1999 Annual Report - Delta Electronics

DELTA ELECTRONICS, INC.
Annual Report
Annual Report
DELTA ELECTRONICS, INC.

1 1999 Annual Report
Table of Contents
Financial Highlights 2
Message from the Chairman 3
Strategy 5
Major Products 7
Research and Development 9
Manufacturing and Plant Automation 11
Quality Management 13
Logistics and Services 15
Financial Statements 17
Corporate Information 61
Financial Highlights
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Operating Revenues
Return on Stockholders' Equity
30
25
20
15
10
5
0
12,620
1995 1996 1997 1998 1999
26.0%
16,528
23.9%
20,750
24.9%
26,136
18.0%
39,669
21.7%
1995 1996 1997 1998 1999
6
5
4
3
2
1
0
Earnings Per Share
4.34
4,000
3,500
3,000
2,500
2000
1,500
1,000
4.17
500
0
5.19
1,292
4.03
5.12
1995 1996 1997 1998 1999
Net Profits
1,512
2,306
2,235
3,648
1995 1996 1997 1998 1999
1999 Annual Report
2

3 1999 Annual Report
Message from the Chairman
Dear Shareholder:
The earthquake on Sep. 21, 1999, was a big shakeup for all the
Taiwanese, but Taiwan is walking out of the trauma and on the
road to recovery. With mixed feelings, we announce that 1999
was a good year for your Company. Revenues rose 52% to NT$
39.6 billion. Net earnings increased 61% to NT$ 3.6 billion.
Earnings per share grew 27% to NT$5.12. Operating margins
rose to 9%, up a full point from 8% in 1998.
Delta has one of the strongest balance sheets in the industry due to
years of successful operations and our prudent attitude toward
financial leverage. Our sustainable revenues increase can mainly
be attributed to strong growth in sales of new-generation principal
products and new products. On the other hand, we are always
proud of our commitment to product research and development.
Our research and development expenditures were a record NT$1.85 billion in 1999, a
46% increase over 1998, and represented 5% of net revenues.
We began the new millennium with a new president, James K.M. Ng, who is a highly
regarded international business manager and has been the president of Delta Thailand
for the last decade with outstanding track record. To strengthen our position in the
marketplace, we regrouped our activities for higher efficiency, improved
communication, and better performance. Our power related Business Units, i.e., Power
Supply, UPS and Telecom Power, and ODM, are now merged into Power System
Business Group. Our Components business was also upgraded to Components Business
Group.
The improved efficiency and added production capacity of the three new Dongguan
plants allow us to fill customer orders with more flexibility and customer satisfaction.
In addition, we recently decided to further invest in Wujiang (Jiangsu Province) for
setting up a new manufacturing base. On the other hand, we came through the Y2K
rollover with no significant problems. Our SAP ERP system will complete its
worldwide linkage this year. Our goal is to make Delta a "best-in-class" company.
As to our strategic investments, Cyntec Co., Ltd., a subsidiary that provides highprecision,
thin film passive components, reported significant growth in both sales
revenues and net profits in 1999. Delta Networks Inc, the networking product
subsidiary, for its first year of operation reported NT$4.3 billion net revenues. Delta
Optoelectronics, Inc. was established in last December for advanced display
development using polymer light emission display (PLED) and carbon nano-tube
electron emitter (CNT) technologies. Entering the e-Commerce era, Delta is also
exploring the Internet related business opportunities-such as ICP, broad band and ASP.
We move into 2000 with high expectations and great confidence that we have the right
initiatives, the right culture and the right leadership to seize the ample opportunities the
fast-changing world offers to us. We remain committed to our objectives of 30%
revenues growth, positive cash flow, and over 20% return on equity. All in all, we
believe that Delta is strategically well positioned to address the changing needs of the
new century.
Finally, I want to thank all our employees for their hard work. Without their dedication,
we would not be able to achieve last year's growth rate of 52%.
Above all, we are most grateful for your continued support to Delta. We are fully aware
it is your trust in us that drives the Company forward.
Sincerely yours,
Bruce C.H.Cheng
Chairman & CEO
1999 Annual Report
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5 1999 Annual Report
Strategy
The strategy of Delta can be abbreviated as TOPS which consists of the following four
major elements:
Telecom/Datacom focus Telecommunication and data communication are gradually
becoming an indispensable part of everyday life, and the associated business potential is
self-evident. Delta is committed to play an important role and capture the business
opportunity in communications industries as a key components and systems supplier.
Delta already has such products for telecom/datacom industries as chip inductors for
cellular phones and cordless phones, active GPS antenna, GPS receiver module,
RF/microwave products, VCO (voltage controlled oscillator), base station telecom rack
power, and networking products such as routers and LAN components. Moreover,
Delta has recently established ventures in developing fiber optical transceivers and other
passive components for cellular phones.
Outsourcing business It is well recognized that the demand for electronics
manufacturing services (EMS) will increase significantly. In today's highly competitive
marketplace, it is crucial for companies to focus on their core competencies for the
highest added value, and subsequently out-source the remaining business systems
components to external credible players. According to recent statistics, the value for
EMS is expected to grow 40-60% for the next few years, on top of over 30% growth in
the past 5 years.
Delta is well regarded in the electronics OEM/ODM business. We have devoted
significant resources and accumulated experiences to increase manufacturing flexibility,
construct global logistics networks, assure quality standards, and continue to reduce
manufacturing costs as well as turn-around time to ensure that Delta has the capability
to provide high performance contract manufacturing services. In addition, Delta has 8
plants with more than 1.8 million square feet manufacturing space to meet the everincreasing
demand for EMS.
Product development It is no doubt that product research and development
contributes significantly to the continuous success of Delta. The essence of product
development in Delta encompasses a wide spectrum of activities from material research,
new product development, product performance improvement, cost reduction to
manufacturing process redesign. In-time input from customers is critical to ensure the
success of product development, and as a result, customer participation is evidenced
through most of the R&D processes.
The whole notion of Delta's restless efforts on product development centers on the
mission of bringing better products at lower prices to meet today and tomorrow's
customer needs. In 1999, Delta spent NT$ 1.9 billion, or US$ 60 million, on R&D
activities, up from NT$ 1.3 billion, or US$ 43 million, in 1998. Delta believes that the
importance of product development will continue to increase, and we are committed to
serving customer needs through top-notch R&D efforts.
Strategic investment While Delta had relied on internal growth for business
expansion in the past, we realized that strategic investment is as essential as organic
growth to beat today's competitive environment. Successful strategic investment not
only brings in complementary skills, but also helps to strengthen core competencies and
feed new ideas to the current organization.
As of the end of 1999, Delta's investment portfolio consists of 35 companies with
market value of above NT$ 12 billion, or approximately US$ 400 million. The income
from investments contributed 21% of the per share earnings in 1999, and the
contribution from strategic investment is expected to increase in 2000.
Implementing TOPS strategy through committed management, we believe that Delta
will continue to enjoy unparalleled success in the future.
1999 Annual Report
6

7 1999 Annual Report
Major Products
Standard SPS
Server/Workstation SPS
Networking SPS
Distributed SPS
DC/DC Converter
Voltage Regulation Module
UPS
Rack-Mounted UPS
Power Image Presentation (Display) Components
Networking Products Sub-System Products
Mainstation,
BSC, BTS
Adapter
Charger
AC Motor Drive
Hi-Resolution
Color Monitor
Internet Display
LCD Projector
Stereoscopic-3D Display
LCCS Display
Magnetics
Spindle Motor
GPS
Receiver
Module
Voltage
Controlled Oscillator
DC-Fan & CPU Cooling System
Ballast
GPS
Antenna
EMI Filter
Networking
Components
Chip
Inductor
Battery Pack
Chassis Based Switch
Stackable Switch
Gigabit Intelligent Switch
16-Port Gigabit Uplink Switch
ADSL Router
(Above products are supplied
by our subsidiary DNI)
DVD-ROM
CD-RW
CD-R
CD-ROM
Disk Array
(Custom Design)
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9 1999 Annual Report
Research and Development
Delta boasts 1,100-plus experienced
product/system design engineers around the
globe. The group provides across-the-board
design and support to customers who need the
latest and most efficient power system
solution that will meet their end product
requirements. Our product/system designs are
particularly favored for high reliability
required applications, such as computer
system, networking and communication
equipment.
Our design engineering teams are located at all manufacturing sites as well as in the U.S.,
Europe and Asia allowing us to work closely with our customers' technical systems
teams. The Delta engineers are well versed in the design of both standard and custom
products/systems.
Delta's extensive background in design, development, and manufacturing of key
components for computer, communications, projection display and networking products
gives us a high degree of vertical integration and know-how in the critical areas of new
product design. Delta also has established key
partnerships with leading semiconductor companies to
develop new ASIC technologies thereby improving
quality while at the same time reducing both
components count and cost.
Our engineering group is equipped with fully
computerized design tools, such as CAD/CAE and
automatic testing equipment, to greatly enhance the
effectiveness and efficiency in the product
development phase. Beginning at the design stage,
our Quality Engineering Lab conducts concurrent
testing to ensure product reliability with
sophisticated electrical, mechanical, and environmental test equipment.
Delta devotes 5% of its sales revenues each year into R&D and currently has 11 R&D
centers worldwide. For instance, established in 1989, Delta's Power Electronics
Research Lab, located in North Carolina, USA, is continuously researching and creating
new technologies for practical power supply applications. With this group of highcaliber
scientists and professionals, one can be sure that Delta is constantly looking after
and ahead of its customer requirements, as well as the market's requirement of
information technology, telecommunication and networking systems.
10
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11 1999 Annual Report
Manufacturing and Plant Automation
Delta owns the largest manufacturing capacity of all power supply manufacturers in the
world today. With capacity of over 5 million power supplies, AC/DC adapters and
battery chargers per month, it readily meets the growing and/or changing demands of
the industry. Together with its affiliated companies, Delta has established
manufacturing presence in all key regions of the world including Taiwan, Thailand,
China, Mexico and Scotland. The global
customers now can take advantage of the
geographical convenience that the regional
manufacturing and warehousing facilities of
Delta and its affiliates offer to them.
Customers and industry observers are amazed
at how Delta keeps its manufacturing abreast
with the over 30% annual business growth.
Besides continuing to explore and invest in
Delta deploys a high degree of automation in its
production process. A team of 50 manufacturing
automation professionals is dedicated to the
design and development of automated
manufacturing equipment for our operations
worldwide. This allows us to build products with
a high degree of accuracy and efficiency, as well
as lower manufacturing cost.
new manufacturing bases to meet the ever-increasing
market demand, we have devoted much of our effort
in training and developing our knowledge and
production line workers. Every employee at the manufacturing site receives at least 100
hours of training per year. We believe that well-trained personnel, as well as continuous
process improvement, is crucial to a successful operation.
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1999 Annual Report

13 1999 Annual Report
Quality Management
Quality is the backbone of Delta's success. We are continuously introducing high
quality, lower cost product solutions to the technology industries. Our philosophy is
that quality does not add cost to a product/system but reduces overall cost-of-ownership.
Doing things right the first time reduces rework, scrap, and failures at the customer site.
Starting from the design stage our quality engineers and manufacturing engineers are
deeply involved in evaluating the quality, reliability and manufacturing feasibility of the
products developed. Reliability tests are strictly conducted to ensure satisfactory
performance throughout the product life. At the production stage, higher quality levels
are continuously achieved through process improvement using statistical process control
(SPC) and total quality control (TQC) techniques. With in-line SPC, all test data are
analyzed with computerized programs on a real-time basis.
Our dedication to on-going quality improvement gives customers the confidence that
they are buying products that have the best reliability in the industry. Our plants are
ISO-9001 and/or 14001 approved and share a common quality and measurement
system. That allows us to manufacture products at different locations while maintaining
our high quality standards.
Delta recognizes that quality is not only
the result of the design but of the overall
company operations. The stringent selfset
quality standards have led Delta to
become a preferred supplier to the topnotch
companies around the world. Our
key customers include Compaq, Dell,
Hewlett Packard, Gateway, IBM, NEC,
Fujitsu, and many more.
1999 HP
1999 DELL
1998 INTEL 1998 GE
1999 BLACK & DECKER
1999 GATEWAY
1999 FUJITSU
1998 VIEWSONIC
14
1999 Annual Report

17 1999 Annual Report
Financial Statements
February 23, 2000
(00)R.D24P.4066
To the Board of Directors of
Delta Electronics, Inc.
We have examined the consolidated balance sheet of Delta Electronics, Inc. as of
December 31, 1999 and 1998, and the related consolidated statements of income, of
changes in stockholders' equity and of cash flows for the years then ended. These
consolidated financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based on our
audits. We did not examine the 1999 and 1998 consolidated financial statements of
Delta International Holding Ltd., consolidated subsidiary, which statements reflect total
consolidated assets of $21,093,278,000 and $11,867,260,000, constituting 61% and
52%, respectively, and consolidated operating revenues of $32,199,851,000 and
$18,592,829,000, constituting 81% and 71%, respectively, of the related consolidated
totals. The consolidated financial statements were examined by other auditors whose
reports thereon have been furnished to us. In addition, as explained in Note 4(4), the
financial statements of certain investee companies for the years ended December 31,
1999 and 1998, accounted for under the equity method, were examined by other
auditors whose reports thereon have been furnished to us. The total amount of longterm
investments in these investee companies at December 31, 1999 and 1998 was
$309,216,000 and $500,595,000, respectively, and the related investment income for the
years then ended were $163,553,000 and $22,524,000, respectively. Our opinion
expressed herein, insofar as it relates to the amounts included in the financial statements
relative to this consolidated subsidiary and long-term investments, is based solely on the
reports of the other auditors. Information of certain investee companies disclosed in
Note 12 were based on the reports of the other auditors.
We conducted our audits in accordance with the "Rules Governing Examinations of
Financial Statements by Certified Public Accountants" and generally accepted auditing
standards in the Republic of China. Those standards require that we plan and perform
the audits to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our audits and
the reports of other auditors provide a reasonable basis for our opinion.
In our opinion, based on our examinations and the reports of other auditors, the
consolidated financial statements referred to above present fairly the financial position
of Delta Electronics, Inc. and its consolidated subsidiaries, Delta International Holding
Ltd., and Delta Networks, Inc. as of December 31, 1999 and 1998, and the results of
their operations and their cash flows for the years then ended, in conformity with the
''Rules Governing Preparation of the Financial Statements of Securities Issuers" and
generally accepted accounting principles in the Republic of China.
As indicated in Note 2, the accompanying financial statements are not intended to
present the financial position and results of operations and cash flows in accordance
with accounting principles and practices generally accepted in countries and
jurisdictions other than the Republic of China. The standards, procedures and practices
utilized in the Republic of China to audit such consolidated financial statements may
differ from those generally accepted in countries and jurisdictions other than the
Republic of China.
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1999 Annual Report

