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AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS' REPORT

DECEMBER 31, 2025 AND 2024

For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES
DECEMBER 31, 2025 AND 2024 CONSOLIDATED FINANCIAL STATEMENTS
AND INDEPENDENT AUDITORS' REPORT
TABLE OF CONTENTS

Contents	Page
1. Cover Page	1
2. Table of Contents	2 ~ 3
3. Declaration of Consolidated Financial Statements of Affiliated Enterprises	4
4. Independent Auditors' Report	5 ~ 11
5. Consolidated Balance Sheets	12 ~ 13
6. Consolidated Statements of Comprehensive Income	14 ~ 15
7. Consolidated Statements of Changes in Equity	16
8. Consolidated Statements of Cash Flows	17 ~ 18
9. Notes to the Consolidated Financial Statements	19 ~ 88
(1) HISTORY AND ORGANISATION	19
(2) THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORIZATION	19
(3) APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS	19 ~ 21
(4) SUMMARY OF MATERIAL ACCOUNTING POLICIES	21 ~ 36

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Contents

(5) CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY 37 ~ 38
(6) DETAILS OF SIGNIFICANT ACCOUNTS 38 ~ 69
(7) RELATED PARTY TRANSACTIONS 69 ~ 70
(8) PLEDGED ASSETS 71
(9) SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT COMMITMENTS 71
(10) SIGNIFICANT DISASTER LOSS 71
(11) SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE 71
(12) OTHERS 71 ~ 83
(13) SUPPLEMENTARY DISCLOSURES 83 ~ 84
(14) SEGMENT INFORMATION 84 ~ 88

Representation Letter

In connection with the Consolidated Financial Statements of Affiliated Enterprises of AMTRAN TECHNOLOGY CO., LTD. (the "Consolidated FS of the Affiliates"), we represent to you that, the entities required to be included in the Consolidated FS of the Affiliates as of and for the year ended September 30, 2024 in accordance with the "Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises" are the same as those required to be included in the Consolidated Financial Statements of AMTRAN TECHNOLOGY CO., LTD. and its subsidiaries (the "Consolidated FS of the Group") in accordance with International Financial Reporting Standard 10, as well as that, the information required to be disclosed in the Consolidated FS of Affiliates is disclosed in the Consolidated FS of the Group. Consequently, AMTRAN TECHNOLOGY CO., LTD. does not prepare a separate set of Consolidated FS of Affiliates.

Very truly yours,

AMTRAN TECHNOLOGY CO., LTD.

(Name of Chairman), Chairman

November 7, 2024

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INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Stockholders of Amtran Technology Co., Ltd.

Opinion

We have audited the accompanying consolidated balance sheets of Amtran Technology Co., Ltd. and its subsidiaries (the "Group") as at December 31, 2025 and 2024, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the reports of other auditors (please refer to the Other matter section), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant in the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audits and the reports of other independent auditors,

we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2025 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matters for the Group’s 2025 consolidated financial statements are stated as follows:

Allowance for inventory valuation losses

Description

Refer to Note 4(14) for accounting policies on inventory valuation, Note 5(2) for the uncertainty of accounting estimates and assumptions applied on inventory valuation, and Note 6(5) for details of inventory. As at December 31, 2025, the balances of inventory and allowance for inventory valuation losses were NT$ 4,177,477 thousand and NT$ 116,916 thousand, respectively.

The Group is primarily engaged in manufacturing and sales of 3C electronic products. Due to rapid technology innovations, short lifespan of electronic products and fluctuations in market prices, there is a higher risk of inventory losses due from market value decline. The Group recognises inventories at the lower of cost and net realisable value, and identifies the net realisable value of separately identified inventories using the item by item approach in determining the lower of cost and net realisable value and corroborating against supporting documents those inventory items separately identified as obsolete and damaged in recognising valuation losses.

As the net realisable value used in the valuation of obsolete and damaged inventories usually involves subjective judgement and high degree of uncertainty, and the amount of inventories and allowance for inventory valuation losses are material to the financial statements, we considered the allowance for inventory valuation losses a key audit matter.

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How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

A. Assessed the reasonableness and consistent application of provision policies and procedures on allowance for inventory valuation losses based on the understanding of the Group’s business and industrial nature;

B. Obtained valuation statement of net realisable value of inventory, understood the calculation logic, verified relevant accounting records and selected samples from the data sources of net realisable value; and

C. Obtained the details of obsolete and damaged inventories which were separately identified by management, examined relevant documents, verified accounting records in comparing the allowance for inventory valuation losses of prior period, and assessed the reasonableness of allowance for inventory valuation losses.

Other matter – Reference to the audits of other auditors

As described in Note 6(7), we did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts and information disclosed in Note 13 included in respect of these associates, is based solely on the reports of the other auditors. The balance of these investments accounted for under the equity method amounted to NT$447,516 thousand and NT$478,134 thousand, both constituting 2% of the consolidated total assets, as at December 31, 2025 and 2024, respectively, and the comprehensive (loss) income recognised from associates and joint ventures accounted for under the equity method amounted to NT$(19,065) thousand and NT$37,301 thousand, constituting (3.45%) and 2.40% of the consolidated total comprehensive income for the years then ended, respectively.

Other matter – Parent company only financial statements

We have audited and expressed an unmodified opinion with other matter paragraph on the parent company only financial statements of Amtran Technology Co., Ltd. as at and for the years ended December 31, 2025 and 2024.

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Responsibilities of management and those charged with governance for the consolidated financial statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including audit committee, are responsible for overseeing the Group's financial reporting process.

Auditors' responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:

A. Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

B. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.

C. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

D. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Group to cease to continue as a going concern.

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E. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

F. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

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From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

For and on Behalf of PricewaterhouseCoopers, Taiwan
March 4, 2026

The accompanying consolidated financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying consolidated financial statements and independent auditors' report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

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AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Assets	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
Current assets
1100	Cash and cash equivalents	6(1)	$ 4,092,114	19	$ 4,793,612	23
1110	Financial assets at fair value through profit or loss - current	6(2)	1,509,651	7	1,354,128	6
1120	Current financial assets at fair value through other comprehensive income	6(3)	65,439	-	68,437	-
1136	Current financial assets at amortised cost	6(1)	1,433,740	7	2,227,272	11
1170	Accounts receivable, net	6(4)	4,918,090	23	4,435,074	21
1180	Accounts receivable - related parties	7	110,902	-	128,076	1
1200	Other receivables		47,391	-	42,784	-
130X	Inventory	6(5)	4,060,561	19	2,721,745	13
1410	Prepayments	6(6)	194,637	1	242,927	1
1470	Other current assets	6(1) and 8	1,681	-	738	-
11XX	Total current assets		16,434,206	76	16,014,793	76
Non-current assets
1550	Investments accounted for under equity method	6(7)	672,942	3	672,794	3
1600	Property, plant and equipment	6(8) and 8	2,647,218	13	2,386,619	11
1755	Right-of-use assets	6(9)	699,047	3	758,955	4
1760	Investment property - net	6(10)	563,263	3	573,922	3
1780	Intangible assets	6(11)	34,216	-	27,208	-
1840	Deferred income tax assets	6(26)	172,171	1	257,857	1
1900	Other non-current assets		268,752	1	480,908	2
15XX	Total non-current assets		5,057,609	24	5,158,263	24
1XXX	Total assets		$ 21,491,815	100	$ 21,173,056	100

(Continued)

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Liabilities and Equity	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
Current liabilities
2100	Short-term borrowings	6(12)	$ 600,000	3	$ 650,000	3
2130	Current contract liabilities	6(20)	53,363	-	24	-
2170	Accounts payable	7	5,189,615	24	4,205,777	20
2200	Other payables	6(13)	1,169,009	5	1,230,982	6
2230	Current income tax liabilities		8,884	-	250,725	1
2250	Provisions for liabilities - current	6(15)	156,814	1	103,804	-
2280	Current lease liabilities		16,957	-	20,629	-
2300	Other current liabilities		357,849	2	345,796	2
21XX	Total current liabilities		7,552,491	35	6,807,737	32
Non-current liabilities
2570	Deferred income tax liabilities	6(26)	310,900	2	266,118	1
2580	Non-current lease liabilities		10,951	-	10,817	-
2600	Other non-current liabilities	6(14)	76,994	-	79,137	1
25XX	Total non-current liabilities		398,845	2	356,072	2
2XXX	Total liabilities		7,951,336	37	7,163,809	34
Equity attributable to owners of parent
	Share capital	6(16)
3110	Common stock		6,100,000	28	6,800,000	32
	Capital surplus	6(17)
3200	Capital surplus		2,261,663	11	2,261,663	11
	Retained earnings	6(18)
3310	Legal reserve		2,252,158	10	2,122,911	10
3320	Special reserve		-	-	227,313	1
3350	Unappropriated retained earnings		3,005,408	14	2,420,409	11
	Other equity interest	6(19)
3400	Other equity interest		( 242,158 )	( 1 )	13,162	-
31XX	Equity attributable to owners of the parent		13,377,071	62	13,845,458	65
36XX	Non-controlling interest	6(19)	163,408	1	163,789	1
3XXX	Total equity		13,540,479	63	14,009,247	66
	Significant contingent liabilities and unrecognised contract commitments	9
	Significant events after the balance sheet date	11
3X2X	Total liabilities and equity		$ 21,491,815	100	$ 21,173,056	100

The accompanying notes are an integral part of these consolidated financial statements.

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
4000	Sales revenue	6(20) and 7	$ 24,659,058	100	$ 23,235,700	100
5000	Operating costs	6(5)(25) and 7	( 22,265,632)	( 90)	( 21,153,000)	( 91)
5900	Net operating margin		2,393,426	10	2,082,700	9
	Operating expenses	6(25) and 7
6100	Selling expenses		( 523,219)	( 2)	( 548,133)	( 2)
6200	General and administrative expenses		( 671,168)	( 3)	( 642,188)	( 3)
6300	Research and development expenses		( 761,623)	( 3)	( 709,959)	( 3)
6000	Total operating expenses		( 1,956,010)	( 8)	( 1,900,280)	( 8)
6900	Operating profit		437,416	2	182,420	1
	Non-operating income and expenses
7100	Interest income	6(21)	183,604	1	229,237	1
7010	Other income	6(22)	298,860	1	196,637	1
7020	Other gains and losses	6(23)	58,506	-	910,692	4
7050	Finance costs	6(24)	( 13,153)	-	( 15,375)	-
7060	Share of profit or loss of associates	6(7)
	and joint ventures accounted for under equity method		63,172	-	29,157	-
7000	Total non-operating income and expenses		590,989	2	1,350,348	6
7900	Profit before income tax		1,028,405	4	1,532,768	7
7950	Income tax expense	6(26)	( 217,706)	( 1)	( 230,443)	( 1)
8200	Profit for the period		$ 810,699	3	$ 1,302,325	6

(Continued)

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
	Other comprehensive income
	Components of other comprehensive income that will be reclassified to profit or loss
8311	Actuarial gains on defined benefit plan	6(14)	$	420	-	$ 5,171
8320	Share of other comprehensive (loss) income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss	6(19)
8349	Income tax related to components of other comprehensive income that will not be reclassified to profit or loss	6(26)	(	21,345)	-	32,175
8310	Other comprehensive (loss) income that will not be reclassified to profit or loss		(	84)	-	( 1,034)
	Components of other comprehensive income that will be reclassified to profit or loss		(	21,009)	-	36,312
8361	Financial statements translation differences of foreign operations	6(19)	(	236,970)	( 1)	203,026
8367	Unrealised gains (losses) from investments in debt instruments measured at fair value through other comprehensive income	6(19)	(	3,005)	-	7,077
8370	Share of other comprehensive income of associates and joint ventures accounted for under equity method	6(19)		2,280	-	5,126
8360	Other comprehensive (loss) income that will be reclassified		(	237,695)	( 1)	215,229
8300	Total other comprehensive (loss) income for the period		($	258,704)	( 1)	$ 251,541
8500	Total comprehensive income for the period		$	551,995	2	$ 1,553,866
	Profit attributable to:
8610	Owners of the parent		$	791,597	3	$ 1,288,335
8620	Non-controlling interest			19,102	-	13,990
			$	810,699	3	$ 1,302,325
	Comprehensive income attributable to:
8710	Owners of the parent		$	536,613	2	$ 1,532,946
8720	Non-controlling interest			15,382	-	20,920
			$	551,995	2	$ 1,553,866
	Earnings per share (in dollars)	6(27)
9750	Basic earnings per share		$		1.22	$ 1.80
9850	Diluted earnings per share		$		1.21	$ 1.79

The accompanying notes are an integral part of these consolidated financial statements.

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

	Notes	Equity attributable to owners of the parent
		Retained Earnings				Other equity interest			Total	Non-controlling interest
		Share capital - common stock	Total capital surplus, additional paid-in capital	Legal reserve	Special reserve	Unappropriated retained earnings	Financial statements translation differences of foreign operations	Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income
Year ended December 31, 2024
Balance at January 1, 2024		$ 7,401,000	$ 2,261,663	$ 2,078,338	$ 254,690	$ 1,547,168	($ 183,413)	($ 43,899)	$ 13,315,547	$ 160,501
Profit for the year ended December 31, 2024		-	-	-	-	1,288,335	-	-	1,288,335	13,990
Other comprehensive income for the year ended December 31, 2024	6(19)	-	-	-	-	4,137	201,222	39,252	244,611	6,930
Total comprehensive income		-	-	-	-	1,292,472	201,222	39,252	1,532,946	20,920
Appropriations of 2023 net income	6(18)
Cash dividends		-	-	-	-	( 401,200 )	-	-	( 401,200 )	-
Legal reserve		-	-	44,573	-	( 44,573 )	-	-	-	-
Reversal of special reserve		-	-	-	( 27,377 )	27,377	-	-	-	-
Changes in investments accounted for using equity method		-	-	-	-	( 835 )	-	-	( 835 )	-
Capital reduction	6(16)	( 601,000 )	-	-	-	-	-	-	( 601,000 )	-
Adjustment in non-controlling interest	6(19)	-	-	-	-	-	-	-	-	( 17,632 )
Balance at December 31, 2024		$ 6,800,000	$ 2,261,663	$ 2,122,911	$ 227,313	$ 2,420,409	$ 17,809	($ 4,647 )	$ 13,845,458	$ 163,789
Year ended December 31, 2025
Balance at January 1, 2025		$ 6,800,000	$ 2,261,663	$ 2,122,911	$ 227,313	$ 2,420,409	$ 17,809	($ 4,647 )	$ 13,845,458	$ 163,789
Profit for the year ended December 31, 2025		-	-	-	-	791,597	-	-	791,597	19,102
Other comprehensive income (loss) for the year ended December 31, 2025	6(19)	-	-	-	-	336	( 230,970 )	( 24,350 )	( 254,984 )	( 3,720 )
Total comprehensive income (loss)		-	-	-	-	791,933	( 230,970 )	( 24,350 )	536,613	15,382
Appropriations of 2024 net income	6(18)
Cash dividends		-	-	-	-	( 305,000 )	-	-	( 305,000 )	-
Legal reserve		-	-	129,247	-	( 129,247 )	-	-	-	-
Reversal of special reserve		-	-	-	( 227,313 )	227,313	-	-	-	-
Capital reduction	6(16)	( 700,000 )	-	-	-	-	-	-	( 700,000 )	-
Adjustment in non-controlling interest	6(19)	-	-	-	-	-	-	-	-	( 15,763 )
Year ended December 31, 2025		$ 6,100,000	$ 2,261,663	$ 2,252,158	$ -	$ 3,005,408	($ 213,161 )	($ 28,997 )	$ 13,377,071	$ 163,408

The accompanying notes are an integral part of these consolidated financial statements.

