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93 4 93 36,301 11.36% 94 2,955 1.12% - 2001 20059 13.18% 13.58% 93 BVI Wellypower Optronics Corp. 31,742 2,610 0.51%94 1,079 0.45% -36-

( WEEE) (2002/96/EC) ( RoHS ) (2002/95/EC) 2006 7 1 5mg 17-19 2.6mg TV 3mg TFT-LCD TFT-LCD TFT-LCD (EEFL) (LED) -37-

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91 957,932 92 93 1,023,925 2,035,442 6.89%112.48% 91 71,139 9293 103,283 265,423 91 1.08 9293 1.34 3.34 91 9293 91 497,811 9293 722,612 692,949 94 95 95 06 260,461 11,177 31,395 74,689 95,786 39,013 8,401 94 12 105,239 - - - 105,239 - - 365,700 11,177 31,395 74,689 201,025 39,013 8,401-81-

95 96 97 142,800 142,800 125,280 103,680 101,376 96,000 (39,120) (41,424) (29,280) (27.39%) (29.01%) (23.37%) 410,880 301,056 (109,824) (26.73%) -82-

-83-94 93 1,699,290 946 2,208,098 93 692,949 94 1,410,909

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0940151911 4 2 TFT-LCD 93 92 98.79%94 93 34.72% 3 89 592,871 93 2,035,442 243.32% 89 566,800 93 793,970 40.08% % 89 90 91 92 93 592,871 604,868 957,932 1,023,925 2,035,442 566,800 617,570 655,970 793,970 793,970 8.42 8.12 12.48 14.58 40.60 595.01 600.99 391.08 425.46 168.86 (3) 94 95 95 1 94 12 2 741,132 2.495% 18,491-85-

11,764 119,510 9.84% 94 94 94 12 741,132 - - - 741,132 741,132 - - - 741,132 741,132 2.495% 18,491-86-

/ 304,086 911,525 251,871 767,518 537,746 851,942 853,809 810,603 664,093 770,451 866,495 498,158 304,086 40,774 48,423 33,979 26,505 20,194 3,561 3,659 11,734 8,349 4,339 5,451 5,346 212,314 193,718 149,882 185,081 185,444 188,622 199,825 202,889 216,682 187,623 180,281 204,607 204,715 2,299,369-26,631 60,366 30,935 - - 51,522 2,690 61,932 72,211 - - 306,287 - - 411,969-320,000 - - - 30,488 - - - 762,457 234,492 224,936 691,395 242,884 528,816 203,386 258,070 231,106 288,392 256,831 210,058 210,061 3,580,427 35,782 241 61,809 538 740 140 27 25 15 272 150 150 99,889 116,515 148,856 84,970 197,814 181,510 160,522 158,592 195,135 178,611 141,889 184,656 184,864 1,933,934 22,679 15,788 15,468 15,833 15,600 15,675 17,948 17,948 - - - - 136,939 - - - - - - - - - - 266,400-266,400 92,262 2,759 8,418 22,171 7,562 1,662 36,111 5,783 3,408 7,297 32,000 31,786 251,219 6,416 - - - 8,508 22,820 - - - - 95,189 36,340 169,273 15,958 466,946-180,000 - - - - - - - - 662,904 289,612 634,590 170,665 416,356 213,920 200,819 212,678 218,891 182,034 149,458 578,395 253,140 3,520,558 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 589,612 934,590 470,665 716,356 513,920 500,819 512,678 518,891 482,034 449,458 878,395 553,140 3,820,558 (51,034) 201,871 472,601 294,046 552,642 554,509 599,201 522,818 470,451 577,824 198,158 155,079 63,955 - - - - - - - - - - - - - (85,441) (250,000) (5,083) (56,015) (700) (700) (84,100) - - - - - (482,039) - - - (285) - - (4,498) - - - - - (4,783) - - - - - - - - - (11,329) - - (11,329) - - - - - - - (158,725) - - - - (158,725) 748,000 - - - - - - - - - - 741,132 1,489,132 662,559 (250,000) (5,083) (56,300) (700) (700) (88,598) (158,725) - (11,329) - 741,132 832,256 911,525 251,871 767,518 537,746 851,942 853,809 810,603 664,093 770,451 866,495 498,158 1,196,211 1,196,211-87-

/ 1,196,211 973,442 952,188 875,840 979,788 716,277 793,396 858,873 474,073 585,013 463,001 433,307 1,196,211 1,264 1,326 1,363 1,389 1,464 1,534 1,589 1,630 1,725 1,812 1,880 2,293 19,269 251,550 263,810 271,335 276,406 291,378 305,335 316,297 324,469 343,361 360,618 374,097 456,249 3,834,905 15,575 20,283-147,606-225,156 216,012 110,892 258,416 164,148 185,586 180,664 1,523,338 - - - - - - - - - - - - - 268,389 285,419 272,698 425,401 292,842 531,025 533,898 436,991 603,502 526,578 561,563 639,206 5,377,512 16 10 10 10 10 10 10 10 10 10 10 10 126 382,718 277,983 276,533 309,083 338,949 360,546 433,931 466,655 492,552 550,520 567,247 580,800 5,037,517 - - - - - - - - - - - - - - - - - - - - - - - - - - 108,424 28,680 64,730 12,360 13,600 93,350 34,480 1,280-98,060 24,000-478,964 - - 7,773-203,794 - - - - - - - 211,567 - - - - - - - - - - - - - 491,158 306,673 349,046 321,453 556,353 453,906 468,421 467,945 492,562 648,590 591,257 580,810 5,728,174 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 791,158 606,673 649,046 621,453 856,353 753,906 768,421 767,945 792,562 948,590 891,257 880,810 6,028,174 673,442 652,188 575,840 679,788 416,277 493,396 558,873 527,919 285,013 163,001 133,307 191,703 545,549 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (7,825) - - - - (7,825) - - - - - - - (17,836) - - - - (17,836) - - - - - - - (328,185) - - - - (328,185) - - - - - - - - - - - - - - - - - - - - (353,846) - - - - (353,846) 973,442 952,188 875,840 979,788 716,277 793,396 858,873 474,073 585,013 463,001 433,307 491,703 491,703-88-

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(1) 94 6 30 8990919293 3 592,871 604,868 957,932 1,023,925 2,035,442 1,222,712 164,763 137,051 246,176 269,099 690,697 361,905 119,721 58,359 152,059 167,372 513,497 237,259 34,356 59,308 18,257 24,114 50,170 91,876 4,335 8,531 106,963 64,786 243,981 64,226 149,742 109,136 63,353 126,700 319,686 264,909 121,401 99,015 71,139 103,283 265,423 222,355 - - - - - - - - - - - - - - - - - - 121,401 99,015 71,139 103,283 265,423 222,355 (2) 1.76 1.43 1.02 1.27 3.17 1.95 189-93 2 94 89 90 91 92 93 93-91-

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92 93 %(1) %(1) %(2) - - - - - - 94,168 5.31 66,666 3.76 3,550 0.20 1.4 - - - - - - 93 93-94-

92 93 %(1) %(1) %(2) 1% 2% 100% () 1. 151 170 2. 171 193 () 195 221 () 94 221 245 () () () () -95-

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2. 93 92 93 () % 56.48 15.46 (72.63%) 16.65 20.08 20.60% 1.98 3.75 89.39% 3. 95 ( ) 1,196,211 5,377,512 (6,082,020) 491,703 - - (1) ( 94 ) : A. LCD B. C. (2) 704,508 95 1,196,211 491,703 () 1. 2. 93 92 98.79% 156.67% -97-

