Last checked at 15 Aug 2016 10:54
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2016 2nd IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2016/06/30 | 2015/12/31 | 2015/06/30 |
Assets | |||
Current assets | |||
Cash and cash equivalents | |||
Total cash and cash equivalents | 629,265,253 | 657,137,721 | 614,522,028 |
Current financial assets at fair value through profit or loss | |||
Total current financial assets at fair value through profit or loss | 812,511 | 6,114,913 | 1,476,888 |
Current available-for-sale financial assets | |||
Current available-for-sale financial assets, net | 521,046 | 627,508 | 1,003,504 |
Accounts receivable, net | |||
Accounts receivable, net | 420,140,906 | 564,705,314 | 421,039,079 |
Accounts receivable due from related parties, net | |||
Accounts receivable due from related parties, net | 15,811,044 | 26,203,276 | 16,958,699 |
Other receivables | |||
Other receivables, net | 48,938,097 | 43,779,955 | 41,622,802 |
Inventories | |||
Total inventories | 370,696,608 | 424,625,017 | 453,710,737 |
Prepayments | |||
Total prepayments | 13,784,406 | 14,444,295 | 10,210,176 |
Non-current assets classified as held for sale, net | |||
Non-current assets classified as held for sale, net | 0 | 0 | 4,825,329 |
Other current assets | |||
Total other current assets | 133,865,989 | 50,580,974 | 218,712,779 |
Total current assets | 1,633,835,860 | 1,788,218,973 | 1,784,082,021 |
Non-current assets | |||
Non-current available-for-sale financial assets | |||
Non-current available-for-sale financial assets, net | 33,331,834 | 38,997,120 | 53,234,697 |
Non-current financial assets at cost | |||
Non-current financial assets at cost, net | 23,264,051 | 18,795,163 | 8,805,733 |
Investments accounted for using equity method | |||
Investments accounted for using equity method, net | 73,444,010 | 77,634,937 | 65,290,284 |
Property, plant and equipment | |||
Total property, plant and equipment | 317,172,144 | 336,738,466 | 328,559,655 |
Investment property, net | |||
Investment property, net | 2,742,137 | 3,014,648 | 2,780,849 |
Intangible assets | |||
Total intangible assets | 2,990,911 | 3,253,837 | 4,184,210 |
Deferred tax assets | 17,654,859 | 18,303,571 | 17,343,004 |
Other non-current assets | |||
Total other non-current assets | 53,944,990 | 23,343,162 | 26,787,671 |
Total non-current assets | 524,544,936 | 520,080,904 | 506,986,103 |
Total assets | 2,158,380,796 | 2,308,299,877 | 2,291,068,124 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Short-term borrowings | |||
Total short-term borrowings | 83,644,765 | 70,233,209 | 204,559,642 |
Short-term notes and bills payable | |||
Total short-term notes and bills payable | 27,673,850 | 7,000,000 | 0 |
Current financial liabilities at fair value through profit or loss | |||
Total current financial liabilities at fair value through profit or loss | 4,185,435 | 484,773 | 1,508,076 |
Accounts payable | |||
Total accounts payable | 462,388,897 | 613,195,241 | 560,519,041 |
Accounts payable to related parties | |||
Total accounts payable to related parties | 24,852,047 | 30,862,535 | 32,953,845 |
Other payables | |||
Total other payables | 224,497,114 | 197,024,433 | 222,958,155 |
Current tax liabilities | 25,942,837 | 32,684,113 | 24,508,232 |
Current provisions | |||
Total current provisions | 2,307,808 | 2,332,882 | 2,526,999 |
Liabilities related to non-current assets classified as held for sale | 0 | 0 | 459,444 |
Other current liabilities | |||
Total other current liabilities | 102,252,435 | 102,305,015 | 76,623,585 |
Total current liabilities | 957,745,188 | 1,056,122,201 | 1,126,617,019 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | |||
Total non-current financial liabilities at fair value through profit or loss | 0 | 0 | 920 |
Bonds payable | |||
Total bonds payable | 147,278,891 | 161,789,254 | 157,025,614 |
Long-term borrowings | |||
Total long-term borrowings | 8,678,504 | 10,221,175 | 20,712,734 |
Deferred tax liabilities | |||
Total deferred tax liabilities | 9,641,518 | 9,580,816 | 6,692,224 |
