Page 301 - TSMC 2018 Annual Report

TSMC Solar Europe GmbH is under liquidation procedures.
In both 2018 and 2017, the Company continually increased its investment in TSMC Nanjing for the amount of NT$2,361,320 thousand and NT$21,724,892 thousand. This project was approved by the Investment Commission, Ministry of Economic Affairs, R.O.C. (MOEA).
To lower the hedging cost, in both of 2018 and 2017, the Company continually increased its investment in TSMC Global for the amount of NT$62,272,080 thousand and NT$60,683,010 thousand, respectively. This project was approved by the Investment Commission, MOEA.
b. Investments in associates
Associates consisted of the following:
Place of Incorporation and Operation
Hsinchu, Taiwan
Singapore Taoyuan, Taiwan Hsinchu, Taiwan
Carrying Amount
% of Ownership and Voting Rights Held by the Company
Name of Associate
Vanguard International Semiconductor Corporation (VIS)
Systems on Silicon Manufacturing Company Pte Ltd. (SSMC)
Xintec Inc. (Xintec)
Global Unichip Corporation (GUC)
Principal Activities
Manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing and design service of masks
Manufacturing and selling of integrated circuits and other semiconductor devices
Wafer level chip size packaging and wafer level post passivation interconnection service
Researching, developing, manufacturing, testing and marketing of integrated circuits
December 31, 2018
$ 9,006,126
5,772,815 1,764,607 1,299,423
$ 17,842,971
December 31, 2017
December 31, 2018
28%
39% 41% 35%
December 31, 2017
28%
39% 41% 35%
$
8,568,344
5,677,640 2,292,100 1,300,194
$ 17,838,278
As of December 31, 2018 and 2017, no investments in associates are individually material to the Company. Please refer to the parent company only statements of comprehensive income for recognition of share of both profit (loss) and other comprehensive income (loss) of associates that are not individually material.
The market prices of the investments accounted for using the equity method in publicly traded stocks calculated by the closing price at the end of the reporting period are summarized as follows. The closing price represents the quoted price in active markets, the level 1 fair value measurement.
Name of Associate
VIS GUC Xintec
December 31, 2018
$ 27,621,298 $ 9,617,699 $ 3,783,585
December 31, 2017
$ 30,638,751 $ 11,905,404 $ 9,180,759
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