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Lihua Electron (Translated)

|Includes: Lihua International Inc (LIWA)
 
Balance Sheet
Unit: CNY
 
as of Dec. 31, 2007
as of Dec. 31, 2008
as of Dec. 31, 2009
Cash & bank
21,358,826.13
70,615,875.83
64,304,476.17
Short-term investment
0
0
0
Bills receivable
10,000.00
170,000.00
4,621,487.59
Dividend receivable
0
0
0
Interest receivable
0
0
0
Accounts receivable
39,182,632.07
47,534,884.95
75,261,837.09
Other receivables
21,733,002.24
50,182,124.46
24,998,912.18
Advances to supplies
2,187,796.08
14,153,010.83
0
Inventory
19,084,237.56
17,855,640.31
31,062,684.63
Including: Raw materials
3,187,727.28
904,217.89
/
Finished goods
14,668,591.65
16,178,322.88
/
Prepaid expenses
14,500.03
0
0
Long-term investment due within one year
0
0
 
0
Other current assets
0
0
0
 
------------------
------------------
------------------
Current assets
103,570,994.11
200,511,536.38
200,249,397.66
Long-term investment on stocks
0
0
0
Long-term investment on bonds
0
0
0
Equity division
0
0
0
Total long-term investment
0
0
0
Fixed assets-cost
6,443,547.27
20,314,524.05
27,586,161.43
Less: Accumulated depreciation
1,312,992.37
2,599,900.04
4,596,520.69
Net fixed assets
5,130,554.90
17,714,624.01
22,989,640.74
Less: Fixed assets depreciation reserves
0
0
 
0
Fixed assets net value
5,130,554.90
17,714,624.01
22,989,640.74
Project goods and material
0
0
0
Projects under construction
0
8,851,516.59
8,999,489.59
Liquidation of fixed assets
0
0
0
Total fixed assets
5,130,554.90
26,566,140.60
31,989,130.33
Intangible assets
35,000.00
965,739.05
859,498
Long-term deferred expense
15,055.50
19,881.48
0
Other Long-term assets
0
0
0
Intangible assets and other assets
50,055.50
985,620.53
 
859,498
Deferred taxes debit
0
0
0
 
------------------
------------------
------------------
Total assets
108,751,604.51
228,063,297.51
233,098,025.99
 
=============
=============
=============
Short loans
30,000,000.00
52,000,000.00
50,000,000.00
Bills payable
13,170,000.00
53,204,883.99
79,600,000.00
Accounts payable
8,263,391.39
5,970,896.43
62,594,450.76
Advances from clients
3,115,498.30
5,418,654.35
0
Accrued payroll
186,519.17
299,576.54
0
Welfare payable
0
0
0
 Including: bonus and welfare fund for staff and workers
0
0
 
0
Dividend payable
0
0
0
Interest payable
0
0
0
Taxes payable
284,301.89
-1,312,257.33
-3,640,576.71
Other unpaid expense
2,633.51
0.91
0.91
Other accounts payable
30,677,685.38
94,335,731.43
-6,812,381.51
Drawing expense in advance
0
1,585.61
0
Long-term liabilities due within one year
0
0
 
0
Other current liabilities
0
0
0
 
-----------------
-----------------
------------------
Current liabilities
85,700,029.64
209,919,071.93
181,741,493.45
Long term loans
910,000.00
910,000.00
910,000
Bonds payable
0
0
0
Long-term account payable
0
0
0
Special accounts payable
0
0
0
Other long-term liabilities
0
0
0
Total Long-term liabilities
910,000.00
910,000.00
910,000
Deferred tax credits
0
0
0
 
------------------
------------------
------------------
Total liabilities
86,610,029.64
210,829,071.93
182,651,493.45
Paid-up capital
16,738,685.88
16,738,685.88
57,660,410.48
 Including: Chinese investments
8,759,885.08
0
/
                 Including: State capital
0
0
/
                  Foreign investments
7,978,800.80
16,738,685.88
/
 Less: Investments returned
0
0
0
Net paid-up capital
16,738,685.88
16,738,685.88
57,660,410.48
Capital surplus
179,365.51
179,917.88
179,917.88
Surplus reserves
833,401.45
833,401.45
833,401.45
Including: Legal surplus
555,600.97
555,600.97
0
                 Discretionary surplus reserve
 
0
 
0
 
/
                Reserve fund
0
0
/
Enterprise development fund
 
0
 
0
 
/
Capital redemption
0
0
/
Unrealized investment losses
0
0
0
Unappropriated profit
4,390,122.03
-517,779.63
-8,227,197.27
Equities
22,141,574.87
17,234,225.58
50,446,532.54
 
------------------
------------------
------------------
Total liabilities & equities
108,751,604.51
228,063,297.51
233,098,025.99
 
=============
=============
=============
 
 
 
 
 
 
 
 
 
Income Statement
Unit: CNY
 
as of Dec. 31, 2007
as of Dec. 31, 2008
as of Dec. 31, 2009
Turnover
53,377,337.16
61,029,596.11
103,060,430.34
Including: Export Sales
2,258,663.85
3,392,192.13
/
Less: Cost of goods sold
50,642,907.30
57,433,492.12
100,793,711.61
Including: Cost of export sales
0
4,060,681.06
/
Tax and associate charge
29,063.49
13,450.91
3,285.60
Main Business Profits
2,705,366.37
3,582,653.08
2,263,433.13
Add: Other operating income
143,873.43
1,271,002.92
76,114.34
 Less: Sales expense
739,810.18
1,677,212.90
667,647.71
           Management expense
1,488,052.14
4,761,057.73
4,224,870.82
           Including: Business entertainment expenses
 
 
264,378.00
465,238.00
 
 
/
                            Research and development expense
 
0
0
 
/
           Finance expense
1,006,337.12
3,855,883.20
5,246,543.28
           Including: Interest expense
1,120,102.68
3,769,153.76
/
                            Interest revenue
132,414.86
338,391.15
/
                            Exchange net loss
-4,957.54
371,029.51
/
Operation profit
-384,959.64
-5,440,497.83
-7,799,514.34
Add: Investment income
0
0
0
Including: Joint venture income
0
0
0
Subsidy income
0
0
0
Non-operating income
631,027.85
1,500,916.96
374,765.23
Less: Non-operating expenses
380,831.48
968,320.79
46,306.39
           Including: Non-current assets disposition loss
 
0
0
 
/
Total profits before tax
-134,763.27
-4,907,901.66
-7,471,055.50
Less: profit tax
63,978.14
0
0
Minority interest
0
0
0
Add: Unrealized investment losses
0
0
0
Net profit
-198,741.41
-4,907,901.66
-7,471,055.50
 
 
 
 


Disclosure: Short LIWA