-98- () 931231 ( ) BVI Wellypower Optronics Corp. USD5,153 () BVI Apower Optronics Corp. USD7,144 ()

-99- () 1. 91 1. 2. 92-93 (1) (2) 2. (1) 2. () 113 () 1. 6() 2. 114 3. 117 148-149 ( ) ( ) 136 145 95

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( ) 85,482,842 113,397,000 75.38% () () () () () 11,764,000 10 267 () () () () -134-

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() 1. () 2.BVI Wellypower Optronics Corp. 3.BVI Apower Optronics Corp. 4. 5. ( ) 6. () 7.AU Optronics(L) Corp. () 1. 2. 3. () 4. () 5. 6. 7. 8.Gainsplus Asset Management Inc. 9. 10. 11. 12. 13. 14. 15.AU Optronics Corporation America 16. AU Optronics Corporation Japan 17.AU Optronics (Suzhou) Corp. 18. AU Optronics Europe B.V. 19.AU Optronics Korea Ltd. 20. -137-

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() Global Insight 8 2004 2004 2005 4.0% 3.2% 2005 2006 3.2%2.8% 2004 1.9% 2005 2006 1.2%1.8% 2005 2005 2006 1.2% 1.0% ( )2004 2005 2006 5.8% 31.3% 57.7% 11% 3.67 10.86% 0.6% 5.0% 89.1% 11 7 10 10 343.2 12.8% 16.6% 179.3 9.0% 163.9 15.4 363.8% 92 11 3 9 32.92 8 34.12 9 8 3.5% 1 9 19.4 69.5% 2005 () GDP -2-

60 9 6 10 94 8 9 89 5.1 8.8 9 % 10 %11 %12 % % 1995 4.6 (4.3) (0.8) 6.9 1.5 1996 2.9 (1.2) 6.2 1.6 6.6 1997 (10.7) (16.0) 6.6 5.0 (6.0) 1998 4.3 4.9 0.2 (10.6) (6.1) 1999 (6.9) 3.4 (1.7) 9.4 11.2 2000 (18.8) (8.5) (7.1) (9.9) (23.4) 2001 (19.3) 7.7 13.4 25.0 52.6 2002 (12.0) 7.3 3.3 (4.2) 6.2 2003 (5.9) 6.2 (4.5) 2.1 3.5 2004 1.4 (2.4) 2.4 5.1 5.0 (6.0) (0.3) 1.8 3.0 5.1 (10.9) 2.1 1.5 3.6 8.8 2005(E) 1.4 - - - - 4 () () LCD IT () (CCFL) CCD LCD (CCFL) -3-

LCD (CCFL) 1. (MFP) 2004/09 2004 2005 2.LCD TFT-LCD LCD (PIDA 2004/12) LCD 2004 2003 29.31% 2005 2004 26.90% LCD TV 2004 89.30% () 1. LCD NB LCD Monitor LCD TV Internet Broadband Wireless LCD Handset Navigator IA LCD LCD LCD 2. LCD 3. Harrison (TOSHIBA Lightech ) West 2002 CCFL Inverter 4. LCD LCD LCD -4-

LCD LCD () (CCFL) (LED) (OLED) (EL) (LED) (OLED) CCFL( ) LED( ) OLED( LED ) LED EEFL( INVERTER( INVERTER( ) ) ) ITIS (2004/8) 1.LED( )OLED( ) CCD LCD LCD LEDOLED EL LCD LED OLED OLED LCD LCD LCD LCD 2.EEFL( )FFL( ) Inverter Inverter -5-

Inverter EEFL Inverter CCFL Harrison EEFL CCFL FFL OSRAM PLANON FFL LCD () 1. 40 (Harrison Toshiba )Stanly NEC (1) (2) (3) 2. EEFL( )FFL 2020 (1) 2002 1 (WEEE) (2002/96/EC) (RoHS) (2002/95/EC) 2004 8 13 2006 7 1 ( (PBB) (PBDE)) 2006 7 1 5mg 17-19 2.6mg TV 3mg 2010 RoHS LED OLED -6-

(2) (LED) (OLED) (EEFL) (FFL) A. - (CCD )LCD 90 780 LCD TV B. -CCFL (EEFL) (FFL) (A) EEFL(External Electrode Fluorescent Lamp) (EEFL) EEFL Inverter (B) FFL(Flat Fluorescent Lamp) 8mm 30 (FFL) CCFL a.cnt ( ) b. ( ) 3. LCD TV LCD LCD Wellypower -7-

-8- TFT-LCD CRT TFT-LCD () LCD 6,500 () 1. (1) : TFT-LCD TFT-LCD 21 PC TV 2005 20 26 32 (2) LCD-TV 2005 85%2006 95% (3) U 2005 1300mm ( 850mm) U (4) 2005 (5)EEFL( ) EEFL CCFL

(6) FFL( ) CNT-Backlight( ) FFL CNT-Backlight CCFL LCD 938 9412 A.LCD TV B. (CNT BL) C. LCD TV 20 CNT BL 2FFL 2-3 2. ( ) (1) 83 87 (2) / 91 92 93 () 1 1 2 7 11 9 () 1 1 8 13 12 947 25-9-

(3) 91 92 93 (A) 5 8 13 (B) 5 7 3 (C) 2 2 4 8 13 12 (C/(A+B)) 0.2 0.13 0.25 () 1.9 1.3 1.96 ; (4) 91 92 93 (A) 10,936 17,618 25,027 (B) 957,932 1,023,925 2,035,442 A/B(%) 1.14% 1.72% 1.23% (5) 91 1. for LCD 1. 2. Aperture 2. 30% 3. 3. Ni-cup LCD 92 1. for LCD TV 1. Invrter EEFL( ) 2. for 25 LCD TV 2. 2005 CCFL 93 1. 25 TV 1. 2005 2. 2005 2. for 30 LCD TV 3. CCFL 3. for LCD TV U -10-

CCFL 93 () ( ) () 1. () 91 92 93 126.41 3,496.07 140.57 3,545.61 156.37 4,039.71 () 191 205 290 90.43 2,500.93 95.10 2,398.84 111.14 2,871.36 () 267 303 408 92 93 2. A. 91 92 93 94 10 168 267 303 408 121 87 159 137 22 51 53 68 - - - - - - 1-267 303 408 477 191 205 290 320 76 98 118 157 2.39 2.73 2.65 2.79 30.37 30.22 29.81 30.11-11-

11.47%12.48% 92 3. B. 91 92 93 94 10-3 - - 4 14 11 20 18 34 42 48 22 51 53 68 () 7.61% 14.41% 11.47% 12.48% = /( + ) 94 10 7.61%14.41% % 91 92 93 % % % - 88,463 61.91 114,437 64.22 167,252 65.97-19,791 13.85 16,348 9.17 29,636 11.69-34,633 24.24 47,416 26.61 56,658 22.34 142,887 100.00 178,201 100.00 253,546 100.00 142,887 178,201 253,546 70%~80% - 24.24%26.61%22.34% 4. 94 91 92 93 10 % % % % () 1 0.37 1 0.33 2 0.49 6 1.26 71 26.59 95 31.35 152 37.25 209 43.82 () 160 59.93 172 56.77 225 55.15 239 50.10 () 35 13.11 35 11.55 29 7.11 23 4.82 267 100.00 303 100.00 408 100.00 477 100.00-12-

