Getac : Q1 2022

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

CONSOLIDATEDBALANCE SHEETS

March,31 2022 AND 2021

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

	Assets		Notes		March,31 2022				December,31 2021		March,31 2021
			AMOUNT	%				AMOUNT	%				AMOUNT	%
	Current Assets
1100	Cash and cash equivalents	$	5,691,279				16		$	5,785,111			16		$	6,397,343			19
1110	Financial assets at fair value through profit
	or loss-current					20,748				-		13,642			-		5,922			-
1136	Current financial assets at amortised cost,
	net					10,019				-		12,827			-		186,918			1
1150	Notes receivable-net					8,311				-		11,569			-		8,827			-
1170	Accounts receivable-net					7,807,027				22			7,402,690			21			7,600,463			22
1180	Accounts receivable-related parties					29,616				-		52,510			-		26,116			-
1200	Other receivables					184,480				-		165,036			-		92,166			-
130X	Inventories-net					7,393,229				20			7,593,566			21			5,959,893			17
1410	Prepayments					564,216				2			605,065			2			452,079			1
11XX	Total current assets					21,708,925				60			21,642,016			60			20,729,727			60
	Non-current assets
1517	Financial assets at fair value through other
	comprehensive income-non-current					806,307				2			870,122			2			750,354			2
1550	Investments accounted for under the equity
	method					1,203,066				3			1,152,264			3			1,038,085			3
1600	Property, plant and equipment-net					9,207,447				25			8,849,503			25			8,526,995			24
1755	Right-of-use assets					812,422				2			812,647			2			957,305			3
1760	Investment property-net					21,768				-		211,316			1			461,805			1
1780	Intangible assets					670,150				2			652,860			2			682,433			2
1840	Deferred income tax assets					728,394				2			712,179			2			601,958			2
1900	Other non-current assets					961,551				4			941,479			3			1,021,498			3
15XX	Total non-current assets					14,411,105				40			14,202,370			40			14,040,433			40
1XXX	TOTAL ASSETS	$	36,120,030				100		$	35,844,386			100		$	34,770,160			100

(Continued)

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

CONSOLIDATEDBALANCE SHEETS

March,31 2022 AND 2021

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

	Liabilities and Equity		Notes			March,31 2022				December,31 2021			March,31 2021
				AMOUNT	%				AMOUNT	%				AMOUNT	%
	Current liabilities
2100	Short-term borrowings	$		14,312				-	$		13,840			-	$		748,030			2
2120	Financial liabilities at fair value through
	profit or loss-current						15,622				-			3,009			-			22,847			-
2130	Contract liabilities-current						634,548				2				596,083			2				542,638			2
2150	Notes payable						-			-			-		-			44			-
2170	Accounts payable						6,034,823				18				6,273,748			18				6,248,379			18
2180	Accounts payable-related parties						19,701				-			19,702			-			54,721			-
2200	Other payables						4,496,922				12				2,998,207			8				4,857,230			14
2230	Current income tax liabilities						633,535				2				620,757			2				634,936			2
2250	Provision for liabilities-current						307,000				1				290,000			1				171,014			1
2280	Lease liabilities-current						158,554				-			148,372			-			151,556			1
2320	Long-term borrowings, current portion						326,908				1				286,299			1				117,197			-
2365	Refund liabilities-current						350,030				1				314,837			1				499,141			1
2399	Other current liabilities, others						26,562				-			32,876			-			114,315			-
21XX	Total current liabilities						13,018,517				37				11,597,730			33				14,162,048			41
	Non-current liabilities
2527	Contract liabilities-non-current						861,105				2				832,773			2				754,246			2
2540	Long-term borrowings						1,750,645				5				1,812,813			5				1,967,788			6
2550	Provisions for liabilities-non-current						307,092				1				374,687			1				535,843			2
2560	Current tax liabilities-non-current						12,639				-			25,278			-			63,195			-
2570	Deferred income tax liabilities						858,893				2				850,345			2				178,978			-
2580	Lease liabilities-non-current						323,723				1				345,153			1				445,314			1
2600	Other non-current liabilities						35,005				-			42,218			-			225,795			1
25XX	Total non-current liabilities						4,149,102				11				4,283,267			11				4,171,159			12
2XXX	Total Liabilities						17,167,619				48				15,880,997			44				18,333,207			53
	Equity attributable to owners of the parent
	Share capital
3110	Common stock						6,000,554				17				5,976,984			17				5,920,989			17
	Capital surplus
3200	Capital surplus						3,506,868				9				3,457,936			9				3,331,397			9
	Retained earnings
3310	Legal reserve						2,212,079				6				2,212,079			6				1,952,202			6
3320	Special reserve						682,230				2				682,230			2				741,623			2
3350	Unappropriated retained earnings						5,418,704				15				7,055,665			20				3,460,217			10
	Other equity
3400	Other equity interest	(	646,541) (	2)	(	1,162,423) (	3)		(	702,551) (	2)
31XX	Total equity attributable to owners of						17,173,894				47				18,222,471			51				14,703,877			42
	the parent
36XX	Non-controlling interest						1,778,517				5				1,740,918			5				1,733,076			5
3XXX	Total equity						18,952,411				52				19,963,389			56				16,436,953			47
	Significant Contingent Liabilities and
	Unrecognised Contract Commitments
3X2X	TOTAL LIABILITIES AND EQUITY	$		36,120,030				100		$		35,844,386			100		$		34,770,160			100

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

CONSOLIDATEDSTATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED March,31, 2022 AND 2021

