|
Report No. : |
302321 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHINKONG SYNTHETIC FIBERS CORP. |
|
|
|
|
Registered Office : |
6,7 Fl., No. 123, Sec. 2, Nanking E. Rd., Taipei, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
25.04.1967 |
|
|
|
|
Com. Reg. No.: |
7435515 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and
sale of chemical products |
|
|
|
|
No. of Employees : |
2,000 |
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 : |
N 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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: |
8/F., No. 123, Sec. 2, Nanking E. Rd., Taipei, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2507-1251 |
|
Fax Number: |
+886-2-2507-2264 |
|
E-mail: |
|
|
Website: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1967-4-2 with registered number 7435515 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1973-8-31.
Factories
|
1 |
|
|
Name: |
Zhongli Factory |
|
Address: |
No. 223, Sec. 3, Yanping Rd., Guangren Li, Pingzhen Dist., Taoyuan City, Taiwan |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1970-3-1 |
|
Factory Registration Number: |
99623862 |
|
Factory Manager: |
Dongsheng Wu |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2005-1-28 |
|
Major Products: |
115 textile 185 synthetic fiber 184 synthetic resins, plastics and rubber |
|
2 |
|
|
Name: |
Guanyin Factory |
|
Address: |
No. 9, Guojian 3rd Road, 15 Lin, Shulin Li, Guanyin Dist., Taoyuan City, Taiwan |
|
Date of Foundation: |
1992-7-1 |
|
Date of Registration: |
1995-6-7 |
|
Factory Registration Number: |
99622217 |
|
Factory Manager: |
Dongsheng Wu |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2014-10-27 |
|
Major Products: |
185 synthetic fiber 184 synthetic resins, plastics and rubber 111 spinning |
|
3 |
|
|
Name |
Polyester Film Factory |
|
Address: |
Jieshou Road, Taoyuan County, Taiwan, R.O.C. |
Major Related
Company
|
Name |
Hangzhou Huachun Chemical Fiber Co., Ltd. |
|
Address: |
No.766, Xiasha Economic Development Zone, Jianggan District, Hangzhou City, Zhejiang Province, China |
|
Tel: |
+86-571-5675-5777 |
|
Fax: |
+86-571-8684-0900 |
Major Shareholders
|
Name |
Subscription Shares |
|
Shin Kong Development Co., Ltd. |
2,794,213 |
|
Taiwan Shin Kong
Industrial Co., Ltd. (Literal Translation) |
|
|
84,414,691 |
|
|
De Yue Industrial Co., Ltd. (Literal Translation) |
1,200,043 |
|
Jinxian Investment Co., Ltd. (Literal Translation) |
4,885,058 |
|
Min Hao Industrial Co., Ltd. (Literal Translation) |
1,226,456 |
|
Shin Kong Wu Huoshi Culture and Education Foundation |
60,442 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Shin Kong Development Co., Ltd. |
|
Registered
Address: |
6F., No.21, Sec.
3, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1991-7-10 |
|
Registration
Number: |
86155191 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD
69,500,000 (USD 2,175,350) (As of 2015.01, 1
NTD = 0.0313 USD) |
|
Paid-up Capital: |
NTD 69,500,000
(USD 2,175,350) |
|
Legal
Representatives: |
Dongsheng Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2013-4-22 |
|
2 |
|
|
Registered Name: |
Taiwan Shin Kong Industrial Co., Ltd. (Literal
Translation) |
|
Registered
Address: |
6/F., No. 123,
Sec. 2, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1958-1-1 |
|
Registration
Number: |
07127904 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 195,000,000
(USD 6,103,500) (As of 2015.01, 1
NTD = 0.0313 USD) |
|
Paid-up Capital: |
NTD 194,400,000
(USD 6,084,720) |
|
Legal
Representatives: |
Guilan Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2013-7-22 |
|
3 |
|
|
Registered Name: |
De Yue Industrial Co., Ltd. (Literal Translation) |
|
Registered
Address: |
6/F., No. 21, Sec.
3, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1991-4-23 |
|
Registration
Number: |
86031431 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 28,000,000
(USD 876,400) (As of 2015.01, 1 NTD
= 0.0313 USD) |
|
Paid-up Capital: |
NTD 28,000,000
(USD 876,400) |
|
Legal
Representatives: |
Dongsheng Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2013-4-19 |
|
4 |
|
|
Registered Name: |
Jinxian Investment Co., Ltd. (Literal Translation) |
|
Registered
Address: |
7/F., No. 123,
Sec. 2, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1987-5-9 |
|
Registration
Number: |
22553791 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 100,000,000
(USD 3,130,000) (As of 2015.01, 1
NTD = 0.0313 USD) |
|
Paid-up Capital: |
NTD 100,000,000
(USD 3,130,000) |
|
Legal
Representatives: |
Dongxian Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2003-3-31 |
|
5 |
|
|
Registered Name: |
Min Hao Industrial Co., Ltd. (Literal Translation) |
|
Registered
Address: |
10/F., No. 123,
Sec. 2, Nanking E. Rd., Jhongshan District, Taipei, Taiwan, R.O.C. |
|
Date of
Foundation: |
1985-11-5 |
|
Registration
Number: |
01188571 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 150,000,000
(USD 4,695,000) (As of 2015.01, 1
NTD = 0.0313 USD) |
|
Paid-up Capital: |
NTD 150,000,000
(USD 4,695,000) |
|
Legal Representatives: |
Zhendong Chen |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2012-12-28 |
Core Management
Directors
|
1 |
||
|
Name |
Dongsheng Wu |
|
|
Position |
Board Chairman & Manager |
|
|
Appointment Date of Manager |
2007-7-26 |
|
|
2 |
||
|
Name |
Guilan Wu |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Dongming Wu |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Shijun Hong |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Xianzhong He |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Huozao Shi |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Xin-En Wu |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Shunmo Ni |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Rongji Liu |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Xiande Qiu |
|
|
Position |
Independent Director |
|
|
11 |
||
|
Name |
Rongzhen Zeng |
|
|
Position |
Independent Director |
|
|
12 |
||
|
Name |
Yongqin Cai |
|
|
Position |
Independent Director |
|
Personnel Structure
|
Total Employees |
About 2,000 Employees |
|
|
Headquarters |
|
Add |
8/F., No. 123, Sec. 2, Nanking E. Rd., Taipei, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of chemical products, etc.
Subject has three factories in Taiwan for production and the total area is about 444,000 square meters.
It is introduced that subject also has related companies in Mainland China and Thailand for production.
Subject obtained the certifications of ISO 9001:2000, ISO 14001, and ISO 16949.
We obtained subject’s some annual production capacity as follows for reference.
|
Product |
Annual Production Capacity |
|
PET Resin |
888,171 tons |
|
Polyester Filaments |
257,203 tons |
|
Polyester Cotton |
34,493 tons |
|
Engineering Plastic |
100,302 tons |
|
Polyester Film & Sheet |
86,625 tons |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
Spinning industry |
|
C302010 |
Weaving industry |
|
C303010 |
Nonwoven industry |
|
C306010 |
Garment industry |
|
C801100 |
Manufacturing of synthetic resin and plastic |
|
C801120 |
Manufacturing of artificial fiber |
|
C805050 |
Manufacturing of industrial plasthetics |
|
CB01010 |
Manufacturing of machinery |
|
CC01120 |
Manufacturing of data storage media |
|
F501060 |
Restaurant business |
|
F104110 |
Wholesale of textile, garment, shoes, hat, umbrella, and accessories |
|
F204110 |
Retail of textile, garment, shoes, hat, umbrella, and accessories |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil and accessories |
|
F205040 |
Retail of furniture, bedding, kitchen utensil and accessories |
|
F113050 |
Wholesale of computer and office equipment |
|
F213030 |
Retail of computer and office equipment |
|
G202010 |
Parking lot operation |
|
H701040 |
Development of specific area |
|
H701060 |
New town and community development business |
|
I103060 |
Consultant business |
|
I501010 |
Product design |
|
J701020 |
Fairground business |
|
J701040 |
Leisure venues business |
|
J801010 |
Golf course business |
|
J801030 |
Sports and leisure sports industry |
|
J901020 |
Hotel industry |
|
JE01010 |
Leasing business |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted |
The raw materials for production are purchased from both home and abroad and the detail information is as follows for reference.
