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88
II. Financial analysis in the past five years
Year
Item (Note 4)
Financial analysis in the past five years As of
April 19,
2013
(Note 3)
2008 2009 2010 2011 2012
Financial
structure
炷炴炸
Ratio of liabilities to assets 24.16 24.35 36.78 37.10 39.67 -
Ratio of long-term capital to fixed
assets 3,550.99 4,052.73 2,483.98 2,919.09 2,855.72 -
Solvency
(%)
Current ratio (%) 185.45 187.28 190.71 182.90 173.11 -
Quick ratio (%) 126.91 154.53 150.40 146.56 131.62 -
Times interest earned ratio 66.82 127.32 234.31 421.29 5,342,727.40 -
Operating
ability
Account receivable turnover
(times) 3.38 5.41 6.04 5.96 5.98 -
Days sales in accounts receivable 107.98 67.46 60.43 61.24 61.03 -
Inventory turnover (times) 5.43 9.26 15.99 15.28 13.69 -
Account payable turnover (times) 4.41 7.20 6.94 6.59 6.77 -
Average days in sales 67.21 39.41 22.86 23.88 26.66 -
Fixed assts turnover (times) 52.93 54.43 69.51 80.67 84.98 -
Total assets turnover (times) 1.13 1.02 1.77 1.74 1.80 -
Profitability
Ratio of return on total assets (%) 6.41 5.60 8.35 9.48 11.45 -
Ratio of return on shareholders’
equity (%) 10.08 7.33 11.81 15.00 18.61 -
Ratio to issued
capital stock (%)
Operating income 16.93 8.35 154.12 142.46 196.24 -
Income before tax 48.41 30.19 301.57 262.97 354.88 -
Profit ratio (%) 6.60 5.37 5.56 5.22 5.98 -
Earnings per share ($) 3.88 2.94 6.32 21.99 29.79 -
Cash flow
()
Cash flow ratio (%) 34.82 46.17 36.41 14.83 21.89 -
Cash flow adequacy ratio (%) 31.01 51.68 85.46 122.16 115.61 -
Cash reinvestment ratio (%) 4.86 9.01 10.87 0.42 4.19 -
Balance Degree of operating leverage 1.26 2.60 1.54 1.61 1.34 -
Degree of financial leverage 1.05 1.03 1.01 1.00 1.00 -