Aurora - Annual Report 2023 | FinancialReports.eu

Stock Code: 2373

Aurora Corporation and Subsidiaries

Consolidated Financial Statements and Independent Auditors' Report

For the Years Ended December 31, 2023 and 2022

Address: 15 Floor, No. 2, Section 5, Xinyi Road, Taipei City Tel: (02)23458088

§Table of Contents§

Item 1. Cover Page 2. Table of Contents 3. Declaration of Consolidated Financial Statements of Affiliates 4. Independent Auditors' Report 5. Consolidated Balance Sheets 6. Consolidated Statements of Comprehensive Income 7. Consolidated Statements of Changes in Equity 8. Consolidated Statements of Cash Flows 9. Notes to Consolidated Financial Statements a. Company History b. Date of Authorization for Issuance of the Consolidated Financial Statements and Procedures for Authorization c. Application of New and Amended Standards and Interpretations d. Summary of Significant Accounting Policies e. Primary Sources of Uncertainties in Material Accounting Judgments, Estimates, and Assumptions f. Details of Significant Accounts g. Related Party Transactions h. Pledged Assets i. Significant Contingent Liabilities and Unrecognized Contract Commitments j. Significant Disaster Loss k. Significant Events after the Balance Sheet Date l. Others m. Supplementary Disclosures 1) Information on Significant Transactions 2) Information on Invested Companies 3) Information on Investments in Mainland China 4) Information on Major Shareholders n. Segment Information	Page 1 2 3 4-6 7 8-10 11 12-13 14 14 14-16 16-24 24 24-62 63-67 68 68-69 - 69 69 70`、`72-77 70`、`78 70`、`79-81 70`、`82 71	Number of Notes to Financial Statements
		- - - - - - - - I II III IV V VI~ XXXI XXXII XXXIII XXXIV - XXXV XXXVI XXXV XXXVII XXXVII XXXVII XXXVIII

Notice to readers

The reader is advised that this annual report has been prepared originally in Chinese. In the event of a conflict between this annual report and the original Chinese version or difference in interpretation between the two versions, the Chinese language Consolidated Financial Statements and Independent Auditors' Report shall prevail.

Declaration of Consolidated Financial Statements of Affiliates

In 2023 (from January 1, 2023 to December 31, 2023), the companies required to be included in the consolidated financial statements of affiliates under the "Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises" are all the same as companies required to be included in the consolidated financial statements of parent and subsidiary companies as provided in the International Financial Reporting Standards (IFRS) 10, and relevant information that should be disclosed in the consolidated financial statements of affiliates has all been disclosed in the consolidated financial statements of parent and subsidiary companies. Aurora hereby produces this declaration to the effect that no preparation for the separate consolidated financial statements of affiliates is required. Sincerely,

Company: Aurora Corporation

Chairman: Yuan Hui-Hua

March 15, 2024

Independent Auditors' Report

To Aurora Corporation:

Opinions

Aurora Corporation and its subsidiaries' Consolidated Balance Sheets as of December 31, 2023 and 2022, in addition to the Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity, Consolidated Statements of Cash Flows, and Notes to the Consolidated Financial Statements (including a summary of significant accounting policies) from January 1 to December 31, 2023 and 2022, have been audited by the CPAs.

In our opinion, the Consolidated Financial Statements mentioned above have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, as well as the International Financial Reporting Standards (IFRSs), International Accounting Standards (IAS), law and regulation reviews and their announcements recognized and announced by the Financial Supervisory Commission in all material aspects, and are considered to have reasonably expressed the consolidated financial conditions of Aurora Corporation and its subsidiaries as of December 31, 2023 and 2022, as well as the consolidated financial performance and consolidated cash flows from January 1 to December 31, 2023 and 2022.

Basis for Opinions

We conducted our audit in accordance with the Regulations Governing Auditing and Attestation of Financial statements by Certified Public Accountants and auditing standards. 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 Aurora Corporation and its subsidiaries in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China ("The Norm"), and we have fulfilled our other ethical responsibilities in accordance with the Norm. 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 Consolidated Financial Statements of Aurora Corporation and its subsidiaries for the year ended December 31, 2023. These matters were addressed in the context of our audit of the Consolidated Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Key audit matters for the Consolidated Financial Statements of Aurora Corporation and its subsidiaries for the year ended December 31, 2023 are stated as follows:

Sales revenue

The main businesses of Aurora Corporation and its subsidiaries include the trade and lease of MultiFunctional Photocopiers (MFPs) and sales of system furniture. Printers and income from sales of system furniture in Taiwan, in particular, are material in nature for the overall financial statements. The main risk lies in whether revenue actually occurs. Accordingly, we identify the risk of revenue recognition arising from fraud as a key audit matter in accordance with the Statements on Auditing Standards in relation to significant risk.

For the accounting policies related to revenue recognition, please refer to Note IV (XIV).

We understood and tested the effectiveness of the design and implementation of internal controls

in the recognition of sales revenue. We have also selected appropriate samples from the sales details, reviewed the original contracts, documents and customs declaration forms from external forwarders or signed by customers to check whether the recipients are the trading parties, and reviewed whether there is a significant amount of return and allowance subsequent to the balance sheet date to confirm whether there is any material misstatement of sales revenue.

Other Matters

We have also audited the Parent Company Only Financial Statements of Aurora Corporation for the years ended December 31, 2023 and 2022, on which we have issued an unqualified opinion.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

To ensure that the Consolidated Financial Statements do not contain material misstatements caused by fraud or errors, the management is responsible for preparing prudent Consolidated Financial Statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, as well as the IFRS, IAS, law and regulation reviews and their announcements recognized and announced by the Financial Supervisory Commission, and for preparing and maintaining necessary internal control procedures pertaining to the Consolidated Financial Statements.

In preparing the Consolidated Financial Statements, the management is responsible for assessing Aurora Corporation and its subsidiaries' ability to continue as a going concern, disclosing, as applicable, matters related to the going concern and using the going concern basis of accounting unless the management either intends to liquidate Aurora Corporation and its subsidiaries or to cease operations, or has no realistic alternative but to do so.

Those charged with governance (including the Audit Committee) are responsible for overseeing Aurora Corporation and its subsidiaries' 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 misstatements, 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 and audit conducted in accordance with the accounting principles in 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 financial statements.

As part of an audit in accordance with the accounting principles in the Republic of China, we exercise professional judgment and professional skepticism. We also:

Identify and evaluate the risk of material misstatements due to fraud or error in the Consolidated Financial Statements; design and carry out appropriate countermeasures for the evaluated risk; and obtain sufficient and appropriate evidence as the basis for thour audit 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.
Obtain an understanding of internal controls 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 internal controls of Aurora Corporation and its subsidiaries.

Assess the appropriateness of the accounting policies adopted by the management, as well as the reasonableness of their accounting estimates and relevant disclosures.
Conclude on the appropriateness of the 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 Aurora Corporation and its subsidiaries' ability to operate 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 Aurora Corporation and its subsidiaries to cease to continue as a going concern.
Evaluate the overall expression, structure and contents of the Consolidated Financial Statements (including relevant Notes), and whether the Consolidated Financial Statements fairly present relevant transactions and items.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within Aurora Corporation and its subsidiaries to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision, and performance of the audit and for expressing an opinion on the Consolidated Financial Statements of Aurora Corporation and its subsidiaries.

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.

From the matters communicated with those charged with governance, we determine the key audit matters of Aurora Corporation and its subsidiaries' Consolidated Financial Statements for the year ended December 31, 2023. 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.

Deloitte & Touche

Huang Hai-Yueh, CPA Chi Rui-Chuan, CPA

Securities and Futures Commission Approval No. Tai-Cai-Zheng-6 No. 0920131587

Financial Supervisory Commission Approval No. Jin-Guan-Zheng-Shen No. 1060023872

March 15, 2024

Aurora Corporation and Subsidiaries Consolidated Balance Sheets December 31, 2023 and 2022 (In Thousands of New Taiwan Dollars)

Code 1100 1110 1136 1150 1170 1180 1200 1220 130X 1479 11XX 1550 1560 1600 1755 1760 1805 1821 1840 1920 1980 1990 15XX 1XXX Code 2100 2110 2130 2170 2200 2230 2280 2300 21XX 2540 2570 2580 2630 2640 2645 25XX 2XXX 3110 3200 3310 3320 3350 3300 3400 3500 31XX 36XX 3XXX	Assets Current Assets Cash (NotesVI) Financial assets at fair value through profit or loss - current (Notes IV and VII ) Financial assets at amortized cost - current (Notes IV, VIII and XXXIII) Notes receivable (Notes IV and X) Accounts receivable (Notes IV and X) Accounts receivable - related parties (Notes IV, X and XXXII) Other receivables (Notes IV, X, and XXXII) Current tax assets (Notes IV and XXVI) Inventories (Notes IV and XI) Other current assets (Note XVIII) Total current assets Non-current assets Investments accounted for using the equity method (Notes IV and XIII) Contract assets - non-current (Notes IV and XXIV) Property, plant, and equipment (Notes IV, XIV, XXXII, and XXXIII) Right-of-use assets (Notes IV, XV, and XXXII) Investment properties (Notes IV, XVI, and XXXIII) Goodwill (Notes IV and XVII) Other intangible assets (Notes IV and XVII) Deferred tax assets (Notes IV and XXVI) Refundable deposits (Note XXXII) Other financial assets - non-current (Notes IX and XXXIII) Other non-current assets (Note XVIII) Total non-current assets Total assets Liabilities and Equity Current Liabilities Short-term loans (Note XIX) Short-term notes and bills payable (Note XIX) Contract liabilities - current (Notes IV and XXIV) Accounts payable (Note XX and XXXII ) Other payables (Notes XXI and XXXII) Current tax liabilities (Notes IV and XXVI) Lease liabilities - current (Notes IV, XV, and XXXII) Other current liabilities (Note XXI) Total current liabilities Non-current liabilities Long-term loans (Note XIX) Deferred income tax liabilities (Notes IV and XXVI) Lease liabilities - non-current (Notes IV, XV, and XXXII) Long-term deferred revenue (Notes XXVIII) Net defined benefit liabilities - non-current (Notes IV and XXII) Guarantee deposits received (Note XXXII) Total non-current liabilities Total liabilities Equity attributable to owners of the Company (Note XXIII) Capital Stock Capital stock - common shares Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Treasury shares Total equity attributable to owners of the Company Non-controlling Interests Total equity Total liabilities and equity		December 31, 2023	December 31, 2023	% 15 1 22 1 5 1 - - 7 2 54 17 1 17 4 3 1 - 1 1 - 1 46 100 10 - 2 6 5 1 2 - 26 19 2 2 - 2 - 25 51 13 10 12 5 6 23 1) 4) 41 8 49 100		December 31, 2022	December 31, 2022
			Amount $ 2,723,584 97,510 3,858,355 148,257 867,112 135,865 54,099 48,347 1,265,110 446,235 9,644,474 3,081,538 113,141 2,986,388 797,217 510,618 133,020 50,417 176,670 164,877 28,173 252,982 8,295,041 $ 17,939,515 $ 1,832,173 - 285,797 1,006,437 995,916 135,456 284,138 97,769 4,637,686 3,417,319 267,603 410,659 27,260 410,644 60,247 4,593,732 9,231,418 2,362,025 1,875,002 2,148,615 852,220 1,176,930 4,177,765 237,619) 791,826) 7,385,347 1,322,750 8,708,097 $ 17,939,515				Amount $ 2,219,983 63,953 4,316,941 205,586 1,049,732 154,855 49,580 93,574 1,796,514 316,483 10,267,201 3,092,505 120,794 2,763,328 794,326 520,856 132,947 58,083 183,740 165,953 42,432 121,758 7,996,722 $ 18,263,923 $ 1,509,000 1,049,579 415,415 1,018,111 1,077,942 161,889 312,871 75,533 5,620,340 2,552,734 321,448 374,241 - 441,734 69,413 3,759,570 9,379,910 2,362,025 1,821,477 2,017,211 852,220 1,328,641 4,198,072 76,302) 791,826) 7,513,446 1,370,567 8,884,013 $ 18,263,923		%
		( (		( (		( (		( (	12 - 24 1 6 1 - - 10 2 56 17 1 15 4 3 1 - 1 1 - 1 44 100 8 6 2 6 6 1 2 - 31 14 2 2 - 2 - 20 51 13 10 11 5 7 23 1) 4) 41 8 49 100

Chairman: Yuan Hui-Hua

The accompanying notes are an integral part of the Consolidated Financial Statements. General Manager: Chou Ming-Chung Principal Accounting Officer: Lin Ya-Ling

Aurora Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income For the Years Ended December 31, 2023 and 2022

(In Thousands of New Taiwan Dollars, Except New Taiwan Dollar for Earnings Per Share)

Code Operating revenue (Notes IV, XXIV, and XXXII) 4110 Sales revenue 4170 Sales returns 4190 Sales discounts and allowances 4000 Total operating revenue 5000 Operating costs (Notes IV, XI, XXV, and XXXII) 5900 Gross profit 5910 Realized gains from sales of associates 5950 Realized gross profit Operating expenses (Notes IV, X, XXV, and XXXII) 6100 Selling and marketing expenses 6200 General and administrative expenses 6450 Expected credit losses (gains) 6000 Total operating expenses 6900 Net operating income Non-operating income and expenses (Notes IV, VII, XIII, XXV, and XXXII) 7100 Interest income 7190 Other income		2023		% 100 - - 100 54 46 - 46 22 15 - 37 9 1 2		2022
		Amount $ 11,551,774 13,742 4,700 11,533,332 6,213,223 5,320,109 11,755 5,331,864 2,606,248 1,698,270 4,189) 4,300,329 1,031,535 130,632 161,878				Amount $ 12,596,436 13,463 6,648 12,576,325 7,031,430 5,544,895 30,389 5,575,284 2,741,965 1,588,315 22,522 4,352,802 1,222,482 164,310 179,967		%
	(							100 - - 100 56 44 - 44 22 12 - 34 10 1 2

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Code 7590 Other gains and losses 7050 Finance costs 7060 Share of profit or loss associates accounted for using the equity method 7000 Total non-operating income and expenses 7900 Net income before tax 7950 Income tax expense (Notes IV and XXVI) 8200 Net income Other comprehensive income 8310 Components that will not be reclassified to profit or loss (Notes IV, XXII, and XXVI) 8311 Gains (losses) on re- measurements of defined benefit plans 8320 Share of other comprehensive income of associates accounted for using the equity method 8349 Income tax related to components that will not be reclassified to profit or loss 8360 Components that may be reclassified to profit or loss (Notes IV) 8361 Exchange differences on translation of financial statements of foreign operations 8370 Share of other comprehensive income of associates accounted for using the equity method		2023		% - 1 ) 2 4 13 3 10 - - - - 1 ) - 1)		2022
		Amount $ 12,820 91,903 ) 237,542 450,969 1,482,504 308,215 1,174,289 733 ) 20,801 ) 146 21,388) 148,319 ) 12,129) 160,448)				Amount $ 42,218 71,964 ) 273,185 587,716 1,810,198 388,571 1,421,627 23,357 193,793 ) 4,671) 175,107) 135,027 8,983 144,010		%
	( ( ( ( ( ( (		( ( (		( ( ( (		( ( (	- 1 ) 2 4 14 3 11 - 1 ) - 1) 1 - 1

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Code 8300 Other comprehensive income, net 8500 Total comprehensive income Net Income Attributable to: 8610 Owners of the Company 8620 Non-controlling Interests 8600 Total comprehensive income attributable to: 8710 Owners of the Company 8720 Non-controlling Interests 8700 Earnings per share (Note XXVII) 9710 Basic 9810 Diluted		2023		% 1) 9 9 1 10 8 1 9		2022
		Amount 181,836) $ 992,453 $ 1,091,507 82,782 $ 1,174,289 $ 928,528 63,925 $ 992,453 $ 4.86 $ 4.85				Amount 31,097) $ 1,390,530 $ 1,309,368 112,259 $ 1,421,627 $ 1,263,976 126,554 $ 1,390,530 $ 5.82 $ 5.82		%
	(		(		(			- 11 10 1 11 10 1 11

The accompanying notes are an integral part of the Consolidated Financial Statements.

Chairman: Yuan Hui-Hua

General Manager: Chou Ming-Chung

Principal Accounting Officer: Lin Ya-Ling

Aurora Corporation and Subsidiaries Consolidated Statements of Changes in Equity For the Years Ended December 31, 2023 and 2022

(In Thousands of New Taiwan Dollars)

Capital Stock	Capital surplus $ 1,939,269 - - ( 188,962 ) 1,621 - - - 68,330 1,219 - - $ 1,821,477 - - - - - 53,525 - $ 1,875,002		Retained earnings	Retained earnings			Other equity	Other equity	Other equity	Treasury shares	Treasury shares	Total Equity Attributable to Owners of the Company	Total Equity Attributable to Owners of the Company	Non-controlling Interests	Non-controlling Interests		Total Equity
							Exchange differences on translation of financial statements of foreign operations	Unrealized gains or losses on financial assets at fair value through other comprehensive income
		Legal Reserve $ 1,880,146 137,065 - - - - - - - - - - $ 2,017,211 131,404 - - - - - - $ 2,148,615	Special Reserve		Unappropriated earnings
$ 2,362,025 - - - - - - - - - - - $ 2,362,025 - - - - - - - $ 2,362,025	(			$ 852,220 - - - - - - - - - - - $ 852,220 - - - - - - - $ 852,220	$ 1,379,923 ( 137,065 ) ( 1,228,253 ) - - 1,309,368 22,525 1,331,893 - - ( 17,857 ) - $ 1,328,641 ( 131,404 ) ( 1,110,152 ) 1,091,507 ( 1,662) 1,089,845 - - $ 1,176,930	( $ 682,175 ) - - - - - 127,963 127,963 - - - - ($ 554,212) - - - ( 142,040) ( 142,040) - - ($ 696,252)		( (	$ 655,933 - - - - - 195,880) 195,880) - - 17,857 - $ 477,910 - - - ( 19,277) ( 19,277) - - $ 458,633 (	( (	$ 791,826 ) - - - - - - - - - - - $ 791,826) - - ( - - ( - - - 791,826)	( ( (	$ 7,595,515 - 1,228,253 ) 188,962 ) 1,621 1,309,368 45,392) 1,263,976 68,330 1,219 - - $ 7,513,446 - 1,110,152 ) 1,091,507 162,979) ( 928,528 53,525 - ( 7,385,347	(	$ 1,331,119 - - - 157 112,259 14,295 126,554 6,651 2,480 - 96,394) $ 1,370,567 - - ( 82,782 18,857) ( 63,925 5,210 116,952) ( 1,322,750	( ( ( (	$ 8,926,634 - 1,228,253 ) 188,962 ) 1,778 1,421,627 31,097) 1,390,530 74,981 3,699 - 96,394) $ 8,884,013 - 1,110,152 ) 1,174,289 181,836) 992,453 58,735 116,952) 8,708,097
									( (


										$		$		$		$

Chairman: Yuan Hui-Hua

The accompanying notes are an integral part of the Consolidated Financial Statements. General Manager: Chou Ming-Chung

Principal Accounting Officer: Lin Ya-Ling

Aurora Corporation and Subsidiaries Consolidated Statements of Cash Flows For the Years Ended December 31, 2023 and 2022 (In Thousands of New Taiwan Dollars)

