FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For October 27, 2003

Commission File Number 001-31335

AU Optronics Corp.
(Translation of registrant’s name into English)

No. 1 Li-Hsin Road 2
Science-Based Industrial Park
Hsinchu, Taiwan
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  X   Form 40-F ___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
____

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s "home country"), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ___ No   X  

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
Not applicable

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INDEX TO EXHIBITS

Item
1.	Investor Conference Materials entitled, “AU Optronics 2003 3rd Quarter Results”, dated October 27, 2003
2.	Press release entitled, “AU OPTRONICS REPORTS UNAUDITED 2003 THIRD QUARTER RESULTS”, dated October 27, 2003
3.	Press release entitled, “AU OPTRONICS to raise Its Financial Forecast”, dated October 27, 2003
4.	Taiwan Stock Exchange filing entitled, “The Board Resolution to have indirect investment in Mainland China”, dated October 27, 2003
5.	Taiwan Stock Exchange filing entitled, “The company's forecast is to be revised again”, dated October 27, 2003

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	AU Optronics Corp.
Date: October 27, 2003	By:	/s/ Max Weishun Cheng
		Name: Max Weishun Cheng Title:    Chief Financial Officer

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Item 1

Agenda Welcome and Introduction 3Q ’03 Financial Results Recent Development Remarks Q&A

 

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Safe Harbor Notice

The statements included in this presentation that are not historical in nature are “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements, which may include statements regarding AU Optronics’ future results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on AU Optronics’ current expectations. Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the TFT-LCD industry; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates. Additional information as to these and other factors that may cause actual results to differ materially from AU Optronics’ forward-looking statements can be found in AU Optronics’ annual report on Form 20-F filed with the United States Securities and Exchange Commission on June 30, 2003.

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3Q 2003 Income Statement (Consolidated)
Amount: NT$ Million Except Per Share Data
		3Q’03(a)				2Q’03				QoQ Change %		Jan-Sep’O3(a)
Net Sales(b)		28,371		100.0%		23,842		100.0%		19.0%		70,481		100.0%
Cost of Goods Sold		(21,038	)	(74.2%)		(19,241	)	(80.7%)		9.3%		(56,657	)	(80.4%)
Gross Profit		7,333		25.8%		4,601		19.3%		59.4%		13,824		19.6%
Operating Expenses		(2,129	)	(7.5%)		(1,618	)	(6.8%)		31.6%		(5,090	)	(7.2%)
Operating Income		5,204		18.3%		2,983		12.5%		74.5%		8,734		12.4%
Net Non-operating Income (Exp.)		(215	)	(0.8%)		(57	)	(0.2%)		277.2%		(640	)	(0.9%)
Income before Tax		4,989		17.6%		2,926		12.3%		70.5%		8.094		11.5%
Income Tax Credit (Exp.)		0		0.0%		0		0.0%		0.0%		0		0.0%
Net Income		4,989		17.6%		2,926		12.3%		70.5%		8,094		11.5%
Basic EPS (NT$)(c)		1.17				0.69						1.90
Fully Diluted EPS (NT$)(c)		1.15				0.68						1.87
Op lncome + D & A		9,361		33.0%		6,811		28.6%		37.4%		20,224		28.7%
Unit Shipment (Million)
Large Size Panels		3.1				2.8				13.2%		8.2
Small & Medium Panels (A/V)		7.6				4.7				61.3%		15.0
(a)	Unaudited, prepared by AU Optronics Corp. on a consolidated basis
(b)	Consolidated net sales reflect the cumulative foreign exchange translation adjustment from weighted average exchange rate fluctuations between US$/NT$/RMB during the period
(c)	Total weighted average outstanding shares at 4,269 million and 4,337 million were used in Basic and Fully Diluted EPS calculation for 3Q’03, while and 4,255 million and 4,337 million were used for 2Q’03.
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3Q 2003 Balance Sheet Highlights (Consolidated)
Amount: NT$ Million
	3Q03(a)			2Q’03(a)					QoQ Change %
Cash & ST Investment	17,091				18,523				(7.7%)
Inventory	7,994				7,162				11.6%
LT Debt	19,369				22,204				(12.8%)
Equity	85,009				78,812				7.9%
Total Assets	137,997				131,956				4.6%
Fixed Assets	123,637				114,172
Accumulated Depreciation	(35,617	)	28.8%		(31,990	)	28.0%
Net Fixed Assets	88,020				82,182
Debt to Equity (Fully Diluted)	32.1	%			38.3	%
Net Debt to Equity (Fully Diluted)	15.5	%			18.5	%
(a) Unaudited, prepared by AU Optronics Corp. on a consolidated basis
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3Q 2003 Cash Flow Highlights (Consolidated)
Amount : NT$ Million
		3Q’03(a)		2Q’03(a)		QoQ Change			Jan-Sep ’O3(a)
From Operation		11,815		8,844		2,971			22,926
Net Profit		4,989		2,926		2,063			8,094
Depreciation & Amortization		4,157		3,828		329			11,490
From Investment		(7,897	)	(9,114	)	1,217			(24,747	)
Capital Expenditure		(7,484	)	(9,683	)	2,199			(24,077	)
From Financing		(5,628	)	(1,950	)	(3,678	)		(9,991	)
Repayment of Long Term Debt		(4,199	)	(1,847	)	(2,352	)		(8,945	)
Syndication Loan(b)		(10	)	348		(358	)		338
(a)	Unaudited, prepared by AU Optronics Corp. on a consolidated basis
(b)	US$10 mm reduction in syndication loan for 3Q’03 reflects the US$/NT$ exchange rate fluctuation from 34.8 in 2Q’03 to 33.8 in 3Q03.
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3 

