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BESTA — AGM Information 2026
Jun 5, 2026
52727_rns_2026-06-05_23c8603c-314f-47d8-9f64-12d74b22ad59.pdf
AGM Information
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Stock Code: 8201
INVENTEC BESTA Company Limited
2026 Annual General Shareholders’ Meeting Minutes (Translation)
Type of Meeting: Physical Meeting
Time and Date: 9:00 a.m., Friday, May 22, 2026
Place: B1, No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist., Taipei City 111, Taiwan
Chientan Youth Activity Center (Xinyue Hall)
Attending Shareholders: The total number of shares represented by shareholders attending the meeting in person or by proxy is 35,465,147 shares (including 27,376,445 shares casted electronically), representing 56.86% of total outstanding shares of 62,366,275.
Chairman: Jen-Jye Yang, the Chairman of the Board of Directors
Recorder: Yi-Ting Liu
Directors present: Jen-Jye Yang (Director), Ping-Jung Tseng (Director), Yiu-Lang Chang (Director), Wei-Cheng Lee (Director), Chin-Tasi Chen (Independent Director) and Ming-Zhang Lai (Independent Director)
(All six directors attended in person)
Attendees: Ying-Ju Chen (CPA, KPMG) and Shin-Chun Sun (Attorney)
I. Commencement
The aggregate shareholding of the shareholders present in person or by proxy constituted a quorum. The Chairman called the meeting to order.
II. Chairman’s Address (omitted)
III. Report Items
-
2025 Business Report (See Attachment)
Acknowledged by all of the present shareholders. -
Audit Committee’s Review Report (See Attachment)
Acknowledged by all of the present shareholders.
IV. Ratification Items
Item 1
Proposed by the Board
Proposal: Ratification of Individual Financial Statements, Consolidated Financial Statements, and Business Report for Year 2025.
Explanation: (1) The compilation of the Company's 2025 Individual Financial Statements and Consolidated Financial Statements were audited by independent accountants, Ying-Ju Chen and Rou-Lan Kuo of KPMG Certified Public Accountants, also Business Report and Financial Statements had been resolved by the Board of Directors and reviewed by the Audit Committee of Inventec Besta Co., Ltd, please refer to the balance sheet, comprehensive income statement, statement of changes in equity, statements of cash flows and 2025 Business Report as attached.
(2) The case is hereby submitted for ratification.
Proceedings: No suggestions or questions were raised by any shareholders.
Voting Results:
35,465,147 shares were represented at the time of voting (including casted electronically)
| Voting method | on site | e-voting | Total | Percentage |
|---|---|---|---|---|
| Votes in favor | 7,590,702 | 27,230,851 | 34,821,553 | 98.18% |
| Votes against | 0 | 48,196 | 48,196 | 0.13% |
| Votes invalid | 0 | 0 | 0 | 0.00% |
| Votes abstained | 498,000 | 97,398 | 595,398 | 1.67% |
RESOLVED, that the above proposal was hereby approved as proposed.
Item 2
Proposed by the Board
Proposal: Ratification of the Proposal for 2025 Deficit Compensation.
Explanation: (1) The 2025 Deficit Compensation had been resolved by the Board of Directors and reviewed by the Audit Committee, please refer to the 2025 Deficit Compensation Statement as attached.
(2) The Company had an accumulated deficit of NT$39,338,645 at the beginning of the period. The deficit after tax for the fiscal year 2025 was NT$22,017,283. It was then adjusted by deducting NT$698,555 for the 2025 remeasurement loss of defined benefit plans and NT$153,918,026 for the disposal of investments in equity instruments designated at fair value through other comprehensive income. After transferring these amounts to retained earnings, the deficit to be compensated at the end of the year was NT$215,972,809.
(3) The case is hereby submitted for ratification.
Proceedings: No suggestions or questions were raised by any shareholders.
Voting Results:
35,465,147 shares were represented at the time of voting (including casted electronically)
| Voting method | on site | e-voting | Total | Percentage |
|---|---|---|---|---|
| Votes in favor | 7,590,702 | 27,224,266 | 34,814,968 | 98.16% |
| Votes against | 0 | 52,767 | 52,767 | 0.14% |
| Votes invalid | 0 | 0 | 0 | 0.00% |
| Votes abstained | 498,000 | 99,412 | 597,412 | 1.68% |
RESOLVED, that the above proposal was hereby approved as proposed.
V. Election Matters
Proposal: Proposes to Elect New Directors.
Proposed by the Board
Explanation: (1) The term of office of the current directors and independent directors of the Company will expire on June 14, 2026, and it is intended to elect all the Company's directors at this year's Annual Shareholders Meeting.
