| Commission File Number 001-16125 | |
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Advanced
Semiconductor Engineering, Inc.
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(
Exact name of Registrant as specified in its charter)
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26
Chin Third Road
Nantze
Export Processing Zone
Kaoshiung,
Taiwan
Republic
of China
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(Address
of principal executive offices)
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Form 20-F
X
Form
40-F
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Yes
No
X
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ADVANCED
SEMICONDUCTOR ENGINEERING, INC.
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Date: July
6, 2010
By:
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/s/
Joseph Tung
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Name:
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Joseph
Tung
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Title:
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Chief
Financial Officer
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1.
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Time:
Monday, June 14, 2010 at 10 a.m.
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2.
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Place:
Zhuang Jing Auditorium, 600 Jiachang Rd., Nantz Processing Export Zone,
Nantz District, Kaohsiung City
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3.
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Present : Total shares
represented by shareholders and proxy present 4,582,291,392 shares is
84.96% of total outstanding shares of ASE 5,393,436,318 shares (excluding
the shareholders who had no voting right stipulated in Company
Law) .
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4.
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Chairperson's
Remarks：(To be
omitted)
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5.
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Status
Reports
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1.
2009 Business Report. (see Attachment
I)
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2.
Report by supervisors on review of the 2009 financial statements. (see Attachment II)
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3.
Report on total amount for endorsement, guarantee and amount of loans to
third parties.
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4.
Report on the Company’s indirect investment on Mainland China by the
Company.
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6.
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Matters
for Ratification
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Proposal:
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Please
ratify the Company's report on 2009 final financial
statements.
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Explanation:
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1. The
Company's 2009 financial statements have been audited and attested by
Deloitte & Touche and reviewed by the Supervisors.
2. Please
ratify the financial statements (see Attachment III to this Agenda Manual
for details) and the 2009 Business Report (see Attachment I to this Agenda
Manual for details).
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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Please
ratify the Company’s 2009 proposal for surplus distribution.
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Explanation:
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The
Board of Directors has drafted the Company’s 2009 proposal for surplus
distribution as shown in the table below in accordance with The Company
Act and the Company’s Articles of Incorporation for your
ratification.
Advanced
Semiconductor Engineering, Inc.
2009
Surplus Distribution Proposal
Unit:
NT$
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Items
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Amount
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Prior
year retained earnings
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2,953,801,375
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Add:
Current year gross profit
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6,744,545,355
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Add:
Adjustments to Long-term Investments at Equity
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27,143
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Subtract:
Provision for 10% statutory surplus
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674,454,536
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Current
year earnings to be distributed
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9,023,919,337
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Items
for distribution:
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Dividends
(note)
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6,593,964,945
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Current
year retained earnings
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2,429,954,392
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Notes:
NT$120,000,000
to be distributed for Director and Supervisor remuneration
NT$607,009,000
to be distributed for employee bonuses, all in cash
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President:
Jason C.S.
Chang Manager:
Richard
H.P. Chang Accountant
Manager: Joseph Tung
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Note:1
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The
shareholders’ bonus distributed this time totaled NT$ 6,593,964,945, NT$
1.2 per share, of which NT$ 1,978,189,485 was distributed in cash, cash
dividend of NT$0.36 per share and the remaining NT$
4,615,775,460 was distributed in stocks, i.e., 84 shares of stock dividend
as gratuitous suplus-turned capital increase for cash 1,000 shares held.
Additionally, the Company plans to implement a capital increase out of
capital reserves of NT$ 879,195,320 i.e., 16 shares of stock dividend as
capital reserve-turn capital increase for each 1,000 shares
held, and the total amount of dividends for this shareholder distribution
is NT$ 1.36 per share, which includes a cash dividend of NT$ 0.36 per
share and a stock dividend of NT$ 1 per
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share.
