Last checked at 1 Apr 2019 13:05
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2018 4th IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2018/12/31 | 2017/12/31 |
Balance Sheet | ||
Assets | ||
Current assets | ||
Cash and cash equivalents | 788,662,325 | 642,496,059 |
Current financial assets at fair value through profit or loss | 5,016,365 | 7,009,541 |
Current available-for-sale financial assets | 0 | 290 |
Current financial assets at amortised cost | 78,944,139 | 0 |
Accounts receivable, net | 1,009,364,152 | 1,150,428,069 |
Accounts receivable due from related parties, net | 48,172,268 | 80,066,388 |
Other receivables | 73,996,367 | 67,700,725 |
Other receivables due from related parties | 57,705,076 | 82,627,493 |
Current inventories | 625,025,794 | 560,954,855 |
Prepayments | 19,596,260 | 20,328,111 |
Other current assets | 0 | 134,524,586 |
Total current assets | 2,706,482,746 | 2,746,136,117 |
Non-current assets | ||
Non-current financial assets at fair value through profit or loss | 74,887,490 | 3,040,601 |
Non-current financial assets at fair value through other comprehensive income | 66,634,395 | 0 |
Non-current available-for-sale financial assets | 0 | 70,868,132 |
Non-current financial assets at amortised cost | 16,240,740 | 0 |
Non-current financial assets at cost | 0 | 49,861,639 |
Non-current investments in debt instrument without active market | 0 | 4,571,100 |
Investments accounted for using equity method | 160,316,664 | 151,000,283 |
Property, plant and equipment | 277,860,012 | 278,204,005 |
Investment property, net | 2,523,963 | 2,422,523 |
Intangible assets | 30,357,025 | 9,552,444 |
Deferred tax assets | 16,229,304 | 15,048,377 |
Other non-current assets | 29,823,088 | 76,511,392 |
Total non-current assets | 674,872,681 | 661,080,496 |
Total assets | 3,381,355,427 | 3,407,216,613 |
Liabilities and equity | ||
Liabilities | ||
Current liabilities | ||
Current borrowings | 532,315,377 | 418,835,146 |
Short-term notes and bills payable | 19,283,228 | 10,960,269 |
Current financial liabilities at fair value through profit or loss | 651,426 | 6,486,348 |
Accounts payable | 905,682,505 | 1,119,169,644 |
Accounts payable to related parties | 42,340,749 | 97,315,119 |
Other payables | 228,985,231 | 255,696,126 |
Current tax liabilities | 36,400,157 | 38,439,140 |
Current provisions | 5,652,147 | 4,796,498 |
Other current liabilities | 38,550,736 | 73,803,977 |
Total current liabilities | 1,809,861,556 | 2,025,502,267 |
Non-current liabilities | ||
Non-current financial liabilities at fair value through profit or loss | 22,835 | 0 |
Bonds payable | 178,794,577 | 168,495,189 |
Non-current portion of non-current borrowings | 36,483,791 | 19,984,818 |
Deferred tax liabilities | 14,649,508 | 12,541,548 |
Other non-current liabilities | 9,109,272 | 8,900,336 |
Total non-current liabilities | 239,059,983 | 209,921,891 |
Total liabilities | 2,048,921,539 | 2,235,424,158 |
Equity | ||
Equity attributable to owners of parent | ||
Share capital | ||
Ordinary share | 138,629,906 | 173,287,383 |
Total capital stock | 138,629,906 | 173,287,383 |
Capital surplus | ||
Capital surplus, additional paid-in capital | 88,501,031 | 88,501,031 |
Capital Surplus, changes in ownership interests in subsidiaries | 88,873,887 | 3,300,393 |
Capital surplus, donated assets received | 0 | 0 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 11,544,285 | 4,972,207 |
Capital surplus, employee share options | 0 | 0 |
Capital surplus, share options | 1,099,253 | 1,099,253 |
Capital Surplus, restricted stock | 0 | 0 |
Capital surplus, others | 0 | 0 |
Total capital surplus | 190,018,456 | 97,872,884 |
Retained earnings | ||
Legal reserve | 136,606,364 | 122,732,924 |
Special reserve | 27,539,310 | 0 |
