UNIVACCO TECHNOLOGY INC.

btlee@univacco.com.tw YHHsiao@univacco.com.tw 17 3 www.sinopac.com www.ey.com.tw

() 1,515,358 1,466,953 3.30% 69,009 159,347 56.70% 1.01 3,258,852 3,016,500 242,352 8.03% () 98 () 97 98 49.12 47.92 % 207.78 251.79 93.70 126.00 80.44 106.07 % 5.82 2.70 (%) 6.44 2.86 (%) 10.75 4.27 13.93 12.92 % (%) 19.95 6.10 (%) 10.86 4.55 () 2.32 1.01 () -1-

1. 2.offset 3. 1. 2. silicone () 1. UNIVACCO 2. 3. 4. () () 1. (1) (2) (3) 2. (1) (2) (3) () () -2-

-3-

79 08 80 02 GRAVURE COATER 81 03 GRAVURE COATER 81 06 82 04 GRAVURE COATER 83 10 GRAVURE COATER 84 01 1-13 83 10 84 06 85 02 GRAVURE COATER 86 03 COATER 86 06 ( 1-13 ) 87 05 GRAVURE COATER GVE 1650 m/m 88 04 GRAVURE COATER 89 04 ISO-9001 90 02 GRAVURE COATER 91 06 91 10 91 10 91 10 91 11 SGS ISO-9001(2000 ) 92 01 2-96 92 03 GVE 2000 m/m 92 07 92 07 93 04 93 05 94 01 4,000-4-

95 01 96 01 96 05 96 07 ( ) 96 11 97 02 UNIVACCO FOILSHOLLAND B.V. 97 07 APOLLO (Hologram) 97 10 98 03 98 09 100% -5-

-6- () ()

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99 04 20 % (1) 96.05.07 3 82.02.03 2,404,122 4.88% 2,782,445 3.50% 149,151 0.19% 96.05.07 3 96.05.07 518,795 1.05 517,102 0.65 751 0.00% 96.05.07 3 90.03.23 405,795 0.82% 624,376 0.78% 1,114 0.00% 96.05.07 3 90.03.23 324,038 0.66% 1,248,295 1.57% 181,531 0.23% 98.06.19 1 98.06.19 800,000 1.20 425,033 0.53 123,823 0.16% 96.05.07 3 93.04.30-8-

(1) 96.05.07 3 93.04.30 96.05.07 3 94.06.01 460,705 0.94% 540,585 0.68% 50,501 0.06% 96.05.07 3 90.03.23 173,429 0.35% 203,498 0.26% 406,757 0.51% 96.05.07 3 94.06.01-9-

1 2. 2 1 2 3 4 5 6 7 8 9 10 3 1 2 ( ) 3 4 5 6 7 8 9 30 10 27 3. 4. -10-

() -11-99 04 20 % ( ) 95.08 1,248,295 1.57181,531 0.23% 98.06 624,376 0.78 1,114 0.00% 98.06 72,309 0.09 0 0.00% 98.06 38,169 0.05 0 0.00% 98.06 47,948 0.06 0 0.00% 98.06 110,960 0.14 0 0.00% 95.01 151,991 0.19 91.07 129,273 0.16 48 92.08 375,048 0.47 19,329 0.03 () 98.08 244,530 0.31990,993 1.25

( ) 92.11 43,000 0.05 ( ) UNIVACCO FOILS (HOLLAND) B.V. UNIVACCO TECHNOLOGY (M) SDN.BHD. APOLLO INVESTMENT LTD. () (1) ( ) ABCD ABCD EF G (A) (G) (B) (C) (D) (F) (E) (H) 720 720 1,567 1,567 154 154 3.54% 3.54% 7,540 7,882 42 42 1,693 1,693 190,000 190,000 16.98% 17.47% -12-

(A+B+C+D) (A+B+C+D+E+F+G) I J 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 7 7 7 7 (2) ABC D (A) (B) (C) (D) 360 360 296 296 66 66 1.05 1.05-13-

(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 3 3 (3) ABC D (A) (B) (D) (C) 3,085 3,085 28 28 26 26 577 577 5.385.3862,500 62,500-14-

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 1 1 (4) 769 769 1.11% -15- % (1) (2) B. 97 20,811 21,238 13.06% 13.33% 98 12,438 12,780 18.02% 18.52% A.

10A (%) / 10 0 100.00 10 0 100.00 6 4 60.00 9 1 90.00 (98.06.19 ) 6 0 100.00 9 0 90.00 10 0 100.00 10 100.00 9 90.00 9 90.00 14 3 (1) (2) (%) / 10 100.00 9 90.00 9 90.00-16-

-17- () () () () () () () () () () () () ( ) () ()

敍 -18-

-19-1.

