2nd Apr 2013 11:37
HON HAI PRECISION INDUSTRY CO., LTD.AND SUBSIDIARIES FINANCIAL STATEMENTS ANDREPORT OF INDEPENDENT ACCOUNTANTSDECEMBER 31, 2011 AND 2012 | ||
Accounting Title | 2012/12/31 | 2011/12/31 |
Balance Sheet | ||
Assets | ||
Current Assets | ||
Cash and Cash Equivalents | ||
Total Cash and Cash Equivalents | 71,517,954 | 74,149,784 |
Available-for-Sale Financial Assets - Current | ||
Total Available-for-sale Financial Assets - Current | 690,433 | 592,257 |
Accounts Receivable Net | ||
Accounts Receivable - Net | 472,888,155 | 382,890,440 |
Accounts Receivable - Related Parties | ||
Accounts Receivable - Related Parties - Net | 62,720,798 | 57,950,719 |
Other Receivables | ||
Other Receivables - Other | 1,016,559 | 606,048 |
Net Other Receivables | 1,016,559 | 606,048 |
Other Receivables - Related Parties | ||
Net Other Receivables - Related Parties | 377,590,202 | 309,526,062 |
Inventories | ||
Total Inventories | 93,648,034 | 126,489,487 |
Other Prepayments | ||
Total Other Prepayments | 1,420,857 | 1,406,370 |
Other Current Assets | ||
Deferred Income Tax Assets - Current | 2,283,747 | 4,759,524 |
Total Other Current Assets | 2,283,747 | 4,759,524 |
Total Current Assets | 1,083,776,739 | 958,370,691 |
Funds and Investments | ||
Available-for-Sale Financial Assets - Non-current | ||
Total Available-for-sale Financial Assets - Non-current | 2,146,941 | 1,575,600 |
Financial Assets Carried at Cost - Non-current | ||
Total Financial Assets Carried at Cost - Non-current | 191,062 | 291,262 |
Long-term Investments | ||
Long-term Investments under Equity Method | 601,401,616 | 532,795,426 |
Total Long-term Investments | 601,401,616 | 532,795,426 |
Other Financial Assets - Non-current | 23,100 | 23,100 |
Total Funds and Investments | 603,762,719 | 534,685,388 |
Property, Plan and Equipment | ||
Property, Plan and Equipment - Cost | ||
Land | 1,671,640 | 1,671,640 |
Buildings and Structures | 3,613,058 | 3,670,419 |
Machinery and Equipment | 47,416,196 | 53,020,018 |
Molding Equipment | 11,763 | 11,763 |
Testing Equipment | 3,120,912 | 4,887,832 |
Office Equipment | 714,593 | 760,557 |
Maintenance Equipment and Tools | 472 | 3,552 |
Other Facilities | 1,449,265 | 1,535,045 |
Total Property, Plan and Equipment - Cost | 57,997,899 | 65,560,826 |
Cost and Revaluation Increment | 57,997,899 | 65,560,826 |
Accumulated Depreciation | ||
Total Accumulated Depreciation | -33,937,740 | -33,231,500 |
Construction in Process and Prepayment for Equipments | ||
Total Construction in Process and Prepayment for Equipments | 2,767,938 | 1,556,812 |
Fixed Assets - Net | 26,828,097 | 33,886,138 |
Other Assets | ||
Deferred Charges | ||
Total Deferred Charges | 573,854 | 476,386 |
Other Assets-Other | ||
Other Assets-Other | 703,617 | 707,635 |
Total Other Assets - Other | 703,617 | 707,635 |
Other Assets - Net | 1,277,471 | 1,184,021 |
Total Assets | 1,715,645,026 | 1,528,126,238 |
Liabilities | ||
Current Liabilities | ||
Short-term Borrowings | ||
Total Short-term Borrowings | 38,404,076 | 59,754,378 |
Short-term Notes Bills Payable | ||
Net Short-term Notes Bills Payable | 7,991,597 | 7,989,312 |
Accounts Payable | ||
Total Accounts Payable | 106,055,305 | 94,632,674 |
Accounts Payable - Related Parties | ||
Total Accounts Payable - Related Parties | 432,791,798 | 355,935,299 |
Income Tax Payable | 8,805,575 | 10,113,427 |
Accrued Expenses | ||
Total Accrued Expenses | 116,769,211 | 101,164,671 |
Other Payables | ||
Total Other Payables | 211,300,093 | 207,748,685 |
Advance Receipts | ||
Total Advance Receipts | 25,143,427 | 2,141,682 |
Long-term Liabilities - Current Portion | ||
Total Long-term Liabilities - Current Portion | 31,931,536 | 3,000,000 |
Other Current Liabilities | ||
Accrued Warranty Liabilities | 9,291,820 | 19,121,559 |
Other Current Liabilities - Other | 408,085 | 177,609 |
Total Other Current Liabilities | 9,699,905 | 19,299,168 |
Total Current Liabilities | 988,892,523 | 861,779,296 |
Long-term Liabilities | ||
Bond Payable - Non Current | ||
Total Bond Payable | 56,210,000 | 62,378,777 |
Long-term Borrowings | ||
Total Long-term Borrowings | 19,156,400 | 21,920,600 |
Total Long-term Liabilities | 75,366,400 | 84,299,377 |
Other Liabilities | ||
Pension Reserve/Accrued Pension Liability | 900,688 | 871,342 |
Deferred Income Tax | ||
Net Deferred Income Tax | 3,353,326 | 3,241,244 |
Other Liabilities Other | ||
Total Other Liabilities - Other | 599,902 | 103,291 |
Total Other Liabilities | 4,853,916 | 4,215,877 |
Total Liabilities | 1,069,112,839 | 950,294,550 |
Stockholders' Equities | ||
Capital | ||
Common Stock | 118,358,665 | 106,890,967 |
Total Capital | 118,358,665 | 106,890,967 |
Capital Surplus | ||
Capital Surplus - Additional Paid in Capital | ||
