Last checked at 12 Aug 2020 13:06
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2020 2nd IFRSs Consolidated Financial Statements
Unit: NT$ thousand
Balance Sheet
Accounting Title | 2020/06/30 | 2019/12/31 | 2019/06/30 |
Assets | |||
Current assets | |||
Cash and cash equivalents | 953,161,485 | 857,864,362 | 816,868,213 |
Current financial assets at fair value through profit or loss | 1,225,746 | 2,952,049 | 1,837,706 |
Current financial assets at amortised cost | 51,665,513 | 52,954,877 | 115,546,638 |
Accounts receivable, net | 722,108,923 | 987,278,438 | 717,676,379 |
Accounts receivable due from related parties, net | 32,908,483 | 44,754,604 | 44,792,788 |
Other receivables | 52,906,729 | 67,854,299 | 71,058,559 |
Other receivables due from related parties | 10,318,787 | 24,366,543 | 37,932,331 |
Current inventories | 504,872,238 | 515,772,177 | 571,193,830 |
Prepayments | 18,657,789 | 19,895,574 | 20,166,066 |
Total current assets | 2,347,825,693 | 2,573,692,923 | 2,397,072,510 |
Non-current assets | |||
Non-current financial assets at fair value through profit or loss | 90,285,191 | 82,660,725 | 78,674,006 |
Non-current financial assets at fair value through other comprehensive income | 65,485,674 | 68,807,217 | 70,377,247 |
Non-current financial assets at amortised cost | 15,217,128 | 12,528,569 | 14,491,760 |
Investments accounted for using equity method | 158,702,923 | 168,631,642 | 166,842,468 |
Property, plant and equipment | 269,882,577 | 287,523,253 | 281,459,480 |
Right-of-use assets | 46,665,541 | 46,760,340 | 42,366,227 |
Investment property, net | 10,485,611 | 4,419,912 | 4,823,231 |
Intangible assets | 40,627,171 | 41,380,353 | 30,189,585 |
Deferred tax assets | 23,414,820 | 18,701,465 | 19,525,906 |
Other non-current assets | 15,301,979 | 15,835,299 | 8,776,204 |
Total non-current assets | 736,068,615 | 747,248,775 | 717,526,114 |
Total assets | 3,083,894,308 | 3,320,941,698 | 3,114,598,624 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Current borrowings | 415,824,358 | 380,866,050 | 388,170,240 |
Short-term notes and bills payable | 41,071,452 | 30,528,296 | 31,073,111 |
Current financial liabilities at fair value through profit or loss | 1,424,681 | 1,881,685 | 1,279,540 |
Accounts payable | 648,806,176 | 870,678,994 | 668,572,345 |
Accounts payable to related parties | 19,927,481 | 35,509,127 | 34,124,266 |
Other payables | 245,541,777 | 217,732,729 | 264,429,108 |
Current tax liabilities | 11,506,054 | 18,531,289 | 18,194,317 |
Current provisions | 2,527,551 | 2,725,293 | 3,936,902 |
Current lease liabilities | 8,572,170 | 7,131,038 | 5,744,076 |
Other current liabilities | 92,815,006 | 91,876,860 | 52,779,852 |
Total current liabilities | 1,488,016,706 | 1,657,461,361 | 1,468,303,757 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | 2,250 | 0 | 11,100 |
Bonds payable | 178,431,065 | 175,505,344 | 197,885,404 |
Non-current portion of non-current borrowings | 40,731,361 | 41,576,252 | 52,148,216 |
Non-current provisions | 377,714 | 369,953 | 0 |
Deferred tax liabilities | 22,583,014 | 18,261,509 | 21,567,566 |
Non-current lease liabilities | 20,915,904 | 20,875,343 | 17,296,221 |
Other non-current liabilities | 7,115,728 | 7,266,519 | 7,028,103 |
Total non-current liabilities | 270,157,036 | 263,854,920 | 295,936,610 |
Total liabilities | 1,758,173,742 | 1,921,316,281 | 1,764,240,367 |
Equity | |||
Equity attributable to owners of parent | |||
Share capital | |||
Ordinary share | 138,629,906 | 138,629,906 | 138,629,906 |
Total Share Capital | 138,629,906 | 138,629,906 | 138,629,906 |
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 | 0 | 0 | 0 |
Capital Surplus, changes in ownership interests in subsidiaries | 101,873,991 | 99,189,558 | 93,886,455 |
