. Walsin China Investment Co., Ltd.
Established in November 1995 in Shanghai, Walsin China Investment Co., is
the investment holding company that one hundred percent run and owned by
Walsin Lihwa. Address: 2802-2809, 28F, Shanghai Mart Tower 2299, Yanan West Road,
Shanghai, 200336, P.R.C. Tel: 86-21-6236-0868 Fax: 86-21-6236-0954 7. Jiang ying Walsin Steel Cable Co., Ltd.
Established in December 1992, Jiangying Walsin Steel Cable Co., Ltd.
produces Pre-stressed concrete steel wire strand, Steel bar, and Galvanized
steel wire strand that are widely used in the top-class bridge and highway
projects in Mainland China. Representative infrastructures using materials
from this company include Humen Bridge in Guangzhou, Changjiang (Long River)
Bridge in Jiangyin, and the 2 nd Changjiang Bridge in Nanjing. Address: No.679, Binjiang West Road, Jiangyin City, Jiangsu Province,
214443, P.R.C. Tel: 86-510-86402144 Fax: 86-510-86402664 8. Hang zhou Walsin Power Cable & Wire Co., Ltd. Hangzhou Walsin Power Cable & Wire Co., Ltd. was established by
Walsin Lihwa in conjunction with Sumitomo Electric and Jejiang Power Supply
Company in January 1995 in Hangzhou Economic and Technological Development
Area, manufacturing high- and medium-voltage cables and related products with
annual capacity of various cables, wires, and power cable accessories
equivalent to 8,000 tons of copper. Address: No.9, Rd. 12, Xiasha Economic & Technological Development
Zone, Hangzhou City, 310018, P.R.C. Tel: 86-571-86912466 Fax: 86-571-86912205 9. Shanghai Walsin Lihwa Power Wire & Cable Co., Ltd. \ This company was established in March 1995 in Nanxiang Industrial
Development Zone, Jiading District, Shanghai, and its products include power
cables, insulation wires, control cables, overhead supply systems, elastic
cables and wires, fire-resistant and heat-resistant cables, and halogen-free
no-smoke eco-material cables. Address: No. 1128, Liu Xiang Road, Na XiangJia Din Distric,
Shanghai,201802, P.R.C. Tel: 86-21-69177599 Fax: 86-21-69178627 10. Dong guan Walsin Wire & Cable Ltd. Founded in January 2000, in Dong guan, Guang dong Province, this
company manufactures and sells bare copper bars and wires. The annual
capacity includes copper bars of 72,000 tons and copper wires of 43,000 tons.
The market covers the Pearl River Delta and other areas in South China. Address: Xiniupo Management Zone, Dalang Town, Dongguan City, Guangdong
Province, 523799, PRC Tel: 86-769-83195252 Fax: 86-769-83195253 11. Chang shu Walsin Specialty Steel Co., Ltd. This Walsin Lihwa wholly owned company was set up in December 1997 in Changshu
City, Jiangsu Province, manufacturing seamless stainless steel tubes for
chemical, boiler, and shipbuilding industry purposes. This company is the top
exporter of seamless stainless steel tubes in China, with primary markets in
America, Europe, and South East Asia. Address: No.56, RenMing Road, Haiyu Town, Changshu City, Jiangsu
Province, 215519, P.R.C. No.2, Haiyang Road, Haiyu Town,Changshu City,Jiangsu Province, 215519,
P.R.C. Tel: 86-512-52566260 / 86-512-52102518 Fax: 86-512-52568027 / 86-512-52561028 12. Shanghai Baihe Walsin Lihwa Specialty Steel Products Co., Ltd. Set up in August 1997 in Baihe Town, Shanghai City, this company
manufactures hot rolled stainless steel round bars and cold drawn bars, and
its primary products are austenitic, martensitic, and ferritic . The annual
capacity includes hot rolled stainless steel round bars of 210,000 tons and
cold drawn bars of 96,000 tons. The company is a major supplier of stainless
steel bars in the Greater China region.