Code Cash flows from operating activities A00010 Net income before tax A20010 Profit or Less Items: A20100 Depreciation expenses A20200 Amortization expenses A20300 Expected credit losses( reversal) A20400 Net gain on financial assets at fair value through profit or loss A20900 Finance costs A21200 Interest income A22300 Profit and loss share of associated enterprises using the equity method A22500 Loss on disposal of property, plant, and equipment A22800 Loss on disposal of intangible assets A29900 Impairment loss of associated enterprises using the equity method on disposal of intangible assets A23900 Realized gains from associates A29900 Gains on lease modifications A30000 Net change in operating assets and liabilities A31130 Notes receivable A31150 Accounts receivable A31160 Accounts receivable - related parties A31180 Other receivables A31200 Inventories A31240 Other current assets A31125 Contract assets A32150 Accounts payable A32180 Other payables A32210 Deferred revenue A32230 Other current liabilities A32240 Net defined benefit liabilities A33000 Cash generated from operations A33300 Interest paid A33500 Income tax paid AAAA Net cash flows generated from operating activities	2023 $ 1,482,504 799,402 25,095 ( 4,189 ) ( 45,375 ) 91,903 ( 130,632 ) ( 237,542 ) 11,740 37 10,946 ( 11,755 ) ( 1,267 ) 57,329 187,523 18,990 ( 4,257 ) 216,996 ( 129,752 ) 7,653 ( 11,674 ) ( 82,774 ) 27,260 ( 107,382 ) ( 31,823) 2,138,956 ( 90,683 ) ( 336,050) 1,712,223	2022
		$ 1,810,198 838,539 23,983 22,522 ( 33,696 ) 71,964 ( 164,310 ) ( 273,185 ) 2,673 235 - ( 30,389 ) ( 778 ) ( 8,269 ) 94,908 ( 57,069 ) 139,941 ( 389,258 ) ( 36,795 ) ( 37,318 ) ( 333,754 ) ( 168,972 ) - ( 67,397 ) ( 23,247) 1,380,526 ( 71,705 ) ( 509,157) 799,664

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Code B01800 Cash flows from investing activities Aquisition long-term equity investment using equity method B00040 Purchase of financial assets at amortized cost B00050 Disposal of financial assets measured at amortized cost B00100 Purchase of financial assets at fair value through profit or loss B00200 Disposal of financial assets measured at fair value through profit or loss B02700 Payments for property, plant and equipment B02800 Proceeds from disposal of property, plant and equipment B03700 Increase in refundable deposits B03800 Decrease in refundable deposits B04500 Payments for intangible assets B04600 Droceeds of disposal of intangible assets B06800 Increase in other non-current assets B07500 Interest received B07600 Dividends received BBBB Net cash inflows (outflows) from investing activities Cash flows from financing activities C00100 Increase in short-term loans C00200 Decrease in short-term loans C00500 Increase in short-term notes and bills payable C00600 Decrease in short-term notes and bills payable C01600 Application for long-term borrowings C03100 Decrease in guarantee deposits received C04020 Repayment of the principal portion of lease liabilities C04500 Cash dividends paid C05800 Changes in non-controlling interests CCCC Net cash flows used in financing activities DDDD Effects of exchange rate changes on the balance of cash equivalents EEEE Net increase (decrease) in cash E00100 Cash at beginning of period E00200 Cash at end of period		2023 $ 10,336 ) 1,054,873 ) 1,488,945 9,755,552 ) 9,767,370 361,159 ) 6,888 - 1,076 18,248 ) - 116,965 ) 81,386 236,423 264,955 323,173 - - 1,049,579 ) 864,585 9,166 ) 383,401 ) 1,168,841 ) - 1,423,229) 50,348) 503,601 2,219,983 $ 2,723,584		2022
	( ( ( ( ( ( ( ( ( ( ( (		( ( ( ( ( ( ( ( ( ( ( ( (	$ - 18,339 ) - 7,000,055 ) 7,046,448 456,678 ) 2,745 13,588 ) - 19,364 ) 29 54,818 ) 118,168 224,755 170,697) - 1,847,812 ) 1,049,579 - 1,422,734 5,674 ) 401,495 ) 1,438,628 ) 3,699 1,217,597) 114,760 473,870 ) 2,693,853 $ 2,219,983

The accompanying notes are an integral part of the Consolidated Financial Statements.

Chairman: Yuan Hui-Hua General Manager: Chou Ming-Chung Principal Accounting Officer: Lin Ya-Ling

Aurora Corporation and Subsidiaries

Notes to Consolidated Financial Statements

For the Years Ended December 31, 2023 and 2022

(Amount in Thousands of New Taiwan Dollars, Unless Specified Otherwise)

1. Company History

Aurora Corporation (the Company; the Company and entities controlled by the Company collectively referred to as the "Group") was founded in Taipei in October 1965. The main businesses of the Company include the trade, lease, and repair of Multi-Functional Photocopiers (MFPs) and computer equipment and the sales of system furniture.

The Company's shares have been listed on the Taiwan Stock Exchange since August 1991.

The Consolidated Financial Statements are presented in the New Taiwan dollar, the Company's functional currency.

2. Date of Authorization for Issuance of the Consolidated Financial Statements and Procedures for Authorization

The Consolidated Financial Statements have been approved by the Board of Directors on March 14, 2024.

3. Application of New and Amended Standards and Interpretations

a. Initial application of the latest Regulations Governing the Preparation of Financial Reports by Securities Issuers, as well as the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), International Financial Reporting Interpretations Committee (IFRIC), and Standard Interpretations Committee (SIC) (the "IFRSs") endorsed and issued into effect by the Financial Supervisory Commission (the "FSC").

The application of the latest Regulations Governing the Preparation of Financial Reports by Securities Issuers and the IFRSs endorsed and issued into effect by the FSC should not result in major changes in the accounting policies of the Group.

b. FSC-endorsed IFRS that are applicable from 2023 onward

Effective Date of Issuance New/Revised/Amended Standards and Interpretations by the IASB (Note 1) Amendment to IFRS 16 "Lease Liabilities for Sale and January 1, 2024 (Note 2) Leaseback" Amendments to IAS 1 "Classify Liabilities as Current or January 1, 2024 Non-current" Amendment to IAS 1 “Non-current liabilities with contract January 1, 2024 terms and conditions" Amendments to IAS 7 and IFRS 7 regarding “Supplier January 1, 2024 (Note 3) Finance Arrangements”

Note 1. Unless otherwise specified, the aforementioned New/Amended/Revised Standards and Interpretations shall be effective for the annual reporting period after the specified dates.
Note 2. The seller and lessee shall retroactively apply the amendments to IFRS 16 for sale and leaseback transactions signed after the initial date of application of IFRS 16.
Note 3. Certain requirements on the disclosure may be exempted at the time of the Company's first application of the amendments.

As of the date the consolidated financial statements were approved for issue, the consolidated company evaluated that the amendments to the other standards and interpretations would not pose significant impact on the consolidated financial position and consolidated financial performance.

c. IFRS accounting standards issued by the IASB but not yet endorsed and issued into effect by the FSC

RS accounting standards issued by the IASB but not yet the FSC	endorsed and issued into eff
New, Revised or Amended Standards and Interpretations Amendment to IFRS 10 and IAS 28 “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture” IFRS 17 “Insurance Contracts” Amendment to IFRS 17 Amendment to IFRS 17 “Initial Application of IFRS 9 and IFRS 17 – Comparative Information” Amendments to IAS No. 21 "Lack of Exchangeability	Effective Date Issued by IASB (Note1)
	To be determined January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2025 (Note 2)

Note 1. Unless stated otherwise, the above new IFRSs are effective for annual reporting periods beginning on or after their respective effective dates.
Note 2. Applicable for annual reporting periods beginning on or after January 1, 2025. When the amendment is first applied, the impact will be recognized in retained earnings as of the initial application date. When the consolidated company adopts the non-functional currency as the presentation currency, the effects are adjusted into the exchange differences on translation of foreign financial statements under the equity title on the date of the first-time application.

As of the date the consolidated financial statements were authorized for issue, the consolidated company is continuously assessing the possible impact that the application of other standards and interpretations will have on the consolidated financial position and consolidated financial performance and will disclose the relevant impact when the assessment is completed.

4. Summary of Significant Accounting Policies

a. Compliance declaration

The Consolidated Financial Statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the IFRS accounting standard endorsed and issued into effect by the FSC.

b. Preparation basis

The Consolidated Financial Statements have been prepared on a historical cost basis, except for financial instruments measured at fair value and net defined benefit liabilities recognized at the present value of defined benefit obligations less fair value of plan assets.

The fair value measurement is classified into three levels based on the observability and importance of related input:

1) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities on the measurement date.
2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. deduced from prices).
3) Level 3 inputs are unobservable inputs for the asset or liability.
c. Standards for assets and liabilities classified as current and non-current

Current assets include:

1) Assets held primarily for trading purposes;
2) Assets expected to be realized within 12 months after the balance sheet date; and
3) Cash (excluding assets restricted from being exchanged or used to settle a liability for at least 12 months after the balance sheet date).

Current liabilities include:

1) Liabilities held primarily for trading purposes;
2) Liabilities with settlement within 12 months after the balance sheet date; and
3) Liabilities with a repayment schedule that cannot be unconditionally deferred till at least 12 months after the publication of the balance sheet.

All other assets or liabilities that are not specified above are classified as non-current.

d. Basis of consolidation

The Consolidated Financial Statements include the financial statements of the Company and entities controlled by the Company (i.e., subsidiaries). The financial statements of the subsidiaries have been adjusted to bring their accounting policies in line with those used by the Group. All intergroup transactions, balances, income and expenses are eliminated in full upon consolidation. A subsidiary's total comprehensive income is attributed to the owners of the Company and non-controlling interests, even if non-controlling interests become having deficit balances in the process.

When the change in the Group’s company's ownership interest in the subsidiary does not result in a loss of control, it is treated as an equity transaction. The carrying amounts of the Group and non-controlling interests have been adjusted to reflect changes in their relative interests in subsidiaries. The difference between the adjustment amount of non-controlling interests and the fair value of the consideration paid or received is directly recognized as equity and attributed to the owners of the Company.

Please refer to Notes XII and XXXVII (Tables 6 and 7) for details, shareholding ratio, and business activities of subsidiaries.

e. Foreign currencies

In the preparation of each individual financial statements, transactions denominated in a currency other than the entity’s functional currency (i.e., foreign currency) are translated into the entity's functional currency by using the exchange rate at the date of the transaction before they are recorded by each entity.

Monetary items denominated in foreign currencies are translated at the closing rates on the balance sheet date. Exchange differences arising from settlement or translation of monetary items are recognized in profit or loss in the year in which they arise.

Non-monetary items measured at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. The resulting exchange difference is recognized in profit or loss. For items whose changes in fair value are recognized in other comprehensive income, the resulting exchange difference is recognized in other comprehensive income.

Non-monetary items measured at historical cost that are denominated in foreign currencies are translated at the rates of exchange prevailing on the transaction dates and are not retranslated.

In the preparation of the consolidated financial statements, the assets and liabilities of foreign operations (including subsidiaries and affiliated enterprises that operate in a country or currency different from the Company) are translated into the New Taiwan dollar at the closing rate of exchange prevailing on the balance sheet date. Income and expenses are translated at the average rate of the year. The exchange differences arising are recognized in other comprehensive income (and are attributable to owners of the Company and noncontrolling interests respectively).

f. Inventories

Inventories comprise office automation products, office supplies, computer equipment, system furniture, raw materials, and work in process. Inventory costs are calculated using the weighted average method. Inventories are measured at the lower of cost and net realizable value. The comparison between costs and net realizable values is based on individual items except for the same type of inventory. The net realizable value is the estimated selling price in the ordinary course of business less the estimated cost of completion and the estimated cost necessary to make the sale.

g. Investments in associates

An associate is an entity over which the Group has significant influence other than a subsidiary or a joint venture.

The Group accounts for investments in associates by using the equity method.

Under the equity method, investments are initially treated at cost and adjusted thereafter for the post-acquisition change in the Group's interest in profit or loss, share in other comprehensive income, and profits of associates. In addition, equity changes in associates are recognized based on the shareholding ratio.

Any excess of the cost of acquisition over the Group’s share of the net fair value of the identifiable assets, and liabilities of associates recognized at the date of acquisition is recognized as goodwill, which is included in the carrying amount of the investment and may not be amortized. Any excess of the Group’s share of the net fair value of the identifiable assets and liabilities over the cost of acquisition is recognized as profit or loss in the current year.

When associates issue new shares and the Group does not subscribe to such shares to the extent that its original shareholding ratio can be changed, the difference is recorded as an adjustment to capital surplus - changes in the net value of shares in associates accounted for using the equity method and other investments accounted for using the equity method. If the amount of ownership interests in associates is not subscribed for or obtained in proportion to the shareholding ratio, the amount of the related assets or liabilities shall be recognized in other comprehensive income. The basis of the accounting treatment is the same as that of the associates. The difference in the balance of the capital reserve accounted for using the equity method shall be recognized in retained earnings.

To assess impairment, the Group has to consider the overall carrying amount (including goodwill) of the investment as a single asset to compare the recoverable and carrying amounts. The cost of impairment identified is to be deemed as part of the carrying amount of the investment. Reversal of the impairment loss is recognized to the extent of subsequent increases in the recoverable amount of investment.

Profits and losses in upstream, downstream and side-stream transactions between the Group and associates and between the Group are recognized in the consolidated financial statements only when the profits and losses are irrelevant to the Group's interests in the associates.

h. Property, plant, and equipment

Property, plant, and equipment shall be recognized at cost and subsequently at cost less accumulated depreciation.

Each significant part of property, plant, and equipment is separately depreciated over its useful life on a straight-line basis. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

When property, plant, and equipment is derecognized, the difference between the net disposal proceeds and the carrying amount of the asset shall be recognized in profit or loss.

i. Investment property

Investment property is real estate held for rent or capital appreciation or both.

Investment property owned by the Group is measured initially at cost (including transaction costs) and subsequently at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis.

j. Goodwill

The value of goodwill received through business combinations has to be shown as the amount of goodwill recognized on the acquisition date and subsequently evaluated as cost less accumulated impairment loss.

To evaluate impairment, goodwill is distributed among various cash-generating units or cash-generating unit groups ("cash-generating units") which the Group expects to benefit by business combinations.

The cash-generating units that are allocated goodwill will compare the unit's carrying amount and its recoverable amount including goodwill every year (and whenever there are signs of impairment) to evaluate the impairment of the unit. If the goodwill is obtained by the cash-generating units through a business combination in the current year, an impairment test is to be conducted prior to the end of the current year. If the recoverable amount of the cash-generating units is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating units and then to the other assets of the unit on a pro rata basis based on the carrying amount of each asset in the unit. Impairment loss is considered as loss in the current year. The impairment loss of goodwill shall not be reversed in subsequent periods.

k. Intangible assets
1) Separate acquisition

Intangible assets with a limited useful life will be evaluated initially at cost and subsequently at cost less accumulated amortization. Intangible assets will be amortized using the straight-line method within the useful life. The Group will review the estimated useful life, residual value, and depreciation methods at the end of each year at least once a year to deduce the effect of the changes in accounting estimates.

2) Derecognition

When intangible assets are derecognized, the difference between the net disposal proceeds and the carrying amount of the asset shall be recognized in profit or loss of the current year.

l. Impairment of property, plant, and equipment as well as right-of-use assets, investment property, and intangible assets (excluding goodwill)

On each balance sheet date, the Group reviews the carrying amounts of its property, plant, and equipment as well as right-of-use assets, investment property and intangible assets (excluding goodwill) to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The recoverable amount is the fair value minus cost of sales or its value in use, whichever is higher. If the recoverable amount of individual asset or the cash-generating unit is lower than its carrying amount, the carrying amount of the asset or the cash-generating unit shall be reduced to the recoverable amount and the impairment loss shall be recognized in profit or loss.

When the impairment loss is subsequently reversed, the carrying amount of the asset or the cash-generating unit will be reduced to the extent of recoverable amount prior to revision, provided the increased carrying amount does not exceed the carrying amount (minus amortization or depreciation) of the asset or of the cash-generating unit not declared as impairment loss in the previous years. A reversal of an impairment loss is recognized immediately in profit or loss.

m. Financial instruments

Financial assets and liabilities will be recognized in the consolidated balance sheets when the Group becomes a party to the contract of the financial instrument.

When showing the original financial assets and liabilities, if their fair value was not assessed based on profit or loss, it is the fair value plus the cost of transaction, that is, of its acquisition or issuance of the financial assets or financial liabilities. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.

1) Financial assets

Regular trading of financial assets shall be recognized and derecognized in accordance with trade date accounting.

a) Types of measurement

Financial assets held by the Group are classified as financial assets at fair value through profit or loss, financial assets at amortized cost, and investments in equity instruments at fair value through other comprehensive income.

i. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss include financial assets at fair value through profit or loss that are required to be measured at fair value and financial assets that are designated as at fair value through profit or loss. Financial assets at fair value through profit or loss that are required to be measured at fair value include equity instrument investments not designated as at fair value through other comprehensive income or loss and debt instrument investments that do not qualify under the classification of investments measured at amortized cost or at fair value through other comprehensive income.

Financial assets measured at fair value through profit or loss are measured at fair value, with dividends, interest and remeasurement gains or losses recognized in other gains and losses. Please refer to Note XXXI for the method of determining fair value.

ii. Financial assets at amortized cost

When the Group's investments in financial assets satisfy the following two conditions simultaneously, they are classified as financial assets at amortized cost:

i) Financial assets are under a business model whose purpose is to hold financial assets and collecting contractual cash flows; and
ii) The terms of the contract generate a cash flow on a specified date that is solely for the payment of interest on the principal and the amount of principal outstanding.

After initial recognition, financial assets measured at amortized cost are measured at amortized cost, which equals to gross carrying amount determined by the effective rate method less any impairment loss. Any foreign exchange gains or losses, on the other hand, are recognized under gains or losses.

Except for the following two circumstances, interest income is calculated at the value of effective interest rate times the gross carrying amount of financial assets:

i) For purchased or originated credit-impaired financial assets, interest income is calculated by applying the credit-adjusted effective interest rate times the amortized cost of the financial assets.
ii) For financial assets that are not acquired or originated credit-impaired but subsequently become credit-impaired, interest income is calculated by applying the effective interest rate times the amortized cost balance of such financial assets from the next reporting period after the impairment.
iii. Investments in equity instruments at fair value through other comprehensive income

The Group may, at initial recognition, make an irrevocable decision to designate an equity instrument that is neither held for trading nor contingent consideration arising from a business combination to be measured at fair value through other comprehensive income.

Investments in equity instruments at fair value through other comprehensive income are measured at fair value, and any subsequent fair value changes are recognized in other comprehensive income and accumulated in other equity. When the investment is disposed of, the cumulative profit or loss is directly transferred to retained earnings and not reclassified to profit or loss.

Dividends of investments in equity instruments at fair value through other comprehensive income are recognized in profit or loss when the Group's right to receive payment is confirmed unless such dividends clearly represent the recovery of a part of the investment cost.

b) Impairment of financial assets

The impairment loss of financial assets at amortized cost is measured by the Group on the balance sheet date based on the expected credit losses.

Allowances shall be appropriated for accounts receivable for expected credit losses for the duration of their existence. A loss allowance for the 12-month expected credit losses is required for a financial asset if its credit risk has not increased significantly since initial recognition. A loss allowance for full lifetime expected credit losses is required for a financial asset if its credit risk has increased significantly since initial recognition.

The expected credit loss is the weighted average credit loss determined by the risk of default. The 12-month expected credit losses represent the expected credit losses arising from the possible default of the financial instrument in the 12 months after the balance sheet date, and the expected credit losses during the lifetime represent the expected credit losses arising from all possible defaults of the financial instrument during the expected existence period.

For the purpose of internal credit risk management, under the premise that the collateral held is not under consideration, the Group determines that there is internal or external information indicating that the debtor cannot settle the debt, which represents that the financial assets have breached the contract.

The impairment loss of all financial assets is reduced based on the allowance account.

c) Derecognition of financial assets

The Group derecognizes the financial assets when the contractual rights to the cash flow from the said financial assets expire or when the Group transfers almost all the risks and rewards of ownership of the financial assets to other enterprises.

