Wistron Corporation – A Technology Service Provider

Investor Presentation

2

Disclaimer This presentation is private and confidential and is being made available to the recipient on the express understanding that it will be kept confidential and that the recipient shall not copy, reproduce, distribute or pass to third parties this presentation in whole or in part at any time. This presentation is the property of Wistron Corporation (“Wistron”) and the recipient agrees that it will, on request, promptly return this presentation and all other information supplied in connection with the ideas and concepts presented herein, without retaining any copies. This presentation has been prepared by Wistron and is being delivered to the recipient and is for general reference only. The sole purpose of this presentation is to assist the recipient in understanding Wistron. This presentation is not intended to form the basis of a decision to purchase securities or any other investment decision and does not constitute an offer, invitation or recommendation for the sale or purchase of securities. Any decision to purchase securities in any offering of Wistron should be made solely on the basis of the information contained in a prospectus which may be published or distributed in due course in connection with such offering, if any. Neither the information contained in this presentation nor any further information made available in connection with the subject matter contained herein will form the basis of any contract. This presentation does not purport to be comprehensive or to contain all the information about Wistron, its business, its current or historical operating results or its future business prospects. The information contained herein is based on publicly available information and sources, which we believe to be reliable, but we do not represent it is accurate or complete. The recipient of this presentation must make its own investigation and assessment of the ideas and concepts presented herein. No representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted by Wistron or by any of its directors, officers, employees, agents or advisers, in relation to the accuracy or completeness of this presentation or any other written or oral information made available in connection with the ideas and concepts presented herein. Any responsibility or liability for any such information is expressly disclaimed. In furnishing this presentation, Wistron undertakes no obligation to provide the recipient with access to any additional information, or to update, or to correct any inaccuracies which may become apparent in, this presentation or any other information made available in connection with the ideas and concepts presented herein.

3

Table of contents

Section 1 Company Overview Section 2 Financial Summary

4

Company Overview Section 1

5

Company overview

2006

2007

2008

♦ “Best Overall Corporate Governance in Taiwan – Asia Money

Company snapshot

♦ A major ICT ODM & TSP (technology service provider) company

♦ More than 25 sites in the world

♦ More than 60,000 employees

♦ Annual production: more than 75 million units in 2011

Key financials (NT$bn)

NT$Bn 2008 2009 2010 1-3Q'11

Revenue 445.1 546.6 615.2 463.1Growth (%) 55.2% 22.8% 12.6% 1.9%

Gross profit 24.9 29.9 34.5 23.2Gross margin (%) 5.6% 5.5% 5.6% 5.0%

Operating profit 8.6 10.7 13.8 7.6Operating margin (%) 1.9% 1.9% 2.2% 1.6%

Net income 6.9 9.1 12.0 6.7Net margin (%) 1.5% 1.6% 2.0% 1.4%

2009

♦ Busin “Global Info Tech 100” and “Taiwan Info Tech 100” – Business Week

♦ Asian Fabulous 50 “The Best of Asia-Pacific's Biggest Listed Companies” – Forbes

2010

♦ “Info Tech 100 Asia” and “Info Tech 100 Taiwan” – BusinessNext

♦ “Fortune Global 500” – Fortune

2011 ♦ Global 2000 “Global High Performers” in technology

& equip industry category – Forbes

♦ “Excellence in Corporate Social Responsibility” in Larges Enterprises – CommonWealth Magazine

♦ Spun off from Acer to take over its Design, Manufacturing & Services division

♦ Listed on Taiwan Stock Exchange

2003

2002

2004

2005

6

NB, Tablet, e-Reader, Rugged NB/HH and Smartphone

DT, AIO, LCD TV, monitor, thin client, and media player

Blade Server, VoIP, Storage and IPC

Cloud Computing, Container Server, Reverse logistics & repair service, Green recycling