19
DELTA ELECTRONICS, INC.
CONSOLIDATED BALANCE SHEET
DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
1999 1998 1999 1998
Amount % Amount % Amount % Amount %
ASSETS
(Restated) LIABILITIES AND STOCKHOLDERS' EQUITY (Restated)
Current Assets Current Liabilities
Cash and cash equivalents (Note 4(1)) $ 3,449,843 10 $ 2,563,752 11 Short-term loans (Notes 4(6) and 6) $ 734,514 2 $ 217,408 1
Notes receivable - net 253,111 1 184,260 1 Accounts payable 7,543,044 22 4,004,185 18
Accounts receivable - net (Note 4(2)) 9,083,065 26 5,587,106 24 Accounts payable - related parties (Note 5) 360,205 1 84,814 -
Accounts receivable - related parties (Note 5) 1,093,710 3 989,510 4 Income tax payable (Note 4(15)) 29,136 - - -
Other receivables (Note 4(15)) 254,367 1 235,322 1 Accrued expenses 1,275,076 4 1,108,430 5
Other receivables - related parties (Note 5) 128,896 - 141,986 1 Other payables 299,430 1 167,190 1
Inventories (Note 4(3)) 4,881,508 14 2,775,310 12 Received in advance 185,269 1 88,430 -
Prepaid expenses 16,664 - 11,611 - Current portion of long-term loans (Notes 4(8) and 6) 4,636 - 6,182 -
Prepayments 29,994 - 46,285 - Other current liabilities 146,513 - 35,740 -
Other current assets (Notes 4(15) and 6) 602,228 2 410,387 2 10,577,823 31 5,712,379 25
19,793,386 57 12,945,529 56 Long-term Liabilities
Funds and Long-term Investments
Convertible bonds (Note 4(7)) 179,146 - 1,674,588 7
Long-term investments (Note 4(4)) 6,374,961 19 4,038,299 18 Long-term loan (Notes 4(8) and 6) - - 4,636 -
Cash surrender value of life insurance 56,064 - 49,938 - 179,146 - 1,679,224 7
Prepayment for long-term investments - - 20,000 -
6,431,025 19 4,108,237 18 Reserve
Property, Plant and Equipment (Notes 4(5) and 6)
Reserve for land value incremental tax (Note 4(5)) 97,283 - 107,740 1
Cost
Land 1,052,299 3 652,003 3 Other Liabilities
Buildings and equipment 2,694,928 8 1,213,849 5 Reserve for retirement plan (Note 4(9)) 415,312 1 304,176 1
Machinery and equipment 4,023,366 12 2,591,881 11 Deposits-in 1,512 - 10,246 -
Molds 332,418 1 218,174 1 Deferred income tax liabilities (Note 4(15)) 2,138,365 6 1,389,625 6
Computer and communication equipment 292,490 1 168,460 1 Other liabilities others 883,339 3 443,427 2
Test equipment 705,686 2 577,132 3 3,438,528 10 2,147,474 9
Motor vehicles 55,984 - 52,540 - Total Liabilities 14,292,780 41 9,646,817 42
Furniture and fixtures 337,846 1 296,971 1
Leasehold improvements 16,361 - 45,447 - Stockholders' Equity
Land value appraisal increment 202,231 - 222,454 1 Common stock (Notes 1 and 4(10)) 7,345,341 21 5,606,858 24
Cost and appraisal increment 9,713,609 28 6,038,911 26 New share entitlement certificates (Note 4(11)) 132,230 - 12,227 -
Less: Accumulated depreciation ( 2,238,275) ( 6) ( 1,880,962) ( 8) Capital reserve (Note 4(12))
Prepayments for equipment and construction in progress 334,012 1 1,394,407 6 Premium 6,425,721 19 2,198,025 9
7,809,346 23 5,552,356 24 Others 255,603 1 245,718 1
Intangible Assets
Retained earnings
Goodwill - - 4,804 - Legal reserves (Note 4(13)) 1,062,112 3 839,745 4
Deferred pension cost (Note 4(9)) 23,003 - - - Undistributed earnings (Note 4(14)) 4,733,442 14 3,828,854 17
Other intangible assets 132,312 - 93,315 1 Cumulative translation adjustments 301,995 1 611,630 3
155,315 - 98,119 1 Total Stockholders' Equity 20,256,444 59 13,343,057 58
Other Assets
Deposits-out 31,650 - 32,520 - Commitments and Contingent Liabilities (Notes 5 and 7)
Deferred charges 328,502 1 251,456 1
Other assets - others - - 1,657 - Subsequent Events (Note 9)
360,152 1 285,633 1
TOTAL ASSETS $ 34,549,224 100 $ 22,989,874 100 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $34,549,224 100 $22,989,874 100
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.

DELTA ELECTRONICS, INC.
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT EARNINGS PER SHARE DATA)
1999 1998
Amount % Amount
(Restated)
%
Operating revenues (Notes 2 and 5)
Sales revenue $ 40,060,275 101 $ 26,211,781 100
Sales returns ( 272,962) ( 1) ( 269,831) ( 1)
Sales allowances ( 324,866) ( 1) ( 119,745) -
Net sales revenue 39,462,447 99 25,822,205 99
Services revenue 206,357 1 313,677 1
Total operating revenues
Operating costs (Notes 2 and 5)
39,668,804 100 26,135,882 100
Cost of goods sold ( 31,553,703) ( 80) ( 20,650,761) ( 79)
Gross profit 8,115,101 20 5,485,121 21
Unrealized intercompany loss - - 1,657 -
Realized intercompany loss ( 1,657) - - -
Net gross profit
Operating expenses
8,113,444 20 5,486,778 21
Selling ( 1,822,040) ( 4) ( 1,159,080) ( 5)
Management and administrative ( 890,190) ( 2) ( 813,503) ( 3)
Research and development ( 1,851,520) ( 5) ( 1,272,394) ( 5)
Total operating expenses ( 4,563,750) ( 11) ( 3,244,977) ( 13)
Operating income
Non-operating income
3,549,694 9 2,241,801 8
Interest income 215,943 1 253,562 1
Gain on disposal of property, plant and equipment 45,706 - 12,556 -
Gain on disposal of investments 858,573 2 3,012 -
Foreign exchange gain - net 22,033 - 9,413 -
Reversal of allowance for doubtful accounts 32,061 - 3,257 -
Other income (Note 5) 381,597 1 468,049 2
Total non-operating income
Non-operating expenses
1,555,913 4 749,849 3
Interest expense ( 171,041) ( 1) ( 160,369) ( 1)
Investment loss ( 164,047) - ( 36,425) -
Loss on disposal of property, plant and equipment ( 32,409) - ( 7,771) -
Loss on physical count of inventory
Provision for decline in market value and
( 60,706) - ( 4,077) -
obsolescence of inventory ( 30,960) - - -
Other losses ( 173,025) ( 1) ( 109,404) -
Total non-operating expenses ( 632,188) ( 2) ( 318,046) ( 1)
Income before income tax 4,473,419 11 2,673,604 10
Income tax (Notes 2 and 4(15)) ( 659,762) ( 1) ( 384,929) ( 1)
Income after income tax 3,813,657 10 2,288,675 9
Minority interest in consolidated subsidiaries ( 165,771) ( 1) ( 53,304) -
Net income
Earnings per share (Note 4(16)) (In dollars)
$ 3,647,886 9 $ 2,235,371 9
Income before minority interest $ 5.35 $ 3.44
Minority interest in consolidated subsidiaries ( 0.23) ( 0.08)
Net income $ 5.12 $ 3.36
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.
20

21
DELTA ELECTRONICS, INC.
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
Capital Stock Retained Earnings
New share Cumulative
entitlement Capital Legal Undistributed translation
Common stock certificates reserve reserve earnings adjustments Total
1998
Balance at January 1, 1998 $ 4,467,025 $ 107,546 $ 2,015,963 $ 609,647 $ 3,531,746 $ 775,352 $ 11,507,279
Distribution of 1997 earnings:
Directors' and supervisors' remuneration - - - - ( 1,500) - ( 1,500)
Appropriation for legal reserve - - - 230,098 ( 230,098) - -
Issuance of stock dividends 914,914 - - - ( 914,914) - -
Employees' bonus 90,515 - - - ( 90,515) - -
Cash dividends - - - - ( 711,470) - ( 711,470)
Unpaid dividends on unconverted convertible bonds - - - - 21,929 - 21,929
Convertible bonds converted into new share entitlement certificates
New share entitlement certificates issued - 39,085 - - - - 39,085
Premium from conversion of convertible bonds - - 363,532 - - - 363,532
Unpaid interest payable of convertible bonds - - 1,214 - - - 1,214
Common stock issued for conversion of entitlement certificates 134,404 ( 134,404) - - - - -
Proportionate share of adjustment to subsidiaries' capital reserves - - ( 23,028) - - - ( 23,028)
Adjustment due to change in capital reserve of the investee companies - - 52,720 - - - 52,720
Transfer of gain on disposal of property, plant and equipment to capital reserve
by the investee companies - - 964 - ( 964) - -
Appraisal increment of land value - - 21,647 - - - 21,647
Gain on disposal of property, plant and equipment transferred to capital reserve - - 10,731 - ( 10,731) - -
Cumulative translation adjustments on foreign long-term investments - - - - - ( 163,722) ( 163,722)
Net income for the year - - - - 2,235,371 - 2,235,371
Balance at December 31, 1998 5,606,858 12,227 2,443,743 839,745 3,828,854 611,630 13,343,057
1999
Distribution of 1998 earnings:
Directors' and supervisors' remuneration - - - - ( 1,500) - ( 1,500)
Appropriation for legal reserve - - - 222,367 ( 222,367) - -
Issuance of stock dividends 1,123,817 - - - ( 110,098) - -
Cash dividends - - - - ( 1,123,817) - -
Employees' bonus 110,098 - - - ( 1,231,513) - ( 1,231,513)
Unpaid dividends on unconverted convertible bonds - - - - 25,639 - 25,639
Convertible bonds converted into new share entitlement certificates
New share entitlement certificates issued - 624,571 - - - - 624,571
Premium from conversion of convertible bonds - - 4,227,696 - - - 4,227,696
Unpaid interest payable of convertible bonds - - 15,464 - - - 15,464
Common stock issued for conversion of entitlement certificates 504,568 ( 504,568) - - - - -
Proportionate share of adjustment to subsidiaries' capital reserves - - ( 10,572) - ( 35,703) - ( 46,275)
Adjustment due to change in capital reserve of the investee companies - - ( 38,946) - - - ( 38,946)
Transfer of gain on disposal of property, plant and equipment to capital reserve
by the investee companies - - 2,052 - ( 2,052) - -
Gain on disposal of property, plant and equipment transferred to capital reserve - - 42,833 - ( 42,833) - -
Adjustment due to transfer of capital reserve by the investee companies to
cover prior year's operating losses - - ( 946) - 946 - -
Cumulative translation adjustments on foreign long-term investments - - - - - ( 309,635) ( 309,635)
Net income for the year - - - - 3,647,886 - 3,647,886
Balance at December 31, 1999 $ 7,345,341 $ 132,230 $ 6,681,324 $ 1,062,112 $ 4,733,442 $ 301,995 $ 20,256,444
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.

DELTA ELECTRONICS, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
1999 1998
(Restated)
Cash flows from operating activities
Net income
Adjustments to reconcile net income to net cash
provided by operating activities:
$ 3,647,886 $ 2,235,371
Minority interest income in consolidated subsidiaries 165,771 53,304
Bad debts expense
Loss on decline in market value and inventory
58,115 -
obsolescence 30,960 -
Depreciation and amortization 892,668 659,414
Gain on disposal of property, plant and equipment, net ( 13,297) ( 4,785)
Reversal of allowance for doubtful accounts - ( 30,732)
Investment loss, net of gain on disposal of investments
Exchange gain on revaluation of foreign currency
( 570,749) 138,898
denominated convertible bonds ( 80,079) ( 7,490)
Provision for interest payable on bonds redemption
Accrued interest on convertible bonds transferred to
134,104 138,584
capital reserve
Changes in assets and liabilities:
15,464 1,214
Increase in notes receivable ( 68,850) ( 17,971)
Increase in accounts receivable ( 3,553,839) ( 745,541)
Increase in accounts receivable-related parties ( 104,434) ( 699,836)
Increase in other receivables ( 17,628) ( 109,371)
Decrease (increase) in other receivables-related parties 13,089 ( 94,681)
Increase in inventories ( 2,134,824) ( 492,970)
Increase in prepaid expenses ( 5,053) ( 11,611)
Decrease in prepayments 16,291 12,038
Increase in other current assets ( 191,841) ( 129,751)
Decrease (increase) in other assets-others 1,657 ( 1,657)
Increase in accounts payable 3,538,859 1,198,220
Increase in accounts payable-related parties 275,391 38,215
Increase (decrease) in income tax payable 29,136 ( 93,421)
Increase in accrued expenses 166,646 241,060
Increase (decrease) in other payables 132,240 ( 81,739)
Decrease in received in advance 96,839 58,645
Increase in other current liabilities 110,773 15,174
Increase in deferred income tax 748,740 570,767
Increase in reserve for retirement plan 88,133 96,781
Increase in other liabilities-others 236,493 255,786
Net cash provided by operating activities
3,658,661 3,191,915
22

23
DELTA ELECTRONICS, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
1999 1998
(Restated)
Cash flows from investing activities
Disposal of long-term investments
Increase in long-term investments
Increase in prepayment for long-term investment
Increase in cash surrender value of life insurance
Proceeds from disposal of property, plant and
equipment
Acquisition of property, plant and equipment
Decrease in deposits - out, net
Increase in intangible assets
Increase in deferred charges
Net cash used in investing activities
Cash flows from financing activities
Increase (decrease) in short-term loans, net
Increase in convertible bonds
Decrease in long-term loans, net
Decrease in deposits - in, net
Payment of directors' and supervisors' remuneration
Payment of cash dividends
( 5,293,970) ( 4,727,423)
Net cash provided by (used in) financing activities
Foreign exchange difference
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
2,597,616 ( 776,028)
Cash and cash equivalents at end of year $ 3,449,843 $ 2,563,752
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest (net of amount capitalized)
Income taxes
Non-cash flows from investing and financing
activities:
Convertible bonds converted to common stock
(including related premium)
Employees' bonus
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.