Other non-current liabilities | |||
Total other non-current liabilities | 9,968,970 | 10,195,352 | 9,404,406 |
Total non-current liabilities | 175,567,883 | 191,786,597 | 193,835,898 |
Total liabilities | 1,133,313,071 | 1,247,908,798 | 1,320,452,917 |
Equity | |||
Equity attributable to owners of parent | |||
Share capital | |||
Ordinary share | 156,382,881 | 156,382,881 | 151,484,068 |
Stock dividend to be distributed | 26,236,483 | 0 | 16,795,204 |
Total capital stock | 182,619,364 | 156,382,881 | 168,279,272 |
Capital surplus | |||
Capital surplus, additional paid-in capital | |||
Total capital surplus, additional paid-in capital | 79,169,050 | 79,169,050 | 70,822,659 |
Capital Surplus, changes in ownership interests in subsidiaries | 1,520,505 | 0 | 311,417 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 2,864,245 | 2,567,488 | 2,032,343 |
Capital Surplus, restricted stock | 0 | 0 | 17,831,955 |
Total capital surplus | 83,553,800 | 81,736,538 | 90,998,374 |
Retained earnings | |||
Legal reserve | 107,866,626 | 93,179,928 | 93,179,928 |
Unappropriated retained earnings (accumulated deficit) | |||
Total unappropriated retained earnings (accumulated deficit) | 568,611,081 | 616,227,711 | 526,342,232 |
Total retained earnings | 676,477,707 | 709,407,639 | 619,522,160 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | |||
Total exchange differences on translation of foreign financial statements | 27,609,475 | 52,934,288 | 35,565,058 |
Unrealized gains (losses) on available-for-sale financial assets | |||
Total unrealized gains (losses) on available-for-sale financial assets | 3,930,508 | 7,187,393 | 24,219,755 |
Other equity, others | |||
Total other equity, others | 0 | 0 | -20,832,835 |
Total other equity interest | 31,539,983 | 60,121,681 | 38,951,978 |
Treasury shares | 18,901 | 18,901 | 18,901 |
Total equity attributable to owners of parent | 974,171,953 | 1,007,629,838 | 917,732,883 |
Non-controlling interests | 50,895,772 | 52,761,241 | 52,882,324 |
Total equity | 1,025,067,725 | 1,060,391,079 | 970,615,207 |
Total liabilities and equity | 2,158,380,796 | 2,308,299,877 | 2,291,068,124 |
Number of share capital awaiting retirement | 0 | 0 | 0 |
Equivalent issue shares of advance receipts for ordinary share | 0 | 0 | 0 |
Number of shares in entity held by entity and by its subsidiaries | 1,685,317 | 1,685,317 | 1,605,064 |
Income Statement
Accounting Title | 2016/2nd | 2015/2nd | 2016/01/01 To 2016/06/30 | 2015/01/01 To 2015/06/30 |
Operating revenue | ||||
Total operating revenue | 922,136,921 | 972,708,221 | 1,880,146,138 | 1,986,830,642 |
Operating costs | ||||
Total operating costs | 866,647,080 | 902,666,331 | 1,757,079,824 | 1,844,365,394 |
Gross profit (loss) from operations | 55,489,841 | 70,041,890 | 123,066,314 | 142,465,248 |
Gross profit (loss) from operations | 55,489,841 | 70,041,890 | 123,066,314 | 142,465,248 |
Operating expenses | ||||
Selling expenses | ||||
Total selling expenses | 5,136,777 | 5,839,085 | 10,473,090 | 11,685,721 |
Administrative expenses | ||||
Total administrative expenses | 17,644,254 | 18,806,826 | 34,451,702 | 36,413,187 |
Research and development expenses | ||||
Total research and development expenses | 11,887,020 | 12,285,062 | 21,995,068 | 22,652,820 |
Total operating expenses | 34,668,051 | 36,930,973 | 66,919,860 | 70,751,728 |
Net operating income (loss) | 20,821,790 | 33,110,917 | 56,146,454 | 71,713,520 |
Non-operating income and expenses | ||||
Other income | ||||
Total other income | 13,479,441 | 7,733,649 | 22,332,941 | 14,121,501 |
Other gains and losses | ||||
Other gains and losses, net | 2,500,829 | 2,689,448 | -190,494 | 1,345,522 |
Finance costs | ||||
Finance costs, net | 5,332,718 | 3,834,969 | 10,623,559 | 8,084,048 |
Share of profit (loss) of associates and joint ventures accounted for using equity method | ||||
Share of profit (loss) of associates and joint ventures accounted for using equity method, net | -229,447 | 838,681 | -119,499 | 1,688,765 |
Total non-operating income and expenses | 10,418,105 | 7,426,809 | 11,399,389 | 9,071,740 |