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Balance Sheet & Cash Flow (Unconsolidated) YoY Comparison
Amount: NT$ Million
	3Q’03				3Q’02				Change %
Cash & Cash Equivalents	13,714		10.2	%	26,382		20.4%		(48.0%)
ST Inv. & Marketable Securities	2,843		2.1	%	3,509		2.7%		(19.0%)
LT Debt	17,956		13.4	%	27,355		21.2%		(34.4%)
Equity	85,009		63.5	%	78,441		60.7%		8.4%
Total Assets	133,941		100.0	%	129,129		100.0%		3.7%
Debt to Equity (Fully Diluted)	29.1	%			42.6	%
Net Debt to Equity (Fully Diluted)	13.0	%			9.7	%
Depreciation & Amortization	3,981				3,354				18.7%
Capital Expenditure	6,463				3,040				112.6%
Inventory	6,956				8,704				(20.1%)
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http://www.auo.com IR@auo.com

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AU OPTRONICS CORP. UNCONSOLIDATED BALANCE SHEET As of September 30, 2003 and 2002 (Figures in Millions of New Taiwan dollars (NTD) and U.S. dollars (USD))
	As of September 30, 2003						As of September 30, 2002				YoY
ASSETS	USD		NTD		%		NTD		%		Change		%
Cash and Cash Equivalents	406		13,714		10.2		26,382		20.4		(12,668	)	(48.0	)
Short-term Investment	84		2,843		2.1		3,509		2.7		(666	)	(19.0	)
Notes & Accounts Receivables	477		16,105		12.0		13,034		10.1		3,071		23.6
Other Current Financial Assets	22		738		0.6		176		0.1		562		319.3
Inventories	206		6,956		5.2		8,704		6.8		(1,748	)	(20.1	)
Other Current Assets	54		1,801		1.4		1,040		0.8		761		73.2
Total Current Assets	1,249		42,157		31.5		52,845		40.9		(10,688	)	(20.2	)
Long-term Investments	50		1,699		1.3		1,622		1.3		77		4.7
Fixed Assets	3,503		118,211		88.3		88,751		68.7		29,460		33.2
Less Accumulated Depreciation	(1,040	)	(35,094)		(26.2	)	(22,749	)	(17.6	)	(12,345	)	54.3
Net Fixed Assets	2,463		83,117		62.1		66,002		51.1		17,115		25.9
Other Assets	207		6,968		5.1		8,660		6.7		(1,692	)	(19.5	)
Total Assets	3,969		133,941		100.0		129,129		100.0		4,812		3.7
LIABILITIES
Accounts Payable	639		21,571		16.1		12,750		9.9		8,821		69.2
Current Installments of Long-term Liabilities	204		6,892		5.1		8,392		6.5		(1,500	)	(17.9	)
Other Current Liabilities	71		2,390		1.8		2,106		1.6		284		13.5
Total Current Liabilities	914		30,853		23.0		23,248		18.0		7,605		32.7
Long-term Borrowings	522		17,632		13.2		23,190		18.0		(5,558	)	(24.0	)
Long-term Commercial Paper	0		0		0.0		1,284		1.0		(1,284	)	(100.0	)
Bonds and Convertible Bonds Payable	10		324		0.2		2,881		2.2		(2,557	)	(88.8	)
Other Long-term Liabilities	4		123		0.1		85		0.1		38		44.7
Total Liabilities	1,450		48.932		36.5		50,688		39.3		(1,756	)	(3.5	)
SHAREHOLDERS’ EOUITY
Common Stock	1,288		43,474		32.5		40,022		31.0		3,452		8.6
Capital Surplus	953		32,170		24.0		31,582		24.5		588		1.9
Retained Earnings	285		9,615		7.2		6,800		5.2		2,815		41.4
Cumulative Translation Adjustment	0		1		0.0		37		0.0		(36	)	(97.3	)
Treasury Stock	(7	)	(251	)	(0.2	)	0		0.0		(251	)	na.
Total Stockholders’ Equity	2,519		85,009		63.5		78,441		60.7		6,568		8.4
Total Liabilities & Stockholders’ Equity	3,969		133,941		100.0		129,129		100.0		4,812		3.7