Products and

Services

Mobile

Business Group Digital Consumer Business Group

Enterprise Business Group

Services & Recycling Business

A leading ‘Industrial Brand Name’ for ICT products

7

Investment highlights

Well diversified product portfolio

Good execution, efficient operation and learning

organization

Leading innovation

supported by strong R&D strategy

Diverse top-tier customer base

Strong financial track record

Ability to create synergy of existing organization & outside opportunities

1

2

3 4

5

6

8

63 80 107 142 169 201 208 227

2005 2006 2007 2008 2009 2010 2011 2012E

Global NB shipments (mm)

610 12

26

3531

27.5

22

2005 2006 2007 2008 2009 2010 2011 2012E

Wistron NB shipments (mm)

♦ Well established top 3 market position in global NB ODM industry

♦ Wistron’s winning strategy has resulted in increase in its global mainstream NB ODM market share from 10% in 2005 to 19% in 2011

– More high-end products by design ability

– More order wins by performance

– Cost advantage by economies of scale

Global notebook shipments (mm units) Solid position in NB ODM

Solid notebook ODM

9

230203

137

7645

20

50

80

110

140

170

200

230

2007 2008 2009 2010 2011

NT$

Bn

Diversified Successfully

LCD TV5%

Monitor6%

NB75%

S/S4%

Service2%

Handheld1%

DT5%

2009 : NT$547B

Non-NB Revenue Trend Notebook PC remains one of the major

growth drivers Other product lines are also growing on track - Handheld - Desktop - Server/storage, VOIP, IPC - After-sales services

2010 : NT$615B

LCD TV8%

Monitor6%

NB67%

S/S4%

Service2%

Handheld4%

DT8%

2011 : NT$658B

76

LCD TV8%

Monitor6%

NB65%

S/S5%

Service2%

Handheld5%

DT9%

10

Global synchronized manufacturing and service infrastructure

Unparalleled global

manufacturing and

service footprint

Strategically located

operations to support

customers’ product

development requirements

Superb CTO/BTO

Capability

Global system to fully integrate various functions around the globe

Production Research & Development Service

Kunshan, China Dallas, US

Tokyo, Japan

Production Research and Development Service

Taipei, Taiwan

Source: Company

Brno, Czech Republic

Juarez, Mexico

Juarez, Mexico Product configuration center

Dallas, US Service center

Tilburg, Netherlands Service center

Brno, Czech Republic Product configuration center

Tokyo, Japan Service center

Kunshan, China Manufacturing center Technology campus

Shanghai, China Service center

R&D center

Zhongshan, China Manufacturing center Technology campus

Taipei, Taiwan Headquarters,

Global R&D center

Hsinchu, Taiwan Manufacturing center Subic Bay, the

Philippines Manufacturing center

repair center Bangalore, India Service center

Singapore Service center

Round Rock, US Customer sales support

Taizhou, China Manufacturing center Technology campus

Istanbul, Turkey Service center

Bogota, Columbia Service center Sao Paulo, Brazil

Service center

Mexico City, Mexico Service center

11

Leading innovation , R&D Centric

R&D Expenses in NT$bn R&D Expenses / Sales

$8.3$9.9

$6.4$4.4

$3.0$2.7

1.62%

1.35%1.54% 1.44%

1.52%

1.61%

2005 2006 2007 2008 2009 2010

Current key R&D focuses Sustained R&D spending

Achievements

• Ultrabook, Convertibles, Tablets

• Connected/Digital Homes

• Cloud Computing

• Green Initiatives

Tablet PC

3D NB

Container Data Center

Ultrabook

Industrial Handheld Devices

12

8,0178,613

10,749

13,759

7,593

0

2000

4000

6000

8000

10000

12000

14000

2007 2008 2009 2010 1-3Q'11

Ope

ratin

g P

rofit

NT$

M

288

445

547

615

0

100

200

300

400

500

600

2007 2008 2009 2010 2011

Sal

es N

T$B

Track record of strong financial performance (1)

Strong growth momentum in sales Continuously improving profitability

658

*

*

*

*

* Wistron started to book employee bonus expense since 2008 ( NT$ 1,044 million in 2008, NT$ 1,279 million in 2009 , NT$ 1,551 million in 2010 & NT$ 834 million in 1-3Q’11) Source: Company consolidated financials