On derecognition of a financial asset measured at amortized cost, the difference between the asset's carrying amount and the sum of the consideration received is recognized in profit or loss. Through the full derecognition of the investments in equity instruments at fair value through other comprehensive income, the cumulative profit or loss is directly transferred to retained earnings and not reclassified to profit or loss.

2) Financial liabilities
a) Subsequent measurement

Financial liabilities are assessed at amortized cost using the effective interest method.

b) Derecognition of financial liabilities

When financial liabilities are derecognized, the difference between their carrying amount and the paid consideration (including any transferred non-cash assets or liabilities assumed) shall be recognized in profit or loss.

n. Revenue recognition

After the Group identifies its performance obligations in contracts with customers, it shall amortize the transaction costs to each obligation in the contract and recognize revenue upon satisfaction of performance obligations.

1) Sales revenue of commodities

Sales revenue of commodities comes from the sale of Multi-Functional Photocopiers (MFPs) and fax machines. When MFPs and fax machines are shipped to the locations designated by the customers, the customers have already obtained the rights to establish the price and usage of the commodities and are primarily liable for the resale of the commodities. The customers shall undertake the related obsolescence risk and the Group will recognize revenue and accounts receivable at that time. The expected payments to be collected from the sale of commodities are recognized as contract liabilities before customers use the said amusement tickets.

2) Service revenue

Service revenue is derived from the maintenance services of the equipment. Relevant revenue is recognized when services are rendered.

o. Leases

The Group assesses whether the contract is (or includes) a lease on the date of its establishment.

1) Where the Group is a lessor:

Under operating leases, lease payments after deducting lease incentives are recognized as revenue on a straight-line basis over the relevant lease term.

2) Where the Group is a lessee:

Except that the lease payments of the low value subject-matter assets and short-term leases applicable to recognition exemption are recognized as expenses on a straight-line basis during the lease period, other leases are recognized as right-of-use assets and lease liabilities on the lease commencement date.

The right-of-use asset is initially measured at cost (including the original measured amount of the lease liability), and subsequently measured at cost minus the accumulated depreciation and the accumulated impairment loss and adjusted for the remeasurement of the lease liability. The right-of-use assets are separately expressed in the consolidated balance sheets.

The right-of-use assets shall be depreciated on a straight-line basis from lease commencement date to the end of the useful life or the end of the lease term.

Lease liabilities are initially measured at the present value of lease payments (including fixed payments). If the implicit interest rate of lease is easy to determine, the interest rate is used to discount the lease payment. If the interest rate is not easy to determine, the lessee's incremental borrowing rate shall be used.

Subsequently, the lease liability is measured on the basis of amortized cost using the effective interest method, and the interest expense is apportioned during the lease period. If the assessments on lease terms, amounts expected to be paid under residual value guarantees and purchase option of the underlying assets; or changes in the index or rate which determines the lease payments result in changes in future lease payments, the Group would remeasure the lease liabilities with a corresponding adjustment on the right-of-use assets. However, if the carrying amount of right-of-use assets has been reduced to zero, the remaining remeasurement amount is recognized in profit or loss. With regard to changes in leases that are not considered separate leases, the remeasurement of lease liabilities as a result of the decrease in the scope of the lease refers to the reduction in right-of-use assets, with the recognition of the gains or losses on partial or complete termination of the lease. The remeasurement of lease liabilities as a result of other amendments refers to the adjustment in right-of-use assets. Lease liabilities are presented separately in the consolidated balance sheets.

p. Benefits after retirement

Payments to defined contribution retirement benefit plans are recognized as an expense when employees have rendered service entitling them to the contributions.

The costs of defined benefits under the defined benefit pension plan (including service cost, net interest, and the remeasurement amount) are calculated based on the projected unit credit method. The cost of services (including the cost of services of the current and previous periods) and the net interest of the net defined benefit liabilities are recognized as employee benefit expenses. The remeasurement amount (including actuarial gains and losses (assets) and the return on plan assets after deducting interest) is recognized in other comprehensive income and presented in retained earnings when it occurs or when the plan is revised or reduced. It shall not be reclassified to profit or loss in subsequent periods.

Net defined benefit liabilities are the deficit of the contribution made according to the defined benefit pension plan.

q. Income Tax

Income tax expenses are the sum of the current tax and deferred income tax.

1) Current Income tax

The Group determines the income (loss) of the current year in accordance with the laws and regulations in each income tax declaration jurisdiction, and calculates the income tax payable (recoverable) accordingly.

A tax is levied on the unappropriated earnings pursuant to the Income Tax Act of the Republic of China and is recorded as an income tax expense in the year when the shareholders' meeting resolves to appropriate the earnings.

Adjustments to prior year income taxes are shown in the taxes of the current year.

2) Deferred income tax

Deferred income tax is calculated based on the temporary difference between the carrying amount of the assets and liabilities and the taxable basis of the taxable income. Deferred income tax liabilities are generally recognized for all taxable temporary differences and deferred income tax assets are recognized when there are likely taxable income for the deducting temporary differences.

Deferred income tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and affiliated enterprises, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. For deductible

temporary differences associated with such investment and equity, when it is probable that sufficient taxable income will be available to realize such temporary difference, a deferred tax asset is recognized, but only to the extent of the amount that is expected to be reversed in the foreseeable future.

The carrying amount of the deferred income tax assets is re-examined at each balance sheet date and the carrying amount is reduced for assets that are no longer likely to generate sufficient taxable income to recover all or part of the assets.

Deferred income tax assets and liabilities are measured at the tax rate of the period of expected repayment of liabilities or realization of assets. The rate is based on the tax rate and tax laws that have been enacted prior to the balance sheet date or have been substantially legislated. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

3) Current and deferred income taxes

Current income tax and deferred income tax are recognized in profit or loss except for those related to items recognized in other comprehensive income that shall be recognized in other comprehensive income.

5. Primary Sources of Uncertainties in Material Accounting Judgments, Estimates, and Assumptions

When the Group adopts accounting policies, the management must make judgments, estimates, and assumptions based on historical experience and other critical factors for related information that are not readily available from other sources. Actual results may differ from these estimates.

When developing significant accounting estimates, the Group will take into account possible impacts on cash flow estimates, growth rates, discount rates, profitability and other related major estimates. Management will continue to review estimates and basic assumptions.

After reviewing the accounting policies, estimates, and assumptions adopted by the Group, the management found no material uncertainties.

6. Cash

Cash
Cash on hand and working capital Checks and demand deposits in banks	December 31, 2023 $ 3,195 2,720,389 $ 2,723,584	December 31, 2022
			$ 3,325 2,216,658 $ 2,219,983

7. Financial Instruments at Fair Value through Profit or Loss

Financial assets-current Mandatorily measured at fair value through profit or loss Non-derivative financial assets `－`Fund beneficiary certificates	December 31, 2023 $ 97,510	December 31, 2022	December 31, 2022
			$ 63,953

a. For the years ended December 31, 2023 and 2022, net income from financial assets at fair value through profit or loss were and NT$45,375 thousand and NT$33,696 thousand, respectively.
b. For securities held by the Group as of December 31, 2023, please refer to Note XXXVII (Table 2).

8. Financial Assets at Amortized Cost - Current

Financial Assets at Amortized Cost- Current
Time deposits with original maturity over 3 months	December 31, 2023 $ 3,858,355	December 31, 2022
			$ 4,316,941

Interest rate ranges for time deposits with original maturity over 3 months December 31, 2023 and 2022 as of are as follows:

and 2022 as of are as follows:
RMB	December 31, 2023 2.00%`～`3.91%	December 31, 2022
		2.68%`～`4.18%

For securities held by the Group as of December 31, 2023, please refer to Note XXXVI I (Table 2).

9. Other Financial Assets - Non-current

December 31, 2023 Restricted bank deposits $ 28,173 Notes Receivables, Accounts Receivables, and Other Receivables December 31, 2023 Notes receivable Measured at amortized cost Total carrying amount $ 148,257 Less: loss allowance - $ 148,257 Accounts receivable Measured at amortized cost Total carrying amount $ 896,257 Less: loss allowance ( 29,145) $ 867,112 Accounts receivable-related parties Measured at amortized cost Total carrying amount $ 135,865 Less: loss allowance - $ 135,865	December 31, 2023 Restricted bank deposits $ 28,173 Notes Receivables, Accounts Receivables, and Other Receivables December 31, 2023 Notes receivable Measured at amortized cost Total carrying amount $ 148,257 Less: loss allowance - $ 148,257 Accounts receivable Measured at amortized cost Total carrying amount $ 896,257 Less: loss allowance ( 29,145) $ 867,112 Accounts receivable-related parties Measured at amortized cost Total carrying amount $ 135,865 Less: loss allowance - $ 135,865	December 31, 2022	December 31, 2022
		$ 42,432 December 31, 2022
Notes receivable Measured at amortized cost Total carrying amount Less: loss allowance Accounts receivable Measured at amortized cost Total carrying amount Less: loss allowance Accounts receivable-related parties Measured at amortized cost Total carrying amount Less: loss allowance
	(	(	$ 205,586 - $ 205,586 $ 1,097,136 47,404) $ 1,049,732 $ 154,855 - $ 154,855

10. Notes Receivables, Accounts Receivables, and Other Receivables

Other receivables Related parties Interest receivable Others Overdue receivables Overdue receivables Less: loss allowance (	$ 10,744 2 $ 54,099 $ 18,361 18,361) ( $ -	$ 10,648 73 $ 49,580 $ 10,008 10,008) $ -

Accounts receivable

The Group's credit period for commodity sales averages 60~90 days. To minimize credit risk, the management of the Group has delegated a team responsible for taking other monitoring measures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual receivable on the balance sheet date to ensure that adequate allowances are made for possible irrecoverable amounts. As such, the Group's management concludes that the credit risk has been significantly reduced.

The Group recognizes loss allowances for accounts receivables based on the lifetime expected credit losses. The lifetime expected credit losses are calculated based on a provision matrix that takes into account the default history and current financial position of customers, as well as the GDP forecast. Due to the historical experience of credit losses of the Group, there is no significant difference in the loss patterns of different customer groups. Therefore, the provision matrix does not further distinguish the customer base, and only sets the expected credit loss rate based on the overdue days of accounts receivable.

The Group writes off accounts receivable when there is information indicating that the debtor is experiencing severe financial difficulty and there is no realistic prospect of recovery of the receivables. For accounts receivable that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables due. Where recoveries are made, they are recognized in profit or loss.

Loss allowances for accounts receivable based on the provision matrix are as follows:

December 31, 2023

December 31, 2023
Expected credit loss rate Total carrying amount Allowance for loss (expected credit losses during the period) Amortized cost	Not Past Due 0.34%~4.38% $ 700,842 ( 3,732) $ 697,110	1 to 90 Days Past Due 1.00%~100% $ 114,367 ( 8,049) $ 106,318	More than 91 Days Past Due	(	Total
		(	21.42%~100% $ 81,048 ( 17,364) $ 63,684		$ 896,257 29,145) $ 867,112

December 31, 2022

December 31, 2022
						More than 91
			1	to 90 Days		Days Past
	Not	Past Due		Past Due			Due			Total
Expected credit loss rate	0.60%~3.03%		1.00%~94.78%			10.33%~100%
Total carrying amount	$	807,456	$		206,372	$	83,308			$ 1,097,136
Allowance for loss (expected
credit losses during the period)(		7,036)	(		30,702)	(	9,666)		(	47,404)
Amortized cost	$	800,420	$		175,670	$	73,642			$ 1,049,732
Changes in loss allowances for receivables (accounts receivable and							overdue receivables) are as
follows:
					2023					2022
Beginning balance					$ 57,412				$	46,392
Add (Less): (Reversal of) Impairment
loss in the current period				(	4,189 )					22,522
Less: Write-off in the current year				(	5,003 )			(		11,968 )
Exchange difference				(	714 )					466
Ending balance					$ 47,506				$	57,412

Changes in loss allowances for receivables (accounts receivable and overdue receivables) are as follows:

11. Inventories

Inventories
Commodities Office automation products, office supplies, and computer equipment System furniture Raw materials Work in process Goods in Transit	December 31, 2023 $ 728,973 400,835 102,751 23,998 8,553 $ 1,265,110	December 31, 2022
			$ 1,173,758 474,565 120,393 22,219 5,579 $ 1,796,514

The costs of goods sold related to inventories for the years ended December 31, 2023 and 2022 were NT$5,973,876 thousand and NT$6,795,219 thousand, respectively. Operating costs, including inventory write-down, for the years ended December 31, 2023 and 2022 were NT$4,562 thousand and NT$10,417 thousand, respectively.

12. Subsidiaries

a. Subsidiaries included in the consolidated financial statements

The entities involved in the preparation of the Consolidated Financial Statements are listed as follows:

Name of Investor	Name ofSubsidiary	Place of Establishment	Percentage o	f Ownership	Main BusinessActivities	Functional Currency
			December 31,2023	December 31,2022
The Company General Integration Aurora (Bermuda)	Aurora (Bermuda) Investment Ltd. (Aurora (Bermuda)) Aurora Office Automation Corporation (Aurora Office Automation) General Integration Technology Co., Ltd. (General Integration) KM Developing Solutions Co., Ltd. (KM Developing) Aurora Machinery Equipment (Shanghai) Co., Ltd. (Aurora Machinery Equipment) (Notes 1) Ever Young Biodimension Corporation (Ever Young Biodimension) (Note 2) Ever Young Biodimension (Note 2) Aurora Machinery Equipment (Note 1) Aurora (China) Investment Co., Ltd. (Aurora (China) Investment)	Bermuda Taiwan Taiwan Taiwan Mainland China Taiwan Taiwan Mainland China Mainland China	88.04% 91.13% 55.00% 70.00% 70.00% 26.00% 25.00% 30.00% 100.00%	88.04% 91.13% 55.00% 70.00% 70.00% 26.00% 25.00% 30.00% 100.00%	A holding company. The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross-strait movements. Import/export and wholesale of Multi-Functional Photocopiers (MFPs). The main operating risks are exchange rate risks. Manufacturing of molds and machinery and wholesale of precision instruments. The main operating risks are exchange rate risks. Wholesale and retail of information software, computer equipment, and Multi-Functional Photocopiers (MFPs). The main operating risks are exchange rate risks. Wholesale of mechanical and electronic equipment, ICT equipment, and computer hardware and software. The main operating risks are political risks and exchange rate risks arising from government orders and cross-strait movements. Wholesale of precision instruments. The main operating risks are interest risks. Wholesale of precision instruments. The main operating risks are interest risks. Wholesale of mechanical and electronic equipment, ICT equipment, and computer hardware and software. The main operating risks are political risks and exchange rate risks arising from government orders and cross-strait movements. A holding company. The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross-strait movements.	RMB NTD NTD NTD RMB NTD NTD RMB RMB

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Name of Investor	Name ofSubsidiary	Place of Establishment	Percentage o	f Ownership	Main BusinessActivities	Functional Currency
			December 31,2023	December 31,2022
Aurora (China) Investment Aurora (China)	Aurora Office Equipment Co., Ltd. (Shanghai) (Aurora Office Equipment) Aurora (China) Co., Ltd. (Aurora (China)) Aurora (Jiang Su) Enterprise Development Co., Ltd. (Aurora (Jiang Su)) (Note 3) Aurora Office Automation Sales Co., Ltd. Shanghai Aurora (Shanghai) Cloud Technology Co., Ltd. (Aurora Cloud) (Note 4) Aurora Home Furniture Co., Ltd. (Aurora Home) Aurora (Shanghai) Electronic Commerce Co., Ltd. (Aurora Electronic Commerce) (Note 5) Aurora (Jiang Su) Enterprise Development Co., Ltd. (Aurora (Jiang Su)) (Note 3)	Mainland China Mainland China Mainland China Mainland China Mainland China Mainland China Mainland China Mainland China	100.00% 100.00% 50.00% 100.00% 100.00% 100.00% 70.00% -	100.00% 100.00% 50.00% 100.00% 70.00% 100.00% 70.00% 50.00%	Manufacturing and sales of Multi Functional Photocopiers (MFPs). The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross-strait movements. Manufacture and sales of office furniture.. The main operating risks are political risks and exchange rate risks arising from government orders and cross-strait movements. A holding company and property lease. The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross- strait movements. Sales, lease, and agency of Aurora brand products The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross-strait movements. Sale and consulting service of printing and office equipment and furniture and consulting service. The main operating risks are political risks and exchange rate risks arising from government orders and cross-strait movements. Manufacturing and sales of furniture. The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross- strait movements. E-commerce platform sales. The main operating risks are political risks and exchange rate risks arising from government orders and cross-strait movements. A holding company and property lease. The main operating risks of Aurora (Bermuda) and its subsidiaries are political risks and exchange rate risks arising from government orders and cross- strait movements.	RMB RMB RMB RMB RMB RMB RMB RMB

Note 1. The financial statements of Aurora Machinery Equipment were not audited by the CPAs; however, the management of the Group believed that this fact would not cause any significant difference.
Note 2. The Company's shareholding in Ever Young Biodimension is 26%, and General Integration holds 25% of Ever Young Biodimension's shares, totaling over 50% of the voting rights of Ever Young Biodimension. As the Group has control over Ever Young Biodimension, it is classified as a subsidiary.
Note 3. Aurora (China) Co., Ltd, a subsidiary of the company, passed a resolution of the board of directors on April 10, 2023, to sell the entire equity of Aurora (Jiang Su) to Aurora (China) Investment for RMB 100,000 thousand.
Note 4. Aurora (China) Investment, a subsidiary of the company, passed the resolution of the board of directors on April 11, 2023, to increase the capital of Aurora (Jiang Su) by RMB 100,000 thousand. As of December 31, 2023, it was still in progress.
Note 5. Aurora China acquired 30% of non-controlling interests in Aurora Cloud with CNY678 thousand (NTD3,012 thousand) in June 2022. The $1,219 thousand as the difference between the transfer consideration and the net worth of acquired equities is recognized under capital reserve - difference between the stock options in subsidiaries actually obtained or disposed of and the book value.
Note 6. Aurora (China) E-commerce Co., Ltd. increased its capital size by RMB5,000 thousand (NTD22,295 thousand) in September 2022, including RMB 3,500 from Aurora (China) Co., Ltd. and RMB 1,500 from Aurora International Building

(Shanghai) Co., Ltd. The paid-in capital size of Aurora (Shanghai) E-commerce Co, Ltd. after the capital increase had come to RMB 10,000 thousand.

