|
|
¡@ |
CONSOLIDATED BALANCE SHEETS
KGI SECURITIES CO. LTD. AND
SUBSIDIARIES
December 31, 2010 and 2009
(Expressed
in New Taiwan Thousand Dollars)
| ASSETS |
12/31/10
|
12/31/09 |
| CURRENT ASSETS |
|
|
| ¡@Cash and cash equivalents
(Notes II and IV.1) |
$12,507,042
|
$10,655,407
|
¡@Financial assets measured at fair value through profit or loss-current
(Notes II, IV.2 and VI) |
58,539,538
|
46,577,779
|
| ¡@Bonds purchased under
resale agreements (Notes II and IV.3) |
6,251,044
|
1,386,154
|
| ¡@Margin loans receivable-net
(Note II) |
36,509,216
|
28,635,036 |
|
Refinancing Margin |
- |
22,854 |
|
Refinancing deposits receivable |
- |
19,076 |
|
Customers' margin accounts
(Note IV.4) |
32,015,235 |
31,687,186 |
|
Futures commission
merchant receivable |
10,871 |
11,366 |
| ¡@Stock
borrowing collateral price |
225,627
|
77,081
|
| ¡@Stock
borrowing margin |
2,006,189
|
1,549,772
|
| ¡@Notes receivable-net
(Note II) |
- |
1,667 |
| ¡@Accounts receivable-net
(Note II) |
2,545,589
|
1,669,686
|
|
Prepayments |
241,739 |
177,082 |
| ¡@Pledged assets-current
(Note VI) |
1,495,551
|
960,487
|
| ¡@Deferred income tax assets-current
(Notes II, III and IV.26) |
65,304 |
- |
|
Available-for-sale
financial assets-current (Notes II, IV.5 and VI) |
5,125,358 |
3,716,970 |
| ¡@Other current assets
(Notes II, IV.5 and VI) |
1,197,290
|
684,725
|
| ¡@¡@Total Current Assets |
158,735,593
|
127,832,328
|
| ¡@ |
|
¡@ |
| FUNDS AND INVESTMENTS |
|
|
| ¡@Long-term equity investments using the equity method
(Notes II, and IV.5) |
- |
- |
| ¡@Available-for-sale financial assets-non-current
(Notes II, IV.6 and VI) |
4,685,779
|
4,302,596
|
Bonds investments for
which no active market exist-non-current
(Notes II and IV.7) |
19,673 |
24,204 |
| ¡@¡@Total
Funds and Investments |
4,705,452
|
4,326,800
|
| ¡@ |
|
¡@ |
| PROPERTY AND EQUIPMENT-NET
(NOTES II, IV.8 and VI) |
|
|
| ¡@Land |
2,535,791
|
2,541,684
|
| ¡@Buildings |
1,024,482
|
1,030,546
|
| ¡@Equipment |
2,919,044
|
2,879,976
|
| ¡@Prepayments for property and equipment |
20,896
|
33,652
|
| ¡@Leasehold improvements |
293,456
|
275,138
|
| ¡@Less: Accumulated depreciation |
(2,564,711)
|
(2,349,182)
|
| ¡@¡@Property and Equipment- Net |
4,228,958
|
4,411,814
|
| ¡@ |
|
¡@ |
| INTANGIBLE ASSETS |
|
|
| Goodwill (Note II) |
6,408,155 |
6,508,566 |
|
Deferred pension costs
(Notes II and IV.17) |
4,055 |
6,473 |
|
Other intangible assets
(Note II) |
2,961,489 |
3,277,020 |
| ¡@
