Last checked at 14 Aug 2018 10:17
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2018 2nd IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2018/06/30 | 2017/12/31 | 2017/06/30 |
Assets | |||
Current assets | |||
Cash and cash equivalents | 728,813,888 | 642,496,059 | 595,905,894 |
Current financial assets at fair value through profit or loss | 16,153,809 | 7,009,541 | 8,829,844 |
Current available-for-sale financial assets | 0 | 290 | 556,260 |
Current financial assets at amortised cost | 112,593,662 | 0 | 0 |
Accounts receivable, net | 690,456,031 | 1,150,428,069 | 502,291,087 |
Accounts receivable due from related parties, net | 36,681,278 | 80,066,388 | 52,063,448 |
Other receivables | 66,821,440 | 67,700,725 | 41,262,731 |
Other receivables due from related parties | 75,239,325 | 82,627,493 | 5,598,997 |
Current inventories | 610,758,468 | 560,954,855 | 375,334,239 |
Prepayments | 18,055,495 | 20,328,111 | 14,843,385 |
Other current assets | 0 | 134,524,586 | 137,827,046 |
Total current assets | 2,355,573,396 | 2,746,136,117 | 1,734,512,931 |
Non-current assets | |||
Non-current financial assets at fair value through profit or loss | 66,740,284 | 3,040,601 | 3,883,019 |
Non-current financial assets at fair value through other comprehensive income | 70,192,815 | 0 | 0 |
Non-current available-for-sale financial assets | 0 | 70,868,132 | 186,889,881 |
Non-current financial assets at amortised cost | 16,182,308 | 0 | 0 |
Non-current financial assets at cost | 0 | 49,861,639 | 33,954,586 |
Non-current investments in debt instrument without active market | 0 | 4,571,100 | 0 |
Investments accounted for using equity method | 153,272,976 | 151,000,283 | 143,730,503 |
Property, plant and equipment | 274,173,928 | 278,204,005 | 294,006,017 |
Investment property, net | 2,339,888 | 2,422,523 | 2,430,118 |
Intangible assets | 9,445,955 | 9,552,444 | 10,067,842 |
Deferred tax assets | 19,486,113 | 15,048,377 | 16,463,460 |
Other non-current assets | 55,530,605 | 76,511,392 | 31,639,439 |
Total non-current assets | 667,364,872 | 661,080,496 | 723,064,865 |
Total assets | 3,022,938,268 | 3,407,216,613 | 2,457,577,796 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Current borrowings | 494,422,503 | 418,835,146 | 165,275,140 |
Short-term notes and bills payable | 2,098,851 | 10,960,269 | 1,200,000 |
Current financial liabilities at fair value through profit or loss | 2,669,083 | 6,486,348 | 2,326,261 |
Accounts payable | 661,631,197 | 1,119,169,644 | 508,191,976 |
Accounts payable to related parties | 40,380,981 | 97,315,119 | 54,813,636 |
Other payables | 219,490,591 | 255,696,126 | 272,522,600 |
Current tax liabilities | 20,750,721 | 38,439,140 | 23,096,419 |
Current provisions | 5,269,711 | 4,796,498 | 3,279,398 |
Other current liabilities | 40,787,842 | 73,803,977 | 103,008,645 |
Total current liabilities | 1,487,501,480 | 2,025,502,267 | 1,133,714,075 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | 4,346 | 0 | 0 |
Bonds payable | 175,137,650 | 168,495,189 | 129,809,899 |
Non-current portion of non-current borrowings | 21,062,189 | 19,984,818 | 22,150,379 |
Deferred tax liabilities | 20,484,995 | 12,541,548 | 29,983,650 |
Other non-current liabilities | 8,775,912 | 8,900,336 | 9,059,945 |
Total non-current liabilities | 225,465,092 | 209,921,891 | 191,003,873 |
Total liabilities | 1,712,966,572 | 2,235,424,158 | 1,324,717,948 |
Equity | |||
Equity attributable to owners of parent | |||
Share capital | |||
Ordinary share | 173,287,383 | 173,287,383 | 173,287,383 |
Total capital stock | 173,287,383 | 173,287,383 | 173,287,383 |
Capital surplus | |||
Capital surplus, additional paid-in capital | 88,501,031 | 88,501,031 | 88,501,031 |
Capital surplus, difference between consideration and carrying amount of subsidiaries acquired or disposed | 91,382,310 | 3,300,393 | 1,044,425 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 5,617,187 | 4,972,207 | 2,466,640 |
Capital surplus, share options | 1,099,253 | 1,099,253 | 0 |
Total capital surplus | 186,599,781 | 97,872,884 | 92,012,096 |
Retained earnings | |||
Legal reserve | 136,606,364 | 122,732,924 | 122,732,924 |
Special reserve | 27,539,310 | 0 | 0 |
Unappropriated retained earnings (accumulated deficit) | 691,698,632 | 717,885,835 | 625,260,761 |
