REG - Hyundai Motor Co - Convening Notice of Annual General Meeting

Hyundai Motor CoAnnouncement

26/02/2020 07:00

RNS Number : 1293E
  
Hyundai Motor Company
  
26 February 2020
  
 

[English Translation]
 
 
The Convening Notice of 52nd Annual General Meeting
 
 
The Annual General Meeting of Shareholders of Hyundai Motor Company (the "Company") will be held pursuant to Article 365 of the Korea Commercial Act and Article 14 of the Articles of Incorporation of the Company.
 
1.   Date :       March 19, 2020 (Thursday) 09:00 AM
 
2.   Place :      Grand Hall, 2nd Floor West Building, Head office of Hyundai Motor Company
                12 Heolleung-ro, Seocho-gu, Seoul, Korea (T : 82-2-3464-1114)
 
3.   Purposes of the Meeting
 
<Issues to report>             Independent Auditor's Report, Annual Report, Internal Accounting Control System Management Report, Corporate Governance and Communication Committee Report
 
<Agenda>           Item 1 : Approval of the Financial Statements for the 52nd Fiscal Year
                                    (1/1/2019 ~ 12/31/2019)
                            Item 2 : Approval of Partial Amendment of the Articles of Incorporation
                            Item 3 : Appointment of Director(s)
                                                3-1 : Appointment of an Independent Director
3-2 : Appointment of an Internal Director
                            Item 4 : Appointment of Audit Committee Member(s)

                                Item 5 : Approval of Ceiling Amount of Remuneration for Directors
 
 
4.   Matters regarding the Exercise of Voting Rights (Physical Attendance)
 
<What to bring to the shareholders' meeting>
-  In-person : An invitation to the AGM and an identification
-  Proxy : An invitation to the AGM, a power of attorney (with information of the relevant shareholder and the person with the power of attorney filled in, and duly executed and sealed), and an identification of the agent.
 
5.   Matters regarding the Exercise of Voting Rights by Electronic Means
 
In accordance with Article 368 Section 4 of Korea Commercial Act, the Company has determined to allow voting introduce exercising shareholders' voting rights by electronic means, and the overall management of electronic voting system will be consigned to Korea Securities Depository. Shareholders may exercise their voting rights through electronic means, without physical attendance, by referring to the following methods. 
-  Electronic Voting Website : https://evote.ksd.or.kr / Mobile : https://evote.ksd.or.kr/m
-  Voting Period : March 9, 2020 to March 18, 2020
* You may access the voting website from 9 AM to 10 PM (to 5 PM for the last day)
-  If amendment motion on agendas presented at the AGM is submitted, electronic votes will automatically be abstained. 
 
6.   Matters regarding the Protection of Rights of Physical Stock Bearers
 
Electronic stock system, implemented on September 16, 2019, has suspended the effect of physical stock, and physical stock bearers will be electronically classified as special account shareholders of Korea Securities Depository and will be limited from exercising their rights. If you bear physical stocks, please do convert them into electronic stocks by visiting the office of Hanabank agency services for securities.
 
7.   Other matters
 
In accordance with Article 542 Section 4 of Korean Commercial Act, the reference for our business overview and agendas of AGM are located at the head office of the company, Financial Service Commission, Korea Exchange and the office of Hanabank agency services for securities. 
 
 
 
March 2, 2020
 
 
Hyundai Motor Company
Representative Director, Won Hee Lee
(Seal omitted)
 
 
 
 
 
 
 
 
Item 1:  Approval of the Financial Statements for the 52nd Fiscal Year
 
* Financial statements for the 52nd fiscal year below are presented on a preliminary basis before the audit from an independent auditor. Actual audited results may subject to differ. Audited financial statements for the 52nd fiscal year, including auditor's opinion from the designated independent auditor, will be disclosed on March 4th, 2020.
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
 
AS OF DECEMBER 31, 2019 AND 2018
 
 
 
 




ASSETS


 


 


 


December 31, 2019


 


December 31, 2018




 


 


 


 


(In millions of Korean Won)




Current assets:


 


 


 


 


 


 




Cash and cash equivalents


 


 


 


￦


8,681,971


 


￦


9,113,625




Short-term financial instruments


 


 


 


 


7,292,626


 


 


7,936,319




Other financial assets


 


 


 


 


9,449,913


 


 


9,755,725




Trade notes and accounts receivable


 


 


 


 


3,540,871


 


 


3,595,993




Other receivables


 


 


 


 


3,376,636


 


 


3,291,847




Inventories


 


 


 


 


11,663,848


 


 


10,714,858




Other assets


 


 


 


 


1,790,298


 


 


1,770,682




Current tax assets


 


 


 


 


112,046


 


 


97,271




Financial services receivables


 


 


 


 


30,178,200


 


 


25,864,589




Non-current assets classified as held for sales


 


 


 


 


11,493


 


 


867,192




Total current assets


 


 


 


 


76,097,902


 


 


73,008,101




 


 


 


 


 


 


 


 


 




Non-current assets:


 


 


 


 


 


 


 


 




Long-term financial instruments


 


 


 


 


803,262


 


 


112,394




Other financial assets


 


 


 


 


3,059,526


 


 


2,223,358




Long-term trade notes and accounts receivable


 


 


 


 


127,430


 


 


136,777




Other receivables


 


 


 


 


705,154


 


 


755,088




Property, plant and equipment


 


 


 


 


32,831,524


 


 


30,545,608




Investment property


 


 


 


 


171,494


 


 


189,334




Intangible assets


 


 


 


 


5,266,496


 