Total Intangible Assets |
9,373,699
|
9,792,059
|
| ¡@ |
|
¡@ |
| OTHER ASSETS |
|
|
| ¡@Operation bond
|
1,743,900
|
2,023,900
|
| ¡@Settlement/clearance fund
|
757,601
|
844,236
|
| ¡@Guarantee deposits-out
(Note VI) |
314,817
|
496,798
|
| ¡@Deferred charges
(Note II) |
82,537
|
81,318
|
|
Pledged assets-non-current
(Note VI) |
- |
23,882 |
| ¡@Leased assets-net
(Notes II, IV.8 and VI) |
333,033
|
335,074
|
|
Deferred income tax
assets-non-current (notes II, III and IV.26) |
- |
116,004 |
| ¡@Accounts receivable overdue-net
|
94,405
|
98,470
|
|
Cash and cash
equivalents-collected for settlement of warrants |
5 |
6 |
|
Cash
and cash equivalents-collected for underwriting payment of shares |
151,848
|
41,529
|
|
Others |
377,260 |
345,075 |
| ¡@¡@Total Other Assets |
3,855,406
|
4,406,292
|
| ¡@ |
¡@ |
¡@ |
|
DEBIT ITEMS FOR TRADE
BROKERAGE-NET (Note IV.16) |
- |
- |
|
DEBIT ITEMS FOR TRADE
BROKERAGE-NET (Note I0) |
- |
- |
| ¡@ |
|
¡@ |
| TOTAL ASSETS
|
$180,899,108
|
$150,769,293
|
(continue on next page)
CONSOLIDATED BALANCE SHEETS
KGI SECURITIES CO. LTD. AND
SUBSIDIARIES
December 31, 2010 and 2009
(Expressed
in New Taiwan Thousand Dollars)
| LIABILITIES
AND SHAREHOLDERS' EQUITY |
12/31/10
|
12/31/09 |
| CURRENT LIABILITIES
|
|
|
| ¡@Short-term borrowings
(Notes IV.9 and VI) |
$17,019,906
|
$9,316,149
|
|
Commercial papers
payable-net (Note IV.10) |
17,428,448 |
4,296,665 |
| ¡@Bonds sold under repurchase agreements
(Notes II and IV.11) |
33,130,778
|
29,065,551
|
¡@Financial liabilities measured at fair value through profit or loss-current
(Notes II and IV.12) |
5,905,942
|
6,580,357
|
| ¡@Deposits for short sales |
2,831,662 |
3,765,846
|
| ¡@Short sales proceeds payable |
3,332,805 |
4,386,709
|
|
Securities lending
refundable deposits |
6,289,744 |
3,311,332 |
|
Futures customers' equity |
11,467,336 |
12,316,049 |
|
Notes payable |
30,924 |
18,215 |
| ¡@Accounts payable |
10,227,505 |
1,757,897
|
| ¡@Amounts received in advance |
1,435 |
2,458
|
| ¡@Amounts collected for other parties |
215,286 |
245,454
|
| ¡@Other payable
(Notes II and IV.22) |
4,839,528 |
4,590,044
|
| ¡@Income tax payable
(Notes II, III and IV.26) |
2,152,859 |
2,254,190
|
|
Deferred
income tax liabilities-current (Notes II, III and IV.26) |
- |
3,601 |
|
Current portion of long-term liabilities (Note 14) |
- |
- |
|
Current portion of long-term borrowings (Note IV.13) |
- |
6,188,000 |
| ¡@Other
financial liabilities-current (Note II) |