Please refer to Note XXXVII (Tables 6 and 7) for information on the main business premises and countries of registration.

b. Subsidiaries not included in the consolidated financial statements: None.
c. Information on subsidiaries with material non-controlling interests

Ltd. after the capital increase had come to RMB 10,000 thousand. Please refer to Note XXXVII (Tables 6 and 7) for information on the main business premises and countries of registration. Subsidiaries not included in the consolidated financial statements: None. Information on subsidiaries with material non-controlling interests	Ltd. after the capital increase had come to RMB 10,000 thousand. Please refer to Note XXXVII (Tables 6 and 7) for information on the main business premises and countries of registration. Subsidiaries not included in the consolidated financial statements: None. Information on subsidiaries with material non-controlling interests	ome to RMB 10,000 thousand. ) for information on the main business premises d financial statements: None. n-controlling interests	ome to RMB 10,000 thousand. ) for information on the main business premises d financial statements: None. n-controlling interests	ome to RMB 10,000 thousand. ) for information on the main business premises d financial statements: None. n-controlling interests	ome to RMB 10,000 thousand. ) for information on the main business premises d financial statements: None. n-controlling interests
Percentage of Shares and Voting Rights Held by Non-controlling Interests Name of Subsidiary December 31, 2023 December 31, 2022 Aurora (Bermuda) and its subsidiaries 11.96% 11.96% Aurora Office Automation 8.87% 8.87% Profit or Loss Allocated to Non- controlling Interests Non-controlling Interests Name of Subsidiary 2023 2022 December 31, 2023 December 31, 2022 Aurora (Bermuda) and its subsidiaries (excluding non- controlling interests of its subsidiaries) $ 46,853 $ 79,038 $1,000,018 $1,049,721 Aurora Office Automation 23,670 26,018 189,502 192,561		Percentage of Shares and Voting Rights Held by Non-controlling Interests
				December 31, 2022
Aurora (Bermuda) and its subsidiaries Aurora Office Automation Name of Subsidiary Aurora (Bermuda) and its subsidiaries (excluding non- controlling interests of its subsidiaries) Aurora Office Automation
	2023 $ 46,853 23,670		December 31, 2023 $1,000,018 189,502		December 31, 2022
					$1,049,721 192,561

The summarized financial information of the following subsidiaries is prepared according to the amount before the write-off of intercompany transactions:

Aurora (Bermuda) and its subsidiaries

Aurora (Bermuda) and its subsidiaries
Current Assets Non-current assets Current Liabilities Non-current liabilities Equity Equity attributable to: Owners of the Company Non-controlling interests of Aurora (Bermuda) Non-controlling interests of Aurora (Bermuda)'s subsidiaries (Continued on the next page)	December 31, 2023 $ 8,028,595 2,890,137 ( 1,607,809 ) ( 940,663) $ 8,370,260 $ 7,361,336 1,000,018 8,906 $ 8,370,260	December 31, 2022
		$ 8,602,884 2,743,931 ( 2,009,069 ) ( 550,365) $ 8,787,381 $ 7,727,207 1,049,721 10,453 $ 8,787,381

(Continued from previous page)

Operating revenue Net income Other comprehensive income Total comprehensive income Net Income Attributable to: Owners of the Company Non-controlling interests of Aurora (Bermuda) Non-controlling interests of Aurora (Bermuda)'s subsidiaries Total Comprehensive Income Attributable to: Owners of the Company Non-controlling interests of Aurora (Bermuda) Non-controlling interests of Aurora (Bermuda)'s subsidiaries Cash flows from: Operating activities Investing activities Financing activities Net cash inflow (outflow) Dividends paid to non-controlling interests Aurora (Bermuda)		2023 $ 7,091,461 $ 390,373 157,378) $ 232,995 $ 344,896 46,853 1,376) $ 390,373 2023 $ 206,492 28,051 1,548) $ 232,995 $ 914,437 87,798 475,817) $ 526,418 $ 77,754		2022
	( (			$ 8,180,807 $ 661,955 124,680 $ 786,635 $ 581,815 79,038 1,102 $ 661,955 2022
	( (		$ 691,555 93,946 1,134 $ 786,635 $ 278,764 ( 234,304 ) ( 570,403) ($ 525,943) $ 56,050

Aurora Office Automation Current Assets Non-current assets Current Liabilities Non-current liabilities Equity Equity attributable to: Owners of the Company Non-controlling interests of Aurora Office Automation Operating revenue Net income Other comprehensive income Total comprehensive income Net Income Attributable to: Owners of the Company Non-controlling interests of Aurora Office Automation Total comprehensive income attributable to: Owners of the Company Non-controlling interests of Aurora Office Automation Cash flows from: Operating activities Investing activities Financing activities Net cash inflow (outflow) Dividends paid to non-controlling interests Aurora Office Automation	December 31, 2023 $ 512,724 2,546,173 ( 251,812 ) ( 670,643) $ 2,136,442 $ 1,946,940 189,502 $ 2,136,442 2023 $ 860,723 $ 266,852 ( 21,434) $ 245,418 $ 243,182 23,670 $ 266,852 $ 223,649 21,769 $ 245,418 $ 172,346 92,638 ( 302,492) ($ 37,508) ($ 24,827)	December 31, 2022	December 31, 2022
		$ 543,816 2,556,709 ( 446,948 ) ( 482,653) $ 2,170,924 $ 1,978,363 192,561 $ 2,170,924 2022
	( ( ( (	(	$ 851,627 $ 293,330 140,240 $ 433,570 $ 267,312 26,018 $ 293,330 $ 395,112 38,458 $ 433,570 $ 196,819 108,807 224,767) $ 80,859 $ 24,037

13. Investments Accounted for Using the Equity Method

a. Investments in associates

Investments in associates
Significant associates Listed companies Huxen Corporation Individually insignificant associates Unlisted companies Aurora Development Corp. Huxen (China) Co., Ltd. Aurora Telecom Co., Ltd. Chongqing Gonggangzhihui Additive Manufacturing Technology Research Institute Co., Ltd.	December 31, 2023 $ 1,703,888 472,883 715,861 188,906 - $ 3,081,538	December 31, 2022
			$ 1,740,573 468,162 686,077 194,440 3,253 $ 3,092,505

The percentage of ownership, equities, and voting rights of the Group in associates on the balance sheet date are as follows:

balance sheet date are as follows:
Name of Company Huxen Corporation Aurora Development Corp. Huxen (China) Co., Ltd. Aurora Telecom Co., Ltd. Chongqing Gonggangzhihui Additive Manufacturing Technology Research Institute Co., Ltd.	December 31, 2023 40.26% 46.67% 30.00% 30.40% 29.41%	December 31, 2022
		40.26% 46.67% 30.00% 30.40% 20.00%

Please refer to Note XXXVII (Tables 6 and 7) for the aforementioned associates' nature of business, main business premises, and countries of registration.

In 2023, the Group acquired 9.41% equity of Chongqing Gonggang Zhihui Additive Manufacturing Technology Research Institute Co., Ltd., which was indirectly held by the local government, for NTD 10,336,000 thousand (RMB 2,353,000 thousand). After the acquisition, the Group held 29.41% of the shares. At the end of 2023, after evaluation by the management of the Group, impairment losses on the investment were fully recognized, and impairment losses of NTD 10,946,000 thousand (RMB 2,491,000 thousand) were recognized and included in the account under other benefits and losses (Note XXV).

The share of profits and losses and other comprehensive profits and losses enjoyed by investment and Group that adopt the equity method are calculated based on financial reports that have not been audited by accountants, except for Aurora Telecom Co., Ltd., which is calculated based on financial reports that have not been audited by accountants. The management of the merged company believes that if the financial reports of the above-

mentioned related companies are audited by accountants, there will be no significant adjustments.

Fair values (Level 1) of investments in associates with open market quotations are summarized as follows:

summarized as follows:
Name of Company Huxen Corporation	December 31, 2023 $ 3,042,846	December 31, 2022
			$ 2,801,397

All the aforementioned associates are accounted for using the equity method.

The summary of financial information below is based on individual associates’ financial statements prepared in accordance with the IFRS for which adjustments have been made in the Consolidated Financial Statements due to the use of the equity method.

Huxen Corporation

Huxen Corporation
Current Assets Non-current assets Current Liabilities Non-current liabilities Equity Percentage of shares held by the Group Interests of the Group Unrealized gains (losses) on transactions with investees Unrealized gains (losses) on transactions between investees Goodwill Investment carrying amount Operating revenue Net income Other comprehensive income Total comprehensive income Dividends received from the associate	December 31, 2023 $ 1,194,534 4,784,917 ( 872,888 ) (1,271,596) $ 3,834,967 40.26% $ 1,543,958 ( 87,679 ) ( 135,586 ) 383,195 $ 1,703,888 2023 $ 1,429,198 $ 490,289 ( 90,364) $ 399,925 $ 209,450	December 31, 2022
		$ 1,242,354 4,780,558 ( 1,159,863 ) ( 907,821) $ 3,955,228 40.26% $ 1,592,374 ( 83,536 ) ( 151,482 ) 383,217 $ 1,740,573 2022
	(	(	$ 1,415,637 $ 561,175 326,072) $ 235,103 $ 203,632

Information on individually insignificant associates is summarized below:

The Group's share of: Net income	2023 $ 40,152	2022
		$ 47,256

Other comprehensive income Total comprehensive income Dividends received from the associate	13,161 ( $ 53,313 $ 26,973	43,970) $ 3,286 $ 21,123

b. Share of profit or loss and other comprehensive income of associates accounted for using the equity method are as follows
1) Share of profit (loss) of associates accounted for using the equity method:

Huxen Corporation Aurora Development Corp. Huxen (China) Co., Ltd. Aurora Telecom Co., Ltd. Chongqing Gonggangzhihui Additive Manufacturing Technology Research Institute Co., Ltd.	2023 Profit or Loss of Investee Investment Profit or Loss Recognized by the Group $ 490,289 $ 197,390 61,209 28,243 66,914 20,074 ( 18,204 ) ( 5,534 ) ( 13,155 ) ( 2,631) $ 237,542	2023 Profit or Loss of Investee Investment Profit or Loss Recognized by the Group $ 490,289 $ 197,390 61,209 28,243 66,914 20,074 ( 18,204 ) ( 5,534 ) ( 13,155 ) ( 2,631) $ 237,542	2022	2022	2022
	Profit or Loss of Investee $ 490,289 61,209 66,914 ( 18,204 ) ( 13,155 )		Profit or Loss of Investee $ 561,175 102,093 75,404 ( 64,555 ) ( 18,550 )	Investment Profit or Loss Recognized by the Group
		( (		( (	$ 225,929 47,970 22,621 19,625 ) 3,710) $ 273,185

2) Share of other comprehensive income of associates accounted for using the equity method:

method:
Huxen Corporation Aurora Development Corp. Huxen (China) Co., Ltd.	2023 Other Comprehensive Income of Investee Other Comprehensive Income Recognized by the Group ( $ 90,363 ) ( $ 36,380 ) 7,394 3,451 32,368 9,710 ($ 23,219)		2022
	Other Comprehensive Income of Investee ( $ 90,363 ) 7,394 32,368		Other Comprehensive Income of Investee ( $ 326,072 ) ( 114,706 ) 31,876	Other Comprehensive Income Recognized by the Group
		( (		( ( (	$ 131,276 ) 53,533 ) 9,563 $ 175,246)

14. Property, plant, and equipment

Property, plant, and equipment
For self-use Operating lease	December 31, 2023 $ 2,499,585 486,803 $ 2,986,388	December 31, 2022
			$ 2,337,334 425,994 $ 2,763,328

a. For self-use

For self-use
Cost Balance as of January 1, 2023 Addition Inventories transferred to property, plant, and equipment Property, plant, and equipment transferred to inventories Disposal and obsolescence Transfer of investment real estate Reclassifications (Note) Conversion adjustment Balance as of December 31, 2023 Accumulated depreciation Balance as of January 1, 2023 Depreciation expenses Property, plant, and equipment transferred to inventories Disposal and obsolescence Re-listed as investment-oriented real estate properties Conversion adjustment Balance as of December 31, 2023 Net amount as of December 31, 2023 Cost Balance as of January 1, 2022 Addition Inventories transferred to property, plant, and equipment Property, plant, and equipment transferred to inventories Disposal and obsolescence Transfer of investment real estate Reclassifications (Note) Conversion adjustment Balance as of December 31, 2022 Accumulated depreciation Balance as of January 1, 2022 Depreciation expenses Property, plant, and equipment transferred to inventories Disposal and obsolescence Re-listed as investment-oriented real estate properties Conversion adjustment Balance as of December 31, 2022 Net amount as of December 31, 2022		Self-owned Land $ 572,586 - - - - - - 572,586 - - - - - - - $ 572,586 $ 621,068 29,387 - - - 77,869 ) - - 572,586 - - - - - - - $ 572,586		Housing and Construction $ 1,575,681 20,646 - - 7,276 ) 10,082 538,266 33,479 ) 2,103,920 1,196,080 77,095 - 5,902 ) 4,415 20,520 ) 1,251,168 $ 852,752 $ 1,560,096 6,634 - - 6,049 ) 4,908 ) - 19,908 1,575,681 1,113,690 74,599 - 6,049 ) 467 ) 14,307 1,196,080 $ 379,601		Machinery $ 717,473 41,658 - - 79,235 ) - 109,343 13,206 ) 776,033 557,349 43,250 - 58,532 ) - 9,366 ) 532,701 $ 243,332 $ 689,824 25,549 - - 17,423 ) - 10,405 9,118 717,473 521,915 43,779 - 15,409 ) - 7,064 557,349 $ 160,124	Transportation Equipment $ 33,122 6,433 - - ( 1,800 ) - - ( 659 ) 37,096 28,942 1,454 - ( 1,770 ) - ( 523 ) 28,103 $ 8,993 $ 33,010 252 - - ( 611 ) - - 471 33,122 27,998 1,146 - ( 603 ) - 401 28,942 $ 4,180		Office Equipment		Construction in Process $ 1,135,186 264,183 - - - - 653,780 ) 14,963 ) 730,626 - - - - - - - $ 730,626 $ 749,099 376,234 - - - - - 9,853 1,135,186 - - - - - - - $ 1,135,186		Total
	(		( (		( (		( (	( ( (	$ 530,470 28,239 17,836 7,204 ) 78,646 ) - 6,171 6,528 ) 490,338 444,813 50,380 6,718 ) 83,207 ) - 6,226 ) 399,042 $ 91,296 $ 554,266 18,622 25,879 21,015 ) 53,055 ) - - 5,773 530,470 433,052 74,659 17,717 ) 50,077 ) - 4,896 444,813 $ 85,657	( (		( ( (	$ 4,564,518 361,159 17,836 7,204 ) 166,957 ) 10,082 - 68,835 )
			( (		( (		( (	( ( (				( ( (	4,710,599 2,227,184 172,179 6,718 ) 149,411 ) 4,415 36,635 )
			( ( ( (		( (		( (	( ( ( (				( ( ( ( ( (	2,211,014 $ 2,499,585 $ 4,207,363 456,678 25,879 21,015 ) 77,138 ) 82,777 ) 10,405 45,123 4,564,518 2,096,655 194,183 17,717 ) 72,138 ) 467 ) 26,668 2,227,184 $ 2,337,334

Note: The Group did not re-categorize pre-paid equipment that had been accepted as properties, plants and equipment until August 2023.

No indication of impairment was identified in 2023 and 2022.

Depreciation expenses are calculated on a straight-line basis according to the following durable years:

durable years:
Housing and Construction
Warehouses	20 years
Plants and buildings	20~55 years
Mechanical and electrical engineering	25~30 years
Housing improvements	10~34 years
Machinery	2~16 years

Transportation Equipment Office Equipment

4~5 years 1~15 year(s)

b. Operating leases - office equipment

Operating leases - office equipment
Cost Beginning balance Inventories transferred to property, plant, and equipment Property, plant, and equipment transferred to inventories Disposal and obsolescence Effect of exchange rate changes Ending balance Accumulated depreciation Beginning balance Depreciation expenses Property, plant, and equipment transferred to inventories Disposal and obsolescence Effect of exchange rate changes Ending balance Ending net amount	2023 $ 1,353,668 310,695 ( 68,995 ) ( 170,297 ) ( 72 ) 1,424,999 927,674 235,160 ( 55,358 ) ( 169,215 ) ( 65) 938,196 $ 486,803	2022
		$ 1,308,300 240,324 ( 88,851 ) ( 106,164 ) 59 1,353,668 875,088 230,991 ( 72,711 ) ( 105,746 ) 52 927,674 $ 425,994

For the Group's MFPs through operating leases, the lease period is 1 to 6 year(s). Lessees do not have preferential rights to acquire the MFPs at the expiration of the lease period.

The total lease payments (excluding revenue from printing services) to be received in the future for operating leases are as follows:

future for operating leases are as follows:
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6	December 31, 2023 $ 53,556 36,469 25,427 16,793 9,537 225 $ 142,007	December 31, 2022
			$ 44,914 26,230 15,277 8,526 3,007 235 $ 98,189

Depreciation expenses are calculated on a straight-line basis according to the following durable years:

Leased assets (MFPs)

Used MFPs 1~2 year(s) New MFPs 3~5 years

c. For the amount of properties, plants, and equipment pledged as collaterals for borrowings, refer to Note XXXIII.

15. Lease Agreements

a. Right-of-use assets

	2023
Land and Buildings $ 1,251,287 440,426 ( 372,764 ) ( 16,928) 1,302,021 471,463 369,648 ( 311,037 ) ( 7,107) 522,967 $ 779,054	Transportation Equipment $ 41,739 21,695 ( 27,915 ) - 35,519 27,237 17,844 ( 27,725 ) - 17,356 $ 18,163 2022	Total
		$ 1,293,026 462,121 ( 400,679 ) ( 16,928) 1,337,540 498,700 387,492 ( 338,762 ) ( 7,107) 540,323 $ 797,217
	Transportation Equipment $ 46,102 9,557 ( 13,920 ) - 41,739 24,706 16,240 ( 13,709 ) - 27,237 $ 14,502		Total
		$ 1,284,138 600,524 ( 605,073 ) 13,437 1,293,026 602,517 408,499 ( 519,186 ) 6,870 498,700 $ 794,326

b. Lease liabilities

Lease liabilities
Carrying amount of lease liabilities Current Non-current	December 31, 2023 $ 284,138 $ 410,659	December 31, 2022
			$ 312,871 $ 374,241

Ranges of discount rates for lease liabilities are as follows:

Ranges of discount rates for lease liabilities	are as follows:
Land and Buildings Transportation Equipment	December 31, 2023 0.653%~4.745% 0.653%~1.640%	December 31, 2022
		0.691%~5.005% 0.691%~0.862%

c. Major lease activities and terms

The Group leases land, buildings, and transportation equipment for operations, and the lease term is between 1 to 23 year(s). When the lease term ends, the Group has no preferential rights to purchase the leased vehicles and business premises.

In May 2020, Aurora (Jiang Su), a subsidiary of the Group, acquired the land use right of Nantong City, Jiangsu Province for the construction of the plant. The term of use of the land is 50 years from May 2020 to May 2070 as stipulated in the contract.

d. Other lease information

For agreements on operating leases for the leasing out of property, plant, and equipment and investment property, please refer to Notes XIV and XVI.

investment property, please refer to Notes	XIV and	XVI.
		2023		2022
Short-term lease expenses	($	4,126)	($	3,351)
Total cash flows on lease
- Repayment of lease liabilities	( $	383,401 )	( $	401,495 )
- Interest expenses paid	(	17,533)	(	21,408)
	($	400,934)	($	422,903)

The Group selects to apply the recognition exemptions to leases of parking spaces that qualify as short-term leases and cloud service platforms that qualify as leases of low-value assets. Consequently, the Group does not recognize any right-of-use assets or lease liabilities for the said leases.

16. Investment property

Investment property
Cost Beginning balance Disposal and obsolescence Reclassifications Ending balance Accumulated depreciation Beginning balance Depreciation expenses Disposal and obsolescence Reclassifications Ending balance Ending net amount	2023	Total $ 616,301 ( 21,021 ) ( 10,082) 585,198 95,445 4,571 ( 21,021 ) ( 4,415) 74,580 $ 510,618		2022
	Land Housing and Construction $ 445,309 $ 170,992 - ( 21,021 ) - ( 10,082) 445,309 139,889 - 95,445 - 4,571 - ( 21,021 ) - ( 4,415) - 74,580 $ 445,309 $ 65,309		Land $ 367,440 - 77,869 445,309 - - - - - $ 445,309	Housing and Construction Total $ 166,273 $ 533,713 ( 189 ) ( 189 ) 4,908 82,777 170,992 616,301 90,301 90,301 4,866 4,866 ( 189 ) ( 189 ) 467 467 95,445 95,445 $ 75,547 $ 520,856

The investment property is subject to a lease term of 2 to 5 years. Lessees have no preferential right to purchase the investment property at the end of the lease term.

The total amount of lease payments to be collected in the future for investment property on operating lease is as follows:

operating lease is as follows:
Year 1 Year 2 Year 3 Year 4 Year 5	December 31, 2023 $ 19,098 19,212 10,136 5,714 2,857 $ 57,017	December 31, 2022 $ 16,469 13,608 13,608 4,536 - $ 48,221
			$ 16,469 13,608 13,608 4,536 - $ 48,221

Depreciation expenses are calculated on a straight-line basis according to the following durable years:

s:
Main buildings	20~55 years
Decoration	5~10 years

For the amount of investment property pledged as collateral, please refer to Note XXXZZZ.

