Last checked at 14 Nov 2018 11:31
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2018 3rd IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2018/09/30 | 2017/12/31 | 2017/09/30 |
Assets | |||
Current assets | |||
Cash and cash equivalents | 694,448,838 | 642,496,059 | 613,157,572 |
Current financial assets at fair value through profit or loss | 6,967,725 | 7,009,541 | 5,735,886 |
Current available-for-sale financial assets | 0 | 290 | 622,408 |
Current financial assets at amortised cost | 139,400,571 | 0 | 0 |
Accounts receivable, net | 997,262,663 | 1,150,428,069 | 633,048,553 |
Accounts receivable due from related parties, net | 41,909,899 | 80,066,388 | 59,367,158 |
Other receivables | 74,712,608 | 67,700,725 | 57,771,384 |
Other receivables due from related parties | 64,478,511 | 82,627,493 | 5,741,137 |
Current inventories | 724,169,366 | 560,954,855 | 519,472,559 |
Prepayments | 17,558,462 | 20,328,111 | 14,301,121 |
Other current assets | 0 | 134,524,586 | 136,311,250 |
Total current assets | 2,760,908,643 | 2,746,136,117 | 2,045,529,028 |
Non-current assets | |||
Non-current financial assets at fair value through profit or loss | 65,861,482 | 3,040,601 | 3,178,695 |
Non-current financial assets at fair value through other comprehensive income | 71,628,777 | 0 | 0 |
Non-current available-for-sale financial assets | 0 | 70,868,132 | 169,959,954 |
Non-current financial assets at amortised cost | 15,415,796 | 0 | 0 |
Non-current financial assets at cost | 0 | 49,861,639 | 47,074,620 |
Non-current investments in debt instrument without active market | 0 | 4,571,100 | 0 |
Investments accounted for using equity method | 157,853,399 | 151,000,283 | 138,911,332 |
Property, plant and equipment | 267,228,627 | 278,204,005 | 297,492,912 |
Investment property, net | 2,256,628 | 2,422,523 | 2,349,393 |
Intangible assets | 30,946,646 | 9,552,444 | 9,731,127 |
Deferred tax assets | 21,092,396 | 15,048,377 | 16,873,275 |
Other non-current assets | 43,622,968 | 76,511,392 | 31,554,300 |
Total non-current assets | 675,906,719 | 661,080,496 | 717,125,608 |
Total assets | 3,436,815,362 | 3,407,216,613 | 2,762,654,636 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Current borrowings | 569,521,547 | 418,835,146 | 304,622,456 |
Short-term notes and bills payable | 899,720 | 10,960,269 | 9,767,222 |
Current financial liabilities at fair value through profit or loss | 2,990,795 | 6,486,348 | 770,467 |
Accounts payable | 968,319,366 | 1,119,169,644 | 685,869,582 |
Accounts payable to related parties | 45,434,872 | 97,315,119 | 64,983,995 |
Other payables | 262,604,054 | 255,696,126 | 221,348,553 |
Current tax liabilities | 26,877,919 | 38,439,140 | 18,466,580 |
Current provisions | 6,379,545 | 4,796,498 | 4,206,132 |
Other current liabilities | 38,153,697 | 73,803,977 | 95,406,033 |
Total current liabilities | 1,921,181,515 | 2,025,502,267 | 1,405,441,020 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | 18,750 | 0 | 0 |
Bonds payable | 180,996,884 | 168,495,189 | 150,321,255 |
Non-current portion of non-current borrowings | 35,879,364 | 19,984,818 | 12,404,308 |
Deferred tax liabilities | 20,696,768 | 12,541,548 | 28,832,008 |
Other non-current liabilities | 9,531,825 | 8,900,336 | 9,018,437 |
Total non-current liabilities | 247,123,591 | 209,921,891 | 200,576,008 |
Total liabilities | 2,168,305,106 | 2,235,424,158 | 1,606,017,028 |
Equity | |||
Equity attributable to owners of parent | |||
Share capital | |||
Ordinary share | 138,629,906 | 173,287,383 | 173,287,383 |
Total capital stock | 138,629,906 | 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 | 93,573,126 | 3,300,393 | 4,845,329 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 5,392,745 | 4,972,207 | 2,359,661 |
Capital surplus, share options | 1,099,253 | 1,099,253 | 0 |
Total capital surplus | 188,566,155 | 97,872,884 | 95,706,021 |
