15th May 2014 10:44
2317 2014 1st IFRS Consolidated Financial Statements Document Preview
Unit: NT$ thousand |
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Accounting Title | 2014/3/31 | 2013/12/31 | 2013/3/31 |
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Balance Sheet | |||||||||
Assets |
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Current assets |
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Cash and cash equivalents |
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Total cash and cash equivalents | 755,095,946 | 694,027,045 | 678,906,605 |
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Current financial assets at fair value through profit or loss |
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Total current financial assets at fair value through profit or loss | 8,946,209 | 1,198,112 | 171,054 |
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Current available-for-sale financial assets |
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Current available-for-sale financial assets, net | 959,593 | 1,087,171 | 825,486 |
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Accounts receivable, net |
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Accounts receivable, net | 413,537,097 | 727,761,542 | 363,713,426 |
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Accounts receivable due from related parties, net |
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Accounts receivable due from related parties, net | 9,608,183 | 19,948,258 | 18,742,186 |
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Other receivables |
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Other receivables, net | 47,520,567 | 40,215,354 | 70,371,578 |
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Inventories |
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Total inventories | 306,481,676 | 312,785,092 | 364,369,464 |
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Prepayments |
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Total prepayments | 7,399,586 | 6,393,753 | 8,150,404 |
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Other current assets |
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Total other current assets | 6,905,611 | 5,165,161 | 1,142,626 |
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Total current assets | 1,556,454,468 | 1,808,581,488 | 1,506,392,829 |
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Non-current assets |
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Non-current financial assets at fair value through profit or loss |
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Total non-current financial assets at fair value through profit or loss | 0 | 0 | 179,300 |
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Non-current available-for-sale financial assets |
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Non-current available-for-sale financial assets, net | 13,044,774 | 11,854,684 | 14,074,177 |
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Non-current financial assets at cost |
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Non-current financial assets at cost, net | 11,707,662 | 10,843,376 | 9,280,939 |
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Investments accounted for using equity method |
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Investments accounted for using equity method, net | 46,878,554 | 46,282,999 | 42,393,377 |
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Property, plant and equipment |
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Total property, plant and equipment | 363,411,267 | 379,561,941 | 408,053,543 |
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Investment property, net |
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Investment property, net | 2,270,514 | 2,304,839 | 2,408,824 |
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Intangible assets |
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Total intangible assets | 12,792,396 | 12,815,278 | 3,955,963 |
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Deferred tax assets | 18,487,468 | 15,837,041 | 12,112,448 |
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Other non-current assets |
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Total other non-current assets | 24,862,849 | 24,379,557 | 26,482,380 |
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Total non-current assets | 493,455,484 | 503,879,715 | 518,940,951 |
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Total assets | 2,049,909,952 | 2,312,461,203 | 2,025,333,780 |
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Liabilities |
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Current liabilities |
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Short-term borrowings |
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Total short-term borrowings | 319,740,473 | 366,233,601 | 436,908,076 |
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Short-term notes and bills payable |
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Total short-term notes and bills payable | 11,986,280 | 19,982,517 | 11,986,891 |
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Current financial liabilities at fair value through profit or loss |
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Total current financial liabilities at fair value through profit or loss | 995,878 | 39,946 | 30,135 |
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Accounts payable |
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Total accounts payable | 473,259,543 | 682,942,409 | 405,066,683 |
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Accounts payable to related parties |
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Total accounts payable to related parties | 20,697,293 | 29,761,739 | 29,632,876 |
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Other payables |
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Total other payables | 166,295,855 | 191,175,178 | 180,328,802 |
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Current tax liabilities | 27,352,824 | 24,158,478 | 21,780,477 |
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Current provisions |
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Total current provisions | 2,471,812 | 2,406,336 | 2,051,728 |
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Other current liabilities |
