15th May 2020 13:27
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED SHEETS
2020 1st IFRS Consolidated Financial Statements
Balance Sheet
Accounting Title | 2020/03/31 | 2019/12/31 | 2019/03/31 |
Assets | |||
Current assets | |||
Cash and cash equivalents | 931,434,201 | 857,864,362 | 819,325,381 |
Current financial assets at fair value through profit or loss | 4,473,572 | 2,952,049 | 2,344,993 |
Current financial assets at amortised cost | 85,679,240 | 52,954,877 | 108,584,449 |
Accounts receivable, net | 622,757,155 | 987,278,438 | 661,319,721 |
Accounts receivable due from related parties, net | 28,434,024 | 44,754,604 | 34,586,702 |
Other receivables | 54,272,273 | 67,854,299 | 60,832,772 |
Other receivables due from related parties | 15,581,029 | 24,366,543 | 42,234,041 |
Current inventories | 532,240,638 | 515,772,177 | 570,569,916 |
Prepayments | 22,061,968 | 19,895,574 | 19,028,145 |
Total current assets | 2,296,934,100 | 2,573,692,923 | 2,318,826,120 |
Non-current assets | |||
Non-current financial assets at fair value through profit or loss | 85,621,808 | 82,660,725 | 75,154,373 |
Non-current financial assets at fair value through other comprehensive income | 55,656,421 | 68,807,217 | 73,315,838 |
Non-current financial assets at amortised cost | 12,961,571 | 12,528,569 | 16,135,117 |
Investments accounted for using equity method | 161,601,359 | 168,631,642 | 166,194,898 |
Property, plant and equipment | 277,457,385 | 287,523,253 | 279,992,163 |
Right-of-use assets | 46,660,405 | 46,760,340 | 48,717,424 |
Investment property, net | 6,609,334 | 4,419,912 | 2,591,707 |
Intangible assets | 41,431,581 | 41,380,353 | 30,200,268 |
Deferred tax assets | 21,670,233 | 18,701,465 | 20,765,522 |
Other non-current assets | 16,072,142 | 15,835,299 | 8,974,079 |
Total non-current assets | 725,742,239 | 747,248,775 | 722,041,389 |
Total assets | 3,022,676,339 | 3,320,941,698 | 3,040,867,509 |
Liabilities and equity | |||
Liabilities | |||
Current liabilities | |||
Current borrowings | 374,192,060 | 380,866,050 | 367,863,167 |
Short-term notes and bills payable | 29,963,286 | 30,528,296 | 35,286,800 |
Current financial liabilities at fair value through profit or loss | 3,293,360 | 1,881,685 | 960,359 |
Accounts payable | 642,432,165 | 870,678,994 | 616,947,234 |
Accounts payable to related parties | 24,190,374 | 35,509,127 | 29,813,959 |
Other payables | 186,863,873 | 217,732,729 | 187,809,836 |
Current tax liabilities | 16,138,489 | 18,531,289 | 38,816,543 |
Current provisions | 2,547,523 | 2,725,293 | 4,987,083 |
Current lease liabilities | 7,760,497 | 7,131,038 | 4,485,551 |
Other current liabilities | 91,542,791 | 91,876,860 | 45,952,085 |
Total current liabilities | 1,378,924,418 | 1,657,461,361 | 1,332,922,617 |
Non-current liabilities | |||
Non-current financial liabilities at fair value through profit or loss | 97,237 | 0 | 9,150 |
Bonds payable | 181,738,717 | 175,505,344 | 204,468,307 |
Non-current portion of non-current borrowings | 41,417,060 | 41,576,252 | 54,211,718 |
Non-current provisions | 372,575 | 369,953 | 0 |
Deferred tax liabilities | 21,482,440 | 18,261,509 | 19,175,732 |
Non-current lease liabilities | 21,929,457 | 20,875,343 | 23,829,889 |
Other non-current liabilities | 6,592,199 | 7,266,519 | 7,730,175 |
Total non-current liabilities | 273,629,685 | 263,854,920 | 309,424,971 |
Total liabilities | 1,652,554,103 | 1,921,316,281 | 1,642,347,588 |
Equity | |||
Equity attributable to owners of parent | |||
Share capital | |||
Ordinary share | 138,629,906 | 138,629,906 | 138,629,906 |