Total retained earnings | 855,844,306 | 840,618,759 | 747,993,685 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | -41,260,739 | -56,320,437 | -51,370,381 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | 14,024,109 | 0 | 0 |
Unrealized gains (losses) on available-for-sale financial assets | 0 | 28,781,127 | 98,284,849 |
Total other equity interest | -27,236,630 | -27,539,310 | 46,914,468 |
Treasury shares | 18,901 | 18,901 | 18,901 |
Total equity attributable to owners of parent | 1,188,475,939 | 1,084,220,815 | 1,060,188,731 |
Non-controlling interests | 121,495,757 | 87,571,640 | 72,671,117 |
Total equity | 1,309,971,696 | 1,171,792,455 | 1,132,859,848 |
Total liabilities and equity | 3,022,938,268 | 3,407,216,613 | 2,457,577,796 |
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 | 1,853,848 | 1,853,848 | 1,853,848 |
Income Statement
Accounting Title | 2018/2nd | 2017/2nd | 2018/01/01To2018/06/30 | 2017/01/01To2017/06/30 |
Operating revenue | ||||
Total operating revenue | 1,079,470,448 | 922,412,465 | 2,108,065,028 | 1,897,456,321 |
Operating costs | ||||
Total operating costs | 1,018,679,872 | 859,638,042 | 1,983,597,718 | 1,762,957,282 |
Gross profit (loss) from operations | 60,790,576 | 62,774,423 | 124,467,310 | 134,499,039 |
Gross profit (loss) from operations | 60,790,576 | 62,774,423 | 124,467,310 | 134,499,039 |
Operating expenses | ||||
Selling expenses | 9,133,606 | 5,479,436 | 15,800,904 | 11,581,728 |
Administrative expenses | 18,426,624 | 17,676,081 | 34,767,661 | 33,719,107 |
Research and development expenses | 17,390,256 | 14,667,512 | 33,398,795 | 27,757,084 |
Total operating expenses | 44,950,486 | 37,823,029 | 83,967,360 | 73,057,919 |
Net operating income (loss) | 15,840,090 | 24,951,394 | 40,499,950 | 61,441,120 |
Non-operating income and expenses | ||||
Other income | ||||
Total other income | 14,420,632 | 11,112,256 | 27,603,329 | 24,179,182 |
Other gains and losses | ||||
Other gains and losses, net | 9,737,716 | -3,366,709 | 9,244,848 | -8,914,352 |
Finance costs | ||||
Finance costs, net | 11,821,804 | 8,248,951 | 22,425,919 | 16,750,394 |
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 | 2,735,670 | 1,203,607 | 5,870,428 | 2,134,297 |
Total non-operating income and expenses | 15,072,214 | 700,203 | 20,292,686 | 648,733 |
Profit (loss) from continuing operations before tax | 30,912,304 | 25,651,597 | 60,792,636 | 62,089,853 |
Tax expense (income) | ||||
Total tax expense (income) | 13,538,639 | 10,732,821 | 19,401,926 | 17,963,631 |
Profit (loss) from continuing operations | 17,373,665 | 14,918,776 | 41,390,710 | 44,126,222 |
Profit (loss) | 17,373,665 | 14,918,776 | 41,390,710 | 44,126,222 |
Other comprehensive income | ||||
Components of other comprehensive income that will not be reclassified to profit or loss | ||||
Unrealised gains (losses) from investments in equity instruments measured at fair value through other comprehensive income | -6,923,773 | 0 | -4,929,664 | 0 |
Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss | -2,589,322 | 0 | -4,425,860 | 0 |
Components of other comprehensive income that will not be reclassified to profit or loss | -9,513,095 | 0 | -9,355,524 | 0 |
Components of other comprehensive income that will be reclassified to profit or loss | ||||
Exchange differences on translation | 10,457,506 | 12,195,863 | 15,558,380 | -44,788,344 |
Unrealised gains (losses) on valuation of available-for-sale financial assets | 0 | -4,245,905 | 0 | 61,038,751 |
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 | -2,094,252 | 754,596 | -548,935 | 6,877,129 |
Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 0 | -1,769,514 | 0 | 8,251,185 |
Components of other comprehensive income that will be reclassified to profit or loss | 8,363,254 | 10,474,068 | 15,009,445 | 14,876,351 |
Total other comprehensive income | -1,149,841 | 10,474,068 | 5,653,921 | 14,876,351 |
Total comprehensive income | 16,223,824 | 25,392,844 | 47,044,631 | 59,002,573 |
Profit (loss), attributable to: | ||||
Profit (loss), attributable to owners of parent | 17,489,927 | 17,879,442 | 41,570,590 | 46,046,973 |
Profit (loss), attributable to non-controlling interests | -116,262 | -2,960,666 | -179,880 | -1,920,751 |
Comprehensive income attributable to: | ||||
Comprehensive income, attributable to owners of parent | 16,870,131 | 26,658,353 | 47,480,044 | 60,453,174 |
Comprehensive income, attributable to non-controlling interests | -646,307 | -1,265,509 | -435,413 | -1,450,601 |