Note: New Taiwan dollars amounts have been translated into U.S. dollars at the rate of NT$ 33.75 per U.S. dollar at the end of September, 2003

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AU OPTRONICS CORP.
UNCONSOLIDATED INCOME STATEMENT
For the Three Months Ended September 30, 2003 and 2002 and June 30, 2003
(Expressed in Millions New Taiwan Dollars (NTD) and U.S. Dollars (USD)
Except for Per Share Data and Shares Outstanding)

		Year over Year Comparison										Sequential Comparison
		Jan-Sep2003				% of	Jan-Sep2002			YoY		3Q2003				% of		2Q 2003		QoQ
		USD		NTD		Sales		NTD		Chg %		USD		NTD		Sales		NTD		Chg %
Net Sales		1,898		65,527		100.0		59,543		10.0		763		26,335		100.0		22,076		19.3
Cost of Goods Sold		1,515		52,284		79.8		47,854		9.3		556		19,205		72.9		17,587		9.2
Gross Profit (Loss)		383		13,243		20.2		11,689		13.3		207		7,130		27,1		4,489		58.8
Operating Expenses
Selling		27		947		1.4		394		140.4		17		576		2.2		219		163.0
Administrative		48		1,640		2.5		1,008		62.7		17		580		2.2		582		(0.3	)
Research and Development		63		2,182		3.3		1,630		339		24		847		3.2		738		14.8
Total Operating Expenses		138		4,769		7.3		3,032		57.3		58		2,003		7.6		1,539		30.1
Total Operating Income (Loss)		245		8,474		12.9		8,657		(2.1	)	149		5,127		19.5		2,950		73.8
Net Non-Operating Income (Expenses)		(11	)	(380	)	(0.6	)	(1,857	)	(79.5	)	(4	)	(138	)	(0.6	)	(24	)	475.0
Income (Loss) before Income Tax		234		8,094		12.4		6,800		19.0		145		4,989		18.9		2,926		70.5
Income Tax (Expense) Benefit		0		0		0.0		0		n.a		0		0		0.0		0		-
Net Income (Loss)		234		8,094		12.4		6,800		19.0		145		4,989		18.9		2,926		70.5
Basic Earnings (Loss) Per Share		0.0549		1.90				1.94				0.0339		1.17				0.69
Basic Earnings (Loss) Per ADS		0.5492		18.96				19,35				0.3386		11.69				6.88
Weighted Average Number of Shares Outstanding (M)				4,269				3,514						4,269				4,255

Note:	(1)	New Taiwan dollars amounts have been translated into U.S. dollars at the weighted average rate of NT$34.521 per U.S. dollar for the average rate of 2003 year to date.
	(2)	1 ADR equals 10 ordinary shares

 

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AU OPTRONICS CORP.
UNCONSOLIDATED STATEMENT OF CASH FLOWS
For the 9 Months Ended September 30, 2003 and 2002
(Figures in Million of New Taiwan dollars (NTD) and U.S.. dollars (USD))