Total capital stock | 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 | 100,090,259 | 99,189,558 | 95,360,313 |
Capital surplus, donated assets received | 0 | 0 | 0 |
Capital surplus, changes in equity of associates and joint ventures accounted for using equity method | 10,190,123 | 10,593,529 | 11,379,263 |
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 | 199,880,666 | 199,383,371 | 196,339,860 |
Retained earnings | |||
Legal reserve | 149,512,874 | 149,512,874 | 136,606,364 |
Special reserve | 60,309,927 | 60,309,927 | 27,539,310 |
Unappropriated retained earnings (accumulated deficit) | 796,693,801 | 794,615,182 | 799,088,916 |
Total retained earnings | 1,006,516,602 | 1,004,437,983 | 963,234,590 |
Other equity interest | |||
Exchange differences on translation of foreign financial statements | -127,253,145 | -113,889,466 | -41,515,137 |
Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income | -5,522,923 | 11,437,746 | 10,547,123 |
Total other equity interest | -132,776,068 | -102,451,720 | -30,968,014 |
Treasury shares | 15,194 | 15,194 | 15,194 |
Total equity attributable to owners of parent | 1,212,235,912 | 1,239,984,346 | 1,267,221,148 |
Non-controlling interests | 157,886,324 | 159,641,071 | 131,298,773 |
Total equity | 1,370,122,236 | 1,399,625,417 | 1,398,519,921 |
Total liabilities and equity | 3,022,676,339 | 3,320,941,698 | 3,040,867,509 |
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 | 2020/01/01To2020/03/31 | 2019/01/01To2019/03/31 |
Operating revenue | ||
Total operating revenue | 929,133,122 | 1,054,302,519 |
Operating costs | ||
Total operating costs | 887,319,417 | 995,999,945 |
Gross profit (loss) from operations | 41,813,705 | 58,302,574 |
Gross profit (loss) from operations | 41,813,705 | 58,302,574 |
Operating expenses | ||
Selling expenses | 5,317,386 | 6,773,683 |
Administrative expenses | 15,035,999 | 17,546,993 |
Research and development expenses | 16,935,217 | 17,872,966 |
Total operating expenses | 37,288,602 | 42,193,642 |
Net operating income (loss) | 4,525,103 | 16,108,932 |
Non-operating income and expenses | ||
Other income | ||
Total other income | 14,578,180 | 17,937,160 |
Other gains and losses | ||
Other gains and losses, net | 441,377 | 9,096,893 |
Finance costs | ||
Finance costs, net | 12,259,616 | 14,390,443 |
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 | -1,386,624 | 1,730,936 |
Total non-operating income and expenses | 1,373,317 | 14,374,546 |
Profit (loss) from continuing operations before tax | 5,898,420 | 30,483,478 |
Tax expense (income) | ||
Total tax expense (income) | 3,748,209 | 6,322,069 |
Profit (loss) from continuing operations | 2,150,211 | 24,161,409 |
Profit (loss) | 2,150,211 | 24,161,409 |
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 | -13,982,967 | 4,965,318 |
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 | -4,025,455 | 516,032 |
Components of other comprehensive income that will not be reclassified to profit or loss | -18,008,422 | 5,481,350 |
Components of other comprehensive income that will be reclassified to profit or loss | ||
Exchange differences on translation | -12,232,021 | 24,831,548 |
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 | -1,607,757 | 1,505,283 |
Components of other comprehensive income that will be reclassified to profit or loss | -13,839,778 | 26,336,831 |
Other comprehensive income, net | -31,848,200 | 31,818,181 |
Total comprehensive income | -29,697,989 | 55,979,590 |
Profit (loss), attributable to: | ||
Profit (loss), attributable to owners of parent | 2,083,851 | 19,825,041 |
Profit (loss), attributable to non-controlling interests | 66,360 | 4,336,368 |
