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新鉅科技股份有限公司 NEWMAX TECHNOLOGY CO., LTD. 九十九年度現金增資發行新股用一、公司名稱:新鉅科技股份有限公司 二、本公開說明書編印目的:現金增資發行新股 (一)新股來源:現金增資 (二)新股種類:記名式普通股,每股面額新台幣壹拾元整。 (三)股數:本公司原股數 77,714,960 股,加計本次現金增資 7,000,000 股,共計 84,714,960 股。 (四)金額:本公司原實收資本額為新台幣 777,149,600 元,加計本次現金增資 70,000,000 元,共計新台幣 847,149,600 元整。 (五)發行條件: 1.本次現金增資發行普通股 7,000,000 股,每股面額新台幣 10 元整,發行價格為每股 新台幣 115 元溢價發行,可募集之資金總額為新台幣 805,000 仟元。 2.本次現金增資依公司法第 267 條規定,保留 10%805,000 股予本公司員工承購, 並依證券交易法第 28 條之 1 規定,提撥發行新股總數 10%700 仟股公開申購承 銷用途,其餘 80%5,600 仟股由原股東按認股基準日股東名簿記載之持股比例認 購,其認購不足壹股之畸零股得由股東自行在認股基準日起五日內逕向本公司股務 代理機構辦理拼湊,其放棄認購或拼湊後不足壹股之畸零股,授權董事長洽特定人 按發行價格認購。 3.本次現金增資發行新股之權利義務與原股份相同。 (六)公開承銷比例:本次現金增資發行新股之 10%,計 700,000 股。 (七)承銷及配售方式:公開申購配售方式對外公開承銷。 三、本次資金運用計劃之用途及預計可能產生效益之概要:請參閱 41~53 頁。 四、本次發行相關費用: (一)承銷費用:總承銷金額之百分之二.五,約新台幣貳佰零拾壹萬貳仟伍佰元。 (二)其他費用:包括會計師、律師公費及印刷等費用:約計 15 萬元。 五、有價證券之生效,不得藉以作為證實申報事項或保證證券價值之宣傳。 六、本公開說明書之內容如有虛偽或隱匿之情事者,應由發行人及其負責人與其他曾在公開說 明書上簽名或蓋章者依法負責。 七、投資人應詳閱本公開說明書之內容,並應注意本公司之風險事項,請參閱本公開說明書第 2~4 頁。 八、查詢本公開說明書之網址:http//newmops.tse.com.tw 新鉅科技股份有限公司 編製 九十九 二十九 股票代3630

新鉅科技股份有限公司 - ftsi.com.t · 新鉅科技股份有限公司 newmax technology co., ltd. 公 開 說 明 書 (九十九年度現金增資發行新股用) 一、公司名稱:新鉅科技股份有限公司

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  • NEWMAX TECHNOLOGY CO., LTD.

    :

    77,714,960 7,000,000 84,714,960

    777,149,600 70,000,000

    847,149,600

    1. 7,000,000 10 115 805,000

    2. 267 10% 805,000 28 1 10% 700 80% 5,600

    3.

    10% 700,000

    41~53

    15

    2~4 http//newmops.tse.com.tw

    3630

  • () 120,000,000 15.44%(1) 566,260,000 72.86% 59,989,600 7.72% 3,000,000 0.39% 27,900,000 3.59% 777,149,600 100.00140,680363,675

    () () ()(http://newmops.tse.com.tw)

    http://www.ftsi.com.tw 228 (02) 2563-6262

    http://www.ftsi.com.tw 225 (02) 2563-5711

    http//www.kpmg.com.tw 768 (02) 8101-6666

    : 21013F (04) 2371-0480

    : [email protected] 042686-4526

    [email protected] :042686-4526

    http://www.newmax.com.tw

  • 777,150 667 7 042686-452688 8 30 http//www.newmax.com.tw 99 4 26 97.06.03

    (02) 2563-5711 http://www.ftsi.com.tw

    22 5 (02) 2563-6262 http://www.ftsi.com.tw

    22 8 (02) 8101-6666 http://www.kpmg.com.tw

    7 68 (04)2371-0480 2 101 3F : 99 5 12 3 99 5 12 3 29.35(99 10 5 ) 0.88(99 10 5 ) 10%(99 10 5 ) 1.62 % 0.51% 0.87 % 0.37%

    25.08 %

    25.08 %

    1.78 %

    667 7 042686-4526

    (Lens Moudule) (98 ) 3.58% 96.42% 30 2~4

    (98) 952,890 94,717 1.52 100

    41~53

    99 10 29 99

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    () ()

    667 7 (04)2686-4526

    () 88 08 - 120,000 88 10 -

    89 04 - 78,000 198,000 90 03 -

    90 05 - 132,000 330,000 91 03 - 99,000 429,000 92 03 - SGS ISO 9001 92 05 - 214,500 214,500 92 05 - 100,000 314,500 93 03 - 218

    17 93 06 - 180,000 494,500 93 09 - ISO 90001 94 01 - SGS ISO14001 94 07 - 667 7 95 06 - 74,175 420,325 95 06 - 100,000 520,325 96 03 - 79,675 600,000 96 12 - 75,000 525,000 96 12 - 75,000 600,000 97 06 - 97 07 - 97 07 - 16,000 3,000

    619,000 98 10 - 13,950 632,950

    99 03 - 13,950 646,900

    99 04 -(99 4 26)

  • 2

    99 04 - 86,260 733,160 99 06 - 43,990 777,150

    ()

    1.: (1) 98 99 1,189 356

    0.12% 0.07%

    (2)

    98 99 322 3,659 0.03%0.7%

    (3)

    2. (1)

    (2) 100% Newmax International Co., Ltd.

    3.

    (1) Notebook Mobile

    (2)

    4.

  • 3

    5.

    6.

    7.

    8.

    99 7 29 3 5

    9.

    (1) 98 99 57%38%

    (2) 98 99 100% 100%

    10.

    11.

    12.:

    () 1.

  • 4

    2.

    98 (1)

    98 12 30 98 40

    98 1244 (2)

    99 2 11 98 1359 2981086 99 6 4

    99 6 4

    3.

    ()

    ()

    ()

    1.

  • 5

    2.

    MIS

    1. 2. 3. 4.

    1. 2. 3. 4.

    1. 2. 3. 4. 5. 6.

    1. 2. 3. 4. 5.

  • 6

    ():

    99 9 30 /:

    () (%)

    Newmacro International Co.,

    Ltd. 15,400 100.00 505,932 (USD15,400 )

    Newmax International Co.,

    Ltd.

    100%

    15,400 100.00 (USD15,400 )

    100%

    100.00 (USD7,350 )

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    100

    100

    100

  • 7

    () 99 10 5 /

    96.12.26 678,521 0.87% - - - -

    () () ()

    - - -

    94.7.1 13,265 0.02% - - - - () ()

    - - -

    95.5.0 193,349 0.25% 816 0.001% - -

    () () ()

    - - -

    97.1.1 147,758 0.19% - - - -

    () () ()

    - - -

    94.5.1 46,075 0.06% - - - - ()

    - - -

    24

  • 8

    () 1.

    99 10 5 :/

    90.1.17 99.5.12 1,186,197 1.83% 1,257,508 1.62% 3,180 0.01% - -

    () ()() ()

    () () Newmacro International Co., Ltd.Newmax International Co., Ltd.

    - - -

    95.3.20 99.5.12

    678,039 1.05% 678,521 0.87% - - - -

    () ()()

    - - -

    19,694,736 30.45 19,494,736 25.08 - - - - - - - - -

    93.5.14 99.5.12

    0 0% 0 0% - - - -

    ()

    () DKB () () () () ()

    - - -

  • 9

    19,694,736 30.45 19,494,736 25.08 - - - - - - - - -

    93.5.14 99.5.12

    0 0% 0 0% - - - -

    MBA () () DSC

    () () () ()

    - - -

    1,305,336 2.02 1,383,656 1.78 - - - - - - - - -

    93.5.14 99.5.12

    0 0% 0 0% - - - -

    () () () () () () ()

    - - -

    98.6.5 99.5.12 0 0% 0 0% - - - - ()

    ()

    - - -

    97.6.27 99.5.12

    0 0% 0 0% - - - -

    - - -

  • 10

    99.5.12 99.5.12

    0 0% 0 0% - - - -

    - - -

    96.5.24 99.5.12

    373,078 0.58% 395,462 0.51% 71,892 0.10% - - - - - -

    90.4.11 99.5.12

    273,028 0.42% 289,409 0.37% - - - - - - - - -

    97.6.27 99.5.12

    0 0% 0 0% - - - -

    ()

    () ()

    - - -

  • 11

    2.

    (1)

    ()(100.00%) ()(100.00%) (13.57%) (13.57%)

    (9.94%)(9.94%)(9.05%)(5.60%)(5.43%)(4.47%)(4.46%)(3.69%)

    (2)

    () (12.06%)()(4.41%)

    (3.45%) ( ) (3.13%) ( ) (2.48%) ( ) (2.39%) (2.14%)(1.93%)(1.70%)(1.69%)

    () ()(100.00%)

  • 12

    3.

    1 2 3 4 5 6 7 8 9 10

    - - - - - - -

    - - - - -

    - - - - -

    - - -

    - - - - - - - - - -

    1 2 (

    ) 3 4 5

    6 7

    8 9 30 10 27

    ()

  • 13

    () 1.

    (1)()() 98 12 31

    (A) (B)

    (C)

    (D)

    AB C D

    (E)

    (F) ( 6)

    (G) (H)

    ABCDEF G

    ( 3) ( 1) ( 2) ( 4) ( 5)

    2,650 2,650 - - 1,649 1,649 451 451 5.65% 5.65% 3,159 3,159 108 108 929 - 929 - 1,000 1,000 10.40% 10.40%

    198.3.13 298.6.5 399.7.7 499.5.12 599.5.1298 6

  • 14

    (A+B+C+D) (A+B+C+D+E+F+G)

    2,000,000

    ()()

    ()()

    () ()

    () ()

    2,000,000 5,000,000 5,000,000 10,000,000 - - - - 10,000,000 15,000,000 - - - - 15,000,000 30,000,000 - - - - 30,000,000 50,000,000 - - - - 50,000,000 100,000,000 - - - - 100,000,000 - - - - 4,750 4,750 8,946 8,946

    (2)()() 2.

    (1)() 98 12 31

    (A) (B))

    (C)

    AB C

    ( 1)

    - - 672 672 63 63 0.85% 0.85%

    198.03.13

    (A+B+C) D

    2,000,000

    2,000,000 5,000,000 - - 5,000,000 10,000,000 - - 10,000,000 15,000,000 - - 15,000,000 30,000,000 - - 30,000,000 50,000,000 - - 50,000,000 100,000,000 - - 100,000,000 - - 735 735

    (2)()

  • 15

    3. (1)()

    98 12 31

    (A)

    (B)

    ( 1)

    (C)

    (D)

    ABC D

    9

    3,159 3,159 108 108 292 292 929 - 929 - 5.22% 5.22% 500 500

    1

    (A+B+C+ D)

    E

    2,000,000 - - 2,000,000 5,000,000 5,000,000 10,000,000 - - 10,000,000 15,000,000 - - 15,000,000 30,000,000 - - 30,000,000 50,000,000 - - 50,000,000 100,000,000 - - 100,000,000 - - 4,488 4,488

    (2)()

    4. 98 12 31

    - 2,787 2,787 3.24

  • 16

    5.