|
Raw materials |
Major Supplier |
|
Purified Terephthalic Acid |
China American Petrochemical Co., Ltd, Formosa Chemicals & Fibre Corporation, Invista Far Eastern Petrochemicals Ltd., Amoco Corporation |
|
Ethylene Glycol |
China Man-Made Fiber Corporation, Oriental Union Chemical Corp., Nan Ya Plastics Corporation, BASF, DuPont, Tuntex Petrochemical Inc. |
Subject is engaged in sale of chemical products, etc.
Subject’s sales regions include Taiwan, Mainland China, India, Japan, Europe and USA, etc.
Subject’s major types of customers are manufacturers of beverage, garment, 3C product, automobile and electric appliance, etc.
Major products
|
Type |
Product |
|
Chemical Fiber |
Polyester Staple Fibers Polyester Filament Yarn Industrial Yarn Pre-Oriented Yarn |
|
Plastic |
PET Bottles Engineering Plastics Polyester Film A-PET Sheet PET Grade Resin |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T, Credit
Sales, etc |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Chemical products |
|
Selling Terms |
Cash, T/T, Credit
Sales, etc |
Export
|
Product |
Chemical products |
|
Selling Terms |
L/C, T/T, etc. |
Unit: NTD/000
|
Consolidated |
2014-9-30 |
2013-9-30 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
5,542,606 |
6,398,891 |
|
Due from the central bank and call loans to banks |
12,870,055 |
12,495,226 |
|
Current financial assets at fair value through profit or loss |
1,114,785 |
1,456,550 |
|
Current available-for-sale financial assets |
3,068,898 |
3,324,108 |
|
Securities purchased under resell agreements |
6,491,333 |
4,462,755 |
|
Other current financial assets |
1,615,580 |
523,815 |
|
Receivables, net |
|
|
|
Notes receivable |
388,783 |
307,322 |
|
Accounts receivable |
6,033,933 |
5,893,501 |
|
Other receivables |
541,799 |
658,409 |
|
Receivables, net |
6,964,515 |
6,859,232 |
|
Receivables due from related parties |
169,726 |
128,815 |
|
Margin loans receivable |
4,261,458 |
3,505,552 |
|
Customer margin account |
360,167 |
227,499 |
|
Inventories |
5,872,128 |
5,627,597 |
|
Prepayments |
565,665 |
460,875 |
|
Other current assets |
485,870 |
1,470,940 |
|
Discounts and loans, net |
40,967,251 |
36,562,001 |
|
Total current assets |
90,350,037 |
83,503,856 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
6,542,293 |
6,270,702 |
|
Non-current held-to-maturity financial assets |
3,804,601 |
2,700,996 |
|
Non-current financial assets at cost |
274,772 |
201,158 |
|
Investments accounted for using equity method |
450,567 |
283,285 |
|
Property, plant and equipment, net |
|
|
|
Land |
6,144,163 |
6,148,386 |
|
Buildings and structures |
4,007,458 |
3,972,125 |
|
Computer and machinery equipment |
9,087,887 |
9,450,880 |
|
Transportation and communication equipment |
60,893 |
46,416 |
|
Miscellaneous equipments |
159,448 |
116,362 |
|
Leased assets improvements |
21,462 |
26,348 |
|
Other facilities |
36,459 |
43,721 |
|
Construction in process and prepayments for buildings and land |
447,359 |
539,105 |
|
Property, plant and equipment, net |
19,965,129 |
20,343,343 |
|
Investment property, net |
|
|
|
Investment property, land |
1,940,152 |
3,551,051 |
|
Investment property, buildings |
294,384 |
479,871 |
|
Investment property, net |
2,234,536 |
4,030,922 |
|
Intangible assets, net |
|
|
|
Goodwill |
599,555 |
575,122 |
|
Other intangible assets |
23,025 |
30,294 |
|
Intangible assets, net |
622,580 |
605,416 |
|
Deferred income tax assets, net |
462,339 |
360,609 |
|
Other assets |
|
|
|
Operation guarantee deposits and settlement fund |
