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o
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R
EGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
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x
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A
NNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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F
or the fiscal year ended December 31, 2014
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o
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T
RANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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SHELL
COMPANY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Title of Each Class
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Name of Each Exchange on which Registered
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Common Shares, par value NT$10.00 each
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The New York Stock Exchange*
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·
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“2014 Bonds” are to RMB150.0 million 3.125% Guaranteed Bonds due September 22, 2014, issued by Anstock Limited, our wholly owned subsidiary incorporated in the Cayman Islands;
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·
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“2016 Bonds” are to RMB500.0 million 4.250% Guaranteed Bonds due September 20, 2016, issued by Antock Limited;
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·
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“ASE,” the “Company,” “ASE Group,” “ASE Inc.,” “we,” “us,” or “our” are to Advanced Semiconductor Engineering, Inc. and, unless the context requires otherwise, its subsidiaries;
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·
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“ASE Chung Li” are to ASE (Chung Li) Inc., a company previously incorporated under the laws of the ROC that merged into ASE Inc. on August 1, 2004;
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·
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“ASE Electronics” are to ASE Electronics Inc., a company incorporated under the laws of the ROC;
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·
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“ASE Japan” are to ASE Japan Co. Ltd., a company incorporated under the laws of Japan;
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·
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“ASE Korea” are to ASE (Korea) Inc., a company incorporated under the laws of the Republic of Korea;
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·
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“ASE Material” are to ASE Material Inc., a company previously incorporated under the laws of the ROC that merged into ASE Inc. on August 1, 2004;
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·
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“ASE Shanghai” are to ASE (Shanghai) Inc., a company incorporated under the laws of the PRC;
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·
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“ASE Test” are to ASE Test Limited, a company incorporated under the laws of Singapore;
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·
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“ASE Test Malaysia” are to ASE Electronics (M) Sdn. Bhd., a company incorporated under the laws of Malaysia;
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·
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“ASE Test Taiwan” are to ASE Test, Inc., a company incorporated under the laws of the ROC;
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·
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“ASEKS” are to ASE (KunShan) Inc., a company incorporated under the laws of the PRC;
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·
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“ASEN” are to Suzhou ASEN Semiconductors Co., Ltd., a company incorporated under the laws of the PRC;
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·
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“ASESH AT” are to ASE Assembly & Test (Shanghai) Limited, formerly known as Global Advanced Packaging Technology Limited, or GAPT, a company incorporated under the laws of the PRC;
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·
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“ASEWH” are to ASE (Weihai), Inc., a company incorporated under the laws of the PRC;
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·
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“Bonds” are to the 2014 Bonds and 2016 Bonds;
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·
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“California case” are to the complaint Tessera filed against the Company and its U.S. Subsidiary, ASE (U.S) Inc. in 2006, but was later dismissed in October 2014;
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·
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“Capital Increase” are to issuance of 130,000,000 common shares for public subscription which was effected by way of an increase in the authorized share capital in the amount of NT$1,300.0 million of the Company in September 2013;
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·
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“Corporate Bonds” are to NT$8.0 billion 1.450% secured corporate bonds with five year term issued in August 2011 by the Company;
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·
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“Deposit Agreement” are to deposit agreement dated September 29, 2000 among Citibank, N.A., as depositary, holders and beneficial owners of ADSs and us, which was filed as an exhibit to our
registration statement on post-effective amendment No. 2 to Form F-6 on September 16, 2003, and its two amendments, which were filed as an exhibit to our registration statement on post-effective amendment No. 1 to Form F-6 on April 3, 2006 and our registration statement on post-effective amendment No. 2 to Form F-6 on October 25, 2006;
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·
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“EEMS Test Singapore” are to EEMS Test Singapore Pte. Ltd., a company incorporated under the laws of Singapore, which changed its name to ASE Singapore II Pte. Ltd. and was subsequently merged into ASE Singapore Pte. Ltd. on January 1, 2011;
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·
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the “Exchange Act” are to the U.S. Securities Exchange Act of 1934, as amended;
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“FSC” are to the Financial Supervisory Commission of the Republic of China.
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“Green Bonds” are to US$300.0 million 2.125% Guaranteed Bonds due July 24, 2017, offered by Anstock II Limited, our wholly owned subsidiary incorporated in the Cayman Islands;
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·
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“Hung Ching” are to Hung Ching Development & Construction Co. Ltd., a company incorporated under the laws of the ROC;
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·
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“IFRS” are to International Financial Reporting Standards, International Accounting Standards and Interpretations as issued by the International Accounting Standards Board;
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“ISE Labs” are to ISE Labs, Inc., a corporation incorporated under the laws of the State of California;
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“ITC” are to the United States International Trade Commission;
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“Korea” or “South Korea” are to the Republic of Korea;
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“Mainland Investors Regulations” are to the Regulations Governing Securities Investment and Futures Trading in Taiwan by Mainland Area Investors;
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“MOEAIC” are to Investment Commission of the ROC Ministry of Economic Affairs;
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“PowerASE” are to PowerASE Technology, Inc., a company incorporated under the laws of the ROC which was merged into ASE Inc. in May 2012;
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·
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“PRC” are to the People’s Republic of China and excludes Taiwan, Macau and Hong Kong;
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“PRC Regulations” are to the Regulations Governing Mainland China Investors’ Securities Investments and Futures Trading in Taiwan;
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“QDII” are to qualified domestic institutional investors;
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“Republic of China,” the “ROC” and “Taiwan” are to the Republic of China, including Taiwan and certain other possessions;
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“ROC GAAP” are to generally accepted accounting principles in the ROC;
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the “SEC” are to the Securities and Exchange Commission of the U.S.;
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·
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the “Securities Act” are to the U.S. Securities Act of 1933, as amended;
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·
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“SiP” are to system-in-package;
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·
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“Taiwan-IFRS” are to the Regulations Governing the Preparation of Financial Reports by Securities Issuers, the IFRS as well as related guidance translated by Accounting Research and Development Foundation and endorsed by the FSC.
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·
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“Tessera” are to Tessera, Inc., a company which filed a suit against the Company
and its U.S. subsidiary, ASE (U.S.) Inc.;
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·
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“UGJQ” are to Universal Global Technology (Shanghai) Co., Ltd., a company incorporated under the laws of the PRC;
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·
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“UGKS” are to Universal Global Technology (Kunshan) Co. Ltd., a company incorporated under the laws of the PRC;
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·
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“UGTW” are to Universal Global Scientific Industrial Co. Ltd., a company incorporated under the laws of the ROC;
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·
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“Universal Scientific” or “USI” are to Universal Scientific Industrial Co., Ltd., a company incorporated under the laws of the ROC, and, unless the context requires otherwise, “Universal Scientific Group” are to Universal Scientific, and its directly and indirectly held subsidiaries;
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·
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“Universal Scientific Shanghai” are to Universal Scientific Industrial (Shanghai) Co., Ltd., a company incorporated under the laws of the PRC;
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·
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“U.S.” refers to United States of America;
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·
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“US GAAP” are to accounting principles generally accepted in the U.S.;
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·
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“USI, Inc.” are to a new corporation, which is expected to be incorporated under ROC law on a spin-off record date once the proposed USI Spin-Off transaction is approved by the MOEAIC;
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·
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“USI Spin-Off transaction” are to the proposed spin-off transaction whereby Universal Scientific proposes to spin-off and assign its investment businesses to a new entity, and the proposed transaction is currently being reviewed by the MOEAIC;
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·
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“USI Mexico” are to Universal Scientific Industrial De Mexico S.A. DE C.V., a company incorporated under the laws of Mexico;
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“USISZ” are to Universal Electronics (Shenzhen) Co. Ltd., a company incorporated under the laws of the PRC;
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“Wuxi Tongzhi” are to Wuxi Tongzhi Microelectronics Co., Ltd., a company incorporated under the laws of the PRC; and
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·
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“Yang Ting” are to Yang Ting Tech Co., Ltd., a company incorporated under the laws of the ROC which was merged into ASE Inc. in August 2013.
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As of and for the Year Ended December 31,
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||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$
|
|||||||||||||
(in millions, except earnings per share and per ADS data)
|
||||||||||||||||
Statement of Comprehensive Income Data
:
|
||||||||||||||||
Operating revenues
|
193,972.4 | 219,862.4 | 256,591.4 | 8,120.0 | ||||||||||||
Operating costs
|
(157,342.7 | ) | (177,040.4 | ) | (203,002.9 | ) | (6,424.1 | ) | ||||||||
Gross profit
|
36,629.7 | 42,822.0 | 53,588.5 | 1,695.9 | ||||||||||||
Operating expenses
|
(18,922.6 | ) | (20,760.4 | ) | (23,942.7 | ) | (757.7 | ) | ||||||||
Other income and expenses, net
|
83.2 | (1,348.2 | ) | 228.7 | 7.2 | |||||||||||
Profit from operations
|
17,790.3 | 20,713.4 | 29,874.5 | 945.4 | ||||||||||||
Non-operating expense, net
|
(1,181.6 | ) | (1,343.6 | ) | (1,339.4 | ) | (42.4 | ) | ||||||||
Profit before income tax
|
16,608.7 | 19,369.8 | 28,535.1 | 903.0 | ||||||||||||
Income tax expense
|
(2,960.4 | ) | (3,499.6 | ) | (5,666.0 | ) | (179.3 | ) | ||||||||
Profit for the year
|
13,648.3 | 15,870.2 | 22,869.1 | 723.7 | ||||||||||||
Attributable to
|
||||||||||||||||
Owners of the Company
|
13,191.6 | 15,404.5 | 22,228.6 | 703.4 | ||||||||||||
Non-controlling interests
|
456.7 | 465.7 | 640.5 | 20.3 | ||||||||||||
|
13,648.3 | 15,870.2 | 22,869.1 | 723.7 | ||||||||||||
Other comprehensive income (loss), net of income tax
|
(3,830.7 | ) | 3,233.3 | 5,504.4 | 174.2 | |||||||||||
Total comprehensive income for the year
|
9,817.6 | 19,103.5 | 28,373.5 | 897.9 | ||||||||||||
Attributable to
|
||||||||||||||||
Owners of the Company
|
9,420.4 | 18,509.6 | 27,394.3 | 866.9 |
As of and for the Year Ended December 31,
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$
|
|||||||||||||
(in millions, except earnings per share and per ADS data)
|
||||||||||||||||
Non-controlling interests
|
397.2 | 593.9 | 979.2 | 31.0 | ||||||||||||
9,817.6 | 19,103.5 | 28,373.5 | 897.9 | |||||||||||||
Earnings per common share
(1)
:
|
||||||||||||||||
Basic
|
1.77 | 2.05 | 2.89 | 0.09 | ||||||||||||
Diluted
|
1.73 | 1.99 | 2.79 | 0.09 | ||||||||||||
Dividends per common share
(2)
|
2.05 | 1.05 | 1.29 | 0.04 | ||||||||||||
Earnings per equivalent ADS
(1)
:
|
||||||||||||||||
Basic
|
8.86 | 10.26 | 14.46 | 0.46 | ||||||||||||
Diluted
|
8.65 | 9.96 | 13.93 | 0.44 | ||||||||||||
Number of common shares
(3)
:
|
||||||||||||||||
Basic
|
7,445.5 | 7,508.5 | 7,687.9 | 7,687.9 | ||||||||||||
Diluted
|
7,568.2 | 7,747.6 | 8,220.7 | 8,220.7 | ||||||||||||
Number of equivalent ADSs
|
||||||||||||||||
Basic
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1,489.1 | 1,501.7 | 1,537.6 | 1,537.6 | ||||||||||||
Diluted
|
1,513.6 | 1,549.5 | 1,644.1 | 1,644.1 | ||||||||||||
Balance Sheet Data:
|
||||||||||||||||
Current assets
|
97,495.6 | 132,176.5 | 159,955.2 | 5,061.9 | ||||||||||||
Investments- non-current
(4)
|
2,267.8 | 2,345.5 | 2,409.3 | 76.2 | ||||||||||||
Property, plant and equipment, net
|
127,197.8 | 131,497.3 | 151,587.1 | 4,797.1 | ||||||||||||
Intangible assets
|
12,361.3 | 11,953.6 | 11,913.3 | 377.0 | ||||||||||||
Long-term prepayment for lease
|
4,164.1 | 4,072.3 | 2,586.0 | 81.8 | ||||||||||||
Others
(5)
|
4,236.0 | 4,676.9 | 5,267.9 | 166.7 | ||||||||||||
Total assets
|
247,722.6 | 286,722.1 | 333,718.8 | 10,560.7 | ||||||||||||
Short-term borrowings
|
36,884.9 | 44,618.2 | 41,176.0 | 1,303.1 | ||||||||||||
Current portion of long-term debts
|
3,213.8 | 6,016.5 | 2,835.5 | 89.7 | ||||||||||||
Long-term debts
(6)
|
44,591.7 | 50,166.5 | 55,375.8 | 1,752.4 | ||||||||||||
Other liabilities
(7)
|
53,211.8 | 60,176.9 | 78,640.1 | 2,488.6 | ||||||||||||
Total liabilities
|
137,902.2 | 160,978.1 | 178,027.4 | 5,633.8 | ||||||||||||
Share capital
|
76,047.7 | 78,180.3 | 78,715.2 | 2,491.0 | ||||||||||||
Non-controlling interests
|
3,505.7 | 4,128.4 | 8,209.9 | 259.8 | ||||||||||||
Equity attributable to owners of the Company
|
106,314.7 | 121,615.6 | 147,481.5 | 4,667.1 | ||||||||||||
Cash Flow Data:
|
||||||||||||||||
Capital expenditures
|
(39,029.5 | ) | (29,142.7 | ) | (39,599.0 | ) | (1,253.1 | ) | ||||||||
Depreciation and amortization
|
23,435.9 | 25,470.9 | 26,350.8 | 833.9 | ||||||||||||
Net cash inflow from operating activities
|
33,038.0 | 41,296.0 | 45,863.5 | 1,451.4 | ||||||||||||
Net cash outflow from investing activities
|
(43,817.8 | ) | (29,925.8 | ) | (38,817.9 | ) | (1,228.4 | ) | ||||||||
Net cash inflow (outflow) from financing activities
|
8,455.8 | 12,794.9 | (2,797.0 | ) | (88.5 | ) | ||||||||||
Segment Data:
|
||||||||||||||||
Operating revenues:
|
||||||||||||||||
Packaging
|
104,298.3 | 112,603.9 | 121,336.5 | 3,839.8 | ||||||||||||
Testing
|
22,657.0 | 24,732.2 | 25,874.7 | 818.8 | ||||||||||||
Electronic manufacturing services
|
62,747.7 | 78,530.6 | 105,784.4 | 3,347.6 | ||||||||||||
Others
|
4,269.4 | 3,995.7 | 3,595.8 | 113.8 | ||||||||||||
Gross profit:
|
||||||||||||||||
Packaging
|
19,812.5 | 23,673.7 | 33,040.2 | 1,045.6 | ||||||||||||
Testing
|
7,601.0 | 9,079.4 | 9,632.0 | 304.8 | ||||||||||||
Electronic manufacturing services
|
7,241.3 | 8,054.3 | 9,118.9 | 288.6 | ||||||||||||
Others
|
1,974.9 | 2,014.6 | 1,797.4 | 56.9 |
(1)
|
The denominators for diluted earnings per common share and diluted earnings per equivalent ADS are calculated to account for the potential diluted factors, such as the exercise of options and conversion of our convertible bonds into our common shares.
|
(2)
|
Dividends per common share issued as a cash dividend, a stock dividend and distribution from capital surplus.
|
(3)
|
Represents the weighted average number of shares after retroactive adjustments to give effect to stock dividends. Common shares held by consolidated subsidiaries are classified as “treasury stock,” and are deducted from the number of common shares outstanding.
|
(4)
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Including available-for-sale financial assets — non-current and investments accounted for using the equity method.
|
(5)
|
Including deferred tax assets, other financial assets — non-current and other non-current assets.
|
(6)
|
Including bonds payable, long-term borrowings and capital lease obligations.
|
(7)
|
Including (x) current liabilities other than short-term borrowings and current portion of long-term debts and (y) non-current liabilities other than long-term debts.
|
Exchange Rate
|
||||||||||||||||
Average
(1)
|
High
|
Low
|
Period End
|
|||||||||||||
2010
|
31.40 | 32.43 | 29.14 | 29.14 | ||||||||||||
2011
|
29.42 | 30.67 | 28.50 | 30.27 | ||||||||||||
2012
|
29.47 | 30.28 | 28.96 | 29.05 | ||||||||||||
2013
|
29.73 | 30.20 | 28.93 | 29.83 | ||||||||||||
2014
|
30.38 | 31.80 | 29.85 | 31.60 | ||||||||||||
September
|
30.13 | 30.47 | 29.89 | 30.44 | ||||||||||||
October
|
30.40 | 30.49 | 30.31 | 30.45 | ||||||||||||
November
|
30.73 | 30.99 | 30.48 | 30.99 | ||||||||||||
December
|
31.35 | 31.80 | 31.03 | 31.60 | ||||||||||||
2015
|
||||||||||||||||
January
|
31.64 | 32.00 | 31.06 | 31.75 | ||||||||||||
February
|
31.55 | 31.76 | 31.31 | 31.44 | ||||||||||||
March (through March 13, 2015)
|
31.54
|
31.71
|
31.35
|
31.71
|
(1)
|
Annual averages were calculated by using the average of the exchange rates on the last day of each month during the relevant year. Monthly averages were calculated by using the average of the daily rates during the relevant month.
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·
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cancel or reduce planned expenditures for our products and services;
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seek to lower their costs by renegotiating their contracts with us;
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consolidate the number of suppliers they use which may result in our loss of customers; and
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·
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switch to lower-priced products or services provided by our competitors.
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·
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technological expertise;
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price;
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the ability to provide total solutions to our customers, including integrated design, manufacturing, packaging and testing and electronic manufacturing services;
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ability to offer interconnect technologies at an optimal scale for our businesses;
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range of package types and testing platforms available;
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the ability to work closely with our customers at the product development stage;
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responsiveness and flexibility;
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fast-to-market product development;
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capacity;
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diversity in facility locations; and
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production yield.
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·
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changes in general economic and business conditions, particularly the cyclical nature of the semiconductor and electronics industries and the markets served by our customers;
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our ability to quickly adjust to unanticipated declines or shortfalls in demand and market prices;
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·
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changes in prices for our products or services;
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·
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volume of orders relative to our packaging, testing and manufacturing capacity;
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·
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changes in costs and availability of raw materials, equipment and labor;
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·
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our ability to obtain or develop substitute raw materials with lower cost;
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·
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our ability to successfully develop or market new products or services;
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·
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our ability to successfully manage product mix in response to changes in market demand and differences in margin associated with different products;
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·
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timing of capital expenditures in anticipation of future orders;
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·
|
our ability to acquire or design and produce advanced and cost-competitive interconnect materials, and provide integrated solutions for electronic manufacturing services;
|
·
|
fluctuations in the exchange rate between the NT dollar and foreign currencies, especially the U.S. dollar; and
|
·
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typhoons, earthquakes, drought, epidemics, tsunami and other natural disasters, as well as industrial and other incidents such as fires and power outages.
|
·
|
our future financial condition, results of operations and cash flows;
|
·
|
general market conditions for financing activities by semiconductor or electronics companies; and
|
·
|
economic, political and other conditions in Taiwan and elsewhere.
|
·
|
our management and policies;
|
·
|
the timing and distribution of dividends; and
|
·
|
the election of our directors and supervisors.
|
(1)
|
we pay stock dividends on our common shares;
|
(2)
|
we make a free distribution of common shares;
|
(3)
|
holders of ADSs exercise preemptive rights in the event of capital increases; or
|
|
(4)
|
to the extent permitted under the deposit agreement and the relevant custody agreement, investors purchase our common shares, directly or through the depositary, on the Taiwan Stock Exchange, and deliver our common shares to the custodian for deposit into our ADS facility, or our existing shareholders deliver our common shares to the custodian for deposit into our ADS facility.
|
·
|
the proceeds of the sale of common shares represented by ADSs or received as stock dividends from our common shares and deposited into the depositary receipt facility; and
|
·
|
any cash dividends or distributions received from our common shares.
|
·
|
our ability to provide a broad range of cost-effective semiconductor packaging and testing services on a large-scale turnkey basis within key centers of semiconductor manufacturing;
|
·
|
our expertise in developing and providing cost-effective packaging, interconnect materials and testing technologies and solutions;
|
·
|
our ability to provide proactive original design manufacturing services using innovative solution-based designs;
|
·
|
our scale of operations and financial position, which enable us to make significant investments in capacity expansion and research and development as well as to make selective acquisitions;
|
·
|
our geographic presence in key centers of outsourced semiconductor and electronics manufacturing; and
|
·
|
our long-term relationships with providers of complementary semiconductor manufacturing services, including our strategic alliance with TSMC, one of the world’s largest dedicated semiconductor foundries.
|
·
|
Technological Expertise and Significant Capital Expenditure
. Semiconductor manufacturing processes have become highly complex, requiring substantial investment in specialized equipment and facilities and sophisticated engineering and manufacturing expertise. In addition, product life cycles have been shortening, magnifying the need to continuously upgrade or replace manufacturing equipment to accommodate new products. As a result, new investments in in-house facilities are becoming less desirable to integrated device manufacturers because of the high investment costs as well as the inability to achieve
sufficient economies of scale and utilization rates necessary to be competitive with the independent service providers. Independent packaging, testing, foundry and electronic manufacturing services companies, on the other hand, are able to realize the benefits of specialization and achieve economies of scale by providing services to a large base of customers across a wide range of products. This enables them to reduce costs and shorten production cycles through high capacity utilization and process expertise. In the process, they are also able to focus on discrete stages of semiconductor manufacturing and deliver services of superior quality.
|
·
|
Increased Adoption of Copper Wire Bonding
. With significant cost saving benefits over conventional gold wiring technology, semiconductor companies have been qualifying and converting volumes to copper wire based packages at a steady pace. Independent packaging companies have been more aggressive in building copper bonding capacity than integrated device manufacturers and have accumulated significantly more experience and acumen in the new technology. Due to the inherent cost savings and comparable yield of copper and the lack of in-house capacity and experience among integrated device manufacturers, we believe that they will continue to increase the outsourcing of their manufacturing services for copper wire packages to independent packaging and testing companies.
|
·
|
Focus on Core Competencies
. As the semiconductor industry becomes more competitive, semiconductor companies are expected to further outsource their semiconductor manufacturing requirements in order to focus their resources on core competencies, such as semiconductor design and marketing.
|
·
|
Time-to-Market Pressure
. The increasingly short product life cycle has accelerated time-to-market pressure for semiconductor companies, leading them to rely increasingly on outsourced suppliers as a key source for effective manufacturing solutions.
|
·
|
Capitalize on the High Growth Rates in Emerging Markets
. Emerging markets, and China in particular, have become both major manufacturing centers for the technology industry and growing markets for technology-based products. Thus, in order to gain direct access to the Chinese market, many semiconductor companies are seeking to establish manufacturing facilities in China by partnering with local subcontractors. As a result, certain stages of the semiconductor manufacturing process that were previously handled in-house will be increasingly outsourced in order to improve efficiency.
|
Process
|
Description
|
|
1. Circuit Design
|
The design of a semiconductor is developed by laying out circuit components and interconnections.
|
|
2. Engineering Test
|
Throughout and following the design process, prototype semiconductors undergo engineering testing, which involves software development, electrical design validation and reliability and failure analysis.
|
|
3. Wafer Fabrication
|
Process begins with the generation of a photomask through the definition of the circuit design pattern on a photographic negative, known as a mask, by an electron beam or laser beam writer. These circuit patterns are transferred to the wafers using various advanced processes.
|
|
4. Wafer Probe
|
Each individual die is electrically tested, or probed, for defects. Dies that fail this test are marked to be discarded.
|
|
5. Packaging (or Assembly)
|
Packaging, also called assembly, is the processing of bare semiconductors into finished semiconductors and serves to protect the die and facilitate electrical connections and heat dissipation. The patterned silicon wafers received from our customers are diced by means of diamond saws into separate dies, also called chips. Basically each die is attached to a leadframe or a laminate (plastic or tape) substrate by epoxy resin. A leadframe is a miniature sheet of metal, generally made of copper and silver alloys, on which the pattern of input/output leads has been cut. On a laminate substrate, typically used in ball grid array, or BGA, packages, the leads take the shape of small bumps or balls. Leads on the leadframe or the substrate are connected by extremely fine gold or copper wires or bumps to the input/output terminals on the chips, through the use of automated machines known as “bonders.” Each chip is then encapsulated, generally in a plastic casing molded from a molding compound, with only the leads protruding from the finished casing, either from the edges of the package as in the case of the leadframe-based packages, or in the form of small bumps on a surface of the package as in the case of BGA or other substrate-based packages.
|
|
6. Final Test
|
Final testing is conducted to ensure that the packaged semiconductor meets performance specifications. Final testing involves using sophisticated testing equipment known as testers and customized software to electrically test a number of attributes of packaged semiconductors, including functionality, speed, predicted endurance and power consumption. The final testing of semiconductors is categorized by the functions of the semiconductors tested into logic/mixed-signal/RF/3D IC/discrete final testing and memory final testing. Memory final testing typically requires simpler test software but longer testing time per device tested.
|
|
7. Module, Board Assembly and Test
|
Module, board assembly and test refers to the combination of one or more packaged semiconductors with other components in an integrated module or board to enable increased functionality.
|
|
8. Material
|
Material refers to the interconnection of materials which connect the input/output on the semiconductor dies to the printed circuit board, such as substrate, leadframe and flip-chip.
|
·
|
PRC — a fast-growing market for semiconductor and electronics manufacturing in the world;
|
·
|
Korea — an important center for the manufacturing of memory and communications devices;
|
·
|
Malaysia and Singapore — a center for outsourced semiconductor manufacturing in Southeast Asia;
|
·
|
Silicon Valley in California — the preeminent center for semiconductor design, with a concentration of fabless customers; and
|
·
|
Japan — an emerging market for packaging and testing outsourcing services as Japanese integrated device manufacturers increasingly outsource their semiconductor manufacturing requirements.
|
Package Types
|
Number of Leads
|
Description
|
End-Use Applications
|
|||
Wafer Level Chip Scale Package (aCSP)
|
6-120
|
A wafer level chip scale package that can be directly attached to the circuit board. Provides shortest electrical path from the die pad to the circuit board, thereby enhancing electrical performance.
|
Cellular phones, personal digital assistants, watches, MP3 players, digital cameras and camcorders.
|
|||
Flip-Chip Chip Scale Package (FC-CSP, a-
fc
CSP)
|
16-560
|
A lightweight package with a small, thin profile that provides better protection for chips and better solder joint reliability than other comparable package types.
|
RFICs and memory ICs such as digital cameras, DVDs, devices that utilize WiMAX technology, cellular phones, GPS devices and personal computer peripherals.
|
|||
Flip-Chip PiP (Package in Package) (FC-CSP PiP)
|
500-980
|
System In Package for Flip-Chip+Memory die inside with a better electrical performance package types.
|
Application processor for smartphone, data modern on portable devices.
|
|||
Flip-Chip PoP (Package on Package) (FC-CSP PoP)
|
500-1100
|
SOC (System On Chip) die for Assembly to Bottom package and then applied for Memory die on top inside with a better electrical performance package types.
|
High-tier application processor for smartphone, data modern on portable devices.
|
|||
Flip-Chip BGA/ HF FCBGA(High Performance / Heat Spreader / FCBGA)
|
16-2916
|
Using advanced interconnect technology, the flip-chip BGA packages allow higher density of input/output connection over the entire surface of the dies. HF FCBGA is designed for semiconductor high-performance requirement of high density of interconnects.
|
High-performance networking, graphics and server and data center processor applications.
|
Package Types
|
Number of Leads
|
Description
|
End-Use Applications
|
|||
Hybrid (Flip-Chip and Wire Bonding)
|
49-608
|
A package technology which stacks a die on top of a probed good die to integrate ASIC and memory (flash, SRAM and DDR) into one package and interconnects them with wire bonding and molding. This technology suffers from known good die issues (i.e., one bad die will ruin the entire module). Rework is also not an option in hybrid packages.
|
Digital cameras, smartphones, bluetooth applications and personal digital assistants.
|
|||
aS3
|
up to 300
|
Ultra-thin profile package which is excellent on middle pin count alternative solution;
standard BT material and manufacturing equipment; and lower cost via on pad.
|
High I/O and short wire length package solution in high performance requirement.
|
|||
Integrated Passive Device (IPD)
|
less than 20
|
IPD can provide high performance/high Q-factor inductor and single/double layers for lower cost and turnkey solutions and integrate passives into one IPD chip. IPD requires less involvement in the Surface Mount Technology (“SMT”) process, and is considered to be more compatible with current assembly process and suitable for all package solutions.
|
Cellular phones, Wi-Fi module, TV, personal digital assistants
|
Package Types
|
Number of Leads
|
Description
|
End-Use Applications
|
|||
Advanced Quad Flat No-Lead Package (aQFN)
|
104-276
|
aQFN allows for leadless, multi-row and fine-pitch leadframe packaging and is characterized by enhanced thermal and electrical performance. aQFN is a cost-effective packaging solution due to its cost-effective materials and simpler packaging process.
|
Telecommunications products, wireless local access networks, personal digital assistants, digital cameras, low to medium lead count packaging information appliances.
|
|||
Quad Flat Package (QFP)/Thin Quad Flat Package (TQFP)
|
44-256
|
Designed for advanced processors and controllers, application-specific integrated circuits and digital signal processors.
|
Multimedia applications, cellular phones, personal computers, automotive and industrial products, hard disk drives, communication boards such as ethernet, integrated services digital networks and notebook computers.
|
|||
Quad Flat No-Lead Package (QFN)/ Dual-Row QFN (DR-QFN)/ Microchip Carrier (MCC)
|
12-160
|
QFN/DRQFN, also known as types of MCC, uses half-encapsulation technology to expose the rear side of the die pad and the tiny fingers, which are used to connect the chip and bonding wire with printed circuit boards. Dual-Row is to increase the lead counts for product requirement.
|
Cellular phones, wireless local access networks, personal digital assistant devices and digital cameras.
|
|||
Bump Chip Carrier (BCC)
|
16-156
|
BCC packages use plating metal pads to connect with printed circuit boards, creating enhanced thermal and electrical performance.
|
Cellular phones, wireless local access networks, personal digital assistant devices and digital cameras.
|
|||
Small Outline Plastic Package (SOP)/Thin Small Outline Plastic Package (TSOP)
|
8-56
|
Designed for memory devices including static random access memory, or SRAM, dynamic random access memory, or DRAM, fast static RAM, also called FSRAM, and flash memory devices.
|
Consumer audio/video and entertainment products, cordless telephones, pagers, fax machines, printers, copiers, personal computer peripherals, automotive parts, telecommunications products, recordable optical disks and hard disk drives.
|
|||
Small Outline Plastic J-Bend Package (SOJ)
|
20-44
|
Designed for memory and low pin-count applications.
|
DRAM memory devices, microcontrollers, digital analog conversions and audio/video applications.
|
|||
Plastic Leaded Chip Carrier (PLCC)
|
28-84
|
Designed for applications that do not require low-profile packages with high density of interconnects.
|
Personal computers, scanners, electronic games and monitors.
|
|||
Plastic Dual In-line Package (PDIP)
|
8-64
|
Designed for consumer electronic products.
|
Telephones, televisions, audio/video applications and computer peripherals.
|
Package Types
|
Number of Leads
|
Description
|
End-Use Applications
|
|||
Plastic BGA
|
119-1520
|
Designed for semiconductors which require the enhanced performance provided by plastic BGA, including personal computer chipsets, graphic controllers and microprocessors, application-specific integrated circuits, digital signal processors and memory devices.
|
Telecommunications products, global positioning systems, notebook computers, disk drives and video cameras.
|
|||
Stacked-Die BGA
|
120-1520
|
Combination of multiple dies in a single package enables package to have multiple functions within a small surface area.
|
Telecommunications products, local area networks, graphics processor applications, digital cameras and pagers.
|
|||
Package-on-Package (POP, aMAP POP)
|
136-904
|
This technology places one package on top of another to integrate different functionalities while maintaining a compact size. It offers procurement flexibility, low cost of ownership, better total system cost and faster time to market. Designers typically use the topmost package for memory applications and the bottommost package for ASICs. By using this technology, the memory known good die issue can be mitigated and the development cycle time and cost can be reduced.
|
Cellular phones, personal digital assistants and system boards.
|
|||
Land Grid Array (LGA)
|
10-72
|
Leadless package which is essentially a BGA package without the solder balls. Based on laminate substrate, land grid array packages allow flexible routing and are capable of multichip module functions.
|
High frequency integrated circuits such as wireless communications products, computers servers and personal computer peripherals.
|
Year Ended December 31,
|
|||||||||||||
2012
|
2013
|
2014
|
|||||||||||
(percentage of packaging revenues)
|
|||||||||||||
Advanced packaging
(1)
|
23.6 | % | 26.7 | % | 25.0 | % | |||||||
IC Wirebonding
(2)
|
65.9 | 62.5 | 64.4 | ||||||||||
Discrete and other
|
10.5 | 10.8 | 10.6 | ||||||||||
Total
|
100.0 | % | 100.0 | % | 100.0 | % |
(1)
|
Includes bumping, flip chip, chip scale and SiP package.
|
(2)
|
Includes leadframe-based packages such as QFP/TQFP, QFN/MCC and PLCC/PDIP and substrate-based packages, such as various BGA package types and LGA.
|
·
|
Customized Software Development
. Test engineers develop customized software to test the semiconductors using advanced testing equipment. Customized software, developed on specific test platforms, is required to test the conformity of each particular semiconductor type to its unique functionality and specification.
|
·
|
Electrical Design Validation
. A prototype of the designed semiconductor is subjected to electrical tests using advanced test equipment and customized software. These tests assess whether the prototype semiconductor complies with a variety of different operating specifications, including functionality, frequency, voltage, current, timing and temperature range.
|
·
|
Reliability Analysis
. Reliability analysis is designed to assess the long-term reliability of the semiconductor and its suitability of use for intended applications. Reliability testing can include “burn-in” services, which electrically stress a device, usually at high temperature and voltage, for a period of time long enough to cause the failure of marginal devices.
|
·
|
Failure Analysis
. In the event that the prototype semiconductor does not function to specifications during either the electrical design validation or reliability testing processes, it is typically subjected to failure
analysis to determine the cause of the failure to perform as anticipated. As part of this analysis, the prototype semiconductor may be subjected to a variety of analyses, including electron beam probing and electrical testing.
|
·
|
Electric Interface Board and Mechanical Test Tool Design
. Process of designing individualized testing apparatuses such as test load boards, sockets, handler change kits, and probe cards for unique semiconductor devices and packages.
|
·
|
Program Conversion
. Process of converting a program from one test platform to different test platforms to reduce testing costs or optimize testing capacity.
|
·
|
Program Efficiency Improvement
. Process of optimizing the program code or increasing site count of parallel tests to improve testing throughout.
|
·
|
Remote Program Debugging
. Process of allowing the customer to debug their test program remotely through an internet connection.
|
·
|
Burn-in Testing
. Burn-in testing is the process of electrically stressing a device, usually at high temperature and voltage, for a period of time to simulate the continuous use of the device to determine whether this use would cause the failure of marginal devices.