    (1)

    98 97

    %

    %

    8,946 8,946 10.40% 10.40% 7,103 7,103 17.05% 17.05%

    735 735 0.85% 0.85% 409 409 0.98% 0.98%

    4,488 4,488 5.22% 5.22% 3,576 3,576 8.58% 8.58%

    (2) A

    B

    C 961227

    D

    () 99 09 30

    77,714,960 72,285,040 150,000,000 5,000,000

  • 17

    () 1. 99 09 30 /

    88.08 10 18,000 180,000 12,000 120,000 - 1

    89.04 10 19,800 198,000 19,800 198,000 78,000 - 2

    90.05 10 60,000 600,000 33,000 330,000 132,000 - 3

    91.03 10 60,000 600,000 42,900 429,00099,00060,400

    38,600 4

    92.05 10 60,000 600,000 21,450 214,500 214,500 - 592.05 15 60,000 600,000 31,450 314,500 100,000 - 693.05 16 60,000 600,000 49,450 494,500 180,000 - 795.06 10 60,000 600,000 42,032.5 420,325 74,175 - 8

    95.06 12 60,000 600,000 52,032.5 520,325100,00097,920

    2,080 9

    96.03 12 60,000 600,000 60,000 600,000 79,675 - 1096.10 10 80,000 800,000 52,500 525,000 75,000 - 1196.11 20 80,000 800,000 60,000 600,000 75,000 - 12

    97.11 10 80,000 800,000 61,900 619,00016,000 3,000

    - 13

    98.10 10.65 80,000 800,000 63,295 632,950

    13,950 - 14

    99.03 10.65 80,000 800,000 64,690 646,900

    13,950 - 15

    99.05 35 80,000 800,000 73,316 733,160 86,260 - 1699.07 10 150,000 1,500,000 77,715 777,150 43,990 - 171. 88 08 30 (88) 088132154

    2. 89 04 07 (89) 089110261 3. 90 05 23 (90) 09001180140 4. 91 03 19 09101091750 5. 92 05 23 09201154290 6. 92 05 23 09201154290 7. 93 06 07 09332208580 8. 95 06 13 09501105640 9. 95 06 13 09501105640 10. 96 03 14 09601050290 11. 96 12 13 09601303200 12. 96 12 13 09601303200 13.97.07.21 0970036632 14. 98 10 27 09801245280 15. 99 03 03 09901039970 16. 99 05 03 09901088680 17. 99 07 13 09901147010

    2.

  • 18

    () 1. 99 10 5 /

    - - 82 9,918 18 10,018 - - 31,565,266 45,256,077 893,617 77,714,960 - - 40.62% 58.23% 1.15% 100%

    2.( 10 )

    99 10 5 / () (%)

    1-999 1,719 229,422 0.29%1,000-5,000 6,803 12,674,935 16.31%5,001-10,000 734 5,657,450 7.28%10,001-15,000 248 3,175,280 4.09%15,001-20,000 142 2,615,835 3.37%20,001-30,000 135 3,402,741 4.38%30,001-50,000 96 3,859,905 4.96%50,001-100,000 60 4,212,342 5.42%100,001-200,000 41 6,015,196 7.74%200,001-400,000 26 7,356,218 9.47%400,001-600,000 6 2,726,215 3.51%600,001-800,000 4 2,758,521 3.55%

    800,001-1,000,000 1 895,000 1.15%1,000,001 3 22,135,900 28.48%

    10,018 77,714,960 100.00%

    3.

    99 10 5

    19,494,736 25.08% 1,383,656 1.78% 1,257,508 1.62% 895,000 1.15% 730,000 0.94% 700,000 0.90% 678,521 0.87% 650,000 0.84% 570,000 0.73% 456,578 0.59%

  • 19

    4.

    5. (1)

    :

    97 98 99 10 5

    ()

    ()

    ()

    ()

    ()

    ()

    43,658 - 150,000 - 221,311 -

    84,039 - 300,000 - 482 -

    511,551 - - - - -

    511,551 - - - (200,000) -

    33,904 - - - 78,320 -

    ( 1) 35,737 - (35,000) - - - ( 6) - - - - - - ( 3) - - - - -

    - - - - - - ( 4) - - - - - - ( 5) ( 2) - - - - - - (99,151) - 30,000 - 22,384 -

    87,091 - - - 16,381 -

    - - - - - - 19,173 - 87,000 - (249,401) - (49,857) - 150,000 - 25,831 -

    6,253 - 110,000 - 12,005 - 5,551 - 25,000 - (5,147) -

    1 98.3.13 2 98.03.13 3 98.06.05 4 99.05.12 5 99.05.12 6 99.07.07

  • 20

    (2) 10%

    (3)

    6.

    99 10 5

    19,494,736 25.08%- - - - - - -

    1,383,656 1.78%- - - - - - -

    1,257,508 1.62% 3,180 0.01% - - -

    895,000 1.15%- - - - -

    730,000 0.94% - - -

    700,000 0.90% - - - - -

    678,521 0.87% - - - - -

    650,000 0.84% - - - - -

    570,000 0.73%- - - - - - -

    456,578 0.59% - - - - - - -

    1:

  • 21

    ()

    98 99 6 30

    / 175.50 / 81.20

    / 122.06 13.19 14.99

    11.71 - () 62,491 72,308

    1.38 0.65

    1.25 - 0.60 -

    0.60 - - -

    - - / -

    / -

    / -

    ()

    1.

    2.

    99 5 12 98

    98

    ( 0.60 ) 43,989,600 ( 0.60 ) 43,989,600 87,979,200

    ()

  • 22

    () 1.

    (1) (2) (3)

    2. (1)

    12% 3%

    (2)

    (3)

    3. 4.

    (1) 98 99 5 12 2,321,517 9,286,068

    (2)

    (3) 98

    5.(97 )

    ()

    ()

  • 23

    ()

    1

    2

    95.10.01 96.12.27

    5 6

    3,000 2,000

    3.86% 2.57%

    % 50% 100%

    50% 100%

    3,000,000

    31,950,000

    2,000,000

    10.65 10.03

    %

    2.57%

    20,000 2.57%

  • 24

    ( )

    1,400,000 2.16% 740,000 10.65 7,881,000 1.14% 660,000 10.03 7,411,800 1.02%

    ( )

  • 25

    () 1.

    (1) CE01030 CC01080 CC01990 F401010

    (2)

    97 98

    707,891 92.79% 905,346 95.01% 55,039 7.21% 47,544 4.99% - - - - 762,930 100.00% 952,890 100.00%

    (3)()

    A.(VGA1.3M2M) B.(VGA1.3M2M3M5M) C. D.PC DV

    (4)() A. DVPCNB () B. C. D. E.Finger Navigator F. Lens

    2 (1)

    NB

  • 26

    500

    NB 2009 NB Camera NB Camera

    All-In-One PC XBOX 360 KinectAll-In-One PC

    (2) PIDA

    Hybrid

  • 27

    ()

    PCCR-39PMMA

    ()

    CD DVD

    PC CameraeraData Projector

    CD-RW/ROM DriveDVD-ROM Drive

    ()

    PIDA (3)

    NB Camera 2009 NB cam 1.25 DIGITIMES Research 2009 NB 1.62 NB NB cam 76.9% 2008 56.4%

    2010 NB cam NB NB Camera NB Camera NB Camera ()NB Camera

    NB Camera NB 2 NB 2010 1.58 76.9% 78.4% DIGITIMES 2009 2012 23.8% 2012 NB Camera 80.6%

  • 28

    2.37

    2008~2012 NB (CM)

    DIGITIMES 2010/3

    (4)

    3.

    (1)

    A.

    PC CamDV Cam

    B.NoteBook Camera Lens NB

    NB NB NB Camera NB Camera

  • 29

    C.Mobile Phone Lens

    D. Lens

    3D

    E.

    (2) 99 9 30

    13 17.33% () 40 53.34% () 22 29.33% 75 100.00%

  • 30

    (3)

    95 11/4 130 2300 DV 3200 PC Cam

    51,575

    96 130130 21/42001/6130 3500 DV

    65,411

    97 11/4300 21/5200 31/5 200

    77,852

    98

    1 Lens 2 3DVPC CAMNB(

    )

    86,869

    99 6/30

    DVPC CAMNB ()

    50,458

    4. (1)

    A. B. C. D.

    (2) A. B. C. D.

    () 1.

    (1)

    97 98

    32,817 4.30% 34,141 3.58% 730,113 95.70% 918,749 96.42% 762,930 100.00% 952,890 100.00%

  • 31

    (2)

    98 3,650 NB Camera9866%20094(MIC) 98 NB Camera 10,808 9,950 98 33.77%36.68%

    (3)

    1

    2

    3

    4

    5

    6

  • 32

    2. (1)

    DVD

    PC CAMDV CAMNB CAM CCTV CAM

    (2)

    A: -> -> -> -> -> -> -> -> -> -> -> -> -> .

    B. -> -> P lens -> -> P lens -> -> -> P lens -> -> -> -> -> LED -> -> -> -> -> 40x

    3.

    ()

    ()

    ()

  • 33

    4.

    5.

    (1)

    97 98 99

    1

    ()

    382,164 50 1

    ()

    533,534 56 1

    ()

    228,720 44 1

    2

    ()

    153,419 20 1

    244,720 26 1

    178,373 34 1

    3 Chicony

    Overseas, Inc.

    58,744 8 1

    ()

    41,318 4 1

    4 168,603 22 133,318 14 111,905 22

    762,930 100 952,890 100 518,998 100

    1

    () 98

    %

    97 762,930 556,684 206,246 27.03%

    98 952,890 761,216 191,674 20.12% 33.94%

    98 73%

    80% 97 20.12%

  • 34

    (2)

    97 98 99

    1. Newmax

    International Co., Ltd.

    556,684 100% 1Newmax

    International Co., Ltd.

    761,216 100% 1Newmax

    International Co., Ltd.

    417,793 100% 1

    1Newmax 100

    6.

    / 97 98

    ( 1) ()

    () ( 1)

    ()

    ()

    - 41,720 518,772 - 50,170 724,150

    - 3,777 37,912 - 2,828 37,066

    - -

    - 45,497 556,684 - 52,998 761,216

    1

    7. /

    97 98

    242 6,447 41,478 701,385 105 6,190 50,065 899,156

    851 26,370 2,926 28,728 963 27,951 1,865 19,593

    - - - -

    1,093 32,817 44,404 730,113 1,068 34,141 51,930 918,749

  • 35

    ()

    97 98 99 9 30 26 25 32 66 69 85 92 94 117

    34 34 34.8 4.64 5.32 4.96

    13.19% 17.20% 14.53% 64.80% 59.15% 60.68% 18.68% 19.35% 22.22%

    3.33% 4.30% 2.57% (%)

    100.00% 100.00% 100.00%

    () 1.

    2.:

    3.

    4.

    5.

    () 1. (1)

    A B

    C

    (2) A

    B

    C(

    )

  • 36

    D

    9 (3)

    A

    B 6%

    (4)

    (5)

    2.

    () 1 . 2 .

    () 1 . 10% 2 . 500

    () 1 . 2 .

  • 37

    ()

    99 6 30

    1

    Newmacro International

    Co., Ltd.

    USD15,400

    508,243

    15,400

    100%

    508,243 ( 2)

    33,369

    -

    -

    1 2

    ()

    Newmacro International Co.,

    Ltd. 15,400 100% - - 15,400 100%

    ()

    () 185

  • 38

    99 9 30

    99.06.27~100.06.27 -

    99.06.27~100.06.27 -

    99.06.27~100.06.27

    -

    97.03.17~112.02.16 -

    99.07.19~100.07.19 / -

    99.08.18~100.08.18 -

    99.08.18~100.08.18 -

    99.06.17~100.06.16 -

    99.06.17~100.06.16

    -

    99.01.06~100.01.06 -

    99.08.24~100.08.24 -

    99.08.24~100.08.24 -

    98.12.31~99.12.31 -

    99.08.31~100.08.31 -

    99.08.31~100.08.31 -

    99.09.16~101.09.16 -

    99.09.16~100.09.16 -

    CP 99.03.30~100.03.29

    -

    CP 99.03.02~100.03.01

    -

  • 39

    :

    ()96

    1. (1)96 12 13 09601303200

    (2) 150,000 (3) 75,000 20 150,000

    (4)

    96

    96 12 150,000 150,000 150,000 150,000

    2.

    150,000 100%

    150,000 100% 96 12

    3.

    95 96

    117,363 334,018 101,310 77,809 106,801 84,376 268,766 493,474

    () (2.13) 0.44 19.76 10.56

    (%) 724.46 715.42 115.85 429.28

    112.58 421.36

    96 12 96

  • 40

    95 19.76% 10.56% 95 268,766 96 493,474 96

    ()99 1.

    (1)99 3 29 0990012761

    (2) 301,910 (3) 8,626 35 301,910

    (4)

    99

    1 2

    99 2 301,910 301,910

    301,910 301,910

    2.

    301,910 100%

    301,910 100% 99

    3.