	2003				2002
	USD		NTD		NTD
Cash Flows from Operating Activities:
Net Income	234		8,094		6,800
Depreciation & Amortization	321		11,083		9,382
Provision (Reversal) for Inventory Devaluation	2		69		179
S.T & L.T Investment Loss recovery profit	(2	)	(84	)	1,047
Changes in Working Capital & Others	42		1,447		(1,754	)
Net Cash Provided by (Used in) Operating Activities	597		20,609		15,654
Cash Flows from Investing Activities:
Decrease (Increase) in Short-term Investments	10		349		869
Acquisition of Property, Plant and Equipment	(621	)	(21,441	)	(10,082	)
Proceeds from Disposal of Property, Plant and Equipment	14		476		82
Increase in Long-term Equity Investments	(15	)	(526	)	(1,734	)
Decrease (Increase) in Restricted Cash in Bank	1		23		93
Increase in Intangible Assets	(24	)	(812	)	(963	)
Decrease (Increase) in Other Assets	1		44		(2	)
Net Cash Used in Investing Activities	(634	)	(21,887	)	(11,737	)
Cash Flows from Financing Activities:
Decrease in Short-term Borrowings	0		0		(2,586	)
Decrease in Guarantee Deposits	(1	)	(22	)	0
Increase (Decrease) in Long-term Borrowings	(249	)	(8,608	)	(557	)
Issuance of Common Stock for Cash	0		0		19,170
Directors’ and Supervisors’ Remuneration	(2	)	(54	)	0
Cash Dividends	(58	)	(2,007	)	0
Increase in Treasury Stock	(2	)	(68	)	0
Net Cash Provided by Financing Activities	(312	)	(10,759	)	16,027
Effect of Exchange Rate Change on Cash	3		92		(5	)
Net Increase (Decrease) in Cash and Cash Equivalents	(346	)	(11,945	)	19,939
Cash and Cash Equivalents at Beginning of Period	743		25,659		6,443
Cash and Cash Equivalents at End of Period	397		13,714		26,382

Note: New Taiwan dollars amounts have been translated into U.S. dollars at the rate of NT$ 34.521 per U.S. dollar at the end of September, 2003

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Item 2.

 

News Release

 

AU OPTRONICS REPORTS UNAUDITED 2003 THIRD QUARTER RESULTS

Both Consolidated Revenues of NT$28,371 Million and Pre-Tax Income of NT$4,989 Million Achieved Record High Results

FOR MORE INFORMATION

Yawen Hsiao

Corporate Communications Dept.

AU Optronics Corp.
No.1, Li-Hsin Road 2, Science-Based Industrial Park,
Hsinchu City, 300, Taiwan, R.O.C.
Tel: +886-3-5632939 ext 3211
Fax: +886-3-5637608
Email: yawenhsiao@auo.com

AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), the world’s third largest manufacturer of large-size TFT-LCD panels, today announced its unaudited consolidated results of operations for the nine months ended September 30, 2003. All financial information was prepared by the Company in accordance with generally accepted accounting principles in Taiwan (“ROC GAAP”) on a consolidated basis. There are many differences between ROC GAAP and U.S. GAAP, some of which are described in the notes to the financial statements contained in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission on June 30, 2003. The unaudited consolidated financial information mentioned herein is not necessarily indicative of our future financial results.

Hsin Chu, Taiwan, October 27, 2003 –

     AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO) today held a meeting of the Board of Directors and Supervisors, at which the Board approved its unaudited financial results for the nine months ended September 30, 2003. Both consolidated net sales and pre-tax income for 3Q 2003 set the record high quarterly performance for a single quarter. Consolidated net sales reached NT$28,371 million in the third quarter of 2003, with net income amounted to NT$4,989 million and fully diluted EPS of NT$1.15. Unconsolidated revenues for the third quarter 2003 were NT$26,335 million.

     For the first nine months ended September 30, 2003, unaudited consolidated net sales totaled NT$70,481 million, net income NT$8,094 million and fully dilated EPS NT$1.87. All figures are unaudited and are prepared by the Company in accordance with generally accepted accounting principles in Taiwan (“ROC GAAP”).