Capital Surplus - Additional Paid in Capital - Common Stock | 39,820,178 | 34,724,228 |
Capital Surplus - Additional Paid in Capital - Bond Conversion | 18,482,483 | 18,482,483 |
Total Capital Surplus - Additional Paid in Capital | 58,302,661 | 53,206,711 |
Capital Surplus - Long-term Equity Investments | 16,928,977 | 15,452,488 |
Capital Surplus - Stock Option | 2,034,440 | 2,034,440 |
Total Capital Surplus | 77,266,078 | 70,693,639 |
Retained Earnings | ||
Legal Reserve | 59,980,502 | 51,821,402 |
Unappropriated Retained Earnings | ||
Total Unappropriated Retained Earnings | 385,380,938 | 325,500,402 |
Total Retained Earnings | 445,361,440 | 377,321,804 |
Stockholders' Equities Adjustments | ||
Cumulative Translation Adjustments | 1,395,612 | 21,141,456 |
Unrealized Gains or Losses on Financial Instruments | ||
Total Unrealized Gains or Losses on Financial Instruments | 4,169,293 | 1,802,723 |
Treasury Stock | -18,901 | -18,901 |
Total Stockholders' Equities Adjustments | 5,546,004 | 22,925,278 |
Total Stockholders' Equities | 646,532,187 | 577,831,688 |
Equivalent Issued Shares of Advance Receipts for Common Stock ( Unit: share ) | 0 | 0 |
Number of Treasury Stock Acquired by the Company and Subsidiaries (Unit: share) | 1,302,812 | 1,184,375 |
Accounting Title | 2012/12/31 | 2011/12/31 |
Income Statement | ||
Operating Revenue | ||
Net Sales | ||
Sales | ||
Total Sales | 3,218,928,395 | 2,773,311,378 |
Net Sales | 3,218,928,395 | 2,773,311,378 |
Total Operating Revenue | 3,218,928,395 | 2,773,311,378 |
Operating Costs | ||
Cost of Sales | ||
Total Cost of Sales | 3,066,728,559 | 2,665,484,499 |
Total Operating Costs | -3,066,728,559 | -2,665,484,499 |
Gross Profit (Loss) from Operations | 152,199,836 | 107,826,879 |
Operating Expenses | ||
Selling Expense | ||
Total Selling Expense | 88,233,452 | 57,367,306 |
General and Administrative Expenses | ||
Total General and Administrative Expenses | 6,561,747 | 6,336,949 |
Research and Development Expenses | ||
Total Research and Development Expenses | 11,478,794 | 12,622,338 |
Total Operating Expenses | -106,273,993 | -76,326,593 |
Operating Income (Loss) | 45,925,843 | 31,500,286 |
Non-operating Income and Gains | ||
Interest Income | 239,695 | 182,319 |
Investment Gains | ||
Investment Gains Recognized under Equity Method | 62,582,101 | 61,958,096 |
Dividend Income | 20,643 | 43,642 |
Total Investment Gains | 62,602,744 | 62,001,738 |
Gains on Sale of Investments | 50,382 | 0 |
Revaluation Gain on Financial Assets | 0 | 41,017 |
Revaluation Gain on Financial Liabilities | 9,314 | 135,676 |
Miscellaneous Income | 1,136,093 | 2,117,567 |
Total Non-operating Income and Gains | 64,038,228 | 64,478,317 |
Operating Expenses | ||
Interest Expense | 2,186,975 | 1,827,181 |
Foreign Exchange Losses | 54,900 | 1,839,757 |
Financial Expense | ||
Total Financial Expense | 189,662 | 482,813 |
Revaluation Loss on Financial Assets | 41,181 | 0 |
Miscellaneous Disbursements | 24,585 | 37,378 |
Total Non-operating Expenses | -2,497,303 | -4,187,129 |
Income from Continuing Operations Before Income Tax | 107,466,768 | 91,791,474 |
Income Tax Expense (Benefit) | ||
Total Income Tax Expense (Benefit) | -12,704,391 | -10,200,475 |
Income/(Loss) from Discontinued Operations | 94,762,377 | 81,590,999 |
Net Income/(Loss) | 94,762,377 | 81,590,999 |
Primary Earnings per Share | ||
Income (Loss) from Continuing Operations | 8.03 | 6.94 |
Net Primary Earnings per Share | 8.03 | 6.94 |
Diluted Earnings per Share | ||
Income (Loss) from Continuing Operations | 7.84 | 6.78 |
Net Diluted Earnings per Share | 7.84 | 6.78 |
Accounting Title | 2012/12/31 | 2011/12/31 |
Statement of Cash Flow | ||
Cash Flows from Operating Activities - Indirect Method | ||
Net Income (Loss) | 94,762,377 | 81,590,999 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities | ||
Depreciation Expense | 7,679,615 | 8,319,196 |
Amortization Expense | 1,039,010 | 1,313,430 |
Provision (Reversal of Provision) for Bad Debts Losses | 388,623 | -1,183,157 |
Provision (Reversal of Provision) for Sales Returns, Discounts and Allowances | 591,729 | 0 |
Amortization of Discounts (Premiums) on Financial Liabilities | 2,285 | 0 |
Amortization of Discounts (Premiums) on Bonds Payable | 666,334 | 645,094 |
Effects of Exchange Rate Changes Of Bonds Payable | -1,203,575 | 1,098,312 |
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories | -1,561,557 | 1,937,585 |
Investment Loss (Income) Recognized under Equity Method | -62,582,101 | -61,958,096 |
Cash Dividends Received from Investments Accounted for under Equity Method | 1,193,901 | 1,094,061 |
Loss (Gain) on Disposal of Property, Plan and Equipment | -40,359 | -58,877 |
Loss (Gain) on Disposal of Investments | -50,382 | 7,061 |
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities | 0 | 0 |