    98 99 ()

    425,957 766,044 162,502 242,524 202,651 283,104 952,890 493,474

    () 1.38 0.58 19.29% 19.73%

    629.05% 818.29% 262.12% 315.86%

    248.24% 311.62%

    99

  • 41

    99 98 98 268,766 99 493,474 99

    () 1. 1,010,000 2.

    (1) 70,000 10 115 805,000

    (2) 205,000 3.

    99 100 101

    100 350,000 120,000 65,000 65,000 65,000 35,000 101 660,000 264,000 330,000 66,000

    1,010,000 120,000 65,000 65,000 329,000 365,000 66,000

    4.

    (1) 350,000

    2,000 3,000 99 3 1 60 / 290 / 11,880

  • 42

    (2) 660,000

    ()

    101 45,000 45,000 1,152,514 345,754 126,777102 60,000 60,000 1,416,146 424,844 155,776103 60,000 60,000 1,306,004 391,801 143,660104 60,000 60,000 1,205,303 361,591 132,583105

    60,000 60,000 1,113,177 333,953 122,449

    ()

    ()

    ()

    ()

    ()

    () ()

    1.

    (1)

    99 7 29

    (2)

    7,000 115 805,000 267 10% 700,000 28 1 10% 700,000 80%

  • 43

    (3)

    A.

    2,0009972999103,00099100

    B. a.

    ()(MTF)

    101

    b.

    c. 201245,000~60,000

    DIGITIMES

    07NB CamNB CamNB Cam

    3D

  • 44

    (Lens Module)

    2. (1)

    A. 20112008

    1,400

    B.

    2010

    C.

    (2)

    (Lens Module)

  • 45

    A.NB Camera

    2007NB Camera

    90%NB CameraNB CameraDIGITIMES 2009201223.8%2012NB Camera80.6%2.37NB Camera

    NB Camera

    B.

    3D

  • 46

    C.

    ()

    D.

    99493,474762,930952,890262,48820%9982.21%97

    NB Camera

    101

    3. (1)

    805,000 99 8 18

    99

    99 100 101

    100 350,000 120,000 65,000 65,000 65,000 35,000 101 660,000 264,000 330,000 66,000

    1,010,000 120,000 65,000 65,000 329,000 365,000 66,000

  • 47

    A.

    2,000RC(3,000)350,000

    997299910

    991001001011

    B. 660,000

    473,000()187,000(MTF)100101264,000330,00066,000

    1001011

    (2)

    A.

    2,0003,000993160/290/11,880

  • 48

    B.

    101 45,000 45,000 1,152,514 345,754 126,777102 60,000 60,000 1,416,146 424,844 155,776103 60,000 60,000 1,306,004 391,801 143,660104 60,000 60,000 1,205,303 361,591 132,583105

    60,000 60,000 1,113,177 333,953 122,449

    a.

    40%NB CAMERA

    b.

    NB CAMERA

    1011101105

    1,152,5141,416,1461,306,004

    1,205,3031,113,177 c.

    101105

    345,754424,844391,801361,591333,953

    30%99

    28.81%29.18%31.42%36.01%

    (Lens Module)

    10110530% 101105126,777155,776

    143,660132,583122,44911%

    10110519%

  • 49

    9924.16%19.19%16.63%17.21%19%

    d.

    101 ( 1)

    102 103 104 105

    126,777 155,776 143,660 132,583 122,449( 2) 62,419 80,753 80,753 80,753 80,753 189,196 236,529 224,413 213,336 203,202

    189,196 425,725 650,138 863,474 1,066,676 4.72 11014 28+130+1

    1,010,000

    1014.72

  • 50

    4.() (1)

    1.0%~2.0%

    1.

    2.

    3. 10%~15%

    1.

    2.

    500

    2.0~3.5%

    1.

    2.

    3.

    1.

    2.

    1.5%~3.0% 1%

    1. 2.

    1. 2. 3.

    0%~1%

    0%~2%

    0.8%~2.0%

    1.

    2.

    3.

    4.

    1.

    2. 3.

    4.

    1.5%~3.5% 1. 2.

    3.

    1. 2. 3.

    4.

    (2)

    ()

  • 51

    784,000 784,000 784,000 784,000( 1) 1.85% 1.50% 0.00% 0.00% 14,504 11,760 0 099 8 5 77,715 77,715 77,715 77,715( 2) 77,715 77,715 82,959 84,71599 ( 2) 77,715 77,715 78,589 78,882( 3) 2,417 2,940 0 0() 0.0311 0.0378 0.0000 0.0000 ( 4) 0.00% 0.00% 1.11% 1.48%( 5) 1,854,466 1,853,943 1,856,883 1,856,883( 6) 969,209 969,209 185,209 185,209(%) 52.26% 52.28% 9.97% 9.97%

    1 99 1.85% 1.50%

    2(1) 784,000 112 7,000,000 11 84,714,960 78,881,627 (77,714,960 +2/127,000,000 )

    (2) CB7,840 100 101%149.5105,244,147(784,000/149.5 ) 78,588,985 (77,714,960 +2/125,244,147 )

    3 11 2 CB 11

    41-/ 5 99 6 99

    A.

    14,504

  • 52

    B.

    C. 991.48%

    10%1.65%

    ()

    () 1.() (1)

    2,000 3,000 99 3 1 60 / 290 / 11,880

  • 53

    (2)

    101 45,000 45,000 1,152,514 345,754 126,777102 60,000 60,000 1,416,146 424,844 155,776103 60,000 60,000 1,306,004 391,801 143,660104 60,000 60,000 1,205,303 361,591 132,583105

    60,000 60,000 1,113,177 333,953 122,449

    2. 3. 4. 5.

  • 54

    () 1.

    : 1

    94 2

    95 2

    96 97 98

    99 6 30

    42,549 117,363 334,018 297,905 425,957 734,457 242,984 222,196 330,281 429,321 464,164 508,243 61,433 60,263 99,911 162,897 139,191 136,579 - - 5,584 14,038 7,954 9,093 187,275 139,009 29,361 18,082 13,415 18,137 534,241 540,480 799,155 922,243 1,050,681 1,406,509

    101,839 101,310 77,809 105,449 162,502 203,038 101,839 101,310 81,809 130,209 206,492 - 14,289 2,904 - 35,555 27,549 26,215 3,675 2,587 6,567 8,343 12,600 12,187

    119,804 106,801 84,376 149,347 202,651 241,440 119,804 106,801 88,376 174,107 246,641 - 494,500 520,325 600,000 619,000 642,695 777,150 - 20,000 75,000 75,000 75,907 289,464

    (78,004) (108,415) 25,430 47,099 108,321 67,666

    (78,004) (108,415) 2,887 22,339 20,341 - - - - - - -

    (2,059) 1,769 14,349 31,797 21,107 30,789

    - - - - - -

    414,437 433,679 714,779 772,896 848,030 1,165,069

    414,437 433,679 710,779 748,136 804,040 -

    1 2

  • 55

    2. (:)

    1

    94 95 96 97 98 99 6 30

    124,869 268,766 493,474 762,930 952,890 518,998 28,989 79,347 129,624 206,246 191,674 100,821 (58,101) (21,723) 10,380 59,823 28,233 11,659 10,166 7,141 22,725 13,900 68,804 40,793 15,288 89,456 11,045 24,516 2,320 395

    (63,223) (104,038) 22,060 49,207 94,717 52,057

    (63,223) (104,038) 22,060 49,207 94,717 52,057 - - - - - - - - - - - -

    - - - - - -

    (63,223) (104,586) 22,910 41,669 85,982 47,325 (1.72) (2.43) 0.44 0.67 1.38 0.65 1

    ()

    1.

    2.

    3.

    ()() 4,561

    4.

  • 56

    5.

    (96) 052 4,219 0.07

    6.

    736 0.01

    () 1.

    94 95 96 97 98

    2.

  • 57

    ()

    1 (20%) 1.9897989897

    2.989798

    3.989798 4.989897

    5.()989798

    6.64 7.98979897

    ( 1)

    94 95 96 97 98

    99 6 30

    22.43 19.76 10.56 16.19 19.29 17.17()

    697.88 724.46 715.42 496.30 629.05 872.23 41.78 115.85 429.28 282.51 262.12 361.73 39.45 112.58 421.36 275..50 257.23 352.56() (20.29) (30.68) 7.96 25.79 80.20 147.23() 4.88 4.20 5.75 6.84 5.55 5.14 74.76 86.82 63.45 53.33 65.76 71.01() - - - - - - 5.68 15.89 40.99 49.94 14.86 15.36 - - - - - -() 2.34 4.42 6.16 5.81 6.31 7.52

    () 0.23 0.50 0.62 0.83 0.93 0.74() (11.73) (19.00) 3.78 4.93 8.81 3.88() (14.35) (24.66) 3.99 5.60 10.61 4.70

    (11.75) (4.17) 1.73 9.66 4.39 1.50() (12.79) (19.99) 3.68 7.95 14.65 6.70() (50.63) (38.91) 4.64 5.46 9.02 9.12

    ()- (1.72) (2.43) 0.44 0.67 1.38 0.65() (33.03) (64.14) 85.55 82.72 101.90 (41.56)() (80.37) (68.70) (41.17) (2.71) 32.45 26.42 () (7.43) (13.82) 8.95 10.35 15.18 (10.27) (0.06) (2.39) 9.09 2.77 5.49 0.47

    0.95 0.87 1.44 1.02 1.04 1.03

  • 58

    :

    1. (1) (2)

    2. (1) (2) (3)

    3. (1)()

    () (2)365 (3) (4)()

    () (5)365 (6) (7)

    4. (1) (2) (3) (4)

    5. (1) (2)(

    ) (3)()(

    ) 6.

    (1)() (2) ()

  • 59

    () 10 1 1.

    98 97

    213,881 20 134,573 15 79,308 58.93 26,902 3 62,773 7 (35,871) (57.14)

    161,788 15 91,874 10 69,914 76.10

    98 NB Camera

    97 14,607 1 53 - 14,554 27,460.38

    - - 11,863 1 (11,863) (100.00)

    98

    - - 37,818 4 (37,818) (100.00) 98 98

    82,910 8 31 - 82,879 267,351.61 97

    101,611 10 44,556 3 57,055 128.05 98

    21,107 2 31,797 3 (10,690) (33.62)

  • 60

    2.

    98 97

    952,890 100 762,930 100 189,960 24.90

    98 NB Camera 97

    761,216 80 556,684 73 204,532 36.74

    98 73% 80%

    28,233 3 59,823 8 (31,590) (52.81)

    98 97

    68,804 7 13,900 2 54,904 394.99 98

    2,320 - 24,516 3 (22,196) (90.54) 97

    94,717 10 49,207 7 45,510 92.49 98

  • 61

    ()()

    ()() 65~156

    () 157~217

    ()

    ()

    ()

    () ()

  • 62

    ()

    98 97

    % ( 1) 425,957 297,905 128,052 42.98

    464,164 429,321 34,843 8.12

    139,191 162,897 (23,706) (14.55)

    7,954 14,038 (6,084) (43.34)

    13,415 18,082 (4,667) (25.81)

    1,050,681 922,243 128,438 13.93

    ( 2) 162,502 105,449 57,053 54.10

    27,549 35,555 (8,006) (22.52)

    12,600 8,343 4,257 51.02

    ( 2) 202,651 149,347 53,304 35.69

    642,695 619,000 23,695 3.83

    75,907 75,000 907 1.21

    ( 3) 108,321 47,099 61,222 129.99

    ( 4) 21,107 31,797 (10,690) (33.62)

    848,030 772,896 75,134 9.72

    ( 20%) 1

    () 2. 97 98

    98 98 97 98

    3. 98 4.

  • 63

    () 1.

    98 97 ()()

    959,223 765,469 193,754 25.31 6,333 2,539 3,794 149.43 952,890 762,930 189,960 24.90 761,216 556,684 204,532 36.74() 191,674 206,246 (14,572) (7.07) 163,441 146,423 17,018 11.62 28,233 59,823 (31,590) (52.81) 68,804 13,900 54,904 394.99 2,320 24,516 (22,196) (90.54) 94,717 49,207 45,510 92.49 8,735 7,538 1,197 15.88 85,982 41,669 44,313 106.35

    ( 20%)

    1.98 NB Camera 97

    2.98 73% 80%

    3. 98 97 4. 98 5. 98

    2.

  • 64

    1.

    98 97

    () 101.90 82.72 23.19%() 32.45 (2.71) (1,297.42%)() 15.18 10.35 46.67%

    98

    97

    2.