Address: No. 2402 , Wusongjiang Bridge, Baihe Town, Qingou District,
Shanghai, 201709, PRC Tel: 86-21-59746686 Fax: 86-21-59747057 13. Nan jing Walsin Metal Co., Ltd. Set up in March 1995 in Nanjing Economic and Technological Development
Zone, the company primarily provides 8-centimeter copper bars and
2.6-centimeter copper wires. In
December 2006, the company set up its second plant, which has increased the
annual capacity to approx. 350,000 tons.
Address: No.59 HengJing Road Nanjing Economical & Technical
Development Zone Jiangsu, 210046, China Tel: 86-25-85805588 Fax: 86-25-85575484 14. Walsin Precision Technology Sdn. Bhd. Established in May 2000 in Malaysia, the company produces precision
stainless steel foils. It is the only precision stainless steel foil supplier
in South East Asia that combines technologies from Taiwan with Malaysian
human resources and one of a handful of precision foil manufacturer of the
world. Add:2115-1, Kawasan Perindustrian Air Keroh, Fasa IV, Air Keroh, 75450
Melaka, Malaysia Tel: 606-2331818 Fax: 606-2327520/606-2310710 15. Xi'an Walsin United Technology Co.,Ltd Established in April 2006 and located in Gaoxin District, Xian, Xian
Walsin United Technology manufactures light emitting diode (LED) EPI wafers
and chips. Address: NO.15 Shanglinyuan 1st Road,
New Industrial Park, Xi’an Hi-tech Industries Development Zone, Xi’an City,
Shaanxi Province, P. R. C TEL: 86-29-87607808 FAX: 86-29-87607806 16. Yantai Walsin Stainless Steel Co., Ltd. Set up in December 2006 in Yantai City, Shantung Province, the company
is targeted to manufacture stainless steel billet. Address: No.2, Wuzhishan Road,
ETDZ Yantai City, Shantung Province, 264006, P.R.C. Tel:+86-535-2166-688 Fax:+86-535-2165-019 17. Xi'an Walsin Metal Product Co., Ltd. Ltd. Established in June 2008, Xi'an Walsin Metal Product Co. focuses on the
R&D and production of stainless steel plates, including medium thickness
plates of stainless steel or double phase steel featuring acid, erosion, and
high temperature resistance. These products can be customized to customer
needs to provide desirable sizes and specifications, and finishing service is
also available. Address: 9F, Building B, No.1,
Jinye Road, Gaoxin District, Xi'an, Shaanxi Province, 710075, P.R.C. 18. Borrego Solar System Inc. Ltd. The California-based Borrego Solar System is a solar system integration
company providing high performance, low cost solar system planning and
implementation to businesses, government organizations, and schools. Borrego
Solar System has implemented more than 1,000 projects throughout America. Address: 5005 Texas Street,
Suite 400 San Diego, CA 92108 Tel: +1-888- 898-6273 Fax: +1-888- 843-6778 19. Walsin (Nanjing) Development Co., LTD. The company is responsible for real estate development and operation in
Nanjing, including the 18-hectare Taiwan Trade Mart in Hexi New District,
Nanjing City. The total building area in the Taiwan Trade Mart amounts to
approx. one million square meters for office buildings, shopping center and
five-star hotel facilities, and high-class residences. Address: 2No.38, Bashan Road,
Jianye Zone, Nanjing City, Jiangsu Province, P.R.C. Tel: 86-258-7767700 Fax: 86-258-7767711 |
Branch
|
Registered Name: |
Walsin Lihwa Corporation, Taichung Branch Office |
|
Registered Address: |
No.57, Jing 3rd Rd., Wuqi Dist., Taichung City 435, Taiwan (R.O.C.) |
|
Registered No.: |
53661508 |
|
Date of Registration: |
2012-11-28 |
|
Status |
Active |
|
Manager Name |
Hongsheng Xu |
|
Date of Last Annual Return |
2014-1-14 |
Major Shareholders
|
Name |
Subscription Shares |
|
Youlun Jiao |
45,961,773 |
|
Youjun Jiao |
39,508,661 |
|
Youheng Jiao |
58,957,197 |
|
Huiming Zheng |
700,000 |
|
Wenchun Zhang |
514,786 |
|
Wuxiong Hong |