With respect to the above-mentioned cash dividend rate, the calculation
was based on the 5,494,970,794 shares registered in the roster of
shareholders as of March 17, 2010. Later, if the Company’s ECB holders
exercise the right of conversion, or new shares issued to employees
against Employee Stock Option warrant, or new shares issued by the Company
for a cash capital increase, or buyback of the Company’s stocks, or
transfer or cancellation of the Company’s treasury stocks, which affect
the cash distribution rate of the shareholders’ bonus, requiring
adjustment, the management will request the shareholders’ meeting to
authorize the board of directors to handle the situation plenipotentiarily
and make the adjustment accordingly.
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Note:2
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In
order to meet the implementation to Income Tax Integration, earnings of
the most recent year will be priority in distributed this
time.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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Please
consider a share issue by converting earnings and capital reserve into
equity stock.
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Explanation:
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1. In
conjunction with the plant expansion plan, the Company contemplates to use
the shareholders’ bonus of NT$4,615,775,460 due for distribution in 2009
for capital increase of 461,577,546 shares at NT$10 par
value.
2. It
is additionally planned to allocate NT$ 879,195,320 from capital reserves
for capitalization. The interest payable arising from convertible bonds,
NT$ 656,826,623, will take precedence prior to stock premium, NT$
222.368,697, in the aforementioned capitalization of capital
reserves.
3. New
shares allocation method: In the previous items 1 and 2, a capital
increase of a total of NT$ 5,494,970,780 is planned, with an issuance of
549,497,078 new shares, calculated according to the 5,494,970,794 shares registered in the Company’s roster of shareholders as of March 17, 2010, with
16 shares of stock dividend as gratuitous surplus-turned capital increase
and 84 shares of stock dividend as capital reserve-turned capital increase for
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a
total of 100 shares for each 1,000 shares
held by shareholders. Later, if the
Company’s ECB holders exercise the right of conversion, or new shares
issued to employees against Employee Stock Option warrant, or new shares
issued by the Company for a cash capital increase, or buyback of the
Company’s stocks, or transfer or cancellation of the Company’s treasury
stocks, which affect the cash distribution rate and stock distribution
rate of the shareholders’ bonus, requiring adjustment, the management will
request the shareholders’ meeting to authorize the board of directors to
handle the situation plenipotentiarily and make the adjustment
accordingly. Shareholders are advised to consolidate the odd share of less
than one share to make up one share by their own means for registration
within 5 days as of the base date for distribution of new shares. Where
the insufficient and inadequate part will be paid in cash by the par
value. The board of directors has authorized the chairman to assign a
specific person to purchase odd shares of less than one share. In
addition, distribution of new shares for employee bonus-turned capital
increase, the Company’s by laws and the Company’s Measures Concerning
Distribution of Employee Bonus shall govern.
4. The
rights and obligations of new shares shall be equal to the older
ones.
5. Ex-rights
base date: It shall be set separately, pending resolution passed by the
shareholders’ meeting and approval by the competent regulatory
authority.
6. The
plant expansion plan by the capital increase of this time shall be
completed by December 2011. Implementation of such plan is expected to
enhance he Company’s competitiveness, elevate the benefit of operation
efficiency and is passively beneficial to the shareholders’ equity. If the
competent regulatory authority deems it necessary to change any of
the.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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To
meet the requirements for larger production capacity in future the Company
needs to enrich its operation capital in order to repay bank loans or the
needs for other long-term development use, thereby enabling the
fund-raising channels more diversified and flexible. As such, the
shareholders’ meeting is requested to
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authorize
the board of directors to opt at the optimal time,
depending on the market situation and the status of capital needs of the
Company and in accordance with existing laws and regulations, for capital
increase in cash by issuing common shares or joining the issuance of GDR
(Global depository receipts) or domestic capital increase in cash or
issuance of domestic or ECB to raise fund. The case is being presented for
discussions.
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Explanation:
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1.