(1) 92 28.00%33.57%30.13%92 (2) () 1. % 91 92 93 % % % 375,303 57.21 367,461 50.03 687,451 55.73 96,991 14.79 120,471 16.40 174,375 14.14 183,711 28.00 246,507 33.57 371,767 30.13 656,005 100.00 734,439 100.00 1,233,593 100.00 57.21%50.03%55.73% 91 92 93 14.79%16.40%14.14% 93 92 91 92 93 PCS 139.07 135.86 132.44 HARNESS PCS 8.83 9.65 8.59 BULB KG 894.81 807.19 816.14 KG 3,207.18 3,210.65 3,976.53 92 93 93-13-

(3) 2. (1) 91 92 93 % % % 2,177 1.43 8,120 4.85 36,301 7.07 152,059 100.00 167,372 100.00 513,497 100.00 91~93 1.43%4.85%7.07% 93 (2) % 91 92 93 % % % 605,676 63.23 525,289 51.30 1,133,188 55.67 352,256 36.77 498,636 48.70 902,254 44.33 957,932 100.00 1,023,925 100.00 2,035,442 100.00 36.77%48.70%44.33%91 LCD 92 LCD 92 91 93 92 % 91 92 93 % % % 385,255 70.70 259,459 70.63 515,996 55.13 159,651 29.30 107,913 29.37 419,934 44.87 544,906 100.00 367,372 100.00 935,930 100.00 70.70%70.63%55.13% HARNESS GETTER 9192 93-14-

A. B. C. -15-

() 1. 91 92 93 94 % % % % 1 BVI 165,810 17.31 BVI 166,392 16.25 BVI Wellypower Wellypower Wellypower 301,209 14.80 164,942 13.49 2 92,893 9.70 ( ) 72,306 7.06 192,236 9.44 ( ) 137,619 11.26 3 83,803 8.75 71,195 6.95 129,692 6.37 136,657 11.18 4 ( ) 74,570 7.78 ( ) 69,291 6.77 ( ) 117,261 5.76 BVI Apower 103,388 8.46 5 68,534 7.15 66,584 6.50 110,078 5.41 ( ) 95,960 7.85 6 60,108 6.27 ( ) 60,808 5.94 AUL 108,397 5.33 BVI Wellypower 95,702 7.83 7 48,506 5.06 56,817 5.55 ( ) 107,323 5.27 80,037 6.55 8 44,044 4.60 39,463 3.85 70,321 3.45 60,910 4.98 9 38,400 4.01 37,021 3.62 68,110 3.35 38,090 3.12 10 32,993 3.44 32,104 3.14 ( ) 66,725 3.28 ( ) 28,268 2.31 248,271 25.93 351,944 34.37 764,090 37.54 281,139 22.97 957,932 100.00 1,023,925 100.00 2,035,442 100.00 1,222,712 100.00 2. (1) -BVI Wellypower Optronics Corp.BVI Apower Optronics Corp. A.BVI Wellypower Optronics Corp.( BVI Wellypower) 100% BVI Wellypower - ( ) ( ) BVI Wellypower BVI Wellypower 91 93 94 93 B.BVI Apower Optronics Corp. ( BVI Apower) 92 100% () BVI Apower 82.77% - ( ) ( ( )) 93 94 BVI Apower (2) - ( ) A. 89 91 92 B.Epson Singapore Pte Ltd 90 91 92 38,400-16-

32,104 93 93 94 93 C. ( ) ( ) 100% 91 93 7.78%5.94%3.28% 94 BVI Apower ( ) (3) - ( ) ( ) 93 94 17 A. 91 94 6.27%6.50%6.37%11.18% 93 92 94.78% 93 94 B. 91 48,506 5.06%92 ( ) 93 94 80,037 6.55% C. 91 93 4.60%3.62%3.35% 92 93 92 83.98%94 38,090 3.12% 93 D. 90 93 9.44% -17-

93 94 4.98% 93 E. ( ) ( ) 94 ( ) 2.31% 94 F. ( ) ( ) ( )92 93 94 5.76%7.85%93 94 93 ( ) G. ( ) ( ( ) () ( )92 9293 94 6.77% 5.27%11.26% H. () 9192 93 3.44%6.95% 5.41% 94 LED (4)TFT-LCD - ( )AUL A. ( )AUL 90 91 7.15%92 ( ) ( ( )AUL100% ) 7.06% 93 3 ( ) AUL( 100% ) 5.33%94 (LED) B. 89 91 92 9.70%3.85% 93 C. 93 94-18-

3.45%13.49%94 (5) () 94 92 5.55%93 LED 94 3. 94 74.07%65.63%62.46%77.03% 30% 4. LCD LCD 5. 91 92 93 94 (%) (%) (%) (%) 1 SAES 84,691 15.54 SAES 75,072 20.43 SAES 246,896 26.38 131,400 26.94 2 79,821 14.65 65,321 17.78 212,698 22.73 SAES 93,114 19.09 3 70,453 12.93 53,473 14.56 93,016 9.94 56,543 11.60 4 ITEC 47,770 8.77 46,108 12.55 86,190 9.21 45,365 9.30 5 39,358 7.22 28,309 7.71 BVI 80,653 8.62 ASAHI 34,646 7.10 KYOWA 6 38,034 6.98 BVI 27,960 7.61 58,879 6.29 28,898 5.92 DEVI 7 32,604 6.17 27,460 7.47 ASAHI 54,230 5.79 21,273 4.36 BVI 8 32,998 6.06 17,530 4.77 40,076 4.28 BVI 15,396 3.16 (1) 9 30,292 5.56 7,675 2.09 MATRIS 37,161 3.97 13,817 2.83 10 17,372 3.19 ITEC 7,319 1.99 25,945 2.77 9,930 2.04 70,513 12.93 11,145 3.04 186 0.02 37,357 7.66 544,906 100.00 367,372 100.00 935,930 100.00 487,739 100.00 1: BVI BVI Wellypower Optronics Corp -19-

(1) - 91 92 (2) - 94 92 93 91 92 (3) - ASAHI ASAHI 92 (4) -SAES SAES GETTER SAES 94 (5) -ITEC ITEC 91 92 92 92 93 (6) - 94 (7) - KAOWA DEVI MATRIS 91 92 MATRIS MATRIS 93 94 KAOWA DEVI MATRIS (8)BVI Wellypower Optronics Corp. 94 BVI Wellypower Optronics Corp. 94-20-

6. 94 94 () 92 93 94 92 (%) (%) (%) (%) 1,023,925 435,388 9,300 426,088 2.14 2,035,442 98.79 882,237 16,115 866,122 1.83 1,222,712 894,422 18,510 875,912 2.07 7,531,617 3,188,001 27,677 3,160,324 0.87 11,258,753 49.49 3,932,184 39,080 3,893,104 0.99 8,251,935 6,039,379 59,178 5,980,201 0.98 3,000,267 1,187,732 1,830 1,185,902 0.15 5,783,695 92.77 1,590,589 2,382 1,588,207 0.15 4,091,585 1,447,958 3,032 1,444,926 0.21 4,220,014 2,750,762 34,864 2,715,898 1.27 6,810,975 61.40 3,019,213 33,836 2,985,377 1.12 3,079,030 2,102,753 21,780 2,080,973 1.04 92 93 92 (%) (%) -21- (%) 1,170,117 450,667 14,021 436,646 3.11 2,314,233 97.78 896,944 28,859 868,085 3.22 7,879,061 3,274,506 34,617 3,239,889 1.06 13,828,808 75.51 4,885,137 54,310 4,830,827 1.11 4,142,075 1,577,744 1,830 1,575,914 0.12 8,760,579 111.50 3,078,118 2,382 3,075,736 0.08 4,907,640 2,720,033 35,181 2,684,852 1.29 7,405,523 50.90 2,985,210 36,874 2,948,336 1.24 1. 94 426,088 866,122 875,912 93 92 103.27% 93 92 93 1,023,925 2,035,442 93 92 98.79%94 6 93 9,790 94 詃 94 1,222,712 93 1,127,852 94,860 BVI Apower Optronics Corp. ( ) 93 12 92 92 BVI Wellypower Optronics Corp. BVI Apower Optronics Corp. () 436,646 868,085 93 92 98.81% 93 92 97.78% 2. 30 1%31~60 2%61~90 3%91~360 4%361 100%

