1
Stock Code:8046
NAN YA PRINTED CIRCUIT BOARD
CORPORATION AND SUBSIDIARIES
Consolidated Financial Statements
With Independent Auditors' Review Report
For the Three Months Ended March 31, 2024 and 2023
Address: | 7F., No. 390, Sec. 6, Nanjing E. Rd., Neihu Dist., Taipei City |
Telephone: | (02)27122211 |
The independent auditors' review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' review report and consolidated financial statements, the Chinese version shall prevail.
2
Table of contents
Contents | Page | |||
1. | Cover Page | 1 | ||
2. | Table of Contents | 2 | ||
3. | Independent Auditors' Review Report | 3 | ||
4. | Consolidated Balance Sheets | 4 | ||
5. | Consolidated Statements of Comprehensive Income | 5 | ||
6. | Consolidated Statements of Changes in Equity | 6 | ||
7. | Consolidated Statements of Cash Flows | 7 | ||
8. | Notes to the Consolidated Financial Statements | |||
(1) | Company history | 8 | ||
(2) | Approval date and procedures of the consolidated financial statements | 8 | ||
(3) | New standards, amendments and interpretations adopted | 8~9 | ||
(4) | Summary of material accounting policies | 10~11 | ||
(5) | Significant accounting assumptions and judgments, and major sources | 11 | ||
of estimation uncertainty | ||||
(6) | Explanation of significant accounts | 11~29 | ||
(7) | Related-party transactions | 29~33 | ||
(8) | Pledged assets | 33 | ||
(9) | Commitments and contingencies | 34 | ||
(10) | Losses Due to Major Disasters | 34 | ||
(11) | Subsequent Events | 34 | ||
(12) | Other | 34 | ||
(13) | Other disclosures | |||
(a) Information on significant transactions | 35~36 | |||
(b) Information on investees | 36 | |||
(c) Information on investment in mainland China | 36~37 | |||
(d) Major shareholders | 37 | |||
(14) | Segment information | 37~38 |
3
Independent Auditors' Review Report
To the Board of Directors of
Nan Ya Printed Circuit Board Corporation:
Introduction
We have reviewed the accompanying consolidated balance sheets of Nan Ya Printed Circuit Board Corporation and its subsidiaries as of March 31, 2024 and 2023, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the three months ended March 31, 2024 and 2023, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.
Scope of Review
We conducted our reviews in accordance with the Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" of the Republic of China. A review of the consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing of the Republic of China and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
3-1
Conclusion
Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of Nan Ya Printed Circuit Board Corporation and its subsidiaries as of March 31, 2024 and 2023, and of its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2024 and 2023 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.
The engagement partners on the reviews resulting in this independent auditors' review report are Kuo, Hsin-Yi and Lee, Tzu-Hui.
KPMG
Taipei, Taiwan (Republic of China)
May 3, 2024
Notes to Readers
The accompanying consolidated financial statements are intended only to present the consolidated statement of financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally accepted and applied in the Republic of China.
The independent auditors' review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' review report and consolidated financial statements, the Chinese version shall prevail.