    3.

    213,881 2,221 341,662 (125,560) - 1,168,286

    1.

    2. 3. 98

    98

    Newmacro

    International

    Co., Ltd.

    50,855

    -

  • 65

    (96)0524,2190.07

  • 66

    0940100754 0950103298

  • :

    ()

    67

    97.12.31 96.12.31

    1100 $ 134,573 15 172,502 22 1120 (()) 62,773 7 4,438 -1150 () 91,874 10 63,844 8 1180 () - - 85,974 11 1190 1,292 - 1,101 -1280

    (()) 7,393 1 6,159 1 297,905 33 334,018 42

    1421 (()) 429,321 47 330,031 41 1480

    (()) - - 250 - 429,321 47 330,281 41

    (()) 1501 27,201 3 - -1521 33,591 3 - -1531 80,892 9 48,016 6 1681 17,238 2 37,888 5

    158,922 17 85,904 11 15X9 39,660 4 27,547 3 1672 43,635 5 41,554 5

    162,897 18 99,911 13 1770 (()) 6,071 - 4,561 -1788 () 7,967 - 1,023 -

    14,038 - 5,584 - 1820 3 - 1,022 -1838 6,216 1 4,252 1 1860

    (()) 11,863 1 24,087 3 18,082 2 29,361 4

    $ 922,243 100 799,155 100

    97.12.31 96.12.31

    2100 (()) $ 37,818 4 23,042 3 2120 () 9,536 1 12,757 2 2224 20,787 2 22,974 3 2270

    (()) 2,667 - - - 2280 34,641 4 19,036 2

    105,449 11 77,809 10 2420 (()) 35,555 4 - - 2810 (()) 6,918 1 4,561 1 2881

    (()) 1,425 - 2,006 - 8,343 1 6,567 1

    149,347 16 84,376 11 (()) 3110 619,000 67 600,000 75 3211 75,000 8 75,000 9 3310 2,543 1 - - 3351 44,556 5 25,430 3

    47,099 6 25,430 3 3420 (()) 31,797 3 14,349 2 772,896 84 714,779 89

    ()

    $ 922,243 100 799,155 100

  • ()

    68

    :

    97 96

    4000 4110 () $ 765,469 100 495,544 100 4190 (2,539) - (2,070) - 762,930 100 493,474 100 5000 () 556,684 73 363,850 74 206,246 27 129,624 26 (()) 6100 12,823 2 7,535 2 6200 57,940 8 46,298 9 6300 75,660 10 65,411 13 146,423 20 119,244 24 59,823 7 10,380 2 7110 () 1,004 - 2,028 - 7120 (()) - - 17,738 4 7130 (()) 581 - 581 - 7160 8,726 1 - - 7480 () 3,589 1 2,378 1 13,900 2 22,725 5 7511 (()) 1,030 - 3,171 1 7521 (()) 23,236 3 - - 7530 - - 109 - 7560 - - 6,715 1 7630 (()) 250 - 1,050 - 24,516 3 11,045 2 49,207 6 22,060 5 8111 ()(()) 7,538 1 (850) - 9600 $ 41,669 5 22,910 5

    9750 ()(()) () $ 0.79 0.67 0.42 0.44 -() $ 0.41 0.42 () () $ 0.78 0.66 0.42 0.44 -() $ 0.41 0.42

  • ()

    69

    :

    $ 520,325 20,000 - (108,415) 1,769 433,679 79,675 15,935 - - - 95,610 - (35,935) - 35,935 - - (75,000) - - 75,000 - - 75,000 75,000 - - - 150,000 - - - - 12,580 12,580 - - - 22,910 - 22,910 600,000 75,000 - 25,430 14,349 714,779 - - 2,543 (2,543) - - 16,000 - - (16,000) - - 3,000 - - (3,000) - - - - - (1,000) - (1,000) - - - - 17,448 17,448 - - - 41,669 - 41,669 $ 619,000 75,000 2,543 44,556 31,797 772,896

  • ()

    70

    :

    97 96 $ 41,669 22,910

    27,414 17,290 500 406 (581) (581) 250 1,050 - 109 () 23,236 (17,738) ()() (86,865) 34,599 63,391 - ()() (3,221) 7,763 21,434 754

    87,227 66,562

    (99,262) (77,487) - 131 (130,517) (82,180) 61,513 6,245 (9,907) (6,845) 1,019 - - 51,564

    (177,154) (108,572)

    () 14,776 (17,378) - (9,000) - 245,610 40,000 - (1,778) (14,261) (1,000) -

    51,998 204,971 () (37,929) 162,961 172,502 9,541 $ 134,573 172,502

    () $ 1,030 3,296 $ 89 42

    $ 128,330 84,228 () 2,187 (2,048) $ 130,517 82,180

    $ - 31,125 $ 2,667 -

  • 71

    ()

    ()

    9284

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    72

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    73

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    3~25 3~10 1~3 2~5

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  • ()

    74

    ()

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    (96)052

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    (92)070071072

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    75

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    (97)169(96)052

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    ()()4,5616410.01

  • ()

    76

    () 97.12.31 96.12.31

    $ 1,180 414 63,014 4,945 64,194 5,359 (1,421) (921) $ 62,773 4,438

    ()

    () 97

    %

    ()

    Newmacro International Co., Ltd.

    100 $ 505,932 429,321 (23,236)

    96

    %

    ()

    Newmacro International Co., Ltd.

    100 $ 406,670 330,031 17,738

    Newmacro International Co., Ltd.Newmax International Co., Ltd.Newmax International Co., Ltd.100%7,3506,300

    1,4252,006

    31,79714,349

  • ()

    77

    ()

    97.12.31 96.12.31 () $ - 250

    ()

    2501,05010,0009,750

    () 1,948

    9184.77%

    () 97.12.31 96.12.31

    $ 37,818 - - 21,973 - 1,069 $ 37,818 23,042 $ 161,102 127,747

    2.93%~6.61%3%~ 9.25%

    () 97.12.31

    97.04.25~112.04.241180 $ 38,222

    (2,667)

    $ 35,555

  • ()

    78

    2.39%~6.73%

    98.01.01~98.12.31 $ 2,667 99.01.01~99.12.31 2,667 100.01.01~100.12.31 2,667 101.01.01~101.12.31 2,667 102.017.01~102.12.31 2,667 103.01.01 24,887 $ 38,222

    ()

    97.12.31 96.12.31

    $ 1,964 - 5,951 5,517 7,915 5,517 4,359 4,139 12,274 9,656 997 955 11,277 8,701 (8,120) (8,701) (2,310) - 6,071 4,561 $ 6,918 4,561

    97 96

    $ 14 15 290 - (29) -

    580 - $ 855 15

  • ()

    79-

    97.12.31 96.12.31

    2.50% 3.00% 2.50% 2.50% 2.50% 3.00%

    97 96

    $ 855 15 2,886 2,545 $ 3,741 2,560

    3,466 ()

    1.()

    ()

    95.10.01 3,000 95.10.1~ 100.9.30

    95.10.1~ 97.9.30

    10 11.05

    96.12.27 2,000 96.12.27~ 102.12.27

    96.12.27~ 99.12.26

    12 11.63

    2.

    0 3.Black-Scholes

    - % - %

    1.65% 2.12%

    5 6

    4.9 11.35

  • ()

    80

    4. 97 96

    5,000,000 $ 11.28 3,000,000 $ 11.40 - - 2,000,000 12.00 - - - - - - - - 5,000,000 5,000,000 1,500,000 -

    5.

    97.12.31

    97.12.31

    3,000,000 2 11.05 1,500,000 11.05

    2,000,000 4 11.63 - -

    96.12.31

    96.12.31

    3,000,000 3 11.4 - -

    2,000,000 5 12.0 - -

    6.

    97 96

    $ 41,669 22,910 32,799 18,316 0.67 0.44 0.53 0.35 0.66 0.44 0.52 0.35

  • ()

    81

    () 1.

    95,610150,00012207,967.57,500

    75,0007,500

    16,0003,00019,0001,900

    800,000619,000600,00010

    2.

    35,935

    3.

    (1) (2) (3) (4) (5)(1)(4)

    (6)(1)(4) (7)

  • ()

    82

    12%3%4,5291,096

    16,000()3,0001,000

    4.

    ()

    () 97 96

    $ - - 7,501 (850) 37 -

    $ 7,538 (850)

    ()

    97 96 $ 12,302 5,505 37 - (2,618) (1,287) () (99) 1,364 - 10,539 - 270 (2,084) (17,241) () $ 7,538 (850)

  • ()

    83

    ()

    97 96

    $ 14,809 13,150 (148) - (5,076) 3,242 (2,084) (17,242)

    $ 7,501 (850)

    97.12.31 96.12.31 () $ 53 1,146

    $ 48,728 63,036 (36,865) (38,949) $ 11,863 24,087

    97.12.31 96.12.31

    $ - 102 211 - (366) 543 62 - 25,066 39,874 4,859 4,710 29,192 23,235 (10,599) (4,783) - 356 501 48,781 64,182 (36,865) (38,949) $ 11,916 25,233

  • ()

    84

    4,859

    94 $ 963 98 95 211 99 96 1,968 100 97 1,717 101 $ 4,859

    92 $ 4,517 102 93 41,113 103 94 41,882 104 95 12,751 105 $ 100,263

    97.12.31 96.12.31

    $ 44,556 25,430

    $ 37 - 97 96

    0.08%() -()

  • ()

    85

    ()

    97 96 $ 49,207 41,669 22,060 22,910 () 61,900 61,900 52,442 52,442 () $ 0.79 0.67 0.42 0.44 97

    () 54,103 54,103 () $ 0.41 0.42

    $ 49,207 41,669 22,060 22,910 () 61,900 61,900 52,442 52,442 450

    450 - -

    484 484 126 126 () 62,834

    62,834

    52,568

    52,568

    () $ 0.78 0.66 0.42 0.44 97

    () 54,103 54,103

    128 128 ()

    54,231 54,231 () $ 0.41 0.42

  • ()

    86

    () 1.

    97.12.31 96.12.31

    $ 134,573 134,573 172,502 172,502

    () 154,647 154,647 68,282 68,282 - - 85,974 85,974 - 1,292 1,292 1,101 1,101

    -

    (4) 250

    (4)

    3 3 1,022 1,022

    37,818 37,818 23,042 23,042 9,536 9,536 12,757 12,757 20,787 20,787 22,974 22,974() 38,222 38,222 - -

    34,641 34,641 19,036 19,036

    2. (1)

    (2)

    (3) (4)

    (5) (6)

  • ()

    87

    3.

    97.12.31 96.12.31

    $ 134,573 - 172,502 -

    () - 154,647 - 68,282

    -

    -

    - 85,974

    - 1,292

    - 1,101

    - 3 - 1,022

    - 37,818 - 23,042 - 9,536 - 12,757 - 20,787 - 22,974() - 38,222 - -

    - 34,641 - 19,036

    4. (1)

    ()59%94%

    (2)

  • ()

    88

    (3)

    1%760

    () Newmacro International Co.,

    Ltd. (Newmacro)

    Newmax International Co., Ltd. (Newmax)

    Newmacro

    ()

    Newmax

    ()

    ()()

    ()()

    Chicony Overseas, Inc.

    () 1.

    97 96

    $ 22 - 150 - 382,164 50 245,267 50 153,419 20 - - Chicony Overseas, Inc. 58,744 8 168,084 34 $ 594,349 78 413,501 84

  • ()

    89

    97.12.31 96.12.31

    $ 50,170 32 54,250 80 41,637 27 - - 74 - - - Chicony Overseas, Inc. - - 9,601 14 91,881 59 63,851 94 7 - 7 - $ 91,874 59 63,844 94

    2.

    97 96

    Newmax $ 556,684 100 363,850 100

    310 Newmax International Co., Ltd.

    3. Newmax International Co., Ltd.

    97 96 () ()

    Newmax $ 38,929 - 31,125 -

    ()6.

  • ()

    90

    1,4252,006 4.

    Newmax International Co., Ltd.2,2951,819

    5. 6,038

    6.