Unappropriated retained earnings (accumulated deficit) | 779,409,554 | 717,885,835 |
Total retained earnings | 943,555,228 | 840,618,759 |
Other equity interest | ||
Exchange differences on translation of foreign financial statements | -65,399,183 | -56,320,437 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | 5,089,256 | 0 |
Unrealized gains (losses) on available-for-sale financial assets | 0 | 28,781,127 |
Other equity, others | 0 | 0 |
Total other equity interest | -60,309,927 | -27,539,310 |
Treasury shares | 15,194 | 18,901 |
Total equity attributable to owners of parent | 1,211,878,469 | 1,084,220,815 |
Non-controlling interests | 120,555,419 | 87,571,640 |
Total equity | 1,332,433,888 | 1,171,792,455 |
Total liabilities and equity | 3,381,355,427 | 3,407,216,613 |
Number of share capital awaiting retirement | 0 | 0 |
Equivalent issue shares of advance receipts for ordinary share | 0 | 0 |
Number of shares in entity held by entity and by its subsidiaries | 1,483,078 | 1,853,848 |
Income Statement
Accounting Title | 2018/4th | 2017/4th |
Statement of comprehensive income | ||
Operating revenue | ||
Total operating revenue | 5,293,803,022 | 4,706,736,096 |
Operating costs | ||
Total operating costs | 4,961,773,118 | 4,403,729,149 |
Gross profit (loss) from operations | 332,029,904 | 303,006,947 |
Gross profit (loss) from operations | 332,029,904 | 303,006,947 |
Operating expenses | ||
Selling expenses | 32,690,093 | 29,501,197 |
Administrative expenses | 78,762,853 | 79,154,165 |
Research and development expenses | 84,430,083 | 81,781,154 |
Total operating expenses | 195,883,029 | 190,436,516 |
Net operating income (loss) | 136,146,875 | 112,570,431 |
Non-operating income and expenses | ||
Other income | ||
Total other income | 74,415,499 | 52,830,252 |
Other gains and losses | ||
Other gains and losses, net | -997,809 | 45,649,591 |
Finance costs | ||
Finance costs, net | 55,544,836 | 38,994,404 |
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 | 16,231,713 | 10,816,753 |
Total non-operating income and expenses | 34,104,567 | 70,302,192 |
Profit (loss) from continuing operations before tax | 170,251,442 | 182,872,623 |
Tax expense (income) | ||
Total tax expense (income) | 40,416,017 | 47,498,095 |
Profit (loss) from continuing operations | 129,835,425 | 135,374,528 |
Profit (loss) | 129,835,425 | 135,374,528 |
Other comprehensive income | ||
Components of other comprehensive income that will not be reclassified to profit or loss | ||
Gains (losses) on remeasurements of defined benefit plans | 217,476 | -54,572 |
Unrealised gains (losses) from investments in equity instruments measured at fair value through other comprehensive income | -4,687,419 | 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 | -12,700,347 | 0 |
Income tax related to components of other comprehensive income that will not be reclassified to profit or loss | 43,495 | -9,277 |
Components of other comprehensive income that will not be reclassified to profit or loss | -17,213,785 | -45,295 |
Components of other comprehensive income that will be reclassified to profit or loss | ||
Exchange differences on translation | -11,603,077 | -47,527,350 |
Unrealised gains (losses) on valuation of available-for-sale financial assets | 0 | -19,885,300 |
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 | -121,619 | 4,873,253 |
Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 0 | -6,192,134 |
Components of other comprehensive income that will be reclassified to profit or loss | -11,724,696 | -56,347,263 |
Other comprehensive income, net | -28,938,481 | -56,392,558 |
Total comprehensive income | 100,896,944 | 78,981,970 |
Profit (loss), attributable to: | ||
Profit (loss), attributable to owners of parent | 129,065,105 | 138,734,401 |
