|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
AU OPTRONICS CORP. |
|
|
|
|
Registered Office : |
No.1 Li-Hsin Road 2, Science-Based Industrial Park, Hsinchu |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.08.1996 |
|
|
|
|
Com. Reg. No.: |
84149738 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Design, research, development, manufacture and sales of display panel. |
|
|
|
|
No. of Employees : |
About 45,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing
government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. In
2012, however, growth fell to 1.3%, because of softening global demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, but except for the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has
been excluded from this greater economic integration in part because of its
diplomatic status. Negotiations continue on such follow-on components of ECFA
regarding trade in goods and services. The MA administration has said that the
ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
Taiwan's Total Fertility rate of just over one child per woman is among the
lowest in the world, raising the prospect of future labor shortages, falling
domestic demand, and declining tax revenues. Taiwan's population is aging
quickly, with the number of people over 65 accounting for 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Three financial memorandums of understanding, covering banking,
securities, and insurance, took effect in mid-January 2010, opening the island
to greater investments from the mainland's financial firms and institutional
investors, and providing new opportunities for Taiwan financial firms to
operate in China. In August 2012, Taiwan Central Bank signed a memorandum of
understanding on cross-Strait currency settlement with its Chinese counterpart.
The MOU allows for the direct settlement of Chinese RMB and the New Taiwan
dollar across the Strait, which could help develop Taiwan into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for the
Taiwan economy, but also poses new challenges as the island becomes more
economically dependent on China while political differences remain unresolved.
Source
: CIA
|
Company Name: |
|
|
Former Name: |
Acer Display
Technology,Inc. |
|
Supplied Name: |
|
|
Trading Address: |
No.1 Li-Hsin Road 2, Science-Based
Industrial Park, Hsinchu, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-500-8800 |
|
Fax Number: |
|
|
Email |
|
|
Website |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
|
|
Registered Address: |
No.1 Li-Hsin Road 2, Science-Based Industrial Park, Hsinchu, Taiwan,
R.O.C. |
|
Date of Foundation: |
1996-8-12 |
|
Registration Number: |
84149738 |
|
Registry: |
Science Park Administration |
|
Registered Capital: |
NTD 100,000,000,000 (USD 3,390,000,000) (As of 2013.08, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 96,242,451,150 (USD 3,262,619,094) |
|
Legal Representatives: |
Kunyao Li |
|
Legal Form: |
|
|
Principal Activities: |
Design, research,
development, manufacture and sales of display panel. |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1996-8-12 with registered
number 84149738 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 2000-9-8.
Subject listed on New York stock exchange on May 2012.
Change of Name
|
Former Chinese
Name |
達碁科技股份有限公司 |
|
Current Chinese
Name |
|
Former English
Name |
Acer Display
Technology,Inc. |
|
Current English
Name |
Au Optronics
Corp. |
|
Subscription Shares |
|
|
Kunyao Li |
10,521,153 |
|
Shuanglang Peng |
2,463,660 |
|
Zhengyi Lin |
1,770,785 |
|
Qisda Corporation |
663,598,620 |
|
Jinbin Peng |
96,670 |
The information above
is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
|
|
Registration
Number |
12490306 |
|
Address |
No.157,