The fair value of the investment property was assessed by the management with reference to the prevailing market information as follows:

prevailing market information as follows:
Fair value	December 31, 2023 $ 758,020	December 31, 2022 $ 671,683
			$ 671,683

17. Intangible assets

December 31, 2023 December 31, 2022

a. Goodwill

Carrying amount Goodwill	$ 133,020	$ 132,947

No indication of impairment of goodwill was identified in 2023 and 2022.

b. Other intangible assets

Cost Beginning balance Addition Disposal and obsolescence Conversion adjustment Ending balance Accumulated amortization Beginning balance Amortization expenses Disposal and obsolescence Conversion adjustment Ending balance Ending net amount			2023				2022
			Computer Software $ 139,619 18,248 ( 17,687 ) ( 2,158 ) 138,022 81,536 25,095 ( 17,650 ) ( 1,376 ) 87,605 $ 50,417	Total		Trademark right	Computer Software	Total
				$ 140,427 18,248 ( 18,495 ) ( 2,158 ) 138,022 82,344 25,095 ( 18,458 ) ( 1,376 ) 87,605 $ 50,417		$ 808 - - - 808 808 - - - 808 $ -	$ 135,645 19,364 ( 16,974 ) 1,584 139,619 73,431 23,983 ( 16,710 ) 832 81,536 $ 58,083	$ 136,453 19,364 ( 16,974 ) 1,584 140,427 74,239 23,983 ( 16,710 ) 832 82,344 $ 58,083

No indication of impairment of assets above was identified in 2023 and 2022.

Amortization expenses are calculated on a straight-line basis over the following useful lives:

Trademark right 20 years Computer Software 1~10 year(s)

18. Other Assets

Other Assets
Prepayments for goods Prepayments for premises Other prepayments Prepayments for equipment Others	December 31, 2023 $ 252,552 65,100 50,548 183,665 147,352 $ 699,217	December 31, 2022 $ 257,074 66,318 49,354 50,986 14,509 $ 438,241
			$ 257,074 66,318 49,354 50,986 14,509 $ 438,241

Current Non-current	$ 446,235 252,982 $ 699,217	$ 316,483 121,758 $ 438,241

19. Loans

Loans
a. Short-term loans Credit loans Loans for material purchase Credit loans: NTD Loans for material purchase: USD	December 31, 2023 $ 1,826,000 6,173 $ 1,832,173 1.55%~2.41% 1.65%~1.68%	December 31, 2022
		$ 1,509,000 - $ 1,509,000 1.335%~2.29% -

1) Please refer to Note XXXIII for assets pledged as collateral for the above-mentioned loans.
2) Please refer to Note XXXIV (II) for guaranteed notes issued to financial institutions.
b. Short-term notes and bills payable

The outstanding short-term bills payable as of the balance sheet date are as follows:

December 31, 2022

Nominal Amount		Discounted Amount
$ 150,000 300,000 150,000 450,000 $ 1,050,000	( ( ( ( (	$
		$

c. Long-term loans

1) Loans are secured by pledge of land and buildings held by the Group (see Note XXXIII), with interest accruing at floating rates and the remaining maturity period of not more than 2 years as of December 31, 2023 and 2022. The rate ranges were 1.53%~4.00% and 1.54% ~4% per annum, respectively. Interest is paid on a monthly basis, and the principal is paid at maturity for subsequent borrowing.
2) Unsecured loans are bank loans at floating rates. As of December 31, 2023 and 2022, the rate ranges were 1.53%~1.67% and 1.48%~1.66% per annum, respectively. Interest is paid on a monthly basis, and the principal is paid at maturity for subsequent borrowing.

20. Accounts payable

The payment period averages 2 months. The Group has financial risk management policies to ensure that all payables are paid within the pre-agreed credit terms.

21. Other Liabilities

a. Other payables

er Liabilities Other payables
Salaries and bonuses payable Incentives payable Advertising fees payable Business taxes payable Labor and health insurance payable Holiday benefits payable Pension payable Dividends payable Related parties Others	December 31, 2023 $ 464,811 207,356 81,244 34,458 16,458 10,032 7,917 2,286 13 171,341 $ 995,916	December 31, 2022
			$ 497,705 222,704 105,683 69,609 16,587 9,767 7,901 2,758 84 145,144 $ 1,077,942

Other payables - related parties are monthly payments of rental collected from lessees by the Group on behalf of related parties.

b. Other current liabilities

Temporary credits Receipts under custody	December 31, 2023 $ 90,061 7,708 $ 97,769	December 31, 2022	December 31, 2022
			$ 67,935 7,598 $ 75,533

22. Post-retirement Benefit Plan

a. Defined contribution plans

The Company and Aurora Office Automation, General Integration, KM Developing, and Ever Young Biodimension adopt a pension plan under the Labor Pension Act, which is a state-managed defined contribution plan. According to the Labor Pension Act, the Group

makes monthly contributions to employees' individual pension accounts at 6% of their monthly salaries.

Aurora (Bermuda), and Aurora Machinery Equipment did not draw up a retirement policy. Aurora (Bermuda)'s subsidiaries, including Aurora (China) Investment, Aurora Office Equipment, Aurora (China), Aurora (Jiang Su), Aurora Office Automation Sales Co., Ltd., Aurora Cloud, Aurora Home Furniture Co., Ltd., and Aurora (Shanghai) Electronic Commerce Co., Ltd. have drawn up the retirement policies in accordance with the regulations of the Shanghai Municipal People's Government, which also fell into the defined contribution plans; that is, a certain percentage of the employees’ basic wages would be contributed to the pension fund and deposited into the designated pension fund accounts. The above companies contributed a certain percentage of employees' basic wages to the pension fund.

b. Defined benefit plans

The pension system adopted by the Company, Aurora Office Automation, and General Integration under the "Labor Standards Act" is a state-managed defined benefit plan. The payment of the employee's pension is based on the period of service and the average salary of 6 months before the approved retirement date. The Company, Aurora Office Automation, and General Integration allocate 10% 、 10% and 2% of employees' monthly salaries respectively to the Supervisory Committee of Labor Retirement Reserve's dedicated account in the Bank of Taiwan as pension reserve funds. The Bureau of Labor Funds, Ministry of Labor administers the account. The Company, Aurora Office Automation, and General Integration have no right over its investment and administration strategies.

The amounts of defined benefit plans included in the consolidated balance sheets are as follows:

follows:
Present value of defined benefit obligation Fair value of plan assets Net defined benefit liabilities	December 31, 2023 $ 483,227 (72,583) $ 410,644	December 31, 2022
	(	(	$ 518,223 76,489) $ 441,734

Changes in net defined benefit liabilities (assets) are as follows:

January 1, 2023 Service costs Service costs for the current period Service costs for the previous period Interest expenses (income) Recognized in profit or loss Remeasurements Return on plan assets (excluding interest income calculated by a discount rate) Actuarial - changes in financial assumptions	Present value of defined benefit obligation $ 518,223 586 1,460 7,017 9,063 - 9,220	Fair value of plan assets ($ 76,489) - - ( 1,204) ( 1,204) ( 262 ) -	Net defined benefit liabilities (assets)
			$ 441,734 586 1,460 5,813 7,859 ( 262 ) 9,220

Actuarial losses - experience	(		8,225)		-	(		8,225)
adjustments
Recognized in other comprehensive			995	(	262)			733
income
Contribution by the employer			-	(	25,002 )	(		25,002 )
Benefits paid on plan assets	(		30,374 )		30,374			-
Payments from the Group	(		14,680)		-	(		14,680)
December 31, 2023		$	483,227	($	72,583)		$	410,644
January 1, 2022		$	546,764	($	59,345)		$	487,419
Service costs
Service costs for the current period			2,720		-			2,720
Service costs for the previous period			405		-			405
Interest expenses (income)			3,649	(	723)			2,926
Recognized in profit or loss			6,774	(	723)			6,051
Remeasurements
Return on plan assets (excluding
interest income calculated by a
discount rate)			-	(	3,813 )	(		3,813 )
Actuarial losses - changes in
demographic assumptions			1,980		-			1,980
Actuarial gains - changes in
financial assumptions	(		25,494 )		-	(		25,494 )
Actuarial losses - experience
adjustments			3,970		-			3,970
Recognized in other comprehensive
income	(		19,544)	(	3,813)	(		23,357)
Contribution by the employer			-	(	28,379 )	(		28,379 )
Benefits paid on plan assets	(		15,771)		15,771			-
December 31, 2022		$	518,223	($	76,489)		$	441,734

The Group has the following risks owing to the implementation of the pension system under the Labor Standards Act:

1) Investment risks: The Bureau of Labor Funds, Ministry of Labor invests the labor pension fund in equity securities, debt securities, and bank deposits in domestic (foreign) banks through independent implementation and commissioned operations. However, the distributed amount from the plan assets received by the Group shall not be lower than interest on a two-year time deposit at a local bank.
2) Interest rate risk: The decrease in the interest rate of government bonds/corporate bonds will increase the present value of defined benefit obligations, but the yield on debt investment of plan assets will also increase accordingly, which will partially offset the impact on net defined benefit liabilities.

3) Salary risk: The present value of defined benefit obligations is calculated with reference to future salaries of plan members. Therefore, the salary increase of plan members will increase the present value of the defined benefit obligation.

The present value of the Group's defined benefit obligations is calculated by certified actuaries and the major assumptions on the assessment date are as follows:

Discount rate Average long-term salary adjustment rate	December 31, 2023 1.125%~1.25% 2%~2.25%	December 31, 2022
		1.375% 2%~2.25%

If changes occur in major actuarial assumptions with other assumptions unchanged, the present value of defined benefit obligations will increase (decrease) as follows:

Discount rate Increase by 0.25% Decrease by 0.25% Expected salary increase rate Increase by 0.25% Decrease by 0.25%	December 31, 2023 ($ 9,993) $ 10,313 $ 10,020 ($ 9,761)	December 31, 2022	December 31, 2022
		( (	$ 11,119) $ 11,488 $ 11,186 $ 10,883)

As actuarial assumptions may be related to one another, the likelihood of fluctuation in a single assumption is not high. Therefore, the aforementioned sensitivity analysis may not reflect the actual fluctuations of the present value of defined benefit obligations.

Expected amount of contribution within 1 year Average duration of defined benefit obligations	December 31, 2023 $ 24,775 8.6-8.9 year	December 31, 2022
		$ 26,258 8.9-9.4 year

23. Equity

a.	Capital stock Common stock Number of shares authorized (in thousands) Share capital authorized Number of shares issued and fully paid (in thousands) Share capital issued	December 31, 2023 500,000 $ 5,000,000 236,202 $ 2,362,025	December 31, 2022	December 31, 2022
				500,000 $ 5,000,000 236,202 $ 2,362,025

b. Capital surplus

Capital surplus
May be used to offset deficits, appropriated as cash dividends or transferred to capital(1) Premium on conversion of corporate bonds Treasury share transactions Donations Disposal of the Company's shares by subsidiaries recognized as treasury share transactions Difference between the actual price from acquiring or disposing of shares held in subsidiaries and the book value Cash dividends received from the Company for shares of the Company held by subsidiaries May only be used to offset deficits Recognized value of changes in equity of ownership of subsidiaries (2) Dividends that are not collected before the designated date May not be used for any purpose Employees stock option	December 31, 2023 $ 742,679 3,333 938 54,838 1,219 1,014,266 7,913 9,569 40,247 $ 1,875,002	December 31, 2022
			$ 742,679 3,333 938 54,838 1,219 960,741 7,913 9,569 40,247 $ 1,821,477

1) This type of capital surplus may be used to cover loss or issue cash or replenish capital when there is no loss, but capital replenishment is restricted to the ratio of actual capital stock each year.
2) This type of capital surplus recognized as equity transaction effect due to changes in subsidiary equity, when the Company's has not acquired or disposed of subsidiary shares, or as adjustment value of capital surplus from subsidiary recognized by the Company using the equity method.
c. Retained earnings and dividend policy

The Company's shareholders' meeting on June 9, 2022 resolved to amend the Articles of Incorporation. The Board of Directors is authorized to resolve, with at least two-thirds of the directors present and the consent of a majority of the directors, that all or part of the dividends and bonuses, capital surplus or legal reserve to be distributed shall be paid in cash and reported to the shareholders' meeting.

According to the earnings distribution policy under the Company’s Articles of Incorporation before the amendment, if there is a profit in the Company's annual final accounts, it shall

first pay tax and make up for the accumulated losses of the past years, and then appropriate 10% as the legal reserve. Meanwhile, the special reserve shall be appropriated or reversed in accordance with laws. If there is any surplus, the remaining balance, plus the accumulated undistributed earnings in previous years, shall be distributed based on the distribution proposal drafted by the Board of Directors and resolved by a shareholders’ meeting. For the policy of employee remuneration estimation and distribution, please refer to Note 25(6) Employee Remuneration.

Appropriation of earnings to legal reserve shall be made until the legal reserve equals the Company’s paid-in capital. The legal reserve may be used to offset deficits. If he Company suffers no loss, the amount of legal reserve in excess of 25% of the paid-in capital may be appropriated as the share capital and distributed in cash.

When special reserve is provided for the net decrease in other equity accumulated in prior periods, only the undistributed earnings of prior periods are provided for.

As the industry into which the Company falls is currently in a stage of steady growth, demand for capital has lowered. In the future, operating results will be returned to shareholders as many as possible. In consideration of business development, financial conditions, capital expansion, and shareholders' equity, the Company will distribute dividends in a combination of stock and cash, where cash dividends will account for more than 10% of the dividends distributed for the year.

The shareholders' meetings which approved the distribution of earnings for years ended December 31, 2022 and 2021 were held on June 19, 2023 and June 9, 2022, respectively; the distributions of earnings are as follows:

Legal reserve Cash dividends	Distribution	of Earnings 2021 $ 137,065 1,228,253	Dividends Per Share (NT$)	Dividends Per Share (NT$)
	2022 $ 131,404 1,110,152		2022 $ 4.7	2021
				$ 5.2

In addition, the 2022 Annual Shareholders' Meeting approved the distribution of cash dividends (NT$0.8) from capital surplus - stock issuance premium of NT$188,962 thousand.

On March 14, 2024, the Board of Directors proposed the distribution of earnings for the year ended December 31, 2023 as follows:

ended December 31, 2023 as follows:
Legal reserve Cash dividends	Distribution of Earnings $ 108,985 968,430	Dividends Per Share (NT$)
		$ 4.1

The above-mentioned cash dividends have been distributed by the board of directors, and the rest are yet to be resolved by the shareholders' meeting expected to be held on June 19, 2024.

d. Special reserve arising from first-time application of IFRS

The special surplus reserve set aside by the company for the first time using IFRS accounting standards is as follows:

December 31, 2023 December 31, 2022 Special reserve $ 331,624 $ 331,624

The amount recorded as cumulative translation adjustments transferred to retained earnings was NT$452,517 thousand. As the increase in retained earnings arising from first-time application of IFRS was insufficient, special reserve was only set aside for the increase in retained earnings arising from application, NT$331,624 thousand.

Where relevant assets are subsequently used, disposed of or reclassified, the original proportion of special reserve may be reversed for the distribution of earnings. Special reserve that should be set aside upon first-time application of IFRS may be used to make up losses in subsequent years. Special reserve should be set aside for the deficit until there is a profit in subsequent years and the reasons for the provision of special reserve are resolved.

e. Other equity items

Other equity items
Exchange differences on translation of financial statements of foreign operations Attributable to the Group Associates accounted for using the equity method Unrealized gains (losses) on financial assets at fair value through other comprehensive income Associates accounted for using the equity method	December 31, 2023 ( $ 636,863 ) ( 59,389) (696,252) 458,633 ($ 237,619)	December 31, 2022
		( $ 506,745 ) ( 47,467) (554,212) 477,910 ($ 76,302)

1) Exchange differences on translation of financial statements of foreign operations

Exchange differences on translation of foreign operations' net assets denominated in functional currencies into the Group's presentation currency (NTD) are directly recognized in other comprehensive income as exchange differences on translation of financial statements of foreign operations. The cumulative exchange differences on translation of financial statements of foreign operations are reclassified to profit or loss upon disposal of foreign operations.

2023
Beginning balance
($ 554,212)
Incurred this year
Exchange differences on
translation of foreign
operations
(
130,118 )
Share of associates accounted for
using the equity method
(
11,922)
Other comprehensive income
(
142,040)
Ending balance
($ 696,252)
2) Unrealized gains (losses) on financial assets at fair value through
income
2023
Beginning balance
$ 477,910
Incurred this year
Unrealized gains (losses)
Share of associates accounted for
using the equity method
(
19,277)
Other comprehensive income
(
19,277)
Accumulated gains (losses) on
disposal of equity instruments
transferred to retained earnings

-
Ending balance
$ 458,633
f.
Treasury shares
December 31, 2023
Shares of the Company held by
subsidiaries
$ 791,826

1) Information on subsidiaries holding the Company's shares on the balance sheet date is as follows:

as follows:
Aurora Office Automation Corporation Aurora Office Automation Corporation			December 31, 2023
	The Company's Shareholding (%) 91.13	Number of Shares (in Thousands) 12,496	Amount of Treasury Shares Current Market Value $ 791,826 $ 949,756 December 31, 2022		Reason
					To maintain credit and shareholders' equity
	The Company's Shareholding (%) 91.13	Number of Shares (in Thousands) 12,496	Amount of Treasury Shares $ 791,826	Current Market Value $ 973,500	Reason
					To maintain credit and shareholders' equity

2) Treasury shares held by the Company may be neither pledged nor assigned rights such as dividend appropriation and voting rights in accordance with the Securities and Exchange Act. Subsidiaries holding the Company's shares, which are considered treasury shares, are bestowed shareholders’ rights, except for the rights to participate in any share issuance for cash and to vote.

24. Revenue

a. Breakdown of revenue from contracts with customers

Product category MFPs System furniture Others Region Asia America Europe Others		2023 $ 6,847,694 4,527,027 158,611 $ 11,533,332 $ 10,790,770 632,237 104,673 5,652 $ 11,533,332		2022
				$ 7,696,083 4,757,476 122,766 $ 12,576,325 $ 11,431,920 1,091,751 48,191 4,463 $ 12,576,325

b. Contract balance

Contract balance
Contract assets Contract liabilities	December 31, 2023 $ 113,141 $ 285,797	December 31, 2022 $ 120,794 $ 415,415	January 1, 2022
				$ 83,476 $ 463,585

Changes in contract assets and liabilities are mainly due to timing difference between performance obligations and customer payment.

The Group recognizes loss allowances for contract assets based on the lifetime expected credit losses. For the lifetime expected credit losses, taking into account the customers' past default history and current financial position, there were no past due contract assets as of December 31, 2023 and 2022, and the Group assessed that no provision for expected credit losses is required.

The amounts of contract liabilities at the beginning of the period and previously fulfilled that were recognized in revenue for the years ended December 31, 2023 and 2022 were NT397,897 thousand and NT$246,914 thousand, respectively.