4
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
March 31, 2024, December 31 and March 31, 2023
(Expressed in Thousands of New Taiwan Dollars)
March 31, 2024 | December 31, 2023 | March 31, 2023 | |||||||||||||
Assets | Amount | % | Amount | % | Amount | % | |||||||||
Current assets: | |||||||||||||||
1100 | Cash and cash equivalents (note 6(a)) | $ | 12,873,917 | 19 | 12,329,798 | 17 | 23,253,565 | 28 | |||||||
1120 | Current financial assets at fair value through other | 206,424 | - | 237,283 | - | 29,284 | - | ||||||||
comprehensive income | |||||||||||||||
1170 | Notes and accounts receivable, net (notes 6(b) and | 5,528,641 | 8 | 6,849,920 | 10 | 10,940,697 | 13 | ||||||||
(m)) | |||||||||||||||
1180 | Accounts receivable due from related parties (notes | ||||||||||||||
6(b), (m) and 7) | 86,235 | - | 47,714 | - | 96,649 | - | |||||||||
1200 | Other receivables (note 6(c)) | 703,516 | 1 | 612,646 | 1 | 373,560 | 1 | ||||||||
1210 | Other receivables due from related parties (notes | ||||||||||||||
6(c) and 7) | 13,726 | - | 2,302 | - | 46,380 | - | |||||||||
1310 | Inventories (note 6(d)) | 3,686,644 | 6 | 3,896,223 | 6 | 5,335,869 | 6 | ||||||||
1470 | Prepayments and other current assets | 205,395 | - | 498,301 | 1 | 357,088 | - | ||||||||
Total current assets | 23,304,498 | 34 | 24,474,187 | 35 | 40,433,092 | 48 | |||||||||
Non-current assets: | |||||||||||||||
1550 | Investments accounted for using equity method (note | ||||||||||||||
6(e)) | 476,968 | 1 | 486,857 | 1 | 481,642 | 1 | |||||||||
1600 | Property, plant and equipment (note 6(f)) | 42,975,739 | 62 | 43,106,634 | 61 | 40,677,015 | 48 | ||||||||
1755 | Right-of-use assets (notes 6(g) and 7) | 1,659,648 | 2 | 1,707,192 | 2 | 1,905,677 | 2 | ||||||||
1840 | Deferred tax assets | 474,142 | 1 | 647,139 | 1 | 688,395 | 1 | ||||||||
1900 | Other non-current assets | 13,453 | - | 15,436 | - | 28,577 | - | ||||||||
Total non-current assets | 45,599,950 | 66 | 45,963,258 | 65 | 43,781,306 | 52 |
Total assets | $ | 68,904,448 100 | 70,437,445 100 | 84,214,398 100 | ||||||||
Liabilities and equity | March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||||||||||
Amount | % | Amount | % | Amount | % | ||||||||||||||||
Current liabilities: | |||||||||||||||||||||
2130 | Current contract liabilities (note 6(m)) | $ | 2,077,794 | 3 | 1,991,749 | 3 | 2,042,484 | 3 | |||||||||||||
2170 | Accounts payable | 2,120,940 | 3 | 2,731,645 | 4 | 4,987,803 | 6 | ||||||||||||||
2180 | Accounts payable to related parties (note 7) | 242,429 | - | 330,321 | - | 269,271 | - | ||||||||||||||
2216 | Dividends payable | 3,553,910 | 5 | - | - | 11,630,978 | 14 | ||||||||||||||
2219 | Other payables | 1,817,397 | 3 | 2,746,138 | 4 | 2,117,845 | 3 | ||||||||||||||
2220 | Other payables to related parties (note 7) | 35,903 | - | 36,206 | - | 30,724 | - | ||||||||||||||
2230 | Current tax liabilities | 845,257 | 1 | 849,868 | 1 | 3,511,331 | 4 | ||||||||||||||
2281 | Current lease liabilities (note 6(h)) | 7,133 | - | 9,588 | - | 11,969 | - | ||||||||||||||
2282 | Current lease liabilities, related parties (notes 6(h) | ||||||||||||||||||||
and 7) | 252,661 | 1 | 246,114 | - | 244,192 | - | |||||||||||||||
2300 | Other current liabilities | 175,172 | - | 158,806 | - | 310,490 | - | ||||||||||||||
Total current liabilities | 11,128,596 | 16 | 9,100,435 | 12 | 25,157,087 | 30 | |||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
2527 | Non-current contract liabilities (note 6(m)) | 6,707,423 | 10 | 7,233,676 | 11 | 8,054,325 | 9 | ||||||||||||||
2570 | Deferred tax liabilities | 3,416,626 | 5 | 3,441,505 | 5 | 3,153,330 | 4 | ||||||||||||||
2581 | Non-current lease liabilities (note 6(h)) | 1,853 | - | 2,216 | - | 8,986 | - | ||||||||||||||
2582 | Non-current lease liabilities, related parties (notes | ||||||||||||||||||||