2,671,128 |
2,464,795
|
| ¡@¡@Total Current Liabilities |
117,545,316 |
90,563,312
|
| ¡@ |
|
¡@ |
| LONG-TERM LIABILITIES |
|
|
| ¡@
Long-term borrowings (Note IV.14) |
300,000 |
640,600 |
| ¡@ |
¡@ |
¡@ |
| OTHER LIABILITIES |
¡@
|
¡@
|
| ¡@Reserve for default losses
(Note IV.15) |
379,565 |
355,399
|
| ¡@Reserve for trading losses
(Note IV.16) |
144,451 |
110,555 |
| ¡@Deposits received |
12,763 |
13,447
|
|
Accrued pension
liabilities-non-current
(Notes II and IV.17) |
586,202 |
527,519 |
| ¡@Deferred
income tax liabilities-non-current (Notes II, III and IV.26) |
93,897 |
- |
| ¡@Deferred
income tax liabilities-non-current (Notes 2 and 27) |
¡@ |
- |
| ¡@Reserve for
bad debts (Note IV.18) |
51,954 |
51,954 |
|
Collected for underwriting payment of shares |
12 |
40,628 |
¡@Others |
51,477 |
6,063
|
| ¡@¡@Total Other Liabilities |
1,320,321 |
1,105,565
|
| ¡@ |
¡@ |
¡@ |
|
CREDIT ITEMS FOR TRADE
BROKERAGE-NET (Note IV.19) |
10,949,038 |
11,204,165 |
| ¡@ |
¡@ |
¡@ |
| ¡@¡@Total Liabilities |
130,114,675 |
103,513,642
|
| ¡@ |
¡@ |
¡@ |
| SHAREHOLDERS' EQUITY |
¡@ |
¡@
|
| ¡@Common stock
(Note IV.20) |
32,072,362 |
32,072,362
|
| ¡@Capital reserve
(Notes II, IV.20 and
IV.21) |
¡@ |
¡@ |
|
Capital reserve-additional paid-in capital common stock |
2,603,148 |
2,602,528 |
|
Capital reserve-treasury stock transactions |
29,553 |
2,517 |
|
Capital reserve-surplus
from business combination |
46,273 |
46,273 |
|
Capital reserve-employee stock option |
87,025 |
87,000 |
|
Retained earnings (Note IV.22) |
¡@ |
¡@ |
| ¡@ Legal reserve |
2,315,256 |
2,084,701
|
| ¡@ Special reserve |
5,335,044 |
6,748,649
|
| ¡@ Unappropriated earnings |
5,229,027 |
2,322,459
|
|
Other
items in shareholders' equity |
¡@ |
¡@ |
| ¡@ Translation adjustments
(Note II) |
(835,464) |
(63,046) |
|
Net loss not recognized as
pension costs (Notes II and IV.17) |
(141,933) |
(112,222) |
| ¡@ Treasury stock
(Notes II and IV.23) |
(621,604) |
(844,811)
|
¡@ Unrealized
gains/(losses) on financial instruments
(Notes II, IV.5 and IV.6) |
1,498,213 |
(548,610) |
|
Equity attributable to shareholders of the parent
company |
47,616,900 |
44,397,800
|
| ¡@ |
¡@ |
¡@ |
|
Minority Interests (Note
II) |
3,167,533 |
2,857,851 |
|
Total Shareholders' Equity |
50,784,433 |
47,255,651 |
| ¡@ |
¡@ |
¡@ |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY ¡@¡@ |
$180,899,108 |
$150,769,293
|
¡@
CONSOLIDATED STATEMENTS OF
INCOME
KGI SECURITIES CO., LTD.