859,316 |
|
Weixin Ma |
244,033 |
|
Wenyuan Zhu |
3,694,218 |
|
Walsin Technology Corp. |
55,065 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Walsin
Technology Corp. |
|
Registered Address: |
24F., No.1, Songzhi Rd., Xinyi Dist., Taipei City 11047, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1970-7-29 |
|
Registration Number: |
19004316 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 8,000,000,000 (USD 264,000,000) (As of 2014.09, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 6,900,633,800 (USD 228,410,979) |
|
Legal Representatives: |
Youheng Jiao |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-7-1 |
Core Management
|
1 |
||
|
Name |
Youlun Jiao |
|
|
Position |
Chairman of the
Board |
|
|
2 |
||
|
Name |
Youjun Jiao |
|
|
Position |
Vice Chairman |
|
|
3 |
||
|
Name |
Youheng Jiao |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Richang Yang |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Huiming Zheng |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Wenchun Zhang |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Wuxiong Hong |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Weixin Ma |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Mingling Xue |
|
|
Position |
Independent Director
|
|
|
10 |
||
|
Name |
Jinling Du |
|
|
Position |
Independent
Director |
|
|
11 |
||
|
Name |
Xiangzhong Chen |
|
|
Position |
Independent
Director |
|
|
12 |
||
|
Name |
Wenyuan Zhu |
|
|
Position |
Supervisor |
|
|
13 |
||
|
Name |
Youyi Zhu |
|
|
Position |
Supervisor |
|
|
14 |
||
|
Name |
Yingshi Xu |
|
|
Position |
Supervisor |
|
|
15 |
||
|
Name |
Youlun Jiao |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2005-5-31 |
|
|
16 |
||
|
Name |
Wenchun Zhang |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2002-6-10 |
|
|
17 |
||
|
Name |
Youhui Jiao |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2003-5-15 |
|
|
18 |
||
|
Name |
Zhenqiang Chen |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2010-5-1 |
|
|
19 |
||
|
Name |
Tianrong Chen |
|
|
Position |
Manager |
|
|
Date of Appointment |
2012-8-28 |
|
|
20 |
||
|
Name |
Jinren Lv |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2014-8-13 |
|
|
21 |
||
|
Name |
Dongben Lin |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2010-5-1 |
|
|
22 |
||
|
Name |
Zhicheng Liao |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2014-8-13 |
|
|
23 |
||
|
Name |
Wenhu Pan |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2010-5-1 |
|
|
24 |
||
|
Name |
Ruilong Chen |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2010-7-1 |
|
|
25 |
||
|
Name |
Huiming Zheng |
|
|
Position |
Manager |
|
|
Date of
Appointment |
2011-4-28 |
|
Personnel Structure
|
Total Employees |
About 6,500 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
25F, No.1, Songzhi Rd., Xinyi District, Taipei 11047, Taiwan |
Production Information
l
Subject is engaged in manufacturing of electrical components, steel products, motech
solar and etc.
l
Subject has about 20 factories in Yang Mei, Yen
Shui, Hsin Chuang, Shanghai, Hangzhou, Jiangyin, Nanjing, Changshu, Dong Guan,
Yantai, Xian, ChangZhou, Indonesia, and Malaysia for production.
l
It is introduced that subject’s annual capacity of
copper is about 650,000 tons.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
H701010 |
Developing, renting and sales of residence and
building. |
|
E601010 |
Installing of
electrical appliances. |
|
E701011 |
Project of telecommunication. |
|
E701030 |
Installing project of radio-frequency equipment
under telecommunication regulation. |
|
ZZ99999 |
Besides licensed business, all other business items
those are not banned or restricted. |
l
It is introduced that subject purchases its raw
materials and etc both at home and abroad.