6(h) and 7) | 1,384,913 | 2 | 1,435,463 | 2 | 1,620,290 | 2 | |||||||||||||||
2640 | Net defined benefit liability, non-current | 1,101,354 | 2 | 1,112,644 | 2 | 1,581,756 | 2 | ||||||||||||||
2645 | Guarantee deposits received | 256,617 | - | 203,590 | - | 125,707 | - | ||||||||||||||
Total non-current liabilities | 12,868,786 | 19 | 13,429,094 | 20 | 14,544,394 | 17 | |||||||||||||||
Total liabilities | 23,997,382 | 35 | 22,529,529 | 32 | 39,701,481 | 47 | |||||||||||||||
Equity (note 6(k)): | |||||||||||||||||||||
3100 | Ordinary shares | 6,461,655 | 9 | 6,461,655 | 9 | 6,461,655 | 8 | ||||||||||||||
3200 | Capital surplus | 18,125,615 | 26 | 18,125,615 | 26 | 18,125,608 | 22 | ||||||||||||||
3310 | Legal reserve | 7,857,185 | 12 | 7,857,185 | 11 | 5,896,621 | 7 | ||||||||||||||
3320 | Special reserve | 761,647 | 1 | 761,647 | 1 | 861,246 | 1 | ||||||||||||||
3350 | Unappropriated retained earnings | 12,108,058 | 18 | 15,814,388 | 23 | 13,833,347 | 16 | ||||||||||||||
3400 | Other equity interest | (407,094) | (1) | (1,112,574) | (2) | (665,560) | (1) | ||||||||||||||
Total equity | 44,907,066 | 65 | 47,907,916 | 68 | 44,512,917 | 53 | |||||||||||||||
Total liabilities and equity | $ | 68,904,448 | 100 | 70,437,445 | 100 | 84,214,398 | 100 | ||||||||||||||
See accompanying notes to consolidated financial statements.
5
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
For the three months ended March 31, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Share)
4000
5000
For the three months ended
March 31,
2024 | 2023 | ||||||||
Amount | % | Amount | % | ||||||
Operating revenue (notes 6(m) and 7) | $ 7,100,572 | 100 | 12,580,657 | 100 | |||||
Operating costs (notes 6(d), (f), (g), (h), (i), (n) and 7) | 7,481,039 | 105 | 8,862,775 | 70 | |||||
Gross profit from operations | (380,467) | (5) | 3,717,882 | 30 | |||||
Operating expenses (notes 6(b), (f), (g), (h), (i), (n) and 7): |
6100 | Selling expenses | 90,182 | 1 | 140,279 | 1 | |||||||
6200 | Administrative expenses | 323,358 | 5 | 412,448 | 4 | |||||||
6000 | Total operating expenses | 413,540 | 6 | 552,727 | 5 | |||||||
6900 | Net operating (loss) income | (794,007) | (11) | 3,165,155 | 25 | |||||||
Non-operating income and expenses (notes 6(e), (f), (h), (o) and 7): | ||||||||||||
7100 | Interest income | 72,660 | 1 | 65,563 | - | |||||||
7010 | Other income | 190,167 | 3 | 67,094 | 1 | |||||||
7020 | Other gains and losses | 283,712 | 4 | (151,713) | (1) | |||||||
7050 | Finance costs | (4,552) | - | (5,026) | - | |||||||
7060 | Share of profit of associates accounted for using equity method | 10,609 | - | 7,287 | - | |||||||
Total non-operating income and expenses | 552,596 | 8 | (16,795) | - | ||||||||
(Loss) profit before tax | ||||||||||||
7900 | (241,411) | (3) | 3,148,360 | 25 | ||||||||
7950 | Less: Tax (benefit) expense (note 6(j)) | (88,991) | (1) | 823,119 | 7 | |||||||
(Loss) profit | ||||||||||||
8200 | (152,420) | (2) | 2,325,241 | 18 | ||||||||
8300 | Other comprehensive income (notes 6(e), (j) and (k)): | |||||||||||
8310 | Components of other comprehensive income that will not be reclassified to profit or loss | |||||||||||
8316 | Unrealized (losses) gains from investments in equity instruments measured at fair value through other | |||||||||||
comprehensive income | (30,859) | - | 813 | - | ||||||||
8320 | Share of other comprehensive income of associates accounted for using equity method | (8,558) | - | 4,322 | - | |||||||
8349 | Less: income tax related to components of other comprehensive income that will not be reclassified to profit | |||||||||||
or loss | - | - | - | - | ||||||||
Components of other comprehensive income that will not be reclassified to profit or loss | (39,417) | - | 5,135 | - | ||||||||
