Letter To Shareholders - Mitac

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1. Analysis of changes in percentage increases/decreases (changes less than 20% are exempted): (1) Sales return and allowance: Primarily due to the recession and the clearance sale because of the stock clearance, the amount of the sales returns and allowances increased in 2008. But it gets stable in 2009. (2) Operating expenses: Mainly because the decline of the operating revenue, the expenses declined as well. (3)Operating income: Affected by the factors above. (4)Non-operating income and gains: Mainly because the investment incomes decrease from the equity assessment caused the decrease of non-operating income and gains. (5) Non-operating expenses and losses: Mainly because the interest decreases, non-operating expenses and losses decrease as well. (6) Income before income tax and income tax expense: Affected by the factors above, income before incomes tax decrease, income tax expenses decline as well. (7) Net income from continuing operations: Also affected by the factors above. 2. Reasons for changing the company’s major businesses: The company did not change its major businesses. 3. The forecasts for sales volumes and their evidence and the possible impacts and their countermeasures: Based on the strategic plans and assessments of the future environment made by the company's management this year (2009), MiTAC shall focus on the growth of its three main businesses: developing high value-adding navigation software and outdoor GPS devices to achieve 2010 sales that surpass the previous year’s level. Target corporate servers and storage devices to provide cloud computing solutions; introduce innovative energy-saving servers, high-performance servers, and high performance computing solutions; increase the market share and distribution network coverage of our TYAN brand. As for client products, our efforts shall be focused on the development of Internet-enabled GPS devices and thin clients’ computers, thereby enabling closer technological association between cloud computing and MiTAC’s client products, as well as market growth. ~162~
7.3 Cash flow analysis Unit: NT$ Thousand Measures for rectifying Cash outflows Initial cash Net cash flow from Cash surplus cash shortfall for the full balance operating activities (shortfall) year Investment Financing plans plans 3,727,780 1,081,726 (4,823,842) (14,336) 220,593 2,998,522 7.3.1. Analysis of cash flow for the current year 1. Operating activities: Due to the proper capital management, operations in 2008 resulted in a net cash inflow. 2. Cash outflow for the full year: Primarily caused by the partial repayments of bank borrowings, corporate bond redemptions, cash dividends, increases of intangible assets and deferred expenses. 7.3.2 Remedy for cash shortfalls: funded with additional long-term borrowings and sale of fixed assets. 7.3.3 Cash flow analysis for the next year Initial cash balance Net cash flow from operations Cash outflows for the full year Cash surplus (shortfall) Unit: NT$ Thousand Measures for rectifying cash shortfall Investment Financing plans plans 3,204,779 1,442,311 (1,726,862) 2,920,228 - - 1. Analysis of cash flow changes for the next year: (1)Operating activities: We forecasted that operating activities for 2010 will have a net cash inflow. (2)Cash outflow for the full year: We plan to increase long-term investments, purchase patent rights and techniques, buy fixed assets, redeem corporate bonds, and distribute cash dividends and employees’ bonuses. 2. Remedies for cash shortfalls: N/A ~163~
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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
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Volume/value Year 2008 2009 Major p
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5.4.2 MiTAC’s environmental healt
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consumption. To comply with the REA
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and the integration of all our comp
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6. Financial Statement 6.1. Most re
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6.2. Financial analysis in most rec
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6.3. Supervisors’ Report of the m
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MITAC INTERNATIONAL CORP. AND SUBSI
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2.Research, development, manufactur
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4) Classification of current and no
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11) Allowance for doubtful accounts
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18) Convertible bonds For convertib
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C. When a company’s treasury stoc
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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
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: 7 Assessment of financial condition
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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Letter To Shareholders - Mitac

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