Letter To Shareholders - Mitac

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which was higher than expected. Apart from the price reductions initiated by PC manufacturers, it is apparent that PCs had become one of our daily necessities. The worldwide PC market is expected to sustain an annual growth over 10% between 2010 and 2014. Shipment and Estimation of PC from vears of 2007-2012 Units: Million Source: DIGITIMES 2009/12 (NB including netbook) (2) IDC projected that PC sales may achieve growth of 12.6% worldwide in 2010, due to the rapidly growing demand from emerging markets. Sales in 2011 are likely to hit double-digit growth as well. NB will continue to be the main driving force behind personal and commercial PC sales. It is estimated that by year 2012, NBs will represent nearly 7% of total PC sales, while the desktop (DT) market declines except in Japan and other Asia Pacific regions. However, the profit margins of PC products had tightened further; despite the rapid growth in sales volume, the growth of PC sales revenues is relatively stagnant. The growth rate for PC sales revenues is estimated at 5% for 2010 and 7% for 2011. (3) In home product market, client system business has been repositioned, with their raw processing horsepower deemphasized and the focus shifted to their use in multimedia entertainment and digital home applications. As a result, personal computers are integrating functionality related to graphics, video, audio, and data, and all of above are to initiate a new phase of strong growth. (4) Under demands of building high security and a highly-efficient remote control, all business computers of MiTAC’s urgently need our vendors to integrate our brand with the system. Our goal is to precisely meet MiTAC’s powerful system’s integration capability, to work with world-known manufacturers, and then to achieve a steady growth in the future. (5) Due to the difficulty in increasing demands on client computers world-wide, MiTAC will systemically integrate all our superiority in order to supply customers the barebones systems, a full system and a total solution. 60
(6) Since many worldly famous companies have started a price war, it will be a great advantage for all Taiwanese companies to obtain orders from other vendors due to our low price. While worldwide famous companies continue to outsource, we believe that Taiwanese companies will benefit from this. (7) The application of Cloud Computing has made thin computers popular. From the development of remote control, to local server, and from tiny monitors to VOIP and video conference devices, the market is calling for the mainframe supported multiple high-definition monitors without fans. In terms of product structure, thin clients had evolved from the conventional micro form factors into all-in-one devices with integrated screen display, and into portable thin clients. Whereas operating platforms had also extended from the x86 structure into silicon on-chip (SOC). The company has ready access to comprehensive product lines to meet customers' every need. (8) All-in-one computers have been rapidly growing in popularity. In fact, there are many reasons to cause AIO DT to be popular again. Firstly, monitors are getting too big for computer desks. 22 to 24 inches monitors are already oversized; hence monitors have reached their limits. Secondly, the improvement of DT’s modules has made computer upgrades less necessary. Therefore, there will be less of a reason to separate monitors and DT, so all-in-one DT has been much more stylish and popular. In 2009, DT has been developed in two totally different directions: one is slim, small, lightweight, inexpensive, low power consumption and a friendly design and is for word processing and web browsing purposes. Nettop、AIO DT are type one. The other direction is high-end, high-efficiency, high-cost, energy intensive and with a metallic look. They are mainly used for video games and high-definition conference. “Enthusiastic PC system” is the type of this cutting edge model. MiTAC has been working on not only the completion of production lines on all-in-one products for their differentiation and design, but also R&D sub-generation products with major PC OEM vendors. We hope to increase sales of components and high- value-added products. (9) The point-of-sale systems (POS) are showing signs of recovery as European and US economies stabilized; food, beverages, and other service industries which the POS system is mainly targeted to are showing signs of revived business activities. In light of the potential of POS systems and the ability to integrate with more powerful systems, the company has also begun its preparation for the POS product line. (10) Creative and fashionable mobile Internet devices, and the wide ranges of services that they enable, are creating a market of their own with the arrival of iPAD. The usage of which is designed to liberate users from the complexity of personal computers. Mobile Internet devices are creating whole new commercial opportunities with a promising future. 2. Enterprise products Servers are used mainly for building corporate information systems, making them an essential infrastructure investment for businesses. Because information systems are a critical tool for any modern corporation seeking to sustain its operations, companies place great importance on <strong>To</strong>tal Cost of Ownership (TCO) when it comes to purchasing servers. TCO includes the business costs incurred when the system is not operational as well as regular maintenance costs. Therefore, they demand Reliability, Availability, Serviceability, Usability, and Manageability – characteristics that are collectively termed RASUM – from servers, which consequently require longer time for product development 61
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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
Page 13 and 14: Names Chairman Mathew Miau Director
Page 15 and 16: Titles Names Dates took position Sh
Page 17 and 18: Titles Vice president Vice presiden
Page 19 and 20: Below 2,000,000 Remuneration Rankin
Page 21 and 22: Titles Names MiTAC Salaries (A) In
Page 23 and 24: Managers Receiving Employee Bonuses
Page 25 and 26: 3.3.2 Supervisors’ participation
Page 27 and 28: Items Status Differentiation with o
Page 29 and 30: 3.3.4 Social contribution to enviro
Page 31 and 32: 3.3.6 Important resolutions reached
Page 33 and 34: 3.4. CPA’s dues Range of Audit Re
Page 35 and 36: 3.7 Relationships between the top t
Page 37 and 38: 3.8 Aggregate shareholding percenta
Page 39 and 40: 2. Preferred stock: None 4.1.4 Majo
Page 41 and 42: latest financial year after taking
Page 43 and 44: MiTAC International Corp. Regulatio
Page 45 and 46: converting price is to be adjusted
Page 47 and 48: total issuance value, the Company m
Page 49 and 50: 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: ‧Personal computers with wire or
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 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
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D. Lian Jie Investment Co., Ltd. ma
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than the sum of carrying value of i
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14) Long-term loans December 31, Ba
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17) Capital reserve The R.O.C. Secu
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19) Share-based payment ─ employe
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(b) As of December 31, 2009, the su
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G. (a) A summary of the movements u
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(c) The Company assumed the employe
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exceed the sum of retained earnings
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C. Components of deferred income ta
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21) Earnings per share Income befor
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treasury stock. 23) Personnel, depr
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E. Accounts payable As of December
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10. OTHER INFORMATION 1) The fair v
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(c) Short-term financial instrument
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11.SUPPLEMENTARY DISCLOSURES A. Inf
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Note 2: 47,500,000 shares were pled
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(8) Receivables from related partie
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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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