1
Stock Code:8046
NAN YA PRINTED CIRCUIT BOARD
CORPORATION AND SUBSIDIARIES
Consolidated Financial Statements
With Independent Auditors' Review Report
For the Six Months Ended June 30, 2024 and 2023
Address: | 7F., No. 390, Sec. 6, Nanjing E. Rd., Neihu Dist., Taipei City |
Telephone: | (02)27122211 |
The independent auditors' review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' review report and consolidated financial statements, the Chinese version shall prevail.
2
Table of contents
Contents | Page | |||
1. | Cover Page | 1 | ||
2. | Table of Contents | 2 | ||
3. | Independent Auditors' Review Report | 3 | ||
4. | Consolidated Balance Sheets | 4 | ||
5. | Consolidated Statements of Comprehensive Income | 5 | ||
6. | Consolidated Statements of Changes in Equity | 6 | ||
7. | Consolidated Statements of Cash Flows | 7 | ||
8. | Notes to the Consolidated Financial Statements | |||
(1) | Company history | 8 | ||
(2) | Approval date and procedures of the consolidated financial statements | 8 | ||
(3) | New standards, amendments and interpretations adopted | 8～10 | ||
(4) | Summary of material accounting policies | 10～11 | ||
(5) | Significant accounting assumptions and judgments, and major sources | 11 | ||
of estimation uncertainty | ||||
(6) | Explanation of significant accounts | 11～30 | ||
(7) | Related-party transactions | 30～34 | ||
(8) | Pledged assets | 34 | ||
(9) | Commitments and contingencies | 34 | ||
(10) | Losses Due to Major Disasters | 35 | ||
(11) | Subsequent Events | 35 | ||
(12) | Other | 35 | ||
(13) | Other disclosures | |||
(a) Information on significant transactions | 36～37 | |||
(b) Information on investees | 37 | |||
(c) Information on investment in mainland China | 37～38 | |||
(d) Major shareholders | 38 | |||
(14) | Segment information | 38～39 |
3
Independent Auditors' Review Report
To the Board of Directors of
Nan Ya Printed Circuit Board Corporation:
Introduction
We have reviewed the accompanying consolidated balance sheets of Nan Ya Printed Circuit Board Corporation and its subsidiaries as of June 30, 2024 and 2023, and the related consolidated statements of comprehensive income for the three months and six months ended June 30, 2024 and 2023, as well as the changes in equity and cash flows for the six months ended June 30, 2024 and 2023, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.
Scope of Review
We conducted our reviews in accordance with the Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" of the Republic of China. A review of the consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing of the Republic of China and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
3-1
Conclusion
Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of Nan Ya Printed Circuit Board Corporation and its subsidiaries as of June 30, 2024 and 2023, and of its consolidated financial performance for the three months and six months ended June 30, 2024 and 2023, as well as its consolidated cash flows for the six months ended June 30, 2024 and 2023 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.
The engagement partners on the reviews resulting in this independent auditors' review report are Kuo, Hsin-Yi and Lee, Tzu-Hui.
KPMG
Taipei, Taiwan (Republic of China)
August 6, 2024
Notes to Readers
The accompanying consolidated financial statements are intended only to present the consolidated statement of financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally accepted and applied in the Republic of China.
The independent auditors' review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' review report and consolidated financial statements, the Chinese version shall prevail.