8360 | Components of other comprehensive income that will be reclassified to profit or loss | |||||||||||
8361 | Exchange differences on translation | 931,121 | 13 | 113,690 | 1 | |||||||
8399 | Less: income tax related to components of other comprehensive income that will be reclassified to profit or | |||||||||||
loss | 186,224 | 3 | 22,738 | - | ||||||||
Components of other comprehensive income that will be reclassified to profit or loss | 744,897 | 10 | 90,952 | 1 | ||||||||
8300 | Other comprehensive income, net | 705,480 | 10 | 96,087 | 1 | |||||||
8500 | Total comprehensive income | $ | 553,060 | 8 | 2,421,328 | 19 | ||||||
Earnings per share (note 6(l)) | ||||||||||||
9750 | Basic earnings per share | $ | (0.24) | 3.60 | ||||||||
9850 | Diluted earnings per share | $ | (0.24) | 3.60 | ||||||||
See accompanying notes to consolidated financial statements.
6
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Changes in Equity
For the three months ended March 31, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars)
Other equity interest | |||||||||||||||||||||||||||||||||||
Unrealized | |||||||||||||||||||||||||||||||||||
gains (losses) | |||||||||||||||||||||||||||||||||||
on financial | |||||||||||||||||||||||||||||||||||
Exchange | assets | ||||||||||||||||||||||||||||||||||
differences on | measured at | ||||||||||||||||||||||||||||||||||
translation of | fair value | ||||||||||||||||||||||||||||||||||
Unappropriated | foreign | through other | |||||||||||||||||||||||||||||||||
Ordinary | Capital | Legal | Special | retained | financial | comprehensive | Total | ||||||||||||||||||||||||||||
Balance at January 1, 2023 | share | surplus | reserve | reserve | earnings | statements | income | Total | equity | ||||||||||||||||||||||||||
$ | 6,461,655 | 18,125,608 | 5,896,621 | 861,246 | 23,139,084 | (744,544) | (17,103) | (761,647) | 53,722,567 | ||||||||||||||||||||||||||
Profit for the three months ended March 31, 2023 | - | - | - | - | 2,325,241 | - | - | - | 2,325,241 | ||||||||||||||||||||||||||
Other comprehensive income for the three months ended March 31, 2023 | - | - | - | - | - | 90,952 | 5,135 | 96,087 | 96,087 | ||||||||||||||||||||||||||
Total comprehensive income for the three months ended March 31, 2023 | - | - | - | - | 2,325,241 | 90,952 | 5,135 | 96,087 | 2,421,328 | ||||||||||||||||||||||||||
Appropriation and allocation of earnings: | |||||||||||||||||||||||||||||||||||
Cash dividends of ordinary share | - | - | - | - | (11,630,978) | - | - | - | (11,630,978) | ||||||||||||||||||||||||||
Balance at March 31, 2023 | $ | 6,461,655 | 18,125,608 | 5,896,621 | 861,246 | 13,833,347 | (653,592) | (11,968) | (665,560) | 44,512,917 | |||||||||||||||||||||||||
Balance at January 1, 2024 | |||||||||||||||||||||||||||||||||||
$ | 6,461,655 | 18,125,615 | 7,857,185 | 761,647 | 15,814,388 | (1,056,659) | (55,915) | (1,112,574) | 47,907,916 | ||||||||||||||||||||||||||
Loss for the three months ended March 31, 2024 | - | - | - | - | (152,420) | - | - | - | (152,420) | ||||||||||||||||||||||||||
Other comprehensive income for the three months ended March 31, 2024 | - | - | - | - | - | 744,897 | (39,417) | 705,480 | 705,480 | ||||||||||||||||||||||||||
Total comprehensive income for the three months ended March 31, 2024 | - | - | - | - | (152,420) | 744,897 | (39,417) | 705,480 | 553,060 | ||||||||||||||||||||||||||
Appropriation and allocation of earnings: | |||||||||||||||||||||||||||||||||||
Cash dividends of ordinary share | - | - | - | - | (3,553,910) | - | - | - | (3,553,910) | ||||||||||||||||||||||||||
Balance at March 31, 2024 | |||||||||||||||||||||||||||||||||||
$ | 6,461,655 | 18,125,615 | 7,857,185 | 761,647 | 12,108,058 | (311,762) | (95,332) | (407,094) | 44,907,066 | ||||||||||||||||||||||||||
See accompanying notes to consolidated financial statements.