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

	Year ended December 31
	Notes	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax		$ 1,028,405	$ 1,532,768
Adjustments
Adjustments to reconcile profit (loss)
Depreciation (including investment property)	6(25)	434,948	415,157
Depreciation on right-of-use assets	6(25)	41,956	39,183
Amortisation	6(25)	22,508	21,412
Net gain on financial assets at fair value through profit or loss	6(2)(23)	( 126,432 )	( 743,589 )
Net gain on financial assets at fair value through other comprehensive income	6(3)	-	( 5,960 )
Share of profit of associates and joint ventures	6(7)	( 63,172 )	( 29,157 )
Gain on disposal of property, plant and equipment	6(23)	( 3,920 )	2,836
Gain on liquidation of equity method investments	6(23)	-	( 437 )
Losses on impairment	6(7)(23)	-	6,919
Interest expense	6(24)	13,153	15,375
Interest income	6(21)	( 183,604 )	( 229,237 )
Dividend income	6(22)	( 27,572 )	( 25,602 )
Gain from lease modification	6(23)	( 25 )	( 34 )
Changes in operating assets and liabilities
Changes in operating assets
Financial assets mandatorily measured at fair value through profit or loss		( 17,892 )	1,691,135
Current financial assets at fair value through other comprehensive income		-	129,100
Accounts receivable		( 483,054 )	( 1,001,067 )
Accounts receivable-related parties		17,174	27,932
Other receivables		23,504	17,265
Inventories		( 1,338,816 )	( 395,639 )
Prepayments		48,290	( 94,338 )
Changes in operating liabilities
Contract liabilities		53,339	( 54,007 )
Accounts payable		983,840	( 93,852 )
Accounts payable-related parties		( 2 )	( 104 )
Other payables		( 111,098 )	210,541
Receipts in advance		114,146	( 49,863 )
Other current liabilities		( 102,093 )	41,072
Provisions for liabilities		53,010	5,618
Accrued pension liabilities		( 763 )	( 465 )
Cash inflow generated from operations		375,830	1,432,962
Interest received		204,297	228,504
Dividends received		27,572	25,602
Income tax received		232	38,059
Interest paid		( 13,460 )	( 14,039 )
Income tax paid		( 346,823 )	( 280,504 )
Net cash flows from operating activities		247,648	1,430,584

(Continued)

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

		Year ended December 31
	Notes	2025	2024
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at amortised cost		($ 930,256)	($ 1,926,532)
Principal repayment of financial assets at maturity		1,698,330	3,171,898
(Increase) decrease in restricted assets		( 943 )	6,981
Proceeds from capital reduction of investments accounted	6(7)	5,012	5,832
Acquisition of investments accounted for using equity	6(7)	-	( 24,700 )
Liquidation of investment accounted for using equity method	6(7)	-	2,301
Acquisition of property, plant and equipment (including investment property)	6(28)	( 501,371 )	( 492,867 )
Proceeds from disposal of property, plant and equipment		4,188	1,487
Acquisition of right-of-use land		( 1,362 )	( 238,718 )
Acquisition of intangible assets	6(28)	( 23,539 )	( 18,239 )
Increase in non-current assets		( 13,267 )	( 1,267 )
Increase in refundable deposits		( 2,094 )	( 4,234 )
Net cash flows from investing activities		234,698	481,942
CASH FLOWS FROM FINANCING ACTIVITIES
(Decrease) increase in short-term borrowings	6(29)	( 50,000 )	225,000
Payment of long-term borrowings	6(29)	( 813 )	( 3,123 )
Payments of lease liabilities	6(29)	( 20,911 )	( 20,015 )
Cash dividends paid	6(18)	( 305,000 )	( 401,200 )
Decrease in non-controlling interests	6(19)	( 15,763 )	( 17,632 )
Capital reduction	6(16)	( 700,000 )	( 601,000 )
Net cash flows used in financing activities		( 1,092,487 )	( 817,970 )
Cumulative translation adjustments		( 91,357 )	( 90,346 )
Net (decrease) increase in cash and cash equivalents		( 701,498 )	1,004,210
Cash and cash equivalents at beginning of year	6(1)	4,793,612	3,789,402
Cash and cash equivalents at end of year	6(1)	$ 4,092,114	$ 4,793,612

The accompanying notes are an integral part of these consolidated financial statements.

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

HISTORY AND ORGANISATION

Amtran Technology Co., Ltd. (the “Company”) was incorporated in August 1994 and started its operations in January 1995. The Company and its subsidiaries (collectively referred herein as the “Group”) are primarily engaged in the design, manufacture and sales of monitors, digital TV, computers and computer peripherals. As of December 31, 2025, the Group had 5,653 employees.

THE DATE OF AUTHORISATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION

These consolidated financial statements were authorised for issuance by the Board of Directors on March 4, 2026.

APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments endorsed by the FSC and became effective from 2025 are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IAS 21, ‘Lack of exchangeability’	January 1, 2025

The above standards and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment.

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(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but not yet adopted by the Group

New standards, interpretations and amendments endorsed by the FSC and will become effective from 2026 are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Specific provisions of Amendments to IFRS 9 and IFRS 7, ‘Amendments to the classification and measurement of financial instruments’	January 1, 2026
Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing nature-dependent electricity’	January 1, 2026
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 – comparative information’	January 1, 2023
Annual Improvements to IFRS Accounting Standards—Volume 11	January 1, 2026

Except for the following, the above standards and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment:

Specific provisions of Amendments to IFRS 9 and IFRS 7, ‘Amendments to the classification and measurement of financial instruments’.

A. Clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion, covering contractual terms that can change cash flows based on contingent events (for example, interest rates linked to ESG targets), non-recourse features and contractually-linked instruments.

B. Add new disclosures for certain instruments with contractual terms that can change cash flows (such as some instruments with features linked to the achievement of environment, social and governance (ESG) targets), including a qualitative description of the nature of the contingent event, quantitative information about the possible changes to contractual cash flows that could result from those contractual terms and the gross carrying amount of financial assets and amortised cost of financial liabilities subject to these contractual terms.

C. Clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception relating to the derecognition of a financial liability (or part of a financial liability) settled through an electronic cash transfer system. Applying the exception, an entity is permitted to derecognise a financial liability at an earlier date if, and only if, the entity has initiated a payment instruction and specific conditions are met.

The conditions for the exception are that the entity making the payment does not have:

(a) the practical ability to withdraw, stop or cancel the payment instruction;

(b) the practical ability to access the cash used for settlement; and

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D. Update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI). The entity shall disclose the fair value of each class of investment and is no longer required to disclose the fair value of each investment. In addition, the amendments require the entity to disclose the fair value gain or loss presented in other comprehensive income during the period, showing separately the fair value gain or loss related to investments derecognised during the reporting period and the fair value gain or loss related to investments held at the end of the reporting period; and any transfers of the cumulative gain or loss within equity during the reporting period related to the investments derecognised during that reporting period.

(3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRS Accounting Standards as endorsed by the FSC are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’	To be determined by International Accounting Standards Board
IFRS 18, ‘Presentation and disclosure in financial statements’	January 1, 2027 (Note)
IFRS 19, ‘Subsidiaries without public accountability: disclosures’	January 1, 2027
Amendments to IAS 21, ‘Translation to a Hyperinflationary Presentation Currency’	January 1, 2027

Note : The FSC has announced in a press release on September 25, 2025 that public companies will apply IFRS 18 starting from the fiscal year 2028. Additionally, entities can choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses IFRS 18.

Except for the following, the above standards and interpretations have no significant impact to the Group's financial condition and financial performance based on the Group's assessment:

IFRS 18, ‘Presentation and disclosure in financial statements’

IFRS 18, ‘Presentation and disclosure in financial statements’ replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

SUMMARY OF MATERIAL ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(1) Compliance statement

The consolidated financial statements of the Group have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, International Financial Reporting Standards, International Accounting Standards, IFRIC® Interpretations, and SIC® Interpretations that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”).

(2) Basis of preparation

A. Except for the following items, the consolidated financial statements have been prepared under the historical cost convention:

(a) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

(b) Financial assets measured at fair value through other comprehensive income.

(c) Defined benefit liabilities recognised based on the net amount of pension fund assets less present value of defined benefit obligation.

B. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

(3) Basis of consolidation

A. Basis for preparation of consolidated financial statements:

(a) All subsidiaries are included in the Group’s consolidated financial statements. Subsidiaries are all entities (including structured entities) controlled by the Group. The Group controls an entity when the Group is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Consolidation of subsidiaries begins from the date the Group obtains control of the subsidiaries and ceases when the Group loses control of the subsidiaries.

(b) Inter-company transactions, balances and unrealised gains or losses on transactions between companies within the Group are eliminated. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Group.

(c) Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the non-controlling interests. Total comprehensive income is attributed to the owners of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

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(d) When the Group loses control of a subsidiary, the Group remeasures any investment retained in the former subsidiary at its fair value. That fair value is regarded as the fair value on initial recognition of a financial asset or the cost on initial recognition of the associate or joint venture. Any difference between fair value and carrying amount is recognised in profit or loss. All amounts previously recognised in other comprehensive income in relation to the subsidiary are reclassified to profit or loss on the same basis as would be required if the related assets or liabilities were disposed of. That is, when the Group loses control of a subsidiary, all gains or losses previously recognised in other comprehensive income in relation to the subsidiary should be reclassified from equity to profit or loss, if such gains or losses would be reclassified to profit or loss when the related assets or liabilities are disposed of.

B. Subsidiaries included in the consolidated financial statements:

Name of Investor	Name of Subsidiary	Main Business Activities	Ownership (%)		Description
			December 31, 2025	December 31, 2024
Amtran Technology Co., Ltd.	Asev Display Labs	Sales of computer software, hardware, and provision of maintenance services	100.00	100.00
"	REI MAU ENTERPRISE CO., LTD.	General investments	100.00	100.00
"	RICK TECHNOLOGY INC.	General trading	82.00	82.00
"	Amtran Logistics, Inc.	Sales of LCD TV and aftersale service	100.00	100.00
"	Spyglass Tesla, LLC.	General investments	43.75	43.75	Note
"	Abound Profits Limited	General investments	100.00	100.00
"	Amtran Vietnam Trading Company Limited (VNTC)	General trading	100.00	100.00
"	Amtran Video Corporation	Sales of LCD TV and aftersale service	100.00	100.00
"	Suzhou Raken Technology Ltd. (Raken)	Design, manufacture of LCD monitors, provision of maintenance services	37.95	37.95
"	Amtran Vietnam Technology Company Limited (AVTC)	Manufacturing and sales of LCDs	100.00	100.00

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Name of Investor	Name of Subsidiary	Main Business Activities	Ownership (%)
			December 31, 2025	December 31, 2024
Amtran Technology Co., Ltd.	Asev Display Labs	Sales of computer software, hardware, and provision of maintenance services	100.00	100.00
ABOUND PROFITS LIMITED	Amtran Electronic Co., Ltd.	Design, manufacture of LCD monitors, provision of maintenance services	100.00	100.00
REI MAU	REI MAU Capital Inc.	Venture capital	100.00	100.00
RICK TECHNOLOGY INC.	Rick Service Inc.	Logistics services	100.00	100.00
Amtran Electronic Co., Ltd.	Suzhou Raken Technology Ltd. (Raken)	Design, manufacture of LCD monitors, provision of maintenance services	62.05	62.05

Note : The Company has control over SPYGLASS and H&P Venture Capital Investment Co., Ltd. and were included in the consolidated financial statements.

C. Subsidiaries not included in the consolidated financial statements: None.
D. Adjustments for subsidiaries with different balance sheet dates: None.
E. Significant restrictions: None.
F. Subsidiaries that have non-controlling interests that are material to the Group:

As of December 31, 2025 and 2024, the non-controlling interest amounted to $163,408 and $163,789, respectively. The information on non-controlling interest and respective subsidiaries is as follows:

Name of subsidiary	Principal place of business	Ownership (%)		Ownership (%)
		December 31, 2025		December 31, 2024
		Amount	Ownership (%)	Amount	Ownership (%)
SPYGLASS	USA	$ 107,700	56.25	$ 110,622	56.25

Summarised financial information of the subsidiaries:

Balance sheets

	SPYGLASS
	December 31, 2025	December 31, 2024
Current assets	$ 38,526	$ 38,371
Non-current assets	154,874	162,914
Current liabilities	-	( 2,606)
Non-current liabilities	( 1,933)	( 2,017)
Total net assets	$ 191,467	$ 196,662

Statements of comprehensive income

	SPYGLASS
	Years ended December 31,
	2025	2024
Revenue	$ -	$ -
Profit before income tax	29,442	18,152
Tax expense	-	-
Profit for the period (Total comprehensive income for the period)	$ 29,442	$ 18,152
Comprehensive income attributable to non-controlling interest	$ 16,561	$ 10,211
Dividends paid to non-controlling interest	$ 15,763	$ 17,632

Statements of cash flows

	SPYGLASS
	Years ended December 31,
	2025	2024
Net cash provided by operating activities	$ 21,214	$ 24,622
Net cash used in investing activities	-	-
Net cash used in financing activities	( 28,023)	( 31,345)
Effect of exchange rates on cash and cash equivalents	6,975	1,930
Decrease in cash and cash equivalents	166	( 4,793)
Cash and cash equivalents, beginning of period	38,158	42,951
Cash and cash equivalents, end of period	$ 38,324	$ 38,158

(4) Foreign currency translation

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in New Taiwan Dollars, which is the Company’s functional and the Group’s presentation currency.

A. Foreign currency transactions and balances

(a) Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions are recognised in profit or loss in the period in which they arise.

(b) Monetary assets and liabilities denominated in foreign currencies at the period end are re-translated at the exchange rates prevailing at the balance sheet date. Exchange differences arising upon re-translation at the balance sheet date are recognised in profit or loss.

(c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in other comprehensive income. However, non-monetary assets and liabilities denominated in foreign currencies that are not measured at fair value are translated using the historical exchange rates at the dates of the initial transactions.

(d) All foreign exchange gains and losses are presented in the statement of comprehensive income within other gains or losses.

B. Translation of foreign operations

(a) The operating results and financial position of all the group entities, associates and joint arrangements that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

i. Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;

ii. Income and expenses for each statement of comprehensive income are translated at average exchange rates of that period; and

iii. All resulting exchange differences are recognised in other comprehensive income.

(b) When the foreign operation partially disposed of or sold is an associate, exchange differences that were recorded in other comprehensive income are proportionately reclassified to profit or loss as part of the gain or loss on sale.

(c) When the foreign operation partially disposed of or sold is a subsidiary, cumulative exchange differences that were recorded in other comprehensive income are proportionately transferred to the non-controlling interest in this foreign operation.

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(5) Classification of current and non-current items

A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

(a) Assets arising from operating activities that are expected to be realised, or are intended to be sold or consumed within the normal operating cycle;

(b) Assets held mainly for trading purposes;

(d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to pay off liabilities more than twelve months after the balance sheet date.

B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

(a) Liabilities that are expected to be paid off within the normal operating cycle;

(b) Liabilities arising mainly from trading activities;

(d) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

(6) Cash equivalents

Cash equivalents refer to short-term highly liquid investments that are readily convertible to known amount of cash and subject to an insignificant risk of changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitment in operations are classified as cash equivalents.

(7) Financial assets at fair value through profit or loss

A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortised cost or fair value through other comprehensive income.

B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognised and derecognised using trade date accounting.

C. At initial recognition, the Group measures the financial assets at fair value and recognises the transaction costs in profit or loss. The Group subsequently measures the financial assets at fair value, and recognises the gain or loss in profit or loss.

D. The Group recognises the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.

(8) Financial assets at fair value through other comprehensive income

A. Financial assets at fair value through other comprehensive income comprise equity securities which are not held for trading, and for which the Group has made an irrevocable election at initial recognition to recognise changes in fair value in other comprehensive income which meet all of the following criteria:

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(a) The objective of the Group’s business model is achieved both by collecting contractual cash flows and selling financial assets; and
(b) The assets’ contractual cash flows represent solely payments of principal and interest.

B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive income are recognised and derecognised using trade date accounting.

C. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. The Group subsequently measures the financial assets at fair value:
(a) The changes in fair value of equity investments that were recognised in other comprehensive income are reclassified to retained earnings and are not reclassified to profit or loss following the derecognition of the investment. Dividends are recognised as revenue when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.
(b) Except for the recognition of impairment loss, interest income and gain or loss on foreign exchange which are recognised in profit or loss, the changes in fair value of debt instruments are taken through other comprehensive income. When the financial asset is derecognised, the cumulative gain or loss previously recognised in other comprehensive income is reclassified from equity to profit or loss.

(9) Financial assets at amortised cost
A. Financial assets at amortised cost are those that meet all of the following criteria:
(a) The objective of the Group’s business model is achieved by collecting contractual cash flows.
(b) The assets’ contractual cash flows represent solely payments of principal and interest.
B. The Group’s time deposits which do not fall under cash equivalents are those with a short maturity period and are measured at initial investment amount as the effect of discounting is immaterial.

(10) Accounts and notes receivable
A. Accounts and notes receivable entitle the Group a legal right to receive consideration in exchange for transferred goods or rendered services.
B. The short-term accounts and notes receivable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(11) Impairment of financial assets
For financial assets at amortised cost including accounts receivable that have a significant financing component, at each reporting date, the Group recognises the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognises the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable or contract assets that do not contain a significant financing component, the Group recognises the impairment provision for lifetime ECLs.

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(12) Derecognition of financial assets

The Group derecognises a financial asset when one of the following conditions is met:

A. The contractual rights to receive cash flows from the financial asset expire.

B. The contractual rights to receive cash flows from the financial asset have been transferred and the Group has transferred substantially all risks and rewards of ownership of the financial asset.

C. The contractual rights to receive cash flows from the financial asset have been transferred and the Group has not retained control of the financial asset.

(13) Leasing arrangements (lessor) – operating leases

Lease income from an operating lease (net of any incentives given to the lessee) is recognised in profit or loss on a straight-line basis over the lease term.

(14) Inventories

Inventories are stated at the lower of cost and net realisable value. Cost is determined using the weighted-average method. The cost of finished goods and work in process comprises raw materials, direct labor, other direct costs and related production overheads (allocated based on normal operating capacity). It excludes borrowing costs. The item by item approach is used in applying the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated cost of completion and applicable variable selling expenses.

(15) Investments accounted for using equity method / associates

A. Associates are all entities over which the Group has significant influence but not control. In general, it is presumed that the investor has significant influence, if an investor holds, directly or indirectly 20 percent or more of the voting power of the investee. Investments in associates are accounted for using the equity method and are initially recognised at cost.

B. The Group’s share of its associates’ post-acquisition profits or losses is recognised in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate.

