Profit and Loss statement, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5Sales revenue 1,765,025 2,143,203 2,540,459 1,801,296 3,520,835
Costs and expensesVariable production costs 625,935 701,218 515,300 626,623 1,222,770Feature costs 149,071 314,413 219,373 203,715 485,275Contract manufacturing costs 42,012 252,619 118,014 0 88,729Transportation and tariffs 97,080 41,487 108,841 90,334 206,356R&D 0 85,281 0 0 410,000Promotion 37,500 60,000 115,000 43,300 236,000Administration 190,157 163,269 136,386 159,471 167,984Costs and expenses total 1,141,755 1,618,288 1,212,914 1,123,441 2,817,115
OPERATING PROFIT BEFORE DEPR. (EBITDA) 623,270 524,915 1,327,545 677,855 703,720Depreciation from fixed assets 309,133 173,322 72,697 72,531 278,880
OPERATING PROFIT (EBIT) 314,137 351,593 1,254,847 605,324 424,840Net financing expenses 34,946 214,177 -37,086 456,198 -29,948
PROFIT BEFORE TAXES 279,191 137,417 1,291,933 149,126 454,788Income taxes 93,553 95,982 268,988 142,831 154,963
PROFIT FOR THE ROUND 185,639 41,435 1,022,945 6,295 299,826
Balance sheet, k USD, Global
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 1,751,754 982,158 411,951 411,007 1,580,321Inventory 618,779 1,157,313 164,249 469,350 20,594Receivables 67,953 82,513 97,808 69,350 135,552Cash and cash equivalents 1,527,032 1,688,517 2,977,582 986,479 2,096,901Total assets 3,965,518 3,910,501 3,651,590 1,936,186 3,833,368
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 340,000 340,000 340,000 355,000 340,000Additional paid-in capital 0 0 0 129,379 0Profit for the round 185,639 41,435 1,022,945 6,295 299,826Retained earnings 2,023,766 415,306 1,741,837 -2,579,970 2,606,632Total equity 2,549,405 796,741 3,104,782 -2,089,296 3,246,458
LiabilitiesLong-term debts 1,259,789 309,789 509,789 2,959,789 509,789Short-term debts (unplanned) 121,131 2,753,547 0 1,030,247 0Payables 35,193 50,425 37,019 35,446 77,121Total liabilities 1,416,113 3,113,760 546,808 4,025,482 586,909
Total shareholders' equity and liabilities 3,965,518 3,910,501 3,651,590 1,936,186 3,833,368
Profit and Loss statement, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenuefrom markets 418,876 474,074 673,729 392,376 800,086from internal transfers 374,750 152,737 193,695 312,638 625,188Sales revenue total 793,626 626,811 867,424 705,014 1,425,274
Costs and expensesVariable production costs 542,449 286,211 294,054 478,897 726,605Feature costs 32,719 71,156 69,648 39,426 91,321Contract manufacturing costs 25,729 100,011 66,563 0 88,729Transportation and tariffs 0 0 0 0 19,819R&D 0 46,194 0 0 197,407Promotion 14,000 20,000 50,000 23,300 140,000Administration 114,604 95,462 83,014 110,120 90,067Costs of imported products 0 0 0 0 89,064Costs and expenses total 729,500 619,034 563,280 651,743 1,443,011
OPERATING PROFIT BEFORE DEPR. (EBITDA) 64,126 7,777 304,144 53,271 -17,737Depreciation from fixed assets 109,855 48,385 2,665 44,306 61,465
OPERATING PROFIT (EBIT) -45,730 -40,608 301,479 8,965 -79,202Net financing expenses 69,564 274,776 8,384 472,690 1,219
PROFIT BEFORE TAXES -115,294 -315,384 293,095 -463,725 -80,421Income taxes 0 0 0 0 0