DELTA ELECTRONICS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
(THE 1998 INFORMATION HAS BEEN RESTATED)
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT AS INDICATED)
1. HISTORY AND ORGANIZATION
1) Delta Electronics, Inc.
The Company was incorporated in April 1971 under the provisions of the Company Law of the Republic of China
as a company limited by shares. The total outstanding capital was $7,345,341 as of December 31, 1999. The
main activities of the Company are installation of electronic control systems and developing, designing,
manufacturing and selling of communication products and components, computer information system and power
supply.
2) Consolidated subsidiary
A. Delta International Holding Ltd., (DIH) was incorporated in Cayman Islands on June 16, 1993. It mainly
engages in indirect investment in Mainland China, Hong Kong and other areas companies. The Company
owns 94% and 95.25% of the shares of DIH as of December 31, 1999 and 1998, respectively.
B. Delta Networks, Inc. (DNI) was incorporated on October 15, 1998 under the Company Law of the Republic of
China as a company limited by shares. The main activities are developing, designing, manufacturing and
selling of networking system for local area network. The Company owns 99.99% of the shares of DNI as of
December 31, 1999 and 1998.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation
The accompanying consolidated financial statements have been prepared using accounting principles, procedures and
reporting practices generally accepted in the Republic of China. Accordingly, the accompanying consolidated
balance sheet and related statements of income and cash flows and their utilization are not designed for those who
are not informed about the Republic of China's accounting principles, procedures and practices and furthermore are
not intended to present the financial position and results of operations and cash flows in accordance with accounting
principles and practices generally accepted in countries and jurisdictions other than the Republic of China.
Principles of consolidation
1) The consolidated financial statements include the accounts of the Company and the consolidated financial
statements of Delta International Holding Ltd., and Delta Networks, Inc. after eliminating all significant
intercompany accounts and transactions.
2) For long-term investments in which the Company owns more than 50% of the voting rights of the subsidiary,
consolidated financial statements are prepared; however, pursuant to the R.O.C. Securities and Futures
Commission (SFC) regulations, if the total assets and the operating income of the subsidiary are less than 10% of
the respective non-consolidated total assets and operating income of the Company, the subsidiary's financial
statements are not consolidated and instead are accounted for using the equity method. However, when the total
combined assets or operating income of all such non-consolidated subsidiaries constitute more than 30% of the
Company's non-consolidated total assets or operating income, then each individual subsidiary with total assets or
operating income greater than 3% of the Company's respective non-consolidated total assets or operating income
is included in the consolidation.
24

25
3) The investee company, Delta Networks, Inc.(DNI) of which the Company owns more than 50% of the voting
rights in 1998, did not meet the criteria for consolidation described above. In 1999, DNI met such criteria for
consolidation and was included in the consolidated financial statements. Due to the change in consolidated
entities, the 1998 consolidated financial statements were restated to include the financial statements of DNI and
conform with the presentation adopted for 1999.
Translation of financial statements of foreign subsidiaries
Assets and liabilities of the foreign subsidiaries are translated into New Taiwan dollars using the exchange rate at the
balance sheet date; equity accounts are translated at historical rates, except for beginning retained earnings which are
transferred from prior year's ending retained earnings, and profit and loss accounts which are translated using
weighted average rate. Exchange differences are recorded as translation adjustments and are included as a
component of the stockholders' equity.
Translation of foreign currency transactions
The accounts of the Company and its subsidiaries are maintained in their functional currencies. Receivables, other
monetary assets and liabilities denominated in foreign currencies are translated into their functional currencies at the
rates of exchange prevailing at the balance sheet date. Transactions denominated in foreign currency, except forward
exchange contracts, are translated into their functional currencies at the exchange rates prevailing at the transaction
dates. Foreign currency gains or losses are included in current net income.
Forward currency option contracts
Premiums and discounts on option contracts are recorded at cost. Premiums and discounts and unrealized gains and
losses on option contracts entered into for hedging purposes are deferred and amortized over the contract period on a
straight line basis.
Forward exchange contracts
Forward exchange contracts entered into for hedging purposes are recorded using the spot rate on the contract date.
Discounts or premiums on forward contracts are amortized over the periods of the contract. Gains or losses on
forward contracts are determined by the difference between the spot rate at the balance sheet date and the spot rate at
the date of inception of the contract. Exchange gains or losses are included in current net income.
Cross currency swap contracts
Cross currency swap contracts entered into for hedging purposes are recorded using the contract rate on the contract
date and recorded as accrued receivable and accrued payable, respectively. Interest receivable and interest payable
are accrued in accordance with the contract rate. Gains or losses on cross currency swap contracts are determined by
the difference between the spot rate at the balance sheet date and the spot rate at the date of inception of the contract.
Exchange gains or losses are included in current net income.
Cash equivalents
Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and
with maturity dates that do not present significant risk of change in value because of changes in interest rates.
Allowance for doubtful accounts
Allowance for doubtful accounts is provided based on an evaluation of the collectibility of ending balances of notes
receivable, accounts receivable and other receivables.

Inventories
Inventories are stated at the lower of cost or market value; cost is determined by the standard cost. Variances from
standard cost are allocated to ending inventories and cost of goods sold at the end of each period. When comparing
with market value, current replacement price is used for materials. Net realizable value is used as market value for
work in process and finished goods. Provision is made for obsolete inventories at period-end.
Funds and long-term investments
1) Long-term investments
A. Long-term investments in which the Company owns less than 20% of the voting rights of the investee
company and has no significant influence on the investee company's operational decisions are accounted for by
the lower of cost or market value method, if the investee company is listed, and by the cost method if the
investee company is not listed. Valuation allowance for unrealized loss under the lower of cost or market value
method is shown under stockholders' equity. When it becomes evidently clear that there has been a permanent
impairment in value and the chance of recovery is minimal, loss is recognized in the current year's net income.
If the Company owns at least 20% of the voting rights of the investee company, the investment is accounted for
by the equity method, unless there is evidence that the Company cannot exercise significant influence over the
investee company. The unrealized gains or losses arising from transactions between the Company and investee
companies are eliminated in preparing the financial statements. The Company delays recognition of
investment income (loss) on long-term equity investments in which the Company's voting rights on the
investee company do not exceed 50%, if the investee company's financial statements for the same period are
not available in time, except when certain criteria are met, in which case no delay is possible.
B. Foreign investments in which the Company owns less than 20% of the voting rights of the investee company
are accounted for by the cost method. The original cost is accounted for based on actual remittance amount.
Investments in foreign currency are translated into New Taiwan dollars at the rates of exchange prevailing at
the balance sheet date; unrealized exchange loss (and subsequent recoveries to the extent they do not exceed
original cost) is treated as translation adjustment of long-term investments under stockholders' equity.
The Company's proportionate share of the foreign investee's cumulative translation adjustments related to the
translation of the foreign investee's financial statements into New Taiwan Dollars is recognized by the
Company and is included in a cumulative translation adjustment account in the stockholders' equity.
C. When the Company's proportional interest in an equity investee changes after the equity investee sell additional
shares by the variance between the investment cost and the Company's proportionate share of the net asset of
the investee companies is adjusted first to capital reserve. IF the capital reserve arising from long-term
investment is not sufficient, then retained earnings is debited.
D. If the investee company has gains on disposal of property, plant and equipment, net of applicable income tax,
transferred to capital reserve, such amount will be transferred into capital reserve from retained earnings based
on the ownership percentage in the current year. If the investee company covered prior years' losses using
above capital reserve, capital reserve will be transferred back into retained earnings based on the ownership
percentage.
In addition, any other changes to the investee company's capital reserve will be adjusted by the Company to its
long-term investment account and capital reserve based on its ownership percentage.
E. Under the equity method, the excess of investment cost over the net asset of the investee companies at the date
of investment is amortized over 5 years.
26

27
2) Cash surrender value of life insurance.
The cash surrender value of life insurance is recorded as an asset and classified as long-term investment. The
increase in cash surrender value during the period is accounted for as an adjustment to insurance premiums paid.
Property, plant and equipment
1) With the exception of land, which is carried at appraised value, property, plant and equipment are carried at cost
which includes capitalized interest.
2) Depreciation of the Company and the subsidiary, DNI are provided on a straight-line method over the estimated
useful lives of the assets, plus one year as salvage value, except for leasehold improvement, which is based on
contract period or the life of the asset, whichever is shorter. Salvage value of assets, which are still in use after the
end of their estimated useful lives, are depreciated based on a new estimated remaining useful life. Depreciation of
DIH and its subsidiaries are provided on a straight-line method over the estimated useful lives of the assets, cost
less salvage value. The salvage value is calculated on 10% of cost. The estimated useful lives of fixed assets are 2
to 20 years, except for buildings and equipment which are 3 to 55 years.
3) Renewals and improvements are treated as capital expenditures and are depreciated accordingly. Maintenance and
repairs are charged to expense as incurred. When an asset is sold or retired, the cost and accumulated depreciation
are removed from the respective accounts and the resulting gain or loss is included in current non-operating results.
Gains on disposal of property, plant and equipment, net of applicable income tax, are transferred to capital reserve
in the current year.
Intangible Assets
1) Goodwill
The excess of investment cost over the net assets of the investee company is capitalized and amortized over 5 years.
2) Other intangible assets
Land use rights are recorded at actual cost and amortized over the lease term.
Deferred charges
Deferred charges are recorded at actual cost and amortized over the estimated useful lives based on the straight-line
method, except for the issuance costs for convertible bonds which are amortized over the outstanding period of the
bonds. The unamortized bonds issuance costs related to the bonds converted or redeemed before the maturity date are
transferred to expense at the date of redemption or conversion.
Retirement plan
1) The Company maintains a non-contributory and funded, defined benefit employee retirement plan (the Plan)
covering all regular employees. Benefits under the Plan are generally determined based upon years of credited
service, age at retirement and average compensation. The Company contributes the pension fund to an
independent retirement trust fund commencing in 1986. As approved by the government, in November 1990, the
Company suspended contributing to the independent retirement trust fund. The Company resumed contributing to
the fund at a fixed rate equal to 2% of monthly salaries and wages since July 1999. The trust fund assets are not
reflected in the Company's financial statements.
2) Pension cost, which includes service cost, interest cost, expected return on plan assets and amortization of net
obligation at transition, is recognition based on an actuarial valuation. The unrecognized net asset or obligation at

transition is amortized equally over 15 years. The pension fund is managed by an independently administered
pension fund association.
Convertible bonds
1) The excess of estimated redemption price over the par value is recognized as interest expense at the effective
interest rate and a liability is recorded as "Interest Payable on Redemption". If there are two or more redemption
prices, the highest redemption price is used. Variance between book value as of redemption day and actual
redemption price is recognized as current year's interest expense.
2) When a bondholder exercises his/her conversion rights, the book value of bonds is credited to common stock at an
amount equal to the par value of the stock and the excess is credited to capital reserve; no gain or loss is
recognized on bond conversion.
3) The related issuance costs for convertible bonds are recorded as deferred charges, and are amortized over the life
of the bonds. The unamortized bonds issuance costs related to the bonds converted or redeemed before the
maturity date are transferred to expense upon conversion or redemption.
4) For convertible bonds with redemption rights, the right of redemption lapses if the investor fails to exercise his/her
redemption right, and the balance of Interest Payable on Redemption is amortized over the period from the date
following the redemption period to maturity date using the effective interest rate.
Income tax
1) The provision for income tax includes deferred tax resulting from items reported in different periods for tax and
financial reporting purposes. Deferred income tax assets or liabilities are further classified into current and
noncurrent items based on the classifications of the related assets or liabilities or on the expected reversal date of
the temporary differences and are presented on the financial statements as net balance. Valuation allowance for
deferred income tax assets is recognized if it is more likely than not that the tax benefits will not be realized.
2) According to the new Taiwan imputation tax system, any undistributed current earnings, on tax basis, of the
Company derived on or after January 1, 1998 is subject to an additional 10% corporate tax if the earnings are not
distributed before a specific time and is recorded as current income tax expense in the period the stockholders
approved a resolution to retain the earnings.
3) The income tax of the foreign subsidiary and its subsidiaries are calculated based on the local policies.
4) Over or under provision of prior years' income tax liabilities is included in the current year's income tax expense.
Revenue, costs and expenses recognition
Revenue is recognized when the earning process is completed and realized or realizable. Costs and expenses are
recorded as incurred. Research and development costs are expensed as incurred, except for costs of machinery used
inR&Dwhich are capitalized.
3. CHANGES IN ACCOUNTING PRINCIPLES
As described in Note 2, the subsidiary, DNI did not meet the criteria for consolidation in 1998 and, therefore, the
long-term investment in DNI was accounted for under the equity method. In 1999, DNI met the criteria for
consolidation and its 1999 financial statements were then included in the consolidation. Due to the change in the
reporting entities in 1999, the 1998 consolidated financial statements have been restated to include the 1998 financial
statements of DNI. DNI was in pre-operating stage in 1998 because it had not commenced its main operating
activities and, therefore, the effect of the change in reporting entities change was immaterial.
28

29
4. DESCRIPTION OF SIGNIFICANT ACCOUNTS
1) Cash and cash equivalents
Cash on hand
Checking and demand deposits
Time deposits
Cash equivalents commercial paper
2) Accounts receivable
Accounts receivable
Less: Allowance for doubtful accounts
3) Inventories
Raw materials
Work in process
Finished goods
Inventory in transit
Less: Reserve for decline in market value
and inventory obsolescence
4) Long-term investments
December 31,
1999 1998
December 31,
1999 1998
December 31,
1999 1998
A. List of long-term investments:
December 31, 1999 December 31, 1998
Investee Company
Equity method by the Company
Amount % Amount %
Cyntec Co., Ltd. $ 758,542 53.55 $ 687,653 54.33
Yuasa Delta Technology Inc. 266,414 33.59 308,732 33.59
Grand Advance Technology Ltd. 146,647 36.00 135,277 36.00
Delta Optoelectronics, Inc. 95,863 99.93 - -
Analog and Power Electronics Corp. 59,681 22.15 43,558 24.00
Vivitek Co., Ltd. 48,211 75.36 84,826 75.36
Delta Electronics (Japan) Inc. 37,131 60.00 10,893 40.00
Delta Electronics Europe Ltd. 5,180 40.00 10,007 40.00
Luke Network Consulting Co., Ltd. - - 4,650 100.00
1,417,669 1,285,596

