Subsidiaries' Losses Affecting Tatung's Bottom Line|華映股票將下市 28日跌停19萬張賣單高掛

Tatung Company subsidiary Chunghwa Picture Tubes announced on Mar. 27 that its net value turned negative last year, putting it in danger of being delisted from the stock market. On Mar. 28, Chunghwa Picture Tubes and other Taitung subsidiaries Green Energy Technology and San Chih Semiconductor Company all went limit down during trading, and there were over 190,000 Chunghwa Picture Tubes selling orders.


Tatung Company's financial situation continues to worsen. Last year, its after-tax loss rose to NT$ 33.293 billion due to the poor performance of subsidiaries Chunghwa Picture Tubes and Green Energy Technology. During trading on Mar. 28, these two subsidiaries and a third one, San Chih Semiconductor Company, all went limit down. Chunghwa Picture Tubes' selling orders totaled 190,000, and there were at least 31,000 Green Energy Technology selling orders. Tatung's share price opened at a low NT$ 23.8.

A large portion of the NT$ 33.293 billion in net losses is the operating losses of Chunghwa Picture Tubes and Green Energy Technology, as reporting was consolidated.

Tatung Company says its consolidated revenue last year was NT$ 60.623 billion and the consolidated after-tax loss was NT$ 33.293 billion. The net loss per share was NT$ 4.75. This included Chunghwa Picture Tubes' recognized loss of NT$ 7.8 billion and Green Energy Technology's recognized loss of NT$ 2.1 billion for a total of NT$ 9.9 billion in recognized losses, the highest amount since the company was listed. Last year, Chunghwa Picture Tubes lost NT$ 19.5 billion and its total debt ballooned to NT$ 36.6 billion. Its book value deteriorated to NT$ -0.7 per share, which means it will be delisted.

The company faced financial and operating difficulties in 2018 due to the panel supply exceeding demand and the impact of the U.S.-China trade war. The company has already lost its control over CPT Technology Group.

Green Energy Technology may also be delisted, which will affect small shareholders. There are worries that Tatung Company's shares will become worthless as a result.

Yesterday, Tatung Company issued a financial report with NT$ 33 billion in after-tax losses. If Tatung is regarded as a market leader, what it needs to guarantee is of course its own existence.

Financial Supervisory Commission Minister Wellington Koo added accountants are already issuing unqualified opinions for Tatung's financial report, and the FSC and the stock exchange are monitoring its net value as this situation will determine whether Tatung's trading methods need to be changed and also have an effect on the share price.



大同集團財務危機持續擴大，母公司大同去年受子公司華映和綠能拖累，稅後虧損332.93億元，28號上午，集團中的綠能、華映、尚志都打入跌停，其中華映的委賣單更高達19萬張，綠能至少也有3.1萬張，大同則以23.8元低盤開出。

大同財務長 彭文傑表示：「淨損332.93億元裡面，因為是合併報表，所以其實裡面大部分的損失，是來自於華映跟綠能這兩家的營業淨損。」

大同表示，去年結算財報合併營收606.23億元，合併稅後淨損332.93億元，每股淨損4.75元，其中，認列華映達78億元、綠能為21億元，合計認列虧損高達99億元，創上市以來最大虧損，而華映去年大虧195億元，負債總額大增至366億元，每股淨值轉為負0.7元，也將依規定下市。

華映發言人 黃世昌表示：「107年因為面板供過於求，以及中美貿易戰的影響，造成本公司財務困難經營辛苦，本公司對華映科技集團股份有限公司，已喪失控制力。」

而就在綠能及華映先後面臨下市的命運，小股東受傷慘重、現在外界也擔心母公司大同股票會變成壁紙。

金管會主委 顧立雄表示：「大同昨日公布的財報還有330億的淨損，以大同作為一個龍頭來看，他們要確保的，當然就是大同本身的一個存續。」

顧立雄強調， 目前會計師已對大同現有財報，出具無保留意見，金管會、證交所將以大同的淨值作為重要監視指標，因為這將會涉及大同是否需要變更交易方式或股價的波動。