Business Context and Reporting Period
This Form 6-K filing by ChipMOS Technologies Inc., dated April 23, 2020, announces the differences between consolidated financial statements prepared under Taiwan IFRSs and International Financial Reporting Standards (IFRSs) for the year ended December 31, 2019. The company is a foreign private issuer based in Hsinchu, Taiwan.
Key Financial Metrics (Year Ended December 31, 2019)
| Metric | Taiwan IFRSs | IFRSs (SEC Filing) |
|---|---|---|
| Net Profit (Attributable to Equity Holders) | NT$2,584,161 thousand | NT$2,508,574 thousand |
| Total Comprehensive Income | NT$2,460,389 thousand | NT$2,381,308 thousand |
| Basic EPS (Net of Tax) | NT$3.55 | NT$3.45 |
| Diluted EPS (Net of Tax) | NT$3.51 | NT$3.40 |
| Total Consolidated Liabilities | NT$14,654,648 thousand | NT$14,775,302 thousand |
| Total Equity | NT$19,651,239 thousand | NT$19,530,585 thousand |
The filing text does not provide specific data on revenue, cash flow, operating margins, or liquidity ratios for the period.
Material Changes and Accounting Differences
The primary material change between the two reporting standards is the timing of the recognition of the 5% income tax on unappropriated retained earnings and the accumulated effects of differences carried over from prior years. Consequently, the IFRS figures reported to the SEC show slightly lower net profit, comprehensive income, and equity compared to the Taiwan IFRS figures.
Guidance, Risks, and Commentary
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the accounting standard differences. It notes that the audit report for the SEC filing was issued pursuant to U.S. Public Company Accounting Oversight Board rules, differing from the audit report filed with Taiwan's Financial Supervisory Commission.
Key Facts for Investor Verification
- Verify the specific impact of the 5% income tax on unappropriated retained earnings on future cash flows.
- Confirm the reconciliation of the NT$75,587 thousand difference in net profit between the two standards.
- Review the full 2019 Form 20-F for detailed revenue and cash flow data not included in this summary.
- Check the company's Investor Relations section for additional details on the accounting adjustments.