4
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
June 30, 2024, December 31 and June 30, 2023
(Expressed in Thousands of New Taiwan Dollars)
June 30, 2024 | December 31, 2023 | June 30, 2023 | June 30, 2024 | December 31, 2023 | June 30, 2023 | |||||||||||||||||||||||||||||||||
Assets | Amount | % | Amount | % | Amount | % | Liabilities and equity | Amount | % | Amount | % | Amount | % | |||||||||||||||||||||||||
Current assets: | Current liabilities: | |||||||||||||||||||||||||||||||||||||
1100 | Cash and cash equivalents (note 6(a)) | $ | 11,844,114 | 17 | 12,329,798 | 17 | 22,517,212 | 28 | 2130 | Current contract liabilities (note 6(m)) | $ | 2,218,144 | 3 | 1,991,749 | 3 | 1,983,869 | 2 | |||||||||||||||||||||
1120 | Current financial assets at fair value through other | 172,270 | - | 237,283 | - | 256,757 | - | 2170 | Accounts payable | 1,712,689 | 3 | 2,731,645 | 4 | 4,089,392 | 5 | |||||||||||||||||||||||
comprehensive income | 2180 | Accounts payable to related parties (note 7) | 282,533 | 1 | 330,321 | - | 291,359 | - | ||||||||||||||||||||||||||||||
1170 | Notes and accounts receivable, net (notes 6(b) and | 6,545,766 | 10 | 6,849,920 | 10 | 8,491,771 | 11 | |||||||||||||||||||||||||||||||
2216 | Dividends payable | 3,553,910 | 5 | - | - | 11,630,978 | 14 | |||||||||||||||||||||||||||||||
(m)) | ||||||||||||||||||||||||||||||||||||||
2219 | Other payables | 1,732,040 | 3 | 2,746,138 | 4 | 2,477,831 | 3 | |||||||||||||||||||||||||||||||
1180 | Accounts receivable due from related parties (notes | |||||||||||||||||||||||||||||||||||||
2220 | Other payables to related parties (note 7) | 64,935 | - | 36,206 | - | 30,713 | - | |||||||||||||||||||||||||||||||
6(b), (m) and 7) | 46,944 | - | 47,714 | - | 81,011 | - | ||||||||||||||||||||||||||||||||
2230 | Current tax liabilities | 66 | - | 849,868 | 1 | 823,848 | 1 | |||||||||||||||||||||||||||||||
1200 | Other receivables (note 6(c)) | 619,715 | 1 | 612,646 | 1 | 306,091 | - | |||||||||||||||||||||||||||||||
2281 | Current lease liabilities (note 6(h)) | 4,673 | - | 9,588 | - | 12,003 | - | |||||||||||||||||||||||||||||||
1210 | Other receivables due from related parties (notes | |||||||||||||||||||||||||||||||||||||
2282 | Current lease liabilities, related parties (notes 6(h) | |||||||||||||||||||||||||||||||||||||
6(c) and 7) | 14,552 | - | 2,302 | - | 59,962 | - | 253,331 | - | 246,114 | - | 244,831 | - | ||||||||||||||||||||||||||
1310 | Inventories (note 6(d)) | 3,919,540 | 6 | 3,896,223 | 6 | 4,773,991 | 6 | and 7) | ||||||||||||||||||||||||||||||
2300 | Other current liabilities | 207,799 | - | 158,806 | - | 238,455 | - | |||||||||||||||||||||||||||||||
1470 | Prepayments and other current assets | 213,621 | - | 498,301 | 1 | 178,866 | - | |||||||||||||||||||||||||||||||
Total current liabilities | 10,030,120 | 15 | 9,100,435 | 12 | 21,823,279 | 25 | ||||||||||||||||||||||||||||||||