|
·
|
Module SiP Testing
. We provide module SiP testing through integrated bench solution or automatic test equipment to our customers with a complete solution with respect to finger print sensor module, camera module, wireless connectivity devices, global positioning system devices, personal navigation devices and digital video broadcasting devices.
|
·
|
Dry Pack
. Process which involves heating semiconductors in order to remove moisture before vacuum sealing packaging and shipping to customers.
|
·
|
Tape and Reel
. Process which involves transferring semiconductors from a tray or tube into a tape-like carrier for shipment to customers.
|
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
(percentage of testing revenues)
|
||||||||||||
Testing Services:
|
||||||||||||
Front-end engineering testing
|
2.3 | % | 2.5 | % | 2.9 | % | ||||||
Wafer probing
|
17.2 | 19.5 | 20.5 | |||||||||
Final testing
|
80.5 | 78.0 | 76.6 | |||||||||
Total
|
100.0 | % | 100.0 | % | 100.0 | % |
·
|
Computers: motherboards for server & desktop PC; peripheral; port replicator; network attached storage; and technical services;
|
·
|
Communications: Wi-Fi; WiMAX; SiP and Hybrid SiP;
|
·
|
Consumer products: control boards for flat panel devices;
|
·
|
Automotive electronics: automotive electronic manufacturing services; car LED lighting; regulator/rectifier; and
|
·
|
Industrial products: point-of-sale systems; smart handheld devices.
|
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
Communications
|
51.9 | % | 54.6 | % | 53.3 | % | ||||||
Computing
|
12.2 | 11.0 | 11.6 | |||||||||
Consumer electronics/industrial/automotive
|
35.5 | 34.0 | 34.7 | |||||||||
Other
|
0.4 | 0.4 | 0.4 | |||||||||
Total
|
100.0 | % | 100.0 | % | 100.0 | % |
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
Communications
|
36.8 | % | 45.4 | % | 55.6 | % | ||||||
Computing
|
24.3 | 21.7 | 18.0 | |||||||||
Consumer electronics
|
14.2 | 11.7 | 8.9 | |||||||||
Industrial
|
15.5 | 12.8 | 10.3 | |||||||||
Automotive
|
7.9 | 7.4 | 6.3 | |||||||||
Other
|
1.3 | 1.0 | 0.9 | |||||||||
Total
|
100.0 | % | 100.0 | % | 100.0 | % |
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
United States
|
61.3 | % | 65.4 | % | 67.8 | % | ||||||
Taiwan
|
17.3 | 14.2 | 14.3 | |||||||||
Asia
|
11.5 | 10.8 | 9.4 | |||||||||
Europe
|
9.8 | 9.3 | 8.1 | |||||||||
Other
|
0.1 | 0.3 | 0.4 | |||||||||
Total
|
100.0 | % | 100.0 | % | 100.0 | % |
Location
|
ISO/TS
16949
(1)
|
ISO
9001
(2)
|
ISO
14001
(3)
|
ISO
17025
(4)
|
ISO
14064-1
(5)
|
IECQ HSPM
QC080000
(6)
|
Sony
Green
(7)
|
OHSAS
18001
(8)
|
TOSHMS and SA8000
(9)
|
ISO
50001
(10)
|
Taiwan
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
Shanghai, PRC
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||
Suzhou/Kunshan/ Weihai/ Wuxi, PRC
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||
Korea
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
||||
Japan
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||||
Malaysia
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||||
Singapore
|
ü
|
ü
|
ü
|
ü
|
||||||
California
|
ü
|
ü
|
ü
|
(1)
|
ISO/TS16949 standards were originally created by the International Automotive Task Force in conjunction with the International Standards Organization, or ISO. These standards provide for continuous improvement with an emphasis on the prevention of defects and reduction of variation and waste in the supply chain.
|
(2)
|
ISO 9001 quality standards, set by the ISO, are related to quality management systems and designed to help organizations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to the product.
|
(3)
|
ISO 14001 sets out the criteria for an environmental management system. It can be used by any organization that wants to improve resource efficiency, reduce waste and drive down costs.
|
(4)
|
ISO 17025 is the main ISO standard used by testing and calibration laboratories.
|
(5)
|
ISO 14064-1 standard is part of the ISO 14000 series of International Standards for environmental management. The ISO 14064 standard provides governments, businesses, regions and other organizations with a complementary set of tools for programs to quantify, monitor, report and verify greenhouse gas emissions.
|
(6)
|
IECQ HSPM QC080000 is a certification designed to manage, reduce and eliminate hazardous substances.
|
(7)
|
“Sony Green Partner” indicates our compliance with the “Sony Green Package” standard requirements.
|
(8)
|
OHSAS 18001 is a set of standards designed upon collaboration with occupational health and safety experts and now offered by many certification organizations as an indication of compliance with certain standards for occupational health and safety.
|
(9)
|
TOSHMS is the Taiwan Occupational and Health Management System. SA8000 is the most widely recognized global standard for managing human rights in the workspace.
|
(10)
|
ISO50001 is a standard for an energy management system. It can be used by any organization that wants to reduce energy costs and use energy more efficiently.
|
Location
|
ISO/TS 16949
|
ISO 9001
|
ISO 14001
|
ISO 14064-1
|
IECQ
QC
080000
|
TL 9000
(1)
|
OHSAS
18001
|
ISO 50001
|
ISO 17025
|
ISO 13485
(2)
|
Taiwan
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||
Shenzhen, PRC
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|||
Shanghai, PRC
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|
Kunshan, PRC
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
ü
|
|
Mexico
|
ü
|
ü
|
ü
|
ü
|
ü
|
|
(1)
|
TL 9000 quality management system sets forth the supply chain quality requirements of the global communications industry.
|
(2)
|
ISO 13485 quality management system sets forth the quality requirements for organizations that are required to consistently meet customers’ requirements and regulatory requirements in the medical devices and related services industry.
|
Facility
|
Location
|
Commencement of Operation
|
Primary Use
|
Approximate Floor Space
(in sq. ft.)
|
Owned or Leased
|
ASE Inc.
|
Kaohsiung, ROC
|
March 1984
|
Our primary packaging facility, which offers complete semiconductor manufacturing solutions in conjunction with ASE Test Taiwan and foundries located in Taiwan. Focuses primarily on advanced packaging services, including flip-chip, wafer bumping and fine-pitch wire bonding.
|
4,961,000
|
Land: leased Buildings: owned and leased
|
Chung Li, ROC
|
Acquired in July 1999
|
An integrated packaging and testing facility that specializes in semiconductors for communications and consumer applications.
|
3,991,000
|
Land and buildings: owned
|
|
Nantou, ROC
|
April 2011
|
Our facility that provides packaging services.
|
80,000
|
Land and buildings:
|
Facility
|
Location
|
Commencement of Operation
|
Primary Use
|
Approximate Floor Space
(in sq. ft.)
|
Owned or Leased
|
leased
|
|||||
ASE Test Taiwan
|
Kaohsiung, ROC
|
Acquired in April 1990
|
Our primary testing facilities, which offer complete semiconductor manufacturing solutions in conjunction with ASE Inc.’s facility in Kaohsiung and foundries located in Taiwan. Focuses primarily on advanced logic/mixed-signal/RF/3D IC testing for integrated device manufacturers, fabless design companies and system companies.
|
939,000
|
Land: leased Buildings: owned and leased
|
Chung Li, ROC
|
October 2001
|
Our primary wafer probing testing facilities.
|
116,000
|
Land and building: leased
|
|
ASE Test Malaysia
|
Penang, Malaysia
|
February 1991
|
An integrated packaging and testing facility that focuses primarily on the requirements of integrated device manufacturers.
|
828,000
|
Land: leased Buildings: owned
|
ASE Korea
|
Paju, Korea
|
Acquired in July 1999
|
An integrated packaging and testing facility that specializes in semiconductors for radio frequency, sensor and automotive applications.
|
1,079,000
|
Land and buildings: owned
|
ISE Labs
|
California, USA
Texas, USA
|
Acquired in May 1999
|
Front-end engineering and final testing facilities located in northern California in close proximity to some of the world’s largest fabless design companies. Testing facilities located in close proximity to integrated device manufacturers and fabless companies in Texas.
|
96,000
|
Land and buildings: owned and leased
|
ASE Singapore
|
Singapore
|
Acquired in May 1999
|
An integrated packaging and testing facility that specializes in semiconductors for communication, computers and consumer applications.
|
282,000
|
Land: leased Buildings: owned and leased
|
ASE Shanghai
|
Shanghai, China
|
June 2004
|
Design and production of semiconductor packaging materials.
|
1,431,000
|
Land: leased Buildings: owned
|
Facility
|
Location
|
Commencement of Operation
|
Primary Use
|
Approximate Floor Space
(in sq. ft.)
|
Owned or Leased
|
ASE Japan
|
Takahata, Japan
|
Acquired in May 2004
|
An integrated packaging and testing facility that specializes in semiconductors for cellular phone, household appliance and automotive applications.
|
298,000
|
Land and buildings: leased
|
ASE Electronics
|
Kaohsiung, ROC
|
August 2006
|
Facilities for the design and production of interconnect materials such as substrates used in the packaging of semiconductors.
|
552,000
|
Land: leased Buildings: owned and leased
|
ASESH AT
|
Shanghai, China
|
Acquired in January 2007
|
An integrated packaging and testing facility that specializes in semiconductors for communications and consumer applications.
|
909,000
|
Land: leased Buildings: owned
|
ASEN
|
Suzhou, China
|
Acquired in September 2007
|
An integrated packaging and testing facility that specializes in communication applications.
|
433,000
|
Land: leased Buildings: owned
|
ASEWH
|
Shandong, China
|
Acquired in May 2008
|
An integrated packaging and testing facility that specializes in semiconductors for communications, computing and consumer applications.
|
717,000
|
Land: leased Buildings: owned
|
ASEKS
|
Kunshan, China
|
July 2010
|
An integrated packaging and testing facility that specializes in semiconductors for communications and consumer applications.
|
1,489,000
|
Land: leased Buildings: owned
|
Wuxi Tongzhi
|
Wuxi, China
|
Acquired in May 2013
|
An integrated packaging and testing facility that specializes in semiconductors for MP3, Vehicle, household appliance and communications applications.
|
78,000
|
Land and buildings: leased
|
Universal Scientific
|
Nantou, ROC
|
Acquired in February 2010
|
The parent company of Universal Scientific Group, engages in research and development activities for various electronic products and components.
|
900,000
|
Land: owned Buildings: owned and leased
|
Facility
|
Location
|
Commencement of Operation
|
Primary Use
|
Approximate Floor Space
(in sq. ft.)
|
Owned or Leased
|
USI Mexico
|
Guadalajara, Mexico
|
Acquired in February 2010
|
Manufacturing site, which offer Motherboard manufacture and system assembly.
|
362,000
|
Land: owned Buildings: owned
|
USISZ
|
Shenzhen, China
|
Acquired in February 2010
|
Manufacturing site, design, manufacture and marketing of motherboards, electronic components, accessories and related products in China.
|
787,000
|
Land: leased Buildings: owned
|
Universal Scientific Shanghai
|
Shanghai, China
|
Acquired in February 2010
|
Manufacturing site, design, manufacture and marketing of motherboards, electronic components, accessories and related products in China.
|
714,000
|
Land: leased Buildings: owned and leased
|
UGKS
|
Kunshan, China
|
August 2011
|
Manufacturing site, design, manufacture and marketing of motherboards, electronic components, accessories and related products in China.
|
388,000
|
Land: leased Buildings: leased
|
UGTW
|
Nantou, ROC
|
February 2010
|
Design, manufacture and marketing of electronic components, accessories and related products.
|
400,000
|
Land: owned
Buildings: owned and leased
|
UGJQ
|
Shanghai, China
|
Established in September 2013
|
Design, manufacture and marketing of motherboards, electronic components, accessories and related products in China.
|
364,000
|
Land: leased
Buildings: leased
|
·
|
we have transferred to the buyer the significant risks and rewards of ownership of the goods and real estate properties;
|
·
|
we retain neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods and real estate properties sold;
|
·
|
the amount of revenue can be reliably measured;
|
·
|
it is probable that the economic benefits associated with the transaction will flow to us; and
|
·
|
the costs incurred or to be incurred in respect of the transaction can be reliably measured.
|
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
(percentage of operating revenues)
|
||||||||||||
Operating revenues
|
100.0 | % | 100.0 | % | 100.0 | % | ||||||
Packaging
|
53.8 | 51.2 | 47.3 | |||||||||
Testing
|
11.7 | 11.3 | 10.1 | |||||||||
Electronic manufacturing services
|
32.3 | 35.7 | 41.2 | |||||||||
Others
|
2.2 | 1.8 | 1.4 | |||||||||
Operating costs
|
(81.1 | ) | (80.5 | ) | (79.1 | ) | ||||||
Gross profit
|
18.9 | 19.5 | 20.9 | |||||||||
Operating expenses
|
(9.8 | ) | (9.5 | ) | (9.3 | ) | ||||||
Other income and expenses
|
0.0 | (0.6 | ) | 0.0 | ||||||||
Profit from operations
|
9.1 | 9.4 | 11.6 | |||||||||
Non-operating expense, net
|
(0.6 | ) | (0.6 | ) | (0.5 | ) | ||||||
Profit before income tax
|
8.5 | 8.8 | 11.1 | |||||||||
Income tax expense
|
(1.5 | ) | (1.6 | ) | (2.2 | ) | ||||||
Profit for the year
|
7.0 | % | 7.2 | % | 8.9 | % | ||||||
Attributable to
|
||||||||||||
Owners of the Company
|
6.8 | % | 7.0 | % | 8.7 | % | ||||||
Non-controlling interests
|
0.2 | 0.2 | 0.2 | |||||||||
7.0 | % | 7.2 | % | 8.9 | % | |||||||
Other comprehensive income (loss), net of income tax
|
(2.0 | ) | 1.5 | 2.2 | ||||||||
Total comprehensive income for the year
|
5.0 | % | 8.7 | % | 11.1 | % | ||||||
Attributable to
|
||||||||||||
Owners of the Company
|
4.8 | % | 8.4 | % | 10.7 | % | ||||||
Non-controlling interests
|
0.2 | 0.3 | 0.4 | |||||||||
5.0 | % | 8.7 | % | 11.1 | % |
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
(percentage of operating revenues)
|
||||||||||||
Gross profit
|
||||||||||||
Packaging
|
19.0 | % | 21.0 | % | 27.2 | % | ||||||
Testing
|
33.5 | 36.7 | 37.2 | |||||||||
Electronic manufacturing services
|
11.5 | 10.3 | 8.6 | |||||||||
Overall
|
18.9 | % | 19.5 | % | 20.9 | % |
Year Ended December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
(percentage of operating revenues)
|
||||||||||||
Operating costs
|
||||||||||||
Raw materials
|
45.3 | % | 45.6 | % | 45.6 | % | ||||||
Labor
|
12.8 | 12.8 | 13.0 | |||||||||
Depreciation, amortization and rental expense
|
11.4 | 11.1 | 9.9 | |||||||||
Others
|
11.6 | 11.0 | 10.6 | |||||||||
Total operating costs
|
81.1 | % | 80.5 | % | 79.1 | % | ||||||
Operating expenses
|
||||||||||||
Selling
|
1.4 | % | 1.4 | % | 1.3 | % | ||||||
General and administrative
|
4.3 | 4.0 | 4.0 | |||||||||
Research and development
|
4.1 | 4.1 | 4.0 | |||||||||
Total operating expenses
|
9.8 | % | 9.5 | % | 9.3 | % |
Quarter Ended
|
||||||||||||||||||||||||||||||||
Mar. 31,
2013
|
Jun. 30,
2013
|
Sept. 30,
2013
|
Dec. 31,
2013
|
Mar. 31,
2014
|
Jun. 30,
2014
|
Sept. 30,
2014
|
Dec. 31,
2014
|
|||||||||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||||||||
(in millions)
|
||||||||||||||||||||||||||||||||
Consolidated Operating Revenues
|
||||||||||||||||||||||||||||||||
Packaging
|
24,903.3 | 29,020.7 | 29,976.8 | 28,703.1 | 26,721.8 | 30,641.2 | 32,031.1 | 31,942.4 | ||||||||||||||||||||||||
Testing
|
5,723.0 | 6,505.4 | 6,279.3 | 6,224.5 | 5,784.6 | 6,599.8 | 6,827.5 | 6,662.8 | ||||||||||||||||||||||||
Electronic manufacturing services
|
16,383.2 | 14,185.3 | 19,550.1 | 28,412.0 | 21,365.4 | 20,500.6 | 26,740.5 | 37,177.9 | ||||||||||||||||||||||||
Others
|
1,180.4 | 1,048.3 | 942.2 | 824.8 | 827.8 | 873.6 | 1,032.8 | 861.6 | ||||||||||||||||||||||||
Total
|
48,189.9 | 50,759.7 | 56,748.4 | 64,164.4 | 54,699.6 | 58,615.2 | 66,631.9 | 76,644.7 | ||||||||||||||||||||||||
Consolidated Gross Profit
|
||||||||||||||||||||||||||||||||
Packaging
|
4,016.9 | 5,899.5 | 6,094.4 | 7,662.9 | 6,101.4 | 7,694.3 | 8,728.9 | 10,515.6 | ||||||||||||||||||||||||
Testing
|
1,961.6 | 2,513.8 | 2,330.3 | 2,273.7 | 1,867.3 | 2,458.2 | 2,716.8 | 2,589.7 | ||||||||||||||||||||||||
Electronic manufacturing services
|
1,784.5 | 1,532.4 | 2,602.2 | 2,135.2 | 2,006.6 | 2,007.1 | 2,239.4 | 2,865.8 | ||||||||||||||||||||||||
Others
|
519.6 | 492.1 | 562.4 | 440.5 | 383.9 | 450.8 | 522.9 | 439.8 | ||||||||||||||||||||||||
Total
|
8,282.6 | 10,437.8 | 11,589.3 | 12,512.3 | 10,359.2 | 12,610.4 | 14,208.0 | 16,410.9 | ||||||||||||||||||||||||
Consolidated Gross Profit (%)
|
||||||||||||||||||||||||||||||||
Packaging
|
16.1 | % | 20.3 | % | 20.3 | % | 26.7 | % | 22.8 | % | 25.1 | % | 27.3 | % | 32.9 | % | ||||||||||||||||
Testing
|
34.3 | 38.6 | 37.1 | 36.5 | 32.3 | 37.2 | 39.8 | 38.9 | ||||||||||||||||||||||||
Electronic manufacturing services
|
10.9 | 10.8 | 13.3 | 7.5 | 9.4 | 9.8 | 8.4 | 7.7 | ||||||||||||||||||||||||
Overall
|
17.2 | % | 20.6 | % | 20.4 | % | 19.5 | % | 18.9 | % | 21.5 | % | 21.3 | % | 21.4 | % |
Year Ended December 31,
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$
|
|||||||||||||
(in millions)
|
||||||||||||||||
Machinery and equipment
|
31,790.5 | 19,851.7 | 31,735.5 | 1,004.3 | ||||||||||||
Building and improvements
|
7,102.6 | 7,192.4 | 11,713.1 | 370.7 | ||||||||||||
Total
|
38,893.1 | 27,044.1 | 43,448.6 | 1,375.0 |
Payments Due by Period
|
||||||||||||||||||||
Total
|
Under
1 Year
|
1 to 3 Years
|
3 to 5 Years
|
After
5 Years
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
(in millions)
|
||||||||||||||||||||
Contractual Obligations:
|
||||||||||||||||||||
Long-term debt
(1)
|
62,273.3 | 3,769.8 | 38,369.2 | 19,959.0 | 175.3 | |||||||||||||||
Capital lease obligations
(2)
|
5.9 | 4.6 | 1.3 | – | – | |||||||||||||||
Operating leases
(3)
|
922.0 | 224.6 | 181.0 | 94.5 | 421.9 | |||||||||||||||
Purchase obligations
(4)
|
3,790.7 | 3,790.7 | – | – | – | |||||||||||||||
Total
(5)(6)(7)(8)
|
66,991.9 | 7,789.7 | 38,551.5 | 20,053.5 | 597.2 |
(1)
|
Includes long-term borrowings and bonds payable (before the deduction of unamortized arrangement fees, unamortized issuance cost and discounts on bonds payable) and interest payments.
|
(2)
|
Represents our commitments under property leases and imputed interest. These obligations are recorded on our consolidated balance sheets.
|
(3)
|
Represents our commitments under leases for land, machinery and equipment such as testers, and office buildings and equipment. See note 35 to our consolidated financial statements included in this annual report.
|
(4)
|
Represents unpaid commitments for construction. These commitments were not recorded on our consolidated balance sheets as of December 31, 2014. See note 35 to our consolidated financial statements included in this annual report. Total commitments for construction of buildings were approximately NT$4,864.0 million (US$153.9 million), of which NT$1,073.3 million (US$34.0 million) had been paid as of December 31, 2014.
|
(5)
|
Excludes non-binding commitments to purchase machinery and equipment of approximately NT$12,634.0 million (US$399.8 million), of which NT$443.1 million (US$14.0 million) had been paid as of December 31, 2014. See note 35 to our consolidated financial statements included in this annual report.
|
(6)
|
Excludes our unfunded defined benefit obligation since the schedule of payments is difficult to determine. Under defined benefit pension plans, we made pension contributions of approximately NT$556.6 million (US$17.6 million) in 2014, and we estimate that we will contribute approximately NT$510.4 million (US$16.2 million) in 2015. See note 21 to our consolidated financial statements included in this annual report.
|
(7)
|
Excludes uncertain tax liabilities. We recognized additional taxes payable of NT$151.2 million (US$4.8 million) and accrued interest and penalties of NT$14.1 million (US$0.4 million) related to uncertain tax positions as of or for the year ended December 31, 2014. Because we were unable to make a reasonable estimate of the timing of the tax audits, such balances were not included in the table.
|
(8)
|
Excludes contributions to environmental protection efforts in Taiwan in a total amount of not less than NT$3,000.0 million to be made in the next 30 years starting January 1, 2014, as approved by our board of directors in December 2013. The contributions are our voluntary commitment to promote environmental protection in Taiwan and not contractual obligations. See “Item 4. Information on the Company—Business Overview—Environmental Matters.”
|
Name
|
Position
|
Director
Since
|
Age
|
Other Significant
Positions Held Outside of the ASE Group
|
Jason C.S. Chang
(1)(2)
|
Director, Chairman and Chief Executive Officer
|
1984
|
70
|
None
|
Richard H.P. Chang
(1)
|
Director, Vice Chairman and President
|
1984
|
68
|
Chairman, Sino Horizon Holdings Ltd.
|
Tien Wu
(2)
|
Director and Chief Operating Officer
|
2003
|
57
|
None
|
Joseph Tung
(2)
|
Director and Chief Financial Officer
|
1997
|
56
|
Independent director, Ta Chong Bank Ltd.
|
Raymond Lo
(3)
|
Director and General Manager, Kaohsiung packaging facility
|
2006
|
60
|
None
|
Jeffrey Chen
(3)
|
Director and General Manager of Corporate Affairs and Strategy of China Region
|
2003
|
50
|
None
|
Rutherford Chang
(4)
|
Director and General Manager of China Region
|
2009
|
35
|
None
|
Shen-Fu Yu
|
Independent Director
|
2009
|
70
|
Supervisor, Dynapack International Technology Corporation and independent director, Yulon Motor Co., Ltd.
|
Ta-Lin Hsu
|
Independent Director
|
2009
|
71
|
Chairman and founder, H&Q Asia Pacific
|
(1)
|
Jason C.S. Chang and Richard H.P. Chang are brothers.
|
(2)
|
Representative of ASE Enterprises Limited, a company organized under the laws of Hong Kong, which held 16.87% of our total outstanding shares as of January 31, 2015. All of the outstanding shares of ASE Enterprises Limited are held by a company organized under the laws of the British Virgin Islands in trust for the benefit of the family of our Chairman and Chief Executive Officer, Jason C.S. Chang, who is the sole shareholder and director of that company.
|
(3)
|
Representatives of J&R Holding Limited, a company organized under the laws of Bermuda, which held 0.59% of our total outstanding shares as of January 31, 2015.
|
(4)
|
Rutherford Chang is the son of Jason C.S. Chang.
|
Name
|
Position
|
Supervisor
Since
|
Age
|
Other Significant
Positions Held Outside of the ASE Group
|
David Pan
(1)
|
Supervisor
|
2012
|
69
|
None
|
Chun-Che Lee
(1)
|
Supervisor
|
2012
|
55
|
None
|
Tien-Szu Chen
(1)
|
Supervisor
|
2006
|
53
|
None
|
Yen-Yi Tseng
(1)
|
Supervisor
|
2000
|
73
|
Chairman, ASE Cultural and Educational Foundation
|
Jerry Chang
(2)
|
Supervisor
|
2009
|
37
|
None
|
(1)
|
Representative of Hung Ching.
|
(2)
|
Jerry Chang is the son of Richard H.P. Chang.
|
Name
|
Position
|
Years with the Company
|
Age
|
Jason C.S. Chang
|
Chairman and Chief Executive Officer
|
30
|
70
|
Richard H.P. Chang
|
Vice Chairman and President; Chairman, Universal Scientific Shanghai
|
30
|
68
|
Tien Wu
|
Chief Operating Officer
|
14
|
57
|
Joseph Tung
|
Chief Financial Officer
|
20
|
56
|
Raymond Lo
|
General Manager, ASE Test Taiwan; General Manager, Kaohsiung packaging facility
|
28
|
60
|
Rutherford Chang
|
General Manger, China Region
|
9
|
35
|
Chun-Che Lee
|
General Manager, ASE Electronics
|
30
|
55
|
Ung Bae
|
General Manager, ASE Korea
|
15
|
58
|
Chih-Hsiao Chung
|
General Manager, ASE Japan and Wuxi Tongzhi
|
15
|
50
|
Chiu-Ming Cheng
|
General Manager, ASESH AT
|
24
|
54
|
Chih-An Hsu
|
General Manager, ASEKS
|
17
|
51
|
Yen-Chieh Tsao
|
General Manager, ASEWH
|
3
|
57
|
Shih-Kang Hsu
|
Chief Executive Officer, ASEN
|
14
|
49
|
Kwai Mun Lee
|
President, ASE South-East Asia operations
|
16
|
52
|
Lid Jian Chiou
|
General Manager, ASE Singapore Pte. Ltd.
|
11
|
58
|
Kenneth Hsiang
|
General Manger, ISE Labs
|
15
|
44
|
Chen-Yen Wei
|
Chairman, Universal Scientific; President, Universal Scientific Shanghai
|
35
|
60
|
Jack Hou
|
General Manager, UGTW.
|
20
|
58
|
Ta-I Lin
|
General Manager, UGKS
|
27
|
51
|
Yueh-Ming Lin
|
General Manager, USISZ
|
19
|
49
|
Hector Escobedo
|
General Manager, USI Mexico
|
14
|
64
|
As of December 31,
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
Total
|
57,259 | 60,199 | 68,100 | |||||||||
Function
|
||||||||||||
Direct labor
|
32,196 | 33,794 | 38,588 | |||||||||
Indirect labor (manufacturing)
|
14,158 | 14,518 | 16,620 | |||||||||
Indirect labor (administration)
|
4,760 | 5,580 | 5,941 | |||||||||
Research and development
|
6,145 | 6,307 | 6,951 | |||||||||
Location
|
||||||||||||
Taiwan
|
27,763 | 30,552 | 35,382 | |||||||||
PRC
|
21,627 | 21,360 | 24,223 | |||||||||
Korea
|
2,985 | 2,964 | 2,900 | |||||||||
Malaysia
|
2,384 | 2,672 | 2,752 | |||||||||
Japan
|
787 | 693 | 588 | |||||||||
Singapore
|
1,023 | 1,068 | 1,059 | |||||||||
United States
|
356 | 376 | 383 | |||||||||
Others
|
334 | 514 | 813 |
Director, Supervisor or
Executive Officer
|
Number of ASE
Inc. Common
Shares
Beneficially Held
(1)
|
Percentage of ASE Inc. Total Common Shares Issued and Outstanding
|
Number of
Options Exercisable
(2)
|
Exercise Price of Options (NT$)
|
Expiration Date
of Options
|
|||||||||||||||
Jason C.S. Chang
|
1,743,979,181 | (3) | 22.17 | % | 16,300,000 | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||
Richard H.P. Chang
|
226,144,287 | 2.87 | % | 9,050,000 | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
||||||||||||||
Tien Wu
|
3,853,386 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Joseph Tung
|
4,226,823 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Raymond Lo
|
2,566,825 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Jeffrey Chen
|
1,044,802 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Rutherford Chang
|
1,779,708 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Shen-Fu Yu
|
4,632 | * | 0 | - | - | |||||||||||||||
Ta-Lin Hsu
|
0 | 0 | % | 0 | - | - | ||||||||||||||
David Pan
|
1,018,229 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Chun-Che Lee
|
2,944,502 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Tien-Szu Chen
|
1,122,054 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Yen-Yi Tseng
|
186,894 | * | * | 20.4 |
2020/5/6
|
|||||||||||||||
Jerry Chang
|
217,860 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Ung Bae
|
0 | 0 | % | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
||||||||||||||
Chih-Hsiao Chung
|
62,230 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Chiu-Ming Cheng
|
274,140 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Chih-An Hsu
|
0 | 0 | % | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
||||||||||||||
Yen-Chieh Tsao
|
0 | 0 | % | 0 | - | - | ||||||||||||||
Shih-Kang Hsu
|
464,688 | * | * | 20.4 |
2020/5/6
|
|||||||||||||||
Kwai Mun Lee
|
0 | 0 | % | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
||||||||||||||
Lid Jian Chiou
|
0 | 0 | % | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
||||||||||||||
Kenneth Hsiang
|
155,000 | * | * | 20.40-21.10 |
2017/12/19 – 2020/5/6
|
|||||||||||||||
Chen-Yen Wei
|
710,053 | * | 0 | - | - | |||||||||||||||
Jack Hou
|
107,558 | * | 0 | - | - | |||||||||||||||
Ta-I Lin
|
0 | 0 | % | 0 | - | - | ||||||||||||||
Yueh-Ming Lin
|
0 | 0 | % | 0 | - | - | ||||||||||||||
Hector Escobedo
|
0 | 0 | % | 0 | - | - |
(1)
|
Including shares directly held and shares beneficially owned through spouse and minor children.
|
(2)
|
Each option may be converted into one of our common shares. The figures referred herein include options convertible into our common shares scheduled to vest within 60 days as of the date hereof.
|
(3)
|
Including 1,327,202,773 common shares Jason C.S. Chang beneficially owned through ASE Enterprises Limited and 321,454,196 common shares beneficially owned through Value Tower Limited, respectively, and 95,322,212 common shares Jason C.S. Chang directly owned. See “Item 7. Major Shareholders and Related Party Transactions—Major Shareholders.”
|
*
|
The sum of the number of common shares held and the number of common shares issuable upon exercise of all options held is less than 1.0% of our total outstanding shares.
|
Common Shares Beneficially Owned
|
||||||||
Name of Shareholder or Group
|
Number
|
Percentage
|
||||||
Jason C.S. Chang
(1)
|
1,760,279,181 | 22.33 | % | |||||
BlackRock, Inc.