C. When changes in an associate’s equity do not arise from profit or loss or other comprehensive income of the associate and such changes do not affect the Group’s ownership percentage of the associate, the Group recognises the Group’s share of change in equity of the associate in ‘capital surplus’ in proportion to its ownership.

D. Unrealised gains on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in the associates. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Group.

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E. In the case that an associate issues new shares and the Group does not subscribe or acquire new shares proportionately, which results in a change in the Group’s ownership percentage of the associate but maintains significant influence on the associate, then ‘capital surplus’ and ‘investments accounted for under the equity method’ shall be adjusted for the increase or decrease of its share of equity interest. If the above condition causes a decrease in the Group’s ownership percentage of the associate, in addition to the above adjustment, the amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss proportionately on the same basis as would be required if the relevant assets or liabilities were disposed of.

F. When the Group disposes its investment in an associate and loses significant influence over this associate, the amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss, on the same basis as would be required if the relevant assets or liabilities were disposed of. If it retains significant influence over this associate, the amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss proportionately in accordance with the aforementioned approach.

(16) Property, plant and equipment

A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalised.

B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

C. Land is not depreciated. Other property, plant and equipment apply cost model and are depreciated using the straight-line method to allocate their cost over their estimated useful lives. Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately.

D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each balance sheet date. If expectations for the assets’ residual values and useful lives differ from previous estimates or the patterns of consumption of the assets’ future economic benefits embodied in the assets have changed significantly, any change is accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and Errors’, from the date of the change.

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The estimated useful lives of property, plant and equipment are as follows:

Buildings	3 ~ 50 years
Machinery and equipment	3 ~ 10 years
Transportation equipment	3 ~ 6 years
Furniture and fixtures	3 ~ 10 years
Other equipment	1 ~ 5 years

(17) Leasing arrangements (lessee) - right-of-use assets / lease liabilities

A. Leases are recognised as a right-of-use asset and a corresponding lease liability at the date at which the leased asset is available for use by the Group. For short-term leases or leases of low-value assets, lease payments are recognised as an expense on a straight-line basis over the lease term.

B. Lease liabilities include the net present value of the remaining lease payments at the commencement date, discounted using the incremental borrowing interest rate. Lease payments are comprised of the following:

(a) Fixed payments, less any lease incentives receivable;
(b) Variable lease payments that depend on an index or a rate;
(c) Amounts expected to be payable by the lessee under residual value guarantees;
(d) The exercise price of a purchase option, if the lessee is reasonably certain to exercise that option; and
(e) Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.

The Group subsequently measures the lease liability at amortised cost using the interest method and recognises interest expense over the lease term. The lease liability is remeasured and the amount of remeasurement is recognised as an adjustment to the right-of-use asset when there are changes in the lease term or lease payments and such changes do not arise from contract modifications.

C. At the commencement date, the right-of-use asset is stated at cost comprising the following:

(a) The amount of the initial measurement of lease liability;
(b) Any lease payments made at or before the commencement date;
(c) Any initial direct costs incurred by the lessee; and
(d) An estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease.

The right-of-use asset is measured subsequently using the cost model and is depreciated from the commencement date to the earlier of the end of the asset's useful life or the end of the lease term. When the lease liability is remeasured, the amount of remeasurement is recognised as an adjustment to the right-of-use asset.

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(18) Investment property

An investment property is stated initially at its cost and measured subsequently using the cost model. Except for land, investment property is depreciated on a straight-line basis over its estimated useful life of 15 ~ 50 years.

(19) Intangible assets

A. Trademarks and patents

Trademarks and patents are stated at historical cost and amortised on a straight-line basis over their estimated useful life of 10 years.

B. Computer software

Computer software is stated at cost and amortised on a straight-line basis over its estimated useful life of 1 to 3 and 8 years.

C. Other intangible assets, mainly industrial network project, are stated at cost and amortised on a straight-line basis over its estimated useful life of 3 years.

(20) Impairment of non-financial assets

The Group assesses at each balance sheet date the recoverable amounts of those assets where there is an indication that they are impaired. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. When the circumstances or reasons for recognising impairment loss for an asset in prior years no longer exist or diminish, the impairment loss is reversed. The increased carrying amount due to reversal should not be more than what the depreciated or amortised historical cost would have been if the impairment had not been recognised.

(21) Borrowings

Borrowings comprise long-term and short-term bank borrowings. Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method.

(22) Notes and accounts payable

A. Accounts payable are liabilities for purchases of raw materials, goods or services and notes payable are those resulting from operating and non-operating activities.

B. The short-term notes and accounts payable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(23) Derecognition of financial liabilities

Financial liability is derecognised when the obligation under the liability specified in the contract is discharged or cancelled or expires.

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(24) Offsetting financial instruments

Financial assets and liabilities are offset and reported in the net amount in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

(25) Non-hedging and embedded derivatives

A. Non-hedging derivatives are initially recognised at fair value on the date a derivative contract is entered into and recorded as financial assets or financial liabilities at fair value through profit or loss. They are subsequently remeasured at fair value and the gains or losses are recognised in profit or loss.

B. Under the financial assets, the hybrid contracts embedded with derivatives are initially recognised as financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets at amortised cost based on the contract terms.

C. Under the non-financial assets, whether the hybrid contracts embedded with derivatives are accounted for separately at initial recognition is based on whether the economic characteristics and risks of an embedded derivative are closely related in the host contract. When they are closely related, the entire hybrid instrument is accounted for by its nature in accordance with the applicable standard. When they are not closely related, the derivative is accounted for differently from the host contract as derivative while the host contract is accounted for by its nature in accordance with the applicable standard. Alternatively, the entire hybrid instrument is designated as financial liabilities at fair value through profit or loss upon initial recognition.

(26) Provisions

Provisions (warranties) are recognised when the Group has a present legal or constructive obligation as a result of past events, and it is probable that an outflow of economic resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation on the balance sheet date, which is discounted using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. When discounting is used, the increase in the provision due to passage of time is recognised as interest expense. Provisions are not recognised for future operating losses.

(27) Employee benefits

A. Short-term employee benefits

Short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period and should be recognised as expense in that period when the employees render service.

~33~

B. Pensions

(a) Defined contribution plans

For defined contribution plans, the contributions are recognised as pension expense when they are due on an accrual basis. Prepaid contributions are recognised as an asset to the extent of a cash refund or a reduction in the future payments.

(b) Defined benefit plans

i. Net obligation under a defined benefit plan is defined as the present value of an amount of pension benefits that employees will receive on retirement for their services with the Group in current period or prior periods. The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. Every year, the actuary calculated defined benefit obligation by using projected unit credit method, and the discount rate was based on the market yield rate of government bond on the balance sheet date.

ii. Remeasurements arising on defined benefit plans are recognised in other comprehensive income in the period in which they arise and are recorded as retained earnings.

iii. Past service costs are recognised immediately in profit or loss.

C. Termination benefits

Termination benefits are employee benefits provided in exchange for the termination of employment as a result from either the Group’s decision to terminate an employee’s employment before the normal retirement date, or an employee’s decision to accept an offer of redundancy benefits in exchange for the termination of employment. The Group recognises expense as it can no longer withdraw an offer of termination benefits or it recognises relating restructuring costs, whichever is earlier. Benefits that are expected to be due more than 12 months after balance sheet date shall be discounted to their present value.

D. Employees’ compensation and directors’ and supervisors’ remuneration

Employees’ compensation and directors’ and supervisors’ remuneration are recognised as expense and liability, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates.

(28) Income tax

A. The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or items recognised directly in equity, in which cases the tax is recognised in other comprehensive income or equity.

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B. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated balance sheet. However, the deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.

D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. At each balance sheet date, unrecognised and recognised deferred tax assets are reassessed.

E. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. Deferred tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realise the asset and settle the liability simultaneously.

F. A deferred tax asset shall be recognised for the carryforward of unused tax credits resulting from acquisitions of equipment or technology, research and development expenditures and equity investments to the extent that it is possible that future taxable profit will be available against which the unused tax credits can be utilised.

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(29) Share capital

Where the Company repurchases the Company's equity share capital that has been issued, the consideration paid, including any directly attributable incremental costs (net of income taxes) is deducted from equity attributable to the Company's equity holders. Where such shares are subsequently reissued, the difference between their carrying amount and any consideration received, net of any directly attributable incremental transaction costs and the related income tax effect, is included in equity attributable to the Company's equity holders.

(30) Dividends

Dividends are recorded in the Company's financial statements in the period in which they are approved by the Company's shareholders. Cash dividends are recorded as liabilities.

(31) Revenue recognition

Sales of goods:

A. The Group manufactures and sells monitor, digital television, computer, peripheral equipment of computer and other related products. Sales are recognised when control of the products has transferred, being when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the wholesaler's acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, or the Group has objective evidence that all criteria for acceptance have been satisfied.

B. Sales revenue was based on the contract price net of estimated business tax, sales return, volume discounts and allowance. The furniture is often sold with volume discounts based on aggregate sales over a period. Accumulated experience is used to estimate and provide for the volume discounts and sales discounts and allowances, using the expected value method, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. The estimation is subject to an assessment at each reporting date. A refund liability is recognised for expected volume discounts and sales discounts and allowances payable to customers in relation to sales made until the end of the reporting period.

C. A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

(32) Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The Group's chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Board of Directors that makes strategic decisions.

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5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

The preparation of these consolidated financial statements requires management to make critical judgements in applying the Group’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year; and the related information is addressed below:

(1) Critical judgements in applying the Group’s accounting policies

There have been no critical judgements in applying the Group’s accounting policies that have a significant impact on the amount recognized.

(2) Critical accounting estimates and assumptions

A. Revenue recognition

The Group estimates sales discounts and returns provisions based on historical results and other known factors. Provisions for such liabilities are recognised as a deduction item to sales revenues when the sales are recognised. The Group reassesses the reasonableness of estimates of discounts and returns periodically.

As of December 31, 2025, the provision for sales discounts and returns recognised by the Group was $158,887, which was recognised in other current liabilities.

The Group estimates provision for warranty for maintenance of products based on historical results and other known factors. Provisions for such liabilities are recorded as an addition item to sales costs when the sales are recognised. The Group reassesses the reasonableness of estimates of provision for warranty periodically.

Information on the carrying amount of provision for warranty amounting to $156,814 as of December 31, 2025 is provided in Note 6(15).

B. Evaluation of inventories

As inventories are stated at the lower of cost and net realisable value, the Group must determine the net realisable value of inventories on balance sheet date using judgements and estimates. Due to the rapid technology innovation, the Group evaluates the amounts of normal inventory consumption, obsolete inventories or inventories without market selling value on balance sheet date, and writes down the cost of inventories to the net realisable value. Such an evaluation of inventories is principally based on the demand for the products within the specified period in the future. Therefore, there might be material changes to the evaluation.

As of December 31, 2025, information on the carrying amount of inventories as of December 31, 2025 is provided in Note 6(5).

C. Financial assets—fair value measurement of unlisted stocks without active market

The fair value of unlisted stocks (including beneficiary certificate) held by the Group that are not traded in an active market is determined considering those companies' recent fund raising activities and technical development status, fair value assessment of other companies of the same type, market conditions and other economic indicators existing at balance sheet date. Any changes in these judgements and estimates will impact the fair value measurement of these unlisted stocks. Refer to Note 12(3) for the financial instruments fair value information.

As of December 31, 2025, the carrying amount of unlisted stocks without active market was $327,193.

DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

	December 31, 2025	December 31, 2024
Cash on hand	$ 1,423	$ 2,477
Checking account and demand deposits	2,872,936	3,127,607
Time deposits	1,217,755	1,663,528
	$ 4,092,114	$ 4,793,612

A. The Group associates with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.
B. The interest rate range as of December 31, 2025 and 2024 were 0.65%~4.75% and 0.90%~4.80%, respectively.
C. As of December 31, 2025 and 2024, the bank's acceptance bill amounted to $1,681 and $738 (listed as "current assets"), respectively.
D. The time deposits whose maturities exceed 3 months amounted to $1,433,740 and $2,227,272 as of December 31, 2025 and 2024, respectively and were listed as “Current financial assets at amortised cost”. The interest rate range as of December 31, 2025 and 2024 were 1.68%~5.00% and 1.29%~5.51%, respectively. Interest income recognised in relation to Current financial assets at amortised cost” amounted $80,958 and $143,524, respectively.

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(2) Financial assets at fair value through other comprehensive income

Asset Items	December 31, 2025	December 31, 2024
Current items:
Financial assets mandatorily measured at fair value through profit or loss
Equity securities	$ 753,114	$ 673,052
Debt securities	20,000	20,000
Beneficiary certificates	136,913	170,331
Derivative instruments	387,865	304,945
Hybrid instruments	211,759	185,800
	$ 1,509,651	$ 1,354,128

A. Amounts recognised in profit or loss in relation to financial assets at fair value through profit or loss are listed below:

	Years ended December 31,
	2025	2024
Financial assets mandatorily measured at fair value through profit or loss
Equity securities	$ 85,303	$ 448,263
Beneficiary certificates	( 33,418)	9,093
Derivative instruments	61,218	251,793
Hybrid instruments	13,329	34,440
	$ 126,432	$ 743,589

B. Financial assets designated as at fair value through profit or loss upon initial recognition are hybrid instruments.

C. For the year ended December 31, 2024, the Group disposed shares of VIZIO HOLDING CORP. for a consideration of $1,669,712, resulting to a gain on valuation of financial assets at fair value through profit or loss amounting to $485,910.

As of December 31, 2024, all the shares of VIZIO HOLDING CORP. held by the Group had been disposed.

D. The Group entered into contracts relating to derivative financial assets which were not accounted for under hedge accounting. The information is listed below:

	December 31, 2025			December 31, 2024
Derivative financial instruments	Contract Amount (Notional Principal)		Contract Period	Contract Amount (Notional Principal)		Contract Period
Current items:
Exchange rate swap contracts	USD (Sell)	230 million	2025.12.08~2026.01.30	USD (Sell)	215 million	2024.12.05~2025.01.24
Exchange rate swap contracts	USD (Buy)	40 million	2025.12.09~2026.06.30	USD (Buy)	50 million	2024.07.02~2025.06.27
Forward foreign exchange	USD (Sell)	15 million	2025.09.10~2026.01.20	USD (Sell)	45 million	2024.09.27~2025.03.13
Forward foreign exchange	USD (Buy)	245 million	2025.07.09~2026.05.29	USD (Buy)	315 million	2024.07.02~2025.06.16

(a) Exchange rate swap contracts

The Group entered into exchange rate swap contracts with financial institutions to swap floating interest rate for fixed interest rate, to earn the exchange rate spread, and to hedge cash flow risk of the floating-rate liability positions. However, these exchange rate swap contracts are not accounted for under hedge accounting.

(b) Forward foreign exchange contracts

The Group entered into forward foreign exchange contracts to sell NTD and buy USD to earn the exchange rate spread, and to hedge exchange rate risk of import and export proceeds. However, these forward foreign exchange contracts are not accounted for under hedge accounting.

E. As of December 31, 2025 and 2024, the Group has no financial assets at fair value through profit or loss pledged to others.

F. Information relating to credit risk of financial assets at fair value through profit or loss is provided in Note 12(2).

(3) Financial assets at fair value through other comprehensive income

Items	December 31, 2025	December 31, 2024
Current items:
Equity securities
Unlisted stocks	$ 13,483	$ 13,438
Valuation adjustment	(11,580)	(11,542)
	1,903	1,896
Debt securities
Ordinary corporate bonds	63,407	63,407
Valuation adjustment	129	3,134
	63,536	66,541
Total	$ 65,439	$ 68,437

A. The Group has elected to classify debt investments that are considered to be strategic investments as financial assets at fair value through other comprehensive income. The fair value of such investments amounted to $63,536 and $66,541 at December 31, 2025 and 2024, respectively.
B. As of December 31, 2025 and 2024, the Group has no financial assets at fair value through other comprehensive income pledged to others as collateral.
C. Amounts recognised in profit or loss and other comprehensive income in relation to the financial assets at fair value through other comprehensive income are listed below:

	2025	2024
Debt instruments at fair value through other comprehensive income
Fair value change recognised in other comprehensive income	($ 3,005)	$ 7,077
Cumulative other comprehensive income reclassified to profit or loss
Reclassified due to derecognition	$ -	$ 5,960

D. The Group disposed of a debt instrument measured at fair value through other comprehensive income in 2024, with the disposal price amounting to $129,100. Due to derecognition, the cumulative other comprehensive income of $5,960 was reclassified to profit or loss.
E. Information relating to credit risk of financial assets at fair value through other comprehensive income is provided in Note 12(2).

(4) Accounts receivable

	December 31, 2025	December 31, 2024
Accounts receivable	$ 4,928,089	$ 4,445,070
Less: Loss allowance	( 9,999)	( 9,996)
	$ 4,918,090	$ 4,435,074

A. The Group did not hold any collateral for accounts receivable.
B. As of December 31, 2025 and 2024, accounts receivable were all from contracts with customers. As of January 1, 2024, the balance of receivables from contracts with customers amounted to $3,444,003.
C. Information on accounts receivable relating to credit risk is provided in Note 12(2).

