Page 13 - 2013 CPT CSR Report Ebook-English
P. 13

Financial performance

       CPT is fully committed to the stabilization of operations in the field of TFT-LCD and an increase of profitability                                                                                                                                         C o r p o r a t e S o c i a l R e s p o n s i b i l i t y R e p o r t Company Profile
through inventory and cost controls. The company aims to gain an accurate understanding of customers in different
areas and fields and employ various methods to provide them with products and services that meet their actual
expectations The company strives to fully implement the corporate direction and share it with all employees and make
a concerted effort and take joint action in order to achieve optimal results for CPT.

       The government administers financial aid programs that provide tax reductions and exemptions, incentives, and
subsidies for industries on an annual basis as required in accordance with economic, industrial, and monetary policies
to facilitate the promotion and implementation of relevant policies. CPT interacts and cooperates with government
departments on a regular basis and strives to gain a better understanding of relevant policies and programs. The
company submits applications for applicable policies and programs in accordance with relevant regulations. An
efficient use of government resources helps alleviate the financial burden of compliance with government policies and
enhance the industrial competitiveness of the company and enables it to earn profits and fulfill its corporate social

       CPT operations are managed and controlled by Tatung                                                                                    quarter and was able to officially turn losses into profits in
Co. (shareholding ratio of 8.46%). In 2013, the CPT plants in                                                                                 the third quarter. Facing stiff competition, the company still
Taiwan were exempt from taxes due to their losses and did                                                                                     remained profitable in the fourth quarter. CPT embraces a
not receive any financial assistance from the government.                                                                                     spirit of great courage and patience in its continued efforts to
The four Mainland Chinese plants (Fujian Huaguan                                                                                              enhance operational performance.
Optoelectronics, Chunghwa Picture Tubes (Wujiang), CPT
Display Technology (Fujian),CPTF Visual Display (Fuzhou)                                                                                             In 2013, CPT dedicated its efforts to the optimization of
received real estate tax exemptions from local governments                                                                                    product mixes and actively developed high added-value niche
amounting to 10,583,000 RMB. And income tax exemptions                                                                                        products to stimulate its business. The four major product
of 105,730,500 RMB. For the company assets, shareholders’                                                                                     categories are smartphones, tablet computers, vehicle-mounted
equity, and liabilities please refer to p.210 and 211 of the                                                                                  panels, and touch panels. These four categories accounted
annual report                                                                                                                                 for over 90 percent of the overall revenue in the 4th quarter of
                                                                                                                                              2013. In view of the rising production capacity of the Mainland
       The consolidated net income of CPT in 2013 equaled                                                                                     Chinese panel industry, the industry is bound to face further
58.66 billion dollars, over 99% of which was derived from                                                                                     hardships in 2014. CPT will continue to optimize its product
TFT-LCD. CPT shipped a total of 1,945,000 large-sized TFT                                                                                     specifications including FFS/On-Cell/High Resolution/Wide
panels and 543 million medium- and small-sized panels.                                                                                        Color Gamut/Narrow Border technologies to maintain maximum
In 2013, the parent company recorded an after-tax net loss                                                                                    competitiveness in order to reduce operational impacts and
of 4.85 billion NTD. Although the company didn’t earn any                                                                                     implement the policy of enhanced added value of panels. The
profits in 2013, it recorded regular gross profits in the first                                                                               goal is to provide a continued impetus for the creation of new
                                                                                                                                              opportunities and a maximization of benefits.
Chart of associated enterprises
                                                                                                                Chunghwa Picture
                                                                                                                  Tubes, Co., Ltd.

