MIRA INFORM REPORT

 

 

Report Date :           

20.12.2011

 

IDENTIFICATION DETAILS

 

Name :

E-TON SOLAR TECH. CO., LTD

 

 

Registered Office :

No. 498, Sec. 2 Bentian Road, Annan District, Tainan

 

 

Country :

Taiwan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.12.2001

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

development, manufacture and distribution of solar cells.

 

 

No. of Employees :

1,073  Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Taiwan

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

E-Ton Solar Tech. Co., Ltd

No. 498,

Sec. 2 Bentian Road

Annan District

Tainan,

Taiwan

Tel:       886-6-3840777

Fax:      886-6-3840872

Web:    www.e-tonsolar.com

           

 

Synthesis

 

Employees:                  1,073

Company Type:            Public Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             Ji-Ee Industry Co Ltd

Traded:                         Gre Tai Security Market: 3452

Incorporation Date:         26-Dec-2001

Auditor:                        Deloitte & Touche LLP   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Taiwanese New Dollar

Annual Sales:               623.8  1

Net Income:                   (89.0)

Total Assets:                 697.7  2

Market Value:               155.2

(25-Nov-2011)

 

 

Business Description     

 

E-Ton Solar Tech. Co., Ltd. is a Taiwan-based company primarily engaged in the development, manufacture and distribution of solar cells. The Company provides five-inch single crystalline solar cells, five-inch multi crystalline solar cells, six-inch single crystalline solar cells and six-inch multi crystalline solar cells. The Company also involves in the trading of commodities and raw materials. The Company's solar cells are mainly used in space, national defense, power generation system, as well as consumer products, among others. The Company distributes its products principally in Asia, Europe and the Americas. For the nine months ended 30 September 2010, E-Ton Solar Tech Company Limited's revenues increased 45% to NT$13.42B. Net loss totaled NT$2.55B, up from NT$563.9M. Revenues reflect higher sales volume due to increased market demand for the Company's products. Net loss was offset by reflects higher selling, general & administrative expenses and inclusion of losses from valuation of financial liability as well as increased interest expenses.

 

Industry

Industry            Semiconductors

ANZSIC 2006:    2429 - Other Electronic Equipment Manufacturing

NACE 2002:      3210 - Manufacture of electronic valves and tubes and other electronic components

NAICS 2002:     334413 - Semiconductor and Related Device Manufacturing

UK SIC 2003:    3210 - Manufacture of electronic valves and tubes and other electronic components

US SIC 1987:    3674 - Semiconductors and Related Devices

 

           

Key Executives   

 

Name

Title

Shizhang Wu

Chairman of the Board, Strategic Chief Executive Officer

Guoshi Liu

Deputy General Manager-Operation

Stephen Wu

Chairman & President

Yizhang Guo

Independent Director

Alex Hsu

Chairman

 

 

                                          Significant Developments 

Topic

#*

Most Recent Headline

Date

Accounting Issues/SEC Inquiries

1

E-Ton Solar Tech. Co., Ltd Announces Change of Accounting Auditor

24-Jun-2011

Officer Changes

5

E-Ton Solar Tech. Co., Ltd Announces Resignation of CEO

24-Jun-2011

Equity Financing / Related

3

E-Ton Solar Tech. Co., Ltd's Subsidiary to Issue New Shares

8-Jul-2011

Equity Investments

4

Inventec Corporation and Subsidiary to Acquire Equity Shares of E-Ton Solar Tech. Co., Ltd

27-Jan-2011

Debt Financing / Related

2

E-Ton Solar Tech. Co., Ltd to Apply for Syndicated Loan

9-Dec-2011

 

 

* number of significant developments within the last 12 months   

 

 

News 

 

Title

Date

One Stock Added/Sixteen Deleted from Ardour Global Alternative Energy Index in Quarterly Rebalancing
PR Web (369 Words)

8-Dec-2011

Global Market for Solar Panels to Reach US$71.8 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.
PR Web (930 Words)

12-Oct-2011

TAIWAN'S INVENTEC PREDICTS ROBUST PC SHIPMENTS IN H2 2011
Asia Pulse Businesswire (438 Words)

18-Feb-2011

TAIWAN'S INVENTEC TO BAG 47.9% STAKE IN SOLAR CELL MAKER E-TON
Asia Pulse Businesswire (277 Words)

28-Jan-2011

BRIEFING - ASIA ENERGY - JAN 28, 2011
Asia Pulse Businesswire (1076 Words)

28-Jan-2011

 

 

Financial Summary    

 

As of 30-Sep-2011

Key Ratios                               Company         Industry

Current Ratio (MRQ)                   0.73                  3.90

Quick Ratio (MRQ)                     0.54                  3.02

Debt to Equity (MRQ)                 0.46                  0.21

Sales 5 Year Growth                  76.10                11.04

Net Profit Margin (TTM) %           -31.47               19.30

Return on Assets (TTM) %          -22.76               15.21

Return on Equity (TTM) %           -40.08               21.72

 

Stock Snapshot

 

 

Traded: Gre Tai Security Market: 3452

 

As of 25-Nov-2011

   Financials in: TWD

Recent Price

9.85

 

EPS

3.81

52 Week High

53.00

 

Price/Sales

0.24

52 Week Low

9.11

 

Price/Book

0.31

Avg. Volume (mil)

0.0024

 

Beta

1.37

Market Value (mil)

4,722.58

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

-21.83%

-12.25%

13 Week

-38.24%

-32.23%

52 Week

-73.66%

-67.58%

Year to Date

-79.39%

-72.74%

 

1 - Profit & Loss Item Exchange Rate: USD 1 = TWD 31.49704

2 - Balance Sheet Item Exchange Rate: USD 1 = TWD 29.1565

 

 

Corporate Overview

 

Location

No. 498,

Sec. 2 Bentian Road

Annan District

Tainan, Taiwan

Tel:       886-6-3840777

Fax:      886-6-3840872

Web:    www.e-tonsolar.com

           

Quote Symbol - Exchange

3452 - Gre Tai Security Market

Sales TWD(mil):            19,648.7

Assets TWD(mil):          20,342.4

Employees:                   1,073

Fiscal Year End:            31-Dec-2010

Industry:                        Semiconductors

Incorporation Date:         26-Dec-2001

Company Type:             Public Subsidiary

Quoted Status:              Quoted

Chairman of the Board,

Strategic Chief Executive Officer: Shizhang Wu

 

Company Web Links

·         Company Contact/E-mail

·         Corporate History/Profile

·         Financial Information

·         Home Page

·         Investor Relations

·         News Releases

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Market Data

·         Subsidiaries

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2429     -          Other Electronic Equipment Manufacturing

 

NACE 2002 Codes:

3210     -          Manufacture of electronic valves and tubes and other electronic components

 

NAICS 2002 Codes:

334413  -          Semiconductor and Related Device Manufacturing

 

US SIC 1987:

3674     -          Semiconductors and Related Devices

 

UK SIC 2003:

3210     -          Manufacture of electronic valves and tubes and other electronic components

 

Business Description

E-Ton Solar Tech. Co., Ltd. is a Taiwan-based company primarily engaged in the development, manufacture and distribution of solar cells. The Company provides five-inch single crystalline solar cells, five-inch multi crystalline solar cells, six-inch single crystalline solar cells and six-inch multi crystalline solar cells. The Company also involves in the trading of commodities and raw materials. The Company's solar cells are mainly used in space, national defense, power generation system, as well as consumer products, among others. The Company distributes its products principally in Asia, Europe and the Americas. For the nine months ended 30 September 2010, E-Ton Solar Tech Company Limited's revenues increased 45% to NT$13.42B. Net loss totaled NT$2.55B, up from NT$563.9M. Revenues reflect higher sales volume due to increased market demand for the Company's products. Net loss was offset by reflects higher selling, general & administrative expenses and inclusion of losses from valuation of financial liability as well as increased interest expenses.

 

More Business Descriptions

·         Development and production of solar cells

·         Solar/Thermal/Wind

 

 

 

Financial Data

Financials in:

TWD(mil)

 

Revenue:

19,648.7

Net Income:

-2,803.4

Assets:

20,342.4

Long Term Debt:

4,504.9

 

Total Liabilities:

12,481.0

 

Working Capital:

4.8

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

47.4%

NA

-19.7%

 

Market Data

Quote Symbol:

3452

Exchange:

Gre Tai Security Market

Currency:

TWD

Stock Price:

9.9

Stock Price Date:

11-25-2011

52 Week Price Change %:

-73.7

Market Value (mil):

4,722,581.0

 

SEDOL:

B06BMV1

ISIN:

TW0003452009

 

Equity and Dept Distribution:

FY'04 B/S & C/F reclassified. 07/2006, 42% stock dividend. Q205 B/S reclassified. 08/2007, 50% stock dividend. 07/2005, 5% stock dividend. 11/2005, Rights Issue, 11.508 new shares for every 100 shares held @ TWD175 (Factor:1.034630) FY'06 I/S restated and B/S reclassified. 8/2008, 49.067% stock dividend.

 

 

Subsidiaries

Company

Percentage Owned

Country

Gloria solar International Holding Inc

50.76%

CAYMAN ISLANDS

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP, Deloitte & Touche

 

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Ji-Ee Industry Co Ltd
E-Ton Solar Tech. Co., Ltd

E-Ton Solar Tech. Co., Ltd 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Ji-Ee Industry Co Ltd

Parent

Tainan City, Tainan City

Taiwan

Miscellaneous Capital Goods

 

500

 

E-Ton Solar Tech. Co., Ltd

Subsidiary

Tainan

Taiwan

Semiconductors

623.8

1,073

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Alex Hsu

 

Chairman

Chairman

 

Shizhang Wu

 

Chairman of the Board, Strategic Chief Executive Officer

Chairman

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Wu Shizhang has been Chairman of the Board and Strategic Chief Executive Officer in E-Ton Solar Tech. Co., Ltd since February 2006. Wu holds a Master's degree in Mechanical Engineering from National Cheng Kung University, Taiwan. Wu is also Chairman of the Board in other companies including ADEMA TECHNOLOGIES, INC. and GLORIA SOLAR INTERNATIONAL HOLDING. INC., and GLORIA SOLAR COMPANY (DELAWARE) COMPANY. LTD.



M Mechanical Engineering, National Cheng Kung University

Yizhang Guo

 

Independent Director

Director/Board Member

 

 

Kerang Li

 

Independent Director

Director/Board Member

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Li Kerang has been serving as Independent Director in E-Ton Solar Tech. Co., Ltd since June 16, 2005. Li is an Honorary Professor in National Cheng Kung University, Taiwan. Li holds a Master's degree in Engineering from Texas State University, the United States.



M , Texas State University

Zheru Ma

 

Independent Director

Director/Board Member

 

 

Yinghui Wu

 

Director

Director/Board Member

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Wu Yinghui has been serving as Director in E-Ton Solar Tech. Co., Ltd since December 19, 2001. Wu is also Special Assistant to Chairman of the Board in the Company. Wu is also serving as Director in three other companies, including ADEMA TECHNOLOGIES. INC. and GLORIA SOLAR INTERNATIONAL HOLDING . INC. Wu holds a Master of Business Administration (MBA) from the University of Illinois at Urbana-Champaign, the United States.



MBA , University of Illinois at Urbana-Champaign

Jianchao Xu

 

Director

Director/Board Member

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Xu Jianchao has been serving as Director in E-Ton Solar Tech. Co., Ltd since January 20, 2011. He is also serving as General Manager in JI-EE INDUSTRY CO.,LTD. He holds Master’s degree in Aeronautical Engineering from University of Michigan, United States.



M Aeronautical Engineering, University of Michigan

Mingxing Yang

 

Director

Director/Board Member

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Yang Mingxing is Director in E-Ton Solar Tech. Co., Ltd. Yang was External Director in the Company. Yang is also serving as Professor of National Cheng Kung University, Taiwan. Yang holds a Ph.D. in Engineering.

 

Executives

 

Name

Title

Function

 

Shizhang Wu

 

Chairman of the Board, Strategic Chief Executive Officer

Chief Executive Officer

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Wu Shizhang has been Chairman of the Board and Strategic Chief Executive Officer in E-Ton Solar Tech. Co., Ltd since February 2006. Wu holds a Master's degree in Mechanical Engineering from National Cheng Kung University, Taiwan. Wu is also Chairman of the Board in other companies including ADEMA TECHNOLOGIES, INC. and GLORIA SOLAR INTERNATIONAL HOLDING. INC., and GLORIA SOLAR COMPANY (DELAWARE) COMPANY. LTD.



M Mechanical Engineering, National Cheng Kung University

Stephen Wu

 

Chairman & President

President

 

 

Jinyao Cai

 

General Manager

Division Head Executive

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Cai Jinyao has been General Manager in E-Ton Solar Tech. Co., Ltd since August 2005. Cai was Director in the Company. Cai holds a Ph.D. in Electrical Engineering from University of Stuttgart, Germany. Cai is also Chairman of the Board and Chief Executive Officer in two other companies.



PHD Electrical Engineering, Universitaet Stuttgart

Frank Wen

 

General Manager

Division Head Executive

 

 

Yinyi Zhao

 

General Manager

Division Head Executive

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Zhao Yinyi has been General Manager in E-Ton Solar Tech. Co., Ltd since March 2010. Zhao is also Chief Executive Officer in another company, Chief Executive Officer and Director in Gloria Soalr International Holding, and Director in GLORIA SOLAR INTERNATIONAL HOLDING (EUROPE) COOPERATIVE U.A. Zhao holds a Master of Business Administration from Purdue University, the United States.



MBA , Purdue University

Guoshi Liu

 

Deputy General Manager-Operation

Other

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Liu Guoshi has been Deputy General Manager-Operation in E-Ton Solar Tech. Co., Ltd since October 2009. Liu is also General Manager in another company and Chief Operating Officer in Gloria Solar International Holding.

Laihuang Luo

 

Deputy General Manager-Finance

Other

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Luo Laihuang has been Deputy General Manager-Finance in E-Ton Solare Techn. Co., Ltd since October 24, 2008. Luo holds a Mater of Business Administration from Manchester Business School,University of Manchester, U.K.



, University of Manchester

Tongqing Zeng

 

Deputy General Manager-R&D

Other

 

 

Reuters Biography (E-Ton Solar Tech. Co., Ltd)

Zeng Tongqing has been Deputy General Manager-R&D in E-Ton Solar Tech. Co., Ltd since March 2010. Zeng holds a Ph.D in Mechanical Engineering from Massachusetts Institute of Technology, the United States.



PHD Mechanical Engineering, Massachusetts Institute of Technology

 

 

Significant Developments

 

E-Ton Solar Tech. Co., Ltd to Apply for Syndicated Loan Dec 09, 2011

 

E-Ton Solar Tech. Co., Ltd announced that it will apply for a syndicated loan of NTD 2 billion to NTD 2.5 billion, with a term of three to five years.

 

E-Ton Solar Tech. Co., Ltd's Subsidiary to Issue New Shares Jul 08, 2011

 

E-Ton Solar Tech. Co., Ltd announced that its subsidiary, GLORIA SOLAR INTERNATIONAL HOLDING,INC., will issue 41,988,427 new shares with par value of NTD 10 per share and an issue price of USD 0.3 per share, to raise USD 12,596,528 for capital injection.

 

E-Ton Solar Tech. Co., Ltd Announces Change of Accounting Auditor Jun 24, 2011

 

E-Ton Solar Tech. Co., Ltd announced the change of its accounting auditor from Deloitte to KPMG Taiwan.


E-Ton Solar Tech. Co., Ltd Announces Resignation of CEO Jun 24, 2011

 

E-Ton Solar Tech. Co., Ltd announced the resignation of Wu Shizhang as Chief Executive Officer, effective June 24, 2011.

 

E-Ton Solar Tech. Co., Ltd Announces Change of General Manager Jun 24, 2011

 

E-Ton Solar Tech. Co., Ltd announced the change of General Manager from Mr. Xu Xinqun to Mr. Wen Qingzhang, effective June 24, 2011.

 

E-Ton Solar Tech. Co., Ltd Announces Change of Chairman Jun 24, 2011

 

E-Ton Solar Tech. Co., Ltd announced the change of Chairman of the Board from Wu Shizhang to Xu Xinqun, effective June 24, 2011.

 

E-Ton Solar Tech. Co., Ltd Announces No Dividend Payment for FY 2010 Apr 20, 2011

 

E-Ton Solar Tech. Co., Ltd announced that it will pay no dividend to shareholders for fiscal year 2010.

 

E-Ton Solar Tech. Co., Ltd Appoints General Manager Mar 22, 2011

 

E-Ton Solar Tech. Co., Ltd announced the appointment of Mr. Xu Xinqun as General Manager, effective March 22, 2011.