    96.12.31 Newmacro $ 344 Newmax 85,630

    $ 85,974

    96.12.31 0~90 91~180 180

    Newmax $ 19,359 5,071 61,200 85,630 Newmacro 32 - 312 344

    $ 85,974

    93.7.9167()61,512

    7. (

    61,512) 96

    %

    Newmax $ 101,342 61,200 0~3 1,154 -

    Newmacro 9,622 312 0~3 232 - $ 110,964 61,512 736 -

  • ()

    91

    96

    %

    $ 3,000 - 3 14 -

    6,000 - 3 29 -

    $ 9,000 - 43 -

    8. Newmax

    115,936 ()

    97.12.31 96.12.31

    $ 6,736 6,468 240 213 453 300

    $ 7,429 6,981

    ()

    97.12.31 96.12.31 $ 37,818 27,382 27,201 - 32,597 - - 1,589 $ 97,616 28,971

    8,467

  • ()

    92

    97 96

    - 68,119 68,119 - 56,956 56,956 - 3,992 3,992 - 3,526 3,526 - 3,741 3,741 - 2,560 2,560 - 1,885 1,885 - 1,623 1,623 - 12,345 12,345 - 13,215 13,215 - 15,069 15,069 - 4,075 4,075

    () 1.

    (1)

    (2) - - - - - - - - -

    1 Newmacro International Co., Ltd.

    -

    312 - 0~3%

    -

    - - 231,869 309,158

    2 Newmax International Co., Ltd.

    -

    61,200 - 0~3%

    556,684 - - 231,869 309,158

    130% 240%

    2.

    (1)

    (2)1 Newmax International

    Co., Ltd. 309,158 115,936 115,936 - 15.00 % 386,448

    140% 250%

  • ()

    93

    3.

    Newmacro International Co., Ltd.

    15,400 429,321 100.00 429,321

    ()

    -

    500 - 6.25 188

    4.

    5. 6. 7.

    ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    556,684 100 % - 31 - %

    (

    )

    382,164 50 % 60 - 50,170 32 %

    (

    )

    153,419 20 % 60 - 41,637 27 %

    8. 9.

    () 1....

    /

    Newmacro International Co., Ltd.

    505,932 406,670 15,400 100.00% 429,321 (25,476) (23,236)

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    USD15,400 USD12,400 15,400 100.00% USD 13,059 USD (819)

    USD (819)

    Newmax International Co., Ltd.

    USD 7,350 USD 6,300 100.00%

    USD 9,551 USD (394) USD (394)

  • ()

    94

    2.

    1 Newmax International Co., Ltd.

    -

    34,584 - 0~3%

    522,966 - - 231,869(1)

    309,158 (2)

    130% 240%

    3.

    1 Newmax International Co., Ltd.

    309,158 115,936 115,936 - 15.00 % 386,448

    140% 250%

    4. /

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    15,400 USD 13,059 100.00 USD 13,059

    1

    Newmax International Co., Ltd.

    2 USD 9,551 100.00 USD 9,551 1

    1 2

    5.

    6. 7. 8.

    ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    522,966 100 % - 55,882 100 %

  • ()

    95

    9. 10.

    () 1.

    239,133 (US$

    7,350)

    204,391(US$ 6,300)

    34,742(US$ 1,050)

    - 239,133(US$ 7,350)

    100 % NT$ (12,437)(US$ 394)

    313,846(US$ 9,551)

    -

    2.

    $ 239,133 (US$ 7,350 )

    $ 270,536 (US$ 8,700 )

    $ 463,738

    3.

    ()

    ()

    ()

    97 96 % %

    $ 730,113 100 488,237 99

  • ()

    96

    () 10%

    97 96 % %

    $ 382,164 50 245,267 50 153,419 20 - -Chicony Overseas, Inc. 58,744 8 168,084 34 $ 594,327 78 413,351 84

  • 97

    (96)0524,2190.07

  • 98

    0940100754 0950103298

  • :

    ()

    99

    98.12.31 97.12.31

    1100 $ 213,881 20 134,573 151120 (()) 26,902 3 62,773 71150 () 161,788 15 91,874 101190 827 - 1,292 - 1286 (()) 14,607 1 53 - 1298 7,952 1 7,340 1

    425,957 40 297,905 33 1421 (

    ()) 464,164 44 429,321 47

    1480 (()) - - - -

    464,164 44 429,321 47 (()) 1501 25,360 3 27,201 31521 31,888 3 33,591 31531 100,055 10 80,892 91681 17,531 2 17,238 2

    174,834 18 158,922 1715X9 47,542 5 39,660 41672 11,899 1 43,635 5

    139,191 14 162,897 18 1770 (()) 5,111 1 6,071 - 1788 () 2,843 - 7,967 -

    7,954 1 14,038 - 1820 726 - 3 - 1838 () 12,689 1 6,216 11860

    (()) - - 11,863 1 13,415 1 18,082 2

    $ 1,050,681 100 922,243 100

    98.12.31 97.12.31

    2100 (()) $ - - 37,818 4 2120 10,006 1 9,505 1 2150 () 82,910 8 31 - 2224 22,282 2 20,787 2 2270

    (()) 2,667 - 2,667 - 2280 44,637 4 34,641 4

    162,502 15 105,449 11 2420 (()) 27,549 3 35,555 4 2810 (()) 6,884 1 6,918 1 2861

    (()) 4,872 - - - 2881

    (()) 844 - 1,425 - 12,600 1 8,343 1

    202,651 19 149,347 16 (()) 3110 632,950 60 619,000 67 3140 9,745 1 - -

    642,695 61 619,000 67 3211 75,907 7 75,000 8 3310 6,710 1 2,543 1 3351 101,611 10 44,556 5

    108,321 11 47,099 6 3420 (()) 21,107 2 31,797 3 848,030 81 772,896 84

    ()

    $ 1,050,681 100 922,243 100

  • ()

    100

    :

    98 97

    4000 4110 () $ 959,223 101 765,469 100 4190 (6,333) (1) (2,539) - 952,890 100 762,930 100 5000 () 761,216 80 556,684 73 191,674 20 206,246 27 (()) 6100 17,088 2 13,126 2 6200 59,484 6 55,445 7 6300 86,869 9 77,852 10 163,441 17 146,423 19 28,233 3 59,823 8 7110 417 - 1,004 - 7120 (()) 50,855 5 - - 7130 (()) 8,814 1 581 - 7160 322 - 8,726 1 7480 () 8,396 1 3,589 1 68,804 7 13,900 2 7511 (()) 1,189 - 1,030 - 7521 (()) - - 23,236 3 7530 1,131 - - - 7630 (()) - - 250 - 2,320 - 24,516 3 94,717 10 49,207 7 8110 (()) 8,735 1 7,538 1 9600 $ 85,982 9 41,669 6

    9750 ()(()) $ 1.52 1.38 0.79 0.67 9850 ()(()) $ 1.48 1.34 0.78 0.66

  • ()

    101

    :

    $ 600,000 - 75,000 - 25,430 14,349 714,779

    - - - 2,543 (2,543) - - 16,000 - - - (16,000) - - 3,000 - - - (3,000) - - - - - - (1,000) - (1,000)

    - - - - - 17,448 17,448 - - - - 41,669 - 41,669 619,000 - 75,000 2,543 44,556 31,797 772,896 - - - 4,167 (4,167) - - - - - - (24,760) - (24,760) 13,950 9,745 907 - - - 24,602 - - - - - (10,690) (10,690) - - - - 85,982 - 85,982 $ 632,950 9,745 75,907 6,710 101,611 21,107 848,030

  • ()

    102

    :

    98 97

    $ 85,982 41,669

    34,233 27,414 - 500 (581) (581) - 250 (7,102) - () (50,855) 23,236 () (34,043) (86,865) - 63,391 ()() 118,588 (3,221) 19,374 21,434

    165,596 87,227

    - (99,262) (15,900) (9,907) 17,314 - (39,901) (130,517) - 61,513 () (723) 1,019

    (39,210) (177,154)

    () (37,818) 14,776 24,602 - (24,760) - - 40,000 (8,006) (1,778) (1,096) (1,000)

    () (47,078) 51,998 () 79,308 (37,929) 134,573 172,502 $ 213,881 134,573

    () $ 1,189 1,030 $ 1,302 89

    $ 41,396 128,330 () (1,495) 2,187 $ 39,901 130,517

    $ 2,667 2,667 $ 21,371 14,070

  • 103

    ()

    ()

    9692

    ()

    ()

    ()

    1. 2.

  • ()

    104

    3. 4.

    1. 2. 3.

    ()

    ()

    ()

    ()

    ()

  • ()

    105

    ()

    ()

    3~25 3~10 1~5

    ()

    :

    2~5 3 1

    ;

    :

    1. 2. 3. 4. 5. 6.

    ()

  • ()

    106

    ()

    ()

    () ()

    (96)052

    ()

    (92)070071072

  • ()

    107

    ()

    ()

    ()

    ()

    ()

    (97)169(96)052

  • ()

    108

    7360.01

    (96)052

    4,2190.07

    () 98.12.31 97.12.31

    $ 340 27,777 63,014 28,117 64,194 (1,215) (1,421) $ 26,902 62,773

    ()

    () 98

    %

    Newmacro International Co., Ltd.

    100 $ 505,932 464,164 50,855

    97

    %

    Newmacro International Co., Ltd.

    100 $ 505,932 429,321 (23,236)

  • ()

    109

    Newmacro International Co., Ltd.Newmax International Co., Ltd.Newmax International Co., Ltd.100%7,350

    8441,425

    21,10731,797

    ()

    ()

    25010,000

    () 1,948

    9184.77%

    () 98.12.31 97.12.31

    $ - 37,818 $ 312,318 161,102

    1.33%~2.93%2.93% ~6.61%

  • ()

    110

    () 98.12.31 97.12.31 97.04.25~112.04.24

    1180 $ 30,216 38,222

    (2,667) (2,667) $ 27,549 35,555

    1.85%~2.39%2.39%~6.73%

    99.01.01~99.12.31 $ 2,667 100.01.01~100.12.31 2,667 101.01.01~101.12.31 2,667 102.01.01~102.12.31 2,667 103.01.01~103.12.31 2,667 104.01.01 16,881 $ 30,216

    ()

    98.12.31 97.12.31

    $ - 1,964 7,912 5,951 7,912 7,915 7,193 4,359 15,105 12,274 1,028 997 14,077 11,277 (7,540) (8,120) (4,764) (2,310) 5,111 6,071 $ 6,884 6,918

  • ()

    111

    98 97

    $ 16 14 307 290 (25) (29)

    637 580 $ 935 855

    98.12.31 97.12.31

    2.25% 2.50% 2.50% 2.50% 2.25% 2.50%

    98 97

    $ 935 855 3,109 2,886 $ 4,044 3,741

    03,466

    () 1.()

    ()

    95.10.01 3,000 95.10.1~ 100.9.30

    95.10.1~ 97.9.30

    10 10.65

    96.12.27 2,000 96.12.27~ 102.12.27

    96.12.27~ 99.12.26

    12 11.23

    2.

    0

  • ()

    112

    3.Black-Scholes

    - % - %

    1.65% 2.12%

    5 6

    4.9 11.35

    4. 98 97

    5,000,000 $ 10.88 5,000,000 $ 11.28 - - - - 2,310,000 10.65 - - 105,000 - - - 2,585,000 5,000,000 585,000 1,500,000

    5.

    98.12.31

    98.12.31

    585,000 1.75 10.65 585 10.65

    2,000,000 4 11.23 - -

    97.12.31

    97.12.31

    3,000,000 2.75 11.05 1,500 11.05

    2,000,000 5 11.63 - -

  • ()

    113

    6.

    98 97

    $ 85,982 41,669 79,638 32,799 1.38 0.67 1.27 0.53 1.35 0.66 1.25 0.52

    () 1.

    16,0003,00019,0001,900

    800,000632,950619,00010

    2,310915 2.

    3.

    (1) (2) (3) (4) (5)(1)(4)

    (6)(1)(4)

  • ()

    114

    (7)

    12% 3%9,2864,5292,3221,096

    97 96

    (0.4) $ 24,760 -(0.267) - 16,000 1,096 1,000 4,529 - - 3,000 $ 30,385 20,000

    4.