30 1%31~60 2%61~90 3%91~120 4%121~180 10%181 ~1 15% 1 100%BVI Wellypower BVI Apower 100% 90 120 120 93 92 79.08%94 93 14.86% 93 94 94 2.14%1.83%2.07% ( ) ( ) 92 93 93 93 92 105.83% 93 94 2.14%1.83%2.07% 3.11%3.22% 3. (1) 92 93 94 % % % 339 0.08% 963 0.11% 137 0.02% 92 339 93 94 963 137 (2) 946 941015 946 0.07% -22-

( ) 946 941015 30 94 6 () : 92 93 94 92 % % % % 178,138 26,223 151,915 14.72% 327,870 52,329 275,541 15.96% 81.38% 277,597 77,900 199,697 28.06% 1,103,714 43,776 1,059,938 3.97% 1,299,369 65,195 1,234,174 5.02% 16.44% 1,264,992 72,264 1,190,728 5.71% 525,469 21,374 504,095 4.07% 781,319 136,849 644,470 17.52% 27.85% 808,243 99,769 708,474 12.34% 543,292 32,956 510,336 6.07% 707,215 40,700 666,515 5.75% 30.60% 679,585 47,616 631,969 7.01% : 92 93 92 % % % 250,936 36,145 214,791 14.40% 405,327 56,612 348,715 13.97% 62.35% 1,381,098 45,955 1,335,143 3.33% 1,721,578 93,772 1,627,806 5.45% 21.92% 714,182 29,854 684,328 4.18% 1,305,814 145,013 1,160,801 11.11% 69.63% 743,977 36,650 707,327 4.93% 916,236 48,099 868,137 5.25% 22.73% 1. 93 275,541 348,715 92 81.38%62.35% 93 93 98.79%97.78% 946 199,697 93 27.53% 94 93 2. 94 94 26,223 52,329 77,900 14.72%15.96%28.06% 9293 946 93 94 6 93 93-23-

93 94 6 94 94 14.72%15.96%28.06% 92 92 14.40% 3.33%4.18%4.93% 93 13.97% 92 100% () 1. 94 91 92 93 957,932 1,023,925 6.89% 2,035,442 98.79% 1,222,712 5,375,458 7,531,617 40.11% 11,258,753 49.49% 8,251,935 2,200,171 3,000,267 36.37% 5,783,695 92.77% 4,091,585 1,843,129 4,220,014 128.96% 6,810,975 61.40% 3,079,030 246,176 269,099 9.31% 690,697 156.67% 364,044 1,235,256 1,206,430 (2.33%) 1,912,651 58.54% 896,311 302,769 207,723 (31.39%) 616,772 196.92% 423,337 196,861 591,550 200.49% 894,571 51.22% 185,096 152,059 167,372 10.07% 513,497 206.80% 237,259 1,008,551 875,669 (13.18%) 1,541,501 76.04% 653,812 124,156 (8,406) (106.77%) 315,392 3,851.99% 231,512 (93,203) 287,969 408.97% 586,747 103.75% 18,377 91~93 94 92 93 92 93 LCD -24-

94 1,222,712 907,590 34.72% 94 LCD 92 9.31% (31.39%) (2.33%) 200.49% 9192 25.70%26.28% 93 156.67% 58.54% 51.22% 196.92% 94 364,044 93 297,013 22.57% 1.60% (57.79)% 66.71% 92 10.07% 92 408.97% 93 206.80% 3,851.99% 94 16.96% (8.55)% (93.84)% 91.15% 93 93 92 2. (1) 91 92 93 94 % % % % 881,598 92.03 994,581 97.13 1,817,110 89.27 1,035,055 84.65 () 76,334 7.97 29,344 2.87 218,332 10.73 187,657 15.35 957,932 100.00 1,023,925 100.00 2,035,442 100.00 1,222,712 100.00 : : 91 93 94 881,598 994,581 1,817,110 1,035,055 91 92 93 92 82.70% 93 LCD 93 94 1,035,055 815,165 26.97% 94 LCD (2) 91 92 93 94 % % % % 656,005 92.15 734,439 97.66 1,233,593 92.61 707,110 82.35 () 55,845 7.85 17,625 2.34 98,482 7.39 151,558 17.65 711,850 100.00 752,064 100.00 1,332,075 100.00 858,668 100.00 : : -25-

91 93 94 656,005 734,439 1,233,593 707,110 91 92 93 92 66.94% 94 707,110 561,768 25.87% 94 (3) 91 92 93 94 % % % % 225,593 91.64% 260,142 96.67 583,517 84.48 327,945 90.62 (1) 20,489 8.32% 11,719 4.36 119,850 17.35 36,099 9.97 (2) 94 0.04% (2,762) (1.03) (12,670) (1.83) (2,139) (0.59) 246,176 100.00% 269,099 100.00 690,697 100.00 361,905 100.00 : 1: 2: () 91 93 94 225,593 260,142 583,517 327,945 91 92 93 94 92 94 3. 20% (1) % 94 91 92 93 957,932 1,023,925 2,035,442 1,222,712-6.89% 98.79% 34.72% 246,176 269,099 690,697 361,905 25.69% 26.28% 33.93% 29.60% - 2.30% 29.11% (9.34%) 91 93 94 93 94 20% -26-

(2) 92~93 93 94 () P(Q -Q) Q(P -P) (P -P)(Q -Q) P Q - P Q 764,017 33,092 25,420 822,529 220,201 5,751 (6,511) 219,441 () P(Q -Q) Q(P -P) (P -P)(Q -Q) P Q P Q 564,181 (36,776) (28,251) 499,154 140,890 5,692 (1,564) 145,018 () 323,375 74,423 P P Q Q (3) 93 92 323,375 A. 822,529 (A) 764,017 LCD 92 76.82% (B) 33,092 (MFP) LCD 1.22 (C) 25,420 B. 499,154 (A) 564,181 (B) 36,776 (ES) (CKD) 5.00% (C) 28,251 C. 323,375 93 92 323,375 93 92 323,375 294 93 74,423 A. 219,441 (A) 220,201 94 LCD 93 25.65% (B) 5,751 LCD (C) 6,511 B. 145,018 (A) 140,890 (B) 5,692 (C) 1,564-27-

C. 74,423 94 93 219,441 94 93 74,423 () 1. () () BVI Wellypower Optronics Corp. BVI Wellypower BVI Apower Optronics Corp. BVI Apower ( ) (92.4 ) (92.4 ) ( () ) () AU Optronics (L) Corp.( AUL) 2. (1) 91 92 93 94 6 3,700 0.39 2,721 0.27 1,690 0.08 425 0.03 51 17 () 17,190 1.79 19,025 1.86 BVI Wellypower 165,810 17.31 166,392 16.25 301,209 14.80 95,702 7.83 BVI Apower 11,634 0.57 103,388 8.46 AUL 3,537 0.29 186,751 19.49 188,138 18.38 314,550 15.45 203,052 16.61 1. 92 6 93-28-