301,904 |
301,560 |
|
Other assets - others |
2,323,465 |
581,662 |
|
Total other assets |
2,625,369 |
883,222 |
|
Total non-current assets |
36,982,186 |
35,679,653 |
|
Total assets |
127,332,223 |
119,183,509 |
|
Liabilities and equities |
|
|
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
5,014,667 |
5,076,120 |
|
Short-term notes bills payable |
3,243,434 |
3,018,706 |
|
Notes and bonds issued under repurchase agreement |
3,388,626 |
2,576,922 |
|
Current financial liabilities at fair value through profit or loss |
49,102 |
12,182 |
|
Deposits from the central bank and banks |
4,101,755 |
5,406,040 |
|
Payables |
|
|
|
Notes payable |
319,988 |
91,354 |
|
Accounts payable |
3,391,842 |
3,370,234 |
|
Other payables |
1,527,378 |
2,153,429 |
|
Total payables |
5,239,208 |
5,615,017 |
|
Deposits received from securities borrowers |
545,274 |
596,299 |
|
Guaranteed price deposits received from securities borrowers |
598,367 |
655,937 |
|
Futures traders' equity |
359,565 |
227,351 |
|
Current tax liabilities |
121,636 |
221,153 |
|
Long-term liabilities, current portion |
1,282,051 |
1,765,385 |
|
Other current liabilities |
1,100,467 |
991,969 |
|
Deposits and remittances |
57,944,908 |
49,521,554 |
|
|
82,989,060 |
75,684,635 |
|
Non-current liabilities |
|
|
|
Bonds payable |
951,541 |
937,482 |
|
Long-term borrowings |
6,270,513 |
7,309,564 |
|
Provisions |
|
|
|
Provisions for employee benefits |
1,391,202 |
1,456,425 |
|
Other provisions |
|
|
|
Total other provisions |
0 |
0 |
|
Total provisions |
1,391,202 |
1,456,425 |
|
Guarantee deposits received |
49,152 |
62,246 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
1,125,815 |
940,130 |
|
Other liabilities |
86,423 |
108,348 |
|
Total non-current liabilities |
9,874,646 |
10,814,195 |
|
Total liabilities |
92,863,706 |
86,498,830 |
|
Equity |
|
|
|
Equities attributable to owners of parent |
|
|
|
Capital |
|
|
|
Ordinary share |
17,157,970 |
17,604,840 |
|
Total capital |
17,157,970 |
17,604,840 |
|
Capital surplus |
|
|
|
Capital surplus, additional paid-in capital |
|
|
|
Capital surplus, additional paid-in capital arising from ordinary share |
281,577 |
288,910 |
|
Capital surplus, additional paid-in capital arising from bond conversion |
163,223 |
163,223 |
|
Total capital surplus, additional paid-in capital |
444,800 |
452,133 |
|
Capital surplus, treasury share transactions |
280,139 |
288,789 |
|
Capital Surplus, changes in ownership interests in subsidiaries |
392,897 |
0 |
|
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method |
387,823 |
506,687 |
|
Total capital surplus |
1,505,659 |
1,247,609 |
|
Retained earnings |
|
|
|
Legal reserve |
700,160 |
584,934 |
|
Special reserve |
2,723,600 |
2,723,600 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Accumulated profit and loss |
1,692,279 |
1,239,664 |
|
Current profit and loss |
1,244,118 |
1,002,342 |
|
Total unappropriated retained earnings (accumulated deficit) |
2,936,397 |
2,242,006 |
|
Total retained earnings |
6,360,157 |
5,550,540 |
|
Other equity interest |
|
|
|
Exchange differences on translation of foreign financial statements |
49,141 |
-65,220 |
|
Unrealized gains (losses) on available-for-sale financial assets |
1,463,971 |
1,083,011 |
|
Other equity, others |
|
|
|
Total other equity, others |
0 |
0 |
|
Total other equity interest |
1,513,112 |
1,017,791 |
|
Treasury shares |
620,601 |
355,009 |
|
Total equities attributable to owners of parent |
25,916,297 |
25,065,771 |