    ()

  • ()

    115

    98 97

    $ 1,231 - 6,230 7,501 1,274 37

    $ 8,735 7,538

    98 97 $ 23,679 12,302 1,274 37 - (2,618) 1,231 - (560) (99) 6,346 - (23,235) (2,084) $ 8,735 7,538

    98 97 $ 11,476 14,809 - (148) 9,314 (5,076) (23,235) (2,084) 8,675 -

    $ 6,230 7,501

    ()

    98.12.31 97.12.31

    $ 14,607 53

    $ 14,034 59,327 (13,630) (36,865) 404 22,462 (5,276) (10,599) () $ (4,872) 11,863

  • ()

    116

    98.12.31 97.12.31

    $ 354 211 () 47 (366) 50 62 10,807 25,066 3,584 4,859 13,630 29,192 (5,276) (10,599) 169 356 23,365 48,781 (13,630) (36,865) $ 9,735 11,916

    3,584

    95 $ 143 99 96 1,724 100 97 1,717 101 $ 3,584

    94 $ 41,285 104 95 12,751 105 $ 54,036

  • ()

    117

    98.12.31 97.12.31

    $ 101,611 44,556

    $ 1,231 - 98 97

    1.21% () -% ()

    ()

    98 97 $ 94,717 85,982 49,207 41,669 () 62,491 62,491 61,900 61,900 () $ 1.52 1.38 0.79 0.67

    $ 94,717 85,982 49,207 41,669 () 62,491 62,491 61,900 61,900 886 886 450 450

    761 761 484 484 () 64,138 64,138

    62,834

    62,834

    () $ 1.48 1.34 0.78 0.66

  • ()

    118

    () 1.

    98.12.31 97.12.31

    $ 213,881 213,881 134,573 134,573

    () 188,690 188,690 154,647 154,647 827 827 1,292 1,292

    -

    (3) -

    (3) 726 726 3 3

    - - 37,818 37,818

    () 92,916 92,916 9,536 9,536 22,282 22,282 20,787 20,787 37,332 37,332 26,847 26,847

    () 30,216 30,216 38,222 38,222

    2. (1)

    ()

    (2)

    (3)

    (4) (5)

  • ()

    119

    3.

    98.12.31 97.12.31

    $ 213,881 - 134,573 -

    () - 188,690 - 154,647 - 827 - 1,292 726 - 3 -

    - - - 37,818

    () - 92,916 - 9,536 - 22,282 - 20,787 - 37,332 - 26,847

    () - 30,216 - 38,222

    4. (1)

    ()86%59%

    (2)

    (3)

    1%302760

  • ()

    120

    () Newmacro International Co.,

    Ltd. (Newmacro)

    Newmax International Co., Ltd. (Newmax)

    Newmacro

    ()

    Newmax

    ()

    ()()

    ()()

    () Chicony Overseas, Inc.

    () 1.

    98 97

    $ - - 22 - 533,534 56 382,164 50 244,720 26 - - 41,318 4 153,419 20 Chicony Overseas, Inc. - - 58,744 8 $ 819,572 86 594,349 78

  • ()

    121

    98.12.31 97.12.31

    $ 77,928 41 50,170 32 83,791 45 - - - - 41,637 27 69 - 74 -

    161,788 86 91,881 59 - - 7 - $ 161,788 86 91,874 59

    2.

    98 97

    Newmax $ 761,216 100 556,684 100

    Newmax International Co., Ltd.

    98.12.31 97.12.31

    Newmax $ 82,910 89 31 -

  • ()

    122

    3. Newmax International Co., Ltd.

    98 97 () ()

    Newmax $ 35,208 - 38,929 -

    8441,425 4.

    Newmax International Co., Ltd.1,9212,995

    5. 6,038

    6.

    97

    %

    Newmax $ 61,200 - - - - Newmacro 312 - - - - $ 61,512 - - -

    7.

    Newmax210,743115,936

  • ()

    123

    ()

    98.12.31 97.12.31

    $ 8,131 6,736 222 240 929 453

    $ 9,282 7,429

    ()

    98.12.31 97.12.31 $ - 37,818 25,360 27,201 29,086 32,597 $ 54,446 97,616

    5,926

  • ()

    124

    () 98 97

    - 80,556 80,556 - 68,119 68,119 - 4,564 4,564 - 3,992 3,992 - 4,044 4,044 - 3,741 3,741 - 1,991 1,991 - 1,885 1,885 - 13,819 13,819 - 12,345 12,345 - 20,414 20,414 - 15,069 15,069

    ()

    () 1. 2.

    (1)

    (2)1 Newmax International

    Co., Ltd. 339,212 210,743 210,743 - 24.85 % 424,015

    140% 250%

    3.

    Newmacro International Co., Ltd.

    15,400 464,164 100.00 464,

    ()

    -

    500 - 6.25 -

    4.

    5. 6.

  • ()

    125

    7. ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    761,216 100 % - (82,910) 89 %

    (

    )

    533,534 56 % 60 - 77,928 41 %

    (

    )

    244,720 26 % 60 - 83,791 45 %

    8. 9.

    () 1....

    /

    Newmacro International Co., Ltd.

    505,932 505,932 15,400 100.00% 464,164 50,855 50,855

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    USD15,400 USD15,400 15,400 100.00% USD 14,504 USD 1,540

    USD 1,540

    Newmax International Co., Ltd.

    USD 7,350 USD 7,350 100.00%

    USD 10,074 USD 618 USD 618

    2. 3.

    1 Newmax International Co., Ltd.

    339,212 210,743 210,743 - 24.85 % 424,015

    140% 250%

    4. /

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    15,400 USD 14,504 100.00 USD 14,504 1

    Newmax International Co., Ltd.

    2 USD 10,074 100.00 USD 10,074 1

    1 2

  • ()

    126

    5.

    6. 7. 8.

    ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    676,285 100 % - 36,475 32 %

    Newmax International Co., Ltd.

    761,216 100 % - 82,910 100 %

    9. 10.

    () 1.

    $239,133 (US$ 7,350)

    $239,133 (US$ 7,350)

    - - $239,133(US$ 7,350)

    100 % $ 20,419(US$ 618)

    $322,267(US$10,074)

    -

    2.

    $ 239,133 (US$ 7,350 )

    $ 270,536 (US$ 8,700 )

    $ 508,818

    3.

  • ()

    127

    ()

    ()

    ()

    98 97 % %

    $ 918,749 96 730,113 96

    () 10%

    98 97 % %

    $ 533,534 56 382,164 50 244,720 26 - - 41,318 4 153,419 20Chicony Overseas, Inc. - - 58,744 8 $ 819,572 86 594,327 78

  • 128

    1,6100.03

    0940100754 0950103298

  • :

    ()

    129

    99.6.30 98.6.30

    1100 (()) $ 465,149 33 170,937 17 1140 (()) 73,065 5 46,620 4 1150 () 142,602 10 217,926 21 1190 () 35,005 2 836 - 1286

    (()) 10,194 1 1,737 - 1298 8,442 1 6,774 1

    734,457 52 444,830 43 1421 (()) 508,243 36 407,134 40 1480

    (()) - - - - 508,243 36 407,134 40

    (()) 1501 25,360 2 25,360 2 1521 32,458 2 29,539 3 1531 100,970 7 82,317 8 1681 20,952 2 19,803 2

    179,740 13 157,019 15 15X9 55,744 4 44,745 4 1672 12,583 1 31,793 3

    136,579 10 144,067 14 1770 5,111 1 6,071 1 1788 () 3,982 - 4,182 -

    9,093 1 10,253 1 1820 726 - 683 - 1830 17,411 1 8,696 1 1860

    (()) - - 11,309 1 18,137 1 20,688 2

    $ 1,406,509 100 1,026,972 100

    99.6.30 98.6.30

    2100 (()) $ 80,264 6 66,524 6 2120 12,377 1 6,319 1 2150 () 3,588 - 82,378 8 2216 (()) 43,990 3 24,760 2 2224 20,910 1 13,802 1 2270

    (()) 2,667 - 2,667 - 2170 39,242 3 35,292 4

    203,038 14 231,742 22 2420 (()) 26,215 2 28,882 3 2810 (()) 5,413 - 7,385 1 2861

    (()) 6,221 1 - - 2881

    (()) 553 - 1,134 - 12,187 1 8,519 1

    241,440 17 269,143 26 (()) 3110 777,150 55 619,000 60 3211 289,464 21 75,000 7 3310 15,308 1 6,710 1 3351 52,358 4 26,765 3

    67,666 5 33,475 4 3420 (()) 30,789 2 30,354 3 1,165,069 83 757,829 74

    ()

    $ 1,406,509 100 1,026,972 100

  • ()

    130

    :

    99 98

    4000 4111 () $ 520,812 100 395,403 101 4190 (1,814) - (2,090) (1) 518,998 100 393,313 100 5110 () 418,177 81 308,686 79 100,821 19 84,627 21 (()) 6100 7,353 1 8,258 2 6200 31,351 6 26,037 7 6300 50,458 10 36,798 9 89,162 17 71,093 18 11,659 2 13,534 3 7110 472 - 232 - 7120 (()) 33,369 6 - - 7130 (()) 291 - 8,244 2 7160 3,659 1 2,886 - 7480 () 3,002 1 6,655 3 40,793 8 18,017 5 7511 356 - 713 - 7520 (()) - - 17,733 5 7530 39 - 88 - 395 - 18,534 5 52,057 10 13,017 3 8111 (()) 4,732 1 1,881 - 9600 $ 47,325 9 11,136 3

    9750 ()(()) $ 0.72 0.65 0.21 0.18 -() $ 0.20 0.17 9850 ()(()) $ 0.70 0.64 0.21 0.18 -() $ 0.20 0.17

  • ()

    131

    :

    $ 619,000 - 75,000 2,543 44,556 31,797 772,896 - - - - 11,136 - 11,136 () - - - 4,167 (4,167) - - - - - - (24,760) - (24,760) - - - - - (1,443) (1,443) $ 619,000 - 75,000 6,710 26,765 30,354 757,829

    $ 632,950 9,745 75,907 6,710 101,611 21,107 848,030 86,260 - 212,650 - - - 298,910 13,950 (9,745) 907 - - - 5,112 - - - - 47,325 - 47,325 () - - - 8,598 (8,598) - - - - - - (43,990) - (43,990) 43,990 - - - (43,990) - - - - - - - 9,682 9,682 $ 777,150 - 289,464 15,308 52,358 30,789 1,165,069

    2,3211,0979,2864,529

  • ()

    132

    :

    99 98 $ 47,325 11,136 8,451 6,632 8,697 11,220 () (33,369) 17,733 () 39 (7,865) () (46,163) 16,153 () 19,186 (126,052) () (490) 566 () (34,178) 456 4,732 1,881 2,371 (3,186) () (53,829) 98,549 () (5,395) 651 () (1,471) 467 (291) (291) () (84,385) 28,050 (26,242) (23,987) 41 16,601 - (680) (18,906) (5,578) (2,192) (75) (47,299) (13,719) 80,264 28,706 (1,334) (6,673) 298,910 - 5,112 - 382,952 22,033 251,268 36,364 213,881 134,573 $ 465,149 170,937 $ 356 713 $ 28 57 $ 2,667 2,667 $ 9,408 9,529 $ 43,990 24,760 $ 9,717 10,935 $ 25,044 17,002 1,372 6,985 (174) - $ 26,242 23,987

  • 133

    ()

    ()

    11190

    ()

    ()

    ()

    1. 2.

  • ()

    134

    3. 4.

    1. 2. 3.

    ()

    ()

    ()

    ()

    ()

    ()

  • ()

    135

    ()

    3~25 3~10 1~5

    ()

    :

    2~5 3

    ;

    :

    1. 2. 3. 4. 5. 6.

    ()

  • ()

    136

    ()

    ()

    () (96)052

    ()

    (92)070071072

  • ()

    137

    ()

    ()

    ()

    ()

    (97)169(96)052

  • ()

    138

    1,6100.03

    () 99.6.30 98.6.30

    $ 50 50 201,387 71,924 128,391 61,629 2,410 2,634 102,950 34,700 435,188 170,937 29,961 - $ 465,149 170,937

    () 99.6.30 98.6.30

    $ 111 - 73,900 48,041 74,011 48,041 (946) (1,421) $ 73,065 46,620

    ()

    () 99

    %

    Newmacro International Co., Ltd.

    100

    $ 505,932 508,243 33,369

  • ()

    139

    98

    %

    Newmacro International Co., Ltd.