Comprehensive income attributable to: | ||
Comprehensive income, attributable to owners of parent | -28,240,413 | 49,152,460 |
Comprehensive income, attributable to non-controlling interests | -1,457,576 | 6,827,130 |
Basic earnings per share | ||
Basic earnings (loss) per share from continuing operations | 0.15 | 1.43 |
Total basic earnings per share | 0.15 | 1.43 |
Diluted earnings per share | ||
Diluted earnings (loss) per share from continuing operations | 0.15 | 1.41 |
Total diluted earnings per share | 0.15 | 1.41 |
Statements of Cash Flows
Accounting Title | 2020/01/01To2020/03/31 | 2019/01/01To2019/03/31 |
Cash flows from (used in) operating activities, indirect method | ||
Profit (loss) from continuing operations before tax | 5,898,420 | 30,483,478 |
Profit (loss) before tax | 5,898,420 | 30,483,478 |
Adjustments | ||
Adjustments to reconcile profit (loss) | ||
Depreciation expense | 14,640,847 | 15,328,213 |
Amortization expense | 1,096,984 | 351,085 |
Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 878,244 | -199,057 |
Net loss (gain) on financial assets or liabilities at fair value through profit or loss | 217,621 | -10,343,881 |
Interest expense | 11,876,584 | 14,259,256 |
Interest income | -13,650,041 | -15,789,167 |
Dividend income | -45,473 | -211,870 |
Share of loss (profit) of associates and joint ventures accounted for using equity method | 1,386,624 | -1,730,936 |
Loss (gain) on disposal of property, plan and equipment | 24,405 | 53,421 |
Loss (gain) on disposal of investments | -44 | 0 |
Total adjustments to reconcile profit (loss) | 16,425,751 | 1,717,064 |
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 | -328,391 | 3,502,460 |
Decrease (increase) in notes receivable | -253,824 | 377,083 |
Decrease (increase) in accounts receivable | 363,900,877 | 347,848,638 |
Decrease (increase) in accounts receivable due from related parties | 16,279,837 | 13,589,646 |
Decrease (increase) in other receivable | 5,859,019 | 4,686,984 |
Decrease (increase) in inventories | -16,468,461 | 54,455,878 |
Decrease (increase) in prepayments | -2,166,394 | 568,115 |
Total changes in operating assets | 366,822,663 | 425,028,804 |
Changes in operating liabilities | ||
Increase (decrease) in accounts payable | -228,246,829 | -288,735,271 |
Increase (decrease) in accounts payable to related parties | -11,318,753 | -12,526,790 |
Increase (decrease) in other payable | -17,329,283 | -23,694,739 |
Increase (decrease) in provisions | -175,148 | -665,064 |
Increase (decrease) in other current liabilities | 6,040,666 | 3,383,880 |
Increase (decrease) in net defined benefit liability | -16,668 | -17,721 |
Total changes in operating liabilities | -251,046,015 | -322,255,705 |
Total changes in operating assets and liabilities | 115,776,648 | 102,773,099 |
Total adjustments | 132,202,399 | 104,490,163 |
Cash inflow (outflow) generated from operations | 138,100,819 | 134,973,641 |
Income taxes refund (paid) | -5,888,846 | -3,915,677 |
Net cash flows from (used in) operating activities | 132,211,973 | 131,057,964 |
Cash flows from (used in) investing activities | ||
Acquisition of financial assets at fair value through other comprehensive income | -421,511 | -935,903 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 745 | 46,238 |
Acquisition of financial assets at amortised cost | -33,157,365 | -29,640,310 |
Proceeds from repayments of financial assets at amortised cost | 0 | 477,783 |
Acquisition of financial assets at fair value through profit or loss | -2,934,962 | -3,049,006 |
Proceeds from disposal of financial assets at fair value through profit or loss | 72,038 | 12,590,164 |