l
Subject is engaged in sale of electrical components, steel products, motech
solar and etc.
l
It is introduced that subject’s
business was divided into 4 parts, the power wire and cable business produces
copper as well as communication and power cables, the specialty steel business
manufactures billets and slabs, wire rods, straight bars, seamless pipes and
tubes, the green photonics business focuses on green energy, LED, and solar
power, pursuing R&D and technology independence to develop new generation,
alternative lighting sources and products, and the real estate business targets
the business opportunities resulting from the Economic Cooperation Framework
Agreement signed between Mainland China and Taiwan.
l
Subject’s sales regions include Asia, Europe and
America, etc.
l
Subject’s major customers are manufacturers of
electrical and electronic products, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials and etc |
|
Payment Terms |
T/T, cash and etc |
2.
Import
|
Products |
Raw materials and etc |
|
Payment Terms |
T/T, L/C and etc |
Sales
1.
Domestic Markets
|
Product |
Electrical components, steel products, motech solar and etc. |
|
Selling Terms |
T/T, cash and etc |
2.
Export
|
Product |
Electrical components, steel products, motech solar and etc. |
|
Selling Terms |
T/T, L/C and etc |
Unit: NTD/000
|
|
|
|
|
|
2013-12-31 |
2012-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash
equivalents |
|
|
|
Total cash and
cash equivalents |
7,556,082 |
6,060,115 |
|
Current
financial assets at fair value through profit or loss |
|
|
|
Total current
financial assets at fair value through profit or loss |
55,430 |
50,191 |
|
Current
available-for-sale financial assets |
|
|
|
Current
available-for-sale financial assets, net |
0 |
4,413 |
|
Notes
receivable, net |
|
|
|
Notes
receivable, net |
7,943,404 |
5,407,147 |
|
Accounts
receivable, net |
|
|
|
Accounts
receivable |
9,434,396 |
10,714,589 |
|
Lease payments
receivable |
69,379 |
55,590 |
|
Accounts
receivable, net |
9,503,775 |
10,770,179 |
|
Other
receivables |
|
|
|
Other
receivables, net |
796,544 |
503,293 |
|
Inventories |
|
|
|
Total
inventories |
21,061,176 |
20,744,591 |
|
Prepayments |
|
|
|
Prepaid rents |
32,150 |
30,379 |
|
Total
prepayments |
32,150 |
30,379 |
|
Non-current
assets classified as held for sale, net |
|
|
|
Non-current
assets classified as held for sale, net |
3,955,006 |
33,676 |
|
Other current
assets |
|
|
|
Other current
financial assets |
797,957 |
649,281 |
|
Other current
assets, others |
1,164,719 |
1,691,766 |
|
Total other
current assets |
1,962,676 |
2,341,047 |
|
Total current
assets |
52,866,243 |
45,945,031 |
|
Non-current
assets |
|
|
|
Non-current
financial assets at fair value through profit or loss |
|
|
|
Total
non-current financial assets at fair value through profit or loss |
0 |
0 |
|
Non-current
available-for-sale financial assets |
|
|
|
Non-current
available-for-sale financial assets, net |
3,212,430 |
1,265,444 |
|
Held-to-maturity non-current financial assets |
|
|
|
Non-current held-to-maturity
financial assets, net |
0 |
0 |
|
Derivative
non-current financial assets for hedging |
0 |
0 |
|
Non-current
financial assets at cost |
|
|
|
Non-current
financial assets at cost, net |
1,396,821 |
1,548,538 |
|
Investments
accounted for using equity method |
|
|
|
Investments
accounted for using equity method, net |
16,894,103 |
17,131,250 |
|
