~1~ CTCI CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS’ REVIEW REPORT JUNE 30, 2020 AND 2019 ------------------------------------------------------------------------------------------------------------------------------------ For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.
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CTCI CORPORATION AND SUBSIDIARIES · 2020. 9. 4. · Other current liabilities ( 1,758,589) ( 4,488,308) CTCI CORPORATION AND SUBSIDIARIES . CTCI CORPORATION AND SUBSIDIARIES JUNE
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FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2020 AND 2019
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
(UNAUDITED)
For the six-month periods ended June 30
Notes 2020 2019
~8~
CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax $ 860,950 $ 983,491 Adjustments Adjustments to reconcile profit (loss) Loss (gain) on valuation of financial assets 6(27) 24,316 ( 56,214 ) Gain on reduction of capital of investments 6(27) - ( 5,158 ) (Gain) loss on disposal of property, plant and
equipment 6(27)
( 29,923 ) 1,353 Gain on lease modification 6(27) ( 370 ) - Share of (profit) loss of associates and joint ventures
accounted for using the equity method 6(7)
( 75,520 ) 208,525 Depreciation 6(29) 399,616 282,881 Amortization 6(29) 76,019 74,638 Expected credit loss 12(2) 21,963 255 Interest income 6(25) ( 71,893 ) ( 131,825 ) Dividend income 6(26) ( 94 ) ( 230 ) Interest expense 6(28) 153,225 124,575 Compensation costs for employee stock options 6(30) 99,470 141,783 Changes in operating assets and liabilities Changes in operating assets Financial assets at fair value through profit or loss ( 3,341,837 ) 166,790 Contract assets - current ( 695,842 ) 5,982,512 Notes receivable 47,411 ( 34,915 ) Accounts receivable ( 731,676 ) 4,377,315 Accounts receivable - related parties ( 154,458 ) 447,298 Other receivables 112,111 108,907 Inventories ( 14,162 ) ( 113,081 ) Prepayments ( 871,844 ) ( 1,037,672 ) Other current assets ( 1,316,299 ) 208,887 Other non-current assets 251,098 84,690 Changes in operating liabilities Contract liabilities - current 2,546,975 276,228 Notes payable ( 41,321 ) 3,441 Accounts payable ( 1,839,266 ) ( 327,196 ) Accounts payable - related parties ( 163,486 ) ( 567,492 ) Other payables ( 922,546 ) ( 931,800 ) Other current liabilities ( 1,758,589 ) ( 4,488,308 ) Other non-current liabilities ( 258,686 ) ( 363,273 ) Cash (outflow) inflow generated from operations ( 7,694,658 ) 5,416,405 Interest received 79,346 130,758 Dividends received 36,354 63,685 Income tax refund 22,958 - Interest paid ( 125,635 ) ( 126,758 ) Income tax paid ( 290,817 ) ( 386,692 ) Net cash flows (used in) from operating activities ( 7,972,452 ) 5,097,398
(Continued)
CTCI CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2020 AND 2019
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
(UNAUDITED)
For the six-month periods ended June 30
Notes 2020 2019
The accompanying notes are an integral part of these consolidated financial statements.
~9~
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposal of financial assets at fair value
through other comprehensive income - current
$ - $ 39,388
(Acquisition) disposal of financial assets at amortized cost ( 524,265 ) 297,428
Increase in other receivables - related parties ( 35,343 ) -
Increase in financial assets measured at cost - non-current ( 504,188 ) -
Proceeds from disposal of investments accounted for
using the equity method
- 224,494
Acquisition of property, plant and equipment 6(33) ( 833,053 ) ( 2,209,867 )
Proceeds from disposal of property, plant and equipment 67,548 2,569
Increase in prepayments for equipment ( 260,358 ) ( 380,744 )
Increase in intangible assets ( 17,374 ) ( 24,110 )
Increase in refundable deposits ( 165,757 ) ( 8,562 )
Increase in other non-current assets ( 38,678 ) ( 30,240 )
Net cash flows from acquisition of subsidiaries ( 30,019 ) ( 38,749 )
Net cash flows used in investing activities ( 2,341,487 ) ( 2,128,393 )
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in short-term borrowings ( 795,982 ) ( 3,018,217 )
(Decrease) increase in short-term notes and bills payable ( 181,928 ) 250,913
Increase in long-term borrowings 112,381 2,067,483
Decrease in lease liabilities ( 92,057 ) ( 105,999 )
Increase (decrease) in deposits received (recognized in
other non-current liabilities)
49,600 ( 71,267 )
Issuance of bonds payable 2,993,839 -
Proceeds from employee stock options exercised 2,484 1,678
Cash dividends paid 6(33) ( 74,537 ) ( 137,017 )
Increase in non-controlling interests 37,515 -
Net cash flows from (used in) financing activities 2,051,315 ( 1,012,426 )
Net (decrease) increase in cash and cash equivalents ( 8,262,624 ) 1,956,579
Cash and cash equivalents at beginning of period 20,767,581 15,070,992
Cash and cash equivalents at end of period $ 12,504,957 $ 17,027,571
~10~
CTCI CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2020 AND 2019
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS,
EXCEPT AS OTHERWISE INDICATED)
(UNAUDITED)
1. HISTORY AND ORGANISATION
CTCI Corporation (the “Company”) was incorporated as a company limited by shares under the
provisions of the Company Law of the Republic of China on April 6, 1979 and commenced its operations
on May 1, 1979. The main business activities of the Company and its subsidiaries (collectively referred
herein as the “Group”) are the design, survey, construction and inspection of various engineering and
construction projects, plants, machinery and equipment and environmental protection projects. The
Company’s shares have been listed and traded on the Taiwan Stock Exchange since May 1993.
2. THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL
STATEMENTS AND PROCEDURES FOR AUTHORIZATION
These consolidated financial statements were reported to the Board of Directors on August 5, 2020.
3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS
(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting
Standards (“IFRS”) as endorsed by the Financial Supervisory Commission (“FSC”)
New standards, interpretations and amendments endorsed by the FSC effective from 2020 are as
follows:
The above standards and interpretations have no significant impact to the Group’s financial condition
and financial performance based on the Group’s assessment.
New Standards, Interpretations and Amendments
Effective date by
International
Accounting
Standards Board
Amendments to IAS 1 and IAS 8, ‘Disclosure Initiative-Definition of
Material’
January 1, 2020
Amendments to IFRS 3, ‘Definition of a business’ January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7, ‘Interest rate benchmark
reform’ January 1, 2020
Amendment to IFRS 16, ‘Covid-19-related rent concessions’ June 1, 2020
~11~
(2) Effect of new issuances of or amendments to IFRSs as endorsed by the FSC but not yet adopted by
the Group
None.
(3) IFRSs issued by IASB but not yet endorsed by the FSC
New standards, interpretations and amendments issued by IASB but not yet included in the IFRSs as
endorsed by the FSC are as follows:
The above standards and interpretations have no significant impact to the Group’s financial condition
and financial performance based on the Group’s assessment.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The principal accounting policies adopted are consistent with Note 4 in the consolidated financial
statements for the year ended December 31, 2019, except for the compliance statement, basis of
preparation, basis of consolidation and additional policies as set out below. These policies have been
consistently applied to all the periods presented, unless otherwise stated.
(1) Compliance statement
A. The consolidated financial statements of the Group have been prepared in accordance with the
“Regulations Governing the Preparation of Financial Reports by Securities Issuers” and the
International Accounting Standard 34, ‘Interim financial reporting’ as endorsed by the FSC.
B. These consolidated financial statements are to be read in conjunction with the consolidated
financial statements for the year ended December 31, 2019.