Shan-Ying Road, Shan-Ting Tsun, Gueishan Hsiang, Taoyuan County, Taiwan, R.O.C. |
|
Date of Foundation: |
1984-4-21 |
|
Telephone Number: |
+886-3-359-8800 |
|
Fax Number: |
+886-3-374-8150 |
|
Legal Representatives: |
Kunyao Li |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
50,000,000,000 NTD (USD 1,695,000,000) (As of 2013.08, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
19,667,819,580 NTD (USD 666,739,084) |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2013-11-2 |
|
Website |
|
|
2 |
|
|
Name: |
Darfon Electronics Corp. |
|
Address: |
167 Shan-ying Road, Gueishan, Taoyuan 333, Taiwan, R.O.C. |
|
Telephone Number
|
+886-3-250-8800 |
|
Fax Number |
+886-3-250-7180 |
|
Website |
|
|
3 |
|
|
Name: |
BenQ Materials
Corp. |
|
Address: |
29 Jianguo E. Rd., Gueishan, Taoyuan 33341, Taiwan |
|
Telephone Number
|
+886-3-374-8800 |
|
Fax Number |
+886-3-361-9900 |
|
Website |
|
|
4 |
|
|
Name: |
Raydium Semiconductor Corp. |
|
Address: |
2F,No 23. Lihsin Road, Hsinchu Science Park ,Hsinchu 300,Taiwan |
|
Telephone Number
|
+886-3-666-1818 |
|
Fax Number |
+886-3-666-1919 |
|
Website |
|
|
5 |
|
|
Name: |
Lextar Electronics Corp. |
|
Website |
|
|
6 |
|
|
Name: |
BriView Corporation |
|
8 |
|
|
Name: |
|
Branch Companies
|
1 |
|
|
Name |
Au Optronics
Corp. Taoyuan Branch |
|
Registration
Number |
16130599 |
|
Address |
No.1, Xinhe Rd.,
Aspire Park, Lungtan, Taoyuan Hsien 325,Taiwan,R.O.C. |
|
Legal Representatives: |
Kunyao Li |
|
Date of
Registration |
1999-7-27 |
|
Status: |
Live company |
|
Date of Last
Annual Return |
2001-5-31 |
|
2 |
|
|
Name |
Taichung Branch |
|
Registration
Number |
12800484 |
|
Address |
No. 1, zhongke road,
lincuoli, xitun dist, Taichung city, Central Taiwan Science Park, Taiwan. |
|
Date of
Registration |
2004-2-2 |
|
Date Of
Dissolved |
2006-6-30 |
|
Status: |
Dissolved |
|
Date of Last
Annual Return |
2006-6-30 |
Factories
|
1 |
|
|
Name: |
Taicung Factory |
|
Address: |
1, Zhongke Rd.,
Central Taiwan Science Park, Taichung 40763, Taiwan, R.O.C. |
|
Factory Registration Number: |
93A00001 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
2 |
|
|
Name: |
Houli Factory |
|
Address: |
No.1, Machang
Rd., Houli Dist, Taichung City 42147, Taiwan, R.O.C. |
|
Date of Registration: |
2010-12-15 |
|
Factory Registration Number: |
93B00001 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2012-10-31 |
|
3 |
|
|
Name: |
L3A Factory |
|
Address: |
No. 5, Li-Hsin
Rd. 6, Hsinchu Science Park, Hsinchu 30078, Taiwan, R.O.C. |
|
Date of Registration: |
1997-6-30 |
|
Factory Registration Number: |
95B00317 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2009-4-20 |
|
4 |
|
|
Name: |
L3B Factory |
|
Address: |
No. 1, Li-Hsin
Rd. 2, Hsinchu Science Park, Hsinchu 30078, Taiwan, R.O.C. |
|
Date of Registration: |
1997-6-30 |
|
Factory Registration Number: |
95C00317 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2009-4-20 |
|
5 |
|
|
Name: |
L5 Factory |
|
Address: |
No. 23, Li-Hsin
Rd., Hsinchu Science Park, Hsinchu 30078, Taiwan, R.O.C. |
|
Date of Registration: |
1997-6-30 |
|
Factory Registration Number: |
95D00317 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2009-4-20 |
|
6 |
|
|
Name: |
Longke Factory |
|
Address: |
228-1/338-1,
Lungke St., Lungtan, Taoyuan 32542, Taiwan, R.O.C. |
|
Date of Registration: |
1997-6-30 |
|
Factory Registration Number: |
95D00317 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2009-4-20 |
|
7 |
|
|
Name: |
Taoyuan Factory |
|
Address: |
1 Xinhe Rd., Aspire
Park, Lungtan, Taoyuan 32543, Taiwan, R.O.C. |
|
Date of Registration: |
2001-1-11 |
|
Factory Registration Number: |
84149738 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2004-7-29 |
|
8 |
|
|
Name: |
Hwaya Factory |
|
Address: |
189, Hwaya Rd.