(5) Inventories

	December 31, 2025
	Cost	Allowance for valuation loss	Book value
Raw materials	$ 2,663,720	($ 44,256)	$ 2,619,464
Work in process	327,815	( 8,532)	319,283
Finished goods	1,185,942	( 64,128)	1,121,814
	$ 4,177,477	($ 116,916)	$ 4,060,561
	December 31, 2024
	Cost	Allowance for valuation loss	Book value
Raw materials	$ 1,875,235	($ 156,361)	$ 1,718,874
Work in process	156,054	( 6,505)	149,549
Finished goods	888,923	( 35,601)	853,322
	$ 2,920,212	($ 198,467)	$ 2,721,745

Expenses and losses incurred on inventories for the year:

	Years ended December 31,
	2025	2024
Cost of inventories sold	$ 22,289,043	$ 20,840,941
(Gain from price recovery)
loss on inventory price decline	( 81,551)	73,612
Loss on scrapping inventory	37,879	33,707
Other operating costs (Note 1)	20,261	204,740
	$ 22,265,632	$ 21,153,000

Note 1: Mainly represents adjustment of the difference between maintenance costs, royalty expenses and overhead.
Note 2: The Group reversed a previous inventory write-down because the related inventory items were scrapped or sold in 2025.

(6) Prepayments

	December 31, 2025	December 31, 2024
Prepayments to suppliers	$ 92,522	$ 114,718
Net input VAT	64,945	79,808
Prepaid income tax	878	4,667
Other prepaid expenses	36,292	43,734
	$ 194,637	$ 242,927

(7) Investments accounted for using equity method

	December 31, 2025	December 31, 2024
Associates:
Hua Jung Co., Ltd. (Hua Jung)	$ 447,516	$ 478,134
BMA Ventures Capital Investment Corporation	24,321	37,751
CDIB-Mac Limited Partnership	201,105	150,706
Heroic Faith Medical Science Co., Ltd. (Heroic Faith)	-	6,203
	$ 672,942	$ 672,794

A. Associates

(a) The basic information of the associate that is material to the Group is as follows:

Company name	Principal place of business	Shareholding ratio		Nature of relationship	Method of measurement
		December 31, 2025	December 31, 2024
Hua Jung	Taiwan	31.60%	31.60%	Investee accounted for using equity method	Equity method

(b) The summarised financial information of the associate that is material to the Group is as follows:

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Balance sheet

	Hua Jung
	December 31, 2025	December 31, 2024
Current assets	$ 1,955,157	$ 1,654,311
Non-current assets	725,187	813,552
Current liabilities	( 794,365)	( 462,270)
Non-current liabilities	( 38,116)	( 59,305)
Total net assets	$ 1,847,863	$ 1,946,288
Share in associate’s net assets	$ 582,301	$ 612,919
Accumulated impairment	( 134,785)	( 134,785)
Carrying amount of the associate	$ 447,516	$ 478,134

Statement of comprehensive income

	Hua Jung
	Years ended December 31,
	2025	2024
Revenue	$ 883,716	$ 866,507
Profit for the period from continuing operations	$ 69,207	$ 69,661
Other comprehensive income, net of tax	( 62,262)	103,401
Total comprehensive income	$ 6,945	$ 173,062

(c) The Group’s material associate, Hua Jung Corporation, has quoted market prices. As of December 31, 2025 and 2024, the fair values were $1,124,260 and $922,329, respectively.

(d) The information of the abovementioned associate disclosed by the Group is based on the audit reports of other auditors.

(e) The carrying amount of the Group’s interests in all individually immaterial associates and the Group’s share of the operating results are summarised below:

As of December 31, 2025 and 2024, the carrying amount of the Group’s individually immaterial associates amounted to $225,426 and $194,660, respectively.

	Years ended December 31,
	2025	2024
Profit (loss) for the year from continuing operations (Total comprehensive income(loss))	$ 41,979	$ 7,269

B. For the years ended December 31, 2025 and 2024, the share of profit (loss) of associates and joint ventures accounted for using the equity method was $63,172 and $29,157, respectively.

C. The Group’s investee accounted for using equity method, Hua Jung, distributed cash dividends amounting to $32,745 and $19,101 for the years ended December 31, 2025 and 2024, respectively.

D. In 2024, the Group increased its investment in CDIB-Mac Limited Partnership by $24,700. CDIB-Mac Limited Partnership is primarily engaged in general investment business.

E. In 2024, as the Group assessed that the recoverable amount was lower than the investment cost, impairment loss recognised on the Group’s investee accounted for using equity method, Heroic Faith, amounted to $6,919. Additionally, an investment prepayment for the company amounted to $6,468, and the capital increase process was completed on October 15, 2025. In December 2025, Heroic Faith increased its capital by issuing new shares. As the Group did not acquire shares proportionately, the Group lost its significant influence over the company. Therefore, the investments accounted for using equity method were transferred to financial assets at fair value through profit or loss.

F. The Company's investee accounted for using equity method, BMA Ventures Capital Investment Corporation, reduced its capital on March 28, 2025 and September 25, 2024, and the Company received $5,012 and $5,832 as return of capital, respectively.

G. The Group is the single largest shareholder of Hua Jung Co., Ltd. with a 31.60% equity interest. The Group has no ability to acquire over 50% of the seats in the Board of Directors of Hua Jung Co., Ltd. and does not assign personnel to sit on the company's key management, which indicates that the Group has no current ability to direct the relevant activities of Hua Jung Co., Ltd. In addition, as the Group and Hua Jung belong to different industries, there were no significant transactions between the two companies. Thus, the Group has no control, but only has significant influence, over the investee.

H. The Group liquidated H&P Venture Capital Investment Co., Ltd. on September 11, 2023, and received the liquidation proceeds of $2,301 on May 31, 2024. The gain on disposal was $437.

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(8) Property, plant and equipment

	Land	Buildings and structures	Machinery	Transportation equipment	Office equipment	Other equipment	Unfinished construction	Total
At January 1, 2025
Cost	$ 528,912	$ 3,192,571	$ 1,140,216	$ 121,487	$ 419,230	$ 1,319,787	$ 64,528	$ 6,786,731
Accumulated depreciation	-	( 1,983,189)	( 732,030)	( 107,339)	( 364,615)	( 1,212,939)	-	( 4,400,112)
	$ 528,912	$ 1,209,382	$ 408,186	$ 14,148	$ 54,615	$ 106,848	$ 64,528	$ 2,386,619
2025
Opening net book amount	$ 528,912	$ 1,209,382	$ 408,186	$ 14,148	$ 54,615	$ 106,848	$ 64,528	$ 2,386,619
Additions	-	365,018	161,226	14,049	10,346	214,502	72	765,213
Net disposal	-	-	( 9)	-	( 2)	( 257)	-	( 268)
Depreciation charge	-	( 149,376)	( 107,473)	( 7,824)	( 18,821)	( 140,445)	-	( 423,939)
Net exchange differences	( 8,065)	( 39,100)	( 23,767)	( 915)	( 1,926)	( 6,634)	-	( 80,407)
Closing net book amount	$ 520,847	$ 1,385,924	$ 438,163	$ 19,458	$ 44,212	$ 174,014	$ 64,600	$ 2,647,218
At December 31, 2025
Cost	$ 520,847	$ 3,509,457	$ 1,181,921	$ 129,832	$ 424,489	$ 1,504,580	$ 64,600	$ 7,335,726
Accumulated depreciation	-	( 2,123,533)	( 743,758)	( 110,374)	( 380,277)	( 1,330,566)	-	( 4,688,508)
	$ 520,847	$ 1,385,924	$ 438,163	$ 19,458	$ 44,212	$ 174,014	$ 64,600	$ 2,647,218

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	Land	Buildings and structures	Machinery	Transportation equipment	Office equipment	Other equipment	Unfinished construction	Total
At January 1, 2024
Cost	$ 516,578	$ 3,067,636	$ 1,012,990	$ 111,384	$ 399,794	$ 1,160,174	$ 28,557	$ 6,297,113
Accumulated depreciation	-	( 1,776,826)	( 660,595)	( 99,970)	( 348,602)	( 1,053,389)	-	( 3,939,382)
	$ 516,578	$ 1,290,810	$ 352,395	$ 11,414	$ 51,192	$ 106,785	$ 28,557	$ 2,357,731
2024
Opening net book amount	$ 516,578	$ 1,290,810	$ 352,395	$ 11,414	$ 51,192	$ 106,785	$ 28,557	$ 2,357,731
Additions	-	27,884	150,063	9,776	22,963	131,712	35,971	378,369
Net disposal	-	( 48)	( 3,584)	-	-	( 691)	-	( 4,323)
Depreciation charge	-	( 147,117)	( 97,417)	( 7,255)	( 20,289)	( 131,928)	-	( 404,006)
Net exchange differences	12,334	37,853	6,729	213	749	970	-	58,848
Closing net book amount	$ 528,912	$ 1,209,382	$ 408,186	$ 14,148	$ 54,615	$ 106,848	$ 64,528	$ 2,386,619
At December 31, 2024
Cost	$ 528,912	$ 3,192,571	$ 1,140,216	$ 121,487	$ 419,230	$ 1,319,787	$ 64,528	$ 6,786,731
Accumulated depreciation	-	( 1,983,189)	( 732,030)	( 107,339)	( 364,615)	( 1,212,939)	-	( 4,400,112)
	$ 528,912	$ 1,209,382	$ 408,186	$ 14,148	$ 54,615	$ 106,848	$ 64,528	$ 2,386,619

Note 1: The Group's buildings include building, parking space, air conditioner and decorations which are depreciated over 50 years, 35 years, and 15 years, respectively.
Note 2: Information about the property, plant and equipment that were pledged to others as collateral is provided in Note 8.
Note3: Information about the reclassification of the Group's property, plant and equipment is provided in Note 6(10)

(9) Leasing arrangements-lessee

A. The Group leases various assets including land use right, buildings and business vehicles. Rental contracts are typically made for periods of 1 to 50 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

B. Short-term leases with a lease term of 12 months or less comprise parking spaces and warehouses.

C. The carrying amount of right-of-use assets and the depreciation charge are as follows:

	December 31, 2025	December 31, 2024
	Carrying amount	Carrying amount
Land	$ 671,641	$ 727,738
Buildings	17,981	17,587
Transportation equipment
(business vehicles)	9,425	13,630
	$ 699,047	$ 758,955
	Years ended December 31,
	2025	2024
	Depreciation charge	Depreciation charge
Land	$ 20,743	$ 18,927
Buildings	14,497	14,908
Transportation equipment (business vehicles)	6,716	5,348
	$ 41,956	$ 39,183

D. For the years ended December 31, 2025 and 2024, the additions to right-of-use assets were $26,079 and $272,101, respectively.

E. The information on income and expense accounts relating to lease contracts is as follows:

	Years ended December 31,
	2025	2024
Items affecting profit or loss	Depreciation charge	Depreciation charge
Interest expense on lease liabilities	$ 1,207	$ 578
Expense on short-term lease contracts	7,024	8,774
Gain from lease modification	25	34

F. For the years ended December 31, 2025 and 2024, the Group's total cash outflow for leases were $29,142 and $29,367, respectively.

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(10) Investment property

	Land	Buildings and structures	Total
At January 1, 2025
Cost	$ 439,519	$ 382,557	$ 822,076
Accumulated depreciation	-	( 248,154)	( 248,154)
	$ 439,519	$ 134,403	$ 573,922
2025
Opening net book amount	$ 439,519	$ 134,403	$ 573,922
Additions		350	350
Depreciation charge	-	( 11,009)	( 11,009)
Closing net book amount	$ 439,519	$ 123,744	$ 563,263
At December 31, 2025
Cost	$ 439,519	$ 382,907	$ 822,426
Accumulated depreciation	-	( 259,163)	( 259,163)
	$ 439,519	$ 123,744	$ 563,263
	Land	Buildings and structures	Total
At January 1, 2024
Cost	$ 439,519	$ 382,557	$ 822,076
Accumulated depreciation	-	( 237,003)	( 237,003)
	$ 439,519	$ 145,554	$ 585,073
2024
Opening net book amount	$ 439,519	$ 145,554	$ 585,073
Depreciation charge	-	( 11,151)	( 11,151)
Closing net book amount	$ 439,519	$ 134,403	$ 573,922
At December 31, 2024
Cost	$ 439,519	$ 382,557	$ 822,076
Accumulated depreciation	-	( 248,154)	( 248,154)
	$ 439,519	$ 134,403	$ 573,922

A. Rental income from the lease of the investment property and direct operating expenses arising from the investment property are shown below:

	Years ended December 31,
	2025	2024
Rental revenue from investment property	$ 95,189	$ 95,099
Direct operating expenses arising from the investment property that generated rental income during the year	$ 15,906	$ 16,015

B. The fair values of the investment property held by the Group as at December 31, 2025 and 2024 were $2,171,732 and $2,004,702, respectively. The fair value on December 31, 2025 and 2024 was valued by independent appraisers. Valuation of land was made using the comparative approach while the valuation of building was made using the weighted average of cost approach and income approach and were classified as level 3.

(11) Intangible assets

	Software	Others	Total
At January 1, 2025
Cost	$183,444	$1,808	$185,252
Accumulated amortisation	(156,861)	(1,183)	(158,044)
	$26,583	$625	$27,208
2025
Opening net book amount	$26,583	$625	$27,208
Additions	29,374	454	29,828
Amortisation charge	(21,671)	(837)	(22,508)
Net exchange differences	(309)	(3)	(312)
Closing net book amount	$33,977	$239	$34,216
At December 31, 2025
Cost	$211,055	$2,248	$213,303
Accumulated amortisation	(177,078)	(2,009)	(179,087)
	$33,977	$239	$34,216
	Software	Others	Total
At January 1, 2024
Cost	$162,514	$575	$163,089
Accumulated amortisation	(132,754)	(523)	(133,277)
	$29,760	$52	$29,812
2024
Opening net book amount	$29,760	$52	$29,812
Additions	16,760	1,479	18,239
Amortisation charge	(20,503)	(909)	(21,412)
Net exchange differences	566	3	569
Closing net book amount	$26,583	$625	$27,208
At December 31, 2024
Cost	$183,444	$1,808	$185,252
Accumulated amortisation	(156,861)	(1,183)	(158,044)
	$26,583	$625	$27,208

Details of amortisation on intangible assets are as follows:

	Years ended December 31,
	2025	2024
Selling expenses	$ 20	$ 21
Administrative expenses	15,320	14,980
Research and development expenses	7,168	6,411
	$ 22,508	$ 21,412
(12) Short-term borrowings
Type of Borrowings	December 31, 2025	Interest rate range
Bank borrowings
Unsecured borrowings	$ 600,000	1.80%~1.86%
Type of Borrowings	December 31, 2024	Interest rate range
Bank borrowings
Unsecured borrowings	$ 650,000	1.83%~1.86%

Interest expense recognised in profit or loss amounted to $11,089 and $14,323 for the years ended December 31, 2025 and 2024, respectively.

(13) Other accounts payable

	December 31, 2025	December 31, 2024
Accrued payroll and bonus	$ 453,845	$ 395,277
Accrued royalty payable	195,847	314,248
Consumption goods expense payable	116,767	63,095
Payable for equipment	86,144	36,712
Accrued taxes	24,839	11,161
Accrued labor costs	15,271	32,293
Compensation payable	15,154	56,318
Others	261,142	321,878
	$ 1,169,009	$ 1,230,982

(14) Pensions

A. (a) The Company has a defined benefit pension plan in accordance with the Labor Standards Act, covering all regular employees' service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Law. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 1 month prior to retirement. The Company contributes monthly an amount equal to 2% of the employees' monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the Company would assess the balance in the aforementioned labor pension reserve account by the end of December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method to the employees expected to qualify for retirement in the following year, the Company will make contributions for the deficit by next March.

(b) The amounts recognised in the balance sheet are as follows:

	December 31, 2025	December 31, 2024
Present value of defined benefit obligations	$ 75,542	$ 78,223
Fair value of plan assets	( 23,115)	( 24,613)
Net defined benefit liability
(Shown as other current liabilities)	$ 52,427	$ 53,610

	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit liability
Year ended December 31, 2025
Balance at January 1	$ 78,223	($ 24,613)	$ 53,610
Past service cost		-	-
Current service cost	-	-	-
Interest expense (income)	1,223	( 375)	848
	79,446	( 24,988)	54,458
Remeasurements:
Return on plan assets	-	( 1,665)	( 1,665)
(excluding amounts included in interest income or expense)
Change in demographic assumptions	-	-	-
Change in financial assumptions	1,125	-	1,125
Experience adjustments	120	-	120
	1,245	( 1,665)	( 420)
Pension fund contribution	-	( 1,611)	( 1,611)
Pay pension	( 5,149)	5,149	-
Balance at December 31	$ 75,542	($ 23,115)	$ 52,427

~53~

	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit liability
Year ended December 31, 2024
Balance at January 1	$ 80,865	($ 21,620)	$ 59,245
Current service cost	543	-	543
Interest expense (income)	950	( 246)	704
	82,358	( 21,866)	60,492
Remeasurements:
Return on plan assets	-	( 2,036)	( 2,036)
(excluding amounts included in interest income or expense)
Change in financial assumptions	( 2,113)	-	( 2,113)
Experience adjustments	( 1,022)	-	( 1,022)
	( 3,135)	( 2,036)	( 5,171)
Pension fund contribution	-	( 1,711)	( 1,711)
Pay pension	( 1,000)	1,000	-
Balance at December 31	$ 78,223	($ 24,613)	$ 53,610

(d) The Bank of Taiwan was commissioned to manage the Fund of the Company's defined benefit pension plan in accordance with the Fund's annual investment and utilisation plan and the "Regulations for Revenues, Expenditures, Safeguard and Utilisation of the Labor Retirement Fund" (Article 6: The scope of utilisation for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, over-the-counter, or private placement equity securities, investment in domestic or foreign real estate securitization products, etc.). With regard to the utilisation of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after approval by the Regulator. The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan asset fair value in accordance with IAS 19 paragraph 142. The composition of fair value of plan assets as of December 31, 2025 and 2024 is given in the Annual Labor Retirement Fund Utilisation Report announced by the government.