-20-2. 12 581395 7

96 11 ( ) -21-

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82.02 95.08 92.08 98.08 98.08 92.11-26-

98.01.01~98.12.31 1 2,000 180 180 2 2,000 4,000 3,120 3,120 3 4,000 6,000 4 6,000 8,000 5 8,000 10,000 6 10,000 凃 1. ( ) -27-

() () ( ) 2. 3. 98 99 4 20 / / / / -28-

98 99 4 20 / / / / 313,448 330,000 167,475 185,000 81,156 (10,000) (10,544) (65,000) (474,967) 11,985 31,839 31,317 83,000 1. 2. 98.05.13 41,000 25.90 99.03.24 25,000 32.20 99.03.24 40,000 32.20 98.09.02 500,000 24.20-29-

99 04 20 凃 4,125,876 5.18% 2,782,445 3.50% 149,151 0.19% 1. 1. 2. 2. 1,500,000 1.88% 1,400,000 1.76% 1,248,295 1.57% 1,049,524 1.32% 1,019,729 1.28% 1,001,000 1.26% 990,993 1.25% 244,530 0.31% 871,000 1.09% 34,000 0.04% -30-

-31-

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() 86 10 1,000 80 80,000 80 80,000 25,000 86 2604195 89 8 10 13,500 135,000 9,380 93,800 13,800 (89) 89489008 90 4 14 13,500 135,000 12,500 125,000 31,200 (090) 9001163610 90 7 10 14,500 145,000 13,750 137,500 12,500 (090) 9001314280 91 2 18 14,750 147,500 14,750 147,500 10,000 09101083780 91 5 10 15,900 159,000 15,900 159,000 11,500 09101190230 91 6 18 23,500 235,000 17,900 179,000 20,000 09101283550 91 8 28 23,500 235,000 19,900 199,000 20,000 09101362990 91 9 10 24,180 241,800 24,180 241,800 39,800 09101399200 3,000 92 5 10 40,000 400,000 29,016 290,160 48,360 09201155030 92 5 30 40,000 400,000 35,016 350,160 60,000 09201155030 93 2 30.5 46,000 460,000 37,616 376,160 26,000 93 7 10 70,000 700,000 43,720 437,204 94 8 10 70,000 700,000 46,343 463,436 95 7 10 70,000 700,000 48,197 481,974 96 4 16.7 70,000 700,000 49,267 492,674 96 5 38 70,000 700,000 55,511 555,114 62,440 96 5 16.7 70,000 700,000 56,186 561,864 96 7 10 70,000 700,000 59,596 595,957 97 4 14.4 100,000 1,000,000 60,397 603,972 09331797440 0920161556 49,759 09332342880 0930121366 11,285 17,488 09432758550 0940124658 8,744 09432758550 18,537 0950123904 09632029780 10,700 09601159230 0960019441 09601173980 6,750 28,093 09601182780 6,000 0960028778 09701093680 8,015 97 4 50.9 100,000 1,000,000 61,348 613,481 9,509 09701093680 97 7 14.4 100,000 1,000,000 61,390 613,896 09701177820 415-33-

() 97 8 10 100,000 1,000,000 66,210 662,097 31,217 0970031759 09701210020 16,983 98 5 10 100,000 1,000,000 66,762 667,622 98 7 10 100,000 1,000,000 66,941 669,409 98 10 10 100,000 1,000,000 67,822 678,219 09801103270 5,525 09801163760 1,788 8,025 09801238080 785 98 11 10 160,000 1,600,000 72,406 724,062 45,843 09801254500 99 2 10 160,000 1,600,000 77,350 773,502 99 4 10 160,000 1,600,000 78,642 786,422 49,275 09901017430 165 12,715 09901077620 205 99 4 20 947,690 99 04 20 / 79,589,873 80,410,127 160,000,000 99 04 20 / 2 25 10,765 14 10,806 230,000 5,331,286 73,419,140 609,447 79,589,873 0.29 6.70 92.25 0.76% 100.00% -34-