 

E-Ton Solar Tech. Co., Ltd Announces Resignation of General Manager Mar 21, 2011

 

E-Ton Solar Tech. Co., Ltd announced the resignation of Mr. Zhao Yiyin as General Manager, effective March 21, 2011.

 

Inventec Corporation and Subsidiary to Acquire Equity Shares of E-Ton Solar Tech. Co., Ltd Jan 27, 2011

 

Inventec Corporation announced that it will acquire 160 million new shares issued by E-Ton Solar Tech. Co., Ltd in private placement at totally NTD 3.52 billion; the Company's subsidiary, a Taiwan-based investment company, will acquire 20 million shares of the same target company at NTD 440 million. In the private placement, E-Ton Solar Tech. Co., Ltd will totally issue 230 million new shares, which represent 47.97% of its total shares outstanding after the issuance.

 

E-Ton Solar Tech. Co., Ltd Prices Private Placement Jan 27, 2011

 

E-Ton Solar Tech. Co., Ltd announced that it has priced its 230 million common shares to be issued in private placement at NTD 22 per share, to raise NTD 5.06 billion.

 

Hon Hai Precision Industry Co., Ltd. Subsidiaries Cancel Equity Acquisition Plan Jan 27, 2011

 

Hon Hai Precision Industry Co., Ltd. announced that its subsidiaries, four international investment companies, will cancel their plan of respectively acquiring 90 million, 15 million, 18 million and 30 million shares of E-Ton Solar Tech. Co., Ltd. The subsidiaries would respectively hold a 16.38%, a 2.73%, a 3.276 and a 5.46% stake in the target company by holding those shares.


CyberTAN Technology Inc. to Acquire Equity Shares Jan 25, 2011

 

CyberTAN Technology Inc. announced that it plans to acquire 49 million shares of E-Ton Solar Tech. Co., Ltd (Company A) in Company A's private placement, to hold an 8.92% stake in Company A.

 

Hon Hai Precision Industry Co., Ltd. Subsidiaries Acquire Equity Shares Jan 25, 2011

 

Hon Hai Precision Industry Co., Ltd. announced that its subsidiaries, four international investment companies, have respectively acquired 90 million, 15 million, 18 million and 30 million shares of E-Ton Solar Tech. Co., Ltd, and thus respectively hold a 16.38%, a 2.73%, a 3.276 and a 5.46% stake by holding the newly acquired shares.

 

E-Ton Solar Tech. Co., Ltd to Issue New Shares in Private Placement Dec 23, 2010

 

E-Ton Solar Tech. Co., Ltd announced that it will issue 300 million new shares in private placement, at a price of NTD 20 per share.

 

E-Ton Solar Tech. Co., Ltd to Issue Unsecured Convertible Corporate Bonds in Private Placement Dec 23, 2010

 

E-Ton Solar Tech. Co., Ltd announced that it plans to issue up to NTD 6 billion worth of unsecured convertible corporate bonds, with par value of NTD 100,000 per bond in private placement.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Restated Normal
31-Dec-2008

Restated Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Gross Revenue

629.4

426.1

538.9

186.3

104.8

    Sales Returns and Allowances

-5.6

-22.5

-12.1

-4.5

-1.1

Revenue

623.8

403.5

526.7

181.9

103.7

Total Revenue

623.8

403.5

526.7

181.9

103.7

 

 

 

 

 

 

    Cost of Revenue

577.9

417.4

450.5

158.0

78.5

Cost of Revenue, Total

577.9

417.4

450.5

158.0

78.5

Gross Profit

45.9

-13.9

76.2

23.9

25.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

34.1

31.8

9.7

2.2

1.2

Total Selling/General/Administrative Expenses

34.1

31.8

9.7

2.2

1.2

Research & Development

3.2

6.7

13.8

3.7

1.1

    Impairment-Assets Held for Use

181.6

78.2

0.0

-

-

Unusual Expense (Income)

181.6

78.2

0.0

-

-

    Other, Net

-

0.0

0.0

0.0

0.0

Other Operating Expenses, Total

-

0.0

0.0

0.0

0.0

Total Operating Expense

796.7

534.1

474.0

163.9

80.7

 

 

 

 

 

 

Operating Income

-172.9

-130.5

52.8

17.9

22.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-6.2

-4.8

-8.8

-5.6

-0.5

    Interest Expense, Net Non-Operating

-6.2

-4.8

-8.8

-5.6

-0.5

        Interest Income - Non-Operating

0.1

0.1

1.2

2.9

0.7

        Investment Income - Non-Operating

-3.6

0.2

1.6

7.9

1.3

    Interest/Investment Income - Non-Operating

-3.5

0.3

2.8

10.8

2.0

Interest Income (Expense) - Net Non-Operating Total

-9.7

-4.5

-6.0

5.1

1.5

Gain (Loss) on Sale of Assets

-0.7

0.0

0.0

0.5

0.4

    Other Non-Operating Income (Expense)

-0.4

3.0

1.8

0.0

0.0

Other, Net

-0.4

3.0

1.8

0.0

0.0

Income Before Tax

-183.7

-132.1

48.5

23.5

24.8

 

 

 

 

 

 

Total Income Tax

1.5

-2.6

6.2

0.2

2.4

Income After Tax

-185.3

-129.5

42.3

23.3

22.5

 

 

 

 

 

 

    Minority Interest

96.2

58.6

-3.8

0.0

0.0

Net Income Before Extraord Items

-89.0

-70.9

38.5

23.3

22.5

Net Income

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

243.8

185.2

137.4

128.8

121.0

Basic EPS Excl Extraord Items

-0.37

-0.38

0.28

0.18

0.19

Basic/Primary EPS Incl Extraord Items

-0.37

-0.38

0.28

0.18

0.19

Dilution Adjustment

0.0

0.0

-0.7

-

-

Diluted Net Income

-89.0

-70.9

37.7

23.3

22.5

Diluted Weighted Average Shares

243.8

185.2

147.9

128.8

122.1

Diluted EPS Excl Extraord Items

-0.37

-0.38

0.26

0.18

0.18

Diluted EPS Incl Extraord Items

-0.37

-0.38

0.26

0.18

0.18

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.01

0.05

0.09

Gross Dividends - Common Stock

0.0

0.0

1.9

6.0

11.1

Interest Expense, Supplemental

6.2

4.8

8.8

5.6

0.5

Interest Capitalized, Supplemental

-0.6

-3.5

-2.7

-0.9

0.0

Depreciation, Supplemental

19.9

12.4

8.6

2.9

1.5

Total Special Items

182.3

78.3

0.0

-0.5

-0.4

Normalized Income Before Tax

-1.4

-53.8

48.5

23.1

24.4

 

 

 

 

 

 

Effect of Special Items on Income Taxes

63.8

27.4

0.0

0.0

0.0

Inc Tax Ex Impact of Sp Items

65.3

24.8

6.2

0.2

2.3

Normalized Income After Tax

-66.8

-78.6

42.3

22.8

22.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.5

-20.0

38.5

22.9

22.1

 

 

 

 

 

 

Basic Normalized EPS

0.12

-0.11

0.28

0.18

0.18

Diluted Normalized EPS

0.12

-0.11

0.26

0.18

0.18

Amort of Intangibles, Supplemental

1.6

1.9

1.6

0.5

-

Research & Development Exp, Supplemental

3.2

6.7

13.8

3.7

1.1

Normalized EBIT

8.6

-52.3

52.8

17.9

22.9

Normalized EBITDA

30.1

-38.0

62.9

21.4

24.4

    Current Tax - Total

1.7

0.0

5.4

1.3

1.8

Current Tax - Total

1.7

0.0

5.4

1.3

1.8

    Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

    Other Tax

-0.1

-0.4

-0.7

-0.4

0.1

Income Tax - Total

1.5

-2.6

6.2

0.2

2.4

Interest Cost - Domestic

0.0

0.0

0.0

0.0

0.0

Service Cost - Domestic

0.0

0.0

0.0

0.0

0.0

Prior Service Cost - Domestic

-

-

-

-

0.0

Expected Return on Assets - Domestic

0.0

0.0

0.0

0.0

0.0

Transition Costs - Domestic

0.0

0.0

0.0

0.0

0.0

Domestic Pension Plan Expense

0.0

0.0

0.0

0.0

0.0

Defined Contribution Expense - Domestic

1.3

0.8

0.6

-

-

Total Pension Expense

1.3

0.8

0.6

0.0

0.0

Discount Rate - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Expected Rate of Return - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Compensation Rate - Domestic

2.50%

2.50%

2.50%

3.00%

3.00%

Total Plan Interest Cost

0.0

0.0

0.0

0.0

0.0

Total Plan Service Cost

0.0

0.0

0.0

0.0

0.0

Total Plan Expected Return

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

29.1565

31.985

32.818

32.4345

32.585

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

54.9

44.8

21.7

42.9

82.6

    Short Term Investments

0.0

0.2

0.1

5.9

6.8

Cash and Short Term Investments

54.9

45.0

21.8

48.9

89.4

        Accounts Receivable - Trade, Gross

112.1

95.7

54.3

30.8

12.3

        Provision for Doubtful Accounts

-32.6

-13.9

0.0

-0.1

0.0

    Trade Accounts Receivable - Net

79.5

81.8

54.2

30.7

12.3

    Notes Receivable - Short Term

-

-

0.0

0.0

0.0

Total Receivables, Net

79.5

81.8

54.2

30.7

12.3

    Inventories - Finished Goods

26.0

14.4

26.0

8.2

3.7

    Inventories - Work In Progress

36.2

13.3

10.4

21.2

6.4

    Inventories - Raw Materials

15.3

22.7

30.4

6.6

7.2

    Inventories - Other

-

-

-7.9

-0.5

-0.2

Total Inventory

77.5

50.4

59.0

35.4

17.1

Prepaid Expenses

30.7

100.9

73.9

22.4

4.8

    Restricted Cash - Current

0.1

0.1

0.3

0.0

-

    Deferred Income Tax - Current Asset

1.1

1.0

1.5

0.0

0.2

    Other Current Assets

13.2

14.5

11.4

7.0

1.4

Other Current Assets, Total

14.3

15.6

13.2

7.0

1.6

Total Current Assets

257.0

293.7

222.2

144.4

125.2

 

 

 

 

 

 

        Buildings

68.5

66.8

30.1

6.3

6.2

        Land/Improvements

3.4

4.6

1.5

0.0

-

        Machinery/Equipment

135.8

78.0

65.0

30.5

11.1

        Construction in Progress

50.6

90.5

68.2

89.4

16.9

    Property/Plant/Equipment - Gross

258.4

239.8

164.8

126.1

34.2

    Accumulated Depreciation

-47.6

-26.6

-15.6

-6.5

-3.5

Property/Plant/Equipment - Net

210.8

213.2

149.3

119.6

30.8

Goodwill, Net

0.0

112.3

174.8

0.0

-

Intangibles, Net

9.9

51.8

53.1

0.1

0.0

    LT Investment - Affiliate Companies

-

0.0

28.9

5.1

0.0

    LT Investments - Other

1.7

17.9

1.5

1.5

0.0

Long Term Investments

1.7

17.9

30.4

6.6

0.0

    Deferred Charges

0.6

0.8

0.8

0.5

0.1

    Pension Benefits - Overfunded

0.0

0.0

0.0

0.0

0.0

    Deferred Income Tax - Long Term Asset

1.2

1.1

0.0

1.1

0.0

    Restricted Cash - Long Term

3.0

0.1

0.1

0.0

-

    Other Long Term Assets

213.5

101.3

146.0

102.8

35.1

Other Long Term Assets, Total

218.3

103.3

147.0

104.5

35.2

Total Assets

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

Accounts Payable

53.1

50.6

12.5

5.3

5.5

Accrued Expenses

21.7

8.6

11.3

3.9

1.6

Notes Payable/Short Term Debt

56.2

50.7

82.1

54.9

11.4

Current Portion - Long Term Debt/Capital Leases

123.3

33.0

4.1

81.3

0.0

    Income Taxes Payable

1.8

0.0

3.6

1.1

1.8

    Deferred Income Tax - Current Liability

-

-

0.0

0.2

0.0

    Other Current Liabilities

-

-

0.0

0.0

0.0

Other Current liabilities, Total

1.8

0.0

3.6

1.4

1.8

Total Current Liabilities

256.1

142.8

113.6

146.8

20.3

 

 

 

 

 

 

    Long Term Debt

154.5

259.4

300.6

92.3

77.2

Total Long Term Debt

154.5

259.4

300.6

92.3

77.2

Total Debt

334.0

343.0

386.7

228.5

88.6

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

0.0

1.3

0.0

-

Deferred Income Tax

-

0.0

1.3

0.0

-

Minority Interest

17.5

112.2

154.1

41.8

4.3

    Pension Benefits - Underfunded

-

-

-

-

0.0

    Other Long Term Liabilities

-

-

0.0

0.1

0.0

Other Liabilities, Total

-

-

0.0

0.1

0.0

Total Liabilities

428.1

514.4

569.5

281.0

101.8

 

 

 

 

 

 

    Common Stock

85.6

68.5

31.2

18.7

12.4

Common Stock

85.6

68.5

31.2

18.7

12.4

Additional Paid-In Capital

281.0

250.4

124.4

45.9

53.5

Retained Earnings (Accumulated Deficit)

-96.1

-42.4

48.2

29.3

23.5

Unrealized Gain (Loss)

-0.1

0.0

-0.1

0.4

0.0

    Translation Adjustment

-0.7

1.2

3.6

0.0

0.0

Other Equity, Total

-0.7

1.2

3.6

0.0

0.0

Total Equity

269.6

277.7

207.3

94.2

89.4

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

249.4

219.2

139.4

122.9

122.4

Total Common Shares Outstanding

249.4

219.2

139.4

122.9

122.4

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

-

Employees

2,208

1,468

1,002

588

276

Number of Common Shareholders

32,944

31,589

11,932

6,707

3,705

Total Long Term Debt, Supplemental

36.2

33.0

4.1

-

-

Long Term Debt Maturing within 1 Year

36.2

33.0

4.1

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

-

-

Total Operating Leases, Supplemental

18.6

13.5

19.7

20.7

0.6

Operating Lease Payments Due in Year 1

1.5

0.7

0.8

0.7

0.3

Operating Lease Payments Due in Year 2

1.7

0.7

1.0

0.8

0.3

Operating Lease Payments Due in Year 3

1.8

0.9

1.0

1.0

-

Operating Lease Payments Due in Year 4

1.8

0.9

1.2

1.1

-

Operating Lease Payments Due in Year 5

1.8

-

-

-

-

Operating Lease Pymts. Due in 2-3 Years

3.5

1.6

2.0

1.8

0.3

Operating Lease Pymts. Due in 4-5 Years

3.6

0.9

1.2

1.1

-

Oper. Lse. Pymts. Due in Year 6 & Beyond

9.8

10.3

15.7

17.1

0.0

Pension Obligation - Domestic

0.3

0.2

0.2

0.2

0.2

Plan Assets - Domestic

0.3

0.2

0.2

0.2

0.1

Funded Status - Domestic

0.0

0.1

0.1

0.0

-0.1

Accumulated Obligation - Domestic

0.2

0.1

0.1

0.1

0.1

Total Funded Status

0.0

0.1

0.1

0.0

-0.1

Discount Rate - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Expected Rate of Return - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Compensation Rate - Domestic

2.50%

2.50%

2.50%

3.00%

3.00%

Prepaid Benefits - Domestic

0.0

0.0

0.0

0.0

0.0

Accrued Liabilities - Domestic

-

-

-

-

0.0

Net Assets Recognized on Balance Sheet

0.0

0.0

0.0

0.0

0.0

Total Plan Obligations

0.3

0.2

0.2

0.2

0.2

Total Plan Assets

0.3

0.2

0.2

0.2

0.1

 

spacebar

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal
31-Dec-2009

Reclassified Normal
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

-89.0

-70.9

38.5

23.3

22.5

    Depreciation

19.9

12.4

8.6

2.9

1.5

Depreciation/Depletion

19.9

12.4

8.6

2.9

1.5

    Amortization of Intangibles

1.6

1.9

1.6

0.5

-

Amortization

1.6

1.9

1.6

0.5

-

Deferred Taxes

0.0

-1.8

0.6

-0.7

0.5

    Unusual Items

181.0

77.8

-0.2

-

0.3

    Equity in Net Earnings (Loss)