Acquisition of investments accounted for using equity method | 0 | -476,629 |
Proceeds from disposal of investments accounted for using equity method | 10,199 | 0 |
Acquisition of property, plant and equipment | -14,823,359 | -22,585,578 |
Proceeds from disposal of property, plant and equipment | 1,806,969 | 3,009,724 |
Decrease in other receivables due from related parties | 8,373,351 | 16,413,091 |
Acquisition of intangible assets | -412,000 | 0 |
Acquisition of use-of-right assets | 0 | -213,934 |
Increase in other non-current assets | -729,975 | -214,275 |
Interest received | 21,616,834 | 21,044,394 |
Dividends received | 45,473 | 211,870 |
Other investing activities | -87,721 | 19,257 |
Net cash flows from (used in) investing activities | -20,641,284 | -3,303,114 |
Cash flows from (used in) financing activities | ||
Decrease in short-term loans | -6,673,990 | -164,452,210 |
Increase in short-term notes and bills payable | 0 | 16,047,651 |
Decrease in short-term notes and bills payable | -599,602 | 0 |
Proceeds from issuing bonds | 6,200,000 | 30,820,000 |
Repayments of bonds | -5,200,000 | -1,100,000 |
Proceeds from long-term debt | 294,068 | 18,393,656 |
Repayments of long-term debt | -2,297,356 | -716,794 |
Payments of lease liabilities | -1,794,463 | -1,876,242 |
Increase in other non-current liabilities | 0 | 59,873 |
Decrease in other non-current liabilities | -569,931 | 0 |
Interest paid | -20,358,648 | -19,715,286 |
Change in non-controlling interests | -297,171 | 3,916,224 |
Net cash flows from (used in) financing activities | -31,297,093 | -118,623,128 |
Effect of exchange rate changes on cash and cash equivalents | -6,703,757 | 21,531,334 |
Net increase (decrease) in cash and cash equivalents | 73,569,839 | 30,663,056 |
Cash and cash equivalents at beginning of period | 857,864,362 | 788,662,325 |
Cash and cash equivalents at end of period | 931,434,201 | 819,325,381 |
Cash and cash equivalents reported in the statement of financial position | 931,434,201 | 819,325,381 |
Statements of Changes in Stockholders' Equity
Unit: NT$ thousand
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 |
Changes in equity of associates and joint ventures accounted for using equity method | 0 | 0 | -403,406 | 0 | 0 | -5,316 | -5,316 | 0 | 0 | 0 | 0 | -408,722 | 0 | -408,722 |
Profit (loss) | 0 | 0 | 0 | 0 | 0 | 2,083,851 | 2,083,851 | 0 | 0 | 0 | 0 | 2,083,851 | 66,360 | 2,150,211 |
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13,363,679 | -16,960,585 | -30,324,264 | 0 | -30,324,264 | -1,523,936 | -31,848,200 |
Total comprehensive income | 0 | 0 | 0 | 0 | 0 | 2,083,851 | 2,083,851 | -13,363,679 | -16,960,585 | -30,324,264 | 0 | -28,240,413 | -1,457,576 | -29,697,989 |
Changes in ownership interests in subsidiaries | 0 | 0 | 900,701 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 900,701 | 0 | 900,701 |
Changes in non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -297,171 | -297,171 |
Disposal of investments in equity instruments designated at fair value through other comprehensive income | 0 | 0 | 0 | 0 | 0 | 84 | 84 | 0 | -84 | -84 | 0 | 0 | 0 | 0 |
Increase (decrease) in equity | 0 | 0 | 497,295 | 0 | 0 | 2,078,619 | 2,078,619 | -13,363,679 | -16,960,669 | -30,324,348 | 0 | -27,748,434 | -1,754,747 | -29,503,181 |
Equity at end of period | 138,629,906 | 138,629,906 | 199,880,666 | 149,512,874 | 60,309,927 | 796,693,801 | 1,006,516,602 | -127,253,145 | -5,522,923 | -132,776,068 | -15,194 | 1,212,235,912 | 157,886,324 | 1,370,122,236 |
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