 


4,921,383




Investments in joint ventures and associates


 


 


 


 


18,375,290


 


 


17,143,239




Deferred tax assets


 


 


 


 


2,340,096


 


 


1,846,330




Financial services receivables


 


 


 


 


32,080,426


 


 


28,637,075




Operating lease assets


 


 


 


 


21,068,340


 


 


20,425,766




Other assets
Right-of-use assets


 
 


 
 


 
 


 


865,767
734,542


 


 


711,299
-




Total non-current assets


 


 


 


 


118,429,347


 


 


107,647,651




 


 


 


 


 


 


 


 


 




Total assets


 


 


 


￦


194,527,249


 


￦


180,655,752




 
 
(Continued)
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
 
AS OF DECEMBER 31, 2019 AND 2018 (CONTINUED)
 
 
 
 




LIABILITIES AND EQUITY


 


 


 


December 31, 2019


 


December 31, 2018




 


 


 


 


(In millions of Korean Won)




Current liabilities:


 


 


 


 


 


 




Trade notes and accounts payable


 


 


 


￦


7,669,424


 


￦


7,655,630




Other payables


 


 


 


 


6,060,100


 


 


5,425,460




Short-term borrowings


 


 


 


 


12,570,693


 


 


12,249,850




Current portion of long-term debt and debentures


 


 


 


 


15,778,558


 


 


14,104,927




Income tax payable


 


 


 


 


370,100


 


 


150,802




Provisions


 


 


 


 


3,459,882


 


 


3,291,868




Other financial liabilities


 


 


 


 


9,970


 


 


44,288




Non-current liabilities classified as held for sale


 


 


 


 


-


 


 


719,396




Lease liabilities


 


 


 


 


132,388


 


 


-




Other liabilities


 


 


 


 


7,244,824


 


 


5,796,193




Total current liabilities


 


 


 


　


53,295,939


 


　


49,438,414




 


 


 


 


 


 


 


 


 




Non-current liabilities:


 


 


 


 


 


 


 


 




Long-term other payables


 


 


 


 


847,287


 


 


20,319




Debentures


 


 


 


 


41,805,814


 


 


36,956,114




Long-term debt


 


 


 


 


11,217,088


 


 


9,985,250




Net defined benefit liabilities


 


 


 


 


412,598


 


 


433,247




Provisions


 


 


 


 


3,682,895


 


 


3,508,036




Other financial liabilities


 


 


 


 


175,196


 


 


297,506




Deferred tax liabilities


 


 


 


 


3,503,077


 


 


3,320,346




Lease liabilities


 


 


 


 


635,596


 


 


-




Other liabilities


 


 


 


 


2,552,819


 


 


2,800,510




Total non-current liabilities


 


 


 


　


64,832,370


 


　


57,321,328




 


 


 


 


 


 


 


 


 




Total liabilities


 


 


 


　


118,128,309


 


　


106,759,742




 


 


 


 


 


 


 


 


 




Equity:


 


 


 


 


 


 


 


 




Capital stock


 


 


 


 


1,488,993


 


 


1,488,993




Capital surplus


 


 


 


 


4,197,015


 


 


4,201,214




Other capital items


 


 


 


 


(1,516,817)


 


 


(1,155,244)




Accumulated other comprehensive loss


 


 


 


 


(2,353,022)


 


 


(3,052,198)




Retained earnings


 


 


 


 


68,264,021


 


 


66,490,082




Equity related to assets classified as held for sale


 


 


 


 


-


 


 


1,122




Equity attributable to the owners of the
Company


 
 


 


 


　


70,080,190


 


　


67,973,969




 


 


 


 


 


 


 


 


 




Non-controlling interests


 


 


 


　


6,318,750


 


　


5,922,041




Total equity


 


 


 


　


76,398,940


 


　


73,896,010




 


 


 


 


 


 


 


 


 




Total liabilities and equity


 


 


 


￦


194,527,249


 


￦


180,655,752




 
 
(Concluded)
 
 
 
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF INCOME
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


 


 


2019


 


2018




 


 


 


 


(In millions of Korean Won, except per share amounts)




Sales


 


 


 


￦


105,764,784


 


￦


96,812,609




 


 


 


 


 


 


 


 


 




Cost of sales


 


 


 


 


88,089,257


 


 


81,670,479




 


 


 


 


 


 


 


 


 




Gross profit


 


 


 


 


17,675,527


 


 


15,142,130




 


 


 


 


 


 


 


 


 




Selling and administrative expenses


 


 


 


 


14,036,836


 


 


12,719,965




 


 


 


 


 


 


 


 


 




Operating profit


 


 


 


 


3,638,691


 


 


2,422,165




 


 


 


 


 


 


 


 


 




Gain on investments in joint ventures and
associates, net


 
 


 


 


 


 
542,779


 


 


404,541




Finance income


 


 


 


 


827,120


 


 


823,499




Finance expenses


 


 


 


 


475,218


 


 


600,867




Other income


 


 


 


 


1,120,958


 


 


967,281




Other expenses


 


 


 


 


1,457,425


 


 


1,487,037




 


 


 


 


 


 


 


 


 




Profit before income tax


 


 


 


 


4,196,905


 


 


2,529,582




 


 


 


 


 


 


 


 


 




Income tax expense (benefit)


 


 


 


 


978,120


 


 


884,563




 


 


 


 


 


 


 


 


 




Profit for the period


 


 


 


￦


3,218,785


 


￦


1,645,019




 


 


 


 


 


 


 


 


 




Profit attributable to:


 


 


 


 


 