0.0

3.3

0.9

0.1

-

    Other Non-Cash Items

-93.5

-57.4

4.8

-1.4

-5.2

Non-Cash Items

87.5

23.7

5.5

-1.4

-4.9

    Accounts Receivable

9.5

-25.3

-16.4

-17.6

-11.9

    Inventories

-22.9

9.8

-12.5

-18.6

-8.7

    Prepaid Expenses

2.0

-1.3

-55.7

-84.0

-39.0

    Other Assets

2.0

-4.1

2.0

-4.4

-2.0

    Accounts Payable

-2.2

36.6

5.4

-0.2

2.8

    Accrued Expenses

5.5

-0.9

1.1

1.2

1.0

    Taxes Payable

1.7

-3.6

2.6

-0.6

1.4

    Other Liabilities

0.1

0.6

0.5

0.3

0.2

Changes in Working Capital

-4.4

11.8

-73.0

-123.9

-56.2

Cash from Operating Activities

15.6

-22.9

-18.3

-99.2

-36.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-47.3

-69.7

-69.0

-89.6

-21.0

    Purchase/Acquisition of Intangibles

-0.2

0.0

-172.2

-0.1

-

Capital Expenditures

-47.5

-69.8

-241.3

-89.7

-21.0

    Sale of Fixed Assets

0.7

0.0

0.0

-

-

    Sale/Maturity of Investment

24.4

9.8

0.3

-

-

    Investment, Net

-

-

-

-5.3

-

    Purchase of Investments

-7.6

0.0

-13.2

-1.1

-

    Other Investing Cash Flow

-1.7

-0.1

-12.8

-0.9

0.0

Other Investing Cash Flow Items, Total

15.8

9.7

-25.8

-7.3

0.0

Cash from Investing Activities

-31.7

-60.0

-267.0

-97.1

-21.0

 

 

 

 

 

 

    Other Financing Cash Flow

-1.5

13.9

76.9

42.2

4.1

Financing Cash Flow Items

-1.5

13.9

76.9

42.2

4.1

    Cash Dividends Paid - Common

0.0

-1.8

-6.2

-11.0

-3.7

Total Cash Dividends Paid

0.0

-1.8

-6.2

-11.0

-3.7

        Sale/Issuance of Common

57.8

112.0

0.0

-

29.5

    Common Stock, Net

57.8

112.0

0.0

-

29.5

Issuance (Retirement) of Stock, Net

57.8

112.0

0.0

-

29.5

        Short Term Debt Issued

5.9

1.5

0.0

-

-

    Short Term Debt, Net

-0.1

-23.9

33.1

34.7

-0.6

        Long Term Debt Issued

29.6

27.3

-

-

99.2

        Long Term Debt Reduction

-

-

-40.9

0.0

-

    Long Term Debt, Net

-37.6

6.5

137.3

91.2

99.2

Issuance (Retirement) of Debt, Net

-37.7

-17.5

170.4

125.9

98.6

Cash from Financing Activities

18.5

106.6

241.1

157.1

128.5

 

 

 

 

 

 

Foreign Exchange Effects

2.8

-1.9

-2.8

0.0

-

Net Change in Cash

5.3

21.8

-47.0

-39.2

70.8

 

 

 

 

 

 

Net Cash - Beginning Balance

45.5

21.6

69.6

81.6

11.9

Net Cash - Ending Balance

50.8

43.4

22.6

42.4

82.8

Cash Interest Paid

6.2

4.3

8.7

1.2

0.0

Cash Taxes Paid

0.1

2.8

2.0

1.5

0.4

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Restated Normal 
31-Dec-2008

Restated Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Gross Sales

629.4

426.1

538.9

186.3

104.8

    Sales Returns & Allowance

-5.6

-22.5

-12.1

-4.5

-1.1

Total Revenue

623.8

403.5

526.7

181.9

103.7

 

 

 

 

 

 

    Cost of Sales

577.9

417.4

450.5

157.7

78.4

    Unrealized Profit - Related Parties

-

-

-

-

0.0

    Realized Profit - Related Parties

-

0.0

0.0

0.0

0.0

    Selling Expenses

19.8

15.7

1.8

0.5

0.3

    General and Administrative Expenses

14.3

16.1

7.8

1.7

0.9

    Research and Development Expenses

3.2

6.7

13.8

3.7

1.1

    Gain on Physical Inventory

-

-

-

-

0.0

    Inventory Devaluation & Obsolescence

-

-

-

0.3

0.1

    Impairment Loss

181.6

78.2

0.0

-

-

Total Operating Expense

796.7

534.1

474.0

163.9

80.7

 

 

 

 

 

 

    Interest Income

0.1

0.1

1.2

2.9

0.7

    Gain on Sale of Investments

1.3

0.5

0.2

0.1

0.5

    Foreign Exchange Loss

-3.9

-

0.0

-

-

    Foreign Exchange Gains

0.0

2.4

-

2.3

1.0

    Gain on Sale of Scrap & Waste

-

-

-

0.5

0.4

    Revaluation Gain on Financial Assets

0.0

0.3

-

0.5

0.1

    Revaluation Loss on Financial Assets

-0.9

-

-2.8

-

-

    Revaluation Gain on Fin. Liabilities

0.0

0.4

8.8

5.0

-

    Revaluation Loss on Fin. Liabilities

-0.6

-

-

-

-0.3

    Miscellaneous Income

0.2

3.3

2.1

0.0

0.0

    Interest Expense

-6.2

-4.8

-8.8

-5.6

-0.5

    Gain on Redemption on Corporate Bond

0.5

-

-

-

-

    Loss on Redemption on Corporate Bond

0.0

-0.1

-3.7

0.0

-

    Loss on Equity Investment

0.0

-3.3

-0.9

-0.1

0.0

    Loss on Disposal of Fixed Assets

-0.7

0.0

0.0

-

-

    Finance Expenses

-

-

-

-

0.0

    Miscellaneous Disbursements

-0.6

-0.3

-0.3

-0.1

0.0

Net Income Before Taxes

-183.7

-132.1

48.5

23.5

24.8

 

 

 

 

 

 

Provision for Income Taxes

1.5

-2.6

6.2

0.2

2.4

Net Income After Taxes

-185.3

-129.5

42.3

23.3

22.5

 

 

 

 

 

 

    Minority Interest

96.2

58.6

-3.8

0.0

0.0

Net Income Before Extra. Items

-89.0

-70.9

38.5

23.3

22.5

Net Income

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Basic Weighted Average Shares

243.8

185.2

137.4

128.8

121.0

Basic EPS Excluding ExtraOrdinary Items

-0.37

-0.38

0.28

0.18

0.19

Basic EPS Including ExtraOrdinary Items

-0.37

-0.38

0.28

0.18

0.19

Dilution Adjustment

0.0

0.0

-0.7

-

-

Diluted Net Income

-89.0

-70.9

37.7

23.3

22.5

Diluted Weighted Average Shares

243.8

185.2

147.9

128.8

122.1

Diluted EPS Excluding ExtraOrd Items

-0.37

-0.38

0.26

0.18

0.18

Diluted EPS Including ExtraOrd Items

-0.37

-0.38

0.26

0.18

0.18

DPS-Common Stock

0.00

0.00

0.01

0.05

0.09

Gross Dividends - Common Stock

0.0

0.0

1.9

6.0

11.1

Normalized Income Before Taxes

-1.4

-53.8

48.5

23.1

24.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

65.3

24.8

6.2

0.2

2.3

Normalized Income After Taxes

-66.8

-78.6

42.3

22.8

22.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.5

-20.0

38.5

22.9

22.1

 

 

 

 

 

 

Basic Normalized EPS

0.12

-0.11

0.28

0.18

0.18

Diluted Normalized EPS

0.12

-0.11

0.26

0.18

0.18

R&D Expense, Supplemental

3.2

6.7

13.8

3.7

1.1

Interest Expense, Supplemental

6.2

4.8

8.8

5.6

0.5

Interest Capitalized

-0.6

-3.5

-2.7

-0.9

0.0

Depreciation, Operating Cost

19.0

12.1

8.4

2.9

1.5

Depreciation, Operating Expense

1.0

0.3

0.2

0.0

0.0

Amortisation, Operating Cost

1.0

0.7

1.0

0.0

-

Amortisation, Operating Expense

0.6

1.2

0.5

0.5

-

    Current Tax Payable

1.7

0.0

5.4

1.3

1.8

Current Tax - Total

1.7

0.0

5.4

1.3

1.8

    Deferred Tax

0.0

-2.2

1.5

-0.7

0.5

Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

    Other Tax

-0.1

-0.4

-0.7

-0.4

0.1

Income Tax - Total

1.5

-2.6

6.2

0.2

2.4

Service Cost

0.0

0.0

0.0

0.0

0.0

Interest Cost

0.0

0.0

0.0

0.0

0.0

Expected Return on Plan Assets

0.0

0.0

0.0

0.0

0.0

Amort. Transitional Benefit Obligation

0.0

0.0

0.0

0.0

0.0

Amort. of Prior Service Cost

-

-

-

-

0.0

Domestic Pension Plan Expense

0.0

0.0

0.0

0.0

0.0

Defined Contribution Expense - Domestic

1.3

0.8

0.6

-

-

Total Pension Expense

1.3

0.8

0.6

0.0

0.0

Discount Rate

2.00%

2.50%

2.50%

3.00%

2.50%

Rate of Compensation Increase

2.50%

2.50%

2.50%

3.00%

3.00%

Expected Rate of Return on Plan Assets

2.00%

2.50%

2.50%

3.00%

2.50%

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

29.1565

31.985

32.818

32.4345

32.585

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Cash Equivalent

54.9

44.8

21.7

42.9

82.6

    Financial Assets-Fair Value,Current

0.0

0.0

0.0

5.4

5.5

    Financial Assets for Sale

0.0

0.2

0.1

0.5

0.0

    Notes Receivable

-

-

0.0

0.0

0.0

    Accounts Receivable, Gross

112.1

95.7

54.3

30.8

12.3

    Provision for Doubtful Accounts

-32.6

-13.9

0.0

-0.1

0.0

    Other Financial Assets, Current

-

-

-

-

1.2

    Raw Material

12.3

17.6

27.7

5.7

6.7

    Supplies

2.9

5.1

2.8

0.9

0.5

    Work-in-Process

36.2

13.3

10.4

21.2

6.4

    Finished Goods

18.6

14.4

26.0

8.2

3.7

    Merchandise

7.4

0.0

0.0

0.0

-

    Provision/Allowance for Inventory

-

-

-7.9

-0.5

-0.2

    Prepayment

30.7

100.9

73.9

22.4

4.8

    Deferred Income Tax Assets, Current

1.1

1.0

1.5

0.0

0.2

    Restricted Assets

0.1

0.1

0.3

0.0

-

    Other Current Assets

13.2

14.5

11.4

7.0

1.4

Total Current Assets

257.0

293.7

222.2

144.4

125.2

 

 

 

 

 

 

    Long Term Equity Investment

-

0.0

28.9

5.1

0.0

    Financial Assets at Cost - Non-current

1.7

17.9

1.5

1.5

0.0

    Land

3.4

4.6

1.5

0.0

-

    Buildings and Structures

13.8

63.8

30.1

6.3

6.2

    Machinery and Equipment

133.1

76.0

63.5

30.0

10.8

    Molding Equipment

0.1

-

-

-

-

    Office Equipment

0.5

0.0

0.0

0.0

0.0

    Other Equipment

2.2

2.0

1.6

0.5

0.3

    Leasehold Improvements

54.7

3.0

-

-

-

    Accumulated Depreciation

-47.6

-26.6

-15.6

-6.5

-3.5

    Construction in Progress

4.5

43.4

33.9

70.4

7.5

    Prepayment for Equipment

46.2

47.1

34.3

18.9

9.4

    Patent

6.4

41.5

41.6

0.0

-

    Computer Sofeware Cost

0.3

0.2

0.2

0.1

0.0

    Goodwill

0.0

112.3

174.8

0.0

-

    Deferred Pension Cost

0.0

0.0

0.0

0.0

0.0

    Other Intangible Assets

3.2

10.1

11.3

0.0

-

    Idle Assets

35.1

-

-

-

-

    Security Deposits Paid

1.7

0.5

0.7

0.4

0.4

    Deferred Charges

0.6

0.8

0.8

0.5

0.1

    Deferred Income Tax Assets

1.2

1.1

0.0

1.1

0.0

    Prepayment

176.1

100.4

134.4

102.5

-

    Restricted Assets, Non-current

3.0

0.1

0.1

0.0

-

    Other Assets - Non-current

0.6

0.5

10.9

0.0

34.8

Total Assets

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    Short Term Borrowings

44.5

35.7

63.5

30.5

0.0

    Other ST Borrowings

5.5

1.5

-

-

-

    Short Term Notes & Bills Payable

0.0

9.9

8.5

4.6

0.0

    Notes Payable

3.8

3.2

8.0

2.4

0.4

    Other Notes Payable

-

-

-

-

1.6

    Accounts Payable

53.1

50.6

12.5

5.3

5.5

    Income Taxes Payable

1.8

0.0

3.6

1.1

1.8

    Accrued Expenses & Other Current Lia.

21.7

8.6

11.3

3.9

-

    Accrued Expenses

-

-

-

-

1.6

    Fin. Liabilities at Fair Value

2.4

0.3

2.1

17.3

9.3

    Current Portion of Corporate Bond

35.9

-

0.0

81.3

0.0

    Current Portion of LT Debt

87.3

33.0

4.1

0.0

-

    Deferred Tax Liabilities

-

-

0.0

0.2

0.0

    Other Current Liabilities

-

-

-

-

0.0

    Deferred Credit - Related Parties Gains

-

-

0.0

0.0

0.0

Total Current Liabilities

256.1

142.8

113.6

146.8

20.3

 

 

 

 

 

 

    Long Term Borrowings

123.8

226.2

269.8

92.3

77.2

    Corporate Bond Payable

30.7

33.2

30.8

0.0

0.0

Total Long Term Debt

154.5

259.4

300.6

92.3

77.2

 

 

 

 

 

 

    Accrued Pension Liabilities

-

-

-

-

0.0

    Deferred Tax Liabilities

-

0.0

1.3

0.0

-

    Consolidation Credit

-

-

0.0

0.1

0.0

    Minority Interest

17.5

112.2

154.1

41.8

4.3

Total Liabilities

428.1

514.4

569.5

281.0

101.8

 

 

 

 

 

 

    Common Stock

85.6

68.5

31.2

18.7

12.4

    Paid-In Capital

276.4

246.0

117.5

40.7

40.5

    Cpital Gain from Treasury Stock Trans.

1.3

1.2

1.2

0.0

-

    Capital Gain from LT Investment

2.0

2.8

5.8

5.2

0.0

    Employee Stock Option

0.7

0.4

-

-

-

    Capital Gain on Corporate Bonds

0.7

0.0

-

-

13.0

    Legal Reserve

0.0

9.9

5.9

3.3

1.0

    Retained Earnings

-96.1

-52.3

42.2

26.0

22.5

    Translation Adjustments

-0.7

1.2

3.6

0.0

0.0

    Unrealized Gain on Fncl. Instrument

-0.1

0.0

-0.1

0.4

0.0

Total Equity

269.6

277.7

207.3

94.2

89.4

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    S/O-Common Stock

249.4

219.2

139.4

122.9

122.4

Total Common Shares Outstanding

249.4

219.2

139.4

122.9

122.4

T/S-Common Stock

0.0

0.0

0.0

0.0

-

Full-Time Employees

2,208

1,468

1,002

588

276

Number of Common Shareholders

32,944

31,589

11,932

6,707

3,705

Current maturities

36.2

33.0

4.1

-

-

Total Long Term Debt, Supplemental

36.2

33.0

4.1

-

-

Operating Lease Maturing within 1 Year

1.5

0.7

0.8

0.7

0.3

Operating Lease Maturing within 2 Years

1.7

0.7

1.0

0.8

0.3

Operating Lease Maturing within 3 Years

1.8

0.9

1.0

1.0

-

Operating Lease Maturing within 4 Years

1.8

0.9

1.2

1.1

-

Operating Lease Payments Due in Year 5

1.8

-

-

-

-

Operating Lease Maturing in Remain Years

9.8

10.3

15.7

17.1

-

Total Operating Leases

18.6

13.5

19.7

20.7

0.6

Accumulated Benefit Obligation

0.2

0.1

0.1

0.1

0.1

Pension Obligation

0.3

0.2

0.2

0.2

0.2

Fair Value of Plan Assets

0.3

0.2

0.2

0.2

0.1

Funded Status

0.0

0.1

0.1

0.0

-0.1

Total Funded Status

0.0

0.1

0.1

0.0

-0.1

Discount Rate

2.00%

2.50%

2.50%

3.00%

2.50%

Rate of Compensation Increase

2.50%

2.50%

2.50%

3.00%

3.00%

Expected Rate of Return on Plan Assets

2.00%

2.50%

2.50%

3.00%

2.50%

Deferred Pension Cost

0.0

0.0

0.0

0.0

0.0

Accrued Pension Liabilities

-

-

-

-

0.0

Net Assets Recognized on Balance Sheet

0.0

0.0

0.0

0.0

0.0

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

-89.0

-70.9

38.5

23.3

22.5

    Depreciation

19.9

12.4

8.6

2.9

1.5

    Minority Interest

-96.2

-58.6

3.8

0.0

0.0

    Amortisation of Intangibles

1.6

1.9

1.6

0.5

-

    Amortization of Deferred Charges

-

-

-

-

0.0

    Employee Stock Option Cost

0.6

0.9

1.3

0.0

-

    Investment Loss-Equity Method

0.0

3.3

0.9

0.1

-

    Loss on Redemption on Corporate Bond

-0.5

0.1

3.7

0.0

-

    Loss on Revaluation of Convertable Bonds

-0.7

-0.3

-3.8

-0.6

0.3

    Impairment Loss on Assets

181.6

78.2

0.0

-

-

    Foreign Change Effects on Corp. Bonds

-

-

-

-

-0.2

    G/L on Financial Products Valuation

1.6

-0.7

-2.6

-5.0

-

    Amort. of Bond Discount

1.8

1.2

2.5

4.2

-

    Gain/Loss on Disposal of Properties

0.7

0.0

0.0

-

-

    Deferred Credit-Related Parties Gain

-

0.0

0.0

0.0

-

    Gain on Sale of Investments

-1.3

-0.5

-0.2

-

-

    Depreciation on Corp. Bonds

-

-

-

-

0.5

    Accounts Receivable

9.5

-25.3

-16.4

-

-11.9

    Notes & Accounts Receivable

-

-

-

-17.6

-

    Other Financial Assets, Current

-

-

-

-

-0.7

    Inventories

-22.9

9.8

-12.5

-18.6

-8.7

    Prepayment

2.0

-1.3

-55.7

-84.0

-39.0

    Other Current Assets

2.6

-2.7

0.4

-4.3

-1.2

    Deferred Tax Assets

0.0

-1.8

0.6

-0.7

0.5

    Financial Products-Trading

-0.6

-1.3

1.7

-0.1

-

    Fin. Assets at Fair Value

-

-

-

-

-5.6

    Deferred Pension Cost

0.0

0.0

0.0

0.0

-

    Notes Payable

0.1

0.6

0.5

0.3

0.2

    Accounts Payable

-2.2

36.6

5.4

-0.2

2.8

    Taxes Payable

1.7

-3.6

2.6

-0.6

1.4

    Accrued Expenses & Other Current Lia.