(e) The principal actuarial assumptions used:

	2025	2024
Discount rate	1.35%	1.60%
Future salary increases	2.00%	2.00%

Assumptions regarding future mortality experience are set based on the 6th Taiwan Standard Ordinary Experience Mortality Table for the years ended December 31, 2025 and 2024.

Because the main actuarial assumption changed, the present value of defined benefit obligation is affected. The analysis was as follows:

	Discount rate		Future salary increases
	Increase 0.25%	Decrease 0.25%	Increase 0.25%	Decrease 0.25%
December 31, 2025
Effect on present value of defined benefit obligation	($ 1,125)	$ 1,155	$ 1,145	($ 1,121)
December 31, 2024
Effect on present value of defined benefit obligation	($ 1,271)	$ 1,307	$ 1,299	($ 1,270)

The sensitivity analysis above was based on one assumption which changed while the other conditions remain unchanged. In practice, more than one assumption may change all at once. The method of analysing sensitivity and the method of calculating net pension liability in the balance sheet are the same.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous period.

(f) Expected contributions to the defined benefit pension plan of the Company for the year ending December 31, 2026 are $956.

(g) As of December 31, 2025, the weighted average duration of that retirement plan is 6 years.

B. (a) Effective July 1, 2005, the Company has established a defined contribution pension plan (the "New Plan") under the Labor Pension Act (the "Act"), covering all regular employees with R.O.C. nationality. Under the New Plan, the Company contributes monthly an amount based on not less than 6% of the employees' monthly salaries and wages to the employees' individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment.

(b) Zwei-Mau does not need to accrue pension costs as it does not have any employee.

(d) ASEV, ALI and AVC appropriate certain percentage of employees' pension to their designated accounts with financial institutions in accordance with employees' pension plan.

(e) Raken and Amtran Electronic appropriate certain percentage of local employees' salaries as pension fund in compliance with the regulations on elderly insurance system of People's Republic of China (PRC.). The appropriation percentage is 16%. The pension fund is managed and organised by the government. The Group shall appropriate monthly and has no further obligation.

(f) AVTC and VNTC appropriate a certain percentage of local employees' salaries as pension fund in compliance with the regulations on elderly insurance system of the Socialist Republic of Vietnam. The percentage of salaries appropriated as pension fund is 14% for Vietnamese employees and 17.5% for foreign employees. The pension fund is managed and organised by the government. The Group shall appropriate monthly and has no further obligation.

(g) The pension costs under the defined contribution pension plans of the Group for the years ended December 31, 2025 and 2024 were $107,840 and $97,155, respectively.

(15) Provisions

	Years ended December 31,
	2025	2024
At January 1	$ 103,804	$ 98,186
Additional provisions	98,446	66,176
Used during the year	( 45,436)	( 60,558)
At December 31	$ 156,814	$ 103,804

Analysis of total provisions:

	December 31, 2025	December 31, 2024
Current	$ 156,814	$ 103,804

The Group provides warranties on monitors and digital TV products sold. Provision for warranty is estimated based on historical warranty data of monitors and digital TV products. It is expected that provision for warranty will be used during the year.

(16) Share capital

A. As of December 31, 2025, the Company's authorised capital was $12,000,000, consisting of 1.2 billion shares of ordinary stock (including 40 million shares reserved for employee stock options), and the paid-in capital was $6,100,000 with a par value of $10 (in dollars) per share. All proceeds from shares issued have been collected.

B. On March 13, 2025, the Board of Directors proposed a capital reduction amounting to $700,000 by retiring 70,000 thousand shares with an equivalent of $1.03 (in dollars) per share, and the capital reduction was approved by the shareholders during their meeting on May 21, 2025. After the reduction, the Company's paid-in capital would be $6,100,000, consisting of 610,000 thousand shares of ordinary stock with a par value of $10 (in dollars) per share. The capital reduction was approved by the Securities and Futures Bureau, Financial Supervisory Commission on July 11, 2025, and the capital reduction is effective on August 1, 2025, as resolved by the Board of Directors. The registration of the capital reduction was completed on September 8, 2025. The aforementioned amount has been paid on October 15, 2025.

C. On March 13, 2024, the Board of directors proposed for a capital reduction amounting to $601,000 by retiring 60,100 thousand shares with an equivalent of $0.81 (in dollars) per share, and the capital reduction was approved by the shareholders at their meeting on June 12, 2024. After the reduction, the Company’s paid-in capital would be $6,800,000, consisting of 680,000 thousand shares of ordinary stock with a par value of $10 (in dollars) per share. The capital reduction was approved by the Securities and Futures Bureau, Financial Supervisory Commission on July 23, 2024, effective on August 2, 2024. The registration of the capital reduction was completed on September 3, 2024, and the amount had been paid on October 7, 2024.

(17) Capital surplus

Pursuant to the R.O.C. Company Law, capital surplus arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit. Further, the R.O.C. Securities and Exchange Law requires that the amount of capital surplus to be capitalised mentioned above should not exceed 10% of the paid-in capital each year. Capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.

	2025
	Share premium	Treasury share transactions	Changes in ownership interests in subsidiaries and associates	Stock option	Total
At January 1 (At December 31)	$ 1,634,433	$ 610,962	$ 11,550	$ 4,718	$ 2,261,663
	2024
	Share premium	Treasury share transactions	Changes in ownership interests in subsidiaries and associates	Stock option	Total
At January 1 (At December 31)	$ 1,634,433	$ 610,962	$ 11,550	$ 4,718	$ 2,261,663

(18) Retained earnings

A. Where the Company accrues profit in the half year, it should first be reserved to pay tax and offset against accumulated deficit, and appropriate 10% of which as legal reserve unless legal reserve amounts to the total authorised capital. In addition, special reserve that has been appropriated or reversed in accordance with related regulations along with the unappropriated retained earnings of the first half of the year can be proposed by Board of Directors for earnings appropriation of dividends. The proposal of appropriation should be approved by the shareholders if dividends would be distributed by issuing new shares; it should be resolved by the Board of Directors if dividends would be distributed in the form of cash. The dividends must not be less than 20% of distributable retained earnings of current year. The dividend can be appropriated in cash or shares and cash dividends must not be less than 20% of total dividends.

B. To accompany the growth and overall environment of the high-tech sector, the Company’s dividend policy is based on the earnings, financial structure and the future development. In addition, the dividend is distributed according to the appropriation of the earnings. Stock dividend shall be based on the proportion to the reserves.

C. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital.

D. In accordance with the regulations, the Company shall set aside special reserve from the debit balance on other equity items at the balance sheet date before distributing earnings. When debit balance on other equity items is reversed subsequently, the reversed amount could be included in the distributable earnings.

E. The appropriations of earnings for 2024 and 2023 were resolved by the shareholders on May 21, 2025 and June 12, 2024. Details are summarized below:

	Year ended December 31		Year ended December 31
	2024		2023
	Amount	Dividends per share (in dollars)	Amount	Dividends per share (in dollars)
Legal reserve appropriated	$ 129,247		$ 44,573
Special reserve appropriated	($ 227,313)		$ 27,377
Distribution of cash dividends	$ 305,000	$ 0.45	$ 401,200	$ 0.54

The aforementioned resolutions are identical to the resolutions passed during the Board of Directors’ meeting held on March 5, 2025. The information on distribution of earnings will be posted on the “Market Observation Post System” of the TSEC.

F. The appropriations of earnings for 2025 had been proposed at the Board of Directors' meeting on March 4, 2026. Details are summarized below:

	Year ended December 31
	2025
	Amount	Dividends per share (in dollars)
Legal reserve appropriated	$ 79,110
Distribution of cash dividends	$ 732,000	$ 1.20

G. Refer to Note 6(25) for details of employees' compensation and directors' remuneration.

(19) Other equity and non-controlling interest items

	2025
	Other equity		Non-controlling interest items
	Currency translation	Gain or loss on unrealised valuation
At January 1	$ 17,809	($ 4,647)	$ 163,789
Unrealised gains from financial assets measured at fair value through other comprehensive income:
- Revaluation	-	( 3,005)	-
- Revaluation-associates	-	( 21,345)	-
Currency translation differences:
-Group	( 233,250)	-	-
-Associates	2,280	-	-
-Non-controlling interest	-	-	( 3,720)
Decrease in non-controlling interest (Note)	-	-	-
Net profit attributable to non-controlling interest	-	-	19,102
At December 31	($ 213,161)	($ 28,997)	$ 163,408

	2024
	Other equity
	Currency translation	Gain or loss on unrealised valuation	Non-controlling interest items
At January 1	($ 183,413)	($ 43,899)	$ 160,501
Unrealised gains from financial assets measured at fair value through other comprehensive income:
- Revaluation	-	7,077	-
- Revaluation-associates	-	32,175	-
Currency translation differences:
-Group	196,096	-	-
-Associates	5,126	-	-
-Non-controlling interest	-	-	6,930
Decrease in non-controlling interest (Note)	-	-	( 17,632)
Net profit attributable to non-controlling interest	-	-	-
At December 31	$ 17,809	($ 4,647)	$ 163,789

Note: The consolidated entity distributed cash dividends, resulting to a decrease in non-controlling interest.

(20) Operating revenue

	Years ended December 31,
	2025	2024
Revenue from contracts with customers	$ 24,659,058	$ 23,235,700

A. Disaggregation of revenue from contracts with customers

The Group derives revenue from the transfer of goods and services at a point in time in the following major product lines: digital television, display, stereo system and peripheral equipment.

Year ended December 31, 2025	Taiwan	USA	China	Others	Total
Monitors	$ 9,640,192	$ 9,818	$ 3,241,167	$ 4,631	$ 12,895,808
Digital television	1,652,839	-	1,475,069	21,182	3,149,090
Computer peripheral products	4,036,001	-	141,401	1,386,997	5,564,399
Stereo system	2,043,179	20,771	-	-	2,063,950
Others	772,676	54,336	123,268	35,531	985,811
	$ 18,144,887	$ 84,925	$ 4,980,905	$ 1,448,341	$ 24,659,058

Year ended December 31, 2024	Taiwan	USA	China	Others	Total
Monitors	$ 7,253,025	$ 45,048	$ 885,881	$ 68,377	$ 8,252,331
Digital television	6,010,006	13,502	2,432,567	92,967	8,549,042
Computer peripheral products	3,506,313	-	110,532	710,163	4,327,008
Stereo system	1,406,576	128,616	-	-	1,535,192
Others	479,124	36,337	42,914	13,752	572,127
	$ 18,655,044	$ 223,503	$ 3,471,894	$ 885,259	$ 23,235,700

B. Contract liabilities

(a) The Group has recognised the following revenue-related contract liabilities:

	December 31, 2025	December 31, 2024	January 1, 2024
Contract liabilities:
Contract liabilities-advancesales receipts	$ 53,363	$ 24	$ 54,031

(b) Revenue recognised that was included in the contract liability balance at the beginning of the period:

	Years ended December 31,
	2025	2024
Revenue recognised that was included inthe contract liability balance at thebeginning of the period
Contract liabilities-advance sales receipts	$ 24	$ 54,031

(21) Interest income

	Years ended December 31,
	2025	2024
Interest income from bank deposits	$ 183,604	$ 229,237

(22) Other income

	Years ended December 31,
	2025	2024
Rental revenue	$ 126,548	$ 125,096
Dividend income	27,572	25,602
Compensation income (Note)	48,227	-
Other income, others	96,513	45,939
	$ 298,860	$ 196,637

Note: Due to the defective quality of products provided by the supplier of the Group's subsidiary, Suzhou Raken Technology Co., Ltd. (‘Suzhou Raken’), Suzhou Raken filed a lawsuit against Suzhou Hanraysun Optoelectronics Technology Co., Ltd. (‘Suzhou Hanraysun’), seeking compensation for losses caused by the poor quality of the products. Suzhou Hanraysun filed a counterclaim against Suzhou Raken, demanding payment of disputed amounts based on the procurement contract between the two parties. The two cases were consolidated for trial. In February 2025, both parties successfully reached a settlement through mediation by the appellate court.

(23) Other gains and losses

	Years ended December 31,
	2025	2024
Net currency exchange (loss) gain	($ 57,921)	$ 191,585
Gain (loss) on disposal of property, plant and equipment	3,920	( 2,836)
Net gain on financial assets at fair value through profit or loss	126,432	743,589
Gain on disposal of investments	-	437
Gain from lease modification	25	34
Loss on disposal of investment	-	( 6,919)
Other losses	( 13,950)	( 15,198)
	$ 58,506	$ 910,692

(24) Finance costs

	Years ended December 31,
	2025	2024
Interest expense:
Bank borrowings	$ 11,089	$ 14,323
Others	2,064	1,052
	$ 13,153	$ 15,375

(25) Expenses by nature

	Years ended December 31,
	2025	2024
Employee benefit expense
Wages and salaries	$ 1,768,351	$ 1,714,503
Labor and health insurance fees	93,719	81,629
Pension costs	108,688	98,402
Directors' remuneration	54,200	62,300
Other personnel expenses	202,231	193,880
	$ 2,227,189	$ 2,150,714
Depreciation and amortisation
Depreciation charges on property, plant and equipment (including investment property)	$ 434,948	$ 415,157
Amortisation charges on right-of-use assets	41,956	39,183
Amortisation charges on intangible assets	22,508	21,412
	$ 499,412	$ 475,752

A. According to the Articles of Incorporation of the Company, a ratio of profit of the current year distributable, after covering accumulated losses, shall be distributed as employees' compensation and directors' and supervisors' remuneration. The ratio shall not be lower than 3% for employees' compensation, of which at least three percent shall be allocated to rank-and-file employees, and shall not be higher than 5% for directors' and supervisors' remuneration.

B. For the years ended December 31, 2025 and 2024, employees' compensation was $67,000 and $110,000, respectively, while directors' and supervisors' remuneration was $24,000 and $40,000, respectively. The aforementioned amounts were recognised in salary expenses.

C. In accordance with the Articles of Incorporation, employees' compensation and directors' and supervisors' remuneration are accrued based on a certain percentage of estimated profit for the current period. For the years ended December 31, 2025 and 2024, employees' compensation was accrued based on 7% and 7% of distributable profit for the period, and directors' and supervisors' remuneration were accrued based on 2% and 2% of distributable profit for the period, respectively.

Information about employees' compensation and directors' and supervisors' remuneration of the Company as resolved by the Board of Directors will be posted in the "Market Observation Post System" at the website of the Taiwan Stock Exchange.

(26) Income tax

A. Income tax expense

(a) Components of income tax expense:

	Years ended December 31,
	2025	2024
Current tax:
Current tax on profits for the year	$ 76,117	$ 382,284
Tax on undistributed surplus earnings	50,722	1,130
Prior year income tax over estimation	( 39,519)	( 20,413)
Total current tax	87,320	363,001
Deferred tax:
Origination and reversal of temporary differences	128,758	( 129,202)
Exchange rate effects	1,628	( 3,356)
Total deferred tax	130,386	( 132,558)
Income tax expense	$ 217,706	$ 230,443

(b) The income tax credit/(charge) relating to components of other comprehensive income is as follows:

	Years ended December 31,
	2025	2024
Remeasurement of defined benefit obligations	$ 84	$ 1,034

B. Reconciliation between income tax expense and accounting profit

	Years ended December 31,
	2025	2024
Tax calculated based on profit before tax and statutory tax rate	$ 249,214	$ 292,037
Effect from items adjusted in accordance with tax regulation	( 35,256)	( 90,032)
Change in assessment of realisation of deferred tax assets	33,587	42,918
Temporary differences not recognised as deferred tax assets and liabilities	( 33,259)	20,648
Prior year income tax over estimation	( 39,519)	( 20,413)
Tax on undistributed surplus earnings	50,722	1,130
Effect from investment tax credits	( 17,487)	( 15,756)
Effect of exchange rate	1,628	( 3,360)
Others	8,076	3,271
Tax expense	$ 217,706	$ 230,443

C. Amounts of deferred tax assets or liabilities as a result of temporary differences are as follows:

	2025
	January 1	Recognised in profit or loss	Recognised in other comprehensive income	Translation differences	December 31
- Deferred tax assets
Temporary differences:
Allowance for inventory price decline	$ 46,024	($ 24,361)	$ -	($ 732)	$ 20,931
Provision for after sale service	19,290	9,796	-	-	29,086
Unrealised sales discount	64,438	( 20,419)	-	-	44,019
Unrealised royalty expense	62,850	( 23,575)	-	-	39,275
Unrealised loss on inter-affiliate accounts	20,251	( 1,169)	-	27	19,109
Loss carryforward	31,430	( 6,468)	-	-	24,962
Others	13,574	( 17,743)	( 84)	( 958)	( 5,211)
	257,857	( 83,939)	( 84)	( 1,663)	172,171
- Deferred tax liabilities:
Temporary differences:
Unrealised gain on valuation of financial assets	( 52,349)	( 31,730)	-	-	( 84,079)
Unrealised gain on long-term investments	( 104,674)	( 18,972)	-	-	( 123,646)
Others	( 109,095)	5,883	-	37	( 103,175)
	( 266,118)	( 44,819)	-	37	( 310,900)
	($ 8,261)	($ 128,758)	($ 84)	($ 1,626)	($ 138,729)

	2024
	January 1	Recognised in other comprehensive income	Translation differences	December 31
—Deferred tax assets
Temporary differences:
Allowance for inventory price decline	$ 29,943	$ 15,002	$ -	$ 1,079	$ 46,024
Provision for after sale service	17,846	1,444	-	-	19,290
Unrealised sales discount	56,224	8,214	-	-	64,438
Unrealised royalty expense	42,008	20,842	-	-	62,850
Unrealised loss on inter-affiliate accounts	20,731	( 1,202)	-	722	20,251
Loss carryforward	9,047	22,383	-	-	31,430
Others	23,759	( 10,769)	( 1,034)	1,618	13,574
	199,558	55,914	( 1,034)	3,419	257,857
—Deferred tax liabilities:
Temporary differences:
Unrealised gain on valuation of financial assets	( 232,928)	180,579	-	-	( 52,349)
Unrealised gain on long-term investments	( 25,404)	( 79,270)	-	-	( 104,674)
Others	( 81,011)	( 28,021)	-	( 63)	( 109,095)
	( 339,343)	73,288	-	( 63)	( 266,118)
	($ 139,785)	$ 129,202	($ 1,034)	$ 3,356	($ 8,261)

D. The Company has not recognised taxable temporary differences associated with investment in subsidiaries as deferred tax liabilities. As of December 31, 2025 and 2024, temporary differences that were not recognised as deferred tax liabilities amounted to $ 1,526,789 and $1,440,203, respectively.