December 31, 1999 December 31, 1998
Amount % Amount %
Equity method by DIH
Deltron-Cimic Electric and
Electronics Co., Ltd. (Shang Hai) 96,244 16.93 159,050 25.40
Delcom Electronics Company Ltd. 86,118 25.00 88,953 25.00
DAT Holding Ltd. 70,671 37.00 231,692 37.00
Newton Power Ltd. 13,872 41.57 - -
Equity method by DNI
266,905 479,695
Addtron Technology Co., Ltd. 22,132 70.00 - -
Subtotal 1,706,706 1,765,291
Investee Company
Cost method by the Company
Macronix International Co., Ltd. $ 279,508 3.04 $ 423,149 4.60
Loyalty Founder Enterprise Co., Ltd. 126,716 14.70 126,716 14.85
Delta Electronics (Thailand) Public Co., Ltd. 94,434 6.05 57,751 6.02
Acute Applied Technology Inc. 89,294 16.36 59,294 20.00
WK Technology Fund 76,332 5.60 68,255 5.09
WK Technology Fund IV 70,500 5.88 70,500 5.88
WK Technology Fund V 70,000 5.83 70,000 5.83
D-Link Co., Ltd. 68,174 0.36 68,174 0.36
Optronics International Co., Ltd. 65,912 16.48 65,912 16.48
Zenitron Corporation 60,000 2.50 - -
Sheng Hua Venture Capital Corp. 50,000 2.50 - -
WK Technology Fund III 42,450 3.54 42,450 3.54
Betacera Inc. 39,000 19.96 39,000 19.96
Golden Card Multimedia Technology Co., Ltd. 35,040 9.79 35,040 7.82
Susumu Co., Ltd. 34,679 5.77 34,679 5.77
Prominent Communications, Inc. 31,395 (Note 1) 32,210 (Note 1)
Advanced Display Systems, Inc. - (Note 1) 55,010 (Note 1)
Others 49,587 - 51,907 -
Cost method by DIH
1,283,021 1,300,047
Delta Electronics (Thailand) Public Co., Ltd. 2,652,011 10.51 317,333 2.22
D-Link Co., Ltd. 623,341 3.62 639,523 3.62
SynQor LLC 94,185 (Note 2) - -
KC Technology Inc. 15,697 (Note 1) 16,105 (Note 1)
3,385,234 972,961
Subtotal 4,668,255 2,273,008
Total
(Note 1): Preferred stock.
(Note 2): Convertible bonds.
$ 6,374,961 $ 4,038,299
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31
B. Except for DIH and DNI, which were included in the consolidation as described in Note 2, the other
majority-owned investments are accounted for under equity method because they do not meet the criteria
for consolidation as described in Note 2.
C. The investment income for 1999 and 1998 of Delta Electronics (Japan) Inc. and Delta Electronics Europe
Ltd. (DEU) amounting to $841 and $3,960, respectively, were recognized based on the investee companies'
financial statements, which were audited by other auditors. The 1999 and 1998 investment income from
DEU were recognized based on the Company's 1998 and 1997 ownership ratio applied to DEU's 1998 and
1997 financial statements. Except for the investee companies mentioned, the investment loss of other longterm
investments under equity method for the years ended December 31, 1999 and 1998 amounting to
$58,681 and $118,253, respectively, were recognized based on the audited financial statements of these
investee companies on the same year.
The financial statements of DIH were audited by other auditor. The investment loss for 1999 and 1998
amounting to $164,394 and $26,484 respectively, were recognized based on the investee company's
financial statements.
In December 1999, DNI invested in Addtron Technology Co., Ltd. DNI did not recognize the investment
income or loss in 1999 due to the short holding period from date of investment and DNI considered the
effect as not material.
D. The Company invested in Acute Applied Technology Inc. (AATI), representing 20% of AATI's voting rights
in the third quarter of 1998. The Company recognized the investment loss amounting to $706 in 1998
based on AATI's audited financial statements on the same year. During the second quarter of 1999, the
Company's percentage ownership changed to 16.36% because of the employee stock subscription and
technical shares in the new shares issued by AATI. As a result, the Company did not recognize investment
income commencing 1999.
E.
F.
The investee company, Luke Network Consulting Co., Ltd., accounted for under equity method was
liquidated in October 1999. The Company recognized the investment loss amounting to $184 in 1999.
The investee company, Advanced Display Systems, Inc. (ADS), had a negative net worth as of December 31,
1999. The Company considered the recovery of this investment is unlikely and recognized investment loss
amounting to $55,010 in 1999. As a result, the carrying value of the investment in ADS was reduced to
NT$1 dollar as of December 31, 1999.
G. The Company and its consolidated subsidiaries received cash dividends from investee companies accounted
for under cost method amounting to $113,197 and $104,352 in 1999 and 1998, respectively.

32
5)
Property, plant and equipment
Appraisal
Accumulated Net
Item Original cost increment Total depreciation book value
December 31, 1999
Land
Buildings and equipment
Machinery and equipment
Molds
Computer and communication equipment
Test equipment
Motor vehicles
Furniture and fixtures
Leasehold improvements
Prepayments for equipment and construction in progress
December 31, 1998
Land
Buildings and equipment
Machinery and equipment
Molds
Computer and communication equipment
Test equipment
Motor vehicles
Furniture and fixtures
Leasehold improvements
Prepayments for equipment and construction in progress
A. The appraisal increment of land in property, plant and equipment amounted to $202,232.
The reserve for land value incremental tax amounted to $97,283 and the appreciation of assets amounted to $114,714 as of December 31, 1999.
B. Total capitalized interest amounted to $1,503 and $3,448 for the years ended December 31, 1999 and 1998, respectively.

33
6) Short-term loans
Unsecured bank loans
Secured bank loans
Materials import loans
Credit lines
Interest rates per annum
7) Convertible bonds
A. First foreign currency Europe convertible bonds
Convertible bonds (at par value)
Add: Interest payable on redemption
Valuation on foreign currency
A) On January 23, and February 27, 1997, following the approval from the Securities and Futures Commission
(SFC), the Company issued 0.5% (net of tax) convertible bonds in the amount of US$110,000 thousand dollars.
These convertible bonds cover a period of seven years and interest is payable annually on December 28 of each
year.
In accordance with the "Rules Governing Issuance and Conversion of Bonds," the investors may convert the
bonds into the Company's common stock from April 6, 1997 to February 6, 2004. The unconverted bonds will
be repaid at par value on maturity. The bonds converted to common stocks were US$107,284 thousand dollars
and US$64,729 thousand dollars as of December 31, 1999 and 1998, respectively.
The conversion price was initially set at $110 (dollars) per share on the issuance date, which was subsequently
adjusted for capital increase. As of December 31, 1999 and 1998, the adjusted conversion prices were
NT$63.6 (dollars) and NT$76.4 (dollars) per share, respectively.
The investors may require the Company to redeem the bonds for cash at 137.39% of the bonds principal
amount from March 6, 2002.
B) The difference between the redemption price and the par value of bonds, recognized by the Company as
interest expense and Interest Payable on Redemption, using the effective interest method in 1999 and 1998
were $76,112 and $138,584, respectively.
B. Second foreign currency Europe convertible bonds
Convertible bonds (at par value)
Add: Interest payable on redemption
Valuation on foreign currency
December 31,
1999 1998
December 31,
1999 1998
December 31,
1999 1998
A) On January 13 1999, following the approval from the SFC, the Company issued 1% (net of tax) convertible
bonds in the amount of US$100,000 thousand dollars. These convertible bonds cover a period of seven years
and interest is payable annually on December 28 of each year.
In accordance with the "Rules Governing Issuance and Conversion of Bonds," the investors may convert the
bonds into the Company's common stock from March 23, 1999 to January 23, 2006. The unconverted bonds
will be repaid at par value on maturity. The bonds converted to common stock were US$97,780 thousand
dollars as of December 31, 1999.

The initial conversion price, which was set on the issuance date at $86 (dollars) per share, is adjusted for
increase in common shares outstanding. As of December 31, 1999, the adjusted conversion price was $71.6
(dollars) per share.
The investors may require the Company to redeem the bonds for cash at 114.85% of the bond principal
amount as of February 23, 2002 or 129.39% of the bond principal amount as of February 23, 2004.
B) The difference between the redemption price and the par value of bonds, recognized as interest expense and
Interest Payable on Redemption, using the effective interest method in 1999 was $57,992.
8)
Long-term loan
Bank Name Type of loan Collateral
Industrial New products None
Development development
Bureau of the
Ministry of
Economic Affairs
loan
Less: Current portion
Under the "Plan for Encouragement of Development of New Industrial Products of Guidance," the Company
entered into a non-interest bearing loan agreement with the Industrial Development Bureau of the Ministry of
Economic Affairs. The loan amount of $12,364 was fully drawn down in July 1997 and is repayable in 8 equal
quarterly installments starting from October 1998.
9) Reserve for retirement plan
A. The Company has an employee retirement plan covering all regular employees. Under the plan, the pension
benefits payable to employees are determined as follows:
a. 2 months of average salary will be paid for each year of service for the first fifteen years.
b. For the service period over 15 years, one month of average salary will be paid per year.
c. There is a limitation of 45 months of average salary.
d. A half year of service is credited for the service period shorter than a half year. For the service period of 6
months and over, a whole year of service is credited.
B. The balance of the pension fund of the Company and the subsidiary, DNI, which is deposited with the Central
Trust of China, was $213,456 and $195,100 as of December 31, 1999 and 1998, respectively.
C. Based on the measurement dates at December 31, 1999 and 1998, the related assumptions used to calculate the
net periodic pension cost and the reconciliation of the funding status to accrued pension liability as of December
31, 1999 and 1998 were as follows:
Vested benefit obligation
Non-vested benefit obligation
Accumulated benefit obligation
Additional benefits based on future
salary increases
Projected benefit obligation
Fair value of plan assets
Funded status
Unrecognized transition obligation
Unrecognized net gain
Additional liabilities
Accrued pension
December 31,
1999 1998
December 31,
1999 1998
34

35
The related assumptions were as follows:
1999 1998
Discount rate 6.00% 6.50%
Expected return rate on plan assets 6.00% 6.25%
The average ratio of salary increase 6.00% 6.00%
D. The details related to net pension cost for 1999 and 1998 were as follows:
1999 1998
Service cost
Interest cost
Expected return on plan assets
Unrecognized transition obligation
Unrecognized pension (gain) loss
Net pension cost
10) Common stock
The authorized capital of the Company amounted to $9,000,000. As of December 31, 1998, the outstanding capital
of the Company amounted to $5,606,858. Based on the resolution adopted at the shareholders' meeting on May 12,
1999, the Company issued 123,391,542 shares of common stock as stock dividends and employees' bonus by
capitalizing retained earnings in the amount of $1,233,915 during 1999. In 1999, $504,568 (50,456,831 shares) of
new share entitlement certificates were converted into common shares. As of December 31, 1999, the total issued
and outstanding common stock was 734,534,144 shares at $10 (dollars) par value per share.
11) New share entitlement certificates
When the holders of convertible bonds exercise their conversion right during the year, the Company issues new
share entitlement certificates to these holders. Issuance of new shares in exchange for the certificates is made at
capital incremental date or year-end. The rights and obligations of the holders of the certificates are the same as
those of the shareholders of common stock, except that they are excluded from participating in the distribution of
prior year's earnings and subscription of new shares.
As of December 31, 1999, the issued and outstanding new share entitlement certificates amounted to $132,230.
12) Capital reserve
Premium from conversion of convertible bonds
Appreciation on revaluation of asset
Gain on disposal of property, plant and
equipment, net of income tax
Long-term investment - adjustment to reflect
proportionate share of subsidiaries' net assets
Unpaid interest payable of convertible bonds
Adjustment due to change in capital reserve
of the investee companies
Transfer of gain on disposal of property, plant
and equipment to capital reserve by the
investee companies
December 31,
1999 1998
A. The Company Law of R.O.C requires that the capital reserve shall be exclusively used to cover accumulated
deficit or increase capital and shall not be used for any other purposes.
B. The Securities Exchange Law of R.O.C and related regulations require that the utilization of capital reserve from
appreciation on revaluation of land for capital increase is limited to once each year, and shall not exceed 10% of
the appreciation on revaluation of land and 10% of the Company's outstanding capital stock for each capital
increase.

13) Legal reserve
The R.O.C Company Law requires that the Company shall set aside 10% of its net income as the legal reserve after
covering prior years' losses until the legal reserve equals the capital stock balance. The legal reserve can be used
only to cover an accumulated deficit or increase capital. The legal reserve can be used to increase capital only when
the reserve exceeds 50% of capital stock, and should be limited to 50% of the excess portion of the reserve.
14) Undistributed earnings
A. Based on the Company's Articles of Incorporation, as revised in the shareholders' meeting on May 15, 1998, the
current year's earnings, if any, shall be distributed in the following order:
a) Payment of all taxes and dues.
b) Cover prior years' operating losses, if any.
c) After deducting (a) and (b), set aside 10% of the remaining amount as legal reserve.
d) After deducting items (a), (b) and (c), allocate up to 1% of the remaining amount as directors' and supervisors'
remuneration.
e) After deducting items (a), (b) and (c), allocate at least 3% of the remaining amount as employees' bonus.
f) After deducting items (a), (b), (c), (d) and (e), distribute the remaining amount as dividends and shareholders'
bonus or keep as retained earnings according to the resolution of the meeting of stockholders.
B. The new Taiwan imputation tax system requires that any undistributed current earnings, on tax basis, of a
company derived on or after January 1, 1998 be subject to an additional 10% corporate income tax if the earnings
are not distributed before a specific time. This 10% additional tax on undistributed earnings paid by the company
can be used as tax credit by the shareholders, including foreign shareholders, against the withholding tax on
dividends. In addition, the domestic shareholders can claim a proportionate share in the company's corporate
income tax as tax credit against its individual income tax liability effective 1998.
As of December 31, 1999, the undistributed current earnings in 1998 of the subsidiary, DNI is subject to an
additional 10% corporate tax amounting to $43.
C. The information on these undistributed earnings and tax credit of the Company are as follows:
Before December 31, 1998
1999
15) Income tax
Imputation Estimated
Undistributed tax credit creditable
earnings account balance ratio
A. Deferred income tax assets and liabilities as of December 31, 1999 and 1998 were as follows:
A) Total deferred income tax assets
B) Allowance for deferred income tax assets
C) Total deferred income tax liabilities
D) The components of deferred income tax assets and liabilities were as follows:
December 31,
1999 1998
36

37
Undeposited pension
Unrealized foreign
exchange loss, net
Royalty payable
Reserve for decline
in market value and
inventory obsolescence
Others, net
Investment tax credits
Investment income
accounted for under
the equity method
B. Net deferred income tax assets - current
Deferred income tax assets - current
Deferred income tax liabilities - current
Net deferred income tax assets - current
(shown as other current assets in the balance sheet)
C. Net deferred income tax liabilities - noncurrent
Deferred income tax assets - noncurrent
Allowance for deferred income tax assets
- noncurrent
Net deferred income tax assets - noncurrent
Deferred income tax liabilities - noncurrent
Net deferred income tax liabilities - noncurrent
December 31, 1999 December 31, 1998
Original Original
amount Tax effects amount Tax effects
D. Income taxes payable (refundable) for the years ended December 31, 1999 and 1998 were arrived at as follows:
Deferred tax assets - non-current
Additional 10% corporate income tax on
undistributed earnings
Current year's income tax expense
Effect of deferred income tax
Over provision of income tax in prior years
Less: Income subject to separate tax
Prepaid income tax and tax withheld
Others
Income tax payable (refundable)
December 31,
1999 1998
December 31,
1999 1998
1999 1998
E. As of December 31, 1999, the unused investment tax credits for the procurement of machinery and equipment,
R & D and training expenditures of the Company and subsidiary, DNI amounted to $502,643. The tax credits
will expire in 2003.
F. The Company's income tax returns have been assessed and approved by the Tax Authority up to 1997. In 1994,
additional income tax payable amounting to $7,421 was assessed. As the Company applied for a reassessment in
April, 1997, no accrual was made for this tax liability. However, in accordance with the instructions from the Tax
Authority, the Company provided the certificates of time deposit amounting to $7,900 in June 1997 to guarantee

payment of the final tax assessment. The reassessment is still in process by the Tax Authority as of December 31,
1999.
DNI's, consolidated subsidiary, 1998 income tax return has not yet been assessed and approved by the Tax
Authority.
16) Earnings per share
Net income (A)
Outstanding common shares at beginning of the year
Weighted average outstanding common shares from new share entitlement
certificates converted during the year
Issuance of stock dividends from
distribution of earnings
Weighted average outstanding common shares arising from capitalization
of employees' stock bonus from distribution of earnings
Weighted average outstanding common shares at end of the year (B)
Retroactively adjusted of stock dividends from distribution of earnings (20%)
Retroactive adjustment weighted average outstanding common shares (C)
Earnings per share (A/B)
(In New Taiwan dollars)
Retroactively adjusted earnings per share (A/C) (In New Taiwan dollars)
5. RELATED PARTY TRANSACTIONS
1) Names and relationship of related parties
Names of related parties Relationship with the Company
Cyntec Co., Ltd. (Cyntec) Investee company accounted for under the equity method
Vivitek Co., Ltd. (Vivitek) Investee company accounted for under the equity method
Yuasa Delta Technology Inc. (YDT) Investee company accounted for under the equity method
Addtron Technology Co., Ltd. (AT) Investee company accounted for under the equity method
Delta Electronics (Japan) Inc. (DEJ) Investee company accounted for under the equity method
Delta Electronics Europe Ltd. (DEU) Investee company accounted for under the equity method
Delta Electronics (Thailand) Public Co., Ltd. Certain shareholders of the Company are shareholders of
(DET) DET (Note 2)
Note 1: As discussed in Note 4(4), no investment income or loss was recognized in 1999 in the investment in AT.
Note 2: In 1999, DET became a new related party. In accordance with the regulations of SFC, which became
effective in 1999, certain prior period amounts relevant to DET are presented for comparative
information purposes only.
2) Significant transactions with related parties
A. Sales
1999 1998
% of net
% of net
consolidated
consolidated
operating
operating
Amount revenues Amount revenues
DEU
DET
DEJ
AT
Others
- - -
7
Sales to related parties are made on the same terms and conditions as those to third parties.
1999 1998
38

