Letter To Shareholders - Mitac

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and development and parts of employees’ training for tax credits were assessed as not qualified for tax credits and other incomes were added, which resulted in additional tax payable for years 2005, 2006 and 2007. Since there were unused tax credits before 2004, the Company was not assessed an additional tax payable for year 2004. The tax re-examination for the 2004 income tax return had been dismissed by the Tax Authority, so the Company filed a tax appeal for that year. The Company has assessed the income tax effects for all the above cases and accrued relevant tax liabilities in the financial statements. F. Under the PRC tax regulations, the corporate income tax for the Mainland China subsidiary shall be levied at the rate of 25 %. However, as MiTAC Computer (Kunshan) Co. Ltd. is a foreign-invested manufacturing enterprise established in the PRC, according to the Corporate Income Tax Law of the PRC, it is exempt from corporate income tax for the first and second profit-making years and is subject to a 50% reduction of corporate income tax from the third through fifth profit-making years. Pursuant to Article 57 of the Corporate Income Tax Law of the PRC (“new tax law”) passed at the National People’s Congress held on March 16, 2008, those enterprises which were established before the effective date of new tax law and have enjoyed tax relief shall be assessed at the tax rate regulated by new tax law after five-year enforcement of the law, and those enterprises which enjoy tax relief for a specific period can continue enjoying tax relief until due date, while for those enterprises which have not reported any profit and not enjoyed tax relief, the tax grace period starts from January 1, 2008. Accordingly, the regulatory corporate income tax rate was 20% for 2009. However, MiTAC Computer (Kunshan) Co. Ltd. was assessed at the tax rate of 10% for that year because of the 50% tax reduction; MiTAC Research (ShangHai) Ltd. was assessed at the tax rate of 15% for meeting the qualification for national supportive high-tech enterprise on November 25, 2008. G. Unappropriated earnings December 31, 2009 2008 Earnings earned before 1998 $ 305,502 $ 305,502 Earnings earned in and after 1998 7,874,938 7,936,909 $ 8,180,440 $ 8,242,411 H. December 31, 2009 December 31, 2008 Balance of stockholders’ tax credit account $ 1,425,742 $ 1,439,758 2009 (estimated) 2008 Ratio of deductible tax credit $ 18.10% $ 17.62% ~130~
21) Earnings per share Income before income tax Amount For the year ended December 31, 2009 Earnings per share (in dollars) Weighted Average Outstanding Common Shares (in thousands Income before Net income of shares) income tax Net income Basic earnings per share: Consolidated net $ 600,040 $ 289,162 income Net income attributable to Majority stockholders $ 376,110 $ 289,162 1,502,780 $ 0.25 $ 0.19 Less: effect of dilutive potential common stocks issued by investee companies ( 76,973 ) ( 76,973 ) Effect of dilutive potential common stocks: Convertible bonds - - 8,044 Employee stock options - - 13,898 Employees’ bonus - - 786 Diluted earnings per share Net income attributable to common stockholders plus dilutive effect of common stock equivalents $ 299,137 $ 212,189 1,525,508 $ 0.20 $ 0.14 ~131~
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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/
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April 30, 2010 Units:NT$ Thousand/S
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‧Personal computers with wire or
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(6) Since many worldly famous compa
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communication technologies mature i
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manufactured for the mainstream mar
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state-of-the-art hardware with navi
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devices, establishes connection wit
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downstream technologies to develop
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2009, and 1.3 million units sold in
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customer satisfaction for a greater
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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 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: C. Components of deferred income ta
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
Page 157 and 158: (10) Information on derivative tran
Page 159 and 160: ) Major transactions with the subsi
Page 161 and 162: D) The relation of business and imp
Page 163 and 164: 12. SEGMENT INFORMATION 1) Operatio
Page 165 and 166: 7 Assessment of financial condition
Page 167 and 168: 7.3 Cash flow analysis Unit: NT$ Th
Page 169 and 170: 7.5.2 Influences of the interest ra
Page 171 and 172: (4) Enterprise and channel servers/
Page 173 and 174: 8.1. Information of affiliates 8.1.
Page 175 and 176: 2. Affiliated companies - basic dat
Page 177 and 178: Company Name Date established Addre
Page 179 and 180: MiTAC (U.K.) Ltd. Sales of MiTAC’
Page 181 and 182: Company name Title Name or Rep. Sha
Page 183: 8.2. MiTAC’s stocks held or dispo
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