2.AUL 94 4 91~93 A.BVI Wellypower BVI Wellypower BVI Wellypower ( ) BVI Wellypower BVI Wellypower 94 0.55 ~1 6 90-120 90 120 180 BVI Wellypower B.BVI Apower () BVI Apower BVI Apower 82.77% BVI Apower BVI Wellypower C. (2) 91 92 93 94 6 BVI Wellypower 32,998 6.06 27,960 7.61 80,653 8.62 15,396 3.16 BVI Apower 6,464 1.33 32,998 6.06 27,960 7.61 80,653 8.62 21,860 4.49-29-

BVI Wellypower 94 BVI Apower 兹 90 (3) 91 92 93 94 6 1,980 1,980 2,840 2,280 822 1,372 1,734 826 1,502 2,671 3,277 3,999 303 2,835 2,503 2,774 100 BVI Apower 10,364 20,065 2,502 539 A. 1 89 5 20 93 9 2 89 5 20 B.BVI Apower - 92 BVI Apower BVI Apower BVI Apower 94 1 BVI Apower C. 89 6 92 4-30-

(4) 91 92 93 94 6 BVI Wellypower 12,650 16,537 34,714 4,911 1,687 BVI Apower 355 426 A.BVI Wellypower BVI Wellypower BVI Wellypower 180 B. () () C.BVI Apower BVI Apower (5) A. % 91 92 93 94 6 % % % % 1,851 0.51 311 0.08 218 0.03 BVI Wellypower 163,312 45.37 136,872 33.51 251,494 29.70 110,015 12.48 1,955 0.54 3,028 0.74 BVI Apower 10,928 1.29 104,095 11.81 AUL 3,033 0.34 167,118 46.42 140,211 34.33 262,640 31.02 217,143 24.63 B. % 91 92 93 94 6 % % % % 132 1.04 132 1.04-31-

Apower (6) % 91 92 93 94 6 % % % % 55 6.73 7 0.39 158 19.34 180 22.03 931 52.48 1,747 6.05 1,852 1.05 BVI Wellypower 365 20.57 BVI Apower 25 1.41 13,609 47.11 143,472 81.69 243 0.84 158 0.09 393 48.10 1,328 74.85 15,599 54.00 145,482 82.83 (7) % 91 92 93 94 6 % % % % BVI Wellypower 18,670 16.54 30,149 15.45 9,288 4.07 BVI Apower 6,495 2.84 18,670 16.54 30,149 15.45 15,783 6.91 BVI WellypowerBVI BVI Wellypower 9212 90 BVI Apower 90 (8) % 91 92 93 94 6 % % % % 3 0.01 838 3.12 841 3.13 (9) % 91 92 93 94 6 % % % % 4 0.01 141 0.13 55 0.05 5,271 9.50 615 1.11 812 1.22 1,343 1.27 3,027 2.71 5,886 10.61 816 1.23 1,484 1.40 3,082 2.76-32-

(10) 91 92 93 94 6 % % % % BVI Wellypower 2,745 37.89 2,745 37.89 91 BVI Wellypower (11) 91 92 93 94 6 BVI Wellypower 365 1,488 BVI Apower 88,200 60,982 168,683 60,786 A.BVI Wellypower 92 BVI Wellypower 365 3 BVI Wellypower BVI Apower ( ) 93 BVI Wellypower 1,488 B.BVI Apower ( ) 92 7 BVI Apower ( ) 88,200 324 9,362 93 12 BVI Apower 94 1 60,786 93 94 BVI Apower 60,982 168,683 93 12 94 BVI Apower (12) BVI Wellypower 92 4 3 92 6 5 90 () 315,910 92.7.14 (92) -33-

93 (13) 91 92 93 94 6 30 BVI Wellypower 34,236 31,742 31,983 31,983 BVI Wellypower USD1,000 2.5% 94 6 30 31,983 BVI Wellypowe BVI Wellypower 2. ( 30% ) 1. () 2.BVI Wellypower Optronics Corp. 3.BVI Apower Optronics Corp. 4. 5. ( ) 6. () 7. () 8. 9. 10. () 11. () 12. () 13. 14. 15.Gainsplus Asset Management Inc. 16. 17. 18. 19. 20. 21. 22.AU Optronics(L) Corp. 23.AU Optronics Corporation America 24.AU Optronics Corporation Japan 25.AU Optronics (Suzhou) Corp. 26.AU Optronics Europe B.V. 27.AU Optronics Korea Ltd. -34-

( ) 50% BVI Wellypower Optronics Corp. TFT-LCD TFT-LCD LCD 92 BVI Apower Optronics Corp. ( 82.77%) 100% ( ) TFT-LCD () ( () ) -35-

() 1. % (2) (2) 91 92 (1) 93 (1) 94 (1) (2) 957,932 1,023,925 65,993 6.89% 2,035,442 1,011,517 98.79% 1,222,712 315,122 34.72% 5,375,458 7,531,617 2,156,159 40.11% 11,258,753 3,727,136 49.49% 8,251,935 3,109,932 60.48% 2,200,171 3,000,267 800,096 36.37% 5,783,695 2,783,428 92.77% 4,091,585 1,815,838 79.79% 1,843,129 4,220,014 2,376,885 128.96% 6,810,975 2,590,961 61.40% 3,079,030 (380,945) (11.01%) 711,850 752,064 40,214 5.65% 1,332,075 580,011 77.12% 858,668 248,091 40.63% 4,140,202 6,319,022 2,178,820 52.63% 9,349,434 3,030,412 47.96% 7,355,624 3,095,842 72.68% 1,897,402 2,792,544 895,142 47.18% 5,150,975 2,358,431 84.45% 3,668,248 1,646,899 81.48% 1,641,449 3,633,283 1,991,834 121.35% 5,915,204 2,281,921 62.81% 2,893,934 (73,001) (2.46%) 246,176 269,099 22,923 9.31% 690,697 421,598 156.67% 361,905 65,592 22.14% 1,235,256 1,206,430 (28,826) (2.33%) 1,912,651 706,221 58.54% 895,592 16,194 1.84% (3) 302,769 207,723 (95,046) (31.39%) 616,772 409,049 196.92% 418,670 164,272 64.57% 196,861 591,550 394,689 200.49% 894,571 303,021 51.22% 185,096 (306,744) (62.37%) 94,117 101,727 7,610 8.09% 177,200 75,473 74.19% 124,646 31,195 33.38% 226,705 330,761 104,056 45.90% 371,150 40,389 12.21% 241,780 77,346 47.04% 178,613 216,129 37,516 21.00% 301,380 85,251 39.44% 187,158 53,877 40.42% 290,064 303,581 13,517 4.66% 307,824 4,243 1.40% 166,719 6,641 4.15% 152,059 167,372 15,313 10.07% 513,497 346,125 206.80% 237,259 34,397 16.96% () 1,008,551 875,669 (132,882) (13.18%) 1,541,501 665,832 76.04% 653,812 (61,152) (8.55%) 124,156 (8,406) (132,562) (106.77%) 315,392 323,798 231,512 110,395 91.15% (93,203) 287,969 381,172 586,747 298,778 103.75% 18,377 (313,385) (94.46%) 18,257 24,114 5,857 32.08% 50,170 26,056 108.05% 91,876 68,437 291.98% 34,633 136,330 101,697 293.64% 950,620 814,290 597.29% 791,198 361,004 83.92% 146,429 168,010 21,581 14.74% 663,032 495,022 294.64% 303,108 77,232 34.19% 26,931 57,308 30,377 112.80% 50,875-6,433 (11.23%) 44,485 (18,816) (29.72%) 106,963 64,786 (42,177) (39.43%) 243,981 179,195 276.60% 64,226 30,768 91.96% 152,380 109,388 (42,992) (28.21%) 159,009 49,621 45.36% 129,411 45,848 54.87% 44,556 72,166 27,610 61.97% 266,800 194,634 269.70% 56,489 (14,120) (20.00%) 153,105 239,082 85,977 56.16% 242,995 3,913 1.64% 223,555 150,309 205.21% 63,353 126,700 63,347 99.99% 319,686 192,986 152.32% 264,909 72,066 37.37% 890,804 902,611 11,807 1.33% 2,333,112 1,430,501 158.48% 1,315,599 254,004 23.93% 226,029 87,438 (138,591) (61.32%) 711,624 624,186 713.86% 478,131 201,747 73.00% (219,377) 106,195 325,572 394,627 288,432 271.61% (160,693) (482,510) (149.93%) 71,139 103,283 32,144 45.18% 265,423 162,140 156.99% 222,355 89,201 66.99% 782,016 767,483 (14,533) (1.86%) 2,048,545 1,281,062 166.92% 1,201,411 273,525 29.48% 210,818 120,077 (90,741) (43.04%) 684,317 564,240 469.90% 482,098 211,500 78.16% (248,335) 138,764 387,099 348,277 209,513 150.99% (160,134) (448,583) (155.52%) 1. 2. 3. () -36-