The principles to authorize the board of directors to issue new common
shares and GDR for capital increase in cash shall be as
follows:
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1.1
Issuance of common shares in the form GDR for capital increase in cash
shall be limited to 500,000,000 shares only. The shareholders’ meeting
shall authorize the board of directors and the chairman of the board to
make the adjustment by the market condition and issue the authorized GDR’s
all at once.
1.2
In conducting issuance of new shares in the form of GDR for capital
increase in cash, the issuance price shall be by the rules set forth in
the Self-discipline Rules Concerning Subscription and Issuance of
Securities by the Issuing Company Member Underwriters Have Assisted in the
Process, i.e., the issuance price shall not be lower than the closing
price of the Company’s common stock at the domestic open market. Take the
simple arithmetic mean of the closing price of the common share on the
first, third and fifth day prior to the price-setting day, minus 90% of
the average stock price after gratuitous ex-rights and ex-interest, then
comes the price for the new issue. However, the price-setting method may
be duly adjusted if related domestic laws and regulations are updated.
Since the stock price at home has often experience drastic volatility in
the short run, the chairman of the board is authorized to set the actual
issuance price within the above-mentioned price range, after having
consulted with underwriter taking into consideration the international
general practice, international capital market, domestic market price, the
overall subscription status so as to make the offering price attractive to
overseas investors. Consequently, the price-setting method should be
reasonable. Additionally, the deciding method for the issuance price of
GDR is based on the fair trading price of common shares at the domestic
open market whereas the original stockholder may purchase the common
shares at domestic stock exchange at the price close to the issuance price
of the GDR, without bearing
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the
exchange rate risk and liquidity risk. Moreover, the tranche of issuance
of new shares and GRD for capital increase in cash do not affect much of
the shareholders’ equity as the highest dilution ratio in relation to the
original shareholders’ equity stands only at 9.10%.
1.3
10% of common shares issued for capital increase in cash shall, according
to Article 267 of The Company Act, be reserved for subscription by company
employees and the remaining 90% will be fully appropriated for open
issuance as the securities for GDR as the original shareholders have
waived their rights for subscription in accordance with Article 28-1 of
the Securities Trading Act. For the part that employees have
not subscribed, the chairman of the board is authorized to contact
specific party for purchase or, depending on the market requirements, list
as the original securities for participation in the issuance of
GDR.
1.4
The proceeds for capital increase in cash from subscription to the GDR
shall be used for overseas procurement of materials, enrichment of
operation capital, repayment of bank loans, purchase of machinery and
equipment, and/or spin-off in one or multiple use and is expected to
complete the implementation within 2 years after the fund is fully raised.
Implementation of the said plan is expected to intensify the Company’s
competitiveness, enhance the benefit of the operation efficiency,
producing positive benefit to shareholders.
1.5
The board of directors is authorized to set the major contents of the
capital increase in cash plan, which includes issuance price, number of
shares issued, issuance conditions, source of capital, plan items, amount
of fund raised, estimated progress and estimated probable effect generated
as well as the issuance plan of participation in the issuance of
GDR.
1.6
Once the plan for capital increase in cash is approve d by the competent
regulatory authority, the board of directors will be authorized to proceed
with matters related to issuance of new shares.
1.7
If the agreement on issuance time, issuance condition, issuance volume,
issuance amount of capital increase in cash and participation in issuance
of GDR as well as other matters related to capital increase in cash and
participation in issuance of GDR needs update in future due to the
decision by
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the
competent regulatory authority and on the basis of operation evaluation,
or the needs of objective environment, the board of directors shall be
authorized to handle at its full discretion.
1.8
In conjunction with the issuance method of common shares for capital
increase in cash and participation in GDR issuance, the chairman of the
board or his designated representative is authorized to represent the
Company in signing all documents related to the participation in the
issuance of GDR as well as handling all needed matters related to the
participation in the issuance of GDR.
1.9
For matters that are not covered herein, the board of directors may, in
accordance with law, proceed at its discretion.
2.
