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Quanta Computer Inc. Annual Report 2020

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Quanta Computer Inc. Annual Report 2020 Quanta Computer Inc. Annual Report 2020 ◎ Spokesperson Name: Elton Yang Title: Senior VP & CFO, Finance Center Telephone: (03)327-2345 Email: [email protected] ◎ Deputy Spokesperson Name: Carol Hsu Title: Associate Director, IR Division, Finance Center Telephone: (03)327-2345 Email: [email protected] ◎ Company Address & Phone Number Address: No. 188, Wenhua 2nd Rd., Guishan Dist., Taoyuan City, Taiwan Headquarters: No. 211, Wenhua 2nd Rd., Guishan Dist., Taoyuan City, Taiwan Manufacturing Site: No. 178, No. 188, No. 220, Wenhua 2nd Rd., Guishan Dist., Taoyuan City, Taiwan Telephone: (03)327-2345 Taipei Office: 9F., No. 116, Hougang St., Shilin Dist., Taipei City, Taiwan Telephone: (02)2882-1612 ◎ Common Share Transfer Agent and Registrar: Name of Agent: Chinatrust Commercial Bank Address: 5F, No. 83, Sec. 1, Chongqing S. Rd., Zhongzheng Dist., Taipei City, Taiwan 10045 Website: https://ecorp.ctbcbank.com/cts/index.jsp Telephone: (02) 6636-5566 ◎ Auditors For The Latest Financial Statements: Name of Auditors: Wan-Wan Lin, Liu-Feng Yang CPA Firm: KPMG Taiwan Address: 68F, No. 7, Sec. 5, Xinyi Rd., Xinyi Dist., Taipei City, Taiwan 11049 Website: http://www.kpmg.com.tw Telephone: (02) 8101-6666 ◎ Issuance of Global Depositary Receipts (GDRs) Place of Transaction: Luxembourg Stock Exchange (LuxSE) Website: https://www.bourse.lu/security/US74762X4079/70397 ◎ Company’s Website: http://www.quantatw.com Contents I. Report to Shareholders........................................................................................................1 II. Company Profile ..................................................................................................................4 1. Date of Incorporation .....................................................................................................4 2. Key Milestone ................................................................................................................4 III. Corporate Governance ........................................................................................................7 1. Organization Structure ...................................................................................................7 2. Directors and Management Team ................................................................................10 3. Implementation of Corporate Governance ...................................................................27 4. Information of CPA Audit Fee ......................................................................................78 5. Information on Change of CPA .....................................................................................78 6. Chairman, President and/or Management Team in Charge of Finance or Accounting Who Has Served at CPA Firm(s) or Affiliate(s) In The Previous Year ..............................79 7. Net Change in Shareholding or Shares Pledged by Directors, Management Team, and Shareholders with 10% Shareholdings or More ...........................................................79 8. Related Party Relationships Among Top Ten Shareholders ...........................................81 9. Ownership of Shares in Affiliated Enterprises ...............................................................82 IV. Fund Raising ......................................................................................................................83 1. Capitals and Shares ......................................................................................................83 2. Issuance of Corporate Bonds ........................................................................................91 3. Issuance of Preferred Shares ........................................................................................91 4. Issuance of Global Depositary Receipts (GDRs).............................................................92 5. Employee Stock Options...............................................................................................93 6. Employee Restricted Stock ..........................................................................................93 7. New Share Issuance in Connection with Mergers, Acquisitions, and Transfer of Shares ..........................................................................................................................93 8. Financing Plans and Implementations ..........................................................................93 V. Business Activities .............................................................................................................94 1. Business Scope .............................................................................................................94 2. Overview of Market and Sales .................................................................................... 105 3. Employee Status ........................................................................................................ 117 4. Environmental Protection Expenditure ...................................................................... 118 5. Labor Relations .......................................................................................................... 119 6. Material Contracts ..................................................................................................... 121 VI. Financial Information....................................................................................................... 122 1. Five-Year Financial Summary ...................................................................................... 122 2. Five-Year Financial Analysis ........................................................................................ 126 3. Audit Committee’s Review Report ............................................................................. 129 4. Consolidated Financial Statements ............................................................................. 129 5. Individual Financial Statements .................................................................................. 129 6. Financial Difficulties ................................................................................................... 129 VII. Review of Financial Position, Analysis of Financial Performance and Risk Management ............................................................................................................ 130 1. Analysis of Financial Status......................................................................................... 130 2. Analysis of Operation Results ..................................................................................... 131 3. Analysis of Cash Flow ................................................................................................. 132 4. Major Capital Expenditure Items and Impact on Financial and Business .................... 133 5. Re-Investment Policies ............................................................................................... 133 6. Analysis of Risk Management ..................................................................................... 134 7. Other Material Information ........................................................................................ 146 VIII. Special Disclosure ............................................................................................................ 147 1. Summary of Affiliated Companies .............................................................................. 147 2. Private Placement Securities ...................................................................................... 166 3. Status of Shares Acquired or Disposed by Subsidiaries ............................................... 166 4. Other Required Supplementary Notes ....................................................................... 166 5. Events with Material Impacts on Equity or Stock Price ............................................... 166 I. Report to Shareholders In FY2020, the global health care and economic systems faced serious challenges from the impact of COVID-19. Various quarantine measures undertaken by each country to suppress the pandemic have led to significant changes in people's daily consumption and economic activities, thus reshaping new life style and business patterns. Furthermore, global spread of the pandemic, significant fluctuations in crude oil prices and exchange rates, as well as geopolitical conflicts along with other uncertainties, all posed challenges and test the resilience of business operations. In the past year, Quanta experienced disrupted production due to the delayed start of production post the Lunar New Year holidays. Upon the resumption of production, we immediately faced the challenges of labor supply and materials supply constraint, coupled with global logistics disruption on raw materials and finished goods due to the pandemic. However, we exercised our flexibility and strong teamwork capabilities to quickly respond to changes and to seek solutions in an environment full of uncertainties. Thanks to the unremitting efforts of all employees, we managed to turn the tide and successfully turned crisis into opportunities. As a result, we delivered the best full year operating performance since our listing in 1999. Quanta's efforts in lean management was recognized by the Fortune magazine as one of the "World's Most Admired Companies 2021". We were also recognized as one of the “Derwent Top 100 Global Innovators” for three consecutive years since 2019 for our achievements in innovation.
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