2, Kueishan, Taoyuan 33383, Taiwan, R.O.C. |
|
Date of Registration: |
2001-8-17 |
|
Factory Registration Number: |
16130599 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2011-3-29 |
|
9 |
|
|
Name: |
Zhunan Factory |
|
Address: |
No 1, Keyi Dist,
11lin, Gongyi Li, Zhunan Town, Miaoli County, Taiwan. |
|
Date of Registration: |
2001-8-23 |
|
Factory Registration Number: |
99631690 |
|
Factory Manager: |
Kunyao Li |
|
Status |
In Production |
|
Date of Last Annual Return: |
2011-4-6 |
|
10 |
|
|
Name: |
L1 Factory |
|
Address: |
No. 3, 3 Road
Industry East, East Dist, Xinzhu City, Xinzhu Science Park, Taiwan. |
|
Date of Registration: |
1997-6-30 |
|
Factory Registration Number: |
95A00317 |
|
Factory Manager: |
Kunyao Li |
|
Status: |
Closed Business |
|
Date of Last Annual Return: |
2012-7-13 |
Note: Subject also has factories located in Mainland
China, Brno, Singapore, Slovakia.
Core
Management
Directors
|
1 |
|
|
Name |
Kunyao Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shuanglang Peng |
|
Position |
Director/
Manager |
|
Date of
Appointment |
2012-1-1 |
|
3 |
|
|
Name |
Zhengyi Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Renchuan Zhuang |
|
Position |
Director |
|
5 |
|
|
Name |
Huijuan Xie |
|
Position |
Independent
Director |
|
6 |
|
|
Name |
Meiyue He |
|
Position |
Independent
Director |
|
7 |
|
|
Name |
Binghe Yang |
|
Position |
Independent
Director |
|
8 |
|
|
Name |
Tianzhi Chen |
|
Position |
|
|
9 |
|
|
Name |
Jinbin Peng |
|
Position |
Independent
Director |
Personnel
Structure
|
Total Employees |
About 45,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.1 Li-Hsin Road 2, Science-Based Industrial Park, Hsinchu, Taiwan,
R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of display panel.
l
Subject
has 8 factories in Taiwan, 3 factories in Mainland China, 3 factories in Brno,
Singapore, Slovakia for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing industry of electronic components. |
|
F119010 |
Wholesale business of electronic material.(
Limited operating outside) |
|
CC01030 |
Manufacturing industry of electrical equipment
and Audio and video electronic products, |
|
CC01010 |
Machine building
industry of generate electricity, power transmission, power distribution. |
|
CC01090 |
Manufacturing industry of battery. |
|
IG03010 |
Service industry of energy technology. |
|
-- |
Research, develop, produce, manufacture, sales of
the following products: Plasma Display Panel and its system. |
|
-- |
Liquid crystal display and its system. |
|
-- |
Organic light emitting display and its system. |
|
-- |
Amorphous silicon photoelectric sensor
components. |
|
-- |
Diaphragm type servomotor diodes photoelectric
sensor components. |
|
-- |
Thin-film transistors photoelectric sensor
components. |
|
-- |
Contact image inductor |
|
-- |
Color active matrix tablet imaging device. |
|
-- |
Field emission display. |
|
-- |
Single crystal silicon liquid crystal display. |
|
-- |
Amorphous silicon thin-film electric system
process of foundry and flat panel display module. |
|
-- |
Flat panel display products of accept
commissioned to devise and accept the original factory entrusted
manufacturing business. |
|
-- |
Solar cell, module, related systems and service. |
|
-- |
New clean energy related systems and services(
Limited operating outside) |
|
-- |
Besides licensed business,
all other business items those are not banned or restricted. |
l
The components and raw material for production are
purchased from both home and abroad.
l
The
subject is mainly engaged in sales of display
panel.
l
The
major products sold by subject include liquid crystal display panels, solar
panel, etc.
l
Subject provides panels’ sizes ranging from 1.2
inches (30 mm) to 65 inches (1,700 mm).
l
The
products are applied in Liquid Crystal Display Television, notebook computer,
digital camera, mobile phone, etc.