Property, plant
and equipment |
|
|
|
Total property,
plant and equipment |
21,635,479 |
25,844,974 |
|
Investment
property, net |
|
|
|
Investment
property, net |
10,952,192 |
10,835,517 |
|
Intangible
assets |
|
|
|
Total
intangible assets |
199,178 |
191,401 |
|
Deferred tax
assets |
1,471,593 |
1,133,781 |
|
Other
non-current assets |
|
|
|
Guarantee
deposits paid |
325,085 |
417,041 |
|
Long-term notes
and accounts receivable |
|
|
|
Long-term notes
and accounts receivable, net |
2,653,354 |
1,905,899 |
|
Non-current prepayments
for investments |
0 |
0 |
|
Long-term
prepaid rents |
1,194,362 |
1,536,079 |
|
Other
non-current assets, others |
|
|
|
Total other
non-current assets, others |
607,501 |
867,374 |
|
Total other
non-current assets |
4,780,302 |
4,726,393 |
|
Total
non-current assets |
60,542,098 |
62,677,298 |
|
Total assets |
113,408,341 |
108,622,329 |
|
Total assets
(USD) |
3,753,816,087 |
3,595,399,090 |
|
Liabilities |
|
|
|
Current
liabilities |
|
|
|
Short-term
borrowings |
|
|
|
Total
short-term borrowings |
9,614,797 |
11,772,817 |
|
Short-term
notes and bills payable |
|
|
|
Total
short-term notes and bills payable |
0 |
95,956 |
|
Current
financial liabilities at fair value through profit or loss |
|
|
|
Total current
financial liabilities at fair value through profit or loss |
0 |
4,529 |
|
Current
derivative financial liabilities for hedging |
0 |
287 |
|
Notes payable |
|
|
|
Total notes
payable |
709,311 |
907,770 |
|
Accounts
payable |
|
|
|
Total accounts
payable |
6,103,919 |
5,037,441 |
|
Other payables |
|
|
|
Other payables,
others |
3,373,315 |
3,829,810 |
|
Total other
payables |
3,373,315 |
3,829,810 |
|
Current tax
liabilities |
173,230 |
923,755 |
|
Liabilities
related to non-current assets classified as held for sale |
952,803 |
0 |
|
Other current
liabilities |
|
|
|
Advance
receipts |
|
|
|
Advance real
estate receipts |
4,694,783 |
0 |
|
Total advance
receipts |
4,694,783 |
0 |
|
Long-term
liabilities, current portion |
|
|
|
Total long-term
liabilities, current portion |
9,068,283 |
126,174 |
|
Other current liabilities,
others |
1,172,828 |
1,233,362 |
|
Total other
current liabilities |
14,935,894 |
1,359,536 |
|
Total current
liabilities |
35,863,269 |
23,931,901 |
|
Non-current
liabilities |
|
|
|
Long-term
borrowings |
|
|
|
Total long-term
borrowings |
12,103,582 |
19,589,042 |
|
Deferred tax
liabilities |
|
|
|
Total deferred
tax liabilities |
356,242 |
320,538 |
|
Other
non-current liabilities |
|
|
|
Long-term notes
and accounts payable |
|
|
|
Total long-term
notes and accounts payable |
70,474 |
74,574 |
|
Accrued pension
liabilities |
1,222,346 |
1,355,380 |
|
Other
non-current liabilities, others |
1,595,151 |
1,483,996 |
|
Total other
non-current liabilities |
2,887,971 |
2,913,950 |
|
Total
non-current liabilities |
15,347,795 |
22,823,530 |
|
Total
liabilities |
51,211,064 |
46,755,431 |
|
Equity |
|
|
|
Equity
attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
35,760,002 |
36,160,002 |
|
Total capital
stock |
35,760,002 |
36,160,002 |
|
Capital surplus |
|
|
|
Total capital
surplus |
15,629,054 |
15,742,724 |
|
Retained
earnings |
|
|
|
Legal reserve |
2,438,101 |
5,424,527 |
|
Special reserve |
3,507,455 |
1,136,328 |
|
Unappropriated
retained earnings (accumulated deficit) |
|
|
|
Total
unappropriated retained earnings (accumulated deficit) |
1,813,125 |
3,856,576 |
|
Total retained