 


 


 




Owners of the Company


 


 


 


 


2,994,417


 


 


1,508,084




Non-controlling interests


 


 


 


 


224,368


 


 


136,935




 


 


 


 


 


 


 


 


 




Earnings per share attributable to the owners
of the Company:


 
 


 


 


 


 


 


 


 




Basic earnings per share:
Common stock


 


 


 


￦


11,365


 


￦


5,632




1st  preferred stock


 


 


 


￦


11,409


 


￦


5,681




Diluted earnings per share:
Common stock


 


 


 


￦


11,365


 


￦


5,632




1st  preferred stock


 


 


 


￦


11,409


 


￦


5,681




 


 




 
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


2019


 


2018




 


 


(In millions of Korean Won)




Profit for the year


 


￦


3,218,785


 


￦


1,645,019




 


 


 


 


 


 


 




Other comprehensive income (loss):


 


 


 


 


 


 




Items that will not be reclassified subsequently to 
profit or loss:


 


 


 


 


 


 




Profit (loss) on financial assets measured at 
FVOCI, net


 


 


(37,965)


 


 


(99,125)




Remeasurements of defined benefit plans


 


 


(53,144)


 


 


(439,508)




Changes in retained earnings of equity-accounted
investees, net


 


 


(108,962)


 


 


(67,347)




Changes in share of earnings of equity-accounted
investees, net


 


 


16,966


 


 


(25,826)




 


 


 


(183,105)


 


 


(631,806)




Items that may be reclassified subsequently to 
profit or loss:


 


 


 


 


 


 




Profit (loss) on financial assets measured at 
FVOCI, net


 


 


15,906


 


 


(6,534)




Gain (loss) on valuation of cash flow hedge 
derivatives, net


 


 


45,051


 


 


(124,121)




Changes in share of earnings of equity-accounted
investees, net


 


 


271,568


 


 


(237,547)




Gain (loss) on foreign currency translation difference for foreign operation, net


 


 


481,848


 


 


3,626




 


 


 


814,373


 


 


(364,576)




Total other comprehensive income (loss)


 


 


631,268


 


 


(996,382)




 


 


 


 


 


 


 




Total comprehensive income (loss)


 


￦


3,850,053


 


￦


648,637




 


 


 


 


 


 


 




Comprehensive income (loss) attributable to:


 


 


 


 


 


 




Owners of the Company


 


 


3,535,326


 


 


553,869




Non-controlling interests


 


 


314,727


 


 


94,768




Total comprehensive income (loss)


 


￦


3,850,053


 


￦


648,637




 
 
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


Capital
stock


 
 


Capital
surplus


 
 


Other
capital
items


 
 
 


Accumulated                   other
comprehensive
income (loss)


 


Retained
earnings


 
 
 
 


Total equity attributable to the owners of 
the Company


 


Non-
controlling
interests


 
 
 


Total
equity




 


 


(In millions of Korean Won)




Balance at
January 1, 2018


 
 


￦


1,488,993


 


￦


4,201,214


 


￦


(1,640,096)


 


￦


(2,278,955)


 


￦


67,332,328


 


￦


69,103,484


 


￦


5,653,870


 


￦


74,757,354




Changes in
accounting standards


 


 


-


 


 


-


 


 


-


 


 


(340,268)


 


 


188,665


 


 


(151,603)


 


 


(71,337)


 


 


(222,940)




Balances after
adjustments


 


 


1,488,993


 


 


4,201,214


 


 


(1,640,096)


 


 


(2,619,223)


 


 


67,520,993


 


 


68,951,881


 


 


5,582,533


 


 


74,534,414




Comprehensive
income:


 
 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　




Profit for the period


 


 


-


 


 


-


 


 


-


 


 


-


 


 


1,508,084


 


 


1,508,084


 


 


136,935


 


 


1,645,019




Gain (loss) on financial
assets measured at FVOCI, net


 
 


 


-


 


 


-


 


 


-


 


 


(93,248)


 


 


(11,510)


 


 


(104,758)


 


 


(901)


 


 


(105,659)




Loss on valuation of
cash flow hedge 
derivatives, net


 
 
 


 


-


 


 


-


 


 


-


 


 


(69,896)


 


 


-


 


 


(69,896)


 


 


(54,225)


 


 


(124,121)




Changes in valuation 
of equity-accounted
investees, net


 


 


-


 


 


-


 


 


-


 


 


(261,658)


 


 


(67,347)


 


 


(329,005)


 


 


(1,715)


 


 


(330,720)




Remeasurements of
defined benefit plans


 
 


 


-


 


 


-


 


 


-


 


 


-


 


 


(443,505)


 


 


(443,505)


 


 


3,997


 


 


(439,508)




Gain (loss) on foreign
currency translation
difference for
foreign operation, net


 
 
 


 


-


 


 


-


 


 


-


 


 


(7,051)


 


 


-


 


 


(7,051)


 


 


10,677


 


 


3,626




Total comprehensive
Income


 
 


 


-


 


 


-


 


 


-


 


 


(431,853)


 


 


985,722


 


 


553,869


 


 


94,768


 


 


648,637




Transactions with
owners, recorded
directly in equity:


 
 
 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　


 


 


　




Payment of cash 
Dividends


 
 


 


-


 


 


-


 


 


-


 


 


-


 


 


(1,076,734)


 


 


(1,076,734)


 


 


(50,727)


 


 


(1,127,461)




Increase in paid-in
capital of subsidiaries by issuing stock 


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


10


 


 


10




Acquisitions of
investment of subsidiaries


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


3,181


 