The principles to authorize the board of directors to conduct capital
increase in cash at home shall be as follows:
2.1
Number of new shares issued for capital increase in cash shall not be in
excess of 500,000,000 shares.
2.2
The par value of the new shares for capital increase in cash shall be
NT$10 each. Actual issuance price shall be by related rules set forth in
the Self-discipline Rules Concerning Subscription and Issuance of
Securities by the Issuing Company Member Underwriters Have Assisted in the
Process and the market condition at the time of issuance. The chairman of
she board and the underwriter may reach an agreement on the issuance in
consideration of all the conditions mentioned above, which shall be
subject to the approval by the competent regulatory authority before the
issuance.
2.3
The issuance method of new shares for the capital increase in cash shall
be by price enquiry and selected purchase. With the exception of 10%-15%
reserved for employees as required by Article 267 of The Company Act, the
rest will be offered for public issuance as all original shareholders have
waived their rights to subscribe according to Article 28-1 of the
Securities Trading Act. In addition, if the Company’s employees have not
subscribed sufficiently and adequately or waived the right to subscribe,
the chairman may contact specific party for purchase.
2.4
The proceeds for capital increase in cash from subscription to the GDR
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shall
be used for overseas procurement of materials, enrichment of operation
capital, repayment of bank loans, purchase of machinery and equipment,
and/or spin-off in one or multiple use and is expected to complete the
implementation within 2 years after the fund is fully raised.
Implementation of the said plan is expected to intensify the Company’s
competitiveness, enhance the benefit of the operation efficiency,
producing positive benefit to shareholders.
2.5
The board of directors is authorized to set the major contents of the
capital increase in cash plan, which includes issuance price, number of
shares issued, issuance conditions, plan items, amount of fund raised,
estimated progress and estimated probable effect generated as well as the
issuance plan of participation in the issuance of GDR.
2.6
Once the plan for capital increase in cash is approve d by the competent
regulatory authority, the board of directors will be authorized to set the
base date for capital increase.
2.7
With respect to the manner of issuance as mentioned in Section 2.3 above,
the board of directors is authorized to make the amendment at its full
discretion if amendment becomes necessary due to update of laws or
regulations or the objective environment dictates the
amendment.
2.8
For matters that are not covered herein, the board of directors may, in
accordance with law, proceed at its discretion.
3.
The principles to authorize the board of directors to conduct capital
increase in cash by issuance of convertible corporate bond at home and ECB
overseas:
3.1
Estimated number of shares for conversion: Not to exceed the number of
shares registered in the application for update of the Company’s
profit-seeing registration card.
3.2
Time of issuance: It depends on the capital needs by the Company and the
market condition.
3.3
Interest rate: In principle, it shall be by the market interest rate then
prevailing in the marketplace and reasonable, if
possible.
3.4
Issuance duration: It depends on the capital needs by the
Company.
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3.5
Issuance condition: Subject to negotiation with the lead underwriter and
existing laws and regulations.
3.6
The proceeds from subscriptions to the domestic convertible corporate bond
and ECB overseas shall be used for overseas procurement of materials,
enrichment of operation capital, repayment of bank loans, purchase of
machinery and equipment, and/or spin-off in one or multiple use and is
expected to complete the implementation within 2 years after the fund is
fully raised. Implementation of the said plan is expected to intensify the
Company’s competitiveness, enhance the benefit of the operation
efficiency, producing positive benefit to
shareholders.
3.7
The board of directors is authorized to set the issuance measures, amount
of fund raised, plan items, estimated progress as well as estimated
probable effect generated.
3.8
In conjunction with the issuance of the convertible corporate bond the
chairman of the board or his designated representative is authorized to
represent the Company in signing all documents related to the issuance of
the convertible corporate bond as well as handling all needed matters
related to the issuance of the convertible corporate
bond.
3.9
For matters that are not covered herein, the board of directors may, in
accordance with law, proceed at its
discretion.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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Please
discuss the revised version of the Company’s Handling Procedure for Loans
to Third Parties.