Profit (loss), attributable to non-controlling interests | 770,320 | -3,359,873 |
Comprehensive income attributable to: | ||
Comprehensive income, attributable to owners of parent | 103,120,437 | 78,641,529 |
Comprehensive income, attributable to non-controlling interests | -2,223,493 | 340,441 |
Basic earnings per share | ||
Basic earnings (loss) per share from continuing operations | 8.03 | 8.01 |
Total basic earnings per share | 8.03 | 8.01 |
Diluted earnings per share | ||
Diluted earnings (loss) per share from continuing operations | 7.95 | 7.91 |
Total diluted earnings per share | 7.95 | 7.91 |
Statements of Cash Flows
Accounting Title | 2018/4th | 2017/4th |
Statement of cash flows | ||
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 170,251,442 | 182,872,623 |
Profit (loss) before tax | 170,251,442 | 182,872,623 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 58,210,706 | 59,736,585 |
Amortization expense | 1,715,151 | 1,263,825 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 195,147 | 2,056,114 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | -12,202,000 | 21,402,244 |
Interest expense | 54,978,871 | 38,742,136 |
Interest income | -60,400,627 | -46,305,757 |
Dividend income | -3,543,981 | -1,202,077 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | -16,231,713 | -10,816,753 |
Loss (gain) on disposal of property, plan and equipment | 824,918 | 22,420 |
Loss (gain) on disposal of investments | -1,666,502 | -66,182,488 |
Impairment loss on financial assets | 2,535,426 | 6,542,022 |
Impairment loss on non-financial assets | 2,589,522 | 0 |
Total adjustments to reconcile profit (loss) | 27,004,918 | 5,258,271 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Decrease (increase) in financial assets held for trading | 0 | -6,191,988 |
Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | -2,011,528 | 0 |
Decrease (increase) in notes receivable | -302,417 | 33,912 |
Decrease (increase) in accounts receivable | 143,814,705 | -449,242,401 |
Decrease (increase) in accounts receivable due from related parties | 31,879,664 | -51,527,913 |
Decrease (increase) in other receivable | 2,888,426 | -30,688,932 |
Decrease (increase) in inventories | -58,738,438 | -173,680,794 |
Decrease (increase) in prepayments | 731,851 | -7,242,608 |
Total changes in operating assets | 118,262,263 | -718,540,724 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -220,012,620 | 440,114,387 |
Increase (decrease) in accounts payable to related parties | -54,974,370 | 66,707,190 |
Increase (decrease) in other payable | -37,530,727 | 24,668,730 |
Increase (decrease) in provisions | 855,649 | 1,813,462 |
Increase (decrease) in other current liabilities | -1,747,794 | -2,164,466 |
Increase (decrease) in net defined benefit liability | -123,752 | -26,561 |
Total changes in operating liabilities | -313,533,614 | 531,112,742 |
Total changes in operating assets and liabilities | -195,271,351 | -187,427,982 |
Total adjustments | -168,266,433 | -182,169,711 |
Cash inflow (outflow) generated from operations | 1,985,009 | 702,912 |
Income taxes refund (paid) | -42,141,231 | -40,044,225 |
Net cash flows from (used in) operating activities | -40,156,222 | -39,341,313 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -7,514,778 | 0 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 2,794,477 | 0 |
Acquisition of financial assets at amortised cost | -14,312,960 | 0 |
Proceeds from disposal of financial assets at amortised cost | 55,580,447 | 0 |
Proceeds from repayments of financial assets at amortised cost | 1,379,850 | 0 |
Acquisition of financial assets at fair value through profit or loss | -4,405,425 | -10,679,250 |
Proceeds from disposal of financial assets at fair value through profit or loss | 112,953 | 0 |
