NANYA TECHNOLOGY CORPORATION AND SUBSIDIARIES
Consolidated Financial Statements for the Three-month Ended
March 31, 2010 and 2011
(The Consolidated Financial Statements
is not Reviewed by chartered Accountants’)
(The Consolidated Financial Statements is not Reviewed by chartered Accountants’)
NANYA TECHNOLOGY CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
March 31, 2010 and 2011
(Expressed in thousands of New Taiwan dollars)
2010
Amount
Assets
Current assets:
Cash and cash equivalents
$
Notes and accounts receivable, net of allowance for doubtful accounts of
NT$11,911and NT$11,438 thousands dollars.
Accounts receivable—related parties
Other receivables
Other receivables—related parties
Inventories, net
Prepayments
Deferred income tax assets, net—current
Total current assets
Funds and long-term investments:
Long-term investments carried on the equity method
Available-for-sale financial assets—non-current
Total Funds and long-term investments
Property, plant and equipment:
Land
Buildings and building improvements
Machinery and equipment
Transportation equipment
Leased assets
Miscellaneous equipment
Less: accumulated depreciation
Construction in progress
Net property, plant and equipment
3,284,051
10,193,016
-
2010
%
Liabilities and Stockholders’ Equity
4
6
5,494,962
7,207,744
-
19
1,961
1,502,708
171,479
9,241,234
1,368,191
8,237
24,996,516
19
20,061,320
338,840
20,400,160
16
16
15,004,044
235,844
15,239,888
12
12
1,013,924
5,235,926
109,501,155
28,289
345,637
1,592,368
117,717,299
(60,325,824)
15,144,680
72,536,155
1
4
86
1
92
(47)
12
57
1,013,924
5,247,189
132,456,911
7,221
345,637
1,872,716
140,943,598
(75,191,848)
14,015,291
79,767,041
1
4
103
1
109
(58)
11
62
1,601,271
2,881,660
4,482,931
Other assets:
Refundable deposits
Deferred charges
Lease receivable—long-term
Deferred income tax assets, net—non-current
Miscellaneous assets
Restricted current assets
Total other assets
8,411
46,433
2,777,621
3,224,355
93
20,460
6,077,373
$ 127,863,801
See accompanying notes to financial statements.
This document is an English translation of a financial statement originally issued in Chinese.
3
8
99
1,569,174
350,664
8,225,778
740,567
3,833
24,367,182
Intangible assets:
Patents
Other intangible assets
Total intangible assets
Total assets
2011
Amount
%
1
6
1
1
2
3
-
5
100
128,608,766
-
7
1
1,111,857
1,430,419
2,542,276
72,697
33,639
2,624,356
3,246,260
64,787
21,306
6,063,045
2
3
1
-
1
1
2
2
3
Current liabilities:
Short-term loans
Notes and accounts payable
Accounts payable－related parties
Accrued expenses
Financial liabilities reported as fair value through profit or loss－current
Other payables－related parties
Current portion of bonds payable
Current portion of long-term loans
Other current liabilities
Total current liabilities
Amount
Amount
%
1,545,500
5,130,121
4,058,400
3,503,837
260,592
9,083,512
13,030,000
10,669,359
8,448
47,289,769
1
4
3
3
7
10
9
37
4,084,326
3754,488
3,367,319
180,801
36,215,812
5,390,000
14,015,967
86,140
67,094,853
28
4
12
53
Long-term liabilities:
Bonds payable
Long-term loans
Long-term accounts payable
Lease payables－long-term
Total long-term liabilities
7,079,200
36,258,141
194,259
315,769
43,847,369
6
28
34
1,694,932
35,277,383
309,467
37,281,782
1
28
29
Other liabilities:
Accrued pension liabilities
Guarantee deposits
Miscellaneous liabilities
Total other liabilities
Total liabilities
379,609
135,635
114,092
629,336
91,766,474
71
392,372
118,218
110,501
621,091
104,997,726
82
34,279,255
17,417
13,752,136
(11,867,993)
2,412
252,929
(347,533)
36,088,623
8,704
36,097,327
27
11
(9)
29
29
40,345,755
17,847,268
(34,405,096)
(9,483)
149,932
(347,533)
23,580,843
30,197
23,611,040
31
14
(27)
18
18
128,608,766
100
Stockholders’ equity:
Common stock
Advance receipts for capital stock
Capital surplus
Accumulated deficit
Cumulative translation adjustments
Unrealized loss on financial instruments
Treasury stock
Total stockholders’ equity
Minority interest
Total stockholders’ equity and minority interest
Commitments and contingencies
$
2011
%
3
3
3
5
100
Total liabilities and stockholders’ equity
In the event of a conflict between the English translation and the original Chinese version, the Chinese language financial statement shall prevail.
