Tripod — Annual Report 2018

Mar 19, 2019

Presentation

March 2019

Worldwide PCB Production Region Value

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M USD	America+ Europe	Japan	Korea	Taiwan	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2009	5,481	8,304	5,011	5,407	14,252	49.2%	41,226	1.4%	34.6%
2010	6,387	10,165	5,888	6,640	20,170	41.5%	52,468	27.3%	38.4%
2011	6,375	9,638	6,487	7,372	22,029	9.2%	55,409	5.6%	39.8%
2012	5,622	9,074	7,473	6,856	22,936	4.1%	55,669	0.5%	41.2%
2013	5,234	6,995	8,123	7,107	24,560	7.1%	56,152	0.9%	43.7%
2014	5,197	6,530	7,645	7,586	26,203	6.7%	57,437	2.3%	45.6%
2015	4,709	5,655	6,652	7,204	26,729	2.0%	55,325	-3.7%	48.3%
2016	4,662	5,253	6,232	6,922	27,123	1.5%	54,207	-2.0%	50.0%
2017	4,705	5,256	6,860	7,536	29,732	9.6%	58,843	8.6%	50.5%
2018E	4,863	5,388	6,474	8,050	33,434	12.5%	63,548	8.0%	52.6%

Source : Prismark (Dec. 2018)

2017 Global Top 15 PCB Makers

Unit: Million USD

Rank		Makers	Nationality		2011	2012	2013	2014	2015		2016	2017		17/16
1 2 3 4 5	Zhen Ding (Foxconn PCB) Nippon Mektron TTM (with Viasystems)** Unimicron (with PPT) Compeq		Taiwan Japan USA Taiwan Taiwan	1505(5) 1874(5) 2166(3) 2504(2) 2703(2) 2240(3) 2632(1) 2556(1) 3154(1) 3591(1) 2563(1) 2430(2) 2380(2) 2376(3) 2525(3) 2370(2) 2377(3) 2133(5) 2144(4) 2113(4) 811(18) 905(14) 1041(12) 1116(12) 1395(6)						2557(2) 3588(1) 3212(1) 3323(2) 2533(3) 2658(3) 2036(4) 2240(4) 1415(5) 1778(5)			40.3% 3.5% 5.0% 10.0% 25.6%
6	Tripod		Taiwan	1395(7) 1325(8) 1372(8) 1400(8) 1368(7)						1351(6) 1510(6)			11.8%
7 8 9 10	Samsung Electro-Mech Sumitomo Electric Fujikura AT&S		Korea Japan Japan Austria	1445(6) 1867(6) 1700(6) 1551(6) 1344(8) 880(14) 1184(9) 1315(9) 1279(9) 1616(5) 738(22) 217(NA) 380(NA) 563(NA) 819(16) 690(21) 698(20) 780(16) 829(15) 844(14)						1140(8) 1284(7) 1099(9) 1134(8) 824(17) 1099(9) 876(13) 1093(10)			12.7% 3.2% 33.4% 24.7%
11 12 13 14 15	Ibiden M-Flex*** Meiko Hannstar Board (with GBM) Daeduck Group		Japan China Japan Taiwan Korea	2126(4) 2094(4) 1567(7) 1455(7) 1297(9) 830(18) 870(15) 710(20) 632(28) 637(25) 740(21) 695(23) 690(23) 828(17) 788(17) 1290(9) 1100(10) 972(13) 958(14) 825(15) 970(12) 1080(11) 1190(10) 1215(10) 923(13)						951(11) 973(11) 495(NA) 967(12) 869(14) 947(13) 828(15) 939(14) 828(16) 883(15)			2.3% 95.3% 9.0% 13.4% 6.6%
	Top15 PCB Makers			20593 21348 20952 22004 22778						21014 24416			16.2%

• FPC Makers Include FPCB Assembly Value

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

Source : Prismark

*** Dongshan Precision Acquired M-Flex in 2016

Consolidated Quarterly Income Statement

Unit : Million NTD the Parent Attributable to: Other Expense Pretax Income Net Sales Dep.& Amort. Basic EPS Income Tax Net Income COGS Gross Profit Operating Exp. Operating Income Non-Op. Income	AMT % 12,596 100.0% 10,212 81.1% 2,384 18.9% 965 7.7% 0 0.0% 1,420 11.3% 34 0.3% 1,453 11.5% 337 2.7% 1,116 8.9% 1,116 8.9% $2.12 615 4.9% 2017 Q4	AMT % 11,528 100.0% 9,635 83.6% 1,893 16.4% 1,047 9.1% 0 0.0% 846 7.3% 222 1.9% 1,068 9.3% 243 2.1% 825 7.2% 825 7.2% $1.57 693 6.0% 2018 Q1	AMT % 12,742 100.0% 10,577 83.0% 2,165 17.0% 1,003 7.9% 0 0.0% 1,162 9.1% 275 2.2% 1,437 11.3% 436 3.4% 1,001 7.9% 1,001 7.9% $1.90 722 5.7% 2018 Q2	AMT % 14,723 100.0% 11,698 79.5% 3,025 20.5% 1,213 8.2% 0 0.0% 1,812 12.3% 314 2.1% 2,126 14.4% 480 3.3% 1,646 11.2% 1,646 11.2% $3.13 749 5.1% 2018 Q3	2018 Q4	2018 Q4
	AMT 12,596 10,212 2,384 965 0 1,420 34 1,453 337 1,116	AMT 11,528 9,635 1,893 1,047 0 846 222 1,068 243 825	AMT 12,742 10,577 2,165 1,003 0 1,162 275 1,437 436 1,001	AMT 14,723 11,698 3,025 1,213 0 1,812 314 2,126 480 1,646	AMT 13,112 10,431 2,681 1,079 0 1,602 292 1,894 428 1,466	%
						100.0% 79.6%
						20.4% 8.2% 0.0%
						12.2% 2.2%
						14.4% 3.3%
						11.2%
	1,116 $2.12	825 $1.57	1,001 $1.90	1,646 $3.13	1,466 $2.79	11.2%
	615	693	722	749	805	6.1%