For the Years Ended December 31, 2010 and 2009
(Expressed In New Taiwan Thousand Dollars except for Earnings Per Share )
|
2010
|
2009 |
| REVENUES
(NOTE II) |
![]() |
![]() |
| ¡@Brokerage handling fee revenue
(Note IV.24) |
$9,961,629
|
$6,320,066
|
| ¡@Revenue from underwriting business |
509,590
|
131,379
|
| ¡@Gains on disposal of trading securities-dealing-net |
1,349,052
|
872,979
|
|
Gains on disposal of
trading securities-underwriting-net |
159,433 |
93,780 |
|
Gains on disposal of
trading securities-hedging-net |
467,183 |
642,006 |
| ¡@Revenue from providing agency service for stock affairs |
7,605
|
6,148
|
| ¡@Interest income |
3,089,282
|
1,938,295
|
|
Dividend income |
345,223 |
142,669 |
| ¡@Gains on valuation of trading securities-dealing-net |
229,904
|
723,858
|
|
Gains on valuation of
trading securities-underwriting-net |
- |
76,968 |
|
Gains on valuation of
trading securities-hedging-net |
- |
118,634 |
|
Gains on valuation of
trading securities-underwriting-net (Note 2) |
¡@ |
- |
|
Gains on valuation of
liability for purchase of government bonds |
- |
362 |
|
Gains
on covering of borrowed securities and bonds with resale agreements |
33,746 |
- |
|
Gains
on valuation of borrowed securities and bonds with resale agreements |
7,777 |
- |
| ¡@Gains on warrants issued |
474,850
|
-
|
| ¡@Futures
consulting fees (Note V) |
-
|
- |
| ¡@Gains on derivative financial product-futures |
178,092
|
387,620 |
|
Gains on derivative
financial product-GTSM |
- |
- |
|
Futures consulting fees |
- |
278 |
| ¡@Other operating income |
600,353
|
553,774
|
| ¡@Non-operating revenues and profits |
1,160,404
|
683,560
|
| ¡@ Total Revenues |
18,574,123
|
12,692,376
|
| ¡@ |
|
¡@ |
| COSTS AND EXPENSES
(Note II) |
![]() |
![]() |
| ¡@Brokerage handling fee expense
(Note IV.25) |
764,090
|
443,128
|
| ¡@Dealing handling fee expense
(note IV.25) |
70,519
|
93,289
|
| ¡@Refinancing handling fee expense |
379
|
370
|
|
Losses
on disposal of trading securities-dealing-net |
- |
- |
|
Losses on disposal
of trading securities-hedging-net |
- |
- |
| ¡@Interest expenses |
303,574
|
234,753
|
|
Losses
on valuation of trading securities-dealing-net |
- |
- |
|
Losses on valuation of
trading securities-underwriting-net |
99,687 |
- |
|
Losses
on valuation of trading securities-hedging-net |
18,828 |
- |
|
Losses on valuation of
liability for purchase of government bonds |
362 |
- |
¡@Losses on covering of borrowed securities and bonds
with resale agreements |
-
|
72,085
|
Losses on valuation of
borrowed securities and bonds
with resale agreements |
- |
20,756 |
|
Losses on trading of
borrowed securities |
3,448 |
1,174 |
|
Losses on valuation of
liability for purchase of government bonds (Note 2) |
¡@ |
- |
| ¡@Warrants issuing expenses |
48,591
|
27,395
|
|
Losses on warrants
issued |
- |
63,380 |
|
Futures
commission expenses |
120,642 |
56,001 |
| ¡@Settlement and clearing service expenditure |
139,937
|
73,711
|
|
Loss on derivative
financial product-futures |
- |
- |
|
Loss
on derivative financial product-GTSM |
193,594 |
871,995 |
| ¡@Operating expenses
(Notes II, IV.17 and IV.22) |
11,358,122
|
7,275,324
|
| ¡@Other operating costs |
48,099
|
19,215
|
| ¡@Non-operating expenses and losses |
784,806
|
527,837
|
| ¡@ Total Costs and Expenses |
13,954,678
|
9,780,413
|
| ¡@ |
|
¡@ |
|
INCOME BEFORE INCOME TAX EXPENSES FROM CONTINUING
UNITS |
4,619,445
|
2,911,963
|
|
INCOME TAX EXPENSES
(Notes II, III and IV.26) |
(1,007,134)
|
(488,333)
|
|
NET INCOME |
$3,612,311
|
$2,463,630
|
| ¡@ |
|
¡@ |
|
ATTRIBUTABLE TO |
¡@ |
¡@ |
|
Shareholders of
parent company (Note IV.27) |
$3,121,774
|
$2,305,552
|
|
Minority interests (Note
IV.27) |
490,537 |
158,078 |
| Net
Income (Note IV.27) |
3,612,311 |
2,463,630 |
| ¡@ |
¡@ |
¡@ |
| EARNINGS PER SHARE
(Notes III and IV.27) |
|
¡@
|
|
Net income
attributable to shareholders of the parent company |
$1.00
|
$0.85
|
|
|
 |
