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ASUSTEK COMPUTER INC. NON-CONSOLIDATED FINANCIAL STATEMENTS December 31, 2007 and 2006 with Report of Independent Auditors

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ASUSTEK COMPUTER INC. NON-CONSOLIDATED FINANCIAL STATEMENTS December 31, 2007 and 2006 with Report of Independent Auditors ASUSTEK COMPUTER INC. NON-CONSOLIDATED FINANCIAL STATEMENTS December 31, 2007 and 2006 With Report of Independent Auditors The reader is advised that these financial statements have been prepared originally in Chinese. In the event of a conflict between these financial statements and the original Chinese version or difference in interpretation between the two versions, the Chinese language financial statements shall prevail. English Translations of Financial Statements Originally Issued in Chinese ASUSTEK COMPUTER INC. NON-CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2007 AND 2006 (Expressed in New Taiwan Thousand Dollars) ASSETS Notes 2007 2006 LIABILITIES AND STOCKHOLDERS' EQUITY Notes 2007 2006 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents II, IV.1 $9,174,219 $10,791,836 Notes and accounts payable $80,372,075 $109,230,069 Financial assets at fair value through profit or loss-current II, IV.2 7 ,257,169 4,218,719 Notes and accounts payable -affiliated companies V 837,669 9,007,117 Notes and accounts receivable-Net II, IV.3 61 ,863,244 80,950,232 Income tax payable II, IV.19 5,795,472 3,558,780 Accounts receivable-affiliated companies-Net II, IV.3, V 45 ,747,118 21,152,900 Accrued expenses II, IV.12, V 31,771,898 21,553,421 Other receivables-Net II,V 5 ,069,634 1,627,107 Other payables V 771,563 469,653 Inventories-Net II, IV.4 53 ,643,865 72,627,961 Receipts in advance V 2,412,198 2,502,732 Prepayments V 121 ,788 162,382 Bonds payable-current portion IV.11 - 6,613,377 Other current assets 101 ,863 - Other current liabilities V 52,873 90,327 Deferred income tax assets-current II, IV.19 1 ,023,180 458,020 Total Current Liabilities 122,013,748 153,025,476 Total Current Assets 184,002,080 191,989,157 LONG-TERM DEBT II, IV.11 Financial liabilities at fair value through profit or loss-noncurrent 91,147 147,600 LONG-TERM INVESTMENTS Bonds payable 14,111,499 10,847,207 Available-for-sale financial assets-noncurrent II, IV.5 5,683,155 8,253,489 Total Long-term Debt 14,202,646 10,994,807 Financial assets evaluated by cost method-noncurrent II, IV.6 243,178 100,001 Long-term investments evaluated by equity method II, IV.7,V 100,028,404 88,268,594 OTHER LIABILITIES Total Long-term Investments 105,954,737 96,622,084 Deposits received V 16,703 15,368 Deferred credits II, IV.7 1,494,504 1,108,989 Deferred income tax liabilities-noncurrent II, IV.19 1,798,631 1,518,752 PROPERTY, PLANT AND EQUIPMENT II, IV.8, V Total Other Liabilities 3,309,838 2,643,109 Land 3,238,133 3,238,133 Total Liabilities 139,526,232 166,663,392 Buildings and equipment 4,332,167 4,467,377 Machinery and equipment 909,371 1,930,084 STOCKHOLDERS' EQUITY Warehousing equipment 28,239 34,932 Capital stock IV.13 37,283,589 34,070,702 Instrument equipment 1,473,393 1,317,820 Additional paid-in capital IV.14 Transportation equipment 36,303 38,159 Premium on capital stock 20,213,812 17,813,532 Office equipment 6,460 18,480 Premium on conversion of bonds 6,112,241 3,110,728 Miscellaneous equipment 582,309 515,483 Treasury stock transactions 617 617 Total Costs 10,606,375 11,560,468 Stock option 1,020,109 1,020,705 Less: Accumulated depreciation (2,245,398) (2,796,392) Others 2,053,583 805,876 Add: Prepayments on purchase of equipment 221,176 194,483 Total additional paid-in capital 29,400,362 22,751,458 Property, Plant and Equipment-Net 8,582,153 8,958,559 Retained earnings Legal reserve IV.15 14,502,229 12,580,095 Special reserve IV.16 - 614,571 OTHER ASSETS Unappropriated earnings IV.16 78,127,900 60,163,931 Assets held for lease IV.9 193,037 20,077 Total retained earnings 92,630,129 73,358,597 Refundable deposits V, VI 254,340 267,351 Other adjustments of stockholders' equity Deferred charges II 1,467,160 1,190,433 Translation adjustments II 1,124,179 (435,027) Accounts receivable-overdue II, IV.10 - 24 Unrecognized loss on pension cost II (289) (3,016) Long-term accounts receivable-affiliated companies IV.3, V 4 ,998 2,465 Unrealized profit/(loss) of financial assets II, IV.5 511,248 2,724,181 Others V 16,945 80,137 Total other adjustments of stockholders' equity 1,635,138 2,286,138 Total Other Assets 1,936,480 1,560,487 Total Stockholders' Equity 160,949,218 132,466,895 TOTAL ASSETS $300,475,450 $299,130,287 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $300,475,450 $299,130,287 The accompanying notes are an integral part of the financial statements. 