SICAN CO., LTD.
This report is sent in answer to your inquiry on:
D&B Business Information Report Date Printed : AUG. 18, 2017
Last Update Date : AUG. 18, 2017
Overview

Company Name (ENG) : SICAN CO., LTD.
Company Name (CHN) : 矽卡有限公司

D-U-N-S : 65-842-6044 D&B Rating* : 3A1
Year Established : 1998 Previous D&B Rating* : O
Year Registered : 1998 Financial Stress Class* : 1
BR No. : 16666109 NSF : No
Blacklist : No HISTORY : CLEAR
Condition* : MINIMAL RISK
Operating Address (ENG) : 12, LANE 9, DAYOU ST.,
LUZHU DIST.,
TAOYUAN CITY
TAIWAN (R.O.C.)
Operating Address (CHN) : 中華民國臺灣
桃園市
33842
蘆竹區
大有街9巷12號

Telephone : 03 - 3543828
Fax : 03 - 3542027
Fax : 03 - 3547094
URL : www.sican.com.tw
CEO (ENG) : CHEN, HUNG JU, JEFF
GENERAL MANAGER
CEO (CHI) : 陳 宏如
總經理
Line of Business (ENG) : MANUFACTURER OF SOLAR WINDOW FILM
Line of Business (CHI) : 汽車、大樓隔熱紙製造
SIC : 3714-0000
Import : NO
Export : YES
Sales : 364,893 ThousandsF
Net Worth : 133,435 ThousandsF
Employee No : 65 (Total)

CURRENCY: All monetary amounts quoted in this report are shown in NEW TAIWAN DOLLARS
unless otherwise stated.
*NOTE: Please refer to the Appendix section for D&B rating, Financial Stress Score and
Condition interpretation.

Executive Summary
The Financial Stress Class of 1 for this company shows that during the previous year, firms with this classification had a failure rate of 0.10 % (10 per 10,000 cos), which is lower than the national average.
The Paydex for the company is 80, which indicates that payment to suppliers is at average Payments received within terms granted and that subject has same payment habit than the same industry, as compared with Paydex Industry Norm 80.

  • Subject is a well-established business with 19 year(s) of operating history.
  • Nothing detrimental found in D&B's court database.
  • Nothing detrimental found in D&B's "Bank Blacklisted" database.
  • Nothing detrimental found in D&B's "Non Sufficient Funds" database.
  • Operations based on its 2016 financial statement.

The company, SICAN CO., LTD. was registered on 9/30/1998 under business registration number 16666109. Subject was founded as a private limited company. As of today, subject's authorized capital is NT$ 136,000,000 and paid up capital is NT$ 136,000,000.Subject employs almost 65 staffs in Taiwan.Main operation(s) of subject includes Manufacturer of Solar Window Film.

Management Summary
On Aug 10, 2017, Lee, Yi Jou, Rhoda, Specialist , submitted all information in this report.

Financial Stress Score - FSS

The Taiwan Financial Stress (TFS) Model predicts the likelihood of a firm ceasing business without paying all creditors in full, or re-organizing or obtaining relief from creditors over the next 12 months. Scores were calculated using a statistically valid model derived from D&B's extensive data files.
Summary
Financial Stress Class
5 4 3 2 1
The Company 99
High Risk Low Risk

Financial Stress Class
(Highest Risk: 5 ; Lowest Risk: 1)
: 1

Relative Risk : Lower Than Average

Incidence of Financial Stress Among Companies with this Classification: : 0.10%
(10 per 10,000 cos)

Incidence of Financial Stress - Taiwan Database Average : 2.10%
(210 per 10,000 cos)

Financial Stress Percentile : 99
(Highest Risk: 1 ; Lowest Risk: 100)

Financial Stress Score : 1,566
(Highest Risk: 1,232 ; Lowest Risk: 1,600)

Notes:
1. The Financial Stress Class indicates that this company shares some of the same business and
financial characteristics of other companies with this classification. It does not mean the firm
will necessarily experience financial distress.
2. The Financial Stress Percentile reflects the relative ranking of a company among all scoreable
companies in D&B database.
3. The Financial Stress Score offers a more precise measure of the level of risk than the Class
and Percentile. It is specially helpful to customers using a scorecard approach to determine
overall business.
4. All Financial Stress Class, Percentile, Score and Incidence statistics are based on latest
analysis derived from D&B Taiwan database.