|
Non-controlling interests |
8,552,220 |
7,618,908 |
|
Total equity |
34,468,517 |
32,684,679 |
|
Number of share capital awaiting retirement |
0 |
0 |
|
Equivalent issue shares of advance receipts for ordinary share (unit: share) |
0 |
0 |
|
Number of shares in entity held by entity and by its subsidiaries (unit: share) |
61,194,487 |
37,163,487 |
Unit: NTD/000
|
Consolidated |
2014-1-1~2014-9-30 |
2013-1-1~2013-9-30 |
|
Revenues |
|
|
|
Interest income |
1,068,001 |
942,599 |
|
Fee income |
400,649 |
305,818 |
|
Share of profit of associates and joint ventures accounted for using equity method |
8,003 |
1,168 |
|
Gains on financial assets or liabilities at fair value through profit or loss |
0 |
21,569 |
|
Realized gains on available-for-sale financial assets |
68,637 |
0 |
|
Net sales |
|
|
|
Net sales |
28,935,844 |
30,916,232 |
|
Rental revenue |
25,284 |
61,663 |
|
Gains on disposals of investments |
3,030 |
60,259 |
|
Gain on disposal of property, plant and equipment |
0 |
33,296 |
|
Gains on investment property |
2,196,539 |
0 |
|
Foreign exchange gains |
39,342 |
46,082 |
|
Other income |
339,152 |
289,835 |
|
Total revenue |
33,084,481 |
32,678,521 |
|
Expenses |
|
|
|
Interest expense |
562,814 |
566,096 |
|
Losses on financial assets or liabilities at fair value through profit or loss |
3,911 |
0 |
|
Cost of sales |
26,483,103 |
28,271,013 |
|
Cost of rental sales |
2,596 |
12,255 |
|
Operating expenses |
|
|
|
Selling expenses |
579,314 |
616,173 |
|
General and administrative expenses |
1,468,441 |
1,184,166 |
|
Research development expense |
193,544 |
144,592 |
|
Total operating expenses |
2,241,299 |
1,944,931 |
|
Loss on sale of investments |
0 |
0 |
|
Loss on disposal of property, plant and equipment |
6,024 |
0 |
|
Loss on investment property |
1,808,581 |
0 |
|
Impairment losses |
0 |
0 |
|
Foreign exchange losses |
0 |
0 |
|
Other expenses |
142,030 |
152,620 |
|
Total expenses |
31,250,358 |
30,946,915 |
|
Profit (loss) from continuing operations before income tax |
1,834,123 |
1,731,606 |
|
Tax expense (income) |
280,839 |
323,453 |
|
Profit (loss) from continuing operations, net of tax |
1,553,284 |
1,408,153 |
|
Profit (loss) |
1,553,284 |
1,408,153 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
51,641 |
78,383 |
|
Unrealised gains (losses) on valuation of available-for-sale financial assets |
-98,537 |
589,886 |
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method |
66,697 |
346,416 |
|
Other comprehensive income, net |
19,801 |
1,014,685 |
|
Total comprehensive income |
1,573,085 |
2,422,838 |
|
Profit (loss), attributable to |
|
|
|
Profit (loss), attributable to owners of parent |
1,244,118 |
1,002,342 |
|
Profit (loss), attributable to non-controlling interests |
309,166 |
405,811 |
|
Comprehensive income attributable to |
|
|
|
Comprehensive income, attributable to owners of parent |
1,310,474 |
2,017,263 |
|
Comprehensive income, attributable to non-controlling interests |
262,611 |
405,575 |
|
Basic earnings per share |
|
|
|
Total basic earnings per share |
0.74 |
0.58 |
|
Diluted earnings per share |
|
|
|
Total diluted earnings per share |
0.74 |
0.58 |
Unit: NTD/000
|
Consolidated |
2014-1-1~2014-9-30 |
2013-1-1~2013-9-30 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
1,834,123 |
1,731,606 |
|
Profit (loss) before tax |
1,834,123 |
1,731,606 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
1,227,594 |
1,265,849 |
|
Amortization expense |
17,012 |
31,338 |
|