5.5

-0.9

1.1

1.2

-

    Accrued Expenses

-

-

-

-

1.0

    Fin. Liabilities for Trading

-

-

-

0.0

-

    Fin. Liabilities at Fair Value

-

-

-

-

0.0

    Other Current Liabilities

-

-

-

-

0.0

    Accrued Pension Liabilities

-

-

-

0.0

0.0

Cash from Operating Activities

15.6

-22.9

-18.3

-99.2

-36.6

 

 

 

 

 

 

    Capital Expenditure

-47.3

-69.7

-69.0

-89.6

-21.0

    Disposal of Fixed Assets

0.7

0.0

0.0

-

-

    Intangible Assets - Computer Software

-0.2

0.0

-172.2

-0.1

-

    Restricted Assets

-0.4

0.2

-0.4

0.0

-

    Deferred Charges

-0.1

-0.4

-0.9

-0.9

0.0

    Sale of Investments

-

9.6

0.0

-

-

    Purchase of Fin. Assets-Held to Maturity

-1.9

-

-

-

-

    Disposal of Fin. Assets-Held to Meturity

1.9

-

-

-

-

    Purchase of Financial Assets for Sale

-5.7

-

-

-0.1

-

    Investment Available for Sale Dec.

5.7

0.1

0.3

-

-

    Disposal of Financial Assets-Cost Method

16.8

-

-

-

-

    LT Equity Investment Increase

-

0.0

-13.2

-1.0

-

    Fncl. Assets for Trading

-

-

-

-5.3

-

    Other Assets

-0.1

-0.1

-11.2

0.0

-

    Security Deposit Paid

-1.2

0.2

-0.2

0.0

-

Cash from Investing Activities

-31.7

-60.0

-267.0

-97.1

-21.0

 

 

 

 

 

 

    Short Term Borrowings

4.0

-26.6

28.9

30.1

0.0

    Other Short Term Borrowings

5.9

1.5

0.0

-

-

    Short Term Notes

-10.0

1.2

4.1

4.6

-0.6

    Issuance Corp. Bonds

29.6

27.3

-

-

99.2

    Redemption of Corp. Bonds

-

-

-40.9

0.0

-

    Cash Capital

57.8

112.0

0.0

-

29.5

    Long Term Borrowing, Net

-67.2

-20.8

178.2

91.2

-

    Directors Remuneration & Employees Bonus

-

0.0

-1.4

-0.5

-

    Employees Bonus

-

-

-

-

-0.2

    Cash Dividend

0.0

-1.8

-6.2

-11.0

-3.7

    Minority Interest

-1.5

13.9

78.3

42.8

4.3

Cash from Financing Activities

18.5

106.6

241.1

157.1

128.5

 

 

 

 

 

 

Foreign Exchange Effects

2.8

-1.9

-2.8

0.0

-

Net Change in Cash

5.3

21.8

-47.0

-39.2

70.8

 

 

 

 

 

 

Net Cash - Beginning Balance

45.5

21.6

69.6

81.6

11.9

Net Cash - Ending Balance

50.8

43.4

22.6

42.4

82.8

    Cash Interest Paid

6.2

4.3

8.7

1.2

0.0

    Cash Taxes Paid

0.1

2.8

2.0

1.5

0.4

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
30-Sep-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1 

42.6

-77.78%

623.8

47.44%

48.72%

76.10%

Research & Development1 

0.8

-24.25%

3.2

-54.67%

-6.19%

52.90%

Operating Income1 

-48.5

-

-172.9

-

-

-

Income Available to Common Excl Extraord Items1 

-43.7

-

-89.0

-

-

-

Basic EPS Excl Extraord Items1 

-0.09

-

-0.37

-

-

-

Capital Expenditures2 

11.4

-72.71%

47.5

-35.06%

-20.24%

46.88%

Cash from Operating Activities2 

-1.5

-

15.6

-

-

18.25%

Free Cash Flow 

-12.3

-

-34.4

-

-

-

Total Assets3 

498.5

-28.53%

697.7

-19.71%

18.67%

79.59%

Total Liabilities3 

182.7

-57.42%

428.1

-24.14%

11.04%

137.14%

Total Long Term Debt3 

20.1

-89.97%

154.5

-45.69%

14.58%

-

Employees3 

-

-

2208

50.41%

55.43%

65.47%

Total Common Shares Outstanding3 

479.4

92.20%

249.4

13.81%

26.60%

21.13%

1-ExchangeRate: TWD to USD Average for Period

29.146237

 

31.497037

 

 

 

2-ExchangeRate: TWD to USD Average for Period

29.099862

 

31.497037

 

 

 

3-ExchangeRate: TWD to USD Period End Date

30.475000

 

29.156500

 

 

 

Utility Industry Specific USD (mil)

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

 

Deferred Charges3 

0.6

0.8

0.8

0.5

0.1

 

3-ExchangeRate: TWD to USD Period End Date

29.156500

31.985000

32.818000

32.434500

32.585000

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin 

7.36%

-3.43%

14.47%

13.12%

24.28%

Operating Margin 

-27.72%

-32.35%

10.02%

9.87%

22.12%

Pretax Margin 

-29.45%

-32.73%

9.21%

12.94%

23.95%

Net Profit Margin 

-14.27%

-17.56%

7.30%

12.83%

21.69%

Financial Strength

Current Ratio 

1.00

2.06

1.96

0.98

6.17

Long Term Debt/Equity 

0.57

0.93

1.45

0.98

0.86

Total Debt/Equity 

1.24

1.23

1.87

2.43

0.99

Management Effectiveness

Return on Assets 

-25.55%

-16.82%

7.08%

8.33%

19.96%

Return on Equity 

-33.48%

-29.83%

24.62%

25.69%

38.15%

Efficiency

Receivables Turnover 

7.97

6.06

11.97

8.55

16.33

Inventory Turnover 

9.40

7.78

9.22

6.09

6.15

Asset Turnover 

0.86

0.52

0.88

0.65

0.92

Market Valuation USD (mil)

Enterprise Value2 

263.3

.

Price/Sales (TTM)

0.36

Enterprise Value/Revenue (TTM) 

0.61

.

Price/Book (MRQ)

0.49

Market Cap as of 25-Nov-20111 

155.2

.

 

 

1-ExchangeRate: TWD to USD on 25-Nov-2011

30.430000

 

 

 

2-ExchangeRate: TWD to USD on 30-Sep-2011

30.475000

 

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Current Ratio 

1.00

2.06

1.96

0.98

6.17

Quick/Acid Test Ratio 

0.52

0.89

0.67

0.54

5.01

Working Capital1 

0.9

150.8

108.6

-2.4

104.9

Long Term Debt/Equity 

0.57

0.93

1.45

0.98

0.86

Total Debt/Equity 

1.24

1.23

1.87

2.43

0.99

Long Term Debt/Total Capital 

0.26

0.42

0.51

0.29

0.43

Total Debt/Total Capital 

0.55

0.55

0.65

0.71

0.50

Payout Ratio 

0.00%

0.00%

4.16%

24.86%

48.96%

Effective Tax Rate 

-

-

12.88%

0.92%

9.55%

Total Capital1 

603.6

620.7

594.0

322.7

178.0

 

 

 

 

 

 

Efficiency

Asset Turnover 

0.86

0.52

0.88

0.65

0.92

Inventory Turnover 

9.40

7.78

9.22

6.09

6.15

Days In Inventory 

38.81

46.95

39.61

59.98

59.33

Receivables Turnover 

7.97

6.06

11.97

8.55

16.33

Days Receivables Outstanding 

45.83

60.20

30.50

42.69

22.35

Revenue/Employee2 

305,211

283,822

505,254

313,235

374,923

Operating Income/Employee2 

-84,601

-91,817

50,608

30,911

82,934

EBITDA/Employee2 

-74,078

-81,778

60,337

36,846

88,322

 

 

 

 

 

 

Profitability

Gross Margin 

7.36%

-3.43%

14.47%

13.12%

24.28%

Operating Margin 

-27.72%

-32.35%

10.02%

9.87%

22.12%

EBITDA Margin 

-24.27%

-28.81%

11.94%

11.76%

23.56%

EBIT Margin 

-27.72%

-32.35%

10.02%

9.87%

22.12%

Pretax Margin 

-29.45%

-32.73%

9.21%

12.94%

23.95%

Net Profit Margin 

-14.27%

-17.56%

7.30%

12.83%

21.69%

R&D Expense/Revenue 

0.51%

1.66%

2.62%

2.03%

1.02%

COGS/Revenue 

92.64%

103.43%

85.53%

86.88%

75.72%

SG&A Expense/Revenue 

5.47%

7.87%

1.84%

1.22%

1.14%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

-25.55%

-16.82%

7.08%

8.33%

19.96%

Return on Equity 

-33.48%

-29.83%

24.62%

25.69%

38.15%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2 

-0.14

-0.44

-1.79

-1.56

-0.47

Operating Cash Flow/Share 2 

0.07

-0.11

-0.13

-0.82

-0.30

1-ExchangeRate: TWD to USD Period End Date

29.1565

31.985

32.818

32.4345

32.585

2-ExchangeRate: TWD to USD Average for Period

29.1565

31.985

32.818

32.4345

32.585

 

Current Market Multiples

Market Cap/Earnings (TTM) 

-1.23

Market Cap/Equity (MRQ) 

0.49

Market Cap/Revenue (TTM) 

0.36

Market Cap/EBIT (TTM) 

-1.21

Market Cap/EBITDA (TTM) 

-1.54

Enterprise Value/Earnings (TTM) 

-2.09

Enterprise Value/Equity (MRQ) 

0.83

Enterprise Value/Revenue (TTM) 

0.61

Enterprise Value/EBIT (TTM) 

-2.06

Enterprise Value/EBITDA (TTM) 

-2.61

 

 

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Restated Normal
31-Dec-2008

Restated Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Gross Revenue

629.4

426.1

538.9

186.3

104.8

    Sales Returns and Allowances

-5.6

-22.5

-12.1

-4.5

-1.1

Revenue

623.8

403.5

526.7

181.9

103.7

Total Revenue

623.8

403.5

526.7

181.9

103.7

 

 

 

 

 

 

    Cost of Revenue

577.9

417.4

450.5

158.0

78.5

Cost of Revenue, Total

577.9

417.4

450.5

158.0

78.5

Gross Profit

45.9

-13.9

76.2

23.9

25.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

34.1

31.8

9.7

2.2

1.2

Total Selling/General/Administrative Expenses

34.1

31.8

9.7

2.2

1.2

Research & Development

3.2

6.7

13.8

3.7

1.1

    Impairment-Assets Held for Use

181.6

78.2

0.0

-

-

Unusual Expense (Income)

181.6

78.2

0.0

-

-

    Other, Net

-

0.0

0.0

0.0

0.0

Other Operating Expenses, Total

-

0.0

0.0

0.0

0.0

Total Operating Expense

796.7

534.1

474.0

163.9

80.7

 

 

 

 

 

 

Operating Income

-172.9

-130.5

52.8

17.9

22.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-6.2

-4.8

-8.8

-5.6

-0.5

    Interest Expense, Net Non-Operating

-6.2

-4.8

-8.8

-5.6

-0.5

        Interest Income - Non-Operating

0.1

0.1

1.2

2.9

0.7

        Investment Income - Non-Operating

-3.6

0.2

1.6

7.9

1.3

    Interest/Investment Income - Non-Operating

-3.5

0.3

2.8

10.8

2.0

Interest Income (Expense) - Net Non-Operating Total

-9.7

-4.5

-6.0

5.1

1.5

Gain (Loss) on Sale of Assets

-0.7

0.0

0.0

0.5

0.4

    Other Non-Operating Income (Expense)

-0.4

3.0

1.8

0.0

0.0

Other, Net

-0.4

3.0

1.8

0.0

0.0

Income Before Tax

-183.7

-132.1

48.5

23.5

24.8

 

 

 

 

 

 

Total Income Tax

1.5

-2.6

6.2

0.2

2.4

Income After Tax

-185.3

-129.5

42.3

23.3

22.5

 

 

 

 

 

 

    Minority Interest

96.2

58.6

-3.8

0.0

0.0

Net Income Before Extraord Items

-89.0

-70.9

38.5

23.3

22.5

Net Income

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

243.8

185.2

137.4

128.8

121.0

Basic EPS Excl Extraord Items

-0.37

-0.38

0.28

0.18

0.19

Basic/Primary EPS Incl Extraord Items

-0.37

-0.38

0.28

0.18

0.19

Dilution Adjustment

0.0

0.0

-0.7

-

-

Diluted Net Income

-89.0

-70.9

37.7

23.3

22.5

Diluted Weighted Average Shares

243.8

185.2

147.9

128.8

122.1

Diluted EPS Excl Extraord Items

-0.37

-0.38

0.26

0.18

0.18

Diluted EPS Incl Extraord Items

-0.37

-0.38

0.26

0.18

0.18

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.01

0.05

0.09

Gross Dividends - Common Stock

0.0

0.0

1.9

6.0

11.1

Interest Expense, Supplemental

6.2

4.8

8.8

5.6

0.5

Interest Capitalized, Supplemental

-0.6

-3.5

-2.7

-0.9

0.0

Depreciation, Supplemental

19.9

12.4

8.6

2.9

1.5

Total Special Items

182.3

78.3

0.0

-0.5

-0.4

Normalized Income Before Tax

-1.4

-53.8

48.5

23.1

24.4

 

 

 

 

 

 

Effect of Special Items on Income Taxes

63.8

27.4

0.0

0.0

0.0

Inc Tax Ex Impact of Sp Items

65.3

24.8

6.2

0.2

2.3

Normalized Income After Tax

-66.8

-78.6

42.3

22.8

22.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.5

-20.0

38.5

22.9

22.1

 

 

 

 

 

 