                                                                                         100.00%                                                      53.68%                    100.00%  Kunshan Giantplus Optronics
                                                                                         Bermuda                                                                                         Display Technology Co., Ltd.
                                                                                       CPT Co., Ltd.                                                Giantplus
                                                41.03%                                                              100.00%                   Technology Co., Ltd.
                                                                                                          Giantplus Xuheng
                                                                                                         Investment Company                         100.00%                     100.00%          Shenzhen Giantplus
                                                                                                                                                                                         Optoelectronics Display Co., Ltd.
                                                                                                                                              Giantplus (Samoa)
                                                                                                                                               Holding Co., Ltd.                100.00%  Kunshan Giantplus Optoelectronics
                                                                                                                                                                                                  Technology Co., Ltd.

                                                                                                                                              YearGiantplus Holding

                                                        58.97%      25.00%              100.00%          70.77%                        5.00%    100.00%              100.00%             100.00%              13.05%
                                                  Malaysia            CPTF              British Virgin             CPT Technology
                                                CPT(Labuan)                            Islands Kingston            (Labuan) Co., Ltd.
                                                  Co., Ltd.         Optronics             Technology
                                                                    Co., Ltd.             Corporation                                         Malaysia Chunghwa       Malaysia                4 investment    CPT Display
                                                                                                                                               Picture Tubes Ltd.       Maklin           companies including  Technology
                                                                                                                                                                     Electronics         Dalemont Investment  (Fujian) Ltd.

                                                                                                                                                                          Co.                       Ltd.


                                                                               61.73%  13.46%                                                                                                     12.30%


                                                                                         CPTF Visual     CPT Technology 75.00%                                                           Chunghwa Picture     11.95%
                                                                                       Display (Fuzhou)                                                                                   Tubes (Wujiang)
                                                                                                         (Group) Co., Ltd.             CPT TPV
                                                                                               Ltd.                                    (Optical) Co., Ltd.                                        Ltd.
                                                            Huale Optoelectronic Co.

                                                                            100.00%    CPTF (HK)                                                             75.00%
                                                                                         Limited                                                             75.00%


                                                                                                         4.29%  82.80%                      Kornerstone
                                                                                                                                                              Shenzhen CPT
                                                                                                                                       Technology Co., Ltd.    Technology
                                                                                                                                                             (Group) Co., Ltd.


Shareholder ratio (shareholding ratio)                                                                                                        Consolidated financial statement (Unit: 1000NTD)

Year Financial institutions Other corporations  Individual      Foreign Organizations  Treasury Stock                                                        Year                        2009                    2010        2011  2012  2013
                                                                     and foreigners                                                                                                                           81,691,727
2009                                                                                                                                            Net operating revenue 57,918,638                               -4,080,665    61,471,398 48,265,353 58,660,484
                                                                                                                                                                                                              -13,573,336    -67,103,520 -52,054,893 -51,492,609
              4.84  35.67                                           49.57                9.65 0.27                                              Operating costs                          -77,122,929          -14,228,091    -5,632,122 -3,789,540 7,167,875
                    37.63                                           49.57              12.51 0.27                                                                                                             -15,677,527
2010                                                                                                                                            Gross operating profit (loss) -19,204,291                      8,485,541

              0.02                                                                                                                              Net operating profit (loss) -30,637,846                                      -14,140,889 -11,544,614 -1,045,105

2011                                                                                                                                            Profit before tax (loss) -38,531,771                                         -11,483,636 -11,075,614 -3,953,307

              0.02  37.10                                           52.93                      9.95                                             Profit after tax (loss) -38,016,886                                          -12,479,920 -11,302,162 -4,852,882
                    36.95                                           53.14                      9.91                                                                                                                          8,016,693 7,198,639 8,397,945
2012                                                                                                                                            Manpower costs                           7,429,463

2013                                                                                                                                            Note: Manpower costs include salaries, labor and health insurance fees, pension fund
                                                                                                                                                contributions, and other manpower expenses. Earnings distribution includes legal
                    36.96                                           53.77                      9.27                                             reserves, cash dividends, and employee bonuses No earnings and employee stock
                                                                                                                                                option certificates were distributed between 2009 and 2013.
Note: Corporate shareholder ratios rose in 2009 due to private placement of

ordinary shares

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