Realized Loss (Gain) on Intercompany Transactions | -2,847 | 4,609 |
Other Adjustments to Reconcile Net Income | -2,162,311 | 279,191 |
Total Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities | -56,041,635 | -48,501,591 |
Changes in Operating Assets and Liabilities | ||
Changes in Operating Assets | ||
Decrease (Increase) in Financial Assets Held for Trading | 0 | 0 |
Decrease (Increase) in Notes Receivable | -1,992,657 | 15,777 |
Decrease (Increase) in Accounts Receivable | -88,985,410 | -114,157,206 |
Decrease (Increase) in Accounts Receivable - Related Parties | -4,770,079 | -30,454,427 |
Decrease (Increase) in Other Receivables | 9,561 | -30,377 |
Decrease (Increase) in Inventories | 34,403,010 | -21,207,601 |
Decrease (Increase) in Other Prepayments | -14,487 | 3,910,215 |
Decrease (Increase) in Deferred Tax Assets | 2,475,777 | -1,264,969 |
Total Changes in Operating Assets | -58,874,285 | -163,188,588 |
Changes in Operating Liabilities | ||
Increase (Decrease) in Accounts Payable | 11,422,631 | -3,388,946 |
Increase (Decrease) in Accounts Payable - Related Parties | 76,856,498 | 84,698,214 |
Increase (Decrease) in Income Tax Payable | -1,307,852 | 1,686,042 |
Increase (Decrease) in Accrued Expenses | 20,010,370 | 31,953,804 |
Increase (Decrease) in Other Payables | 9,666,541 | 1,708,236 |
Increase (Decrease) in Receipts in Advance | 23,001,745 | 173,103 |
Increase (Decrease) in Other Current Liabilities | -9,599,179 | 6,335,514 |
Increase (Decrease) in Deferred Tax Liabilities | 112,082 | -510,857 |
Increase (Decrease) in Accrued Pension Liabilities | 29,346 | 12,792 |
Total Changes in Operating Liabilities | 130,192,182 | 122,667,902 |
Total Changes in Operating Assets and Liabilities | 71,317,897 | -40,520,686 |
Net Cash Provided by (Used in) Operating Activities | 110,038,639 | -7,431,278 |
Cash Flows from Investing Activities | ||
Acquisition of Financial Assets as Fair Value through Profit or Loss | 0 | -146,138 |
Acquisition of Available-for-sale Financial Assets | -76,291 | 0 |
Proceeds from Disposal of Financial Assets Carried at Cost | 150,582 | 2,847 |
Acquisition of Investments Accounted for by Equity Method | -22,731,587 | -24,180,101 |
Proceeds from Capital Reduction of Investments Accounted for under Equity Method | 0 | 0 |
Purchase of Property, Plant and Equipment | -5,771,750 | -21,538,628 |
Proceeds from Disposal of Property, Plant and Equipment | 11,334,160 | 2,178,382 |
Increase in Deferred Charges | -1,038,889 | -1,056,214 |
Decrease (Increase) in Other Financial Assets | 0 | 4,984 |
Decrease (Increase) in Other Assets | -93,432 | 59,178 |
Other Investing Activities | -80,254,037 | 25,794,344 |
Net Cash Provided by (Used in) Investing Activities | -98,481,244 | -18,881,346 |
Cash Flows from Financing Activities | ||
Increase (Decrease) in Short-term Loans | -21,350,302 | 27,982,701 |
Increase (Decrease) in Short-term Notes and Bills Payable | 0 | -1,601,976 |
Proceeds from Issuance of Bonds | 26,300,000 | 18,000,000 |
Repayments of Bonds | -3,000,000 | -17,219,400 |
Proceeds from Long-term Debt | 0 | 21,920,600 |
Increase (Decrease) in Other Liabilities | 496,611 | -87,631 |
Cash Dividends Paid | -16,033,645 | -9,661,248 |
Net Cash Provided by (Used in) Financing Activities | -13,587,336 | 39,333,046 |
Effect of Exchange Rate Changes | -601,889 | -279,191 |
Net Increase (Decrease) in Cash and Cash Equivalents | -2,631,830 | 12,741,231 |
Cash and Cash Equivalents at Beginning of Period | 74,149,784 | 61,408,553 |
Cash and Cash Equivalents, End of year | 71,517,954 | 74,149,784 |
Supplemental Cash Flow Information | ||
Interest Paid | 1,346,618 | 964,369 |
Interest Paid- Excluding Capitalized Interest | 1,346,618 | 964,369 |
Income Tax Paid | 11,355,262 | 10,247,811 |
Non-cash Investing and Financing Activities | ||
Unrealized Valuation Gains or Losses on Financial Instruments | 593,226 | -3,927,843 |
Unrealized Gains or Losses on Financial Instruments Recognized due to Equity Changes in Long-term Investments | 1,773,344 | -7,534,564 |
Cumulative Translation Adjustments | -19,745,844 | 30,471,775 |
Investing Activities Affecting Both Cash and Non-cash Items | ||
Cash Paid for Acquisition of Property, Plant and Equipment | ||
Increase in Property, Plant and Equipment | 6,491,667 | 20,992,624 |
Increase (Decrease) in Payable for Equipment Purchased | -719,917 | 546,004 |
Cash Paid for Acquisition of Property, Plant and Equipment | 5,771,750 | 21,538,628 |
Cash Received from Disposal of Property, Plant and Equipment | ||
Proceeds from Disposal of Property, Plant and Equipment | 5,897,917 | 7,613,331 |
Decrease (Increase) in Other Receivables- Disposal of Property, Plant and Equipment | 5,436,243 | -5,434,949 |
Cash received from Disposal of Long-term Investments under Equity Method | 11,334,160 | 2,178,382 |