13

4.804.57

5.32

6.15

3.23

0

2

4

6

2007 2008 2009 2010 1-3Q'11

EP

S N

T$

21.519.8

16.9

21.9

15.6

0

10

20

2007 2008 2009 2010 1-3Q'11

RO

E %

Track record of strong financial performance (2)

ROE EPS

* After bonus expense Source: Company consolidated financials

*

*

* *

* *

*

*

14

Total assets 179,832 217,654 262,549

Net debt (12,894) 1,202 10,916(= Total debt - Cash& ST investments)

Shareholders' equity 54,014 56,870 59,793

LT investments 5,861 7,805 8,677

Net debt / Equity -24% 2% 18%

Superior balance sheet management

Efficient utilisation of equity

Source: Company consolidated financials

(NT$M) 2009 2010 3Q’11

11.810.1 10.8 10.3

2008 2009 2010 1-3Q'11

Sale

s/Eq

uity

15

2006 2007 2008 2009 2010*PBT (NT$M) 6,574 7,771 8,857 11,496 15,345 PAT (NT$M) 5,327 6,605 6,878 9,135 12,030 Cash Bonus (NT$M) 144 178 - 1,196 1,475 Stock Bonus (000' Shares) 33,492 41,614 20,182 - - Market value of Bonus (NT$M) 1,492 2,410 982 - - Closing price 44.5 57.9 48.7 55.0Employee Bonus / PBT 24.9% 33.3% 11.1% 10.4% 9.6%Employee Bonus / PAT 28.0% 36.5% 14.3% 13.1% 12.3%

2006 2007 2008 2009 2010*Stock (NT$) 0.6 0.5 1.08 0.5 0.5Cash (NT$) 2.2 2.7 1.08 2.7 3.2Diluted EPS (NT$) 4.31 4.8 4.57 5.23 6.15Total Dividend Payout (%) 65% 67% 47% 61% 60%Cash Dividend Payout (%) 51% 56% 24% 52% 52%

Historical earning distribution

• Employee Bonus Dilution

• Dividend

* The board approved proposal

16

Financial Summary Section 2

17

NT$ M 2006 2007 2008* 2009* 2010*

Net Revenue 221,054 286,754 445,118 546,666 615,185Realized gross profit 14,745 6.67% 18,361 6.40% 24,866 5.59% 29,949 5.48% 34,524 5.61%

Operating Expenses Selling (3,623) -1.64% (4,417) -1.54% (7,654) -1.72% (8,651) -1.58% (8,548) -1.39% Administrative (1,171) -0.53% (1,520) -0.53% (2,171) -0.49% (2,263) -0.41% (2,334) -0.38% Research and Development (2,991) -1.35% (4,407) -1.54% (6,428) -1.44% (8,287) -1.52% (9,883) -1.61%Total Operating Expenses (7,785) -3.52% (10,344) -3.61% (16,253) -3.65% (19,200) -3.51% (20,765) -3.38%

Operating Income 6,959 3.15% 8,017 2.80% 8,613 1.94% 10,749 1.97% 13,759 2.24%

Non-operating Income/(Loss)

Interest Expense, net (989) (628) (662) (294) (104) Investment Income/(Loss) 152 287 239 341 333 Exchange Gain/(Loss), net 268 (161) (38) 211 256 Other Income/(Expense) 133 524 705 489 1,101

PBT 6,524 8,038 8,857 11,496 15,345Tax (1,249) -19.15% (1,322) -16.44% (1,958) -22.11% (2,325) -20.23% (3,305) -21.54%Minority Interest 52 (111) (21) (36) (10)PAT 5,327 6,605 6,878 9,135 12,030Outstanding Shares (M) 1,272 1,382 1,517 1,864 1,981

Income statements

* Wistron started to book employee bonus expense since 2008 (NT$ 1,044 million in 2008, NT$ 1,279 million in 2009 & NT$ 1,551 million in 2010) Source: Company consolidated financials

18

Consolidated (2011 1-3Q vs. 2010 1-3Q)

NT$ M 1-3Q'11 1-3Q'10 YoY

Net Revenue 463,111 454,413 1.91%Realized gross profit 23,241 5.02% 25,532 5.62% -8.97%