Profit (loss) from continuing operations before tax | 31,239,895 | 40,537,726 | 67,545,843 | 80,785,260 |
Tax expense (income) | ||||
Total tax expense (income) | 13,164,799 | 14,144,048 | 21,921,887 | 23,132,025 |
Profit (loss) from continuing operations | 18,075,096 | 26,393,678 | 45,623,956 | 57,653,235 |
Profit (loss) | 18,075,096 | 26,393,678 | 45,623,956 | 57,653,235 |
Other comprehensive income | ||||
Components of other comprehensive income that will be reclassified to profit or loss | ||||
Exchange differences on translation | -19,245,851 | -14,355,096 | -27,288,717 | -27,816,457 |
Unrealised gains (losses) on valuation of available-for-sale financial assets | -1,593,733 | 3,973,873 | -3,262,711 | 153,788 |
Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will be reclassified to profit or loss | ||||
Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will be reclassified to profit or loss | -973,709 | -431,021 | -1,601,077 | 206,142 |
Components of other comprehensive income that will be reclassified to profit or loss | -21,813,293 | -10,812,244 | -32,152,505 | -27,456,527 |
Other comprehensive income, net | -21,813,293 | -10,812,244 | -32,152,505 | -27,456,527 |
Total comprehensive income | -3,738,197 | 15,581,434 | 13,471,451 | 30,196,708 |
Profit (loss), attributable to: | ||||
Profit (loss), attributable to owners of parent | 17,684,751 | 25,689,564 | 45,261,509 | 56,074,831 |
Profit (loss), attributable to non-controlling interests | 390,345 | 704,114 | 362,447 | 1,578,404 |
Comprehensive income attributable to: | ||||
Comprehensive income, attributable to owners of parent | -677,126 | 17,591,023 | 16,679,811 | 32,262,464 |
Comprehensive income, attributable to non-controlling interests | -3,061,071 | -2,009,589 | -3,208,360 | -2,065,756 |
Basic earnings per share | ||||
Basic earnings (loss) per share from continuing operations | 1.02 | 1.49 | 2.62 | 3.26 |
Total basic earnings per share | 1.02 | 1.49 | 2.62 | 3.26 |
Diluted earnings per share | ||||
Diluted earnings (loss) per share from continuing operations | 1.02 | 1.48 | 2.61 | 3.23 |
Total diluted earnings per share | 1.02 | 1.48 | 2.61 | 3.23 |
Statement of cash flows Statement of cash flows
Accounting Title | 2016/01/01To2016/06/30 | 2015/01/01To2015/06/30 |
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 67,545,843 | 80,785,260 |
Profit (loss) before tax | 67,545,843 | 80,785,260 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 33,962,822 | 36,627,427 |
Amortization expense | 448,854 | 459,158 |
Provision (reversal of provision) for bad debt expense | 0 | 507,524 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | 10,837,476 | 3,852,204 |
Interest expense | 10,620,052 | 8,080,506 |
Interest income | -14,553,517 | -11,060,988 |
Dividend income | -261,910 | -543,967 |
Share-based payments | 0 | 549,120 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | 119,499 | -1,688,765 |
Loss (gain) on disposal of property, plan and equipment | -277,318 | -137,138 |
Loss (gain) on disposal of non-current assets classified as held for sale | 0 | -28,375 |
Loss (gain) on disposal of investments | 184,498 | -2,287,685 |
Impairment loss on non-financial assets | 0 | 3,323,672 |
Total adjustments to reconcile profit (loss) | 41,080,456 | 37,652,693 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Decrease (increase) in financial assets held for trading | -1,834,412 | -1,652,853 |
Decrease (increase) in notes receivable | 360,417 | 260,482 |
Decrease (increase) in accounts receivable | 144,206,191 | 326,479,730 |
Decrease (increase) in accounts receivable due from related parties | 10,392,232 | 7,135,267 |
Decrease (increase) in other receivable | -670,919 | 5,715,223 |
Decrease (increase) in inventories | 53,928,409 | -84,513,924 |
Decrease (increase) in prepaid expenses | 659,889 | 202,965 |
Total changes in operating assets | 207,041,807 | 253,626,890 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -150,807,113 | -133,796,218 |
Increase (decrease) in accounts payable to related parties | -6,010,488 | -8,060,756 |