 


3,181




Purchases of treasury stocks


 


 


-


 


 


-


 


 


(454,734)


 


 


-


 


 


-


 


 


(454,734)


 


 


-


 


 


(454,734)




Retirement of
treasury stocks


 


 


-


 


 


-


 


 


939,586


 


 


-


 


 


(939,586)


 


 


-


 


 


-


 


 


-




Issue of
hybrid bond


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


299,240


 


 


299,240




Others


 


 


-


 


 


-


 


 


-


 


 


-


 


 


(313)


 


 


(313)


 


 


(6,964)


 


 


(7,277)




Total transactions with
owners, recorded directly in equity


 


 


-


 


 


-


 


 


484,852


 


 


-


 


 


(2,016,633)


 


 


(1,531,781)


 


 


244,740


 


 


(1,287,041)




Balance at
December 31, 2018


 
 


￦


1,488,993


 


￦


4,201,214


 


￦


(1,155,244)


 


￦


(3,051,076)


 


￦


66,490,082


 


￦


67,973,969


 


￦


5,922,041


 


￦


73,896,010




 
 
(Continued)
 
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 (CONTINUED)
 
 
 
 




 


 


Capital
stock


 
 


Capital
surplus


 
 


Other capital
items


 
 
 


Accumulated other
comprehensive
income (loss)


 


Retained earnings


 
 
 
 


Total equity attributable to the owners of 
the Company


 


Non-
controlling
interests


 
 
 


Total
equity


 




 


 


(In millions of Korean Won)


 




Balance at
January 1, 2019


 
 


￦


1,488,993


 


￦


4,201,214


 


￦


(1,155,244)


 


￦


(3,051,076)


 


￦


66,490,082


 


￦


67,973,969


 


￦


5,922,041


 


￦


73,896,010


 




Comprehensive
income:


 
 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




Profit for the period


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


2,994,417


 


 


2,994,417


 


 


224,368


 


 


3,218,785


 




Gain (loss) on
financial assets measured at FVOCI, net


 
 


 


　-    


 


 


　-    


 


 


　-    


 


 


(26,426)


 


 


(1,294)


 


 


(27,720)


 


 


5,661


 


 


(22,059)


 




Loss on valuation of
cash flow hedge 
derivatives, net


 
 
 


 


　-    


 


 


　-    


 


 


　-    


 


 


34,570


 


 


　-    


 


 


34,570


 


 


10,481


 


 


45,051


 




Changes in valuation 
of equity-accounted
investees, net


 


 


　-    


 


 


　-    


 


 


　-    


 


 


276,430


 


 


(108,962)


 


 


167,468


 


 


12,104


 


 


179,572


 




Remeasurements of
defined benefit plans


 
 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


(46,889)


 


 


(46,889)


 


 


(6,255)


 


 


(53,144)


 




Gain on foreign
currency translation
difference for
foreign operation, net


 
 
 


 


　-    


 


 


　-    


 


 


　-    


 


 


413,480


 


 


　-    


 


 


413,480


 


 


68,368


 


 


481,848


 




Total comprehensive
Income


 
 


 


-    


 


 


-    


 


 


-    


 


 


698,054


 


 


2,837,272


 


 


3,535,326


 


 


314,727


 


 


3,850,053


 




Transactions with
owners, recorded
directly in equity:


 
 
 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




Payment of cash 
dividends


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


             


(1,063,331)


 


 


(1,063,331)    


 


 


(58,503)


 


 


(1,121,834)


 




Increase in paid-in
capital of 
subsidiaries
by issuing stock


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


-    


 


 


4,806


 


 


4,806


 




Acquisitions of
investment of
subsidiaries


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


13,004


 


 


13,004


 




Disposals of
investment of
subsidiaries


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


　-    


 


 


-    


 


 


(19,637)


 


 


(19,637)


 




Purchases of
treasury stocks


 


 


　-    


 


 


　-    


 


 


(458,031)


 


 


　-    


 


 


　-    


 


 


(458,031)


 


 


　-    


 


 


(458,031)


 




Disposal of
treasury stocks


 


 


　-    


 


 


　2,163    


 


 


96,458


 


 


　-    


 


 


　-    


 


 


98,621


 


 


　-    


 


 


98,621


 




Issue of
hybrid bond


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


-


 


 


150,323


 


 


150,323


 




Others


 


 


　-    


 


 


(6,362)    


 


 


　-    


 


 


　-    


 


 


(2)


 


 


(6,364)


 


 


(8,011)


 


 


(14,375)


 




Total transactions with
owners, recorded directly in equity


 


 


-    


 


 


(4,199)    


 


 


(361,573)    


 


 


-    


 


 


(1,063,333)


 


 


(1,429,105)


 


 


81,982


 


 


(1,347,123)


 




Balance at
December 31, 2019


 
 


￦


1,488,993


 


￦


4,197,015


 


￦


(1,516,817)


 


￦


(2,353,022)


 


￦


68,264,021


 


￦


70,080,190


 


￦


6,318,750


 


￦


76,398,940


 




 
 
(Concluded)
 
 
 
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


 


 


2019


 


2018




 


 


 


 


(In millions of Korean Won)




Cash flows from operating activities:


 


 


 


 


 


 




Cash generated from operations:


 


 


 


 


 


 




Profit for the period


 


 


 


￦


3,218,785


 


￦


1,645,019




Adjustments


 


 


 


 


15,130,447


 


 


14,036,476




Changes in operating assets and liabilities


 


 


 


 


(14,711,173)


 


 


(9,592,809)