Norm
Financial Stress Class
5 4 3 2 1
Subject Company 99
Industry 96
Employee Range 88
Year in Business 68

Subject Company : 99

Norms for companies in the same....

Industry : 96
(MFG MOTOR VEHICLE PARTS/ACCESSORIES)

Employee Range : 88
(50-99)

Year in Business Range : 68
(15-19)

Key Comparisons:
The subject company has a Financial Stress Percentile that shows:
- Lower risk than other companies in the same industry.
- Lower risk than other companies in the same employee size range.
- Lower risk than other companies with a comparable number of the years in business range.

Payment

As of AUG 18, 2017

D&B Paydex
This Payment section reflects payment information in D&B's file as of Aug 18, 2017.

The Paydex for SICAN CO., LTD. is 80

This Paydex indicates that, within the past 12 months, payments to suppliers are generally Payments received within term weighted by TWN dollar amounts.

The Paydex used by Dun & Bradstreet is a computer generated, 1 to 100 dollar-weighted numerical indicator of payment performance as reported to D&B. Paydex Payment
Rating  Manner
100       Anticipated
 90        Discount
 80        Prompt
 70        Slow to 15
 50        Slow to 30
 40        Slow to 60
 30        Slow to 90
 20        Slow to 120
Payment Summary
Industry Paydex based on :
Industry Group Description : MFG MOTOR VEHICLE PARTS/ACCESSORIES
No. of Paydex Cases in the Industry Group : 327 Firms

Industry Quartiles

Upper   80 (Payments received within terms granted )
Median 80 (Payments received within terms granted )
Lower   80 (Payments received within terms granted )

80
 The Company 
 Industry Median 
80

For an in-depth details of each Payment Trade Record, please refer to the "Appendix" at the back of this report.
Banking

Non-Sufficient Fund & Blacklist
A search at the Taiwan Clearing House on 8/8/17 did not revealed subject as a "classified" account to be prohibited from operating check account in Taiwan.

Finance

Balance Sheet
(Fiscal/Thousands)(Fiscal/Thousands)(Fiscal/Thousands)
ASSETSDec 31, 2016%of TADec 31, 2015%of TADec 31, 2014%of TA
Cash44,42014.4240,55123.7225,70315.57
Accounts Receivables38,61012.5324,68314.4432,50319.70
Notes Receivable14,3064.646,6243.874,4172.67
Other Receivables2,5590.8300.0000.00
Inventory65,07321.1264,59037.7874,36845.07
Prepayment3,3171.072,9991.753,3942.05
Short Term Investments79,99125.9600.0000.00
Other Current Assets4090.131,5360.891,6681.01
TOTAL CURRENT ASSETS248,68580.72140,98382.48142,05386.10
Plant & Equipment67,21121.8150,08429.3051,17031.01
Transportation Equipment7,1932.335,8383.411,1930.72
Office Furniture3,6341.182,2921.343,1511.91
Less Acc. Depreciation-40,686-13.20-36,762-21.50-38,087-23.08
Other Fixed Assets1,0240.339200.537450.45
Prepayment for Equipment6,3102.043,0611.7900.00
TOTAL FIXED ASSETS44,68614.5025,43314.8718,17211.01
Other Assets6,3612.064,4532.604,7022.85
Guarantee Deposit Paid8,3202.70600.03600.03
INVESTMENT & OTHER ASSETS14,6814.764,5132.644,7622.88
TOTAL ASSETS308,052100.00170,929100.00164,987100.00

LIABILITIESDec 31, 2016%of TL&EDec 31, 2015%of TL&EDec 31, 2014%of TL&E
Accounts Payable59,70619.3833,23219.4425,15915.24
Notes Payable6,1071.984,1752.448,5905.20
Bank Loans20,0006.4900.0000.00
Advance Receipts4,9261.593,0631.796,7154.07
Accrued Expenses3,8631.253,1511.842,1101.27
Other Current Liabilities80,01525.97120.0040.00
TOTAL CURRENT LIABILITIES174,61756.6843,63325.5242,57825.80
TOTAL LIABILITIES174,61756.6843,63325.5242,57825.80

SHAREHOLDERS' EQUITYDec 31, 2016%of TL&EDec 31, 2015%of TL&EDec 31, 2014%of TL&E
Capital136,00044.14136,00079.56136,00082.43
Accumulated Profits/Loss-8,704-2.82-13,590-7.95-16,517-10.01
Retained Earnings6,1391.994,8862.852,9261.77
TOTAL EQUITY133,43543.31127,29674.47122,40974.19
EQUITY & LIABILITIES308,052100.00170,929100.00164,987100.00