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Explanation:
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1. In
order to meet the revisions to "Guidelines on Public Companies Lending
Money and Providing Guarantees" announced on March 19, 2010 by Financial
Supervisory Commission, the board of directors passed a resolution
revising the Company's "Procedure for Lending Funds to Third Parties" on
March 26, 2010.
2. For
details of the table of comparison of the revised provisions of the
Procedure for Lending Funds to Third Parties, please refer to Attachment
VI
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2. For
details of the table of comparison of the revised provisions of the
Procedure for Lending Funds to Third Parties, please refer to Attachment
VI to this Agenda Manual. Your consent is
solicited.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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Please
discuss the revised version of the Company’s Handling Procedure for
Endorsements and Guarantees.
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Explanation:
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1.
In order to meet the revisions to "Guidelines on Public Companies Lending
Money and Providing Guarantees" announced on March 19, 2010 by Financial
Supervisory Commission, the board of directors passed a resolution
revising the Company's "Handling Procedure for Endorsements and
Guarantees" on March 26, 2010.
2.
For details of the table of comparison of the revised provisions of the
Handling Procedure for Endorsements and Guarantees, please refer to
Attachment V to this Agenda Manual. Your consent is
solicited.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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Proposal:
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Please
discuss the revised version of the Company’s Articles of
Incorporation.
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Explanation:
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1. In
order to meet the regulatory authority's policy of promoting issuance of
paperless securities and to facilitate the Company's calling of board
meetings, parts of the provisions of the Company’s Articles of
Incorporation are suggested for revision.
2. For
details of the table of comparison of the revised provisions of the
Company’s Articles of Incorporation., please refer to Attachment VI to
this Agenda Manual. Your consent is solicited.
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Resolution:
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The
above proposals be and hereby were approved as
proposed.
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1.
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Implementation
results of business plan for 2009
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2.
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Budget
performance
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3.
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Analysis
of financial accounts and
profitability
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4.
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R&D
overview
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1.
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Operating
policy
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2.
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Projects
sales volume and references
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Item
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Project
Sales
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Package
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Approx.
7.2 billion chips
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Test
