Tripod — Annual Report 2016

Dec 5, 2016

Presentation

December 2016

Worldwide PCB Production Region Value Share(%)

60.0%

50.0% 40.0% 30.0%

20.0% 10.0% 0.0%

==> picture [618 x 210] intentionally omitted <==

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016E

Americas

Europe

Japan

Asia(ex JP & CN) China (Area)

M USD	Americas	Europe	Japan	Asia (ex JP&CN)	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2006	5,054	3,612	10,511	14,229	11,737	22.9%	45,144	11.1%	26.0%
2007	4,577	3,598	10,716	15,231	13,563	15.6%	47,684	5.6%	28.4%
2008	4,484	3,208	10,095	15,518	15,037	10.9%	48,342	1.4%	31.1%
2009	3,446	2,035	8,304	13,189	14,252	-5.2%	41,226	-14.7%	34.6%
2010	3,923	2,464	10,165	15,746	20,170	41.5%	52,468	27.3%	38.4%
2011	3,825	2,550	9,638	17,367	22,029	9.2%	55,409	5.6%	39.8%
2012	3,284	2,338	9,074	18,037	22,936	4.1%	55,669	0.5%	41.2%
2013	3,044	2,190	6,995	19,363	24,560	7.1%	56,152	0.9%	43.7%
2014	2,977	2,220	6,530	19,507	26,203	6.7%	57,437	2.3%	45.6%
2015	2,776	1,933	5,655	18,233	26,729	2.0%	55,325	-3.7%	48.3%
2016E	2,790	1,897	5,066	17,198	26,041	-2.6%	52,992	-4.2%	49.1%

* Source : Prismark (Aug. 2016)

2015 Global Top 15 PCB Makers

Unit: Million USD

Rank	Makers	Nationality	2010	2011	2012	2013		2014	2015	Growth
1 Nippon Mektron 2 Zhen Ding (Foxconn PCB) 3 TTM (with Viasystems) 4 Unimicron (with PPT) 5* Sumitomo Electric		Japan 2115(3) 2240(3) 2632(1) 2556(1) Taiwan 1100(10) 1505(5) 1874(5) 2166(3) USA 2428(1) 2563(1) 2430(2) 2380(2) Taiwan 2185(2) 2370(2) 2377(3) 2133(5) Japan 660(20) 880(14) 1184(9) 1315(9)					2997(1) 3512(1) 2504(2) 2703(2) 2376(3) 2488(3) 2149(4) 2122(4) 1279(9) 1616(5)			17.2% 7.9% 4.7% -1.3% 26.3%
6 Compeq		Taiwan 695(19) 811(18) 905(14) 1041(12)					1116(11) 1395(6)			25.0%
7 Tripod		Taiwan 1370(5) 1395(7) 1325(8) 1372(8)					1400(8) 1368(7)			-2.3%
8 Samsung Electro-Mech 9 Ibiden 10 YoungPoong (with KCC,Interflex*)		S. Korea 1250(6) 1445(6) 1867(6) 1700(6) Japan 2075(4) 2126(4) 2094(4) 1567(7) S. Korea 980(11) 1255(10) 1555(7) 2065(4)					1551(6) 1344(8) 1455(7) 1297(9) 1675(5) 1295(10)			-13.3% -10.9% -22.7%
11 Nanya PCB 12 Daeduck Group 13 KB PCB Group (Elec&Eltek..) 14 AT&S 15 Hannstar Board(with GBM)		Taiwan 1140(8) 1290(9) 975(12) 1088(11) S. Korea 765(18) 970(12) 1080(11) 1190(10) HongKong 1115(9) 1040(11) 935(13) 922(14) Austria 625(21) 690(21) 698(20) 780(16) Taiwan 1150 (7) 1290(9) 1100(10) 972(13)					1154(10) 945(11) 1076(12) 930(12) 965(13) 930(13) 829(15) 844(14) 958(14) 825(15)			-18.1% -13.6% -3.6% 1.8% -13.9%
Top15 PCB Makers		19653 21870 23031 23247					23484 23614			0.1%

• FPC Makers Include FPCBA Value

Source : Prismark ( Feb. 2016 )