Profit & Loss Statement
(Fiscal/Thousands) (Fiscal/Thousands) (Fiscal/Thousands)
2016 %of Sales 2015 %of Sales 2014 %of Sales
Sales 368,224 100.91 319,066 100.06 326,930 100.03
Returns and Discounts -3,331 -0.91 -210 -0.06 -124 -0.03
Net Sales 364,893 100.00 318,856 100.00 326,806 100.00
Cost of Goods Sold -324,227 -88.85 -290,433 -91.08 -305,960 -93.62
Gross Profit/Loss 40,666 11.14 28,423 8.91 20,846 6.37
Net Operating Expenses -36,199 -9.92 -24,723 -7.75 -19,300 -5.90
Total Operating Expenses -36,199 -9.92 -24,723 -7.75 -19,300 -5.90
Operating Profit/Loss 4,467 1.22 3,700 1.16 1,546 0.47
Non Operating Income 2,689 0.73 3,381 1.06 1,663 0.50
Total Non-Operating Income 2,689 0.73 3,381 1.06 1,663 0.50
Non Operating Expenses -1,018 -0.27 -1,999 -0.62 -282 -0.08
Total Non-Operating Expenses -1,018 -0.27 -1,999 -0.62 -282 -0.08
Profit/Loss Before Tax 6,138 1.68 5,082 1.59 2,927 0.89
Profit/Loss After Tax 6,138 1.68 5,082 1.59 2,927 0.89
Net Profit(Loss) after Tax & Min. Interest 6,138 1.68 5,082 1.59 2,927 0.89

The above accounts were submitted by the company and filed with the local tax authority.

The above statements were obtained from the company personnel.


Key Ratios
CAPTIAL STRUCTURE ANALYSISDec 31, 2016Dec 31, 2015Dec 31, 2014
TOTAL DEBT/EQUITY RATIO 1.30 0.34 0.34
DEBT RATIO 0.56 0.25 0.25
LONG TERM FUNDS TO FIXED ASSETS(%) 298.60 500.51 673.61
LIQUIDITY ANALYSIS
CURRENT RATIO 1.42 3.23 3.33
QUICK RATIO 1.05 1.75 1.58
OPERATING PERFORMANCE ANALYSIS
NET SALES GROWTH(%) 14.43 -2.43 0
NET PROFIT(LOSS) GROWTH(%) 20.77 73.62 0
WORKING CAPITAL TURNOVER(DAYS) 73.07 109.91 109.58
ACCOUNTS RECEIVABLE TURNOVER(TIMES) 6.57 10.18 8.85
DAYS SALES OUTSTANDING(DAYS) 54.73 35.3440.67
PAYMENT PERIOD(DAYS) 73.07 46.36 39.70
AVERAGE INVENTORY TURNOVER(TIMES) 4.98 4.49 4.11
AVERAGE DAYS TO SELL INVENTORY(DAYS) 72.25 80.06 87.50
FIXED ASSETS TURNOVER(TIMES) 8.16 12.53 17.98
TOTAL ASSET TURNOVER(TIMES) 1.18 1.86 1.98
RETURN ON INVESTMENT ANALYSIS
RETURN ON ASSETS(%) 1.99 2.97 1.77
RETURN ON EQUITY(%) 4.60 3.99 2.39


Industry Median

Ratios201620152014
TOTAL DEBT/EQUITY RATIO0.970.920.94
DEBT RATIO0.490.470.48
LONG TERM FUNDS TO FIXED ASSETS(%)214.94212.45225.88
CURRENT RATIO1.461.561.55
QUICK RATIO1.091.100.97
ACCOUNTS RECEIVABLE TURNOVER(TIMES)5.135.074.87
DAYS SALES OUTSTANDING(DAYS)70.2271.0174.05
AVERAGE INVENTORY TURNOVER(TIMES)4.333.673.77
AVERAGE DAYS TO SELL INVENTORY(DAYS)83.2398.0695.40
FIXED ASSETS TURNOVER(TIMES)2.462.342.64
TOTAL ASSET TURNOVER(TIMES)0.720.670.73
RETURN ON ASSETS(%)6.305.744.55
RETURN ON EQUITY(%)12.9111.658.83
EARNINGS PER SHARE(NTD)3.282.571.76

Note: Industry median is calculated by using the data from 37 public companies' within the same industry as the subject.