2012/12/31 Statement of Stockholders' Equity
| Common Stock | Capital Stock | Capital Surplus | Legal Reserve | Unappropriated Retained Earnings | Retained Earnings | Cumulative Translation Adjustments | Treasury Stock | Unrealized Gain or Losses on Financial Instrument | Stockholders' Equities Adjustments | Total Stockholders Equities |
Beginning Balance | 106,890,967 | 106,890,967 | 70,693,639 | 51,821,402 | 325,500,402 | 377,321,804 | 21,141,456 | -18,901 | 1,802,723 | 22,925,278 | 577,831,688 |
Employee Stock Bonus | 778,602 | 778,602 | 5,095,950 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,874,552 |
Net Income or Loss | 0 | 0 | 0 | 0 | 94,762,377 | 94,762,377 | 0 | 0 | 0 | 0 | 94,762,377 |
Legal Reserve Appropriated | 0 | 0 | 0 | 8,159,100 | -8,159,100 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash Dividends of Common Stock | 0 | 0 | 0 | 0 | -16,033,645 | -16,033,645 | 0 | 0 | 0 | 0 | -16,033,645 |
Retained Earnings Transferred to Capital (Stock Dividends) | 10,689,096 | 10,689,096 | 0 | 0 | -10,689,096 | -10,689,096 | 0 | 0 | 0 | 0 | 0 |
Changes in Unrealized Gain or Losses on Available-for-Sale Financial Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 593,226 | 593,226 | 593,226 |
Changes in Translation Adjustment of Foreign Financial Statements | 0 | 0 | 0 | 0 | 0 | 0 | -19,745,844 | 0 | 0 | -19,745,844 | -19,745,844 |
Changes in Equities of Long-term Investments | 0 | 0 | 1,476,489 | 0 | 0 | 0 | 0 | 0 | 1,773,344 | 1,773,344 | 3,249,833 |
Changes | 11,467,698 | 11,467,698 | 6,572,439 | 8,159,100 | 59,880,536 | 68,039,636 | -19,745,844 | 0 | 2,366,570 | -17,379,274 | 68,700,499 |
End of Year | 118,358,665 | 118,358,665 | 77,266,078 | 59,980,502 | 385,380,938 | 445,361,440 | 1,395,612 | -18,901 | 4,169,293 | 5,546,004 | 646,532,187 |
2011/12/31 Statement of Stockholders' Equity
Common Stock | Capital Stock | Capital Surplus | Legal Reserve | Unappropriated Retained Earnings | Retained Earnings | Cumulative Translation Adjustments | Treasury Stock | Unrealized Gain or Losses on Financial Instrument | Stockholders' Equities Adjustments | Total Stockholders Equities | |
Beginning Balance | 96,612,482 | 96,612,482 | 65,011,063 | 44,105,947 | 270,947,354 | 315,053,301 | -9,330,319 | -18,901 | 13,265,130 | 3,915,910 | 480,592,756 |
Employee Stock Bonus | 617,237 | 617,237 | 4,937,891 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,555,128 |
Net Income or Loss | 0 | 0 | 0 | 0 | 81,590,999 | 81,590,999 | 0 | 0 | 0 | 0 | 81,590,999 |
Legal Reserve Appropriated | 0 | 0 | 0 | 7,715,455 | -7,715,455 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash Dividends of Common Stock | 0 | 0 | 0 | 0 | -9,661,248 | -9,661,248 | 0 | 0 | 0 | 0 | -9,661,248 |
Retained Earnings Transferred to Capital (Stock Dividends) | 9,661,248 | 9,661,248 | 0 | 0 | -9,661,248 | -9,661,248 | 0 | 0 | 0 | 0 | 0 |
Changes in Unrealized Gain or Losses on Available-for-Sale Financial Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3,927,843 | -3,927,843 | -3,927,843 |
Changes in Translation Adjustment of Foreign Financial Statements | 0 | 0 | 0 | 0 | 0 | 0 | 30,471,775 | 0 | 0 | 30,471,775 | 30,471,775 |
Changes in Equities of Long-term Investments | 0 | 0 | 744,685 | 0 | 0 | 0 | 0 | 0 | -7,534,564 | -7,534,564 | -6,789,879 |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes |
10,278,485 |
10,278,485 |
5,682,576 |
7,715,455 |
54,553,048 |
62,268,503 |
30,471,775 |
0 |
-11,462,407 |
19,009,368 |
97,238,932 |
End of Year | 106,890,967 | 106,890,967 | 70,693,639 | 51,821,402 | 325,500,402 | 377,321,804 | 21,141,456 |
HON HAI PRECISION INDUSTRY CO., LTD.AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS ANDREPORT OF INDEPENDENT ACCOUNTANTSDECEMBER 31, 2011 AND 2012 | ||
Accounting Title | 2012/12/31 | 2011/12/31 |
Balance Sheet | ||
Assets | ||
Current Assets | ||
Cash and Cash Equivalents | ||
Total Cash and Cash Equivalents | 505,526,956 | 329,793,633 |
Financial Assets Measured at Fair Value through Profit or Loss - Current | ||
Total Financial Assets Measured at Fair Value through Profit or Loss - Current | 140,220 | 70,329 |
Available-for-Sale Financial Assets - Current | ||
Total Available-for-sale Financial Assets - Current | 777,410 | 674,287 |
Accounts Receivable Net | ||
Accounts Receivable - Net | 597,578,990 | 450,757,984 |
Accounts Receivable - Related Parties | ||
Accounts Receivable - Related Parties - Net | 35,469,651 | 25,291,811 |
Other Receivables | ||
Net Other Receivables | 38,235,975 | 34,679,896 |
Other Financial Assets - Current | 947,222 | 46,741,750 |
Inventories | ||
Total Inventories | 349,882,643 | 380,521,794 |
Other Prepayments | ||
Total Other Prepayments | 7,647,041 | 7,119,919 |
Other Current Assets | ||
Deferred Income Tax Assets - Current | 6,751,334 | 8,016,419 |
