15th May 2018 08:30
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2018 1st IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2018/03/31 | 2017/12/31 | 2017/03/31 |
Assets | |||
Current assets | |||
Description of type of hedge | 576,764,690 | 642,496,059 | 534,950,315 |
Current financial assets at fair value through profit or loss | 2,404,654 | 7,009,541 | 6,079,974 |
Current available-for-sale financial assets | 0 | 290 | 459,151 |
Current financial assets at amortised cost | 137,633,399 | 0 | 0 |
Accounts receivable, net | 556,962,754 | 1,150,428,069 | 465,750,840 |
Accounts receivable due from related parties, net | 39,641,871 | 80,066,388 | 38,135,771 |
Other receivables | 61,727,114 | 67,700,725 | 42,256,313 |
Other receivables due from related parties | 79,362,638 | 82,627,493 | 2,223,344 |
Disclosure of detailed information about hedges [table] | 570,960,455 | 560,954,855 | 351,053,527 |
Prepayments | 24,471,351 | 20,328,111 | 13,501,890 |
Other current assets | 0 | 134,524,586 | 149,160,097 |
Total current assets | 2,049,928,926 | 2,746,136,117 | 1,603,571,222 |
Non-current assets | |||
Non-current financial assets at fair value through profit or loss | 61,037,976 | 3,040,601 | 6,337,574 |
Non-current financial assets at fair value through other comprehensive income | 70,557,266 | 0 | 0 |
Non-current available-for-sale financial assets | 0 | 70,868,132 | 191,232,518 |
Non-current financial assets at amortised cost | 18,093,825 | 0 | 0 |
Non-current financial assets at cost | 0 | 49,861,639 | 35,842,359 |
Non-current investments in debt instrument without active market | 0 | 4,571,100 | 0 |
Hedges [member] | 151,405,489 | 151,000,283 | 145,494,241 |
Information about how fair was determined if not on basis of observable market, other equity instruments granted | 278,442,473 | 278,204,005 | 290,076,851 |
Investment property, net | 2,400,869 | 2,422,523 | 2,356,455 |
Intangible assets | 9,200,935 | 9,552,444 | 10,401,034 |
Gains (losses) on fair value adjustment, biological assets | 15,263,035 | 15,048,377 | 17,561,674 |
Other non-current assets | 65,903,218 | 76,511,392 | 29,468,195 |
Total non-current assets | 672,305,086 | 661,080,496 | 728,770,901 |
Total assets | 2,722,234,012 | 3,407,216,613 | 2,332,342,123 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Asset recognised for expected reimbursement, other provisions | 392,196,767 | 418,835,146 | 121,126,122 |
Short-term notes and bills payable | 7,313,452 | 10,960,269 | 4,198,604 |
Current financial liabilities at fair value through profit or loss | 8,158,646 | 6,486,348 | 12,583,852 |
Accounts payable | 537,873,755 | 1,119,169,644 | 453,610,641 |
Accounts payable to related parties | 52,874,950 | 97,315,119 | 37,638,614 |
Other payables | 201,854,843 | 255,696,126 | 183,172,754 |
Explanation of why fair value cannot be reliably measured for investment property, cost model | 37,010,597 | 38,439,140 | 26,705,519 |
Weighted average cost of capital, significant unobservable inputs, assets | 4,575,530 | 4,796,498 | 2,940,265 |
Other current liabilities | 62,683,116 | 73,803,977 | 115,195,939 |
Total current liabilities | 1,304,541,656 | 2,025,502,267 | 957,172,310 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | 393,308 | 0 | 0 |
Bonds payable | 168,600,176 | 168,495,189 | 132,714,375 |
Expected reimbursement, other provisions | 20,321,584 | 19,984,818 | 19,127,251 |
Gains (losses) on ineffectiveness of cash flow hedges recognised in profit or loss | 14,393,226 | 12,541,548 | 31,268,938 |
Other non-current liabilities | 9,670,244 | 8,900,336 | 8,553,919 |
Total non-current liabilities | 213,378,538 | 209,921,891 | 191,664,483 |
Total liabilities | 1,517,920,194 | 2,235,424,158 | 1,148,836,793 |
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 | 2,384,110 | 3,300,393 | 1,072,986 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 6,191,690 | 4,972,207 | 3,119,317 |
Capital surplus, share options | 1,099,253 | 1,099,253 | 0 |
Total capital surplus | 98,176,084 | 97,872,884 | 92,693,334 |
Retained earnings | |||
Legal reserve | 122,732,924 | 122,732,924 | 107,866,626 |
Unappropriated retained earnings (accumulated deficit) | 749,276,164 | 717,885,835 | 700,226,939 |
Total retained earnings | 872,009,088 | 840,618,759 | 808,093,565 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | -49,914,178 | -56,320,437 | -64,778,688 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | 23,297,344 | 0 | 0 |
Unrealized gains (losses) on available-for-sale financial assets | 0 | 28,781,127 | 102,914,245 |
Total other equity interest | -26,616,834 | -27,539,310 | 38,135,557 |
Disclosure of maturity analysis for financial assets held for managing liquidity risk [table] | 18,901 | 18,901 | 18,901 |