(2)
|
411,225,959 | 5.23 | % |
(1)
|
Jason C.S. Chang is our Chairman and Chief Executive Officer. Jason C. S. Chang beneficially owned 1,327,202,773 common shares through ASE Enterprises Limited and 321,454,196 common shares through Value Tower Limited, respectively, and directly owned 95,322,212 common shares, vested options convertible into 15,540,000 common shares and options convertible into 760,000 common shares scheduled to vest on May 6, 2015, within 60 days as of the date hereof. As a result, Jason C.S. Chang beneficially owned 1,760,279,181 common shares, representing 22.33% of our total outstanding shares on an adjusted basis (based on 7,882,507,746 common shares which were adjusted to reflect 7,866,207,746 shares outstanding as of January 31, 2015, plus 16,300,000 common shares Jason C.S. Chang may receive upon exercise of options granted to him which are vested or vesting within 60 days of the date hereof). ASE Enterprises Limited is a company organized under the laws of Hong Kong. All of the outstanding shares of ASE Enterprises Limited are held by a company organized under the laws of the British Virgin Islands in trust for the benefit of the family of Jason C.S. Chang, who is the sole shareholder and director of that company. Value Tower Limited is a company organized under the laws of the British Virgin Islands. Jason C.S. Chang is the sole shareholder and director of Value Tower Limited. During the period from May 30, 2011 to May 23, 2012, Jason C.S. Chang acquired 1.04% of our then-outstanding total common shares. Other than the above, there were no significant changes in the percentage of ownership beneficially owned by Jason C.S. Chang in 2012, 2013 and 2014.
|
(2)
|
BlackRock, Inc. is a corporation organized under the laws of the State of Delaware, United States. According to the Schedule 13G filed with the SEC on February 3, 2015, BlackRock, Inc. beneficially owns 411,225,959 as of December 31, 2014. We do not have further information on any changes in BlackRock, Inc.’s ownership of our shares subsequent to December 31, 2014.
|
Common Shares Beneficially Owned
|
||||||||
Name of Shareholder
|
Number
|
Percentage
|
||||||
ASE Test
(1)
|
88,200,472 | 1.12% | ||||||
ASE Test Taiwan
(2)
|
10,978,776 | 0.14% | ||||||
J&R Holding Limited
(3)
|
46,703,763 | 0.59% | ||||||
Hung Ching
(4)
|
85,588,293 | 1.09% |
(1)
|
ASE Test is our wholly-owned subsidiary. ASE Test’s ownership of our common shares is the result of the merger of ASE Chung Li with and into us in August 2004, and subsequent dividends upon shares received in connection with this merger. In order to comply with Singapore Companies Act, a trust was established to hold and dispose our common shares issued to ASE Test, a Singaporean Company, upon completion of the merger. The trustee appointed under such trust arrangement is currently our registered shareholder for our common shares issued to ASE Test. See “—Related Party Transactions.”
|
(2)
|
ASE Test Taiwan is our wholly-owned subsidiary. ASE Test Taiwan’s ownership of our common shares is mainly the result of the merger of ASE Material with and into us in August 2004, and subsequent dividends upon shares received in connection with this merger. In order to comply with Singapore Companies Act, a trust had been established to hold and dispose our common shares issued to ASE Test Taiwan, which had been a subsidiary of ASE Test, upon completion of the merger. In December 2014, the trust established to hold the common shares issued to ASE Test Taiwan had been terminated because ASE Test Taiwan was no longer a subsidiary owned by ASE Test and therefore no longer subject to Singapore Companies Act requirements. As a result, ASE Test Taiwan directly owned 10,978,776 of our common shares as of January 31, 2015. See “—Related Party Transactions.”
|
(3)
|
J&R Holding Limited is our wholly-owned subsidiary. J&R Holding Limited’s ownership of our common shares is the result of the merger of ASE Chung Li with and into us in August 2004, and subsequent dividends upon shares received in connection with this merger.
|
(4)
|
Hung Ching is our equity method investee. As of January 31, 2015, we held 26.22% of the outstanding shares of Hung Ching. Hung Ching acquired our common shares in open market transactions and subsequent dividends upon the acquired shares.
|
Cash Dividends Per Common Share
|
Stock Dividends Per Common Share
(1)
|
Total Common Shares Issued as Stock Dividends
|
Outstanding Common
Shares on
Record Date
(2)
|
Percentage of Outstanding Common Shares Represented by Stock Dividends
|
||||||||||||||||
NT$
|
NT$
|
|||||||||||||||||||
2007
|
1.48 | 1.48 | 694,101,071 | 4,645,295,431 | 14.9 | % | ||||||||||||||
2008
|
1.71 | 0.29 | 158,766,146 | 5,484,848,118 | 2.9 | % | ||||||||||||||
2009
|
0.50 | – | – | 5,474,320,814 | – | |||||||||||||||
2010
|
0.36 | 1.00 | 549,497,078 | 5,500,216,994 | 10.0 | % | ||||||||||||||
2011
|
0.65 | 1.15 | 695,735,660 | 6,055,261,112 | 11.5 | % | ||||||||||||||
2012
|
0.65 | 1.40 | 931,599,554 | 6,659,893,672 | 14.0 | % | ||||||||||||||
2013
|
1.05 | – | – | 7,611,579,786 | – | |||||||||||||||
2014
|
1.29 | (3) | – | – | 7,847,817,646 | – |
(1)
|
Stock dividends were paid out from retained earnings and capital surplus. Holders of common shares receive as a stock dividend the number of common shares equal to the NT dollar value per common share of the dividend declared multiplied by the number of common shares owned and divided by the par value of NT$10 per share. Fractional shares are not issued but are paid in cash.
|
(2)
|
Aggregate number of common shares outstanding on the record date applicable to the dividend payment. Includes common shares issued in the previous year under our employee bonus plan.
|
(3)
|
On June 26, 2014, our shareholders approved a cash dividend of NT$1.30 per share for 2013 earnings. On July 29, 2014, our board of directors resolved to adjust the cash dividend ratio to NT$1.29411842 because the number of outstanding common shares had changed as a result of the exercise of share options.
|
·
|
up to 1% of our annual net income (less prior years’ losses and legal and special reserves and the additions or deductions of the portion of retained earnings that belong to equity investment gains or losses that have been realized through other comprehensive income or losses measured at fair value, if any) should be paid to our directors and supervisors as compensation; and
|
·
|
between 7% and 11% of the annual net income (less prior years’ losses and legal and special reserves and the additions or deductions of the portion of retained earnings that belong to equity investment gains or losses that have been realized through other comprehensive income or losses measured at fair value, if any) should be paid to our employees as bonuses; the 7% portion is to be distributed to all employees in accordance with our employee bonus distribution rules, while any portion exceeding 7% is to be distributed in accordance with rules established by our board of directors to individual employees who have been recognized as having made special contributions to our company. Such employees include those of our subsidiaries.
|
Closing Price per Share
|
Adjusted Closing
Price per Share
(1)
|
Average Daily Trading Volume
|
Taiwan Stock
Exchange Index
|
|||||||||||||||||||||||||
High
|
Low
|
High
|
Low
|
(in thousands of shares)
|
High
|
Low
|
||||||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||||||||
2010
|
35.50 | 21.95 | 24.51 | 13.85 | 32,137 | 8,972.5 | 7,071.7 | |||||||||||||||||||||
2011
|
37.60 | 24.00 | 26.16 | 18.14 | 32,247 | 9,145.4 | 6,633.3 | |||||||||||||||||||||
2012
|
31.10 | 20.15 | 24.37 | 16.39 | 24,667 | 8,144.0 | 6,894.7 | |||||||||||||||||||||
2013
|
30.65 | 23.60 | 29.36 | 21.26 | 24,598 | 8,623.4 | 7,616.6 | |||||||||||||||||||||
First Quarter
|
26.80 | 23.60 | 24.46 | 21.26 | 21,873 | 8,038.7 | 7,616.6 | |||||||||||||||||||||
Second Quarter
|
26.15 | 24.05 | 23.81 | 21.71 | 18,406 | 8,398.8 | 7,663.2 | |||||||||||||||||||||
Third Quarter
|
28.50 | 24.25 | 27.21 | 22.16 | 22,200 | 8,299.1 | 7,814.4 | |||||||||||||||||||||
Fourth Quarter
|
30.65 | 25.75 | 29.36 | 24.46 | 35,118 | 8,623.4 | 8,099.5 | |||||||||||||||||||||
2014
|
41.00 | 26.80 | 39.10 | 25.51 | 25,609 | 9,569.2 | 8,264.5 | |||||||||||||||||||||
First Quarter
|
33.80 | 26.80 | 32.51 | 25.51 | 28,492 | 8,849.3 | 8,264.5 | |||||||||||||||||||||
Second Quarter
|
39.00 | 32.90 | 37.71 | 31.61 | 22,238 | 9,393.1 | 8,774.1 | |||||||||||||||||||||
Third Quarter
|
41.00 | 35.40 | 39.71 | 34.16 | 25,959 | 9,569.2 | 8,960.8 | |||||||||||||||||||||
Fourth Quarter
|
39.10 | 34.40 | 39.10 | 34.40 | 25,991 | 9,307.3 | 8,512.9 | |||||||||||||||||||||
September
|
38.00 | 35.40 | 38.00 | 35.40 | 18,382 | 9,513.1 | 8,960.8 | |||||||||||||||||||||
October
|
38.60 | 34.40 | 38.60 | 34.40 | 28,494 | 9,106.3 | 8,512.9 | |||||||||||||||||||||
November
|
37.80 | 35.25 | 37.80 | 35.25 | 27,651 | 9,187.2 | 8,859.1 | |||||||||||||||||||||
December
|
39.10 | 36.30 | 39.10 | 36.30 | 22,313 | 9,307.3 | 8,828.4 | |||||||||||||||||||||
2015
|
||||||||||||||||||||||||||||
January
|
39.90 | 36.65 | 39.90 | 36.65 | 21,860 | 9,521.6 | 9,048.3 | |||||||||||||||||||||
February
|
43.50 | 39.80 | 43.50 | 39.80 | 30,472 | 9,699.5 | 9,387.0 | |||||||||||||||||||||
March (through March 17, 2015)
|
47.75
|
43.70
|
47.75
|
43.70
|
44,826
|
9,645.8
|
9,512.9
|
(1)
|
As adjusted retroactively by the Taiwan Stock Exchange to give effect to stock dividends and cash dividends paid in the periods indicated. See “Item 8. Financial Information—Consolidated Statements and Other Financial Information—Dividends and Dividend Policy.”
|
Closing Price per ADS |
Adjusted Closing
Price per ADS
(1)
|
Average Daily Trading Volume |
New York Stock
Exchange Index
|
|||||||||||||||||||||||||
High
|
Low
|
High
|
Low
|
(in thousands of ADSs)
|
High
|
Low
|
||||||||||||||||||||||
US$
|
US$
|
US$
|
US$
|
|||||||||||||||||||||||||
2010
|
5.82 | 3.39 | 4.93 | 2.87 | 867 | 7,964.0 | 6,434.8 | |||||||||||||||||||||
2011
|
6.55 | 4.04 | 5.55 | 3.49 | 1,346 | 8,671.4 | 6,571.5 | |||||||||||||||||||||
2012
|
5.27 | 3.54 | 4.55 | 3.13 | 1,065 | 8,516.4 | 7,285.5 | |||||||||||||||||||||
2013
|
5.35 | 3.91 | 5.16 | 3.45 | 746 | 10,400.3 | 8,604.4 | |||||||||||||||||||||
First Quarter
|
4.63 | 3.92 | 4.09 | 3.46 | 766 | 9,128.0 | 8,604.4 | |||||||||||||||||||||
Second Quarter
|
4.48 | 3.91 | 3.96 | 3.45 | 650 | 9,598.3 | 8,892.0 | |||||||||||||||||||||
Third Quarter
|
4.78 | 3.99 | 4.61 | 3.53 | 677 | 9,887.9 | 9,135.1 | |||||||||||||||||||||
Fourth Quarter
|
5.35 | 4.58 | 5.16 | 4.42 | 891 | 10,400.3 | 9,483.2 | |||||||||||||||||||||
2014
|
6.87 | 4.45 | 6.63 | 4.29 | 752 | 11,104.7 | 9,741.6 | |||||||||||||||||||||
First Quarter
|
5.55 | 4.45 | 5.35 | 4.29 | 731 | 10,527.8 | 9,741.6 | |||||||||||||||||||||
Second Quarter
|
6.65 | 5.43 | 6.41 | 5.24 | 709 | 11,018.1 | 10,280.9 | |||||||||||||||||||||
Third Quarter
|
6.87 | 5.87 | 6.63 | 5.78 | 728 | 11,104.7 | 10,583.8 | |||||||||||||||||||||
Fourth Quarter
|
6.39 | 5.80 | 6.39 | 5.80 | 839 | 11,047.9 | 10,109.7 | |||||||||||||||||||||
September
|
6.46 | 5.87 | 6.46 | 5.87 | 611 | 11,073.4 | 10,702.9 | |||||||||||||||||||||
October
|
6.33 | 5.80 | 6.33 | 5.80 | 744 | 10,845.0 | 10,109.7 | |||||||||||||||||||||
November
|
6.34 | 5.87 | 6.34 | 5.87 | 1,036 | 11,047.9 | 10,758.1 | |||||||||||||||||||||
December
|
6.39 | 5.99 | 6.39 | 5.99 | 766 | 10,988.0 | 10,390.0 | |||||||||||||||||||||
2015
|
||||||||||||||||||||||||||||
January
|
6.84 | 5.96 | 6.84 | 5.96 | 1,382 | 10,859.4 | 10,514.6 | |||||||||||||||||||||
February
|
7.42 | 6.58 | 7.42 | 6.58 | 1, 341 | 11,122.1 | 10,669.0 | |||||||||||||||||||||
March (through March 17, 2015)
|
7.89
|
7.29
|
7.89
|
7.29
|
1,671
|
11,102.8
|
10,678.4
|
(1)
|
As adjusted retroactively to give effect to stock dividends paid in the periods indicated.
|
·
|
the manufacture, assembly, processing, testing and export of various types of integrated circuitry;
|
·
|
the research, development, design and manufacture, assembly, processing, testing and export of various computers, electronics, communications, information products and their peripheral products;
|
·
|
general import and export trading (excluding businesses that require trading permits);
|
·
|
the manufacture of electronic parts and components;
|
·
|
the manufacture of mechanical and electronic devices and materials (including integrated circuit leadframes, BGA substrates and flip-chip substrates);
|
·
|
wholesale and retail sales of electronic materials;
|
·
|
technical support and consulting service for integrated circuit leadframes, BGA substrates and flip-chip substrates;
|
·
|
leasing; and
|
·
|
except any business requiring a special permit, any business not prohibited or restricted by law or regulation.
|
·
|
up to 1% of our annual net income (less prior years’ losses and legal and special reserves and the additions or deductions of the portion of retained earnings that belong to equity investment gains or losses that have been realized through other comprehensive income or losses measured at fair value, if any) should be paid to our directors and supervisors as compensation; and
|
·
|
between 7% and 11% of the annual net income (less prior years’ losses and legal and special reserves and the additions or deductions of the portion of retained earnings that belong to equity investment gains or losses that have been realized through other comprehensive income or losses measured at fair value, if any) should be paid to our employees as bonuses. The 7% portion is to be distributed to all employees in accordance with our employee bonus distribution rules, while any portion exceeding 7% is to be distributed in accordance with rules established by our board of directors to individual employees who have been recognized as having made special contributions to our company. Such employees include those of our subsidiaries.
|
·
|
amendment to the Articles of Incorporation, including increase of authorized share capital and any changes of the rights of different classes of shares;
|
·
|
execution, amendment or termination of any contract through which the company leases its entire business to others, or the company appoints others to operate its business or the company operates its business with others on a continuous basis;
|
·
|
transfer of entire business or assets or a substantial part of its business or assets;
|
·
|
acquisition of the entire business or assets of any other company, which would have a significant impact on the company’s operations;
|
·
|
distribution of any stock dividend;
|
·
|
dissolution, merger or spin-off of the company;
|
·
|
issuance of restricted shares to employees; and
|
·
|
removal of the directors or supervisors.
|
·
|
annual general meeting—60 days;
|
·
|
extraordinary shareholders’ meeting—30 days; and
|
·
|
relevant record date—5 days.
|
·
|
to transfer shares to our employees;
|
·
|
to deliver shares upon the conversion or exercise of bonds with warrants, preferred shares with warrants, convertible bonds, convertible preferred shares or warrants issued by us; and
|
·
|
to maintain our credit and our shareholders’ equity, provided that the shares so purchased shall be canceled.
|
·
|
each director, supervisor, manager, or substantial shareholder (that is, a shareholder who holds more than 10.0% shares of a company), and their respective spouses, minor children or nominees, to report any change in that person’s shareholding to the issuer of the shares and the FSC; and
|
·
|
each director, supervisor, manager, or substantial shareholder, and their respective spouses, minor children or nominees, after acquiring the status of director, supervisor, manager, or substantial shareholder for a period of six months, to report his or her intent to transfer any shares on the Taiwan Stock Exchange to the FSC at least three days before the intended transfer, unless the number of shares to be transferred does not exceed 10,000 shares.
|
·
|
0.2% of the outstanding shares of the company in the case of a company with no more than 30 million outstanding shares; or
|
·
|
0.2% of 30 million shares plus 0.1% of the outstanding shares exceeding 30 million shares in the case of a company with more than 30 million outstanding shares; or
|
·
|
in any case, 5.0% of the average trading volume (number of shares) on the Taiwan Stock Exchange for the ten consecutive trading days preceding the reporting day on which the director, supervisor, manager or substantial shareholder reports the intended share transfer to the FSC.
|
|
·
|
a citizen or individual resident of the United States;
|
|
·
|
a corporation, or other entity taxable as a corporation, created or organized under the laws of the United States or of any political subdivision of the United States; or
|
|
·
|
an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source.
|
|
·
|
persons subject to the alternative minimum tax;
|
|
·
|
persons subject to taxation under the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), known as the Medicare contribution tax;
|
|
·
|
insurance companies;
|
|
·
|
tax-exempt entities, including “individual retirement accounts” or “Roth IRAs”;
|
|
·
|
dealers or traders in securities who use a mark-to-market method of accounting for U.S. federal income tax purposes;
|
|
·
|
certain financial institutions;
|
|
·
|
partnerships or other entities classified as partnerships for U.S. federal income tax purposes;
|
|
·
|
persons holding common shares or ADSs in connection with a trade or business conducted outside of the U.S.;
|
|
·
|
persons who hold or will hold common shares or ADSs as part of a straddle, hedge, conversion transaction, integrated transaction or similar transaction;
|
|
·
|
persons whose functional currency for U.S. federal income tax purposes is not the U.S. dollar;
|
|
·
|
persons who own or are deemed to own 10% or more of our voting stock; or
|
|
·
|
persons who acquired our common shares or ADSs pursuant to the exercise of any employee stock option or otherwise as compensation.
|
Expected Maturity Date
|
||||||||||||||||||||||||||||||||
2015
|
2016
|
2017
|
2018
|
2019
|
Thereafter
|
Total
|
Fair Value
|
|||||||||||||||||||||||||
(in millions, except percentages)
|
||||||||||||||||||||||||||||||||
Short-term borrowings:
|
||||||||||||||||||||||||||||||||
Variable rate (NT$)
|
4,113.0 | – | – | – | – | – | 4,113.0 | 4,113.0 | ||||||||||||||||||||||||
Average interest rate
|
1.15 | % | – | – | – | – | – | 1.15 | % | |||||||||||||||||||||||
Fixed rate (NT$)
|
880.0 | – | – | – | – | – | 880.0 | 880.0 | ||||||||||||||||||||||||
Average interest rate
|
1.02 | % | – | – | – | – | – | 1.02 | % | |||||||||||||||||||||||
Variable rate (US$)
|
510.9 | – | – | – | – | – | 510.9 | 510.9 | ||||||||||||||||||||||||
Average interest rate
|
2.15 | % | – | – | – | – | – | 2.15 | % | |||||||||||||||||||||||
Fixed rate (US$)
|
29.1 | – | – | – | – | – | 29.1 | 29.1 | ||||||||||||||||||||||||
Average interest rate
|
0.83 | % | – | – | – | – | – | 0.83 | % | |||||||||||||||||||||||
Variable rate (RMB)
|
3,577.0 | – | – | – | – | – | 3,577.0 | 3,577.0 | ||||||||||||||||||||||||
Average interest rate
|
4.69 | % | – | – | – | – | – | 4.69 | % | |||||||||||||||||||||||
Variable rate (EUR)
|
15.3 | – | – | – | – | – | 15.3 | 15.3 | ||||||||||||||||||||||||
Average interest rate
|
1.09 | % | – | – | – | – | – | 1.09 | % | |||||||||||||||||||||||
Long-term borrowings:
|
||||||||||||||||||||||||||||||||
Variable rate (NT$)
|
– | 4,983.4 | 1,222.2 | 1,611.1 | 833.3 | – | 8,650.0 | 8,650.0 | ||||||||||||||||||||||||
Average interest rate
|
– | 1.56 | % | 1.87 | % | 2.10 | % | 2.17 | % | – | 1.76 | % | ||||||||||||||||||||
Fixed rate (NT$)
|
0.1 | 8,000.0 | – | – | – | – | 8,000.1 | 8,000.1 | ||||||||||||||||||||||||
Average interest rate
|
10.59 | % | 1.45 | % | – | – | – | – | 1.45 | % | ||||||||||||||||||||||
Variable rate (US$)
|
85.0 | 117.0 | 157.0 | 102.0 | – | – | 461.0 | 461.0 | ||||||||||||||||||||||||
Average interest rate
|
2.16 | % | 3.04 | % | 3.97 | % | 3.57 | % | – | – | 3.31 | % | ||||||||||||||||||||
Fixed rate (US$)
|
0.1 | 34.0 | 300.0 | – | – | – | 334.1 | 334.1 | ||||||||||||||||||||||||
Average interest rate
|
6.18 | % | 1.10 | % | 2.13 | % | – | – | – | 2.02 | % | |||||||||||||||||||||
Variable rate (RMB)
|
5.0 | 70.3 | 116.7 | 125.0 | 150.0 | 23.0 | 490.0 | 490.0 | ||||||||||||||||||||||||
Average interest rate
|
5.95 | % | 6.15 | % | 6.28 | % | 6.49 | % | 6.41 | % | 6.41 | % | 6.36 | % | ||||||||||||||||||
Fixed rate (RMB)
|
22.8 | 500.2 | 0.0 | – | – | – | 523.0 | 523.0 | ||||||||||||||||||||||||
Average interest rate
|
6.12 | % | 4.25 | % | 2.29 | % | – | – | – | 4.33 | % |
Forward Exchange Contracts
|
Swap Contracts
|
||
Buy US$ against NT$
|
|||
Notional Amount
|
–
|
US$1,209.0 million
|
|
Weighted Average Strike Price
|
–
|
US$/NT$ 29.942
|
|
Fair Value
|
–
|
US$59.667 million
|
|
Sell US$ against NT$
|
|||
Notional Amount
|
US$14.0 million
|
US$132.1 million
|
|
Weighted Average Strike Price
|
US$/NT$ 31.317
|
US$/NT$ 31.415
|
|
Fair Value
|
Negative US$0.148 million
|
Negative US$0.979 million
|
|
Sell US$ against RMB
|
|||
Notional Amount
|
US$127.0 million
|
US$80.0 million
|
|
Weighted Average Strike Price
|
US$/RMB 6.186
|
US$/RMB 6.293
|
|
Fair Value
|
US$0.442 million
|
US$0.257 million
|
|
Sell US$ against JP¥
|
|||
Notional Amount
|
US$18.4 million
|
US$72.2 million
|
|
Weighted Average Strike Price
|
US$/ JP¥ 118.452
|
US$/ JP¥ 116.958
|
|
Fair Value
|
Negative US$0.177 million
|
Negative US$1.512 million
|
|
Sell US$ against MYR
|
|||
Notional Amount
|
US$6.0 million
|
–
|
|
Weighted Average Strike Price
|
US$/MYR 3.477
|
–
|
|
Fair Value
|
Negative US$0.043 million
|
–
|
|
Sell US$ against SGD
|
|||
Notional Amount
|
US$11.7 million
|
–
|
|
Weighted Average Strike Price
|
US$/SGD 1.300
|
–
|
|
Fair Value
|
Negative US$0.193 million
|
–
|
|
Buy US$ against RMB
|
|||
Notional Amount
|
–
|
US$35.0 million
|
|
Weighted Average Strike Price
|
–
|
US$/RMB 6.208
|
|
Fair Value
|
–
|
Negative US$0.140 million
|
Service
|
Fees
|
|
Issuance of ADSs
|
Up to US$5.00 per 100 ADSs (or fraction thereof) issued
|
|
Delivery of deposited securities against surrender of ADSs
|
Up to US$5.00 per 100 ADSs (or fraction thereof) surrendered
|
|
Distribution of cash dividends or other cash distributions
|
Up to US$5.00 per 100 ADSs (or fraction thereof) held, unless prohibited by the exchange upon which the ADSs are listed
|
|
Distribution of ADSs pursuant to (i) stock dividends or other free stock distributions, or (ii) exercises of rights to purchase additional ADSs
|
Up to US$5.00 per 100 ADSs (or fraction thereof) held, unless prohibited by the exchange upon which the ADSs are listed
|
|
Distribution of securities other than ADSs or rights to purchase additional ADSs
|
Up to US$5.00 per 100 ADSs (or fraction thereof) held
|
|
Depositary Services
|
Up to US$5.00 per 100 ADSs (or fraction thereof) held, unless prohibited by the exchange upon which the ADSs are listed
|
|
Transfer of ADRs
|
US$1.50 per certificate presented for transfer
|
·
|
taxes (including applicable interest and penalties) and other governmental charges;
|
·
|
such registration fees as may from time to time be in effect for the registration of shares or other deposited securities on the share register and applicable to transfers of shares or other deposited securities to or from the name of the custodian, the depositary or any nominees upon the making of deposits and withdrawals, respectively;
|
·
|
such cable, telex and facsimile transmission and delivery expenses as are expressly provided in the Deposit Agreement to be at the expense of the person depositing or withdrawing shares or holders and beneficial owners of ADSs;
|
·
|
the expenses and charges incurred by the depositary in the conversion of foreign currency;
|
·
|
such fees and expenses as are incurred by the depositary in connection with compliance with exchange control regulations and other regulatory requirements applicable to shares, deposited securities, ADSs and ADRs; and
|
·
|
the fees and expenses incurred by the depositary, the custodian or any nominee in connection with the servicing or delivery of deposited securities.
|
Depositary Payments
|
||||
Reimbursement of proxy process expenses
|
$ | US 9,732.0 | ||
Reimbursement of ADR holders identification expenses
|
$ | US 21,435.0 | ||
Direct reimbursement
|
$ | US 4,119,227.6 | ||
Net payment received by us
(1)
|
$ | US 4,150,394.6 |
(1)
|
net of U.S. withholding tax.
|
For the Year Ended December 31,
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$
|
|||||||||||||
(in thousands)
|
||||||||||||||||
Audit fees
(1)
|
151,981.7 | 140,876.7 | 158,962.4 | 5,030.4 | ||||||||||||
Audit-related fees
(2)
|
– | 8,049.4 | 5,000.0 | 158.2 | ||||||||||||
Tax fees
(3)
|
12,044.0 | 13,409.8 | 20,160.6 | 638.0 | ||||||||||||
All other fees
(4)
|
583.5 | 5,077.0 | 5,592.2 | 177.0 | ||||||||||||
Total
|
164,609.2 | 167,412.9 | 189,715.2 | 6,003.6 |
(1)
|
Audit fees are defined as the standard audit and review work that needs to be performed each year in order to issue an opinion on our consolidated financial statements and to issue reports on the local statutory financial statements. It also includes services that can only be provided by our auditor such as statutory audits required by the Tax Bureau of the ROC and the Customs Bureau of the ROC, consents and comfort letters and any other audit services required for SEC or other regulatory filings.
|
(2)
|
Audit-related fees consist of assurance and related services by Deloitte & Touche that are reasonably related to the performance of the audit or review of our financial statements and are not reported above under Audit Fees. The service for the fees disclosed under this category relate to cash capital increase and bonds offering.
|
(3)
|
Tax fees consist of professional services rendered by Deloitte & Touche for tax compliance and tax advice. The services for the fees disclosed under this category include tax return preparation and technical tax advice.
|
(4)
|
Other fees primarily consist of risk management advisory fee and agreed-upon procedures as required by the ROC government for capital investments in the PRC.
|
Period
|
Total Number of Common Shares Purchased
|
Average Price Paid Per Common Share
|
Total Number of Common Shares Purchased as Part of Publicly Announced Programs
|
Maximum Number (or Approximate Dollar Value) of Common Shares that May Yet Be Purchased Under the Programs
|
||||||||||||
Third Share Repurchase
|
||||||||||||||||
November 2010 (November 30, 2010)
|
7,300,000 | 31.48 | 7,300,000 | 29,700,000 | ||||||||||||
December 2010 (December 1, 2010 – December 6, 2010)
|
29,700,000 | 32.17 | 29,700,000 | – | ||||||||||||
Total
|
37,000,000 | 32.03 | 37,000,000 | – | ||||||||||||
Fourth Share Repurchase
|
||||||||||||||||
August 2011 (August 16, 2011 –
August 29, 2011)
|
34,000,000 | 25.72 | 34,000,000 | – | ||||||||||||
Fifth Share Repurchase
|
||||||||||||||||
September 2011 (September 2, 2011 – September 16, 2011)
|
50,000,000 | 26.68 | 50,000,000 | – | ||||||||||||
Sixth Share Repurchase
|
||||||||||||||||
September 2011 (September 21, 2011 – September 30, 2011)
|
6,488,000 | 27.15 | 6,488,000 | 23,512,000 | ||||||||||||
October 2011 (October 1, 2011 –
October 31, 2011)
|
14,316,000 | 25.85 | 20,804,000 | 9,196,000 | ||||||||||||
November 2011 (November 1, 2011 – November 20, 2011)
|
671,000 | 26.72 | 21,475,000 | 8,525,000 | ||||||||||||
Total
|
21,475,000 | 26.27 | 21,475,000 | 8,525,000 | ||||||||||||
Seventh Share Repurchase
|
||||||||||||||||
March 2015 (March 2, 2015 – March 17, 2015)
|
82,169,000 | 44.89 | 82,169,000 | 37,831,000 |
New York Stock Exchange Corporate Governance
Rules Applicable to U.S. Companies
|
Description of Significant Differences between Our Governance Practices and the NYSE Corporate Governance Rules Applicable to U.S. Companies
|
|
Director independence
|
||
Listed companies must have a majority of independent
directors, as defined under the NYSE listing standards.
|
Two members of our board of directors are independent as defined in Rule 10A-3 under the Exchange Act. We
do not assess the independence of our directors under the independence requirements of the NYSE listing standards.
|
New York Stock Exchange Corporate Governance
Rules Applicable to U.S. Companies
|
Description of Significant Differences between Our Governance Practices and the NYSE Corporate Governance Rules Applicable to U.S. Companies
|
|
Pursuant to relevant laws and regulations of the ROC, we have two independent directors on our board of directors that were elected through the candidate nomination system at our annual general meeting on June 21, 2012.
|
||
To empower non-management directors to serve as a more effective check on management, the non-management directors of each company must meet at regularly scheduled executive sessions without management.
|
All of our directors attend the meetings of the board of directors. Our non-management directors do not meet at regularly scheduled executive sessions without management. The ROC Company Law does not require companies incorporated in the ROC to have their non-management directors meet at regularly scheduled executive sessions without management.
|
|
Nominating/Corporate governance committee
|
||
Listed companies must have a nominating/corporate governance committee composed entirely of independent directors and governed by a written charter that provides for certain responsibilities of the committee set out in the NYSE listing standards.
|
We do not have a nominating/corporate governance committee. The ROC Company Law does not require companies incorporated in the ROC to have a nominating/corporate governance committee.
Currently, our board of directors performs the duties of a corporate governance committee and regularly reviews our corporate governance principles and practices.
The ROC Company Law requires that directors be elected by shareholders. Under ROC law and regulations, companies that have independent directors are required to adopt a candidate nomination system for the election of independent directors. Our two independent directors were elected through the candidate nomination system provided in our articles of incorporation. All of our non-independent directors were elected directly by our shareholders at our shareholders meetings without a nomination process.
|
|
Compensation committee
|
||
Listed companies must have a compensation committee composed entirely of independent directors and governed by a written charter that provides for certain responsibilities of the committee set out in the NYSE listing standards.
|
We have established a compensation committee on September 29, 2011 which was required by the regulations promulgated by the FSC in March 2011. The charter of such committee contains similar responsibilities as those provided under NYSE listing standards.
|
|
In addition to any requirement of Rule 10A-3(b)(1), all compensation committee members must satisfy the independence requirements for independent directors set out in the NYSE listing standards.
|
Our compensation committee members satisfy the independence requirements of Rule 10A-3 under the Exchange Act. We do not assess the independence of our compensation committee member under the independence requirements of the NYSE listing standards but adopt the independence standard as
promulgated under ROC Securities and Exchange Act.
|
New York Stock Exchange Corporate Governance
Rules Applicable to U.S. Companies
|
Description of Significant Differences between Our Governance Practices and the NYSE Corporate Governance Rules Applicable to U.S. Companies
|
|
Audit committee
|
||
Listed companies must have an audit committee that satisfies the requirements of Rule 10A-3 under the Exchange Act.
|
We have an audit committee that satisfies the requirements of Rule 10A-3 under the Exchange Act. Pursuant to the ROC Securities and Exchange Act, public companies shall either establish an audit committee or install supervisors provided that the FSC may, after considering the scale, business nature of a public company and other essential conditions, require the company to establish an audit committee in place of its supervisor. According the ruling issued by the FSC on February 20, 2013 (the “FSC Ruling”), we are required to retain an audit committee no later than the expiration of the term of the current directors and supervisors. We currently have supervisors and shall replace our supervisors by establishing an audit committee no later than the expiration of the term of our current directors and supervisors in accordance with the FSC Ruling.
|
|
The audit committee must have a minimum of three members.
In addition to any requirement of Rule 10A-3(b)(1), all audit committee members must satisfy the independence requirements for independent directors set out in the NYSE listing standards.
|
We currently have two members on our audit committee. Our audit committee members satisfy the independence requirements of Rule 10A-3 under the Exchange Act. We do not assess the independence of our audit committee member under the independence requirements of the NYSE listing standards.
|
|
The audit committee must have a written charter that provides for the duties and responsibilities set out in Rule 10A-3 and addresses certain other matters required by the NYSE listing standards.
|
Our audit committee charter provides for the audit committee to assist our board of directors in its oversight of (i) the integrity of our financial statements, (ii) the qualifications, independence and performance of our independent auditor and (iii) our compliance with legal and regulatory requirements and provides for the duties and responsibilities set out in Rule 10A-3. Our audit committee charter does not address all the matters required by the NYSE listing standards beyond the requirements of Rule 10A-3.
Because the appointment and retention of our independent auditor are the responsibility of our entire board of directors under ROC law and regulations, our audit committee charter provides that the audit committee shall make recommendations to the board of directors with respect to these matters.
|
|
Each listed company must have an internal audit function.
|
We have an internal audit function. Under the ROC Regulations for the Establishment of Internal Control Systems by Public Companies, a public company is required to set out its internal control systems in writing, including internal audit implementation rules, which must be approved by the board of directors.