earnings |
7,758,681 |
10,417,431 |
|
Other equity
interest |
|
|
|
Exchange
differences on translation of foreign financial statements |
|
|
|
Total exchange
differences on translation of foreign financial statements |
317,266 |
-1,478,713 |
|
Unrealized
gains (losses) on available-for-sale financial assets |
|
|
|
Total
unrealized gains (losses) on available-for-sale financial assets |
506,269 |
-2,136,988 |
|
Gains (losses)
on effective portion of cash flow hedges |
|
|
|
Total gains
(losses) on effective portion of cash flow hedges |
0 |
-287 |
|
Total other
equity interest |
823,535 |
-3,615,988 |
|
Treasury shares |
0 |
1,055,961 |
|
Total equity
attributable to owners of parent |
59,971,272 |
57,648,208 |
|
Non-controlling
interests |
2,226,005 |
4,218,690 |
|
Total equity |
62,197,277 |
61,866,898 |
|
Total
equity(USD) |
2,058,729,869 |
2,047,794,324 |
|
Equivalent
issue shares of advance receipts for ordinary share |
0 |
0 |
|
Number of
shares in entity held by entity and by its subsidiaries |
0 |
102,187,289 |
(As of 2014.09, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
|
2013 |
2012 |
|
Operating revenue |
|
|
|
Total operating
revenue |
148,634,957 |
157,463,051 |
|
Total operating
revenue (USD) |
4,919,817,077 |
5,212,026,988 |
|
Operating costs |
|
|
|
Total operating
costs |
144,003,799 |
149,923,971 |
|
Gross profit
(loss) from operations |
4,631,158 |
7,539,080 |
|
Gross profit
(loss) from operations |
4,631,158 |
7,539,080 |
|
Operating
expenses |
|
|
|
Selling
expenses |
|
|
|
Total selling
expenses |
1,807,680 |
1,800,250 |
|
Administrative
expenses |
|
|
|
Total
administrative expenses |
2,571,429 |
3,005,104 |
|
Research and
development expenses |
|
|
|
Total research
and development expenses |
206,852 |
450,895 |
|
Total operating
expenses |
4,585,961 |
5,256,249 |
|
Net operating
income (loss) |
45,197 |
2,282,831 |
|
Non-operating
income and expenses |
|
|
|
Other income |
|
|
|
Interest income |
|
|
|
Total interest
income |
408,334 |
459,489 |
|
Dividend income |
32,835 |
55,353 |
|
Other income,
others |
743,276 |
221,810 |
|
Total other
income |
1,184,445 |
736,652 |
|
Other gains and
losses |
|
|
|
Gains on
disposals of property, plant and equipment |
507,196 |
11,226 |
|
Foreign
exchange gains |
598,678 |
149,787 |
|
Gains on
financial assets (liabilities) at fair value through profit or loss |
17,029 |
88,661 |
|
Miscellaneous
disbursements |
669,230 |
185,616 |
|
Losses on
disposals of investments |
595,820 |
730,837 |
|
Impairment loss |
|
|
|
Total
impairment loss |
2,538,030 |
2,669,437 |
|
Other gains and
losses, net |
-2,680,177 |
-3,336,216 |
|
Finance costs |
|
|
|
Interest
expense |
614,601 |
617,659 |
|
Finance costs,
net |
614,601 |
617,659 |
|
Share of profit
(loss) of associates and joint ventures accounted for using equity method |
|
|
|
Share of profit
(loss) of associates and joint ventures accounted for using equity method,
net |
-251,001 |
-829,130 |
|
Total
non-operating income and expenses |
-2,361,334 |
-4,046,353 |
|
Profit (loss)
from continuing operations before tax |
-2,316,137 |
-1,763,522 |
|
Tax expense
(income) |
|
|
|
Total tax
expense (income) |
115,285 |
1,361,317 |
|
Profit (loss)
from continuing operations |
-2,431,422 |
-3,124,839 |
|
-2,431,422 |
-3,124,839 |
|
|
Profit
(loss)(USD) |
-80,480,068 |
-103,432,171 |
|
Other
comprehensive income |
|
|
|
Exchange
differences on translation |