     “AUO strives to become the world’s top TFT LCD player with leading operational efficiency. Through our concerted effort on technology development, costs control,

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News Release

product mix and capacity allocation optimization, and customer portfolio enhancement, we have further solidified our leadership in Taiwan while significantly strengthening our global competitiveness. Not only was AUO able to outperform our peers in Taiwan by a wide margin for 1H’03 under a slow business environment, we continue to post solid growth during an industry recovery, as evidenced by the Company’s strong 3Q’03 results. AUO’s consolidated gross margin improved significantly from 19.3% in 2Q’03 to 25.8% in 3Q’03, net margin rose from 12.3% to 17.6%, and operating income posted a strong 74.5% sequential growth to reach NT$5,204 million.” Said HB Chen, President and COO of AU Optronics.

     Dr. Hui Hsiung, EVP and head of AUO Business Unit, further elaborated, “With overall demand for TFT-LCDs continuing to grow in 3Q’03 and ASPs remaining stable, unit shipment for AUO’s large size panels increased 13.2% QoQ to over 3.1 million in 3Q’03, and unit shipment for small and medium size panels also posted a remarkable 61.3% sequential growth to over 7.6 million. The healthy shipment growth is mainly attributed to new capacity from AUO’s Phase I Gen 5 fab (L8A, 1,100x1,250mm) currently in the ramp-up process. Monthly input capacity of Fab L8A has increased to 35,000 substrates in September and is expected to reach full capacity of 50,000 substrates by the end of 2003. Phase II of our Gen 5 fab (L8B, 1,100x1,300mm) will start mass production by end of 1Q’04, and is scheduled to reach full capacity of 70,000 substrates per month by end of 3Q’04. AUO’s combined Gen 5 input capacity is expected to reach 120,000 substrates per month by then. In addition, AUO’s in-house Gen 5 color filter fab (C1, 1,100x1,300mm) has commenced volume production in October, and is scheduled to reach monthly 30,000 substrates capacity by end of this year.”

Forward-Looking Statements

Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on June 30, 2003.

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Item 3.

News Release

 

AU OPTRONICS TO RAISE ITS FY2003 FINANCIAL FORECAST

FOR MORE INFORMATION

Yawen Hsiao
Corporate Communications Dept.
AU Optronics Corp.
No.1, Li-Hsin Road 2, Science-Based Industrial Park,
Hsinchu City, 300, Taiwan, R.O.C.
Tel: +886-3-5632939 ext 3211
Fax: +886-3-5637608
Email: yawenhsiao@auo.com

Hsin Chu, Taiwan, October 27, 2003 –

     AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO) today announced that due to strong financial results for the first nine months of 2003, the Company now expects to post 2003 net income that exceeds by more than 20% over the 2003 financial forecast filed in August 2003 in accordance with local regulatory requirements. Therefore, the 2003 financial forecast AUO filed in August 2003 is no longer deemed adequate.

     AUO held a meeting of the Board of Directors and Supervisors, at which the Board approved its unaudited financial results for the nine months ended September 30, 2003. With industry outlook remains healthy for the fourth quarter of 2003 and better than expected 3Q’03 results, AUO is likely to post net profit in 2003 that would exceed by more than 20% over the forecast filed in August 2003. In compliance with ROC government regulations, AUO is raising its financial forecast for fiscal year 2003 accordingly.

Based on the updated forecast, which is under auditors’ review, AUO’s consolidated and unconsolidated net sales for the year are estimated to be approximately NT$102,800

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News Release

million and NT$94,100 million, respectively, while updated income before tax and net income are both estimated to be around NT$14,100 million. The updated financial forecast for 2003 is being reviewed by the Company’s auditors, and will be formally announced within 10 days.

Forward-Looking Statements

Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on June 30, 2003.

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Item 4.

AU Optronics Corp.
October 27, 2003
English Language Summary

Subject: The Board Resolution to have indirect investment in Mainland China.