Total equity attributable to owners of parent | 1,116,836,820 | 1,084,220,815 | 1,112,190,938 |
Unused tax losses [member] | 87,476,998 | 87,571,640 | 71,314,392 |
Total equity | 1,204,313,818 | 1,171,792,455 | 1,183,505,330 |
Total liabilities and equity | 2,722,234,012 | 3,407,216,613 | 2,332,342,123 |
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 | 2018/01/01To2018/03/31 | 2017/01/01To2017/03/31 |
Operating revenue | ||
Total operating revenue | 1,028,594,580 | 975,043,856 |
Operating costs | ||
Total operating costs | 964,917,846 | 903,319,240 |
Gross profit (loss) from operations | 63,676,734 | 71,724,616 |
Gross profit (loss) from operations | 63,676,734 | 71,724,616 |
Operating expenses | ||
Selling expenses | 6,667,298 | 6,102,292 |
Deferred tax liability (asset) | 16,341,037 | 16,043,026 |
Research and development expenses | 16,008,539 | 13,089,572 |
Total operating expenses | 39,016,874 | 35,234,890 |
Net operating income (loss) | 24,659,860 | 36,489,726 |
Non-operating income and expenses | ||
Other income | ||
Total other income | 13,182,697 | 13,066,926 |
Other gains and losses | ||
Other gains and losses, net | -492,868 | -5,547,643 |
Finance costs | ||
Finance costs, net | 10,604,115 | 8,501,443 |
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 | 3,134,758 | 930,690 |
Total non-operating income and expenses | 5,220,472 | -51,470 |
Profit (loss) from continuing operations before tax | 29,880,332 | 36,438,256 |
Tax expense (income) | ||
Total tax expense (income) | 5,863,287 | 7,230,810 |
Exercise price, share options granted | 24,017,045 | 29,207,446 |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | 24,017,045 | 29,207,446 |
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 | 1,994,109 | 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 | -1,836,538 | 0 |
Components of other comprehensive income that will not be reclassified to profit or loss | 157,571 | 0 |
Components of other comprehensive income that will be reclassified to profit or loss | ||
Exchange differences on translation | 5,100,874 | -56,984,207 |
Unrealised gains (losses) on valuation of available-for-sale financial assets | 0 | 65,284,656 |
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 | 1,545,317 | 6,122,533 |
Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 0 | 10,020,699 |
Components of other comprehensive income that will be reclassified to profit or loss | 6,646,191 | 4,402,283 |
Total other comprehensive income | 6,803,762 | 4,402,283 |
Total comprehensive income | 30,820,807 | 33,609,729 |
Profit (loss), attributable to: | ||
Description of inputs to option pricing model, share options granted | 24,080,663 | 28,167,531 |
Date of grant of share-based payment arrangement | -63,618 | 1,039,915 |
Comprehensive income attributable to: | ||
Exchange differences on translation [abstract] | 30,609,913 | 33,794,821 |
Equity | 210,894 | -185,092 |
Basic earnings per share | ||
Description of nature of financial statements | 1.39 | 1.63 |
Total basic earnings per share | 1.39 | 1.63 |
Diluted earnings per share | ||
Property, plant and equipment, revaluation surplus | 1.37 | 1.61 |
Total diluted earnings per share | 1.37 | 1.61 |
Statements of Cash Flows
Accounting Title | 2018/01/01To2018/03/31 | 2017/01/01To2017/03/31 |
Statement of cash flows | ||
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 29,880,332 | 36,438,256 |
Profit (loss) before tax | 29,880,332 | 36,438,256 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 13,327,746 | 14,983,478 |
Amortization expense | 337,688 | 317,224 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | -1,213,766 | 5,170 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | 6,031,120 | 15,985,389 |
Interest expense | 10,420,829 | 8,491,157 |
Interest income | -11,754,366 | -10,682,980 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | -3,134,758 | -930,690 |
Loss (gain) on disposal of property, plan and equipment | 238,898 | 55,605 |
Loss (gain) on disposal of investments | 0 | 18,148 |
Total adjustments to reconcile profit (loss) | 14,253,391 | 28,242,501 |
Changes in operating assets and liabilities | ||
Changes in operating assets | ||
Decrease (increase) in financial assets held for trading | 0 | -3,071,835 |
Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | 1,556,228 | 0 |
Decrease (increase) in notes receivable | -2,214,530 | -85,188 |
Decrease (increase) in accounts receivable | 596,872,895 | 233,406,208 |
Decrease (increase) in accounts receivable due from related parties | 40,424,517 | -6,154,926 |
Decrease (increase) in other receivable | 4,890,140 | -250,584 |
Decrease (increase) in inventories | -10,005,600 | 36,220,534 |
Decrease (increase) in prepayments | -4,143,240 | -416,387 |
Total changes in operating assets | 627,380,410 | 259,647,822 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -581,295,889 | -225,444,616 |