7
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the three months ended March 31, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars)
For the three months ended
March 31, | ||||||
2024 | 2023 | |||||
Cash flows from operating activities: | ||||||
(Loss) profit before tax | $ | (241,411) | 3,148,360 | |||
Adjustments: | ||||||
Adjustments to reconcile profit: | ||||||
Depreciation expense | 1,596,927 | 1,278,150 | ||||
Interest expense | 4,552 | 5,026 | ||||
Interest income | (72,660) | (65,563) | ||||
Share of profit of associates accounted for using equity method | (10,609) | (7,287) | ||||
Loss on disposal of property, plant and equipment | 478 | 21,604 | ||||
(Reversal of) impairment loss on non-financial assets | (75) | (9) | ||||
Unrealized foreign exchange gain | (100,946) | (15,277) | ||||
Total adjustments to reconcile profit | 1,417,667 | 1,216,644 | ||||
Changes in operating assets and liabilities: | ||||||
Changes in operating assets: | ||||||
Decrease in notes and accounts receivable (including related parties) | 1,348,291 | 3,858,209 | ||||
Increase in other receivables (including related parties) | (17,349) | (127,465) | ||||
Decrease in inventories | 207,212 | 466,676 | ||||
Decrease (increase) in prepayments | 14,718 | (22,191) | ||||
Total changes in operating assets | 1,552,872 | 4,175,229 | ||||
Changes in operating liabilities: | ||||||
(Decrease) increase in contract liabilities | (440,208) | 1,379,943 | ||||
Decrease in accounts payable (including related parties) | (694,006) | (54,140) | ||||
Decrease in other payables (including related parties) | (929,044) | (1,463,413) | ||||
Increase in other current liabilities | 16,366 | 89,918 | ||||
Decrease in net defined benefit liabilities | (11,290) | (320,331) | ||||
Total changes in operating liabilities | ||||||
(2,058,182) | (368,023) | |||||
Total changes in operating assets and liabilities | ||||||
(505,310) | 3,807,206 | |||||
Total adjustments | 912,357 | 5,023,850 | ||||
Cash inflow generated from operations | 670,946 | 8,172,210 | ||||
Interest received | 69,186 | 59,512 | ||||
Interest paid | (4,552) | (5,026) | ||||
Income taxes paid | (4,523) | (380,083) | ||||
Net cash flows from operating activities | 731,057 | 7,846,613 | ||||
Cash flows used in investing activities: | ||||||
Acquisition of financial assets at fair value through other comprehensive income | - | (28,471) | ||||
Acquisition of property, plant and equipment | (792,992) | (4,563,367) | ||||
Proceeds from disposal of property, plant and equipment | 1,158 | 3,211 | ||||
Decrease in other financial assets (recognized as other current assests) | 277,922 | - | ||||
Decrease (increase) in other non-current assets | 1,983 | (16,980) | ||||
Net cash flows used in investing activities | ||||||
(511,929) | (4,605,607) | |||||
Cash flows used in financing activities: | ||||||
Increase (decrease) in guarantee deposits received | 53,027 | (3,368) | ||||
Payment of lease liabilities | (64,787) | (62,904) | ||||
Net cash flows used in financing activities | ||||||
(11,760) | (66,272) | |||||
Effect of exchange rate changes on cash and cash equivalents | 336,751 | 34,714 | ||||
Net increase in cash and cash equivalents | 544,119 | 3,209,448 | ||||
Cash and cash equivalents at beginning of period | 12,329,798 | 20,044,117 | ||||
Cash and cash equivalents at end of period | $ | 12,873,917 | 23,253,565 | |||
See accompanying notes to consolidated financial statements.