Net loss (gain) on financial assets or liabilities at fair value through profit or loss |
3,911 |
-21,569 |
|
Interest expense |
562,814 |
566,096 |
|
Interest income |
-1,068,001 |
-942,599 |
|
Share of loss (profit) of associates and joint ventures accounted for using equity method |
-8,003 |
-1,168 |
|
Loss (gain) on disposal of property, plan and equipment |
6,024 |
-33,296 |
|
Loss (gain) on disposal of investment properties |
-387,958 |
0 |
|
Loss (gain) on disposal of investments |
-71,667 |
-60,259 |
|
Unrealized foreign exchange loss (gain) |
60,708 |
-39,392 |
|
Total adjustments to reconcile profit (loss) |
342,434 |
765,000 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in due from the central bank and call loans to banks |
287,685 |
373,909 |
|
Decrease (increase) in financial assets at fair value through profit or loss |
-143,368 |
-380,363 |
|
Decrease (increase) in receivables |
592,925 |
-17,840 |
|
Decrease (increase) in margin loans receivable |
-510,520 |
-364,754 |
|
Decrease (increase) in balance of the construction-in-progress account exceeds the balance of billings on construction-in-progress |
-81,690 |
31,582 |
|
Decrease (increase) in inventories |
-986,236 |
44,484 |
|
Decrease (increase) in other prepayments |
-1,434,834 |
-240,654 |
|
Decrease (increase) in other current assets |
-330,976 |
-456,503 |
|
Decrease (increase) in discounts and loans |
-3,248,277 |
-1,034,293 |
|
Decrease (increase) in deferred debits |
0 |
-32,665 |
|
Total changes in operating assets |
-5,855,291 |
-2,077,097 |
|
Changes in operating liabilities |
|
|
|
Decrease (increase) in deposits from the central bank and banks |
-968,045 |
1,856,040 |
|
Increase (decrease) in payable |
-872,343 |
-30,182 |
|
Increase (decrease) in deposits received from securities borrowers |
-190,118 |
-37,134 |
|
Increase (decrease) in guaranteed price deposits received from securities borrowers |
-213,466 |
-38,314 |
|
Increase (decrease) in futures traders' equity |
81,351 |
-31,450 |
|
Increase (decrease) in other current liabilities |
-674 |
394,232 |
|
Increase (decrease) in deposits and remittances |
3,627,326 |
1,959,825 |
|
Increase (decrease) in provisions for employee benefits |
-44,249 |
-31,272 |
|
Total changes in operating liabilities |
1,419,782 |
4,041,745 |
|
Total changes in operating assets and liabilities |
-4,435,509 |
1,964,648 |
|
Total adjustments |
-4,093,075 |
2,729,648 |
|
Cash inflow (outflow) generated from operations |
-2,258,952 |
4,461,254 |
|
Interest received |
1,063,142 |
942,626 |
|
Interest paid |
-547,480 |
-553,236 |
|
Income taxes refund (paid) |
-262,673 |
-334,226 |
|
Net cash flows from (used in) operating activities |
-2,005,963 |
4,516,418 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
-1,938,964 |
-942,417 |
|
Proceeds from disposal of available-for-sale financial assets |
1,915,225 |
1,239,514 |
|
Acquisition of held-to-maturity financial assets |
-1,256,683 |
-722,396 |
|
Proceeds from disposal of held-to-maturity financial assets |
375,000 |
650,000 |
|
Proceeds from capital reduction of financial assets at cost |
29,395 |
17,555 |
|
Acquisition of property, plant and equipment |
-733,380 |
-730,757 |
|
Proceeds from disposal of property, plant and equipment |
815 |
87,331 |
|
Decrease in operation guarantee |
-344 |
-2,207 |
|
Increase in refundable deposits |
0 |
-1,000,000 |
|
Decrease in refundable deposits |
72,134 |
1,381 |
|
Increase in other receivables |
-8,440 |
0 |
|
Decrease in other receivables |
0 |
14,702 |
|