New Standards, Interpretations and Amendments
Effective date by
International Accounting
Standards Board
Amendments to IFRS 4, ‘Extension of the temporary exemption from
applying IFRS 9’
January 1, 2021
Amendments to IFRS 3, ‘Reference to the conceptual framework’ January 1, 2022
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets
between an investor and its associate or joint venture’
To be determined by
International Accounting
Standards Board
IFRS 17, ‘Insurance contracts’ January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’ January 1, 2023
Amendments to IAS 1, ‘Classification of liabilities as current or
non-current’
January 1, 2023
Amendments to IAS 16, ‘Property, plant and equipment: proceeds
before intended use’
January 1, 2022
Amendments to IAS 37, ‘Onerous contracts-cost of fulfilling
a contract’
January 1, 2022
Annual improvements to IFRS Standards 2018-2020 January 1, 2022
~12~
(2) Basis of preparation
A. Except for the following items, the consolidated financial statements have been prepared under
the historical cost convention:
(a) Financial assets and financial liabilities (including derivative instruments) at fair value through
profit or loss.
(b) Financial assets at fair value through other comprehensive income.
(c) Defined benefit liabilities recognized based on the net amount of pension fund assets less
present value of defined benefit obligation.
B. The preparation of financial statements in conformity with International Financial Reporting
Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as
endorsed by the FSC (collectively referred herein as the “IFRSs”), requires the use of certain
critical accounting estimates. It also requires management to exercise its judgement in the process
of applying the Group’s accounting policies. The areas involving a higher degree of judgement or
complexity, or areas where assumptions and estimates are significant to the consolidated financial
statements are disclosed in Note 5.
(3) Basis of consolidation
A. Basis for preparation of consolidated financial statements:
The basis for preparation of these consolidated financial statements is the same as that for the
preparation of the consolidated financial statements as of and for the year ended December 31,
2019.
B. Subsidiaries included in the consolidated financial statements:
June 30,
2020
December 31,
2019
June 30,
2019
CTCI Corp. CTCI Advanced
Systems Inc.
Design and
installation of
software
48.72 48.72 48.72 Note 1
CTCI Corp. CTCI
Development
Corp.
Real estate and
leasing business
100.00 100.00 100.00 Note 2
CTCI Corp. CTCI Investment
Corp.
Investments 100.00 100.00 100.00 Note 2
CTCI Corp.
CTCI Investment
Corp.
CTCI Smart
Engineering
Corp.
Planning and design
of construction
projects
97.09 97.09 97.09 Note 2
CTCI Corp. - 99.05 99.05
CTCI
Development
Corp.
0.01 0.01 0.01
CTCI Advanced
Systems Inc.
99.05 - -
Name of InvestorName of
Subsidiary
Main Business
ActivitiesDescription
Note 5
CTCI Resources
Engineering Inc.
Engineering
technology service
Ownership (%)
~13~
June 30,
2020
December 31,
2019
June 30,
2019
CTCI Corp. CTCI Americas,
Inc.
Business
development and
related engineering
services and planning
100.00 100.00 100.00 Note 2
CTCI Corp. CTCI Singapore
Pte. Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Investment
Corp.
CTCI
Development
Corp.
ECOVE
Environment
Services Corp.
CTCI Smart
Engineering
Corp.
CTCI Resources
Engineering Inc.
CTCI Chemical
Corp.
Manufacturing of
chemical products
75.49 75.49 75.49 Note 2
CTCI Corp.
CTCI Investment
Corp.
CTCI
Development
Corp.
ECOVE
Environment
Corp.
Investments 57.72 57.72 57.72
ECOVE
Environment
Corp.
ECOVE Wujih
Energy Corp.
Environmental
engineering
100.00 100.00 100.00
ECOVE
Environment
Corp.
ECOVE Waste
Management
Corp.
Environmental
engineering
100.00 100.00 100.00
ECOVE
Environment
Corp.
ECOVE Waste
Management
Corp.
ECOVE
Environment
Services Corp.
Environmental
engineering
93.16 93.16 93.16
ECOVE
Environment
Corp.
ECOVE
Environment
Services Corp.
ECOVE Miaoli
Energy Corp.
Environmental
engineering
75.00 75.00 75.00
Ownership (%)Name of
Subsidiary
Main Business
ActivitiesName of Investor Description
~14~
June 30,
2020
December 31,
2019
June 30,
2019
ECOVE
Environment
Corp.
Yuan Ding
Resources
Management
Corp.
Environmental
engineering
100.00 100.00 100.00 Note 2
ECOVE
Environment
Services Corp.
ECOVE
Environment
Consulting Corp.
Environmental
engineering
100.00 100.00 100.00 Note 2
CTCI Corp.
ECOVE
Environment
Services Corp.
SINOGAL-
Waste Services
Co., Ltd.
Environmental
engineering
60.00 60.00 60.00 Note 2
CTCI Corp. CTCI Overseas
(BVI) Corp.
Investments 100.00 100.00 100.00 Note 2
CTCI Overseas
(BVI) Corp.
CTCI Overseas
Co., Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Overseas
Co., Ltd.
CTCI Beijing
Co., Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Overseas
Co., Ltd.
CIMAS
Engineering
Company
Planning and design
of construction
projects
100.00 83.00 83.00 Note 2, 3
CTCI Overseas
Co., Ltd.
Universal
Engineering
(BVI)
Corporation
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Overseas
Co., Ltd.
CIPEC
Construction
Company Inc.
Planning and design
of construction
projects
39.93 39.93 39.89 Note 1, 2
CTCI Overseas
Co., Ltd.
CINDA
Engineering &
Construction Pvt.
Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Corp.
CTCI Overseas
Co., Ltd.
CTCI Arabia
Ltd.
Design and
construction of
chemical factories
100.00 100.00 100.00 Note 2
CTCI Beijing
Co., Ltd.
CTCI Shanghai
Co., Ltd.
Consulting services
for construction
projects
100.00 100.00 100.00 Note 2
CTCI Shanghai
Co., Ltd.
CTCI Trading
Shanghai
Co., Ltd.
General trade 100.00 100.00 100.00 Note 2
CTCI Corp.
CTCI Overseas
Co., Ltd.
CTCI
Engineering
& Construction
Sdn. Bhd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
Ownership (%)
Name of InvestorName of
Subsidiary
Main Business
ActivitiesDescription
~15~
June 30,
2020
December 31,
2019
June 30,
2019
CTCI Overseas
Co., Ltd.
Sumber Mampu
Sdn. Bhd.
Investments 10.00 10.00 10.00 Note 1, 2
Sumber Mampu
Sdn. Bhd.
CTCI
Engineering &
Construction
Sdn. Bhd.
CTCI Malaysia
Sdn. Bhd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Corp.
Superiority
(Thailand) Co.,
Ltd.
CTCI (Thailand)
Co., Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Advanced
Systems Inc.
Century Ahead
Ltd.
Investments 100.00 100.00 100.00 Note 2
Century Ahead
Ltd.
CTCI Advanced
Systems
Shanghai Inc.
Computer skills
services
100.00 100.00 100.00 Note 2
Universal
Engineering
(BVI)
Corporation
Superiority
(Thailand) Co.,
Ltd.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Corp. CTCI Machinery
Corp.
Planning and design
of construction
projects
100.00 100.00 100.00 Note 2
CTCI Corp. CCJV P1
Engineering &
Construction
Sdn. Bhd.
Planning of
construction projects
99.00 99.00 99.00 Note 2
CTCI
Development
Corp.
Crown Asia-2
Investment
Limited
Investments 100.00 100.00 100.00 Note 2
CTCI Singapore
Pte. Ltd.
CTCI
Netherlands B.V.
Engineers and other
technical design and
consultancy
100.00 100.00 100.00 Note 2
CTCI Corp. CTCI-HDEC
(Chungli) Corp.
