Walsin Lihwa Corporation
Parent Company Only Financial Statements for the Years Ended December 31, 2024 and 2023 and Independent Auditors' Report
The following are key audit matters of the Company's parent company only financial statements as of and for the year ended December 31, 2024:
Sales Revenue Recognition
In 2024, the sales revenue of the Company, a portion of whose main products relies on management's preparation of market price adjustment reports as the basis for revenue recognition, was significant to the net income for the year ended December 31, 2024. Therefore, the accuracy of this revenue was considered a key audit matter. Refer to Notes 4 and 22 to the parent company only financial statements for related accounting policies and disclosure of information relating to revenue recognition.
Our audit procedures performed in respect of the above key audit matter were as follows:
- We obtained an understanding of and tested the sales revenue recognition policy and internal control procedures over the sales and evaluated the effectiveness of relevant internal controls.
- We obtained the management reports for specific products, performed sampling and relevant audit procedures to verify that revenue transactions were accurately calculated. In addition, we confirmed that the recognized amounts were consistent with those recorded in the general ledger.
Emphasis of Matter
As disclosed in Note 13, the Company acquired 100% interest in Degerfors Long Products AB and Special Melted Products Ltd on August 1 and September 19, 2023, respectively. The purchase price allocation report was finalized in 2024. Therefore, the initial accounting treatment and provisionally determined amounts from the acquisition date were adjusted and retrospectively restated for comparative periods. Our audit opinion is not modified in respect of this matter.
Other Matter
The parent company only financial statements of certain equity-method investees included in the parent company only financial statements as of and for the years ended December 31, 2024 and 2023 were audited by other auditors. Our opinion, insofar as it relates to such investments, is based solely on the reports of other auditors. The investments in such investees amounted to NT$15,484,713 thousand and NT$14,300,700 thousand, which constituted 7.66% and 7.05% of the total assets as of December 31, 2024 and 2023, respectively. The aforementioned investment classified as other non-current liabilities were NT$604,877 thousand and NT$374,028 thousand, which constituted 0.30% and 0.18% of the total assets as of December 31, 2024 and 2023, respectively. The investment gains amounted to NT$158,365 thousand and NT$431,332 thousand for the years ended December 31, 2024 and 2023, respectively.
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.
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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 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 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 parent company only financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- 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.
- 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.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- 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.
- 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.
- Obtain sufficient and appropriate audit evidence regarding the financial information of 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.
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We communicate with those charged with governance 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 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 for the year ended December 31, 2024 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.
The engagement partners on the audit resulting in this independent auditors' report are Wen-Yea Shyu and Ker-Chang Wu.
Deloitte & Touche
Taipei, Taiwan
Republic of China
February 21, 2025
Notice to Readers