Total Other Current Assets | 6,751,334 | 8,016,419 |
Total Current Assets | 1,542,957,442 | 1,283,667,822 |
Funds and Investments | ||
Financial Assets Measured at Fair Value through Profit or Loss - Non-current | ||
Total Financial Assets Measured at Fair Value through Profit or Loss - Non-current | 179,300 | 0 |
Available-for-Sale Financial Assets - Non-current | ||
Total Available-for-sale Financial Assets - Non-current | 8,302,853 | 4,790,319 |
Financial Assets Carried at Cost - Non-current | ||
Total Financial Assets Carried at Cost - Non-current | 8,620,722 | 4,046,796 |
Long-term Investments | ||
Long-term Investments under Equity Method | 44,492,047 | 40,259,657 |
Prepayments for Long-term Investments | 982,430 | 1,545 |
Total Long-term Investments | 45,474,477 | 40,261,202 |
Other Financial Assets - Non-current | 854,748 | 24,179 |
Total Funds and Investments | 63,432,100 | 49,122,496 |
Property, Plan and Equipment | ||
Property, Plan and Equipment - Cost | ||
Land | 3,900,934 | 4,225,808 |
Buildings and Structures | 166,307,528 | 151,455,281 |
Machinery and Equipment | 285,431,007 | 246,249,077 |
Molding Equipment | 2,741,721 | 3,633,968 |
Testing Equipment | 24,704,409 | 24,948,040 |
Office Equipment | 15,292,609 | 15,863,541 |
Maintenance Equipment and Tools | 3,539,459 | 3,270,354 |
Other Facilities | 48,275,054 | 43,977,326 |
Total Property, Plan and Equipment - Cost | 550,192,721 | 493,623,395 |
Cost and Revaluation Increment | 550,192,721 | 493,623,395 |
Accumulated Depreciation | ||
Total Accumulated Depreciation | -191,244,750 | -165,396,856 |
Accumulated Impairment on Property, Plan and Equipment | ||
Total Accumulated Impairment on Property, Plan and Equipment | -4,658,696 | -4,432,302 |
Construction in Process and Prepayment for Equipments | ||
Total Construction in Process and Prepayment for Equipments | 36,008,944 | 31,579,244 |
Property, Plan and Equipment - Net | 390,298,219 | 355,373,481 |
Intangible Assets | ||
Patents | 3,448,500 | 0 |
Goodwill | 505,969 | 695,266 |
Intangible Assets - Net | 3,954,469 | 695,266 |
Other Assets | ||
Deferred Charges | ||
Total Deferred Charges | 20,165,075 | 15,101,778 |
Other Assets-Other | ||
Total Other Assets - Other | 23,596,212 | 26,350,582 |
Other Assets - Net | 43,761,287 | 41,452,360 |
Total Assets | 2,044,403,517 | 1,730,311,425 |
Liabilities | ||
Current Liabilities | ||
Short-term Borrowings | ||
Total Short-term Borrowings | 297,572,165 | 260,522,749 |
Short-term Notes Bills Payable | ||
Net Short-term Notes Bills Payable | 7,991,597 | 7,989,312 |
Financial Liabilities Measured at Fair Value through Profit or Loss - Current | ||
Total Financial Liabilities Measured at Fair Value through Profit or Loss - Current | 66,767 | 251,834 |
Accounts Payable | ||
Total Accounts Payable | 602,755,794 | 519,725,102 |
Accounts Payable - Related Parties | ||
Total Accounts Payable - Related Parties | 35,614,847 | 28,769,177 |
Income Tax Payable | 19,177,206 | 19,939,503 |
Accrued Expenses | ||
Total Accrued Expenses | 137,224,165 | 87,322,885 |
Other Payables | ||
Balance Payable-Machinery and Equipment | 49,996,281 | 28,177,904 |
Other Payables-Other | 6,718,815 | 5,835,155 |
Total Other Payables | 56,715,096 | 34,013,059 |
Advance Receipts | ||
Total Advance Receipts | 27,681,170 | 5,584,781 |
Long-term Liabilities - Current Portion | ||
Total Long-term Liabilities - Current Portion | 50,226,736 | 3,000,000 |
Other Current Liabilities | ||
Accrued Warranty Liabilities | 11,415,509 | 21,417,453 |
Other Current Liabilities - Other | 3,583,255 | 3,180,188 |
Total Other Current Liabilities | 14,998,764 | 24,597,641 |
Total Current Liabilities | 1,250,024,307 | 991,716,043 |
Long-term Liabilities | ||
Bond Payable - Non Current | ||
Total Bond Payable | 74,980,461 | 62,378,777 |
Long-term Borrowings | ||
Total Long-term Borrowings | 30,707,957 | 53,600,100 |
Total Long-term Liabilities | 105,688,418 | 115,978,877 |
Other Liabilities | ||
Pension Reserve/Accrued Pension Liability | 1,103,395 | 1,064,300 |
Deferred Income Tax | ||
Net Deferred Income Tax | 468,606 | 1,793,747 |
Other Liabilities Other | ||
Total Other Liabilities - Other | 5,387,638 | 4,738,974 |
Total Other Liabilities | 6,959,639 | 7,597,021 |
Total Liabilities | 1,362,672,364 | 1,115,291,941 |
Stockholders' Equities | ||
Stockholders' Equities of Parent Company | ||
Capital | ||
Common Stock | 118,358,665 | 106,890,967 |
Total Capital | 118,358,665 | 106,890,967 |
Capital Surplus | ||
Capital Surplus - Additional Paid in Capital | ||
Capital Surplus - Additional Paid in Capital - Common Stock | 39,820,178 | 34,724,228 |
Capital Surplus - Additional Paid in Capital - Bond Conversion | 18,482,483 | 18,482,483 |
Total Capital Surplus - Additional Paid in Capital | 58,302,661 | 53,206,711 |