Waste water
treatment
sewerage system
51.00 51.00 51.00 Note 2
CTCI Corp. CTCI CMCE JV
Sdn. Bhd.
Planning and design
of construction
projects
51.00 51.00 51.00 Note 2
CTCI Corp. PT CTCI
International
Indonesia
Planning and design
of construction
projects
67.00 - - Note 2, 6
Ownership (%)
Name of InvestorName of
Subsidiary
Main Business
ActivitiesDescription
~16~
Note 1: Being the Company’s controlled entities, these subsidiaries that were under 50% owned
by the Company directly or indirectly were included in the consolidated financial
statements.
Note 2: The financial statements of the entity as of and for the six-month periods ended June 30,
2020 and 2019 were not reviewed by independent auditors as the entity did not meet the
definition of significant subsidiary.
Note 3: The equity interest of 33% and 17% was acquired by cash in March 2019 and February
2020, respectively.
Note 4: On October 18, 2019, the subsidiary, ECOVE Central Corp. Ltd., was dissolved after the
merger with the subsidiary, ECOVE Solar Energy Corp.
Note 5: CTCI Corp. sold its 99.05% equity interest in CTCI Resources Engineering Inc. to CTCI
Advanced Systems Inc. in line with the Group’s reorganization in January 2020.
Note 6: The Company jointly established PT CTCI International Indonesia with PT Eptco Dian
Persada and obtained 67% equity interest in January 2020.
Note 7: The financial statements of the entity as of and for the six-month periods ended June 30,
2019 were not reviewed by independent auditors as the entity did not meet the definition
of significant subsidiary.
June 30,
2020
December 31,
2019
June 30,
2019
ECOVE
Environment
Corp.
ECOVE
Environment
Services Corp.
ECOVE Solvent
Recycling Corp.
Environmental
engineering
90.00 90.00 90.00 Note 2
ECOVE
Environment
Corp.
ECOVE Solar
Energy Corp.
Electric Power
Supply
100.00 100.00 100.00
ECOVE Solar
Energy Corp.
ECOVE Solar
Power Corp.
Electric Power
Supply
100.00 100.00 100.00 Note 7
ECOVE Solar
Energy Corp.
ECOVE Central
Corp. Ltd.
Electric Power
Supply
- - 100.00 Note 4, 7
ECOVE Solar
Energy Corp.
ECOVE South
Corp. Ltd.
Electric Power
Supply
100.00 100.00 100.00 Note 2
ECOVE Solar
Energy Corp.
G.D
International,
LLC.
Electric Power
Supply
100.00 100.00 100.00 Note 2
G.D
International,
LLC.
Lumberton Solar
W2-090, LLC.
Electric Power
Supply
100.00 100.00 100.00 Note 7
Ownership (%)
Name of InvestorName of
Subsidiary
Main Business
ActivitiesDescription
~17~
C. Subsidiaries not included in the consolidated financial statements: None.
D. Adjustments for subsidiaries with different balance sheet date: None.
E. Significant restrictions: None.
F. Subsidiaries that have non-controlling interests that are material to the Group:
As of June 30, 2020, December 31, 2019 and June 30, 2019, the non-controlling interest amounted
to $2,705,865, $3,190,554 and $2,906,067, respectively. The information on non-controlling
interest and respective subsidiaries is as follows:
Summarized financial information of the subsidiary:
A. Amount of borrowing costs capitalized as part of property, plant and equipment and the range of the interest rates for such capitaliztion are as follows:
B. Please refer to Note 8 for the details of pledged property, plant and equipment.
2020 2019
Amount capitalized 2,464$ 1,625$
Range of the interest rates for capitalization 1.10%~2.04% 1.09%~1.40%
For the six-month periods ended
June 30,
~30~
(9) Leasing arrangements - lessee
A. The Group leases various assets including land, buildings, business vehicles, multifunction
printers, etc. Rental contracts are typically made for periods of 1 to 28 years. Lease terms are
negotiated on an individual basis and contain a wide range of different terms and conditions. The
lease agreements do not impose covenants, but leased assets may not be used as security for
borrowing purposes.
B. The carrying amount of right-of-use assets and the depreciation charge are as follows:
C. For the three-month and six-month periods ended June 30, 2020 and 2019, the additions to right-
of-use assets were $52,461, $47,788, $70,856 and $48,899, respectively.
Yes 1,830,367 1,794,430 1,215,467 1.352%~1.961% 2 - For
operational
need
- None - 3,044,050 6,088,101 -
0 CTCI Corp. CTCI Smart
Engineering Corp.
Other
receivables
Yes 500,000 500,000 500,000 0.93%~1.01% 2 - For
operational
need
- None - 3,044,050 6,088,101 -
0 CTCI Corp. CTCI (Thailand)
Co., Ltd.
Other
receivables
Yes 1,000,000 1,000,000 912,475 1.25%~1.5% 2 - For
operational
need
- None - 3,044,050 6,088,101 -
1 CTCI Overseas
Co., Ltd.
Superiority
(Thailand) Co., Ltd.
Other
receivables
Yes 71,853 - - - 2 - For
operational
need
- None - 736,396 736,396 -
1 CTCI Overseas
Co., Ltd.
CCJV P1 Engineering &
Construction
Sdn. Bhd.
Other
receivables
Yes 432,218 - - - 2 - For
operational
need
- None - 736,396 736,396 -
1 CTCI Overseas
Co., Ltd.
CIPEC
Construction Inc.
Other
receivables
Yes 20,988 - - - 2 - For
operational
need
- None - 736,396 736,396 -
1 CTCI Overseas
Co., Ltd.
CTCI
Americas Inc.
Other
receivables
Yes 124,353 - - - 2 - For
operational
need
- None - 736,396 736,396 -
2 ECOVE
Environment Corp.
ECOVE
Solar Energy Corp.
Other
receivables
Yes 200,000 200,000 200,000 1.01% 2 - For
operational
need
- None - 465,745 1,862,982 -
3 ECOVE
Environment
Services Corp.
ECOVE Solvent
Recycling Corp.
Other
receivables
Yes 36,000 30,000 - - 2 - For
operational
need
- None - 65,766 263,064 -
Allowance
for
doubtful
accounts
Collateral
Limit on loans
granted to
a single party
(Note 7)
Ceiling on
total loans granted
(Note 7) Footnote
Reason
for short-term
financing
(Note 6)
No.
(Note 1) Creditor Borrower
General
ledger
account
(Note 2)
Is a
related
party
Maximum
outstanding
balance during
the six-month
period ended
June 30, 2020
(Note 3)
Balance at
June 30, 2020
(Note 8)
Actual amount
drawn down
Interest
rate
Nature of
loan
(Note 4)
Amount of
transactions
with the
borrower
(Note 5)
CTCI Corporation and its subsidiaries
Loans to others
For the six-month period ended June 30, 2020
Table 1 Expressed in thousands of NTD
(Except as otherwise indicated)
Table 1 Page 1
Item Value
Allowance
for
doubtful
accounts
Collateral
Limit on loans
granted to
a single party
(Note 7)
Ceiling on
total loans granted
(Note 7) Footnote
Reason
for short-term
financing
(Note 6)
No.
(Note 1) Creditor Borrower
General
ledger
account
(Note 2)
Is a
related
party
Maximum
outstanding
balance during
the six-month
period ended
June 30, 2020
(Note 3)
Balance at
June 30, 2020
(Note 8)
Actual amount
drawn down
Interest
rate
Nature of
loan
(Note 4)
Amount of
transactions
with the
borrower
(Note 5)
3 ECOVE
Environment
Services Corp.
CTCI Smart
Engineering Corp.
