Letter To Shareholders - Mitac

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MITAC INTERNATIONAL CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2009 AND 2008 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT AS OTHERWISE INDICATED) 1. HISTORY AND ORGANIZATION 1) The Company MiTAC International Corp. (“the Company”) was incorporated as a company limited by shares under the provisions of the Company Law of the Republic of China (R.O.C) on December 8, 1982 and started its operations on December 15, 1982. The main activities of the Company include the design, manufacture, sales and services of micro-computers, mobile communications and related products as well as other related investments. As of December 31, 2009, the Company and its subsidiaries had 9,622 employees. 2) Subsidiaries included in the consolidated financial statements and their changes The business activities of the Company and its controlled subsidiaries (collectively referred herein as the Group) and the Company’s ownership percentages of its controlled subsidiaries are shown below: 1. General investments holding: Subsidiary Tsu Fung Investment Corp. (TFC) and its subsidiaries Ownership (%) Investor December 31, 2009 2008 MiTAC International Corp. 100% 100% Description Silver Star Developments Ltd. MiTAC International Corp. 100% 100% Foreground Technology Ltd. MiTAC International Corp. 100% 100% Mio Limited Silver Star Developments Ltd. - 100% Note 2 System Glory International Ltd. Silver Star Developments Ltd. 100% 100% Pacific China Corp. Silver Star Developments Ltd. 100% 100% Magicmate Group Ltd. Silver Star Developments Ltd. 100% 100% Best Profit Ltd. Silver Star Developments Ltd. 100% 100% Sky Universe Enterprise Ltd. Silver Star Developments Ltd. 100% 100% Mass Bridge Ltd. Silver Star Developments Ltd. 100% 100% Great Rich Ltd. Silver Star Developments Ltd. 100% 100% MiTAC Star Service Ltd. Pacific China Corp. 100% 100% Software Insights Ltd. Pacific China Corp. 100% 100% Start Well Tecnology Ltd. Pacific China Corp. 100% 100% Dynamic Star Investments Ltd. Pacific China Corp. 100% 100% Huge Extend Ltd. Pacific China Corp. 100% 100% Bright Crown Management Ltd. Pacific China Corp. 100% 100% MiTAC Cooperatie U.A. Great Rich Ltd. 100% 100% Booming Enterprises Inc. Best Profit Ltd. 100% 100% <strong>To</strong>p Sheen Enterprises Ltd. Best Profit Ltd. 100% 100% MiTAC Netherlands B.V. MiTAC Cooperatie U.A. 100% 100% ~98~
2.Research, development, manufacturing and marketing of mobile communications, computer peripheral, hardware, software and related products: Subsidiary Investor Ownership (%) December 31, Description 2009 2008 DLC Technology Corporation MiTAC International Corp. 100% 100% Note 1 Mio Technology Corp. Tsu Fung Investment Corp. 100% 100% Tyan Computer Corporation - USA Foreground Technology Ltd. 100% 100% Tyan Computer Corporation - Foreground Technology Ltd. 100% 100% GMBH MiTAC U.S.A. Inc. Silver Star Developments Ltd. 100% 100% MiTAC Japan Corp. Silver Star Developments Ltd. 100% 100% Mio Technology Benelux B.V. Silver Star Developments Ltd. 100% 100% MiTAC (U.K.) Ltd. Silver Star Developments Ltd. 100% 100% MiTAC Pacific (H.K.) Ltd. Silver Star Developments Ltd. 100% 100% Mio International Ltd. Silver Star Developments Ltd. 100% 100% MiTAC Australia Pty Ltd. Silver Star Developments Ltd. 100% 100% Navman Technology NZ Ltd. Silver Star Developments Ltd. 100% 100% Naviart Ltd. Silver Star Developments Ltd. - 100% Liquidated in 2009 MiTAC Computer (Kunshan) Ltd. Start Well Tecnology Ltd. 100% 100% MiTAC Service (ShangHai) Pacific China Corp. 100% 100% Co.,Ltd. MiTAC Computers (Shunde) Ltd. MiTAC Star Service Ltd. 100% 100% MiTAC Research (Shanghai) Ltd. Software Insights Ltd. 100% 100% MiTAC Technology (Kunshan) Co., Dynamic Star Investments Ltd. 100% 100% Ltd. Mio Technology Korea Magicmate Group Ltd. 100% 100% Mio Technology (Chengdu) Ltd. Mio International Ltd. 100% 100% Mio Technology Ltd. Mio International Ltd. 100% 100% Mio Technology USA Ltd. Booming Enterprises Inc. 100% 100% Naviart Information Technolgoy (Shanghai) Co., Ltd. Naviart Ltd. - 100% Liquidated in 2009 Mio Technology UK Ltd. Best Profit Ltd. 100% 100% MiTAC Logistics Corp. Sky Universe Enterprise Ltd. 100% 100% MiTAC Computer (Vietnam) Co., Mass Bridge Ltd. 100% 100% Ltd. MITAC LOGISTIC SERVICE Bright Crown Management Ltd. 100% 100% (KUNSHAN) LTD. MiTAC Digital Corp. <strong>To</strong>p Sheen Enterprises Ltd. 100% - New established MiTAC Information Technology Ltd. Bright Crown Management Ltd. 100% - New established Note 1:As of December 31, 2008, the Company and its subsidiary, Tsu Fung Investment Corp., held 100% consolidated ownership of DLC Technology Corporation. Note 2:In 2009, the Company sold its 100% ownership of Mio Limited to the subsidiaries of Getac Technology Corp. (GTC). 3) Majority-owned subsidiaries excluded in the consolidation: None. 4) Adjustment for subsidiaries with different balance sheet dates Some of SSDL’s subsidiaries adopted accounting periods that are different from the Company’s accounting period. However, as the difference is not over 3 months, the financial reports of these subsidiaries are consolidated without any adjustment. 5) Special operating risks in foreign subsidiaries: None. ~99~
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009 ANNUAL REPORT StockNo:2315 2009
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Contents 1. 7. Assessment Letter To
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competitiveness Letter in the marke
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2007 2009 2008 2005 2006 2007 Compa
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2007 2009 2008 2005 2006 2007 Compa