(1) 92 93 93 92 98.79% 94 1,222,712 907,590 34.72% 94 LCD (2) 91 92 93 94 25.70% 26.28% 33.93% 29.60% 22.98% 16.02% 16.99% 10.85% 13.76% 6.92% 10.66% 10.23% 10.68% 14.02% 13.13% 6.01% 94 711,850 752,064 1,332,075 858,668 246,176 269,099 690,697 361,905 25.70%26.28% 33.93%29.60% 9194 92 9.31% (31.39%) (2.33%) 200.49%93 156.67% 58.54% 51.22% 196.92% 94 364,044 93 296,313 22.14% 1.84% (62.37)% 64.57% (3) 9293 8.09%74.19% 6.89%98.79% 92 93 94 33.38% 93 93 12 94 (MFPLCD TV) 94 92 8.09% 93 74.19% 94-37-

-38-33.38% 9293 10.07%206.80% 94 16.96% (4) 92 91 32.08%93 92 108.05% BVI Wellypower 94 291.98% BVI WellypowerBVI Apower BVI Wellypower 93 BVI Apower 94 94 94 1.91%~7.51% 0.64%~11.46% 92 91 39.43% 92 BVI Wellypower100% 91 93 92 276.60% 140,888 94 91.96% 93 93 94 6 94 94 5.25%~11.99% 94 94 94 5.35% (5) 92 126,700 103,283 99.99%45.18% 93 319,686 265,423 152.32%156.99% 93 276.60%

94 264,909 222,355 37.37%66.99% 2. 94 91 92 93 6 30 87.52 85.42 59.40 74.31 48.33 44.68 52.47 64.57 40.96 23.60 35.40 34.58 38.05 38.90 12.48 14.58 40.60 26.69 51.67 55.32 47.53 35.43 59.04 76.40 64.60 65.42 (%) 61.95 61.10 311.74 548.01 345.85 491.97 160.81 145.51 199.04 275.66 191.95 319.40 1,088.75 1,019.85 215.05 213.68 391.08 425.46 168.86 276.99 139.08 102.79 131.77 191.91 (%) 109.77 105.55 189.82 177.06 214.80 203.8 281.31 356.09 141.19 251.94 108.13 77.25 103.19 162.67 (%) 73.62 88.15 161.06 149.71 144.70 135.90 2.73 2.40 3.09 2.75 3.64 3.00 4.00 4.33 () 3.26 2.56 2.36 2.41 6.30 4.30 134 152 118 133 100 122 91 84 110 143 155 151 58 85 4.34 3.78 5.27 5.67 6.61 6.19 8.97 9.23 () 7.13 8.24 9.46 8.35 6.90 6.80 84 97 69 64 55 59 41 40 () 51 44 39 44 53 54 2.41 3.71 3.95 4.78 2.17 2.24 3.13 3.76 () 4.15 9.81 18.38 16.59 6.60 7.40 (%) 5.20 6.49 11.65 14.50-39-

2. 1 94 91 92 93 6 30 8.07 3.88 14.23 13.75 (13.50) 5.22 7.17 (4.20) 3.70 3.0 5.79 7.51 16.63 21.48 13.79 7.06 27.79 22.29 (%) (35.39) 15.23 20.73 (14.39) 7.60 (0.4) 23.18 21.08 64.67 41.85 14.44 (0.86) 23.99 11.46 (14.76) 37.12 48.06 1.27 (%) 9.66 15.96 40.26 23.36 26.28 8.90 54.14 23.67 (34.75) 13.69 32.32 (11.13) 7.43 10.09 13.04 18.19 (%) 9.58 4.00 11.83 11.78 (13.47) 3.29 5.11 (5.20) 2.20 1.80 1.02 1.27 3.17 1.95 2.18 1.24 5.90 3.28 () (4.46) 2.06 3.25 (1.30) 13.68 56.48 15.46 31.99 1.39 (2) (%) 11.22 (2) 24.90 31.8 18.61 16.65 20.08 60.25 (2) (%) 7.58 20.87 (2) (1.87) 1.98 3.75 9.05 0.29 (2) (%) 6.85 (2) 0.60 5.8 4.96 4.44 3.11 4.19 14.16 8.47 (2) 2.34 1.67 (2) 1.00 1.00 1.01 1.01 1.24 1.12 (2) 1.14 1.12 (2) 1. 2-40-

-41- (1) 91 946 12.48%14.58%40.60% 26.69%92 92 93 92 93 93 92 94 26.69% 91 946 91 946 311.74%548.01% 345.85%491.97% 92 92 92 93 92 94 93 94 9192 9394 (2) 91 946 391.08%425.46%168.86% 276.99% 281.31%356.09%141.19%251.94% 92 91 92 93 94 94 93 9192 93 94 (3) A. ( ) \ 91 946 2.73 2.40 3.09 2.75 9192 BVI Wellypower Optronics Corp. 3.57 3.09 90 120 92 BVI Wellypower Optronics Corp. 2.40 93 3.09 94 2.75 133 93 118 94

-42-133 B. / 91 946 4.34 3.78 5.27 5.67 9192 93 946 91 92 91 91 93 94 5.27 5.67 C. 91 946 2.41 3.713.95 4.78 92 BVI Apower Optronics Corp. 93 (4) 91 946 税 91 92 93 94 91 92 93 94 93 92 92 91 21.08%9193 94 92 9193 94 92 91 92 93 94 9194 92 93 94 (5) 91 946 13.68%56.48%15.46% 31.99% 91 92 93 92 93 94

91 946 18.61%16.65%20.08% 60.25%92 91 93 20.08%94 91 93 91 946 (1.87%)1.98%3.75% 9.05%92 92 93 92 94 9.05% 9192 93 (6) 9193 94 91 946 98 214 3,254 2,170 91 94 () 1. 94 2. (1) 91 113,450 88,915 92 103,000 72,100 93 123,740 125 83,178 87 41,902 94 4,009 3,800 25,701 3,216 2,660-43-

211,800 (4) 931231 (2) 91 2,640 92 2,640 10,364 660 93 1,617 4,300 94 2,310 3,010 (3)931231 94630 618,300 1.4 93 3. 9192 93 BVI Wellypower 1,000,000 BVI Wellypower 946 31,983 9410 4. 9192 93 946 ( ) 93 94 6 JPY70,000 / JPY213,838 / / USD3,000 USD3,000 USD500 USD500 : 2,610 0.51%0.82% 946 1,079 0.45%0.41% -44-