Other
receivables
Yes 30,000$ 30,000$ -$ - 2 - For
operational
need
-$ None -$ 65,766$ 263,064$ -
3 ECOVE
Environment
Services Corp.
CTCI Machinery Corp. Other
receivables
Yes 30,000 30,000 30,000 1.01% 2 - For
operational
need
- None - 65,766 263,064 -
3 ECOVE
Environment
Services Corp.
CTCI Corp. Other
receivables
Yes 30,000 - - - 2 - For
operational
need
- None - 65,766 263,064 -
4 ECOVE
Solar Energy Corp.
ECOVE
Solar Power Corp.
Other
receivables
Yes 90,000 90,000 - - 2 - For
operational
need
- None - 409,355 409,355 -
4 ECOVE
Solar Energy Corp.
ECOVE
South Corp. Ltd.
Other
receivables
Yes 94,000 94,000 18,000 1.48% 2 - For
operational
need
- None - 409,355 409,355 -
5 ECOVE Waste
Management Corp.
CTCI Machinery Corp. Other
receivables
Yes 5,000 - - - 2 - For
operational
need
- None - 7,966 31,866 -
5 ECOVE Waste
Management Corp.
CTCI Smart
Engineering Corp.
Other
receivables
Yes 5,000 - - - 2 - For
operational
need
- None - 7,966 31,866 -
6 CTCI Investment
Corp.
CIPEC
Construction Inc.
Other
receivables
Yes 21,480 21,059 20,945 0.841%~0.889% 2 - For
operational
need
- None - 90,484 361,936 -
6 CTCI Investment
Corp.
Superiority
(Thailand) Co., Ltd.
Other
receivables
Yes 70,261 70,261 70,261 1.25% 2 - For
operational
need
- None - 90,484 361,936 -
6 CTCI Investment
Corp.
CTCI
Advanced
System Inc.
Other
receivables
Yes 100,000 90,000 90,000 0.91% 2 - For
operational
need
- None - 90,484 361,936 -
7 PT CTCI International
Indonesia
Pt Eptco
Dian Persada
Other
receivables
Yes 37,026 35,343 35,343 6.00% 2 - For
operational
need
- Guaranteed
by equity
interest
35,343 42,840 42,840 -
8 CTCI Advanced
System Inc.
CTCI Corp. Other
receivables
Yes 45,000 - - - 2 - For
operational
need
- None - 20,798 83,190 -
9 CTCI Resources
Engineering
Inc.
CTCI
Advanced
System Inc.
Other
receivables
Yes 25,000 25,000 - - 2 - For
operational
need
- None - 36,506 146,203 -
Table 1 Page 2
Note 1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:
(1)The Company is ‘0’.
(2)The subsidiaries are numbered in order starting from ‘1’.
Note 2: Fill in the name of account in which the loans are recognized, such as receivables-related parties, current account with stockholders, prepayments, temporary payments, etc.
Note 3: Fill in the maximum outstanding balance of loans to others during the six-month period ended June 30, 2020.
Note 4: The numbers filled in for the nature of loans are as follows:
(1) Business association is labeled as ‘1’.
(2) Short-term financing is labeled as ‘2’.
Note 5: Fill in the amount of business transactions when nature of the loan is related to business transactions, which is the amount of business transactions occurred between the creditor and borrower in the current year.
Note 6: Fill in purpose of loan when nature of loan belongs to short-term financing, for example, repayment of loan, acquisition of equipment, working capital, etc.
Note 7: The calculation and amount on ceiling of loans are as follows:
[The company]
(1) The limit on loans granted to a single party shall not exceed 20% of the Company's net assets value.
(2) The ceiling on total loans shall not exceed 40% of the Company's net assets value.
[Domestic subsidiaries and overseas subsidiaries]
(1) The limit on loans granted to a single party by domestic subsidiaries and overseas subsidiaries shall not exceed 10% and 40% of the Company's net assets value, respectively.
(2) The ceiling on total loans shall not exceed 40% of the Company's net assets value.
Note 8: The amounts of funds to be loaned to others which have been approved by the board of directors of a public company in accordance with Article 14, Item 1 of the “Regulations Govering Loaning of Funds and Making
of Endorsements/Guarantees by public Companies” should be included in its published balance of loans to others at the end of the reporting period to reveal the risk of loaning the public company bears, even though they
have not yet been appropriated. However, this balance should excluded the loans repaid when repayments are done subsequently to reflect the risk adjustment. In addition, if the board of directors of a public company has
authorised the chairman to loan funds in instalments or in revolving within certain lines and within one year in accordance with Article 14, Item 2 of the “Regulations Governing Loaning of Funds and Making of Endorsements/
Guarantees by Public Companies”, the published balance of loans to others at the end of the reporting period should also include these lines of loaning approved by the board of directors, and these lines of loaning should not be
excluded from this balance even though the loans are repaid subsequently, for taking into consideration they could be loaned again thereafter.
Table 1 Page 3
Company name
Relationship with
the endorser/
guarantor
(Note 2)
0 CTCI Corp. Universal Engineering
(BVI) Corporation
2 45,660,756$ 30,330$ 29,660$ -$ -$ 0.19% 91,321,512$ Y N N -
0 CTCI Corp. CTCI Americas, Inc. 2 45,660,756 1,384,050 1,353,475 304,408 - 8.89% 91,321,512 Y N N -
0 CTCI Corp. CTCI Engineering &
Construction Sdn. Bhd.
2 45,660,756 2,042,448 2,016,880 1,298,381 - 13.25% 91,321,512 Y N N -
0 CTCI Corp. CINDA Engineering &
Construction Pvt. Ltd.
2 45,660,756 3,432,561 3,432,561 1,792,017 - 22.55% 91,321,512 Y N N -
0 CTCI Corp. CTCI Arabia Ltd. 2 45,660,756 3,503,115 3,425,730 3,456,755 - 22.51% 91,321,512 Y N N -
0 CTCI Corp. CTCI Singapore Pte. Ltd. 2 45,660,756 3,546,195 3,395,639 1,191,830 - 22.31% 91,321,512 Y N N -
0 CTCI Corp. CTCI Overseas
Co., Ltd.
2 45,660,756 4,330,371 4,236,405 1,350,924 - 27.83% 91,321,512 Y N N -
0 CTCI Corp. CTCI Machinery Corp. 2 45,660,756 13,059,202 12,221,058 11,873,888 - 80.29% 91,321,512 Y N N -
0 CTCI Corp. CTCI Trading Shanghai
Co., Ltd.
2 45,660,756 84,924 83,048 - - 0.55% 91,321,512 Y N Y -
0 CTCI Corp. CTCI Shanghai
Co., Ltd.
2 45,660,756 994,035 964,124 38,989 - 6.33% 91,321,512 Y N Y -
0 CTCI Corp. CTCI Beijing
Co., Ltd.
2 45,660,756 1,329,601 1,291,778 510,731 - 8.49% 91,321,512 Y N Y -
0 CTCI Corp. CCJV P1
Engineering &
Construction Sdn. Bhd.
2 45,660,756 894,735 163,130 - - 1.07% 91,321,512 Y N N -
0 CTCI Corp. CTCI Smart Engineering
Corp.
2 45,660,756 1,657,806 1,657,806 442,721 - 10.89% 91,321,512 Y N N -
0 CTCI Corp. CTCI (Thailand)
Co., Ltd.
2 45,660,756 2,953,343 2,903,871 754,275 - 19.08% 91,321,512 Y N N -
0 CTCI Corp. CTCI Chemical Corp. 2 45,660,756 19,335 18,908 12,296 - 0.12% 91,321,512 Y N N -
0 CTCI Corp. CTCI-HDEC (Chungli)
Corp.