Increase (decrease) in accounts payable to related parties | -44,440,169 | 7,030,685 |
Increase (decrease) in other payable | -44,110,761 | -34,959,669 |
Increase (decrease) in provisions | -220,968 | -42,771 |
Increase (decrease) in other current liabilities | 10,648,023 | 17,627,250 |
Increase (decrease) in net defined benefit liability | 15,364 | -87,416 |
Total changes in operating liabilities | -659,404,400 | -235,876,537 |
Total changes in operating assets and liabilities | -32,023,990 | 23,771,285 |
Total adjustments | -17,770,599 | 52,013,786 |
Cash inflow (outflow) generated from operations | 12,109,733 | 88,452,042 |
Income taxes refund (paid) | -5,654,810 | -11,509,301 |
Net cash flows from (used in) operating activities | 6,454,923 | 76,942,741 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -2,936,134 | 0 |
Acquisition of financial assets at amortised cost | -15,157,757 | 0 |
Acquisition of financial assets designated at fair value through profit or loss | -1,759,932 | -4,652,450 |
Proceeds from disposal of available-for-sale financial assets | 0 | 15,354 |
Acquisition of financial assets at cost | 0 | -5,676,243 |
Proceeds from disposal of financial assets at cost | 0 | 374,360 |
Acquisition of property, plant and equipment | -15,643,321 | -10,283,597 |
Proceeds from disposal of property, plant and equipment | 5,489,277 | 1,097,815 |
Increase in other financial assets | 0 | -42,395,895 |
Decrease in other financial assets | 0 | 15,091 |
Increase in other non-current assets | -471,959 | -1,309,484 |
Interest received | 16,105,265 | 12,189,119 |
Other investing activities | -35,486 | -199,301 |
Net cash flows from (used in) investing activities | -14,410,047 | -50,825,231 |
Cash flows from (used in) financing activities | ||
Decrease in short-term loans | -26,638,379 | -50,346,021 |
Decrease in short-term notes and bills payable | -3,640,269 | -11,790,844 |
Proceeds from issuing bonds | 1,350,056 | 0 |
Repayments of bonds | -19,167,336 | -11,050,000 |
Proceeds from long-term debt | 971,145 | 190,000 |
Repayments of long-term debt | -810,260 | -4,951,071 |
Increase in other non-current liabilities | 769,768 | 86,277 |
Interest paid | -14,447,522 | -8,886,444 |
Change in non-controlling interests | -8,308 | 939,847 |
Net cash flows from (used in) financing activities | -61,621,105 | -85,808,256 |
Aggregated individually immaterial business combinations [member] | 3,844,860 | -38,514,240 |
Net increase (decrease) in cash and cash equivalents | -65,731,369 | -98,204,986 |
Cash and cash equivalents at beginning of period | 642,496,059 | 633,155,301 |
Cash and cash equivalents at end of period | 576,764,690 | 534,950,315 |
Cash and cash equivalents reported in the statement of financial position | 576,764,690 | 534,950,315 |
Statements of Changes in Stockholders' Equity
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 | 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 | |
Description of arrangement for contingent consideration arrangements and indemnification assets | 173,287,383 | 173,287,383 | 98,176,084 | 122,732,924 | 749,276,164 | 872,009,088 | -49,914,178 | 23,297,344 | 0 | -26,616,834 | -18,901 | 1,116,836,820 | 87,476,998 | 1,204,313,818 |
Effects of retrospective application and retrospective restatement | 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 | 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 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | 1,219,483 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,219,483 | 0 | 1,219,483 |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | 0 | 0 | 0 | 0 | 24,080,663 | 24,080,663 | 0 | 0 | 0 | 0 | 0 | 24,080,663 | -63,618 | 24,017,045 |
Reinsurance assets | 0 | 0 | 0 | 0 | 0 | 0 | 6,406,259 | 122,991 | 0 | 6,529,250 | 0 | 6,529,250 | 274,512 | 6,803,762 |
Total comprehensive income | 0 | 0 | 0 | 0 | 24,080,663 | 24,080,663 | 6,406,259 | 122,991 | 0 | 6,529,250 | 0 | 30,609,913 | 210,894 | 30,820,807 |
Changes in ownership interests in subsidiaries | 0 | 0 | -916,283 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -916,283 | 0 | -916,283 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,308 | -8,308 |
Disclosure of general information about financial statements [text block] | 0 | 0 | 303,200 | 0 | 24,080,663 | 24,080,663 | 6,406,259 | 122,991 | 0 | 6,529,250 | 0 | 30,913,113 | 202,586 | 31,115,699 |
Description of arrangement for contingent consideration arrangements and indemnification assets | 173,287,383 | 173,287,383 | 98,176,084 | 122,732,924 | 749,276,164 | 872,009,088 | -49,914,178 | 23,297,344 | 0 | -26,616,834 | -18,901 | 1,116,836,820 | 87,476,998 | 1,204,313,818 |
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