9904 20 / 1 999 2,704 487,853 0.61% 1,000 5,000 6,012 12,884,948 16.19% 5,001 10,000 1,026 8,244,505 10.36% 10,001 15,000 340 4,311,145 5.43% 15,001 20,000 234 4,374,097 5.50% 20,001 30,000 171 4,345,958 5.46% 30,001 50,000 142 5,688,545 7.15% 50,001 100,000 90 6,282,720 7.89% 100,001 200,000 43 5,796,885 7.28% 200,001 400,000 25 6,617,259 8.31% 400,001 600,000 8 3,942,720 4.95% 600,001 800,000 1 624,376 0.78% 800,001 1,000,000 2 1,861,993 2.34% 1,000,001 8 14,126,869 17.75% 10,806 79,589,873 100.00% 99 04 20 / 凃 4,125,876 5.18% 2,782,445 3.50% 1,500,000 1.88% 1,400,000 1.76% 1,248,295 1.57% 1,049,524 1.32% 1,019,729 1.28% 1,001,000 1.26% 990,993 1.25% 871,000 1.09% -35-

97 98 57.60 35.00 37.10 11.50 12.60 26.55 33.65 28.04 31.71 3 31 23.18 21.94 22.64 22..58 21.94(2) ( ) 68,756 68,046 74,298 2.46 1.01-0.70 2.32 (2) 0.60(1) 0.81 (2) 0.60(1) 13.68 27.76 56.08 34.62(2) 1.78% 2.89%(2) 1 98/06/19 298-36-

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(1) (2) (3) 1.01 (4) 98 3 26 986 19 1,200,000 1,200,000 12,000,000 12,000,000 2,293,526 2,293,526 4,288,058 4,288,058 99 04 20 97/02/19~ 97/08/01~ 97/11/03~ 97/04/18 97/09/24 97/12/30 30.87~71.89 20.58~49.65 9.84~24.06 1,001,000 2,342,000 1,539,000 47,454,565 49,777,878 25,034,256 0 ( ) 2,342,000 1,539,000 1,001,000 1,001,000 1,001,000 1.26% 1.26% 1.26% % -38-

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99 04 20 0930136261 4,000 5.03 % 2 50% 3 75% 4 100% 3,434,750 51,644 59 10.9 % 0.07-41-

99 04 20 340 0.43340 16.7 14.4 12.3 5,109 0.43% () -42-

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() 1. (1) A. B.SMD (2) 98 1,042,344 68.79% 272,780 18.00% 200,234 13.21% 1,515,358 100.00% (3) ( A. ( PVCPP ) B. C. (A)PET PVC (B)OPP DM( ) D. (A)PVC PVC (B)PET PET E. PET PET (/ ) F. PET -44-

G. H. A. SMDSurface Mounting Devise PI B. : Diffuser C. LCD Hard-coatAnti-glareAnti-smudge D. BEF & Diffuser & Reflector E. LED (4) ( ( ) 1. 2. 3. offset uv 4. offset 5. 1. 2. 3. 4. 5. 6. 2. (1) LCD SMD SMD A. Vacuum Coating Vacuum Metalizing 1930 1932 1950 1968 49% 1 13-45-

800 40 10% B. (A)LCD LCD TFT-LCD LCD LCD TV 40% TFT-LCD TFT-LCD 3C SMDSurface Mounting Device SMD Type -46-

(2) A. -47-

B. (A) LCD LCD (B)SMD -48-

SMD Cover Tape Tape & Reel SMD (3) A. 40 産 PDA/Mobile handset B. -49-

(B) LCD VV7 09 2010 60% (C)SMD Tape & Reel 10 (4) A. 5 3 1 AA BB CC DD 75% 3 4 5 4 4 2 2 1 2 3 15% 4 3 4 4 5 2 0 1 3 0 10% 4 2 5 5 0 0 0 0 1 0 10 % 100% 3.25 3.65 4.85 4.1 3.75 1.8 1.5 0.9 2.5 2.25 33% 5 4 3 4 4 0 0 0 0 0 33% 4 4 2 4 4 3 3 0 3 0 33% 2 2 1 2 1 5 4 4 4 4 20 % 100% 3.67 3.33 2.00 3.33 3.00 2.67 2.33 1.33 2.33 1.33 25% 4 5 5 4 2 3 2 1 1 0 25% 2 5 5 5 5 1 1 0 1 2 25% 4 4 5 4 3 1 0 0 1 0-50-

