Contents - MiTAC

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From the foregoing, it can be seen that the richer multimedia environment, and more robust Internet connectivity and data transfer (between the phone and a PC) capabilities of Microsoft's operating systems, as well as the abundance of applications designed for them, make their market prospects extremely favorable. b. Competition among vendors Global shipments of PDAs declined for the eighth straight quarter, with the main reason being that consumers favor phones that incorporate task schedulers and phone books. Therefore, the value of traditional PDAs is seen as shrinking, placing constraints on their growth, and leading to the exit of many PDA vendors from the market. MiTAC's Mio 168 GPS is the world's first Microsoft OS -based handheld device, taking the PDA into the realm of mobile lifestyle applications. The Mio 168 has proved successful in developing this market, receiving favorable market response in Asia since its launch at the end of 2003 and setting new highs for shipments volumes. Looking to the future, in terms of product positioning, MiTAC will continue to follow the successful approach of the Mio 168 GPS, designing consumer-oriented devices to expand and cultivate this market. As for smart phones, though they remain a niche market, shipments are growing rapidly and they represent an enormous business opportunity. Currently, there are few Taiwanese brands for smart phones, but MiTAC has already introduced the Mio 8380 and 8390 in this segment, indicating its aggressive stance. Besides personal information management, the Mio 8380 and 8390 provide the capabilities that define a smart phone—the ability to send and receive e-mail, manage files, browse the Web, and take photographs with an integrated digital camera—making them highly suited for mobile business users. As for other major Taiwanese vendors, their second smart phone models will not appear on the domestic market until the first quarter of 2004 at the earliest. MiTAC's Microsoft OS-based smart phones and wireless PDAs have not only been adopted by major telecommunications network operators in Europe and Asia, but MiTAC's mobile data department is continually strengthening the company's competitive advantage through R&D innovation, manufacturing quality, and cost controls. It is focused on developing competitive products based on consideration of market trends, customer satisfaction, and creation of customer demand. Utilizing strategic alliances with major international vendors in the areas of software, hardware, and communications services, as well as continual product innovation, development of new markets, and winning of new orders, make MiTAC confident that smart phones will make a substantial contribution to the company's continuing growth. 1.3 Technology and R&D: 1.3.1 R&D Expenditures Item Year 2003 Units: Thousands of NT$ 2004 to March 31 (See note.) R&D Expenditures 1,110,001 264,755 Note: To the end of the last complete quarter prior to printing of this report. - 27 -
1.3.2 Technologies and Products Successfully Developed in the Last Year To keep abreast of global market trends for wireless communications, mobile communications, and networking products, ensure timely development of new technologies and products, and coordinate R&D resources in Taiwan, China, and the US to rapidly introduce technology products—this is MiTAC International's main R&D strategy. Adopting the product standards promoted by mainstream technology leaders such as Intel, Sun, and Microsoft, while developing exclusive technologies, and then launching product at an opportune time to meet market demand will allow MiTAC International to take advantage of business opportunities. Product diversification, comprehensive product lines, complete upstream and downstream supplier network, and globalized production infrastructure are our competitive strengths. (1) Key Results: A.Allied with world-leading vendors in servers, workstations, and storage equipment to develop and manufacture servers, workstations based on high-peformance processors, allowing MiTAC International to achieve a leading position in the professional server and workstation segment. B.Integrating software technologies such as Microsoft's wireless PDA capabilities, developed wireless networking products, while at the same time jointly developing products with world-class vendors for the PDA and Pocket PC segments. C.Took advantage of MiTAC International's development of globally integrated division of labor system, as well as its overall engineering, production, and distribution logistical capabilities. Worked with world-leading vendors to jointly develop leading-edge wireless networking and personal computer technologies. Became a key personal computer supplier for individual and home-use computers that integrate multiple capabilities such as video, audio, graphics, and wireless communications. (2) Products: A.Desktop Computers (a) Business and home PCs: Designed a series of computers with a basic architecure utilizing CPUs with the newest technologies, AGP graphics cards, 3D sound capabilities, wireless networking, and a system design providing superior heat dissipation. (b) Media center PC, home gateway server (c) Entry-level and midrange workstations: Single- and dual-processor Intel x86 processor-based. B.Server Product Series (a) Workstations and related products: Expanded cooperation with world-leading vendors to develop, design, manufacture, and market high-performance single- and multiple-processor workstations, becoming one of the few companies able to develop and provide both Unix and Windows workstations. (b)Servers: MiTAC International has accumulated many years of experience in developing multi-processor multi-function servers. In response to growing global market and strong demand for servers and data storage equipment, MiTAC International 's R&D team has created single-, dual- and quad-processor servers, utilizing high-density system integration technologies to develop ultra-dense servers. (c) Data Storage Devices: MiTAC International has responded to the increasing size of the data storage device market by devoting R&D teams to the development of data storage device technologies and products. (d) Blade Storage - 28 -
Page 1 and 2: Contents A.Report To Shareholders..