Capital surplus, donated assets received | 0 | 0 | 0 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 10,257,767 | 10,593,529 | 11,071,179 |
Capital surplus, employee share options | 0 | 0 | 0 |
Capital surplus, share options | 1,099,253 | 1,099,253 | 1,099,253 |
Capital Surplus, restricted stock | 0 | 0 | 0 |
Capital surplus, others | 0 | 0 | 0 |
Total capital surplus | 201,732,042 | 199,383,371 | 194,557,918 |
Retained earnings | |||
Legal reserve | 161,043,748 | 149,512,874 | 149,512,874 |
Special reserve | 102,451,720 | 60,309,927 | 60,309,927 |
Unappropriated retained earnings (accumulated deficit) | 708,370,677 | 794,615,182 | 715,121,148 |
Total retained earnings | 971,866,145 | 1,004,437,983 | 924,943,949 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | -150,973,128 | -113,889,466 | -49,412,698 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | 8,378,235 | 11,437,746 | 7,828,873 |
Total other equity interest | -142,594,893 | -102,451,720 | -41,583,825 |
Treasury shares | 15,194 | 15,194 | 15,194 |
Total equity attributable to owners of parent | 1,169,618,006 | 1,239,984,346 | 1,216,532,754 |
Non-controlling interests | 156,102,560 | 159,641,071 | 133,825,503 |
Total equity | 1,325,720,566 | 1,399,625,417 | 1,350,358,257 |
Total liabilities and equity | 3,083,894,308 | 3,320,941,698 | 3,114,598,624 |
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 | 1,483,078 | 1,483,078 |
Income Statement
Accounting Title | 2020/01/01To2020/06/30 | 2019/01/01To2019/06/30 |
Operating revenue | ||
Total operating revenue | 2,057,470,029 | 2,214,086,625 |
Operating costs | ||
Total operating costs | 1,949,025,405 | 2,094,177,749 |
Gross profit (loss) from operations | 108,444,624 | 119,908,876 |
Gross profit (loss) from operations | 108,444,624 | 119,908,876 |
Operating expenses | ||
Selling expenses | 10,821,163 | 14,462,628 |
Administrative expenses | 32,079,517 | 36,368,546 |
Research and development expenses | 38,550,173 | 37,420,040 |
Total operating expenses | 81,450,853 | 88,251,214 |
Net operating income (loss) | 26,993,771 | 31,657,662 |
Non-operating income and expenses | ||
Interest income | ||
Total interest income | 27,619,345 | 36,006,006 |
Other income | ||
Total other income | 3,565,782 | 4,225,975 |
Other gains and losses | ||
Other gains and losses, net | 5,137,380 | 8,215,228 |
Finance costs | ||
Finance costs, net | 23,256,905 | 30,632,414 |
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 | 706,946 | 9,564,173 |
Total non-operating income and expenses | 13,772,548 | 27,378,968 |
Profit (loss) from continuing operations before tax | 40,766,319 | 59,036,630 |
Tax expense (income) | ||
Total tax expense (income) | 13,217,842 | 16,845,823 |
Profit (loss) from continuing operations | 27,548,477 | 42,190,807 |
Profit (loss) | 27,548,477 | 42,190,807 |
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 | 692,829 | 2,665,130 |
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 | -3,558,208 | 299,019 |
Components of other comprehensive income that will not be reclassified to profit or loss | -2,865,379 | 2,964,149 |
Components of other comprehensive income that will be reclassified to profit or loss | ||
Exchange differences on translation | -38,513,051 | 14,538,678 |
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 | -1,887,169 | 2,589,025 |
Components of other comprehensive income that will be reclassified to profit or loss | -40,400,220 | 17,127,703 |
Other comprehensive income, net | -43,265,599 | 20,091,852 |
Total comprehensive income | -15,717,122 | 62,282,659 |
Profit (loss), attributable to: | ||
Profit (loss), attributable to owners of parent | 24,964,263 | 36,878,567 |
Profit (loss), attributable to non-controlling interests | 2,584,214 | 5,312,240 |
Comprehensive income attributable to: | ||