$ 127,863,801
100
(The Consolidated Financial Statements is not Reviewed by chartered Accountants’)
NANYA TECHNOLOGY CORPORATION AND SUBSIDIARIES
Consolidated Statements of Operations
For the three-month periods ended March 31, 2010 and 2011
(Expressed In Thousands of New Taiwan Dollars, Except Earnings Per Share)
2010
Amount
$
Operating revenues, net
Operating costs
Gross (loss) profit
Operating expenses
Selling expenses
Administrative expenses
Research and development expenses
Total operating expenses
Operating loss
Non-operating income and gains:
Interest income
Gain on disposal of property, plant and equipment
Foreign exchange gain, net
Gain on valuation of financial assets
Gain on valuation of financial liabilities
Miscellaneous income
Total non-operating income and gains
100
(98)
2
10,864,188
(16,136,834)
(5,272,646)
100
(149)
(49)
(175,182)
(287,693)
(1,014,731)
(1,477,606)
(1,200,023)
(1)
(2)
(7)
(10)
(8)
(192,854)
(112,742)
(2,033,228)
(2,338,824)
(7,611,470)
(2)
(1)
(19)
(22)
(71)
1
2
79,041
203
165,821
31,177
71,798
348,040
(338,159)
(2)
(373,117)
(3)
(303,175)
(1,428)
(14,228)
(13,795)
(670,785)
(2)
(4)
(1,197,382)
(68)
(65,412)
(131,441)
(1,767,420)
(11)
(1)
(1)
(16)
$
(1,623,616)
(1,861)
(1,625,477)
(10)
(10)
(9,030,850)
(761)
(9,031,611)
(83)
(83)
$
(1,625,186)
(291)
(1,625,477)
(10)
(10)
(9,030,751)
(860)
(9,031,611)
(83)
(83)
Consolidated net loss
Net loss of minority interest
Net loss per common share (in dollars)
Basic loss per share
%
14,250,513
(13,972,930)
277,583
76,130
675
57,987
8
24,542
87,850
247,192
Non-operating expenses and losses:
Interest expenses (excluding capitalized interest of NT$26,848 thousand
and NT$24,934 thousand for 2010 and 2011, respectively)
Investment loss recognized under equity method
Loss on disposal of property, plant and equipment
Impairment loss
Miscellaneous disbursements
Total non-operating expenses and losses
Loss before income tax
Income tax expenses
Net loss
2011
Amount
%
1
-
1
2
1
4
Before
After
Before
After
Income tax Income tax Income tax Income tax
$ (0.48)
(0.48)
(2.24)
(2.24)
See accompanying notes to financial statements.
This document is an English translation of a financial statement originally issued in Chinese.
the Chinese language financial statement shall prevail.
In the event of a conflict between the English translation and the original Chinese version,
(The Consolidated Financial Statements is not Reviewed by chartered Accountants’)
NANYA TECHNOLOGY CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the three-month periods ended March 31, 2010 and 2011
(Expressed in thousands of New Taiwan Dollars)
2010
2011
(1,625,477)
(9,031,611)
3,203,231
516,140
4,972
8,433
(2,836)
303,175
753
(24,542)
14,228
(11,744)
(75,000)
27
4,200,196
492,441
4,764
74,750
(369,966)
1,197,382
(135)
(31,177)
65,412
(167,982)
(71,448)
(88)
290,004
1,717,604
333,943
(279,410)
(94,517)
2,002,113
1,348,117
(120,559)
191,381
456,392
(1,353,899)
(25,583)
2,488
751
3,359,133
329,981
(376,847)
(62,096)
3,345
(1,883)
(304,375)
(4,426,607)
(7,183,853)
139,247
(4,141)
414
(100,229)
(77)
(11,575,246)
(5,991,771)
115
(1,941)
(500)
186
107,333
(16,367)
(5,902,945)
(162,624)
5,030,000
(14,754)
(7,996,400)
(1,433)
(28,729)
263,029
8,994
(2,901,917)
(5,267)
(204)
(11,123,501)
14,407,552
3,284,051
(200,000)
3,200,000
(6,983,034)
(16,139)
9,501,488
(1,519)
5,500,796
18,049
(708,010)
6,202,972
5,494,962
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash provided by:
Depreciation
Amortization
Compensation costs on employee stock option plans
Amortization of discount on bonds payable and long-term loans
Gain on inventory valuation and obsolescence
Investment loss recognized under equity method
Loss (gain) on disposal of property, plant and equipment, net
Gain on valuation of financial assets
Impairment loss
Unrealized foreign currency exchange gain, net
Unrealized interest revenue amortization
Increase (decrease) in deferred income tax assets, net
Change in operating assets and liabilities:
Change in operating assets:
Decrease financial asset feld for trading
Decrease in notes and accounts receivable
Decrease in other receivables
Increase in inventory
(Increase) decrease in prepayments
Change in operating liabilities:
Increase in notes and accounts payable
Decrease in accrued expenses
Decrease in other current liabilities
Increase in accrued pension liability
Increase (decrease) in miscellaneous liabilities
Net cash (used in) provided by operating activities
Cash flows from investing activities:
Acquisition of investments accounted for equity method
Purchases of property, plant and equipment
Proceeds from sales of property, plant and equipment
Increase in refundable deposits
Increase in deferred expense
Restricted current assets
(Increase) decrease in lease receivable
Increase in miscellaneous assets
Net cash used in investing activities
Cash flows from financing activities:
Decrease in short-term loans
Increase from long-term loans
Decrease from long-term loans
Decrease in guarantee deposits
(Decrease) increase in other payables from related parties
Decrease in lease payable
Decrease in long-term accounts payable
Issuance of common stock for exercise of employee stock options
Increase in minority interest
Net cash (used in) provided by financing activities
Effect of foreign currency exchange translation
Effect of subsidiaries initial consolidated
Decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Supplemental cash flow information:
Interest paid
Less: Capitalized interest
Interest paid excluding capitalized interest
Income tax paid
Supplemental schedule of non-cash investing and financing activities:
Current portion of Long-term loans
Current portion of bonds payable
Cash paid for acquisition of properties:
Total acquisition
Increase in accounts payable-machinery and equipment, net
Cash paid for acquisition of properties
$
$
$
$
$
264,731
26,848
237,883
1,862
359,907
24,934
334,973
761
$
$
10,669,359
13,030,000
14,015,967
5,390,000
$
$
$
(7,274,406)
90,553
(7,183,853)
(6,403,082)
411,311
(5,991,771)
(Continued)