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) | 716,612,590 | 717,885,835 | 646,289,599 |
Total retained earnings | 880,758,264 | 840,618,759 | 769,022,523 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | -72,125,368 | -56,320,437 | -50,605,814 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | 15,065,784 | 0 | 0 |
Unrealized gains (losses) on available-for-sale financial assets | 0 | 28,781,127 | 82,571,508 |
Total other equity interest | -57,059,584 | -27,539,310 | 31,965,694 |
Treasury shares | 15,194 | 18,901 | 18,901 |
Total equity attributable to owners of parent | 1,150,879,547 | 1,084,220,815 | 1,069,962,720 |
Non-controlling interests | 117,630,709 | 87,571,640 | 86,674,888 |
Total equity | 1,268,510,256 | 1,171,792,455 | 1,156,637,608 |
Total liabilities and equity | 3,436,815,362 | 3,407,216,613 | 2,762,654,636 |
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 | 1,483,078 | 1,853,848 | 1,853,848 |
Income Statement
Accounting Title | 2018/3rd | 2017/3rd | 2018/01/01To2018/09/30 | 2017/01/01To2017/09/30 |
Operating revenue | ||||
Total operating revenue | 1,375,839,799 | 1,078,891,633 | 3,483,904,827 | 2,976,347,954 |
Operating costs | ||||
Total operating costs | 1,295,035,890 | 1,015,949,316 | 3,278,633,608 | 2,778,906,598 |
Gross profit (loss) from operations | 80,803,909 | 62,942,317 | 205,271,219 | 197,441,356 |
Gross profit (loss) from operations | 80,803,909 | 62,942,317 | 205,271,219 | 197,441,356 |
Operating expenses | ||||
Selling expenses | 8,658,563 | 6,494,720 | 24,459,467 | 18,076,448 |
Administrative expenses | 20,405,697 | 19,444,211 | 55,173,358 | 53,163,318 |
Research and development expenses | 20,372,998 | 18,287,442 | 53,771,793 | 46,044,526 |
Total operating expenses | 49,437,258 | 44,226,373 | 133,404,618 | 117,284,292 |
Net operating income (loss) | 31,366,651 | 18,715,944 | 71,866,601 | 80,157,064 |
Non-operating income and expenses | ||||
Other income | ||||
Total other income | 21,411,461 | 14,545,638 | 49,014,790 | 38,724,820 |
Other gains and losses | ||||
Other gains and losses, net | -8,686,422 | -1,559,511 | 558,426 | -10,473,863 |
Finance costs | ||||
Finance costs, net | 14,787,785 | 10,398,374 | 37,213,704 | 27,148,768 |
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 | 5,029,954 | 3,843,075 | 10,900,382 | 5,977,372 |
Total non-operating income and expenses | 2,967,208 | 6,430,828 | 23,259,894 | 7,079,561 |
Profit (loss) from continuing operations before tax | 34,333,859 | 25,146,772 | 95,126,495 | 87,236,625 |
Tax expense (income) | ||||
Total tax expense (income) | 9,781,908 | 5,481,622 | 29,183,834 | 23,445,253 |
Profit (loss) from continuing operations | 24,551,951 | 19,665,150 | 65,942,661 | 63,791,372 |
Profit (loss) | 24,551,951 | 19,665,150 | 65,942,661 | 63,791,372 |
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 | 2,735,041 | 0 | -2,194,623 | 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 | -1,694,091 | 0 | -6,119,951 | 0 |
Components of other comprehensive income that will not be reclassified to profit or loss | 1,040,950 | 0 | -8,314,574 | 0 |
Components of other comprehensive income that will be reclassified to profit or loss | ||||
Exchange differences on translation | -32,959,202 | 7,199,091 | -17,400,822 | -37,589,253 |
Unrealised gains (losses) on valuation of available-for-sale financial assets | 0 | -13,530,434 | 0 | 47,508,317 |
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 | -1,676,624 | -7,951,463 | -2,225,559 | -1,074,334 |
Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 0 | -3,540,050 | 0 | 4,711,135 |
Components of other comprehensive income that will be reclassified to profit or loss | -34,635,826 | -10,742,756 | -19,626,381 | 4,133,595 |
Other comprehensive income, net | -33,594,876 | -10,742,756 | -27,940,955 | 4,133,595 |
Total comprehensive income | -9,042,925 | 8,922,394 | 38,001,706 | 67,924,967 |