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Approx.
900 million chips
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3.
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Important
production and sales policies
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| Advanced Semiconductor Engineering, Inc. | ||
| Supervisors: |
YY
Tseng
John
Ho
Sam
Liu
TS
Chen
Jerry
Chang
April
20, 2010
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Advanced
Semiconductor Engineering,
Inc.
Financial
Statements for the
Independent
Auditors’ Report
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ASSETS
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Amount
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%
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Amount
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%
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||||||||||||
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Cash
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$ | 4,079,270 | 3 | $ | 3,133,212 | 3 | ||||||||||
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Financial
assets at fair value through profit or loss - current
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15,747 | - | - | - | ||||||||||||
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Bond
investments with no active market - current
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- | - | 450,000 | - | ||||||||||||
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Accounts
receivable, net
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9,331,438 | 7 | 4,842,944 | 4 | ||||||||||||
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Receivable
for income tax refund
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99,330 | - | 99,330 | - | ||||||||||||
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Other
receivables
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423,015 | - | 287,072 | - | ||||||||||||
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Other
receivables from related parties
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613,854 | - | 173,510 | - | ||||||||||||
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Inventories
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2,086,376 | 2 | 1,519,636 | 1 | ||||||||||||
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Deferred
income tax assets - current
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700,357 | 1 | 700,690 | 1 | ||||||||||||
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Other
current assets
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242,226 | - | 219,725 | - | ||||||||||||
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Total
current assets
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17,591,613 | 13 | 11,426,119 | 9 | ||||||||||||
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LONG-TERM
INVESTMENTS
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||||||||||||||||
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Financial
assets carried at cost - noncurrent
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467,468 | - | 362,554 | - | ||||||||||||
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Equity
method investments
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79,873,491 | 60 | 77,144,106 | 62 | ||||||||||||
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Total
long-term investments
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80,340,959 | 60 | 77,506,660 | 62 | ||||||||||||
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PROPERTY,
PLANT AND EQUIPMENT
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||||||||||||||||
|
Cost
|
||||||||||||||||
|
Land
|
1,558,201 | 1 | 1,558,201 | 1 | ||||||||||||
|
Buildings
and improvements