PROFIT FOR THE ROUND -115,294 -315,384 293,095 -463,725 -80,421
Balance sheet, k USD, USA
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 622,512 274,182 15,101 251,068 348,301Inventory 618,779 1,084,895 164,249 469,350 20,594Receivables 16,127 18,252 25,939 15,106 30,803Cash and cash equivalents 2,000 2,000 780,595 2,000 849,786Total assets 1,259,418 1,379,328 985,884 737,524 1,249,484
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 300,000 300,000 300,000 315,000 300,000Additional paid-in capital 0 0 0 129,379 0Profit for the round -115,294 -315,384 293,095 -463,725 -80,421Retained earnings -299,343 -1,131,232 -278,565 -4,022,718 139,446Total equity -114,637 -1,146,616 314,530 -4,042,064 359,026
LiabilitiesLong-term debts 1,259,789 309,789 509,789 2,959,789 509,789Short-term debts (unplanned) 121,131 2,753,547 0 994,844 0Internal loans -30,000 -555,000 145,000 805,000 345,000Payables 23,135 17,609 16,565 19,955 35,669Total liabilities 1,374,055 2,525,945 671,354 4,779,589 890,458
Total shareholders' equity and liabilities 1,259,418 1,379,328 985,884 737,524 1,249,484
PARENT COMPANY'S CASH FLOW STATEMENT, k USD
Company 1 Company 2 Company 3 Company 4 Company 5
Cash provided by operating activitiesOperating profit before depreciation (EBITDA) 64,126 7,777 304,144 53,271 -17,737Change in receivables (incr – / decr +) 3,187 -344 -6,114 1,646 -4,247Change in inventories (incr – / decr +) -54,925 -888,944 58,588 270,907 13,187Change in payables (incr + / decr -) 5,324 4,153 370 -1,387 15,752Net financing expenses -69,564 -274,776 -8,384 -472,690 -1,219Income taxes 0 0 0 0 0Total -51,852 -1,152,135 348,605 -148,253 5,736
Cash provided by investment activitiesPlant investments (-) / divestments (+) 0 0 252,000 252,000 -140,000
Cash flow before financing activities -51,852 -1,152,135 600,605 103,747 -134,264
Cash provided by financing activitiesDividends 0 0 0 0 0Proceeds from equity issues and buybacks 0 0 0 0 0Dividends received from subsidiaries 0 0 0 0 0Change in long-term debt (incr + / decr -) 0 0 0 0 0Change in short-term debt (incr + / decr -) 26,852 1,152,135 0 26,253 0Change in internal loans 25,000 0 0 -130,000 300,000Total 51,852 1,152,135 0 -103,747 300,000Change in cash and cash equivalents 0 0 600,605 0 165,736
Cash 1.1. 2,000 2,000 179,990 2,000 684,050Cash 31.12. 2,000 2,000 780,595 2,000 849,786
Profit and Loss statement, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenuefrom markets 1,102,645 1,522,131 888,830 1,110,776 1,512,625from internal transfers 0 0 127,961 0 247,726
Sales revenue total 1,102,645 1,522,131 1,016,791 1,110,776 1,760,352
Costs and expensesVariable production costs 83,486 415,007 221,246 147,726 496,165Feature costs 97,092 238,978 84,385 124,087 225,549Contract manufacturing costs 16,283 152,609 51,450 0 0Transportation and tariffs 59,158 20,381 19,989 46,995 71,495R&D 0 39,087 0 0 212,593Promotion 13,500 20,000 50,000 12,000 30,000Administration 65,553 57,808 43,372 39,351 67,918Costs of imported products 280,933 78,007 65,797 207,094 431,847Costs and expenses total 616,005 1,021,876 536,239 577,253 1,535,566