Profit (loss), attributable to: | ||||
Profit (loss), attributable to owners of parent | 24,875,846 | 21,028,838 | 66,446,436 | 67,075,811 |
Profit (loss), attributable to non-controlling interests | -323,895 | -1,363,688 | -503,775 | -3,284,439 |
Comprehensive income attributable to: | ||||
Comprehensive income, attributable to owners of parent | -4,947,108 | 6,080,064 | 42,532,936 | 66,533,238 |
Comprehensive income, attributable to non-controlling interests | -4,095,817 | 2,842,330 | -4,531,230 | 1,391,729 |
Basic earnings per share | ||||
Basic earnings (loss) per share from continuing operations | 1.57 | 1.21 | 3.95 | 3.87 |
Total basic earnings per share | 1.57 | 1.21 | 3.95 | 3.87 |
Diluted earnings per share | ||||
Diluted earnings (loss) per share from continuing operations | 1.56 | 1.21 | 3.93 | 3.86 |
Total diluted earnings per share | 1.56 | 1.21 | 3.93 | 3.86 |
Statements of Cash Flows
Accounting Title | 2018/01/01To2018/09/30 | 2017/01/01To2017/09/30 |
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 95,126,495 | 87,236,625 |
Profit (loss) before tax | 95,126,495 | 87,236,625 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 42,023,817 | 43,252,555 |
Amortization expense | 980,536 | 942,586 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 1,065,876 | 95,738 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | -12,360,729 | 14,143,231 |
Interest expense | 36,752,255 | 27,035,741 |
Interest income | -39,330,350 | -33,029,043 |
Dividend income | -1,346,660 | -1,071,704 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | -10,900,382 | -5,977,372 |
Loss (gain) on disposal of property, plan and equipment | 32,387 | -31,989 |
Loss (gain) on disposal of investments | 30,069 | -776,034 |
Impairment loss on financial assets | 8,339 | 5,048,957 |
Total adjustments to reconcile profit (loss) | 16,955,158 | 49,632,666 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Decrease (increase) in financial assets held for trading | 0 | -12,802,895 |
Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | 8,051,954 | 0 |
Decrease (increase) in notes receivable | -671,823 | 316,924 |
Decrease (increase) in accounts receivable | 157,994,533 | 65,726,304 |
Decrease (increase) in accounts receivable due from related parties | 38,156,489 | -27,386,313 |
Decrease (increase) in other receivable | 3,706,849 | -17,534,306 |
Decrease (increase) in inventories | -158,684,583 | -132,198,498 |
Decrease (increase) in prepayments | 2,769,649 | -1,215,618 |
Total changes in operating assets | 51,323,068 | -125,094,402 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -154,550,550 | 6,814,326 |
Increase (decrease) in accounts payable to related parties | -51,880,247 | 34,376,065 |
Increase (decrease) in other payable | -26,897,140 | -820,646 |
Increase (decrease) in provisions | 1,583,047 | 1,223,096 |
Increase (decrease) in other current liabilities | -5,029,715 | -452,731 |
Increase (decrease) in net defined benefit liability | 2,656 | -81,261 |
Total changes in operating liabilities | -236,771,949 | 41,058,849 |
Total changes in operating assets and liabilities | -185,448,881 | -84,035,553 |
Total adjustments | -168,493,723 | -34,402,887 |
Cash inflow (outflow) generated from operations | -73,367,228 | 52,833,738 |
Income taxes refund (paid) | -36,966,324 | -32,461,650 |
Net cash flows from (used in) operating activities | -110,333,552 | 20,372,088 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -7,471,585 | 0 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 270,861 | 0 |
Acquisition of financial assets at amortised cost | -19,032,495 | 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 | -4,313,835 | -1,389,650 |
Proceeds from disposal of financial assets designated at fair value through profit or loss | 112,953 | 0 |
Acquisition of available-for-sale financial assets | 0 | -157,352 |