** On a Pro Forma Basis, TTM Acquired Viasystems in 2015

Consolidated Quarterly Income Statement

Net Income COGS Gross Profit Operating Exp. Operating Income Non-Op. Income the Parent Attributable to: Other Expense Basic EPS Income Tax Net Sales Pretax Income Dep.& Amort. Unit : Million NTD	AMT % 11,944 100.0% 9,920 83.1% 2,024 16.9% 1,023 8.6% 0 0.0% 1,001 8.4% 181 1.5% 1,182 9.9% 233 1.9% 949 7.9% 949 7.9% $1.81 791 6.6% 2015 Q3	AMT % 11,212 100.0% 9,362 83.5% 1,850 16.5% 961 8.6% 0 0.0% 890 7.9% 96 0.9% 986 8.8% 161 1.4% 824 7.4% 824 7.4% $1.57 773 6.9% 2015 Q4	AMT % 9,945 100.0% 8,438 84.8% 1,507 15.2% 888 8.9% 0 0.0% 619 6.2% 165 1.7% 784 7.9% 114 1.1% 670 6.7% 670 6.7% $1.28 757 7.6% 2016 Q1	AMT % 10,663 100.0% 8,954 84.0% 1,709 16.0% 901 8.4% 0 0.0% 808 7.6% 164 1.5% 972 9.1% 278 2.6% 694 6.5% 694 6.5% $1.32 727 6.8% 2016 Q2	2016 Q3	2016 Q3
	AMT 11,944 9,920 2,024 1,023 0 1,001 181 1,182 233 949	AMT 11,212 9,362 1,850 961 0 890 96 986 161 824	AMT 9,945 8,438 1,507 888 0 619 165 784 114 670	AMT 10,663 8,954 1,709 901 0 808 164 972 278 694	AMT 11,619 9,302 2,317 879 450 989 202 1,191 214 976	%
						100.0% 80.1%
						19.9% 7.6% 3.9%
						8.5% 1.7%
						10.2% 1.8%
						8.4%
	949 $1.81	824 $1.57	670 $1.28	694 $1.32	976 $1.86	8.4%
	791	773	757	727	675	5.8%

Consolidated Annual Income Statement

Unit : Million NTD Operating Exp. Net Sales the Parent Income Tax Dep.& Amort. Net Income Other Expense Operating Income Pretax Income Non-Op. Income Attributable to: Basic EPS Gross Profit COGS	AMT % 40,772 100.0% 34,869 85.5% 5,903 14.5% 3,025 7.4% 331 0.8% 2,546 6.2% 345 0.8% 2,892 7.1% 525 1.3% 2,367 5.8% 2,375 5.8% $4.52 3,638 8.9% 2013 (IFRS)	AMT % 42,433 100.0% 35,771 84.3% 6,662 15.7% 3,960 9.3% 129 0.3% 2,573 6.1% 667 1.6% 3,240 7.6% 584 1.4% 2,656 6.3% 2,637 6.2% $5.02 2,816 6.6% 2014 (IFRS)	AMT % 43,383 100.0% 36,589 84.3% 6,793 15.7% 3,933 9.1% 0 0.0% 2,860 6.6% 671 1.5% 3,531 8.1% 698 1.6% 2,833 6.5% 2,833 6.5% $5.39 3,080 7.1% 2015 (IFRS)	AMT % 32,170 100.0% 27,228 84.6% 4,943 15.4% 2,973 9.2% 0 0.0% 1,970 6.1% 575 1.8% 2,545 7.9% 537 1.7% 2,008 6.2% 2,008 6.2% $3.82 2,307 7.2% 2015 1-3Q (IFRS)	2016 1-3Q (IFRS)	2016 1-3Q (IFRS)
	AMT 40,772 34,869 5,903 3,025 331 2,546 345 2,892 525 2,367	AMT 42,433 35,771 6,662 3,960 129 2,573 667 3,240 584 2,656	AMT 43,383 36,589 6,793 3,933 0 2,860 671 3,531 698 2,833	AMT 32,170 27,228 4,943 2,973 0 1,970 575 2,545 537 2,008	AMT 32,227 26,694 5,533 2,668 450 2,416 531 2,947 606 2,341	%
						100.0% 82.8%
						17.2% 8.3% 1.4%
						7.5% 1.6%
						9.1% 1.9%
						7.3%
	2,375 $4.52	2,637 $5.02	2,833 $5.39	2,008 $3.82	2,341 $4.45	7.3%
	3,638	2,816	3,080	2,307	2,159	6.7%