Basic Normalized EPS

0.12

-0.11

0.28

0.18

0.18

Diluted Normalized EPS

0.12

-0.11

0.26

0.18

0.18

Amort of Intangibles, Supplemental

1.6

1.9

1.6

0.5

-

Research & Development Exp, Supplemental

3.2

6.7

13.8

3.7

1.1

Normalized EBIT

8.6

-52.3

52.8

17.9

22.9

Normalized EBITDA

30.1

-38.0

62.9

21.4

24.4

    Current Tax - Total

1.7

0.0

5.4

1.3

1.8

Current Tax - Total

1.7

0.0

5.4

1.3

1.8

    Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

    Other Tax

-0.1

-0.4

-0.7

-0.4

0.1

Income Tax - Total

1.5

-2.6

6.2

0.2

2.4

Interest Cost - Domestic

0.0

0.0

0.0

0.0

0.0

Service Cost - Domestic

0.0

0.0

0.0

0.0

0.0

Prior Service Cost - Domestic

-

-

-

-

0.0

Expected Return on Assets - Domestic

0.0

0.0

0.0

0.0

0.0

Transition Costs - Domestic

0.0

0.0

0.0

0.0

0.0

Domestic Pension Plan Expense

0.0

0.0

0.0

0.0

0.0

Defined Contribution Expense - Domestic

1.3

0.8

0.6

-

-

Total Pension Expense

1.3

0.8

0.6

0.0

0.0

Discount Rate - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Expected Rate of Return - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Compensation Rate - Domestic

2.50%

2.50%

2.50%

3.00%

3.00%

Total Plan Interest Cost

0.0

0.0

0.0

0.0

0.0

Total Plan Service Cost

0.0

0.0

0.0

0.0

0.0

Total Plan Expected Return

0.0

0.0

0.0

0.0

0.0

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

29.146237

28.855204

29.305764

30.350199

31.911435

 

 

 

 

 

 

    Gross Revenue

44.0

33.7

163.5

208.0

176.8

    Sales Returns and Allowances

-1.3

2.1

-4.2

-2.6

-1.5

Revenue

42.6

35.9

159.3

205.4

175.3

Total Revenue

42.6

35.9

159.3

205.4

175.3

 

 

 

 

 

 

    Cost of Revenue

63.2

88.7

160.0

189.0

158.3

Cost of Revenue, Total

63.2

88.7

160.0

189.0

158.3

Gross Profit

-20.6

-52.8

-0.7

16.4

17.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

1.9

2.2

2.3

10.0

0.3

Total Selling/General/Administrative Expenses

1.9

2.2

2.3

10.0

0.3

Research & Development

0.8

1.3

0.7

0.7

1.0

    Depreciation

0.3

0.3

0.3

-

-

Depreciation/Amortization

0.3

0.3

0.3

-

-

    Impairment-Assets Held for Use

25.0

12.7

-

17.9

0.0

Unusual Expense (Income)

25.0

12.7

-

17.9

0.0

Total Operating Expense

91.2

105.2

163.3

217.6

159.5

 

 

 

 

 

 

Operating Income

-48.5

-69.3

-3.9

-12.2

15.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.9

-1.2

-1.6

-1.8

-1.6

    Interest Expense, Net Non-Operating

-0.9

-1.2

-1.6

-1.8

-1.6

        Interest Income - Non-Operating

0.1

0.1

0.0

0.0

0.0

        Investment Income - Non-Operating

1.5

-0.5

0.2

-1.2

2.1

    Interest/Investment Income - Non-Operating

1.5

-0.4

0.2

-1.1

2.1

Interest Income (Expense) - Net Non-Operating Total

0.6

-1.6

-1.3

-3.0

0.6

Gain (Loss) on Sale of Assets

0.1

-0.1

-

-0.6

0.0

    Other Non-Operating Income (Expense)

0.5

-1.9

-0.1

-0.6

0.0

Other, Net

0.5

-1.9

-0.1

-0.6

0.0

Income Before Tax

-47.3

-72.9

-5.4

-16.4

16.3

 

 

 

 

 

 

Total Income Tax

0.0

0.0

0.0

0.4

1.3

Income After Tax

-47.3

-72.9

-5.4

-16.8

15.0

 

 

 

 

 

 

    Minority Interest

3.5

7.1

0.5

8.4

-0.6

Net Income Before Extraord Items

-43.7

-65.7

-4.8

-8.4

14.4

Net Income

-43.7

-65.7

-4.8

-8.4

14.4

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

-43.7

-65.7

-4.8

-8.4

14.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-43.7

-65.7

-4.8

-8.4

14.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

480.0

480.0

374.7

249.5

249.6

Basic EPS Excl Extraord Items

-0.09

-0.14

-0.01

-0.03

0.06

Basic/Primary EPS Incl Extraord Items

-0.09

-0.14

-0.01

-0.03

0.06

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

-43.7

-65.7

-4.8

-8.4

14.4

Diluted Weighted Average Shares

480.0

480.0

374.7

249.5

249.6

Diluted EPS Excl Extraord Items

-0.09

-0.14

-0.01

-0.03

0.06

Diluted EPS Incl Extraord Items

-0.09

-0.14

-0.01

-0.03

0.06

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

0.9

1.2

1.6

1.8

1.6

Interest Capitalized, Supplemental

0.0

-0.1

-0.1

-

-0.1

Depreciation, Supplemental

8.3

6.7

6.2

5.7

5.2

Total Special Items

24.9

12.9

-

18.4

0.0

Normalized Income Before Tax

-22.4

-60.0

-5.4

2.1

16.3

 

 

 

 

 

 

Effect of Special Items on Income Taxes

8.7

4.5

-

6.5

0.0

Inc Tax Ex Impact of Sp Items

8.7

4.5

0.0

6.9

1.3

Normalized Income After Tax

-31.1

-64.5

-5.4

-4.8

15.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-27.6

-57.4

-4.8

3.6

14.5

 

 

 

 

 

 

Basic Normalized EPS

-0.06

-0.12

-0.01

0.01

0.06

Diluted Normalized EPS

-0.06

-0.12

-0.01

0.01

0.06

Amort of Intangibles, Supplemental

0.8

0.0

0.6

-0.2

0.8

Research & Development Exp, Supplemental

0.8

1.3

0.7

0.7

1.0

Normalized EBIT

-23.5

-56.6

-3.9

5.7

15.8

Normalized EBITDA

-14.4

-49.8

2.8

11.1

21.8

 

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

29.1565

31.985

32.818

32.4345

32.585

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

54.9

44.8

21.7

42.9

82.6

    Short Term Investments

0.0

0.2

0.1

5.9

6.8

Cash and Short Term Investments

54.9

45.0

21.8

48.9

89.4

        Accounts Receivable - Trade, Gross

112.1

95.7

54.3

30.8

12.3

        Provision for Doubtful Accounts

-32.6

-13.9

0.0

-0.1

0.0

    Trade Accounts Receivable - Net

79.5

81.8

54.2

30.7

12.3

    Notes Receivable - Short Term

-

-

0.0

0.0

0.0

Total Receivables, Net

79.5

81.8

54.2

30.7

12.3

    Inventories - Finished Goods

26.0

14.4

26.0

8.2

3.7

    Inventories - Work In Progress

36.2

13.3

10.4

21.2

6.4

    Inventories - Raw Materials

15.3

22.7

30.4

6.6

7.2

    Inventories - Other

-

-

-7.9

-0.5

-0.2

Total Inventory

77.5

50.4

59.0

35.4

17.1

Prepaid Expenses

30.7

100.9

73.9

22.4

4.8

    Restricted Cash - Current

0.1

0.1

0.3

0.0

-

    Deferred Income Tax - Current Asset

1.1

1.0

1.5

0.0

0.2

    Other Current Assets

13.2

14.5

11.4

7.0

1.4

Other Current Assets, Total

14.3

15.6

13.2

7.0

1.6

Total Current Assets

257.0

293.7

222.2

144.4

125.2

 

 

 

 

 

 

        Buildings

68.5

66.8

30.1

6.3

6.2

        Land/Improvements

3.4

4.6

1.5

0.0

-

        Machinery/Equipment

135.8

78.0

65.0

30.5

11.1

        Construction in Progress

50.6

90.5

68.2

89.4

16.9

    Property/Plant/Equipment - Gross

258.4

239.8

164.8

126.1

34.2

    Accumulated Depreciation

-47.6

-26.6

-15.6

-6.5

-3.5

Property/Plant/Equipment - Net

210.8

213.2

149.3

119.6

30.8

Goodwill, Net

0.0

112.3

174.8

0.0

-

Intangibles, Net

9.9

51.8

53.1

0.1

0.0

    LT Investment - Affiliate Companies

-

0.0

28.9

5.1

0.0

    LT Investments - Other

1.7

17.9

1.5

1.5

0.0

Long Term Investments

1.7

17.9

30.4

6.6

0.0

    Deferred Charges

0.6

0.8

0.8

0.5

0.1

    Pension Benefits - Overfunded

0.0

0.0

0.0

0.0

0.0

    Deferred Income Tax - Long Term Asset

1.2

1.1

0.0

1.1

0.0

    Restricted Cash - Long Term

3.0

0.1

0.1

0.0

-

    Other Long Term Assets

213.5

101.3

146.0

102.8

35.1

Other Long Term Assets, Total

218.3

103.3

147.0

104.5

35.2

Total Assets

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

Accounts Payable

53.1

50.6

12.5

5.3

5.5

Accrued Expenses

21.7

8.6

11.3

3.9

1.6

Notes Payable/Short Term Debt

56.2

50.7

82.1

54.9

11.4

Current Portion - Long Term Debt/Capital Leases

123.3

33.0

4.1

81.3

0.0

    Income Taxes Payable

1.8

0.0

3.6

1.1

1.8

    Deferred Income Tax - Current Liability

-

-

0.0

0.2

0.0

    Other Current Liabilities

-

-

0.0

0.0

0.0

Other Current liabilities, Total

1.8

0.0

3.6

1.4

1.8

Total Current Liabilities

256.1

142.8

113.6

146.8

20.3

 

 

 

 

 

 

    Long Term Debt

154.5

259.4

300.6

92.3

77.2

Total Long Term Debt

154.5

259.4

300.6

92.3

77.2

Total Debt

334.0

343.0

386.7

228.5

88.6

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

0.0

1.3

0.0

-

Deferred Income Tax

-

0.0

1.3

0.0

-

Minority Interest

17.5

112.2

154.1

41.8

4.3

    Pension Benefits - Underfunded

-

-

-

-

0.0

    Other Long Term Liabilities

-

-

0.0

0.1

0.0

Other Liabilities, Total

-

-

0.0

0.1

0.0

Total Liabilities

428.1

514.4

569.5

281.0

101.8

 

 

 

 

 

 

    Common Stock

85.6

68.5

31.2

18.7

12.4

Common Stock

85.6

68.5

31.2

18.7

12.4

Additional Paid-In Capital

281.0

250.4

124.4

45.9

53.5

Retained Earnings (Accumulated Deficit)

-96.1

-42.4

48.2

29.3

23.5

Unrealized Gain (Loss)

-0.1

0.0

-0.1

0.4

0.0

    Translation Adjustment

-0.7

1.2

3.6

0.0

0.0

Other Equity, Total

-0.7

1.2

3.6

0.0

0.0

Total Equity

269.6

277.7

207.3

94.2

89.4

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

249.4

219.2

139.4

122.9

122.4

Total Common Shares Outstanding

249.4

219.2

139.4

122.9

122.4

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

-

Employees

2,208

1,468

1,002

588

276

Number of Common Shareholders

32,944

31,589

11,932

6,707

3,705

Total Long Term Debt, Supplemental

36.2

33.0

4.1

-

-

Long Term Debt Maturing within 1 Year

36.2

33.0

4.1

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

-

-

Total Operating Leases, Supplemental

18.6

13.5

19.7

20.7

0.6

Operating Lease Payments Due in Year 1

1.5

0.7

0.8

0.7

0.3

Operating Lease Payments Due in Year 2

1.7

0.7

1.0

0.8

0.3

Operating Lease Payments Due in Year 3

1.8

0.9

1.0

1.0

-

Operating Lease Payments Due in Year 4

1.8

0.9

1.2

1.1

-

Operating Lease Payments Due in Year 5

1.8

-

-

-

-

Operating Lease Pymts. Due in 2-3 Years

3.5

1.6

2.0

1.8

0.3

Operating Lease Pymts. Due in 4-5 Years

3.6

0.9

1.2

1.1

-

Oper. Lse. Pymts. Due in Year 6 & Beyond

9.8

10.3

15.7

17.1

0.0

Pension Obligation - Domestic

0.3

0.2

0.2

0.2

0.2

Plan Assets - Domestic

0.3

0.2

0.2

0.2

0.1

Funded Status - Domestic

0.0

0.1

0.1

0.0

-0.1

Accumulated Obligation - Domestic

0.2

0.1

0.1

0.1

0.1

Total Funded Status

0.0

0.1

0.1

0.0

-0.1

Discount Rate - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Expected Rate of Return - Domestic

2.00%

2.50%

2.50%

3.00%

2.50%

Compensation Rate - Domestic

2.50%

2.50%

2.50%

3.00%

3.00%

Prepaid Benefits - Domestic

0.0

0.0

0.0

0.0

0.0

Accrued Liabilities - Domestic

-

-

-

-

0.0

Net Assets Recognized on Balance Sheet

0.0

0.0

0.0

0.0

0.0

Total Plan Obligations

0.3

0.2

0.2

0.2

0.2

Total Plan Assets

0.3

0.2

0.2

0.2

0.1

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Restated Normal 
30-Sep-2011

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

30.475

28.7235

29.4065

29.1565

31.2415

 

 

 

 

 

 

    Cash & Equivalents

42.6

69.7

141.6

54.9

65.9

    Short Term Investments

0.3

0.1

0.1

0.0

0.0

Cash and Short Term Investments

43.0

69.7

141.7

54.9

65.9

        Accounts Receivable - Trade, Gross

45.9

38.9

101.4

112.1

105.8

        Provision for Doubtful Accounts

-29.9

-29.9

-31.3

-32.6

-26.9

    Trade Accounts Receivable - Net

16.1

9.0

70.1

79.5

78.9

    Other Receivables

0.0

0.0

-

-

0.0

Total Receivables, Net

16.1

9.0

70.1

79.5

78.9

    Inventories - Finished Goods

15.0

26.0

37.7

26.0

11.8

    Inventories - Work In Progress

3.8

11.4

28.3

36.2

22.2

    Inventories - Raw Materials

10.1

37.3

21.2

15.3

20.5

Total Inventory

28.9

74.7

87.2

77.5

54.6

Prepaid Expenses

11.1

11.0

19.7

30.7

72.1

    Restricted Cash - Current

-

-

2.1

0.1

-

    Deferred Income Tax - Current Asset

1.1

1.1

1.1

1.1

1.0

    Other Current Assets

13.5

13.6

10.8

13.2

12.6

Other Current Assets, Total

14.6

14.7

13.9

14.3

13.6

Total Current Assets

113.6

179.1

332.7

257.0

285.0

 

 

 

 

 

 

        Buildings

66.8

70.0

67.7

68.5

68.4

        Land/Improvements

3.3

3.5

3.4

3.4

4.7

        Machinery/Equipment

174.8

181.0

144.5

135.8

115.9

        Construction in Progress

5.3

8.7

43.0

50.6

95.3

        Leases

0.0

-

-

-

0.0

    Property/Plant/Equipment - Gross

250.2

263.2

258.7

258.4

284.4

    Accumulated Depreciation

-75.2

-52.5

-52.9

-47.6

-41.7

Property/Plant/Equipment - Net

175.0

210.7

205.8

210.8

242.7

Goodwill, Net

-

-

-

0.0

-

Intangibles, Net

0.3

0.3

9.8

9.9

9.9

    LT Investments - Other

3.7

3.9

1.7

1.7

9.8

Long Term Investments

3.7

3.9

1.7

1.7

9.8

    Deferred Charges

0.9

1.1

0.6

0.6

0.9

    Pension Benefits - Overfunded

0.0

0.0

0.0

0.0

0.0

    Deferred Income Tax - Long Term Asset

1.1

1.2

1.2

1.2

1.1

    Restricted Cash - Long Term

2.0

2.7

3.2

3.0

0.0

    Other Long Term Assets

201.8

223.5

223.8

213.5

131.0

Other Long Term Assets, Total

206.0

228.5

228.7

218.3

133.0

Total Assets

498.5

622.5

778.7

697.7

680.4

 

 

 

 

 

 

Accounts Payable

15.5

21.9

41.4

53.1

42.8

Accrued Expenses

13.4

19.3

18.9

21.7

18.3

Notes Payable/Short Term Debt

13.3

20.7

19.9

56.2

63.8

Current Portion - Long Term Debt/Capital Leases

111.6

135.6

174.7

123.3

70.8

    Income Taxes Payable

0.0

-

1.8

1.8

1.1

    Other Current Liabilities

2.5

6.2

-

-

-

Other Current liabilities, Total

2.5

6.2

1.8

1.8

1.1

Total Current Liabilities

156.3

203.7

256.6

256.1

196.8

 

 

 

 

 

 

    Long Term Debt

20.1

30.1

70.3

154.5

195.5

Total Long Term Debt

20.1

30.1

70.3

154.5

195.5

Total Debt

145.0

186.4

264.8

334.0

330.2

 

