| 9. | TRADE RECEIVABLES, NET |
| December 31 | ||||||||||||
| 2016 | 2017 | |||||||||||
| NT$ | NT$ | US$ (Note 4) | ||||||||||
| Trade receivables | $ | 51,199,266 | $ | 55,265,607 | $ | 1,864,562 | ||||||
| Less: Allowance for doubtful debts | 53,709 | 64,901 | 2,190 | |||||||||
| Trade receivables, net | $ | 51,145,557 | $ | 55,200,706 | $ | 1,862,372 | ||||||
The Group’s average credit terms were 30 to 90 days. Allowance for doubtful debts is assessed by reference to the collectability of receivables by evaluating the account aging, historical experience and current financial condition of customers.
As of December 31, 2016 and 2017, except that the Group’s five largest customers accounted for 30% and 33% of accounts receivable, respectively, the concentration of credit risk is insignificant for the remaining accounts receivable.
Aging of receivables based on the past due date
| December 31 | ||||||||||||
| 2016 | 2017 | |||||||||||
| NT$ | NT$ | US$ (Note 4) | ||||||||||
| Not past due | $ | 45,959,876 | $ | 49,599,512 | $ | 1,673,398 | ||||||
| 1 to 30 days | 4,467,435 | 4,986,491 | 168,235 | |||||||||
| 31 to 90 days | 700,122 | 562,200 | 18,968 | |||||||||
| More than 91 days | 71,833 | 117,404 | 3,961 | |||||||||
| Total | $ | 51,199,266 | $ | 55,265,607 | $ | 1,864,562 | ||||||
Aging of receivables that were past due but not impaired
| December 31 | ||||||||||||
| 2016 | 2017 | |||||||||||
| NT$ | NT$ | US$ (Note 4) | ||||||||||
| 1 to 30 days | $ | 4,449,479 | $ | 4,942,677 | $ | 166,757 | ||||||
| 31 to 90 days | 596,647 | 378,526 | 12,771 | |||||||||
| Total | $ | 5,046,126 | $ | 5,321,203 | $ | 179,528 | ||||||
Except for those impaired, the Group had not provided an allowance for doubtful debts on trade receivables at each balance sheet date since there has not been a significant change in credit quality and the amounts were still considered collectible. The Group did not hold any collateral or other credit enhancements over these balances nor did it have a legal right to offset against any amounts owed by the Group to counterparties.
Movement of the allowance for doubtful trade receivables
|
Impaired
Individually
|
Impaired
Collectively
|
Total | ||||||||||
| NT$ | NT$ | NT$ | ||||||||||
| Balance at January 1, 2015 | $ | 28,305 | $ | 55,840 | $ | 84,145 | ||||||
| Impairment losses recognized (reversed) | 18,816 | (10,584 | ) | 8,232 | ||||||||
| Amount written off | (7,617 | ) | (209 | ) | (7,826 | ) | ||||||
| Effect of foreign currency exchange differences | (458 | ) | (1,187 | ) | (1,645 | ) | ||||||
| Balance at December 31, 2015 | 39,046 | 43,860 | 82,906 | |||||||||
| Impairment losses reversed | (21,501 | ) | (6,521 | ) | (28,022 | ) | ||||||
| Effect of foreign currency exchange differences | (1,092 | ) | (83 | ) | (1,175 | ) | ||||||
| Balance at December 31, 2016 | 16,453 | 37,256 | 53,709 | |||||||||
| Impairment losses recognized | 9,527 | 4,102 | 13,629 | |||||||||
| Amounts written off | - | (34 | ) | (34 | ) | |||||||
| Effect of foreign currency exchange differences | (850 | ) | (1,553 | ) | (2,403 | ) | ||||||
| Balance at December 31, 2017 | $ | 25,130 | $ | 39,771 | $ | 64,901 | ||||||
|
Impaired
Individually
|
Impaired
Collectively
|
Total | ||||||||||
| US$ (Note 4) | US$ (Note 4) | US$ (Note 4) | ||||||||||
| Balance at January 1, 2017 | $ | 555 | $ | 1,257 | $ | 1,812 | ||||||
| Impairment losses recognized | 322 | 138 | 460 | |||||||||
| Amounts written off | - | (1 | ) | (1 | ) | |||||||
| Effect of foreign currency exchange differences | (29 | ) | (52 | ) | (81 | ) | ||||||
| Balance at December 31, 2017 | $ | 848 | $ | 1,342 | $ | 2,190 | ||||||