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18,278,699 | 13 | 17,502,360 | 14 | ||||||||||||
|
Machinery
and equipment
|
54,595,445 | 41 | 51,866,609 | 42 | ||||||||||||
|
Transportation
equipment
|
66,613 | - | 74,665 | - | ||||||||||||
|
Furniture
and fixtures
|
968,773 | 1 | 937,561 | 1 | ||||||||||||
|
Leased
assets
|
39,825 | - | 67,830 | - | ||||||||||||
|
Total
cost
|
75,507,556 | 56 | 72,007,226 | 58 | ||||||||||||
|
Accumulated
depreciation
|
48,492,479 | 36 | 43,894,884 | 35 | ||||||||||||
| 27,015,077 | 20 | 28,112,342 | 23 | |||||||||||||
|
Construction
in progress
|
128,315 | - | 514,507 | - | ||||||||||||
|
Machinery
in transit and prepayments
|
3,239,679 | 3 | 669,875 | 1 | ||||||||||||
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Total
property, plant and equipment
|
30,383,071 | 23 | 29,296,724 | 24 | ||||||||||||
|
INTANGIBLE
ASSETS
|
||||||||||||||||
|
Patents
|
62,194 | - | 81,722 | - | ||||||||||||
|
Goodwill
|
957,167 | 1 | 957,167 | 1 | ||||||||||||
|
Deferred
pension cost
|
50,393 | - | 56,762 | - | ||||||||||||
|
Total
intangible assets
|
1,069,754 | 1 | 1,095,651 | 1 | ||||||||||||
|
OTHER
ASSETS
|
||||||||||||||||
|
Assets
leased to others
|
2,439,452 | 2 | 2,766,268 | 2 | ||||||||||||
|
Idle
assets
|
86,062 | - | 4,744 | - | ||||||||||||
|
Guarantee
deposits - noncurrent
|
12,193 | - | 11,060 | - | ||||||||||||
|
Deferred
charges
|
641,094 | - | 764,178 | 1 | ||||||||||||
|
Deferred
income tax assets - noncurrent
|
694,669 | 1 | 975,695 | 1 | ||||||||||||
|
Restricted
assets
|
84,447 | - | 84,147 | - | ||||||||||||
|
Total
other assets
|
3,957,917 | 3 | 4,606,092 | 4 | ||||||||||||
| TOTAL | $ | 133,343,314 | 100 | $ | 123.931,246 | 100 | ||||||||||
|
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
Amount
|
%
|
Amount
|
%
|
||||||||||||
|
Financial
liabilities at fair value through profit or loss - current
|
$ | 61,195 | - | $ | 82,238 | - | ||||||||||
|
Hedging
derivative liabilities - current
|
122,495 | - | - | - | ||||||||||||
|
Accounts
payable
|
5,253,226 | 4 | 2,766,104 | 2 | ||||||||||||
|
Accounts
payable to related parties
|
1,061,115 | 1 | 798,621 | 1 | ||||||||||||
|
Income
tax payable
|
808,739 | 1 | 642,744 | 1 | ||||||||||||
|
Accrued
expenses
|
2,658,620 | 2 | 2,401,079 | 2 | ||||||||||||
|
Other
payables to related parties
|
5,875,663 | 4 | 861,740 | 1 | ||||||||||||
|
Payable
for properties purchased
|
1,755,397 | 1 | 554,618 | - | ||||||||||||
|
Other
payables
|
207,070 | - | 253,712 | - | ||||||||||||
|
Current
portion of capital lease obligations
|
9,048 | - | 18,320 | - | ||||||||||||
|
Other
current liabilities
|
292,383 | - | 170,991 | - | ||||||||||||
|
Total
current liabilities
|
18,104,951 | 13 | 8,550,167 | 7 | ||||||||||||
|
LONG-TERM
LIABILITIES
|
||||||||||||||||
|
Hedging
derivative liabilities - noncurrent
|
311,778 | - | 391,695 | - | ||||||||||||
|
Long-term
bonds payable
|
- | - | 1,375,000 | 1 | ||||||||||||
|
Long-term
bank loans
|
42,235,920 | 32 | 42,929,640 | 35 | ||||||||||||
|
Capital
lease obligations
|
1,749 | - | 10,890 | - | ||||||||||||
|
Total
long-term liabilities
|
42,549,447 | 32 | 44,707,225 | 36 | ||||||||||||
|
OTHER
LIABILITIES
|
||||||||||||||||
|
Accrued
pension cost
|
1,072,012 | 1 | 1,001,302 | 1 | ||||||||||||
|
Guarantee
deposits received
|
878 | - | 558 | - | ||||||||||||
|
Total
other liabilities
|
1,072,890 | 1 | 1,001,860 | 1 | ||||||||||||
|
Total
liabilities
|
61,727,288 | 46 | 54,259,252 | 44 | ||||||||||||
|
CAPITAL
STOCK - NT$10 PAR VALUE
|
||||||||||||||||
|
Authorized
- 8,000,000 thousand shares
|
||||||||||||||||
|
Issued
- 5,479,878 thousand shares in 2009 and 5,690,428 thousand shares
in
|
||||||||||||||||
|
2008
|
54,798,783 | 41 | 56,904,278 | 46 | ||||||||||||
|
Capital
received in advance
|
135,205 | - | 3,387 | - | ||||||||||||
|
Total
capital stock