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3.1.2 Responsibilities of major dep
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Names Chairman Mathew Miau Director
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Titles Names Dates took position Sh
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Titles Vice president Vice presiden
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Below 2,000,000 Remuneration Rankin
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Titles Names MiTAC Salaries (A) In
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Managers Receiving Employee Bonuses
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3.3.2 Supervisors’ participation
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Items Status Differentiation with o
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3.3.4 Social contribution to enviro
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3.3.6 Important resolutions reached
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3.4. CPA’s dues Range of Audit Re
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3.7 Relationships between the top t
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3.8 Aggregate shareholding percenta
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2. Preferred stock: None 4.1.4 Majo
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latest financial year after taking
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MiTAC International Corp. Regulatio
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converting price is to be adjusted
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total issuance value, the Company m
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4.3 Employees’ stock options 4.3.
Page 51 and 52: April 30, 2010 Type of employees’
Page 53 and 54: April 30, 2010 Units:NT$ Thousand/
Page 55 and 56: April 30, 2010 Units:NT$ Thousand/S
Page 63 and 64: ‧Personal computers with wire or
Page 65 and 66: (6) Since many worldly famous compa
Page 67 and 68: communication technologies mature i
Page 69 and 70: manufactured for the mainstream mar
Page 71 and 72: state-of-the-art hardware with navi
Page 73 and 74: devices, establishes connection wit
Page 75 and 76: downstream technologies to develop
Page 77 and 78: 2009, and 1.3 million units sold in
Page 79 and 80: customer satisfaction for a greater
Page 81 and 82: 5.2.2 Important applications and pr
Page 83 and 84: Volume/value Year 2008 2009 Major p
Page 85 and 86: 5.4.2 MiTAC’s environmental healt
Page 87 and 88: consumption. To comply with the REA
Page 89 and 90: and the integration of all our comp
Page 91 and 92: 6. Financial Statement 6.1. Most re
Page 93 and 94: 6.2. Financial analysis in most rec
Page 95 and 96: 6.3. Supervisors’ Report of the m
Page 97 and 98: MITAC INTERNATIONAL CORP. AND SUBSI
Page 99 and 100: MITAC INTERNATIONAL CORP. AND SUBSI
Page 101: MITAC INTERNATIONAL CORP. AND SUBSI
Page 105 and 106: 4) Classification of current and no
Page 107 and 108: 11) Allowance for doubtful accounts
Page 109 and 110: 18) Convertible bonds For convertib
Page 111 and 112: C. When a company’s treasury stoc
Page 113 and 114: B. The Company's investee, G. Marso
Page 115 and 116: D. Lian Jie Investment Co., Ltd. ma
Page 117 and 118: than the sum of carrying value of i
Page 119 and 120: 14) Long-term loans December 31, Ba
Page 121 and 122: 17) Capital reserve The R.O.C. Secu
Page 123 and 124: 19) Share-based payment ─ employe
Page 125 and 126: (b) As of December 31, 2009, the su
Page 127 and 128: G. (a) A summary of the movements u
Page 129 and 130: (c) The Company assumed the employe
Page 131 and 132: exceed the sum of retained earnings
Page 133 and 134: C. Components of deferred income ta
Page 135 and 136: 21) Earnings per share Income befor
Page 137 and 138: treasury stock. 23) Personnel, depr
Page 139 and 140: E. Accounts payable As of December
Page 141 and 142: 10. OTHER INFORMATION 1) The fair v
Page 143 and 144: (c) Short-term financial instrument
Page 145 and 146: 11.SUPPLEMENTARY DISCLOSURES A. Inf
Page 147 and 148: Note 2: 47,500,000 shares were pled
Page 149 and 150: (8) Receivables from related partie
Page 151 and 152: B. Information of Subsidiaries: (1)
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Note 3: Equal to 50% of the net wor
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(5) Marketable securities for which
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(10) Information on derivative tran
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) Major transactions with the subsi
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D) The relation of business and imp
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12. SEGMENT INFORMATION 1) Operatio
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7 Assessment of financial condition
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7.3 Cash flow analysis Unit: NT$ Th
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7.5.2 Influences of the interest ra
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(4) Enterprise and channel servers/
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8.1. Information of affiliates 8.1.
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2. Affiliated companies - basic dat
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Company Name Date established Addre
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MiTAC (U.K.) Ltd. Sales of MiTAC’
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Company name Title Name or Rep. Sha
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8.2. MiTAC’s stocks held or dispo
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Letter To Shareholders - Mitac

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