39
B. Service revenue
DET
C. Other income (royalty income)
YDT
D. Purchases
DEJ
DET
Others
Purchases from related parties are made at same terms and conditions as those to third parties.
E. Accounts receivable
DEU
DET
Others
Less: Allowance for
doubtful accounts
F. Other receivables
DET
YDT
Others
1999 1998
% of net % of net
consolidated consolidated
operating operating
Amount revenues Amount revenues
1999 1998
% of net % of net
consolidated consolidated
other other
Amount income Amount income
1999 1998
% of net % of net
consolidated consolidated
Amount purchases Amount purchases
1999 1998
% of net % of net
consolidated consolidated
accounts accounts
Amount receivable Amount receivable
December 31,
1999 1998

G. Accounts payable
DET
DEJ
Others
H. Endorsements and guarantees
December 31,
1999 1998
%of %of
consolidated
consolidated
accounts
accounts
Amount payable
Amount payable
The amounts of endorsements and guarantees provided by the Company on behalf of related parties as of
December 31, 1999 and 1998 are listed below:
December 31,
1999 1998
DEJ
DEU
Vivitek
Cyntec
6. DETAILS OF ASSETS MORTGAGED
As of December 31, 1999 and 1998, the details of assets mortgaged by the Company and DIH were as follows:
Book value
Assets item Dec. 31, 1999 Dec. 31, 1998 Purpose of pledge
Land Short-term and long
- term loans
Buildings and equipment
Time deposits (shown in
Short-term and long
- term loans
other current assets) Tax reassessment
Total credit line secured by the above mortgaged assets was $189,309 and $294,528 as of December 31, 1999 and
1998, respectively.
7. COMMITMENTS AND CONTINGENT LIABILITIES
In addition to those which have been disclosed in Notes 4(15), 5 and 6, the significant commitments and
contingent liabilities of the Company as of December 31, 1999 and 1998 were as follows:
1) As of December 31, 1999 and 1998, the unpaid portion of the outstanding letters of credit was $71,550 and
$139,638, respectively.
2) Except for those which have been disclosed in Note 5, as of December 31, 1999 and 1998, the amount of
guarantees the Company provided to a certain company is listed below:
December 31,
1999 1998
Delta Product Corp. (USA)
3) As of December 31, 1999, the outstanding contract for the minimum rent of the office, building and warehouse
of the Company and the subsidiaries, DIH and DNI were $50,819. The details are as follows:
2000
After 2001
40

41
8. MAJOR CATASTROPHE
No significant event has transpired which impacted the Company's and the consolidated subsidiary's operations.
9. SUBSEQUENT EVENTS
1) According to the resolution of the Company's Board of Directors on December 27, 1999, the Company will issue
foreign currency convertible bonds amounting to US$200 million. Following the approval from the SFC, the
Company issued convertible bonds in the amount of US$200 million (received $6,142,400) on February 15, 2000.
These convertible bonds have 0% interest and cover a period of five years.
2) The Company invested in the new shares issued by Macronix International Co., Ltd. amounting to $92,684,
representing 3,089,500 shares at NT$30 (dollars) per share. The transaction was ratified by the Company's Board
of Directors on January 20, 2000. The Company's shareholding ratio changed from 3.04% to 2.99%.
3) The Company invested $202,500 in the new shares issued by Grand Advance Technology Ltd. (GAT), representing
8,100,000 shares at NT$25 (dollars) per share. The transaction was ratified by the Company's Board of Directors
on February 19, 2000. As a result, the shareholding ratio in GAT decreased from 36% to 34.2%.
4) The subsidiary of the Company, DIH, issued 4,500,000 new shares at US$8.73 (dollars) per share to increase its
working capital and invest in Delta Electronics (Thailand) Public Co., Ltd. (DET). According to the resolution of
the Company's Board of Directors on January 24, 2000, based on its current ownership percentage, the Company
purchased DIH's 4,230,000 shares for US$36,928 thousand.
After DIH's additional investment in DET in January, 2000, the Company's direct and indirect shareholding ratio in
DET is above 20%. Commencing January 2000, the Company will recognize investment income or loss in DET
under equity method and amortize the difference between cost and net assets
5) On January 19, 2000, SFC approved the subsidiary's, DNI, application for public issuance of its stocks, and DNI
accordingly, issued 30,000,000 new shares. On February 22, 2000, the Company invested $207,000, representing
20,700,000 shares. The Company's shareholding ratio in DNI decreased from 99.99% to 86.71%.
10. OTHERS
1) The 1998 consolidated financial statements have been restated to reflect the consolidated reporting entities of DIH.
Certain accounts in the 1998 consolidated financial statements have been reclassified to conform with the
presentation adopted for 1999.
2) Fair value of non-derivative assets and liabilities
December 31, 1999 December 31, 1998
Book Value Fair Value Book Value Fair Value
ASSETS
Non-derivative assets with
fair values equal to book values
Long-term investments and
prepayment for long-term investment
LIABILITIES
Non-derivative liabilities with
fair values equal to book values
Reserve for retirement plan
The related assumptions on the fair value of non-derivative assets and liabilities are as follows:
A. Non-derivative assets and liabilities with fair values equal to book values.
a. The carrying amounts of short-term non-derivative assets and liabilities including cash and cash equivalents, notes
receivable and accounts receivable, other receivables, mortgaged time deposits shown as other current assets,

short-term loan, accounts payable, tax payable, accrued expenses, other payables and other current liabilities are
their fair values because of their short-term maturities.
b. The fair value of cash surrender value of life insurance is based on book value at balance sheet date.
c. The fair values of deposits-out and deposits-in are based on book value, which are close to present value.
d. The fair value of convertible bonds is based on book value at balance sheet date because of the recognition of
interest payable on redemption, for the difference between the redemption price and the par value of bonds, and
the translation into New Taiwan dollars at the rates of exchange prevailing at the balance sheet date.
e. The fair value of long-term loans (including current portion) is based on book value, because there is no
significant difference in the discounted value of future cash flows and the carrying amount of long-term loans.
B. The fair values of long-term investments are their market values or the underlying equity in net assets and/or other
financial information, if market value is not available.
C. The fair value of reserve for retirement plan is the funded status based on the retirement actuarial report as of
December 31, 1999.
3) Information on derivative transactions
A. General information disclosure:
a. Purpose:
The Company and its consolidated subsidiary, DNI, entered into certain foreign currency option contracts,
premium currency deposit, forward foreign currency contracts and cross currency swap contracts to hedge foreign
exchange risks in foreign currency denominated accounts receivable.
b. Par value, contract amount and notional principal amount: (in thousand)
a) Foreign currency option contracts
All of the foreign currency option contracts matured as of December 31, 1999. The amounts of the outstanding
option contracts, which the Company entered into with certain banks in 1998 were as follows:
Purchase of option contracts
Sale of option contracts
b) Premium currency deposits
All of the premium currency deposit matured as of December 31, 1999. The Company did not enter into
premium currency deposit with banks in 1998.
c) Forward foreign currency contracts
All of the forward foreign currency contract matured as of December 31, 1999. The Company did not enter
into forward foreign currency contract with banks in 1998.
d) Cross currency swap contracts
December 31, 1998
Purchase amount Sale amount
(NTD) (USD)
The amount of the outstanding swap contracts, which the Company entered into with certain banks, as of
December 31, 1999 were as follows:
34 42

43
Forward contract receivable
Forward contract payable - foreign currency
(US$35,000 thousand dollars)
Interest receivable
Interest payable - foreign currency
(US$110 thousand dollars)
The Company did not enter into cross currency swap contracts with banks in 1998.
c. Term and characteristics of the derivative contracts:
a) Terms:
i) Foreign currency option contracts
The premiums of both options are to be offset and the net premium receivable of the Company and its
consolidated subsidiary, DNI, was US$20 thousand in 1999 and 1998, respectively, and the related exchange
gain from the matured option contracts was $9,776 and $20,062, respectively.
ii) Foreign currency deposit contracts
The Company received the premium amounting to US$39 thousand in 1999, and the related exchange loss
from the matured contracts was $1,017.
iii) Forward foreign currency contracts
The related exchange loss from the matured forward foreign currency contracts was $66 in 1999.
iv) Cross currency swap contracts
As of December 31, 1999, outstanding contracts were as follows: (in thousand)
Forward contract receivable
($221,340 each month)
Forward contract payable
- foreign currency (US$7,000 each month)
Rate of interest receivable
Rate of interest payable - foreign currency
Exercise rate (USD to NTD)
Exercise dates (the 13th of each month)
b) Credit risk:
The banks, which the Company and its consolidated subsidiary, DNI, deal with, are all in good credit standing
and, therefore, the possibility is low for the banks not to comply with the terms of the contracts. In the event
that the banks fail to comply with the contracts, these will not cause any major loss to the Company and its
consolidated subsidiary, DNI.
c) Market risk:
The Company and its consolidated subsidiary, DNI, entered into these contracts in order to hedge foreign
exchange losses. Due to the nature, there is no material market risk.
d) Future cash flow and period:
December 31, 1999
December 31, 1999
As of December 31, 1999, there are only cross currency swap contracts still outstanding.

When the contracts mature, there will be $1,106,700 cash inflows and US$35,000 thousand cash outflows and
related interest income was $12,962 and interest expense was US$565 thousand.
e) Accounting policies:
See Note 2.
d. Market value and book value:
As of December 31, 1999, the market value and book value of the outstanding cross currency swap contracts are as
follows:
Forward contract receivable
Forward contract payable - foreign currency
Net book value (shown as other receivable)
Market value
B. Additional disclosure
Pursuant to the terms of the contracts, the premiums are delivered or paid on the trade date. As a result, neither
receivable or payable of premiums were recognized as
of December 31, 1999.
4) Elimination of transactions between intercompanies:
December 31, 1999
Intercompanies name Abbreviated name
Delta International Holding Ltd. DIH
Delta Networks, Inc. DNI
Delta Electronics International Ltd. DEIL
Delta Video Technology Ltd. DVT
Delta Electronics Components (Thailand) Co., Ltd. DEC
Delta Power Sharp Ltd. DPS
Newton Power Ltd. NPL
Significant transactions between the Company (DEI) and intercompanies are eliminated when preparing consolidated
financial statements. The details are as follows:
44

45
Transactions Companies Amount
1. Elimination of long-term investments
(1) Long-term investments, stockholders' equity
and minority interest DEI, DIH and DNI
(2) Elimination of investment income or loss
recognized (including realized and unrealized
gain or loss from DIH) DEI, DIH and DNI
(3) Elimination of upstream transactions DEIL and DEI
2. Elimination of intercompany receivable and
payable accounts
(1) Accounts receivable and accounts payable of DEI, DIH, DEIL, DVT,
downstream transactions DEC, DPS and NPL
(2) Accounts receivable and accounts payable of
upstream transactions DEI, DIH and DNI
(3) Accounts receivable and accounts payable of
sidestream transactions DNI and DEIL
3. Elimination of profit and loss accounts
(1) Sales and purchases transactions
A. Downstream transactions
A) Elimination of sales and purchases
transactions DEI, DEIL, DVT and DEC
B) Elimination of unrealized gain of
beginning inventories DEI and DEIL
C) Elimination of unrealized gain of
ending inventories DEI and DEIL
B. Upstream transactions
Elimination of sales and purchases DEIL and DEI, DNI and DEI
C. Sidestream transactions
Elimination of sales and purchases DEIL and DNI, DNI and DEIL
(2) Services revenue, sales expenses, management
and administrative expenses DEI, DEIL, DNI and DEIL
4. Elimination of minority interest DEI and DIH
5. Elimination of others transactions
(1) Leased assets transferred to property, plant and
equipment DEI and DNI
(2) Depreciation expenses of leased assets DEI and DNI
(3) Deposits-in and deposits-out DEI and DNI
(4) Elimination of rent revenue DEI and DNI

46
11. DISCLOSURE OF INFORMATION ON INDIRECT INVESTMENTS IN MAINLAND CHINA
A. Basic information
The basic information of investments in Mainland China as of December 31, 1998 were as follows: (Amounts: in thousand of dollars)
Shares held by the
Name of investee Company Investment amount Description
in Mainland China Main activities of investee Capital (Direct and indirect) and method of variance
Delta Electronics a. The operation: RMB 94.00 % Invested by DIH by cash -
(Dong Guan) Manufacturing of transformers (capacity not exceeding (converted to and machinery
Co., Ltd. 1000VA), switching power supplies, color monitor, etc.
b. The effect:
Lower operating cost due to cheaper labor, ease of
recruitment and low labor turnover
)
Deltron - Cimic a. The operation: RMB 15.91 % Invested by DIH by cash -
Electric and Manufacturing and sales of electronic products,
(converted to
Electronics Co., electronic ballasts for energy saving lighting, )
Ltd. (Shang Hai) color monitors (size: 17'' and below), CD-ROMs,
inductors under 100 VA (coil only), spare parts for
products listed under code 8504, other DC-DC
converters, uninterruptible power systems, and
transformers (capacity not exceeding 1000 VA)
b. The effect:
Sales expansion in Mainland China, with the
increase in service outlets
(Note)
Delta Electronics a. The operation: RMB 94.00% Invested by DIH by cash -
Industrial (Dong Manufacturing and sales of electronic ballast for (converted to
Guan) Co., Ltd. energy saving lighting and interface cards
b. The effect:
Lower operating cost due to cheaper labor, ease
of recruitment and lower labor turnover
)
(Note): The investments in RMB were converted to US at the exchange rate of RMB8.292.
Delta Electronics a. The operation:
RMB 94.00% Invested by DIH by cash -
Components Manufacturing and sales of transformers (converted to
(Dong Guan) Co., (capacity not exceeding 1000 VA), interface cards,
battery and other related products
b. The effect:
Lower operating cost due to cheaper labor, ease
of recruitment and lower labor turnover
)
Delta Electronics a. The operation:
- 94.00% Invested by DIH by -
Power (Dong Manufacturing and sales of other power supplies, (Note) machinery
Guan) Co., Ltd switching power supplies, transformers,
inductors under 100VA (coil only), spare parts for
products listed under code 8504, case, uninterruptible
power systems
b. The effect:
Lower operating cost due to cheaper labor, ease of
recruitment and lower labor turnover
Green Energy a. The operation:
RMB 33.59% Invested by YDT -
(Tianjin) Manufacturing and sales of battery and related products (converted to International Holding
Technology Ltd.
b. The effect:
Lower operating cost due to cheaper labor, ease of
recruitment and lower labor turnover
) Ltd. by cash
(Note): The capital has not been approved as of December 31, 1999 by the Mainland China authorities.