l
The subject sales regions include Asia, America,
Europe, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Material |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Material |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Display Panel |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Display Panel |
L/C, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash
equivalents |
48,145,116.00 |
54,825,447.00 |
|
Financial assets
measured at fair value through profit or loss - current |
11,696.00 |
65,622.00 |
|
Accounts
receivable - net |
35,067,381.00 |
42,278,265.00 |
|
Accounts receivable
- related parties - net |
5,517,923.00 |
4,041,586.00 |
|
Other
receivables - related parties |
322,003.00 |
402,900.00 |
|
Other financial
assets - current |
941,418.00 |
1,138,066.00 |
|
Inventories |
32,946,900.00 |
35,942,700.00 |
|
Other prepayments |
6,290,129.00 |
6,308,959.00 |
|
Other current
assets |
1,482,746.00 |
2,158,673.00 |
|
Current assets |
130,725,312.00 |
147,162,218.00 |
|
Funds and
Investments |
|
|
|
Equity
investments under equity method |
69,403,377.00 |
76,817,592.00 |
|
Investments |
69,403,377.00 |
76,817,592.00 |
|
Funds and
long-term investments |
69,403,377.00 |
76,817,592.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
6,273,615.00 |
6,273,615.00 |
|
Buildings and
structures |
84,107,180.00 |
83,780,879.00 |
|
Machinery and
equipment |
598,386,242.00 |
598,506,133.00 |
|
Other facilities |
26,013,296.00 |
27,754,804.00 |
|
Fixed assets
cost |
714,780,333.00 |
716,315,431.00 |
|
Accumulated
depreciation |
-502,957,443.00 |
-466,560,938.00 |
|
Construction in process
and prepayment for equipments |
5,404,418.00 |
10,057,641.00 |
|
Fixed assets |
217,227,308.00 |
259,812,134.00 |
|
Intangible
Assets |
|
|
|
Goodwill |
11,280,595.00 |
11,280,595.00 |
|
Other intangible
assets |
3,647,347.00 |
3,971,578.00 |
|
Intangible
assets |
14,927,942.00 |
15,252,173.00 |
|
Other Assets |
|
|
|
Idled assets |
1,790,252.00 |
1,127,152.00 |
|
Guarantee
deposits paid |
137,645.00 |
146,626.00 |
|
Deferred charges |
649,331.00 |
798,139.00 |
|
Deferred income tax
assets - non current |
12,277,918.00 |
10,819,047.00 |
|
Other assets -
other |
1,275,110.00 |
1,478,660.00 |
|
Other assets |
16,130,256.00 |
14,369,624.00 |
|
Assets |
448,414,195.00 |
513,413,741.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current
Liabilities |
|
|
|
Short-term
borrowings |
3,500,000.00 |
4,400,000.00 |
|
Financial
liabilities measured at fair value through profit or loss - current |
578,601.00 |
657 |
|
Accounts payable |
34,948,149.00 |
30,022,280.00 |
|
Accounts payable
- related parties |
44,240,865.00 |
50,991,341.00 |
|
Accrued expenses |
30,622,201.00 |
30,724,051.00 |
|
Other payables -
related parties |
463,112.00 |
743,679.00 |
|
Other payables |
8,725,070.00 |
12,177,287.00 |
|
Long-term liabilities
- current portion |
38,254,729.00 |
42,677,629.00 |
|
Current
liabilities |
161,332,727.00 |
171,736,924.00 |
|
Long term
Liabilities |
|
|
|
Hedging
derivative liabilities - non current |
58,547.00 |
193,223.00 |
|
Bonds payable |
21,598,083.00 |
21,787,128.00 |
|
Long-term
borrowings |
106,585,843.00 |
111,840,571.00 |
|
Long-term
deferred revenues |
554,276.00 |
655,907.00 |
|
Long-term
liabilities |
128,796,749.00 |
134,476,829.00 |
|
Reserves |
|
|
|
Other
Liabilities |
|
|
|
Other
liabilities |
9,133,864.00 |
1,811,272.00 |
|
Liabilities |
299,263,340.00 |
308,025,025.00 |
|
Stockholders'
Equity |
|
|
|
Capital |
|
|
|
Common stock |
88,270,455.00 |
88,270,455.00 |
|
Capital Surplus |
|
|
|
Capital surplus
- additional paid-in capital |
58,591,843.00 |
58,591,843.00 |
|
Capital surplus
- long-term equity investments |
1,782,970.00 |
2,635,128.00 |
|
Capital surplus
- premium from merger |
53,867,555.00 |
56,340,038.00 |
|
Capital surplus
- other |
142,054.00 |
142,054.00 |
|
Capital surplus |
114,384,422.00 |
117,709,063.00 |
|
Retained
Earnings |
|
|
|
Legal reserve |
0 |
15,875,372.00 |
|
Unappropriated
retained earnings |
-54,614,704.00 |
-18,347,855.00 |
|
Retained
earnings |
-54,614,704.00 |
-2,472,483.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
1,101,768.00 |
2,021,571.00 |
|
Net loss not
recognized as pension cost |
-1,933.00 |
-1,316.00 |
|
Unrealized gains
(losses) on financial instruments |
10,847.00 |
-138,574.00 |
|