The accompanying parent company only financial statements are intended only to present the financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such parent company only financial statements are those generally applied in the Republic of China.
For the convenience of readers, the independent auditors' report and the accompanying parent company only financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' report and parent company only financial statements shall prevail.
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WALSIN LIHWA CORPORATION
PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023
(In Thousands of New Taiwan Dollars)
ASSETS | 2024 | 2023 (Restated) | |||||||||||
Amount | % | Amount | % | ||||||||||
CURRENT ASSETS | |||||||||||||
Cash and cash equivalents (Notes 4 and 6) | $ | 1,998,361 | 1 | $ | 3,530,594 | 2 | |||||||
Financial assets at fair value through profit or loss - current (Notes 4 and 7) | 9,006 | - | 1,499,047 | 1 | |||||||||
Contract assets - current (Notes 4 and 8) | 387,504 | - | 175,083 | - | |||||||||
Notes receivable (Notes 4, 9 and 30) | 14,805 | - | 15,863 | - | |||||||||
Trade receivables (Notes 4 and 9) | 2,412,917 | 1 | 2,119,899 | 1 | |||||||||
Trade receivables from related parties (Notes 4, 9 and 30) | 470,886 | - | 438,177 | - | |||||||||
Finance lease receivables (Notes 4, 10 and 30) | 9,355 | - | 9,068 | - | |||||||||
Other receivables (Note 30) | 1,154,826 | 1 | 1,720,601 | 1 | |||||||||
Inventories (Notes 4 and 11) | 11,294,554 | 6 | 11,120,657 | 5 | |||||||||
Other current assets (Notes 6, 17 and 31) | 510,523 | - | 314,635 | - | |||||||||
Total current assets | 18,262,737 | 9 | 20,943,624 | 10 | |||||||||
NON-CURRENT ASSETS | |||||||||||||
Financial assets at fair value through profit or loss - non-current (Notes 4 and 7) | - | - | 1,184,108 | 1 | |||||||||
Financial assets at fair value through other comprehensive income - non-current (Notes 4 and 12) | 18,474,885 | 9 | 18,635,179 | 9 | |||||||||
Investments accounted for using the equity method (Notes 4 and 13) | 132,959,770 | 66 | 130,785,812 | 65 | |||||||||
Property, plant and equipment (Notes 4 and 14) | 21,631,592 | 11 | 20,828,266 | 10 | |||||||||
Right-of-use assets (Notes 4 and 15) | 81,425 | - | 75,711 | - | |||||||||
Investment properties (Notes 4 and 16) | 8,029,197 | 4 | 8,099,078 | 4 | |||||||||
Deferred tax assets - non-current (Notes 4 and 24) | 997,322 | - | 680,501 | - | |||||||||
Refundable deposits (Notes 6, 29 and 31) | 26,427 | - | 25,700 | - | |||||||||
Finance lease receivables - non-current (Notes 4, 10 and 30) | 1,547,484 | 1 | 1,517,217 | 1 | |||||||||
Net defined benefit assets - non-current (Notes 4 and 20) | 20,113 | - | - | - | |||||||||
Other non-current assets (Notes 6, 17 and 31) | 5,881 | - | 34,394 | - | |||||||||
Total non-current assets | 183,774,096 | 91 | 181,865,966 | 90 | |||||||||
TOTAL | $ | 202,036,833 | 100 | $ | 202,809,590 | 100 | |||||||
LIABILITIES AND EQUITY | |||||||||||||
CURRENT LIABILITIES | |||||||||||||
Short-term borrowings (Note 18) | $ | 4,650,000 | 2 | $ | 504,234 | - | |||||||
Short-term notes and bills payable (Note 18) | 2,997,903 | 2 | - | - | |||||||||
Financial liabilities at fair value through profit or loss - current (Notes 4 and 7) | 303,362 | - | 44,519 | - | |||||||||
Trade payables (Note 30) | 3,094,389 | 2 | 3,648,025 | 2 | |||||||||
Other payables | 2,461,712 | 1 | 2,163,348 | 1 | |||||||||
Other payables to related parties (Note 30) | 115,348 | - | 3,308,150 | 2 | |||||||||
Current tax liabilities (Notes 4 and 24) | 884,000 | - | 1,361,449 | 1 | |||||||||
Lease liabilities - current (Notes 4 and 15) | 39,596 | - | 37,025 | - | |||||||||
Current portion of long-term borrowings (Note 18) | 3,725,077 | 2 | - | - | |||||||||
Other current liabilities | 734,961 | - | 407,295 | - | |||||||||
Total current liabilities | 19,006,348 | 9 | 11,474,045 | 6 | |||||||||
NON-CURRENT LIABILITIES | |||||||||||||
Bonds payable (Note 19) | 12,800,000 | 6 | 12,800,000 | 6 | |||||||||
Long-term borrowings (Note 18) | 25,151,278 | 13 | 26,446,398 | 13 | |||||||||
Long-term notes and bills payable (Note 18) | - | - | 2,998,822 | 2 | |||||||||
Deferred tax liabilities (Notes 4 and 24) | 5,328,284 | 3 | 5,974,347 | 3 | |||||||||