1,760,547 |
-1,540,440 |
|
Unrealised
gains (losses) on valuation of available-for-sale financial assets |
2,643,375 |
390,226 |
|
Cash flow
hedges |
287 |
61,717 |
|
Actuarial gains
(losses) on defined benefit plans |
82,406 |
-26,525 |
|
Share of other
comprehensive income of associates and joint ventures accounted for using
equity method |
|
|
|
Total share of
other comprehensive income of associates and joint ventures accounted for
using equity method |
3,350 |
-53,554 |
|
Other
comprehensive income, net |
4,489,965 |
-1,168,576 |
|
Total
comprehensive income |
2,058,543 |
-4,293,415 |
|
Profit (loss),
attributable to: |
|
|
|
Profit (loss),
attributable to owners of parent |
-2,688,696 |
-3,186,541 |
|
Profit (loss),
attributable to non-controlling interests |
257,274 |
61,702 |
|
Comprehensive
income attributable to: |
|
|
|
Comprehensive
income, attributable to owners of parent |
1,836,583 |
-4,302,013 |
|
Comprehensive
income, attributable to non-controlling interests |
221,960 |
8,598 |
|
Basic earnings
per share |
|
|
|
Basic earnings
(loss) per share from continuing operations |
-0.77 |
-0.90 |
|
Total basic
earnings per share |
-0.77 |
-0.90 |
(As of 2014.09, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
|
2013 |
2012 |
|
Cash flows from (used in) operating activities,
indirect method |
|
|
|
Profit (loss)
from continuing operations before tax |
-2,316,137 |
-1,763,522 |
|
Profit (loss)
before tax |
-2,316,137 |
-1,763,522 |
|
Adjustments |
|
|
|
Adjustments to
reconcile profit (loss) |
|
|
|
Depreciation
expense |
2,609,854 |
2,593,034 |
|
Amortization
expense |
110,013 |
104,801 |
|
Provision
(reversal of provision) for bad debt expense |
23,066 |
7,902 |
|
Net loss (gain)
on financial assets or liabilities at fair value through profit or loss |
-17,029 |
-88,661 |
|
Interest
expense |
614,601 |
617,659 |
|
Interest income |
-408,334 |
-459,489 |
|
Dividend income |
-32,835 |
55,353 |
|
Share-based
payments |
6,375 |
0 |
|
Share of loss
(profit) of associates and joint ventures accounted for using equity method |
251,001 |
829,130 |
|
Loss (gain) on
disposal of property, plan and equipment |
-507,196 |
-11,226 |
|
Loss (gain) on
disposal of investments |
-1,050,864 |
433,265 |
|
Loss (gain) on
disposal of investments accounted for using equity method |
1,646,684 |
297,572 |
|
Impairment loss
on financial assets |
538,000 |
1,950,920 |
|
Impairment loss
on non-financial assets |
2,000,030 |
718,517 |
|
Unrealized
foreign exchange loss (gain) |
-318,312 |
-9,117 |
|
Other
adjustments to reconcile profit (loss) |
2,213 |
33,250 |
|
Total
adjustments to reconcile profit (loss) |
5,467,267 |
7,072,910 |
|
Changes in
operating assets and liabilities |
|
|
|
Changes in
operating assets |
|
|
|
Decrease (increase)
in financial assets held for trading |
1,040,561 |
-307,181 |
|
Decrease
(increase) in notes receivable |
-2,536,257 |
2,125,780 |
|
Decrease
(increase) in accounts receivable |
1,243,338 |
-1,751,081 |
|
Decrease (increase)
in other receivable |
-354,684 |
-299,052 |
|
Decrease
(increase) in inventories |
-316,585 |
7,707,390 |
|
Decrease
(increase) in other current assets |
371,329 |
36,215 |
|
Decrease
(increase) in other operating assets |
-165,458 |
-63,537 |
|
Total changes
in operating assets |
-717,756 |
7,448,534 |
|
Changes in
operating liabilities |
|
|
|
Increase
(decrease) in notes payable |
-198,459 |
-32,137 |
|