Our entire board of directors and the Chief Executive Officer are responsible for the establishment of the
internal audit functions, compliance with the internal audit implementation rules and oversight of our internal control systems, including the appointment and retention of our independent auditor.
|
New York Stock Exchange Corporate Governance
Rules Applicable to U.S. Companies
|
Description of Significant Differences between Our Governance Practices and the NYSE Corporate Governance Rules Applicable to U.S. Companies
|
|
Equity compensation plans
|
||
Shareholders must be given the opportunity to vote on all equity compensation plans and material revisions thereto, except for employment inducement awards, certain grants, plans and amendments in the context of mergers and acquisitions, and certain specific types of plans.
|
We comply with the corresponding requirements of the ROC Company Law, the ROC Securities and Exchange Law, and the ROC Criteria Governing the Offering and Issuance of Securities by Securities Issuers, which require shareholders’ approval for the distribution of employee bonuses, while the board of directors has authority to approve employee stock option plans by a majority vote of the board of directors at a meeting where at least two-thirds of all directors are present and to grant options to employees pursuant to such plans provided that shareholders’ approval is required if the exercise price of an option would be less than the closing price of the common shares on the Taiwan Stock Exchange on the grant date of the option, subject to the approval of the Securities and Futures Bureau of the FSC, and to approve treasury stock programs and the transfer of shares to employees under such programs by a majority vote of the board of directors in a meeting where at least two-thirds of all directors are present.
|
|
Corporate governance guidelines
|
||
Listed companies must adopt and disclose corporate governance guidelines.
|
We currently comply with the domestic non-binding Corporate Governance Best-Practice Principles for Taiwan Stock Exchange and Taipei Exchange Listed Companies promulgated by the Taiwan Stock Exchange and the Taipei Exchange, and we provide an explanation of differences between our practice and the principles, if any, in our ROC annual report.
|
|
Code of ethics for directors, officers and employees
|
||
Listed companies must adopt and disclose a code of business conduct and ethics for directors, officers and employees, and promptly disclose any waivers of the code for directors or executive officers.
|
We have adopted a code of ethics that satisfies the requirements of Item 16B of Form 20-F and applies to all employees, officers, supervisors and directors of our company and our subsidiaries and will disclose any waivers of the code as required by Item 16B of Form 20-F. We have posted our code of ethics on our website.
|
|
Description of significant differences
|
||
Listed foreign private issuers must disclose any significant ways in which their corporate governance practices differ from those followed by domestic companies under NYSE listing standards.
|
This table contains the significant differences between our corporate governance practices and those required of U.S. companies under the NYSE listing standards.
|
New York Stock Exchange Corporate Governance
Rules Applicable to U.S. Companies
|
Description of Significant Differences between Our Governance Practices and the NYSE Corporate Governance Rules Applicable to U.S. Companies
|
|
CEO certification
|
||
Each listed company CEO must certify to the NYSE each year that he or she is not aware of any violation by the company of NYSE corporate governance listing standards, qualifying the certification to the extent necessary.
|
As a foreign private issuer, we are not required to comply with this rule; however, our Chief Executive Officer provides certifications under Sections 302 and 906 of the Sarbanes-Oxley Act.
|
|
Each listed company CEO must promptly notify the NYSE in writing after any executive officer of the listed company becomes aware of any material non-compliance with any applicable provisions of Section 303A.
|
We intend to comply with this requirement.
|
|
Each listed company must submit an executed Written Affirmation annually to the NYSE. In addition, each listed company must submit an interim Written Affirmation each time a change occurs to the board or any of the committees subject to Section 303A. The annual and interim Written Affirmations must be in the form specified by the NYSE.
|
We have complied with this requirement to date and intend to continue to comply going forward.
|
|
Website
|
||
Listed companies must have and maintain a publicly accessible website
|
We have and maintain a publicly accessible website.
|
|
(a)
|
Report of Independent Registered Public Accounting Firm of the Company dated March 11, 2015
(page F-1).
|
|
(b)
|
Consolidated Balance Sheets of the Company and subsidiaries as of December 31, 2013 and 2014 (page F-2 to F-4).
|
|
(c)
|
Consolidated Statements of Comprehensive Income of the Company and subsidiaries for the years ended December 31, 2012, 2013 and 2014 (page F-5 to F-6).
|
|
(d)
|
Consolidated Statements of Changes in Equity of the Company and subsidiaries for the years ended December 31, 2012, 2013 and 2014 (page F-7 to F-8).
|
|
(e)
|
Consolidated Statements of Cash Flows of the Company and subsidiaries for the years ended December 31, 2012, 2013 and 2014 (pages F-9 to F-11).
|
|
(f)
|
Notes to Consolidated Financial Statements of the Company and subsidiaries (pages F-12 to F-90).
|
1.
|
Articles of Incorporation of the Registrant (English translation of Chinese).
|
2.
|
(a)
|
Amended and Restated Deposit Agreement dated as of September 29, 2000 among ASE Inc., Citibank N.A., as depositary, and Holders and Beneficial Holders of American Depositary Shares evidenced by American Depositary Receipts issued thereunder, including the form of American Depositary Receipt (incorporated by reference to Exhibit (a) to our registration statement on Form F-6 (File No. 333-108834) filed on September 16, 2003).
|
(b)
|
Letter Agreement dated as of February 1, 2001 by and between ASE Inc. and Citibank N.A., as depositary for the sole purpose of accommodating the surrender of ASE Inc.’s Rule 144A Global Depositary Shares, the issuance of American Depositary Shares and the delivery of American Depositary Receipts in the context of the termination of ASE Inc.’s Rule 144A Depositary Receipts Facility (incorporated by reference to Exhibit (b)(i) to our registration statement on Post-Effective Amendment No. 1 to Form F-6 (File No. 333-108834) filed on April 3, 2006).
|
(c)
|
Letter Agreement dated as of September 25, 2003 by and between ASE Inc. and Citibank N.A., as depositary for the sole purpose of accommodating the issuance of American Depositary Shares upon ASE Inc.’s deposit of its shares with the depositary following the conversion of certain bonds issued by ASE Inc. in accordance with, and subject to, the terms and conditions of the indenture governing such bonds (incorporated by reference to Exhibit (b)(ii) to our registration statement on Post-Effective Amendment No. 1 to Form F-6 (File No. 333-108834) filed on April 3, 2006).
|
|
(d)
|
Amendment No. 1 to Amended and Restated Deposit Agreement dated as of April 6, 2006 among ASE Inc., Citibank N.A., as depositary, and Holders and Beneficial Holders of American Depositary Shares evidenced by American Depositary Receipts issued thereunder, including the form of American
Depositary Receipt (incorporated by reference to Exhibit (a)(ii) to our registration statement on Post-Effective Amendment No. 2 to Form F-6 (File No. 333-108834) filed on October 25, 2006).
|
|
(e)
|
Form of Amendment No. 2 to Amended and Restated Deposit Agreement among ASE Inc., Citibank N.A., as depositary, and Holders and Beneficial Holders of American Depositary Shares evidenced by American Depositary Receipts issued thereunder, including the form of American Depositary Receipt (incorporated by reference to Exhibit (a)(iii) to our registration statement on Post-Effective Amendment No. 2 to Form F-6 (File No. 333-108834) filed on October 25, 2006).
|
4.
|
(a)
|
Asset Purchase Agreement dated as of July 3, 1999 among ASE (Chung Li) Inc., ASE Inc., Motorola Electronics Taiwan, Ltd. and Motorola, Inc. (incorporated by reference to Exhibit 10.2 to ASE Test’s registration statement on Form F-3 (File No. 333-10892) filed on September 27, 1999 (the “ASE Test 1999 Form-3”)).
|
|
(b)
|
Agreement dated as of June 5, 2002 among ASE (Chung Li) Inc., ASE Inc., Motorola Electronics Taiwan, Ltd. and Motorola, Inc. amending certain earn-out arrangements provided for in Section 2.09(b)(ii)(D) of the Asset Purchase Agreement dated as of July 3, 1999 among the same parties (incorporated by reference to Exhibit 4(b) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2002 filed on June 30, 2003).
|
|
(c)
|
Stock Purchase Agreement dated as of July 3, 1999 among ASE Investment (Labuan) Inc., ASE Inc., Motorola Asia Ltd. and Motorola, Inc. relating to the purchase and sale of 100.0% of the common stock of Motorola Korea Ltd. (incorporated by reference to Exhibit 10.3 to the ASE Test 1999 Form F-3).
|
|
(d)
†
|
BGA Immunity Agreement dated as of January 25, 1994 between ASE Inc. and Motorola, Inc. (incorporated by reference to Exhibit 10.6 to the Form F-1).
|
|
(e)
†
|
Amendment dated March 18, 2003 renewing the BGA Immunity Agreement dated as of January 25, 1994 between ASE Inc. and Motorola, Inc. (incorporated by reference to Exhibit 4(g) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2003 filed on June 30, 2004).
|
|
(f)
|
Consent dated June 10, 2004 to the Assignment of the BGA Immunity Agreement between ASE Inc. and Motorola, Inc. dated January 25, 1994 (incorporated by reference to Exhibit 4(h) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2003 filed on June 30, 2004).
|
|
(g)
|
Asset Purchase Agreement by and among Flextronics Manufacturing (M) Sdn Bhd, as Buyer, ASE Electronics (M) Sdn. Bhd. as Company, dated as of October 3, 2005 (incorporated by reference to Exhibit 4(g) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2005 filed on June 19, 2006).
|
|
(h)
|
Joint Venture Agreement dated as of July 14, 2006 among Advanced Semiconductor Engineering, Inc. and Powerchip Semiconductor Corp. relating to the establishment of, and our investment of 60.0% in, PowerASE (incorporated by reference to Exhibit 4(r) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2006 filed on June 25, 2007, as amended).
|
|
(i)
|
Sale and Purchase Agreement dated January 11, 2007 among J&R Holding Limited and Seacoast Profits Limited relating to our acquisition of 100% of GAPT (incorporated by reference to Exhibit 4(s) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2006 filed on June 25, 2007, as amended).
|
|
(j)
|
Equity Interests Transfer Agreement dated August 6, 2007 by and among NXP B.V., NXP Semiconductors Suzhou Ltd. and J&R Holding Limited relating to our acquisition of 60% of ASEN, our joint venture with NXP Semiconductors (incorporated by reference to Exhibit 4(j) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2008 filed on June 24, 2009).
|
|
(k)
|
Scheme Implementation Agreement dated September 4, 2007 between Advanced Semiconductor Engineering, Inc. and ASE Test Limited relating to our acquisition of all the outstanding ordinary shares of, and the privatization of, ASE Test (incorporated by reference to Appendix A to Exhibit (a)(1) to Schedule 13E-3 (File No. 005-55723) filed by ASE Test on January 4, 2008).
|
|
(l)
|
Syndicated Loan Agreement in the amount of NT$24,750 million dated March 3, 2008 among Advanced Semiconductor Engineering, Inc., Citibank, N.A., Taipei Branch and the banks and banking institutions listed on Schedule I thereto relating to our acquisition of all the outstanding ordinary shares of, and the privatization of, ASE Test (incorporated by reference to Exhibit 4(l) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2008 filed on June 24, 2009).
|
|
(m)
|
Equity Purchase Agreement dated March 17, 2008 between Aimhigh Global Corp., TCC Steel and J&R Holding Limited in respect of Weihai Aimhigh Electronic Co. Ltd. relating to our acquisition of 100% of ASE (Weihai), Inc. (incorporated by reference to Exhibit 4(m) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2008 filed on June 24, 2009).
|
|
(n)
|
Syndicated Loan Agreement in the amount of US$200 million dated May 29, 2008 among Advanced Semiconductor Engineering, Inc., Citibank, N.A., Taipei Branch and the banks and banking institutions listed on Schedule I thereto relating to our acquisition of all the outstanding ordinary shares of, and the privatization of, ASE Test (incorporated by reference to Exhibit 4(n) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2008 filed on June 24, 2009).
|
|
(o)
|
Equity Purchase Agreement dated October 25, 2011 between PowerASE Technology, Inc. and certain shareholders of Lu-Chu Development Corporation relating to our acquisition of 72.97% of all the outstanding ordinary shares of Lu-Chu Development Corporation (incorporated by reference to Exhibit 4(o) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2011 filed on April 20, 2012).
|
|
(p)
|
Equity Purchase Agreement dated October 25, 2011 between PowerASE Technology, Inc. and shareholders of Lu-Chu Development Corporation listed on Schedule I thereto relating to our acquisition of 9.3% of all the outstanding ordinary shares of Lu-Chu Development Corporation (incorporated by reference to Exhibit 4(p) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2011 filed on April 20, 2012).
|
|
(q)
|
Equity Purchase Agreement dated November 17, 2011 between ASE Assembly & Test (Shanghai) Limited and Kunshan Ding Yao Real Estate Development Co., Ltd. relating to our acquisition of 10% equity of Shanghai Ding Hui Real Estate Development Co., Ltd. (incorporated by reference to Exhibit 4(q) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2011 filed on April 20, 2012).
|
|
(r)
|
Equity Purchase Agreement dated January 13, 2012 between Advanced Semiconductor Engineering, Inc. and shareholders of Yang Ting Tech Co., Ltd. listed on Schedule I thereto relating to our acquisition of 61.63% of all the outstanding ordinary shares of Yang Ting Tech Co., Ltd. (incorporated by reference to Exhibit 4(r) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2011 filed on April 20, 2012).
|
|
(s)
|
Equity Purchase Agreement dated January 13, 2012 between Advanced Semiconductor Engineering, Inc. and shareholders of Yang Ting Tech Co., Ltd. listed on Schedule I thereto relating to our acquisition of 38.37% of all the outstanding ordinary shares of Yang Ting Tech Co., Ltd. (incorporated by reference to Exhibit 4(s) to our annual report on Form 20-F (File No. 001-16125) for the year ended December 31, 2011 filed on April 20, 2012).
|
8.
|
List of Subsidiaries
|
12.
|
(a)
|
Certification of Jason C.S. Chang, required by Rule 13a-14(a) of the Exchange Act.
|
|
(b)
|
Certification of Joseph Tung, required by Rule 13a-14(a) of the Exchange Act.
|
13.
|
Certification of the Chief Executive Officer and the Chief Financial Officer of Advanced Semiconductor Engineering, Inc. required by Rule 13a-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.
|
15.
|
(a)
|
Consent of Deloitte & Touche.
|
†
|
Does not contain portions for which confidential treatment has been granted.
|
ADVANCED SEMICONDUCTOR ENGINEERING, INC.
|
||||
By:
|
/s/ Joseph Tung
|
|||
Name:
|
Joseph Tung
|
|||
Title:
|
Chief Financial Officer
|
Page
|
|
Consolidated Financial Statements of Advanced Semiconductor Engineering, Inc. and Subsidiaries
|
|
Advanced Semiconductor Engineering,
Inc. and Subsidiaries
Consolidated Financial Statements as of
December 31, 2013 and 2014 and for the
Years Ended December 31, 2012, 2013 and 2014 and
Report of Independent Registered Public Accounting Firm
|
December 31, 2013
|
December 31,
2014
|
|||||||||||
ASSETS
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||
CURRENT ASSETS
|
||||||||||||
Cash and cash equivalents (Notes 4 and 6)
|
$ | 45,026,371 | $ | 51,694,410 | $ | 1,635,899 | ||||||
Financial assets at fair value through profit or loss - current (Notes 4, 5 and 7)
|
2,764,269 | 4,988,843 | 157,875 | |||||||||
Available-for-sale financial assets - current (Notes 4 and 8)
|
2,376,970 | 1,533,265 | 48,521 | |||||||||
Trade receivables, net (Notes 4 and 10)
|
43,235,573 | 52,920,810 | 1,674,709 | |||||||||
Other receivables (Note 4)
|
422,345 | 537,122 | 16,997 | |||||||||
Current tax assets (Notes 4 and 24)
|
150,596 | 65,312 | 2,067 | |||||||||
Inventories (Notes 4, 5 and 11)
|
16,281,236 | 20,163,093 | 638,072 | |||||||||
Inventories related to real estate business (Notes 4, 5, 12, 23 and 34)
|
18,589,255 | 23,986,478 | 759,066 | |||||||||
Other financial assets - current (Notes 4 and 34)
|
278,375 | 638,592 | 20,209 | |||||||||
Other current assets
|
3,051,492 | 3,427,265 | 108,458 | |||||||||
Total current assets
|
132,176,482 | 159,955,190 | 5,061,873 | |||||||||
NON-CURRENT ASSETS
|
||||||||||||
Available-for-sale financial assets - non-current (Notes 4 and 8)
|
1,140,329 | 941,105 | 29,782 | |||||||||
Investments accounted for using the equity method (Notes 4 and 13)
|
1,205,158 | 1,468,242 | 46,463 | |||||||||
Property, plant and equipment (Notes 4, 5, 14, 23, 34 and 35)
|
131,497,331 | 151,587,115 | 4,797,061 | |||||||||
Goodwill (Notes 4, 5 and 15)
|
10,347,820 | 10,445,415 | 330,551 | |||||||||
Other intangible assets (Notes 4, 5, 16 and 23)
|
1,605,824 | 1,467,871 | 46,452 | |||||||||
Deferred tax assets (Notes 4, 5 and 24)
|
3,684,702 | 4,265,220 | 134,975 | |||||||||
Other financial assets - non-current (Notes 4 and 34)
|
354,993 | 367,345 | 11,625 | |||||||||
Long-term prepayments for lease (Note 17)
|
4,072,281 | 2,585,964 | 81,834 | |||||||||
Other non-current assets
|
637,163 | 635,350 | 20,106 | |||||||||
Total non-current assets
|
154,545,601 | 173,763,627 | 5,498,849 | |||||||||
TOTAL
|
$ | 286,722,083 | $ | 333,718,817 | $ | 10,560,722 | ||||||
December 31, 2013
|
December 31,
2014
|
|||||||||||
LIABILITIES AND EQUITY
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||
CURRENT LIABILITIES
|
||||||||||||
Short-term borrowings (Note 18)
|
$ | 44,618,195 | $ | 41,176,033 | $ | 1,303,039 | ||||||
Financial liabilities at fair value through profit or loss - current (Notes 4, 5 and 7)
|
1,853,304 | 2,651,352 | 83,903 | |||||||||
Derivative financial liabilities for hedging - current (Notes 4, 5 and 9)
|
3,310 | - | - | |||||||||
Trade payables
|
28,988,976 | 35,411,281 | 1,120,610 | |||||||||
Other payables (Note 20)
|
14,758,553 | 22,364,516 | 707,738 | |||||||||
Current tax liabilities (Notes 4 and 24)
|
4,225,390 | 6,630,696 | 209,832 | |||||||||
Advance real estate receipts (Note 4)
|
19,248 | 480,325 | 15,200 | |||||||||
Current portion of bonds payable (Notes 4 and 19)
|
731,438 | - | - | |||||||||
Current portion of long-term borrowings (Notes 18 and 34)
|
5,276,206 | 2,831,007 | 89,589 | |||||||||
Other current liabilities
|
1,585,177 | 2,134,917 | 67,561 | |||||||||
Total current liabilities
|
102,059,797 | 113,680,127 | 3,597,472 | |||||||||
NON-CURRENT LIABILITIES
|
||||||||||||
Bonds payable (Notes 4 and 19)
|
20,582,567 | 31,270,131 | 989,561 | |||||||||
Long-term borrowings (Notes 18 and 34)
|
29,580,659 | 24,104,424 | 762,798 | |||||||||
Deferred tax liabilities (Notes 4, 5 and 24)
|
2,663,767 | 3,932,819 | 124,456 | |||||||||
Long-term payables (Note 20)
|
894,150 | - | - | |||||||||
Accrued pension liabilities (Notes 4, 5 and 21)
|
4,545,960 | 4,382,530 | 138,688 | |||||||||
Other non-current liabilities
|
651,171 | 657,392 | 20,804 | |||||||||
Total non-current liabilities
|
58,918,274 | 64,347,296 | 2,036,307 | |||||||||
Total liabilities
|
160,978,071 | 178,027,423 | 5,633,779 | |||||||||
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY (Notes 4 and 22)
|
||||||||||||
Share capital
|
78,180,258 | 78,715,179 | 2,490,987 | |||||||||
Capital surplus
|
7,921,375 | 16,013,980 | 506,772 | |||||||||
Retained earnings
|
||||||||||||
Legal reserve
|
8,720,971 | 10,289,878 | 325,629 | |||||||||
Special reserve
|
3,663,930 | 3,353,938 | 106,137 | |||||||||
Unappropriated earnings
|
25,190,778 | 36,000,026 | 1,139,241 | |||||||||
Total retained earnings
|
37,575,679 | 49,643,842 | 1,571,007 | |||||||||
Other equity
|
(102,554 | ) | 5,067,640 | 160,368 | ||||||||
Treasury shares
|
(1,959,107 | ) | (1,959,107 | ) | (61,997 | ) | ||||||
Equity attributable to owners of the Company
|
121,615,651 | 147,481,534 | 4,667,137 | |||||||||
December 31, 2013
|
December 31,
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
NON-CONTROLLING INTERESTS (Notes 4 and 22)
|
$ | 4,128,361 | $ | 8,209,860 | $ | 259,806 | ||||||
Total equity
|
125,744,012 | 155,691,394 | 4,926,943 | |||||||||
TOTAL
|
$ | 286,722,083 | $ | 333,718,817 | $ | 10,560,722 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
OPERATING REVENUES (Note 4)
|
$ | 193,972,392 | $ | 219,862,446 | $ | 256,591,447 | $ | 8,119,983 | ||||||||
OPERATING COSTS (Notes 11, 21 and 23)
|
157,342,744 | 177,040,435 | 203,002,918 | 6,424,143 | ||||||||||||
GROSS PROFIT
|
36,629,648 | 42,822,011 | 53,588,529 | 1,695,840 | ||||||||||||
OPERATING EXPENSES (Notes 21 and 23)
|
||||||||||||||||
Selling and marketing expenses
|
2,766,880 | 2,982,789 | 3,438,166 | 108,803 | ||||||||||||
General and administrative expenses
|
8,283,264 | 8,712,862 | 10,214,810 | 323,254 | ||||||||||||
Research and development expenses
|
7,872,422 | 9,064,712 | 10,289,684 | 325,623 | ||||||||||||
Total operating expenses
|
18,922,566 | 20,760,363 | 23,942,660 | 757,680 | ||||||||||||
Other income and expenses (Notes 20 and 23)
|
83,192 | (1,348,246 | ) | 228,615 | 7,235 | |||||||||||
PROFIT FROM OPERATIONS
|
17,790,274 | 20,713,402 | 29,874,484 | 945,395 | ||||||||||||
NON-OPERATING INCOME AND EXPENSES
|
||||||||||||||||
Other income (Note 23)
|
553,088 | 493,884 | 529,251 | 16,749 | ||||||||||||
Other gains and losses (Note 23)
|
244,830 | 447,886 | 607,299 | 19,218 | ||||||||||||
Finance costs (Note 23)
|
(2,042,544 | ) | (2,307,455 | ) | (2,354,097 | ) | (74,497 | ) | ||||||||
Share of the profit or loss of associates (Note 4)
|
63,076 | 22,039 | (121,882 | ) | (3,857 | ) | ||||||||||
Total non-operating income and expenses
|
(1,181,550 | ) | (1,343,646 | ) | (1,339,429 | ) | (42,387 | ) | ||||||||
PROFIT BEFORE INCOME TAX
|
16,608,724 | 19,369,756 | 28,535,055 | 903,008 | ||||||||||||
INCOME TAX EXPENSE (Notes 4, 5 and 24)
|
2,960,426 | 3,499,595 | 5,665,954 | 179,302 | ||||||||||||
PROFIT FOR THE YEAR
|
13,648,298 | 15,870,161 | 22,869,101 | 723,706 | ||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS)
|
||||||||||||||||
Items that will not be reclassified subsequently to profit or loss:
|
||||||||||||||||
Remeasurement of defined benefit obligation
|
(818,546 | ) | 412,225 | (28,145 | ) | (891 | ) | |||||||||
Share of other comprehensive income of associates
|
- | - | (1,031 | ) | (32 | ) |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Income tax relating to items that will not be reclassified subsequently
|
$ | 140,880 | $ | (66,706 | ) | $ | 23,885 | $ | 756 | |||||||
(677,666 | ) | 345,519 | (5,291 | ) | (167 | ) | ||||||||||
Items that may be reclassified subsequently to profit or loss:
|
||||||||||||||||
Exchange differences on translating foreign operations
|
(3,269,623 | ) | 2,817,268 | 5,405,008 | 171,044 | |||||||||||
Unrealized gain (loss) on available-for-sale financial assets
|
16,539 | 14,839 | (133,714 | ) | (4,232 | ) | ||||||||||
Cash flow hedges
|
53,755 | 1,245 | 3,279 | 104 | ||||||||||||
Share of other comprehensive income of associates
|
55,401 | 55,183 | 235,156 | 7,442 | ||||||||||||
Income tax relating to items that may be reclassified subsequently
|
(9,138 | ) | (769 | ) | - | - | ||||||||||
(3,153,066 | ) | 2,887,766 | 5,509,729 | 174,358 | ||||||||||||
Other comprehensive income (loss) for the year, net of income tax
|
(3,830,732 | ) | 3,233,285 | 5,504,438 | 174,191 | |||||||||||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
|
$ | 9,817,566 | $ | 19,103,446 | $ | 28,373,539 | $ | 897,897 | ||||||||
PROFIT FOR THE YEAR ATTRIBUTABLE TO:
|
||||||||||||||||
Owners of the Company
|
$ | 13,191,617 | $ | 15,404,505 | $ | 22,228,602 | $ | 703,437 | ||||||||
Non-controlling interests
|
456,681 | 465,656 | 640,499 | 20,269 | ||||||||||||
$ | 13,648,298 | $ | 15,870,161 | $ | 22,869,101 | $ | 723,706 | |||||||||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO:
|
||||||||||||||||
Owners of the Company
|
$ | 9,420,363 | $ | 18,509,604 | $ | 27,394,362 | $ | 866,910 | ||||||||
Non-controlling interests
|
397,203 | 593,842 | 979,177 | 30,987 | ||||||||||||
$ | 9,817,566 | $ | 19,103,446 | $ | 28,373,539 | $ | 897,897 | |||||||||
EARNINGS PER SHARE (Note 25)
|
||||||||||||||||
Basic
|
$ | 1.77 | $ | 2.05 | $ | 2.89 | $ | 0.09 | ||||||||
Diluted
|
$ | 1.73 | $ | 1.99 | $ | 2.79 | $ | 0.09 | ||||||||
EARNINGS PER AMERICAN DEPOSIT SHARE (“ADS”)
|
||||||||||||||||
Basic
|
$ | 8.86 | $ | 10.26 | $ | 14.46 | $ | 0.46 | ||||||||
Diluted
|
$ | 8.65 | $ | 9.96 | $ | 13.93 | $ | 0.44 | ||||||||
Equity Attributable to Owners of the Company
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Equity
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange Differences on Translating Foreign Operations | Unrealized Gain on Available- for-sale Financial Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Capital
|
Retained Earnings
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares (In Thousands) | Amounts | Capital Surplus | Legal Reserve | Special Reserve | Unappropriated Earnings | Total | Cash Flow Hedges | Total | Treasury Shares | Total | Non-controlling Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2012
|
6,755,707 | $ | 67,571,325 | $ | 3,976,014 | $ | 6,039,239 | $ | 1,272,417 | $ | 23,915,690 | $ | 31,227,346 | $ | - | $ | 283,460 | $ | (48,372 | ) | $ | 235,088 | $ | (4,731,741 | ) | $ | 98,278,032 | $ | 1,512,947 | $ | 99,790,979 | |||||||||||||||||||||||||||||
Profit for the year ended December 31, 2012
|
- | - | - | - | - | 13,191,617 | 13,191,617 | - | - | - | - | - | 13,191,617 | 456,681 | 13,648,298 | |||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for the year ended December 31, 2012, net of income tax
|
- | - | - | - | - | (677,417 | ) | (677,417 | ) | (3,210,248 | ) | 71,794 | 44,617 | (3,093,837 | ) | - | (3,771,254 | ) | (59,478 | ) | (3,830,732 | ) | ||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss) for the year ended December 31, 2012
|
- | - | - | - | - | 12,514,200 | 12,514,200 | (3,210,248 | ) | 71,794 | 44,617 | (3,093,837 | ) | - | 9,420,363 | 397,203 | 9,817,566 | |||||||||||||||||||||||||||||||||||||||||||
Appropriation of 2011 earnings
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal reserve
|
- | - | - | 1,372,596 | - | (1,372,596 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Special reserve
|
- | - | - | - | (1,272,417 | ) | 1,272,417 | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by the Company
|
- | - | - | - | - | (4,325,284 | ) | (4,325,284 | ) | - | - | - | - | - | (4,325,284 | ) | - | (4,325,284 | ) | |||||||||||||||||||||||||||||||||||||||||
Share dividends distributed by the Company
|
931,600 | 9,315,995 | - | - | - | (9,315,995 | ) | (9,315,995 | ) | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||
931,600 | 9,315,995 | - | 1,372,596 | (1,272,417 | ) | (13,741,458 | ) | (13,641,279 | ) | - | - | - | - | - | (4,325,284 | ) | - | (4,325,284 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by subsidiaries
|
- | - | - | - | - | - | - | - | - | - | - | - | - | (22,799 | ) | (22,799 | ) | |||||||||||||||||||||||||||||||||||||||||||
Cancel of treasury shares
|
(105,475 | ) | (1,054,750 | ) | (1,427,861 | ) | - | - | (290,023 | ) | (290,023 | ) | - | - | - | - | 2,772,634 | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Issue of dividends received by subsidiaries from the parent company
|
- | - | 83,117 | - | - | - | - | - | - | - | - | - | 83,117 | - | 83,117 | |||||||||||||||||||||||||||||||||||||||||||||
Changes in capital surplus from investments in associates accounted for using the equity method
|
- | - | 1,790 | - | - | - | - | - | - | - | - | - | 1,790 | - | 1,790 | |||||||||||||||||||||||||||||||||||||||||||||
Partial disposal of interests in subsidiaries and additional acquisition of partially-owned subsidiaries (Notes 22 and 28)
|
- | - | 2,178,714 | - | - | - | - | - | - | - | - | - | 2,178,714 | 1,443,198 | 3,621,912 | |||||||||||||||||||||||||||||||||||||||||||||
Issue of ordinary shares under employee share options
|
20,460 | 215,097 | 462,860 | - | - | - | - | - | - | - | - | - | 677,957 | 175,194 | 853,151 | |||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2012
|
7,602,292 | 76,047,667 | 5,274,634 | 7,411,835 | - | 22,398,409 | 29,810,244 | (3,210,248 | ) | 355,254 | (3,755 | ) | (2,858,749 | ) | (1,959,107 | ) | 106,314,689 | 3,505,743 | 109,820,432 | |||||||||||||||||||||||||||||||||||||||||
Special reserve under Rule No. 1010012865 issued by the Financial Supervisory Commission (Note 22)
|
- | - | - | - | 3,353,938 | (3,353,938 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Profit for the year ended December 31, 2013
|
- | - | - | - | - | 15,404,505 | 15,404,505 | - | - | - | - | - | 15,404,505 | 465,656 | 15,870,161 | |||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income for the year ended December 31, 2013, net of income tax
|
- | - | - | - | - | 348,904 | 348,904 | 2,684,727 | 70,992 | 476 | 2,756,195 | - | 3,105,099 | 128,186 | 3,233,285 | |||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income for the year ended December 31, 2013
|
- | - | - | - | - | 15,753,409 | 15,753,409 | 2,684,727 | 70,992 | 476 | 2,756,195 | - | 18,509,604 | 593,842 | 19,103,446 | |||||||||||||||||||||||||||||||||||||||||||||
Issue of ordinary shares for cash (Note 22)
|
130,000 | 1,300,000 | 2,093,000 | - | - | - | - | - | - | - | - | - | 3,393,000 | - | 3,393,000 | |||||||||||||||||||||||||||||||||||||||||||||
Appropriation of 2012 earnings
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal reserve
|
- | - | - | 1,309,136 | - | (1,309,136 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Special reserve
|
- | - | - | - | 309,992 | (309,992 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by the Company
|
- | - | - | - | - | (7,987,974 | ) | (7,987,974 | ) | - | - | - | - | - | (7,987,974 | ) | - | (7,987,974 | ) | |||||||||||||||||||||||||||||||||||||||||
- | - | - | 1,309,136 | 309,992 | (9,607,102 | ) | (7,987,974 | ) | - | - | - | - | - | (7,987,974 | ) | - | (7,987,974 | ) | ||||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by subsidiaries
|
- | - | - | - | - | - | - | - | - | - | - | - | - | (99,597 | ) | (99,597 | ) | |||||||||||||||||||||||||||||||||||||||||||
Issue of dividends received by subsidiaries from the parent company
|
- | - | 153,097 | - | - | - | - | - | - | - | - | - | 153,097 | - | 153,097 | |||||||||||||||||||||||||||||||||||||||||||||
Partial disposal of interests in subsidiaries and additional acquisition of partially-owned subsidiaries (Notes 22 and 28)
|
- | - | (330 | ) | - | - | - | - | - | - | - | - | - | (330 | ) | 27,826 | 27,496 | |||||||||||||||||||||||||||||||||||||||||||
Changes in capital surplus from investments in associates accounted for using the equity method
|
- | - | 1,457 | - | - | - | - | - | - | - | - | - | 1,457 | - | 1,457 | |||||||||||||||||||||||||||||||||||||||||||||
Issue of ordinary shares under employee share options
|
55,535 | 832,591 | 399,517 | - | - | - | - | - | - | - | - | - | 1,232,108 | 100,547 | 1,332,655 | |||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2013
|
7,787,827 | 78,180,258 | 7,921,375 | 8,720,971 | 3,663,930 | 25,190,778 | 37,575,679 | (525,521 | ) | 426,246 | (3,279 | ) | (102,554 | ) | (1,959,107 | ) | 121,615,651 | 4,128,361 | 125,744,012 | |||||||||||||||||||||||||||||||||||||||||
Profit for the year ended December 31, 2014
|
- | - | - | - | - | 22,228,602 | 22,228,602 | - | - | - | - | - | 22,228,602 | 640,499 | 22,869,101 | |||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for the year ended December 31, 2014, net of income tax
|
- | - | - | - | - | (4,434 | ) | (4,434 | ) | 5,066,383 | 100,532 | 3,279 | 5,170,194 | - | 5,165,760 | 338,678 | 5,504,438 | |||||||||||||||||||||||||||||||||||||||||||
|
(Continued)
|
Equity Attributable to Owners of the Company
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Equity
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange Differences on Translating Foreign Operations | Unrealized Gain on Available- for-sale Financial Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Capital
|
Retained Earnings
|
Cash Flow Hedges | Non-controlling Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares (In Thousands) | Amounts | Capital Surplus | Legal Reserve | Special Reserve | Unappropriated Earnings | Total | Total | Treasury Shares | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income for the year ended December 31, 2014
|
- | $ | - | $ | - | $ | - | $ | - | $ | 22,224,168 | $ | 22,224,168 | $ | 5,066,383 | $ | 100,532 | $ | 3,279 | $ | 5,170,194 | $ | - | $ | 27,394,362 | $ | 979,177 | $ | 28,373,539 | |||||||||||||||||||||||||||||||
Appropriation of 2013 earnings
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal reserve
|
- | - | - | 1,568,907 | - | (1,568,907 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Special reserve
|
- | - | - | - | (309,992 | ) | 309,992 | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by the Company
|
- | - | - | - | - | (10,156,005 | ) | (10,156,005 | ) | - | - | - | - | - | (10,156,005 | ) | - | (10,156,005 | ) | |||||||||||||||||||||||||||||||||||||||||
- | - | - | 1,568,907 | (309,992 | ) | (11,414,920 | ) | (10,156,005 | ) | - | - | - | - | - | (10,156,005 | ) | - | (10,156,005 | ) | |||||||||||||||||||||||||||||||||||||||||
Issue of dividends received by subsidiaries from the parent company
|
- | - | 188,790 | - | - | - | - | - | - | - | - | - | 188,790 | - | 188,790 | |||||||||||||||||||||||||||||||||||||||||||||
Partial disposal of interests in subsidiaries and additional acquisition of partially-owned subsidiaries(Notes 22 and 28)
|
- | - | 6,876,866 | - | - | - | - | - | - | - | - | - | 6,876,866 | 3,067,712 | 9,944,578 | |||||||||||||||||||||||||||||||||||||||||||||
Changes in capital surplus from investments in associates accounted for using the equity method
|
- | - | 26,884 | - | - | - | - | - | - | - | - | - | 26,884 | - | 26,884 | |||||||||||||||||||||||||||||||||||||||||||||
Issue of ordinary shares under employee share options
|
73,898 | 534,921 | 1,000,065 | - | - | - | - | - | - | - | - | - | 1,534,986 | 120,376 | 1,655,362 | |||||||||||||||||||||||||||||||||||||||||||||
Cash dividends distributed by subsidiaries
|
- | - | - | - | - | - | - | - | - | - | - | - | - | (85,766 | ) | (85,766 | ) | |||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2014
|
7,861,725 | $ | 78,715,179 | $ | 16,013,980 | $ | 10,289,878 | $ | 3,353,938 | $ | 36,000,026 | $ | 49,643,842 | $ | 4,540,862 | $ | 526,778 | $ | - | $ | 5,067,640 | $ | (1,959,107 | ) | $ | 147,481,534 | $ | 8,209,860 | $ | 155,691,394 | ||||||||||||||||||||||||||||||
US. DOLLARS (Note 4)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2014
|
7,861,725 | $ | 2,490,987 | $ | 506,772 | $ | 325,629 | $ | 106,137 | $ | 1,139,241 | $ | 1,571,007 | $ | 143,698 | $ | 16,670 | $ | - | $ | 160,368 | $ | (61,997 | ) | $ | 4,667,137 | $ | 259,806 | $ | 4,926,943 | ||||||||||||||||||||||||||||||
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||||||||||
Profit before income tax
|
$ | 16,608,724 | $ | 19,369,756 | $ | 28,535,055 | $ | 903,008 | ||||||||
Adjustments for:
|
||||||||||||||||
Depreciation expense
|
22,473,857 | 24,696,607 | 25,805,042 | 816,615 | ||||||||||||
Amortization expense
|
962,022 | 774,304 | 545,734 | 17,270 | ||||||||||||
Net (gains) losses on fair value change of financial assets and liabilities at fair value through profit or loss
|
717,664 | (795,359 | ) | (1,838,840 | ) | (58,191 | ) | |||||||||
Interest expense
|
2,004,315 | 2,257,144 | 2,324,426 | 73,558 | ||||||||||||
Interest income
|
(322,197 | ) | (212,801 | ) | (243,474 | ) | (7,705 | ) | ||||||||
Dividend income
|
(66,129 | ) | (131,449 | ) | (101,252 | ) | (3,204 | ) | ||||||||
Compensation cost of employee share options
|
537,461 | 260,801 | 110,157 | 3,486 | ||||||||||||
Share of loss (profit) of associates
|
(63,076 | ) | (22,039 | ) | 121,882 | 3,857 | ||||||||||
Impairment loss recognized on financial assets
|
23,693 | 196,325 | 28,421 | 899 | ||||||||||||
Impairment loss recognized on non-financial assets
|
592,972 | 949,015 | 899,480 | 28,465 | ||||||||||||
(Reversal of) compensation cost for the settlement of legal claims
|
- | 894,150 | (91,305 | ) | (2,889 | ) | ||||||||||
Others
|
(263,456 | ) | 451,240 | 1,808,677 | 57,236 | |||||||||||
Changes in operating assets and liabilities
|
||||||||||||||||
Financial assets held for trading
|
871,970 | 1,122,280 | 823,313 | 26,054 | ||||||||||||
Trade receivables
|
(6,683,680 | ) | (5,767,254 | ) | (9,703,070 | ) | (307,059 | ) | ||||||||
Other receivables
|
252,044 | (6,540 | ) | (8,625 | ) | (273 | ) | |||||||||
Inventories
|
(2,434,715 | ) | (3,241,115 | ) | (8,208,824 | ) | (259,773 | ) | ||||||||
Other current assets
|
(543,304 | ) | (108,425 | ) | 102,353 | 3,239 | ||||||||||
Financial liabilities held for trading
|
(805,635 | ) | (1,011,975 | ) | (835,779 | ) | (26,449 | ) | ||||||||
Trade payables
|
2,992,599 | 4,722,462 | 6,422,305 | 203,238 | ||||||||||||
Other payables
|
(96,222 | ) | 1,068,223 | 3,045,452 | 96,375 | |||||||||||
Other current liabilities
|
738,146 | 2,796 | 703,764 | 22,271 | ||||||||||||
Other operating activities items
|
(695,839 | ) | (191,631 | ) | (187,727 | ) | (5,941 | ) | ||||||||
36,801,214 | 45,276,515 | 50,057,165 | 1,584,087 | |||||||||||||
Interest received
|
337,819 | 182,164 | 233,457 | 7,388 | ||||||||||||
Dividend received
|
121,033 | 176,058 | 101,252 | 3,204 | ||||||||||||
Interest paid
|
(2,140,357 | ) | (2,200,143 | ) | (2,065,244 | ) | (65,356 | ) | ||||||||
Income tax paid
|
(2,081,690 | ) | (2,138,639 | ) | (2,463,153 | ) | (77,947 | ) | ||||||||
Net cash generated from operating activities
|
33,038,019 | 41,295,955 | 45,863,477 | 1,451,376 | ||||||||||||
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||||||||||
Purchase of financial assets designated as at fair value through profit or loss
|
$ | (11,624,529 | ) | $ | (53,135,894 | ) | $ | (108,958,658 | ) | $ | (3,448,059 | ) | ||||
Proceeds from disposal of financial assets designated as at fair value through profit or loss
|
7,788,016 | 55,032,536 | 109,825,159 | 3,475,480 | ||||||||||||
Purchase of available-for-sale financial assets
|
(891,233 | ) | (3,474,152 | ) | (3,565,428 | ) | (112,830 | ) | ||||||||
Proceeds on sale of available-for-sale financial assets
|
824,343 | 1,093,408 | 4,388,130 | 138,865 | ||||||||||||
Cash received from return of capital by available-for-sale financial assets
|
34,598 | 27,368 | 20,411 | 646 | ||||||||||||
Purchase of held-to-maturity financial assets
|
- | (88,169 | ) | - | - | |||||||||||
Proceeds on sale of held-to-maturity financial assets
|
- | 73,716 | - | - | ||||||||||||
Purchase of Investments accounted for using the equity method
|
- | - | (100,000 | ) | (3,165 | ) | ||||||||||
Net cash outflow on acquisition of subsidiaries
|
(261,607 | ) | (250,387 | ) | - | - | ||||||||||
Payments for property, plant and equipment
|
(39,029,496 | ) | (29,142,719 | ) | (39,598,964 | ) | (1,253,132 | ) | ||||||||
Proceeds from disposal of property, plant and equipment
|
484,800 | 351,546 | 421,207 | 13,329 | ||||||||||||
Payments for intangible assets
|
(445,951 | ) | (313,110 | ) | (396,466 | ) | (12,546 | ) | ||||||||
Proceeds from disposal of intangible assets
|
4,309 | - | - | - | ||||||||||||
Decrease in other financial assets
|
217,468 | 4,513 | (372,569 | ) | (11,790 | ) | ||||||||||
Increase in other non-current assets
|
(918,566 | ) | (104,499 | ) | (480,711 | ) | (15,212 | ) | ||||||||
Net cash used in investing activities
|
(43,817,848 | ) | (29,925,843 | ) | (38,817,889 | ) | (1,228,414 | ) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||||||
Net proceeds from (repayment of) short-term borrowings
|
13,919,793 | 7,051,874 | (3,442,162 | ) | (108,929 | ) | ||||||||||
Proceeds from issue of bonds
|
- | 11,900,051 | 8,888,562 | 281,284 | ||||||||||||
Repayment of bonds
|
- | - | (729,790 | ) | (23,095 | ) | ||||||||||
Proceeds from long-term borrowings
|
13,840,778 | 28,715,694 | 32,030,868 | 1,013,635 | ||||||||||||
Repayment of long-term borrowings
|
(18,969,491 | ) | (31,382,333 | ) | (40,978,403 | ) | (1,296,785 | ) | ||||||||
Dividends paid
|
(4,242,167 | ) | (7,834,877 | ) | (9,967,215 | ) | (315,418 | ) | ||||||||
Proceeds from issue of ordinary shares
|
- | 3,393,000 | - | - | ||||||||||||
Proceeds from exercise of employee share options
|
315,690 | 1,071,854 | 1,498,343 | 47,416 | ||||||||||||
Increase (decrease) in non-controlling interests
|
3,602,439 | (72,101 | ) | 9,905,673 | 313,470 | |||||||||||
Other financing activities items
|
(11,287 | ) | (48,291 | ) | (2,879 | ) | (91 | ) |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Net cash generated from (used in) financing activities
|
$ | 8,455,755 | $ | 12,794,871 | $ | (2,797,003 | ) | $ | (88,513 | ) | ||||||
EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF CASH AND CASH EQUIVALENTS HELD IN FOREIGN CURRENCIES
|
(1,649,455 | ) | 867,872 | 2,419,454 | 76,565 | |||||||||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
(3,973,529 | ) | 25,032,855 | 6,668,039 | 211,014 | |||||||||||
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
|
23,967,045 | 19,993,516 | 45,026,371 | 1,424,885 | ||||||||||||
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
|
$ | 19,993,516 | $ | 45,026,371 | $ | 51,694,410 | $ | 1,635,899 |
1.
