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TIME Group Inc. adheres to the key principle 'Technology, Industry and export are the lifeblood of TIME Group Inc.' the State Secretary. Through development for many years, the company has formed a set of strict management system for technological development, products manufacturing, quality control, financial operation, marketing and customer service. At present, our welding machines passed the national '3C' certification and named 'Beijing Famous Brand' for four consecutive years. In 1995, we passed the ISO9001 quality system certification. In 2008, we passed Environmental Management System (ISO14001:2004) and Occupational Health and Safety Management System (OHSMS18001:2001) certification. Therefore TIME Group Inc. becomes the first corporation in welder manufacturing industry in China who had passed the certification of above management systems. Among the welder enterprises in China, TIME Group Inc. is the only one who established the mobile postdoctoral center. There are more than 40 sale and service subsidiaries, sales and service network all over the country.
TIME Group Inc. started development, production and sales of IGBT inverter welder in 1993. Now all our produces are IGBT inverter welders. Adhere to the product development objective of 'Domestic first-class, advanced in the world, seeking the first instead of the only' and along the development route of constantly digital, green, automation and innovative, TIME Group Inc. provides high-quality perfect welders to the society. Currently the IGBT inverter welders of TIME Group Inc. ranks for the first of domestic total sales. TIME Group Inc. has become the largest inverter welder R&D, manufacturing and sales enterprises for many years. There are over ten series and more than 70 kinds of welding machines. In 2003, TIME Group Inc. adopted digital DSP technology in the field of domestic welders, occupying the commanding heights of domestic welding technology. In October 2007, we formed the Jinan Times New ERA Technology Co., Ltd, which is now a wholly owned subsidiary of TIME Group Inc., mainly engaged in the development, production and sales of large welding equipment, special welders, CNC cutting machine. The large welding equipment of TIME Group Inc. has been widely used in wind power, boilers, pressure vessels and other industries. In 2013, our third generation TD series digital welders were pushed to the market by batch, occupying the commanding heights of the domestic digital welders.
In 2009, we invested several hundred million RMB in Jinan Hi-tech Development Zone for hundreds of acres of land for construction of the world's most advanced welder manufacturing base with annual output of 300,000 units. The base was officially put into production in 2013. After continuous exploration and research, the TIME welding robots went debut in 2010 Essen Welding Show, which got the market and user's attention at once. With years of experience in manufacturing of welders and auxiliary machinery, the reliability, integration capabilities of our robots and spare parts supply can be effectively guaranteed. TIME welder robots are perfect combination of sophisticated welding skills and efficient automation. In the same year, we promoted the development of civil welder market, introducing a full line of light and durable small welders, which reinforces TIME brand position in the field of civilian welder, broadening the application of TIME products.
Under the quality policy of 'outstanding high-tech products, high quality, customer satisfaction,' our welders provide a guarantee in electricity, water, shipbuilding, metallurgy, chemical industry, bridges, oil and gas, installation and many other construction industry, and were widely used in the 'Three Gorges Project', ' South-to-North Water Transfer Project', 'Olympic Venue Construction' and other key projects. Benefiting from high technology and competition compared with similar foreign products, our welder have been exported to over 40 countries such as Russia, Netherlands, Australia, Thailand, Malaysia, Brazil, South Africa, Israel, India and so on since 2003.
Once ground-breaking Chinese semiconductor designer Tsinghua Unigroup Co. Ltd. has defaulted on another bond, adding to an already severe debt crisis that threatens to force the troubled company into bankruptcy reorganization.
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The state-owned enterprise (SOE), backed by prestigious Tsinghua University, said(link in Chinese) it failed to repay the annual interest due Thursday on a 5 billion yuan ($764.5 million) onshore bond, citing tight cash flow. The five-year bond was issued in 2018 with a coupon rate of 5.2%, meaning the interest due was merely 260 million yuan.
Also Thursday, one of its offshore subsidiaries failed to repay the principal of a $450 million dollar bond, triggering a cross default of three bonds worth a total of $2 billion issued by Tsinghua Unic Ltd, another offshore subsidiary.
Last month, Tsinghua Unigroup defaulted on a 1.3 billion yuan onshore bond, marking its first bond default and sparking investor concerns over its financial staying-power.
The latest defaults by the Beijing-based company and its subsidiaries come as several other high-profile SOEs have struggled to repay their debts in recent weeks. This has sent shockwaves through China's corporate bond market, weakening investors' confidence and leading to selloffs of SOE bonds and cancellations of new bond issuance plans.
Read more
State Firms Jettison Bond Issuance Plans After Peer's Shocking Default
Some analysts predicted (link in Chinese) last month that Tsinghua Unigroup could end up entering bankruptcy reorganization, similar to what happened to another leading university-backed company, Peking University Founder Group Corp., citing liquidity problems.
The cash flow generated from Tsinghua Unigroup's own businesses was insufficient, and external supports were fragile, the research arm of Industrial Bank Co. Ltd. said in a November report.
The company is too dependent on financing to support its cash flow, analysts at China Industrial Securities Co. Ltd. wrote in a report published last month. 'As a holding company, Tsinghua Unigroup carried out an aggressive expansion by adding debt from 2013 to 2019,' they said.
Tsinghua Unigroup once stood in the vanguard of China's hopes to develop a home-grown semiconductor industry. Since 2013, it had embarked on a steady stream of acquisitions and investments to diversify the business but it failed to generate income quickly in an industry characterized by big initial investments and long payback periods.
The state-owned enterprise (SOE), backed by prestigious Tsinghua University, said(link in Chinese) it failed to repay the annual interest due Thursday on a 5 billion yuan ($764.5 million) onshore bond, citing tight cash flow. The five-year bond was issued in 2018 with a coupon rate of 5.2%, meaning the interest due was merely 260 million yuan.
Also Thursday, one of its offshore subsidiaries failed to repay the principal of a $450 million dollar bond, triggering a cross default of three bonds worth a total of $2 billion issued by Tsinghua Unic Ltd, another offshore subsidiary.
Last month, Tsinghua Unigroup defaulted on a 1.3 billion yuan onshore bond, marking its first bond default and sparking investor concerns over its financial staying-power.
The latest defaults by the Beijing-based company and its subsidiaries come as several other high-profile SOEs have struggled to repay their debts in recent weeks. This has sent shockwaves through China's corporate bond market, weakening investors' confidence and leading to selloffs of SOE bonds and cancellations of new bond issuance plans.
Read more
State Firms Jettison Bond Issuance Plans After Peer's Shocking Default
Some analysts predicted (link in Chinese) last month that Tsinghua Unigroup could end up entering bankruptcy reorganization, similar to what happened to another leading university-backed company, Peking University Founder Group Corp., citing liquidity problems.
The cash flow generated from Tsinghua Unigroup's own businesses was insufficient, and external supports were fragile, the research arm of Industrial Bank Co. Ltd. said in a November report.
The company is too dependent on financing to support its cash flow, analysts at China Industrial Securities Co. Ltd. wrote in a report published last month. 'As a holding company, Tsinghua Unigroup carried out an aggressive expansion by adding debt from 2013 to 2019,' they said.
Tsinghua Unigroup once stood in the vanguard of China's hopes to develop a home-grown semiconductor industry. Since 2013, it had embarked on a steady stream of acquisitions and investments to diversify the business but it failed to generate income quickly in an industry characterized by big initial investments and long payback periods.
Contact reporter Guo Yingzhe (yingzheguo@caixin.com)
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Tsinghua Unisplendour Driver Download
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