 


 


 


 


 


3,638,059


 


 


6,088,686




Interest received


 


 


 


 


672,283


 


 


696,134




Interest paid


 


 


 


 


(2,073,310)


 


 


(1,950,392)




Dividend received


 


 


 


 


204,455


 


 


206,323




Income tax paid


 


 


 


 


(1,070,958)


 


 


(1,276,486)




Net cash provided by operating activities


 


 


 


 


1,370,529


 


 


3,764,265




 


 


 


 


 


 


 


 


 




Cash flows from investing activities:


 


 


 


 


 


 


 


 




Changes in short-term financial instruments


 


 


 


 


(5,610)


 


 


(232,528)




Decreases in other financial assets (current), net


 


 


 


 


495,541


 


 


2,596,564




Decreases in other financial assets (non-current)


 


 


 


 


7,189


 


 


141,979




Collection of other receivables


 


 


 


 


51,417


 


 


79,241




Disposals of long-term financial instruments


 


 


 


 


2,861


 


 


47




Proceeds from disposals of property, plant and
equipment


 
 


 


 


 


85,901


 


 


105,116




Proceeds from disposals of intangible assets


 


 


 


 


2,605


 


 


4,714




Proceeds from disposals of investments in joint ventures and associates


 


 


 


 


1,404


 


 


-




Proceeds from acquisition of investment of subsidiaries


 
 


 


 


 


13,004


 


 


5,271




Increases in other financial assets (non-current)


 


 


 


 


(679,741)


 


 


(125,123)




Increases in other receivables


 


 


 


 


(49,631)


 


 


(56,755)




Purchases of long-term financial instruments


 


 


 


 


(18,759)


 


 


(16,691)




Acquisitions of property, plant and equipment


 


 


 


 


(4,537,461)


 


 


(3,226,486)




Acquisitions of intangible assets


 


 


 


 


(1,716,680)


 


 


(1,632,711)




Acquisitions of investments in joint ventures and associates


 


 


 


 


(588,541)


 


 


(61,772)




Others


 


 


 


 


56,572


　


 


4,070




Net cash used in investing activities


 


 


 


 


(6,879,929)


 


 


(2,415,064)




 
 
(Continued)
 
HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES
 
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 (CONTINUED)
 
 
 
 




 


 


 


 


2019


 


2018




 


 


 


 


(In millions of Korean Won)




Cash flows from financing activities:


 


 


 


 


 


 




Proceeds from (Repayment of) short-term borrowings, net


 


 


 


￦


1,418,012


 


￦


2,167,765




Proceeds from long-term debt and debentures


 


 


 


 


25,557,933


 


 


18,561,982




Proceeds from capital contribution from non-controlling interest


 


 


 


 


4,806


 


 


10




Repayment of long-term debt and debentures


 


 


 


 


(20,433,457)


 


 


(20,228,806)




Repayment of lease liabilities


 


 


 


 


(159,604)


 


 


-




Purchases of treasury stocks


 


 


 


 


(458,031)


 


 


(454,734)




Dividends paid


 


 


 


 


(1,121,820)


 


 


(1,127,452)




Issue of hybrid bond


 


 


 


 


150,323


 


 


299,240




Others


 


 


 


 


(83,236)


 


 


(98,787)




Net cash provided by (used in) financing activities


 


 


 


 


4,874,926


 


 


(880,782)




 


 


 


 


 


 


 


 


 




Decrease due to transfer to assets classified as held for sale


 


 


 


 


-


 


 


(97,050)　




 


 


 


 


 


 


 


 


 




Effect of exchange rate changes on cash and
cash equivalents


 


 


 


 


202,820


　


 


(79,273)




 


 


 


 


 


 


 


 


 




Net increase in cash and cash equivalents


 


 


 


 


(431,654)


　


 


292,096




 


 


 


 


 


 


 


 


 




Cash and cash equivalents, beginning of the period


 


 


 


￦


9,113,625


　


￦


8,821,529




 


 


 


 


 


 


 


 


 




Cash and cash equivalents, end of the period


 


 


 


￦


8,681,971


 


￦


9,113,625




 
 
(Concluded)
 
 
 
 
HYUNDAI MOTOR COMPANY
 
 
SEPARATE STATEMENTS OF FINANCIAL POSITION
 
AS OF DECEMBER 31, 2019 AND 2018
 
 
 
 




ASSETS


 


 


 


December 31, 2019


 


December 31, 2018




 


 


 


 


(In millions of Korean Won)




Current assets:


 


 


 


 


 


 




Cash and cash equivalents


 


 


 


￦


382,000


 


￦


194,203




Short-term financial instruments


 


 


 


 


5,793,630


 


 


6,478,598




Other financial assets


 


 


 


 


6,983,208


 


 


7,444,315




Trade notes and accounts receivable


 


 


 


 


4,733,426


 


 


3,868,219




Other receivables


 


 


 


 


1,118,882


 


 


1,163,329




Inventories


 


 


 


 


3,065,329


 


 


2,863,652




Non-current assets classified as held for sale


 


 


 


 


-


 


 


45,386




Other assets


 


 


 


 


270,317


 


 


267,367




Total current assets


 


 


 


 


22,346,792


 


 


22,325,069




 


 


 


 


 


 


 


 


 




Non-current assets:


 


 


 


 


 


 


 


 




Long-term financial instruments


 


 


 


 


682,334


 


 


186




Other financial assets


 


 


 


 


2,359,601


 


 


1,795,026




Long-term trade notes and accounts receivable


 


 


 


 


20,449


 


 


