NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY FINANCIAL
STATEMENTS AND INDEPENDENT AUDITORS'
REPORT
DECEMBER 31, 2024 AND 2023
~1~
INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE
To the Board of Directors and Shareholders of NANTEX INDUSTRY CO., LTD.
Opinion
We have audited the accompanying parent company only balance sheets of NANTEX INDUSTRY CO., LTD. (the "Company") as at December 31, 2024 and 2023, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the parent company only financial statements, including a summary of material accounting policies.
In our opinion, the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2024 and 2023, and its financial performance and its cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.
Basis for opinion
We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the parent company only financial statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Company's 2024 parent company only financial statements. These matters were addressed in the context of our audit of the parent company only financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on this matter.
Key audit matter for the Company's 2024 parent company only financial statements is stated as follows:
Existence of revenue from export sales
Description
Refer to Note 4(25) for the accounting policies on revenue recognition. The Company is
~2~
primarily engaged in the manufacture, processing and sales of various types of latex, rubbers and related products, and is involved in domestic and international sales. Affected by the economic environment, the net sales revenue in 2024 was NT$5,064,893 thousand, an increase of 57% compared to the prior year. Since the export sales transactions are numerous, accounting for 93% of the total net sales revenue, and the verification of transaction authenticity also takes a long time, we considered the existence of revenue from export sales a key audit matter.
How our audit addressed the matter
We performed the following audit procedures on the above key audit matter:
A. Obtained an understanding of the design of internal control system related to sales transaction process and tested the effectiveness of its operation.
B. Assessed basic information of the major customers apart from Taiwan region, including representative, registered address, actual business address and relationship, and assessed the reasonableness of transactions.
- Selected samples of sales transactions and checked against related supporting documentation, including customer orders, shipping orders, export declaration documents and subsequent cash collection.
Responsibilities of management and those charged with governance for the parent company only financial statements
Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and for such internal control as management determines is necessary to enable the preparation of parent company only financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the parent company only financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance, including the audit committee, are responsible for overseeing the Company's financial reporting process.
Auditors' responsibilities for the audit of the parent company only financial statements
Our objectives are to obtain reasonable assurance about whether the parent company only financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance
~3~
is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:
A. Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
B. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
C. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
D. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the parent company only financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.
E. Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
F. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.
~4~
We communicate with those charged with governance (including the audit committee) regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance (including the audit committee) with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the parent company only financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Hsu, Huei-Yu
Independent Accountants
Tien, Chung-Yu
PricewaterhouseCoopers, Taiwan
Republic of China
March 7, 2025
-------------------------------------------------------------------------------------------------------------------------------
