Solar Proforma Model.xls

summary projections by year2004200420052005growth20062006growth projectedratioprojectedratiorelativeprojectedratiorelative operating statement revenues in us$11,463,805100.0%$21,868,854100.0%90.8%$38,107,837100.0%74.3% revenues94,862,988100.0%180,964,766100.0%90.8%315,342,351100.0%74.3% labor costs - direct2,889,4783.0%5,199,9532.9%80.0%9,756,6833.1%87.6% materials cost47,907,20850.5%85,802,95147.4%79.1%149,608,33347.4%74.4% factory overhead3,139,4783.3%5,199,9532.9%65.6%9,756,6833.1%87.6% gross margin as %43.1%43.1%46.8%46.8%8.6%46.8%46.4%0.0% g mav = monthly assigned value; pav = project assigned value; plm = project learning model; yav = yearly assigned value note: the word, “assigned,“ used here, means that it is a variable of the financial model that can be changed to immediately get the calculated effect. the number of assigned production lines in the factory as input by the management. the number of shifts that lines are run to meet the backlog and the orders anticipated in the next month. the hours (50, 45, 30, 20, or 0) per week that line(s) are run to meet the backlog and the orders anticipated through the next month. the productivity of each line as measured by the number of units a line can produce in 1 hour. the number of hours each line is up (not down due to power, parts, people, ) for the month. the number of units produced by each line as the product of the line uptime, units per hour, and the number of lines. the number of units rejected due to manufacturing and/or raw material flaws. the number of finished and good units produced in excess of bookings. the number of units available for sale as the sum of the inventory plus the units produced minus the units rejected. the bookings (orders secured by the company for later shipment) often mistakenly referred to as “sales“. the numbers of weeks at the current level of lines and shifts to fulfill all unfilled units or, if negative, to work off excess inventory. the percent of the total of number of units available for sale that can (and will be) shipped in the current month against unfilled orders. the revenues in rmb, below, divided by the yearly assigned exchange rate value of rmb to us dollars. “revenues“ are also referred to “sales“, and, in the uk, s “turnover“. revenues are production output times the average factory price adjusted for bad debts (rather than waiting and carring it on the balance sheet and the attendant adjustments). the lines times workers per line times workers hourly cost times hours in a month adjusted for overtime and december bonus and half pay for the winter. the unit cost is first learning-adjusted and then multiplied by the units produced times the cost inflated due to units rejected (i.e., 1-units slavaged). the yearly assigned overhead percentage value times the direct labor of the first regular month of production and is fixed for the remainder of the year. simply, the sum of the factory costs (labor, materials, and factory overhead) divided by the monthly revenues. the yearly assigned percentage value times the revenues adjusted (by expanding) for future bad debts. sometimes absolutely assigned, but otherwise the yearly assigned percentage value times two months later revenues (bookings) adjusted (by expanding) for future bad debts. the yearly assigned percentage value times the revenues adjusted (by expanding) for future bad debts. the companys yearly assigned monthly interest cost of borrowing value times debt minus the banks yearly assigned interest rate value times the companys cash balance. the straight line depreciation method applied to the original acquisition cost of capital equipment over their project assigned months of life value. the yearly assigned percentage of net income before taxes (income minus all costs and depreciation) value as stipulated by applicable governments. the revenues, above, minus all costs including interest, depreciation, and taxes. the net income after taxes in rmb, above, divided by the yearly assigned exchange rate value of rmb to us dollars. simply, the net income as a percentage of the revenues. receivables are collected here according to the yearly assigned aging values for 0, 30, 60, 120 days and are adjusted for bad