Regulation:

Published pursuant to Article 2-20 of the Taiwan Stock Exchange's Operating Procedures for the Publication of Material Information by Listed Companies

Date of events: 2003/10/27

Content:

1.	Date of occurrence of the event:2003/10/27
2.	Method of the present increase (decrease) in investment: Indirect investment through an offshore entity.
3.	Transaction volume, price per unit, and total monetary amount of the transaction: Total amount of US$ 100 million
4.	Company name of the invested mainland Chinese company: AU Optronics (Suzhou) Corp.
5.	Paid-in capital of said invested mainland Chinese company:US$ 70 million
6.	Amount of new capital increment currently planned by said invested mainland Chinese company: US$ 100 million
7.	Main business items of said invested mainland Chinese company: TFT-LCD module production and assembly
8.	Type of CPA opinion issued for the financial statement of said invested mainland Chinese company for the most recent fiscal year: Unqualified opinion
9.	Net worth of said invested mainland Chinese company on the financial statement for the most recent fiscal year: RMB 183,819 thousand
10.	Amount of profit/loss of said invested mainland Chinese company on the financial

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	statement for the most recent fiscal year: Net loss of RMB 229,190 thousand
11.	Amount of actual investment to date in said invested mainland Chinese company: US$70 million
12.	Counterparty to the transaction and its relationship to the Company: AU Optronics  Corp. Parent company.
13.	Where the counterparty to the transaction is an actual related party, public announcement shall also be made of the reason for choosing the related party as the counterparty and the identity of the previous owner (including its relationship with the company and the trading counterpart), the date of transfer, and the price: N/A
14.	Where a person who owned the subject matter of the transaction within the past five years has been an actual related party of the company, public announcement shall also be made of the dates and prices of acquisition and disposal by the related party and such  party's relationship to the company at those times: N/A
15.	Gain (or loss) on disposal: N/A
16.	Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: N/A
17.	The manner of deciding on this transaction, the reference basis for the decision on price and the decision-making department: N/A
18.	Broker: N/A
19.	Concrete purpose of the acquisition or disposal: Long term investment
20.	Do the directors have any objection to the present transaction?: No
21.	Total amount of mainland China area investment (including the present investment) approved by the Investment Commission to date: US$ 70 million. In addition, the investment amount proposed by the Board this time is US 100 million, pending the approval of Investment Commission.

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22.	Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the paid-in capital on the financial statement for the most recent period: 13.47%
23.	Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the total assets on the financial statement for the most recent period: 4.29%
24.	Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the shareholders’ equity on the financial statement for the most recent period: 6.77%
25.	Total amount of actual investment in the mainland China area to date: US$ 70 million
26.	Ratio of the total amount of actual investment in the mainland China area to date to paid-in capital on the financial statement for the most recent period: 5.55%
27.	Ratio of the total amount of actual investment in the mainland China area to date to total assets on the financial statement for the most recent period: 1.77%
28.	Ratio of the total amount of actual investment in the mainland China area to date to  shareholders’ equity on the financial statement for the most recent period: 2.79%
29.	Amount of recognized profits and losses on investment in the mainland China area for the most recent three fiscal years: Recognized profits/(losses):  2002: (US$24,906) thousand    2001: US$ 0      2000: US$ 0
30.	Amount of profit remitted back to Taiwan for the most recent three fiscal years: 0
31.	Has the CPA issued an opinion on the unreasonableness of the price of the current transaction?: No
32.	Any other matters that need to be specified: N/A

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Item 5.

AU Optronics Corp.
October 27, 2003
English Language Summary

Subject: The company's forecast is to be revised again.

Regulation:

Published pursuant to Article 2-13 of the Taiwan Stock Exchange's Operating Procedures for the Publication of Material Information by Listed Companies Date of events: 2003/10/27 Content:

1.	Fiscal year of the financial forecast:2003
2.	Date of inapplicability of the original financial forecast:2003/10/27
3.	Reason for preparation of the financial forecast:1. Cumulative changes in number of board directors reached one-third or more during the same term of the Board; 2. Within 3 years after the year of IPO; 3. Rights issue in 2002
4.	Name of the reviewing CPA:Alfred S. H. Wei and Alfred Chen of KPMG Certified Public Accountants
5.	Monetary amounts of major accounting items of the balance sheet and income statement:

Unit: NTD billion	First Revision		Second Revision
Net Sales	90.5		94.1
Gross Profit	17.5		21.5
Operating Income	11.5		14.7
Income before Income Tax	10.5		14.1

6.	Reason for inapplicability of the financial forecast and monetary amount affected: ASP movement and shipment growth differed from the assumptions under

	first-revision financial forecast.
7.	Any other matters that need to be specified: N/A

 

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