OPERATING PROFIT BEFORE DEPR. (EBITDA) 486,641 500,255 480,552 533,523 224,786Depreciation from fixed assets 199,278 124,937 70,032 28,225 217,415
OPERATING PROFIT (EBIT) 287,363 375,318 410,520 505,299 7,370Net financing expenses -31,946 -59,987 -41,168 -18,625 -27,960
PROFIT BEFORE TAXES 319,309 435,305 451,688 523,923 35,330Income taxes 70,248 90,558 99,371 115,263 0
PROFIT FOR THE ROUND 249,061 344,747 352,316 408,660 35,330
Balance sheet, k USD, Asia
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 1,129,242 707,976 396,850 159,939 1,232,020Inventory 0 72,418 0 0 0Receivables 42,452 58,602 34,220 42,765 58,236Cash and cash equivalents 963,205 1,552,430 1,147,763 982,479 586,402Total assets 2,134,899 2,391,427 1,578,833 1,185,183 1,876,658
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 20,000 20,000 20,000 20,000 20,000Profit for the round 249,061 344,747 352,316 408,660 35,330Retained earnings 1,405,981 719,841 916,999 279,249 715,789Total equity 1,675,042 1,084,588 1,289,316 707,909 771,119 LiabilitiesShort-term debts (unplanned) 0 0 0 0 0Internal loans 450,000 1,275,000 275,000 465,000 1,075,000Payables 9,857 31,839 14,517 12,274 30,539Total liabilities 459,857 1,306,839 289,517 477,274 1,105,539
Total shareholders' equity and liabilities 2,134,899 2,391,427 1,578,833 1,185,183 1,876,658
Profit and Loss statement, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
Sales revenueSales revenue 243,503 146,998 977,900 298,144 1,208,124
Costs and expensesFeature costs 19,261 4,278 65,340 40,202 168,406Transportation and tariffs 37,922 21,107 88,853 43,338 115,043Promotion 10,000 20,000 15,000 8,000 66,000Administration 10,000 10,000 10,000 10,000 10,000Costs of imported products 93,817 74,730 255,859 105,544 352,003Costs and expenses total 171,000 130,115 435,052 207,084 711,452
OPERATING PROFIT BEFORE DEPR. (EBITDA) 72,504 16,883 542,848 91,060 496,672Depreciation from fixed assets 0 0 0 0 0
OPERATING PROFIT (EBIT) 72,504 16,883 542,848 91,060 496,672Net financing expenses -2,672 -613 -4,302 2,132 -3,207
PROFIT BEFORE TAXES 75,176 17,496 547,151 88,928 499,879
Income taxes 23,305 5,424 169,617 27,568 154,963
PROFIT FOR THE ROUND 51,871 12,072 377,534 61,361 344,917
Balance sheet, k USD, Europe
Company 1 Company 2 Company 3 Company 4 Company 5
ASSETSFixed assets 0 0 0 0 0Receivables 9,375 5,659 37,649 11,479 46,513Cash and cash equivalents 561,827 134,086 1,049,224 2,000 660,713Total assets 571,201 139,746 1,086,873 13,479 707,226
SHAREHOLDERS' EQUITY AND LIABILITIESEquityShare capital 20,000 20,000 20,000 20,000 20,000Profit for the round 51,871 12,072 377,534 61,361 344,917Retained earnings 917,128 826,697 1,103,403 1,163,499 1,751,397Total equity 989,000 858,769 1,500,937 1,244,859 2,116,313
LiabilitiesShort-term debts (unplanned) 0 0 0 35,403 0Internal loans -420,000 -720,000 -420,000 -1,270,000 -1,420,000Payables 2,202 977 5,936 3,216 10,913Total liabilities -417,798 -719,023 -414,064 -1,231,381 -1,409,087
Total shareholders' equity and liabilities 571,201 139,746 1,086,873 13,479 707,226
Ratios and key financial indicators
Ratios Company 1 Company 2 Company 3 Company 4 Company 5