Comprehensive income, attributable to owners of parent | -14,478,269 | 55,702,717 |
Comprehensive income, attributable to non-controlling interests | -1,238,853 | 6,579,942 |
Basic earnings per share | ||
Basic earnings (loss) per share from continuing operations | 1.80 | 2.66 |
Total basic earnings per share | 1.80 | 2.66 |
Diluted earnings per share | ||
Diluted earnings (loss) per share from continuing operations | 1.80 | 2.65 |
Total diluted earnings per share | 1.80 | 2.65 |
Statements of Cash Flows
Accounting Title | 2020/01/01To2020/06/30 | 2019/01/01To2019/06/30 |
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 40,766,319 | 59,036,630 |
Profit (loss) before tax | 40,766,319 | 59,036,630 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 30,269,125 | 30,571,301 |
Amortization expense | 2,155,612 | 742,959 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 1,622,496 | 748,046 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | -2,803,432 | -14,465,133 |
Interest expense | 22,768,171 | 29,972,750 |
Interest income | -27,619,345 | -36,006,006 |
Dividend income | -1,179,358 | -1,218,062 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | -706,946 | -9,564,173 |
Loss (gain) on disposal of property, plan and equipment | -31,783 | 500,708 |
Loss (gain) on disposal of investments | 577 | 0 |
Impairment loss on financial assets | 0 | 157,082 |
Total adjustments to reconcile profit (loss) | 24,475,117 | 1,439,472 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | 90,446 | 8,785,879 |
Decrease (increase) in notes receivable | 103,096 | 137,154 |
Decrease (increase) in accounts receivable | 263,795,606 | 290,788,116 |
Decrease (increase) in accounts receivable due from related parties | 13,296,901 | 3,380,499 |
Decrease (increase) in other receivable | 1,513,682 | -1,440,520 |
Decrease (increase) in inventories | 10,899,939 | 54,682,445 |
Decrease (increase) in prepayments | 1,237,785 | -569,806 |
Total changes in operating assets | 290,937,455 | 355,763,767 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -222,448,920 | -237,110,160 |
Increase (decrease) in accounts payable to related parties | -15,581,646 | -8,216,483 |
Increase (decrease) in other payable | -10,910,431 | -9,474,927 |
Increase (decrease) in provisions | -189,981 | -1,715,245 |
Increase (decrease) in other current liabilities | 8,913,908 | 3,516,223 |
Increase (decrease) in net defined benefit liability | -29,835 | -27,218 |
Total changes in operating liabilities | -240,246,905 | -253,027,810 |
Total changes in operating assets and liabilities | 50,690,550 | 102,735,957 |
Total adjustments | 75,165,667 | 104,175,429 |
Cash inflow (outflow) generated from operations | 115,931,986 | 163,212,059 |
Income taxes refund (paid) | -20,634,927 | -31,430,207 |
Net cash flows from (used in) operating activities | 95,297,059 | 131,781,852 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -460,886 | -1,099,229 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 138,948 | 87,906 |
Acquisition of financial assets at amortised cost | -3,040,432 | -36,051,809 |
Proceeds from repayments of financial assets at amortised cost | 1,279,800 | 1,369,020 |
Acquisition of financial assets at fair value through profit or loss | -5,029,139 | -6,902,388 |
Proceeds from disposal of financial assets at fair value through profit or loss | 1,389,208 | 12,590,164 |
Acquisition of investments accounted for using equity method | -181,641 | -1,185,298 |
Proceeds from disposal of investments accounted for using equity method | 68,050 | 0 |
Net cash flow from acquisition of subsidiaries | -1,141,675 | -3,286,252 |
Acquisition of property, plant and equipment | -32,119,243 | -38,389,675 |
Proceeds from disposal of property, plant and equipment | 2,451,356 | 1,644,531 |