Total current assets | 23,376,522 | 34 | 24,474,187 | 35 | 36,665,661 | 45 | ||||||||||||||||||||||||||||||||
Non-current liabilities: | ||||||||||||||||||||||||||||||||||||||
Non-current assets: | ||||||||||||||||||||||||||||||||||||||
2527 | Non-current contract liabilities (note 6(m)) | 6,624,274 | 10 | 7,233,676 | 11 | 7,871,450 | 10 | |||||||||||||||||||||||||||||||
1550 | Investments accounted for using equity method (note | |||||||||||||||||||||||||||||||||||||
2570 | Deferred tax liabilities | 3,411,642 | 5 | 3,441,505 | 5 | 3,308,627 | 4 | |||||||||||||||||||||||||||||||
6(e)) | 481,130 | 1 | 486,857 | 1 | 486,969 | 1 | ||||||||||||||||||||||||||||||||
1600 | Property, plant and equipment (note 6(f)) | 42,107,083 | 62 | 43,106,634 | 61 | 41,994,339 | 51 | 2581 | Non-current lease liabilities (note 6(h)) | 1,113 | - | 2,216 | - | 5,786 | - | |||||||||||||||||||||||
1755 | Right-of-use assets (notes 6(g) and 7) | 1,592,488 | 2 | 1,707,192 | 2 | 1,838,877 | 2 | 2582 | Non-current lease liabilities, related parties (notes | 1,321,328 | 2 | 1,435,463 | 2 | 1,558,842 | 2 | |||||||||||||||||||||||
1840 | Deferred tax assets | 403,326 | 1 | 647,139 | 1 | 818,600 | 1 | 6(h) and 7) | ||||||||||||||||||||||||||||||
2640 | Net defined benefit liability, non-current | 1,089,972 | 2 | 1,112,644 | 2 | 1,575,435 | 2 | |||||||||||||||||||||||||||||||
1900 | Other non-current assets | 9,933 | - | 15,436 | - | 16,170 | - | |||||||||||||||||||||||||||||||
2645 | Guarantee deposits received | 308,155 | - | 203,590 | - | 134,718 | - | |||||||||||||||||||||||||||||||
Total non-current assets | 44,593,960 | 66 | 45,963,258 | 65 | 45,154,955 | 55 | ||||||||||||||||||||||||||||||||
Total non-current liabilities | 12,756,484 | 19 | 13,429,094 | 20 | 14,454,858 | 18 | ||||||||||||||||||||||||||||||||
Total liabilities | 22,786,604 | 34 | 22,529,529 | 32 | 36,278,137 | 43 | ||||||||||||||||||||||||||||||||
Equity (note 6(k)): | ||||||||||||||||||||||||||||||||||||||
3100 | Ordinary shares | 6,461,655 | 9 | 6,461,655 | 9 | 6,461,655 | 8 | |||||||||||||||||||||||||||||||
3200 | Capital surplus | 18,125,615 | 27 | 18,125,615 | 26 | 18,125,576 | 22 | |||||||||||||||||||||||||||||||
3310 | Legal reserve | 8,473,910 | 12 | 7,857,185 | 11 | 7,857,185 | 10 | |||||||||||||||||||||||||||||||
3320 | Special reserve | 1,112,574 | 2 | 761,647 | 1 | 761,647 | 1 | |||||||||||||||||||||||||||||||
3350 | Unappropriated retained earnings | 11,259,003 | 16 | 15,814,388 | 23 | 13,544,922 | 17 | |||||||||||||||||||||||||||||||
3400 | Other equity interest | (248,879) | - | (1,112,574) | (2) | (1,208,506) | (1) | |||||||||||||||||||||||||||||||
Total equity | 45,183,878 | 66 | 47,907,916 | 68 | 45,542,479 | 57 | ||||||||||||||||||||||||||||||||
Total assets | $ | 67,970,482 | 100 | 70,437,445 | 100 | 81,820,616 | 100 | Total liabilities and equity | $ | 67,970,482 | 100 | 70,437,445 | 100 | 81,820,616 | 100 | |||||||||||||||||||||||
See accompanying notes to consolidated financial statements.