|
GENERAL INFORMATION
|
2.
|
APPROVAL OF FINANCIAL STATEMENTS
|
3.
|
APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ISSUED BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD
|
a.
|
Amendments to IFRSs and the new interpretation that are mandatorily effective for the current year
|
b.
|
New and revised or amended standards and interpretations in issue but not yet effective
|
New, Revised or Amended Standards and Interpretations
|
Effective Date Issued by IASB (Note)
|
|||
IFRSs (Amendments)
|
Annual Improvements to IFRSs: 2010-2012 Cycle
|
July 1, 2014
|
||
IFRSs (Amendments)
|
Annual Improvements to IFRSs: 2011-2013 Cycle
|
July 1, 2014
|
||
IFRSs (Amendments)
|
Annual Improvements to IFRSs: 2012-2014 Cycle
|
January 1, 2016
|
||
IFRS 9
|
Financial Instruments
|
January 1, 2018
|
||
Amendments to IFRS 9 and IFRS 7
|
Mandatory Effective Date of IFRS 9 and Transition Disclosures
|
January 1, 2018
|
||
Amendments to IFRS 10 and IAS 28
|
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
|
January 1, 2016
|
||
Amendments to IFRS 10, IFRS 12 and IAS 28
|
Investment Entities: Applying the Consolidation Exception
|
January 1, 2016
|
||
Amendments to IFRS 11
|
Accounting for Acquisitions of Interests in Joint Operations
|
January 1, 2016
|
||
IFRS 14
|
Regulatory Deferral Accounts
|
January 1, 2016
|
||
IFRS 15
|
Revenue from Contracts with Customers
|
January 1, 2017
|
||
Amendment to IAS 1
|
Disclosure Initiative
|
January 1, 2016
|
||
Amendments to IAS 16 and IAS 38
|
Clarification of Acceptable Methods of Depreciation and Amortization
|
January 1, 2016
|
||
Amendments to IAS 16 and IAS 41
|
Agriculture: Bearer Plants
|
January 1, 2016
|
||
Amendment to IAS 19
|
Defined Benefit Plans: Employee Contributions
|
July 1, 2014
|
||
Amendment to IAS 27
|
Equity Method in Separate Financial Statements
|
January 1, 2016
|
|
Note:
|
The aforementioned new, revised or amended standards or interpretations are effective for annual period beginning on or after the effective dates, unless specified otherwise.
|
b.
|
Significant changes in accounting policy resulted from new, revised and amended standards and interpretations in issue but not yet effective
|
1)
|
For debt instruments, if they are held within a business model whose objective is to collect the contractual cash flows, the financial assets are measured at amortized cost and are assessed for impairment continuously with impairment loss recognized in profit or loss, if any. Interest revenue is recognized in profit or loss by using the effective interest method;
|
2)
|
For debt instruments, if they are held within a business model whose objective is achieved by both the collecting of contractual cash flows and the selling of financial assets, the financial assets are measured at fair value through other comprehensive income (FVTOCI) and are assessed for impairment. Interest revenue is recognized in profit or loss by using the effective interest method, and other gain or loss shall be recognized in other comprehensive income, except for impairment gains or losses and foreign exchange gains and losses. When the debt instruments are derecognized or reclassified, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss.
|
|
—
|
Identify the contract with the customer;
|
|
—
|
Identify the performance obligations in the contract;
|
|
—
|
Determine the transaction price;
|
|
—
|
Allocate the transaction price to the performance obligations in the contracts; and
|
|
—
|
Recognize revenue when the entity satisfies a performance obligation.
|
4.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
a.
|
Statement of Compliance
|
b.
|
Basis of Preparation
|
c.
|
Classification of Current and Non-current Assets and Liabilities
|
d.
|
Basis of Consolidation
|
|
1)
|
Principles for preparing consolidated financial statements
|
|
—
|
has power over the investee;
|
|
—
|
is exposed, or has rights, to variable returns from its involvement with the investee; and
|
|
—
|
has the ability to use its power to affect its returns.
|
|
—
|
the size of the Group's holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
|
|
—
|
potential voting rights held by the Group, other vote holders or other parties;
|
|
—
|
rights arising from other contractual arrangements; and
|
|
—
|
any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders' meetings.
|
|
2)
|
Subsidiaries included in the consolidated financial statements
|
Percentage of Ownership (%)
|
||||||||
Establishment and
|
December 31
|
|||||||
Name of Investee
|
Main Businesses
|
Operating Location
|
2013
|
2014
|
||||
A.S.E. Holding Limited
|
Holding company
|
Bermuda
|
100.0
|
100.0
|
||||
J & R Holding Limited (J&R Holding)
|
Holding company
|
Bermuda
|
100.0
|
100.0
|
||||
Innosource Limited
|
Holding company
|
British Virgin Islands
|
100.0
|
100.0
|
||||
Omniquest Industrial Limited
|
Holding company
|
British Virgin Islands
|
100.0
|
100.0
|
||||
ASE Marketing & Service Japan Co., Ltd.
|
Engaged in marketing and sales services
|
Japan
|
100.0
|
100.0
|
||||
ASE Test, Inc.
|
Engaged in the testing of semiconductors
|
Kaohsiung, ROC
|
100.0
|
100.0
|
||||
Universal Scientific Industrial Co., Ltd. (USI)
|
Engaged in the manufacturing, processing and sale of computers, computer peripherals and related accessories.
|
Nantou, ROC
|
99.2
|
99.2
|
||||
Luchu Development Corporation
|
Engaged in the development of real estate properties
|
Taipei, ROC
|
86.1
|
86.1
|
||||
Alto Enterprises Limited
|
Holding company
|
British Virgin Islands
|
100.0
|
100.0
|
Percentage of Ownership (%)
|
||||||||
Establishment and
|
December 31
|
|||||||
Name of Investee
|
Main Businesses
|
Operating Location
|
2013
|
2014
|
||||
Super Zone Holdings Limited
|
Holding company
|
Hong Kong
|
100.0
|
100.0
|
||||
ASE (Kun Shan) Inc.
|
Engaged in the packaging and testing of semiconductors
|
Kun Shan, China
|
100.0
|
100.0
|
||||
ASE Investment (Kun Shan) Limited
|
Holding company
|
Kun Shan, China
|
100.0
|
100.0
|
||||
Advanced Semiconductor Engineering (China) Ltd.
|
Will engage in the packaging and testing of semiconductors
|
Shanghai, China
|
100.0
|
100.0
|
||||
ASE Investment (Labuan) Inc.
|
Holding company
|
Malaysia
|
100.0
|
100.0
|
||||
ASE Test Limited (ASE Test)
|
Holding company
|
Singapore
|
100.0
|
100.0
|
||||
ASE (Korea) Inc. (ASE Korea)
|
Engaged in the packaging and testing of semiconductors
|
Korea
|
100.0
|
100.0
|
||||
J&R Industrial Inc.
|
Engaged in leasing equipment and investing activity
|
Kaohsiung, ROC
|
100.0
|
100.0
|
||||
ASE Japan Co., Ltd. (ASE Japan)
|
Engaged in the packaging and testing of semiconductors
|
Japan
|
100.0
|
100.0
|
||||
ASE (U.S.) Inc. (ASE US)
|
After-sales service and sales support
|
U.S.A.
|
100.0
|
100.0
|
||||
Global Advanced Packaging Technology Limited, Cayman Islands
|
Holding company
|
British Cayman Islands
|
100.0
|
100.0
|
||||
ASE WeiHai Inc.
|
Engaged in the packaging and testing of semiconductors
|
Shandong, China
|
100.0
|
100.0
|
||||
Suzhou ASEN Semiconductors Co., Ltd.
|
Engaged in the packaging and testing of semiconductors
|
Suzhou, China
|
60.0
|
60.0
|
||||
Anstock Limited
|
Engaged in financing activity
|
British Cayman Islands
|
100.0
|
100.0
|
||||
Anstock II Limited
|
Engaged in financing activity and established in July 2014
|
British Cayman Islands
|
-
|
100.0
|
||||
ASE Module (Shanghai) Inc.
|
Will engage in the production and sale of electronic components and printed circuit boards
|
Shanghai, China
|
100.0
|
100.0
|
||||
ASE (Shanghai) Inc.
|
Engaged in the production of substrates
|
Shanghai, China
|
100.0
|
100.0
|
||||
ASE Corporation
|
Holding company
|
British Cayman Islands
|
100.0
|
100.0
|
||||
ASE Mauritius Inc.
|
Holding company
|
Mauritius
|
100.0
|
100.0
|
||||
ASE Labuan Inc.
|
Holding company
|
Malaysia
|
100.0
|
100.0
|
||||
ASE Module (Kunshan) Inc.
|
Merged into ASE (Kun Shan) Inc. in September 2014
|
Kun Shan, China
|
100.0
|
-
|
Percentage of Ownership (%)
|
||||||||
Establishment and
|
December 31
|
|||||||
Name of Investee
|
Main Businesses
|
Operating Location
|
2013
|
2014
|
||||
Shanghai Ding Hui Real Estate Development Co., Ltd.
|
Engaged in the development, construction and sale of real estate properties
|
Shanghai, China
|
100.0
|
100.0
|
||||
Advanced Semiconductor Engineering (HK) Limited
|
Engaged in the trading of substrates
|
Hong Kong
|
100.0
|
100.0
|
||||
Shanghai Ding Wei Real Estate Development Co., Ltd.
|
Engaged in the development, construction and leasing of real estate properties
|
Shanghai, China
|
100.0
|
100.0
|
||||
Shanghai Ding Yu Real Estate Development Co., Ltd.
|
Engaged in the development, construction and leasing of real estate properties
|
Shanghai, China
|
100.0
|
100.0
|
||||
Kun Shan Ding Yue Real Estate Development Co., Ltd.
|
Engaged in the development, construction and leasing of real estate properties
|
Kun Shan, China
|
100.0
|
100.0
|
||||
Kun Shan Ding Hong Real Estate Development Co., Ltd.
|
Engaged in the development, construction and leasing of real estate properties
|
Kun Shan, China
|
100.0
|
100.0
|
||||
ASE Electronics Inc.
|
Engaged in the production of substrates
|
Kaohsiung, ROC
|
100.0
|
100.0
|
||||
ASE Test Holdings, Ltd.
|
Holding company
|
British Cayman Islands
|
100.0
|
100.0
|
||||
ASE Holdings (Singapore) Pte Ltd
|
Holding company
|
Singapore
|
100.0
|
100.0
|
||||
ASE Test Finance Limited
|
Engaged in financing activity
|
Mauritius
|
100.0
|
100.0
|
||||
ASE Singapore Pte. Ltd.
|
Engaged in the packaging and testing of semiconductors
|
Singapore
|
100.0
|
100.0
|
||||
ISE Labs, Inc.
|
Engaged in the testing of semiconductors
|
U.S.A.
|
100.0
|
100.0
|
||||
ASE Electronics (M) Sdn. Bhd.
|
Engaged in the packaging and testing of semiconductors
|
Malaysia
|
100.0
|
100.0
|
||||
ASE Assembly & Test (Shanghai) Limited
|
Engaged in the packaging and testing of semiconductors
|
Shanghai, China
|
100.0
|
100.0
|
||||
Wuxi Tongzhi Microelectronics Co., Ltd. (Wuxi Tongzhi)
|
Engaged in the packaging and testing of semiconductors
|
Wuxi, China
|
100.0
|
100.0
|
||||
Huntington Holdings International Co., Ltd.
|
Holding company
|
British Virgin Islands
|
99.2
|
99.2
|
||||
Senetex Investment Co., Ltd.
|
In the process of liquidation
|
Nantou, ROC
|
99.2
|
99.2
|
||||
Unitech Holdings International Co., Ltd.
|
Holding company
|
British Virgin Islands
|
99.2
|
99.2
|
||||
Real Tech Holdings Limited
|
Holding company
|
British Virgin Islands
|
99.2
|
99.2
|
||||
Universal ABIT Holding Co., Ltd.
|
Holding company
|
British Cayman Islands
|
99.2
|
99.2
|
||||
Rising Capital Investment Limited
|
Holding company
|
British Virgin Islands
|
99.2
|
99.2
|
Percentage of Ownership (%)
|
||||||||
Establishment and
|
December 31
|
|||||||
Name of Investee
|
Main Businesses
|
Operating Location
|
2013
|
2014
|
||||
Rise Accord Limited
|
Holding company
|
British Virgin Islands
|
99.2
|
99.2
|
||||
Cubuy Corporation
|
Engaged in the trading of computer systems
|
Shanghai, China
|
99.2
|
99.2
|
||||
Universal Scientific Industrial (Kunshan) Co., Ltd.
|
Engaged in the manufacturing and sale of computer assistance system and related peripherals
|
Kun Shan, China
|
99.2
|
99.2
|
||||
USI Enterprise Limited (“USIE”)
|
Engaged in the services of investment advisory and warehousing management
|
Hong Kong
|
99.1
|
98.7
|
||||
Universal Scientific Industrial (Shanghai) Co., Ltd. (“USISH”)
|
Engaged in the designing, manufacturing and sale of electronic components
|
Shanghai, China
|
88.6
|
82.1
|
||||
Universal Global Technology Co., Limited
|
Holding company
|
Hong Kong
|
88.6
|
82.1
|
||||
Universal Global Technology (Kunshan) Co., Ltd.
|
Engaged in the designing and manufacturing of electronic components
|
Kun Shan, China
|
88.6
|
82.1
|
||||
Universal Global Technology (Shanghai) Co., Ltd.
|
Engaged in theprocessing and sales of computer and communication peripherals as well as business in import and export of goods and technology
|
Shanghai, China
|
88.6
|
82.1
|
||||
Universal Global Electronics (Shanghai) Co., Ltd.
|
Engaged in the sale of electronic components and telecommunications equipment and established in May 2014
|
Shanghai, China
|
-
|
82.1
|
||||
Universal Global Technology (Shenzhen) Co., Ltd.
|
Liquidated in March 2014
|
Shenzhen, China
|
88.6
|
-
|
||||
Universal Global Industrial Co., Limited
|
Engaged in manufacturing, trading and investing activity
|
Hong Kong
|
88.6
|
82.1
|
||||
Universal Global Scientific Industrial Co., Ltd.
|
Engaged in the manufacturing of components of telecomm and cars and provision of related R&D services
|
Nantou, ROC
|
88.6
|
82.1
|
||||
USI Manufacturing Service, Inc.
|
Engaged in the manufacturing and processing of motherboards and wireless network communication and provision of related technical service
|
U.S.A.
|
88.6
|
82.1
|
Percentage of Ownership (%)
|
||||||||
Establishment and
|
December 31
|
|||||||
Name of Investee
|
Main Businesses
|
Operating Location
|
2013
|
2014
|
||||
Universal Scientific Industrial De Mexico S.A. De C.V.
|
Engaged in the assembling of motherboards and computer components
|
Mexico
|
88.6
|
82.1
|
||||
USI Japan Co., Ltd.
|
Engaged in the manufacturing and sale of computer peripherals, integrated chip and other related accessories
|
Japan
|
88.6
|
82.1
|
||||
USI@Work, Inc.
|
After-sale service
|
U.S.A.
|
88.6
|
82.1
|
||||
USI Electronics (Shenzhen) Co., Ltd.
|
Engaged in the design, manufacturing and sale of motherboards and computer peripherals
|
Shenzhen, China
|
88.6
|
82.1
|
e.
|
Business Combinations
|
f.
|
Foreign Currencies
|
g.
|
Cash Equivalents
|
h.
|
Inventories and Inventories Related to Real Estate Business
|
i.
|
Investments Accounted for Using the Equity Method
|
j.
|
Property, Plant and Equipment
|
k.
|
Goodwill
|
l.
|
Other Intangible Assets
|
m.
|
Impairment of Tangible and Intangible Assets Other than Goodwill
|
n.
|
Financial Instruments
|
1)
|
Financial assets
|
|
a)
|
Measurement category
|
i.
|
Financial assets at fair value through profit or loss (“FVTPL”)
|
●
|
Such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or
|
●
|
The financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group's documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or
|
●
|
It forms part of a contract containing one or more embedded derivatives, and IAS 39 permits the entire combined contract to be designated as at FVTPL.
|
ii.
|
Available-for-sale financial assets
|
|
iii.
|
Held-to-maturity investments
|
|
iv.
|
Loans and receivables
|
b)
|
Impairment of financial assets
|
|
c)
|
Derecognition of financial assets
|
|
2)
|
Equity instruments
|
|
3)
|
Financial liabilities
|
|
4)
|
Derivative Financial Instruments
|
|
5)
|
Convertible Bonds
|
|
o.
|
Hedge Accounting
|
p.
|
Revenue Recognition
|
1)
|
Sale of goods and real estate properties
|
|
—
|
The Group has transferred to the buyer the significant risks and rewards of ownership of the goods and real estate properties;
|
|
—
|
The Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods and real estate properties sold;
|
|
—
|
The amount of revenue can be reliably measured;
|
|
—
|
It is probable that the economic benefits associated with the transaction will flow to the Group; and
|
|
—
|
The costs incurred or to be incurred in respect of the transaction can be reliably measured.
|
2)
|
Rendering of services
|
3)
|
Dividend and interest income
|
q.
|
Leasing
|
r.
|
Borrowing Costs
|
s.
|
Government grants
|
t.
|
Retirement Benefit Costs
|
|
—
|
service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements);
|
|
—
|
net interest expense or income; and
|
|
—
|
remeasurement.
|
u.
|
Share-based Payment Arrangements
|
v.
|
Taxation
|
|
1)
|
Current tax
|
|
2)
|
Deferred tax
|
|
3)
|
Current and deferred tax for the year
|
|
w.
|
U.S. Dollar Amounts
|
5.
|
CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
|
6.
|
CASH AND CASH EQUIVALENTS
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Cash on hand
|
$ | 40,392 | $ | 9,953 | $ | 315 | ||||||
Checking accounts and demand deposits
|
38,090,014 | 43,059,911 | 1,362,655 | |||||||||
Cash equivalent
|
6,895,965 | 8,624,546 | 272,929 | |||||||||
$ | 45,026,371 | $ | 51,694,410 | $ | 1,635,899 |
7.
|
FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Financial assets designated as at FVTPL
|
||||||||||||
Structured time deposits
|
$ | 2,228,643 | $ | 2,376,050 | $ | 75,192 | ||||||
Private-placement convertible bonds (Note 13)
|
100,500 | 100,500 | 3,180 | |||||||||
2,329,143 | 2,476,550 | 78,372 |
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Financial assets held for trading
|
||||||||||||
Swap contracts
|
$ | 219,324 | $ | 1,907,705 | $ | 60,370 | ||||||
Open-end mutual funds
|
172,000 | 533,425 | 16,881 | |||||||||
Quoted shares
|
33,624 | 43,352 | 1,372 | |||||||||
Forward exchange contracts
|
10,178 | 27,811 | 880 | |||||||||
435,126 | 2,512,293 | 79,503 | ||||||||||
$ | 2,764,269 | $ | 4,988,843 | $ | 157,875 | |||||||
Financial liabilities held for trading
|
||||||||||||
Conversion option, redemption option and put option of convertible bonds (Note 19)
|
$ | 1,742,996 | $ | 2,520,606 | $ | 79,766 | ||||||
Swap contracts
|
74,170 | 99,165 | 3,138 | |||||||||
Forward exchange contracts
|
31,315 | 31,581 | 999 | |||||||||
Cross currency swap contracts
|
4,180 | - | - | |||||||||
Foreign currency option contracts
|
643 | - | - | |||||||||
$ | 1,853,304 | $ | 2,651,352 | $ | 83,903 |
Notional Amount
|
||||
Currency
|
Maturity Period
|
(In Thousands)
|
||
December 31, 2013
|
||||
Sell NT$/Buy US$
|
2014.01-2014.12
|
NT$31,707,176/US$1,075,000
|
||
Sell US$/Buy NT$
|
2014.01-2014.02
|
US$46,500/NT$1,377,874
|
||
Sell US$/Buy JPY
|
2014.02
|
US$53,965/JPY5,550,000
|
||
Sell US$/Buy CNY
|
2014.01-2014.06
|
US$60,000/CNY368,148
|
||
December 31, 2014
|
||||
Sell NT$/Buy US$
|
2015.01-2015.12
|
NT$36,199,735/US$1,209,000
|
||
Sell US$/Buy NT$
|
2015.01-2015.02
|
US$132,100/NT$4,149,958
|
||
Sell US$/Buy JPY
|
2015.01
|
US$72,248/JPY8,450,000
|
||
Sell US$/Buy CNY
|
2015.01-2015.06
|
US$80,000/CNY503,452
|
||
Sell CNY/Buy US$
|
2015.03
|
CNY217,288/US$35,000
|
Notional Amount
|
||||
Currency
|
Maturity Period
|
(In Thousands)
|
||
December 31, 2013
|
||||
Sell US$/Buy NT$
|
2014.01-2014.02
|
US$51,000/NT$1,521,484
|
||
Sell US$/Buy CNY
|
2014.01-2014.04
|
US$88,220/CNY537,100
|
||
Sell US$/Buy MYR
|
2014.01-2014.02
|
US$8,500/MYR27,508
|
||
Sell US$/Buy KRW
|
2014.01
|
US$4,000/KRW4,253,000
|
||
Sell US$/Buy SGD
|
2014.01-2014.02
|
US$9,500/SGD11,870
|
||
Sell US$/Buy JPY
|
2014.01-2014.03
|
US$28,950/JPY3,003,944
|
||
Sell NT$/Buy US$
|
2014.03
|
NT$294,370/US$10,000
|
||
December 31, 2014
|
||||
Sell US$/Buy NT$
|
2015.01
|
US$14,000/NT$438,434
|
||
Sell US$/Buy CNY
|
2015.01-2015.03
|
US$127,000/CNY785,683
|
||
Sell US$/Buy MYR
|
2015.01-2015.02
|
US$6,000/MYR20,860
|
||
Sell US$/Buy SGD
|
2015.01-2015.02
|
US11,700/SGD15,211
|
||
Sell US$/Buy JPY
|
2015.01-2015.04
|
US$18,385/JPY2,177,800
|
Notional Amount
(In Thousands)
|
Maturity Period
|
Range of Interest Rates Paid
|
Range of Interest Rates Received
|
|||
December 31, 2013
|
||||||
NT$598,600/US$20,000
|
2014.07
|
(0.19)
|
0.16
|
|||
Notional Amount
|
||||
Currency
|
Maturity Period
|
(In Thousands)
|
||
December 31, 2013
|
||||
Sell US$ Put/NT$ Call
|
2016.03 (Note)
|
US$4,000/NT$113,400
|
||
Buy US$ Call/NT$ Put
|
2016.03 (Note)
|
US$2,000/NT$56,700
|
||
Note:
|
The contracts will be settled once a month and the counterparty has the right to early terminate the contracts. The aforementioned outstanding contracts as of December 31, 2013 were all early settled in 2014.
|
8.
|
AVAILABLE-FOR-SALE FINANCIAL ASSETS
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Open-end mutual funds
|
$ | 2,321,826 | $ | 1,500,434 | $ | 47,482 | ||||||
Limited partnership
|
583,441 | 555,361 | 17,575 | |||||||||
Unquoted ordinary shares
|
199,051 | 211,726 | 6,700 | |||||||||
Quoted ordinary shares
|
328,656 | 195,070 | 6,173 | |||||||||
Unquoted preferred shares
|
14,670 | 11,779 | 373 | |||||||||
Private-placement ordinary shares
|
69,655 | - | - | |||||||||
3,517,299 | 2,474,370 | 78,303 | ||||||||||
Current
|
2,376,970 | 1,533,265 | 48,521 | |||||||||
Non-current
|
$ | 1,140,329 | $ | 941,105 | $ | 29,782 |
9.
|
DERIVATIVE FINANCIAL INSTRUMENTS FOR HEDGING
|
Maturity Period
|
Notional Amount
(In Thousands)
|
Interest Rates
Paid (%)
|
Interest Rates Received
(%)
|
Expected
Period for
Future Cash
Flow
|
Expected Period for the Recognition of Gains or Losses from
Hedging
|
|||||
December 31, 2013
|
||||||||||
2014.04
|
CNY 240,000
|
2.00
|
1.05-2.80
|
2014
|
2014
|
10.
|
TRADE RECEIVABLES, NET
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Trade receivables
|
$ | 43,303,693 | $ | 53,004,955 | $ | 1,677,372 | ||||||
Less: Allowance for doubtful debts
|
68,120 | 84,145 | 2,663 | |||||||||
Trade receivables, net
|
$ | 43,235,573 | $ | 52,920,810 | $ | 1,674,709 |
a.
|
Trade receivables
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Less than 30 days
|
$ | 4,090,787 | $ | 5,191,521 | $ | 164,289 | ||||||
31 to 90 days
|
195,741 | 131,247 | 4,153 | |||||||||
More than 91 days
|
1,585 | 1,407 | 45 | |||||||||
Total
|
$ | 4,288,113 | $ | 5,324,175 | $ | 168,487 |
Individually
Assessed for
Impairment
|
Collectively
Assessed for
Impairment
|
Total
|
||||||||||
NT$
|
NT$
|
NT$
|
||||||||||
Balance at January 1, 2012
|
$ | 70,750 | $ | 58,119 | $ | 128,869 | ||||||
Impairment losses reversed
|
(34,893 | ) | (9,202 | ) | (44,095 | ) | ||||||
Amount written off during the period as uncollectible
|
(1,132 | ) | (990 | ) | (2,122 | ) | ||||||
Effect of foreign currency exchange
|
(500 | ) | (2,015 | ) | (2,515 | ) | ||||||
Balance at December 31, 2012
|
$ | 34,225 | $ | 45,912 | $ | 80,137 | ||||||
Balance at January 1, 2013
|
$ | 34,225 | $ | 45,912 | $ | 80,137 | ||||||
Impairment losses reversed
|
(5,860 | ) | (4,033 | ) | (9,893 | ) | ||||||
Amount written off during the period as uncollectible
|
- | (757 | ) | (757 | ) | |||||||
Effect of foreign currency exchange
|
(1,480 | ) | 113 | (1,367 | ) | |||||||
Balance at December 31, 2013
|
$ | 26,885 | $ | 41,235 | $ | 68,120 |
Individually
Assessed for
Impairment
|
Collectively
Assessed for
Impairment
|
Total
|
||||||||||
NT$
|
NT$
|
NT$
|
||||||||||
Balance at January 1, 2014
|
$ | 26,885 | $ | 41,235 | $ | 68,120 | ||||||
Impairment losses recognized
|
2,875 | 15,156 | 18,031 | |||||||||
Amount written off during the period as uncollectible
|
(891 | ) | (917 | ) | (1,808 | ) | ||||||
Effect of foreign currency exchange
|
(564 | ) | 366 | (198 | ) | |||||||
Balance at December 31, 2014
|
$ | 28,305 | $ | 55,840 | $ | 84,145 |
Individually
Assessed for
Impairment
|
Collectively
Assessed for
Impairment
|
Total
|
||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
||||||||||
Balance at January 1, 2014
|
$ | 851 | $ | 1,305 | $ | 2,156 | ||||||
Impairment losses recognized
|
91 | 479 | 570 | |||||||||
Amount written off during the period as uncollectible
|
(28 | ) | (29 | ) | (57 | ) | ||||||
Effect of foreign currency exchange
|
(18 | ) | 12 | (6 | ) | |||||||
Balance at December 31, 2014
|
$ | 896 | $ | 1,767 | $ | 2,663 |
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Not past due
|
$ | - | $ | 2,701 | $ | 85 | ||||||
Less than 30 days
|
11,501 | 31,422 | 994 | |||||||||
31 to 90 days
|
109,376 | 174,805 | 5,532 | |||||||||
More than 91 days
|
115,203 | 86,665 | 2,743 | |||||||||
Total
|
$ | 236,080 | $ | 295,593 | $ | 9,354 |
b.
|
Transfers of financial assets
|
Counterparties
|
Receivables
Sold
(In Thousands)
|
Amounts
Collected
(In Thousands)
|
Advances
Received
At Year-end
(In Thousands)
|
Interest Rates
on Advances
Received
(%)
|
Credit Line
(In Thousands)
|
|||||||||||||||
Year ended December 31, 2013
|
||||||||||||||||||||
Citi bank
|
US$ | 258,660 | US$ | 202,532 | US$ | 56,128 | 1.06 | US$ | 92,000 | |||||||||||
Year ended December 31, 2014
|
||||||||||||||||||||
Citi bank
|
US$ | 103,744 | US$ | 103,744 | - | - | US$ | 92,000 |
11.
|
INVENTORIES
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Finished goods
|
$ | 4,863,676 | $ | 6,568,459 | $ | 207,862 | ||||||
Work in process
|
1,701,257 | 2,064,377 | 65,328 | |||||||||
Raw materials
|
8,766,638 | 10,155,006 | 321,361 | |||||||||
Supplies
|
573,588 | 797,353 | 25,233 | |||||||||
Raw materials and supplies in transit
|
376,077 | 577,898 | 18,288 | |||||||||
$ | 16,281,236 | $ | 20,163,093 | $ | 638,072 |
12.
|
INVENTORIES RELATED TO REAL ESTATE BUSINESS
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Land and buildings held for sale
|
$ | 16,764 | $ | 5,558 | $ | 176 | ||||||
Construction in progress
|
13,676,668 | 22,242,065 | 703,863 | |||||||||
Land held for construction
|
1,682,735 | 1,738,855 | 55,027 | |||||||||
Prepayments for land use rights
|
3,213,088 | - | - | |||||||||
$ | 18,589,255 | $ | 23,986,478 | $ | 759,066 |
13.
|
INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
|
Carrying Amount as of December 31
|
||||||||||||||
Main
|
Establishment and
|
2013
|
2014
|
|||||||||||
Name of Associate
|
Business
|
Operating Location
|
NT$
|
NT$
|
US$
|
|||||||||
(Note 4)
|
||||||||||||||
Listed company
|
||||||||||||||
Hung Ching Development & Construction Co. (“HC”)
|
Engaged in the development, construction and leasing of real estate properties
|
ROC
|
$ | 1,152,153 | $ | 1,327,201 | $ | 42,000 | ||||||
Advanced Microeletronic Products, Inc.
