2008年3月10日星期一

As in overall appraisement and the financial analysis of core world

Overall

As scale is extended , competitive degree is aggravated , should receive account and stock to soar , because open up new market and enlarge scale to cause capital expense soar with depreciation, sale cost soars , this is normal condition. It is crucial to see new product( when to technology content higher product transfer produces can make obvious progress0.13Include65Nanometer, the6.7%) and new market( Chinese5%Demand, it380The America2010This difference1120The America of 100 million8%.3 GSupplemental product is a new growth point. From Beijing Shanghai Tianjin to Chengdu expansion, layout is reasonable. Make progress in international market), technical advantage as well as scale advantage( scale quick expansion). Since the cash of this firm is plentiful, line of credit is high(5Year5Month signs6The beautiful5Year12Month15Day signs volume1.05The beautiful5Year12Month31Debt has only33.2%, so, financial pressure2006Annual achievement, but this does not form fund pressure for company's operation. Value because of the Chinese market prospect of integrated circuit, this firm still has great development space. It is also a bright spot to intervene the profession of solar energy. Because achievement is not good , share price obvious weak in big city, but this major is because of depreciation as well as the stand of intangible assets sell to cause , it is unavoidable, this is the expression of company's healthy development. Add profession prosperous degree Chu base rebound is strong, should consider therefore when technical form coordination Feng is low to induct.

6Year4Month28Day newsIn core world87010 thousand6In season, achievement3,000In 10 thousand dollars,2.488100 million3.51100 million( loss ring is2610The- 1500The- 870The America ofThe beautiful round), business expansion is quick, but because of price is declining and depreciation expense, cause profit decreasing , open however to express equipment devaluation sell cost this year with stand will repay completely, if capital expense does not exceed10The America of 100 million is round ,

Expression the8Year will be reflected completely. Produce can the level that utilization rate needs for being higher than balance between income and expenditure. Actually, last year in 3th season, loss has begun to decrease , research and development of products and new technology get breakthrough(90NanometerLast year, the23.5%5YearIt is come from that0.18Micron and following), fund2004Year ago, 32004In year, 4th glides beginning from5Reach the5In 3th annual season, loss drops ,7Year is

When5Every year after newspaper announces2005Year, in the cash6.48100 million2004Increase24.9%, this is a. It12Month9America

5The analysis of annual42.8%And20.2%, take6%, growth20%To travel0.13Micron and following411%;515.4%;06Q435%. Profit4Year11.7%Arrive540.6%)5In year,93Arrives254It is quick that90Nanometer product and asset10%Above cause

The table2001-2005The increase of sales revenue200426%;20058%), sale cost70%Above, because of Taiwan product410001The AmericasEBIT( operational810004Million4Year8The 10 thousands3100 million( include capital2500Around 10 thousand,1The 10 thousands more than 1000. Therefore the reason of causing the loss of this year is depreciation mainly, the stand of intangible assets sells , as well as borrow money interest. This is the normal condition that appears in company's business quick development, these expenses have brought the fast increase of income, and it is steady that company's present cash flows out very abundant, financial index.

Asset liability43%, stock33%. Other major index expression

Cash flowCFOCFICFFThere

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