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Total other current liabilities | 47,585,612 | 42,260,567 | 101,836,625 |
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Total current liabilities | 1,070,385,570 | 1,358,960,771 | 1,189,622,293 |
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Non-current liabilities |
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Bonds payable |
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Total bonds payable | 100,660,488 | 97,054,788 | 91,098,550 |
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Long-term borrowings |
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Total long-term borrowings | 32,853,740 | 35,108,728 | 12,555,398 |
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Deferred tax liabilities |
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Total deferred tax liabilities | 4,792,840 | 6,218,103 | 5,273,758 |
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Other non-current liabilities |
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Total other non-current liabilities | 9,117,089 | 9,194,211 | 10,747,028 |
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Total non-current liabilities | 147,424,157 | 147,575,830 | 119,674,734 |
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Total liabilities | 1,217,809,727 | 1,506,536,601 | 1,309,297,027 |
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Equity |
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Equity attributable to owners of parent |
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Share capital |
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Ordinary share | 131,287,068 | 131,287,068 | 118,358,665 |
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Total capital stock | 131,287,068 | 131,287,068 | 118,358,665 |
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Capital surplus |
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Capital surplus, additional paid-in capital |
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Total capital surplus, additional paid-in capital | 64,033,016 | 64,033,016 | 58,302,661 |
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Capital surplus, difference between consideration and carrying amount of subsidiaries acquired or disposed | 341,920 | 52,165 | 21,229 |
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Capital surplus, donated assets received |
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Total capital surplus, donated assets received | 0 | 0 | 0 |
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Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 741,705 | 707,692 | 565,769 |
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Capital surplus, share options | 0 | 0 | 0 |
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Total capital surplus | 65,116,641 | 64,792,873 | 58,889,659 |
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Retained earnings |
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Legal reserve | 69,456,739 | 69,456,739 | 59,980,502 |
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Unappropriated retained earnings (accumulated deficit) |
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Total unappropriated retained earnings (accumulated deficit) | 486,966,189 | 467,423,426 | 416,143,872 |
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Total retained earnings | 556,422,928 | 536,880,165 | 476,124,374 |
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Other equity interest |
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Exchange differences on translation of foreign financial statements |
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Total exchange differences on translation of foreign financial statements | 30,080,612 | 26,432,947 | 17,975,823 |
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Unrealized gains (losses) on available-for-sale financial assets |
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Total unrealized gains (losses) on available-for-sale financial assets | 6,078,684 | 5,295,914 | 7,188,053 |
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Total other equity interest | 36,159,296 | 31,728,861 | 25,163,876 |
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Treasury shares | 18,901 | 18,901 | 18,901 |
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Total equity attributable to owners of parent | 788,967,032 | 764,670,066 | 678,517,673 |
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Non-controlling interests | 43,133,193 | 41,254,536 | 37,519,080 |
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Total equity | 832,100,225 | 805,924,602 | 716,036,753 |
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Number of share capital awaiting retirement | 0 | 0 | 0 |
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Equivalent issue shares of advance receipts for ordinary share | 0 | 0 | 0 |
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Number of shares in entity held by entity and by its subsidiaries | 1,433,093 | 1,433,093 | 1,302,812 |
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Accounting Title | 2014/01/01 To 2014/03/31 | 2013/01/01 To 2013/03/31 |
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Statement of comprehensive income |
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Operating revenue |
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Total operating revenue | 883,479,325 | 809,011,951 |
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Operating costs |
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Total operating costs | 830,103,420 | 763,098,864 |
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Gross profit (loss) from operations | 53,375,905 | 45,913,087 |
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Gross profit (loss) from operations | 53,375,905 | 45,913,087 |
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Operating expenses |
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Selling expenses |
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Total selling expenses | 5,032,823 | 4,984,599 |
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Administrative expenses |
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Total administrative expenses | 17,662,656 | 17,474,138 |
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Research and development expenses |
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Total research and development expenses | 9,774,707 | 9,547,359 |