(“AMPI”)
|
Engaged in integrated circuit
|
ROC
|
- | 99,052 | 3,134 | |||||||||
Unlisted companies
|
||||||||||||||
Hung Ching Kwan Co. (“HCK”)
|
Engaged in the leasing of real estate properties
|
ROC
|
353,154 | 342,138 | 10,827 | |||||||||
StarChips Technology Inc. (“SCT”)
|
Engaged in design, manufacturing and sale of LED driver IC
|
ROC
|
47,856 | - | - | |||||||||
1,553,163 | 1,768,391 | 55,961 | ||||||||||||
Less: Deferred gain on transfer of land
|
300,149 | 300,149 | 9,498 | |||||||||||
Accumulated impairment - SCT
|
47,856 | - | - | |||||||||||
$ | 1,205,158 | $ | 1,468,242 | $ | 46,463 |
a.
|
The percentage of ownership held by the Group was as follow:
|
December 31
|
||||||||
Name of Associate
|
2013
|
2014
|
||||||
HC
|
26.2 | % | 26.2 | % | ||||
AMPI
|
- | 18.2 | % | |||||
HCK
|
27.3 | % | 27.3 | % | ||||
SCT
|
33.3 | % | - |
|
b.
|
In January 2014, the Company subscribed for 20,000 thousand private-placement ordinary shares of AMPI in NT$100,000 thousand (US$3,165 thousand). The Company obtained significant influence over AMPI since the percentage of ownership was increased to 27.4% after taking into account the shares previously held which were recognized as available-for-sale financial assets. The private-placement ordinary shares were restricted for disposal during a 3-year lock-up period. In addition, the Company did not join AMPI’s cash capital increase in February and April 2014 and, as the result, the percentage of ownership decreased from 27.4% to 18.2%. After the consideration of potential voting rights that are currently convertible, the Company still has significant influence over AMPI.
|
|
c.
|
The Company did not subscribe for SCT’s cash capital increase in May 2014 and, therefore, the percentage of ownership decreased from 33.3% to 5.6%. As the result, the Company had no significant influence over SCT and the investment in SCT was reclassified to available-for-sale financial assets.
|
|
d.
|
Fair values of investments in associates for which there are published price quotation are summarized as follows, based on the closing price, which is a level 1 input in terms of IFRS 13, of those investments at the balance sheet date,:
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
Name of Associate
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||
HC
|
$ | 1,242,199 | $ | 1,427,499 | $ | 45,174 | ||||||
AMPI
|
$ | - | $ | 184,862 | $ | 5,850 |
|
e.
|
Aggregate information of associates that are not individually material was summarized as follows:
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
The Group’s share of profits (Note)
|
$ | 78,947 | $ | 76,783 | $ | 133,927 | $ | 4,238 | ||||||||
The Group’s share of other comprehensive income, net of income tax
|
55,401 | 56,485 | 234,125 | 7,409 | ||||||||||||
The Group’s share of total comprehensive income
|
$ | 134,348 | $ | 133,268 | $ | 368,052 | $ | 11,647 |
14.
|
PROPERTY, PLANT AND EQUIPMENT
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Land
|
$ | 3,295,758 | $ | 3,348,018 | $ | 105,950 | ||||||
Buildings and improvements
|
44,766,601 | 56,395,710 | 1,784,674 | |||||||||
Machinery and equipment
|
75,085,182 | 84,171,647 | 2,663,660 | |||||||||
Transportation equipment
|
82,228 | 88,119 | 2,788 | |||||||||
Furniture and fixtures
|
1,243,556 | 1,310,703 | 41,478 | |||||||||
Leased assets and leasehold improvement
|
14,304 | 417,865 | 13,224 | |||||||||
Construction in progress and machinery in transit
|
7,009,702 | 5,855,053 | 185,287 | |||||||||
$ | 131,497,331 | $ | 151,587,115 | $ | 4,797,061 |
Land
|
Buildings and improvements
|
Machinery and equipment
|
Transportation equipment
|
Furniture and fixtures
|
Leased assets and leasehold improvement
|
Construction in progress and machinery
in transit
|
Total
|
|||||||||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||||||||
Cost
|
||||||||||||||||||||||||||||||||
Balance at January 1, 2012
|
$ | 3,309,074 | $ | 57,156,997 | $ | 178,376,359 | $ | 291,694 | $ | 5,360,029 | $ | 540,841 | $ | 8,472,341 | $ | 253,507,335 | ||||||||||||||||
Additions
|
- | 5,668,397 | 24,602,273 | 25,344 | 366,786 | 56,612 | 8,257,413 | 38,976,825 | ||||||||||||||||||||||||
Disposals
|
- | (91,760 | ) | (12,721,889 | ) | (21,695 | ) | (264,301 | ) | (16,166 | ) | (248,402 | ) | (13,364,213 | ) | |||||||||||||||||
Reclassification
|
- | 1,744,929 | 6,558,800 | 6,184 | 197,816 | (355,518 | ) | (8,141,020 | ) | 11,191 | ||||||||||||||||||||||
Acquisitions through business combinations
|
- | 67,194 | 319,175 | - | - | - | - | 386,369 | ||||||||||||||||||||||||
Effect of foreign currency exchange differences
|
(34,988 | ) | (1,063,018 | ) | (3,160,750 | ) | (7,150 | ) | (224,617 | ) | (14,292 | ) | (161,505 | ) | (4,666,320 | ) | ||||||||||||||||
Balance at December 31, 2012
|
$ | 3,274,086 | $ | 63,482,739 | $ | 193,973,968 | $ | 294,377 | $ | 5,435,713 | $ | 211,477 | $ | 8,178,827 | $ | 274,851,187 | ||||||||||||||||
Accumulated depreciation and impairment
|
||||||||||||||||||||||||||||||||
Balance at January 1, 2012
|
$ | - | $ | 19,443,081 | $ | 116,397,207 | $ | 197,510 | $ | 4,078,287 | $ | 395,194 | $ | - | $ | 140,511,279 | ||||||||||||||||
Depreciation expense
|
- | 3,340,498 | 18,500,676 | 29,379 | 519,168 | 84,136 | - | 22,473,857 | ||||||||||||||||||||||||
Impairment losses recognized
|
- | 27,974 | 45,567 | - | - | - | - | 73,541 | ||||||||||||||||||||||||
Disposals
|
- | (183,311 | ) | (12,564,694 | ) | (15,514 | ) | (162,264 | ) | (13,878 | ) | - | (12,939,661 | ) | ||||||||||||||||||
Reclassification
|
- | (10,317 | ) | 360,098 | (123 | ) | (20,884 | ) | (326,297 | ) | - | 2,477 | ||||||||||||||||||||
Acquisitions through business combinations
|
- | 2,540 | 117,927 | - | - | - | - | 120,467 | ||||||||||||||||||||||||
Effect of foreign currency exchange differences
|
- | (313,319 | ) | (2,081,330 | ) | (4,235 | ) | (178,694 | ) | (10,969 | ) | - | (2,588,547 | ) | ||||||||||||||||||
Balance at December 31, 2012
|
$ | - | $ | 22,307,146 | $ | 120,775,451 | $ | 207,017 | $ | 4,235,613 | $ | 128,186 | $ | - | $ | 147,653,413 |
Land
|
Buildings and improvements
|
Machinery and equipment
|
Transportation equipment
|
Furniture and fixtures
|
Leased assets and leasehold improvement
|
Construction in progress and machinery
in transit
|
Total
|
|||||||||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||||||||
Cost
|
||||||||||||||||||||||||||||||||
Balance at January 1,2013
|
$ | 3,274,086 | $ | 63,482,739 | $ | 193,973,968 | $ | 294,377 | $ | 5,435,713 | $ | 211,477 | $ | 8,178,827 | $ | 274,851,187 | ||||||||||||||||
Additions
|
- | 5,447,913 | 14,484,611 | 22,920 | 285,276 | 10,645 | 6,792,707 | 27,044,072 | ||||||||||||||||||||||||
Disposals
|
- | (412,648 | ) | (9,479,630 | ) | (42,581 | ) | (154,622 | ) | - | (38,565 | ) | (10,128,046 | ) | ||||||||||||||||||
Reclassification
|
- | 758,850 | 7,661,570 | 4,935 | 241,193 | (103,337 | ) | (8,638,840 | ) | (75,629 | ) | |||||||||||||||||||||
Acquisitions through business combinations
|
- | 5,106 | 278,862 | 114 | 121,994 | - | - | 406,076 | ||||||||||||||||||||||||
Effect of foreign currency exchange differences
|
21,672 | 1,311,577 | 1,432,524 | 8,806 | 43,747 | 3,932 | 715,573 | 3,537,831 | ||||||||||||||||||||||||
Balance at December 31,2013
|
$ | 3,295,758 | $ | 70,593,537 | $ | 208,351,905 | $ | 288,571 | $ | 5,973,301 | $ | 122,717 | $ | 7,009,702 | $ | 295,635,491 | ||||||||||||||||
Accumulated depreciation and impairment
|
||||||||||||||||||||||||||||||||
Balance at January 1,2013
|
$ | - | $ | 22,307,146 | $ | 120,775,451 | $ | 207,017 | $ | 4,235,613 | $ | 128,186 | $ | - | $ | 147,653,413 | ||||||||||||||||
Depreciation expense
|
- | 3,555,865 | 20,486,896 | 26,766 | 566,575 | 60,505 | - | 24,696,607 | ||||||||||||||||||||||||
Impairment losses recognized (reversed)
|
- | (15,754 | ) | 508,894 | - | 2,407 | - | - | 495,547 | |||||||||||||||||||||||
Disposals
|
- | (368,707 | ) | (9,285,927 | ) | (34,810 | ) | (131,561 | ) | - | - | (9,821,005 | ) | |||||||||||||||||||
Reclassification
|
- | (24,797 | ) | 58,448 | 2,016 | 35,491 | (83,242 | ) | - | (12,084 | ) | |||||||||||||||||||||
Acquisitions through business combinations
|
- | 2,473 | 108,365 | 4 | 36,814 | - | - | 147,656 | ||||||||||||||||||||||||
Effect of foreign currency exchange differences
|
- | 370,710 | 614,596 | 5,350 | (15,594 | ) | 2,964 | - | 978,026 | |||||||||||||||||||||||
Balance at December 31,2013
|
$ | - | $ | 25,826,936 | $ | 133,266,723 | $ | 206,343 | $ | 4,729,745 | $ | 108,413 | $ | - | $ | 164,138,160 |
Land
|
Buildings and improvements
|
Machinery and equipment
|
Transportation equipment
|
Furniture and fixtures
|
Leased assets and leasehold improvement
|
Construction in progress and machinery
in transit
|
Total
|
|||||||||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||||||||
Cost
|
||||||||||||||||||||||||||||||||
Balance at January 1,2014
|
$ | 3,295,758 | $ | 70,593,537 | $ | 208,351,905 | $ | 288,571 | $ | 5,973,301 | $ | 122,717 | $ | 7,009,702 | $ | 295,635,491 | ||||||||||||||||
Additions
|
- | 1,246,123 | 1,140,822 | 8,603 | 87,903 | 476,260 | 40,488,876 | 43,448,587 | ||||||||||||||||||||||||
Disposals
|
- | (299,515 | ) | (8,188,532 | ) | (26,982 | ) | (312,774 | ) | (107,291 | ) | (56,209 | ) | (8,991,303 | ) | |||||||||||||||||
Reclassification
|
- | 12,683,476 | 27,935,525 | 26,832 | 378,928 | (10,645 | ) | (41,044,364 | ) | (30,248 | ) | |||||||||||||||||||||
Effect of foreign currency exchange differences
|
52,260 | 2,501,633 | 4,429,907 | 11,103 | 263,949 | 2,099 | (535,788 | ) | 6,725,163 | |||||||||||||||||||||||
Balance at December 31,2014
|
$ | 3,348,018 | $ | 86,725,254 | $ | 233,669,627 | $ | 308,127 | $ | 6,391,307 | $ | 483,140 | $ | 5,862,217 | $ | 336,787,690 | ||||||||||||||||
Accumulated depreciation and impairment
|
||||||||||||||||||||||||||||||||
Balance at January 1,2014
|
$ | - | $ | 25,826,936 | $ | 133,266,723 | $ | 206,343 | $ | 4,729,745 | $ | 108,413 | $ | - | $ | 164,138,160 | ||||||||||||||||
Depreciation expense
|
- | 3,980,337 | 21,180,214 | 30,152 | 550,126 | 64,213 | - | 25,805,042 | ||||||||||||||||||||||||
Impairment losses recognized
|
- | 79,124 | 211,466 | - | - | - | 7,164 | 297,754 | ||||||||||||||||||||||||
Disposals
|
- | (248,477 | ) | (7,786,216 | ) | (24,199 | ) | (302,373 | ) | (107,291 | ) | - | (8,468,556 | ) | ||||||||||||||||||
Reclassification
|
- | 7,459 | (7,122 | ) | - | (6,133 | ) | (1,774 | ) | - | (7,570 | ) | ||||||||||||||||||||
Effect of foreign currency exchange differences
|
- | 684,165 | 2,632,915 | 7,712 | 109,239 | 1,714 | - | 3,435,745 | ||||||||||||||||||||||||
Balance at December 31,2014
|
$ | - | $ | 30,329,544 | $ | 149,497,980 | $ | 220,008 | $ | 5,080,604 | $ | 65,275 | $ | 7,164 | $ | 185,200,575 |
Land
|
Buildings and improvements
|
Machinery and equipment
|
Transportation equipment
|
Furniture and fixtures
|
Leased assets and leasehold improvement
|
Construction in progress and machinery
in transit
|
Total
|
|||||||||||||||||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
|||||||||||||||||||||||||
Cost
|
||||||||||||||||||||||||||||||||
Balance at January 1,2014
|
$ | 104,296 | $ | 2,233,973 | $ | 6,593,415 | $ | 9,132 | $ | 189,029 | $ | 3,883 | $ | 221,826 | $ | 9,355,554 | ||||||||||||||||
Additions
|
- | 39,434 | 36,102 | 272 | 2,782 | 15,072 | 1,281,294 | 1,374,956 | ||||||||||||||||||||||||
Disposals
|
- | (9,478 | ) | (259,131 | ) | (854 | ) | (9,898 | ) | (3,395 | ) | (1,779 | ) | (284,535 | ) | |||||||||||||||||
Reclassification
|
- | 401,376 | 884,036 | 849 | 11,991 | (337 | ) | (1,298,872 | ) | (957 | ) | |||||||||||||||||||||
Effect of foreign currency exchange differences
|
1,654 | 79,165 | 140,187 | 351 | 8,352 | 67 | (16,955 | ) | 212,821 | |||||||||||||||||||||||
Balance at December 31,2014
|
$ | 105,950 | $ | 2,744,470 | $ | 7,394,609 | $ | 9,750 | $ | 202,256 | $ | 15,290 | $ | 185,514 | $ | 10,657,839 | ||||||||||||||||
Accumulated depreciation and impairment
|
||||||||||||||||||||||||||||||||
Balance at January 1,2014
|
$ | - | $ | 817,308 | $ | 4,217,301 | $ | 6,530 | $ | 149,675 | $ | 3,431 | $ | - | $ | 5,194,245 | ||||||||||||||||
Depreciation expense
|
- | 125,960 | 670,260 | 954 | 17,409 | 2,032 | - | 816,615 | ||||||||||||||||||||||||
Impairment losses recognized
|
- | 2,504 | 6,692 | - | - | - | 227 | 9,423 | ||||||||||||||||||||||||
Disposals
|
- | (7,863 | ) | (246,399 | ) | (766 | ) | (9,569 | ) | (3,395 | ) | - | (267,992 | ) | ||||||||||||||||||
Reclassification
|
- | 236 | (225 | ) | - | (194 | ) | (56 | ) | - | (239 | ) | ||||||||||||||||||||
Effect of foreign currency exchange differences
|
- | 21,651 | 83,320 | 244 | 3,457 | 54 | - | 108,726 | ||||||||||||||||||||||||
Balance at December 31,2014
|
$ | -- | $ | 959,796 | $ | 4,730,949 | $ | 6,962 | $ | 160,778 | $ | 2,066 | $ | 227 | $ | 5,860,778 |
Buildings and improvements
|
||||
Main plant buildings
|
10-40 years
|
|||
Cleanrooms
|
10-20 years
|
|||
Others
|
3-20 years
|
|||
Machinery and equipment
|
2-10 years
|
|||
Transportation equipment
|
2-7 years
|
|||
Furniture and fixtures
|
2-20 years
|
|||
Leased assets and leasehold improvements
|
2-10 years
|
15.
|
GOODWILL
|
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Cost
|
||||||||||||
Balance at January 1
|
$ | 12,295,819 | $ | 12,336,816 | $ | 390,406 | ||||||
Effect of foreign currency exchange differences
|
40,997 | 97,595 | 3,088 | |||||||||
Balance at December 31
|
$ | 12,336,816 | $ | 12,434,411 | $ | 393,494 | ||||||
Accumulated impairment
|
||||||||||||
Balance at January 1 and December 31
|
$ | (1,988,996 | ) | $ | (1,988,996 | ) | $ | (62,943 | ) |
a.
|
Allocating goodwill to cash-generating units
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
Cash-generating units
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||
Testing segment
|
$ | 7,777,268 | $ | 7,846,460 | $ | 248,306 | ||||||
Others
|
2,570,552 | 2,598,955 | 82,245 | |||||||||
$ | 10,347,820 | $ | 10,445,415 | $ | 330,551 |
b.
|
Impairment assessment
|
16.
|
OTHER
I
NTANGIBLE ASSETS
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Patents
|
$ | 35,751 | $ | 15,768 | $ | 499 | ||||||
Acquired specific technology
|
88,674 | 5,116 | 162 | |||||||||
Customer relationships
|
654,821 | 501,501 | 15,870 | |||||||||
Computer software and others
|
826,578 | 945,486 | 29,921 | |||||||||
$ | 1,605,824 | $ | 1,467,871 | $ | 46,452 |
Patents
|
Acquired Specific Technology
|
Customer Relationships
|
Computer Software and Others
|
Total
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
Cost
|
||||||||||||||||||||
Balance at January 1, 2012
|
$ | 1,029,944 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,146,432 | $ | 6,869,338 | ||||||||||
Additions
|
3,611 | - | - | 442,340 | 445,951 | |||||||||||||||
Disposals
|
- | - | - | (33,149 | ) | (33,149 | ) | |||||||||||||
Reclassification
|
235 | - | - | 4,035 | 4,270 | |||||||||||||||
Acquisitions through business combinations
|
- | - | - | 1,721 | 1,721 | |||||||||||||||
Effect of foreign currency exchange differences
|
(15,257 | ) | - | - | (39,067 | ) | (54,324 | ) | ||||||||||||
Balance at December 31, 2012
|
$ | 1,018,533 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,522,312 | $ | 7,233,807 | ||||||||||
Accumulated amortization
|
||||||||||||||||||||
Balance at January 1, 2012
|
$ | 542,189 | $ | 657,249 | $ | 596,252 | $ | 2,514,155 | $ | 4,309,845 | ||||||||||
Amortization expense
|
245,477 | 225,376 | 180,348 | 310,821 | 962,022 | |||||||||||||||
Disposals
|
- | - | - | (28,840 | ) | (28,840 | ) | |||||||||||||
Reclassification
|
16 | - | - | 13,466 | 13,482 | |||||||||||||||
Acquisitions through business combinations
|
- | - | - | 1,112 | 1,112 | |||||||||||||||
Effect of foreign currency exchange differences
|
(13,523 | ) | - | - | (64,737 | ) | (78,260 | ) | ||||||||||||
Balance at December 31, 2012
|
$ | 774,159 | $ | 882,625 | $ | 776,600 | $ | 2,745,977 | $ | 5,179,361 |
Patents
|
Acquired Specific Technology
|
Customer Relationships
|
Computer Software and Others
|
Total
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
Cost
|
||||||||||||||||||||
Balance at January 1, 2013
|
$ | 1,018,533 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,522,312 | $ | 7,233,807 | ||||||||||
Additions
|
- | - | - | 313,110 | 313,110 | |||||||||||||||
Disposals
|
- | - | - | (11,294 | ) | (11,294 | ) | |||||||||||||
Reclassification
|
- | - | - | (8,684 | ) | (8,684 | ) | |||||||||||||
Acquisitions through business combinations
|
- | - | - | 3,508 | 3,508 | |||||||||||||||
Effect of foreign currency exchange differences
|
3,217 | - | - | 29,841 | 33,058 | |||||||||||||||
Balance at December 31, 2013
|
$ | 1,021,750 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,848,793 | $ | 7,563,505 | ||||||||||
Accumulated amortization
|
||||||||||||||||||||
Balance at January 1, 2013
|
$ | 774,159 | $ | 882,625 | $ | 776,600 | $ | 2,745,977 | $ | 5,179,361 | ||||||||||
Amortization expense
|
210,900 | 142,648 | 147,594 | 273,162 | 774,304 | |||||||||||||||
Disposals
|
- | - | - | (11,294 | ) | (11,294 | ) | |||||||||||||
Reclassification
|
- | - | - | 25 | 25 | |||||||||||||||
Acquisitions through business combinations
|
- | - | - | 688 | 688 | |||||||||||||||
Effect of foreign currency exchange differences
|
940 | - | - | 13,657 | 14,597 | |||||||||||||||
Balance at December 31, 2013
|
$ | 985,999 | $ | 1,025,273 | $ | 924,194 | $ | 3,022,215 | $ | 5,957,681 |
Patents
|
Acquired Specific Technology
|
Customer Relationships
|
Computer Software and Others
|
Total
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
Cost
|
||||||||||||||||||||
Balance at January 1, 2014
|
$ | 1,021,750 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,848,793 | $ | 7,563,505 | ||||||||||
Additions
|
- | - | - | 396,466 | 396,466 | |||||||||||||||
Disposals or derecognization
|
- | - | - | (1,239,163 | ) | (1,239,163 | ) | |||||||||||||
Reclassification
|
- | - | - | 6,228 | 6,228 | |||||||||||||||
Effect of foreign currency exchange differences
|
3,441 | - | - | 55,017 | 58,458 | |||||||||||||||
Balance at December 31, 2014
|
$ | 1,025,191 | $ | 1,113,947 | $ | 1,579,015 | $ | 3,067,341 | $ | 6,785,494 | ||||||||||
Patents
|
Acquired Specific Technology
|
Customer Relationships
|
Computer Software and Others
|
Total
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
Accumulated amortization
|
||||||||||||||||||||
Balance at January 1, 2014
|
$ | 985,999 | $ | 1,025,273 | $ | 924,194 | $ | 3,022,215 | $ | 5,957,681 | ||||||||||
Amortization expense
|
21,958 | 83,558 | 153,320 | 286,898 | 545,734 | |||||||||||||||
Disposals or derecognization
|
- | - | - | (1,227,346 | ) | (1,227,346 | ) | |||||||||||||
Reclassification
|
- | - | - | 2,516 | 2,516 | |||||||||||||||
Effect of foreign currency exchange differences
|
1,466 | - | - | 37,572 | 39,038 | |||||||||||||||
Balance at December 31, 2014
|
$ | 1,009,423 | $ | 1,108,831 | $ | 1,077,514 | $ | 2,121,855 | $ | 5,317,623 |
Patents
|
Acquired Specific Technology
|
Customer Relationships
|
Computer Software and Others
|
Total
|
||||||||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
||||||||||||||||
Cost
|
||||||||||||||||||||
Balance at January 1, 2014
|
$ | 32,334 | $ | 35,251 | $ | 49,969 | $ | 121,797 | $ | 239,351 | ||||||||||
Additions
|
- | - | - | 12,546 | 12,546 | |||||||||||||||
Disposals or derecognization
|
- | - | - | (39,214 | ) | (39,214 | ) | |||||||||||||
Reclassification
|
- | - | - | 197 | 197 | |||||||||||||||
Effect of foreign currency exchange differences
|
109 | - | - | 1,743 | 1,852 | |||||||||||||||
Balance at December 31, 2014
|
$ | 32,443 | $ | 35,251 | $ | 49,969 | $ | 97,069 | $ | 214,732 | ||||||||||
Accumulated amortization
|
||||||||||||||||||||
Balance at January 1, 2014
|
$ | 31,203 | $ | 32,445 | $ | 29,247 | $ | 95,640 | $ | 188,535 | ||||||||||
Amortization expense
|
695 | 2,644 | 4,852 | 9,079 | 17,270 | |||||||||||||||
Disposals or derecognization
|
- | - | - | (38,840 | ) | (38,840 | ) | |||||||||||||
Reclassification
|
- | - | - | 80 | 80 | |||||||||||||||
Effect of foreign currency exchange differences
|
46 | - | - | 1,189 | 1,235 | |||||||||||||||
Balance at December 31, 2014
|
$ | 31,944 | $ | 35,089 | $ | 34,099 | $ | 67,148 | $ | 168,280 |
Patents
|
5-15 years
|
|||
Acquired specific technology
|
5 years
|
|||
Customer relationships
|
11 years
|
|||
Computer software and others
|
2-32 years
|
17.
|
LONG-TERM PREPAYMENTS FOR LEASE
|
18.
|
BORROWINGS
|
a.
|
Short-term borrowings
|
b.
|
Long-term borrowings
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Specified purpose loans
|
||||||||||||
Repaid in March 2014, annual interest rate was 6.15% as of December 31, 2013
|
$ | 16,080 | $ | - | $ | - | ||||||
Working capital bank loans
|
||||||||||||
Syndicated bank loans - repayable through April 2015 to July 2018, annual interest rates were 0.90%-2.28% and 0.90%-1.83% as of December 31, 2013 and 2014, respectively
|
11,537,135 | 10,760,548 | 340,524 | |||||||||
Others - repayable through January 2016 to August 2019, annual interest rates were 1.04%-4.43% and 1.03%-3.74% as of December 31, 2013 and 2014, respectively
|
22,260,633 | 12,479,650 | 394,926 | |||||||||
Mortgage loans
|
||||||||||||
Repayable through December 2015 to June 2023, annual interest rates were 1.40%-7.20% and 6.77% as of December 31, 2013 and 2014, respectively
|
395,177 | 2,534,483 | 80,205 | |||||||||
34,209,025 | 25,774,681 | 815,655 |
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Less: unamortized arrangement fee
|
$ | 58,722 | $ | 32,225 | $ | 1,020 | ||||||
34,150,303 | 25,742,456 | 814,635 | ||||||||||
Less: current portion
|
5,276,206 | 2,714,131 | 85,890 | |||||||||
Long-term borrowings
|
$ | 28,874,097 | $ | 23,028,325 | $ | 728,745 |
19.
|
BONDS PAYABLE
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Secured domestic bonds - secured by banks
|
||||||||||||
Repayable at maturity in August 2016; interest due annually with annual interest rate 1.45%
|
$ | 8,000,000 | $ | 8,000,000 | $ | 253,164 | ||||||
Unsecured convertible overseas bonds
|
11,922,000 | 12,660,000 | 400,633 | |||||||||
Secured overseas bonds - secured by the Company
|
||||||||||||
US$300,000 thousand, repayable at maturity in July 2017; interest due semi-annually with annual interest rate 2.125%
|
- | 9,495,000 | 300,475 | |||||||||
CNY500,000 thousand, repayable at maturity in September 2016; interest due semi-annually with annual interest rate 4.25%
|
2,444,275 | 2,586,207 | 81,842 | |||||||||
CNY150,000 thousand with annual interest rate 3.13% and repaid in September 2014
|
733,282 | - | - | |||||||||
23,099,557 | 32,741,207 | 1,036,114 | ||||||||||
Less: discounts on bonds payable
|
1,785,552 | 1,471,076 | 46,553 | |||||||||
21,314,005 | 31,270,131 | 989,561 | ||||||||||
Less: current portion
|
731,438 | - | - | |||||||||
$ | 20,582,567 | $ | 31,270,131 | $ | 989,561 |
20.
|
OTHER PAYABLES
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Payables for property, plant and equipment
|
$ | 3,408,603 | $ | 7,097,129 | $ | 224,593 | ||||||
Accrued salary and bonus
|
4,414,581 | 5,550,040 | 175,634 | |||||||||
Accrued bonus to employees and remuneration to directors and supervisors
|
1,778,422 | 2,602,796 | 82,367 | |||||||||
Accrued legal settlement fee
|
- | 814,185 | 25,765 | |||||||||
Accrued employee insurance
|
473,575 | 572,259 | 18,110 | |||||||||
Accrued utilities
|
450,506 | 495,404 | 15,677 | |||||||||
Others
|
4,232,866 | 5,232,703 | 165,592 | |||||||||
$ | 14,758,553 | $ | 22,364,516 | $ | 707,738 |
21.
|
RETIREMENT BENEFIT PLANS
|
a.
|
Defined contribution plans
|
|
1)
|
The pension plan under the ROC Labor Pension Act (“LPA”) for the Group’s ROC resident employees is a government-managed defined contribution plan. Based on the LPA, the Company and its subsidiaries in Taiwan makes monthly contributions to employees’ individual pension accounts at 6% of their monthly salaries.
|
|
2)
|
The subsidiaries located in China, U.S.A., Malaysia, Singapore and Mexico also make contributions at various ranges according to relevant local regulations.
|
|
b.
|
Defined benefit plans
|
|
1)
|
The Company and its subsidiaries in Taiwan joined the defined benefit pension plan under the ROC Labor Standards Law (“LS Law”). Pension benefits are calculated on the basis of the length of service and average monthly salaries of the last six months before retirement. The Company and its subsidiaries in Taiwan make contributions based on a certain percentage of their domestic employees monthly salaries to a pension fund administered by the Labor Pension Fund Supervisory Committee (the Committee) and deposited in the names of the Committees in the Bank of Taiwan.
|
|
2)
|
ASE Japan has a pension plan under which eligible employees with more than ten years of service are entitled to receive pension benefits based on their length of service and salaries at the time of termination of employment. ASE Japan makes contributions based on a certain amount of pension cost to employees.
|
|
3)
|
ASE Inc., ASE Test, Inc. and ASE Electronics Inc. maintain pension plans for executive managers. Pension costs under the plans were NT$34,571 thousand, NT$4,950 thousand and NT$ 16,645 thousand (US$527 thousand) for the years ended December 31, 2012, 2013 and 2014, respectively. Pension payments were NT$37,642 thousand, NT$2,666 thousand and NT$ 25,315 thousand (US$801 thousand) for the years ended December 31, 2012, 2013 and 2014, respectively. As of December 31, 2013 and 2014, accrued pension liabilities for executive managers were NT$208,512 thousand and NT$199,842 thousand (US$6,324 thousand), respectively.
|
|
4)
|
The present value of the defined benefit obligation and the related current service cost and past service cost were measured using the Projected Unit Credit Method.
|
December 31,
2013
|
December 31,
2014
|
|||||
Discount rates
|
0.20%-4.94%
|
0.12%-4.03%
|
||||
Expected rates of salary increase
|
0.00%-5.05%
|
2.00%-4.70%
|
|
5)
|
Amounts recognized in consolidated statements of comprehensive income in respect of the defined benefit plans excluding those for executive managers were as follows:
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Service cost
|
||||||||||||||||
Current service cost
|
$ | 297,861 | $ | 347,629 | $ | 327,707 | $ | 10,370 | ||||||||
Net interest expense
|
97,574 | 77,799 | 79,407 | 2,513 | ||||||||||||
Past service cost
|
- | - | 22,036 | 698 | ||||||||||||
Components of defined benefit costs recognized in profit or loss
|
395,435 | 425,428 | 429,150 | 13,581 | ||||||||||||
Remeasurement on the net defined benefit liability
|
||||||||||||||||
Return on plan assets (excluding amounts included in net interest expense)
|
8,212 | 16,983 | 29,338 | 928 | ||||||||||||
Actuarial losses (gains) arising from changes in financial assumptions
|
360,188 | (465,360 | ) | (46,913 | ) | (1,484 | ) | |||||||||
Actuarial losses arising from experience adjustments
|
365,389 | 35,839 | 38,516 | 1,219 | ||||||||||||
Actuarial losses arising from changes in demographic assumptions
|
84,757 | 313 | 7,204 | 228 | ||||||||||||
Components of defined benefit costs recognized in other comprehensive (income) loss
|
818,546 | (412,225 | ) | 28,145 | 891 | |||||||||||
Total
|
$ | 1,213,981 | $ | 13,203 | $ | 457,295 | $ | 14,472 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Operating cost
|
$ | 314,219 | $ | 337,069 | $ | 345,309 | $ | 10,928 | ||||||||
Selling and marketing expenses
|
10,555 | 10,181 | 11,448 | 362 | ||||||||||||
General and administrative expenses
|
36,502 | 43,381 | 35,867 | 1,135 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Research and development expenses
|
$ | 34,159 | $ | 34,797 | $ | 36,526 | $ | 1,156 | ||||||||
$ | 395,435 | $ | 425,428 | $ | 429,150 | $ | 13,581 |
6)
|
For the years ended December 31, 2012, 2013 and 2014, the Group recognized actuarial loss of NT$677,666 thousand, actuarial gain of NT$345,519 thousand and actuarial loss of NT$4,260 thousand (US$135 thousand) in other comprehensive income (loss), respectively. As of December 31, 2013 and 2014, the accumulated actuarial loss of NT$328,513 thousand and NT$332,947 thousand (US$10,536 thousand) were recognized in other comprehensive income (loss) and NT$3,634 thousand and NT$4,491 thousand (US$142 thousand) were recognized in non-controlling interests, respectively.