Capital Surplus - Long-term Equity Investments | 16,928,977 | 15,452,488 |
Capital Surplus - Stock Option | 2,034,440 | 2,034,440 |
Total Capital Surplus | 77,266,078 | 70,693,639 |
Retained Earnings | ||
Legal Reserve | 59,980,502 | 51,821,402 |
Unappropriated Retained Earnings | ||
Total Unappropriated Retained Earnings | 385,380,938 | 325,500,402 |
Total Retained Earnings | 445,361,440 | 377,321,804 |
Stockholders' Equities Adjustments | ||
Cumulative Translation Adjustments | 1,395,612 | 21,141,456 |
Unrealized Gains or Losses on Financial Instruments | ||
Total Unrealized Gains or Losses on Financial Instruments | 4,169,293 | 1,802,723 |
Treasury Stock | -18,901 | -18,901 |
Total Stockholders' Equities Adjustments | 5,546,004 | 22,925,278 |
Total Stockholders' Equities of Parent Company | 646,532,187 | 577,831,688 |
Minority Interest | 35,198,966 | 37,187,796 |
Total Stockholders' Equities | 681,731,153 | 615,019,484 |
Equivalent Issued Shares of Advance Receipts for Common Stock ( Unit: share ) | 0 | 0 |
Number of Treasury Stock Acquired by the Company and Subsidiaries (Unit: share) | 1,302,812 | 1,184,375 |
Accounting Title | 2012/12/31 | 2011/12/31 |
Income Statement | ||
Operating Revenue | ||
Net Sales | ||
Sales | ||
Total Sales | 3,905,395,322 | 3,452,681,273 |
Net Sales | 3,905,395,322 | 3,452,681,273 |
Total Operating Revenue | 3,905,395,322 | 3,452,681,273 |
Operating Costs | ||
Cost of Sales | ||
Total Cost of Sales | 3,575,766,285 | 3,186,298,789 |
Total Operating Costs | -3,575,766,285 | -3,186,298,789 |
Gross Profit (Loss) from Operations | 329,629,037 | 266,382,484 |
Operating Expenses | ||
Selling Expense | ||
Total Selling Expense | 104,581,183 | 72,749,672 |
General and Administrative Expenses | ||
Total General and Administrative Expenses | 70,970,421 | 69,941,002 |
Research and Development Expenses | ||
Total Research and Development Expenses | 45,626,952 | 40,846,782 |
Total Operating Expenses | -221,178,556 | -183,537,456 |
Operating Income (Loss) | 108,450,481 | 82,845,028 |
Non-operating Income and Gains | ||
Interest Income | 13,348,559 | 8,424,751 |
Investment Gains | ||
Investment Gains Recognized under Equity Method | 2,792,985 | 3,151,898 |
Dividend Income | 144,580 | 167,904 |
Total Investment Gains | 2,937,565 | 3,319,802 |
Gains on Disposal of Property, Plan and Equipment | 153,958 | 155,628 |
Gains on Sale of Investments | 1,644,484 | 584,107 |
Foreign Exchange Gains | 1,435,180 | 8,981,365 |
Revaluation Gain on Financial Assets | 21,776 | 0 |
Revaluation Gain on Financial Liabilities | 9,314 | 0 |
Miscellaneous Income | 4,381,750 | 5,976,471 |
Total Non-operating Income and Gains | 23,932,586 | 27,442,124 |
Non-operating Expenses | ||
Interest Expense | 9,596,761 | 5,704,004 |
Financial Expense | ||
Total Financial Expense | 189,662 | 482,813 |
Impairment Loss on Assets | ||
Total Impairment Loss on Assets | 3,427,380 | 564,979 |
Revaluation Loss on Financial Assets | 0 | 28,311 |
Revaluation Loss on Financial Liabilities | 0 | 433,239 |
Miscellaneous Disbursements | 790,173 | 537,606 |
Total Non-operating Expenses | -14,003,976 | -7,750,952 |
Income/(Loss) from Discontinued Operations | 118,379,091 | 102,536,200 |
Income Tax Expense (Benefit) | ||
Total Income Tax Expense (Benefit) | -26,591,950 | -20,601,567 |
Income (Loss) from Discontinued Operations | 91,787,141 | 81,934,633 |
Consolidated Net Income | 91,787,141 | 81,934,633 |
Consolidated Net Income | ||
Consolidated Net Income Attributable to Parent Company | 94,762,377 | 81,590,999 |
Minority Interest Income | -2,975,236 | 343,634 |
Primary Earnings per Share | ||
Income (Loss) from Continuing Operations | 7.78 | 6.97 |
Primary Earnings per Share of Minority | 0.25 | -0.03 |
Net Primary Earnings per Share | 8.03 | 6.94 |
Diluted Earnings per Share | ||
Income (Loss) from Continuing Operations | 7.60 | 6.81 |
Diluted Earnings per Share of Minority | 0.24 | -0.03 |
Net Diluted Earnings per Share | 7.84 | 6.78 |
Accounting Title | 2012/12/31 | 2011/12/31 |
Statement of Cash Flow | ||
Cash Flows from Operating Activities - Indirect Method | ||
Consolidated Net Income (Loss) | 91,787,141 | 81,934,633 |
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities | ||
Depreciation Expense | 58,161,542 | 45,661,397 |
Amortization Expense | 9,721,785 | 5,794,344 |
Provision (Reversal of Provision) for Bad Debt Expense | 388,623 | -1,235,775 |
Provision (Reversal of Provision) for Sales Returns, Discounts and Allowances | 591,729 | 0 |
Amortization of Discounts (Premiums) on Bonds Payable | 666,334 | 645,094 |
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories | 2,777,797 | 4,827,280 |
Investment Loss (Income) Recognized under Equity Method | -2,792,985 | -3,151,898 |