AA BB CC DD 20 25% 2 3 5 4 2 1 1 1 1 0 % 100% 3 4.25 5 4.25 3 1.5 1 0.5 1 0.5 10 % 25% 4 5 5 4 3 4 3 1 3 0 25% 2 5 5 5 5 1 0 0 0 1 25% 3 5 5 5 3 1 0 0 1 0 25% 1 4 5 4 2 1 0 0 2 0 100% 2.5 4.75 5 4.5 3.25 1.75 0.75 0.25 1.5 0.25 50% 4 5 5 4 4 1 1 1 1 1 20 50% 3 3 4 4 2 2 2 2 2 2 % 100% 3.5 4 4.5 4 3 1.5 1.5 1.5 1.5 1.5 33% 4 5 5 4 4 4 2 2 3 3 33% 3 4 5 4 4 2 2 1 2 3 33% 4 3 3 3 3 5 5 4 4 3 20 % 100% 3.67 4.00 4.33 3.67 3.67 3.67 3.00 2.33 3.00 3.00 3.34 5 3.96 4.15 3.91 3.23 2.22 1.79 1.25 1.92 1.52 B. (A) Flat Panel Display 3C (monitornote bookdigital Camracell phone ) FPD EE FF GG HH (B)SMD SMD II JJ KK LL -51-

MM EE NN 3. (1) (2) A. (A) (B) B. (A) -52-

(B) (C) 2002 C. / D. (3) 21 99 03 31 3 17 1 21 (4) A. 94 95 96 97 98 40,088 32,498 53,353 57,924 68,839 965,921 1,034,051 1,387,905 1,466,953 1,515,358 4.15 3.15 3.84 3.95 4.54% B. 1.PH05.4 for plastic of hologram---- 2.PH08.1 for data card---- ID or Data 3.KF04.1 ---- 4.PH02.6 ---- 94 5.RSL-10 ---- 6. 7. 8. -53-

1. 2. 3. 4. 5. 95 6. 7. 8. 9. 10. 11. 1.725D ---, DOP 2.WAX ---, T 3.OF-01 96 4.729-1 ( ) 5.IC 6. 1. 2. 3. 4. 97 5. 6. 7.NB 8.Low E Film 1. 2.offset 98 3. 4. 5. silicone -54-

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1. (1) 97 98 68,683 4.68% 106,279 7.01% 404,113 27.55% 464,647 30.66% 448,604 30.58% 460,280 30.37% 9,060 0.62% 13,292 0.88% 11,208 0.76% 3,865 0.26% 525,285 35.81% 466,995 30.82% 1,466,953 100.00% 1,515,358 100.00% (2) 2005 2.76% -57-

BB CC AA QQ AA ( RR) 32 98 ( ) 10.42 29.22% 10.9 98 3.11 28.53% 50% 52% 12% 10% 5% 5% 16% A. EE LCD 2004 3C B. SMD 15% EE MMNNIIJJSS 20% (3) BB DD 2008 2010 A. 3-58-

B. SMD SMD 10% SMD (4) A. (A) BB CC AA TT DD UU 91 98 10.1 (1) ( ) (a) (b) (..) (2) -59-

1 95 SOP 95% 2 96 97 98 106,930 229,271 288,657 ( ) 952,589 911,427 981,315 11.23% 25.16% 29.42% 3 PSP 96 97 98 PH06.1 727 717 PET H06 PH2.2-60-

96 97 98 A-367costdown CF3.0 RSL-03 11u 12u CF4.1 costdown H04H06 4 80% UNIVACCO (B) 91 93 94 95 SMD Cover Tape (1) 1 15% Monitor 殻 NoteBook 2LCD 96 LCD -61-

3SMD IIJJ II JJ SMD End-user 4 A. VV1VV2VV3 RR VV4VV5 VV6VV7 VV1 VV2 VV3 RR VV4 VV5 VV6 VV7 1 19 ( ) 3000Nit 2900-3000Nit 2800-2900Nit 2 3 B. -62-

(2) 1SMD Cover Tape SMD Cover Tape 2 IMF(In Mold Film)In Mold Folm IMF (3) 95 (1) 1LCD LCD IEK 2004 2009 LCD 35% LCD, 2 3 (2) 1 2003 (UNIVACCO) (a) (b) -63-

2 (a) UNIVACCO (b) (c) 3 (a) (b) 2. (1) D LED SMD LCD LCD -64-

(2) : A. / / / :, -65-

B. LCD (A)SMD (B) (C) (D) 3. / PET XX1 PET XX2 97 98 99 1 SAMOA % 293,292 19.99% SAMOA % % 224,221 14.80% SAMOA 57,636 13.90% 2 192,388 13.11% 101,539 6.70% YY 43,046 10.38% 981,274 66.90% 1,189,598 78.50% 314,082 75.72% 1,466,954 100.00% 1,515,358 100.00% 414,764 100.00% -66-