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Total operating expenses | 32,470,186 | 32,006,096 |
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Net operating income (loss) | 20,905,719 | 13,906,991 |
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Non-operating income and expenses |
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Other income |
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Total other income | 6,477,961 | 2,940,594 |
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Other gains and losses |
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Other gains and losses, net | 1,144,340 | 6,688,473 |
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Finance costs |
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Finance costs, net | 3,191,464 | 1,895,057 |
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Share of profit (loss) of associates and joint ventures accounted for using equity method |
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Share of profit (loss) of associates and joint ventures accounted for using equity method, net | 204,313 | 956,172 |
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Total non-operating income and expenses | 4,635,150 | 8,690,182 |
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Profit (loss) from continuing operations before tax | 25,540,869 | 22,597,173 |
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Tax expense (income) |
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Total tax expense (income) | 5,711,079 | 6,246,849 |
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Profit (loss) from continuing operations | 19,829,790 | 16,350,324 |
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Profit (loss) | 19,829,790 | 16,350,324 |
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Other comprehensive income |
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Exchange differences on translation | 2,788,353 | 16,593,670 |
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Unrealised gains (losses) on valuation of available-for-sale financial assets | 736,778 | 486,712 |
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Share of other comprehensive income of associates and joint ventures accounted for using equity method |
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Total share of other comprehensive income of associates and joint ventures accounted for using equity method | 615,113 | 386,289 |
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Other comprehensive income, net | 4,140,244 | 17,466,671 |
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Total comprehensive income | 23,970,034 | 33,816,995 |
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Profit (loss), attributable to: |
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Profit (loss), attributable to owners of parent | 19,542,763 | 16,352,513 |
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Profit (loss), attributable to non-controlling interests | 287,027 | -2,189 |
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Comprehensive income attributable to: |
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Comprehensive income, attributable to owners of parent | 23,973,198 | 33,710,832 |
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Comprehensive income, attributable to non-controlling interests | -3,164 | 106,163 |
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Basic earnings per share |
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Basic earnings (loss) per share from continuing operations | 1.49 | 1.26 |
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Total basic earnings per share | 1.49 | 1.26 |
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Diluted earnings per share |
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Diluted earnings (loss) per share from continuing operations | 1.47 | 1.23 |
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Total diluted earnings per share | 1.47 | 1.23 |
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Accounting Title | 2014/01/01To2014/03/31 | 2013/01/01To2013/03/31 |
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Statement of cash flows |
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Cash flows from (used in) operating activities, indirect method |
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Profit (loss) from continuing operations before tax | 25,540,869 | 22,597,173 |
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Profit (loss) before tax | 25,540,869 | 22,597,173 |
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Adjustments |
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Adjustments to reconcile profit (loss) |
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Depreciation expense | 18,045,556 | 19,796,124 |
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Amortization expense | 218,233 | 202,382 |
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Provision (reversal of provision) for bad debt expense | 0 | 0 |
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Net loss (gain) on financial assets or liabilities at fair value through profit or loss | 91,940 | -126,207 |
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Interest expense | 3,154,474 | 1,843,629 |
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Interest income | -5,330,805 | -1,578,308 |
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Dividend income | -221 | -70,930 |
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Share of loss (profit) of associates and joint ventures accounted for using equity method | -204,313 | -956,172 |
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Loss (gain) on disposal of property, plan and equipment | -47,840 | 8,093 |
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Loss (gain) on disposal of investments | -62,845 | 60,602 |
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Total adjustments to reconcile profit (loss) | 15,864,179 | 19,179,213 |
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Changes in operating assets and liabilities |
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Changes in operating assets |
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Decrease (increase) in financial assets held for trading | -6,884,105 | 43,453 |
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Decrease (increase) in notes receivable | 169,125 | 51,271 |
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Decrease (increase) in accounts receivable | 314,055,320 | 232,951,420 |