Cash Dividends Received from Investments Accounted for under Equity Method | 978,316 | 596,865 |
Loss (Gain) on Disposal of Property, Plan and Equipment | -153,958 | -155,628 |
Loss (Gain) on Disposal of Investments | -1,644,484 | -584,107 |
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities | 9,812 | 205,917 |
Impairment Losses on Financial Asset | 0 | 363,601 |
Impairment Loss on Non-Financial Assets | 3,427,380 | 201,378 |
Total Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities | 72,131,891 | 53,168,468 |
Changes in Operating Assets and Liabilities | ||
Changes in Operating Assets | ||
Decrease (Increase) in Financial Assets Held for Trading | -58,853 | -9,412 |
Decrease (Increase) in Notes Receivable | 4,100 | 6,379,705 |
Decrease (Increase) in Accounts Receivable | -147,805,458 | -64,911,164 |
Decrease (Increase) in Accounts Receivable - Related Parties | -10,177,840 | -6,463,311 |
Decrease (Increase) in Other Receivables | -2,717,896 | -3,786,611 |
Decrease (Increase) in Inventories | 18,919,000 | -125,965,359 |
Decrease (Increase) in Other Prepayments | -527,121 | -1,743,980 |
Decrease (Increase) in Deferred Tax Assets | 1,265,085 | -3,982,176 |
Total Changes in Operating Assets | -141,098,983 | -200,482,308 |
Changes in Operating Liabilities | ||
Increase (Decrease) in Accounts Payable | 83,030,692 | 116,108,004 |
Increase (Decrease) in Accounts Payable - Related Parties | 6,845,670 | 5,232,965 |
Increase (Decrease) in Income Tax Payable | -762,297 | 5,313,499 |
Increase (Decrease) in Accrued Expenses | 55,775,832 | 33,779,206 |
Increase (Decrease) in Other Payables | 883,660 | -968,432 |
Increase (Decrease) in Receipts in Advance | 22,096,389 | -1,223,747 |
Increase (Decrease) in Other Current Liabilities | -9,598,877 | 9,432,667 |
Increase (Decrease) in Deferred Tax Liabilities | -1,325,141 | -1,060,252 |
Increase (Decrease) in Accrued Pension Liabilities | 39,095 | -26,712 |
Total Changes in Operating Liabilities | 156,985,023 | 166,587,198 |
Total Changes in Operating Assets and Liabilities | 15,886,040 | -33,895,110 |
Net Cash Provided by (Used in) Operating Activities | 179,805,072 | 101,207,991 |
Cash Flows from Investing Activities | ||
Acquisition of Financial Assets as Fair Value through Profit or Loss | -384,917 | -112,185 |
Acquisition of Available-for-sale Financial Assets | -7,740,334 | 0 |
Proceeds from Disposal of Available-for-sale Financial Assets | 7,971,912 | 28,489 |
Acquisition of Financial Assets Carried at Cost | -6,093,326 | -963,826 |
Proceeds from Disposal of Financial Assets Carried at Cost | 1,139,173 | 17,918 |
Acquisition of Long-term Investments under Equity Method | -2,806,699 | -854,579 |
Proceeds from Disposal of Long-term Investments under Equity Method | 3,437,782 | 2,293,492 |
Acquisition of Subsidiaries | 0 | -1,278,561 |
Purchase of Property, Plant and Equipment | -70,144,320 | -91,666,421 |
Proceeds from Disposal of Property, Plant and Equipment | 6,093,536 | 4,495,537 |
Decrease (Increase) in Other Financial Assets | 43,731,078 | 15,744,557 |
Decrease (Increase) in Other Assets | -14,844,858 | -13,874,823 |
Other Investing Activities | -3,448,500 | 0 |
Net Cash Provided by (Used in) Investing Activities | -43,089,473 | -86,170,402 |
Cash Flows from Financing Activities | ||
Increase (Decrease) in Short-term Loans | 37,049,416 | 47,184,885 |
Increase (Decrease) in Short-term Notes and Bills Payable | 2,285 | -1,601,976 |
Proceeds from Issuance of Bonds | 45,176,000 | 18,000,000 |
Repayments of Bonds | -3,000,000 | -17,219,400 |
Proceeds from Long-term Debt | 6,214,600 | 22,029,600 |
Repayments of Long-term Debt | -6,653,250 | -16,128,700 |
Increase (Decrease) in Other Liabilities | 648,664 | 665,904 |
Cash Dividends Paid | -16,033,645 | -9,661,248 |
Employee Bonus and Remunerations Paid to Directors and Supervisors | 0 | 0 |
Changes in Minority Interest | 986,406 | 3,990,913 |
Net Cash Provided by (Used in) Financing Activities | 64,390,476 | 47,259,978 |
Effect of Exchange Rate Changes | -25,372,752 | 13,254,743 |
Net Increase (Decrease) in Cash and Cash Equivalents | 175,733,323 | 75,552,310 |
Cash and Cash Equivalents at Beginning of Period | 329,793,633 | 254,241,323 |
Cash and Cash Equivalents, End of year | 505,526,956 | 329,793,633 |
Supplemental Cash Flow Information | ||
Interest Paid | 8,928,971 | 4,673,272 |
Interest Paid- Excluding Capitalized Interest | 8,928,971 | 4,673,272 |
Income Tax Paid | 24,697,266 | 17,021,446 |
Non-cash Investing and Financing Activities | ||
Unrealized Valuation Gains or Losses on Financial Instruments | 2,026,951 | -8,892,143 |
Unrealized Gains or Losses on Financial Instruments Recognized due to Equity Changes in Long-term Investments | 339,619 | -2,570,264 |
Investing Activities Affecting Both Cash and Non-cash Items | ||
