1999 Annual Report - Delta Electronics

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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 30
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.
Page 1 and 2: DELTA ELECTRONICS, INC. Annual Repo
Page 3 and 4: 3 1999 Annual Report Message from t
Page 5 and 6: 7 1999 Annual Report Major Products
Page 7 and 8: 11 1999 Annual Report Manufacturing
Page 10 and 11: 17 1999 Annual Report Financial Sta
Page 12 and 13: DELTA ELECTRONICS, INC. CONSOLIDATE
Page 14 and 15: DELTA ELECTRONICS, INC. CONSOLIDATE
Page 16 and 17: DELTA ELECTRONICS, INC. NOTES TO CO
Page 18 and 19: Inventories Inventories are stated
Page 20 and 21: transition is amortized equally ove
Page 24 and 25: 32 5) Property, plant and equipment
Page 26 and 27: The initial conversion price, which
Page 28 and 29: 13) Legal reserve The R.O.C Company
Page 30 and 31: payment of the final tax assessment
Page 32 and 33: G. Accounts payable DET DEJ Others
Page 34 and 35: short-term loan, accounts payable,
Page 36 and 37: When the contracts mature, there wi
Page 38 and 39: 46 11. DISCLOSURE OF INFORMATION ON
Page 40 and 41: 48 12. Disclosure information of in
Page 42 and 43: 50 D. Marketable securities acquire
Page 44 and 45: 52 H. Receivable from related parti
Page 46 and 47: 13. SEGMENTAL FINANCIAL INFORMATION
Page 48 and 49: February 23, 2000 (00)R.D24P.4057 T
Page 50 and 51: DELTA ELECTRONICS, INC. STATEMENT O
Page 52 and 53: DELTA ELECTRONICS, INC. STATEMENT O

1999 Annual Report - Delta Electronics

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