Market capitalization of the company, k USD 7,083,413 3,935,519 12,745,553 4,816,452 15,375,204Shares outstanding at the end of round, k shares 30,000 30,000 30,000 31,500 30,000Share price at the end of round, USD 236 131 425 153 513Average trading price during the round, USD 159 129 294 113 439Dividend yield, % 0 0 0 0 0P/E ratio 38.16 94.98 12.46 765 51.28Cumulative total shareholder return (p.a.), % 2.53 -4.73 10.46 -2.89 13.19
Key financial indicators, %Company 1 Company 2 Company 3 Company 4 Company 5
Operating profit before depreciation (EBITDA) 35.31 24.49 52.26 37.63 19.99Operating profit (EBIT) 17.80 16.41 49.39 33.60 12.07Return on sales (ROS) 10.52 1.93 40.27 0.35 8.52Equity ratio 64.29 20.37 85.03 n/a 84.69Net debt to equity (gearing) -5.73 173 -79.48 n/a -48.89Return on capital employed (ROCE) 8.21 10.77 40.44 32.02 11.78Return on equity (ROE) 7.56 5.34 39.45 n/a 9.68Earnings per share (EPS), USD 6.19 1.38 34.10 0.20 9.99
Market report, globalGlobal market shares, %
Company 1 Company 2 Company 3 Company 4 Company 5Total 17.13 21.68 17.10 16.89 27.21
Tech 1 29.43 27.46 12.36 30.75 0Tech 2 22.56 13.08 5.52 20.48 38.36Tech 3 0 24.25 32.73 0 43.02Tech 4 0 0 0 0 0
Market report, USA
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1
Selling Price, USD 150 160 150 166Number of offered features 3 6 4 4Sales, k units 843 849 1,068 792Demand, k units 843 849 1,068 792 Tech 2 Selling Price, USD 200 200 230 220Number of offered features 2 4 3 7Sales, k units 1,462 1,691 1,134 1,390Demand, k units 1,462 1,691 1,134 2,600 Tech 3 Selling Price, USD 280 270Number of offered features 4 3Sales, k units 1,834 1,831Demand, k units 1,834 1,831 Tech 4 Selling Price, USDNumber of offered featuresSales, k unitsDemand, k units
USA market shares, % Company 1 Company 2 Company 3 Company 4 Company 5Total 17.88 19.70 22.51 14.94 24.98 Tech 1 23.73 23.91 30.07 22.30 0Tech 2 25.76 29.79 0 19.98 24.48Tech 3 0 0 50.04 0 49.96Tech 4 0 0 0 0 0
Market report, Asia
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1Selling Price, RMB 1,299 1,200 1,700 1,290Number of offered features 3 6 4 4Sales, k units 4,026 4,299 1,249 4,202Demand, k units 4,026 5,478 1,249 4,202
Tech 2Selling Price, RMB 1,750 1,790 1,640Number of offered features 2 2 7Sales, k units 2,052 1,936 3,455Demand, k units 2,052 1,936 3,455
Tech 3Selling Price, RMB 1,500 2,200 1,440Number of offered features 3 4 3Sales, k units 4,679 2,267 4,468Demand, k units 8,245 2,267 8,569
Tech 4Selling Price, RMBNumber of offered featuresSales, k unitsDemand, k units
Asia market shares, %Company 1 Company 2 Company 3 Company 4 Company 5
Total 18.63 27.51 10.77 18.81 24.28
Tech 1 29.22 31.20 9.07 30.50 0Tech 2 27.57 0 0 26.01 46.42Tech 3 0 40.99 19.86 0 39.15Tech 4 0 0 0 0 0
Market report, Europe
Company 1 Company 2 Company 3 Company 4 Company 5Tech 1Selling Price, EUR 99 142 113Number of offered features 3 6 6Sales, k units 648 0 769Demand, k units 648 557 769