B. Change in investment balances and profit/loss recognized from the indirect investment (Amounts: in thousand of US dollars)
Name of investee
Beginning
investment Increase Decrease Ending balance Valuation Method of remittance
in Mainland China balance Reason Amount Reason Amount of investment method investment profit / loss
Delta Electronic
(Dong Guan) Co., Ltd.
$ 42,849 (Note 1) $ 4,605 - $ - $ 47,454 Equity method Remitted by DIH
Deltron - Cimic Electric
and Electronics Co., Ltd. (Shang Hai)
3,219 - - (Note 1) 154 3,065 Equity method Remitted by DIH
Delta Electronics Industrial
(Dong Guan) Co., Ltd.
1,800 (Note 2) 2,882 - - 4,682 Equity method Remitted by DIH
Delta Electronics Components
(Dong Guan) Co., Ltd.
2,700 (Note 2) 4,730 - - 7,430 Equity method Remitted by DIH
Delta Electronics Power
(Dong Guan) Co., Ltd.
- (Note 3) - (Note 1) 567 ( 567) Equity method Remitted by DIH
Green Energy (Tianjin) 1,588 - - (Note 1) 2,238 ( 650) Equity method Remitted by YDT International
Technology Ltd. Holding Ltd.
in Mainland China 1999 1998 1999 1998
fair value
Delta Electronics
(Dong Guan) Co., Ltd.
$ 5,636 $ 1,095 $ 4,641 $ 1,368 $ 47,454
Deltron - Cimic Electric
and Electronics Co., Ltd. (Shang Hai)
2,255 6,534 1,447 6,116 4,490
Delta Electronics Industrial
(Dong Guan) Co., Ltd.
( 662) - ( 667) - 4,682
Delta Electronics Components
(Dong Guan) Co., Ltd.
( 997) - ( 1,019) - 7,430
Delta Electronics Power
(Dong Guan) Co., Ltd.
( 326) - ( 567) - ( 567)
Green Energy (Tianjin) Technology
Ltd.
( 1,451) ( 1,125) ( 2,238) ( 2,224) ( 650)
(Note 1): Based on the investment gain or loss recognized and exchange rate effects.
(Note 2): Based on the capital increase, investment gain or loss recognized and exchange rate effects.
(Note 3): The capital has not been approved as of December 31, 1999 by the Mainland China authorities.
C. Major transactions with the investee in Mainland China:
Investment amount over US$1,000
Operating revenue Income before tax
Name of investee Net worth or
Major transactions between the Company and investee companies in Mainland China were through Delta Electronics International Ltd. (DEIL) in British Virgin Island. The details were as follows:
% of DEIL's Accounts % of DEIL's accounts
Name of investee in Mainland China Purchases/sales Amount purchase or sales receivable (payable) receivable (payable)
Delta Electronics (Dong Guan) Co., Ltd. Purchases $ 5,270,427 22 ($ 4,130,937) ( 16)
Delta Electronics Industrial (Dong Guan) Co., Ltd. Purchases 5,141,726 22 ( 5,141,726) ( 19)
Delta Electronics Components (Dong Guan) Co., Ltd. Purchases 682,970 3 ( 682,970) ( 3)
Delta Electronics Power (Dong Guan) Co., Ltd. Purchases 11,074,528 46 ( 11,074,528) ( 42)
Delta Electronics (Dong Guan) Co., Ltd. Sales 5,386,320 10 5,386,320 17
Delta Electronics Industrial (Dong Guan) Co., Ltd. Sales 5,499,292 10 5,499,292 18
Delta Electronics Components (Dong Guan) Co., Ltd. Sales 810,282 2 810,282 3
Delta Electronics Power (Dong Guan) Co., Ltd. Sales 10,688,597 20 10,688,597 34
Deltron-Cimic Electric and Electronics Co., Ltd. (Shang Hai) Sales 523,208 1 344,794 1
All of the above transactions were eliminated in the consolidated financial statements.
47

48
12. Disclosure information of investee company
The information of the consolidated subsidiary, DIH, was based on the reports of the other auditors. Pursuant to the SFC requirements, the related information of the Company, the subsidiary and the
investee company are as follows:
A. Financing activities to any company or person: None.
B. Guarantee information:
The limit The highest The outstanding The amount of
The ratio of
accumulated guarantee The ceiling of the
The Company or investee companies Name of parties Relationship with of guarantee outstanding guarantee guarantee amount guarantee with amount to net value outstanding guarantee
Number Name being guaranteed the Company for such party amount for 1999 at 12/31/1999 collateral placed of the Company to the respective party
(Note 1) (Note 2) (Note 3)
0 Delta Electronics, Inc. Delta Electronics
(Japan) Inc.
1 $ 615,200 $ 452,172 $ 452,172 - 2.23% (Note 4)
0 Delta Electronics, Inc. Delta Products Corp.
(USA)
2 313,950 313,950 313,950 - 1.55% (Note 4)
0 Delta Electronics, Inc. Delta Electronics
Europe Ltd.
2 313,950 78,487 78,487 - 0.39% (Note 4)
(Note 1): Number 0 represents the Company.
(Note 2): Number 1 means the Company directly owns over 50% of the shares of the subsidiary.
Number 2 means the Company has business transactions with the investee.
(Note 3): The limit was determined by the Board of Directors.
(Note 4): In accordance with the guarantee procedure of the Company, the Company's guarantee to others should not be in excess of 80% of the Company's net assets.
As of December 31, 1999, the maximum amount of guarantee that the Company can provide was $16,205,155.
C. Marketable securities held by Company at December 31, 1999:
December 31, 1999
The Company or Kind of Name of The relationship of the General Number Market value
investee companies marketable securities marketable securities issuers with the Company ledger accounts of shares Book value Percentage (Note 1)
Delta Electronics, Inc. Common Stock Delta Optoelectronics, Inc. Investee company accounted for
under the equity method
Long-term investments 10,992,000 $ 95,863 99.93 $ 95,863
Delta Electronics, Inc. Common Stock Vivitek Co., Ltd. Investee company accounted for
under the equity method
Long-term investments 21,101,385 48,211 75.36 48,211
Delta Electronics, Inc. Common Stock Delta Electronics (Japan) Inc. Investee company accounted for
under the equity method
Long-term investments 2,280 37,131 60.00 37,131
Delta Electronics, Inc. Common Stock Cyntec Co., Ltd. Investee company accounted for
under the equity method
Long-term investments 37,487,460 758,542 53.55 757,932
Delta Electronics, Inc. Common Stock Delta Electronics Europe Ltd. Investee company accounted for
under the equity method
Long-term investments 120,000 5,180 40.00 5,180
Delta Electronics, Inc. Common Stock Grand Advance Technology Ltd. Investee company accounted for
under the equity method
Long-term investments 9,000,000 146,647 36.00 133,494
Delta Electronics, Inc. Common Stock Yuasa Delta Technology Inc. Investee company accounted for
under the equity method
Long-term investments 43,668,801 266,414 33.59 266,571
Delta Electronics, Inc. Common Stock Analog and Power Electronics Corp. Investee company accounted for
under the equity method
Long-term investments 7,974,720 $ 59,681 22.15 $ 59,68
Delta Electronics, Inc. Common Stock Betacera Inc. - Long-term investments 3,679,650 39,000 19.96 37,4431

December 31, 1999
The Company or Kind of Name of The relationship of the General Number Market value
investee companies marketable securities marketable securities issuers with the Company ledger accounts of shares Book value Percentage (Note 1)
Delta Electronics, Inc. Common Stock Delta Electronics (Scotland) Ltd. - Long-term investments 475,000 24,154 19.00 18,939
Delta Electronics, Inc. Common Stock Optronics International Co., Ltd. Common chairman of the
Board of Directors
Long-term investments 6,591,150 65,912 16.48 60,837
Delta Electronics, Inc. Common Stock Acute Applied Technology, Inc. - Long-term investments 9,000,000 89,294 16.36 77,454
Delta Electronics, Inc. Common Stock Loyalty Founder Enterprise Co., Ltd. - Long-term investments 10,175,690 126,716 14.70 209,241
Delta Electronics, Inc. Common Stock Golden Card Multimedia Technology
Co., Ltd.
- Long-term investments 2,740,000 35,040 9.79 9,397
Delta Electronics, Inc. Common Stock Delta Electronics (Thailand) Certain shareholders of the Long-term investments 5,713,070 94,434 6.05 2,108,123
Public Co., Ltd. (DET) Company are shareholders of
DET
Delta Electronics, Inc. Common Stock WK Technology Fund IV - Long-term investments 7,050,000 70,500 5.88 93,929
Delta Electronics, Inc. Common Stock WK Technology Fund V - Long-term investments 7,000,000 70,000 5.83 71,385
Delta Electronics, Inc. Common Stock Susumu Co., Ltd. - Long-term investments 50,000 34,679 5.77 51,293
Delta Electronics, Inc. Common Stock WK Technology Fund - Long-term investments 6,725,500 76,332 5.60 122,637
Delta Electronics, Inc. Common Stock WK Technology Fund III - Long-term investments 4,372,350 42,450 3.54 65,958
Delta Electronics, Inc. Common Stock Macronix International Co., Ltd. - Long-term investments 59,688,324 279,508 3.04 2,907,418
Delta Electronics, Inc. Common Stock Allied Capital Partners Corp. - Long-term investments 50,000 500 2.94 492
Delta Electronics, Inc. Common Stock Zenitron Corporation - Long-term investments 1,000,000 60,000 2.50 21,466
Delta Electronics, Inc. Common Stock Sheng Hua Venture Capital Corp. - Long-term investments 5,000,000 50,000 2.50 50,616
Delta Electronics, Inc. Common Stock WK Technology Fund II - Long-term investments 836,000 11,704 0.84 16,409
Delta Electronics, Inc. Common Stock D-Link Co., Ltd. - Long-term investments 1,060,070 68,174 0.36 72,954
Delta Electronics, Inc. Common Stock President Securities Corp. - Long-term investments 1,236,040 5,000 0.11 31,952
Delta Electronics, Inc. Preferred Stock Prominent Communications, Inc. - Long-term investments 1,000,000 31,395 - 5,509
Delta Electronics, Inc. Preferred Stock Delta America Ltd. - Long-term investments 300,000 8,229 - 6,575
Delta Electronics, Inc. Preferred Stock Advanced Display Systems, Inc. - Long-term investments 2,816,901 - - -
Delta International Holding Ltd. Common Stock Newton Power Ltd. DIH's subsidiary accounted
for under the equity method
Long-term investments 840,000 13,872 41.57 13,872
Delta International Holding Ltd. Common Stock DAT Holding Ltd. DIH's subsidiary accounted
for under the equity method
Long-term investments 8,140,000 70,671 37.00 70,671
Delta International Holding Ltd. Common Stock Delcom Electronics Co. Ltd. DIH's subsidiary accounted
for under the equity method
Long-term investments 20,000,000 86,118 25.00 86,118
Delta International Holding Ltd. Common Stock Deltron-Cimic Electric and DIH's subsidiary accounted Long-term investments - $ 96,244 16.93 $ 96,244
Electronics Co., Ltd. (Shang Hai) for under the equity method
Delta International Holding Ltd. Common Stock Delta Electronics (Thailand) Certain shareholders of the Long-term investments 9,933,893 2,652,011 10.51 3,688,232
Company are shareholders of Public Co., Ltd. (DET) Company are shareholders of
DET
Delta International Holding Ltd. GDR D-Link Co., Ltd. - Long-term investments 10,780,000
(Note 2)
623,341 3.62 733,040
Delta International Holding Ltd. Convertible bonds SynQor, LLC - Long-term investments 3,000,000 94,185 - 94,185
DAC Holding Ltd. Preferred Stock KC Technology Inc. - Long-term investments 500,000 15,697 - 15,697
Delta Networks, Inc. (DNI) Common Stock Addtron Technology Co., Ltd. DNI's subsidiary accounted for
under the equity method
Long-term investments 700,000 22,132 70.00 ( 9,871)
Cyntec Co., Ltd. Beneficiary Certificates T.I.I.M Bond Fund - Short-term investments 6,230,489 73,000 - 73,111
Cyntec Co., Ltd. Beneficiary Certificates P.I.S.I.T. Dehli-Li Fund - Short-term investments 1,590,015 20,000 - 20,066
Cyntec Co., Ltd. Beneficiary Certificates First Global Duoli Assets
Income Fund
- Short-term investments 4,502,010 62,600 - 62,693
Cyntec Co., Ltd. Beneficiary Certificates First Global Duoli No. 2
Assets Income Fund
- Short-term investments 5,074,480 62,000 - 62,092
Cyntec Co., Ltd. Beneficiary Certificates R.S.I.T. Forever Fund - Short-term investments 1,502,968 18,000 - 18,018
Cyntec Co., Ltd. Beneficiary Certificates Core Pacific Bond Fund - Short-term investments 3,868,562 50,000 - 50,049
Cyntec Co., Ltd. Beneficiary Certificates Money Mgnt Fund - Short-term investments 840,435 10,000 - 10,009
Cyntec Co., Ltd. Beneficiary Certificates Grand Pacific Bond Fund - Short-term investments 5,327,905 67,000 - 67,051
Cyntec Co., Ltd. Beneficiary Certificates N.I.T. Taiwan Bond Fund - Short-term investments 1,706,849 20,000 - 20,003
(Note 1): The market values of long-term investments are their fair values, unless market value is not available, in which case the investee companies' net equity or other financial information are considered as the fair values.
(Note 2): 1 unit GDR = 5 shares of common stock; DIH owns 2,156,000 units of GDR, which is equal to 10,780,000 shares of common stock.
49

