Getac : Q1 2023

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.) AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2023, DECEMBER 31,2022 AND MARCH 31,2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

				March 31, 2023			December 31, 2022		March 31, 2022
	Assets			AMOUNT			%			AMOUNT		%			AMOUNT		%
	Current Assets
1100	Cash and cash equivalents	$	9,565,934		26	$	8,105,868	22	$	5,691,279	16
1110	Financial assets at fair value through profit
	or loss-current		11,027		-		29,606	-		20,748	-
1136	Financial assets at amortised cost, net-
	current		3,476		-		503,506	1		10,019	-
1150	Notes receivable-net		3,229		-		6,485	-		8,311	-
1170	Accounts receivable-net		7,014,227		19		7,088,476	20		7,807,027	22
1180	Accounts receivable-related parties		24,023		-		65,853	-		29,616	-
1200	Other receivables		192,978		1		121,760	-		184,480	-
130X	Inventory		5,753,235		15		6,530,165	17		7,393,229	20
1410	Prepayments		426,012		-		501,376	1		564,216	2
11XX	Total current assets		22,994,141		61		22,953,095	61		21,708,925	60
	Non-current assets
1517	Financial assets at fair value through other
	comprehensive income-non-current		852,749		2		885,613	2		806,307	2
1550	Investments accounted for under the equity
	method		1,495,777		4		1,490,205	4		1,203,066	3
1600	Property, plant and equipment		8,855,179		24		9,013,065	24		9,207,447	25
1755	Right-of-use assets		760,212		2		792,998	2		812,422	2
1760	Investment property-net		21,626		-		21,662	-		21,768	-
1780	Intangible assets		685,166		2		696,483	2		670,150	2
1840	Deferred income tax assets		858,393		2		895,501	2		728,394	2
1900	Other non-current assets		903,966		3		910,117	3		961,551	4
15XX	Total non-current assets		14,433,068		39		14,705,644	39		14,411,105	40
1XXX	Total assets	$	37,427,209		100	$	37,658,739	100	$	36,120,030	100

(Continued)

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.) AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2023, DECEMBER 31,2022 AND MARCH 31,2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

				March 31, 2023			December 31, 2022			March 31, 2022
	Liabilities and Equity			AMOUNT			%		AMOUNT			%			AMOUNT			%
	Current liabilities
2100	Short-term borrowings	$	711,215		2	$	521,494		1	$		14,312		-
2120	Financial liabilities at fair value through
	profit or loss-current		12,425		-		39,695		-			15,622		-
2130	Contract liabilities-current		666,525		2		635,087		2			634,548		2
2170	Accounts payable		5,227,737		14		5,724,849		16			6,034,823		18
2180	Accounts payable-related parties		31,206		-		26,829		-			19,701		-
2200	Other payables		4,742,549		13		2,803,028		7			4,496,922		12
2230	Current income tax liabilities		739,946		2		631,738		2			633,535		2
2250	Provision for liabilities-current		283,772		1		756,085		2			307,000		1
2280	Lease liabilities-current		139,003		-		163,973		-			158,554		-
2320	Long-term borrowings, current portion		442,495		1		429,235		1			326,908		1
2365	Refund liabilities-current		461,958		1		336,931		1			350,030		1
2399	Other current liabilities, others		25,024		-		33,111		-			26,562		-
21XX	Total current liabilities		13,483,855		36		12,102,055		32			13,018,517		37
	Non-current liabilities
2527	Contract liabilities-non-current		940,838		3		975,313		3			861,105		2
2540	Long-term borrowings		1,434,965		4		1,526,334		4			1,750,645		5
2550	Provisions for liabilities-non-current		337,324		1		318,412		1			307,092		1
2560	Current tax liabilities-non-current		-		-		-		-			12,639		-
2570	Deferred income tax liabilities		755,954		2		762,378		2			858,893		2
2580	Lease liabilities-non-current		252,988		1		262,440		1			323,723		1
2600	Other non-current liabilities		20,960		-		19,536		-			35,005		-
25XX	Total non-current liabilities		3,743,029		11		3,864,413		11			4,149,102		11
2XXX	Total liabilities		17,226,884		47		15,966,468		43			17,167,619		48
	Equity attributable to owners of parent
	Share capital
3110	Common stock		6,065,004		16		6,034,949		16			6,000,554		17
	Capital surplus
3200	Capital surplus		3,683,560		10		3,615,353		10			3,506,868		9
	Retained earnings
3310	Legal reserve		2,642,411		7		2,642,411		7			2,212,079		6
3320	Special reserve		1,162,423		3		1,162,423		3			682,230		2
3350	Unappropriated retained earnings		5,037,529		13		6,548,863		17			5,418,704		15
	Other equity
3400	Other equity interest	(	295,824) (	1)	(	199,988) (	1)		(	646,541) (	2)
31XX	Total equity attributable to owners of		18,295,103		48		19,804,011		52			17,173,894		47
	parent
36XX	Non-controlling interest		1,905,222		5		1,888,260		5			1,778,517		5
3XXX	Total equity		20,200,325		53		21,692,271		57			18,952,411		52
	Significant Contingent Liabilities and
	Unrecognised Contract Commitments
3X2X	Total liabilities and equity	$	37,427,209		100	$	37,658,739		100	$		36,120,030		100