    100

    $ 505,932 407,134 (17,733)

    Newmacro International Co., Ltd.Newmax International Co., Ltd.Newmax International Co., Ltd.100%7,350

    5531,134

    30,78930,354

    ()

    ()

    10,000 ()

    () 99.6.30 98.6.30

    $ 32,150 - 48,114 66,524 $ 80,264 66,524 $ 218,963 176,741

    1.10%~1.35%1.39%~2.93%

  • ()

    140

    () 99.6.30 98.6.30 97.04.25~112.04.241

    180 $ 28,882 31,549

    (2,667) (2,667) $ 26,215 28,882

    1.85%~2.35%1.94%~2.39%

    99.07.01~100.06.30 $ 2,667 100.07.01~101.06.30 2,667 101.07.01~102.06.30 2,667 102.07.01~103.06.30 2,667 103.07.01~104.06.30 2,667 104.07.01 15,547 $ 28,882

    ()

    99 98

    $ 530 472 1,682 1,510 $ 2,212 1,982 99.6.30 98.6.30

    $ 3,046 1,024 $ 5,413 7,385

  • ()

    141

    () 1.()

    ()

    95.10.01 3,000 95.10.1~ 100.9.30

    95.10.1~ 97.9.30

    10 -

    96.12.27 2,000 96.12.27~ 102.12.27

    96.12.27~ 99.12.26

    12 10.03

    2.

    0 3.Black-Scholes

    - % - %

    1.65% 2.12%

    5 6

    4.9 11.35

    4. 99 98

    2,585,000 $ 10.65 5,000,000$ 10.88 - - - - 480,000 10.65 - - 105,000 - - - 2,000,000 5,000,000 - 1,500,000

  • ()

    142

    5.

    99.06.30

    99.06.30

    2,000,000 3.5 10.03 - -

    98.06.30

    98.06.30

    3,000,000 2.25 10.65 1,500,000 10.65

    2,000,000 4.5 11.23 - -

    6.

    99 98

    $ 47,325 11,136 44,577 7,964 0.65 0.18 0.62 0.13 0.64 0.18 0.60 0.13

    () 1.

    8,62635298,910

    43,9904,399

    2,790 1,500,000

    800,000777,150619,00010

  • ()

    143

    2.

    3.

    (1) (2) (3) (4) (5)(1)(4)

    (6)(1)(4) (7)

    13%12%3%5,5371,2031,278300

    98 97 (0.6) $ 43,990 -(0.60.4) 43,990 24,760 2,321 1,097 9,286 4,529 $ 99,587 30,386

  • ()

    144

    4.

    ()

    99 98

    $ - - 4,732 607 - 1,274

    $ 4,732 1,881

    99 98

    $ 8,850 3,254 - 1,274 (153) (560) (7,717) (9,517) 3,752 7,430 $ 4,732 1,881

    99 98

    $ 2,307 8,565 (52) - 6,442 (4,696) (7,717) (9,517) 3,752 6,255

    $ 4,732 607

  • ()

    145

    ()

    99.6.30 98.6.30

    $ 10,194 1,737

    $ 5,998 46,245 (5,913) (27,348) 85 18,897 (6,306) (7,588) () $ (6,221) 11,309

    99.6.30 98.6.30

    $ 46 - 43 263 () (468) 374 42 50 6,886 16,136 3,636 3,584 5,913 27,348 (6,306) (7,588) 94 227 9,886 40,394 (5,913) (27,348) $ 3,973 13,046

  • ()

    146

    3,636

    96 $ 1,724 100 97 1,717 101 98 195 102 $ 3,636

    94 $ 27,754 104 95 12,751 105 $ 40,505

    99.6.30 98.6.30

    $ 52,358 26,765

    $ 1,231 - 98 97

    1.21% () -% ()

  • ()

    147

    ()

    99 98 $ 52,057 47,325 13,017 11,136 () 72,308 72,308 61,900 61,900 () $ 0.72 0.65 0.21 0.18 98

    () 66,109 66,109 () $ 0.20 0.17 $ 52,057 47,325 13,017 11,136 () 72,308 72,308 61,900 61,900

    100 100

    10 10 1,905 1,905 601 601

    () 74,313 74,313

    62,511

    62,511 () $ 0.70 0.64 0.21 0.18 98

    () 66,109 66,109

    10 10 601 601

    ()

    66,720 66,720 () $ 0.20 0.17

  • ()

    148

    () 1.

    99.6.30 98.6.30

    $ 465,149 465,149 170,937 170,937

    () 215,667 215,667 264,546 264,546 35,005 35,005 836 836

    -

    (3) -

    (3) 726 726 683 683

    80,264 80,264 66,524 66,524

    () 15,965 15,965 88,697 88,697 20,910 20,910 13,802 13,802 43,990 43,990 24,760 24,760 30,353 30,353 26,061 26,061

    () 28,882 28,882 31,549 31,549

    2. (1)

    ()

    (2)

    (3)

    (4) (5)

  • ()

    149

    3.

    99.6.30 98.6.30

    $ 435,188 29,961 170,937 -

    () - 215,667 - 264,546 - 35,005 - 836 - 726 - 683

    - 80,264 - 66,524

    () - 15,965 - 88,697 - 20,910 - 13,802 - 43,990 - 24,760 - 30,353 - 26,061

    () - 28,882 - 31,549

    4. (1)

    ()66%82%

    (2)

  • ()

    150

    (3)

    1%1,091

    () Newmacro International Co., Ltd.

    (Newmacro)

    Newmax International Co., Ltd. (Newmax)

    Newmacro

    () Newmax () ()() ()() ()

    () 1.

    99 98

    $ 228,720 44 221,324 56

    178,373 34 55,440 14

    - - 41,237 11

    $ 407,093 78 318,001 81

  • ()

    151

    99.6.30 98.6.30

    $ 60,318 28 146,967 55 82,233 38 55,416 21 - - 15,502 6 51 - 48 -

    142,602 66 217,933 82 - - 7 - $ 142,602 66 217,926 82

    2.

    99 98

    Newmax $ 417,793 100 308,686 100

    Newmax International Co., Ltd.

    99.6.30 98.6.30

    Newmax $ 3,588 22 82,378 93

  • ()

    152

    3. Newmax International Co., Ltd.

    99 98 () ()

    Newmax $ 25,656 - 16,202 -

    5531,134 4.

    Newmax International Co., Ltd.1,455928

    5. 6,038

    6.

    290,679132,069

    99.6.30 98.6.30

    Newmax $ 242,454 132,069 48,225 - $ 290,679 132,069

    99.6.30 98.6.30

    Newmax $ 242,454 -

  • ()

    153

    99.6.30 98.6.30 (-)

    $ 33,799 -

    75,239 96,564 25,360 25,360 28,474 27,835 $ 162,872 149,759

    2,406

    99 98

    - 44,239 44,239 - 31,871 31,871 - 2,552 2,552 - 2,211 2,211 - 2,212 2,212 - 1,982 1,982 - 1,072 1,072 - 971 971 - 8,451 8,451 - 6,632 6,632 - 8,697 8,697 - 11,220 11,220

    () 1.

  • ()

    154

    2.

    (1)

    (2)1 Newmax International

    Co., Ltd. 466,028 242,454 242,454 - 20.81 % 582,535

    2

    466,028 48,225 48,225 - 4.14 % 582,535

    140% 250%

    3.

    Newmacro International Co., Ltd.

    15,400 508,243 100.00 508,2

    ()

    -

    125 - 2.08 -

    4.

    5. 6. 7.

    ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    417,793 100 % - (3,588) 22 %

    (

    )

    228,720 44 % 60 - 60,318 28 %

    (

    )

    178,373 34 % 60 - 82,233 38 %

    8. 9.

  • ()

    155

    () 1....

    /

    Newmacro International Co., Ltd.

    505,932 505,932 15,400 100.00% 508,243 33,369 33,369

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    USD15,400 USD15,400 15,400 100.00% USD 15,803 USD 1,046 USD 1,046

    Newmax International Co., Ltd.

    USD 7,350 USD 7,350 100.00%

    USD 10,829 USD 502 USD 502

    2. 3.

    1 Newmax International Co., Ltd.

    466,028 242,454 242,454 - 20.81 % 582,535

    140% 250%

    4. /

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    15,400 USD 15,803 100.00 USD 15,803 1

    Newmax International Co., Ltd.

    2 USD 10,829 100.00 USD 10,829 1

    1 2

    5.

    6. 7.

  • 156

    8. ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    370,406 100 % - - - %

    Newmax International Co., Ltd.

    417,793 100 % - 3,588 7 %

    9.

    - - - - - Newmax International Co., Ltd.

    297,333 - 53,657 -

    10. ()

    1.

    $239,133 (US$ 7,350)

    $239,133(US$ 7,350)

    - - $239,133(US$ 7,350)

    100 % $ 16,012(US$ 502)

    $348,152 US$10,829)

    -

    2.

    $ 239,133 (US$ 7,350 )

    $ 270,536 (US$ 8,700 )

    $ 699,041

    3.

  • 157

    (96)0524,2190.07

    0940100754 0950103298

  • :

    ()

    158

    98.12.31 97.12.31

    1100 $ 275,754 25 178,926 17 1143 (()) 28,040 3 75,744 7 1150 () 166,260 15 92,739 9 1190 9,715 1 12,921 1 1210 (()) 49,415 4 82,763 8 1286 (()) 14,607 1 53 - 1298 8,759 1 7,565 1

    552,550 50 450,711 43 1480

    (()) - - - -

    (()) 1501 25,360 2 27,201 3 1521 31,888 3 33,591 3 1531 612,309 55 590,858 55 1537 46,456 4 40,866 4 1631 92,681 8 88,353 8 1681 60,936 5 46,422 4

    869,630 77 827,291 77 15X9 370,468 33 316,986 30 1672 22,842 2 53,226 5

    522,004 46 563,531 52 1770 (()) 5,111 1 6,071 1 1788 () 3,167 - 8,442 1

    8,278 1 14,513 2 1820 2,581 - 1,927 - 1838 31,334 3 24,013 2 1860 (()) - - 11,863 1

    33,915 3 37,803 3 $ 1,116,747 100 1,066,558 100

    98.12.31 97.12.31

    2100 (()) $ 3,199 - 92,037 9 2143 92,545 8 74,055 7 2224 43,555 4 21,149 2 2270

    (()) 2,667 - 2,667 - 2280 87,446 8 61,281 6

    229,412 20 251,189 24 2420 (()) 27,549 3 35,555 3 2810 (()) 6,884 1 6,918 1 2861

    (()) 4,872 - - - 11,756 1 6,918 1

    268,717 24 293,662 28 (()) 3110 632,950 57 619,000 58 3140 9,745 1 - -

    642,695 58 619,000 58 3211 75,907 7 75,000 7 3310 6,710 1 2,543 - 3351 101,611 8 44,556 4

    108,321 9 47,099 4 3420 21,107 2 31,797 3 848,030 76 772,896 72

    ()

    $ 1,116,747 100 1,066,558 100

  • ()

    159

    :

    98 97

    4000 4110 () $ 978,413 101 821,150 100 4190 (6,333) (1) (2,539) - 972,080 100 818,611 100 5110 666,648 69 587,787 72 305,432 31 230,824 28 (()) 6100 25,076 2 20,413 3 6200 104,613 11 89,341 11 6300 86,869 9 77,851 10 216,558 22 187,605 24 88,874 9 43,219 4 7110 595 - 1,648 - 7130 8,370 1 - - 7160 - - 9,179 1 7480 12,138 1 3,457 - 21,103 2 14,284 1 7511 (()) 1,976 - 2,539 - 7530 9,761 1 3,296 - 7560 231 - - - 7630 (()) - - 250 - 11,968 1 6,085 - 98,009 10 51,418 5 8110 (()) 12,027 1 9,749 1 $ 85,982 9 41,669 4

    $ 85,982 9 41,669 4 - - - - $ 85,982 9 41,669 4

    9750 ()(()) $ 1.52 1.38 0.79 0.67 9850 ()(()) $ 1.48 1.34 0.78 0.66

  • ()

    160

    :

    $ 600,000 - 75,000 - 25,430 14,349 714,779

    - - - 2,543 (2,543) - - 16,000 - - - (16,000) - - 3,000 - - - (3,000) - - - - - - (1,000) - (1,000)

    - - - - - 17,448 17,448 - - - - 41,669 - 41,669 619,000 - 75,000 2,543 44,556 31,797 772,896 - - - 4,167 (4,167) - - - - - - (24,760) - (24,760) 13,950 9,745 907 - - - 24,602 - - - - - (10,690) (10,690) - - - - 85,982 - 85,982 $ 632,950 9,745 75,907 6,710 101,611 21,107 848,030

  • ()

    161

    :

    98 97

    $ 85,982 41,669

    137,132 121,364 - 500 10,180 5,601 1,391 3,296 - 250 () (25,817) (63,643) () 20,472 (18,505) () (1,194) 28,005 () 18,490 (25,499) 33,574 10,070

    280,210 103,108

    (23,167) (37,841) 40,521 4,968 (104,568) (168,543) () (654) 501

    (87,868) (200,915)

    () (88,838) 41,094 24,602 - (24,760) - - 40,000 (8,006) (1,778) (1,096) (1,000)

    () (98,098) 78,316 2,584 3,648 () 96,828 (15,843) 178,926 194,769 $ 275,754 178,926

    () $ 2,017 3,238 $ 1,302 1,931

    $ 126,974 155,467 () (22,406) 13,076 $ 104,568 168,543

    $ 2,667 2,667 $ 21,734 14,087

  • 162

    ()

    ()

    1,4891,171

    () 98.12.31 97.12.31

    Newmacro International Co., Ltd.