debt. this is monthly assigned value for any proceeds (as a positive value) or to (as a negative value) investors. the sum of receivables and investor cash (interest is figured in total cash out, below). the sum of all expenditures which is every item in the operating statement, except depreciation, plus capital equipment outlays. the total cash in, above, minus the total cash out, above. the previous months cash in bank plus the net cash in, above. the cash in bank in rmb, above, divided by the yearly assigned exchange rate value of rmb to us dollars. the previous months cash in bank plus the net cash in, above. the receivables in rmb, below, divided by the yearly assigned exchange rate value of rmb to us dollars. the previous months receivables plus the revenues for the current month minus the receivables cash in. these are the outstanding receivables. the materials needed in advance for the next few weeks of production according to the reorder level. the direct labor content of the finished goods inventory (needed to be separate for computing cost of goods sold). the raw material content of the finished goods inventory (needed to be separate for computing cost of goods sold). the monthly assigned schedule of purchases of capital equipment values reduced by the calculated amount of the depreciation the unused portion of any tax credits (carried as an asset because it will be consumed in the current year). the monthly assigned debt (as positive) and retirement thereof (as negative) values. the previous months payables plus the current months materials (all other payables are paid in the current month so never appear here) minus the previous months materials. the payables in rmb, above, divided by the yearly assigned exchange rate value of rmb to us dollars. the sum of assets (cash in bank + receivables + net equipment) minus liabilities (debt + payables). also called “book value“ or “shareholders equity“. the net worth in rmb, above, divided by the yearly assigned exchange rate value of rmb to us dollars. an estimated public market capitalization value based on a yearly assigned price to earnings multiple value applied to the companys earnings of the past 12 months. us$ exchange rate: us$ 1.00 =1.000 financial summary20042005 operating statements revenues$11,463,805$21,868,854 gross margin as %43.1%46.8% net income at$3,268,109$6,137,574 net income at as %28.5%28.1% balance sheets assets cash in bank$2,031,632$5,808,393 receivables$1,931,340$4,227,712 inventory$373,306$1,747,930 equipment (net)$402,820$859,349 total$4,739,098$12,643,384 liabilities payables$766,910$655,268 net worth$3,972,188$11,988,116 total$4,739,098$12,643,384 other production output in units26,61751,596 capitalization pe = 15$49,021,642$92,063,615 capitalization pe = 10$32,681,094$61,375,743 capitalization pe = 5$16,340,547$30,687,872 growth2006growth 90.8%$38,107,83774.3% 8.6%46.4%-1.0% 87.8%$10,636,39373.3% -1.6%27.9%-0.5% 185.9%$12,584,862116.7% 118.9%$6,779,26560.4% n/m $2,500,208n/m 113.3%$832,494-3.1% 166.8%$22,696,83079.5% -14.6%$425,344-35.1% 201.8%$19,973,61666.6% 166.8%$22,696,83079.5% 93.8%90,00074.4% 87.8%$159,545,89773.3% 87.8%$106,363,93173.3% 87.8%$53,181,96673.3% rmb exchange rate: us$ 1.00 =8.275 financial summary2004 operating statements revenues94,862,988 gross margin as %43.1% net income at27,043,606 net income at as %28.5% balance sheets assets cash in bank16,811,754 receivables15,981,840 inventory373,306 equipment (net)3,333,333 total36,500,233 liabilities payables6,346,178 net worth32,869,856 total39,216,034 other production output in units26,617 capitalization pe = 15405,654,085 capitalization pe = 10270,436,057 capitalization pe = 5135,218,028 2005growth2006growth 180,964,76690.8%315,342,35174.3% 46.8%8.6%46.4%-1.0% 50,788,42787.8%88,016,15373.3% 28.1%-1.6%27.9%-0.5% 48,064,452185.9%104,139,734116.7% 34,984,319118.9%56,098,42160.4% 14,464,121n/m 20,689,221n/m 7,111,111113.3%6,888,889-3.1% 104,624,003186.6%187,816,26579.5% 5,422,342-14.6%3,519,723-35.1% 99,201,661201.8%165,281,67566.6% 104,624,003166.8%168,801,39861.3% 51,59693.8%90,00074.4% 761,826,41287.8%1,320,242,30073.3% 507,884,27587.8%880,161,53373.3% 253,942,13787.8%440,080,76773.3% hk$ exchange rate: us$ 1.00 =7.780 financial summary2004