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.) AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 31,2023 AND 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT FOR EARNINGS PER SHARE)

					Three months ended March 31
					2023								2022
		Items		AMOUNT			％			AMOUNT			％
	4000	Operating revenues		$	8,155,115				100			$	7,556,995				100
5000	Operating costs	(	6,088,351)	(	75)	(	5,783,321)	(	76)
5900	Gross profit		2,066,764				25				1,773,674				24
		Operating expenses
6100	Selling expenses	(	481,399)	(		6)	(	478,631)	(		7)
6200	Administrative expenses	(	443,502)	(		5)	(	379,918)	(		5)
6300	Research and development expenses	(	368,223)	(		5)	(	325,656)	(		4)
		Total operating expenses	(	1,293,124)	(		16)	(	1,184,205)	(		16)
6500	Other income and expenses-net		-				-				-				-
6900	Operating profit		773,640				9				589,469				8
		Non-operating income and expenses
7100	Interest income		45,327				1				4,508				-
7010	Other income		21,265				-				12,853				-
7020	Other gains and losses		65,092				1				6,526				-
7050	Finance costs	(	18,462)			-		(	9,102)			-
7060	Share of profit and losses of associates and joint ventures accounted for
		under the equity method		76,104				1				35,120				-
7000	Total non-operating income and expenses		189,326				3				49,905				-
7900	Profit before income tax		962,966				12				639,374				8
7950	Income tax expense	(	157,816)		(		2)		(	123,730)		(		1)
8200	Profit for the period	$	805,150				10		$		515,644				7

(Continued)

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.) AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 31,2023 AND 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT FOR EARNINGS PER SHARE)

	Three months ended March 31
	2023		2022
Items	AMOUNT	％		AMOUNT	％

	Other comprehensive income (loss) (net)
	Items that will not be reclassified subsequently to profit or loss
8316	Unrealised value gain (loss) on equity instrument at fair value through other
	comprehensive income (loss)
8320	Share of other comprehensive income (loss) of associates and joint ventures
8310	Other comprehensive income (loss) that will not be reclassified to profit or loss
	Items that may be reclassified subsequently to profit or loss
8361	Exchange differences arising on translation of foreign operations
8370	Share of other comprehensive income (loss) of associates and joint ventures
8360	Other comprehensive income (loss) that may be reclassified to profit or loss
8300	Other comprehensive income (loss) for the period, net of tax
8500	Total comprehensive income (loss) for the period
	Profit (loss) attributable to：
8610	Owners of the parent
8620	Non-controlling interest
	Comprehensive income (loss) attributable to：
8710	Owners of the parent
8720	Non-controlling interest
	Basic earnings per share
9750	Net income attributable to owners of the parent
	Diluted earnings per share
9850	Net income attributable to owners of the parent