Acquisition of investment properties |
-80 |
0 |
|
Proceeds from disposal of investment properties |
2,168,056 |
0 |
|
Increase in securities purchased under resell agreements |
0 |
-3,538,111 |
|
Decrease in securities purchased under resell agreements |
408,802 |
0 |
|
Increase in other financial assets |
-112,892 |
-64,445 |
|
Increase in other assets |
-491,250 |
0 |
|
Decrease in other assets |
0 |
163,035 |
|
Net cash flows from (used in) investing activities |
427,394 |
-4,826,815 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
564,994 |
0 |
|
Decrease in short-term loans |
0 |
-230,060 |
|
Increase in short-term notes and bills payable |
1,294,773 |
772,213 |
|
Proceeds from issuing bonds |
0 |
997,850 |
|
Increase in other borrowings |
0 |
269,295 |
|
Decrease in other borrowings |
-771,038 |
0 |
|
Increase in notes and bonds issued under repurchase agreement |
631,289 |
112,607 |
|
Increase in guarantee deposits received |
0 |
4,565 |
|
Decrease in guarantee deposits received |
-11,518 |
0 |
|
Decrease in other non-current liabilities |
-6,637 |
0 |
|
Cash dividends paid |
-593,214 |
0 |
|
Payments to acquire treasury shares |
-728,446 |
0 |
|
Acquisition of ownership interests in subsidiaries |
-18,392 |
-4,965 |
|
Change in non-controlling interests |
-2,452 |
535,390 |
|
Net cash flows from (used in) financing activities |
359,359 |
2,456,895 |
|
Effect of exchange rate changes on cash and cash equivalents |
4,534 |
36,367 |
|
Net increase (decrease) in cash and cash equivalents |
-1,214,676 |
2,182,865 |
|
Cash and cash equivalents at beginning of period |
6,757,282 |
4,216,026 |
|
Cash and cash equivalents at end of period |
5,542,606 |
6,398,891 |
|
Cash and cash equivalents reported in the statement of financial position |
5,542,606 |
6,398,891 |
Note: Subject didn’t
submit its individual financial information; we obtained its consolidated
financials as above for reference.
The above financial
figures are based on the IFRSs Accounting System.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
089317 |
|
Debtor Name: |
Shinkong Synthetic
Fibers Corporation |
|
Document Number: |
09505188060 |
|
Date of
Registration: |
2006-11-29 |
|
Date of
Alteration: |
2008-9-17 |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
092831 |
|
Debtor Name: |
Shinkong Synthetic
Fibers Corporation |
|
Document Number: |
09605189740 |
|
Date of
Registration: |
2007-12-10 |
|
Date of
Alteration: |
2009-3-26 |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
034145 |
|
Debtor Name: |
Shinkong Synthetic
Fibers Corporation |
|
Document Number: |
311532 |
|
Date of
Registration: |
1989-8-31 |
|
Date of
Alteration: |
1989-8-31 |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
092839 |
|
Debtor Name: |
Shinkong Synthetic
Fibers Corporation |
|
Document Number: |
09605189780 |
|
Date of
Registration: |
2007-12-11 |
|
Date of
Alteration: |
2009-9-4 |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
030236 |
|
Debtor Name: |
Shinkong Synthetic
Fibers Corporation |
|
Document Number: |
198014 |
|
Date of
Registration: |
1988-4-13 |
|
Date of
Alteration: |
1988-4-13 |
Lawsuit
|
Trial Number: |
2014, Beixiao,2255 |
|
Date of Trial: |
2014-10-28 |
|
Reason: |
Pay for bonds |
|
Claimant: |
Zhongping Xu |
|
Defendant: |
Shinkong Synthetic
Fibers Corporation Wanhua Enterprise
Co., Ltd. (Literal Translation) |
Interview Details
|
Name |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.94.10 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.