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Decrease (increase) in accounts receivable due from related parties | 10,340,075 | 17,590,338 |
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Decrease (increase) in other receivable | -6,645,635 | -32,979,518 |
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Decrease (increase) in inventories | 6,303,416 | -14,486,821 |
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Decrease (increase) in prepayments | -1,005,833 | -503,363 |
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Total changes in operating assets | 316,332,363 | 202,666,780 |
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Changes in operating liabilities |
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Increase (decrease) in accounts payable | -209,682,866 | -197,689,111 |
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Increase (decrease) in accounts payable to related parties | -9,064,446 | -5,981,971 |
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Increase (decrease) in other payable | -24,898,188 | -10,174,979 |
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Increase (decrease) in provisions | 65,476 | -1,412,552 |
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Increase (decrease) in receipts in advance | 2,344,599 | -1,502,240 |
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Increase (decrease) in other current liabilities | -887,138 | -366,178 |
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Increase (decrease) in accrued pension liabilities | -21,563 | -34,328 |
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Total changes in operating liabilities | -242,144,126 | -217,161,359 |
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Total changes in operating assets and liabilities | 74,188,237 | -14,494,579 |
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Total adjustments | 90,052,416 | 4,684,634 |
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Cash inflow (outflow) generated from operations | 115,593,285 | 27,281,807 |
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Income taxes refund (paid) | -6,592,423 | -3,679,331 |
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Net cash flows from (used in) operating activities | 109,000,862 | 23,602,476 |
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Cash flows from (used in) investing activities |
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Acquisition of available-for-sale financial assets | -179,327 | -132,000 |
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Proceeds from disposal of available-for-sale financial assets | 34,295 | 146 |
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Acquisition of financial assets at cost | -629,841 | -249,607 |
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Proceeds from disposal of financial assets at cost | 0 | 74,067 |
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Acquisition of investments accounted for using equity method | -134,502 | -760,665 |
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Proceeds from disposal of investments accounted for using equity method | 0 | 1,891,931 |
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Acquisition of property, plant and equipment | -2,751,904 | -16,038,066 |
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Proceeds from disposal of property, plant and equipment | 418,843 | 327,148 |
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Increase in other receivables due from related parties | -530,000 | 0 |
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Acquisition of intangible assets | 0 | 0 |
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Increase in other financial assets | -1,740,450 | 608,544 |
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Increase in other non-current assets | -482,760 | -709,374 |
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Increase in other prepayments | -32,941 | -7,913 |
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Decrease in other prepayments | 0 | 0 |
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Interest received | 5,201,227 | 2,422,223 |
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Dividends received | 221 | 70,930 |
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Other investing activities | -937,131 | 0 |
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Net cash flows from (used in) investing activities | -1,764,270 | -12,502,636 |
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Cash flows from (used in) financing activities |
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Increase in short-term loans | -46,493,128 | 139,335,911 |
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Decrease in short-term notes and bills payable | -7,996,237 | 3,995,294 |
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Proceeds from issuing bonds | 6,000,000 | 15,602,058 |
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Repayments of bonds | 0 | 0 |
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Proceeds from long-term debt | 140,000 | 1,233,942 |
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Repayments of long-term debt | -2,699,233 | -5,223,580 |
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Increase in other non-current liabilities | 881,572 | 3,662,272 |
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Cash dividends paid | 0 | 0 |
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Interest paid | -3,400,411 | -1,589,790 |
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Change in non-controlling interests | 1,881,821 | 381,671 |
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Net cash flows from (used in) financing activities | -51,685,616 | 157,397,778 |
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Effect of exchange rate changes on cash and cash equivalents | 5,517,925 | 4,882,031 |
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Net increase (decrease) in cash and cash equivalents | 61,068,901 | 173,379,649 |
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Cash and cash equivalents at beginning of period | 694,027,045 | 505,526,956 |
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Cash and cash equivalents at end of period | 755,095,946 | 678,906,605 |
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Cash and cash equivalents reported in the statement of financial position | 755,095,946 | 678,906,605 |