 

 

 

 

 

Minority Interest

6.3

9.8

17.0

17.5

26.3

Total Liabilities

182.7

243.6

343.9

428.1

418.6

 

 

 

 

 

 

    Common Stock

157.3

166.9

163.0

85.6

79.8

Common Stock

157.3

166.9

163.0

85.6

79.8

Additional Paid-In Capital

267.8

284.0

372.6

281.0

262.7

Retained Earnings (Accumulated Deficit)

-108.7

-71.0

-100.2

-96.1

-81.6

Unrealized Gain (Loss)

-0.1

-0.1

-0.1

-0.1

-0.1

    Translation Adjustment

-0.5

-0.9

-0.5

-0.7

1.0

Other Equity, Total

-0.5

-0.9

-0.5

-0.7

1.0

Total Equity

315.8

378.9

434.9

269.6

261.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

498.5

622.5

778.7

697.7

680.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

479.4

479.4

479.4

249.4

249.4

Total Common Shares Outstanding

479.4

479.4

479.4

249.4

249.4

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

-

1,073

-

2,208

-

Total Long Term Debt, Supplemental

-

-

-

36.2

-

Long Term Debt Maturing within 1 Year

-

-

-

36.2

-

Long Term Debt Matur. in Year 6 & Beyond

-

-

-

0.0

-

Total Operating Leases, Supplemental

14.1

15.3

18.0

18.6

13.8

Operating Lease Payments Due in Year 1

0.3

0.7

1.1

1.5

0.2

Operating Lease Payments Due in Year 2

1.4

1.5

1.7

1.7

0.8

Operating Lease Payments Due in Year 3

1.5

1.6

1.8

1.8

0.9

Operating Lease Payments Due in Year 4

1.6

1.7

1.8

1.8

0.9

Operating Lease Payments Due in Year 5

-

-

1.8

1.8

-

Operating Lease Pymts. Due in 2-3 Years

2.9

3.1

3.5

3.5

1.7

Operating Lease Pymts. Due in 4-5 Years

1.6

1.7

3.6

3.6

0.9

Oper. Lse. Pymts. Due in Year 6 & Beyond

9.3

9.9

9.8

9.8

11.0

Prepaid Benefits - Domestic

0.0

0.0

0.0

0.0

0.0

Net Assets Recognized on Balance Sheet

0.0

0.0

0.0

0.0

0.0

 

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal
31-Dec-2009

Reclassified Normal
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

-89.0

-70.9

38.5

23.3

22.5

    Depreciation

19.9

12.4

8.6

2.9

1.5

Depreciation/Depletion

19.9

12.4

8.6

2.9

1.5

    Amortization of Intangibles

1.6

1.9

1.6

0.5

-

Amortization

1.6

1.9

1.6

0.5

-

Deferred Taxes

0.0

-1.8

0.6

-0.7

0.5

    Unusual Items

181.0

77.8

-0.2

-

0.3

    Equity in Net Earnings (Loss)

0.0

3.3

0.9

0.1

-

    Other Non-Cash Items

-93.5

-57.4

4.8

-1.4

-5.2

Non-Cash Items

87.5

23.7

5.5

-1.4

-4.9

    Accounts Receivable

9.5

-25.3

-16.4

-17.6

-11.9

    Inventories

-22.9

9.8

-12.5

-18.6

-8.7

    Prepaid Expenses

2.0

-1.3

-55.7

-84.0

-39.0

    Other Assets

2.0

-4.1

2.0

-4.4

-2.0

    Accounts Payable

-2.2

36.6

5.4

-0.2

2.8

    Accrued Expenses

5.5

-0.9

1.1

1.2

1.0

    Taxes Payable

1.7

-3.6

2.6

-0.6

1.4

    Other Liabilities

0.1

0.6

0.5

0.3

0.2

Changes in Working Capital

-4.4

11.8

-73.0

-123.9

-56.2

Cash from Operating Activities

15.6

-22.9

-18.3

-99.2

-36.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-47.3

-69.7

-69.0

-89.6

-21.0

    Purchase/Acquisition of Intangibles

-0.2

0.0

-172.2

-0.1

-

Capital Expenditures

-47.5

-69.8

-241.3

-89.7

-21.0

    Sale of Fixed Assets

0.7

0.0

0.0

-

-

    Sale/Maturity of Investment

24.4

9.8

0.3

-

-

    Investment, Net

-

-

-

-5.3

-

    Purchase of Investments

-7.6

0.0

-13.2

-1.1

-

    Other Investing Cash Flow

-1.7

-0.1

-12.8

-0.9

0.0

Other Investing Cash Flow Items, Total

15.8

9.7

-25.8

-7.3

0.0

Cash from Investing Activities

-31.7

-60.0

-267.0

-97.1

-21.0

 

 

 

 

 

 

    Other Financing Cash Flow

-1.5

13.9

76.9

42.2

4.1

Financing Cash Flow Items

-1.5

13.9

76.9

42.2

4.1

    Cash Dividends Paid - Common

0.0

-1.8

-6.2

-11.0

-3.7

Total Cash Dividends Paid

0.0

-1.8

-6.2

-11.0

-3.7

        Sale/Issuance of Common

57.8

112.0

0.0

-

29.5

    Common Stock, Net

57.8

112.0

0.0

-

29.5

Issuance (Retirement) of Stock, Net

57.8

112.0

0.0

-

29.5

        Short Term Debt Issued

5.9

1.5

0.0

-

-

    Short Term Debt, Net

-0.1

-23.9

33.1

34.7

-0.6

        Long Term Debt Issued

29.6

27.3

-

-

99.2

        Long Term Debt Reduction

-

-

-40.9

0.0

-

    Long Term Debt, Net

-37.6

6.5

137.3

91.2

99.2

Issuance (Retirement) of Debt, Net

-37.7

-17.5

170.4

125.9

98.6

Cash from Financing Activities

18.5

106.6

241.1

157.1

128.5

 

 

 

 

 

 

Foreign Exchange Effects

2.8

-1.9

-2.8

0.0

-

Net Change in Cash

5.3

21.8

-47.0

-39.2

70.8

 

 

 

 

 

 

Net Cash - Beginning Balance

45.5

21.6

69.6

81.6

11.9

Net Cash - Ending Balance

50.8

43.4

22.6

42.4

82.8

Cash Interest Paid

6.2

4.3

8.7

1.2

0.0

Cash Taxes Paid

0.1

2.8

2.0

1.5

0.4

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

9 Months

6 Months

3 Months

12 Months

9 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Reclassified Normal 
30-Sep-2011

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

29.099862

29.074238

29.305764

31.497037

31.886422

 

 

 

 

 

 

Net Income/Starting Line

-125.0

-77.7

-4.8

-89.0

-167.0

    Depreciation

21.2

12.9

6.2

19.9

14.3

Depreciation/Depletion

21.2

12.9

6.2

19.9

14.3

    Amortization of Intangibles

1.5

0.6

0.6

1.6

1.8

Amortization

1.5

0.6

0.6

1.6

1.8

Deferred Taxes

-

-

-

0.0

-

    Unusual Items

38.1

13.1

-

181.0

161.8

    Equity in Net Earnings (Loss)

-

-

-

0.0

-

    Other Non-Cash Items

19.8

31.7

0.9

-93.5

2.4

Non-Cash Items

57.9

44.7

0.9

87.5

164.2

    Accounts Receivable

67.1

73.5

8.8

9.5

4.7

    Inventories

27.2

-28.6

-10.4

-22.9

-3.7

    Prepaid Expenses

11.0

9.6

-0.7

2.0

-5.6

    Other Assets

2.4

0.4

1.8

2.0

1.5

    Accounts Payable

-49.4

-36.7

-11.3

-2.2

-8.8

    Accrued Expenses

-8.9

1.4

-2.5

5.5

9.3

    Taxes Payable

-1.8

-1.8

-

1.7

1.1

    Other Liabilities

-4.6

-1.4

-0.3

0.1

-1.9

Changes in Working Capital

43.0

16.4

-14.8

-4.4

-3.4

Cash from Operating Activities

-1.5

-3.1

-12.0

15.6

9.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-11.3

-6.4

-3.1

-47.3

-38.2

    Purchase/Acquisition of Intangibles

-0.1

-0.1

-0.1

-0.2

0.0

Capital Expenditures

-11.4

-6.4

-3.1

-47.5

-38.2

    Sale of Fixed Assets

0.0

0.0

-

0.7

0.4

    Sale/Maturity of Investment

0.0

0.0

-

24.4

17.5

    Purchase of Investments

0.0

0.0

-

-7.6

-7.5

    Other Investing Cash Flow

0.2

0.1

-2.1

-1.7

-1.1

Other Investing Cash Flow Items, Total

0.2

0.1

-2.1

15.8

9.2

Cash from Investing Activities

-11.2

-6.3

-5.3

-31.7

-29.0

 

 

 

 

 

 

    Other Financing Cash Flow

0.0

0.0

0.2

-1.5

0.1

Financing Cash Flow Items

0.0

0.0

0.2

-1.5

0.1

    Cash Dividends Paid - Common

-

-

-

0.0

-

Total Cash Dividends Paid

-

-

-

0.0

-

        Sale/Issuance of Common

173.9

174.0

172.7

57.8

57.5

    Common Stock, Net

173.9

174.0

172.7

57.8

57.5

Issuance (Retirement) of Stock, Net

173.9

174.0

172.7

57.8

57.5

        Short Term Debt Issued

-

-

-

5.9

-

    Short Term Debt, Net

-27.9

-34.0

-35.8

-0.1

11.8

        Long Term Debt Issued

-

-

-

29.6

29.2

        Long Term Debt Reduction

-143.7

-116.8

-31.1

-67.2

-60.6

    Long Term Debt, Net

-143.7

-116.8

-31.1

-37.6

-31.4

Issuance (Retirement) of Debt, Net

-171.6

-150.7

-66.8

-37.7

-19.6

Cash from Financing Activities

2.3

23.3

106.0

18.5

38.0

 

 

 

 

 

 

Foreign Exchange Effects

0.1

0.0

-1.2

2.8

0.7

Net Change in Cash

-10.3

13.8

87.5

5.3

19.6

 

 

 

 

 

 

Net Cash - Beginning Balance

55.0

55.0

54.6

45.5

44.9

Net Cash - Ending Balance

44.7

68.8

142.1

50.8

64.5

Cash Interest Paid

3.7

2.7

1.8

6.2

4.7

Cash Taxes Paid

1.8

1.8

0.0

0.1

0.1

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Restated Normal 
31-Dec-2008

Restated Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Gross Sales

629.4

426.1

538.9

186.3

104.8

    Sales Returns & Allowance

-5.6

-22.5

-12.1

-4.5

-1.1

Total Revenue

623.8

403.5

526.7

181.9

103.7

 

 

 

 

 

 

    Cost of Sales

577.9

417.4

450.5

157.7

78.4

    Unrealized Profit - Related Parties

-

-

-

-

0.0

    Realized Profit - Related Parties

-

0.0

0.0

0.0

0.0

    Selling Expenses

19.8

15.7

1.8

0.5

0.3

    General and Administrative Expenses

14.3

16.1

7.8

1.7

0.9

    Research and Development Expenses

3.2

6.7

13.8

3.7

1.1

    Gain on Physical Inventory

-

-

-

-

0.0

    Inventory Devaluation & Obsolescence

-

-

-

0.3

0.1

    Impairment Loss

181.6

78.2

0.0

-

-

Total Operating Expense

796.7

534.1

474.0

163.9

80.7

 

 

 

 

 

 

    Interest Income

0.1

0.1

1.2

2.9

0.7

    Gain on Sale of Investments

1.3

0.5

0.2

0.1

0.5

    Foreign Exchange Loss

-3.9

-

0.0

-

-

    Foreign Exchange Gains

0.0

2.4

-

2.3

1.0

    Gain on Sale of Scrap & Waste

-

-

-

0.5

0.4

    Revaluation Gain on Financial Assets

0.0

0.3

-

0.5

0.1

    Revaluation Loss on Financial Assets

-0.9

-

-2.8

-

-

    Revaluation Gain on Fin. Liabilities

0.0

0.4

8.8

5.0

-

    Revaluation Loss on Fin. Liabilities

-0.6

-

-

-

-0.3

    Miscellaneous Income

0.2

3.3

2.1

0.0

0.0

    Interest Expense

-6.2

-4.8

-8.8

-5.6

-0.5

    Gain on Redemption on Corporate Bond

0.5

-

-

-

-

    Loss on Redemption on Corporate Bond

0.0

-0.1

-3.7

0.0

-

    Loss on Equity Investment

0.0

-3.3

-0.9

-0.1

0.0

    Loss on Disposal of Fixed Assets

-0.7

0.0

0.0

-

-

    Finance Expenses

-

-

-

-

0.0

    Miscellaneous Disbursements

-0.6

-0.3

-0.3

-0.1

0.0

Net Income Before Taxes

-183.7

-132.1

48.5

23.5

24.8

 

 

 

 

 

 

Provision for Income Taxes

1.5

-2.6

6.2

0.2

2.4

Net Income After Taxes

-185.3

-129.5

42.3

23.3

22.5

 

 

 

 

 

 

    Minority Interest

96.2

58.6

-3.8

0.0

0.0

Net Income Before Extra. Items

-89.0

-70.9

38.5

23.3

22.5

Net Income

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-89.0

-70.9

38.5

23.3

22.5

 

 

 

 

 

 

Basic Weighted Average Shares

243.8

185.2

137.4

128.8

121.0

Basic EPS Excluding ExtraOrdinary Items

-0.37

-0.38

0.28

0.18

0.19

Basic EPS Including ExtraOrdinary Items

-0.37

-0.38

0.28

0.18

0.19

Dilution Adjustment

0.0

0.0

-0.7

-

-

Diluted Net Income

-89.0

-70.9

37.7

23.3

22.5

Diluted Weighted Average Shares

243.8

185.2

147.9

128.8

122.1

Diluted EPS Excluding ExtraOrd Items

-0.37

-0.38

0.26

0.18

0.18

Diluted EPS Including ExtraOrd Items

-0.37

-0.38

0.26

0.18

0.18

DPS-Common Stock

0.00

0.00

0.01

0.05

0.09

Gross Dividends - Common Stock

0.0

0.0

1.9

6.0

11.1

Normalized Income Before Taxes

-1.4

-53.8

48.5

23.1

24.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

65.3

24.8

6.2

0.2

2.3

Normalized Income After Taxes

-66.8

-78.6

42.3

22.8

22.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.5

-20.0

38.5

22.9

22.1

 

 

 

 

 

 

Basic Normalized EPS

0.12

-0.11

0.28

0.18

0.18

Diluted Normalized EPS

0.12

-0.11

0.26

0.18

0.18

R&D Expense, Supplemental

3.2

6.7

13.8

3.7

1.1

Interest Expense, Supplemental

6.2

4.8

8.8

5.6

0.5

Interest Capitalized

-0.6

-3.5

-2.7

-0.9

0.0

Depreciation, Operating Cost

19.0

12.1

8.4

2.9

1.5

Depreciation, Operating Expense

1.0

0.3

0.2

0.0

0.0

Amortisation, Operating Cost

1.0

0.7

1.0

0.0

-

Amortisation, Operating Expense

0.6

1.2

0.5

0.5

-

    Current Tax Payable

1.7

0.0

5.4

1.3

1.8

Current Tax - Total

1.7

0.0

5.4

1.3

1.8

    Deferred Tax

0.0

-2.2

1.5

-0.7

0.5

Deferred Tax - Total

0.0

-2.2

1.5

-0.7

0.5

    Other Tax

-0.1

-0.4

-0.7

-0.4

0.1

Income Tax - Total

1.5

-2.6

6.2

0.2

2.4

Service Cost

0.0

0.0

0.0

0.0

0.0

Interest Cost

0.0

0.0

0.0

0.0

0.0

Expected Return on Plan Assets

0.0

0.0

0.0

0.0

0.0

Amort. Transitional Benefit Obligation

0.0

0.0

0.0

0.0

0.0

Amort. of Prior Service Cost

-

-

-

-

0.0

Domestic Pension Plan Expense

0.0

0.0

0.0

0.0

0.0

Defined Contribution Expense - Domestic

1.3

0.8

0.6

-

-

Total Pension Expense

1.3

0.8

0.6

0.0

0.0

Discount Rate

2.00%

2.50%

2.50%

3.00%

2.50%

Rate of Compensation Increase

2.50%

2.50%

2.50%

3.00%

3.00%

Expected Rate of Return on Plan Assets

2.00%

2.50%

2.50%

3.00%

2.50%

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Updated Normal 
30-Jun-2010

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

28.855204

29.305764

30.350199

31.911435

31.824532

 