Increase (decrease) in other payable | -25,111,485 | -37,708,426 |
Increase (decrease) in provisions | -25,074 | -147,880 |
Increase (decrease) in other current liabilities | -10,100,323 | -9,223,464 |
Increase (decrease) in net defined benefit liability | -5,686 | 13,349 |
Total changes in operating liabilities | -192,060,169 | -188,923,395 |
Total changes in operating assets and liabilities | 14,981,638 | 64,703,495 |
Total adjustments | 56,062,094 | 102,356,188 |
Cash inflow (outflow) generated from operations | 123,607,937 | 183,141,448 |
Income taxes refund (paid) | -27,953,749 | -30,678,153 |
Net cash flows from (used in) operating activities | 95,654,188 | 152,463,295 |
Cash flows from (used in) investing activities | ||
Acquisition of available-for-sale financial assets | -77,453 | -2,447,279 |
Proceeds from disposal of available-for-sale financial assets | 1,893,484 | 3,352,107 |
Acquisition of financial assets at cost | -4,853,463 | -3,171,807 |
Proceeds from disposal of financial assets at cost | 7,656 | 3,668 |
Acquisition of investments accounted for using equity method | -258,123 | -1,325,248 |
Proceeds from capital reduction of investments accounted for using equity method | 280,855 | 0 |
Proceeds from disposal of non-current assets classified as held for sale | 0 | 3,433,375 |
Acquisition of property, plant and equipment | -24,699,762 | -28,827,839 |
Proceeds from disposal of property, plant and equipment | 1,073,965 | 2,592,321 |
Increase in other receivables due from related parties | -966,975 | -696,029 |
Acquisition of intangible assets | 0 | -68,941 |
Increase in other financial assets | -83,285,015 | -177,626,328 |
Decrease in other financial assets | 7,577 | 0 |
Increase in other non-current assets | 530,971 | -2,945,065 |
Increase in other prepayments | -1,205,452 | -92,820 |
Interest received | 11,053,661 | 10,386,840 |
Dividends received | 261,910 | 543,967 |
Other investing activities | -29,805,465 | -934,421 |
Net cash flows from (used in) investing activities | -130,041,629 | -197,823,499 |
Cash flows from (used in) financing activities | ||
Increase in short-term loans | 13,411,556 | 0 |
Decrease in short-term loans | 0 | -21,940,865 |
Increase in short-term notes and bills payable | 20,700,000 | 0 |
Proceeds from issuing bonds | 9,000,000 | 33,012,658 |
Repayments of bonds | -9,131,160 | -3,000,000 |
Proceeds from long-term debt | 469,500 | 805,833 |
Repayments of long-term debt | -6,785,169 | -3,375,893 |
Increase in other non-current liabilities | 174,769 | 89,282 |
Interest paid | -8,003,044 | -6,064,610 |
Change in non-controlling interests | 558,731 | 502,511 |
Net cash flows from (used in) financing activities | 20,395,183 | 28,916 |
Effect of exchange rate changes on cash and cash equivalents | -13,880,210 | -19,183,985 |
Net increase (decrease) in cash and cash equivalents | -27,872,468 | -64,515,273 |
Cash and cash equivalents at beginning of period | 657,137,721 | 679,037,301 |
Cash and cash equivalents at end of period | 629,265,253 | 614,522,028 |
Cash and cash equivalents reported in the statement of financial position | 629,265,253 | 614,522,028 |
Statements of Changes in Stockholders' Equity
Independent Auditors' Report
2016/06/30 Statement of Stockholders' Equity
Unit: NT$ thousand
Ordinary share | Stock dividend to be distributed | Total share capital | Capital surplus | Legal reserve | Unappropriated retained earnings (accumulated deficit) | Total retained earnings | Exchange differences on translation of foreign financial statements | Unrealized gains (losses) on available-for-sale financial assets | Others | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity at beginning of period | 156,382,881 | 0 | 156,382,881 | 81,736,538 | 93,179,928 | 616,227,711 | 709,407,639 | 52,934,288 | 7,187,393 | 0 | 60,121,681 | -18,901 | 1,007,629,838 | 52,761,241 | 1,060,391,079 |
Legal reserve appropriated | 0 | 0 | 0 | 0 | 14,686,698 | -14,686,698 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash dividends of ordinary share | 0 | 0 | 0 | 0 | 0 | -62,553,153 | -62,553,153 | 0 | 0 | 0 | 0 | 0 | -62,553,153 | 0 | -62,553,153 |