|
|
7)
|
The amounts included in the consolidated balance sheets arising from the Group's obligation in respect of its defined benefit plans excluding those for executive managers were as follows:
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Present value of funded defined benefit obligation
|
$ | 7,472,145 | $ | 7,674,293 | $ | 242,858 | ||||||
Fair value of plan assets
|
(3,118,804 | ) | (3,502,487 | ) | (110,838 | ) | ||||||
Present value of unfunded defined benefit obligation
|
4,353,341 | 4,171,806 | 132,020 | |||||||||
Recorded under others payables
|
(15,893 | ) | (1,028 | ) | (33 | ) | ||||||
Recorded under prepaid pension cost
|
- | 11,910 | 377 | |||||||||
Accrued pension liability
|
$ | 4,337,448 | $ | 4,182,688 | $ | 132,364 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | 6,664,941 | $ | 7,751,862 | $ | 7,472,145 | $ | 236,460 | ||||||||
Current service cost
|
297,861 | 347,629 | 327,707 | 10,370 | ||||||||||||
Interest cost
|
153,044 | 156,157 | 189,043 | 5,982 | ||||||||||||
Past service cost
|
- | - | 22,036 | 698 | ||||||||||||
Remeasurement loss (gain)
|
||||||||||||||||
Actuarial losses (gains) arising from changes in financial assumptions
|
360,188 | (465,360 | ) | (46,913 | ) | (1,484 | ) |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Actuarial losses arising from experience adjustments
|
$ | 365,389 | $ | 35,839 | $ | 38,516 | $ | 1,219 | ||||||||
Actuarial losses arising from changes in demographic assumptions
|
84,757 | 313 | 7,204 | 228 | ||||||||||||
Benefits paid from the pension fund
|
(96,901 | ) | (154,608 | ) | (292,996 | ) | (9,272 | ) | ||||||||
Benefits paid from the Group
|
(29,365 | ) | (99,025 | ) | (16,237 | ) | (514 | ) | ||||||||
Exchange differences on foreign plans
|
(48,052 | ) | (100,662 | ) | (26,212 | ) | (829 | ) | ||||||||
Balance at December 31
|
$ | 7,751,862 | $ | 7,472,145 | $ | 7,674,293 | $ | 242,858 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | 1,961,355 | $ | 2,682,803 | $ | 3,118,804 | $ | 98,696 | ||||||||
Interest income
|
55,470 | 78,358 | 109,636 | 3,469 | ||||||||||||
Return on plan assets (excluding amounts included in net interest expense)
|
(8,212 | ) | (16,983 | ) | (29,338 | ) | (928 | ) | ||||||||
Contributions from plan by employer
|
734,864 | 470,592 | 556,555 | 17,613 | ||||||||||||
Benefits paid
|
(96,901 | ) | (154,608 | ) | (292,996 | ) | (9,272 | ) | ||||||||
Exchange differences on foreign plans
|
36,227 | 58,642 | 39,826 | 1,260 | ||||||||||||
Balance at December 31
|
$ | 2,682,803 | $ | 3,118,804 | $ | 3,502,487 | $ | 110,838 |
8)
|
The fair value of the plan assets by major categories at each balance sheet date was as follows:
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Cash and cash equivalents
|
$ | 1,140,149 | $ | 1,854,926 | $ | 58,700 | ||||||
Debt instruments
|
1,031,863 | 691,720 | 21,890 | |||||||||
Equity instruments
|
802,066 | 869,752 | 27,524 | |||||||||
Others
|
144,726 | 86,089 | 2,724 | |||||||||
Total
|
$ | 3,118,804 | $ | 3,502,487 | $ | 110,838 |
|
9)
|
Significant actuarial assumptions for the determination of the defined obligation excluding those for executive managers are discount rates and
expected rates of salary increase
. The sensitivity analysis below has been determined based on reasonably possible changes of the respective assumptions occurring at each balance sheet date, while holding all other assumptions constant.
|
Expected Benefit Payments
|
||||||||
Fiscal Year Ending
|
NT$
|
US$ (Note 4)
|
||||||
December 31, 2015
|
$ | 249,000 | $ | 7,880 | ||||
December 31, 2016
|
267,368 | 8,461 | ||||||
December 31, 2017
|
329,118 | 10,415 | ||||||
December 31, 2018
|
376,489 | 11,914 | ||||||
December 31, 2019
|
489,095 | 15,478 | ||||||
December 31, 2020 and thereafter
|
14,468,022 | 457,849 |
22.
|
EQUITY
|
a.
|
Share capital
|
December 31,
2013
|
December 31,
2014
|
|||||||
Numbers of shares authorized (in thousands)
|
9,600,000 | 10,000,000 | ||||||
Numbers of shares reserved (in thousands)
|
||||||||
Employee share options
|
800,000 | 800,000 | ||||||
Numbers of shares registered (in thousands)
|
7,756,004 | 7,852,538 | ||||||
Numbers of shares subscribed in advance (in thousands)
|
31,823 | 9,187 | ||||||
Number of shares issued and fully paid (in thousands)
|
7,787,827 | 7,861,725 |
December 31,
2013
|
December 31,
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Shares authorized
|
$ | 96,000,000 | $ | 100,000,000 | $ | 3,164,557 | ||||||
Shares reserved
|
||||||||||||
Employee share options
|
$ | 8,000,000 | $ | 8,000,000 | $ | 253,165 | ||||||
Shares registered
|
$ | 77,560,040 | $ | 78,525,378 | $ | 2,484,980 | ||||||
Shares subscribed in advance
|
620,218 | 189,801 | 6,007 | |||||||||
Shares issued
|
$ | 78,180,258 | $ | 78,715,179 | $ | 2,490,987 |
b.
|
Capital surplus
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Arising from the excess of the consideration received over the carrying amounts of the subsidiaries’ net assets
|
$ | 2,178,384 | $ | 9,055,250 | $ | 286,559 | ||||||
Arising from issuance of ordinary shares
|
4,134,295 | 5,325,382 | 168,525 | |||||||||
Arising from employee share options
|
1,369,232 | 1,178,210 | 37,285 | |||||||||
Arising from treasury share transactions
|
236,214 | 425,004 | 13,449 | |||||||||
Arising from share of changes in capital surplus of associates
|
3,250 | 30,134 | 954 | |||||||||
$ | 7,921,375 | $ | 16,013,980 | $ | 506,772 |
c.
|
Retained earnings and dividend policy
|
|
1)
|
Replenishment of deficits;
|
|
2)
|
10.0% as legal reserve;
|
|
3)
|
Special reserve appropriated or reversed in accordance with laws or regulations set forth by the authorities concerned;
|
|
4)
|
An amount equal to the excess of the income from investments accounted for using the equity method over cash dividends as special reserve;
|
|
5)
|
Addition or deduction of realized gains or losses on equity instruments at fair value through other comprehensive income;
|
|
6)
|
Not more than 1.0% of the remainder, from 1) to 5), as compensation to directors and supervisors;
|
|
7)
|
Between 7.0% to 11.0% of the remainder, from 1) to 5), as bonus to employees, of which 7.0% shall be distributed in accordance with the employee bonus plan and the excess shall be distributed to specified employees at the board of directors’ discretion; and
|
|
8)
|
Any remainder from above as dividends to shareholders.
|
Appropriation of Earnings
|
Dividends Per Share
|
|||||||||||||||
For Year 2012
|
For Year 2013
|
For Year 2012
|
For Year 2013
|
|||||||||||||
NT$ | NT$ | NT$ | NT$ | |||||||||||||
Legal reserve
|
$ | 1,309,136 | $ | 1,568,907 | ||||||||||||
Special reserve
|
309,992 | (309,992 | ) | |||||||||||||
Cash dividends
|
7,987,974 | 10,156,005 | $ | 1.05 | $ | 1.30 | ||||||||||
$ | 9,607,102 | $ | 11,414,920 |
For Year 2012
|
For Year 2013
|
|||||||
NT$
|
NT$
|
|||||||
Bonus to employees
|
$ | 1,147,223 | $ | 1,587,300 | ||||
Remuneration to directors and supervisors
|
228,000 | 144,000 |
d.
|
Special reserve
|
e.
|
Others equity items
|
1)
|
Exchange differences on translating foreign operations
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | - | $ | (3,210,248 | ) | $ | (525,521 | ) | $ | (16,630 | ) | |||||
Exchange differences arising on translating foreign operations
|
(3,210,032 | ) | 2,685,647 | 5,064,616 | 160,272 | |||||||||||
Share of exchange difference of associates accounted for using the equity method
|
(216 | ) | (920 | ) | 1,767 | 56 | ||||||||||
Balance at December 31
|
$ | (3,210,248 | ) | $ | (525,521 | ) | $ | 4,540,862 | $ | 143,698 |
|
2)
|
Unrealized gain on available-for-sale financial assets
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | 283,460 | $ | 355,254 | $ | 426,246 | $ | 13,489 | ||||||||
Unrealized gain (loss) arising on revaluation of available-for-sale financial assets
|
16,340 | 14,985 | (142,418 | ) | (4,507 | ) |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Cumulative losses (gains) reclassified to profit or loss on disposal of available-for-sale financial assets
|
$ | (163 | ) | $ | (96 | ) | $ | 9,561 | $ | 302 | ||||||
Share of unrealized gain on available-for-sale financial assets of associates accounted for using the equity method
|
55,617 | 56,103 | 233,389 | 7,386 | ||||||||||||
Balance at December 31
|
$ | 355,254 | $ | 426,246 | $ | 526,778 | $ | 16,670 |
3)
|
Cash flow hedges
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | (48,372 | ) | $ | (3,755 | ) | $ | (3,279 | ) | $ | (104 | ) | ||||
Gain (loss) arising on changes in the fair value of hedging instruments - Interest rate swap contracts
|
877 | (2,597 | ) | 795 | 25 | |||||||||||
Cumulative gains or losses arising on changes in fair value of hedging instruments reclassified to profit or loss - Interest rate swap contracts
|
52,878 | 3,842 | 2,484 | 79 | ||||||||||||
Income tax related to cash flow hedges
|
(9,138 | ) | (769 | ) | - | - | ||||||||||
Balance at December 31
|
$ | (3,755 | ) | $ | (3,279 | ) | $ | - | $ | - |
|
f.
|
Treasury shares
|
Shares
Held By Subsidiaries
|
Carrying amount
|
Carrying amount
|
Fair Value
(Level 1)
|
Fair Value
(Level 1)
|
||||||||||||||||
(in thousand shares)
|
NT$
|
US$
(Note 4)
|
NT$
|
US$
(Note 4)
|
||||||||||||||||
December 31, 2013
|
||||||||||||||||||||
ASE Test
|
88,200 | $ | 1,380,721 | $ | 2,443,153 | |||||||||||||||
J&R Holding
|
46,704 | 381,709 | 1,293,694 | |||||||||||||||||
ASE Test, Inc.
|
10,979 | 196,677 | 304,112 | |||||||||||||||||
145,883 | $ | 1,959,107 | $ | 4,040,959 | ||||||||||||||||
December 31, 2014
|
||||||||||||||||||||
ASE Test
|
88,200 | $ | 1,380,721 | $ | 43,694 | $ | 3,360,438 | $ | 106,343 | |||||||||||
J&R Holding
|
46,704 | 381,709 | 12,079 | 1,779,413 | 56,311 | |||||||||||||||
ASE Test, Inc.
|
10,979 | 196,677 | 6,224 | 418,291 | 13,237 | |||||||||||||||
145,883 | $ | 1,959,107 | $ | 61,997 | $ | 5,558,142 | $ | 175,891 |
g.
|
Non-controlling interests
|
For the Years Ended December 31 | ||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | 1,512,947 | $ | 3,505,743 | $ | 4,128,361 | $ | 130,644 | ||||||||
Attributable to non-controlling interests:
|
||||||||||||||||
Share of profit for the year
|
456,681 | 465,656 | 640,499 | 20,269 | ||||||||||||
Exchange difference on translating foreign operations
|
(59,591 | ) | 131,621 | 340,392 | 10,772 | |||||||||||
Unrealized gains (losses) on available-for-sale financial assets
|
362 | (50 | ) | (857 | ) | (27 | ) | |||||||||
Additional non-controlling interests arising from partial disposal of subsidiaries (Note 28)
|
1,454,165 | - | - | - |
For the Years Ended December 31 | ||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Purchase of non-controlling interests (Note 28)
|
$ | (10,967 | ) | $ | - | $ | - | $ | - | |||||||
Cash capital increase of subsidiary (Note 28)
|
- | 27,826 | 3,067,712 | 97,080 | ||||||||||||
Non-controlling interest relating to outstanding vested share options held by the employees of subsidiaries
|
175,194 | 100,547 | 120,376 | 3,809 | ||||||||||||
Defined benefit plan actuarial losses
|
(249 | ) | (3,385 | ) | (857 | ) | (27 | ) | ||||||||
Cash dividends to non-controlling interests
|
(22,799 | ) | (99,597 | ) | (85,766 | ) | (2,714 | ) | ||||||||
Balance at December 31
|
$ | 3,505,743 | $ | 4,128,361 | $ | 8,209,860 | $ | 259,806 | ||||||||
(Concluded) |
23.
|
PROFIT BEFORE INCOME TAX
|
a.
|
Other income and expenses
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Rental income
|
$ | 58,552 | $ | 63,130 | $ | 59,624 | $ | 1,887 | ||||||||
Gains (losses) on disposal of property, plant and equipment and other assets
|
18,743 | 127,375 | (45,509 | ) | (1,440 | ) | ||||||||||
Impairment loss on property, plant and equipment
|
(73,541 | ) | (495,547 | ) | (297,754 | ) | (9,423 | ) | ||||||||
Loss on damages and claims
|
(121,831 | ) | (1,058,810 | ) | (102,101 | ) | (3,231 | ) | ||||||||
Others
|
201,269 | 15,606 | 614,355 | 19,442 | ||||||||||||
$ | 83,192 | $ | (1,348,246 | ) | $ | 228,615 | $ | 7,235 |
b.
|
Other income
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Interest income
|
$ | 322,197 | $ | 212,801 | $ | 243,474 | $ | 7,705 | ||||||||
Government subsidy
|
164,762 | 149,634 | 184,525 | 5,840 | ||||||||||||
Dividends income
|
66,129 | 131,449 | 101,252 | 3,204 | ||||||||||||
$ | 553,088 | $ | 493,884 | $ | 529,251 | $ | 16,749 |
c.
|
Other gains and losses
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Net gains (losses) arising on financial instruments held for trading
|
$ | (761,276 | ) | $ | 615,207 | $ | 1,266,653 | $ | 40,084 | |||||||
Net gains on financial assets designated as at FVTPL
|
43,612 | 180,152 | 572,187 | 18,107 | ||||||||||||
Foreign exchange gains or losses, net
|
965,404 | (276,201 | ) | (1,221,979 | ) | (38,670 | ) | |||||||||
Impairment loss on financial assets
|
(23,693 | ) | (196,325 | ) | (10,390 | ) | (329 | ) | ||||||||
Bargain purchase gain
|
- | 28,860 | - | - | ||||||||||||
Others
|
20,783 | 96,193 | 828 | 26 | ||||||||||||
$ | 244,830 | $ | 447,886 | $ | 607,299 | $ | 19,218 |
d.
|
Finance costs
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Total interest expense for financial liabilities measured at amortized cost
|
$ | 2,200,276 | $ | 2,433,868 | $ | 2,548,850 | $ | 80,660 | ||||||||
Less: Amounts included in the cost of qualifying assets
|
||||||||||||||||
Inventories related to real estate business
|
(46,476 | ) | (42,999 | ) | (100,705 | ) | (3,187 | ) | ||||||||
Property, plant and equipment
|
(202,363 | ) | (137,567 | ) | (126,203 | ) | (3,994 | ) | ||||||||
1,951,437 | 2,253,302 | 2,321,942 | 73,479 | |||||||||||||
Loss arising on derivatives as designated hedging instruments in cash flow hedge accounting relationship reclassified from equity to profit or loss
|
52,878 | 3,842 | 2,484 | 79 | ||||||||||||
Other finance costs
|
38,229 | 50,311 | 29,671 | 939 | ||||||||||||
$ | 2,042,544 | $ | 2,307,455 | $ | 2,354,097 | $ | 74,497 |
For the Years
Ended December 31
|
||||||
2012
|
2013
|
2014
|
||||
Annual interest capitalization rates
|
||||||
Inventories related to real estate business
|
5.23%-7.22%
|
5.90%-7.21%
|
6.00%-7.21%
|
|||
Property, plant and equipment
|
1.62%-5.88%
|
1.54%-6.15%
|
0.88%-6.15%
|
e.
|
Depreciation and amortization
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Property, plant and equipment
|
$ | 22,473,857 | $ | 24,696,607 | $ | 25,805,042 | $ | 816,615 | ||||||||
Intangible assets
|
962,022 | 774,304 | 545,734 | 17,270 | ||||||||||||
Total
|
$ | 23,435,879 | $ | 25,470,911 | $ | 26,350,776 | $ | 833,885 | ||||||||
Summary of depreciation by function
|
||||||||||||||||
Operating costs
|
$ | 20,880,124 | $ | 23,025,115 | $ | 24,050,546 | $ | 761,093 | ||||||||
Operating expenses
|
1,593,733 | 1,671,492 | 1,754,496 | 55,522 | ||||||||||||
$ | 22,473,857 | $ | 24,696,607 | $ | 25,805,042 | $ | 816,615 | |||||||||
Summary of amortization by function
|
||||||||||||||||
Operating costs
|
$ | 508,869 | $ | 397,976 | $ | 180,719 | $ | 5,719 | ||||||||
Operating expenses
|
453,153 | 376,328 | 365,015 | 11,551 | ||||||||||||
$ | 962,022 | $ | 774,304 | $ | 545,734 | $ | 17,270 |
f.
|
Employee benefits expense
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Post-employment benefits (Note 21)
|
||||||||||||||||
Defined contribution plans
|
$ | 1,095,039 | $ | 1,324,178 | $ | 1,589,505 | $ | 50,301 | ||||||||
Defined benefit plans
|
430,006 | 430,378 | 445,795 | 14,108 | ||||||||||||
1,525,045 | 1,754,556 | 2,035,300 | 64,409 | |||||||||||||
Equity-settled share-based payments
|
537,461 | 260,801 | 110,157 | 3,486 | ||||||||||||
Salary, incentives and bonus
|
30,139,149 | 34,032,023 | 40,475,594 | 1,280,873 | ||||||||||||
Other employee benefits
|
4,703,034 | 5,211,948 | 5,984,074 | 189,369 | ||||||||||||
$ | 36,904,689 | $ | 41,259,328 | $ | 48,605,125 | $ | 1,538,137 | |||||||||
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Summary of employee benefits expense by function
|
||||||||||||||||
Operating costs
|
$ | 24,802,599 | $ | 28,053,492 | $ | 33,243,224 | $ | 1,052,001 | ||||||||
Operating expenses
|
12,102,090 | 13,205,836 | 15,361,901 | 486,136 | ||||||||||||
$ | 36,904,689 | $ | 41,259,328 | $ | 48,605,125 | $ | 1,538,137 |
24.
|
INCOME TAX
|
a.
|
Income tax expense recognized in profit or loss
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Current income tax
|
||||||||||||||||
In respect of the current year
|
$ | 2,595,070 | $ | 2,594,114 | $ | 3,524,456 | $ | 111,533 | ||||||||
Income tax expense of unappropriated earnings
|
33,131 | 209,616 | 1,281,877 | 40,566 | ||||||||||||
In respect of prior years
|
6,747 | (91,633 | ) | 72,380 | 2,290 | |||||||||||
2,634,948 | 2,712,097 | 4,878,713 | 154,389 | |||||||||||||
Deferred income tax
|
||||||||||||||||
In respect of the current year
|
453,692 | 821,592 | 714,850 | 22,622 | ||||||||||||
Effect of foreign currency exchange differences
|
(134,722 | ) | (62,285 | ) | 75,305 | 2,383 | ||||||||||
Others
|
6,508 | 28,191 | (2,914 | ) | (92 | ) | ||||||||||
325,478 | 787,498 | 787,241 | 24,913 | |||||||||||||
Income tax expense recognized in profit or loss
|
$ | 2,960,426 | $ | 3,499,595 | $ | 5,665,954 | $ | 179,302 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Profit before income tax
|
$ | 16,608,724 | $ | 19,369,756 | $ | 28,535,055 | $ | 903,008 | ||||||||
Income tax expense calculated at the statutory rate
|
$ | 3,392,253 | $ | 3,684,109 | $ | 5,101,984 | $ | 161,455 | ||||||||
Nontaxable income in determining taxable income
|
(14,379 | ) | (172,322 | ) | 128,644 | 4,071 | ||||||||||
Tax-exempt income
|
(312,587 | ) | (373,113 | ) | (623,652 | ) | (19,736 | ) | ||||||||
Additional income tax on unappropriated earnings
|
33,131 | 558,042 | 1,887,845 | 59,742 |
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Loss carry-forward and income tax credits currently used
|
$ | (852,351 | ) | $ | (684,309 | ) | $ | (1,329,753 | ) | $ | (42,081 | ) | ||||
Remeasurement of deferred income tax assets, net
|
318,953 | 341,863 | 435,143 | 13,770 | ||||||||||||
Adjustments for prior years’ tax
|
6,747 | (91,633 | ) | 72,380 | 2,291 | |||||||||||
Land value increment tax
|
388,659 | 236,958 | (6,637 | ) | (210 | ) | ||||||||||
Income tax expense recognized in profit or loss
|
$ | 2,960,426 | $ | 3,499,595 | $ | 5,665,954 | $ | 179,302 |
b.
|
Income tax recognized directly in equity
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Deferred income tax
|
||||||||||||||||
Employee share options
|
$ | - | $ | - | $ | 4,481 | $ | 142 |
c.
|
Income tax expense recognized in other comprehensive income
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Deferred income tax
|
||||||||||||||||
Actuarial gains or losses on defined benefit plan
|
$ | 140,880 | $ | (66,706 | ) | $ | 23,885 | $ | 756 | |||||||
Fair value changes of hedging instruments for cash flow hedges
|
(9,138 | ) | (769 | ) | - | - | ||||||||||
$ | 131,742 | $ | (67,475 | ) | $ | 23,885 | $ | 756 |
d.
|
Current tax assets and liabilities
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Current tax assets
|
||||||||||||
Tax refund receivable
|
$ | 92,430 | $ | 23,616 | $ | 747 | ||||||
Prepaid income tax
|
58,166 | 41,696 | 1,320 | |||||||||
$ | 150,596 | $ | 65,312 | $ | 2,067 |
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Current tax liabilities
|
||||||||||||
Income tax payable
|
$ | 4,225,390 | $ | 6,630,696 | $ | 209,832 |
e.
|
Deferred tax assets and liabilities
|
Balance at January 1
|
Recognized in Profit or Loss
|
Recognized in Other Comprehensive Income
|
Additions through Business Combinations
|
Exchange Differences
|
Balance at December 31
|
|||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||
Year ended December 31, 2012
|
||||||||||||||||||||||||
Temporary differences
|
||||||||||||||||||||||||
Property, plant and equipment
|
$ | (476,385 | ) | $ | (482,679 | ) | $ | - | $ | - | $ | (18,224 | ) | $ | (977,288 | ) | ||||||||
Defined benefit obligation
|
919,981 | (1,192 | ) | 140,880 | - | (62,151 | ) | 997,518 | ||||||||||||||||
Cash flow hedges
|
9,907 | - | (9,138 | ) | - | - | 769 | |||||||||||||||||
FVTPL financial instruments
|
(60,846 | ) | 122,337 | - | - | 8 | 61,499 | |||||||||||||||||
Others
|
430,077 | 59,003 | - | 95 | (43,271 | ) | 445,904 | |||||||||||||||||
822,734 | (302,531 | ) | 131,742 | 95 | (123,638 | ) | 528,402 | |||||||||||||||||
Loss carry-forward
|
203,114 | 179,909 | - | - | (2,329 | ) | 380,694 | |||||||||||||||||
Investment credits
|
1,234,295 | (198,961 | ) | - | 2,518 | (8,755 | ) | 1,029,097 | ||||||||||||||||
Others
|
- | (3,895 | ) | - | 3,895 | - | - | |||||||||||||||||
$ | 2,260,143 | $ | (325,478 | ) | $ | 131,742 | $ | 6,508 | $ | (134,722 | ) | $ | 1,938,193 |
Balance at January 1
|
Recognized in Profit or Loss
|
Recognized in Other Comprehensive Income
|
Exchange Differences
|
Balance at December 31
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
Year ended December 31, 2013
|
||||||||||||||||||||
Temporary differences
|
||||||||||||||||||||
Property, plant and equipment
|
$ | (977,288 | ) | $ | (730,743 | ) | $ | - | $ | 23,415 | $ | (1,684,616 | ) | |||||||
Defined benefit obligation
|
997,518 | (16,526 | ) | (66,706 | ) | (59,746 | ) | 854,540 | ||||||||||||
Cash flow hedges
|
769 | - | (769 | ) | - | - | ||||||||||||||
FVTPL financial instruments
|
61,499 | (73,832 | ) | - | 4 | (12,329 | ) | |||||||||||||
Others
|
445,904 | 336,473 | - | (14,633 | ) | 767,744 | ||||||||||||||
528,402 | (484,628 | ) | (67,475 | ) | (50,960 | ) | (74,661 | ) | ||||||||||||
Loss carry-forward
|
380,694 | (117,007 | ) | - | 6,344 | 270,031 | ||||||||||||||
Investment credits
|
1,029,097 | (185,863 | ) | - | (17,669 | ) | 825,565 | |||||||||||||
$ | 1,938,193 | $ | (787,498 | ) | $ | (67,475 | ) | $ | (62,285 | ) | $ | 1,020,935 |
Balance at January 1
|
Recognized in Profit or Loss
|
Recognized in Other Comprehensive Income
|
Recognized in Equity
|
Exchange Differences
|
Balance at December 31
|
|||||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||||||||
Year ended December 31, 2014
|
||||||||||||||||||||||||
Temporary differences
|
||||||||||||||||||||||||
Property, plant and equipment
|
$ | (1,684,616 | ) | $ | (804,082 | ) | $ | - | $ | - | $ | 56,843 | $ | (2,431,855 | ) | |||||||||
Defined benefit obligation
|
854,540 | (59,807 | ) | 23,885 | - | (21,976 | ) | 796,642 | ||||||||||||||||
FVTPL financial instruments
|
(12,329 | ) | (170,722 | ) | - | - | 12,992 | (170,059 | ) | |||||||||||||||
Others
|
767,744 | 372,563 | - | 4,481 | 21,509 | 1,166,297 | ||||||||||||||||||
(74,661 | ) | (662,048 | ) | 23,885 | 4,481 | 69,368 | (638,975 | ) | ||||||||||||||||
Loss carry-forward
|
270,031 | 246,334 | - | - | 3,533 | 519,898 | ||||||||||||||||||
Investment credits
|
825,565 | (370,674 | ) | - | - | (2,560 | ) | 452,331 | ||||||||||||||||
Others
|
- | (853 | ) | - | - | - | (853 | ) | ||||||||||||||||
$ | 1,020,935 | $ | (787,241 | ) | $ | 23,885 | $ | 4,481 | $ | 70,341 | $ | 332,401 |
Balance at January 1
|
Recognized in Profit or Loss
|
Recognized in Other Comprehensive Income
|
Recognized in Equity
|
Exchange Differences
|
Balance at December 31
|
|||||||||||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
|||||||||||||||||||
Year ended December 31, 2014
|
||||||||||||||||||||||||
Temporary differences
|
||||||||||||||||||||||||
Property, plant and equipment
|
$ | (53,311 | ) | $ | (25,446 | ) | $ | - | $ | - | $ | 1,799 | $ | (76,958 | ) | |||||||||
Defined benefit obligation
|
27,042 | (1,893 | ) | 756 | - | (695 | ) | 25,210 | ||||||||||||||||
FVTPL financial instruments
|
(390 | ) | (5,403 | ) | - | - | 411 | (5,382 | ) | |||||||||||||||
Others
|
24,296 | 11,790 | - | 142 | 681 | 36,909 | ||||||||||||||||||
(2,363 | ) | (20,952 | ) | 756 | 142 | 2,196 | (20,221 | ) | ||||||||||||||||
Loss carry-forward
|
8,545 | 7,795 | - | - | 112 | 16,452 | ||||||||||||||||||
Investment credits
|
26,125 | (11,730 | ) | - | - | (81 | ) | 14,314 | ||||||||||||||||
Other
|
- | (26 | ) | - | - | - | (26 | ) | ||||||||||||||||
$ | 32,307 | $ | (24,913 | ) | $ | 756 | $ | 142 | $ | 2,227 | $ | 10,519 |
f.
|
Items for which no deferred tax assets have been recognized
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Loss carry-forward
|
$ | 669,410 | $ | 694,960 | $ | 21,992 | ||||||
Investment credits
|
91,536 | 629,231 | 19,913 | |||||||||
Deductible temporary differences
|
901,580 | 957,183 | 30,291 | |||||||||
$ | 1,662,526 | $ | 2,281,374 | $ | 72,196 |
g.
|
Information about unused loss carry-forward, unused investment credits, tax-exemption and other tax relief
|
Year of Expiry
|
NT$
|
US$
|
||||||
(Note 4)
|
||||||||
2015
|
$ | 70,223 | $ | 2,222 | ||||
2016
|
167,001 | 5,285 | ||||||
2017
|
352,030 | 11,140 | ||||||
2018
|
277,680 | 8,787 | ||||||
2019 and thereafter
|
347,924 | 11,010 | ||||||
$ | 1,214,858 | $ | 38,444 |
Remaining Creditable Amount
|
|||||||||||||
Laws and Statutes
|
Tax Credit Source
|
NT$
|
US$
|
Expiry Year
|
|||||||||
(Note 4)
|
|||||||||||||
Statute for Upgrading Industries
|
Purchase of machinery and equipment
|
$ | 1,025,895 | $ | 32,465 |
2015 and
thereafter
2017
|
|||||||
Others
|
55,667 | 1,762 | |||||||||||
$ | 1,081,562 | $ | 34,227 |
Tax-exemption Period
|
||
Construction and expansion of 2004 by the Company
|
2012.01-2016.12
|
|
Construction and expansion of 2005 by the Company
|
2012.01-2016.12
|
|
Construction and expansion of 2007 by the Company
|
2013.01-2015.12
|
|
Construction and expansion of 2008 by the Company.
|
2014.01-2018.12
|
|
Construction and expansion of 2005 by ASE Test Inc.
|
2011.01-2015.12
|
|
Construction and expansion of 2008 by ASE Test Inc.
|
2014.01-2018.12
|
|
Construction and expansion of 2005 by ASE Electronics Inc.
|
2012.01-2016.12
|
h.
|
Unrecognized deferred tax liabilities associated with investments
|
i.
|
Integrated income tax
|
|
j.
|
Income tax returns of ASE Inc. and its subsidiaries in Taiwan have been examined by authorities through 2012 and through 2010 to 2012, respectively. ASE Inc. and some of its subsidiaries in Taiwan disagreed with the result of examinations relating to its income tax returns for 2004 through 2008 and 2010 through 2012 and applied for appeal procedures. The related income tax expenses in the years resulting from the examinations have been accrued in respective tax years.
|
25.
|
EARNINGS PER SHARE
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Profit for the year attributable to owners of the Company
|
$ | 13,191,617 | $ | 15,404,505 | $ | 22,228,602 | $ | 703,437 | ||||||||
Effect of potentially dilutive ordinary shares:
|
||||||||||||||||
Employee share options issued by subsidiaries
|
(102,587 | ) | (131,756 | ) | (260,925 | ) | (8,257 | ) | ||||||||
Convertible bonds
|
- | 156,193 | 931,344 | 29,473 | ||||||||||||
Earnings used in the computation of diluted earnings per share
|
$ | 13,089,030 | $ | 15,428,942 | $ | 22,899,021 | $ | 724,653 |
For the Years Ended December 31
|
||||||||||||
2012
|
2013
|
2014
|
||||||||||
Weighted average number of ordinary shares in computation of basic earnings per share
|
7,445,469 | 7,508,539 | 7,687,930 | |||||||||
Effect of potentially dilutive ordinary shares:
|
||||||||||||
Convertible bonds
|
- | 117,085 | 375,271 | |||||||||
Employee share options
|
70,057 | 67,081 | 101,850 | |||||||||
Bonus to employees
|
52,695 | 54,926 | 55,643 | |||||||||
Weighted average number of ordinary shares in computation of diluted earnings per share
|
7,568,221 | 7,747,631 | 8,220,694 |
26.
|
SHARE-BASED PAYMENT ARRANGEMENTS
|
a.
|
Employee share option plans of the Company and its subsidiaries
|
For the Years Ended December 31
|
||||||||||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||||||||||
Number of
Options
(In
Thousands)
|
Weighted
Average
Exercise
Price
Per Share
(NT$)
|
Number of
Options
(In
Thousands)
|
Weighted
Average
Exercise
Price
Per Share
(NT$)
|
Number of
Options
(In
Thousands)
|
Weighted
Average
Exercise
Price
Per Share
(NT$)
|
|||||||||||||||||||
Balance at January 1
|
371,034 | $ | 22.8 | 344,332 | $ | 20.3 | 285,480 | $ | 20.5 | |||||||||||||||
Options forfeited
|
(6,233 | ) | 22.6 | (3,307 | ) | 20.7 | (1,515 | ) | 20.5 | |||||||||||||||
Options expired
|
(9 | ) | 5.5 | (10 | ) | 7.4 | (322 | ) | 13.5 | |||||||||||||||
Options exercised
|
(20,460 | ) | 15.4 | (55,535 | ) | 19.3 | (73,898 | ) | 19.7 | |||||||||||||||
Balance at December 31
|
344,332 | 20.3 | 285,480 | 20.5 | 209,745 | 20.7 | ||||||||||||||||||
Options exercisable, end of year
|
243,930 | 20.1 | 228,685 | 20.4 | 189,240 | 20.7 |
Range of Exercise Price Per Share (NT$)
|
Weighted Average Remaining
Contractual Life (Years)
|
|||||||
December 31, 2013
|
$ | 11.1-13.5 | 0.6 | |||||
20.4-22.6 | 5.4 | |||||||
December 31, 2014
|
11.1-13.5
20.4-22.6
|
0.4
4.4
|
For the Years Ended December 31
|
||||||||||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||||||||||
Number of
|
Exercise
|
Number of
|
Exercise
|
Number of
|
Exercise
|
|||||||||||||||||||
Options
|
Price
|
Options
|
Price
|
Options
|
Price
|
|||||||||||||||||||
(In
|
Per Share
|
(In
|
Per Share
|
(In
|
Per Share
|
|||||||||||||||||||
Thousands)
|
(US$)
|
Thousands)
|
(US$)
|
Thousands)
|
(US$)
|
|||||||||||||||||||
Balance at January 1
|
28,770 | $ | 1.7 | 28, 595 | $ | 1.7 | 28,545 | $ | 1.7 | |||||||||||||||
Options forfeited
|
(175 | ) | 1.7 | (50 | ) | 1.7 | - | - | ||||||||||||||||
Balance at December 31
|
28,595 | 1.7 | 28 ,545 | 1.7 | 28,545 | 1.7 | ||||||||||||||||||
Options exercisable, end of year
|
28,575 | 1.7 | 28, 545 | 1.7 | 28,545 | 1.7 |
For the Years Ended December 31
|
||||||||||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||
Number of
|
Exercise
|
Number of
|
Exercise
|
Number of
|
Exercise
|
|||||||||||||||||||
Options
|
Price
|
Options
|
Price
|
Options
|
Price
|
|||||||||||||||||||
(In
|
Per Share
|
(In
|
Per Share
|
(In
|
Per Share
|
|||||||||||||||||||
Thousands)
|
(US$)
|
Thousands)
|
(US$)
|
Thousands)
|
(US$)
|
|||||||||||||||||||
Balance at January 1
|
35,462 | $ | 2.1 | 34,966 | $ | 2.1 | 34,939 | $ | 2.1 | |||||||||||||||
Options forfeited
|
(283 | ) | 2.1 | (27 | ) | 2.9 | - | - | ||||||||||||||||
Options exercised
|
(213 | ) | 1.5 | - | - | (780 | ) | 1.5 | ||||||||||||||||
Balance at December 31
|
34,966 | 2.1 | 34 ,939 | 2.1 | 34,159 | 2.1 | ||||||||||||||||||
Options exercisable, end of year
|
22,252 | 1.7 | 28, 281 | 2.0 | 30,874 | 2.0 |
Range of Exercise Price Per Share
(US$)
|
Weighted Average Remaining
Contractual Life (Years)
|
|||||||
December 31, 2013
|
$ | 1.5 | 4.0 | |||||
2.4-2.9 | 6.8 | |||||||
December 31, 2014
|
1.5 | 5.0 | ||||||
2.4-2.9 | 5.8 |
b.