The accompanying parent company only financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying parent company only financial statements and independent auditors' report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.
As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.
~5~
NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)
December 31, 2024 | December 31, 2023 | ||||||||||||
Assets | Notes | AMOUNT | % | AMOUNT | % | ||||||||
Current assets | |||||||||||||
1100 | Cash and cash equivalents | 6(1) | $ | 1,273,362 | 8 | $ | 2,016,300 | 13 | |||||
1110 | Current financial assets at fair value | 6(2) | |||||||||||
through profit or loss | 30,030 | - | 30,150 | - | |||||||||
1150 | Notes receivable, net | 6(3) | 33,832 | - | 32,632 | - | |||||||
1170 | Accounts receivable, net | 6(3) and 7 | 525,794 | 3 | 269,397 | 2 | |||||||
1200 | Other receivables | 52,160 | 1 | 21,228 | - | ||||||||
130X | Inventory | 6(4) | 657,757 | 4 | 467,775 | 3 | |||||||
1410 | Prepayments | 159,930 | 1 | 88,489 | 1 | ||||||||
11XX | Total current assets | ||||||||||||
2,732,865 | 17 | 2,925,971 | 19 | ||||||||||
Non-current assets | |||||||||||||
1517 | Non-current financial assets at fair | 6(5) | |||||||||||
value through other comprehensive | |||||||||||||
income | 577,699 | 4 | 563,357 | 4 | |||||||||
1550 | Investments accounted for under | 6(6) | |||||||||||
equity method | 10,992,686 | 68 | 9,888,362 | 65 | |||||||||
1600 | Property, plant and equipment | 6(7) and 8 | 1,282,882 | 8 | 1,393,275 | 9 | |||||||
1755 | Right-of-use assets | 6(8) and 7 | 145,300 | 1 | 175,563 | 1 | |||||||
1780 | Intangible assets | 6(9) | 212 | - | 350 | - | |||||||
1840 | Deferred income tax assets | 6(23) | 9,689 | - | 19,794 | - | |||||||
1915 | Prepayments for business facilities | 3 | - | - | - | ||||||||
1920 | Guarantee deposits paid | 8 | 413 | - | 413 | - | |||||||
1975 | Net defined benefit asset | 6(12) | 238,442 | 1 | 178,888 | 1 | |||||||
1990 | Other non-current assets | 81,682 | 1 | 55,533 | 1 | ||||||||
15XX | Total non-current assets | ||||||||||||
13,329,008 | 83 | 12,275,535 | 81 | ||||||||||
1XXX | Total assets | ||||||||||||
$ | 16,061,873 | 100 | $ | 15,201,506 | 100 | ||||||||
(Continued)
~6~
NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars)
December 31, 2024 | December 31, 2023 | ||||||||||||
Liabilities and Equity | Notes | AMOUNT | % | AMOUNT | % | ||||||||
Current liabilities | |||||||||||||
2100 | Short-term borrowings | 6(10) | $ | 50,000 | - | $ | 100,000 | 1 | |||||
2130 | Current contract liabilities | 6(16) | 5,905 | - | 8,284 | - | |||||||
2170 | Accounts payable | 265,157 | 2 | 119,439 | 1 | ||||||||
2200 | Other payables | 6(11) and 7 | 258,388 | 2 | 262,325 | 2 | |||||||
2230 | Current income tax liabilities | 182,306 | 1 | 23,700 | - | ||||||||
2280 | Current lease liabilities | 6(8) and 7 | 30,789 | - | 29,799 | - | |||||||
21XX | Total current liabilities | ||||||||||||
792,545 | 5 | 543,547 | 4 | ||||||||||
Non-current liabilities | |||||||||||||
2570 | Deferred income tax liabilities | 6(23) | 375,624 | 2 | 364,877 | 2 | |||||||
2580 | Non-current lease liabilities | 6(8) and 7 | 120,269 | 1 | 150,130 | 1 | |||||||
25XX | Total non-current liabilities | ||||||||||||
495,893 | 3 | 515,007 | 3 | ||||||||||
2XXX | Total liabilities | ||||||||||||
1,288,438 | 8 | 1,058,554 | 7 | ||||||||||
Equity | |||||||||||||
Share capital | 6(13) | ||||||||||||
3110 | Common stock | 4,924,167 | 31 | 4,924,167 | 32 | ||||||||
Capital surplus | 6(6)(14) | ||||||||||||
3200 | Capital surplus | 29,204 | - | 28,939 | - | ||||||||
Retained earnings | 6(15) | ||||||||||||
3310 | Legal reserve | 2,620,943 | 16 | 2,547,956 | 17 | ||||||||
3320 | Special reserve | 433,442 | 3 | 433,442 | 3 | ||||||||
3350 | Unappropriated retained earnings | 6,314,514 | 39 | 6,270,471 | 41 | ||||||||
Other equity interest | 6(5)(6) | ||||||||||||
3400 | Other equity interest | 451,165 | 3 | ( | 62,023) | - | |||||||
3XXX | Total equity | ||||||||||||
14,773,435 | 92 | 14,142,952 | 93 | ||||||||||
Significant contingent liabilities and | 9 | ||||||||||||
unrecognised contract commitments | |||||||||||||
Significant events after the balance | |||||||||||||
sheet date | |||||||||||||
3X2X | Total liabilities and equity | $ | 16,061,873 | 100 | $ | 15,201,506 | 100 | ||||||
The accompanying notes are an integral part of these parent company only financial statements.