Decrease in other receivables due from related parties | 15,507,298 | 22,227,538 |
Acquisition of intangible assets | -571,356 | 0 |
Acquisition of use-of-right assets | -981,967 | -262,375 |
Decrease in other prepayments | 169,433 | 291,379 |
Interest received | 39,322,140 | 36,816,485 |
Dividends received | 2,260,839 | 2,495,468 |
Other investing activities | -190,712 | -83,867 |
Net cash flows from (used in) investing activities | 18,870,021 | -9,738,402 |
Cash flows from (used in) financing activities | ||
Increase in short-term loans | 34,958,308 | 0 |
Decrease in short-term loans | 0 | -144,145,137 |
Increase in short-term notes and bills payable | 10,560,095 | 11,898,755 |
Proceeds from issuing bonds | 12,800,000 | 31,060,000 |
Repayments of bonds | -12,900,000 | -3,900,000 |
Proceeds from long-term debt | 306,866 | 19,216,396 |
Repayments of long-term debt | -5,070,587 | -872,721 |
Payments of lease liabilities | -4,508,031 | -2,666,630 |
Increase in other non-current liabilities | 69,756 | 0 |
Decrease in other non-current liabilities | 0 | -529,578 |
Interest paid | -35,525,290 | -31,380,255 |
Change in non-controlling interests | -2,299,658 | 6,690,142 |
Net cash flows from (used in) financing activities | -1,608,541 | -114,629,028 |
Effect of exchange rate changes on cash and cash equivalents | -17,261,416 | 20,791,466 |
Net increase (decrease) in cash and cash equivalents | 95,297,123 | 28,205,888 |
Cash and cash equivalents at beginning of period | 857,864,362 | 788,662,325 |
Cash and cash equivalents at end of period | 953,161,485 | 816,868,213 |
Cash and cash equivalents reported in the statement of financial position | 953,161,485 | 816,868,213 |
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 | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity at beginning of period | 138,629,906 | 138,629,906 | 199,383,371 | 149,512,874 | 60,309,927 | 794,615,182 | 1,004,437,983 | -113,889,466 | 11,437,746 | -102,451,720 | -15,194 | 1,239,984,346 | 159,641,071 | 1,399,625,417 |
Legal reserve appropriated | 0 | 0 | 0 | 11,530,874 | 0 | -11,530,874 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Special reserve appropriated | 0 | 0 | 0 | 0 | 42,141,793 | -42,141,793 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash dividends of ordinary share | 0 | 0 | 0 | 0 | 0 | -58,224,561 | -58,224,561 | 0 | 0 | 0 | 0 | -58,224,561 | 0 | -58,224,561 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | -335,762 | 0 | 0 | -12,181 | -12,181 | 0 | 0 | 0 | 0 | -347,943 | 0 | -347,943 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 24,964,263 | 24,964,263 | 0 | 0 | 0 | 0 | 24,964,263 | 2,584,214 | 27,548,477 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -37,083,662 | -2,358,870 | -39,442,532 | 0 | -39,442,532 | -3,823,067 | -43,265,599 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 24,964,263 | 24,964,263 | -37,083,662 | -2,358,870 | -39,442,532 | 0 | -14,478,269 | -1,238,853 | -15,717,122 |
Changes in ownership interests in subsidiaries | 0 | 0 | 2,684,433 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,684,433 | 0 | 2,684,433 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2,299,658 | -2,299,658 |
Disposal of investments in equity instruments designated at fair value through other comprehensive income | 0 | 0 | 0 | 0 | 0 | 700,641 | 700,641 | 0 | -700,641 | -700,641 | 0 | 0 | 0 | 0 |
Increase (decrease) in equity | 0 | 0 | 2,348,671 | 11,530,874 | 42,141,793 | -86,244,505 | -32,571,838 | -37,083,662 | -3,059,511 | -40,143,173 | 0 | -70,366,340 | -3,538,511 | -73,904,851 |
Equity at end of period | 138,629,906 | 138,629,906 | 201,732,042 | 161,043,748 | 102,451,720 | 708,370,677 | 971,866,145 | -150,973,128 | 8,378,235 | -142,594,893 | -15,194 | 1,169,618,006 | 156,102,560 | 1,325,720,566 |