Lease liabilities - non-current (Notes 4 and 15) | 1,701,314 | 1 | 1,675,034 | 1 | |||||||||
Net defined benefit liabilities - non-current (Notes 4 and 20) | - | - | 137,005 | - | |||||||||
Other non-current liabilities (Notes 27 and 30) | 794,415 | - | 549,116 | - | |||||||||
Total non-current liabilities | 45,775,291 | 23 | 50,580,722 | 25 | |||||||||
Total liabilities | 64,781,639 | 32 | 62,054,767 | 31 | |||||||||
EQUITY (Note 21) | |||||||||||||
Share capital | 40,313,329 | 20 | 40,313,329 | 20 | |||||||||
Capital surplus | 33,592,347 | 17 | 33,624,917 | 16 | |||||||||
Retained earnings | |||||||||||||
Legal reserve | 10,065,084 | 5 | 9,538,222 | 5 | |||||||||
Special reserve | 2,712,250 | 1 | 2,712,250 | 1 | |||||||||
Unappropriated earnings | 46,182,358 | 23 | 48,285,234 | 24 | |||||||||
Total retained earnings | 58,959,692 | 29 | 60,535,706 | 30 | |||||||||
Other equity | |||||||||||||
Exchange differences on translation of the financial statements of foreign operations | (349,726) | - | (4,948,056) | (3) | |||||||||
Unrealized gain on financial assets at fair value through other comprehensive income | 8,058,069 | 4 | 14,068,677 | 7 | |||||||||
Loss on hedging instruments | (83,438) | - | (65,100) | - | |||||||||
Other equity - other | (3,235,079) | (2) | (2,774,650) | (1) | |||||||||
Total other equity | 4,389,826 | 2 | 6,280,871 | 3 | |||||||||
Total equity | 137,255,194 | 68 | 140,754,823 | 69 | |||||||||
TOTAL | $ | 202,036,833 | 100 | $ | 202,809,590 | 100 | |||||||
The accompanying notes are an integral part of the parent company only financial statements. (With Deloitte & Touche auditors' report dated February 21, 2025)
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WALSIN LIHWA CORPORATION
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023
(In Thousands of New Taiwan Dollars, Except Earnings Per Share)
2024 | 2023 (Restated) | ||||||||||
Amount | % | Amount | % | ||||||||
OPERATING REVENUE (Notes 4 and 22) | $ 87,379,254 | 100 | $ 83,321,352 | 100 | |||||||
OPERATING COSTS (Note 11) | (79,789,633) | (91) | (76,550,777) | (92) | |||||||
REALIZED (UNREALIZED) GAIN | 15,192 | - | (11,785) | - | |||||||
GROSS PROFIT | 7,604,813 | 9 | 6,758,790 | 8 | |||||||
OPERATING EXPENSES | |||||||||||
Selling and marketing expenses | 1,053,311 | 1 | 845,777 | 1 | |||||||
General and administrative expenses | 1,558,338 | 2 | 1,659,411 | 2 | |||||||
Research and development expenses | 372,155 | 1 | 211,655 | - | |||||||
Total operating expenses | 2,983,804 | 4 | 2,716,843 | 3 | |||||||
PROFIT FROM OPERATIONS | 4,621,009 | 5 | 4,041,947 | 5 | |||||||
NON-OPERATING INCOME AND EXPENSES | |||||||||||
Interest income | 141,456 | - | 254,125 | - | |||||||
Dividend income | 625,351 | 1 | 510,707 | 1 | |||||||
Other income - other | 307,415 | 1 | 58,360 | - | |||||||
(Loss) gain on disposal of property, plant and | |||||||||||
equipment | (3,460) | - | 430 | - | |||||||
Gain on disposal of investments (Note 23) | 1,081,687 | 1 | 1,085,948 | 1 | |||||||
Foreign exchange gain, net | 224,375 | - | 102,135 | - | |||||||
(Loss) gain on valuation of financial assets and | |||||||||||
liabilities at fair value through profit or loss | (1,469,561) | (2) | 122,354 | - | |||||||
Other expenses | (237,009) | - | (76,810) | - | |||||||
Interest expense | (903,321) | (1) | (806,443) | (1) | |||||||
Share of (loss) profit of subsidiaries and associates | |||||||||||
accounted for using the equity method | (1,176,900) | (1) | 1,604,219 | 2 | |||||||
Total non-operating income and expenses | (1,409,967) | (1) | 2,855,025 | 3 | |||||||
PROFIT BEFORE INCOME TAX FROM | |||||||||||
CONTINUING OPERATIONS | 3,211,042 | 4 | 6,896,972 | 8 | |||||||
INCOME TAX EXPENSE (Notes 4 and 24) | (420,988) | (1) | (1,817,567) | (2) | |||||||
NET PROFIT FOR THE YEAR | 2,790,054 | 3 | 5,079,405 | 6 | |||||||
(Continued) |
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WALSIN LIHWA CORPORATION
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023
(In Thousands of New Taiwan Dollars, Except Earnings Per Share)
2024 | 2023 (Restated) | |||||||||||||
Amount | % | Amount | % | |||||||||||
OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||
Items that will not be reclassified subsequently to | ||||||||||||||
profit or loss: | ||||||||||||||
Remeasurement of defined benefit plans (Notes 4 | ||||||||||||||
and 20) | $ | 98,718 | - | $ | (34,728) | - | ||||||||
Unrealized (loss) gain on investments in equity | ||||||||||||||
instruments at fair value through other | ||||||||||||||
comprehensive income | (109,291) | - | 6,254,992 | 7 | ||||||||||
Share of the other comprehensive (loss) income of | ||||||||||||||
associates accounted for using the equity | ||||||||||||||
method | (5,803,477) | (6) | 1,288,838 | 2 | ||||||||||
Items that may be reclassified subsequently to profit | (5,814,050) | (6) | 7,509,102 | 9 | ||||||||||
or loss: | ||||||||||||||
Exchange differences on translating the financial | ||||||||||||||
statements of foreign operations | 4,250,924 | 5 | (643,291) | (1) | ||||||||||
Share of other comprehensive income (loss) of | ||||||||||||||
associates accounted for using the equity | ||||||||||||||
method | 329,069 | - | (7,290) | - | ||||||||||
4,579,993 | 5 | (650,581) | (1) | |||||||||||
Other comprehensive (loss) income for the year, | ||||||||||||||
net of income tax | (1,234,057) | (1) | 6,858,521 | 8 | ||||||||||
TOTAL COMPREHENSIVE INCOME FOR THE | ||||||||||||||
$ 1,555,997 | 2 | $ 11,937,926 | 14 | |||||||||||
YEAR | ||||||||||||||
EARNINGS PER SHARE (Note 25) | ||||||||||||||
Basic | $ | 0.69 | $ | 1.31 | ||||||||||
Diluted | $ | 0.69 | $ | 1.31 |
The accompanying notes are an integral part of the parent company only financial statements.
(With Deloitte & Touche auditors' report dated February 21, 2025) | (Concluded) |
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WALSIN LIHWA CORPORATION
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023
(In Thousands of New Taiwan Dollars)
Other Equity | ||||||||||
Unrealized Valuation | ||||||||||
Exchange Differences | Gain (Loss) on | |||||||||
Financial Assets at | ||||||||||
Retained Earnings | on Translating the | Fair Value through | ||||||||
Unappropriated | Financial Statements | Other Comprehensive | Loss on Hedging | |||||||
Share Capital | Capital Surplus | Legal Reserve | Special Reserve | Earnings | of Foreign Operations | Income | Instrument | Others | Total Equity |
BALANCE AT JANUARY 1, 2023 | $ | 37,313,329 | $ | 24,672,454 | $ | 7,564,090 | $ | 2,712,250 | |||
Appropriation of 2022 earnings (Note 21) | |||||||||||
Legal reserve | - | - | 1,974,132 | - | |||||||
Cash dividends distributed by WLC | - | - | - | - | |||||||
Changes in capital surplus from investments in associates accounted for | |||||||||||
using the equity method | - | (6,932) | - | - | |||||||
Change in ownership interests in subsidiaries | - | 26,730 | - | - | |||||||
Issuance of ordinary shares for cash | 3,000,000 | 8,923,497 | - | - | |||||||
Net profit for the year ended December 31, 2023 | - | - | - | - | |||||||
Other comprehensive (loss) income for the year ended December 31, 2023, | |||||||||||
net of income tax | - | - | - | - | |||||||
Total comprehensive income (loss) for the year ended December 31, 2023 | - | - | - | - | |||||||
Others | - | 9,168 | - | - | |||||||
BALANCE AT DECEMBER 31, 2023 (AS RESTATED) | 40,313,329 | 33,624,917 | 9,538,222 | 2,712,250 | |||||||
Appropriation of 2023 earnings (Note 21) | |||||||||||
Legal reserve | - | - | 526,862 | - | |||||||
Cash dividends distributed by WLC | - | - | - | - | |||||||
Changes in capital surplus from investments in associates accounted for | |||||||||||
using the equity method | - | (5,294) | - | - | |||||||
Change in ownership interests in subsidiaries | - | (26,730) | - | - | |||||||
Net profit for the year ended December 31, 2024 | - | - | - | - | |||||||
Other comprehensive income (loss) for the year ended December 31, 2024, | |||||||||||
net of income tax | - | - | - | - | |||||||
Total comprehensive income (loss) for the year ended December 31, 2024 | - | - | - | - | |||||||
Others | - | (546) | - | - | |||||||
BALANCE AT DECEMBER 31, 2024 | $ | 40,313,329 | $ | 33,592,347 | $ | 10,065,084 | $ | 2,712,250 |