~7~
NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2024 AND 2023
(Expressed in thousands of New Taiwan dollars, except earnings per share amount)
Year ended December 31 | |||||||||||||||
2024 | 2023 | ||||||||||||||
Items | Notes | AMOUNT | % | AMOUNT | % | ||||||||||
4000 | Operating revenue | 6(16) and 7 | $ | 5,064,893 | 100 | $ | 3,220,392 | 100 | |||||||
5000 | Operating costs | 6(4)(21)(22) and 7 | ( | 4,358,384) ( | 86) ( | 2,688,795) ( | 83) | ||||||||
5900 | Net operating margin | 706,509 | 14 | 531,597 | 17 | ||||||||||
Operating expenses | 6(8)(12)(21)(22) | ||||||||||||||
6100 | Selling expenses | ( | 360,860) ( | 7) ( | 221,341) ( | 7) | |||||||||
6200 | General and administrative expenses | ( | 298,206) ( | 6) ( | 285,083) ( | 9) | |||||||||
6300 | Research and development expenses | ( | 60,005) ( | 1) ( | 60,750) ( | 2) | |||||||||
6000 | Total operating expenses | ||||||||||||||
( | 719,071) ( | 14) ( | 567,174) ( | 18) | |||||||||||
6900 | Operating loss | ||||||||||||||
( | 12,562) | - | ( | 35,577) ( | 1) | ||||||||||
Non-operating income and expenses | |||||||||||||||
7100 | Interest income | 6(5)(17) | 40,058 | 1 | 75,429 | 2 | |||||||||
7010 | Other income | 6(5)(10)(18) | 29,278 | - | 9,581 | - | |||||||||
7020 | Other gains and losses | 6(2)(8)(19) and 12 | 92,116 | 2 | ( | 7,231) | - | ||||||||
7050 | Finance costs | 6(8)(20) and 7 | ( | 3,640) | - | ( | 2,955) | - | |||||||
7070 | Share of profit of subsidiaries, | 6(6) | |||||||||||||
associates and joint ventures | |||||||||||||||
accounted for using equity method | 656,092 | 13 | 759,953 | 24 | |||||||||||
7000 | Total non-operating income and | ||||||||||||||
expenses | 813,904 | 16 | 834,777 | 26 | |||||||||||
7900 | Profit before income tax | 801,342 | 16 | 799,200 | 25 | ||||||||||
7950 | Income tax expense | 6(23) | ( | 238,875) ( | 5) ( | 85,161) ( | 3) | ||||||||
8200 | Profit for the year | $ | 562,467 | 11 | $ | 714,039 | 22 | ||||||||
Other comprehensive income (loss) | |||||||||||||||
Components of other comprehensive | |||||||||||||||
income (loss) that will not be | |||||||||||||||
reclassified to profit or loss | |||||||||||||||
8311 | Actuarial gains on defined benefit | 6(12) | |||||||||||||
plans | $ | 59,522 | 1 | $ | 19,886 | 1 | |||||||||
8316 | Unrealised gains on financial assets | 6(5) | |||||||||||||
measured at fair value through other | |||||||||||||||
comprehensive income | 518 | - | 144,499 | 5 | |||||||||||
8330 | Share of other comprehensive loss of 6(6) | ||||||||||||||
associates and joint ventures | |||||||||||||||
accounted for using equity method | ( | 21,595) ( | 1) ( | 84,865) ( | 3) | ||||||||||
8349 | Income tax related to components of | 6(23) | |||||||||||||
other comprehensive income that | |||||||||||||||
will not be reclassified to profit or | |||||||||||||||
loss | ( | 11,904) | - | ( | 3,977) | - | |||||||||
Components of other comprehensive | |||||||||||||||
income (loss) that will be reclassified | |||||||||||||||
to profit or loss | |||||||||||||||
8361 | Financial statements translation | 6(6) | |||||||||||||
differences of foreign operations | 533,627 | 11 | ( | 85,879) ( | 3) | ||||||||||
8367 | Unrealised gains on valuation of | 6(5) | |||||||||||||
investments in debt instruments | |||||||||||||||
measured at fair value through other | |||||||||||||||
comprehensive income, net | - | - | 516 | - | |||||||||||
8300 | Other comprehensive income (loss) | ||||||||||||||
for the year | $ | 560,168 | 11 | ($ | 9,820) | - | |||||||||
8500 | Total comprehensive income for the | ||||||||||||||
year | $ | 1,122,635 | 22 | $ | 704,219 | 22 | |||||||||
Earnings per share (in dollars) | 6(24) | ||||||||||||||
9750 | Basic | $ | 1.14 | $ | 1.45 | ||||||||||
9850 | Diluted | $ | 1.14 | $ | 1.45 |
The accompanying notes are an integral part of these parent company only financial statements.