Selling (6,210) -1.34% (6,485) -1.43% -4.25%Administrative (1,342) -0.29% (1,737) -0.38% -22.71%Research & Development (8,096) -1.75% (6,924) -1.52% 16.93%Total Operation Expenses (15,648) -3.38% (15,146) -3.33% 3.32%Operating Income 7,593 1.64% 10,386 2.29% -26.89%

Non-operating Income/(Loss)

Interest Expense, net 148 (106) LT Investment Income/(Loss), net 291 277 Exchange Gain/(Loss), net 370 104 with Evaluation gain on financial instruments, net Other Income/(Expense) 192 395

PBT 8,595 11,056 -22.26%

Tax (1,892) -22.01% (2,133) -19.29% -11.30%Minority Interest - 6

PAT 6,703 8,929 -24.93%EPS 3.23 4.34 -25.58%

19

NT$ M Q3'11 Q2'11 QoQ Q3'10Net Revenue 166,369 159,454 4.34% 162,136Realized gross profit 7,895 4.75% 8,241 5.17% -4.20% 9,373 5.78%

Selling (2,266) -1.36% (2,052) -1.29% 10.40% (2,340) -1.44%Administrative (409) -0.25% (533) -0.33% -23.33% (595) -0.37%Research & Development (2,720) -1.63% (2,833) -1.78% -3.99% (2,613) -1.61%Total Operation Expenses (5,394) -3.24% (5,418) -3.40% -0.44% (5,548) -3.42%Operating Income 2,501 1.50% 2,822 1.77% -11.38% 3,826 2.36%

Non-operating Income/(Loss)

Interest Expense, net 44 65 (11) LT Investment Income/(Loss), net 130 72 72 Exchange Gain/(Loss), net 101 186 10 with Evaluation gain on financial instruments, net Other Income/(Expense) 123 26 274

PBT 2,898 3,171 -8.61% 4,170Tax (697) -24.06% (681) -21.48% 2.38% (891) -21.36%Minority Interest - - (9)

PAT 2,201 2,490 -11.62% 3,270EPS 1.06 1.26 -15.87% 1.67

Income Statement (2011 Q3 vs. 2011 Q2 & 2010 Q2)

20

NT$M 2011/9/30 2011/6/30 2010/9/30

Cash & ST Investments 53,510 20% 43,363 18% 33,645 16%

A/R 109,777 42% 99,509 41% 102,210 47%

Inventory 46,526 18% 49,965 21% 38,893 18%

Other current Assets 7,853 3% 6,093 3% 6,149 3%

Total Current Assets 217,666 83% 198,931 83% 180,897 84%

LT equity investments 8,677 3% 8,059 3% 7,796 4%

Property, plant and equipment 30,406 12% 27,798 12% 21,941 10%

Other assets 5,799 2% 5,470 2% 4,832 2%

Total Assets 262,549 100% 240,258 100% 215,465 100%

ST Borrowing 63,949 24% 52,414 22% 23,183 11%

Current Portion of LT Debt - 0% - 0% 9,399 4%

A/P 117,953 45% 106,053 44% 105,258 49%

Other current liabilities 16,597 6% 21,642 9% 20,017 9%

Total Current Liabilities 198,498 76% 180,109 75% 157,857 73%

LT Debt 477 0% 2,156 1% - 0%

Other liabilities 3,781 1% 2,771 1% 1,850 1%

Total Liabilities 202,757 77% 185,036 77% 159,707 74%

Shareholders' Equity 59,793 23% 55,222 23% 55,759 26%

Balance Sheets

21

NT$M 1-3Q'11 1-3Q'10

Cash* (Beginning of period) 40,645 20,540

Cash flow from OperationConsolidated net income 6,703 8,923Depreciation & amortization 4,441 3,757(Income)/loss from equity method (38) (154)Changes in A/R (7,707) (2,831)Changes in A/P 19,436 3,533Changes in inventories (12,894) (11,224)Others (3,764) 3,655