$ | 51,762,058 | $ | (4,256,774) | $ | 6,693,877 | $ | (105,801) | $ | (2,774,607) | $ | 123,580,876 | ||||||
(1,974,132) | - | - | - | - | - | ||||||||||||
(6,716,399) | - | - | - | - | (6,716,399) | ||||||||||||
204,652 | - | (204,652) | - | - | (6,932) | ||||||||||||
- | - | - | - | - | 26,730 | ||||||||||||
- | - | - | - | - | 11,923,497 | ||||||||||||
5,079,405 | - | - | - | - | 5,079,405 | ||||||||||||
(70,350) | (691,282) | 7,579,452 | 40,701 | - | 6,858,521 | ||||||||||||
5,009,055 | (691,282) | 7,579,452 | 40,701 | - | 11,937,926 | ||||||||||||
- | - | - | - | (43) | 9,125 | ||||||||||||
48,285,234 | (4,948,056) | 14,068,677 | (65,100) | (2,774,650) | 140,754,823 | ||||||||||||
(526,862) | - | - | - | - | - | ||||||||||||
(4,434,466) | - | - | - | - | (4,434,466) | ||||||||||||
74,880 | - | (74,880) | - | - | (5,294) | ||||||||||||
(128,161) | - | - | - | (460,429) | (615,320) | ||||||||||||
2,790,054 | - | - | - | - | 2,790,054 | ||||||||||||
121,679 | 4,598,330 | (5,935,728) | (18,338) | - | (1,234,057) | ||||||||||||
2,911,733 | 4,598,330 | (5,935,728) | (18,338) | - | 1,555,997 | ||||||||||||
- | - | - | - | - | (546) | ||||||||||||
$ | 46,182,358 | $ | (349,726) | $ | 8,058,069 | $ | (83,438) | $ | (3,235,079) | $ | 137,255,194 | ||||||
The accompanying notes are an integral part of the parent company only financial statements.
(With Deloitte & Touche auditors' report dated February 21, 2025)
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WALSIN LIHWA CORPORATION
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 (In Thousands of New Taiwan Dollars)
2024 | 2023 (Restated) | ||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||
Income before income tax | $ 3,211,042 | $ 6,896,972 | |||
Adjustments for: | |||||
Depreciation expenses | 1,477,294 | 1,408,723 | |||
Amortization expenses | 16,440 | 28,191 | |||
Expected credit loss recognized on trade receivables | 737 | - | |||
Net loss (gain) on fair value changes of financial assets and | |||||
liabilities at fair value through profit or loss | 1,469,561 | (122,354) | |||
Interest expenses | 903,321 | 806,443 | |||
Interest income | (141,456) | (254,125) | |||
Dividend income | (625,351) | (510,707) | |||
Share of loss (profit) of subsidiaries and associates accounted for | |||||
using the equity method | 1,176,900 | (1,604,219) | |||
Loss (gain) on disposal of property, plant and equipment | 3,460 | (430) | |||
Gain on disposal of investments | (1,081,687) | (1,085,948) | |||
(Realized) unrealized gain on the transaction with associates | (15,192) | 11,785 | |||
Unrealized (gain) loss on foreign currency exchange | (115,234) | 424 | |||
Loss on lease modification | - | 8 | |||
Changes in operating assets and liabilities | |||||
Decrease in financial assets mandatorily classified as at fair value | |||||
through profit or loss | 742,080 | 1,084,190 | |||
(Increase) decrease in contract assets | (212,421) | 92,064 | |||
Decrease in notes receivable | 1,058 | 9,195 | |||
(Increase) decrease in trade receivables | (326,464) | 1,390,043 | |||
(Increase) decrease in other receivables | (320,755) | 694,938 | |||
(Increase) decrease in inventories | (173,897) | 698,431 | |||
(Increase) decrease in other current assets | (161,532) | 1,427,973 | |||
(Increase) decrease in other financial assets | (3,189) | 280,997 | |||
Decrease (increase) in other operating assets | 12,073 | (2) | |||
(Decrease) increase in trade payables | (553,636) | 421,481 | |||
Increase (decrease) in other payables | 151,523 | (866,064) | |||
Increase in other current liabilities | 342,858 | 167,594 | |||
Decrease in net defined benefit liabilities | (58,400) | (45,143) | |||
Increase (decrease) in other operating liabilities | 10,469 | (766) | |||
Cash generated from operations | 5,729,602 | 10,929,694 | |||
Interest received | 92,699 | 232,104 | |||
Dividends received | 3,196,318 | 1,874,051 | |||
Interest paid | (849,020) | (706,048) | |||
Income tax paid | (1,892,488) | (1,349,412) | |||
Net cash generated from operating activities | 6,277,111 | 10,980,389 | |||
(Continued) |
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