Equity
adjustments |
1,110,682.00 |
1,881,681.00 |
|
Stockholdersˉ
equity |
149,150,855.00 (USD 5,056,213,985.00) |
205,388,716.00 (USD 63,788,986.00) |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
0 |
0 |
|
|
0 |
0 |
(As of 2013.08, 1 NTD =
0.0339 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
365,309,596.00 (USD 12,383,995,304.00) |
361,983,863.00 (USD 12,271,252,955.00) |
|
Sales discounts
and allowances |
2,315,014.00 |
2,455,791.00 |
|
Sales |
362,994,582.00 |
359,528,072.00 |
|
Operating income |
362,994,582.00 |
359,528,072.00 |
|
Cost of sales |
372,020,721.00 |
391,189,007.00 |
|
Operating costs |
372,020,721.00 |
391,189,007.00 |
|
Gross profit
(loss) from operations |
-9,026,139.00 |
-31,660,935.00 |
|
Selling expense |
8,447,047.00 |
8,189,143.00 |
|
General and
administrative expenses |
5,229,218.00 |
6,547,620.00 |
|
Research and
development expenses |
9,384,913.00 |
8,088,775.00 |
|
Operating
expenses |
23,061,178.00 |
22,825,538.00 |
|
Operating income
(loss) |
-32,087,317.00 |
-54,486,473.00 |
|
Non-Operating
Income |
|
|
|
Interest income |
226,893.00 |
182,667.00 |
|
Inome from
long-term equity investments under the equity method |
0.00 |
0.00 |
|
Investment
income |
0.00 |
0.00 |
|
Gains on sale of
investments |
0.00 |
1,700,803.00 |
|
Foreign exchange
gains |
1,486,526.00 |
0.00 |
|
Revaluation gain
on financial assets |
0.00 |
696,678.00 |
|
Miscellaneous
income |
1,082,853.00 |
1,599,190.00 |
|
Non-operating
revenues and gains |
2,796,272.00 |
4,179,338.00 |
|
Non-Operating
Expenses |
|
|
|
Interest expense |
4,325,879.00 |
3,648,019.00 |
|
Losses from
long-term equity investments under the equity method |
8,346,615.00 |
5,241,200.00 |
|
Investment loss |
8,346,615.00 |
5,241,200.00 |
|
Foreign exchange
losses |
0.00 |
141,321.00 |
|
Loss on depreciation
and valuation loss form idle assets |
351,758.00 |
706,841.00 |
|
Impairment loss
on assets |
915,771.00 |
0.00 |
|
Revaluation loss
on financial assets |
1,055,221.00 |
0.00 |
|
Miscellaneous
disbursements |
10,815,036.00 |
6,126,565.00 |
|
Non-operating
expenses and losses |
25,810,280.00 |
15,863,946.00 |
|
Income from
continuing operations before income tax |
-55,101,325.00 |
-66,171,081.00 |
|
Income tax
expense (benefit) |
-486,621.00 |
-4,907,267.00 |
|
Income from continuing
operations |
-54,614,704.00 |
-61,263,814.00 |
|
Net income
(loss) |
-54,614,704.00 (USD -1,851,438,466.00) |
-61,263,814.00 (USD -2,076,843,295.00) |
|
Primary Earnings
per Share |
|
|
|
Primary earnings
per share |
-6.19 |
-6.94 |
|
Diluted earnings
per share |
|
|
|
Diluted earnings
per share |
-6.19 |
-6.94 |
(As of 2013.08, 1 NTD =
0.0339 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-54,614,704.00 |
-61,263,814.00 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
57,722,265.00 |
72,432,753.00 |
|
Amortization Expense |
1,155,578.00 |
1,196,024.00 |
|
Amortization of Discounts (Premiums) on Bonds
Payable |
674,092.00 |
561,844.00 |
|
Difference Between Net Pension
Cost and Plan Contribution |
-48,407.00 |
-57,104.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
8,346,615.00 |
5,241,200.00 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
478,362.00 |
602,427.00 |
|
Loss (Gain) on Disposal of Property, Plan and
Equipment |
3,592.00 |
4,436.00 |
|
Loss (Gain) on Disposal of Idle
Assets |
152,049.00 |
-1,665.00 |
|
Loss (Gain) on Disposal of Investments |
0.00 |
-1,700,803.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
631,870.00 |
199,631.00 |
|
Impairment Losses on Financial Asset |
915,771.00 |
0.00 |
|
Unrealized Exchange Loss (Gain) |
-2,932,596.00 |
929,297.00 |
|
Loss (Gain) on Bond Redemption |
0.00 |
-686,972.00 |
|
Other Adjustments to Reconcile Net Income |
0.00 |
0.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Accounts Receivable |
7,369,831.00 |
4,844,422.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
-1,395,440.00 |
2,331,191.00 |
|
Decrease (Increase) in Inventories |
2,995,800.00 |
-1,526,697.00 |
|
Decrease (Increase) in Other Prepayments |
492,794.00 |
-6,216,334.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-486,621.00 |
-4,875,809.00 |
|
Increase (Decrease) in Accounts Payable |
6,421,474.00 |
-8,828,305.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
-7,031,043.00 |
358,416.00 |
|
Increase (Decrease) in Other Payables |