E. The income tax returns of Amtran Technology Co., RICK TECHNOLOGY INC., Rick Service Inc. and REI MAU ENTERPRISE Co., Ltd. through 2022, have been assessed and approved by the Tax Authority.

(27) Earnings per share

	Year ended December 31, 2025
	Amount after tax	Weighted average number of ordinary shares outstanding (shares in thousands)	Earnings per share (in dollars)
Basic earnings per share
Profit attributable to ordinary shareholders of the parent	$ 791,597	650,658	$ 1.22
Diluted earnings per share
Profit attributable to ordinary shareholders of the parent	$ 791,597	650,658
Assumed conversion of all dilutive potential ordinary shares Employees’ compensation	-	5,432
Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares	$ 791,597	656,090	$ 1.21
	Year ended December 31, 2024
	Amount after tax	Weighted average number of ordinary shares outstanding (shares in thousands)	Earnings per share (in dollars)
Basic earnings per share
Profit attributable to ordinary shareholders of the parent	$ 1,288,335	715,140	$ 1.80
Diluted earnings per share
Profit attributable to ordinary shareholders of the parent	$ 1,288,335	715,140
Assumed conversion of all dilutive potential ordinary shares Employees’ compensation	-	6,222
Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares	$ 1,288,335	721,362	$ 1.79

(28) Supplemental cash flow information

A. Investing activities with partial cash payments

	Years ended December 31,
	2025	2024
Purchase of property, plant and equipment	$ 765,563	$ 378,369
Less: Opening balance of prepayments for equipment and land	( 420,938)	( 312,851)
Add: Ending balance of prepayments for equipment and land	206,178	420,938
Add: Opening balance of payable on equipment	36,712	43,123
Less: Ending balance of payable on equipment	( 86,144)	( 36,712)
Cash paid during the year	$ 501,371	$ 492,867
	Years ended December 31,
	2025	2024
Purchase of intangible assets	$ 29,828	$ 18,239
Less: Opening balance of prepayment for intangible assets (shown as “other non-current assets”)	( 6,289)	-
Cash paid during the year	$ 23,539	$ 18,239

(29) Changes in liabilities from financing activities

	Short-term borrowings	Lease liabilities (including current portion)	Guarantee deposits received	Liabilities from financing activities-gross
At January 1, 2025	$ 650,000	$ 31,446	$ 25,527	$ 706,973
Changes in cash flow from financing activities	( 50,000)	( 20,911)	( 813)	( 71,724)
Increase in lease liabilities	-	24,717	-	24,717
Decrease in lease liabilities	-	( 155)	( 146)	( 301)
Impact of changes in foreign exchange rate	-	( 7,189)	-	( 7,189)
At December 31, 2025	$ 600,000	$ 27,908	$ 24,568	$ 652,476

~69~

At January 1, 2024
Changes in cash flow from financing activities
Increase in lease liabilities
Decrease in lease liabilities
Impact of changes in foreign exchange rate
At December 31, 2024

Short-term borrowings	Lease liabilities (including current portion)	Guarantee deposits received	Liabilities from financing activities-gross
$ 425,000	$ 21,668	$ 28,207	$ 474,875
225,000	( 20,015)	( 3,123)	201,862
-	33,383	-	33,383
-	160	443	603
-	3,750	-	( 3,750)
$ 650,000	$ 31,446	$ 25,527	$ 706,973

7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationships

Names of related parties	Relationship with the Group
RARA INC. (RARA)	Other related party
Kuangtung Hua Jung Corporation (Hua Jung)	Associate
Heroic Faith Medical Science Co., Ltd. (Heroic Faith)	"
CDIB-Mac Limited Partnership (CDIB-Mac)	"

(2) Significant transactions and balances with related parties

A. Operating revenue:

Years ended December 31,	2025	2024

Sales of goods:
Other related parties:
— RARA	$ 382,036	$ 561,503

The sales prices are based on contractual terms. No similar transaction can be compared with. The credit terms are 60~90 days after monthly billings for the related parties. For third parties, credit terms are 30~90 days after monthly billings.

B. Purchases of goods:

Years ended December 31,	2025	2024

Purchases of goods:
Associates	$ 3	$ 32

The purchase prices are based on contractual terms, and payments are made by wire transfer. The payment terms are 55~120 days after monthly billings for the related parties and 30~120 days after monthly billings for third parties.

C. Receivables from related parties:

	December 31, 2025	December 31, 2024
Other related parties:
RARA	$ 110,902	$ 128,076

As of December 31, 2025 and 2024, the receivables from related parties were not past due and the counterparties have optimal credit quality.

D. Payables to related parties:

	December 31, 2025	December 31, 2024
Accounts payable:
Associates	$ -	$ 2

E. Operating expenses

	Years ended December 31,
	2025	2024
Other expenses:
Other related parties
RARA	$ 4,830	$ 4,515

F. Property transactions—Acquisition of financial assets

Heroic Faith	Accounting items	Number of shares traded	Trading subject	2025 Acquisition price
	Financial assets at fair value through profit or loss-current	800	Preferred stock	$ 12,530
		Number of shares traded	Trading subject	2024 Acquisition price
	Accounting items
CDIB-Mac	Equity method investment	-	Capital contribution	$ 24,700

(3) Key management compensation

	Years ended December 31,
	2025	2024
Short-term employee benefits	$ 89,350	$ 74,576
Post-employment benefits	4,456	4,260
	$ 93,806	$ 78,836

~71~

8. PLEDGED ASSETS

The Group’s assets pledged as collateral are as follows:

Pledged asset	Book value		Purpose
	December 31, 2025	December 31, 2024
Land	$ 114,416	$ 114,416	Long-term guarantee for borrowings
Building and structures	30,924	32,098	”
Bank deposits (shown as other current assets)	1,681	738	Bank's acceptance bill
	$ 147,021	$ 147,252

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT

COMMITMENTS

(a) Contingencies
None.

(b) Commitments
As of December 31, 2025 and 2024, the Group had capital expenditures contracted for at the balance sheet date but not yet incurred for property, plant and equipment in the amount of $165,715 and $159,057, respectively.

10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

Refer to Note6(18) for the appropriation of 2025 earnings proposed by the Board of Directors on March 4, 2026.

12. OTHERS

(1) Capital management

The Company plans the needs for future operating capital, research and development expenses and dividend distribution based on the Group’s current operating characteristics and future development, taking into account changes in the external environment so as to safeguard the Company’s ability to continue as a going concern, provide returns for shareholders and maintain an optimal capital structure to enhance shareholders’ value in the long-term. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, issue new shares, return cash to shareholders or repurchase its own share.

(2) Financial instruments

A. Financial instruments by category

	December 31, 2025	December 31, 2024
Financial assets
Financial assets mandatorily measured at fair value through profit or loss	$ 1,509,651	$ 1,354,128
Financial assets at fair value through other comprehensive income
Designation of equity instruments	$ 65,439	$ 68,437
Financial assets at amortised cost	$ 10,635,630	$ 11,658,117
Financial liabilities
Financial liabilities at amortised cost	$ 6,983,192	$ 6,112,286
Lease liabilities (including current and non-current)	$ 27,908	$ 31,446

Note: Financial assets at amortised cost included cash, current financial assets measured at amortized cost, accounts receivable, other receivables and guarantee deposits paid. Financial liabilities at amortised cost included short-term borrowings, accounts payable, other payables and guarantee deposits received.

B. Financial risk management policies

The Group adopts an overall risk management and control system to identify and evaluate risk. The Group has a Chief Financial Officer (CFO) to manage all the risk management policies and risk controls. The main duty of the CFO is to oversee implementation of the Group's risk control strategies as follows:

(a) The Group uses derivative financial instruments to hedge the price, interest rate and exchange rate fluctuations, etc. of the Company's assets and liabilities, when these affect profit or loss.
(b) The Group uses derivative financial instruments to hedge the exchange rate fluctuation arising from the foreign currency price of export or import transactions.
(c) Depending on the risk of the variation of derivative financial instruments, to set up stop-loss point to limit possible losses.
(d) To transact with international financial institutions with good credit standing.
(e) To maintain working capital sufficient to support the cash flows resulting from the above contracts and reduce funding risk.

The Group believes that the above financial risk control strategies can effectively lower each kind of risks that the Group encounters.

C. Significant financial risks and degrees of financial risks

(a) Market risk

Foreign exchange risk

i. The Group operates internationally and is exposed to exchange rate risk arising from the transactions of the Company and its subsidiaries used in various functional currency, primarily with respect to the USD and RMB. Exchange rate risk arises from future commercial transactions and recognised assets and liabilities.
ii. Management has set up a policy to require group companies to manage their foreign

exchange risk against their functional currency. The companies are required to hedge their entire foreign exchange risk exposure with the Group treasury. Exchange rate risk is measured through a forecast of highly probable USD and RMB expenditures. Forward foreign exchange contracts are adopted to minimise the volatility of the exchange rate affecting cost of forecast inventory purchases.

iii. The Group's businesses involve some non-functional currency operations (the Company's and certain subsidiaries' functional currency: NTD; other subsidiaries' functional currency: RMB). The information on assets and liabilities denominated in foreign currencies whose values would be materially affected by the exchange rate fluctuations is as follows:

	December 31, 2025
	Foreign currency amount (In thousands)	Exchange rate	Book value (NTD)
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD	$ 288,784	31.43	$ 9,076,481
USD:RMB	66,827	6.9907	2,100,385
USD:VND	78,638	26,097	2,471,592
Non-monetary items
USD:NTD	172,221	31.43	5,412,918
RMB:NTD	253,836	4.4960	1,141,246
Financial liabilities
Monetary items
USD:NTD	209,626	31.43	6,588,545
USD:RMB	43,398	6.9907	1,364,007
USD:VND	113,889	26,097	3,579,531

~74~

	December 31, 2024
	Foreign currency amount (In thousands)	Exchange rate	Book value (NTD)
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD	$ 284,138	32.79	$ 9,316,885
USD:RMB	88,618	7.3225	2,905,784
USD:VND	84,030	25,271	2,755,344
Non-monetary items
USD:NTD	166,663	32.79	5,464,893
RMB:NTD	241,140	4.4780	1,079,825
Financial liabilities
Monetary items
USD:NTD	182,165	32.79	5,973,190
USD:RMB	44,259	7.3225	1,451,253
USD:VND	88,242	25,271	2,893,455

iv. The total exchange gain(loss), including realised and unrealised, arising from significant foreign exchange variation on the monetary items held by the Group for the years ended December 31, 2025 and 2024 amounted to ($57,921) and $191,585, respectively.

v. Analysis of foreign currency market risk arising from significant foreign exchange variation:

	Year ended December 31, 2025
	Sensitivity Analysis
	Degree of variation	Effect on profit or loss	Effect on other comprehensive income
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD	1%	$ 90,765	$ -
USD:RMB	1%	21,004	-
USD:VND	1%	24,716	-
Non-monetary items
USD:NTD	1%	-	54,129
RMB:NTD	1%	-	11,412
Financial liabilities
Monetary items
USD:NTD	1%	65,885	-
USD:RMB	1%	13,640	-
USD:VND	1%	35,795	-

~75~

Year ended December 31, 2024

	Sensitivity Analysis
	Degree of variation	Effect on profit or loss	Effect on other comprehensive income
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD	1%	$ 93,169	$ -
USD:RMB	1%	29,058	-
USD:VND	1%	27,553	-
Non-monetary items
USD:NTD	1%	-	54,649
RMB:NTD	1%	-	10,798
Financial liabilities
Monetary items
USD:NTD	1%	59,732	-
USD:RMB	1%	14,513	-
USD:VND	1%	28,935	-

Price risk

i. The Group’s equity securities, which are exposed to price risk, are the held financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the Group diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the Group.

ii. The Group’s investments in equity securities comprise shares and open-end funds issued by the domestic/overseas companies. The prices of equity securities would change due to the change of the future value of investee companies. If the prices of these equity securities increased/decreased by 1% or floating discount rate changes by 1% with all other variables held constant, post-tax profit for the years ended December 31, 2025 and 2024 would have increased/decreased by $8,814 and $8,233, respectively, as a result of gains/losses on equity securities classified as at fair value through profit or loss. Other components of equity would have increased/decreased by $654 and $19, respectively, as a result of other comprehensive income on equity investments classified as at fair value through other comprehensive income.

Cash flow and fair value interest rate risk

i. The Group’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Group to cash flow interest rate risk. As of December 31, 2025 and 2024, the Group’s borrowings at variable rate were mainly denominated in NT dollars.

ii. At December 31, 2025 and 2024, if interest rates on borrowings had been 0.1% higher/lower with all other variables held constant, post-tax profit for the years ended December 31, 2025 and 2024 would have been $480 and $520 lower/higher, respectively, mainly as a result of changes in interest expense on floating rate borrowings.

(b) Credit risk

i. Credit risk refers to the risk of financial loss to the Group arising from default by the clients or counterparties of financial instruments on the contract obligations. The main factor is that counterparties could not repay in full the accounts receivable based on the agreed terms. Credit risk refers to the risk of financial loss to the Group arising from default by the clients or counterparties of financial instruments on the contract obligations. The main factor is that counterparties could not repay in full the accounts receivable based on the agreed terms, and the contract cash flows of financial instruments stated at amortised cost. The main factor is that counterparties could not repay in full the accounts receivable based on the agreed terms.

ii. The Group manages its credit risk taking into consideration the entire group's concern. For banks and financial institutions, only independently rated parties with a minimum rating of 'A' are accepted. According to the Group's credit policy, each local entity in the Group is responsible for managing and analysing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors.

iii. The Group adopts the assumption under IFRS 9, that is, the default occurs when the contract payments are past due over 90 days.

iv. The ageing analysis of accounts receivable and notes receivable that were past due but not impaired is as follows:

	December 31, 2025	December 31, 2024
Not past due	$ 4,422,873	$ 4,432,701
Up to 30 days	494,824	128,587
31 to 90 days	16,052	11,279
Over 91 days	105,242	579
	$ 5,038,991	$ 4,573,146

v. The Group classifies customer's accounts receivable in accordance with the credit quality rating and used the forecastability of Business Indicators Database and Basel Committee on Banking Supervision to adjust historical and timely information to assess the default possibility of accounts receivable. According to the abovementioned consideration and information, the loss rate methodology as of December 31, 2025 and 2024 is as follows:

~77~

	Group A	Group B	Group C	Total
December 31, 2025
Expected loss rate	0.05%	0.05%	0.7%
Total book value	$ 110,902	$ 4,832,698	$ 95,391	$ 5,038,991
Loss allowance	$ 55	$ 9,276	$ 668	$ 9,999
	Group A	Group B	Group C	Total
December 31, 2024
Expected loss rate	0.05%	0.05%	0.7%
Total book value	$ 128,076	$ 4,423,464	$ 21,606	$ 4,573,146
Loss allowance	$ 64	$ 9,781	$ 151	$ 9,996

Group A: Related parties.

Group B: Customers with an excellent credit rating grade.