~8~
NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2024 AND 2023(Expressed in thousands of New Taiwan dollars)
Share Capital | Capital Surplus | Retained Earnings | Other Equity Interest | |||||||||||||||||||||||||||||||||||||
Unrealised gains | ||||||||||||||||||||||||||||||||||||||||
(losses) from | ||||||||||||||||||||||||||||||||||||||||
financial assets | ||||||||||||||||||||||||||||||||||||||||
Financial | measured at fair | |||||||||||||||||||||||||||||||||||||||
statements | value through | |||||||||||||||||||||||||||||||||||||||
Changes in | translation | other | ||||||||||||||||||||||||||||||||||||||
ownership interest | Unappropriated | differences of | comprehensive | |||||||||||||||||||||||||||||||||||||
Notes | Common stock | of subsidiaries | Legal reserve | Special reserve | retained earnings | foreign operations | income | Total equity | ||||||||||||||||||||||||||||||||
Year ended December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2023 | $ | 4,924,167 | $ | 28,939 | $ | 2,420,743 | $ | 433,442 | $ | 6,652,642 | ($ | 140,530 ) | $ | 104,163 | $ | 14,423,566 | ||||||||||||||||||||||||
Profit for the year | ||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 714,039 | - | - | 714,039 | |||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for 6(5)(6) | ||||||||||||||||||||||||||||||||||||||||
the year | - | - | - | - | 15,836 | ( | 85,879 ) | 60,223 | ( | 9,820 ) | ||||||||||||||||||||||||||||||
Total comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 729,875 | ( | 85,879 ) | 60,223 | 704,219 | ||||||||||||||||||||||||||||||||
Distribution of 2022 net income: | ||||||||||||||||||||||||||||||||||||||||
Legal reserve | - | - | 127,213 | - | ( | 127,213 ) | - | - | - | |||||||||||||||||||||||||||||||
Cash dividends | 6(15) | - | - | - | - | ( | 984,833 ) | - | - | ( | 984,833 ) | |||||||||||||||||||||||||||||
Balance at December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||
$ | 4,924,167 | $ | 28,939 | $ | 2,547,956 | $ | 433,442 | $ | 6,270,471 | ($ | 226,409 ) | $ | 164,386 | $ | 14,142,952 | |||||||||||||||||||||||||
Year ended December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2024 | $ | 4,924,167 | $ | 28,939 | $ | 2,547,956 | $ | 433,442 | $ | 6,270,471 | ($ | 226,409 ) | $ | 164,386 | $ | 14,142,952 | ||||||||||||||||||||||||
Profit for the year | ||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 562,467 | - | - | 562,467 | |||||||||||||||||||||||||||||||||
Other comprehensive income (loss) for 6(5)(6) | ||||||||||||||||||||||||||||||||||||||||
the year | - | - | - | - | 46,980 | 533,627 | ( | 20,439 ) | 560,168 | |||||||||||||||||||||||||||||||
Total comprehensive income (loss) | ||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 609,447 | 533,627 | ( | 20,439 ) | 1,122,635 | ||||||||||||||||||||||||||||||||
Distribution of 2023 net income: | ||||||||||||||||||||||||||||||||||||||||
Legal reserve | - | - | 72,987 | - | ( | 72,987 ) | - | - | - | |||||||||||||||||||||||||||||||
Cash dividends | 6(15) | - | - | - | - | ( | 492,417 ) | - | - | ( | 492,417 ) | |||||||||||||||||||||||||||||
Changes in equity of associates and | 6(6) | |||||||||||||||||||||||||||||||||||||||
joint ventures accounted for using | ||||||||||||||||||||||||||||||||||||||||
equity method | - | 265 | - | - | - | - | - | 265 | ||||||||||||||||||||||||||||||||
Balance at December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||
$ | 4,924,167 | $ | 29,204 | $ | 2,620,943 | $ | 433,442 | $ | 6,314,514 | $ | 307,218 | $ | 143,947 | $ | 14,773,435 | |||||||||||||||||||||||||
The accompanying notes are an integral part of these parent company only financial statements.