$(	32,864)		-	$(	70,500)	(	1)
(	6,462)		-		3,161		-
(	39,326)		-	(	67,339)	(	1)
(	35,385)	(	1)		607,542		8
	350		-		10,345		-
(	35,035)	(	1)		617,887		8
$(	74,361)	(	1)	$	550,548		7
$	730,789		9	$	1,066,192		14
$	766,420		10	$	517,346		7
	38,730		-	(	1,702)		-
$	805,150		10	$	515,644		7
$	687,601		8	$	1,032,996		14
	43,188		1		33,196		-
$	730,789		9	$	1,066,192		14
$			1.27	$			0.86
$			1.25	$			0.85

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.)

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

THREE MONTHS ENDED MARCH 31, 2023 AND 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

								Equity attributable to owners of the parent
										Retained earnings				Otehr equity interest
																		Unrelised gains
																		(losses) from
																		financial assets
																		mearsured at
																Currency		fair value
																		through other
												Unappropriated			translation		comprehensive				Non-controlling
		Common Sotck	Capital Surplus		Legal reserve	Special reserve	retained earnings			differences		income		Total		interest		Total Equity
2022
Balance at January 1,2022	$	5,976,984	$	3,457,936	$	2,212,079	$	682,230	$	7,055,665	$(		1,416,803) $	254,380	$	18,222,471	$	1,740,918	$	19,963,389
Net income (loss)			-		-		-		-		517,346			-		-		517,346	(	1,702)		515,644
Other comprehensive (loss) income			-		-		-		-		-			582,989	(	67,339)		515,650		34,898		550,548
Total comprehensive income (loss)			-		-		-		-		517,346			582,989	(	67,339)		1,032,996		33,196		1,066,192
Appropriations of 2021earnings
Cash dividends			-		-		-		-	(	2,154,075)			-		-	(	2,154,075)		-	(	2,154,075)
Change in associates and joint ventures accounted for			-		129		-		-	(	232)			-		232		129		-		129
under equity method
Exercise of employee stock options			23,570		47,578		-		-		-			-		-		71,148		-		71,148
Compensation cost of share-based payment			-		1,225		-		-		-			-		-		1,225		4,403		5,628
Balance at March 31, 2022	$	6,000,554	$	3,506,868	$	2,212,079	$	682,230	$	5,418,704	$(		833,814)	$	187,273	$	17,173,894	$	1,778,517	$	18,952,411
2023
Balance at January 1, 2023	$	6,034,949	$	3,615,353	$	2,642,411	$	1,162,423	$	6,548,863	$(		481,109)	$	281,121	$	19,804,011	$	1,888,260	$	21,692,271
Net income			-		-		-		-		766,420			-		-		766,420		38,730		805,150
Other comprehensive (loss) income			-		-		-		-		-	(		39,493)	(	39,326)	(	78,819)		4,458	(	74,361)
Total comprehensive income (loss)			-		-		-		-		766,420	(		39,493)	(	39,326)		687,601		43,188		730,789
Appropriations of 2022 earnings
Cash dividends			-		-		-		-	(	2,294,771)			-		-	(	2,294,771)		-	(	2,294,771)
Change in associates and joint ventures accounted for			-		1,246		-		-		17,017			-	(	17,017)		1,246		-		1,246
under the equity method
Exercise of employee stock options			30,055		54,943		-		-		-			-		-		84,998		1,049		86,047
Compenstion cost of share-based payment			-		12,018		-		-		-			-		-		12,018		5,435		17,453
Cash dividends paid to non-controlling interest			-		-		-		-		-			-		-		-	(	32,710)	(	32,710)
Balance at March 31, 2023	$	6,065,004	$	3,683,560	$	2,642,411	$	1,162,423	$	5,037,529	$(		520,602)	$	224,778	$	18,295,103	$	1,905,222	$	20,200,325