Page 3 and 4: Innovations in product R&D and work
Page 5 and 6: 4.Integrate Group resources, contin
Page 7 and 8: 1990 - In response to rapid busines
Page 9 and 10: MiTAC International's US subsidiary
Page 11 and 12: 2.1.2 Responsibilities of Major Dep
Page 13 and 14: Major Institutional Shareholders Ap
Page 15 and 16: Title Name Date Took Office Shares
Page 17 and 18: 3. Capital and Shares, Corporate Bo
Page 19 and 20: 3.5 Market Price, Net Value, Earnin
Page 21 and 22: 3.8 Treasury Stock Aapril 1, 2004 S
Page 23 and 24: 3.10 Employee Stock Options 3.10.1
Page 25 and 26: 1.1.3 New Products and Technologies
Page 27: this platform are being aggressivel
Page 31 and 32: 1.4.3. Wireless communications prod
Page 33 and 34: (3) Wireless Communications Product
Page 35 and 36: C.Expand development of high value-
Page 37 and 38: 2.3 Supply of Key Components Compon
Page 39 and 40: As a professional computer assembly
Page 41 and 42: 8. Acquisition or Disposition of As
Page 43 and 44: 1.2 Concise Profit/Loss Statment Un
Page 45 and 46: 2.1 Financial Structure (1) Debt ra
Page 47 and 48: MITAC INTERNATIONAL CORP. AND SUBSI
Page 53 and 54: combined total assets or operating
Page 55 and 56: 11) Deferred charges A. Telephone i
Page 57 and 58: 3) Mitac Precision Technology Co.,
Page 59 and 60: D. Tsu Fung Investment Corp. was no
Page 61 and 62: 11) OTHER LIABILITIES December 31,
Page 63 and 64: B. Undistributed earnings (a) In ac
Page 65 and 66: C. Components of deferred income ta
Page 67 and 68: 19) PERSONNEL EXPENSES, DEPRECIATIO
Page 69 and 70: E. Accounts payable December 31, 20
Page 71 and 72: 11. SPECIAL DISCLOSURE ITEMS A. Inf
Page 73 and 74: Investor Types Name of marketable s
Page 75 and 76: The company buying /selling product
Page 77 and 78: Item Sales of forward foreign excha
Page 79 and 80:
Investor Investee Company 〃 Proco
Page 81 and 82:
(4) The detail of marketable securi
Page 83 and 84:
(8) Purchases or sales transactions
Page 85 and 86:
C. Relevant Information Regarding I
Page 87 and 88:
The prices that the Company and thi
Page 89 and 90:
In order to reconcile the amounts o
Page 91 and 92:
2. Analysis of Business Results Yea
Page 93 and 94:
6. Risk Management 6.1 Influence of
Page 95 and 96:
6.5.2 Server Product Series: Due to
Page 97 and 98:
Item Status 3. Designation of super
Page 99 and 100:
1. Information on Affiliates 1.1 Co
Page 101 and 102:
1.1.2 Affiliated Companies—Basic
Page 103 and 104:
1.1.3 Business and Inter-Relationsh
Page 105 and 106:
1.1.4 Directors, Supervisors, Gener
Page 107 and 108:
Company Name Title Name or Represen
Page 109:
1.1.5 Operations Overview of Afflia
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