Financial Analysis

Current ratio of 1.42 indicated a healthy liquidity position with adequate current assets to back short-term liabilities.

Debt/equity ratio at 1.30 indicated that the company had financed its operations primarily with external sources of funds, but was not excessive.

Operations were conducted profitably with a net margin of 1.68%.

The net profit (after tax) of 6,138 thousands represented an 4.60% return on equity and a 1.99% return on total assets.

Public Filings

Suits

A search conducted in all courts including 1 Supreme Court, 6 High Courts, 20 District Courts, 29 Small Claims Tribunals and 5 Administrative Courts within Taiwan and Fu Chien reveals no court judgment been formed against the subject.

Collateral Records
A search conducted at Ministry of Economic Affairs has revealed no Collateral Record (s) as at present.

Bidding Right Suspension
A search conducted at the Taiwan Governmental Authorities revealed the subject is not prohibited from bidding against Governmental projects currently.

History

Business Registration
Subject is a private limited company which was registered in Taiwan on September 30 1998 under business registration number 16666109. Business was established in 1998.

Special Events
Authorized Capital $136,000,000

Paid up Capital $136,000,000 as of Aug 11 2017.

Change in Shareholder Structure
Shareholders Shares
Chen, Hung Ju, Jeff 85.29%
Others 14.71%

Total 100%

A search at the Board of Foreign Trade and Department of Commerce on Aug 10, 2017 confirmed the above registration and capital details.

Management
Principals
 
Chen, Hung Ju, Jeff / GENERAL MANAGER
 

Primary Executive
Name : CHEN, HUNG JU, JEFF
Title : General Manager
Gender : male
Active in Operation : Yes
 

Operations

Line of Business
Manufacturer of Solar Window Film

Line of Products & Services : Automotive window films 65%
Commercial/Residential window films 35%

SALES TERRITORY
Local & International
Local : 40%
International : 60%

PURCHASES
Local
Local : 100%

Following are the subject's annual export/import value range records posted by the Bureau of Foreign Trade, R.O.C.

Actual export value range full year 2016 was E .

Actual import value range full year 2016 was K .

Actual export value range full year 2015 was E .

Actual import value range full year 2015 was K .

Actual export value range full year 2014 was E .

Actual import value range full year 2014 was L .

Actual export value range full year 2013 was G .

Actual import value range full year 2013 was L .

Actual export value range full year 2012 was F .

Actual import value range full year 2012 was L .

Actual export value range full year 2011 was B .

Actual import value range full year 2011 was M .

Actual export value range full year 2010 was E .

Actual import value range full year 2010 was M .

* Please refer to the "Appendix" at the bottom of this report for the table of value ranges.

Customer Types
Type by Percentage
Summary List of Account Names
Major customers include Euro Crown Industrial Co. Limited Taiwan Branch (Hong Kong).

Major suppliers include Nan Ya Plastics Corporation. Other suppliers include Shinkong Synthetic Fibers Corp..

Purchasing And Selling Terms
Purchasing Terms : Post Dated Checks 30-60days
T/T

Selling Terms : Post Dated Checks 30-60days
T/T

Number Of Employees : 65 (Total)

Location

Subject is located in an industrial area. Subject rents premises at the above captioned address 300 pings (990 sq.m.), used as its office and factory.

Affiliated Companies
At the time of this report, subject is not known to be affiliated or related with any company.

Appendix

D&B Rating
The D&B rating of 3A1 indicates a tangible net worth between $25,000,000 and $249,999,999 and an overall credit condition which is considered Minimal risk.

D&B Rating Table: Taiwan
*Financial Strength In: New Taiwan Dollars
Financial Strength Based On:Tangible Net Worth or Capital

Financial Strength Indicators: Range
Net Worth Capital FROM TO
5A 5AA $1,500,000,000 And above
4A 4AA $250,000,000 $1,499,999,999
3A 3AA $25,000,000 $249,999,999
2A 2AA $20,000,000 $24,999,999
1A 1AA $15,000,000 $19,999,999
A AA $10,000,000 $14,999,999
B BB $5,000,000 $9,999,999
C CC $3,000,000 $4,999,999
D DD $2,000,000 $2,999,999
E EE $1,000,000 $1,999,999
F FF $750,000 $999,999
G GG $500,000 $749,999
H HH $0 $499,999

Alternate Ratings Used
N Financial Strength is negative
O Financial Strength is undisclosed
NB New Business: Less than 24 months
NQ Out of Business: Business has ceased to trade
BR Branch or division location.
DS Indicates that only brief partial information is currently available on the company, and a full investigation will be conducted once an enquiry is placed.
INV Indicates that D&B is currently conducting an investigation to gather the most current details.