5
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
For the three months and six months ended June 30, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Share)
4000
5000
For the three months ended | For the six months ended | |||||||||||||||||
June 30, | June 30, | |||||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||||
Amount | % | Amount | % | Amount | % | Amount | % | |||||||||||
Operating revenue (notes 6(m) and 7) | $ 8,120,606 | 100 | 10,133,643 | 100 | 15,221,178 | 100 | 22,714,300 | 100 | ||||||||||
Operating costs (notes 6(d), (f), (g), (h), (i), (n) and 7) | 7,937,110 | 98 | 8,211,435 | 81 | 15,418,149 | 101 | 17,074,210 | 75 | ||||||||||
Gross profit from operations | 183,496 | 2 | 1,922,208 | 19 | (196,971) | (1) | 5,640,090 | 25 | ||||||||||
Operating expenses (notes 6(b), (f), (g), (h), (i), (n) and 7): |
6100 | Selling expenses | 66,915 | 1 | 104,918 | 1 | 157,097 | 1 | 245,197 | 1 | |||||||
6200 | Administrative expenses | 323,552 | 4 | 373,168 | 4 | 646,910 | 4 | 785,616 | 4 | |||||||
6000 | Total operating expenses | 390,467 | 5 | 478,086 | 5 | 804,007 | 5 | 1,030,813 | 5 | |||||||
6900 | Net operating (loss) income | (206,971) | (3) | 1,444,122 | 14 | (1,000,978) | (6) | 4,609,277 | 20 | |||||||
Non-operating income and expenses (notes 6(e), (f), (h), (o) and 7): |
7100
7010
7020
7050
7060
7900
7950
8200
8300
8310
8316
8320
8349
Interest income | 71,040 | 1 | 119,848 | 1 | 143,700 | 1 | 185,411 | 1 | ||||||||
Other income | 181,625 | 2 | 64,538 | 1 | 371,792 | 2 | 131,632 | - | ||||||||
Other gains and losses | 129,742 | 2 | 342,559 | 3 | 413,454 | 3 | 190,846 | 1 | ||||||||
Finance costs | (4,454) | - | (4,950) | - | (9,006) | - | (9,976) | - | ||||||||
Share of profit of associates accounted for using equity method | 8,639 | - | 6,791 | - | 19,248 | - | 14,078 | - | ||||||||
Total non-operating income and expenses | 386,592 | 5 | 528,786 | 5 | 939,188 | 6 | 511,991 | 2 | ||||||||
(Loss) profit before tax | 179,621 | 2 | 1,972,908 | 19 | (61,790) | - | 5,121,268 | 22 | ||||||||
Less: Tax (benefit) expense (note 6(j)) | 61,024 | 1 | 400,368 | 3 | (27,967) | - | 1,223,487 | 5 | ||||||||
(Loss) profit | ||||||||||||||||
118,597 | 1 | 1,572,540 | 16 | (33,823) | - | 3,897,781 | 17 | |||||||||
Other comprehensive income (notes 6(e), (j) and (k)): | ||||||||||||||||
Components of other comprehensive income that will not be | ||||||||||||||||
reclassified to profit or loss | ||||||||||||||||
Unrealized (losses) gains from investments in equity instruments | ||||||||||||||||
measured at fair value through other comprehensive income | (34,154) | - | (20,662) | - | (65,013) | - | (19,849) | - | ||||||||
Share of other comprehensive income of associates accounted for | ||||||||||||||||
using equity method | (4,477) | - | (1,464) | - | (13,035) | - | 2,858 | - | ||||||||
Less: income tax related to components of other comprehensive | ||||||||||||||||
income that will not be reclassified to profit or loss | - | - | - | - | - | - | - | - | ||||||||
Components of other comprehensive income that will not be |
reclassified to profit or loss | (38,631) | - | (22,126) | - | (78,048) | - | (16,991) | - | ||||||||||||||
8360 | Components of other comprehensive income that will be reclassified | |||||||||||||||||||||
to profit or loss | ||||||||||||||||||||||
8361 | Exchange differences on translation | 246,058 | 3 | (651,024) | (7) | 1,177,179 | 8 | (537,334) | (2) | |||||||||||||
8399 | Less: income tax related to components of other comprehensive | |||||||||||||||||||||
income that will be reclassified to profit or loss | 49,212 | 1 | (130,204) | (1) | 235,436 | 2 | (107,466) | - | ||||||||||||||
Components of other comprehensive income that will be | ||||||||||||||||||||||
reclassified to profit or loss | 196,846 | 2 | (520,820) | (6) | 941,743 | 6 | (429,868) | (2) | ||||||||||||||
8300 | Other comprehensive income, net | 158,215 | 2 | (542,946) | (6) | 863,695 | 6 | (446,859) | (2) | |||||||||||||
8500 | Total comprehensive income | $ | 276,812 | 3 | 1,029,594 | 10 | 829,872 | 6 | 3,450,922 | 15 | ||||||||||||
Earnings per share (note 6(l)) | ||||||||||||||||||||||
9750 | Basic earnings per share | $ | 0.18 | 2.43 | (0.05) | 6.03 | ||||||||||||||||
9850 | Diluted earnings per share | $ | 0.18 | 2.43 | (0.05) | 6.03 | ||||||||||||||||
See accompanying notes to consolidated financial statements.
