ASE Technology Holding Co., Ltd. - Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on May 15, 2013, reports a material event for Advanced Semiconductor Engineering, Inc. (ASE). The filing discloses an acquisition by a subsidiary, ASE Assembly & Test (Shanghai) Limited, pursuant to Taiwan Stock Exchange regulations.
Key Financial Metrics and Transaction Details
- Transaction Type: Acquisition of 100% shareholding in Wuxi Tonzhi Microelectronics Co., Ltd.
- Total Monetary Amount: RMB 70,000,000.
- Counterparty: Toshiba Semiconductor (Wuxi) Co., Ltd. (No related party relationship).
- Payment Terms: 50% via wire transfer on the date of acquisition; remaining 50% within 30 days.
- Valuation Basis: Negotiated based on net value of shareholding and a fairness opinion issued by a CPA.
- Investment Ratio: The transaction represents 48.17% of total assets and 125.91% of shareholder's equity based on the most recent financial statements.
- Operating Capital: Reported as -RMB 1,181,441,938 in the most recent financial statement.
Material Changes and Strategic Purpose
The acquisition is designated as a long-term investment. The transaction was approved by the Board of Directors and shareholders of ASE Assembly & Test (Shanghai) Limited. No directors objected to the transaction, and no CPA opinion was issued regarding the unreasonableness of the price.
Guidance, Risks, and Contingencies
The filing does not provide specific forward-looking guidance, risk factors, or contingencies related to this specific transaction beyond the standard disclosure of payment terms and valuation methods. The filing text does not provide a clear value for anticipated profit or loss from the acquisition.
Key Facts for Investor Verification
- Verify the financial health and operational status of Wuxi Tonzhi Microelectronics Co., Ltd. given the significant investment size relative to the subsidiary's reported operating capital.
- Confirm the integration strategy for the acquired entity within ASE's broader semiconductor assembly and test operations.
- Review the specific CPA fairness opinion referenced in the filing to validate the RMB 70,000,000 valuation.
- Monitor the impact of the 125.91% ratio of this investment to shareholder's equity on the subsidiary's leverage and liquidity.