25. Net Income

a. Other income

Income Other income
Income from consultancy Subsidy income Rental income Other income		2023 $ 57,164 52,627 26,021 26,066 $ 161,878		2022
				$ 55,175 63,620 23,393 37,779 $ 179,967

Income from consultancy represents the fees received by the Group from related parties for rendering consulting services.

b. Other gains and losses

Gains on financial assets Financial assets mandatorily measured at fair value through profit or loss Net foreign exchange gain Loss on disposal of property, plant, and equipment Gains on lease modifications Losses from disposal of intangible assets Impairment losses of associated enterprises using the equity method Others	2023 $ 45,375 4,209 ( 11,740 ) 1,267 ( 37 ) ( 10,946 ) ( 15,308) $ 12,820	2022
		$ 33,696 23,665 ( 2,673 ) 778 ( 235 ) - ( 13,013) $ 42,218

c. Finance costs

c. Finance costs
Bank overdrafts and interest on bank loans Interest expenses - leases Imputed interest on deposits d. Depreciation and amortization expenses Property, plant, and equipment Right-of-use assets Investment property Intangible assets Depreciation expenses by function Operating costs Operating expenses Non-operating income and expenses Amortization expenses by function Operating costs Operating expenses Marketing expenses Administrative expenses e. Employee benefits Short-term employee benefits Benefits after retirement (Note XXII) Defined contribution plans Defined benefit plans	2023 $ 74,316 17,533 54 $ 91,903 2023 $ 407,339 387,492 4,571 25,095 $ 824,497 $ 268,346 526,485 4,571 $ 799,402 $ 851 6,172 18,072 $ 25,095 2023 $ 2,251,080 194,590 7,859 $ 2,453,529	2022
		$ 50,537 21,408 19 $ 71,964 2022
		$ 425,174 408,499 4,866 23,983 $ 862,522 $ 272,584 561,089 4,866 $ 838,539 $ 1,365 8,156 14,462 $ 23,983 2022
		$ 2,373,199 206,387 6,051 $ 2,585,637

By function Operating costs Operating expenses	$ 157,583 2,295,946 $ 2,453,529	$ 231,258 2,354,379 $ 2,585,637

f. Employee compensation

The Company sets aside 1%~10% of income before tax for a year as employee compensation. Employee compensation for the years ended December 31, 2023 and 2022 was resolved by the Board of directors on March 14, 2024 and March 13, 2023:

Estimated percentage

Employee compensation Amount Employee compensation	2023 1% 2023 $ 12,700	2022
		1% 2022
		$ 15,310

If there is still any change in the amount after the annual consolidated financial statements are authorized for issue, the differences shall be treated as a change in accounting estimates in the following year.

The amounts of employee compensation distributed for the years ended December 31, 2022 and 2021 and those recognized in the consolidated financial statements are consistent.

Information on employee compensation resolved by the Board of Directors is available on the "Market Observation Post System" of the Taiwan Stock Exchange Corporation.

26. Income Tax

a. Income tax recognized in profit or loss

Major components of income tax expenses (benefits) are as follows:

Current income tax Accrued this year Adjustments from previous years Deferred income tax Accrued this year Income tax expense recognized in profit or loss		2023 $ 364,152 8,132) 356,020 47,805) $ 308,215		2022
	( (		(	$ 387,045 18,537) 368,508 20,063 $ 388,571

Reconciliation between accounting income and current income tax expenses is as follows:

		2023			2022
Net income before tax	$	1,482,504		$	1,810,198
Income tax expenses calculated at the
statutory rate ( 20%)	$	446,904		$	575,789
Unrecognized deductible temporary
difference	(	21,823 )	(		30,519 )
Fees that cannot be deducted from
taxes		5,028			3,623
Tax-exempted income	(	113,647 )	(		144,585)
Unrecognized loss carryforwards	( $	100 )		$	2,786
Others	(	15 )			14
Adjustments of current income tax
expenses in previous years	(	8,132)	(		18,537)
Income tax expense recognized in
profit or loss	$	308,215		$	388,571

The tax rate applicable to subsidiaries in mainland China is 15%~25%. Tax arising from other jurisdictions is calculated at the rates applicable in the respective jurisdictions.

b. Income tax recognized in other comprehensive income

			2023		2022
	Deferred income tax
	Accrued this year - remeasurements
	of defined benefit plans	( $	146 )	$	4,671
c.	Current income tax assets and liabilities
		December 31, 2023		December 31, 2022
	Current income tax assets
	Tax refunds receivable	$	48,347	$	93,574
	Current income tax liabilities
	Income tax payable	$	135,456	$	161,889

d. Deferred income tax assets and liabilities

Changes in deferred income tax assets and liabilities are as follows: 2023

2023
Deferred income tax assets	Beginning balance $ 18,709 8,399 27,035 2,414 8,134 11,660 3,293 51,104 $ 3,357 49,635 $ 183,740 $ 320,308 - 1,140 $ 321,448 Beginning balance $ 20,044 6,834 26,159 2,400 12,681 11,301 3,245 48,184 - 54,306 $ 185,154 $ 298,634 136 609 $ 299,379	Recognized in profit or loss		Recognized in other comprehensive income	Exchange Differences	Ending balance
		$ 7,719 ( 1,306 ) ( 3,222 ) 37 ( 5,510 ) ( 760 ) ( 3,282 ) 453 ( $ 169 ) - ($ 6,040) ( $ 53,173 ) 15 ( 687 ) ($ 53,845) Recognized in profit or loss		$ - - - - - - - - $ - 146 $ 146 $ - - - $ - Recognized in other comprehensive income	( $ 105 ) 78 36 - - ( 191 ) ( 11 ) ( 924 ) ( $ 59 ) - ($ 1,176) $ - - - $ - Exchange Differences	$ 26,323 7,171 23,849 2,451 2,624 10,709 - 50,633 $ 3,129 49,781 $ 176,670 $ 267,135 15 453 $ 267,603 Ending balance
Temporary differences Deferred revenue Loss allowances Loss on inventory write-down Holiday benefits payable Book-tax difference in pensions Impairment loss Litigation compensations Marketing and promotion fees payable Right-of-use assets’ impact on profits or losses Defined benefit plans Deferred income tax liabilities
Temporary differences Share of profit or loss of subsidiaries accounted for using the equity method Unrealized exchange gains Rental stabilization 2022 Deferred income tax assets
		( $ 1,335 ) 1,682 382 14 ( 4,547 ) 201 - 2,241 3,368 - $ 2,006 $ 21,674 ( 136 ) 531 $ 22,069	( (	$ - - - - - - - - - 4,671) $ 4,671) $ - - - $ -	$ - ( 117 ) 494 - - 158 48 679 ( 11 ) - $ 1,251 $ - - - $ -		$ 18,709 8,399 27,035 2,414 8,134 11,660 3,293 51,104 3,357 49,635 $ 183,740 $ 320,308 - 1,140 $ 321,448
Temporary differences Deferred revenue Loss allowances Loss on inventory write-down Holiday benefits payable Book-tax difference in pensions Impairment loss Litigation compensations Marketing and promotion fees payable Right-of-use assets’ impact on profits or losses Defined benefit plans Deferred income tax liabilities
Temporary differences Share of profit or loss of subsidiaries accounted for using the equity method Unrealized exchange gains Rental stabilization

e. Amount of temporary differences in unrecognized deferred income tax liabilities related to investments

As of December 31, 2023 and 2022, the taxable temporary differences related to investments in subsidiaries and associates not recognized as deferred income tax liabilities were NT$852,204 thousand and NT$841,321 thousand, respectively.

f. Income tax assessment

The corporate income tax of the Company and its subsidiaries have been assessed by the Tax Authorities. There is no difference between the assessment result and the filing. The assessment years are as follows.

assessment years are as follows.
The Company Aurora Office Automation KM Developing General Integration Ever Young Biodimension	Year of Assessment
	2021 2021 2021 2021 2021

27. Earnings per Share

Net income and weighted average number of common shares used for calculation of earnings per share are as follows:

Net income

Net income attributable to the Company Number of Shares Weighted average number of common shares used for calculation of basic earnings per share Effect of potentially dilutive common shares: Employee compensation Weighted average number of common shares used for calculation of diluted earnings per share		2023 2022 $ 1,091,507 $ 1,309,368 Unit: Thousand shares 2023 2022 224,814 224,814 207 237 225,021 225,051

If the Group chooses to offer employee compensation or share profits in the form of cash or stock, while calculating diluted earnings per share, and assuming that the compensation is paid in the form of stock, the dilutive potential common shares will be included in the weighted average number of outstanding shares to calculate diluted earnings per share. The dilutive effect of such potential common shares shall continue to be considered when calculating diluted earnings per

share before the number of shares to be distributed as employee compensation is approved in the following year.

28. Government subsidies

Aurora (Jiang Su) Enterprise Development Co. Ltd., a subsidiary of the merged company, obtained industrial support funds based on the project investment agreement signed between Aurora (China) Investment Co., Ltd. and the Nantong High-tech Industrial Development Zone Management Committee on December 24, 2018, the total subsidy is approximately RMB 21,000 thousand. As of December 31, 2023, RMB 6,300 thousand (equivalent to NT$27,260 thousand) has been obtained, which is recorded as deferred income and transferred to profit and loss within the useful life of the relevant assets.

29. Capital Risk Management

The Group manages capital management under the precondition for sustainable development to ensure that it is able to maximize the benefit for its shareholders by optimizing debt and equity.

The management reviews the capital structure of the Group from time to time in light of the economic environment and business considerations. According to the management's opinions and statutory requirements, the Group balances the overall capital structure through the payment of dividends, issuance of shares, and financing.

30. Non-cash Transactions

a. The acquisition of property, plant, and equipment by the Group during the years ended December 31, 2023 and 2022 that affected both cash and non-cash items is as follows:

Inventories transferred to property, plant, and equipment Property, plant, and equipment transferred to inventories Changes in liabilities from financing activities 2023		2023 $ 328,531 $ 14,123		2022
				$ 266,203 $ 19,438

b. Changes in liabilities from financing activities

Short-term borrowings Short-term notes and bills payable Long-term borrowings Guarantee deposits Lease liabilities	January 1, 2023 $ 1,509,000 1,049,579 ( 2,552,734 69,413 ( 687,112 ( $ 5,867,838 (	Cash flow $ 323,173 1,049,579 ) 864,585 9,166 ) 383,401) $ 254,388)		Non-cash flow changes New leasehold Others $ - $ - - - - - - - 462,121 ( 71,035) $ 462,121 ($ 71,035)	Non-cash flow changes New leasehold Others $ - $ - - - - - - - 462,121 ( 71,035) $ 462,121 ($ 71,035)	December31,2023	December31,2023
				New leasehold $ - - - - 462,121 $ 462,121
					( (		$ 1,832,173 - 3,417,319 60,247 694,797 $ 6,004,536

2022

2
Short-term borrowings Short-term notes and bills payable Long-term	January 1, 2022 $ 3,356,812 ( - 1,130,000	Cash flow $ 1,847,812 ) 1,049,579 1,422,734	Non-cash flow changes New leasehold Others $ - $ - - - - -	December31,2022
			New leasehold $ - - -
				$1509,000 1,049,579 2,552,734

borrowings Guarantee deposits Lease liabilities	75,087 ( 569,867 ( $ 5,131,766	5,674 ) 401,495) $ 217,332	- 600,524 ( $ 600,524 (	- 81,784) $ 81,784)	69,413 687,112 $ 5,867,838

Note: Others include lease modification adjustments and foreign currency exchange rate effects.

31. Financial instruments

a. Information on fair value - financial instruments not measured at fair value

The management of the Group considers that the carrying amounts of financial assets and financial liabilities not measured at fair value are close to their fair value.

b. Information on fair value - financial instruments measured at fair value on a recurring basis
1) Fair value level

December 31, 2023

Fair value level December 31, 2023
Financial assets at fair value through profit or loss Fund beneficiary certificates December 31, 2022 Financial assets at fair value through profit or loss Fund beneficiary certificates	Level 1 $ 97,510 Level 1 $ 63,953	Level 2 $ - Level 2 $ -	Level 3 $ - Level 3 $ -	Total
				$ 97,510 Total
				$ 63,953

In 2023 and 2022, there was no transfer between Level 1 and Level 2 fair value measurement.

c. Category of financial instruments

Financial assets Measured at fair value through profit or loss Mandatorily measured at fair value through profit or loss Measured at amortized cost (Note 1) Financial liabilities Measured at amortized cost (Note 2)	December 31, 2023 $ 97,510 7,981,142 6,776,130	December 31, 2022
		$ 63,953 8,205,062 6,672,452

Note 1. The balance includes cash, financial assets at amortized cost-current, account and note receivables (including related pauties), other receivables, other financial assets- non current refundable deposits, and other financial assets at amortized cost.
Note 2. The balance includes short-term loans, short-term bills payable, accounts payable (including related parties), other payables (excluding employee benefits payable, dividends payable and business tax payable), long-term loans, guarantee deposits received, and other financial liabilities at amortized cost.
d. Financial risk management objectives and policies

The main financial instruments of the Group include equity investments, accounts receivable, accounts payable, loans, and lease liabilities. The financial management department of the Group provides services to the business units, including coordinating operations in the domestic and international financial markets and managing financial risks relating to the operations of the Group based on the degree and breadth of risk. Such risks include market risk (including foreign exchange risk, interest rate risk, and other price risk), credit risk, and liquidity risk.

1) Market risk

The main financial risks the Group is exposed to in the business activities are foreign exchange risk, interest rate risk, and other price risk.

Market risk in relation to the Group's financial instruments and its management and measurement approaches remain unchanged.

a) Foreign exchange risk

For the monetary assets and liabilities of the Group denominated in non-functional currencies on the balance sheet date (including those written off in the consolidated financial), please refer to Note XXXVI.

Sensitivity analysis

The Group is mainly impacted by the exchange rate fluctuations in USD.

The sensitivity analysis below indicates the amount of decrease/increase in net income before tax arising from foreign exchange losses/gains on net monetary assets and liabilities when the New Taiwan dollar (functional currency) against each foreign currency appreciated by 3% for the years ended December 31, 2023 and 2022. When the New Taiwan dollar depreciated, its impact on net income before tax was the reverse equivalent amount. A sensitivity rate of 3% is used internally when foreign exchange risk is reported to the management. It also represents the management's assessment on the reasonably possible scope of foreign exchange rates.

rates.
Profit or loss	Impact of USD
	2023 $ 73	2022
		( $ 109 )

The impact of profit or loss was mainly attributable to the demand deposits, accounts payable, and loans for material purchasing denominated in USD that were still outstanding and not hedged in cash flows on the balance sheet date. The Group's sensitivity to the exchange rate of USD increase in the current period due to the decrease in the net asset denominated in USD held by the Group.

b) Interest rate risk

The carrying amounts of financial assets and financial liabilities of the Group exposed to interest rate risk on the balance sheet date are as follows:

Fair value interest rate risk - Financial liabilities Cash flow interest rate risk - Financial assets - Financial liabilities	December 31, 2023 $ 694,797 6,557,870 3,417,319	December 31, 2022
		$ 687,112 6,499,160 2,552,734

Sensitivity analysis

The sensitivity analysis below is prepared based on the risk exposure of nonderivative instruments to the interest rates at balance sheet date. The rate of change adopted is 25 basis points increase/decrease in the interest rate, which also represents the management's assessment on the reasonably possible scope of the interest rate.

If the interest rate increased or decreased by 25 basis points, the Group's net income before tax in 2023 and 2022 would have decreased or increased by NT$7,851 thousand and NT$9,866 thousand, respectively, with all other variables remaining constant. This is mainly attributable to the exposure to the risks of interest rates of the Group's deposits, financial assets at amortized cost, other financial assets, and long-term loans.

c) Other price risk

The Group is exposed to equity price risk through its investments in monetary funds.

Sensitivity analysis

The sensitivity analysis below is carried out based on the exposure to equity price risk on the balance sheet date.

If the monetary fund price increased/decreased by 5%, income before tax in 2023 and 2022 would have increased/decreased by NT$4,876 thousand and NT$3,198 thousand, respectively, due to a change in the fair value of financial assets at fair value through profit or loss.

2) Credit risk

Credit risk refers to risk that causes the financial loss of the Group due to a counterparty's delay in performing contractual obligations. As of the balance sheet date, the Group's largest credit risk exposure from a counterparty's failure to fulfill obligations came from the carrying amount of financial assets recognized in the consolidated balance sheets.

The Group uses publicly obtainable financial information and past transaction records to grade main customers while monitoring its credit risk exposure and credit ratings of the counterparties.

The Group’s credit risk is concentrated on the top 10 customers, accounting for 21% and 29% of the total accounts receivable as of December 31, 2023 and 2022, respectively.

3) Liquidity risk

The Group supports the operations and reduces the impact of fluctuating cash flows by managing and maintaining sufficient cash and cash equivalents. The management of the

Group supervises the use of the credit line and ensures compliance with the terms of the loan contracts.

The following tables detail the Group’s remaining contractual maturity for its nonderivative financial liabilities with agreed repayment periods. The tables had been drawn up based on the undiscounted cash flows of financial liabilities from the earliest date on which the Group can be required to repay.

December 31, 2023

December 31, 2023
Weighted Average Effective Rate (%) Non-derivative financial liabilities Zero-interest-bearing liabilities Lease liabilities Variable-rate instruments 1.99% Instruments with fixed interest rates 1.68% December 31, 2022 Weighted Average Effective Rate (%) Non-derivative financial liabilities Zero-interest-bearing liabilities Lease liabilities Variable-rate instruments 1.76% Instruments with fixed interest rates 1.77% Line of credit Unsecured banking facilities - Amount utilized - Amount not utilized Secured banking facilities - Amount utilized - Amount not utilized	Weighted Average Effective Rate (%)	Payment on Sight or within 1 Month		1~3 Month(s)	3~12 Months	1~5 Year(s)
	1.99% 1.68% Weighted Average Effective Rate (%)	$ 582,915 29,812 - 1,606,173 $ 2,218,900 Payment on Sight or within 1 Month		$ 594,387 55,217 - 225,000 $ 874,604 1~3 Month(s)	$ 138,028 216,682 - 1,000 $ 355,710 3~12 Months	$ 209,375 283,770 3,417,319 - $ 3,910,464 1~5 Year(s)
			$ 909,114 33,488 - 1,199,579
			$ 2,447,181

32. Related Party Transactions

All transactions between the Company and its subsidiaries (related parties of the Company), account balances, income, and expenses are eliminated upon consolidation and therefore are not shown in the note. In addition to those disclosed in other notes, the transactions between the Group and other related parties are as follows.

a. Names and relations of related parties

Related Party

Aurora Holdings Incorporated (Aurora Holdings)

Aurora Telecom Co., Ltd. (Aurora Telecom)

Huxen Corporation (Huxen)

Aurora Development Corp. (Aurora Development)

Huxen (China) Co., Ltd. (Huxen (China)) Aurora Leasing Corporation (Aurora Leasing) Aurora Holdings (Shanghai) Inc. (Aurora Holdings (Shanghai))

Shanghai Jiading New Partnership Rural Community Cooperative (formerly Shanghai Jianbang Asset Management Co., Ltd.)(Shanghai Jiading)

Aurora Museum

Aurora Building Management (Shanghai) Co., Ltd. (Aurora Building Management)

Y. T. Chen Sustainable Management Foundation (formerly Aurora Sustainable Management Foundation)( Sustainable Foundation)

Relationship with the Group

Investor of significant influence

Associate Associate Associate Associate Other related party Other related party

Other related party

Other related party Other related party

Other related party

Aurora Interior Design Co., Ltd. (Aurora Interior Other related party Design) Aurora Corp. of America (ACA) Other related party Aurora International (Singapore) (AIS) Other related party Aurora Japan Corporation (AJC) Other related party

b. Operating revenue

Operating revenue
Type/Name of Related Party Other related party Associate Investor of significant influence		2023 $ 1,387,139 770,372 631 $ 2,158,142		2022
				$ 1,704,902 910,398 1,009 $ 2,616,309

Sales by the Group to related parties are made based on the market price, with payments collected within 1~4 month(s).

c. Purchase of goods

Purchase of goods
Type/Name of Related Party Associate Other related party		2023 $ 61,644 51,873 $ 113,517		2022
				$ 73,778 45,738 $ 119,516

Purchases from related parties are made by the Group based on the market price, with payments made in cash within 1~3 month(s).

d. Other revenue

Other revenue
Type/Name of Related Party Huxen (China) Huxen Aurora Leasing Other related party Associate		2023 $ 52,229 32,200 30,917 2,677 420 $ 118,443		2022
				$ 57,211 32,441 28,923 1,200 912 $ 120,687

Other revenue mainly represents revenue from consulting services rendered to related parties by the Group.

e. Operating expenses

by the Group. Operating expenses
Type/Name of Related Party Other related party Investor of significant influence Associate		2023 $ 39,243 3,759 2,055 $ 45,057		2022
				$ 39,670 4,009 3,372 $ 47,051

Operating expenses represent expenses paid to related parties for advertising and marketing.

f. Receivables from related parties

Accounting Subject Type/Name of Related

Accounting Subject	Type/Name of Related
Accounts receivable	Party Aurora Leasing ACA Other related party Associate Investor of significant influence	December 31, 2023		December 31, 2022 $ 92,744 56,398 5,536 135 42 $ 154,855
			$ 91,764 38,917 4,576 595 13 $ 135,865		$ 92,744 56,398 5,536 135 42 $ 154,855

Other receivables Other related party Huxen (China) Other related party	$ 6,177 4,026 541 $ 10,744	$ 5,894 4,754 - $ 10,648

Other receivables represent receivables and purchase allowances arising from advance payments between the Group and related parties.