6
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Changes in Equity For the six months ended June 30, 2024 and 2023 (Expressed in Thousands of New Taiwan Dollars)
Other equity interest | ||||||||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||||||||
gains (losses) | ||||||||||||||||||||||||||||||||||
on financial | ||||||||||||||||||||||||||||||||||
Exchange | assets | |||||||||||||||||||||||||||||||||
differences on | measured at | |||||||||||||||||||||||||||||||||
translation of | fair value | |||||||||||||||||||||||||||||||||
Unappropriated | foreign | through other | ||||||||||||||||||||||||||||||||
Ordinary | Capital | Legal | Special | retained | financial | comprehensive | Total | |||||||||||||||||||||||||||
Balance at January 1, 2023 | share | surplus | reserve | reserve | earnings | statements | income | Total | equity | |||||||||||||||||||||||||
$ | 6,461,655 | 18,125,608 | 5,896,621 | 861,246 | 23,139,084 | (744,544) | (17,103) | (761,647) | 53,722,567 | |||||||||||||||||||||||||
Profit for the six months ended June 30, 2023 | - | - | - | - | 3,897,781 | - | - | - | 3,897,781 | |||||||||||||||||||||||||
Other comprehensive income for the six months ended June 30, 2023 | - | - | - | - | - | (429,868) | (16,991) | (446,859) | (446,859) | |||||||||||||||||||||||||
Total comprehensive income for the six months ended June 30, 2023 | - | - | - | - | 3,897,781 | (429,868) | (16,991) | (446,859) | 3,450,922 | |||||||||||||||||||||||||
Appropriation and allocation of earnings: | ||||||||||||||||||||||||||||||||||
Legal reserve appropriated | - | - | 1,960,564 | - | (1,960,564) | - | - | - | - | |||||||||||||||||||||||||
Reversal of special reserve | - | - | - | (99,599) | 99,599 | - | - | - | - | |||||||||||||||||||||||||
Cash dividends of ordinary share | - | - | - | - | (11,630,978) | - | - | - | (11,630,978) | |||||||||||||||||||||||||
Other changes in capital surplus: | ||||||||||||||||||||||||||||||||||
Other changes in capital surplus | - | (32) | - | - | - | - | - | - | (32) | |||||||||||||||||||||||||
Balance at June 30, 2023 | $ | 6,461,655 | 18,125,576 | 7,857,185 | 761,647 | 13,544,922 | (1,174,412) | (34,094) | (1,208,506) | 45,542,479 | ||||||||||||||||||||||||
Balance at January 1, 2024 | ||||||||||||||||||||||||||||||||||
$ | 6,461,655 | 18,125,615 | 7,857,185 | 761,647 | 15,814,388 | (1,056,659) | (55,915) | (1,112,574) | 47,907,916 | |||||||||||||||||||||||||
Loss for the six months ended June 30, 2024 | - | - | - | - | (33,823) | - | - | - | (33,823) | |||||||||||||||||||||||||
Other comprehensive income for the six months ended June 30, 2024 | - | - | - | - | - | 941,743 | (78,048) | 863,695 | 863,695 | |||||||||||||||||||||||||
Total comprehensive income for the six months ended June 30, 2024 | - | - | - | - | (33,823) | 941,743 | (78,048) | 863,695 | 829,872 | |||||||||||||||||||||||||
Appropriation and allocation of earnings: | ||||||||||||||||||||||||||||||||||
Legal reserve appropriated | - | - | 616,725 | - | (616,725) | - | - | - | - | |||||||||||||||||||||||||
Special reserve appropriated | - | - | - | 350,927 | (350,927) | - | - | - | - | |||||||||||||||||||||||||
Cash dividends of ordinary share | - | - | - | - | (3,553,910) | - | - | - | (3,553,910) | |||||||||||||||||||||||||
Balance at June 30, 2024 | ||||||||||||||||||||||||||||||||||
$ | 6,461,655 | 18,125,615 | 8,473,910 | 1,112,574 | 11,259,003 | (114,916) | (133,963) | (248,879) | 45,183,878 | |||||||||||||||||||||||||
See accompanying notes to consolidated financial statements.