Acquisition of available-for-sale financial assets | 0 | -154,752 |
Proceeds from disposal of available-for-sale financial assets | 0 | 4,232,224 |
Acquisition of investments in debt instrument without active market | 0 | -4,571,100 |
Acquisition of financial assets at cost | 0 | -26,843,966 |
Proceeds from disposal of financial assets at cost | 0 | 1,354,203 |
Acquisition of investments accounted for using equity method | -3,937,967 | -731,379 |
Net cash flow from acquisition of subsidiaries | -26,112,000 | 0 |
Proceeds from capital reduction of investments accounted for using equity method | 0 | 964,799 |
Acquisition of property, plant and equipment | -65,532,812 | -60,384,846 |
Proceeds from disposal of property, plant and equipment | 27,883,428 | 9,994,734 |
Decrease in other receivables due from related parties | 44,992,310 | 330,498 |
Increase in other financial assets | 0 | -27,776,193 |
Increase in other non-current assets | -167,081 | 0 |
Decrease in other non-current assets | 0 | 757,069 |
Increase in other prepayments | 0 | -545,816 |
Decrease in other prepayments | 241,377 | 0 |
Interest received | 54,451,751 | 43,690,301 |
Dividends received | 6,290,869 | 5,464,796 |
Other investing activities | -312,983 | -92,074 |
Net cash flows from (used in) investing activities | 71,431,456 | -64,990,752 |
Cash flows from (used in) financing activities | ||
Increase in short-term loans | 113,480,231 | 247,363,003 |
Increase in short-term notes and bills payable | 8,340,928 | 0 |
Decrease in short-term notes and bills payable | 0 | -5,030,000 |
Proceeds from issuing bonds | 19,500,000 | 54,202,207 |
Repayments of bonds | -38,617,729 | -58,589,080 |
Proceeds from long-term debt | 17,585,680 | 12,896,069 |
Repayments of long-term debt | -7,440,627 | -9,159,975 |
Increase in other non-current liabilities | 645,671 | 367,786 |
Cash dividends paid | -34,657,477 | -77,979,322 |
Capital reduction payments to shareholders | -34,653,770 | 0 |
Interest paid | -48,346,530 | -34,839,842 |
Change in non-controlling interests | 251,608 | 17,009,053 |
Other financing activities | 122,882,261 | 0 |
Net cash flows from (used in) financing activities | 118,970,246 | 146,239,899 |
Effect of exchange rate changes on cash and cash equivalents | -4,079,214 | -32,567,076 |
Net increase (decrease) in cash and cash equivalents | 146,166,266 | 9,340,758 |
Cash and cash equivalents at beginning of period | 642,496,059 | 633,155,301 |
Cash and cash equivalents at end of period | 788,662,325 | 642,496,059 |
Cash and cash equivalents reported in the statement of financial position | 788,662,325 | 642,496,059 |
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 | 6,572,078 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,572,078 | 0 | 6,572,078 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 129,065,105 | 129,065,105 | 0 | 0 | 0 | 0 | 0 | 129,065,105 | 770,320 | 129,835,425 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 173,981 | 173,981 | -9,078,746 | -17,039,903 | 0 | -26,118,649 | 0 | -25,944,668 | -2,993,813 | -28,938,481 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 129,239,086 | 129,239,086 | -9,078,746 | -17,039,903 | 0 | -26,118,649 | 0 | 103,120,437 | -2,223,493 | 100,896,944 |
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 | 85,573,494 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85,573,494 | 251,608 | 85,825,102 |
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 | 1,045,194 | 1,045,194 | 0 | -1,045,194 | 0 | -1,045,194 | 0 | 0 | 0 | 0 |
Increase (decrease) in equity | -34,657,477 | -34,657,477 | 92,145,572 | 13,873,440 | 27,539,310 | 54,214,053 | 95,626,803 | -9,078,746 | -18,085,097 | 0 | -27,163,843 | 3,707 | 125,954,762 | 33,281,007 | 159,235,769 |