Letter To Shareholders - Mitac

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C. When a derivative is an ineffective hedging instrument, it is initially recognized at fair value on the date a derivative contract is entered into and is subsequently remeasured at its fair value. If a derivative is a non-option derivative, the fair value initially recognized is zero. 7) Available-for-sale financial assets A. Available-for-sale financial assets are recognized and derecognized using trade date accounting and are initially stated at fair value plus transaction costs that are directly attributable to the acquisition of the financial asset. B. The financial assets are remeasured and stated at fair value, and the gain or loss is recognized in equity, until the financial asset is derecognized, at which time the cumulative gain or loss previously recognized in equity shall be recognized in profit or loss. The fair values of listed stocks, OTC stocks and closed-end mutual funds are based on latest quoted fair prices of the accounting period. The fair values of open-end and balanced mutual funds are based on the net asset value at the balance sheet date. C. If there is any objective evidence that the financial asset is impaired, the cumulative loss that had been recognized directly in equity shall be transferred from equity to profit or loss. When the fair value of an equity instrument subsequently increases, impairment losses recognized previously in profit or loss shall not be reversed. When the fair value of a debt instrument subsequently increases and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss shall be reversed to the extent of the loss recognized in profit or loss. 8) Financial assets carried at cost A. Investment in unquoted equity instruments is recognized or derecognized using trade date accounting and is stated initially at its fair value plus transaction costs that are directly attributable to the acquisition of the financial asset. B. If there is any objective evidence that the financial asset is impaired, the impairment loss is recognized in profit or loss. Such impairment loss shall not be reversed when the fair value of the asset subsequently increases. 9) Derivative financial instruments for hedging When the transactions qualify for all the conditions of applying hedge accounting, the resulting profit or loss is recognized by offsetting the changes in the fair values of hedging instrument and hedged items. When the transactions qualify as cash flow hedges, the effective portion of any gain or loss on remeasurement of the derivative financial instrument to fair value is recognized directly in equity. 10) Accounts receivable Accounts receivable are claims resulting from sale of goods or services. The fair value of accounts receivable is calculated based on the imputed interest rate. Accounts receivable which is collectible within one year, and where the difference between the fair value and the value at maturity is insignificant is measured at carrying value. ~102~
11) Allowance for doubtful accounts Allowance for doubtful accounts is provided based on the collectibility of notes, accounts and other receivables, taking into account the bad debts incurred in prior years and the aging analysis of the receivables. 12) Inventories A. The perpetual inventory system is adopted for inventory recognition. Inventories are stated at standard cost, which is adjusted to actual cost at year-end. B. At the end of period, inventories are evaluated at the lower of cost or net realizable value, and the individual item approach is used in the comparison of cost and net realizable value. The calculation of net realizable value should be based on the estimated selling price in the normal course of business, net of estimated costs of completion and estimated selling expenses. 13) Long-term equity investments accounted for under equity method A. Long-term equity investments in which the Group holds more than 20% of the investee company’s voting shares or has the ability to exercise significant influence on the investee’s operational decisions are accounted for under the equity method. The excess of the initial investment cost over the acquired net asset value of the investee attributable to goodwill is no longer amortized, effective January 1, 2006. Retrospective adjustment of the amount of goodwill amortized in previous year(s) is not required. The excess of acquired net asset value of investee over the initial investment cost is allocated proportionately and applied as a reduction to the book values of identifiable non-current assets, and any remaining amount of such excess after this allocation is credited to extraordinary gains. However, negative goodwill occurred prior to December 31, 2005 is continuously amortized. All majority-owned subsidiaries and controlled entities are accounted for under the equity method and are included in the consolidated financial statements on a quarterly basis. B. For investments accounted for under the equity method, the Company recognizes investment gains or losses by quarter. The unrealized profits and losses from intercompany transactions between the Company and investee companies during the current year shall be eliminated. C. Exchange differences arising from translation of the financial statements of overseas investee companies accounted for under the equity method are recorded as “cumulative translation adjustments” under stockholder’s equity. 14) Property, plant and equipment A. Property, plant and equipment are stated at cost. Interest incurred on loans used to finance the construction of property and plant is capitalized and depreciated accordingly. B. Depreciation is calculated on a straight-line basis over the assets’ estimated useful lives. Residual values of fixed assets still in use at the end of the original service lives are depreciated based on the newly estimated remaining service lives of the assets. The useful lives of the fixed assets are 3 – 10 years, except for buildings, which are 3 - 55 years. C. Maintenance and repairs are expensed as incurred. Significant renewals and improvements are capitalized and depreciated accordingly. ~103~
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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.
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April 30, 2010 Type of employees’
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April 30, 2010 Units:NT$ Thousand/
Page 55 and 56: April 30, 2010 Units:NT$ Thousand/S
Page 57 and 58: April 30, 2010 Units:NT$ Thousand/
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 103 and 104: 2.Research, development, manufactur
Page 105: 4) Classification of current and no
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)
Page 153 and 154: Note 3: Equal to 50% of the net wor
Page 155 and 156: (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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