Cash Paid for Acquisition of Property, Plant and Equipment | ||
Increase in Property, Plant and Equipment | 93,450,555 | 108,335,664 |
Increase (Decrease) in Payable for Equipment Purchased | -23,306,235 | -16,669,243 |
Cash Paid for Acquisition of Property, Plant and Equipment | 70,144,320 | 91,666,421 |
2012/12/31 Statement of Stockholders' Equity
| Common Stock | Capital Stock | Capital Surplus | Legal Reserve | Unappropriated Retained Earnings | Retained Earnings | Cumulative Translation Adjustments | Treasury Stock | Unrealized Gains or Losses on Financial Instrument | Stockholders' Equities Adjustments | Total Parent Company Stockholders' Equities | Minority Interest | Total Stockholders Equities |
Beginning Balance |
106,890,967 |
106,890,967 |
70,693,639 |
51,821,402 |
325,500,402 |
377,321,804 |
21,141,456 |
-18,901 |
1,802,723 |
22,925,278 |
577,831,688 |
37,187,796 |
615,019,484 |
Employee Stock Bonus | 778,602 | 778,602 | 5,095,950 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,874,552 | 0 | 5,874,552 |
Consolidated Net Income | 0 | 0 | 0 | 0 | 94,762,377 | 94,762,377 | 0 | 0 | 0 | 0 | 94,762,377 | -2,975,236 | 91,787,141 |
Legal Reserve Appropriated | 0 | 0 | 0 | 8,159,100 | -8,159,100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash Dividends of Common Stock | 0 | 0 | 0 | 0 | -16,033,645 | -16,033,645 | 0 | 0 | 0 | 0 | -16,033,645 | 0 | -16,033,645 |
Retained Earnings Transferred to Capital (Stock Dividends) | 10,689,096 | 10,689,096 | 0 | 0 | -10,689,096 | -10,689,096 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes in Unrealized Gain or Losses on Available-for-Sale Financial Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,026,951 | 2,026,951 | 2,026,951 | 0 | 2,026,951 |
Changes in Foreign Exchange Gain or Loss due to the Translation of Foreign Currency Financial Statements | 0 | 0 | 0 | 0 | 0 | 0 | -19,745,844 | 0 | 0 | -19,745,844 | -19,745,844 | 0 | -19,745,844 |
Changes in Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 986,406 | 986,406 |
Changes in Equities of Long-term Investments | 0 | 0 | 1,476,489 | 0 | 0 | 0 | 0 | 0 | 339,619 | 339,619 | 1,816,108 | 0 | 1,816,108 |
Changes | 11,467,698 | 11,467,698 | 6,572,439 | 8,159,100 | 59,880,536 | 68,039,636 | -19,745,844 | 0 | 2,366,570 | -17,379,274 | 68,700,499 | -1,988,830 | 66,711,669 |
End of Year | 118,358,665 | 118,358,665 | 77,266,078 | 59,980,502 | 385,380,938 | 445,361,440 | 1,395,612 | -18,901 | 4,169,293 | 5,546,004 | 646,532,187 | 35,198,966 | 681,731,153 |
2011/12/31 Statement of Stockholders' Equity
| Common Stock | Capital Stock | Capital Surplus | Legal Reserve | Unappropriated Retained Earnings | Retained Earnings | Cumulative Translation Adjustments | Treasury Stock | Unrealized Gains or Losses on Financial Instrument | Stockholders' Equities Adjustments | Total Parent Company Stockholders' Equities | Minority Interest | Total Stockholders Equities |
Beginning Balance | 96,612,482 | 96,612,482 | 65,011,063 | 44,105,947 | 270,947,354 | 315,053,301 | -9,330,319 | -18,901 | 13,265,130 | 3,915,910 | 480,592,756 | 32,853,249 | 513,446,005 |
Employee Stock Bonus | 617,237 | 617,237 | 4,937,891 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,555,128 | 0 | 5,555,128 |
Consolidated Net Income | 0 | 0 | 0 | 0 | 81,590,999 | 81,590,999 | 0 | 0 | 0 | 0 | 81,590,999 | 343,634 | 81,934,633 |
Legal Reserve Appropriated | 0 | 0 | 0 | 7,715,455 | -7,715,455 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash Dividends of Common Stock | 0 | 0 | 0 | 0 | -9,661,248 | -9,661,248 | 0 | 0 | 0 | 0 | -9,661,248 | 0 | -9,661,248 |
Retained Earnings Transferred to Capital (Stock Dividends) | 9,661,248 | 9,661,248 | 0 | 0 | -9,661,248 | -9,661,248 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes in Unrealized Gain or Losses on Available-for-Sale Financial Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,892,143 | -8,892,143 | -8,892,143 | 0 | -8,892,143 |
Changes in Foreign Exchange Gain or Loss due to the Translation of Foreign Currency Financial Statements | 0 | 0 | 0 | 0 | 0 | 0 | 30,471,775 | 0 | 0 | 30,471,775 | 30,471,775 | 0 | 30,471,775 |
Changes in Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,990,913 | 3,990,913 |
Changes in Equities of Long-term Investments | 0 | 0 | 744,685 | 0 | 0 | 0 | 0 | 0 | -2,570,264 | -2,570,264 | -1,825,579 | 0 | -1,825,579 |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Changes | 10,278,485 | 10,278,485 | 5,682,576 | 7,715,455 | 54,553,048 | 62,268,503 | 30,471,775 | 0 | -11,462,407 | 19,009,368 | 97,238,932 | 4,334,547 | 101,573,479 |
End of Year | 106,890,967 | 106,890,967 | 70,693,639 | 51,821,402 | 325,500,402 | 377,321,804 | 21,141,456 | -18,901 | 1,802,723 | 22,925,278 | 577,831,688 | 37,187,796 | 615,019,484 |
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