2 English Translations of Financial Statements Originally Issued in Chinese ASUSTEK COMPUTER INC. NON-CONSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006 (Expressed in New Taiwan Thousand Dollars except for Earnings Per Share) Notes 2007 2006 NET SALES II, IV.17, V $589,905,832 $386,039,184 COST OF SALES IV.18, V (548,696,610) (358,576,759) GROSS PROFIT 41,209,222 27,462,425 LESS: UNREALIZED GROSS PROFIT II (1,308,371) (890,117) ADD: REALIZED GROSS PROFIT II 890,117 426,204 REALIZED GROSS PROFIT 40,790,968 26,998,512 OPERATING EXPENSES IV.18, V (24,758,011) (17,621,824) OPERATING INCOME 16,032,957 9,376,688 NON-OPERATING INCOMES AND GAINS Interest income V 802,212 422,511 Investment income under equity method II, IV.7 13,457,553 10,937,943 Dividends income 279,097 361,579 Gain on disposal of assets II, V 7,040 21,011 Gain on disposal of investments II 115,904 133,812 Gain on foreign exchange II 923,148 1,276,029 Gain on financial liabilities evaluated II, IV.11 56,408 14,321 Others V 2,851,809 1,647,987 Total 18,493,171 14,815,193 NON-OPERATING EXPENSES AND LOSSES Interest expense IV.11 508,178 35,697 Loss on disposal of assets II, V 144,675 10,915 Loss on physical inventory 46,205 31,767 Loss on impairment II, IV.6 37,500 - Loss on financial assets evaluated II, IV.2 1,635 492 Others V 396,989 174,047 Total 1,135,182 252,918 INCOME BEFORE INCOME TAX 33,390,946 23,938,963 INCOME TAX EXPENSE II, IV.19 (5,767,666) (4,726,531) INCOME FROM CONTINUING OPERATIONS 27,623,280 19,212,432 EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES III - 8,903 NET INCOME $27,623,280 $19,221,335 PRIMARY EARNINGS PER SHARE II, IV.20 INCOME FROM CONTINUING OPERATIONS $7.52 $5.28 EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES - 0.00 NET INCOME $7.52 $5.28 DILUTED EARNINGS PER SHARE INCOME FROM CONTINUING OPERATIONS $7.16 $5.08 EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES - 0.00 NET INCOME $7.16 $5.08 The accompanying notes are an integral part of the financial statements. 3 English Translations of Financial Statements Originally Issued in Chinese ASUSTEK COMPUTER INC. NON-CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006 (Expressed in New Taiwan Thousand Dollars) Retained Earnings Unrecognized Unrealized Additional Legal Special Unappropriated Translation Loss on Profit/(Loss) Capital Stock Paid-in Capital Reserve Reserve Earnings Adjustments Pension Cost of Financial Assets Total Balance, January 1, 2006 $29,245,209 $12,435,714 $10,852,599 $2,529,690 $49,583,210 $(614,571) $- $- $104,031,851 The retroactive adjustments under pooling method for acquisition 724,873 6,059,860 - - (1,372,295) (22,468) - (86,977) 5,302,993 Balance, January 1, 2006 (Restated) 29,970,082 18,495,574 10,852,599 2,529,690 48,210,915 (637,039) - (86,977) 109,334,844 Appropriations and distributions of 2005 earnings: Legal reserve 1,727,496 (1,727,496) - Reversal of special reserve (1,915,119) 1,915,119 - Employees bonus (620,740) (620,740) Transfer of employees bonus to capital 630,000 (630,000) - Bonus paid to directors and supervisors (125,074) (125,074) Transfer of stock dividends to capital 3,040,064 (3,040,064) - Cash dividends (3,040,064) (3,040,064) Translation adjustments 202,012 202,012 Effect of changes of the investee companies' equity 235,993 (3,016) (30,215) 202,762 The retroactive adjustments under pooling method for acquisition 11,756 148,104 159,860 Conversion of convertible bonds 418,800 2,851,082 3,269,882 Stock option for issuance of domestic convertible bonds 1,020,705 1,020,705 Unrealized profit/(loss) of financial assets 2,841,373 2,841,373 Net income for 2006 19,221,335 19,221,335 Balance, December 31, 2006 34,070,702 22,751,458 12,580,095 614,571 60,163,931 (435,027) (3,016) 2,724,181 132,466,895 Appropriations and distributions of 2006 earnings: Legal reserve 1,922,134 (1,922,134) - Reversal of special reserve (614,571) 614,571 - Employees bonus (688,712) (688,712) Transfer of employees bonus to capital 700,000 (700,000) - Bonus paid to directors and supervisors (138,871) (138,871) Transfer of stock dividends to capital 1,706,041 (1,706,041) - Cash dividends (5,118,124) (5,118,124) Issuance of shares in exchange of shares of investee 298,245 2,400,281 2,698,526 Translation adjustments 1,559,206 1,559,206 Effect of changes of the investee companies' equity 1,247,706 2,727 415,756 1,666,189 Conversion of convertible bonds 508,601 3,000,917 3,509,518 Unrealized profit/(loss) of financial assets (2,628,689) (2,628,689) Net income for 2007 27,623,280 27,623,280 Balance, December 31, 2007 $37,283,589 $29,400,362 $14,502,229 $- $78,127,900 $1,124,179 ($289) $511,248 $160,949,218 The accompanying notes are an integral part of the financial statements.
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