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

					For the three months ended March,31
	Items			2022									2021
			AMOUNT		％		AMOUNT		％
4000	Operating revenues	$		7,556,995		100		$	7,243,028		100
5000	Operating costs	(	5,783,321)	(	76)	(	5,493,995)	(	76)
5900	Gross profit			1,773,674			24				1,749,033			24
	Operating expenses
6100	Selling expenses	(	478,631)	(	7)	(	456,218)	(	6)
6200	Administrative expenses	(	379,918)	(	5)	(	376,562)	(	5)
6300	Research and development expenses		(	325,656)	(	4)	(	359,914)	(	5)
	Total operating expenses		(	1,184,205)	(	16)	(	1,192,694)	(	16)
6500	Other income and expenses-net			108			-				12,100			-
6900	Operating profit			589,577			8				568,439			8
	Non-operating income and expenses
7100	Interest income			4,508			-				10,472			-
7010	Other income			12,745			-				37,656			-
7020	Other gains and losses			6,526			-			(	8,112)		-
7050	Finance costs	(	9,102)		-			(	9,557)		-
7060	Share of profit and losses of associates and joint ventures accounted
	for under the equity method			35,120			-				9,596			-
7000	Total non-operating income and expenses			49,797			-				40,055			-
7900	Profit before income tax			639,374			8				608,494			8
7950	Income tax expense	(	123,730)	(	1)	(	106,672)	(	1)
8200	Profit for the year	$		515,644			7			$	501,822			7

(Continued)

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

CONSOLIDATEDSTATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED March,31, 2022 AND 2021

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

					For the three months ended March,31
	Items			2022										2021
			AMOUNT		％				AMOUNT	％
	Other comprehensive income (net)
	Items that will not be reclassified subsequently to profit or loss
8316	Unrealised value gain on equity instrument at fair value through
	comprehensive income	$	(	70,500)	(	1)	$		4,084		-
8320	Share of other comprehensive gain of associates and joint ventures			3,161			-					18,967		-
8310	Other comprehensive income that will not be reclassified to
	profit or loss		(	67,339)	(	1)				23,051		-
	Items that may be reclassified subsequently to profit or loss
8361	Exchange differences arising on translation of foreign operations			607,542			8		(	43,681)	-
8370	Share of other comprehensive loss of associates and joint ventures			10,345			-			(	894)	-
8360	Other comprehensive loss that may be reclassified to profit or loss
		617,887			8			(	44,575)	-
	Other comprehensive income (loss) for the year, net of tax
8300	$		550,548			7		$(	21,524)	-
	Total comprehensive income for the year
8500	$		1,066,192			14		$		480,298		7
	Profit(loss) attributable to：
8610	Owners of the parent	$		517,346			7		$		504,249		7
8620	Non-controlling interest		(	1,702)		-		(	2,427)	-
			$		515,644			7		$		501,822		7
	Total comprehensive income(loss) attributable to：
8710	Owners of the parent	$		1,032,996			14		$		487,068		7
8720	Non-controlling interest			33,196			-		(	6,770)	-
			$		1,066,192			14		$		480,298		7
	Basic earnings per share
9750	Net income attributable to owners of the parent	$						0.86		$					0.85
	Diluted earnings per share
9850	Net income attributable to owners of the parent	$						0.85		$					0.84

GETAC HOLDINGS CORP.(FORMERLY GETAC TECHNOLOGY CORP.)

AND SUBSIDIARIES

CONSOLIDATEDSTATEMENTS OF CHANGES IN EQUITY

YEARS ENDED March,31 2022 AND 2021

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

										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
	Notes		Common Sotck		Capital Surplus		Legal reserve		Special reserve	retained earnings				differences			income			Total			interest			Total Equity
Year ended March,31 2021
Balance at January 1,2021	$	5,892,477	$	3,264,236		$	1,952,202	$	741,623		$		5,076,740		$(		735,369)	$		53,138		$		16,245,047		$		1,748,248		$		17,993,295
Net income for the year		-		-			-			-				504,249					-				-				504,249			(	2,427)				501,822
Other comprehensive (loss) income for the year		-		-			-			-				-		(		40,232)			23,051		(	17,181)	(	4,343)	(	21,524)
Total comprehensive income (loss)		-		-			-			-				504,249			(		40,232)				23,051				487,068			(	6,770)				480,298
Appropriations of 2020 earnings
Cash dividends		-		-			-			-		(	2,123,911)				-				-		(	2,123,911)			-		(	2,123,911)
Change in associates and joint ventures accounted for		-		678			-			-				3,139					-		(	3,139)			678				-				678
under equity method
Exercise of employee stock options		28,512		62,464			-			-				-					-				-				90,976				-				90,976
Compensation cost of share-based payment		-		4,019			-			-				-					-				-				4,019				7,632				11,651
Cash dividends paid to non-controlling interest		-		-			-			-				-					-				-				-		(	16,034)	(	16,034)
Balance at March,31 2021	$	5,920,989	$	3,331,397		$	1,952,202	$	741,623		$		3,460,217		$	(		775,601)		$		73,050		$		14,703,877		$		1,733,076		$		16,436,953
Year ended March,31 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) for the year		-		-			-			-				517,346					-				-				517,346			(	1,702)				515,644
Other comprehensive (loss) income for the year		-		-			-			-				-					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 2021 earnings
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 the equity method
Exercise of employee stock options		23,570		47,578			-			-				-					-				-				71,148				-				71,148
Compenstion 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