7
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the six months ended June 30, 2024 and 2023 (Expressed in Thousands of New Taiwan Dollars)
For the six months ended
June 30, | ||||||
2024 | 2023 | |||||
Cash flows from operating activities: | ||||||
(Loss) profit before tax | $ | (61,790) | 5,121,268 | |||
Adjustments: | ||||||
Adjustments to reconcile profit: | ||||||
Depreciation expense | 3,217,301 | 2,768,601 | ||||
Interest expense | 9,006 | 9,976 | ||||
Interest income | (143,700) | (185,411) | ||||
Share of profit of associates accounted for using equity method | (19,248) | (14,078) | ||||
(Gain) loss on disposal of property, plant and equipment | (337) | 38,988 | ||||
Reversal of impairment loss on non-financial assets | (75) | (13) | ||||
Unrealized foreign exchange gain | (43,680) | (149,888) | ||||
Total adjustments to reconcile profit | 3,019,267 | 2,468,175 | ||||
Changes in operating assets and liabilities: | ||||||
Changes in operating assets: | ||||||
Decrease in notes and accounts receivable (including related parties) | 330,332 | 6,418,351 | ||||
Decrease (increase) in other receivables (including related parties) | 41,422 | (65,619) | ||||
(Increase) decrease in inventories | (26,305) | 1,029,656 | ||||
Decrease in prepayments | 18,332 | 148,778 | ||||
Total changes in operating assets | 363,781 | 7,531,166 | ||||
Changes in operating liabilities: | ||||||
(Decrease) increase in contract liabilities | (383,007) | 1,144,462 | ||||
Decrease in accounts payable (including related parties) | (1,066,796) | (919,394) | ||||
Decrease in other payables (including related parties) | (985,369) | (1,103,470) | ||||
Increase in other current liabilities | 48,993 | 17,883 | ||||
Decrease in net defined benefit liabilities | (22,672) | (326,652) | ||||
Total changes in operating liabilities | ||||||
(2,408,851) | (1,187,171) | |||||
Total changes in operating assets and liabilities | ||||||
(2,045,070) | 6,343,995 | |||||
Total adjustments | 974,197 | 8,812,170 | ||||
Cash inflow generated from operations | 912,407 | 13,933,438 | ||||
Interest received | 136,598 | 171,240 | ||||
Interest paid | (9,006) | (9,976) | ||||
Income taxes paid | (872,256) | (3,299,963) | ||||
Net cash flows from operating activities | 167,743 | 10,794,739 | ||||
Cash flows used in investing activities: | ||||||
Acquisition of financial assets at fair value through other comprehensive income | - | (276,606) | ||||
Acquisition of property, plant and equipment | (1,326,722) | (7,801,447) | ||||
Proceeds from disposal of property, plant and equipment | 6,666 | 21,396 | ||||
Decrease in other financial assets | 277,922 | - | ||||
Decrease (increase) in other non-current assets | 5,503 | (4,573) | ||||
Net cash flows used in investing activities | ||||||
(1,036,631) | (8,061,230) | |||||
Cash flows used in financing activities: | ||||||
Increase in guarantee deposits received | 104,565 | 5,643 | ||||
Payment of lease liabilities | (130,902) | (126,879) | ||||
Net cash flows used in financing activities | ||||||
(26,337) | (121,236) | |||||
Effect of exchange rate changes on cash and cash equivalents | ||||||
409,541 | (139,178) | |||||
Net (decrease) increase in cash and cash equivalents | ||||||
(485,684) | 2,473,095 | |||||
Cash and cash equivalents at beginning of period | 12,329,798 | 20,044,117 | ||||
Cash and cash equivalents at end of period | $ | 11,844,114 | 22,517,212 | |||
See accompanying notes to consolidated financial statements.
