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Report No. : |
325983 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
GCL PHOTOVOLTAIC TECHNOLOGY CO., LTD. |
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Registered Office : |
20F.-2, No.8, Ziqiang S. Rd., Zhubei City, Hsinchu County 302, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
10.04.2014 |
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Com. Reg. No.: |
54801886 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Silicon Products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
However, negotiations on follow-on components of ECFA, including an agreement
on trade in services, deals on trade in goods, and dispute resolution—have
stalled. In early 2014, the government bowed to public demand for a new law
governing the oversight of cross-Strait agreements, before any additional deals
with China are implemented; the legislature has yet to vote on such
legislation, leaving the future of ECFA up in the air as President MA enters
his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater
participation in East Asia’s free trade networks. 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 expected to account for 20% of the island's total population by 2025. The
island runs a trade surplus, largely because of its surplus with China, and its
foreign reserves are the world's fourth largest, behind those of China, Japan,
and Russia. 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, the
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
has helped Taiwan develop into a local RMB hub. Closer economic links with the
mainland bring greater opportunities for the Taiwan economy, but also pose new
challenges as the island becomes more economically dependent on China at a time
when political differences remain unresolved. During 2014, the press paid
increasing attention to domestic economic issues while pushing aside the
debates over trade liberalization that were a hallmark of MA’s tenure. The
media focused on the divide between Taiwan’s “haves” and “have nots,” providing
extensive coverage of public frustration with stagnant wages, skyrocketing
housing prices, and the difficulty of finding entry-level jobs.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
20F.-2, No.8,
Ziqiang S. Rd., Zhubei City, Hsinchu County 302, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-3-667-5799 |
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Fax Number: |
Notes: The exact name and address are as above.
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Registered Name: |
GCL Photovoltaic
Technology Co., Ltd. |
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Registered Address: |
20F.-2, No.8, Ziqiang S. Rd., Zhubei City,
Hsinchu County 302, Taiwan (R.O.C.) |
|
2014-4-10 |
|
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Registration Number: |
54801886 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 48,000,000 (USD 1,536,000) (As of 2015.06, 1 NTD = 0.032 USD) |
|
Legal Representatives: |
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Principal Activities: |
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Staff: |
|
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Listed at Stock Exchange: |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated
on 2014-4-10 with registered number 54801886
as Private Limited Liability Company in Taiwan.
Ultimate Parent
Company
|
Name |
GCL-Poly Energy Holdings Limited. |
|
Address |
Unt 1703B-1706, Lvl 17, Intrntnl Cmrc Ctr 1 Austin Road West Kowloon
Hong Kong |
|
Staff: |
About 18,326 Employees |
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Listed at Stock Exchange: |
Yes; stock symbol: HKG:3800 |
|
Tel |
+852-2526-8368 |
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Fax |
+852-2536-7638 |
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Description: |
The company is engaged in the manufacturing of polysilicon and wafers
for the solar industry. |
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Name |
Suzhou GCL Photovoltaic Technology Co., Ltd. |
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Registered Address |
1901, Block 24, Times Square, Huachi Street,
Suzhou Industrial Park, Jiangsu Province, The Mainland Of China |
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Date of Registration |
2010-3-23 |
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Registration Number |
320000400004133 |
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Registered Capital |
CNY 2,600,000,000 |
|
Legal Representative |
Hua Shu |
|
Legal Form |
Limited Liability Company |
Major Shareholders
|
Name |
Subscription Amount |
|
Suzhou GCL Photovoltaic Technology Co., Ltd. |
48,000,000 |
Core Management
Directors
|
Name |
Hua Shu |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
20F.-2, No.8, Ziqiang S. Rd., Zhubei City, Hsinchu County 302, Taiwan
(R.O.C.) |
Production Information
Subject is a trader of silicon
products and etc without any production activities.
It is introduced that subject’s group has factories in the mainland of
China for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F107200 |
Wholesales of chemicals. (For licensed business under the standard classification
of industries in Republic of China 4621 Wholesales of chemicals.) |
|
F107990 |
Wholesales of other chemical products. (For licensed business under
the standard classification of industries in Republic of China 4621
Wholesales of chemicals.) |
|
F113010 |
Wholesales of machinery. (For licensed business under the standard
classification of industries in Republic of China 4643 Wholesales of
machinery for agriculture and industry.) |
|
F113110 |
Wholesales of battery. (For licensed business under the standard
classification of industries in Republic of China 4642 Wholesales of
electronic equipment and components and 4649 Wholesales of machinery and
tool) |
|
F119010 |
Wholesales of electronic materials. (For licensed business under the
standard classification of industries in Republic of China 4642 Wholesales of
electronic equipment and components) |
|
F219010 |
Retails of electronic materials (For licensed business under the standard
classification of industries in Republic of China 4831 Retails of computer
and related equipment, software 4832 Retails of communication equipment and
Retails of sound & video
equipment) |
It is introduced that subject purchases its products mainly from the
factories of its group in the mainland of China.
Subject is engaged in sale of silicon products and etc
The major products are silicon materials, silicon wafers.
Subject’s sales regions include Asia, Europe, America.
Subject’s major customers are solar energy industry.
It is introduced that subject’s products are applied to photovoltaic
cells and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Silicon products |
|
Payment Terms |
Interior settlement, T/T |
Import
The subject has little import.
Sales
Domestic Markets
|
Product |
Silicon products |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Silicon products |
|
Selling Terms |
L/C, T/T |
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff Ms. Chuang declined
to disclose its financials citing the grounds of company’s confidentiality;
from other sources we could not obtain such information, either. We found the consolidated financial
information of subject’s Ultimate Parent Company (GCL-Poly Energy
Holdings Limited.) from public files
for reference.
Balance Sheet
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Non-current assets |
55,684,567 |
48,585,249 |
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Current assets |
34,319,268 |
28,057,359 |
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Current liabilities |
48,071,985 |
42,044,902 |
|
Net current liabilities |
-13,752,717 |
-13,987,543 |
|
Total assets less current liabilities |
41,931,850 |
34,597,706 |
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Non-current liabilities |
20,568,665 |
16,592,620 |
|
Net assets |
21,363,185 |
18,005,086 |
|
Total equity |
21,363,185 |
18,005,086 |
Profit and Loss
Account
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Revenue |
37,224,721 |
25,530,002 |
|
Profit (loss) before tax |
2,794,718 |
-255,713 |
|
Profit (loss) for the year |
2,155,397 |
-445,805 |
|
Total comprehensive income for the year |
2,040,755 |
175,722 |
Bankers
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
|
Name |
Ms. Chuang |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
|
|
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
-- |
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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.