Cash provided by operating activities 6,179 5,659

Cash flow from InvestmentCapex (10,266) (8,806)Others (1,185) (2,029)

Cash provided by investing activities (11,451) (10,835)

Cash flow from FinanceIncrease (decrease) in ST borrowings 30,841 21,298LT debt (8,405) 3,634Issuance of common stock - - Payment on cash dividends (6,300) (5,050)Payment on directors' and supervisors' remuneration - - Employee stock option 236 301 Treasury Stock - (879)Others 984 (60)

Cash provided by financing activities 17,356 19,244Effect of exchange rate change & subsidiaries consolidated 785 (966)Cash (End of period) 53,510 33,645

* Cash = Cash + Cash equivalent + ST financial instruments* Capex = Additions to property, plant and equipments + Increase in long-term equity investment + Increase in advance payments for investment

Cash Flows

1

緯創資通股份有限公司

公 司 簡 報

2

簡報內容

♦公司營運簡介 ♦財務概況

3

公司營運簡介 Section 1

4

公司簡介

♦ 主要產品: 筆記型電腦, 桌上型電腦, 電視, 顯示器, 手持裝

置, 伺服器, 儲存設備以及售後服務

主要財務數字 (NT$ Bn)

公司簡介

2003

2002

2004

2006

2007

2008

♦ 緯創資通股份有限公司設立於2001/5/30，前身為宏碁電腦股份有限公司的研發製造服務事業

♦ 2003/8/19在台灣證券交易所掛牌上市﹙股票代號 3231或3231.tw﹚

♦ 獲選亞元雜誌「台灣公司治理」

2005

2009

♦ 美國商業周刊「台灣科技100強」 及「世界科技100強」 (台灣科技產業表現最佳企業)

♦ 緯創獲得富比世雜誌「亞太50家最佳上市企業(The Asian Fab 50)1

2010

♦ 獲選富比世雜誌「全球2000大企業」中「全球高績效成長企業」

♦ 2010遠見CSR 65強企業

♦ 2010天下企業公民獎: 大型企業

NT$M 2008 2009 2010 1-3Q'1

營收 445.1 546.6 615.2 463.1成長率 (%) 55.2% 22.8% 12.6% 1.9%

營業毛利 24.9 29.9 34.5 23.2營業毛利率 (%) 5.6% 5.5% 5.6% 5.0%

營業淨利 8.6 10.7 13.8 7.6營業淨利率 (%) 1.9% 1.9% 2.2% 1.6%

本期淨利 6.9 9.1 12.0 6.7本期淨利率 (%) 1.5% 1.6% 2.0% 1.4%

2011 ♦ 財星雜誌“全球500大企業”

♦ 數位時代“2011科技百強亞洲台灣雙榜榮耀”

♦ 台灣證交所“上市公司企業社會責任報告書揭露優良獎”

5

多元化產品 組合及服務

可攜式產品 數位消費性產品 企業產品

客戶服務及 綠資源事業

資訊及通訊科技產品的”產業領導品牌”

筆記型電腦, 平板電腦, 電子書,強固型筆記型電 腦/手持裝置及智慧型行

動電話

桌上型電腦, 整合型電腦, 液晶電視, 顯示器, 精簡型電腦,及多媒體播

放器

刀鋒型伺服器, 網路電話, 儲存設備及工業電

腦

售後服務及維修 電子廢料回收及再生

雲端服務, 貨櫃型伺服器

6

發展之有利因素

所處之資訊電子產業仍高速成長

已於筆記型電腦建立堅實的產業地位

筆記型電腦之外，多元化的成長動能 健全的客戶組合

完整的研發、生產與售後服務平台

良好的財務表現與資產負債管理

1

2

3 4

5

6

7

產業快速成長

全球NB出貨量 (百萬 台) 緯創出貨量持續成長

Global NB shipments (mm) Wistron NB shipments (mm)

♦ Well established top 3 market position in global NB ODM industry

♦ Wistron’s winning strategy has resulted in increase in its global mainstream NB ODM market share from 10% in 2005 to 19% in 2009