13,858




Other receivables


 


 


 


 


475,659


 


 


498,246




Property, plant and equipment


 


 


 


 


24,413,350


 


 


22,904,948




Investment property


 


 


 


 


143,237


 


 


156,206




Intangible assets


 


 


 


 


4,270,089


 


 


3,915,129




Investments in subsidiaries, joint ventures
                               and associates


 


 


 


 


18,416,453


 


 


17,533,271




Deferred tax assets


 


 


 


 


862,064


 


 


593,437




Right-of-use assets


 


 


 


 


148,128


 


 


-




Other assets


 


 


 


 


19,063


 


 


7,132




Total non-current assets


 


 


 


 


51,810,427


 


 


47,417,439




 


 


 


 


 


 


 


 


 




Total assets


 


 


 


￦


74,157,219


 


￦


69,742,508




 
(Continued)
 
 
 
 
 
HYUNDAI MOTOR COMPANY
 
 
SEPERATE STATEMENTS OF FINANCIAL POSITION
 
AS OF DECEMBER 31, 2019 AND 2018 (CONTINUED)
 
 
 
 




LIABILITIES AND EQUITY


 


 


 


December 31, 2019


 


December 31, 2018




 


 


 


 


(In millions of Korean Won)




Current liabilities:


 


 


 


 


 


 




Trade notes and accounts payable


 


 


 


￦


4,349,005


 


￦


4,134,287




Other payables


 


 


 


 


3,275,483


 


 


3,016,119




Short-term borrowings


 


 


 


 


3,293,370


 


 


2,283,963




Current portion of long-term debt and debentures


 


 


 


 


648,368


 


 


323,129




Income tax payable


 


 


 


 


207,081


 


 


55,426




Provisions


 


 


 


 


1,936,640


 


 


1,855,748




Other financial liabilities


 


 


 


 


12


 


 


785




Lease liabilities


 


 


 


 


49,478


 


 


-




Other liabilities


 


 


 


 


1,389,431


 


 


1,067,856




Total current liabilities


 


 


 


　


15,148,868


 


　


12,737,313




 


 


 


 


 


 


 


 


 




Non-current liabilities:


 


 


 


 


 


 


 


 




Long-term other payables


 


 


 


 


825,824


 


 


-




Debentures


 


 


 


 


299,617


 


 


299,405




Long-term debt


 


 


 


 


676,957


 


 


971,688




Net defined benefit liabilities


 


 


 


 


320,843


 


 


329,919




Provisions


 


 


 


 


2,521,136


 


 


2,522,362




Other financial liabilities


 


 


 


 


2,546


 


 


33




Lease liabilities


 


 


 


 


90,213


 


 


-




Other liabilities


 


 


 


 


352,206


 


 


306,001




Total non-current liabilities


 


 


 


　


5,089,342


 


　


4,429,408




 


 


 


 


 


 


 


 


 




Total liabilities


 


 


 


　


20,238,210


 


　


17,166,721




 


 


 


 


 


 


 


 


 




Equity:


 


 


 


 


 


 


 


 




Capital stock


 


 


 


 


1,488,993


 


 


1,488,993




Capital surplus


 


 


 


 


4,012,033


 


 


4,009,870




Other capital items


 


 


 


 


(1,516,817)


 


 


(1,155,244)




Accumulated other comprehensive loss


 


 


 


 


64,476


 


 


94,617




Retained earnings


 


 


 


 


49,870,324


 


 


48,137,551




Total equity


 


 


 


　


53,919,009


 


　


52,575,787




 


 


 


 


 


 


 


 


 




Total liabilities and equity


 


 


 


￦


74,157,219


 


￦


69,742,508




 
 
(Concluded) 
 
 
 
 
 
 
HYUNDAI MOTOR COMPANY
 
 
SEPERATE STATEMENTS OF INCOME
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


 


 


2019


 


2018




 


 


 


 


(In millions of Korean Won, except per share amounts)




Sales


 


 


 


￦


49,155,693


 


￦


43,160,108




 


 


 


 


 


 


 


 


 




Cost of sales


 


 


 


 


40,324,396


 


 


36,403,490




 


 


 


 


 


 


 


 


 




Gross profit


 


 


 


 


8,831,297


 


 


6,756,618




 


 


 


 


 


 


 


 


 




Selling and administrative expenses


 


 


 


 


7,251,133


 


 


6,815,940




 


 


 


 


 


 


 


 


 




Operating profit


 


 


 


 


1,580,164


 


 


(59,322)




 


 


 


 


 


 


 


 


 




Gain on investments in joint ventures and
associates, net


 
 


 


 


 


 
181,110


 


 


(191,079)




Finance income


 


 


 


 


1,562,521


 


 


1,076,260




Finance expenses


 


 


 


 


144,315


 


 


198,306




Other income


 


 


 


 


866,840


 


 


913,634




Other expenses


 


 


 


 


856,427


 


 


831,239




 


 


 


 


 


 


 


 


 




Profit before income tax


 


 


 


 


3,189,893


 


 


709,948




 


 


 


 


 


 


 


 


 




Income tax expense (benefit)


 


 


 


 


357,604


 


 


295,007




 


 


 


 


 


 


 


 


 




Profit for the period


 


 


 


￦


2,832,289


 


￦


414,941




 


 


 


 


 


 


 


 


 




Earnings per share 


 
 


 


 


 


 


 


 


 




Basic earnings per share:


 


 


 


 


 


 


 


 




Common stock


 


 


 


￦


10,749


 


￦


1,536




1st  preferred stock


 


 


 