Group C: Other customers.

vi. Movements in relation to the Group applying the simplified approach to provide loss allowance for accounts receivable are as follows:

	2025
	Accounts receivable
At January 1	$ 9,996
Provision for expected credit impairment loss	-
Effect of exchange rate changes	3
At December 31	$ 9,999
	2024
	Accounts receivable
At January 1	$ 9,963
Provision for expected credit impairment loss	-
Effect of exchange rate changes	33
At December 31	$ 9,996

i. Cash flow forecasting is performed in the operating entities of the Group and aggregated by Group treasury. Group treasury monitors rolling forecasts of the Group's liquidity requirements to ensure it has sufficient cash to meet operational needs.

ii. Surplus cash held by the operating entities over and above balance required for working capital management are transferred to the Group treasury. Group treasury invests surplus cash in interest bearing current accounts, time deposits and marketable customers, choosing instruments with appropriate maturities or sufficient liquidity to provide sufficient headroom as determined by the abovementioned forecasts.

iii. The table below analyses the Group's non-derivative financial liabilities and net-settled or gross-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date for non-derivative financial liabilities and to the expected maturity date for derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows.

Non-derivative financial liabilities:

December 31, 2025	Less than 1 year	Over 1 year
Accounts payable (including related parties)	$ 5,189,615	$ -
Short-term borrowings	600,000	-
Other payables	1,169,009	-
Lease liabilities	16,957	10,951
Refund liabilities	158,887	-

Non-derivative financial liabilities:

December 31, 2024	Less than 1 year	Over 1 year
Accounts payable (including related parties)	$ 4,205,777	$ -
Short-term borrowings	650,000	-
Other payables	1,230,982	-
Lease liabilities	20,629	10,817
Refund liabilities	260,980	-

(3) Fair value information

A. The different levels that the inputs to valuation techniques are used to measure fair value of financial and non-financial instruments have been defined as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. A market is regarded as active where a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The fair value of the Group's investment in listed stocks, beneficiary certificates and etc. is included in Level 1.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The fair value of the Group's investment in convertible bonds and most derivative instruments is included in Level 2.

~78~

Level 3: Unobservable inputs for the asset or liability. The fair value of the Group’s investment in equity investment without active market is included in Level 3.

B. Financial instruments not measured at fair value

The carrying amounts of cash and cash equivalents, notes receivable, accounts receivable (including related parties), other receivables, notes payable, accounts payable and other payables (including related parties) are approximate to their fair values.

C. The related information on financial and non-financial instruments measured at fair value by level on the basis of the nature, characteristics and risks of the assets and liabilities is as follows:

(a) The related information on the nature of the assets and liabilities is as follows:

December 31, 2025	Level 1	Level 2	Level 3	Total
Assets
Recurring fair value measurements
Financial assets at fair value through profit or loss
Equity securities	$ 361,566	$ 203,171	$ 188,377	$ 753,114
Debt securities	20,000	-	-	20,000
Beneficiary certificates	-	-	136,913	136,913
Derivative instruments	-	387,865	-	387,865
Hybrid instruments	211,759	-	-	211,759
Financial assets at fair value through other comprehensive income
Equity securities	-	-	1,903	1,903
Debt securities	63,536	-	-	63,536
	$ 656,861	$ 591,036	$ 327,193	$ 1,575,090

~80~

December 31, 2024	Level 1	Level 2	Level 3	Total
Assets
Recurring fair value measurements
Financial assets at fair value through profit or loss
Equity securities	$ 352,783	$ 54,296	$ 265,973	$ 673,052
Debt securities	20,000	-	-	20,000
Beneficiary certificates	-	-	170,331	170,331
Derivative instruments	-	304,945	-	304,945
Hybrid instruments	185,800	-	-	185,800
Financial assets at fair value through other comprehensive income
Equity securities	-	-	1,896	1,896
Debt securities	66,541	-	-	66,541
	$ 625,124	$ 359,241	$ 438,200	$ 1,422,565

(b) The methods and assumptions the Group used to measure fair value are as follows:

i. The instruments the Group used market quoted prices as their fair values (that is, Level 1) are listed below by characteristics:

	Listed shares	Open-end fund	Convertible bond
Market quoted price	Closing price	Net asset value	Closing

ii. Except for financial instruments with active markets, the fair value of other financial instruments is measured by using valuation techniques. The fair value of financial instruments measured by using valuation techniques can be referred to current fair value of instruments with similar terms and characteristics in substance, other valuation methods, including calculated by applying model using market information available at the consolidated balance sheet date.

iii. When assessing non-standard and low-complexity financial instruments, for example, foreign exchange swap contracts, the Group adopts valuation technique that is widely used by market participants. The inputs used in the valuation method to measure these financial instruments are normally observable in the market.

iv. The valuation of derivative financial instruments is based on valuation model widely accepted by market participants, such as present value techniques and option pricing models. Forward exchange contracts are usually valued based on the current forward exchange rate.

v. The Group takes into account adjustments for credit risks to measure the fair value of financial and non-financial instruments to reflect credit risk of the counterparty and the Group's credit quality.

D. For the years ended December 31, 2025 and 2024, there was no transfer between Level 1 and Level 2.
E. The following chart is the movement of Level 3 for the years ended December 31, 2025 and 2024:

	2025
	Equity securities	Foreign venture capital	Total
At January 1	$ 267,869	$ 170,331	$ 438,200
Gains recognised in profit or loss	( 22,443)	( 33,418)	( 55,861)
Acquired during the period	26,665	-	26,665
Disposed of during the period	( 600)	-	( 600)
Effect of exchange rate	( 79,748)	-	( 79,748)
Transfers out from level 3	( 1,463)	-	( 1,463)
At December 31	$ 190,280	$ 136,913	$ 327,193
	2024
	Equity securities	Foreign venture capital	Total
At January 1	$ 314,265	$ 161,238	$ 475,503
Gains recognised in profit or loss	( 30,540)	9,093	( 21,447)
Disposed of during the year	( 18,222)	-	( 18,222)
Effect of exchange rate	2,366	-	2,366
At December 31	$ 267,869	$ 170,331	$ 438,200

F. In the valuation process of categorising the fair value into Level 3, the Group's investment segment or the appointed third party conducts independent verification for the fair value of financial instruments by matching the valuation result with market status through independent resource, verifying its independence, reliability, consistency with other resource and representation of viable price. Besides, the segment regularly calibrates the valuation model, conducts retrospective tests, updates the values of input, data, and makes any other necessary adjustment to the fair value to ensure the valuation result is reasonable.
G. The details about quantified information in relation to significant unobservable inputs for measuring the fair value of Level 3 and sensitivity analysis of significant unobservable inputs is listed below and Note 12(3)8:

	Fair value at December 31, 2025	Valuation technique	Significant unobservable inputs	Range (weighted average)	Relationship of inputs to fair value
Non-derivative equity instruments
Unlisted shares	$ 141,558	Market comparable companies	Operating income multiple price to book ratio multiple and price to earnings ratio multiple	0.25~1.55 (0.89)	The higher the multiple, the higher the fair value
Unlisted shares (including venture capital shares and funds)	185,635	Net asset value	Not applicable	Not applicable	The higher the net asset value, the higher the fair value
	Fair value at December 31, 2024	Valuation technique	Significant unobservable inputs	Range (weighted average)	Relationship of inputs to fair value
Non-derivative equity instruments
Unlisted shares	$ 164,532	Market comparable companies	Operating income multiple price to book ratio multiple and price to earnings ratio multiple	0.32~1.69 (0.97)	The higher the multiple, the higher the fair value
Unlisted shares (including venture capital shares and funds)	273,668	Net asset value	Not applicable	Not applicable	The higher the net asset value, the higher the fair value

H. The Group has carefully assessed the valuation models and assumptions used to measure fair value. However, use of different valuation models or assumptions may result in different measurement. The following is the effect on profit or loss or on other comprehensive income from financial assets and liabilities categorised within Level 3 if the inputs used to valuation models have changed:

	Input	Change	December 31, 2025
			Recognised in profit or loss		Recognised in other comprehensive income
			Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets
Equity instrument	Price to book ratio multiple	± 1%	$ 1,416	$ 1,416	$ -	$ -
Equity instrument	Not applicable	± 1%	1,837	1,837	19	19
			$ 3,253	$ 3,253	$ 19	$ 19
	Input	Change	December 31, 2024
			Recognised in profit or loss		Recognised in other comprehensive income
			Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets
Equity instrument	Price to book ratio multiple	± 1%	$ 1,645	$ 1,645	$ -	$ -
Equity instrument	Not applicable	± 1%	2,718	2,718	19	19
			$ 4,363	$ 4,363	$ 19	$ 19

13. SUPPLEMENTARY DISCLOSURES

(1) Significant transactions information

Information on significant transactions as of and for the years ended December 31, 2025 in conformity with the “Rules Governing the Preparation of Financial Statements by Securities Issuers” are as follows. In addition, inter-company transactions between companies were eliminated. The following disclosures are for reference only:

A. Loans to others: Refer to table 1.
B. Provision of endorsements and guarantees to others: Refer to table 2.
C. Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures): Refer to table 3.
D. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 4.
E. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 5.
F. Significant intragroup transactions during the reporting periods: Refer to table 6.

(2) Information on investees

Names, locations and other information of investee companies (not including investees in Mainland China): Refer to table 7.

(3) Information on investments in Mainland China

A. Basic information: Refer to table 8.
B. Significant transactions, either directly or indirectly through a third area, with investee companies in the Mainland Area: Refer to table 4, 5 and 6.

SEGMENT INFORMATION

(1) General information

The Group prepares segment information based on the geographical area for the management review. At present, the Company's primary sales locations are Taiwan, America and China. Due to the fact that the sales channel, nature of products and other influential elements are heavily affected by geographical factors, the operating management implemented different financial management and performance method for the three areas. Therefore, the reportable segments are Taiwan, America and China.

(2) Operating segments evaluation

The Company evaluates operating segments' performance based on operating revenue and net income before income tax. All operating segments implemented the Group accounting policies which are detailed in Note 4 of the consolidated financial statements. The transactions between segments are conducted based on fair trading principle. The external revenue submitted to key operation decision makers is consistent with the revenue in the statement of comprehensive income. The reconciliation information about comprehensive income before tax of reportable segments after adjustment in current period is described in Note 14(3).

~84~

(3) Information on segment profit and loss

The segment information provided to the chief operating decision-maker for the reportable segment is as follows:

Year ended December 31, 2025

	Taiwan	Americas	China	Others	Eliminated by consolidation	Consolidated
Income from arm's length parties	$ 18,144,887	$ 84,925	$ 4,980,905	$ 1,448,341	$ -	$ 24,659,058
Interdepartmental transaction	717,233	-	7,561,305	11,895,321	( 20,173,859)	-
	$ 18,862,120	$ 84,925	$ 12,542,210	$ 13,343,662	($ 20,173,859)	$ 24,659,058
Segment income (loss), before tax	$ 1,025,456	$ 41,841	$ 283,725	$ 104,165	($ 426,782)	$ 1,028,405
Segment income (loss), net of tax	$ 869,811	$ 42,274	$ 229,457	$ 95,939	($ 426,782)	$ 810,699
Segment income (loss), including:
Depreciation and amortisation	$ 58,448	$ 5,616	$ 137,433	$ 297,915	$ -	$ 499,412
Interest income	144,462	22,458	15,742	942	-	183,604
Interest expense	( 11,716)	( 105)	( 554)	( 820)	42	( 13,153)
Income tax expenses	( 155,646)	433	( 54,267)	( 8,226)	-	( 217,706)
Share of (loss)/profit of associates accounted for using equity method	400,002	-	98,856	-	( 435,686)	63,172
Segment assets	$ 22,339,592	$ 839,683	$ 7,850,578	$ 7,022,384	($ 16,560,422)	$ 21,491,815
Segment liabilities	$ 8,224,697	$ 39,791	$ 2,999,083	$ 4,145,782	($ 7,458,017)	$ 7,951,336

~85~

~86~

Year ended December 31, 2024

	Taiwan	Americas	China	Others	Eliminated by consolidation	Consolidated
Income from arm's length parties	$ 18,655,044	$ 223,503	$ 3,471,894	$ 885,259	$ -	$ 23,235,700
Interdepartmental transaction	1,847,756	-	5,793,777	14,098,640	( 21,740,173)	-
	$ 20,502,800	$ 223,503	$ 9,265,671	$ 14,983,899	($ 21,740,173)	$ 23,235,700
Segment income (loss), before tax	$ 1,601,862	$ 21,026	($ 195,005)	$ 408,561	($ 303,676)	$ 1,532,768
Segment income (loss), net of tax	$ 1,359,564	$ 20,920	($ 174,882)	$ 400,399	($ 303,676)	$ 1,302,325
Segment income (loss), including:
Depreciation and amortisation	$ 56,189	$ 5,847	$ 135,423	$ 278,293	$ -	$ 475,752
Interest income	160,260	26,100	41,962	915	-	229,237
Interest expense	( 11,002)	( 139)	( 4,121)	( 151)	38	( 15,375)
Income tax expenses	( 242,299)	( 106)	20,124	( 8,162)	-	( 230,443)
Share of (loss)/profit of associates accounted for using equity method	389,718	-	( 47,749)	-	( 312,812)	29,157
Segment assets	$ 22,164,751	$ 902,072	$ 7,630,969	$ 6,337,380	($ 15,862,116)	$ 21,173,056
Segment liabilities	$ 7,659,683	$ 84,153	$ 3,030,080	$ 3,341,357	($ 6,951,464)	$ 7,163,809

(4) Reconciliation for segment income (loss)

A. Sales between segments are carried out at arm’s length. The revenue from external customers reported to the chief operating decision-maker is measured in a manner consistent with that in the statement of comprehensive income.

B. The adjusted consolidated total profit and reconciliation for post-tax profit (loss) of reportable segment for the current period are provided in Note 14(3).

(5) Information on products and services

Revenue from external customers is mainly from sales of digital television, monitor and stereo system. Details of revenue are as follows:

	Years ended December 31,
	2025	2024
Monitors	12,895,808	8,252,331
Digital televisions	3,149,090	8,549,042
Computer peripheral products	5,564,399	4,327,008
Stereo systems	2,063,950	1,535,192
Others	985,811	572,127
	$ 24,659,058	$ 23,235,700

(6) Geographical information

Geographical information for the years ended December 31, 2025 and 2024 is as follows:

	Years ended December 31,
	2025		2024
	Revenue	Non-current assets	Revenue	Non-current assets
Asia	$ 4,714,230	$ 2,604,292	$ 8,326,425	$ 2,370,272
America	597,938	214,207	3,559,251	229,385
Taiwan	10,719,457	1,125,245	4,984,268	1,147,047
Europe	7,617,114	-	5,090,821	-
Others	1,010,319	-	1,274,935	-
	$ 24,659,058	$ 3,943,744	$ 23,235,700	$ 3,746,704

(7) Major customer information

Major customer information of the Group for the years ended December 31, 2025 and 2024 is as follows:

Years ended December 31,

	2025		2024
	Revenue	Segment	Revenue	Segment
Customer S	$ 1,622,460	Taiwan and China	$ 4,558,843	Taiwan and China
Customer L	6,016,660	Taiwan	3,617,757	Taiwan
Customer B	550,609	Taiwan	3,337,480	Taiwan
Customer M	1,757,520	China	2,798,882	China
Customer A	5,936,357	Taiwan and China	986,926	Taiwan and China
Customer I	2,962,500	Taiwan and China	1,496,414	Taiwan and China
	$ 18,846,106		$ 16,796,302

~88~

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Loans to others

Year ended December 31, 2025

Table 1

No. (Note 1)	Creditor	Borrower	General ledger account	Is a related party	Maximum outstanding balance during the year ended December 31, 2025	Balance at December 30, 2025	Actual amount drawn down	Interest rate	Nature of loan (Note 2)	Amount of transactions with the borrower	Reason for short-term financing	Allowance for doubtful accounts	Collateral Item	Value	Limit on loans granted to a single party (Note 3)	Ceiling on total loans granted (Note 3)	Footnote
0	Amtran Technology Co., Ltd.	AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Other receivables-related parties	Y	$ 330,100	$ 314,300	$ -	Based on the agreement	2	$ -	For acquisitions of equipment and operational needs	$ -	None	$ -	$ 2,675,414	$ 5,350,828

Note 1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:

(1) The Company is '0'.
(2) The subsidiaries are numbered in order starting from '1'.

Note 2: The column of 'Nature of loan' shall fill in 'Business transaction or 'Short-term financing:

(1) The Business association is '1'.
(2) The Short-term financing are numbered in order starting from '2'

Note 3: Ceiling on total loans granted shall not exceed $40\%$ of the Company's net asset value. Limit on loans granted to a single party shall not exceed $10\%$ of the Company's net asset value, except for the subsidiaries, which have $90\%$ voting shares held by the Company, shall not exceed $20\%$ of the Company's net asset value.

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Provision of endorsements and guarantees to others

Year ended December 31, 2025

Table 2

Number (Note 1)	Endorser/guarantor	Party being endorsed/guaranteed		Limit on endorsements/guarantees provided for a single party (Notes 3 and 8)	Maximum outstanding endorsement/guarantee amount as of December 31, 2025 (Note 4)	Outstanding endorsement/guarantee amount at December 31, 2025 (Note 5)	Actual amount drawn down (Note 6)	Amount of endorsements/guarantees secured with collateral	Ratio of accumulated endorsement/guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of guarantees provided (Notes 3 and 8)	Provision of endorsements/guarantees by parent company to subsidiary (Note 7)	Provision of endorsements/guarantees by subsidiary to parent company (Note 7)	Provision of endorsements/guarantees to the party in Mainland China (Note 7)
		Company name	Relationship with the endorser/guarantor (Note 2)
0	Amtran Technology Co., Ltd.	AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	2	$ 2,675,414	$ 1,485,450	$ 1,005,760	$ -	$ -	7.52	$ 6,688,536	Y	N	N
0	Amtran Technology Co., Ltd.	RICK TECHNOLOGY INC.	2	$ 2,675,414	1,485,450	408,590	-	-	3.05	$ 6,688,536	Y	N	N

Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:

(1) The Company is '0'.
(2) The subsidiaries are numbered in order starting from '1'.