Stock dividends of ordinary share | 0 | 15,638,288 | 15,638,288 | 0 | 0 | -15,638,288 | -15,638,288 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | 0 | 296,757 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 296,757 | 0 | 296,757 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 45,261,509 | 45,261,509 | 0 | 0 | 0 | 0 | 0 | 45,261,509 | 362,447 | 45,623,956 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25,324,813 | -3,256,885 | 0 | -28,581,698 | 0 | -28,581,698 | -3,570,807 | -32,152,505 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 45,261,509 | 45,261,509 | -25,324,813 | -3,256,885 | 0 | -28,581,698 | 0 | 16,679,811 | -3,208,360 | 13,471,451 |
Changes in ownership interests in subsidiaries | 0 | 0 | 0 | 1,520,505 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,520,505 | 0 | 1,520,505 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,342,891 | 1,342,891 |
Share-based payments | 0 | 10,598,195 | 10,598,195 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,598,195 | 0 | 10,598,195 |
Total increase (decrease) in equity | 0 | 26,236,483 | 26,236,483 | 1,817,262 | 14,686,698 | -47,616,630 | -32,929,932 | -25,324,813 | -3,256,885 | 0 | -28,581,698 | 0 | -33,457,885 | -1,865,469 | -35,323,354 |
Equity at end of period | 156,382,881 | 26,236,483 | 182,619,364 | 83,553,800 | 107,866,626 | 568,611,081 | 676,477,707 | 27,609,475 | 3,930,508 | 0 | 31,539,983 | -18,901 | 974,171,953 | 50,895,772 | 1,025,067,725 |
2015/06/30 Statement of Stockholders' Equity
Unit: NT$ thousand
Ordinary share | Stock dividend to be distributed | Total share capital | Capital surplus | Legal reserve | Unappropriated retained earnings (accumulated deficit) | Total retained earnings | Exchange differences on translation of foreign financial statements | Unrealized gains (losses) on available-for-sale financial assets | Others | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity at beginning of period | 147,934,068 | 0 | 147,934,068 | 71,659,908 | 80,126,455 | 546,932,523 | 627,058,978 | 59,610,235 | 23,986,945 | 0 | 83,597,180 | -18,901 | 930,231,233 | 54,445,569 | 984,676,802 |
Legal reserve appropriated | 0 | 0 | 0 | 0 | 13,053,473 | -13,053,473 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash dividends of ordinary share | 0 | 0 | 0 | 0 | 0 | -56,214,946 | -56,214,946 | 0 | 0 | 0 | 0 | 0 | -56,214,946 | 0 | -56,214,946 |
Stock dividends of ordinary share | 0 | 7,396,703 | 7,396,703 | 0 | 0 | -7,396,703 | -7,396,703 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | 0 | 1,196,683 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,196,683 | 0 | 1,196,683 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 56,074,831 | 56,074,831 | 0 | 0 | 0 | 0 | 0 | 56,074,831 | 1,578,404 | 57,653,235 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -24,045,177 | 232,810 | 0 | -23,812,367 | 0 | -23,812,367 | -3,644,160 | -27,456,527 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 56,074,831 | 56,074,831 | -24,045,177 | 232,810 | 0 | -23,812,367 | 0 | 32,262,464 | -2,065,756 | 30,196,708 |
Issue of ordinary share, others | 3,550,000 | 0 | 3,550,000 | 17,831,955 | 0 | 0 | 0 | 0 | 0 | -21,381,955 | -21,381,955 | 0 | 0 | 0 | 0 |
Changes in ownership interests in subsidiaries | 0 | 0 | 0 | 309,828 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 309,828 | 0 | 309,828 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 502,511 | 502,511 |
Share-based payments | 0 | 9,398,501 | 9,398,501 | 0 | 0 | 0 | 0 | 0 | 0 | 549,120 | 549,120 | 0 | 9,947,621 | 0 | 9,947,621 |
Total increase (decrease) in equity | 3,550,000 | 16,795,204 | 20,345,204 | 19,338,466 | 13,053,473 | -20,590,291 | -7,536,818 | -24,045,177 | 232,810 | -20,832,835 | -44,645,202 | 0 | -12,498,350 | -1,563,245 | -14,061,595 |
Equity at end of period | 151,484,068 | 16,795,204 | 168,279,272 | 90,998,374 | 93,179,928 | 526,342,232 | 619,522,160 | 35,565,058 | 24,219,755 | -20,832,835 | 38,951,978 | -18,901 | 917,732,883 | 52,882,324 | 970,615,207 |