Basic earnings per share | ||||
Basic earnings (loss) per share from continuing operations | 1.01 | 1.03 | 2.40 | 2.66 |
Total basic earnings per share | 1.01 | 1.03 | 2.40 | 2.66 |
Diluted earnings per share | ||||
Diluted earnings (loss) per share from continuing operations | 1.00 | 1.02 | 2.39 | 2.64 |
Total diluted earnings per share | 1.00 | 1.02 | 2.39 | 2.64 |
Statements of Cash Flows
Accounting Title | 2018/01/01To2018/06/30 | 2017/01/01To2017/06/30 |
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 60,792,636 | 62,089,853 |
Profit (loss) before tax | 60,792,636 | 62,089,853 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 30,449,192 | 26,258,486 |
Amortization expense | 636,793 | 626,037 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 321,044 | -15,337 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | -15,398,715 | 12,306,229 |
Interest expense | 22,061,788 | 16,701,120 |
Interest income | -24,051,460 | -20,662,037 |
Dividend income | -418,271 | -419,943 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | -5,870,428 | -2,134,297 |
Loss (gain) on disposal of property, plan and equipment | 26,540 | 152,556 |
Loss (gain) on disposal of investments | 0 | 362,833 |
Impairment loss on financial assets | 8,339 | 5,048,957 |
Total adjustments to reconcile profit (loss) | 7,764,822 | 38,224,604 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Adjustments for decrease (increase) in financial assets held for trading | 0 | -14,848,431 |
Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | -411,047 | 0 |
Decrease (increase) in notes receivable | -364,504 | 143,587 |
Decrease (increase) in accounts receivable | 462,572,604 | 196,657,693 |
Decrease (increase) in accounts receivable due from related parties | 43,385,110 | -20,082,603 |
Decrease (increase) in other receivable | 1,034,137 | -1,280,579 |
Adjustments for decrease (increase) in inventories | -49,803,613 | 10,500,956 |
Decrease (increase) in prepaid expenses | 2,272,616 | -1,757,882 |
Total changes in operating assets | 458,685,303 | 169,332,741 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -457,538,447 | -170,863,281 |
Increase (decrease) in accounts payable to related parties | -56,934,138 | 24,205,707 |
Increase (decrease) in other payable | -62,212,374 | -24,149,848 |
Increase (decrease) in provisions | 473,213 | 296,362 |
Adjustments for increase (decrease) in other current liabilities | -3,186,598 | 5,790,709 |
Increase (decrease) in net defined benefit liability | 3,389 | -83,627 |
Total changes in operating liabilities | -579,394,955 | -164,803,978 |
Total changes in operating assets and liabilities | -120,709,652 | 4,528,763 |
Total adjustments | -112,944,830 | 42,753,367 |
Cash inflow (outflow) generated from operations | -52,152,194 | 104,843,220 |
Income taxes refund (paid) | -33,584,634 | -24,268,782 |
Net cash flows from (used in) operating activities | -85,736,828 | 80,574,438 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -6,858,420 | 0 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 1,275,404 | 0 |
Acquisition of financial assets at amortised cost | -11,498,750 | 0 |
Proceeds from disposal of financial assets at amortised cost | 21,930,924 | 0 |
Proceeds from repayments of financial assets at amortised cost | 1,379,850 | 0 |
Acquisition of financial assets designated at fair value through profit or loss | -3,448,770 | 0 |
Proceeds from disposal of financial assets designated at fair value through profit or loss | 100,360 | 250,400 |
Acquisition of available-for-sale financial assets | 0 | -158,184 |
Proceeds from disposal of available-for-sale financial assets | 0 | 621,697 |
Acquisition of financial assets at cost | 0 | -8,606,999 |
Proceeds from disposal of financial assets at cost | 0 | 335,100 |
Acquisition of investments accounted for using equity method | -3,776,795 | -125,688 |
Proceeds from capital reduction of investments accounted for using equity method | 0 | 786,903 |
Acquisition of property, plant and equipment | -34,609,701 | -20,939,041 |
Proceeds from disposal of property, plant and equipment | 10,670,391 | 1,594,841 |
Decrease in other receivables due from related parties | 20,055,909 | 228,225 |
Increase in other financial assets | 0 | -31,108,288 |
Increase in other non-current assets | 0 | -2,046,693 |