– Strong design ability leads to more high-end products

– Better performance yields more order wins

– Cost advantage given economies of scale

63 80 107 142 169 201 208 227

2005 2006 2007 2008 2009 2010 2011 2012E

610 12

26

3531

27.5

22

2005 2006 2007 2008 2009 2010 2011 2012E

8

230203

137

7645

20

50

80

110

140

170

200

230

2007 2008 2009 2010 2011

NT$

Bn

2009 : NT$547B

非NB 盈收成長 ♦ 筆記型電腦仍然是公司最主要之產品線

♦ 然而其他的產品線也都有穩定的成長

-手持裝置 -桌上型電腦 -伺服器、數位電話 -售後服務

2010 : NT$615B

LCD TV8%

Monitor6%

NB67%

S/S4%

Service2%

Handheld4%

DT8%

2011 : NT$658B

76

LCD TV8%

Monitor6%

NB65%

S/S5%

Service2%

Handheld5%

DT9%

多元產品線

LCD TV5%

Monitor6%

NB75%

S/S4%

Service2%

Handheld1%

DT5%

9

全球據點

Unparalleled global

manufacturing and

service footprint

Strategically located

operations to support

customers’ product

development requirements

Superb CTO/BTO

Capability

Juarez, Mexico Product configuration center

Dallas, US Service center

Tilburg, Netherlands Service center

Brno, Czech Republic Product configuration center

Tokyo, Japan Service center

Kunshan, China Manufacturing center Technology campus

Shanghai, China Service center

R&D center

Zhongshan, China Manufacturing center Technology campus

Taipei, Taiwan Headquarters,

Global R&D center

Hsinchu, Taiwan Manufacturing center Subic Bay, the

Philippines Manufacturing center

repair center Bangalore, India Service center

Singapore Service center

Round Rock, US Customer sales support

Taizhou, China Manufacturing center Technology campus

Istanbul, Turkey Service center

生產製造 研發中心 售後服務

Global system to fully integrate various functions around the globe

Kunshan, China Dallas, US

Tokyo, Japan

Production Research and Development Service

Taipei, Taiwan

Source: Company

Brno, Czech Republic

Juarez, Mexico

10

主要研發方向

研發成果

Source: Company data

堅強的研發及技術創新能力

R&D Expenses in NT$bn R&D Expenses / Sales

$8.3$9.9

$6.4$4.4

$3.0$2.7

1.62%

1.35%1.54% 1.44%

1.52%

1.61%

2005 2006 2007 2008 2009 2010

持續而有效率的研發支出

• Ultrabook, Convertibles, Tablets

• Connected/Digital Homes

• Cloud Computing

• Green Initiatives

Tablet PC

3D NB

Container Data Center

Ultrabook

Industrial Handheld Devices

11

穩定的營收增加 顯著的獲利成長

穩健的財務表現 - 1

* 包括員工分紅 * 來源: 合併財務報表

8,0178,613

10,749

13,759

7,593

0

2000

4000

6000

8000

10000

12000

14000

2007 2008 2009 2010 1-3Q'11

Ope

ratin

g P

rofit

NT$

M

288

445

547

615

0

100

200

300

400

500

600

2007 2008 2009 2010 2011

Sal

es N

T$B

658

*

*

*

*

12

穩健的財務表現 - 2 資產報酬率

* 含員工分紅費用化之影響 ** 來源: 合併財務報表

4.804.57

5.32

6.15

3.23

0

2

4

6

2007 2008 2009 2010 1-3Q'11

EP

S N

T$

*

*

* *

* *

*

*

21.519.8

16.9

21.9

15.6

0

10

20

2007 2008 2009 2010 1-3Q'11

RO

E %

每股盈餘

13

總資產 179,832 217,654 262,549

淨負債 (12,894) 1,202 10,916(= 負債 - 現金 & 短投 )