 

 

 

 

 

    Gross Sales

33.7

163.5

208.0

176.8

124.0

    Sales Returns & Discounts

2.1

-4.2

-2.6

-1.5

-1.0

Total Revenue

35.9

159.3

205.4

175.3

123.0

 

 

 

 

 

 

    Cost of Sales

88.7

160.0

189.0

158.3

117.2

    Selling Expenses

0.7

0.9

10.3

1.6

6.5

    General and Administrative Expenses

2.9

2.7

-0.3

-1.3

10.5

    Research and Development Expenses

1.3

0.7

0.7

1.0

0.8

    Gain on Reversal of Bad Debt

-1.5

-1.3

-

-

0.0

    Depreciation of Idle Assets

0.3

0.3

-

-

0.0

    Impairment Loss

12.7

-

17.9

0.0

162.6

Total Operating Expense

105.2

163.3

217.6

159.5

297.6

 

 

 

 

 

 

    Interest Income

0.1

0.0

0.0

0.0

0.0

    Gains on Sale of Investments

0.0

-

0.6

0.0

0.6

    Foreign Exchange Gains/Loss

-0.6

0.8

-1.5

2.2

-2.7

    Financial Liabilities Valuation G/L

0.6

-0.4

-0.5

0.4

-0.9

    Gain on Convertible Bonds

0.0

-

-0.6

0.0

0.5

    Miscellaneous Income

0.1

0.0

0.0

0.0

0.1

    Interest Expense

-1.2

-1.6

-1.8

-1.6

-1.5

    Gain on Redemption on Corporate Bond

-

-

0.6

-

-

    Loss on Redemption on Corporate Bond

-

-

0.0

0.0

-

    Gain/Loss on Equity Investment

-

-

0.0

0.0

0.0

    Loss on Disposal of Fixed Assets

-0.1

-

-0.6

0.0

0.0

    Financial Asset Valuation Gain/Loss

-0.5

-0.2

-0.4

-0.5

0.0

    Miscellaneous Disbursements

-1.9

-0.1

-0.1

-0.1

-0.3

Net Income Before Taxes

-72.9

-5.4

-16.4

16.3

-178.7

 

 

 

 

 

 

Provision for Income Taxes

0.0

0.0

0.4

1.3

0.0

Net Income After Taxes

-72.9

-5.4

-16.8

15.0

-178.7

 

 

 

 

 

 

    Minority Interest

7.1

0.5

8.4

-0.6

85.6

Net Income Before Extra. Items

-65.7

-4.8

-8.4

14.4

-93.1

Net Income

-65.7

-4.8

-8.4

14.4

-93.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

-65.7

-4.8

-8.4

14.4

-93.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-65.7

-4.8

-8.4

14.4

-93.1

 

 

 

 

 

 

Basic Weighted Average Shares

480.0

374.7

249.5

249.6

249.6

Basic EPS Excluding ExtraOrdinary Items

-0.14

-0.01

-0.03

0.06

-0.37

Basic EPS Including ExtraOrdinary Items

-0.14

-0.01

-0.03

0.06

-0.37

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

-65.7

-4.8

-8.4

14.4

-93.1

Diluted Weighted Average Shares

480.0

374.7

249.5

249.6

249.6

Diluted EPS Excluding ExtraOrd Items

-0.14

-0.01

-0.03

0.06

-0.37

Diluted EPS Including ExtraOrd Items

-0.14

-0.01

-0.03

0.06

-0.37

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

-60.0

-5.4

2.1

16.3

-16.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

4.5

0.0

6.9

1.3

56.9

Normalized Income After Taxes

-64.5

-5.4

-4.8

15.0

-73.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-57.4

-4.8

3.6

14.5

12.6

 

 

 

 

 

 

Basic Normalized EPS

-0.12

-0.01

0.01

0.06

0.05

Diluted Normalized EPS

-0.12

-0.01

0.01

0.06

0.05

Interest Capitalized

-0.1

-0.1

-

-0.1

-0.1

R&D Expense, Supplemental

1.3

0.7

0.7

1.0

0.8

Interest Expense, Supplemental

1.2

1.6

1.8

1.6

1.5

Depreciation, Supplemental

6.7

6.2

5.7

5.2

4.9

Amortization

0.0

0.6

-0.2

0.8

0.4

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2007

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

29.1565

31.985

32.818

32.4345

32.585

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Cash Equivalent

54.9

44.8

21.7

42.9

82.6

    Financial Assets-Fair Value,Current

0.0

0.0

0.0

5.4

5.5

    Financial Assets for Sale

0.0

0.2

0.1

0.5

0.0

    Notes Receivable

-

-

0.0

0.0

0.0

    Accounts Receivable, Gross

112.1

95.7

54.3

30.8

12.3

    Provision for Doubtful Accounts

-32.6

-13.9

0.0

-0.1

0.0

    Other Financial Assets, Current

-

-

-

-

1.2

    Raw Material

12.3

17.6

27.7

5.7

6.7

    Supplies

2.9

5.1

2.8

0.9

0.5

    Work-in-Process

36.2

13.3

10.4

21.2

6.4

    Finished Goods

18.6

14.4

26.0

8.2

3.7

    Merchandise

7.4

0.0

0.0

0.0

-

    Provision/Allowance for Inventory

-

-

-7.9

-0.5

-0.2

    Prepayment

30.7

100.9

73.9

22.4

4.8

    Deferred Income Tax Assets, Current

1.1

1.0

1.5

0.0

0.2

    Restricted Assets

0.1

0.1

0.3

0.0

-

    Other Current Assets

13.2

14.5

11.4

7.0

1.4

Total Current Assets

257.0

293.7

222.2

144.4

125.2

 

 

 

 

 

 

    Long Term Equity Investment

-

0.0

28.9

5.1

0.0

    Financial Assets at Cost - Non-current

1.7

17.9

1.5

1.5

0.0

    Land

3.4

4.6

1.5

0.0

-

    Buildings and Structures

13.8

63.8

30.1

6.3

6.2

    Machinery and Equipment

133.1

76.0

63.5

30.0

10.8

    Molding Equipment

0.1

-

-

-

-

    Office Equipment

0.5

0.0

0.0

0.0

0.0

    Other Equipment

2.2

2.0

1.6

0.5

0.3

    Leasehold Improvements

54.7

3.0

-

-

-

    Accumulated Depreciation

-47.6

-26.6

-15.6

-6.5

-3.5

    Construction in Progress

4.5

43.4

33.9

70.4

7.5

    Prepayment for Equipment

46.2

47.1

34.3

18.9

9.4

    Patent

6.4

41.5

41.6

0.0

-

    Computer Sofeware Cost

0.3

0.2

0.2

0.1

0.0

    Goodwill

0.0

112.3

174.8

0.0

-

    Deferred Pension Cost

0.0

0.0

0.0

0.0

0.0

    Other Intangible Assets

3.2

10.1

11.3

0.0

-

    Idle Assets

35.1

-

-

-

-

    Security Deposits Paid

1.7

0.5

0.7

0.4

0.4

    Deferred Charges

0.6

0.8

0.8

0.5

0.1

    Deferred Income Tax Assets

1.2

1.1

0.0

1.1

0.0

    Prepayment

176.1

100.4

134.4

102.5

-

    Restricted Assets, Non-current

3.0

0.1

0.1

0.0

-

    Other Assets - Non-current

0.6

0.5

10.9

0.0

34.8

Total Assets

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    Short Term Borrowings

44.5

35.7

63.5

30.5

0.0

    Other ST Borrowings

5.5

1.5

-

-

-

    Short Term Notes & Bills Payable

0.0

9.9

8.5

4.6

0.0

    Notes Payable

3.8

3.2

8.0

2.4

0.4

    Other Notes Payable

-

-

-

-

1.6

    Accounts Payable

53.1

50.6

12.5

5.3

5.5

    Income Taxes Payable

1.8

0.0

3.6

1.1

1.8

    Accrued Expenses & Other Current Lia.

21.7

8.6

11.3

3.9

-

    Accrued Expenses

-

-

-

-

1.6

    Fin. Liabilities at Fair Value

2.4

0.3

2.1

17.3

9.3

    Current Portion of Corporate Bond

35.9

-

0.0

81.3

0.0

    Current Portion of LT Debt

87.3

33.0

4.1

0.0

-

    Deferred Tax Liabilities

-

-

0.0

0.2

0.0

    Other Current Liabilities

-

-

-

-

0.0

    Deferred Credit - Related Parties Gains

-

-

0.0

0.0

0.0

Total Current Liabilities

256.1

142.8

113.6

146.8

20.3

 

 

 

 

 

 

    Long Term Borrowings

123.8

226.2

269.8

92.3

77.2

    Corporate Bond Payable

30.7

33.2

30.8

0.0

0.0

Total Long Term Debt

154.5

259.4

300.6

92.3

77.2

 

 

 

 

 

 

    Accrued Pension Liabilities

-

-

-

-

0.0

    Deferred Tax Liabilities

-

0.0

1.3

0.0

-

    Consolidation Credit

-

-

0.0

0.1

0.0

    Minority Interest

17.5

112.2

154.1

41.8

4.3

Total Liabilities

428.1

514.4

569.5

281.0

101.8

 

 

 

 

 

 

    Common Stock

85.6

68.5

31.2

18.7

12.4

    Paid-In Capital

276.4

246.0

117.5

40.7

40.5

    Cpital Gain from Treasury Stock Trans.

1.3

1.2

1.2

0.0

-

    Capital Gain from LT Investment

2.0

2.8

5.8

5.2

0.0

    Employee Stock Option

0.7

0.4

-

-

-

    Capital Gain on Corporate Bonds

0.7

0.0

-

-

13.0

    Legal Reserve

0.0

9.9

5.9

3.3

1.0

    Retained Earnings

-96.1

-52.3

42.2

26.0

22.5

    Translation Adjustments

-0.7

1.2

3.6

0.0

0.0

    Unrealized Gain on Fncl. Instrument

-0.1

0.0

-0.1

0.4

0.0

Total Equity

269.6

277.7

207.3

94.2

89.4

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

697.7

792.1

776.8

375.3

191.2

 

 

 

 

 

 

    S/O-Common Stock

249.4

219.2

139.4

122.9

122.4

Total Common Shares Outstanding

249.4

219.2

139.4

122.9

122.4

T/S-Common Stock

0.0

0.0

0.0

0.0

-

Full-Time Employees

2,208

1,468

1,002

588

276

Number of Common Shareholders

32,944

31,589

11,932

6,707

3,705

Current maturities

36.2

33.0

4.1

-

-

Total Long Term Debt, Supplemental

36.2

33.0

4.1

-

-

Operating Lease Maturing within 1 Year

1.5

0.7

0.8

0.7

0.3

Operating Lease Maturing within 2 Years

1.7

0.7

1.0

0.8

0.3

Operating Lease Maturing within 3 Years

1.8

0.9

1.0

1.0

-

Operating Lease Maturing within 4 Years

1.8

0.9

1.2

1.1

-

Operating Lease Payments Due in Year 5

1.8

-

-

-

-

Operating Lease Maturing in Remain Years

9.8

10.3

15.7

17.1

-

Total Operating Leases

18.6

13.5

19.7

20.7

0.6

Accumulated Benefit Obligation

0.2

0.1

0.1

0.1

0.1

Pension Obligation

0.3

0.2

0.2

0.2

0.2

Fair Value of Plan Assets

0.3

0.2

0.2

0.2

0.1

Funded Status

0.0

0.1

0.1

0.0

-0.1

Total Funded Status

0.0

0.1

0.1

0.0

-0.1

Discount Rate

2.00%

2.50%

2.50%

3.00%

2.50%

Rate of Compensation Increase

2.50%

2.50%

2.50%

3.00%

3.00%

Expected Rate of Return on Plan Assets

2.00%

2.50%

2.50%

3.00%

2.50%

Deferred Pension Cost

0.0

0.0

0.0

0.0

0.0

Accrued Pension Liabilities

-

-

-

-

0.0

Net Assets Recognized on Balance Sheet

0.0

0.0

0.0

0.0

0.0

 

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Restated Normal 
30-Jun-2011

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate

28.7235

29.4065

29.1565

31.2415

32.1315

 

 

 

 

 

 

    Cash and Cash Equivalent

69.7

141.6

54.9

65.9

56.6

    Financial Assets-Fair Value,Current

0.0

-

0.0

0.0

0.1

    Financial Assets for Sale

0.1

0.1

0.0

0.0

0.1

    Financial Assets-Held to Maturity,Curren

0.0

-

-

-

1.1

    Accounts Receivable, Gross

38.9

101.4

112.1

105.8

113.2

    Provision for Doubtful Accounts

-29.9

-31.3

-32.6

-26.9

-29.5

    Other Receivables - Related Parties

0.0

-

-

-

0.0

    Other Financial Assets - Current

4.8

-

-

-

0.0

    Raw Material

34.2

15.0

12.3

10.4

14.3

    Supplies

3.1

6.2

2.9

8.5

11.0

    Work-in-Process

11.4

28.3

36.2

22.7

19.4

    Finished Goods

21.6

34.9

18.6

8.5

13.7

    Merchandise

4.4

2.7

7.4

4.4

5.1

    Prepayment

11.0

19.7

30.7

72.1

64.3

    Deferred Income Tax Assets, Current

1.1

1.1

1.1

1.0

1.0

    Restricted Assets

-

2.1

0.1

0.1

-

    Other Current Assets

8.7

10.8

13.2

12.5

11.7

Total Current Assets

179.1

332.7

257.0

285.0

282.0

 

 

 

 

 

 

    Long Term Equity Investment

-

-

-

0.0

-

    Fin.Assets-Held to Maturity, Non-Current

0.0

-

-

-

0.8

    Financial Assets at Cost - Non-current

1.7

1.7

1.7

8.2

8.0

    Other Financial Assets - Non-Current

2.2

-

-

-

1.6

    Land

3.5

3.4

3.4

4.7

4.6

    Buildings and Structures

37.3

35.8

13.8

17.6

63.7

    Machinery and Equipment

178.2

141.9

133.1

113.5

110.5

    Molding Equipment

-

0.1

0.1

0.1

-

    Office Equipment

1.3

0.5

0.5

0.0

0.0

    Leasehold Improvement

32.7

32.0

54.7

50.8

3.0

    Other Equipment

1.5

2.1

2.2

2.4

2.3

    Accumulated Depreciation

-52.5

-52.9

-47.6

-41.4

-35.3

    Accumulated Impairment on Fixed Assets

0.0

-

-

-0.3

-0.3

    Construction in Progress

5.9

5.1

4.5

47.4

44.9

    Prepayment for Equipment

2.9

37.9

46.2

47.9

34.0

    Trademark

0.0

6.4

6.4

6.4

6.4

    Computer Sofeware Cost

0.3

0.3

0.3

0.1

0.2

    Deferred Pension Cost

0.0

0.0

0.0

0.0

0.0

    Goodwill

-

-

0.0

0.0

-

    Other Intangible Assets

0.0

3.1

3.2

3.4

3.5

    Idled Assets

34.7

34.6

35.1

0.1

0.1

    Security Deposits Paid

-

1.7

1.7

1.5

-

    Deferred Charges

1.1

0.6

0.6

0.6

0.9

    Deferred Income Tax Assets

1.2

1.2

1.2

1.1

1.2

    Restricted Assets, Non-current

2.7

3.2

3.0

0.1

0.0

    Prepayment for Goods

188.9

187.0

176.1

130.4

129.0

    Other Assets - Non-current

0.0

0.5

0.6

0.5

0.6

Total Assets

622.5

778.7

697.7

680.2

661.9

 

 

 

 

 

 

    Short Term Borrowings

16.3

8.6

44.5

54.8

57.0

    Other Short Term Borrowings

-

5.5

5.5

5.1

-

    Commercial Paper Payable

0.0

-

0.0

0.0

2.5

    Notes Payable

2.3

3.2

3.8

2.9

2.4

    Accounts Payable

21.9

41.4

53.1

42.8

67.8

    Income Taxes Payable

-

1.8

1.8

1.1

-

    Accrued Expenses & Other Current Lia.