6 45,660,756 102,000 102,000 102,000 - 0.67% 91,321,512 Y N N -
0 CTCI Corp. CB&I-CTCI B.V. 6 45,660,756 6,426,891 2,532,720 2,532,720 - 16.64% 91,321,512 N N N -
Amount of
endorsements/
guarantees
secured with
collateral
Ratio of
accumulated
endorsement/
guarantee amount
to net asset value
of the endorser/
guarantor company
Ceiling on
total amount of
endorsements/
guarantees
provided
(Note 3)
Provision of
endorsements/
guarantees by
parent
company to
subsidiary
(Note 7)
Provision of
endorsements/
guarantees by
subsidiary to
parent
company
(Note 7)
Outstanding
endorsement/
guarantees
amount at
June 30, 2020
(Note 5)
CTCI Corporation and its subsidiaries
Provision of endorsements and guarantees to others
For the six-month period ended June 30, 2020
Table 2 Expressed in thousands of NTD
(Except as otherwise indicated)
Number
(Note 1)
Endorser/
guarantor
Party being
endorsed/guaranteed
Limit on
endorsements/
guarantees
provided for
a single party
(Note 3)
Maximum
outstanding
endorsement/
guarantee
amount as of
June 30, 2020
(Note 4)
Provision of
endorsements/
guarantees to
the party in
Mainland
China
(Note 7) Footnote
Actual amount
drawn down
(Note 6)
Table 2 Page 1
Company name
Relationship with
the endorser/
guarantor
(Note 2)
Amount of
endorsements/
guarantees
secured with
collateral
Ratio of
accumulated
endorsement/
guarantee amount
to net asset value
of the endorser/
guarantor company
Ceiling on
total amount of
endorsements/
guarantees
provided
(Note 3)
Provision of
endorsements/
guarantees by
parent
company to
subsidiary
(Note 7)
Provision of
endorsements/
guarantees by
subsidiary to
parent
company
(Note 7)
Outstanding
endorsement/
guarantees
amount at
June 30, 2020
(Note 5)
Number
(Note 1)
Endorser/
guarantor
Party being
endorsed/guaranteed
Limit on
endorsements/
guarantees
provided for
a single party
(Note 3)
Maximum
outstanding
endorsement/
guarantee
amount as of
June 30, 2020
(Note 4)
Provision of
endorsements/
guarantees to
the party in
Mainland
China
(Note 7) Footnote
Actual amount
drawn down
(Note 6)
0 CTCI Corp. Blue Whale Water
Technology Co., Ltd.
6 45,660,756$ 769,300$ 769,300$ 599,760$ -$ 5.05% 91,321,512$ N N N -
0 CTCI Corp. HDEC-CTCI (Linhai)
Corp.
6 45,660,756 1,215,000 1,215,000 522,000 - 7.98% 91,321,512 N N N -
0 CTCI Corp. CIPEC Construction Inc. 2 45,660,756 549,404 547,451 86,451 - 3.60% 91,321,512 Y N N -
0 CTCI Corp. EVER ECOVE Corp. 6 45,660,756 1,102,500 1,102,500 261,708 - 7.24% 91,321,512 N N N -
0 CTCI Corp. CTCI Malaysia Sdn. Bhd. 2 45,660,756 1,000,890 711,840 16,622 - 4.68% 91,321,512 Y N N -
1 CTCI Advanced
System Inc.
Century Ahead Ltd. 2 207,975 18,198 17,796 - - 7.63% 415,950 N N N -
2 CTCI Chemical
Corp.
CTCI Machinery Corp. 5 731,808 532,830 532,830 532,830 - 218.43% 1,463,617 N N N -
3 CTCI Resources
Engineering
Inc.
CTCI Smart Engineering
Corp.
5 1,095,174 267,102 267,102 267,102 - 65.07% 2,190,348 N N N -
4 ECOVE
Environment Corp.
ECOVE South
Corp. Ltd.
2 9,314,908 150,000 150,000 66,700 - 2.89% 13,972,362 N N N -
4 ECOVE
Environment Corp.
ECOVE Solar Power
Corp.
2 9,314,908 417,000 417,000 286,686 - 8.04% 13,972,362 N N N -
4 ECOVE
Environment Corp.
ECOVE Solar Energy
Corp.
2 9,314,908 2,108,706 2,070,725 1,194,261 - 39.94% 13,972,362 N N N -
4 ECOVE
Environment Corp.
ECOVE Solvent
Recycling Corp.
2 9,314,908 213,400 157,600 115,858 - 3.04% 13,972,362 N N N -
4 ECOVE
Environment Corp.
EVER ECOVE Corp. 6 9,314,908 220,500 220,500 52,342 - 4.25% 13,972,362 N N N -
5 ECOVE Solar Energy
Corp.
ECOVE South
Corp. Ltd.
2 4,093,551 14,000 14,000 11,900 - 1.32% 6,140,326 N N N -
5 ECOVE Solar Energy
Corp.
ECOVE Solar Power
Corp.
2 4,093,551 757,076 757,076 468,584 - 71.17% 6,140,326 N N N -
6 ECOVE Solar Power
Corp.
ECOVE Solar Energy
Corp.
3 1,060,185 12,420 12,420 12,420 - 4.54% 1,590,277 N N N -
Table 2 Page 2
Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:
(1) The Company is ‘0’.
(2) The subsidiaries are numbered in order starting from ‘1’.
Note 2: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following seven categories; fill in the number of category each case belongs to:
(1) Having business relationship.
(2) The endorser/guarantor company owns directly or indirectly more than 50% voting shares of the endorsed/guaranteed company.
(3) The endorsed/guaranteed company owns directly or indirectly more than 50% voting shares of the endorser/guarantor company.
(4) The endorsed/guaranteed parent company directly or indirectly owns more than 90% voting shares of the endorser/guarantor subsidiary.
(5) Mutual guarantee of the trade as required by the construction contract.
(6) Due to joint venture, each shareholder provides endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.
(7) The performance guarantees for the sale of pre-sales contracts under the Consumer Protection Law are jointly guaranteed.
Note 3: Fill in limit on endorsements/guarantees provided for a single party and ceiling on total amount of endorsements/guarantees provided as prescribed in the endorser/guarantor company’s
“Procedures for Provision of Endorsements and Guarantees”, and state each individual party to which the endorsements/guarantees have been provided and the calculation for ceiling on total amount
of endorsements/guarantees provided in the footnote.
[The company]
(1) The limit on endorsements and guarantees granted to a single party shall not exceed 300% of the Company’s net assets value in last financial statements which was reviewed by accountant.
(2) The ceiling on total endorsements and guarantees shall not exceed 600% of the Company’s net assets value in last financial statements which was reviewed by accountant.
[Domestic subsidiaries and overseas subsidiaries]
(1) The limit on endorsements and guarantees granted to a single party shall not exceed 100% to 400% of the Company's net assets value in last financial statements which was reviewed by accountant.
(2) The ceiling on total endorsements and guarantees shall not exceed 200% to 600% of the Company's net assets value in last financial statements which was reviewed by accountant.
Note 4: Fill in the year-to-date maximum outstanding balance of endorsements/guarantees provided.
Note 5: Once endorsement/guarantee contracts or promissory notes are signed/issued by the endorser/guarantor company to the banks, the endorser/guarantor company bears endorsement/guarantee liabilities. And all other
events involve endorsements and guarantees should be included in the balance of outstanding endorsements and guarantees.
Note 6: Fill in the actual amount of endorsements/guarantees used by the endorsed/guaranteed company.
Note 7: Fill in ‘Y’ for those cases of provision of endorsements/guarantees by listed parent company to subsidiary and provision by subsidiary to listed parent company, and provision to the party in Mainland China.