股東權益 54,014 56,870 59,793

長期股權投資 5,861 7,805 8,677

淨負債 / 股東權益 -24% 2% 18%

一流的資產負債表管理

高效率的資本周轉

資源集中於本業

來源: 合併財務報表, 公開資訊觀測站

(NT$M) 2009 2010 1-3Q’11

14

2006 2007 2008 2009 2010*稅前淨利 (NT$M) 6,574 7,771 8,857 11,496 15,345 稅後淨利 (NT$M) 5,327 6,605 6,878 9,135 12,030 現金分紅 (NT$M) 144 178 - 1,196 1,475 股票分紅 (000' Shares) 33,492 41,614 20,182 - - 紅利市值 (NT$M) 1,492 2,410 982 - - 收盤價格 44.5 57.9 48.7 55.0員工分紅 / 稅前淨利 24.9% 33.3% 11.1% 10.4% 9.6%員工分紅 / 稅後淨利 28.0% 36.5% 14.3% 13.1% 12.3%

2006 2007 2008 2009 2010*股票股利 (NT$) 0.6 0.5 1.08 0.5 0.5現金股利 (NT$) 2.2 2.7 1.08 2.7 3.2每股盈餘 (NT$) 4.31 4.8 4.57 5.23 6.15股利發放比重 (%) 65% 67% 47% 61% 60%現金股利發放比重 (%) 51% 56% 24% 52% 52%

* The board approved proposal

歷年盈餘分配

• 員工紅利

• 股票及現金股利

15

財務資訊 Section 2

16

單位:新台幣百萬元 2006 2007 2008* 2009* 2010*

營業收入淨額 221,054 286,754 445,118 546,666 615,185已實現營業毛利 14,745 6.67% 18,361 6.40% 24,866 5.59% 29,949 5.48% 34,524 5.61%

營業費用

推銷費用 (3,623) -1.64% (4,417) -1.54% (7,654) -1.72% (8,651) -1.58% (8,548) -1.39% 管理費用 (1,171) -0.53% (1,520) -0.53% (2,171) -0.49% (2,263) -0.41% (2,334) -0.38% 研究發展費用 (2,991) -1.35% (4,407) -1.54% (6,428) -1.44% (8,287) -1.52% (9,883) -1.61%營業費用 (7,785) -3.52% (10,344) -3.61% (16,253) -3.65% (19,200) -3.51% (20,765) -3.38%

營業淨利 6,959 3.15% 8,017 2.80% 8,613 1.94% 10,749 1.97% 13,759 2.24%

營業外收入及利益/費用及損失

利息費用,淨額 (989) (628) (662) (294) (104) 依權益法認列之投資利益/損失 152 287 239 341 333 兌換與金融商品評價收入及損 268 (161) (38) 211 256 其他營業外收入/費用 133 524 705 489 1,101

本期稅前淨利 6,524 8,038 8,857 11,496 15,345所得稅費用 (1,249) -19.15% (1,322) -16.44% (1,958) -22.11% (2,325) -20.23% (3,305) -21.54%少數股權 52 (111) (21) (36) (10)本期淨利 5,327 6,605 6,878 9,135 12,030期末股本 1,272 1,382 1,517 1,864 1,981

* Wistron started to book employee bonus expense since 2008 (NT$ 1,044 million in 2008, NT$ 1,279 million in 2009 & NT$ 1,551 million in 2010) Source: Company consolidated financials

損益表

17

新台幣 (百萬) 1-3Q'11 1-3Q'10 YoY

營業收入淨額 463,111 454,413 1.91%營業毛利 23,241 5.02% 25,532 5.62% -8.97%

推銷費用 (6,210) -1.34% (6,485) -1.43% -4.25%管理費用 (1,342) -0.29% (1,737) -0.38% -22.71%研究發展費用 (8,096) -1.75% (6,924) -1.52% 16.93%營業費用 (15,648) -3.38% (15,146) -3.33% 3.32%營業淨利 7,593 1.64% 10,386 2.29% -26.89%

業外收入及費用

利息收入及費用 148 (106) 投資收益淨額(損) 291 277 兌換與金融商品評價收入及損失淨額 370 104 其它 192 395

稅前淨利 8,595 11,056 -22.26%

所得稅費用 (1,892) -22.01% (2,133) -19.29% -11.30%少數股權淨利 - 6

稅後淨利 6,703 8,929 -24.93%

每股盈餘 3.23 4.34 -25.58%

損益表 (100年前三季 vs.99年前三季 )