Tech 2Selling Price, EUR 199 161 185 210 210Number of offered features 2 1 2 3 10Sales, k units 633 713 1,016 695 2,207Demand, k units 633 713 1,095 695 2,207 Tech 3Selling Price, EUR 260 240Number of offered features 4 3Sales, k units 2,215 2,001Demand, k units 2,215 2,001 Tech 4Selling Price, EURNumber of offered featuresSales, k unitsDemand, k units
Europe market shares, %Company 1 Company 2 Company 3 Company 4 Company 5
Total 11.76 6.54 29.65 13.44 38.61
Tech 1 45.71 0 0 54.29 0Tech 2 12.03 13.55 19.30 13.20 41.92Tech 3 0 0 52.54 0 47.46Tech 4 0 0 0 0 0
Production report
In-house manufacturing, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USATech 1 2,904Tech 2 6,545 4,433 704Tech 3 5,005 7,150Tech 4 2,717
AsiaTech 1 3,025 2,541Tech 2 660 6,661Tech 3 3,025 3,465Tech 4
Contract manufacturing, k unitsUSATech 1Tech 2 1,953Tech 3 1,150Tech 4 AsiaTech 1Tech 2Tech 3 1,654Tech 4
Capacity usage, %USATech 1 33Tech 2 70 62 8Tech 3 91 100Tech 4 38Free capacity 30 0 9 59 0 AsiaTech 1 50 77Tech 2 20 87
Tech 3 50 90Tech 4Free capacity 100 0 10 3 14
Inventory, k unitsUSATech 1 6,698 0 650 5,595 412Tech 2 3,000 4,554 0 2,039 0Tech 3 0 0 2,155 0 0Tech 4 0 2,717 0 0 0
AsiaTech 1 0 0 0 0 0Tech 2 0 0 0 0 0Tech 3 0 0 0 0 0Tech 4 0 157 0 0 0
Inventory management costs, k USD 13,151 6,121 4,016 10,793 693
Origin of products sold in USA, k unitsUSA 2,305 2,540 2,902 1,926 1,982Asia 1,239
Origin of products sold in Asia, k unitsUSA 3,697 1,274 1,249 2,937 4,468Asia 2,381 7,704 2,267 3,201 3,455
Origin of products sold in Europe, k unitsUSA 1,281 713 1,657 1,464 2,001Asia 1,574 2,207
Number of plants this roundUSA 17 13 10 16 13Asia 13 11 7 6 14
Number of plants next roundUSA 17 14 10 16 13Asia 13 12 7 6 14
Number of plants after next roundUSA 17 14 10 16 13Asia 13 12 7 6 14
Cost report
LogisticsCompany 1 Company 2 Company 3 Company 4 Company 5
Average logistics cost per sold product, USDProducts sold in USA 0 0 0 0 6.15Products sold in Asia 9.73 2.27 5.68 7.66 9.02Products sold in Europe 29.60 29.60 27.51 29.60 27.34
Production cost per unit, USDUSATech 1 50.90Tech 2 95.20 108 85.50Tech 3 60.35 99.78Tech 4 225 AsiaTech 1 41.45 37.53Tech 2 79.33 71.44Tech 3 95.74 63.85Tech 4
Contract manufacturing cost per unit, USDUSATech 1Tech 2 94.60Tech 3 77.16Tech 4 AsiaTech 1Tech 2Tech 3 92.27Tech 4
Average unit cost per sold product, USDUSATech 1 50.82 61.24 52.67 53.44 50.00Tech 2 96.15 105 92.73 73.58Tech 3 60.35 96.64Tech 4 Weighted average 79.57 90.24 57.52 76.58 86.69
AsiaTech 1 45.55 47.32 52.67 43.82 Tech 2 96.15 88.16 71.90Tech 3 94.51 63.85 96.64Tech 4 462 Weighted average 62.63 71.91 59.88 57.81 85.86
EuropeTech 1 50.82 53.44 Tech 2 96.15 105 116 92.73 71.90Tech 3 62.24 96.64Tech 4 Weighted average 73.23 105 79.20 72.09 83.67
Production scrap, %USATech 1 1.22Tech 2 1.54 1.63 1.39Tech 3 1.51 2.02Tech 4 2.10 AsiaTech 1 1.82 1.72Tech 2 2.13 2Tech 3 3.18 2.47Tech 4
Logistics details
Tech 1, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 9,833 2,123 2,967 5,913 412Production 0 0 0 2,904 0Contract manufacturing 0 0 0 0 0Imported from Asia 0 0 0 0 0Total products 9,833 2,123 2,967 8,817 412Sales in USA -843 -849 -1,068 -792 0Exported to Asia -1,645 -1,274 -1,249 -1,661 0Exported to Europe -648 0 0 -769 0Ending inventory 6,698 0 650 5,595 412Unsatisfied demand 0 0 0 0 0