	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 13,353 27.2% 21,501 36.4% 23,795 38.8% 27,258 43.6% Other Current Assets 17,765 36.1% 19,047 32.2% 19,716 32.1% 18,312 29.3% Fixed Assets 15,898 32.3% 15,992 27.1% 15,251 24.9% 14,418 23.1% Intangible and Other Assets 2,140 4.4% 2,529 4.3% 2,563 4.2% 2,537 4.1% Total Assets 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% Short-Term Loans 9,980 20.3% 15,236 25.8% 16,389 26.7% 17,740 28.4% Other Current Liabilities 12,107 24.6% 14,154 24.0% 13,834 22.6% 13,347 21.3% Other Liabilities 891 1.8% 1,285 2.2% 1,620 2.6% 1,670 2.7% Shareholder's Equities 26,177 53.3% 28,393 48.1% 29,482 48.1% 29,768 47.6% Total Liabilities and Equities 49,155 100.0% 59,068 100.0% 61,325 100.0% 62,525 100.0% 2015 1-3Q(IFRS) 2013(IFRS) 2015(IFRS) 2014(IFRS) Unit: Million NTD
		AMT 13,353 17,765 15,898 2,140 49,155 9,980 12,107 891 26,177 49,155		AMT 21,501 19,047 15,992 2,529 59,068 15,236 14,154 1,285 28,393 59,068		AMT 23,795 19,716 15,251 2,563 61,325 16,389 13,834 1,620 29,482 61,325			AMT 27,258 18,312 14,418 2,537 62,525 17,740 13,347 1,670 29,768 62,525		AMT 29,063 17,647 11,693 2,704 61,106 17,665 13,407 1,636 28,398 61,106
	Asset Turnover (x) Fixed Asset Turnover (x) ROA (%) ROE (%) Current Ratio (%) Debt / Asset Ratio (%) Net Debt / Equity Ratio (%) Book Value Per Share(NT$)	0.86 2.47 5.0% 9.4% 141% 47% -13% 49.8		0.78 2.66 4.9% 9.7% 138% 52% -22% 54.0		0.71 2.75 4.4% 9.3% 144% 52% -25% 56.1			0.71 2.85 4.7% 9.7% 147% 52% -32% 56.6		0.70 3.29 5.0% 10.7% 150% 54% -40% 54.0

Unit: Million NTD Net Income Depreciation & Amortization Others Cash Flow from Operations Acquisition of Fixed Assets Decrease (Increase) in Investments Others Cash Flow from Investments Increase (Decrease) in Loans Cash Dividends Paid Others Cash Flow from Financing Foreign Exchange Translation Increase (Decrease) in Cash Cash at the End of the Year*	2012 (IFRS*) 3,717 3,728 -3,157 4,288 -5,755 -28 -75 -5,858 2,662 -1,892 -15 754 -258 -1,074 10,114	2013 (IFRS*) 2,892 3,638 -2,321 4,208 -2,169 0 -47 -2,217 2,213 -1,314 36 935 313 3,239 13,353	2014 (IFRS*) 3,240 2,816 106 6,162 -2,500 255 -107 -2,353 4,624 -1,183 -9 3,432 907 8,148 21,501	2015 (IFRS*) 3,531 3,080 496 7,106 -2,299 0 71 -2,228 2,048 -1,445 -21 582 298 5,757 27,258	2015 1-3Q (IFRS*) 2,545 2,307 -509 4,342 -1,839 0 -42 -1,881 736 -1,445 -16 -725 558 2,294 23,795	2016 1-3Q (IFRS*)
						2,947 2,159 503
						5,609
						-744 -136 220
						-660
						442 -1,708 16
						-1,250
						-1,895 1,805
						29,063

• Started to Adopt IFRS Since 2013 and Net Income Changed to Before Income Tax Basis