5. 946 20 () 1. () 91 38,400 655,970 957,932 71,139 1.08 92 138,000 793,970 1,023,925 103,283 1.34 93 793,970 2,035,442 265,423 3.34 94.2 340,000 1,133,970 1,222,712 222,355 2.05 2. 92 942 94 1.08 1.34 3.34 2.05 () -45-

94 9 94 2 94 2 1. (1) 93.11.12 0930151442 (2) 748,000 (3) 34,000 22 748,000 (4) 94 94 94 (%) 11,177 31,395 74,689 178,195 11,177 31,395 39,694 260,461 (%) 4.29 16.34 45.02 ( ) 4.29 16.34 31.58 68.42 217,197 - - 94-106,924 52,873 57,400 217,197 (%) 100.00 - - - ( ) 49.23 73.57 100.00 39,103 42,000 42,000 94 147,239 39,103 42,000 42,000 270,342 (%) 14.46 30.00 45.54 54.46 ( ) 14.46 30.00 45.54-46-

(5) 93 94 95 94 94 2 365,700 260,461 105,239 95 94 8 19 94 10 18 () 92 13,800 20 276,000 93 1. (1) 911210 0910164628 (2) 276,000 (3) 13,800 20 276,000 (4) 92 93 92.06.30 80,000 72,000 8,000 93.03.31 196,000 50,000 42,000 42,000 42,000 20,000 276,000 122,000 50,000 42,000 42,000 20,000-47-

2. (1) 92 93 80,000-92 2 27 36,900 43,100 100.00% - 93 ( ) 46.12% 100% 176,000 20,000 176,000 20,000 89.80% 100% ( ) 89.80% 100% -48- (2) 92 276,000 80,000 196,000 93 91 957,932 92 93 1,023,925 2,035,442 6.89%112.48% 91 71,139 9293 103,283 265,423 91 1.08 9293 1.34 3.34 91 668,833 9293 944,642 1,699,290 91 497,811 9293 722,612 692,949 92 5 94 2 94 94 2 93 93 101,843 50,195 94 7 152,038 92 94

() 1. 91 93 94 2. 91 93 94 3. 4. 5. 6. () 7. () -49-

(1) (2) 8. 9. () 1. () 9293 94 () 11 () 94 3 30 92 10 21 () 93 6 10 2. (1) -50-

1,987,720 (2) 93 1.4 93 (3) (4) 3. 4. -51-

(1) 94 2 (2) () 94 2 94 8 20% (3) 94 2 94 10 18 (4) A. B. C. -52-

D. E. (5) () 5. ( ( ) ) 94 11 10 6. 94 93 5-53-

BVI Wellypower Optionics Corp. 94 10 7. 91~93 8. (94 6 30 ) 94 6 30, () 9. 10. 91 93 94 11. 12. 13. () 14. (1) -54-

-55-119,510 94 10 51,946 43.47% 997 0.83% 52,943 44.30% (2) (3) () 15. 16. 17. 18. (1) (2) (3)

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() 15 (1) (2) (3) () 90 91 92 93 (91 ) (92 ) (93 ) (94 ) 0.80 1.15 1.00 1.42 49,405,600 91,306,550 79,397,000 161,023,740 0.55 - - 0.50 33,966,350 - - 56,698,500 - - - - - - - - 886,936 971,346 2,589,033 4,785,104 4,434,670 4,856,731 4,315,054 16,747,865 () - 2,058,137 5,099,492 () - (1)1,303,137 (2)2,502,000 1 91 12 31 2 94 1 27 240-62-

() 2 1 () () () () () () () 93 94 BVI Wellypower Optronics Corp. BVI Apower Optronics Corp. -63-

-64- - 167 4 1,500,000 1,195,100 11,764 () ()

() () () () 92 93 103,283 265,423 () 93 12 31 2,825,593 1,147,174 () () 1. 2. 3. 4. -65-

() () () GETTER SAES GETTERS 90.1~94.12 SAES JAPAN.,Ltd 94.4~98.12 GETTER 92.1~95.12 MOUNT 94.4~98.12 92.1~95.12 90.1~94.12 92.1~95.12 92.1~95.12 92.1~95.12 ( ) ()92.4.10 93.05~94.04 20 () 93.09-95.08 20 BVIAPOWER 92.07~93.07 BVI APOWER -66-

OPTRONICS CORP. OPTRONICS CORP. BVI APOWER BVIAPOWER 93.07~94.01( OPTRONICS CORP. OPTRONICS CORP. ) 31,800 93.04~96.04 0.85% 3 6 30,000 93.12-96.10 0.85% 3 6 93.7-98.7 42,000 1.03 93.6-96.6 108,000 1.03 LCD 93.8-94.7 94.1~94.12 KYOWA DEVICE 94.4~98.12 Co., Ltd MOUNT PLUS 94.4~98.12 MOUNT Yeo Myung Co., Ltd 94.8~98.12 MOUNT 94.4~98.12 94.4~98.12 94.4~98.12-67-

94.4~98.12 94.4~98.12 94.4~98.12 RUBBER 94.4~98.12 RUBBER () () -68-

() 1. 741,132 2. 11,764 63 741,132 3. 94 94 12 741,132 - - - 741,132 741,132 - - - 741,132 4. 741,132 2.495% 18,491 () 1. 94621 941110 2. 11,764 267 15% 1,764 10,000 28 94621 267 3. (CCFL) CCD LCD 200412 2005 2004 26.90%1.6 2007 15% -69-

CCFL () 1. 0940151911 2. TFT-LCD 93 92 98.79%94 93 34.72% 3. 89 592,871 93 2,035,442 243.32% 89 566,800 93 793,970 40.08% % 89 90 91 92 93 592,871 604,868 957,932 1,023,925 2,035,442 566,800 617,570 655,970 793,970 793,970 8.42 8.12 12.48 14.58 40.60 595.01 600.99 391.08 425.46 168.86 () 1. 9495 9495 3,520,558 5,728,174 94 95 3,580,427 5,377,512 94 5 95 350,662 95 9412-70-

2. 741,132 2.495% 18,491 11,764 119,510 9.84% 94 () () 1. -71-

94 / / 304,086 911,525 251,871 767,518 537,746 851,942 853,809 810,603 664,093 770,451 866,495 498,158 304,086 40,774 48,423 33,979 26,505 20,194 3,561 3,659 11,734 8,349 4,339 5,451 5,346 212,314 193,718 149,882 185,081 185,444 188,622 199,825 202,889 216,682 187,623 180,281 204,607 204,715 2,299,369-26,631 60,366 30,935 - - 51,522 2,690 61,932 72,211 - - 306,287 - - 411,969-320,000 - - - 30,488 - - - 762,457 234,492 224,936 691,395 242,884 528,816 203,386 258,070 231,106 288,392 256,831 210,058 210,061 3,580,427 35,782 241 61,809 538 740 140 27 25 15 272 150 150 99,889 116,515 148,856 84,970 197,814 181,510 160,522 158,592 195,135 178,611 141,889 184,656 184,864 1,933,934 22,679 15,788 15,468 15,833 15,600 15,675 17,948 17,948 - - - - 136,939 - - - - - - - - - - 266,400-266,400 92,262 2,759 8,418 22,171 7,562 1,662 36,111 5,783 3,408 7,297 32,000 31,786 251,219 6,416 - - - 8,508 22,820 - - - - 95,189 36,340 169,273 15,958 466,946-180,000 - - - - - - - - 662,904 289,612 634,590 170,665 416,356 213,920 200,819 212,678 218,891 182,034 149,458 578,395 253,140 3,520,558 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 589,612 934,590 470,665 716,356 513,920 500,819 512,678 518,891 482,034 449,458 878,395 553,140 3,820,558 (51,034) 201,871 472,601 294,046 552,642 554,509 599,201 522,818 470,451 577,824 198,158 155,079 63,955 - - - - - - - - - - - - - (85,441) (250,000) (5,083) (56,015) (700) (700) (84,100) - - - - - (482,039) - - - (285) - - (4,498) - - - - - (4,783) - - - - - - - - - (11,329) - - (11,329) - - - - - - - (158,725) - - - - (158,725) 748,000 - - - - - - - - - - 741,132 1,489,132 662,559 (250,000) (5,083) (56,300) (700) (700) (88,598) (158,725) - (11,329) - 741,132 832,256 911,525 251,871 767,518 537,746 851,942 853,809 810,603 664,093 770,451 866,495 498,158 1,196,211 1,196,211-72-