Consolidated Annual Income Statement

Gross Profit COGS Dep.& Amort. Net Income Other Expense Operating Income Pretax Income Non-Op. Income Attributable to: Basic EPS the Parent Income Tax Operating Exp. Net Sales Unit : Million NTD	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	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	AMT % 43,513 100.0% 35,695 82.0% 7,818 18.0% 3,679 8.5% 450 1.0% 3,689 8.5% 788 1.8% 4,477 10.3% 904 2.1% 3,573 8.2% 3,573 8.2% $6.80 2,749 6.3% 2016	AMT % 45,819 100.0% 37,464 81.8% 8,355 18.2% 3,624 7.9% -67 -0.1% 4,798 10.5% 745 1.6% 5,543 12.1% 1,177 2.6% 4,366 9.5% 4,366 9.5% $8.31 2,121 4.6% 2017	2018	2018
	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 43,513 35,695 7,818 3,679 450 3,689 788 4,477 904 3,573	AMT 45,819 37,464 8,355 3,624 -67 4,798 745 5,543 1,177 4,366	AMT 52,106 42,341 9,764 4,343 0 5,422 1,103 6,525 1,587 4,939	%
						100.0% 81.3%
						18.7% 8.3% 0.0%
						10.4% 2.1%
						12.5% 3.0%
						9.5%
	2,637 $5.02	2,833 $5.39	3,573 $6.80	4,366 $8.31	4,938 $9.40	9.5%
	2,816	3,080	2,749	2,121	2,969	5.7%

	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD	Consolidated Balanced Sheet AMT % AMT % AMT % AMT % Cash and Cash Equivalents 21,501 36.4% 27,258 43.6% 30,247 47.8% 29,753 42.4% Other Current Assets 19,047 32.2% 18,312 29.3% 18,950 29.9% 22,427 31.9% Funds and Investments 0 0.0% 0 0.0% 0 0.0% 0 0.0% Fixed Assets 15,992 27.1% 14,418 23.1% 11,321 17.9% 15,670 22.3% Intangible and Other Assets 2,529 4.3% 2,537 4.1% 2,782 4.4% 2,344 3.3% Total Assets 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% Short-Term Loans 15,236 25.8% 17,740 28.4% 16,913 26.7% 18,749 26.7% Other Current Liabilities 14,154 24.0% 13,347 21.3% 14,871 23.5% 18,689 26.6% Long-Term Borrowings 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Liabilities 1,285 2.2% 1,670 2.7% 1,951 3.1% 2,051 2.9% Shareholder's Equities 28,393 48.1% 29,768 47.6% 29,566 46.7% 30,705 43.7% Total Liabilities and Equities 59,068 100.0% 62,525 100.0% 63,301 100.0% 70,194 100.0% 2015 2014 2017 2016 Unit: Million NTD
		AMT 21,501 19,047 0 15,992 2,529 59,068 15,236 14,154 0 1,285 28,393 59,068		AMT 27,258 18,312 0 14,418 2,537 62,525 17,740 13,347 0 1,670 29,768 62,525		AMT 30,247 18,950 0 11,321 2,782 63,301 16,913 14,871 0 1,951 29,566 63,301		AMT 29,753 22,427 0 15,670 2,344 70,194 18,749 18,689 0 2,051 30,705 70,194		AMT 27,151 24,684 0 17,038 2,648 71,521 16,997 19,766 0 2,328 32,429 71,521
	Asset Turnover (x) Fixed Asset Turnover (x) ROA (%) ROE (%) Current Ratio (%) Debt / Asset Ratio (%) Net Debt / Equity Ratio (%) Net Cash Per Share (NT$) Book Value Per Share(NT$)	0.83 2.64 5.2% 10.3% 138% 52% -22% 11.9 54.0		0.71 2.85 4.7% 9.7% 147% 52% -32% 18.1 56.6		0.69 3.38 5.7% 12.0% 155% 53% -45% 25.4 56.3		0.69 3.40 6.5% 14.5% 139% 56% -36% 20.9 58.4		0.74 3.19 7.0% 15.6% 141% 55% -31% 19.3 61.7

Consolidated Statements of Cash flows

Unit: Million NTD Income before Income Tax 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	2013 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 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 3,531 3,080 496 7,106 -2,299 0 71 -2,228 2,048 -1,445 -21 582 298 5,757 27,258	2016 4,477 2,749 1,143 8,369 -1,056 -136 -320 -1,512 -604 -1,708 102 -2,209 -1,658 2,989 30,247	2017 5,543 2,121 -3,031 4,633 -5,000 0 1,241 -3,759 2,632 -2,234 63 461 -1,830 -494 29,753	2018
						6,525 2,969 -1,849
						7,645
						-5,609 0 125
						-5,484
						-2,023 -2,759 41
						-4,741
						-23 -2,603
						27,151

Appendix- PCB Facilities Location

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JiangSu- WuXi Site I (2003)

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JiangSu- WuXi Site II (2007)

HuBei- XianTao (2013)

Taiwan- PingJen (1998)