Note 2: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following six categories; fill in the number of category each case belongs to:

(1) Having business relationship.
(2) The endorser/guarantor parent company owns directly more than $50\%$ voting shares of the endorsed/guaranteed subsidiary.
(3) The endorser/guarantor parent company and its subsidiaries jointly own more than $50\%$ voting shares of the endorsed/guaranteed company.
(4) The endorsed/guaranteed parent company directly or indirectly owns more than $50\%$ voting shares of the endorser/guarantor subsidiary.
(5) Mutual guarantee of the trade as required by the construction contract.
(6) Due to joint venture, each shareholder provides endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.

Note 3: Fill in limit on endorsements/guarantees provided for a single party and ceiling on total amount of endorsements/guarantees provided as prescribed in the endorser/guarantor company's "Procedures for Provision of Endorsements and Guarantees", and state each individual party to which the endorsements/guarantees have been provided and the calculation for ceiling on total amount of endorsements/guarantees provided in the footnote.

Note 4: Fill in the year-to-date maximum outstanding balance of endorsements/guarantees provided as of the reporting period.

Note 5: Once endorsement/guarantee contracts or promissory notes are signed/issued by the endorser/guarantor company to the banks, the endorser/guarantor company bears endorsement/guarantee liabilities. And all other events involve endorsements and guarantees should be included in the balance of outstanding endorsements and guarantees.

Note 6: Fill in the actual amount of endorsements/guarantees used by the endorsed/guaranteed company.

Note 7: Fill in 'Y' for those cases of provision of endorsements/guarantees by listed parent company to subsidiary and provision by subsidiary to listed parent company, and provision to the party in Mainland China.

Note 8: Ceiling on total amount of endorsements/guarantees provided shall not exceed $50\%$ of the Company's latest net assets; limit on endorsement/guarantee to a single party shall not exceed $10\%$ of the Company's net assets, except for the subsidiaries, which have $90\%$ voting shares held by the Company directly, shall not exceed $20\%$ of the Company's net asset value as prescribed in the Company's "Procedures for Provision of Loans". The net assets were based on the latest audited financial statements of the Company.

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures)

Year ended December 31, 2025

Table 3

Expressed in thousands of NTD

(Except as otherwise indicated)

Securities held by	Marketable securities(Note 1)	Relationship with the securities issuer (Note 2)	General ledger account	As of December 31, 2025
				Number of shares(in thousands)	Book value(Note 3)	Ownership (%)	Fair value
Amtran Technology Co., Ltd.	Domestic and foreign listed stocks
	Beiley Biofund Inc.	-	Financial assets at fair value through profit or loss-current	7,399	$ 182,382	3.60%	$ 182,382
Amtran Technology Co., Ltd.	Domestic and foreign unlisted stocks
	OWLINK TECHNOLOGY, INC.	-	Financial assets at fair value through profit or loss-current	Note 5	93,347	8.47%	93,347
Amtran Technology Co., Ltd.	Foreign Venture Fund
	CHERUBIC VENTURES FUND II L.P	-	Financial assets at fair value through profit or loss-current	-	116,158	-	116,158

Note 1: Marketable securities in the table refer to stocks, bonds, beneficiary certificates and other related derivative securities.
Note 2: Leave the column blank if the issuer of marketable securities is non-related party.
Note 3: Fill in the amount after adjusted at fair value and deducted by accumulated impairment for the marketable securities measured at fair value; fill in the acquisition cost or amortised cost deducted by accumulated impairment for the marketable securities not measured at fair value.
Note 4: The number of shares of securities and their amounts pledged as security or pledged for loans and their restrictions on use under some agreements should be stated in the footnote if the securities presented herein have such conditions.
Note 5: As of June 30, 2025, the Company held 1,200 thousand Series A Stock preference shares, 2,100 thousand Seris B Stock shares and 1,200 thousand Seed Preferred Stock shares of Owlink Technology, Inc., constituting $8.47\%$ of shareholding ratio.
Note 6: This table presents the marketable securities disclosed by the company based on materiality considerations.

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more

Year ended December 31, 2025

Table 4

Expressed in thousands of NTD

(Except as otherwise indicated)

Purchaser/seller	Counterparty	Relationship with the counterparty	Transaction				Differences in transaction terms compared to third party transactions (Note 1)		Notes/accounts receivable (payable)
			Purchases (sales)	Amount	Percentage of total purchases (sales)	Credit term	Unit price	Credit term	Balance	Percentage of total notes/accounts receivable (payable)
Amtran Technology Co., Ltd.	Suzhou Raken Technology Ltd.	The Company's subsidiary	(Sales)	$ 173,587	1%	60 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ -	0%
Amtran Technology Co., Ltd.	RICK TECHNOLOGY INC.	The Company's subsidiary	(Sales)	$ 300,869	2%	90 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ 90,560	2%
Suzhou Raken Technology Ltd.	Amtran Technology Co., Ltd.	Ultimate parent company	(Sales)	$ 6,746,279	54%	75 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ 1,894,620	70%
RICK TECHNOLOGY INC.	RARA INC.	Other related party	(Sales)	$ 360,752	93%	90 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ 108,304	98%
AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Amtran Technology Co., Ltd.	Ultimate parent company	(Sales)	$ 11,738,216	88%	75 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ 1,736,445	79%
AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Suzhou Raken Technology Ltd.	Fellow subsidiary	(Sales)	$ 134,333	1%	90 days after monthly billings	Sales price under mutual agreement	30–90 days after monthly billing for regular clients	$ 19,215	1%

Note 1: If terms of related party transactions are different from third-party transactions, explain the differences and reasons in the 'Unit price' and 'Credit term' columns.
Note 2: In case related-party transaction terms involve advance receipts (prepayments) transactions, explain in the footnote the reasons, contractual provisions, related amounts, and differences in types of transactions compared to third-party transactions.
Note 3: Paid-in capital referred to herein is the paid-in capital of parent company. In the case that shares were issued with no par value or a par value other than NT$10 per share, the 20% of paid-in capital shall be replaced by 10% of equity attributable to owners of the parent in the calculation.
Note 4: The transactions between the Company and subsidiaries are disclosed from the aspect of asset and revenue and the corresponding transactions are not disclosed.

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Receivables from related parties reaching $100 million or 20% of paid-in capital or more

Year ended December 31, 2025

Table 5
Expressed in thousands of NTD (Except as otherwise indicated)

Creditor	Counterparty	Relationship with the counterparty	Balance as at December 31, 2025 (Note 1)	Turnover rate	Overdue receivables		Amount collected subsequent to the balance sheet date	Allowance for doubtful accounts
					Amount	Action taken
AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED.	Amtran Technology Co., Ltd.	Ultimate parent company	$ 1,736,445	6.07	$ -	$ -	$ 832,895	$ -
Suzhou Raken Technology Ltd.	Amtran Technology Co., Ltd.	Ultimate parent company	1,894,620	4.03	-	-	951,146	-
RICK TECHNOLOGY INC.	RARA INC.	Other related party	108,304	3.15	-	-	31,802	-

Note 1: Fill in separately the balances of accounts receivable-related parties, notes receivable-related parties, other receivables-related parties...etc.
Note 2: Paid-in capital referred to herein is the paid-in capital of parent company. In the case that shares were issued with no par value or a par value other than NT$10 per share, the 20% of paid-in capital shall be replaced by 10% of equity attributable to owners of the parent in the calculation.

Table 5, Page 1

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Significant inter-company transactions during the reporting period

Year ended December 31, 2025

Table 6

Expressed in thousands of NTD

(Except as otherwise indicated)

Transaction (Note 5)

Number (Note 1)	Company name	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
1	Suzhou Raken Technology Ltd.	Amtran Technology Co., Ltd.	Subsidiary to parent company	Sales	$ 6,746,279	75 days after monthly billings	27%
1	Suzhou Raken Technology Ltd.	Amtran Technology Co., Ltd.	Subsidiary to parent company	Accounts receivable	1,894,620	75 days after monthly billings	9%
2	AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Amtran Technology Co., Ltd.	Subsidiary to parent company	Sales	11,738,216	75 days after monthly billings	48%
2	AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Amtran Technology Co., Ltd.	Subsidiary to parent company	Accounts receivable	1,736,445	75 days after monthly billings	8%

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:
(1) Parent company is '0'.
(2) The subsidiaries are numbered in order starting from '1'.
Note 2: Relationship between transaction company and counterparty is classified into the following three categories:
(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiary.
Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts.
Note 4: The Company may decide to disclose or not to disclose transaction details in this table based on the materiality principle.
Note 5: The individual transaction below NT$0.5 billion is not disclosed. Transactions are disclosed from the assets and revenue's side and are not disclosed from the opposite side.

Table 6, Page 1

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Information on investees

Year ended December 31, 2025

Table 7

Expressed in thousands of NTD

(Except as otherwise indicated)

Investor	Investee (Notes 1 and 2)	Location	Main business activities	Initial investment amount		Shares held as at December 31, 2025			Net profit (loss) of the investee for the year ended December 31, 2025 (Note 2(2))	Investment income (loss) recognised by the Company for the year ended December 31, 2025 (Note 2(3))
				Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value
Amtran Technology Co., Ltd.	ABOUND PROFITS LIMITED	British Virgin Islands	General investment business	$ 847,755	$ 847,755	24,800,000	100.00%	$ 1,844,124	$ 84,494	$ 84,494
Amtran Technology Co., Ltd.	REI MAU ENTERPRISE CO., LTD.	Taiwan	General investment business	299,980	299,980	29,998,000	100.00%	417,136	61,654	61,654
Amtran Technology Co., Ltd.	ASEV DISPLAY LABS	U.S.A	Sales of computer software and hardware, after-sales services	67,189	67,189	2,000,000	100.00%	108,868	1,624	1,624
Amtran Technology Co., Ltd.	RICK TECHNOLOGY INC.	Taiwan	Merchandising Business	88,573	88,573	16,400,000	82.00%	253,780	14,114	11,574
Amtran Technology Co., Ltd.	AMTRAN LOGISTICS, INC.	U.S.A	Sales of LCD TVs and logistic services	32,814	32,814	1,000,000	100.00%	489,214	24,640	24,640
Amtran Technology Co., Ltd.	AMTRAN VIDEO CORPORATION	U.S.A	Sales of LCD TVs and logistic services	28,560	28,560	1,000,000	100.00%	10,342 (	13,432)	13,432)
Amtran Technology Co., Ltd.	SPYGLASS TESLA, LLC.	U.S.A	General investment business	57,437	57,437	1,750,000	43.75%	83,767	29,442	12,881
Amtran Technology Co., Ltd.	AMTRAN VIETNAM TECHNOLOGY COMPANY LIMITED	Vietnam	Manufacturing and sales of LCDs	2,387,954	2,387,954	-	100.00%	2,840,516	94,862	94,862
Amtran Technology Co., Ltd.	AMTRAN VIETNAM TRADING COMPANY LIMITED	Vietnam	Merchandising Business	30,074	30,074	-	100.00%	36,087	1,077	1,077
Amtran Technology Co., Ltd.	HUA JUNG COMPONENTS CO., LTD.	Taiwan	Manufacture of electronic components	497,099	497,099	54,575,709	31.60%	447,516	67,068	21,193

Table 7, Page 1

Investor	Investee (Notes 1 and 2)	Location	Main business activities	Initial investment amount		Shares held as at December 31, 2025			Net profit (loss) of the investee for the year ended December 31, 2025 (Note 2(2))	Investment income (loss) recognised by the Company for the year ended December 31, 2025 (Note 2(3))
				Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value
Amtran Technology Co., Ltd.	BMA VENTURE CAPITAL INVESTMENT CORPORATION	Taiwan	Venture capital business	$ 53,951	$ 58,963	5,395,131	24.14%	$ 24,321	($ 34,873)	($ 8,418)
REI MAU ENTERPRISE CO., LTD.	REI MAU Capital Inc	Taiwan	Venture capital business	6,000	6,000	600,000	100.00%	11,206	2,445	2,445
REI MAU ENTERPRISE CO., LTD.	CDIB-Mac Limited Partnership	Taiwan	Venture capital business	140,583	116,483	-	40.17%	196,219	122,412	49,173
REI MAU Capital Inc.	CDIB-Mac Limited Partnership	Taiwan	Venture capital business	3,500	3,500	-	1.00%	4,886	122,412	1,224
RICK TECHNOLOGY INC	Rick Service Inc.	Taiwan	Logistic services	15,074	15,074	3,000,000	100.00%	25,205	( 5,075)	( 5,075)

Note 1: If a public company is equipped with an overseas holding company and takes consolidated financial report as the main financial report according to the local law rules, it can only disclose the information of the overseas holding company about the disclosure of related overseas investee information.

Note 2: If situation does not belong to Note 1, fill in the columns according to the following regulations:

(1) The columns of 'Investee', 'Location', 'Main business activities', Initial investment amount' and 'Shares held as at December 31, 2025' should fill orderly in the Company's (public company's) information on investees and every directly or indirectly controlled investee's investment information, and note the relationship between the Company (public company) and its investee each (ex. direct subsidiary or indirect subsidiary) in the 'footnote' column..
(2) The 'Net profit (loss) of the investee for the year ended December 31, 2025' column should fill in amount of net profit (loss) of the investee for this period.
(3) The 'Investment income (loss) recognised by the Company for the year ended December 31, 2025' column should fill in the Company (public company) recognised investment income (loss) of its direct subsidiary and recognised investment income (loss) of its investee accounted for under the equity method for this period. When filling in recognised investment income (loss) of its direct subsidiary, the Company (public company) should confirm that direct subsidiary's net profit (loss) for this period has included its investment income (loss) which shall be recognised by regulations.

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Information on investments in Mainland China

Year ended December 31, 2025

Table 8

Expressed in thousands of NTD

(Except as otherwise indicated)

Investee in Mainland China	Main business activities	Paid-in capital	Investment method	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2025		Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Net income of investee for the year ended December 31, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2025	Book value of investments in Mainland China as of December 31, 2025	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2025
					Remitted to Mainland China	Remitted back to Taiwan
Amtran Electronic (Suzhou) Co., Ltd.	R&D, manufacturing and repair service of LCDs	$ 1,188,054	1	$ 622,314	$ -	$ -	$ 622,314	$ 103,784	100.00	$ 103,784	$ 1,747,099	$ 1,171,421
Suzhou Raken Technology Ltd.	R&D, manufacturing and repair service of LCDs	2,857,446	1	-	-	-	-	144,963	62.05	89,951	1,676,738	623,694
Suzhou Raken Technology Ltd.	R&D, manufacturing and repair service of LCDs	2,857,446	3	1,084,363	-	-	1,084,363	144,963	37.95	55,012	1,141,246	551,544
Company name	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (MOEA)	Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA
Amtran Technology Co., Ltd.	$ 1,706,677	$ 2,753,299	$ 8,026,243

Note 1: (1) The investee companies was invested through a company founded in the third territory, of which Amtran Electronic(Suzhou) Co., Ltd. and Suzhou Raken Technology Ltd. were invested by Abound Profits Limited and Amtran Electronic (Suzhou) Co., Ltd., respectively.
(2) Through investing in an existing company in the third area, which then invested in the investee in Mainland China.
(3) Others (directly invested in the company in Mainland China)
Note 2: The recognition in relation to Amtran Electronic (Suzhou) Co., Ltd. and Suzhou Raken Technology Ltd. was based on the Taiwanese parent company's financial statements which were audited by independent auditors.
Note 3: USD : NTD=1:31.43

AI assistant

AMTRAN — Audit Report / Information 2025

52121_rns_2026-05-13_8fc302ed-f74e-4793-9f0f-72d01cb75978.pdf

Representation Letter

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Allowance for inventory valuation losses

Description

Responsibilities of management and those charged with governance for the consolidated financial statements

Auditors' responsibilities for the audit of the consolidated financial statements

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

AMTRAN TECHNOLOGY CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YEARS ENDED DECEMBER 31, 2025 AND 2024

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

(5) Inventories

Balance sheet

Statement of comprehensive income

(15) Provisions

(16) Share capital

B. Contract liabilities

(23) Other gains and losses

(24) Finance costs

7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationships

(2) Significant transactions and balances with related parties

8. PLEDGED ASSETS

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT

COMMITMENTS

10. SIGNIFICANT DISASTER LOSS

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

12. OTHERS

B. Financial risk management policies

C. Significant financial risks and degrees of financial risks

Price risk

Cash flow and fair value interest rate risk

13. SUPPLEMENTARY DISCLOSURES

(1) Significant transactions information

(2) Information on investees

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

Provision of endorsements and guarantees to others

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

AMTRAN TECHNOLOGY CO., LTD. AND ITS SUBSIDIARIES

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AMTRAN Audit Report / Information 2025