7,166,806.00 |
4,902,002.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
28,018,088.00 |
8,446,140.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Investments Accounted for by
Equity Method |
-7,343,915.00 |
-11,252,404.00 |
|
Proceeds from Disposal of Investments Accounted
for by Equity Method |
0.00 |
2,208,824.00 |
|
Proceeds from Capital Reduction of Investments
Accounted for under Equity Method |
2,940,000.00 |
2,585,763.00 |
|
Purchase of Property, Plant and Equipment |
-18,976,454.00 |
-30,946,330.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
165.00 |
191,926.00 |
|
Proceeds from Disposal of Rental Assets and Idle
Assets |
162,523.00 |
117,307.00 |
|
Decrease (Increase) in Refundable Deposits |
4,105.00 |
-126,171.00 |
|
Increase in Deferred Charges |
-260,242.00 |
-475,649.00 |
|
Decrease (Increase) in Restricted Assets |
1,681.00 |
18,747.00 |
|
Purchase of Intangible Assets |
-436,553.00 |
-1,944,360.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-23,908,690.00 |
-39,622,347.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-900,000.00 |
4,400,000.00 |
|
Proceeds from Issuance of Bonds |
0.00 |
0.00 |
|
Repayments of Bonds |
-3,500,000.00 |
-6,000,000.00 |
|
Redemption and Repurchase of Convertible Bonds |
0.00 |
-2,324,610.00 |
|
Proceeds from Long-term Debt |
33,000,000.00 |
65,000,000.00 |
|
Repayment of Long-term Debt |
-39,177,628.00 |
-24,287,000.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-120.00 |
760,134.00 |
|
Cash Dividends Paid |
0.00 |
-3,530,818.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-10,577,748.00 |
34,017,706.00 |
|
Effect of Exchange Rate Changes |
-211,981.00 |
-476,496.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-6,680,331.00 |
2,365,003.00 |
|
Cash and Cash Equivalents, Beginning of year |
54,825,447.00 |
52,460,444.00 |
|
Cash and Cash Equivalents, End of year |
48,145,116.00 |
54,825,447.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
3,887,427.00 |
3,386,256.00 |
|
Capitalized Interest |
-206,256.00 |
-409,551.00 |
|
Interest Paid- Excluding Capitalized Interest |
3,681,171.00 |
2,976,705.00 |
|
Income Tax Paid |
0.00 |
314,281.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
38,254,729.00 |
42,677,629.00 |
|
Investing Activities Affecting Both Cash and
Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
|
|
|
Increase in Property, Plant and Equipment |
16,118,868.00 |
26,629,746.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
2,857,586.00 |
4,316,584.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
18,976,454.00 |
30,946,330.00 |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
068772 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
580204 |
|
Date of Registration: |
2000-12-20 |
|
Status: |
Pay Off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
069681 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09005070170 |
|
Date of Registration: |
2001-3-15 |
|
Status: |
Pay Off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
070195 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09005088900 |
|
Date of Registration: |
2001-5-1 |
|
Date of Alteration: |
2007-5-17 |
|
Status: |
Pay Off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
072936 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09105076750 |
|
Date of Registration: |
2002-4-23 |
|
Date of Alteration: |
2007-5-16 |
|
Status: |
Pay Off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
073882 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09105123780 |
|
Date of Registration: |
2002-9-2 |
|
Status: |
Pay Off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
076657 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09205140580 |
|
Date of Registration: |
2003-7-24 |
|
Status: |
Pay Off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
076675 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09205140970 |
|
Date of Registration: |
2003-7-25 |
|
Status: |
Pay Off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
078230 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305060830 |
|
Date of Registration: |
2004-1-5 |
|
Date of Alteration: |
2007-5-31 |
|
Status: |
Pay Off |
|
9 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
078710 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305079240 |
|
Date of Registration: |
2004-2-25 |