Table 2 Page 3
Type Name
Number of shares/
denominations
Book value
(Note 3)
Ownership
(%) Market value
CTCI Corp. Fund Fubon US Preferred Stock ETF - Financial assets at fair value through
profit or loss-current
140,000 2,800$ - 2,292$ -
CTCI Corp. Fund FSITC Taiwan Money Market - Financial assets at fair value through
profit or loss-current
12,989,248 200,000 - 200,072 -
CTCI Corp. Fund Taishin 1699 Money Market Fund - Financial assets at fair value through
profit or loss-current
110,206,553 1,500,126 - 1,500,925 -
CTCI Corp. Fund Capital Money Market Fund - Financial assets at fair value through
profit or loss-current
12,942,975 210,085 - 210,149 -
CTCI Corp. Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
3,353,903 50,000 - 50,031 -
1,963,011 1,963,469$
Adjustment 458
1,963,469$
CTCI Corp. Common Stock China Steel Chemical Corp. - Financial asset at fair value through
other comprehensive income-current
1,691,916 93,982$ - 177,652$ -
CTCI Corp. Common Stock Taiwan Cement Corp. - Financial asset at fair value through
other comprehensive income-current
2,118,815 68,448 - 90,367 -
162,430 268,019$
Adjustment 105,589
268,019$
CTCI Corp. Common Stock Core Pacific City Co., Ltd. - Financial assets at fair value through
other comprehensive income-non-
current
22,428,000 360,000$ 2.26 171,986$ -
CTCI Corp. Common Stock CDIB & Partners Investment
Holding Corp.
The Company is the
supervisor
Financial assets at fair value through
other comprehensive income-non-
current
27,000,000 250,000 2.48 250,000 -
CTCI Corporation and its subsidiaries
Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures)
For the six-month period ended June 30, 2020
Footnote
(Note 4)Securities held by
Relationship with the
securities issuer
(Note 2)
General
ledger account
Table 3
Marketable Securities (Note 1) As of June 30, 2020
Expressed in thousands of NTD
(Except as otherwise indicated)
Table 3 Page 1
Type Name
Number of shares/
denominations
Book value
(Note 3)
Ownership
(%) Market value
Footnote
(Note 4)Securities held by
Relationship with the
securities issuer
(Note 2)
General
ledger account
Marketable Securities (Note 1) As of June 30, 2020
CTCI Corp. Common Stock Metro-consultant Co., Ltd. The Company is the
Board of director
Financial assets at fair value through
other comprehensive income-non-
current
300,000 3,000$ 6.00 3,000$ -
CTCI Corp. Common Stock Ever Victory Global Limited. - Financial assets at fair value through
other comprehensive income-non-
current
29,805,000 912,314 5.17 912,314 -
CTCI Corp. Common Stock Heng Keng Corp. - Financial assets at fair value through
other comprehensive income-non-
current
20,000 3,000 5.12 - -
1,528,314 1,337,300$
Adjustment 191,014)(
1,337,300$
CTCI Investment Corp. Fund Franklin Templeton Sinoam Money Market Fund - Financial assets at fair value through
profit or loss-current
769,016 8,003$ - 8,003$ -
CTCI Investment Corp. Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
726,367 10,836 - 10,836 -
CTCI Investment Corp. Common Stock CTCI Corp. The Company Financial assets at fair value through
other comprehensive income-non-
current
344,436 13,640 0.05 13,640 -
CTCI Investment Corp. Common Stock Global Strategic Investment Inc. - Financial assets at fair value through
other comprehensive income-non-
current
283,500 963 0.65 963 -
CTCI Investment Corp. Common Stock Powtec ElectroChemical Corp. - Financial assets at fair value through
other comprehensive income-non-
current
211,291,688 - 16.03 - -
CTCI Development Corp. Common Stock CTCI Corp. The Company Financial assets at fair value through
other comprehensive income-non-
current
912,170 36,122 0.12 36,122 -
CTCI Development Corp. Common Stock CTCI Advanced System Inc. Subsidiary Financial assets at fair value through
other comprehensive income-non-
current
324,417 20,211 1.38 20,211 -
CTCI Development Corp. Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
707,447 10,553 - 10,553 -
CTCI Resources
Engineering Inc.
Common Stock Global Strategic Investment Inc. - Financial assets at fair value through
other comprehensive income-non-
current
567,000 1,924 1.29 1,924 -
CTCI (Thailand)
Co., Ltd.
Common Stock CHIYODA (Thailand) Co. Ltd. - Financial assets at fair value through
other comprehensive income-non-
current
3,600 345 9.00 345 -
Crown Asia-2
Investment Limited
Common Stock CTCI Corp. The Company Financial assets at fair value through
other comprehensive income-non-
current
500 20 - 20 -
CTCI Advanced
System Inc.
Common Stock Taiwan Cement Corp. - Financial assets at fair value through
other comprehensive income-current
972,277 41,468 - 41,468 -
ECOVE
Environment Corp.
Common Stock Taiwan Cement Corp. - Financial assets at fair value through
other comprehensive income-current
505,902 21,577 - 21,577 -
ECOVE
Environment Corp.
Common Stock TeamWIN Opto-Electronics
Co., Ltd.
- Financial assets at fair value through
other comprehensive income-non-
current
150,000 475 2.46 475 -
Table 3 Page 2
Type Name
Number of shares/
denominations
Book value
(Note 3)
Ownership
(%) Market value
Footnote
(Note 4)Securities held by
Relationship with the
securities issuer
(Note 2)
General
ledger account
Marketable Securities (Note 1) As of June 30, 2020
ECOVE
Environment Corp.
Common Stock Eastern Pacific Energy Sdn. Bhd. - Financial assets at fair value through
other comprehensive income-non-
current
10,000 68$ 10.00 68$ -
ECOVE
Environment Corp.
Fund Prudential Financial Money Market Fund - Financial assets at fair value through
profit or loss-current
5,535,149 88,135 - 88,135 -
ECOVE
Environment Corp.
Fund FSITC Taiwan Money Market - Financial assets at fair value through
profit or loss-current
12,997,248 200,195 - 200,195 -
ECOVE
Environmental Services
Corp.
Common Stock Taiwan Cement Corp. - Financial assets at fair value through
other comprehensive income-current
1,339,745 57,140 - 57,140 -
ECOVE
Environmental Services
Corp.
Common Stock CTCI Corp. The Company Financial assets at fair value through
other comprehensive income-current
1,028 41 - 41 -
ECOVE
Environmental Services
Corp.
Fund Taishin 1699 Money Market Fund - Financial assets at fair value through
profit or loss-current
18,375,694 250,262 - 250,262 -
ECOVE
Environmental Services
Corp.
Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
17,451,304 260,326 - 260,326 -
ECOVE Wujih
Energy Corp.
Common Stock Taiwan Cement Corp. - Financial assets at fair value through
other comprehensive income-current
508,845 21,702 - 21,702 -
ECOVE Wujih
Energy Corp.
Fund FSITC Taiwan Money Market - Financial assets at fair value through
profit or loss-current
15,142,341 233,236 - 233,236 -
ECOVE Wujih
Energy Corp.
Fund Taishin 1699 Money Market Fund - Financial assets at fair value through
profit or loss-current
12,276,364 167,194 - 167,194 -
ECOVE Waste
Management Corp.
Common Stock Taiwan Cement Corp. - Financial asset at fair value through
other comprehensive income-current
512,411 21,854 - 21,854 -
ECOVE Waste
Management Corp.
Fund FSITC Taiwan Money Market - Financial assets at fair value through
profit or loss-current
5,779,230 89,017 - 89,017 -
ECOVE Waste
Management Corp.
Fund Taishin 1699 Money Market Fund - Financial assets at fair value through
profit or loss-current
1,468,957 20,006 - 20,006 -
ECOVE Waste
Management Corp.
Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
7,249,583 108,144 - 108,144 -
ECOVE Waste
Management Corp.
Fund Franklin Templeton Sinoam Money Market Fund - Financial assets at fair value through
profit or loss-current
3,740,998 38,930 - 38,930 -
ECOVE Miaoli Energy
Corporation
Fund FSITC Taiwan Money Market - Financial assets at fair value through
profit or loss-current
4,937,030 76,045 - 76,045 -
ECOVE Miaoli Energy
Corporation
Fund Taishin 1699 Money Market Fund - Financial assets at fair value through
profit or loss-current
8,786,141 119,660 - 119,660 -
ECOVE Miaoli Energy
Corporation
Fund Franklin Templeton Sinoam Money Market Fund - Financial assets at fair value through
profit or loss-current
288,525 3,002 - 3,002 -
Yuan Ding Resources
Management Corp.
Fund Jih Sun Money Market Fund - Financial assets at fair value through
profit or loss-current
2,524,271 37,655 - 37,655 -
Note 1: Marketable securities in the table refer to stocks, bonds, beneficiary certificates and other related derivative securities in accordance with IFRS 9, ‘Financial instruments’.
Note 2: Leave the column blank if the issuer of marketable securities is non-related party.
Note 3: Fill in the amount after adjusted at fair value and deducted by accumulated impairment for the marketable securities measured at fair value; fill in the acquisition cost or amortized cost deducted by accumulated impairment for the marketable securities not measured at fair value.
Note 4: The number of shares of securities and their amounts pledged as security or pledged for loans and their restrictions on use under some agreements should be stated in the footnote if the securities presented herein have such conditions.
Note 1: Marketable securities in the table refer to stocks, bonds, beneficiary certificates and other related derivative securities.
Note 2: Fill in the columns the counterparty and relationship if securities are accounted for under the equity method; otherwise leave the columns blank.
Note 3: Aggregate purchases and sales amounts should be calculated separately at their market values to verify whether they individually reach NT$300 million or 20% of paid-in capital or more.
CTCI Corporation and its subsidiaries
Acquisition or sale of the same security with the accumulated cost exceeding $300 million or 20% of the Company's paid-in capital
For the six-month period ended June 30, 2020
Table 4 Expressed in thousands of NTD
(Except as otherwise indicated)
Addition
(Note 3)
Balance as at
June 30, 2020
Investor
Marketable
securities
(Note 1)
General
ledger account
Counterparty
(Note 2)
Relationship with
the investor
(Note 2)
Balance as at
January 1, 2020
Disposal
(Note 3)
Table 4 Page 1
Purchases (sales) Amount
Percentage of total
purchases (sales) Credit term Unit price Credit term Balance
Percentage of
total notes/accounts
receivable (payable)
ECOVE Wujih
Energy Corp.
ECOVE Waste
Management Corp.
Second-tier subsidiary (Sales) 222,855)($ 0.90% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
87,568$ 1.43% -
ECOVE Environmental
Services Corp.
ECOVE Waste
Management Corp.
Second-tier subsidiary (Sales) 324,936)( 1.32% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
110,982 1.81% -
CTCI Corp. CTCI Overseas
Co., Ltd.
Subsidiary (Sales) 115,774)( 0.47% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
8,305 0.14% -
CTCI Corp. EVER ECOVE Corp. Associate (Sales) 632,640)( 2.56% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
190,419 3.10% -
CTCI Corp. HDEC-CTCI (Linhai)
Corp.
Associate (Sales) 278,903)( 1.13% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
321 0.01% -
CTCI Machinery Corp. CTCI Corp. The Company (Sales) 259,411)( 1.05% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
40,280 0.39% -
CTCI Advanced
System Inc.
CTCI Corp. The Company (Sales) 101,201)( 0.41% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
62,793 0.61% -
CTCI Resources
Engineering Inc.
CTCI Development Corp. Subsidiary (Sales) 190,803)( 0.77% )( 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
80,638 0.78% -
ECOVE Waste
Management Corp.
ECOVE Wujih
Energy Corp.
Second-tier subsidiary Purchases 222,855 0.98% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
87,568)( 0.85% )( -
ECOVE Waste
Management Corp.
ECOVE Environmental
Services Corp.
Second-tier subsidiary Purchases 324,936 1.42% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
110,982)( 1.07% )( -
CTCI Overseas Co., Ltd. CTCI Corp. The Company Purchases 115,774 0.51% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
8,305)( 0.08% )( -
CTCI Corp. CTCI Machinery Corp. Subsidiary Purchases 259,411 1.14% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
40,280)( 0.39% )( -
CTCI Corp. CTCI Advanced
System Inc.
The Company Purchases 101,201 0.44% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
62,793)( 0.61% )( -
CTCI Development Corp. CTCI Resources
Engineering Inc.
Subsidiary Purchases 190,803 0.84% 30 days after
seasonal billings
Negotiated by both
parties
No significant
difference
80,638)( 0.78% )( -
CTCI Corporation and its subsidiaries
Purchases or sales of goods from or to related parties reaching NT$100 million or 20% of paid-in capital or more
4 CTCI Advanced System Inc. CTCI Corp. 2 Sales revenue 101,201 Negotiated by
both parties
0.41%
5 CTCI Resources Engineering Inc. CTCI Development Corp. 2 Sales revenue 190,803 Negotiated by
both parties
0.77%
1 ECOVE Environmental
Services Corp.
ECOVE Waste Management Corp. 3 Accounts receivable 110,982 Negotiated by
both parties
0.16%
0 CTCI Corp. CTCI Engineering & Construction Sdn. Bhd. 1 Other receivables 296,600 Negotiated by
both parties
0.42%
0 CTCI Corp. CTCI Machinery Corp. 1 Other receivables 600,000 Negotiated by
both parties
0.86%
0 CTCI Corp. CCJV P1 Engineering & Construction Sdn. Bhd. 1 Other receivables 1,215,467 Negotiated by
both parties
1.74%
0 CTCI Corp. CTCI Smart Engineering Corp. 1 Other receivables 500,000 Negotiated by
both parties
0.72%
0 CTCI Corp. CTCI (Thailand) Co., Ltd. 1 Other receivables 912,475 Negotiated by
both parties
1.31%
6 ECOVE Environment Corp. ECOVE Solar Energy Corp. 3 Other receivables 252,217 Negotiated by
both parties
0.36%
0 CTCI Corp. CTCI Overseas (BVI) Co. and its subsidiaries. 1 Advance
construction receipt
23,082,517 Negotiated by
both parties
33.06%
3 CTCI Machinery Corp. CTCI Corp. 2 Advance
construction receipt
2,031,650 Negotiated by
both parties
2.91%
5 CTCI Resources Engineering Inc. CTCI Corp. 2 Advance
construction receipt
534,033 Negotiated by
both parties
0.76%
7 CTCI (Thailand ) Co., Ltd. CTCI Corp. 2 Advance
construction receipt
635,210 Negotiated by
both parties
0.91%
0 CTCI Corp. CTCI Development Corp. 1 Refundable deposits 120,959 Negotiated by
both parties
0.17%
CTCI Corporation and its subsidiaries
Significant inter-company transactions during the reporting period
For the six-month period ended June 30, 2020
Table 7 Expressed in thousands of NTD
(Except as otherwise indicated)
Number
(Note 1) Company name Counterparty
Relationship
(Note 2)
Transaction
Table 7 Page 1
General ledger account Amount Transaction terms
Percentage of consolidated total
operating revenues or total assets
(Note 3)
Number
(Note 1) Company name Counterparty
Relationship
(Note 2)
Transaction
0 CTCI Corp. CTCI Americas, Inc. 1 Guarantee 1,353,475$ Not applicable Not applicable
0 CTCI Corp. CTCI Engineering & Construction Sdn. Bhd. 1 Guarantee 2,016,880 Not applicable Not applicable
0 CTCI Corp. CINDA Engineering & Construction Pvt. Ltd. 1 Guarantee 3,432,561 Not applicable Not applicable
0 CTCI Corp. CTCI Arabia Ltd. 1 Guarantee 3,425,730 Not applicable Not applicable
