Press Room

Board meeting of Walsin Lihwa approves 2013 financial statements

Taipei, March 5 — A board meeting of Walsin Lihwa today approved the company’s 2013 financial statements. The meeting also decided to hold the 2014 general shareholders’ meeting at 09:00 a.m. on June 11 (Wednesday), 2014, at Ballroom of Grand Victoria Hotel (1F, 168, Jingye 4th Road. Zhongshan District, Taipei City).

In 2013, Walsin Lihwa was successful in strengthening its strategic planning and operations in the face of escalating competition in the industry as well as prolonged global stagnation. The 2013 consolidated operating revenue is NT$148.63 billion, with a consolidated gross profit of NT$4.6 billion. However, a loss of NT$3.5 billion was recorded because of asset impairment and IFRS recognition principles, incurring an after-tax loss of NT$2.6 billion, or a loss per share of NT$0.77.

Walsin Lihwa has been dedicating itself to asset activation and optimization over the past few years by strengthening working capital management and transferring ineffective assets to reduce operating costs. Moreover, the company is increasingly successful in its pursuit of strategic alliances, expansion of marketing and sales channels, integration of existing production lines, and capacity efficiency enhancement. The core businesses of Walsin Lihwa remain steadfastly profitable and the trimming of non-core businesses is coming to and end. Moreover, its residence projects in Nanjing will soon become available on schedule. Future profitability of the company is expected to be further strengthened.