8
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Notes to the Consolidated Financial Statements For the Six Months Ended June 30, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)
(1) Company history
Nan Ya Printed Circuit Board Corporation "the Company" was legally established with the approval by the Ministry of Economic Affairs on October 28, 1997, with registered address at 7F., No. 390, Sec. 6, Nanjing E. Rd., Neihu Dist., Taipei City, Taiwan. The Company and its subsidiaries "the Group" main operating activities are primarily in the manufacturing and selling of printed circuit boards.
(2) Approval date and procedures of the consolidated financial statements
The accompanying consolidated financial statements were approved and authorized for issuance by the Board of Directors on August 6, 2024 .
- New standards, amendments and interpretations adopted:
-
The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission, R.O.C. which have already been adopted.
The Group has initially adopted the following new amendments, which do not have a significant impact on its consolidated financial statements, from January 1, 2024: - Amendments to IAS 1 "Classification of Liabilities as Current or Non-current"
- Amendments to IAS 1 "Non-current Liabilities with Covenants"
- Amendments to IAS 7 and IFRS 7 "Supplier Finance Arrangements"
- Amendments to IFRS 16 "Lease Liability in a Sale and Leaseback"
-
The impact of IFRS issued by the FSC but not yet effective
The Group assesses that the adoption of the following new amendments, effective for annual period beginning on January 1, 2025, would not have a significant impact on its consolidated financial statements: - Amendments to IAS21 "Lack of Exchangeability"
-
The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission, R.O.C. which have already been adopted.
(Continued)
9
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
- The impact of IFRS issued by IASB but not yet endorsed by the FSC
The following new and amended standards, which may be relevant to the Group, have been issued by the International Accounting Standards Board (IASB), but have yet to be endorsed by the FSC:
Standards or | Effective date per | ||||||||
Interpretations | Content of amendment | IASB | |||||||
IFRS 18 "Presentation | The new standard introduces three categories of | January 1, 2027 | |||||||
and Disclosure in | income and expenses, two income statement | ||||||||
Financial Statements" | subtotals and one single note on management | ||||||||
performance measures. The three amendments, | |||||||||
combined with enhanced guidance on how to | |||||||||
disaggregate information, set the stage for better | |||||||||
and more consistent information for users, and | |||||||||
will affect all the entities. | |||||||||
● | A more structured income statement: under | ||||||||
current standards, companies use different | |||||||||
formats to present their results, making it | |||||||||
difficult for investors to compare financial | |||||||||
performance across companies. The new | |||||||||
standard promotes a more structured income | |||||||||
statement, introducing a newly defined | |||||||||
'operating profit' subtotal and a requirement | |||||||||
for all income and expenses to be allocated | |||||||||
between three new distinct categories based | |||||||||
on a company's main business activities. | |||||||||
● | Management | performance | measures | ||||||
(MPMs): the new standard introduces a | |||||||||
definition for management performance | |||||||||
measures, and requires companies to explain | |||||||||
in a single note to the financial statements | |||||||||
why | the | measure | provides | useful | |||||
information, how it is calculated and | |||||||||
reconcile it to an amount determined under | |||||||||
IFRS Accounting Standards. | |||||||||
● | Greater disaggregation of information: the | ||||||||
new standard includes enhanced guidance on |
how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes.
The Group is evaluating the impact on its consolidated financial position and consolidated financial performance upon the initial adoption of the abovementioned standards or interpretations. The results thereof will be disclosed when the Group completes its evaluation.
(Continued)