0 CTCI Corp. CTCI Singapore Pte. Ltd. 1 Guarantee 3,395,639 Not applicable Not applicable
0 CTCI Corp. CTCI Overseas Co., Ltd. 1 Guarantee 4,236,405 Not applicable Not applicable
0 CTCI Corp. CTCI Machinery Corp. 1 Guarantee 12,221,058 Not applicable Not applicable
0 CTCI Corp. CTCI Shanghai Co., Ltd. 1 Guarantee 964,124 Not applicable Not applicable
0 CTCI Corp. CTCI Beijing Co., Ltd. 1 Guarantee 1,291,778 Not applicable Not applicable
0 CTCI Corp. CCJV P1 Engineering & Construction Sdn. Bhd. 1 Guarantee 163,130 Not applicable Not applicable
0 CTCI Corp. CTCI Smart Engineering Corp. 1 Guarantee 1,657,806 Not applicable Not applicable
0 CTCI Corp. CTCI (Thailand) Co., Ltd. 1 Guarantee 2,903,871 Not applicable Not applicable
0 CTCI Corp. CTCI-HDEC (Chungli) Corp. 1 Guarantee 102,000 Not applicable Not applicable
0 CTCI Corp. CIPEC Construction Inc. 1 Guarantee 547,451 Not applicable Not applicable
0 CTCI Corp. CTCI Malaysia Sdn. Bhd. 1 Guarantee 711,840 Not applicable Not applicable
9 CTCI Chemical Corp. CTCI Machinery Corp. 3 Guarantee 532,830 Not applicable Not applicable
5 CTCI Resources Engineering Inc. CTCI Smart Engineering Corp. 3 Guarantee 267,102 Not applicable Not applicable
6 ECOVE Environment Corp. ECOVE South Corp. Ltd. 3 Guarantee 150,000 Not applicable Not applicable
6 ECOVE Environment Corp. ECOVE Solar Power Corp. 3 Guarantee 417,000 Not applicable Not applicable
6 ECOVE Environment Corp. ECOVE Solar Energy Corp. 3 Guarantee 2,070,725 Not applicable Not applicable
6 ECOVE Environment Corp. ECOVE Solvent Recycling Corp. 3 Guarantee 157,600 Not applicable Not applicable
10 ECOVE Solar Energy Corp. ECOVE Solar Power Corp. 3 Guarantee 757,076 Not applicable Not applicable
Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:
(1) Parent company is ‘0’.
(2) The subsidiaries are numbered in order starting from ‘1’.
Note 2: Relationship between transaction company and counterparty is classified into the following three categories; fill in the number of category each case belongs to (If transactions between parent company and subsidiaries or between
subsidiaries refer to the same transaction, it is not required to disclose twice. For example, if the parent company has already disclosed its transaction with a subsidiary, then the subsidiary is not required to disclose the transaction;
for transactions between two subsidiaries, if one of the subsidiaries has disclosed the transaction, then the other is not required to disclose the transaction.):
Note 1: If a public company is equipped with an overseas holding company and takes consolidated financial report as the main financial report according to the local law rules,
it can only disclose the information of the overseas holding company about the disclosure of related overseas investee information.
Note 2: If situation does not belong to Note 1, fill in the columns according to the following regulations:
(1) The columns of ‘Investee’, ‘Location’, ‘Main business activities’, Initial investment amount’ and ‘Shares held as at June 30, 2020’ should fill orderly in the Company’s (public company’s)
information on investees and every directly or indirectly controlled investee’s investment information, and note the relationship between the Company (public company) and its investee each
(ex. direct subsidiary or indirect subsidiary) in the ‘footnote’ column.
(2) The ‘Net profit (loss) of the investee for the six-month period ended June 30, 2020’ column should fill in amount of net profit (loss) of the investee for this period.
(3) The ‘Investment income (loss) recognized by the Company for the six-month period ended June 30, 2020’ column should fill in the Company (public company) recognized investment income (loss)
of its direct subsidiary and recognized investment income (loss) of its investee accounted for under the equity method for this period. When filling in recognized investment income (loss) of its
direct subsidiary, the Company (public company) should confirm that direct subsidiary’s net profit (loss) for this period has included its investment income (loss) which shall be recognized by regulations.
Mainland China Main business activities Paid-in capital
Investment method
(Note 1)
Accumulated
amount of
remittance from
Taiwan to
Mainland
China
as of
January 1,
2020
Ownership
held by
the
Company
(direct or
indirect)
Investment
income (loss)
recognized
by the Company
for the six-
month period
ended June 30,
2020
(Note 2(2)B)
Book value of
investments in
Mainland China
as of June 30,
2020
Accumulated
amount
of investment
income
remitted back to
Taiwan as of
June 30, 2020
Amount remitted from Taiwan
to Mainland China/
Amount remitted back
to Taiwan for the six-month
period ended June 30, 2020
CTCI Corporation and its subsidiaries
Information on investees (in Mainland China)
For the six-month period ended June 30, 2020
Table 9 Expressed in thousands of NTD
(Except as otherwise indicated)
Table 9 Page 1
Company name
Accumulated amount of remittance
from Taiwan to Mainland China
as of June 30, 2020
Investment
amount approved
by the Investment
Commission of
the Ministry of
Economic Affairs
(MOEA)
Ceiling on investments in
Mainland China imposed
by the Investment
Commission of MOEA
CTCI Corp. $ 1,253,072 $ 1,162,689 $ 9,132,151
Note 1: Investment methods are classified into the following three categories; fill in the number of category each case belongs to:
(1) Directly invest in a company in Mainland China.
(2) Through investing in an existing company in the third area, which then invested in the investee in Mainland China.
(3) Others
Note 2: In the Investment income (loss) recognized by the Company for the six-month period ended June 30, 2020 column:
(1) FuJian Galie Petrochemical Co., Ltd. did not accrue investment income or loss since it was still in preparation.
(2) Indicate the basis for investment income (loss) recognition in the number of one of the following three categories:
A.The financial statements were reviewed and attested by R.O.C. parent company’s CPA.
B. It is an insignificant subsidiary, and its financial report was not reviewed by the independent accountant.
C.Others.
Note 3: Invested by CTCI Overseas Co., Ltd.
Note 4: Invested by Century Ahead Ltd.
Note 5: Invested in Dynamic Ever Investments Limited through Ever Victory Global Limited.
Note 6: Invested by CTCI Shanghai Co., Ltd.
Note 7: Invested by CTCI Beijing Co., Ltd.
Table 9 Page 2
Note 1: (1) The major shareholders information was derived from the data that the Company issued common shares (including treasury shares) and preference shares in dematerialised form which were registered and held by
the shareholders above 5% on the last operating date of each quarter and was calculated by Taiwan Depository & Clearing Corporation. The share capital which was recorded in the financial statements is
different from the actual number of shares issued in dematerialised form because of the different calculation basis.
(2) If the aforementioned data contains shares which were held in trust by the shareholders, the data was disclosed as a separate account of client which was set by the trustee. As for the shareholder who
reports share equity as an insider whose shareholding ratio is greater than 10% in accordance with Securities and Exchange Act, the shareholding ratio include the self-owned shares and shares held in trust,
at the same time, the shareholder who has the power to decide how to allocate the trust assets. For the information on reported share equity of insider, please refer to Market Observation Post System.