Asia Beginning inventory 2,381 0 0 0 0Production 0 3,025 0 2,541 0Contract manufacturing 0 0 0 0 0Imported from USA 1,645 1,274 1,249 1,661 0Total products 4,026 4,299 1,249 4,202 0Sales in Asia -4,026 -4,299 -1,249 -4,202 0Exported to USA 0 0 0 0 0Exported to Europe 0 0 0 0 0Ending inventory 0.00 0 0 0 0Unsatisfied demand 0 1,179 0 0 0
Europe Imported from USA 648 0 0 769 0Imported from Asia 0 0 0 0 0Total products 648 0 0 769 0Sales in Europe -648 0 0 -769 0Unsatisfied demand 0 557 0 0 0
Tech 2, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 603 572 640 4,440 151
Production 6,545 4,433 0 704 0Contract manufacturing 0 1,953 0 0 0Imported from Asia 0 0 0 0 1,239Total products 7,148 6,958 640 5,144 1,390Sales in USA -1,462 -1,691 0 -1,134 -1,390Exported to Asia -2,052 0 0 -1,276 0Exported to Europe -633 -713 -640 -695 0Ending inventory 3,000 4,554 0 2,039 0.00Unsatisfied demand 0 0 0 0 1,210
Asia Beginning inventory 0 0 375 0 240Production 0 0 0 660 6,661Contract manufacturing 0 0 0 0 0Imported from USA 2,052 0 0 1,276 0Total products 2,052 0 375 1,936 6,900Sales in Asia -2,052 0 0 -1,936 -3,455Exported to USA 0 0 0 0 -1,239Exported to Europe 0 0 -375 0 -2,207Ending inventory 0 0 0.00 0 0Unsatisfied demand 0 0 0 0 0
Europe Imported from USA 633 713 640 695 0Imported from Asia 0 0 375 0 2,207Total products 633 713 1,016 695 2,207Sales in Europe -633 -713 -1,016 -695 -2,207Unsatisfied demand 0 0 80 0 0
Tech 3, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 0.00 0Production 0 5,005 7,150Contract manufacturing 0 0 1,150Imported from Asia 0 0 0Total products 0 5,005 8,300Sales in USA 0 -1,834 -1,831Exported to Asia 0 0 -4,468Exported to Europe 0 -1,016 -2,001Ending inventory 0 2,155 0Unsatisfied demand 0 0 0
Asia Beginning inventory 0 0 0Production 3,025 3,465 0Contract manufacturing 1,654 0 0Imported from USA 0 0 4,468Total products 4,679 3,465 4,468Sales in Asia -4,679 -2,267 -4,468Exported to USA 0 0 0Exported to Europe 0 -1,198 0Ending inventory 0 0 0Unsatisfied demand 3,566 0 4,100
Europe Imported from USA 0 1,016 2,001Imported from Asia 0 1,198 0Total products 0 2,215 2,001Sales in Europe 0 -2,215 -2,001Unsatisfied demand 0 0 0
Tech 4, k unitsCompany 1 Company 2 Company 3 Company 4 Company 5
USA Beginning inventory 0 Production 2,717 Contract manufacturing 0 Imported from Asia 0 Total products 2,717 Sales in USA 0 Exported to Asia 0 Exported to Europe 0 Ending inventory 2,717 Unsatisfied demand 0
Asia Beginning inventory 157
Production 0 Contract manufacturing 0 Imported from USA 0 Total products 157 Sales in Asia 0 Exported to USA 0 Exported to Europe 0 Ending inventory 157 Unsatisfied demand 0
Europe Imported from USA 0 Imported from Asia 0 Total products 0 Sales in Europe 0 Unsatisfied demand 0
Cost report – Transportation cost incl. tariffs per sold product, USD
Company 1 Company 2 Company 3 Company 4 Company 5USA Tech 1 0 0 0 0 Tech 2 0 0 0 14.26Tech 3 0 0Tech 4 Asia Tech 1 6.54 4.74 16 6.33 Tech 2 16 10.55 0Tech 3 0 0 16Tech 4 Europe Tech 1 29.60 29.60 Tech 2 29.60 29.60 28.01 29.60 25.30Tech 3 27.27 29.60Tech 4