Composite Conditions
1 Minimal risk
2 Low risk
3 Risk slightly higher than average
4 High risk
- Undetermined risk


Taiwan Financial Stress Model

The Financial Stress model assigns three measurements of risk:

1. A "Class" of 1 - 5, which is a segmentation of the scoreable universe into five
distinct risk groups where a one (1) represents businesses that have the lowest
probability of financial stress, and a five (5) represents businesses with the
highest probability of financial stress. This Class enables a customer to
quickly segment their new and existing accounts into various risk segments to
determine appropriate marketing or credit policies.

2. A "Percentile" of 1 - 100, where a 1 represents businesses that have the
highest probability of financial stress, and a 100 which represents businesses
with the lowest probability of financial stress. This Percentile shows you
where a company falls among businesses in the D&B database, and is most
effectively used by customers to rank order their portfolios from highest to
lowest risk of business failure.

3. A "Financial Stress Score" of 1,232 - 1,600, where a 1,232 represents
businesses that have the highest probability of financial stress, and a
1,600 which represents businesses with the lowest probability of financial
stress. As this score is derived directly from the scorecard, it offers a
more precise measure of the level of risk than any other measurements of
risk as it shows the exact score from the scoring algorithm. The D&B
Financial Stress Score is especially useful to customers using computerized
decision systems to determine overall business performance.


Export/Import Value Range Table
A 10 USD million & up
B 9~10 USD million
C 8~9 USD million
D 7~8 USD million
E 6~7 USD million
F 5~6 USD million
G 4~5 USD million
H 3~4 USD million
I 2~3 USD million
J 1~2 USD million
K 0.5~1 USD million
L 0~0.5 USD million
M 0
Payment Trade Records
EXP. DATE PAYING RECORD HIGH CREDIT NOW OWES PAST DUE TERM SALE
30/6/2017 PROMPT 20,000 10,000 0 EOM 90 15/6/2017
30/6/2017 PROMPT 7,500 7,500 0 NET 23/6/2017
30/6/2017 PROMPT 10,000 10,000 0 EOM 30 23/6/2017
31/5/2017 PROMPT 20,000 5,000 0 EOM 90 15/5/2017
30/4/2017 PROMPT 20,000 5,000 0 EOM 90 15/4/2017
30/4/2017 PROMPT 10,000 10,000 0 EOM 45 15/4/2017
30/4/2017 PROMPT 5,000 5,000 0 EOM 30 15/4/2017
31/3/2017 PROMPT 20,000 10,000 0 EOM 90 15/3/2017
31/3/2017 PROMPT 7,500 7,500 0 NET 4/3/2017
31/3/2017 PROMPT 5,000 2,500 0 EOM 30 15/3/2017
28/2/2017 PROMPT 20,000 10,000 0 EOM 90 15/2/2017
28/2/2017 PROMPT 7,500 7,500 0 NET 12/2/2017
28/2/2017 PROMPT 5,000 5,000 0 EOM 30 15/2/2017
31/1/2017 PROMPT 10,000 10,000 0 EOM 45 15/1/2017
31/1/2017 PROMPT 20,000 5,000 0 EOM 90 15/1/2017
31/12/2016 PROMPT 7,500 7,500 0 NET 16/12/2016
31/12/2016 PROMPT 20,000 10,000 0 EOM 90 15/12/2016
30/11/2016 PROMPT 20,000 5,000 0 EOM 90 15/11/2016
31/10/2016 PROMPT 20,000 5,000 0 EOM 90 15/10/2016
30/9/2016 PROMPT 20,000 10,000 0 EOM 90 15/9/2016
30/9/2016 PROMPT 7,500 7,500 0 NET 3/9/2016
31/8/2016 PROMPT 20,000 10,000 0 EOM 90 15/8/2016
31/8/2016 PROMPT 7,500 7,500 0 NET 13/8/2016

The above payment record reflects how accounts are paid in relation to the terms granted. SLOW30, for example, indicates a 30 day term where 30 additional days are taken.
In some instances, payment beyond terms can be the result of disputes over merchandise, lost invoices, etc.
(JK /JE /81017)

 
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