The outstanding amount of receivables from related parties is not collateralized. No loss allowances were set aside for receivables from related parties for the years ended December 31, 2023 and 2022.

g. Payables to related parties

Accounting Subject Accounts payable Other payables	Type/Name of Related Party Other related party Associate Investor of significant influence Associate Other related party	December 31, 2023	December 31, 2023	December 31, 2022 $ 2,495 62 $ 2,557 $ 9 72 3 $ 84	December 31, 2022 $ 2,495 62 $ 2,557 $ 9 72 3 $ 84
			$ 1,638 365 $ 2,003 $ 9 4 - $ 13		$ 2,495 62 $ 2,557 $ 9 72 3 $ 84

h. Acquisition of property, plant, and equipment

Type/Name of Related Party Associate		Price
		2023 $ 894		2022
				$ 667

The transaction prices of the aforesaid transactions are determined according to market conditions.

i. Disposal of property, plant, and equipment

Type/Name of RelatedParty Other related party		Disposal	proceeds 2022 $ 199		Disposal gains (losses)	Disposal gains (losses)	Disposal gains (losses)
		2023 $ -			2023		2022
					$ -		$ -

The transaction prices of the aforesaid transactions are determined according to market conditions.

j. Acquisition of financial assets

2022

Acquisition of financial assets 2022
Name of Related Party	Accounting Subject	Transaction object Aurora Cloud	Acquisition proceeds
Other related party – Aurora Holdings (Shanghai)	Investments applying the equity method (Note)			$ 3,012

Note: It has been consolidated and offset upon preparation of this Consolidated Financial Statement.

k. Lease agreements

Statement. Lease agreements
Type/Name of Related Party Acquisition of right-of-use assets Investor of significant influence Other related party Associate		2023 $ 53,253 127 - $ 53,380		2022
				$ 13,971 294,147 255 $ 308,373

Accounting Subject Type/Name of Related Party December 31, 2023 Lease liabilities Aurora Holdings (Shanghai) $ 91,667 Shanghai Jiading 146,164 Investor of significant influence 53,948 Associate 110 $ 291,889 December 31, 2023 Interest expenses Aurora Holdings (Shanghai) $ 5,771 Other related party 1,193 Investor of significant influence 488 Associate 4 $ 7,456	December 31, 2023	December 31, 2022 $ 201,404 155,926 32,682 2,518 $ 392,530 December 31, 2022 $ 10,477 1,256 319 71 $ 12,123

The Group leased land and offices to related parties for the years ended December 31, 2023 and 2022, respectively, with the lease terms of 1 to 23 years; the rent is payable on a monthly basis and the terms are not materially different from those of the general clients.

l. Lease agreements

Operating lease

The total lease payments to be received in the future are as follows:

Type/Name of Related Party Other related party Rental income is as follows: Type/Name of Related Party Other related party Associate		2023 $ 340 2023 $ 4,872 229 $ 5,101		2022
				$ 4,622 2022
				$ 4,765 - $ 4,765

The rental of office buildings leased by the Group to related parties is charged on a monthly basis according to general market conditions.

m. Others

basis according to general market conditions. Others
Accounting Subject Type/Name of Related Party Refundable deposits Aurora Holdings (Shanghai) Other related party Investor of significant influence Associate Guarantee deposits received Other related party Remuneration to the management Short-term employee benefits Retirement benefits	December 31, 2023	December 31, 2022 $ 26,239 7,104 4,834 3,839 $ 42,016 $ 804 2022 $ 108,620 1,304 $ 109,924
	$ 23,352 6,974 4,834 3,839 $ 38,999 $ 804 2023 $ 119,525 1,576 $ 121,101		$ 26,239 7,104 4,834 3,839 $ 42,016 $ 804 2022 $ 108,620 1,304 $ 109,924

n. Remuneration to the management

The remuneration to directors and the management is determined by the Remuneration Committee based on personal performances and market trends.

33. Pledged Assets

The following assets of the Group have been provided for financial institutions as collateral for loans:

loans:
Pledged certificates of deposit (accounted for as financial assets measured at amortized cost) Demand deposits (recognized in other financial assets) Investment property Property, plant, and equipment	December 31, 2023 $ 1,081,750 28,173 295,080 326,115 $1,731,118	December 31, 2022
			$ - 42,432 297,038 263,259 $ 602,729

34. Significant Contingent Liabilities and Unrecognized Contract Commitments

a. Unused letters of credit outstanding as of December 31, 2023 amounted to US$1,008 thousand.
b. Guarantee notes issued by the Group to financial institutions for short-term and long-term loans as of December 31, 2023 amounted to NT$9,520,000 thousand.
c. Guaranteed notes issued by the Group under warranty contracts or for business needs as of December 31, 2023 amounted to NT$22,066 thousand.
d. Guaranteed notes received by the Group for business operations as of December 31, 2023 amounted to NT$2,864 thousand.
e. Performance bonds issued by banks for the Group as of December 31, 2023 amounted to NT$21,880 thousand.
f. Aurora Office Equipment Co., Ltd. Shanghai and Shanghai Jianbang Asset Management Co., Ltd. (Shanghai Jianbang) entered into the "Cooperation Agreement," where Shanghai Jianbang provides land use rights for 50 years. According to Article 24 of the Cooperation Agreement, Aurora Office Equipment Co., Ltd. Shanghai shall pay Shanghai Jianbang a fixed land profit every year. Starting from 2012, RMB6,000 thousand/acre shall be paid per year based on the actual area used (282 acres). The fixed profit per acre of land shall be adjusted upwards by 5% based on the profit payable before adjustment every 5 years, but the maximum shall not exceed RMB7,500 thousand/acre per year.
g. Unrecognized contractual commitments of the subsidiaries for purchases of goods as of December 31, 2023 amounted to NT$26,337 thousand.

h. Significant contracts of the Company and its subsidiaries are disclosed as follows:


Type of Contract	Contracting Party	Contract Duration	Contract Content	Restrictions
Distribution	SHARP CORPORATION	2024.4.1~2025.3.31	Sharp photocopiers	1. Exclusive
contract	Aurora Corporation	(Automatic extension by one year upon expiry)		distribution 2. Non-compete
OEM	(1)Konica Minolta , Inc	2024.1.1~2024.12.31	Production and	None
contract	(2)Konica Minolta Business		procurement of MFPs and PP rinters
	Solutions (China) Co., Ltd.		p in mainland China
	(3)Aurora Office Automation
	Sales Co., Ltd. Shanghai

Type of Contract	Contracting Party	Contract Duration	Contract Content	Restrictions
OEM contract	(1) Aurora Office Automation Sales Co., Ltd. Shanghai (2) Zhuhai Pantum Electronics Co., Ltd.	2024.1.1~2025.12.31	Production and procurement of A4 printer	None
Distribution	KONICA MINOLTA, INC	2024.4.1~2025.03.31	KM photocopiers and	1. Non-compete
contract	Aurora Office Automation Corporation		printers	2. Sales in Taiwan only
Distribution	STRATASYS AP LTD.	2024.4.1~2025.3.31	SSYS 3D printers	1. Non-Exclusive
contract	General Integration Technology			distribution
	~~C~~o., Ltd.			2. Non-compete clauses are applied 3. Sales in Taiwan only
Distribution contract	CREAFORM INC. General Integration Technology Co., Ltd.	2023.6.21~2024.6.20	3D scanners	1. Non- Exclusive distribution 2. Sales in Taiwan only
Distribution	KONICA MINOLTA, INC	2024.4.1~2025.03.31	Large photocopiers	1. Annual sales
contract	KM Developing Solutions Co., Ltd.		and multi-functional hotocoiers	amount limit
			pp	2. Non-compete
				3. Sales in Taiwan only

35. Significant Events after the Balance Sheet Date: None.

36. Information on Foreign Currency-denominated Assets and Liabilities of Significant

Influence

The following summary is presented in foreign currencies other than the functional currency. The exchange rate disclosed in the summary refers to the exchange rate of a foreign currency to the functional currency. The significant impact on assets and liabilities recognized in foreign currencies is as follows:

December 31, 2023 Foreign currency assets Monetary items USD USD Non-monetary items Associates accounted for using the equity method RMB Foreign currency liabilities Monetary items USD USD	Foreign currencies $ - 115 165,441 790 760	Unit: Foreign currency/NT$ thousand Exchange Rate Carrying amount 30.71 (USD:NTD) $ 4 7.0827 (USD:RMB) 812 4.327 (RMB:NTD) 715,861 30.71(USD:NTD) 24,809 7.0827(USD:RMB) 5,382

December 31, 2022

December 31, 2022
Foreign currency assets Monetary items USD USD Non-monetary items Associates accounted for using the equity method RMB Foreign currency liabilities Monetary items USD USD	Foreign currencies $ 2,619 127 155,644 463 674	Exchange Rate 6.9646(USD:RMB) 30.71(USD:NTD) 4.4080 (RMB:NTD) 30.71(USD:NTD) 6.9646(USD:RMB)	Carrying amount
			$ 18,242 3,889 686,077 13,817 4,697

Realized and unrealized foreign exchange gains and losses that have significant impact on the Group are recognized in other gains and losses; please refer to Note XXV (II).

37. Supplementary Disclosures

a. Information on significant transactions:
1) Loans provided for others: None.
2) Endorsements/guarantees provided for others: Table 1.
3) Securities held at end of period (excluding investments in subsidiaries and associates): Table 2.
4) Accumulated purchase or sale of the same securities amounting to NT$300 million or 20% of paid in capital or more: Table 3.
5) Acquisition of property amounting to NT$300 million or 20% of paid in capital or more: None.
6) Disposal of property amounting to NT$300 million or 20% of paid-in capital or more: None.
7) Purchases or sales with related parties amounting to NT$100 million or 20% of paid-in capital or more: Table 4.
8) Receivables from related parties amounting to NT$100 million or 20% of paid-in capital or more: None.
9) Derivatives transactions: None.
10) Intercompany relationships and significant intercompany transactions: Table 5.
b. Information on invested companies: Table 6.
c. Information on investments in mainland China:
1) Information on any investee company in mainland China (name, main business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, investment income, carrying amount of investment at end

of period, repatriations of investment income, and limit on the amount of investment in mainland China): Table 7.

2) Major transactions with any investee company in mainland China directly or indirectly through a third region, and their prices, payment terms, unrealized gains (losses), and other information: Table 8.
d. Information on major shareholders (names of shareholders with a shareholding ratio of 5% or more as well as number and proportion of shares held): Table 9.

38. Segment Information

Information is provided for the chief business decision makers to allocate resources and to evaluate the performance of segments by company. The reportable segments of the Group are based in Taiwan and mainland China and mainly engage in the sales of office automation products, computer and communication equipment, and furniture.

The revenue and results of the Group's operations and segment assets are analyzed as follows:

Item Revenue from external customers Intersegment revenue Total revenue Segment profit or loss Segment assets			2023	2023	2023
		Taiwan $ 4,497,934 123,118 $ 4,621,052 $ 1,416,136 $ 14,158,877	Mainland China $ 7,035,398 56,062 $ 7,091,460 $ 489,303 $ 11,036,074		Offset of Intersegment Revenue and Profit or Loss $ - 179,180) $ 179,180) $ 422,935) $ 7,255,436)		Total
				( ( ( (			$ 11,533,332 - $ 11,533,332 $ 1,482,504 $ 17,939,515

Item Revenue from external customers Intersegment revenue Total revenue Segment profit or loss Segment assets			2022	2022	2022
		Taiwan $ 4,455,677 163,831 $ 4,619,508 $ 1,727,484 $ 14,505,062	Mainland China $ 8,120,648 62,494 $ 8,183,142 $ 786,131 $ 11,379,949		Offset of Intersegment Revenue and Profit or Loss $ - 226,325) $ 226,325) $ 703,417) $ 7,621,088)		Total
				( ( ( (			$ 12,576,325 - $ 12,576,325 $ 1,810,198 $ 18,263,923

Table 1

Aurora Corporation and Subsidiaries

Endorsement/Guarantee for Others

For the year ended December 31, 2023

(In Thousands of New Taiwan Dollars,unless stated otherwise)

No. (Note 1)	Name of endorser/guarantor	The endorsed party	The endorsed party	Limits of endorsement and guarantee for a single enterprise (Note 3)	Maximum balance of endorsement and guarantee of current term	Balance of endorsement and guarantee at end of term	Actual utilized amount	Amount of endorsement/ guarantee secured by properties	Accumulated ratio of the amount of endorsement and guarantee in the net worth of financial statements of the most recent term (%)	Maximum limits of endorsement and guarantee (Note 3)	Endorsement and guarantee provided by the Company to the subsidiary (Note 4)	As a subsidiary’s endorsements /guarantees toward its parent company (Note 4)	Endorsement and guarantee in Mainland China (Note 4)	Note
		Name of Company	Relationship (Note 2)
1	Aurora (China) Co., Ltd.	Aurora (Jiangsu) Development Co., Ltd.	4	$ 6,114,770	$ 874,600	$ 874,600	$ 649,146	$ 1,093,350	12.06%	$ 6,114,770	N	N	Y

Note 1. The No. column is described as follows:

(1) “0” for the issuer.
(2) Investees are numbered from 1 onwards.

Note 2. The relationships between the party providing endorsements/guarantees and the one receiving them are divided into the following 7 types. Simply indicate the type:

(1) Companies with current business.
(2) Companies that the Company directly and indirectly holds more than 50% of their shares with voting rights.
(3) Companies that directly and indirectly hold more than 50% of the shares of the Company with voting rights.
(4) Companies that the Company directly and indirectly holds at least 90% of their shares with voting rights.
(5) Counterparts required for undertaken projects or companies that are each other’s guarantors as required in a contract as joint builders.
(6) Companies endorsed/guaranteed by all sponsoring shareholders because of the joint investment relationships according to their shareholding ratio.
(7) Counterparts that are each other's joint guarantors to ensure fulfillment of a sales contract for pre-sold housing according to the requirements of the Consumer Protection Act.
Note 3. The total amount of endorsement/guarantee specified in the “Endorsement and Guarantee Regulations” of the Company shall not exceed the net worth of the current term and that to a single enterprise shall be limited at NTD6,276,617 thousand.

Note 4. Y is provided only for endorsement and guarantee from a TWSE/TPEx parent company to a subsidiary, endorsement and guarantee from a subsidiary to a TWSE/TPEx parent company and endorsement and guarantee in Mainland China.

Table 2

Aurora Corporation and Subsidiaries

Securities Held at End of Period December 31, 2023

(In Thousands of New Taiwan Dollars)

December 31, 2023 (In Thousands of New Taiwan	Dollars)
Securities Holding Company	Type and Name of Securities	Relationship with Issuer of Securities	Ledger Accounting Subject		Ending Balance			Remark
				Number of Shares (in Thousand Shares or Thousand Units)	Carrying amount	Shareholding (%)	Fair Value (Note 1)
Aurora Office Automation Corporation KM Developing Solutions Co., Ltd. Aurora (China) Co., Ltd. Aurora Office Automation Sales Co., Ltd. Shanghai Aurora Office Equipment Co., Ltd. Shanghai Aurora (Bermuda) Investment Ltd. Aurora Home Furniture Co., Ltd.	Stock Aurora Corporation Aurora Corporation Fund Hua Nan Kirin Money Market Fund Nanjing Bank - large certificates of deposits Bank of China - large certificates of deposits Cathay United Bank - large certificates of deposits Industrial Bank - large certificates of deposits Bank of China - large certificates of deposits Minsheng Bank - large certificates of deposits Industrial Bank - large certificates of deposits Taishin International Bank - time deposits Industrial Bank - large certificates of deposits	The Company The Company None None None None None None None None None None	Financial Assets at Fair Value through Other Comprehensive Income - Current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost - Current Financial Assets at Amortized Cost-Current	3,290 9,206 7,985 - - - - - - - - -	$ 250,070 699,686 97,510 2,068,127 237,286 269,194 596,395 237,284 221,212 131,603 9,519 87,735	1.39 3.90 - - - - - - - - - -	$ 250,070 699,686 97,510 2,068,127 237,286 269,194 596,394 237,284 221,212 131,603 9,519 87,735	Notes 1 and 2 Notes 1 and 2 Note 1

Note 1. Market prices of stocks with open market prices refer to the closing prices as of December 29, 2023. Market prices of open-end funds refer to the net asset value of the funds on the balance sheet date. Note 2. The Company's shares held by subsidiaries are treated as treasury shares.

Note 3. For information on investments in subsidiaries, associates, and joint ventures, please refer to Tables 5 and 6.