1 97 98 99 % % % 1 XX1 157,970 20.69% XX2 206,430 23.92% XX2 80,341 32.12% 2 XX2 109,739 14.37% XX1 128,997 14.95% XX1 39,141 15.65% XX3 90,409 10.48% 495,886 64.94% 437,126 50.65% 130,610 52.23% 763,595 100.00 % 862,962 100.00 % 250,092 100.00% 1 M 2 97 98 ( ) 148,250 552,994 155,688 516,167 49,966 226,558 43,594 188,661 11,345 25,336 9,069 17,160 0 0 0 0 4,601 121,552 2,080 65,632 4,368 329,930 5,716 392,530 4,593 141,253 3,015 159,084 223,123 1,397,623 219,163 1,339,234-67-

M 2 97 98 ( ) 28,516 148,106 84,225 417,555 33,608 138,255 93,205 472,419 20,671 131,129 20,388 173,998 11,850 76,380 28,448 213,051 11,249 40,492 0 0 9,045 28,693 0 0 0 0 0 0 27,855 52,405 75 286 0 9 689 90,879 0 5 473 60,782 18 72 0 66 17 68 0 0 183 15,027 2,746 136,670 96 6,254 2,418 86,174 1,131 146,993 346 46,324 1,298 129,673 477 48,943 0 0 0 0 45 354 109 621 0 0 0 0 1 2,933 0 0 367 43,457 1,519 76,176 275 31,975 1,744 166,087 62,135 525,285 109,913 941,668 84,090 466,995 126,949 1,048,363-68-

99 3 31 97 98 99 3 31 30 29 29 293 297 290 59 58 61 25 21 21 407 405 401 34 33.8 33.9 4.3 4.7 4.8 0.49% 0.49% 0.50% 4.91% 5.93% 5.24% 49.14% 50.37% 50.87% 45.21% 43.21% 43.14% 0.25% 0% 0.25% (1) A. B. (: ) C. D. E. F. (2) A. B. -69-

(3) A. B. (4) : 2010.01.01~ 2010.12.31 2010.01.01~ 2010.12.31-70-

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0 () $509,141 0 () 509,141 0 () 509,141 0 () 509,141 122

( ) $1,012,952 25,188-123

- $ - $ - 15,000 124

() () 100% $224,221 100% 125

$100,908 2.06 $ - - $26,540 $ - 126

127 23,690 100% $1,012,952 $1,023,178 $(767) $(767) 1,005 1,005 30 100% 25,188 27,801 12,432 38,329 38,329 8 100% 5,715 5,715 (19,570) (19,570) 150,000-15,000 100% 142,862 142,862 (7,138) (7,138) 157 32.67 % 360 900 (6,044) USD (129) USD 42 USD 39

USD (61) USD 26 MYR 198 USD 24 ( ) USD (137) - (83) USD 99 128

厢 129

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132 ()

() () 100% $224,221 USD 3,423 USD 3,756 RMB 54,784 133

() () USD 3,423 101,539 100% USD 3,756 RMB 54,784 134

135

136-100% USD 2,243 - - 100% 100% - - 66.87% - - - - 66.87% 66.87% 35% 100%

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( ) - UNIVACCO TECHNOLOGY (CAYMAN) INC. 180

157 32.67 % 360 900 (6,044) UNIVACCO USD 26 TECHNOLOGY (CAYMAN) INC. 厢 USD 539 181

- 100% USD 2,243 - - 100% 100% - - 66.87% - - - - 66.87% 66.87% 35% 100% 182

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( ) ( 20% ) 1. 2. - 188

() (%) ( 20% ) 1. 2. 3. 4. 189

1. 98 12 31 97 12 31 () 17.66 35.79 (50.66)% 41.23 37.79 9.10% 3.65 10.03 (63.61)% 2. ( ) 2. 190

1. - 2. TAI LENG INDUSTRY INC. (BVI) UNIVACCO HOLDING EUROPE B.V. $ 625,534 $ ( 767) () 38,329 ( 19,570) () 150,000 ( 7,138) () 1. / 98 97 27,747 27,370 ( ) 9,613 12,534 1,515,358 1,466,953 1,048,363 941,668 1.83 1.87 ( )(0.63) 0.85 69.18 64.19 191

192 (1) A. B. (A) (B) (2) A. 64.19 69.18 B. (A) (B) (C) (D) (E) (F) (3) A. B.

2. (1) (2) (A) (B) 193

(C)... 241 0 ; 34 108 (3) 3. offset uv offset 4. (1) A. 25% 20 B. (IFRS) IFRS IFRS (2) ( ) ( ) 194

5. (1) (2) (3) 6. (1) (2) 7. 8. 9. (1) µ 195

UNIVACCO TECHNOLOGY INC. 98 14.80% 100% 10% 10. 11. 12. (1) (2) 13. 196

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