Proceeds from disposal of available-for-sale financial assets | 0 | 862,226 |
Acquisition of financial assets at cost | 0 | -22,025,289 |
Proceeds from disposal of financial assets at cost | 0 | 228,571 |
Acquisition of investments accounted for using equity method | -4,569,967 | -570,702 |
Net cash flow from acquisition of subsidiaries | -25,839,618 | 0 |
Proceeds from capital reduction of investments accounted for using equity method | 0 | 791,383 |
Acquisition of property, plant and equipment | -47,754,841 | -36,569,773 |
Proceeds from disposal of property, plant and equipment | 18,366,021 | 2,422,218 |
Decrease in other receivables due from related parties | 33,914,580 | 224,181 |
Increase in other financial assets | 0 | -29,564,014 |
Increase in other non-current assets | -1,135,512 | -1,049,429 |
Increase in other prepayments | -25,018 | -508,314 |
Interest received | 37,993,632 | 32,576,387 |
Dividends received | 4,091,627 | 4,185,108 |
Other investing activities | 0 | -262,511 |
Net cash flows from (used in) investing activities | -14,013,347 | -50,806,960 |
Cash flows from (used in) financing activities | ||
Increase in short-term loans | 150,686,401 | 133,150,313 |
Decrease in short-term notes and bills payable | -10,060,269 | -6,223,622 |
Proceeds from issuing bonds | 19,500,000 | 31,465,700 |
Repayments of bonds | -32,801,099 | -30,818,500 |
Proceeds from long-term debt | 19,739,333 | 4,849,199 |
Repayments of long-term debt | -10,113,487 | -9,040,082 |
Increase in other non-current liabilities | 381,855 | 645,385 |
Cash dividends paid | -34,657,477 | -77,979,322 |
Interest paid | -32,412,697 | -26,052,980 |
Change in non-controlling interests | -365,365 | 11,306,156 |
Other financing activities | 122,882,261 | 0 |
Net cash flows from (used in) financing activities | 192,779,456 | 31,302,247 |
Effect of exchange rate changes on cash and cash equivalents | -16,479,778 | -20,865,104 |
Net increase (decrease) in cash and cash equivalents | 51,952,779 | -19,997,729 |
Cash and cash equivalents at beginning of period | 642,496,059 | 633,155,301 |
Cash and cash equivalents at end of period | 694,448,838 | 613,157,572 |
Cash and cash equivalents reported in the statement of financial position | 694,448,838 | 613,157,572 |
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 | 420,538 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 420,538 | 0 | 420,538 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 66,446,436 | 66,446,436 | 0 | 0 | 0 | 0 | 0 | 66,446,436 | -503,775 | 65,942,661 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -15,804,931 | -8,108,569 | 0 | -23,913,500 | 0 | -23,913,500 | -4,027,455 | -27,940,955 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 66,446,436 | 66,446,436 | -15,804,931 | -8,108,569 | 0 | -23,913,500 | 0 | 42,532,936 | -4,531,230 | 38,001,706 |
Capital reduction | -34,657,477 | -34,657,477 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,707 | -34,653,770 | 0 | -34,653,770 |
Changes in ownership interests in subsidiaries | 0 | 0 | 90,272,733 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 90,272,733 | -365,365 | 89,907,368 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35,252,892 | 35,252,892 |
Disposal of investments in equity instruments designated at fair value through other comprehensive income | 0 | 0 | 0 | 0 | 0 | 1,040,880 | 1,040,880 | 0 | 0 | 0 | 0 | 0 | 1,040,880 | 0 | 1,040,880 |
Increase (decrease) in equity | -34,657,477 | -34,657,477 | 90,693,271 | 13,873,440 | 27,539,310 | -8,582,911 | 32,829,839 | -15,804,931 | -8,108,569 | 0 | -23,913,500 | 3,707 | 64,955,840 | 30,356,297 | 95,312,137 |
Equity | 138,629,906 | 138,629,906 | 188,566,155 | 136,606,364 | 27,539,310 | 716,612,590 | 880,758,264 | -72,125,368 | 15,065,784 | 0 | -57,059,584 | -15,194 | 1,150,879,547 | 117,630,709 | 1,268,510,256 |