Contents - MiTAC

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B. Based on the resolution of the shareholders’ meeting on June 5, 2002, the Company issued 47,055 thousand new shares from the capitalization of retained earnings of $397,729 and employees’ bonus of $72,824. The Company completed the amendment procedures for registration in 2003. C. The exercise price of the Company’s stock option incentive plan was based on the market price of the Company’s common stock on the issuance date. The exercise price can be adjusted when the Company issues stock dividends or declares cash dividends after option granted. Options granted vest ratably over a four-years period and expire in six years. A summary of the activity under the Company’s stock option plans is set forth below: For the year ended December 31, 2003 For the year ended December 31, 2002 In thousands of shares Weighted average exercisable price (in NT dollars) - 61 - In thousands of shares Outstanding at the beginning of the year 99,000 $ 9.5 99,000 Option granted Stock dividends or adjustment of - - number of options - - Option exercised ( 14,813 ) 9.3 - Option confiscated Outstanding at the - - end of the year Exercisable options at 84,187 9.3 99,000 the end of the year Approved and not yet 34,687 - issued options at the end of the year - - Weighted average exercisable price (in NT dollars) $ 9.5 D. As of December 31, 2003, the summary of the outstanding stock option plan was as follows: Range of exercisable price (in NT dollars) Number of options outstanding at the end of the year Exercisable options at the end of the year In thousands of shares Expected weighted average residual years Weighted average exercise price (in NT dollars) In thousands of shares 9.5 Weighted average exercise price (in NT dollars) $ 9.3 84,187 3.75 $ 9.3 34,687 $ 9.3 14) CAPITAL RESERVE According to the R.O.C. Company Law, capital reserve shall be exclusively used to offset against accumulated deficit. However, capital reserve arising from paid-in capital in excess of par and donation can be used to increase capital after covering accumulated deficit. The capitalization of the paid-in capital in excess of par and donation is limited to 10% of the Company’s capital each year. 15) RETAINED EARNINGS A. Legal reserve In accordance with the Company Law and the Company's Articles of Incorporation, the annual net income should first be used to cover any accumulated deficit, thereafter, 10% of the remaining balance shall be set aside as legal reserve until the legal reserve equals the total paid in capital. The legal reserve shall only be used either to cover losses or to increase share capital.
B. Undistributed earnings (a) In accordance with the Company's Articles of Incorporation, the annual net income after transferring the gain on disposal of fixed assets to capital reserve, shall be first used to pay all taxes and dues, and offset prior operating losses, then 10% of the remaining balance, if any, shall be set aside as legal reserve. Additionally, the Company may also set aside a special reserve. The remaining net income after legal and special reserve plus the prior years' undistributed earnings shall be appropriated according to the resolution adopted by the Board of Director's and the annual Stockholders' meeting. At least 5% of net income, after deducting the appropriation for the legal reserve and dividend, shall be set aside for employees’ bonus. (b) The Company has not yet held the meeting of board of directors to discuss the earnings distribution proposal for the fiscal year 2003 by March 15, 2004; the related information can be obtained from the “Market Observation Post System” website of Taiwan Stock Exchange Corporation after the approval of the resolution adopted by the board of directors and shareholders. (c) The information on the 2002 earnings distribution for employees’ bonuses and directors’ and supervisors’ remuneration are as follows: Approved in the Stockholders Meeting (1) Distribution a. Employee cash bonuses b. Employee stock dividends (a) Shares (in thousands of shares) (b) Amount (c) Percentage of outstanding shares in 2002 c. Directors’ and supervisors’ remuneration (2) Information about earnings per share (in dollars) a. Original EPS b. Imputed EPS(Note) - 62 - $ 77,842 - $ - - $ 4,000 $ 0.84 $ 0.76 Note: Imputed EPS=(Net income-employees’ bonuses-directors’ and supervisors’ remunerations) /weighted average outstanding common shares for 2002. (d) The Company had resolved to distribute cash dividends $0.2 and $0.1 (in dollar) per share, and stock dividends $0 and $0.4 (in dollar) per share at 2003 and 2002’s meetings of board of shareholders. 16) TREASURY STOCK 2003 (in thousands of shares) Reason for reacquisition Beginning shares Addition Reduction Ending shares Transfer shares to employees 190 25,000 190 25,000 Company’s common shares held by 17,959 2,013 4,850 15,122 SSDL and its subsidiaries, TFC and So Fung Investment Co., Ltd. (Note) (Note) Note: The addition shares resulted from acquisitions by SSDL’s subsidiary for employee deferred compensation plan. However SSDL’s ownership of its subsidiary declining to below 50%, the shares are not belonging to treasury stock.
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 and 28: this platform are being aggressivel
Page 29 and 30: 1.3.2 Technologies and Products Suc
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: 11) OTHER LIABILITIES December 31,
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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