50
D. Marketable securities acquired or sold during 1999 or held as of December 31, 1999 in excess of $100,000 or over 20% of capital:
Beginning Balance Addition Disposal Ending Balance
The Company or Number Number Number Number Disposal
investee company Name of marketable security of shares Amount of shares Amount of shares Amount of shares Amount gain (or loss)
Delta Electronics, Inc. Cyntec Co., Ltd. 32,597,792 $ 687,653 4,889,668 $ 97,703 - ($ 26,814) 37,487,460 $ 758,542 -
(Note 1) (Note 2) (Note 3)
Delta Electronics, Inc. Delta Optoelectronics, Inc. - - 10,992,000 109,920 - ( 14,057)
(Note 2)
10,992,000 95,863 -
Delta Electronics, Inc. Macronix International Co., Ltd. 82,147,931 423,149 7,244,393
(Note 1)
- (29,704,000) ( 143,641) 59,688,324 279,508 818,225
Delta Electronics, Inc. Yuasa Delta Technology Inc. 36,950,524 308,732 6,718,277 67,182 - ( 109,500)
(Note 2)
43,668,801 266,414 -
Delta Electronics, Inc. Grand Advance Technology Ltd. 9,000,000 $ 135,277 - $ 11,370
(Note 2)
- $ - 9,000,000 $ 146,647 -
Delta Electronics, Inc. Loyalty Founder Enterprise Co., Ltd. 7,827,454 126,716 2,348,236
(Note 1)
- - - 10,175,690 126,716 -
Delta International Holding Delta Electronics (Thailand) 1,997,800 317,333 7,936,093 2,334,678 - - 9,933,893 2,652,011 -
Ltd.
Public Co., Ltd.
Delta International Holding GDR of D-Link Co., Ltd. 9,800,000 639,523 980,000 - - ( 16,182) 10,780,000 623,341 -
Ltd.
(Note 1) (Note 4) (Note 5)
Cyntec Co., Ltd. T.I.I.M. Bond Fund - - 10,910,203 126,000 (4,679,714) ( 53,000) 6,230,489 73,000 1,868
Cyntec Co., Ltd. First Global Duoli No. 2
Assets Income Fund
- - 10,354,740 124,000 (5,280,260) ( 62,000) 5,074,480 62,000 2,514
Cyntec Co., Ltd. Grand Pacific Bond Fund - - 10,848,751 134,000 (5,520,846) ( 67,000) 5,327,905 67,000 2,426
(Note 1): Represents stock dividends.
(Note 2): Represents investment income (or loss) under the equity method.
(Note 3): Represents cash dividends received on long-term investments accounted under equity method and the proportionate share of adjustment to subsidiaries' capital reserve.
(Note 4): Represents the cumulative translation adjustment for foreign investee companies and adjustment for change in investee companies' capital reserve.
(Note 5): 1 unit GDR = 5 shares of common stock; DIH owns 2,156,000 units of GDR, which is equal to 10,780,000 shares of common stock.
E. Acquired long-term equity investment or real estate in excess of $100,000 or over 20% of capital:
The Company or Type of Date of Transaction Status of Relationship
Information concerning previous seller
if the previous seller is a related party
Relationship with Price Purpose for Other
investee company property transaction amount payment Counterparty with the Company Previous seller the Company Date Cost reference acquisition commitments
Delta Electronics, Fixed assets June 6 to $ 341,559 Remitted Nan Ya Plastics - - - - - Appraisal report For production None
Inc. December
31, 1999
Corporation and office
Delta Electronics, Long-term December 3, 109,920 Remitted Delta Investee company - - - - Initial capital Long-term None
Inc. investment - 1999 Optoelectronics, accounted for (Based on the investment
Delta Inc. under the equity par value)
Optoelectronics,
Inc.
method
Delta International Long-term May 17 to 2,334,678 Remitted Stock market Certain shareholders - - - - Market value Long-term None
Holding Ltd. investment - December 7, of the Company investment
` Delta Electronics 1999 are shareholders
(Thailand)
Public Co., Ltd.
of DET
Delta International Buildings September 8, 145,745 Bank Winrise - - - - - Market value For office None
Holding Ltd. 1999 promissory
note
Champion Ltd. building

F. Disposal of long-term equity investment or real estate in excess of $100,000 or over 20% of capital:
Acquisition Status Relationship
The Company or Type of Date of date of the of payment Disposal gain with the Reason for Price Other
investee company property transaction sold properties Book value Selling price or receipt (or loss) Counterparty Company disposal reference commitments
Delta Electronics Long-term April 2, 1999 August 25, $ 143,641 $ 961,866 Received $ 818,225 Taiwan Stock - Short-term Market value None
Inc. investment- to August 1989 to Exchange financing
Macronix 27, 1999 September
International
Co., Ltd.
23, 1998
G. Related party purchases or sales transactions in excess of $100,000 or over 20% of capital
Description of and reasons for
Transaction terms difference in transaction terms Accounts or Notes receivable (payable)
% of total compared to non-related party % of total
The Company or Name of the Relationship purchases different transactions accounts or notes
investee company counterparty with the Company Purchases (sales) Amount (sales) Credit terms Unit price Credit period Balance receivable (payable)
Delta Electronics, Delta Electronics Investee company Purchases $ 693,674 3 75 days credit from the first $ - - ($ 118,780) 2
Inc. and (Japan) Inc. accounted for day of the month following
subsidiary under equity the month of purchase
method completion.
Delta Electronics, Delta Electronics Certain shareholders Purchases 652,648 2 75 days credit from the first - - ( 223,057) ( 3)
Inc. and (Thailand) of the Company day of the month following
subsidiary Public Co., Ltd. are shareholders of the month of purchase
DET completion.
Delta Electronics, Delta Electronics Investee company Sales 1,573,937 4 75 days credit from the first - - 709,134 7
Inc. and Europe Ltd. accounted for day of the month following
subsidiary under equity the month of sales
method completion.
Delta Electronics, Delta Electronics Related party of the Sales 383,265 1 75 days credit from the first - - 303,748 3
Inc. and (Thailand) Company day of the month following
subsidiary Public Co., Ltd. the month of sales
completion.
Delta Electronics, Delta Electronics Investee company Sales 176,365 1 75 days credit from the first - - 25,284 -
Inc. and (Japan) Inc. accounted for day of the month following
subsidiary under equity method the month of sales
completion.
Delta Electronics Addtron Technology Investee company Sales 160,219 100 75 days credit from the first - - 49,420 92
Inc. and Co., Ltd. accounted for day of the month following
subsidiary under equity method the month of sales
completion.
Delta Electronics Delta Electronics, Investee company Sales 693,674 58 75 days credit from the first - - 118,780 96
(Japan) Inc. Inc. and accounted for day of the month following
subsidiaries under equity method the month of sales
completion.
Addtron Technology Delta Electronics, Parent company Purchases $ 160,219 100 75 days credit from the first - - ($ 49,420) ( 92)
Co., Ltd. Inc. and day of the month following
subsidiaries the month of purchase
completion.
Cyntec Co., Ltd. Susumu Co., Ltd. Director of Cyntec Sales 183,507 19 60 days credit from the first - 60~90 days credit 42,646 16
Co., Ltd. day of the month following from the first day
the month of sales of the month
completion. following the
month of sales
completion
Cyntec Co., Ltd. Susumu Co., Ltd. Director of Cyntec Purchases 144,150 38 60 days credit from the first - 60~90 days credit ( 38,584) ( 35)
Co., Ltd. day of the month following from the first day
the month of purchase of the month
completion. following the
completion
51

52
H. Receivable from related parties in excess of $100,000 or over 20% of capital:
Overdue receivable Subsequent Allowance
The Company or Name of Relationship with Balance of receivable Action adopted for collections for doubtful
investee company the counterparty the Company from related parties Turnover rate Amount overdue accounts (Note) accounts provided
Delta Electronics, Inc. Delta Electronics Europe Investee company Accounts receivable $ 709,134 2.37 $ 2,653 Collected $ 373,751 253
Ltd. accounted for under Other receivables 1,569 - - - - -
equity method
Delta Electronics, Inc. Delta Electronics Co., Ltd. Certain shareholders of Accounts receivable 303,748 1.71 153,476
(Thailand) Public the Company are Other receivables 67,363 - - Collection expected in 77,826 29
shareholders of DET March and April, 2000 - -
(Note): The amounts received as of February 23, 2000.
I. Information on derivative transactions:
Except for the Company and its consolidated subsidiary, DNI, who entered into certain derivative transactions, there are no derivative transactions in the investee companies. Please refer to Note 10 (3).

J. Information of investee company:
Held by the Company Investment income
Number Income (loss) of the (loss) recognized
Investee company Address Main operation items of shares Rate Book value investee company by the Company Note
Delta Optoelectronics, Inc.
Vivitek Co., Ltd.
Delta Electronics (Japan)
Inc.
Cyntec Co., Ltd.
Delta Electronics Europe
Ltd.
Grand Advance Technology
Ltd.
Yuasa Delta Technology
Inc.
Analog and Power
Electronics Corp.
Luke Network Consulting
Co., Ltd.
Addtron Technology
Co., Ltd.
No. 4 Innovative 1st Road.,
Science-Based Industrial
Park Hsin-Chu, Taiwan
2F, 27 Industrial East 9th Rd.
Science-Based Industrial
Park Hsinchu, Taiwan
17-18 Nishimagome 2-
Chome, Ohta-Ku, Tokyo
143, Japan
No. 4 Innovative 1st Road.,
Science-Based Industrial
Park Hsin-Chu, Taiwan
2 Young Place, Kelvin
Industrial Estate, East
Kilbride, Glasgow G75
OTD, UK
200, Tatung Rd, Sec. 3, Hsichih,
Taipei Hsien, Taiwan
No. 22, Park Avenue II,
Science-Based Industrial
Park, Hsinchu, Taiwan
5F, 2 Li-Hsin Rd, SBIP
Hsinchu, Taiwan
-
4425 Cushing Parkway
Fremont, Ca 94538 U.S.A.
Development, manufacturing and sales
displays with polymer light emission
display (DLEM) and carbon nanotube
electronic emitter (CNT)
technologies
Development, design, manufacturing
and sales of optoelectronics displays
& components
Trading and import/export of the
related equipment, components and
materials for telecom system,
computer system and instruments
Research, development, manufacturing
and sales of various thin film
components, such as thermal printer
head, temperature sensor and its
application modules, chip resistors
and hybrid circuits
Development, manufacturing,
marketing and sales, and technical
service of electronic/electrical
components and products
Manufacturing and sales of CD, LCD,
CDR, VCD and DVD
Research, development, manufacturing
and sales of rechargeable NiMH
battery and the import/export business
of the related products
Research, development,
manufacturing, sales and consultant
service of frequency IC, analog IC
and other related components
-
Networking product sales
10,992,000
21,101,385
2,280
37,487,460
120,000
9,000,000
43,668,801
7,974,720
-
700,000
99.93
75.36
60.00
53.55
40.00
36.00
33.59
22.15
-
70.00
$ 95,863
48,211
37,131
758,542
5,180
146,647
266,414
59,681
-
22,132
($
(
(
(
(
14,067 )
48,587
1,206
180,797
634
40,716
325,991 )
32,067 )
184 )
44,195 )
($
(
(
(
(
14,057)
36,615)
587
97,703
254
11,370
109,500)
7,398)
184)
-
-
-
The average shareholding
ratio was 45.658%
The average shareholding
ratio was 54.04%
-
The investment loss included
the amortization of the
excess of investment cost
over the net assets
-
The average shareholding
ratio was 23.07%
The investee company was
liquidated in
October,1999
(Note 1)
Newton Power Ltd.
DAT Holding Ltd.
Delcom Electronics
Co., Ltd.
Deltron-Cimic Electric and
Electronics Co., Ltd.
(Shang Hai)
9F, Manhattan Center, 8
Kwai Cheong Rd., Kwai
Chung, N.T., Hong Kong
1209 Orange St., In the City
of Wilmington, Country of
New Castle, Delaware
19801
908 Moo 4, Tambon Prakasa,
Amphur Muang
Samutprakan, Samutprakan
province 10280, Thailand
238, Min Xia Lu, Cao Lu
Industry Zone of Gulu, Pu
Dong Shanghai
Electronic product sales
Equity investment
Manufacturing and sales of electronic
products
Manufacturing and sales of electronic
products, electronic ballasts for
energy saving lighting, color monitors
(size: 17'' and below), CD-ROMs,
inductors under 100 VA (coil only),
spare parts for products listed under
code 8504, other DC-DC converters,
uninterruptible power systems, and
transformers (capacity not exceeding
1000 VA)
840,000
8,140,000
20,000,000
-
41.57
37.00
25.00
16.93
$ 13,872
70,671
86,118
96,244
$
(
(
4
446,738 )
2,415 )
46,687
$
(
(
(
2
159,483)
601)
4,312)
(Note 2)
(Note 2)
(Note 2)
(Note 2)
(Note 1): As discussed in Note 4(4), DNI did not recognize the investment income or loss in 1999 due to the short period from date of acquisition and DNI considered it is not material.
(Note 2): Investment income recognized by the consolidated subsidiary, DIH.
53

13. SEGMENTAL FINANCIAL INFORMATION
A. Financial information by industry
The Company operates in one single industry - the electronics industry.
Accordingly, no different industry information is presented in 1999 and 1998.
B. Financial information by geographic area
Geographic area information in 1999 and 1998 were as follows:
Operating revenues
from unaffiliated
Asia Others
1999
Domestic Elimination Consolidation
customers $16,018,872 $ 413,740 $23,236,192 $ -
$ 39,668,804
Operating revenues
from other
segments of the
Company 15,765,139 - 3,219,143 ( 18,984,282) -
Total operating
revenues $31,784,011 $ 413,740 $26,455,335 ($ 18,984,282) $ 39,668,804
Segment profits
(losses) $ 6,009,684 ($ 92,774) $ 856,948 ($ 2,333,974) $ 4,439,884
Investment loss
under equity
method ( 222,234)
General income 426,810
Interest expense ( 171,041)
Net income before
income tax $ 4,473,419
Identifiable assets $16,557,694 $ 875,787 $15,680,315 ($ 4,939,533) $ 28,174,263
Long-term
investments 6,374,961
General assets -
Total assets $ 34,549,224
Depreciation
expense $ 336,474 $ 21,739 $ 301,354 $ 659,567
Capital
expenditures $ 1,731,333 $ 140,064 $ 1,417,526 $ 3,288,923
54

55
Asia Others
1998
Domestic Elimination Consolidation
Operating revenues
from unaffiliated
customers
Operating revenues
from other
segments
$15,325,097 $ 2,336 $10,808,449 $ - $ 26,135,882
of the Company
Total operating
3,263,507 - 1,678,730 ( 4,942,237) -
revenues
Segment profits
$18,588,604 $ 2,336 $12,487,179 ($ 4,942,237) $ 26,135,882
(losses)
Investment loss
under equity
$ 4,056,844 ($ 6,949) $ 575,060 ($ 1,569,651) $ 3,055,304
method ( 140,778)
General income ( 80,554)
Interest expense
Net income before
( 160,368)
income tax $ 2,673,604
Identifiable assets
Long-term
$10,145,856 $ 261,347 $ 9,943,338 ($ 1,398,966) $ 18,951,575
investments 4,038,299
General assets -
Total assets
Depreciation
$ 22,989,874
expense
Capital
$ 293,602 $ 1,822 $ 238,381 $ 533,805
expenditures $ 1,152,329 $ 227,067 $ 812,154 $ 2,191,550
C.Information about export sales
The export sales of the Company in 1999 and 1998 were as follows:
Destination
1999 1998
U.S.A. $ 13,859,988 $ 8,539,385
Southeast Asia 8,704,542 7,906,070
Europe 6,305,051 3,716,990
Northeast Asia 866,971 796,957
Americas 848,055 458,665
Others 454,572 288,247
$ 31,039,179 $ 21,706,314
D. Major customer information
The Company's sales to a single customer in excess of 10% of net consolidated operating revenue in 1999 and 1998 are
both none.