￦


10,793


 


￦


1,586




Diluted earnings per share:


 


 


 


 


 


 


 


 




Common stock


 


 


 


￦


10,749


 


￦


1,536




1st  preferred stock


 


 


 


￦


10,793


 


￦


1,586




 
 
HYUNDAI MOTOR COMPANY
 
 
SEPERATE STATEMENTS OF COMPREHENSIVE INCOME
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


2019


 


2018




 


 


(In millions of Korean Won)




Profit for the year


 


￦


2,832,289


 


￦


414,941




 


 


 


 


 


 


 




Other comprehensive income (loss):


 


 


 


 


 


 




Items that will not be reclassified subsequently to 
profit or loss:


 


 


 


 


 


 




Profit (loss) on financial assets measured at 
FVOCI, net


 


 


(44,270)


 


 


(102,669)




Remeasurements of defined benefit plans


 


 


(34,891)


 


 


(428,426)




 


 


 


(79,161)


 


 


(531,095)




Items that may be reclassified subsequently to 
profit or loss:


 


 


 


 


 


 




Gain (loss) on valuation of cash flow hedge 
derivatives, net


 


 


12,835


 


 


(1,008)




 


 


 


12,835


 


 


(1,008)




Total other comprehensive income (loss)


 


 


(66,326)


 


 


(532,103)




 


 


 


 


 


 


 




Total comprehensive income (loss)


 


￦


2,765,963


 


￦


(117,162)




 


 


 


 


 


 


 




 
 
HYUNDAI MOTOR COMPANY
 
 
SEPERATE STATEMENTS OF CHANGES IN EQUITY
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


Capital
stock


 
 


Capital
surplus


 
 


Other
capital
items


 
 
 


Accumulated                   other
comprehensive
income (loss)


 


Retained
earnings


 
 
 
 


 
 
 


Total
equity




 


 


 




Balance at
January 1, 2018


 
 


￦


1,488,993


 


￦


4,009,870


 


￦


(1,640,095)


 


￦


480,092


 


￦


49,885,558


 


 


￦


54,224,418




Changes in
accounting standards


 


 


-


 


 


-


 


 


-


 


 


(293,309)


 


 


293,309


 


 


 


-




Balances after
adjustments


 


 


1,488,993


 


 


4,009,870


 


 


(1,640,095)


 


 


186,783


 


 


50,178,867


 


 


 


54,224,418




Payment of cash 
dividends


 
 


 


-


 


 


-


 


 


-


 


 


-


 


 


(1,076,734)


 


 


 


(1,076,734)




Purchases of treasury stocks


 


 


-


 


 


-


 


 


(454,735)


 


 


-


 


 


-


 


 


 


(454,735)




Retirement of
treasury stocks


 


 


-


 


 


-


 


 


939,586


 


 


-


 


 


(939,586)


 


 


 


-




Gain (loss) on financial

assets measured at

FVOCI, net


 


 


-


 


 


-


 


 


-


 


 


(91,158)


 


 


(11,511)


 


 


 


(102,669)




Loss on valuation of

cash flow hedge

derivatives, net


 


 


-


 


 


-


 


 


-


 


 


(1,008)


 


 


-


 


 


 


(1,008)




Remeasurements of

defined benefit plans


 


 


-


 


 


-


 


 


-


 


 


-


 


 


(428,426)


 


 


 


(428,426)




Profit for the year


 


 


-


 


 


-


 


 


-


 


 


-


 


 


414,941


 


 


 


414,941




Balance at
December 31, 2018


 
 


￦


1,488,993


 


￦


4,009,870


 


￦


(1,155,244)


 


￦


94,617


 


￦


48,137,551


 


 


￦


52,575,787




Balance at
January 1, 2019


 
 


￦


1,488,993


 


￦


4,009,870


 


￦


(1,155,244)


 


￦


94,617


 


￦


48,137,551


 


 


￦


52,575,787




Payment of cash 
dividends


 
 


 


-


 


 


-


 


 


-


 


 


-


 


 


(1,063,331)


 


 


 


(1,063,331)




Purchases of treasury stocks


 


 


-


 


 


-


 


 


(458,031)


 


 


-


 


 


-


 


 


 


(458,031)




Disposal of
treasury stocks


 


 


-


 


 


2,163


 


 


96,458


 


 


-


 


 


-


 


 


 


98,621




Gain (loss) on financial

assets measured at

FVOCI, net


 


 


-


 


 


-


 


 


-


 


 


(42,976)


 


 


(1,294)


 


 


 


(44,270)




Loss on valuation of

cash flow hedge

derivatives, net


 


 


-


 


 


-


 


 


-


 


 


12,835


 


 


-


 


 


 


12,835




Remeasurements of

defined benefit plans


 


 


-


 


 


-


 


 


-


 


 


-


 


 


(34,891)


 


 


 


(34,891)




Profit for the year


 


 


-


 


 


-


 


 


-


 


 


-


 


 


2,832,289


 


 


 


2,832,289




Balance at
December 31, 2019


 
 


￦


1,488,993


 


￦


4,012,033


 


￦


(1,516,817)


 


￦


64,476


 


￦


49,870,324


 


 


￦


53,919,009




 
 
(Concluded)
 
 
HYUNDAI MOTOR COMPANY
 
 
SEPARATE STATEMENTS OF CASH FLOWS
 
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
 
 
 
 




 


 


 


 


2019


 


2018




 


 


 


 


(In millions of Korean Won)




Cash flows from operating activities:


 


 


 


 


 


 




               Cash generated from operations:


 


 