95 / 1,196,211 973,442 952,188 875,840 979,788 716,277 793,396 858,873 474,073 585,013 463,001 433,307 1,196,211 1,264 1,326 1,363 1,389 1,464 1,534 1,589 1,630 1,725 1,812 1,880 2,293 19,269 251,550 263,810 271,335 276,406 291,378 305,335 316,297 324,469 343,361 360,618 374,097 456,249 3,834,905 15,575 20,283-147,606-225,156 216,012 110,892 258,416 164,148 185,586 180,664 1,523,338 - - - - - - - - - - - - - 268,389 285,419 272,698 425,401 292,842 531,025 533,898 436,991 603,502 526,578 561,563 639,206 5,377,512 16 10 10 10 10 10 10 10 10 10 10 10 126 382,718 277,983 276,533 309,083 338,949 360,546 433,931 466,655 492,552 550,520 567,247 580,800 5,037,517 - - - - - - - - - - - - - - - - - - - - - - - - - - 108,424 28,680 64,730 12,360 13,600 93,350 34,480 1,280-98,060 24,000-478,964 - - 7,773-203,794 - - - - - - - 211,567 - - - - - - - - - - - - - 491,158 306,673 349,046 321,453 556,353 453,906 468,421 467,945 492,562 648,590 591,257 580,810 5,728,174 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 791,158 606,673 649,046 621,453 856,353 753,906 768,421 767,945 792,562 948,590 891,257 880,810 6,028,174 673,442 652,188 575,840 679,788 416,277 493,396 558,873 527,919 285,013 163,001 133,307 191,703 545,549 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (7,825) - - - - (7,825) - - - - - - - (17,836) - - - - (17,836) - - - - - - - (328,185) - - - - (328,185) - - - - - - - - - - - - - - - - - - - - (353,846) - - - - (353,846) 973,442 952,188 875,840 979,788 716,277 793,396 858,873 474,073 585,013 463,001 433,307 491,703 491,703-73-

(1) (CCFL) CCD LCD 2004 2005 TFT-LCD 200412 2005 2004 26.90%1.6 2007 15% CCFL 94 (2) A. 90~120 120 93 94 118 133 94 95 93 B. 30 90-120 93 94 50 64 94 95 93 (3) 9495 94 (4) 9495 2. 94 95 94 95 3,520,558 5,728,174 94 95 3,580,427 5,377,512 94 59,869 95 350,662 95-74-

TFT-LCD 18,491 () () ( ) / 93 94 1.01 1.01 (%) 40.60 26.69 2,035,442 1,222,712 265,423 222,355 () 3.34 2.05 93 94 1.01 94 93 94 2,035,4429 1,222,712 2.495% 11,764 119,510 9.84% ( ) () () () () () -75-

() () 63 94 11 10 11,764 () ( ) ( ) -76-

-77-

-78-

t=n CF t (1+WACC) t t=1 WACC CAPM : WACC n -1-

NWC FA OA + + Sales Sales Sales NWC FA OA Sales Sales Sales -2-

9.62 9.40 60.457,401,796 75.98 9,389,143-3-

-4-

-5-

-6-

-7-

(CCFL) (LED) (OLED) (EL) (LED) (OLED) CCFL( ) LED( ) OLED( LED ) LED EEFL( INVERTER( INVERTER( ) ) ) ITIS (2004/8) -8-

LCD EEFL( )FFL 2020 (1) 2002 1 (WEEE) (2002/96/EC) (RoHS) (2002/95/EC) 2004 8 13 2006 7 1 ( (PBB) (PBDE)) -9-

2006 7 1 5mg 17-19 2.6mg TV 3mg 2010 RoHS LED OLED (2) (LED) (OLED) (EEFL) (FFL) A. - (CCD )LCD 90 780 LCD TV B. -CCFL (EEFL) (FFL) (A) EEFL(External Electrode Fluorescent Lamp) (EEFL) EEFL Inverter (B) FFL(Flat Fluorescent Lamp) 8mm 30 (FFL) CCFL a.cnt ( ) b. ( ) -10-

(1) : TFT-LCD TFT-LCD 21 PC TV 2005 20 26 32 (2) LCD-TV 2005 85%2006 95% (3) U 2005 1300mm ( 850mm) U -11-

(4) 2005 (5)EEFL( ) EEFL CCFL (6) FFL( ) CNT-Backlight( ) FFL CNT-Backlight CCFL LCD 938 9412 A.LCD TV B. (CNT BL) C. LCD TV 20 CNT BL 2FFL 2-3 -12-

94 7 25 1. for LCD 1. 2. Aperture 2. 91 30% 3. 3. Ni-cup LCD -13-

1. for LCD TV 1. Invrter EEFL( ) 92 2. for 25 LCD TV 2. 2005 CCFL 1. 25 TV 1. 2005 2. 2005 93 2. for 30 LCD TV 3. CCFL 3. for LCD TV U CCFL ( ) -14-

11.47%12.48% 92 94 10 408 137 68 - - 477 320 157 2.79 30.11 94 10-20 48 68 12.48% 94 10 7.61%14.41% -15-

6 1.26 209 43.82 239 50.10 23 4.82 477 100.00-16-

-17-

-18-

1 2-19-

-20-

-21-

1,170,117 450,667 14,021 436,646 3.11% 2,314,233 97.78% 896,944 28,859 868,085 3.22% 7,879,061 3,274,506 34,617 3,239,889 1.06% 13,828,808 75.51% 4,885,137 54,310 4,830,827 1.11% 4,142,075 1,577,744 1,830 1,575,914 0.12% 8,760,579 111.50% 3,078,118 2,382 3,075,736 0.08% 4,907,640 2,720,033 35,181 2,684,852 1.29% 7,405,523 50.90% 2,985,210 36,874 2,948,336 1.24% -22-

-23-

-24-

-25-

-26-

-27-

2 3 2-28-

3-29-

-30-

-31-

-32-

-33-

1BVI Wellypower Optronics Corp.93 2,165-34-

-35-

-36-

-37-

-38-

-39-

-40-

-41-

-42-1. (

-43-

-44-

() 93 94 10% 3 2 4-45-

-46-

-47-

-48-

-49-

-50-

-51-

-52-1

-53-2 3

-54-

-55-

-56-

-57-

-58-

t=n CF t Σ (1+WACC) t t=1-1-

NWC FA OA + + Sales Sales Sales NWC FA Sales Sales OA Sales -2-

9.62 9.40-3-

60.457,401,796 75.98 9,389,143-4-

-5-