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2014/03/31 Statement of Stockholders' Equity
Unit: NT$ thousand | |||||||||||||
Ordinary share | 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 | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity at beginning of period | 131,287,068 | 131,287,068 | 64,792,873 | 69,456,739 | 467,423,426 | 536,880,165 | 26,432,947 | 5,295,914 | 31,728,861 | -18,901 | 764,670,066 | 41,254,536 | 805,924,602 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | 34,013 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34,013 | 0 | 34,013 |
Profit (loss) | 0 | 0 | 0 | 0 | 19,542,763 | 19,542,763 | 0 | 0 | 0 | 0 | 19,542,763 | 287,027 | 19,829,790 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 3,647,665 | 782,770 | 4,430,435 | 0 | 4,430,435 | -290,191 | 4,140,244 |
Total comprehensive income | 0 | 0 | 0 | 0 | 19,542,763 | 19,542,763 | 3,647,665 | 782,770 | 4,430,435 | 0 | 23,973,198 | -3,164 | 23,970,034 |
Difference between consideration and carrying amount of subsidiaries acquired or disposed | 0 | 0 | 289,755 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 289,755 | 0 | 289,755 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,881,821 | 1,881,821 |
Total increase (decrease) in equity | 0 | 0 | 323,768 | 0 | 19,542,763 | 19,542,763 | 3,647,665 | 782,770 | 4,430,435 | 0 | 24,296,966 | 1,878,657 | 26,175,623 |
Equity at end of period | 131,287,068 | 131,287,068 | 65,116,641 | 69,456,739 | 486,966,189 | 556,422,928 | 30,080,612 | 6,078,684 | 36,159,296 | -18,901 | 788,967,032 | 43,133,193 | 832,100,225 |
2013/03/31 Statement of Stockholders' Equity
Unit: NT$ thousand | |||||||||||||
Ordinary share | 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 | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | |
Equity at beginning of period | 118,358,665 | 118,358,665 | 58,932,078 | 59,980,502 | 399,791,359 | 459,771,861 | 1,370,511 | 6,435,046 | 7,805,557 | -18,901 | 644,849,260 | 36,064,490 | 680,913,750 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | -29,808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -29,808 | 0 | -29,808 |
Profit (loss) | 0 | 0 | 0 | 0 | 16,352,513 | 16,352,513 | 0 | 0 | 0 | 0 | 16,352,513 | -2,189 | 16,350,324 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 16,605,312 | 753,007 | 17,358,319 | 0 | 17,358,319 | 108,352 | 17,466,671 |
Total comprehensive income | 0 | 0 | 0 | 0 | 16,352,513 | 16,352,513 | 16,605,312 | 753,007 | 17,358,319 | 0 | 33,710,832 | 106,163 | 33,816,995 |
Difference between consideration and carrying amount of subsidiaries acquired or disposed | 0 | 0 | -12,611 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12,611 | 0 | -12,611 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,348,427 | 1,348,427 |
Total increase (decrease) in equity | 0 | 0 | -42,419 | 0 | 16,352,513 | 16,352,513 | 16,605,312 | 753,007 | 17,358,319 | 0 | 33,668,413 | 1,454,590 | 35,123,003 |
Equity at end of period | 118,358,665 | 118,358,665 | 58,889,659 | 59,980,502 | 416,143,872 | 476,124,374 | 17,975,823 | 7,188,053 | 25,163,876 | -18,901 | 678,517,673 | 37,519,080 | 716,036,753 |
Report of Independent Auditors | |
Name of CPA Firm | PricewaterhouseCoopers |
Name of CPA 1 | WU, HAN-CHI |
Name of CPA 2 | Chang, Ming-Hui |
Date of Audit (Review) | 2014-05-14 |
Type of Report | |
Review Report | Y |
Type of Opinion | |
Qualified Opinion | Y |
Situations for not Issuing a Standard Unqualified Opinion | |
Financial statements of non-major subsidiary or investment accounted for using equity method have not been audited or reviewed | Y |
Description of Matter Emphasized | |
Description of Other Matter | |
Content of Independent Auditors Report | To The Board of Directors and Stockholders Hon Hai Precision Industry Co., Ltd.
We have reviewed, in accordance with the R.O.C. Statement of Auditing Sta ndards No. 36, ?Review of Financial Statements?, the consolidated balance s heets of Hon Hai Precision Industry Co., Ltd. and subsidiaries as of March 31 , 2014 and 2013 and the related consolidated statements of comprehensive inco me, of changes in equity and of cash flows for the three-month periods then e nded appearing on the Market Observation Post System as provided by the Taiwa n Stock Exchange Corporation. Our review is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financia l statements taken as a whole. Accordingly, we do not express such an opinion .
In our review report dated May 14, 2014, we indicated that the financial statements of certain consolidated subsidiaries and long-term equity investme nts accounted for under the equity method were not reviewed by independent ac countants. Except for the effect of such adjustments, if any, as might have b een determined to be necessary had the financial statements of certain invest ee companies and consolidated subsidiaries been audited or reviewed by indepe ndent accountants, based on our reviews, we are not aware of any material mod ifications that should be made to the consolidated financial statements refer red to above for them to be in conformity with the ?Rules Governing the Prep aration of Financial Statements of Securities Issuers?, International Accoun ting Standards No.34 ?Interim Financial Reporting?recognized by the Financi al Supervisory Commission R.O.C.
The condensed consolidated financial statements presented in the Market O bservation Post System of the Taiwan Stock Exchange Corporation are fairly st ated, in all material respects, in relation to the financial statements from which it has been derived.
Pricewaterhouse Coopers, Taiwan May 14, 2014
The accompanying consolidated financial statements are not intended to pr esent the financial position and results of operations and cash flows in acco rdance with accounting principles generally accepted in countries and jurisdi ctions other than the Republic of China. The standards, procedures and practi ces in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions othe r than the Republic of China. Accordingly, the accompanying consolidated fina ncial statements and report of independent accountants are not intended for u se by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice. As the financial statements are the responsibility of the management, Pri cewaterhouseCoopers cannot accept any liability for the use of, or reliance o n, the English translation or for any errors or misunderstandings that may de rive from the translation.
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