|
Status: |
Pay Off |
|
10 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
078784 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305082910 |
|
Date of Registration: |
2004-3-3 |
|
Status: |
Pay Off |
|
11 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
079815 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305125640 |
|
Date of Registration: |
2004-6-1 |
|
Status: |
Pay Off |
|
12 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
081296 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305181230 |
|
Date of Registration: |
2004-10-13 |
|
Status: |
Pay Off |
|
13 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
081699 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09305196160 |
|
Date of Registration: |
2004-11-22 |
|
Status: |
Pay Off |
|
14 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
081902 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09304991100 |
|
Date of Registration: |
2004-12-9 |
|
Status: |
Pay Off |
|
15 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082252 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09405062870 |
|
Date of Registration: |
2005-1-10 |
|
Status: |
Pay Off |
|
16 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
083877 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09405121540 |
|
Date of Registration: |
2005-6-15 |
|
Status: |
Pay Off |
|
17 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
086444 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09505078190 |
|
Date of Registration: |
2006-2-23 |
|
Date of Alteration: |
2007-5-17 |
|
Status: |
Pay Off |
|
18 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087286 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09505111590 |
|
Date of Registration: |
2006-5-15 |
|
Date of Alteration: |
2007-5-17 |
|
Status: |
Pay Off |
|
19 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087818 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09505133180 |
|
Date of Registration: |
2006-7-5 |
|
Date of Alteration: |
2007-5-16 |
|
20 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
088030 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09505140480 |
|
Date of Registration: |
2006-7-25 |
|
Date of Alteration: |
2007-5-16 |
|
Status: |
Pay Off |
|
21 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
088207 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09505147780 |
|
Date of Registration: |
2006-8-10 |
|
Date of Alteration: |
2007-5-16 |
|
22 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
095748 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09730405670 |
|
Date of Registration: |
2008-9-30 |
|
23 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
095749 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09730405370 |
|
Date of Registration: |
2008-9-30 |
|
24 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
098945 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09830514890 |
|
Date of Registration: |
2009-12-28 |
|
25 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
098946 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09830514900 |
|
Date of Registration: |
2009-12-28 |
|
26 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
098947 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09830514880 |
|
Date of Registration: |
2009-12-28 |
|
27 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
098949 |
|
Debtor Name: |
Au Optronics Corp. |
|
Document Number: |
09830514870 |
|
Date of Registration: |
2009-12-28 |
Lawsuit
|
Trial Number: |
2012,Jianshang,102 |
|
Date of Trial: |
2013-5-28 |
|
Reason: |
Payment for debts |
|
2 |
|
|
Trial Number: |
2013,Bu,293 |
|
Date of Trial: |
2013-3-28 |
|
Reason: |
Performance of contract |
|
3 |
|
|
Trial Number: |
2013,Zhongsu,39 |
|
Date of Trial: |
2013-3-19 |
|
Reason: |
Payment for goods |
|
4 |
|
|
Trial Number: |
2012,Zhujian,304 |
|
Date of Trial: |
2012-9-18 |
|
Reason: |
Pay off debts |
|
5 |
|
|
Trial Number: |
2012,Su,219 |
|
Date of Trial: |
2012-8-17 |
|
Reason: |
Performance of contract |
|
6 |
|
|
Trial Number: |
2007,Zhujianfumin53 |
|
Date of Trial: |
2008-1-29 |
|
Reason: |
Apply for compensation for damage |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.66 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.87.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.