~9~
NANTEX INDUSTRY CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2024 AND 2023(Expressed in thousands of New Taiwan dollars)
Year ended December 31 | |||||||||
Notes | 2024 | 2023 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
Profit before tax | $ | 801,342 | $ | 799,200 | |||||
Adjustments | |||||||||
Adjustments to reconcile profit (loss) | |||||||||
Losses on valuation of financial assets at fair | 6(2)(19) | ||||||||
value through profit or loss | 120 | 900 | |||||||
(Reversal of) provision for inventory market | 6(4) | ||||||||
price decline | ( | 10,513 ) | 11,721 | ||||||
Loss on disposal of investment | 6(5)(19) | - | 1,057 | ||||||
Share of profit of subsidiaries, associates and | 6(6) | ||||||||
joint ventures accounted for under equity | |||||||||
method | ( | 656,092 ) | ( | 759,953 ) | |||||
Depreciation | 6(7)(8)(21) | 170,901 | 183,844 | ||||||
Gain from lease modification | 6(8)(19) | - | ( | 25 ) | |||||
Amortisation | 6(9)(21) | 160 | 190 | ||||||
Interest income | 6(17) | ( | 40,058 ) | ( | 75,429 ) | ||||
Dividend income | 6(18) | ( | 21,906 ) | ( | 3,400 ) | ||||
Interest expense | 6(20) | 3,640 | 2,955 | ||||||
Changes in operating assets and liabilities | |||||||||
Changes in operating assets | |||||||||
Notes receivable, net | ( | 1,200 ) | 2,195 | ||||||
Accounts receivable | ( | 256,397 ) | ( | 24,329 ) | |||||
Other receivables | ( | 30,932 ) | 16,040 | ||||||
Other receivables - related parties | - | 20,528 | |||||||
Inventories | ( | 179,469 ) | 123,927 | ||||||
Prepayments | ( | 71,441 ) | ( | 6,013 ) | |||||
Net defined benefit assets | ( | 32 ) | ( | 9,542 ) | |||||
Other non-current assets | ( | 2,663 ) | ( | 14,678 ) | |||||
Changes in operating liabilities | |||||||||
Current contract liabilities | ( | 2,379 ) | ( | 7,915 ) | |||||
Accounts payable | 145,718 | ( | 19,082 ) | ||||||
Other payables | 378 | ( | 83,823 ) | ||||||
Cash (outflow) inflow generated from | |||||||||
operations | ( | 150,823 ) | 158,368 | ||||||
Interest received | 40,058 | 75,429 | |||||||
Dividends received | 85,971 | 26,696 | |||||||
Interest paid | ( | 3,640 ) | ( | 2,955 ) | |||||
Income tax paid | ( | 71,321 ) | ( | 238,665 ) | |||||
Net cash flows (used in) from operating | |||||||||
activities | ( | 99,755 ) | 18,873 | ||||||
(Continued)
~10~