18

新台幣 (百萬) Q3'11 Q2'11 QoQ Q3'10營業收入淨額 166,369 159,454 4.34% 162,136營業毛利 7,895 4.75% 8,241 5.17% -4.20% 9,373 5.78%

推銷費用 (2,266) -1.36% (2,052) -1.29% 10.40% (2,340) -1.44%管理費用 (409) -0.25% (533) -0.33% -23.33% (595) -0.37%研究發展費用 (2,720) -1.63% (2,833) -1.78% -3.99% (2,613) -1.61%營業費用 (5,394) -3.24% (5,418) -3.40% -0.44% (5,548) -3.42%營業淨利 2,501 1.50% 2,822 1.77% -11.38% 3,826 2.36%

業外收入及費用

利息收入及費用 44 65 (11) 投資收益淨額(損) 130 72 72 兌換與金融商品評價收入及損失淨額 101 186 10 其它 123 26 274

稅前淨利 2,898 3,171 -8.61% 4,170所得稅費用 (697) -24.06% (681) -21.48% 2.38% (891) -21.36%少數股權淨利 - - (9)

稅後淨利 2,201 2,490 -11.62% 3,270每股盈餘 1.06 1.26 -15.87% 1.67

1.67

損益表 (100年第三季 vs.100年第二季 & 99年第三季 )

19

新台幣 (百萬) 2011/9/30 2011/6/30 2010/9/30

現金及約當現金 & 短期投資 53,510 20% 43,363 18% 33,645 16%

應收票據及帳款 109,777 42% 99,509 41% 102,210 47%

存貨 46,526 18% 49,965 21% 38,893 18%

其它流動資產 7,853 3% 6,093 3% 6,149 3%

流動資產合計 217,666 83% 198,931 83% 180,897 84%

長期股權投 8,677 3% 8,059 3% 7,796 4%

固定資產 30,406 12% 27,798 12% 21,941 10%

其它資產 5,799 2% 5,470 2% 4,832 2%

資產總計 262,549 100% 240,258 100% 215,465 100%

短期借款 63,949 24% 52,414 22% 23,183 11%

一年內到期隻長期借款 - 0% - 0% 9,399 4%

應付票據及帳款 117,953 45% 106,053 44% 105,258 49%

其他短期負債 16,597 6% 21,642 9% 20,017 9%

流動負債合計 198,498 76% 180,109 75% 157,857 73%

長期負債 477 0% 2,156 1% - 0%

其他負債 3,781 1% 2,771 1% 1,850 1%

負債合計 202,757 77% 185,036 77% 159,707 74%

股東權益 & 少數股權 59,793 23% 55,222 23% 55,759 26%

資產負債表

20

新台幣 (百萬) 1-3Q'11 1-3Q'10

期初現金及約當現金餘額 40,645 20,540

營業活動之現金流量：

本期淨利 6,703 8,923折舊及各項攤銷 4,441 3,757權益法投資損失(利得) (38) (154)應收帳款之淨變動 (7,707) (2,831)應付帳款之淨變動 19,436 3,533存貨之淨變動 (12,894) (11,224)其他 (3,764) 3,655

營業活動之淨現金流入(出) 6,179 5,659

投資活動之現金流量：

資本支出 (10,266) (8,806)其他 (1,185) (2,029)

投資活動之淨現金流入(出) (11,451) (10,835)

融資活動之現金流量：

短期借款增加(減少) 30,841 21,298現金增資發行新股 (8,405) 3,634支付現金股利 - - 支付員工紅利 (6,300) (5,050)支付董監酬勞 - - 員工執行認股之現金發行新股 236 301 買回庫藏股 - (879)其他 984 (60)

融資活動之淨現金流入(出) 17,356 19,244匯率影響數及合併個體變動影響數 785 (966)期末現金及約當現金餘額 53,510 33,645

* 約當現金 = 現金及約當現金 + 備供出售金融資產－流動

* 資本支出 = 新增及購建固定資產 + 長期股權投資增加

現金流量表