Increase
(decrease) in accounts payable |
1,066,478 |
-4,487,462 |
|
Increase
(decrease) in other payable |
-374,463 |
1,178,432 |
|
Increase
(decrease) in receipts in advance |
4,694,783 |
-2,931,938 |
|
Increase
(decrease) in other current liabilities |
-60,534 |
-132,072 |
|
Increase (decrease)
in accrued pension liabilities |
-133,034 |
-19,276 |
|
Increase
(decrease) in other operating liabilities |
269,824 |
169,101 |
|
Total changes
in operating liabilities |
5,264,595 |
-6,255,352 |
|
Total changes
in operating assets and liabilities |
4,546,839 |
1,193,182 |
|
Total
adjustments |
10,014,106 |
8,266,092 |
|
Cash inflow
(outflow) generated from operations |
7,697,969 |
6,502,570 |
|
Interest
received |
459,218 |
936,006 |
|
Dividends
received |
84,860 |
123,695 |
|
Interest paid |
-696,885 |
-597,714 |
|
Income taxes
refund (paid) |
-1,362,325 |
-543,475 |
|
Net cash flows
from (used in) operating activities |
6,182,837 |
6,421,082 |
|
Cash flows from
(used in) investing activities |
|
|
|
Proceeds from
disposal of available-for-sale financial assets |
4,878 |
0 |
|
Acquisition of
financial assets at cost |
-95,178 |
-281,312 |
|
Proceeds from
disposal of financial assets at cost |
41,677 |
168,527 |
|
Proceeds from
capital reduction of financial assets at cost |
25,182 |
880 |
|
Acquisition of
investments accounted for using equity method |
-1,809,574 |
-534,780 |
|
Proceeds from
disposal of investments accounted for using equity method |
8,800 |
811,232 |
|
Net cash flow
from acquisition of subsidiaries |
0 |
518,486 |
|
Proceeds from
disposal of subsidiaries |
-1,599,157 |
-13,957 |
|
Proceeds from
capital reduction of investments accounted for using equity method |
0 |
59,110 |
|
Acquisition of
property, plant and equipment |
-2,201,644 |
-6,297,946 |
|
Proceeds from
disposal of property, plant and equipment |
1,150,866 |
285,751 |
|
Decrease in
refundable deposits |
-345,411 |
39,697 |
|
Acquisition of
intangible assets |
-1,386 |
0 |
|
Decrease in
other financial assets |
0 |
1,108,419 |
|
Decrease in
other prepayments |
223,447 |
0 |
|
Other investing
activities |
-42,403 |
-32,312 |
|
Net cash flows
from (used in) investing activities |
-4,639,903 |
-4,168,205 |
|
Cash flows from
(used in) financing activities |
|
|
|
Increase in
short-term loans |
-2,042,129 |
-461,702 |
|
Decrease in
short-term notes and bills payable |
-95,956 |
95,956 |
|
Proceeds from
long-term debt |
1,226,808 |
0 |
|
Repayments of
long-term debt |
0 |
-7,899,649 |
|
Disposal of
ownership interests in subsidiaries (without losing control) |
278,662 |
0 |
|
Change in
non-controlling interests |
-39,949 |
-64,788 |
|
Other financing
activities |
-115,430 |
-2,511 |
|
Net cash flows
from (used in) financing activities |
-787,994 |
-8,332,694 |
|
Effect of
exchange rate changes on cash and cash equivalents |
882,707 |
-799,904 |
|
Net increase
(decrease) in cash and cash equivalents |
1,637,647 |
-6,879,721 |
|
Cash and cash
equivalents at beginning of period |
6,060,115 |
12,939,836 |
|
Cash and cash
equivalents at end of period |
7,697,762 |
6,060,115 |
|
Cash and cash
equivalents reported in the statement of financial position |
7,556,082 |
6,060,115 |
|
Other items
qualifying for cash and cash equivalents under the definition of IAS 7 |
141,680 |
0 |
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
Up to date
of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.