Table 3

Aurora Corporation and Subsidiaries

Accumulated Purchase or Sale of the Same Securities Amounting to NT$300 Million or 20% of Paid-in Capital or More For the Year Ended December 31, 2023

Unit: NT$ thousand or thousand shares (unless stated otherwise)

Company Name	Type and Name of Securities	Ledger Accounting Subject	Counterparty	Relationship	Transaction Currency	Beginningof Period	Beginningof Period	Reclassification	Reclassification	Purchase	Purchase		Sale	Sale		Increase/Decrease	Increase/Decrease	Ending	Balance
						Number of Shares (in Thousand Shares or Thousand Units)	Amount	Number of Shares (in Thousand Shares or Thousand Units)	Amount	Number of Shares (in Thousand Shares or Thousand Units)	Amount	Number of Shares (in Thousand Shares or Thousand Units)	Selling Price	Carrying Cost	Gains (Losses) on Disposal	Number of Shares (in Thousand Shares or Thousand Units)	Amount	Number of Shares	Amount
Aurora Office Automation Sales Co., Ltd. Shanghai Aurora Office Equipment Co., Ltd. Shanghai Aurora (China) Co., Ltd. Aurora Home Furniture Co., Ltd. Aurora (China) Investment Co., Ltd. Aurora (Jiang Su) Enterprise Development Co., Ltd.	Income- contributing Fast Track Structured deposits Increase profits every day for institutional funds Structured deposits Structured deposits Timberland Express Increase profits every day for institutional funds Structured deposits Structured deposits Structured deposits Timberland Express Golden Snow Ball Steady Profit Yueying No.1	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	Industrial Bank Industrial Bank Industrial Bank Minsheng Bank Bank Sinopac Industrial Bank Minsheng Bank Industrial Bank Shanghai Pudong Development Bank Industrial Bank Industrial Bank Industrial Bank	None None None None None None None None None None	RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB	- - - - -	$ - - - - -	- - - - -	$ - - - - -	- - - - -	$ 160,000 115,000 800,000 170,000 190,000 150,000 75,000 75,000 178,000 138,000 113,000 200,000	- - - - - - - - - - - -	$ 160,408 115,654 80,219 171,021 190,753 150,460 75,150 75,469 179,099 138,813 113,566 201,004	$ 160,000 115,000 80,000 170,000 190,000 150,000 75,000 750,000 178,000 138,000 113,000 200,000	$ 408 654 219 1,021 753 460 150 469 1,099 813 566 1,004	- - - - - - - - - - - -	$ - - - - - - - - - - - -	- - - - - - - - - - - -	$ - - - - - - - - - - - -

Table 4

Aurora Corporation and Subsidiaries

Purchases or Sales with Related Parties Amounting to NT$100 Million or 20% of Paid-in Capital or More For the Year Ended December 31, 2023

(In Thousands of New Taiwan Dollars)

Company	Counterparty	Relationship		Transaction Situation	Transaction Situation		Unusual Transaction Terms and Reasons	Unusual Transaction Terms and Reasons	Notes and Accounts Receivable (Payable)	Notes and Accounts Receivable (Payable)	Remark
			Purchases (Sales)	Amount	Percentage of Total Purchases (Sales) (%)	Credit Period	Unit price	Credit Period	Balance	Percentage of Notes and Accounts Receivable (Payable) (%) (Note)
Aurora Corporation Aurora Corporation Aurora Corporation Aurora Office Automation Corporation Aurora Office Automation Sales Co., Ltd. Shanghai Aurora Office Equipment Co., Ltd. Shanghai	Aurora Leasing Corporation Aurora Interior Design Co., Ltd. Aurora (China) Co., Ltd. Aurora Leasing Corporation Huxen (China) Co., Ltd. AURORA CORP OF AMERICA	Huxen's subsidiary (associate) Other related party Subsidiary Huxen's subsidiary (associate) Huxen's subsidiary (associate) Other related party	Sales Sales Sales Sales Sales Sales	( $ 352,646 ) ( 168,962 ) ( 121,731 ) ( 220,360 ) ( 749,996 ) ( 595,510 )	( 11% ) ( 5% ) ( 4% ) ( 26% ) ( 11% ) ( 8% )	Due within 60 days Due within 60 days Due within 120 days Due within 60 days Due within 120 days Due within 120 days	According to market conditions, no material difference According to market conditions, no material difference According to market conditions, no material difference According to market conditions, no material difference According to market conditions, no material difference According to market conditions, no material difference	Due within 60 days Due within 60 days Due within 120 days Due within 60 days Due within 120 days Due within 120 days	$ 55,773 - 3,883 35,991 - 38,917	22% - 2% 33% - 6%

Note: The above percentage is calculated as the ratio of the balance of notes and accounts receivable (payable) with related parties to the balance of total notes and accounts receivable (payable).

Table 5

Aurora Corporation and Subsidiaries

Intercompany Relationships and Significant Intercompany Transactions For the Year Ended December 31, 2023

(In Thousands of New Taiwan Dollars)

No. (Note 1)	Company	Counterparty	Relationship (Note 2)		Description	of Transactions
				Accounting Subject	Amount (Note 3)	Transaction Terms (Note 4)	Percentage of Consolidated Total Revenue or Total Assets (%) (Note 5)
0 1	Aurora Corporation Aurora Office Automation	Aurora Office Automation Aurora Office Equipment, Shanghai Aurora (China) Aurora Office Automation Sales, Shanghai General Integration KM Developing Ever Young Biodimension Aurora Home Furniture KM Developing	1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3	Sales revenue Other income Purchase of goods Operating expenses Other receivables Purchase of goods Sales revenue Purchase of goods Accounts receivable Sales revenue Sales revenue Purchase of goods Accounts receivable Other receivables Accounts payable Purchase of goods Other receivables Sales revenue Purchase of goods Sales revenue Purchase of goods Accounts receivable	$ 16,922 21,477 88 622 2,452 30,949 121,731 21,224 84 1,387 781 21 2 105 3 1,599 210 5 3,889 2,019 277 469	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	- - - - - - 1 - - - - - - - - - - - - - - -

(Continued on the next page)

(Continued from the previous page)

No. (Note 1)	Company	Counterparty	Relationship (Note 2)		Description	of Transactions
				Accounting Subject	Amount (Note 3)	Transaction Terms (Note 4)	Percentage of Consolidated Total Revenue or Total Assets (%) (Note 5)
2 3 4 5 6	General Integration Aurora (China) Aurora Office Automation Sales, Shanghai. Aurora Home Furniture Aurora Office Equipment, Shanghai	Ever Young Biodimension Aurora Home Furniture Aurora Office Equipment, Shanghai Aurora (Shanghai) Electronic Commerce Aurora Cloud Aurora Office Equipment, Shanghai Aurora (Shanghai) Electronic Commerce Aurora Home Furniture Aurora Cloud	3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3	Sales revenue Accounts receivable Sales revenue Purchase of goods Accounts receivable Accounts payable Purchase of goods Operating expenses Other income Accounts payable Sales revenue Other income Accounts receivable Other income Operating expenses Accounts receivable Operating expenses Accounts payable Sales revenue Accounts receivable Other income Other receivables Purchase ofgoods	$ 1,992 563 1,056 452,313 115 65,440 50,358 24,085 556 3,209 21,970 50 8,370 663 9,100 276 4,514 706 5,564 554 20,719 582 1,384	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	- - - 4 - 1 - - - - - - - - - - - - - - - -

Note 1. The information on business dealings between the parent company and subsidiaries should be numbered according to the following method:

For the parent company, fill in 0.
Subsidiaries are sorted in a numerical order starting from 1.
Note 2. Relationships with counterparties can be any one of the following three types:
The parent company to subsidiaries.
Subsidiaries to the parent company.
Subsidiaries to subsidiaries.

Note 3. When the Consolidated Financial Statements are prepared, the amounts have been offset in a consolidated manner.

Note 4. There is no material difference between the terms of the sales transactions between the parent company and subsidiaries and the normal sales of goods. The terms of other transactions are based on the agreement between both parties.

Note 5. The percentage is rounded to the nearest whole number.

Table 6

Aurora Corporation and Subsidiaries

Information on Investee Companies For the Year Ended December 31, 2023

(In Thousands of New Taiwan Dollars)

Name of Investor	Name of Investee	Location	Main Business Activities	Initial Investment Amount	Initial Investment Amount	Ending Balance	Ending Balance	Ending Balance	Profit (Loss) of Investee for the Period	Investment Profit (Loss) Recognized	Distribution of Dividends by Investee	Distribution of Dividends by Investee	Remark
				Ending Balance for the Current Period	Ending Balance for the Previous Period	Number of Shares	Shareholding (%)	Carrying amount			Stock Dividends	Cash dividends
Aurora Corporation Aurora Office Automation Corporation General Integration Technology Co., Ltd.	Aurora (Bermuda) Investment Ltd. Aurora Office Automation Corporation General Integration Technology Co., Ltd. KM Developing Solutions Co., Ltd. Ever Young Biodimension Corporation Huxen Corporation Aurora Development Corp. Aurora Telecom Co., Ltd. Huxen Corporation Ever Young Biodimension Corporation	Bermuda Taiwan Taiwan Taiwan Taiwan Taiwan Taiwan Taiwan Taiwan Taiwan	Investment holding Import/export and wholesale of MFPs Manufacturing of molds and machinery and wholesale of precision instruments Wholesale and retail of information software, computers, and office equipment Wholesale of precision instruments Agency of MFPs and communications products Development of land and office buildings Sales of mobile phones and accessories and internet access Agency of MFPs and communications products Wholesale of precision instruments	$ 2,177,439 2,091,992 112,500 70,000 8,580 826,645 140,000 191,833 359,451 8,250	$ 2,177,439 2,091,992 112,500 70,000 8,580 826,645 140,000 191,833 359,451 8,250	67,350 82,278 5,465 7,000 858 47,011 32,498 13,165 11,170 825	88.04 91.13 55.00 70.00 26.00 32.53 46.67 30.40 7.73 25.00	$ 7,251,552 1,041,842 135,992 117,092 3,575 1,319,560 472,883 188,906 510,053 3,440	$ 391,749 266,852 14,351 40,446 513 490,289 61,209 ( 18,204 ) 490,289 513	$ 355,879 190,301 7,893 28,312 132 155,491 28,243 ( 5,534 ) 37,899 127	$ - - - - - - - - - -	$ 572,363 255,061 5,465 23,100 - 169,238 26,973 - 40,212 -	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Investee accounted for using the equity method Investee accounted for using the equity method Investee accounted for using the equity method Investee of Aurora Office Automation accounted for using the equity method Investee of General Integration accounted for using the equity method

Table 7

Aurora Corporation and Subsidiaries

Information on Investments in Mainland China For the Year Ended December 31, 2023

Unit: NT$ thousand, US$ thousand, and RMB thousand unless specified otherwise

Investee Company	Main Business Activities	Paid-in Capital	Method of Investments	Accumulated Amount of Investments Remitted from Taiwan at Beginning of Period	Amount of Investments Remitted or Repatriated for the Period	Amount of Investments Remitted or Repatriated for the Period	Amount of Investments Remitted or Repatriated for the Period	Accumulated Amount of Investments Remitted from Taiwan at End of Period	Profit (Loss) of Investee for the Period	The Company's Direct or Indirect Ownership (%)	Investment Profit (Loss) Recognized (Note 2)	Carrying Amount of Investments at End of Period	Accumulated Investment Income Repatriated at End of Period
					Remitted		Repatriated
Aurora (China) Investment Co., Ltd. Aurora Office Equipment Co., Ltd. Shanghai Aurora (China) Co., Ltd. Aurora Office Automation Sales Co., Ltd. Shanghai Aurora (Shanghai) Cloud Technology Co., Ltd. Huxen (China) Co., Ltd. Chongqing Gonggangzhihui Additive Manufacturing Technology Research Institute Co., Ltd. Aurora Home Furniture Co., Ltd. Aurora Machinery Equipment (Shanghai) Co., Ltd. Aurora (Jiang Su) Enterprise Development Co., Ltd. Aurora (Shanghai) Electronic Commerce Co., Ltd.	Investment holding Production and sales of MFPs Manufacturing and sale of office furniture Sales, lease, and agency of Aurora brand products Sale of printing and office equipment and furniture and consulting service Sales, maintenance, and lease of printers Sales, lease, and maintenance of 3D printers Production and sales of furniture Wholesale of mechanical and electronic equipment, internet communication equipment, and computer software and hardware Reinvestment and property lease Sales on e-commerce platforms	$ 2,569,980 ( US$ 76,500 ) 1,121,340 ( US$ 33,000 ) 1,007,266 ( US$ 30,000 ) 1,603,064 ( RMB$ 350,000 ) 47,110 ( RMB$ 10,000 ) 1,922,054 ( RMB$ 400,000 ) 114,700 ( RMB$ 25,000 ) 243,020 ( RMB$ 50,000 ) 112,549 ( RMB$ 25,000 ) 1,322,900 ( RMB$ 300,000 ) 43,250 ( RMB$ 10,000 )	Note 1 (2) Note 1 (2) Note 1 (2) Note 1 (2) Note 1 (3) Note 1 (1) Note 1 (3) Note 1 (3) Note 1 (1) Note 1 (2) Note 1 (2)	$ 2,177,439 ( US$ 67,350 ) Note 3 Note 3 Note 3 Note 3 583,044 ( RMB$ 120,000 ) Note 3 Note 3 112,549 ( RMB$ 25,000 ) Note 3 Note 3	$	- - - - - - - - - - -	$ - - - - - - - - - - -	$ 2,177,439 ( US$ 67,350 ) Note 3 Note 3 Note 3 Note 3 583,044 ( RMB$ 120,000 ) Note 3 Note 3 112,549 ( RMB$ 25,000 ) Note 3 Note 3	$ 391,193 23,997 353,088 180,700 10,826 66,914 ( 13,155 ) 39,550 53 4,719 ( 4,587 )	88.04 88.04 88.04 88.04 88.04 27.34 25.89 88.04 86.50 88.04 61.63	$ 344,406 (Note 2) 2 21,127 (Note 2) 2 310,859 (Note 2) 2 159,089 (Note 2) 2 9,531 (Note 2) 2 20,074 (Note 2) 2 ( 2,631 ) (Note 2) 2 34,820 (Note 2) 2 37 (Note 2) 2 4,154 (Note 2) 2 ( 2,827 ) (Note 2) 2	$ 8,448,290 1,165,997 5,287,685 1,894,893 33,257 715,861 - 272,891 24,402 1,320,133 ( 20,778 )	$ 477,436 37,879 297,776 372,155 - - - 238,480 - 4,453 -

Accumulated Amount of Investments Remitted from Taiwan to Mainland China at End of Period (Note 4)			Amount of Investments Authorized by Investment Commission, M.O.E.A. (Note 4)			Ceiling on Amount of Investments Stipulated by Investment Commission, M.O.E.A. (Note 5)
$2,837,032 (US$ 67,350`、`RMB$ 145,000)			$2,881,734 (US$ 67,350`、`RMB$ 145,000)			$5,224,858

Note 1. Methods of investments are divided into the following three types. Specify the type.

Direct investment in mainland China.
Investment in mainland China through Aurora (Bermuda) Investment Ltd.
Others.

Note 2. Investment profit (loss) recognized for the period:

Indicate if no investment profit (loss) is recognized as an investee is under preparation.
Indicate if investment profit (loss) is recognized on the following basis:
- (1) Financial statements audited by international accounting firms cooperating with accounting firms in the Republic of China.
- (2) Financial statements audited by the parent company's CPAs in Taiwan.
- (3) Others.
Note 3. The Company invested in Aurora (China) Investment Co., Ltd. directly through Aurora (Bermuda) Investment Ltd. (with 88.04% equity held by the Company) established in Bermuda. Aurora (China) Investment Co., Ltd. then invested in Aurora (Jiang Su) Enterprise Development Co., Ltd., Aurora Office Equipment Co., Ltd. Shanghai, and Aurora (China) Co., Ltd. Then, Aurora (China) Co., Ltd. invested in Aurora Office Automation Sales Co., Ltd. Shanghai, Aurora Home Furniture Co., Ltd., Aurora (Shanghai) Cloud Technology Co., Ltd., and Aurora (Shanghai) Electronic Commerce Co., Ltd. Then, Aurora Office Automation Sales Co., Ltd. Shanghai invested in Chongqing Gonggangzhihui Additive Manufacturing Technology Research Institute Co., Ltd.
Note 4. Based on the prevailing exchange rate approved by the Investment Commission, Ministry of Economic Affairs, the accumulated amount of investments remitted from Taiwan to mainland China in the foreign currency at the end of the period did not exceed the amount of investments in the foreign currency approved by the Investment Commission.
Note 5. The net worth of the Group as of December 31, 2023 was NT$8,708,097 thousand. In accordance with the "Directions Governing the Examination of Investment or Technical Cooperation in Mainland China," the cap amount should be NT$5,224,858 thousand (NT$8,708,097 thousand x 60%).

Table 8

Aurora Corporation and Subsidiaries

Major Transactions with Any Investee Company in mainland China Directly or Indirectly through a Third Region, and Their Prices, Payment terms, Unrealized Gains (Losses), and Other Information For the Year Ended December 31, 2023

(In Thousands of New Taiwan Dollars)

Investee Company	Relationship with the Company	Type of Transaction	Amount		Transaction Term		Notes and Accounts Receivable (Payable)	Notes and Accounts Receivable (Payable)	Unrealized gains (losses)	Remark
				Price	Payment Terms	Difference with General Transactions	Balance	Percentage (%) (Note)
Aurora Office Automation Sales Co., Ltd. Shanghai Aurora Office Equipment Co., Ltd. Shanghai Aurora (China) Co., Ltd.	The Company's sub- subsidiary The Company's sub- subsidiary The Company's sub- subsidiary	Sales Sales Purchase of goods	( $ 888,274 ) ( 1,068,759 ) 121,731	According to market conditions According to market conditions According to market conditions	Due within 120 days Due within 120 days Due within 120 days	No material difference No material difference No material difference	$ - 55,330 ( 3,883 )	- 72% - -	$ - - -

Note: The above percentage is calculated as the ratio of the balance of notes and accounts receivable (payable) with related parties to the balance of total notes and accounts receivable (payable).

Table 9

Aurora Corporation and Subsidiaries

Information on Major Shareholders December 31, 2023

December 31, 2023
Name of Major Shareholders	Shareholding
	Shares	Percentage of Ownership (%)
Aurora Holdings Incorporated	101,856,312	43.12%
Chen Yung-Tai	21,834,000	9.24%
Aurora Leasing Corporation	20,791,276	8.80%
Nisheng Investment Co., Ltd.	12,514,797	5.29%
Aurora Office Automation Corporation	12,496,797	5.29%

Note 1. The major shareholders in this table are shareholders holding more than 5% of the common and preferred shares that have completed delivery without physical registration (including treasury shares) on the last business day of each quarter calculated by the Taiwan Depository & Clearing Corporation. Share capital indicated in the Company's financial statements may differ from the actual number of shares that have been issued and delivered without physical registration as a result of different basis of preparation.
Note 2. If a shareholder delivers its shareholdings to the trust, the aforesaid information shall be disclosed by the individual trustee who opened the trust account. Please refer to MOPS for information on shareholders who declare themselves to be insiders holding more than 10% of shares in accordance with the Securities and Exchange Act, and their shareholdings including their shareholdings plus their delivery of trust and shares with the right to make decisions on trust property.

AI assistant

Aurora — Annual Report 2023

52038_rns_2023-11-14_418c314c-4602-40d0-b4bc-cdc3d34ca835.pdf

Aurora Corporation and Subsidiaries

Consolidated Financial Statements and Independent Auditors' Report

§Table of Contents§

Notice to readers

Declaration of Consolidated Financial Statements of Affiliates

Independent Auditors' Report

To Aurora Corporation:

Opinions

Basis for Opinions

Key Audit Matters

Sales revenue

Other Matters

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Auditors' Responsibilities for the Audit of the Consolidated Financial Statements

Aurora Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income For the Years Ended December 31, 2023 and 2022

(Continued from the previous page)

Aurora Corporation and Subsidiaries Consolidated Statements of Changes in Equity For the Years Ended December 31, 2023 and 2022

Aurora Corporation and Subsidiaries Consolidated Statements of Cash Flows For the Years Ended December 31, 2023 and 2022 (In Thousands of New Taiwan Dollars)

(Continued from the previous page)

Aurora Corporation and Subsidiaries

Notes to Consolidated Financial Statements

1. Company History

2. Date of Authorization for Issuance of the Consolidated Financial Statements and Procedures for Authorization

3. Application of New and Amended Standards and Interpretations

4. Summary of Significant Accounting Policies

f. Inventories

j. Goodwill

5. Primary Sources of Uncertainties in Material Accounting Judgments, Estimates, and Assumptions

6. Cash

7. Financial Instruments at Fair Value through Profit or Loss

8. Financial Assets at Amortized Cost - Current

9. Other Financial Assets - Non-current

10. Notes Receivables, Accounts Receivables, and Other Receivables

Accounts receivable

December 31, 2023

December 31, 2022

11. Inventories

12. Subsidiaries

(Continued from previous page)

(Continued from previous page)

13. Investments Accounted for Using the Equity Method

Huxen Corporation

14. Property, plant, and equipment

a. For self-use

15. Lease Agreements

b. Lease liabilities

16. Investment property

a. Goodwill

18. Other Assets

19. Loans

December 31, 2022

20. Accounts payable

21. Other Liabilities

a. Other payables

22. Post-retirement Benefit Plan

a. Defined contribution plans

b. Defined benefit plans

23. Equity

b. Capital surplus

e. Other equity items

24. Revenue

25. Net Income

c. Finance costs

Estimated percentage

26. Income Tax

d. Deferred income tax assets and liabilities

27. Earnings per Share

28. Government subsidies

29. Capital Risk Management

30. Non-cash Transactions

31. Financial instruments

Sensitivity analysis

Sensitivity analysis

December 31, 2023

32. Related Party Transactions

c. Purchase of goods

Aurora Annual Report 2023