8
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Notes to the Consolidated Financial Statements
For the Three Months Ended March 31, 2024 and 2023
(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)
(1) Company history
Nan Ya Printed Circuit Board Corporation "the Company" was legally established with the approval by the Ministry of Economic Affairs on October 28, 1997, with registered address at 7F., No. 390, Sec. 6, Nanjing E. Rd., Neihu Dist., Taipei City, Taiwan. The Company and its subsidiaries "the Group" main operating activities are primarily in the manufacturing and selling of printed circuit boards.
(2) Approval date and procedures of the consolidated financial statements
The accompanying consolidated financial statements were approved and authorized for issuance by the Board of Directors on May 3, 2024 .
- New standards, amendments and interpretations adopted:
-
The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission, R.O.C. which have already been adopted.
The Group has initially adopted the following new amendments, which do not have a significant impact on its consolidated financial statements, from January 1, 2024: - Amendments to IAS 1 "Classification of Liabilities as Current or Non-current"
- Amendments to IAS 1 "Non-current Liabilities with Covenants"
- Amendments to IAS 7 and IFRS 7 "Supplier Finance Arrangements"
- Amendments to IFRS 16 "Lease Liability in a Sale and Leaseback"
- The impact of IFRS issued by IASB but not yet endorsed by the FSC
-
The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission, R.O.C. which have already been adopted.
The following new and amended standards, which may be relevant to the Group, have been issued by the International Accounting Standards Board (IASB), but have yet to be endorsed by the FSC:
Standards or | Effective date per | |||
Interpretations | Content of amendment | IASB | ||
IFRS 18 "Presentation | The new standard introduces three categories | January 1, 2027 | ||
and Disclosure in | of income and expenses, two income statement | |||
Financial Statements" | subtotals and one single note on management | |||
performance measures. The three amendments, | ||||
combined with enhanced guidance on how to | ||||
disaggregate information, set the stage for | ||||
better and more consistent information for | ||||
users, and will affect all the entities. |
(Continued)
9
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
Standards or | Effective date per | ||||||||
Interpretations | Content of amendment | IASB | |||||||
IFRS 18 "Presentation | ● | A more structured income statement: under | January 1, 2027 | ||||||
and Disclosure in | current standards, companies use different | ||||||||
Financial Statements" | formats to present their results, making it | ||||||||
difficult for investors to compare financial | |||||||||
performance across companies. The new | |||||||||
standard promotes a more structured | |||||||||
income statement, introducing a newly | |||||||||
defined ' operating | profit' | subtotal and a | |||||||
requirement for all income and expenses to | |||||||||
be allocated between three new distinct | |||||||||
categories based on a company' s main | |||||||||
business activities. | |||||||||
● | Management | performance | measures | ||||||
(MPMs): the new standard introduces a | |||||||||
definition for management | performance | ||||||||
measures, and requires companies to | |||||||||
explain in a single note to the financial | |||||||||
statements why the measure provides useful | |||||||||
information, | how | it is | calculated and |
reconcile it to an amount determined under IFRS Accounting Standards.
- Greater disaggregation of information: the new standard includes enhanced guidance on how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes.
The Group is evaluating the impact on its consolidated financial position and consolidated financial performance upon the initial adoption of the abovementioned standards or interpretations. The results thereof will be disclosed when the Group completes its evaluation.
The Group does not expect the following other new and amended standards, which have yet to be endorsed by the FSC, to have a significant impact on its consolidated financial statements:
- Amendments to IFRS 10 and IAS 28 "Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture"
- IFRS 17 " Insurance Contracts" and amendments to IFRS 17 " Insurance Contracts"
- Amendments to IFRS 17 "Initial Application of IFRS 17 and IFRS 9 - Comparative Information"
- Amendments to IAS21 "Lack of Exchangeability"
(Continued)
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NYPCB – Nan Ya Printed Circuit Board Corporation published this content on 21 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2024 07:47:30 UTC.