    100% 100%

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    100% 100%

    Newmax International Co., Ltd.

    ()

    100% 100%

    ()

  • ()

    163

    ()

    Newmacro International Co., Ltd.Newmax International Co., Ltd.

    ()

    1. 2. 3. 4.

    1. 2. 3.

    ()

    ()

  • ()

    164

    ()

    ()

    ()

    3~25 3~10 1~3 1~10 1~5

    ()

    :

    2~5 3 1

    ;

    :

    1. 2.

  • ()

    165

    3. 4. 5. 6.

    ()

    ()

    ()

  • ()

    166

    () ()

    (96)052

    ()

    (92)070071072

    ()

    ()

    ()

  • ()

    167

    ()

    ()

    (97)169(96)052

    7360.01

    (96)052

    4,2190.07

    () 98.12.31 97.12.31

    $ 340 1,180 29,087 75,985 29,427 77,165 (1,387) (1,421) $ 28,040 75,744

  • ()

    168

    () 98.12.31 97.12.31

    $ 19,465 43,216

    (1,284) (3,960) 18,181 39,256 13,479 21,761 (1,189) (1,455) 12,290 20,306 21,113 25,868 (2,169) (2,667) 18,944 23,201 $ 49,415 82,763

    7,070 8,0623,2443,224

    98 97 $ - 3,224 (3,244) - 13,424 2,377 () (3,110) 2,461 $ 7,070 8,062

    ()

    ()

    25010,000

    () 3,457

    9184.77%

  • ()

    169

    () 98.12.31 97.12.31

    $ - 37,818 3,199 54,219 3,199 92,037 $ 334,711 161,102

    1.33%~4.31%2.83%~ 6.61%

    () 98.12.31 97.12.31 97.04.25~112.04.241

    180 $ 30,216 38,222

    (2,667) (2,667) $ 27,549 35,555

    1.85%~2.39%2.39%~6.73%

    99.01.01~99.12.31 $ 2,667 100.01.01~100.12.31 2,667 101.01.01~101.12.31 2,667 102.01.01~102.12.31 2,667 103.01.01~103.12.31 2,667 104.01.01 16,881 $ 30,216

    () Newmacro International Co., Ltd.Newmax International Co., Ltd.

  • ()

    170

    98.12.31 97.12.31

    $ - 1,964 7,912 5,951 7,912 7,915 7,193 4,359 15,105 12,274 1,028 997 14,077 11,277 (7,540) (8,120) (4,764) (2,310) 5,111 6,071 $ 6,884 6,918

    98 97

    $ 16 14 307 290 (25) (29)

    637 580 $ 935 855

    98.12.31 97.12.31

    2.25% 2.50% 2.50% 2.50% 2.25% 2.50%

    98 97

    $ 935 855 7,865 4,938 $ 8,800 5,793

    03,466

  • ()

    171

    () 1.()

    ()

    95.10.01 3,000 95.10.1~ 100.9.30

    95.10.1~ 97.9.30

    10 10.65

    96.12.27 2,000 96.12.27~ 102.12.27

    96.12.27~ 99.12.26

    12 11.23

    2.

    0 3.Black-Scholes

    - % - %

    1.65% 2.12%

    5 6

    4.9 11.35

    4. 98 97

    5,000,000 $ 10.88 5,000,000 $ 11.28 - - - - 2,310,000 10.65 - - 105,000 - - - 2,585,000 5,000,000 585,000 1,500,000

  • ()

    172

    5.

    98.12.31

    98.12.31

    585,000 1.75 10.65 585,000 10.65

    2,000,000 4 11.23 - -

    97.12.31

    97.12.31

    3,000,000 2.75 11.05 1,500,000 11.05

    2,000,000 5 11.63 - -

    6.

    98 97 $ 85,982 41,669 79,638 32,799 1.38 0.67 1.27 0.53 1.35 0.66 1.25 0.52

    () 1.

    16,0003,00019,0001,900

    800,000632,950619,00010

    2,310915 2.

  • ()

    173

    3.

    (1) (2) (3) (4) (5)(1)(4)

    (6)(1)(4) (7)

    12% 3%9,2864,5292,3221,096

    97 96

    (0.4) $ 24,760 -(0.267) - 16,000 1,096 1,000 4,529 - - 3,000 $ 30,385 20,000

    4.

  • ()

    174

    ()

    Newmacro International Co., Ltd.Newmax International Co., Ltd.

    98 97

    $ 4,523 2,211 6,230 7,501 1,274 37

    $ 12,027 9,749

    98 97

    $ 24,502 12,845 5,103 (888) 1,274 37 - (2,618) 733 - (560) (99) 1,655 4,767 6,346 - (3,791) (2,211) (23,235) (2,084) $ 12,027 9,749

  • ()

    175

    98 97

    $ 11,476 14,809 - (148) 9,314 (5,076) (23,235) (2,084) 8,675 -

    $ 6,230 7,501

    ()

    98.12.31 97.12.31

    $ 14,607 53

    $ 14,034 59,327 (13,630) (36,865) 404 22,462 (5,276) (10,599) () $ (4,872) 11,863

    98.12.31 97.12.31

    $ 354 211 47 (366) 50 62 10,807 25,066 3,584 4,859 13,630 29,192 (5,276) (10,599) 169 356 23,365 48,781 (13,630) (36,865) $ 9,735 11,916

  • ()

    176

    3,584

    95 $ 143 99 96 1,724 100 97 1,717 101 $ 3,584

    94 $ 41,285 104 95 12,751 105 $ 54,036

    98.12.31 97.12.31

    $ 101,611 44,556

    $ 1,231 - 98 97

    1.21% () -% ()

  • ()

    177

    ()

    98 97 $ 94,717 85,982 49,207 41,669 () 62,491 62,491 61,900 61,900 () $ 1.52 1.38 0.79 0.67

    $ 94,717 85,982 49,207 41,669 () 62,491 62,491 61,900 61,900 886 886 450 450

    761 761 484 484 () 64,138 64,138

    62,834

    62,834

    () $ 1.48 1.34 0.78 0.66

    () 1.

    98.12.31 97.12.31

    $ 275,754 275,754 178,926 178,926

    () 194,300 194,300 168,483 168,483 9,715 9,715 12,921 12,921

    -

    (3) -

    (3) 2,581 2,581 1,927 1,927

    3,199 3,199 92,037 92,037 92,545 92,545 74,055 74,055 43,555 43,555 21,149 21,149 80,142 80,142 53,486 53,486

    () 30,216 30,216 38,222 38,222

  • ()

    178

    2. (1)

    ()

    (2)

    (3)

    (4) (5)

    3.

    98.12.31 97.12.31

    $ 275,754 - 178,926 -

    () - 194,300 - 168,483 - 9,715 - 12,921 2,581 - 1,927 -

    - 3,199 - 92,037 - 92,545 - 74,055 - 43,555 - 21,149 - 80,142 - 53,486

    () - 30,216 - 38,222

    4. (1)

  • ()

    179

    ()86%55%

    (2)

    (3)

    1%3341,303

    ()

    () ()() ()() () Chicony Overseas, Inc.

    () 1.

    98 97

    $ - - 22 - 551,591 57 386,214 47 244,720 25 - - 41,341 4 153,419 19 Chicony Overseas, Inc. - - 58,744 7 $ 837,652 86 598,399 73

  • ()

    180

    98.12.31 97.12.31

    $ 82,394 43 51,035 30 83,797 43 - - - - 41,637 25 69 - 74 -

    166,260 86 92,746 55 - - 7 - $ 166,260 86 92,739 55

    2.

    6,038

    ()

    98.12.31 97.12.31

    $ 8,131 6,736 222 240 929 453

    $ 9,282 7,429

    ()

  • ()

    181

    98.12.31 97.12.31 $ - 37,818 25,360 27,201 29,086 32,597 $ 54,446 97,616

    227,581

    99.01.01~99.12.31 $ 16,709 100.01.01~100.12.31 4,127 101.01.01~101.12.31 4,323 102.01.01~102.12.31 4,323 103.01.01~103.12.31 2,161 $ 31,643

    () 98 97

    127,628 94,366 221,994 131,808 78,816 210,624 2,637 4,710 7,347 994 4,059 5,053 4,511 4,289 8,800 1,923 3,870 5,793 14,581 2,757 17,338 13,756 2,574 16,330 76,045 18,088 94,133 69,037 15,722 84,759 22,012 20,987 42,999 20,732 15,873 36,605

  • ()

    182

    ()

    () 1. 2.

    (1)

    (2)1 Newmax International

    Co., Ltd. 339,212 210,743 210,743 - 24.85 % 424,015

    140% 250%

    3.

    Newmacro International Co., Ltd.

    15,400 464,164 100.00 464, 1

    ()

    -

    500 - 6.25 - 2

    1 2

    4.

    5. 6. 7.

    ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    761,216 100 % 1 - 1 (82,910) 89 % 2

    (

    )

    533,534 56 % 60 - 77,928 41 %

    (

    )

    244,720 25 % 60 - 83,791 45 %

    1 2

    8.

  • ()

    183

    9. ()

    1.... /

    Newmacro International Co., Ltd.

    505,932 505,932 15,400 100.00% 464,164 50,855 50,855 2

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    USD15,400 USD15,400 15,400 100.00% USD 14,504 USD 1,540 USD 1,540 2

    Newmax International Co., Ltd.

    USD 7,350 USD 7,350 1 100.00%

    USD 10,074 USD 618 USD 618 2

    1 2

    2. 3.

    1 Newmax International Co., Ltd.

    339,212 210,743 210,743 - 24.85 % 424,015

    140% 250%

    4. /

    Newmacro International Co., Ltd.

    Newmax International Co., Ltd.

    15,400 USD 14,504 100.00 USD 14,504 12

    Newmax International Co., Ltd.

    3 USD 10,074 100.00 USD 10,074 12

    1 2 3

    5.

    6. 7.

  • ()

    184

    8. ()

    ()

    ()

    ()

    ()

    Newmax International Co., Ltd.

    676,285 100 % 1 - 1 36,475 32 % 2

    Newmax International Co., Ltd.

    761,216 100 % 1 - 1 82,910 100 % 2

    1

    2 9.

    10. ()

    1.

    $239,133 (US$ 7,350)

    $239,133(US$ 7,350)

    - - $239,133(US$ 7,350)

    100 % $ 20,419(US$ 618)

    $322,267(US$10,074)

    -

    2.

    $ 239,133 (US$ 7,350 )

    $ 270,536 (US$ 8,700 )

    $ 508,818

    3.() (1)

    Newmax International Co., Ltd.761,216556,684

    82,91031 Newmax International Co., Ltd.

  • ()

    185

    (2) Newmax International Co., Ltd.

    35,20838,929

    (3) Newmax International Co., Ltd.

    Newmax International Co., Ltd.36,81555,882

    () 98

    ()

    ()

    0

    Newmax International Co., Ltd.

    1 761,216 77.80%

    0

    Newmax International Co., Ltd.

    1 82,910 7.42%

    1 Newmax International Co., Ltd.

    1 676