Increase in other prepayments | 0 | -484,086 |
Decrease in other prepayments | 212,488 | 0 |
Interest received | 23,322,372 | 20,602,403 |
Dividends received | 1,029,172 | 419,943 |
Other investing activities | -58,634 | -250,050 |
Net cash flows from (used in) investing activities | 19,725,800 | -38,879,517 |
Cash flows from (used in) financing activities | ||
Increase in short-term loans | 75,587,357 | 0 |
Decrease in short-term loans | 0 | -6,197,003 |
Decrease in short-term notes and bills payable | -8,860,269 | -14,790,844 |
Proceeds from issuing bonds | 10,500,000 | 9,000,000 |
Repayments of bonds | -31,583,203 | -24,131,036 |
Proceeds from long-term debt | 1,898,885 | 3,207,353 |
Repayments of long-term debt | -913,534 | -5,187,494 |
Increase in other non-current liabilities | 0 | 710,410 |
Decrease in other non-current liabilities | -69,179 | 0 |
Interest paid | -20,468,058 | -16,276,441 |
Change in non-controlling interests | -596,134 | 794,175 |
Other financing activities | 122,882,261 | 0 |
Net cash flows from (used in) financing activities | 148,378,126 | -52,870,880 |
Effect of exchange rate changes on cash and cash equivalents | 3,950,731 | -26,073,448 |
Net increase (decrease) in cash and cash equivalents | 86,317,829 | -37,249,407 |
Cash and cash equivalents at beginning of period | 642,496,059 | 633,155,301 |
Cash and cash equivalents at end of period | 728,813,888 | 595,905,894 |
Cash and cash equivalents reported in the statement of financial position | 728,813,888 | 595,905,894 |
Statements of Changes in Stockholders' Equity
Ordinary share | Total share capital | Capital surplus | Legal reserve | Special reserve | Unappropriated retained earnings (accumulated deficit) | Total retained earnings | Exchange differences on translation of foreign financial statements | Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income | Unrealized gains (losses) on available-for-sale financial assets | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity | 173,287,383 | 173,287,383 | 97,872,884 | 122,732,924 | 0 | 717,885,835 | 840,618,759 | -56,320,437 | 0 | 28,781,127 | -27,539,310 | -18,901 | 1,084,220,815 | 87,571,640 | 1,171,792,455 |
Effects of retrospective application and retrospective restatement | 0 | 0 | 0 | 0 | 0 | 7,309,666 | 7,309,666 | 0 | 23,174,353 | -28,781,127 | -5,606,774 | 0 | 1,702,892 | -297,228 | 1,405,664 |
Equity at beginning of period after adjustments | 173,287,383 | 173,287,383 | 97,872,884 | 122,732,924 | 0 | 725,195,501 | 847,928,425 | -56,320,437 | 23,174,353 | 0 | -33,146,084 | -18,901 | 1,085,923,707 | 87,274,412 | 1,173,198,119 |
Legal reserve appropriated | 0 | 0 | 0 | 13,873,440 | 0 | -13,873,440 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Special reserve appropriated | 0 | 0 | 0 | 0 | 27,539,310 | -27,539,310 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash dividends of ordinary share | 0 | 0 | 0 | 0 | 0 | -34,657,477 | -34,657,477 | 0 | 0 | 0 | 0 | 0 | -34,657,477 | 0 | -34,657,477 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | 644,980 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 644,980 | 0 | 644,980 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 41,570,590 | 41,570,590 | 0 | 0 | 0 | 0 | 0 | 41,570,590 | -179,880 | 41,390,710 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15,059,698 | -9,150,244 | 0 | 5,909,454 | 0 | 5,909,454 | -255,533 | 5,653,921 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 41,570,590 | 41,570,590 | 15,059,698 | -9,150,244 | 0 | 5,909,454 | 0 | 47,480,044 | -435,413 | 47,044,631 |
Changes in ownership interests in subsidiaries | 0 | 0 | 88,081,917 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 88,081,917 | 0 | 88,081,917 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34,656,758 | 34,656,758 |
Disposal of investments in equity instruments designated at fair value through other comprehensive income | 0 | 0 | 0 | 0 | 0 | 1,002,768 | 1,002,768 | 0 | 0 | 0 | 0 | 0 | 1,002,768 | 0 | 1,002,768 |
Increase (decrease) in equity | 0 | 0 | 88,726,897 | 13,873,440 | 27,539,310 | -33,496,869 | 7,915,881 | 15,059,698 | -9,150,244 | 0 | 5,909,454 | 0 | 102,552,232 | 34,221,345 | 136,773,577 |
Equity | 173,287,383 | 173,287,383 | 186,599,781 | 136,606,364 | 27,539,310 | 691,698,632 | 855,844,306 | -41,260,739 | 14,024,109 | 0 | -27,236,630 | -18,901 | 1,188,475,939 | 121,495,757 | 1,309,971,696 |