-

18.9

21.7

18.3

-

    Accrued Expenses

19.3

-

-

-

15.2

    Financial Liabilities at Fair Value

2.1

2.6

2.4

1.0

0.9

    Current Portion of Corporate Bond

48.4

66.6

35.9

21.1

17.2

    Current Portion of LT Debt

87.2

108.1

87.3

49.7

12.1

    Other Current Liabilities

6.2

-

-

-

0.0

Total Current Liabilities

203.7

256.6

256.1

196.8

175.1

 

 

 

 

 

 

    Convertible Corporate Bond Payable

0.1

-

30.7

41.7

43.9

    Long Term Debt

30.0

70.3

123.8

153.6

176.2

Total Long Term Debt

30.1

70.3

154.5

195.3

220.1

 

 

 

 

 

 

    Minority Interest

9.8

17.0

17.5

26.3

25.7

Total Liabilities

243.6

343.9

428.1

418.4

420.9

 

 

 

 

 

 

    Common Stock

166.9

163.0

85.6

79.8

77.6

    Stock Dividend for Distribution

-

-

-

0.0

-

    Paid-In Capital

279.0

367.9

276.4

257.9

250.8

    Cpital Gain from Treasury Stock Trans.

1.3

1.3

1.3

1.2

1.2

    Capital Gain from LT Investment

2.0

2.0

2.0

2.4

2.3

    Employee Stock Option

0.9

0.8

0.7

-

0.5

    Capital Gain on Corporate Bonds

0.7

0.7

0.7

-

0.6

    Stock Option

-

-

-

0.5

-

    Convertible Bonds Option

-

-

-

0.6

-

    Capital Surplus, Other

-

-

-

0.0

-

    Legal Reserve

-

-

0.0

0.0

-

    Retained Earnings

-71.0

-100.2

-96.1

-81.6

-93.7

    Translation Adjustments

-0.9

-0.5

-0.7

1.0

1.7

    Unrealized Gain on Fncl. Instrument

-0.1

-0.1

-0.1

-0.1

-0.1

Total Equity

378.9

434.9

269.6

261.8

241.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

622.5

778.7

697.7

680.2

661.9

 

 

 

 

 

 

    S/O-Common Stock

479.4

479.4

249.4

249.4

249.4

Total Common Shares Outstanding

479.4

479.4

249.4

249.4

249.4

T/S-Common Stock

0.0

0.0

0.0

0.0

0.0

Full-Time Employees

-

-

2,208

-

-

Current maturities

-

-

36.2

-

-

Total Long Term Debt, Supplemental

-

-

36.2

-

-

Operating Lease Maturing within 1 Year

-

1.1

1.5

0.2

-

Operating Lease Maturing within 2 Years

-

1.7

1.7

0.8

-

Operating Lease Maturing within 3 Years

-

1.8

1.8

0.9

-

Operating Lease Maturing within 4 Years

-

1.8

1.8

0.9

-

Operating Lease Maturing within 5 Years

-

1.8

1.8

-

-

Operating Lease Maturing in Remain Years

-

9.8

9.8

11.0

-

Total Operating Leases

-

18.0

18.6

13.8

-

Deferred Pension Cost

-

0.0

0.0

0.0

-

Net Assets Recognized on Balance Sheet

-

0.0

0.0

0.0

-

 

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

31.497037

33.023867

31.543497

32.848802

32.525305

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Ernst & Young LLP

Ernst & Young LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

-89.0

-70.9

38.5

23.3

22.5

    Depreciation

19.9

12.4

8.6

2.9

1.5

    Minority Interest

-96.2

-58.6

3.8

0.0

0.0

    Amortisation of Intangibles

1.6

1.9

1.6

0.5

-

    Amortization of Deferred Charges

-

-

-

-

0.0

    Employee Stock Option Cost

0.6

0.9

1.3

0.0

-

    Investment Loss-Equity Method

0.0

3.3

0.9

0.1

-

    Loss on Redemption on Corporate Bond

-0.5

0.1

3.7

0.0

-

    Loss on Revaluation of Convertable Bonds

-0.7

-0.3

-3.8

-0.6

0.3

    Impairment Loss on Assets

181.6

78.2

0.0

-

-

    Foreign Change Effects on Corp. Bonds

-

-

-

-

-0.2

    G/L on Financial Products Valuation

1.6

-0.7

-2.6

-5.0

-

    Amort. of Bond Discount

1.8

1.2

2.5

4.2

-

    Gain/Loss on Disposal of Properties

0.7

0.0

0.0

-

-

    Deferred Credit-Related Parties Gain

-

0.0

0.0

0.0

-

    Gain on Sale of Investments

-1.3

-0.5

-0.2

-

-

    Depreciation on Corp. Bonds

-

-

-

-

0.5

    Accounts Receivable

9.5

-25.3

-16.4

-

-11.9

    Notes & Accounts Receivable

-

-

-

-17.6

-

    Other Financial Assets, Current

-

-

-

-

-0.7

    Inventories

-22.9

9.8

-12.5

-18.6

-8.7

    Prepayment

2.0

-1.3

-55.7

-84.0

-39.0

    Other Current Assets

2.6

-2.7

0.4

-4.3

-1.2

    Deferred Tax Assets

0.0

-1.8

0.6

-0.7

0.5

    Financial Products-Trading

-0.6

-1.3

1.7

-0.1

-

    Fin. Assets at Fair Value

-

-

-

-

-5.6

    Deferred Pension Cost

0.0

0.0

0.0

0.0

-

    Notes Payable

0.1

0.6

0.5

0.3

0.2

    Accounts Payable

-2.2

36.6

5.4

-0.2

2.8

    Taxes Payable

1.7

-3.6

2.6

-0.6

1.4

    Accrued Expenses & Other Current Lia.

5.5

-0.9

1.1

1.2

-

    Accrued Expenses

-

-

-

-

1.0

    Fin. Liabilities for Trading

-

-

-

0.0

-

    Fin. Liabilities at Fair Value

-

-

-

-

0.0

    Other Current Liabilities

-

-

-

-

0.0

    Accrued Pension Liabilities

-

-

-

0.0

0.0

Cash from Operating Activities

15.6

-22.9

-18.3

-99.2

-36.6

 

 

 

 

 

 

    Capital Expenditure

-47.3

-69.7

-69.0

-89.6

-21.0

    Disposal of Fixed Assets

0.7

0.0

0.0

-

-

    Intangible Assets - Computer Software

-0.2

0.0

-172.2

-0.1

-

    Restricted Assets

-0.4

0.2

-0.4

0.0

-

    Deferred Charges

-0.1

-0.4

-0.9

-0.9

0.0

    Sale of Investments

-

9.6

0.0

-

-

    Purchase of Fin. Assets-Held to Maturity

-1.9

-

-

-

-

    Disposal of Fin. Assets-Held to Meturity

1.9

-

-

-

-

    Purchase of Financial Assets for Sale

-5.7

-

-

-0.1

-

    Investment Available for Sale Dec.

5.7

0.1

0.3

-

-

    Disposal of Financial Assets-Cost Method

16.8

-

-

-

-

    LT Equity Investment Increase

-

0.0

-13.2

-1.0

-

    Fncl. Assets for Trading

-

-

-

-5.3

-

    Other Assets

-0.1

-0.1

-11.2

0.0

-

    Security Deposit Paid

-1.2

0.2

-0.2

0.0

-

Cash from Investing Activities

-31.7

-60.0

-267.0

-97.1

-21.0

 

 

 

 

 

 

    Short Term Borrowings

4.0

-26.6

28.9

30.1

0.0

    Other Short Term Borrowings

5.9

1.5

0.0

-

-

    Short Term Notes

-10.0

1.2

4.1

4.6

-0.6

    Issuance Corp. Bonds

29.6

27.3

-

-

99.2

    Redemption of Corp. Bonds

-

-

-40.9

0.0

-

    Cash Capital

57.8

112.0

0.0

-

29.5

    Long Term Borrowing, Net

-67.2

-20.8

178.2

91.2

-

    Directors Remuneration & Employees Bonus

-

0.0

-1.4

-0.5

-

    Employees Bonus

-

-

-

-

-0.2

    Cash Dividend

0.0

-1.8

-6.2

-11.0

-3.7

    Minority Interest

-1.5

13.9

78.3

42.8

4.3

Cash from Financing Activities

18.5

106.6

241.1

157.1

128.5

 

 

 

 

 

 

Foreign Exchange Effects

2.8

-1.9

-2.8

0.0

-

Net Change in Cash

5.3

21.8

-47.0

-39.2

70.8

 

 

 

 

 

 

Net Cash - Beginning Balance

45.5

21.6

69.6

81.6

11.9

Net Cash - Ending Balance

50.8

43.4

22.6

42.4

82.8

    Cash Interest Paid

6.2

4.3

8.7

1.2

0.0

    Cash Taxes Paid

0.1

2.8

2.0

1.5

0.4

 

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Updated Normal 
30-Jun-2010

Filed Currency

TWD

TWD

TWD

TWD

TWD

Exchange Rate (Period Average)

29.074238

29.305764

31.497037

31.886422

31.875049

 

 

 

 

 

 

Net Income

-77.7

-4.8

-89.0

-80.0

-94.4

    Depreciation

12.9

6.2

19.9

14.3

9.2

    Amortisation of Intangibles

0.6

0.6

1.6

1.8

0.9

    Minority Interest

-

-0.5

-96.2

-87.0

-87.6

    Provision for Doubtful Accounts

-2.8

-

-

-

-

    Employee Stock Option Cost

0.3

0.1

0.6

0.4

0.3

    Amort. of Bond Discount

1.0

0.5

1.8

1.3

0.8

    G/L on Revaluation of Convert. Bonds

-0.2

0.1

-0.7

-0.3

0.1

    Inventory Devaluation & Obsolescence

31.7

-

-

-

0.0

    Obsolete Loss on Inventories

0.4

-

-

-

0.0

    Investment Loss-Equity Method

-

-

0.0

0.0

0.0

    Gain/Loss on Disposal of Properties

0.0

-

0.7

0.1

0.1

    Gain on Sale of Investments

0.0

-

-1.3

-0.6

-0.6

    Revaluation of Fncl. Instruments

0.2

0.6

1.6

0.7

0.6

    Impairment Loss on Assets

12.6

-

181.6

162.3

162.4

    Expense - Prepayment for Equipment

0.8

-

-

-

0.0

    Redemption of Convert. Bonds

0.7

-

-0.5

-0.5

-0.5

    Deferred Tax Assets

-

-

0.0

0.0

-0.2

    Financial Assets-Trading

0.0

-0.5

-0.6

-0.3

-0.3

    Notes & Accounts Receivable

-

8.8

-

-

-2.3

    Accounts Receivable

73.5

-

9.5

4.7

-

    Other Receivables - Related Parties

0.0

-

-

-

0.0

    Inventories

-28.6

-10.4

-22.9

-2.9

-13.6

    Prepayment

9.6

-0.7

2.0

-5.6

-0.8

    Other Financial Assets, Current

-4.6

-

-

-

0.0

    Other Current Assets

5.0

2.3

2.6

1.8

2.3

    Deferred Pension Cost

-

-

0.0

0.0

0.0

    Notes Payable

-1.4

-0.3

0.1

-1.9

0.5

    Accounts Payable

-36.7

-11.3

-2.2

-8.8

17.6

    Taxes Payable

-1.8

-

1.7

1.1

0.0

    Accrued Expenses & Other Current Lia.

1.4

-2.5

5.5

9.3

3.7

    Accrued Pension Liabilities

0.0

-

-

-

0.0

Cash from Operating Activities

-3.1

-12.0

15.6

9.9

-1.8

 

 

 

 

 

 

    Financial Assets at Cost - Non-current

-

-

-

9.9

-

    Financial Assets for Sale increased

0.0

-

-5.7

-5.6

-5.6

    Financial Assets for Sale Decrease

0.0

-

5.7

5.6

5.6

    Purchase of Fin. Assets-Held to Maturity

0.0

-

-1.9

-1.9

-1.9

    Disposal of Fin. Assets-Held to Maturity

-

-

1.9

1.9

-

    Disposal of Financial Assets-Cost Method

0.0

-

16.8

-

9.9

    Capital Expenditure

-6.4

-3.1

-47.3

-38.2

-23.8

    Disposal of Fixed Assets

0.0

-

0.7

0.4

0.4

    Deferred Charges

0.1

-

-0.1

0.0

0.0

    Intangible Assets Increase

-0.1

-0.1

-0.2

0.0

0.0

    Restricted Assets

0.0

-2.1

-0.4

0.0

0.1

    Security Deposit Paid

-

0.0

-1.2

-1.0

-1.0

    Other Financial Assets - Non-current

0.1

-

-

-

-

    Other Assets - Other

0.0

0.0

-0.1

-0.1

-0.1

Cash from Investing Activities

-6.3

-5.3

-31.7

-29.0

-16.4

 

 

 

 

 

 

    Short Term Borrowings Increase/Decrease

-34.0

-35.8

4.0

18.1

15.0

    Other Short Term Borrowings

-

-

5.9

3.6

5.0

    Commercial Paper Increase/Decrease

0.0

-

-10.0

-9.9

-7.4

    Long Term Borrowing Decrease

-96.0

-31.1

-67.2

-60.6

-70.6

    Issuance of Convertible Corp. Bonds

-

-

29.6

29.2

29.2

    Corp. Convertible Bonds Decrease

-20.7

-

-

-

-

    Cash Capital

174.0

172.7

57.8

57.5

57.6

    Cash Dividend

-

-

0.0

-

-

    Minority Interest

0.0

0.2

-1.5

0.1

0.8

Cash from Financing Activities

23.3

106.0

18.5

38.0

29.6

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-1.2

2.8

0.7

0.8

Net Change in Cash

13.8

87.5

5.3

19.6

12.1

 

 

 

 

 

 

Net Cash - Beginning Balance

55.0

54.6

45.5

44.9

45.0

Net Cash - Ending Balance

68.8

142.1

50.8

64.5

57.1

    Cash Interest Paid

2.7

1.8

6.2

4.7

3.3

    Cash Taxes Paid

1.8

0.0

0.1

0.1

0.1

 

 

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

36.6

5.9 %

4.3

1.1 %

48.3

9.2 %

Taiwan

587.2

94.1 %

399.2

98.9 %

478.4

90.8 %

Segment Total

623.8

100 %

403.5

100 %

526.7

100 %

Intercompany Eliminations

-

-

-

-

0.0

0 %

Consolidated Total

623.8

100 %

403.5

100 %

526.7

100 %

Exchange Rate: TWD to USD

31.497037

 

33.023867

 

31.543497

 

Intersegment Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

4.3

6.4 %

5.1

24.4 %

6.2

41.9 %

Taiwan

62.6

93.6 %

15.9

75.6 %

8.6

58.1 %

Segment Total

66.9

100 %

21.0

100 %

14.9

100 %

Intercompany Eliminations

-66.9

-100 %

-21.0

-100 %

-14.9

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: TWD to USD

31.497037

 

33.023867

 

31.543497

 

 

Total Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

40.9

5.9 %

9.4

2.2 %

54.5

10.1 %

Taiwan

649.8

94.1 %

415.1

97.8 %

487.1

89.9 %

Segment Total

690.7

100 %

424.6

100 %

541.6

100 %

Intercompany Eliminations

-66.9

-9.7 %

-21.0

-5 %

-14.9

-2.7 %

Consolidated Total

623.8

90.3 %

403.5

95 %

526.7

97.3 %

Exchange Rate: TWD to USD

31.497037

 

33.023867

 

31.543497

 

Income Before Tax   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

-1.4

-15 %

-9.8

18.6 %

12.9

24.4 %

Taiwan

10.9

115 %

-42.6

81.4 %

39.8

75.6 %

Segment Total

9.5

100 %

-52.4

100 %

52.7

100 %

Intercompany Eliminations

-0.9

-9.3 %

0.1

-0.1 %

0.1

0.1 %

Corporate Expense/Other

-192.3

-2,019.9 %

-79.8

152.3 %

-4.2

-8.1 %

Consolidated Total

-183.7

-1,929.2 %

-132.1

252.2 %

48.5

92.1 %

Exchange Rate: TWD to USD

31.497037

 

33.023867

 

31.543497

 

 

Pre-Tax Margin (%)  

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

-3.5

-

-103.5

-

23.6

-

Taiwan

1.7

-

-10.3

-

8.2

-

Segment Total

1.4

-

-12.3

-

9.7

-

Intercompany Eliminations

1.3

-

-0.3

-

-0.4

-

Consolidated Total

-29.4

-

-32.7

-

9.2

-

Total Assets   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

North America/South America/Central America

21.9

5 %

7.1

2 %

24.3

9.1 %

Taiwan

415.7

95 %

339.8

98 %

241.7

90.9 %

Segment Total

437.6

100 %

346.9

100 %

266.0

100 %

Intercompany Eliminations

-34.7

-7.9 %

-1.6

-0.4 %

-3.5

-1.3 %

Corporate Expense/Other

294.8

67.4 %

446.8

128.8 %

514.3

193.3 %

Consolidated Total

697.7

159.4 %

792.1

228.3 %

776.8

292 %

Exchange Rate: TWD to USD

29.156500

 

31.985000

 

32.818000

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.96

UK Pound

1

Rs.82.04

Euro

1

Rs.68.91

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.