|
Fair value of share options
|
ASE Inc.
|
ASE Mauritius Inc.
|
USIE
|
||||
Share price/market price at the grant date
|
NT$28.60-30.65
|
US$1.7
|
US$1.53-2.62
|
|||
Exercise prices
|
NT$28.60-30.65
|
US$1.7
|
US$1.53-2.94
|
|||
Expected volatility
|
28.59%-40.82%
|
47.21%
|
32.48%-42.58%
|
|||
Expected lives
|
10 years
|
10 years
|
10-12 years
|
|||
Expected dividend yield
|
3.00%-4.00%
|
-
|
-
|
|||
Risk free interest rates
|
1.56%-2.51%
|
3.87%-3.90%
|
1.63%-4.02%
|
c.
|
New shares issued under cash capital increase reserved for subscription by employees
|
Number of Options
(In Thousand)
|
Fair Value (NT$)
|
|||||||
Balance at January 1, 2013
|
- | $ | - | |||||
Options granted
|
14,437 | 1.85 | ||||||
Options exercised
|
(12,477 | ) | 1.85 | |||||
Options forfeited
|
(1,960 | ) | - | |||||
Balance at December 31, 2013
|
- | - | ||||||
Share price at the grant date
|
NT$27.95 per share
|
|
Exercise price
|
NT$26.10 per share
|
|
Expected volatility
|
17.98%
|
|
Expected lives
|
3 days
|
|
Expected dividend yield
|
-
|
|
Risk free interest rate
|
0.57%
|
27.
|
BUSINESS COMBINATIONS
|
a.
|
Subsidiaries acquired
|
Principal Activity
|
Date of Acquisition
|
Proportion of Voting Equity Interests Acquired
|
Cash Consideration
|
|||||||
NT$
|
||||||||||
Yang Ting Tech Co., Ltd. (
“Yang Ting
”
)
|
Packaging and testing of semiconductors
|
January 13, 2012
|
100% | $ | 300,016 | |||||
Wuxi Tongzhi
|
Packaging and testing of semiconductors
|
May 27, 2013
|
100% | $ | 338,021 |
b.
|
Consideration transferred, fair value of assets acquired and liabilities assumed as well as net cash outflow on acquisition of subsidiaries at the acquisition date were as follows:
|
1)
|
Yang Ting
|
NT$
|
||||
Current assets
|
$ | 171,015 | ||
Non-current assets
|
||||
Property, plant and equipment
|
265,902 | |||
Other non-current assets
|
4,574 | |||
Current liabilities
|
(96,929 | ) | ||
Non-current liabilities
|
||||
Long-term borrowings
|
(44,800 | ) | ||
Other non-current liabilities
|
(1,200 | ) | ||
298,562 |
NT$
|
||||
Goodwill
|
$ | 1,454 | ||
Total consideration
|
300,016 | |||
Less: Cash and cash equivalent acquired
|
(38,409 | ) | ||
Net cash outflow on acquisition of Yang Ting
|
$ | 261,607 |
2)
|
Wuxi Tongzhi
|
NT$
|
||||
Current assets
|
$ | 158,100 | ||
Non-current assets
|
||||
Property, plant and equipment
|
258,420 | |||
Other non-current assets
|
35,656 | |||
Current liabilities
|
(85,295 | ) | ||
366,881 | ||||
Bargain purchase gain - recognized in other gains and losses
|
(28,860 | ) | ||
Total consideration
|
338,021 | |||
Less: Cash and cash equivalent acquired
|
(87,634 | ) | ||
Net cash outflow on acquisition of Wuxi Tongzhi
|
$ | 250,387 |
b.
|
Impact of acquisitions on the operating results of the Group
|
c.
|
Pro-forma information
|
28.
|
EQUITY TRANSACTIONS WITH NON-CONTROLLING INTERESTS
|
29.
|
NON-CASH TRANSACTIONS
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Payments for property, plant and equipment
|
||||||||||||||||
Purchase of property, plant and equipment
|
$ | 38,976,825 | $ | 27,044,072 | $ | 43,448,587 | $ | 1,374,956 | ||||||||
Increase (decrease) in prepayments for property, plant and equipment
|
(153,122 | ) | 327,810 | (34,894 | ) | (1,104 | ) | |||||||||
Decrease (increase) in payables for property, plant and equipment
|
408,156 | 1,908,404 | (3,688,526 | ) | (116,726 | ) | ||||||||||
Capitalized borrowing costs
|
(202,363 | ) | (137,567 | ) | (126,203 | ) | (3,994 | ) | ||||||||
$ | 39,029,496 | $ | 29,142,719 | $ | 39,598,964 | $ | 1,253,132 | |||||||||
Proceeds from disposal of property, plant and equipment
|
||||||||||||||||
Consideration from disposal of property, plant and equipment
|
$ | 442,675 | $ | 350,873 | $ | 462,438 | $ | 14,634 | ||||||||
Decrease in other receivables
|
42,125 | 673 | (41,231 | ) | (1,305 | ) | ||||||||||
$ | 484,800 | $ | 351,546 | $ | 421,207 | $ | 13,329 |
30.
|
OPERATING LEASE ARRANGEMENTS
|
31.
|
CAPITAL MANAGEMENT
|
32.
|
FINANCIAL INSTRUMENTS
|
|
a.
|
Fair value of financial instruments
|
|
1)
|
Fair value measurements recognized in the consolidated balance sheets
|
|
a)
|
Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;
|
|
b)
|
Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices); and
|
|
c)
|
Level 3 fair value measurements are those derived from valuation techniques that include inputs for those assets or liabilities that are not based on observable market data (unobservable inputs).
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||
December 31, 2013
|
||||||||||||||||
Financial assets at FVTPL
|
||||||||||||||||
Financial assets designated as at FVTPL
|
||||||||||||||||
Structured time deposits
|
$ | - | $ | 2,228,643 | $ | - | $ | 2,228,643 | ||||||||
Private-placement convertible bonds
|
- | 100,500 | - | 100,500 | ||||||||||||
Derivative financial assets
|
||||||||||||||||
Swap contracts
|
- | 219,324 | - | 219,324 | ||||||||||||
Forward exchange contracts
|
- | 10,178 | - | 10,178 | ||||||||||||
Non-derivative financial assets held for trading
|
||||||||||||||||
Open-end mutual funds
|
172,000 | - | - | 172,000 | ||||||||||||
Quoted shares
|
33,624 | - | - | 33,624 | ||||||||||||
$ | 205,624 | $ | 2,558,645 | $ | - | $ | 2,764,269 | |||||||||
Available-for-sale financial assets
|
||||||||||||||||
Open-end mutual funds
|
$ | 2,321,826 | $ | - | $ | - | $ | 2,321,826 | ||||||||
Limited partnership
|
- | - | 583,441 | 583,441 | ||||||||||||
Quoted shares
|
328,656 | - | - | 328,656 | ||||||||||||
Unquoted shares
|
- | - | 213,721 | 213,721 | ||||||||||||
Private-placement shares
|
- | 69,655 | - | 69,655 | ||||||||||||
$ | 2,650,482 | $ | 69,655 | $ | 797,162 | $ | 3,517,299 | |||||||||
Financial liabilities at FVTPL
|
||||||||||||||||
Derivative financial liabilities
|
||||||||||||||||
Conversion option, redemption option and put option of convertible bonds
|
$ | - | $ | 1,742,996 | $ | - | $ | 1,742,996 | ||||||||
Swap contracts
|
- | 74,170 | - | 74,170 | ||||||||||||
Forward exchange contracts
|
- | 31,315 | - | 31,315 | ||||||||||||
Cross currency swap contracts
|
- | 4,180 | - | 4,180 | ||||||||||||
Foreign currency option contracts
|
- | 643 | - | 643 | ||||||||||||
$ | - | $ | 1,853,304 | $ | - | $ | 1,853,304 |
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
|||||||||||||
Derivative financial liabilities for hedging
|
||||||||||||||||
Interest rate swap contracts
|
$ | - | $ | 3,310 | $ | - | $ | 3,310 |
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||||||||||||||||||
NT$
|
US$ (Note 4)
|
NT$
|
US$ (Note 4)
|
NT$
|
US$ (Note 4)
|
NT$
|
US$ (Note 4)
|
|||||||||||||||||||||||||
December 31, 2014
|
||||||||||||||||||||||||||||||||
Financial assets at FVTPL
|
||||||||||||||||||||||||||||||||
Financial assets designated as at FVTPL
|
||||||||||||||||||||||||||||||||
Structured time deposits
|
$ | - | $ | - | $ | 2,376,050 | $ | 75,192 | $ | - | $ | - | $ | 2,376,050 | $ | 75,192 | ||||||||||||||||
Private-placement convertible bonds
|
- | - | 100,500 | 3,180 | - | - | 100,500 | 3,180 | ||||||||||||||||||||||||
Derivative financial assets
|
||||||||||||||||||||||||||||||||
Swap contracts
|
- | - | 1,907,705 | 60,370 | - | - | 1,907,705 | 60,370 | ||||||||||||||||||||||||
Forward exchange contracts
|
- | - | 27,811 | 880 | - | - | 27,811 | 880 | ||||||||||||||||||||||||
Non-derivative financial assets held for trading
|
||||||||||||||||||||||||||||||||
Open-end mutual funds
|
533,425 | 16,881 | - | - | - | - | 533,425 | 16,881 | ||||||||||||||||||||||||
Quoted shares
|
43,352 | 1,372 | - | - | - | - | 43,352 | 1,372 | ||||||||||||||||||||||||
$ | 576,777 | $ | 18,253 | $ | 4,412,066 | $ | 139,622 | $ | - | $ | - | $ | 4,988,843 | $ | 157,875 | |||||||||||||||||
Available-for-sale financial assets
|
||||||||||||||||||||||||||||||||
Open-end mutual funds
|
$ | 1,500,434 | $ | 47,482 | $ | - | $ | - | $ | - | $ | - | $ | 1,500,434 | $ | 47,482 | ||||||||||||||||
Limited partnership
|
- | - | - | - | 555,361 | 17,575 | 555,361 | 17,575 | ||||||||||||||||||||||||
Unquoted shares
|
- | - | - | - | 223,505 | 7,073 | 223,505 | 7,073 | ||||||||||||||||||||||||
Quoted shares
|
195,070 | 6,173 | - | - | - | - | 195,070 | 6,173 | ||||||||||||||||||||||||
$ | 1,695,504 | $ | 53,655 | $ | - | $ | - | $ | 778,866 | $ | 24,648 | $ | 2,474,370 | $ | 78,303 | |||||||||||||||||
Financial liabilities at FVTPL
|
||||||||||||||||||||||||||||||||
Derivative financial liabilities
|
||||||||||||||||||||||||||||||||
Conversion option, redemption option and put option of convertible bonds
|
$ | - | $ | - | $ | 2,520,606 | $ | 79,766 | $ | - | $ | - | $ | 2,520,606 | $ | 79,766 | ||||||||||||||||
Swap contracts
|
- | - | 99,165 | 3,138 | - | - | 99,165 | 3,138 | ||||||||||||||||||||||||
Forward exchange contracts
|
- | - | 31,581 | 999 | - | - | 31,581 | 999 | ||||||||||||||||||||||||
$ | - | $ | - | $ | 2,651,352 | $ | 83,903 | $ | - | $ | - | $ | 2,651,352 | $ | 83,903 |
|
2)
|
Fair value of financial instruments not measured at fair value but for which fair value is disclosed
|
Carrying Amount
|
Fair Value (Level 3)
|
|||||||||||||||
NT$
|
US$ (Note 4)
|
NT$
|
US$ (Note 4)
|
|||||||||||||
December 31, 2013
|
$ | 21,314,005 | $ | 21,913,590 | ||||||||||||
December 31, 2014
|
31,270,131 | $ | 989,561 | 31,702,988 | $ | 1,003,259 |
|
3)
|
Reconciliation of Level 3 fair value measurements of financial assets
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Balance at January 1
|
$ | 893,283 | $ | 776,683 | $ | 797,162 | $ | 25,227 | ||||||||
Purchases
|
52,791 | 73,358 | 38,793 | 1,228 | ||||||||||||
Disposals
|
(101,938 | ) | (27,368 | ) | (21,012 | ) | (665 | ) | ||||||||
Total gains or losses
|
||||||||||||||||
In profit or loss
|
2,013 | (106,916 | ) | (10,390 | ) | (329 | ) | |||||||||
In other comprehensive income
|
(69,466 | ) | 81,405 | (25,687 | ) | (813 | ) | |||||||||
Balance at December 31
|
$ | 776,683 | $ | 797,162 | $ | 778,866 | $ | 24,648 |
|
4)
|
Valuation techniques and assumptions applied for the purpose of measuring fair value
|
|
a)
|
The fair values of financial assets and financial liabilities with standard terms and conditions and traded in active markets were determined with reference to quoted market prices (includes quoted shares and open-end mutual funds). The fair value of private-placement shares was derived using quoted market prices and adjusted for the liquidity discount due to the selling restrictions relating to the lock-up period. The liquidity discount was the option value using the Black-Scholes Model with all observable inputs.
|
|
b)
|
The fair values of derivative instruments were calculated using quoted prices. Where such prices were not available, a discounted cash flow analysis was performed using the applicable yield curve for the duration of the instruments for non-optional derivatives, and option pricing models for optional derivatives. These models use market-based observable inputs including interest rate curves, foreign exchange rates, and forward and spot prices for currencies to project fair value. The estimates and assumptions used by the Group were consistent with those that market participants would use in pricing financial instruments.
|
|
c)
|
The fair value of the Group’s investments in unquoted shares on Level 3 fair value measurement were measured using market approach based on investees’ recent financing activities, technical development, valuation of investees comparable companies, market conditions and other economic indicators.
|
|
d)
|
Except the aforementioned, the fair values of other financial assets and financial liabilities were measured using the generally accepted pricing models based on a discounted cash flow analysis.
|
b.
|
Categories of financial instruments
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Financial assets
|
||||||||||||
FVTPL
|
||||||||||||
Designated as at FVTPL
|
$ | 2,329,143 | $ | 2,476,550 | $ | 78,372 | ||||||
Held for trading
|
435,126 | 2,512,293 | 79,503 | |||||||||
Available-for-sale financial assets
|
3,517,299 | 2,474,370 | 78,303 | |||||||||
Loans and receivables (Note 1)
|
89,317,657 | 106,158,279 | 3,359,439 | |||||||||
Financial liabilities
|
||||||||||||
FVTPL
|
||||||||||||
Held for trading
|
1,853,304 | 2,651,352 | 83,903 | |||||||||
Derivative instruments in designated hedge accounting relationships
|
3,310 | - | - | |||||||||
Measured at amortized cost (Note 2)
|
145,430,744 | 157,157,392 | 4,973,335 |
Note 1:
|
The balances included loans and receivables measured at amortized cost which comprise cash and cash equivalents, trade and other receivables and other financial assets.
|
Note 2:
|
The balances included financial liabilities measured at amortized cost which comprise short-term and long-term borrowings, trade and other payables, bonds payable and long-term payables.
|
c.
|
Financial risk management objectives and policies
|
|
1)
|
Market risk
|
|
a)
|
Foreign currency exchange rate risk
|
|
b)
|
Interest rate risk
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Fair value interest rate risk
|
||||||||||||
Financial liabilities
|
$ | 22,186,535 | $ | 34,003,038 | $ | 1,076,046 | ||||||
Cash flow interest rate risk
|
||||||||||||
Financial assets
|
46,206,830 | 51,603,455 | 1,633,021 | |||||||||
Financial liabilities
|
78,502,073 | 65,149,698 | 2,061,699 |
|
c)
|
Other price risk
|
|
2)
|
Credit risk
|
|
3)
|
Liquidity risk
|
On Demand or Less than
1 Month
|
1 to 3 Months
|
3 Months to
1 Year
|
2 to 5 Years
|
More than
5 Years
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
December 31, 2013
|
||||||||||||||||||||
Non-derivative financial liabilities
|
||||||||||||||||||||
Non-interest bearing
|
$ | 16,755,995 | $ | 18,506,103 | $ | 2,193,722 | $ | 979,923 | $ | - | ||||||||||
Floating interest rate liabilities
|
22,940,649 | 11,905,684 | 21,552,430 | 23,383,218 | - | |||||||||||||||
Fixed interest rate liabilities
|
4,051 | 169,271 | 1,105,439 | 23,523,781 | - | |||||||||||||||
$ | 39,700,695 | $ | 30,581,058 | $ | 24,851,591 | $ | 47,886,922 | $ | - | |||||||||||
December 31, 2014
|
||||||||||||||||||||
Non-derivative financial liabilities
|
||||||||||||||||||||
Non-interest bearing
|
$ | 23,660,711 | $ | 21,370,876 | $ | 4,606,064 | $ | 155,599 | $ | 29,139 | ||||||||||
Floatng interest rate liabilities
|
21,534,220 | 9,003,403 | 12,364,453 | 23,870,629 | 175,302 | |||||||||||||||
Fixed interest rate liabilities
|
684,039 | 838,234 | 846,899 | 34,458,859 | - | |||||||||||||||
$ | 45,878,970 | $ | 31,212,513 | $ | 17,817,416 | $ | 58,485,087 | $ | 204,441 |
On Demand or Less than
1 Month
|
1 to 3 Months
|
3 Months to
1 Year
|
2 to 5 Years
|
More than
5 Years
|
||||||||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
||||||||||||||||
December 31, 2014
|
||||||||||||||||||||
Non-derivative financial liabilities
|
||||||||||||||||||||
Non-interest bearing
|
$ | 748,757 | $ | 676,294 | $ | 145,762 | $ | 4,924 | $ | 922 | ||||||||||
Floating interest rate liabilities
|
681,463 | 284,918 | 391,280 | 755,400 | 5,548 | |||||||||||||||
Fixed interest rate liabilities
|
21,647 | 26,526 | 26,801 | 1,090,470 | - | |||||||||||||||
$ | 1,451,867 | $ | 987,738 | $ | 563,843 | $ | 1,850,794 | $ | 6,470 |
On Demand or Less than
1 Month
|
1 to 3 Months
|
3 Months to
1 Year
|
||||||||||
NT$
|
NT$
|
NT$
|
||||||||||
December 31, 2013
|
||||||||||||
Net settled
|
||||||||||||
Forward exchange contracts
|
$ | 3,520 | $ | (2,670 | ) | $ | - | |||||
Foreign currency option contracts
|
- | 2,910 | - | |||||||||
$ | 3,520 | $ | 240 | $ | - | |||||||
Gross settled
|
||||||||||||
Forward exchange contracts
|
||||||||||||
Inflows
|
$ | 2,703,738 | $ | 1,540,707 | $ | 208,348 | ||||||
Outflows
|
(2,725,667 | ) | (1,541,515 | ) | (208,635 | ) | ||||||
(21,929 | ) | (808 | ) | (287 | ) |
Swap contracts
|
||||||||||||
Inflows
|
$ | 6,565,374 | $ | 6,384,442 | $ | 23,843,432 | ||||||
Outflows
|
(6,524,921 | ) | (6,368,366 | ) | (23,596,540 | ) | ||||||
40,453 | 16,076 | 246,892 | ||||||||||
Cross currency swap contracts
|
||||||||||||
Inflows
|
175 | 356 | 596,801 | |||||||||
Outflows
|
- | - | (598,600 | ) | ||||||||
175 | 356 | (1,799 | ) | |||||||||
Interest rate swap contracts
|
||||||||||||
Inflows
|
3,744 | - | 3,089 | |||||||||
Outflows
|
(5,995 | ) | - | (5,865 | ) | |||||||
(2,251 | ) | - | (2,776 | ) | ||||||||
$ | 16,448 | $ | 15,624 | $ | 242,030 | |||||||
December 31, 2014
|
||||||||||||
Gross settled
|
||||||||||||
Forward exchange contracts
|
||||||||||||
Inflows
|
$ | 3,662,813 | $ | 1,959,573 | $ | 9,241 | ||||||
Outflows
|
(3,655,279 | ) | (1,940,145 | ) | (9,331 | ) | ||||||
7,534 | 19,428 | (90 | ) | |||||||||
Swap contracts
|
||||||||||||
Inflows
|
10,342,259 | 4,621,200 | 33,399,031 | |||||||||
Outflows
|
(10,215,834 | ) | (4,461,118 | ) | (31,646,310 | ) | ||||||
126,425 | 160,082 | 1,752,721 | ||||||||||
$ | 133,959 | $ | 179,510 | $ | 1,752,631 |
On Demand or Less than
1 Month
|
1 to 3 Months
|
3 Months to
1 Year
|
||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
||||||||||
December 31, 2014
|
||||||||||||
Gross settled
|
||||||||||||
Forward exchange contracts
|
||||||||||||
Inflows
|
$ | 115,912 | $ | 62,012 | $ | 292 | ||||||
Outflows
|
(115,673 | ) | (61,397 | ) | (295 | ) | ||||||
239 | 615 | (3 | ) | |||||||||
Swap contracts
|
||||||||||||
Inflows
|
327,287 | 146,241 | 1,056,931 | |||||||||
Outflows
|
(323,286 | ) | (141,175 | ) | (1,001,466 | ) | ||||||
4,001 | 5,066 | 55,465 | ||||||||||
$ | 4,240 | $ | 5,681 | $ | 55,462 |
33.
|
RELATED PARTY TRANSACTIONS
|
a.
|
The Company and its subsidiary, ASE Test, Inc., acquired real estate from HC in May 2012 at NT$1,429,679 thousand and the Company acquired real estate from HC in December 2013 at NT$1,473,905 thousand, which were all primarily based on independent professional appraisal reports and fully paid before December 31, 2012 and 2013.
|
b.
|
In addition to the donation of NT$15,000 thousand (US$475 thousand) to Social Affairs Bureau of Kaohsiung City Government through ASE Cultural and Educational Foundation (the “ASE Foundation”) in August 2014, the Company contributed NT$100,000 thousand (US$3,165 thousand) to ASE Foundation in September 2014 for environmental charity in promoting the related domestic environmental protection and public service
activities.
|
c.
|
Remuneration to key management personnel
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Short-term employee benefits
|
$ | 797,632 | $ | 741,232 | $ | 989,720 | $ | 31,320 | ||||||||
Post-employment benefits
|
5,146 | 4,766 | 4,049 | 128 | ||||||||||||
Share-based payments
|
114,738 | 78,701 | 50,327 | 1,593 | ||||||||||||
$ | 917,516 | $ | 824,699 | $ | 1,044,096 | $ | 33,041 |
34.
|
ASSETS PLEDGED AS COLLATERAL OR FOR SECURITY
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Inventories related to real estate business
|
$ | 12,239,500 | $ | 15,164,858 | $ | 479,901 |
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Property, plant and equipment
|
||||||||||||
Land
|
$ | 299,059 | $ | - | $ | - | ||||||
Buildings and improvements
|
337,222 | - | - | |||||||||
Other financial assets (including current and non-current)
|
250,656 | 268,562 | 8,499 | |||||||||
$ | 13,126,437 | $ | 15,433,420 | $ | 488,400 |
35.
|
SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS
|
|
a.
|
Significant commitments
|
|
1)
|
As of December 31, 2013 and 2014, unused letters of credit of the Group were approximately NT$271,000 thousand and NT$137,000 thousand (US$4,335 thousand), respectively.
|
|
2)
|
As of December 31, 2013 and 2014, outstanding commitments to purchase property, plant and equipment of the Group were approximately NT$8,249,000 thousand and NT17,498,000 thousand (US$553,734 thousand), respectively, of which NT$1,291,306 thousand and NT$1,516,396 thousand (US$47,987 thousand) had been prepaid, respectively.
|
|
3)
|
In consideration of corporate social responsibility for environmental protection, the Company’s board of directors, in December 2013, approved contributions to be made in the next 30 years, at a total amount of NT$3,000,000 thousand, at the minimum, to environmental protection efforts in Taiwan. In January 2015, the Company’s board of directors approved to contribute NT$100,000 thousand (US$3,165 thousand) to ASE Foundation continuously implementing environmental effort in promoting the related domestic environmental protection and public service activities.
|
|
b.
|
Non-cancellable operating lease commitments
|
December 31, 2014
|
||||||||
NT$
|
US$ (Note 4)
|
|||||||
Less than 1 year
|
$ | 224,600 | $ | 7,108 | ||||
1 to 5 years
|
275,463 | 8,717 | ||||||
More than 5 years
|
421,949 | 13,353 | ||||||
$ | 922,012 | $ | 29,178 |
36.
|
SIGNIFICANT SUBSEQUENT EVENTS
|
37.
|
EXCHANGE RATE INFORMATION OF FINANCIAL ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
|
Foreign Currencies
(In Thousand)
|
Exchange Rate
|
Carrying Amount
(In Thousand)
|
|||||||
December 31, 2013
|
|||||||||
Monetary financial assets
|
|||||||||
US$
|
$ | 3,381,706 |
US$1=NT$29.805
|
$ | 100,791,747 | ||||
JPY
|
12,302,816 |
JPY1=NT$0.2839
|
3,492,769 | ||||||
Monetary financial liabilities
|
|||||||||
US$
|
3,438,847 |
US$1=NT$29.805
|
102,494,835 | ||||||
JPY
|
11,659,321 |
JPY1=NT$0.2839
|
3,310,081 | ||||||
December 31, 2014
|
|||||||||
Monetary financial assets
|
|||||||||
US$
|
3,761,345 |
US$1=NT$31.65
|
119,046,569 | ||||||
JPY
|
12,543,157 |
JPY1=NT$0.2646
|
3,318,919 | ||||||
Monetary financial liabilities
|
|||||||||
US$
|
3,888,563 |
US$1=NT$31.65
|
123,073,019 | ||||||
JPY
|
12,728,820 |
JPY1=NT$0.2646
|
3,368,046 |
38.
|
OTHERS
|
39.
|
OPERATING SEGMENTS INFORMATION
|
a.
|
Segment revenues and results
|
Packaging
|
Testing
|
EMS
|
Others
|
Total
|
||||||||||||||||
NT$
|
NT$
|
NT$
|
NT$
|
NT$
|
||||||||||||||||
For the year ended December 31, 2012
|
||||||||||||||||||||
Revenue from external customers
|
$ | 104,298,275 | $ | 22,657,058 | $ | 62,747,665 | $ | 4,269,394 | $ | 193,972,392 | ||||||||||
Inter-segment revenues (Note)
|
303,374 | 213,210 | 43,628,905 | 7,252,285 | 51,397,774 | |||||||||||||||
Segment revenues
|
104,601,649 | 22,870,268 | 106,376,570 | 11,521,679 | 245,370,166 | |||||||||||||||
Interest income
|
112,632 | 9,837 | 166,105 | 33,623 | 322,197 | |||||||||||||||
Interest expense
|
(1,435,831 | ) | (28,039 | ) | (170,781 | ) | (369,664 | ) | (2,004,315 | ) | ||||||||||
Depreciation and amortization
|
(14,526,443 | ) | (6,098,479 | ) | (1,621,899 | ) | (1,189,058 | ) | (23,435,879 | ) | ||||||||||
Share of the profit of associates
|
63,076 | - | - | - | 63,076 | |||||||||||||||
Impairment loss
|
(55,477 | ) | (12,026 | ) | - | (29,731 | ) | (97,234 | ) | |||||||||||
Segment profit before income tax
|
8,047,189 | 5,110,442 | 2,987,544 | 463,549 | 16,608,724 | |||||||||||||||
Investments accounted for using the equity method
|
1,171,089 | - | - | - | 1,171,089 | |||||||||||||||
Segment assets
|
126,562,552 | 40,390,481 | 43,750,250 | 37,019,307 | 247,722,590 | |||||||||||||||
Expenditures for segment assets
|
28,066,806 | 7,964,966 | 2,043,085 | 901,968 | 38,976,825 | |||||||||||||||
For the year ended December 31, 2013
|
||||||||||||||||||||
Revenue from external customers
|
112,603,927 | 24,732,197 | 78,530,594 | 3,995,728 | 219,862,446 |
Inter-segment revenues (Note)
|
3,337,074 | 246,223 | 42,960,432 | 8,048,827 | 54,592,556 | |||||||||||||||
Segment revenues
|
115,941,001 | 24,978,420 | 121,491,026 | 12,044,555 | 274,455,002 | |||||||||||||||
Interest income
|
74,171 | 11,958 | 85,491 | 41,181 | 212,801 | |||||||||||||||
Interest expense
|
(1,542,047 | ) | (44,167 | ) | (96,620 | ) | (574,310 | ) | (2,257,144 | ) | ||||||||||
Depreciation and amortization
|
(16,412,763 | ) | (6,293,170 | ) | (1,658,743 | ) | (1,106,235 | ) | (25,470,911 | ) | ||||||||||
Share of the profit of associates
|
22,039 | - | - | - | 22,039 | |||||||||||||||
Impairment loss
|
(344,150 | ) | (115,966 | ) | (99,843 | ) | (131,913 | ) | (691,872 | ) | ||||||||||
Segment profit before income tax
|
9,975,902 | 6,321,022 | 2,928,223 | 144,609 | 19,369,756 | |||||||||||||||
Investments accounted for using the equity method
|
1,205,158 | - | - | - | 1,205,158 | |||||||||||||||
Segment assets
|
146,160,484 | 44,100,564 | 55,112,632 | 41,348,403 | 286,722,083 | |||||||||||||||
Expenditures for segment assets
|
18,648,304 | 6,068,085 | 1,224,698 | 1,102,985 | 27,044,072 | |||||||||||||||
For the year ended December 31, 2014
|
||||||||||||||||||||
Revenue from external customers
|
121,336,453 | 25,874,694 | 105,784,427 | 3,595,873 | 256,591,447 | |||||||||||||||
Inter-segment revenues (Note)
|
9,418,359 | 177,793 | 48,596,814 | 8,437,439 | 66,630,405 | |||||||||||||||
Segment revenues
|
130,754,812 | 26,052,487 | 154,381,241 | 12,033,312 | 323,221,852 | |||||||||||||||
Interest income
|
96,737 | 10,245 | 116,451 | 20,041 | 243,474 | |||||||||||||||
Interest expense
|
(1,566,595 | ) | (15,663 | ) | (155,702 | ) | (586,466 | ) | (2,324,426 | ) | ||||||||||
Depreciation and amortization
|
(17,533,267 | ) | (6,160,378 | ) | (1,435,509 | ) | (1,221,622 | ) | (26,350,776 | ) | ||||||||||
Share of the profit of associates
|
(121,882 | ) | - | - | - | (121,882 | ) | |||||||||||||
Impairment loss
|
(231,936 | ) | (4,701 | ) | (10,390 | ) | (61,117 | ) | (308,144 | ) | ||||||||||
Segment profit before income tax
|
17,279,239 | 6,800,894 | 3,818,393 | 636,529 | 28,535,055 | |||||||||||||||
Investments accounted for using the equity method
|
1,468,242 | - | - | - | 1,468,242 | |||||||||||||||
Segment assets
|
166,359,949 | 44,147,813 | 78,865,897 | 44,345,158 | 333,718,817 | |||||||||||||||
Expenditures for segment assets
|
29,863,337 | 6,157,154 | 6,562,513 | 865,583 | 43,448,587 |
Packaging
|
Testing
|
EMS
|
Others
|
Total
|
||||||||||||||||
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
US$ (Note 4)
|
||||||||||||||||
For the year ended December 31, 2014
|
||||||||||||||||||||
Revenue from external customers
|
$ | 3,839,761 | $ | 818,820 | $ | 3,347,609 | $ | 113,793 | $ | 8,119,983 | ||||||||||
Inter-segment revenues (Note)
|
298,049 | 5,626 | 1,537,874 | 267,008 | 2,108,557 | |||||||||||||||
Segment revenues
|
4,137,810 | 824,446 | 4,885,483 | 380,801 | 10,228,540 | |||||||||||||||
Interest income
|
3,061 | 324 | 3,685 | 635 | 7,705 | |||||||||||||||
Interest expense
|
(49,576 | ) | (496 | ) | (4,927 | ) | (18,559 | ) | (73,558 | ) | ||||||||||
Depreciation and amortization
|
(554,850 | ) | (194,949 | ) | (45,427 | ) | (38,659 | ) | (833,885 | ) | ||||||||||
Share of the profit of associates
|
(3,857 | ) | - | - | - | (3,857 | ) | |||||||||||||
Impairment loss
|
(7,340 | ) | (149 | ) | (329 | ) | (1,934 | ) | (9,752 | ) | ||||||||||
Segment profit before income tax
|
546,811 | 215,218 | 120,835 | 20,144 | 903,008 | |||||||||||||||
Investments accounted for using the equity method
|
46,463 | - | - | - | 46,463 | |||||||||||||||
Segment assets
|
5,264,555 | 1,397,083 | 2,495,756 | 1,403,328 | 10,560,722 | |||||||||||||||
Expenditures for segment assets
|
945,042 | 194,847 | 207,675 | 27,392 | 1,374,956 |
|
Note:
|
Inter-segment revenues were eliminated upon consolidation.
|
|
b.
|
Revenue from major products and services
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
Advanced packaging and IC wirebonding service
|
$ | 93,314,688 | $ | 100,457,184 | $ | 108,384,405 | $ | 3,429,887 | ||||||||
Wafer probing and final testing service
|
22,140,124 | 24,120,370 | 25,116,026 | 794,811 | ||||||||||||
Electronic components manufacturing service
|
61,650,121 | 77,731,347 | 104,904,455 | 3,319,761 | ||||||||||||
Others
|
16,867,459 | 17,553,545 | 18,186,561 | 575,524 | ||||||||||||
$ | 193,972,392 | $ | 219,862,446 | $ | 256,591,447 | $ | 8,119,983 |
|
c.
|
Geographical information
|
|
1)
|
Net revenues from external customers
|
For the Years Ended December 31
|
||||||||||||||||
2012
|
2013
|
2014
|
||||||||||||||
NT$
|
NT$
|
NT$
|
US$ (Note 4)
|
|||||||||||||
United States
|
$ | 118,842,871 | $ | 143,753,891 | $ | 173,912,974 | $ | 5,503,575 | ||||||||
Taiwan
|
33,443,120 | 31,277,147 | 36,747,699 | 1,162,902 | ||||||||||||
Asia
|
22,295,261 | 23,779,212 | 24,042,586 | 760,841 | ||||||||||||
Europe
|
19,068,043 | 20,392,268 | 20,826,125 | 659,055 | ||||||||||||
Others
|
323,097 | 659,928 | 1,062,063 | 33,610 | ||||||||||||
$ | 193,972,392 | $ | 219,862,446 | $ | 256,591,447 | $ | 8,119,983 |
|
2)
|
Noncurrent assets, excluding financial instruments, post-employment benefit assets and deferred tax assets
|
December 31
|
||||||||||||
2013
|
2014
|
|||||||||||
NT$
|
NT$
|
US$ (Note 4)
|
||||||||||
Taiwan
|
$ | 82,174,469 | $ | 97,159,564 | $ | 3,074,670 | ||||||
China
|
40,121,292 | 43,384,186 | 1,372,917 | |||||||||
Others
|
25,864,658 | 26,177,965 | 828,417 | |||||||||
$ | 148,160,419 | $ | 166,721,715 | $ | 5,276,004 |
|
d.
|
Major customers
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
KLA Corporation | KLAC |
Texas Instruments Incorporated | TXN |
Xilinx, Inc. | XLNX |
No Suppliers Found
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|