|
54,933,988 | 41 | 56,907,665 | 46 | ||||||||||||
|
CAPITAL
SURPLUS
|
||||||||||||||||
|
Capital
in excess of par value
|
1,311,421 | 1 | 1,329,634 | 1 | ||||||||||||
|
Treasury
stock
|
827,285 | 1 | 823,813 | 1 | ||||||||||||
|
Long-term
investment
|
3,538,222 | 3 | 3,536,854 | 3 | ||||||||||||
|
Accrued
interest on convertible bonds
|
656,827 | - | 682,986 | - | ||||||||||||
|
Total
capital surplus
|
6,333,755 | 5 | 6,373,287 | 5 | ||||||||||||
|
RETAINED
EARNINGS
|
13,229,409 | 10 | 9,221,404 | 7 | ||||||||||||
|
OTHER
EQUITY ADJUSTMENTS
|
||||||||||||||||
|
Unrealized
gain (loss) on financial instruments
|
25,498 | - | (439,438 | ) | - | |||||||||||
|
Cumulative
translation adjustments
|
3,276,508 | 2 | 4,873,957 | 4 | ||||||||||||
|
Unrecognized
pension cost
|
(248,641 | ) | - | (230,401 | ) | - | ||||||||||
|
Treasury
stock - 322,532 thousand shares in 2009 and 431,232 thousand
shares
|
||||||||||||||||
|
in
2008
|
(5,934,491 | ) | (4 | ) | (7,034,480 | ) | (6 | ) | ||||||||
|
Other
equity adjustments, net
|
(2,881,126 | ) | (2 | ) | (2,830,362 | ) | (2 | ) | ||||||||
|
Total
shareholders' equity
|
71,616,026 | 54 | 69,671,994 | 56 | ||||||||||||
| TOTAL | $ | 133,343,314 | 100 | $ | 123,931,246 | 100 | ||||||||||
|
2009
|
2008
|
|||||||||||||||
|
Amount
|
%
|
Amount
|
%
|
|||||||||||||
|
REVENUES
|
$ | 46,805,576 | 101 | $ | 49,073,365 | 101 | ||||||||||
|
LESS: SALES
DISCOUNTS AND ALLOWANCES
|
671,262 | 1 | 622,348 | 1 | ||||||||||||
|
NET
REVENUES
|
46,134,314 | 100 | 48,451,017 | 100 | ||||||||||||
|
COST
OF REVENUES
|
35,724,319 | 77 | 37,912,254 | 78 | ||||||||||||
|
GROSS
PROFIT
|
10,409,995 | 23 | 10,538,763 | 22 | ||||||||||||
|
OPERATING
EXPENSES
|
||||||||||||||||
|
Research
and development
|
2,036,633 | 4 | 1,796,768 | 4 | ||||||||||||
|
Selling
|
783,222 | 2 | 716,055 | 2 | ||||||||||||
|
General
and administrative
|
1,941,215 | 4 | 2,538,292 | 5 | ||||||||||||
|
Total
operating expenses
|
4,761,070 | 10 | 5,051,115 | 11 | ||||||||||||
|
INCOME
FROM OPERATIONS
|
5,648,925 | 13 | 5,487,648 | 11 | ||||||||||||
|
NON-OPERATING
INCOME AND GAINS
|
||||||||||||||||
|
Interest
income
|
19,363 | - | 40,033 | - | ||||||||||||
|
Gain
on valuation of financial assets, net
|
808,585 | 2 | 753,390 | 1 | ||||||||||||
|
Equity
in earnings of equity method investments
|
2,762,236 | 6 | 2,409,736 | 5 | ||||||||||||
|
Other
|
632,494 | 1 | 856,196 | 2 | ||||||||||||
|
Total
non-operating income and gains
|
4,222,678 | 9 | 4,059,355 | 8 | ||||||||||||
|
NON-OPERATING
EXPENSES AND LOSSES
|
||||||||||||||||
|
Interest
expense
|
1,070,718 | 3 | 852,027 | 2 | ||||||||||||
|
Loss
on valuation of financial liabilities, net
|
572,952 | 1 | 513,556 | 1 | ||||||||||||
|
Foreign
exchange loss, net
|
3,631 | - | 159,625 | - | ||||||||||||
|
Other
|
556,611 | 1 | 680,292 | 1 | ||||||||||||
|
Total
non-operating expenses and losses
|
2,203,912 | 5 | 2,205,500 | 4 | ||||||||||||
|
INCOME
BEFORE INCOME TAX
|
7,667,691 | 17 | 7,341,503 | 15 | ||||||||||||
|
INCOME
TAX EXPENSE
|
923,145 | 2 | 1,181,451 | 2 | ||||||||||||
| NET INCOME | $ | 6,744,546 | 15 | $ | 6,160,052 | 13 | ||||||||||
|
2009
|
2008
|
|||||||||||||||
|
Before
Income Tax
|
After
Income Tax
|
Before
Income Tax
|
After
Income Tax
|
|||||||||||||
| EARNINGS PER SHARE (EPS) | ||||||||||||||||
|
Basic
EPS
|
$ | 1.49 | $ | 1.31 | $ | 1.36 | $ | 1.14 | ||||||||
|
Diluted
EPS
|
$ | 1.47 | $ | 1.29 | $ | 1.33 | $ | 1.12 | ||||||||
|
2009
|
2008
|
|||||||
|
Net
income for calculation of basic EPS purpose
|
$ | 6,905,441 | $ | 6,695,152 | ||||
|
Net
income for calculation of diluted EPS purpose
|
$ | 6,878,969 | $ | 6,634,560 | ||||
|
EARNING
PER SHARE
|
||||||||
|
Basic
EPS
|
$ | 1.26 | $ | 1.18 | ||||
|
Diluted
EPS
|
$ | 1.24 | $ | 1.16 | ||||
|
(With
Deloitte & Touche audit report dated March 10,
2010)
|
(Concluded)
|