 


 


 


 




                              Profit for the year


 


 


 


￦


2,832,289


 


￦


414,941




                              Adjustments


 


 


 


 


3,449,795


 


 


4,094,850




                              Changes in operating assets and liabilities


 


 


 


 


(1,521,506)


 


 


(3,142,766)




 


 


 


 


 


4,760,578


 


 


1,367,025




               Interest received


 


 


 


 


277,444


 


 


360,805




               Interest paid


 


 


 


 


(132,884)


 


 


(142,051)




               Dividend received


 


 


 


 


1,150,356


 


 


691,099




               Income tax paid


 


 


 


 


(450,238)


 


 


(617,659)




Net cash provided by operating activities


 


 


 


 


5,605,256


 


 


1,659,219




 


 


 


 


 


 


 


 


 




Cash flows from investing activities:


 


 


 


 


 


 


 


 




Proceeds from purchases of short-term  financial instruments, net


 


 


 


 


3,360


 


 


44,893




Proceeds from disposals (purchases) of other financial assets (current), net


 


 


 


 


487,320


 


 


2,603,653




Receipts from other receivables


 


 


 


 


30,066


 


 


70,027




Proceeds from disposals of other financial assets (non-current)           


 


 


 


 


1,261


 


 


82,823




Proceeds from disposals of property, plant and equipment


 


 


 


 


57,168


 


 


79,133




Proceeds from disposals of intangible assets


 


 


 


 


1,683


 


 


1,140




Disposal of assets classified as held for sale


 


 


 


 


43,830


 


 


-




Acquisitions of other financial assets (non-current)


 


 


 


 


(555,791)


 


 


(74,760)




Increases in other receivables


 


 


 


 


(31,902)


 


 


(39,961)




Acquisitions of property, plant and equipment


 


 


 


 


(2,727,245)


 


 


(1,993,920)




Acquisitions of intangible assets


 


 


 


 


(1,491,369)


 


 


(1,442,606)




Acquisitions of investments in subsidiaries, joint ventures
and associates


 
 


 


 


 


(701,466)


 


 


(100,097)




Net cash used in investing activities


 


 


 


 


(4,879,282)


 


 


(769,633)




 


 


 


 


 


 


 


 


 




Cash flows from financing activities:


 


 


 


 


 


 


 


 




Proceeds from short-term borrowings, net


 


 


 


 


1,042,608


 


 


728,055




Repayment of lease liabilities


 


 


 


 


(59,438)


 


 


-




Purchase of treasury stock


 


 


 


 


(458,031)


 


 


(454,735)




Dividends paid


 


 


 


 


(1,063,316)


 


 


(1,076,725)




Net cash used in financing activities


 


 


 


 


(538,177)


 


 


(803,405)




 


 


 


 


 


 


 


 


 




Net decrease in cash and cash equivalents


 


 


 


 


187,797


 


 


86,181




 


 


 


 


 


 


 


 


 




Cash and cash equivalents, beginning of the year


 


 


 


 


194,203


 


 


108,022




 


 


 


 


 


 


 


 


 




Cash and cash equivalents, end of the year


 


 


 


￦


382,000


 


￦


194,203




 
 
 
 
 
 
 
 
 
Item 2:  Partial Amendment of the Articles of Incorporation
 




Agenda


Pre-amended Provision


Post-amended Provision


Purpose of Amendment




 
 
 
 
 
 
Article 2
(Business Purpose)


(1) To manufacture and sell all kinds of vehicles and component parts thereof


(1) To manufacture and sell all kinds of vehicles and other means of transportation and component parts thereof


To pursue various types of new future mobility business as outlined during Strategy 2025 Presentation in order to transform into a smart mobility solution provider




 
 
<Newly Established>


(31) To engage in charging business applicable to all types of vehicle including electrified vehicles, and all other related business


To pursue new business, such as building charging stations for electrified vehicles




(31) To operate all related business with above purposes


(32) To operate all related business with above purposes


 




Addendum


 
 
 
<Newly Established>


Addendum (2020.3.19) Article 1. (Effective Date)

The amended articles of Incorporation shall become effective on the resolution date of the annual general meeting of shareholders for the 52nd fiscal year


 




 
Item 3:  Appointment of Director(s)
 
l Item 3-1 : Appointment of an Independent Director 
*Nominee (1 person)




Name


Date of birth


Major Career


Transaction with the Company




Recommended by




Choi,
Eun Soo


July, 1954


· Legal advisor of DR & AJU Law Firm (current)
· President of Daejeon High Court and Patent Court (former)


None




IDCRC1




 
l Item 3-2 : Appointment of an Internal Director
*Nominee (1 person)




Name


Date of birth


Major Career


Transaction with the Company




Recommended by




Kim,
Sang Hyun


December, 1968


· CFO, Head of Finance & Accounting Division (current)
· Head of Finance & Accounting Sub-Division (former)


Owns 135 common shares of

the Company




BOD2




 
 
 
 
 
 
 
 
Item 4:  Appointment of Audit Committee Member(s)
*Nominee (1 person)




Name


Date of birth


Major Career


Transaction with the Company




Recommended by




Choi,
Eun Soo


July, 1954


· Legal advisor of DR & AJU Law Firm (current)
· President of Daejeon High Court and Patent Court (former)


None




IDCRC1




1. Independent Director Candidate Recommendation Committee
2. Board of Directors
 
Item 5:  Approval of Ceiling Amount of Remuneration for Directors
 




Year


Number of BOD


Ceiling Amount




2020


11 persons


13.5 billion Korean Won




 


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