February 23, 2000
(00)R.D24P.4057
To Delta Electronics, Inc.
We have examined the balance sheet of Delta Electronics, Inc. as of December 31, 1999 and 1998, and the related
statements of income, of changes in stockholders' equity and of cash flows for the years then ended. These financial
statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits. As explained in Note 4(4), the financial statements of certain investee
companies for the years ended December 31, 1999 and 1998, accounted for under the equity method, were examined by
other auditors whose reports thereon have been furnished to us. The total amount of long-term investments in these
investee companies at December 31, 1999 and 1998 was $12,372,337,000 and $7,441,594,000, respectively, and the
related investment income for the years then ended were $3,040,313,000 and $2,375,107,000, respectively. Our opinion
expressed herein, insofar as it relates to the amounts included in the financial statements relative to these long-term
investments is based solely on the reports of the other auditors. Information of certain investee companies disclosed in
Note 12 were based on the reports of the other auditors.
We conducted our audits in accordance with the "Rules Governing Examinations of Financial Statements by Certified
Public Accountants" and generally accepted auditing standards in the Republic of China. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our audits and the other auditors audit report
provide a reasonable basis for our opinion.
In our opinion, based on our examinations and the reports of other auditors, the financial statements referred to above
present fairly, in all material respects, the financial position of Delta Electronics, Inc. as of December 31, 1999 and
1998, and the results of its operations and its cash flows for the years then ended, in conformity with the "Rules
Governing Preparation of the Financial Statements of Securities Issuers" and generally accepted accounting principles
in the Republic of China.
As indicated in Note 2, the accompanying financial statements are not intended to present the financial position and
results of operations and cash flows in accordance with accounting principles and practices generally accepted in
countries and jurisdictions other than the Republic of China. The standards, procedures and practices utilized in the
Republic of China to audit such financial statements may differ from those generally accepted in countries and
jurisdictions other than the Republic of China.
We have also audited the consolidated financial statements of Delta Electronics, Inc. and its subsidiaries for the years
ended December 31, 1999 and 1998. Our report on those consolidated financial statements was unqualified.
56

DELTA ELECTRONICS, INC.
BALANCE SHEET
DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
1999 1998 1999 1998
Amount % Amount % Amount % Amount %
ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY
Current Assets Current Liabilities
Cash and cash equivalents (Note 4(1)) $ 2,312,296 8 $ 1,914,434 10 Short-term loans (Notes 4(7) and 6) $ 1,344 - $ 85,540 1
Notes receivable - net 248,121 1 184,260 1 Accounts payable 1,355,247 5 1,162,406 6
Accounts receivable - net (Note 4(2)) 3,890,480 13 1,755,451 9 Accounts payable - related parties (Note 5) 3,767,007 13 857,123 4
Accounts receivable - related parties (Note 5) 718,933 3 915,161 5 Income tax payable (Note 4(16)) 10,349 - - -
Other receivables (Note 4(16)) 226,746 1 185,397 1 Accrued expenses 728,035 2 794,693 4
Other receivables - related parties (Note 5) 281,228 1 240,978 1 Other payables 203,096 1 145,682 1
Inventories (Note 4(3)) 1,599,569 5 1,090,350 5 Received in advance 65,274 - 19,029 -
Prepaid expenses 4,812 - 11,611 - Current portion of long-term loans (Notes 4(9) and 6) 4,636 - 6,182 -
Prepayments 11,450 - 12,755 - Other current liabilities 146,513 - 35,740 -
Other current assets (Notes 4(16) and 6) 575,893 2 410,367 2 6,281,501 21 3,106,395 16
9,869,528 34 6,720,764 34 Long-Term Liabilities
Funds and Long-term Investments
Convertible bonds (Note 4(8)) 179,146 1 1,674,588 8
Long-term investments (Note 4(4)) 15,578,302 53 10,056,787 51 Long-term loans (Notes 4(9) and 6) - - 4,636 -
Cash surrender value of life insurance 56,064 - 49,938 - 179,146 1 1,679,224 8
Prepayment for long-term investments - - 20,000 - Reserve
Property, Plant and Equipment (Notes 4(5) and 6)
15,634,366 53 10,126,725 51 Reserve for land value incremental tax (Note 4(5)) 97,283 - 107,740 -
Cost
Other Liabilities
Land 1,037,856 4 652,003 3 Reserve for retirement plan (Note 4(10)) 378,209 2 304,176 2
Buildings and equipment 1,250,154 4 658,372 3 Deposits - in 4,212 - 10,246 -
Machinery and equipment 600,041 2 582,673 3 Deferred income tax liabilities (Note 4(16)) 2,129,143 7 1,389,625 7
Molds 327,880 1 218,174 1 Other liabilities - others 2,601 - 1,710 -
Computer and communication equipment 283,461 1 168,460 1 2,514,165 9 1,705,757 9
Test equipment 622,935 2 577,132 3 Total Liabilities 9,072,095 31 6,599,116 33
Motor vehicles 18,432 - 22,038 -
Furniture and fixtures 110,160 - 101,558 1 Stockholders' Equity
Leasehold improvements 2,018 - 12,772 - Common stock (Notes 1 and 4(11)) 7,345,341 25 5,606,858 28
Land value appraisal increment 168,738 1 222,454 1 New share entitlement certificates (Note 4(12)) 132,230 - 12,227 -
Cost and appraisal increment 4,421,675 15 3,215,636 16 Capital reserve (Note 4(13))
Less: Accumulated depreciation ( 1,122,996) ( 4) ( 1,060,071) ( 5) Premium 6,425,721 22 2,198,025 11
Prepayments for equipment and construction in progress 147,873 1 666,806 3 Others 255,603 1 245,718 2
3,446,552 12 2,822,371 14 Retained earnings
Other Assets
Legal reserve (Note 4(14)) 1,062,112 4 839,745 4
Leased assets (Notes 4(6) and 5) 87,209 - - - Undistributed earnings (Note 4(15)) 4,733,442 16 3,828,854 19
Deposits - out 23,195 - 20,938 - Cumulative translation adjustments 301,995 1 611,630 3
Deferred charges 267,689 1 251,375 1 Total Stockholders' Equity 20,256,444 69 13,343,057 67
378,093 1 272,313 1
Subsequent Events (Note 9)
TOTAL ASSETS $ 29,328,539 100 $ 19,942,173 100 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 29,328,539 100 $19,942,173 100
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.
57

DELTA ELECTRONICS, INC.
STATEMENT OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT EARNINGS PER SHARE DATA)
1999 1998
Amount % Amount %
Operating revenues (Note 5)
Sales revenue $ 19,597,569 89 $ 10,935,029 88
Sales returns ( 92,710) - ( 124,858) ( 1)
Sales allowances ( 150,525) ( 1) ( 85,685) ( 1)
Net sales revenue 19,354,334 88 10,724,486 86
Services revenue 2,531,157 12 1,760,805 14
Total operating revenues
Operating costs
21,885,491 100 12,485,291 100
Cost of goods sold (Note 5) ( 18,864,681) ( 86) ( 10,057,977) ( 81)
Gross profit 3,020,810 14 2,427,314 19
Unrealized intercompany profit ( 2,601) - ( 1,710) -
Realized intercompany profit 19,938 - 59,958 1
Net gross profit
Operating expenses
3,038,147 14 2,485,562 20
Selling ( 746,510) ( 4) ( 663,774) ( 6)
Management and administrative ( 604,404) ( 3) ( 534,463) ( 4)
Research and development ( 1,610,416) ( 7) ( 1,248,615) ( 10)
Total operating expenses ( 2,961,330) ( 14) ( 2,446,852) ( 20)
Operating income 76,817 - 38,710 -
Non-operating income
Interest income 168,718 1 146,311 1
Investment income 3,142,754 15 2,360,275 19
Gain on disposal of property, plant and equipment 43,965 - 12,556 -
Gain on disposal of investments 826,432 4 3,012 -
Foreign exchange gain, net 53,247 - 5,583 -
Reversal of allowance for doubtful accounts - - 34,000 1
Other income (Note 5) 266,481 1 280,116 2
Total non-operating income
Non-operating expenses
4,501,597 21 2,841,853 23
Interest expense ( 158,788) ( 1) ( 156,601) ( 1)
Loss on disposal of property, plant and equipment
Provision for decline in market value and
( 11,705) - ( 5,887) -
obsolescence of inventory ( 29,364) - - -
Other losses ( 71,367) - ( 102,289) ( 1)
Total non-operating expenses ( 271,224) ( 1) ( 264,777) ( 2)
Income before income tax 4,307,190 20 2,615,786 21
Income tax (Note 4(16)) ( 659,304) ( 3) ( 380,415) ( 3)
Net income
Earnings per share (Note 4(17)) (In dollars)
$ 3,647,886 17 $ 2,235,371 18
Net income $ 5.12 $ 3.36
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.
58

1998
DELTA ELECTRONICS, INC.
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
Capital Stock Retained Earnings
New share Cumulative
entitlement Capital Legal Undistributed translation
Common stock certificates reserve reserve earnings adjustments Total
Balance at January 1, 1998
Distribution of 1997 earnings:
$ 4,467,025 $ 107,546 $ 2,015,963 $ 609,647 $ 3,531,746 $ 775,352 $ 11,507,279
Directors' and supervisors' remuneration - - - - ( 1,500) - ( 1,500 )
Appropriation for legal reserve - - - 230,098 ( 230,098) - -
Issuance of stock dividends 914,914 - - - ( 914,914) - -
Employees' bonus 90,515 - - - ( 90,515) - -
Cash dividends - - - - ( 711,470) - ( 711,470 )
Unpaid dividends on unconverted convertible bonds
Convertible bonds converted into new share entitlement certificates
- - - - 21,929 - 21,929
New share entitlement certificates issued - 39,085 - - - - 39,085
Premium from conversion of convertible bonds - - 363,532 - - - 363,532
Unpaid interest payable of convertible bonds - - 1,214 - - - 1,214
Common stock issued for conversion of entitlement certificates 134,404 ( 134,404) - - - - -
Proportionate share of adjustment to subsidiaries' capital reserves - - ( 23,028 ) - - - ( 23,028 )
Adjustment due to change in capital reserve of the investee companies
Transfer of gain on disposal of property, plant and equipment to capital reserve
- - 52,720 - - - 52,720
by the investee companies - - 964 - ( 964) - -
Appraisal increment of land value - - 21,647 - - - 21,647
Gain on disposal of property, plant and equipment transferred to capital reserve - - 10,731 - ( 10,731) - -
Cumulative translation adjustments on foreign long-term investments - - - - - ( 163,722) ( 163,722 )
Net income for the year - - - - 2,235,371 - 2,235,371
Balance at December 31, 1998 5,606,858 12,227 2,443,743 839,745 3,828,854 611,630 13,343,057
1999
Distribution of 1998 earnings:
Directors' and supervisors' remuneration - - - - ( 1,500) - ( 1,500 )
Appropriation for legal reserve - - - 222,367 ( 222,367) - -
Issuance of stock dividends 1,123,817 - - - ( 1,123,817) - -
Employees' bonus 110,098 - - - ( 110,098) - -
Cash dividends - - - - ( 1,231,513) - ( 1,231,513 )
Unpaid dividends on unconverted convertible bonds
Convertible bonds converted into new share entitlement certificates
- - - - 25,639 - 25,639
New share entitlement certificates issued - 624,571 - - - - 624,571
Premium from conversion of convertible bonds - - 4,227,696 - - - 4,227,696
Unpaid interest payable of convertible bonds - - 15,464 - - - 15,464
Common stock issued for conversion of entitlement certificates 504,568 ( 504,568) - - - - -
Proportionate share of adjustment to subsidiaries' capital reserves - - ( 10,572) - ( 35,703) - ( 46,275 )
Adjustment due to change in capital reserve of the investee companies
Transfer of gain on disposal of property, plant and equipment to capital reserve
- - ( 38,946) - - - ( 38,946 )
by the investee companies - - 2,052 - ( 2,052) - -
Gain on disposal of property, plant and equipment transferred to capital reserve
Adjustment due to transfer of capital reserve by the investee companies to cover
- - 42,833 - ( 42,833) - -
prior year's operating losses - - ( 946) - 946 - -
Cumulative translation adjustments on foreign long-term investments - - - - ( 309,635) ( 309,635)
Net income for the year - - - - 3,647,886 - 3,647,886
Balance at December 31, 1999 $ 7,345,341 $ 132,230 $ 6,681,324 $ 1,062,112 $ 4,733,442 $ 301,995 $ 20,256,444
Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.
59

DELTA ELECTRONICS, INC.
STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
1999 1998
Cash flows from operating activities
Net income
Adjustments to reconcile net income to net cash
provided by operating activities:
$ 3,647,886 $ 2,235,371
Bad debts expense 23,000 -
Depreciation and amortization
Investment income, net of gain on disposal
489,688 356,850
of investments
Gain on disposal of property, plant and equipment,
( 3,892,206) ( 2,259,183)
net ( 32,260) ( 6,669)
Reversal of allowance for doubtful accounts
Exchange gain on revaluation of foreign
- ( 34,000)
currency denominated convertible bonds
Provision for decline in market value and
( 80,081) ( 7,490)
inventory obsolescence 29,364 -
Provision for interest payable on bonds redemption
Accrued interest on convertible bonds transferred
134,104 138,584
to capital reserve
Changes in assets and liabilities:
15,464 1,214
Increase in notes receivable ( 63,861) ( 17,971)
(Increase) decrease in accounts receivable
Decrease (increase) in accounts receivable
( 2,158,029) 1,022,747
- related parties 196,228 ( 200,204)
Increase in other receivables
(Increase) decrease in other receivables
( 41,349) ( 85,055)
- related parties ( 40,250) 44,852
(Increase) decrease in inventories ( 538,583) 79,176
Decrease (increase) in prepaid expense 6,799 ( 11,611)
Decrease in prepayments 1,305 28,914
Increase in other current assets ( 165,526) ( 129,732)
Increase (decrease) in accounts payable 192,841 ( 42,034)
Increase in accounts payable - related parties 2,909,884 38,956
Increase (decrease) in income tax payable 10,349 ( 93,377)
(Decrease) increase in accrued expenses ( 66,658) 58,987
Increase (decrease) in other payables 57,414 ( 50,353)
Increase (decrease) in received in advance 46,245 ( 10,756)
Increase (decrease) in other current liabilities 110,773 ( 48,754)
Increase in reserve for retirement plan 74,033 96,781
Increase in deferred income tax 739,518 570,767
Increase (decrease) in other liabilities - others 891 ( 3,662)
Net cash provided by operating activities 1,606,983 1,672,348
60

61
Corporate Information
Corporate Headquarters
Delta Electronics, Inc.
186 Ruey Kuang Road
Neihu, Taipei (114)
Taiwan, R.O.C.
Tel: 886-2-87972088
Fax: 886-2-87972120
Stock Listing
The common stock of Delta Electronics, Inc.
is traded on the Taiwan Stock Exchange.
(TSE Code: 2308)
Transfer Agent and Registrar
For questions about transfer procedures or
other stock account matters, please contact:
MasterLink Securities Corporation
6/F, 97 Tun Hua S. Road, Sec. 2
Taipei, Taiwan, R.O.C.
Tel: 886-2-23253800
Fax: 886-2-27548223
Investor Relations
For copies of financial reports and other
investor information, please contact:
Yancey Hai or Karen Huang
Tel: 886-2-87972088
Fax: 886-2-87972434
E-mail: yancey.hai@delta.com.tw or
karen.huang@delta.com.tw