(2) In compliance with Article 16 of the Articles of Incorporation, the seven directors (including three independent directors) shall be elected. The shareholders shall elect the directors from the candidate list. Their three-year term will start from May 22, 2026, and conclude on May 21, 2029. The term of present directors will end until the shareholders' meeting is completed and For the "Procedures for Election of Directors" of the Company, please refer to the Meeting Agenda.
(3) Please refer to relevant information on the list of candidates for directors and independent directors approved by the Board of Directors on March 5, 2026, as follows:
List of Director Candidates:
| Name | Gender | Education & Previous Major Experience | Current Positions | Concurrent position in another company | Shareholding (shares) | Name of The Representing Government Agency or Institutional Investor |
|---|---|---|---|---|---|---|
| Yang, Jen-Jye (楊人捷) | Male | ●Master in Computer Science, University of Houston, USA. | ||||
| ●Chairman, HP Taiwan Information Technology Ltd. | ●Chairman, Inventec Besta Co., Ltd. | |||||
| ●Director, Inventec Besta (BVI) Co., Ltd. | ||||||
| ●Director, Inventec Besta (Cayman) Co., Ltd. | None | 0 | None |
| Name | Gender | Education & Previous Major Experience | Current Positions | Concurrent position in another company | Shareholding (shares) | Name of The Representing Government Agency or Institutional Investor |
|---|---|---|---|---|---|---|
| ●Corporate Vice President, HP Information Pte. Ltd. | ||||||
| ●Vice President, Hon Hai Precision Industry Co., Ltd. | ||||||
| ●Senior Vice President, Inventec Corp. | ●Chairman, Inventec Besta (XiAn) Co., Ltd. | |||||
| ●Chairman, Besta Digital Technology Co., Ltd. | ||||||
| Tseng, Ping-Jung (曾炳榮) | Male | ●Master in Business Administration, National Taiwan University of Science and Technology. | ||||
| ●Senior Vice President, Inventec Corp. | ||||||
| ●Chairman of Inventec Besta Co., Ltd. | ●Director, Inventec Besta Co., Ltd. | |||||
| ●Director, Besta Digital Technology Co., Ltd. | ||||||
| ●Director and President of Safe Save Medical Cell Sciences & Technology Co., Ltd. | ●Director and President of Safe Save Medical Cell Sciences & Technology Co., Ltd. | 23,404,962 | Inventec Corp. |
5
List of Independent Director Candidates:
(4) The case is hereby submitted for election.
Election Results:
The list of the newly elected directors with indication of votes received by each was listed as below:
| Title | Name | Votes Received |
|---|---|---|
| Director | Yang, Jen- Jye | 38,296,441 |
| Director | Inventec Corp. Representative: Tseng, Ping-Jung | 35,161,819 |
| Director | Chang, Yiu-Lang | 34,396,681 |
| Director | Lee, Wei-Cheng | 33,463,366 |
| Independent Director | Chen, Chin-Tasi | 34,072,327 |
| Independent Director | Chen, Rui-Zhu | 33,365,566 |
| Independent Director | Liao, Cing-Syong | 33,092,127 |
VI. Other Proposals
Proposed by the Board
Proposal: Proposal for Release the Prohibition on New Directors and Their Representatives from Participation in Competitive Business.
Explanation: (1). According to provisions of Company Act Article 209, a director who does anything for himself or on behalf of another person that is within the scope of the Company's business, shall explain to the meeting of shareholders the essential contents of such an act and secure its approval.
(2). In order to leverage the expertise and relevant experience of the Company's directors, it is proposed to seek approval from the annual general meeting of shareholders to lift the non-compete restrictions from the date of their appointment. For the scope of the release of non-compete restrictions for newly appointed directors, please refer to the details of positions listed under the "Concurrent Positions" column in the roster of director and independent director candidates in this Meeting Agenda, as shown in the table below.
| Position | Name | Concurrent position in another company |
|---|---|---|
| Director | Tseng, Ping-Jung (曾炳榮) | ●Director and President of Safe Save Medical Cell Sciences & Technology Co., Ltd. |
| Director | Chang, Yiu-Lang (張右廉) | ●Senior Vice President, Inventec Corp. ●Director and President of InveneXt System Co., Ltd. |
| Position | Name | Concurrent position in another company |
|---|---|---|
| Independent Director | Chen, Chin-Tasi (陳進財) | ●Chairman, WIN Semiconductors Corp. and its affiliated subsidiaries ●Chairman, ITEQ Corp. and its affiliated subsidiaries ●Chairman, The Paper Windmill Arts and Educational Foundation, Taiwan ●Director, HIWIN Technologies Corp. ●Director, Taiwan New Economy Foundation ●Corporate Director Representative, Gene & Stem Biomedical Company ●Honorary Director, ESG World Citizens & Digital Governance Foundation ●Supervisor, Excellence Sporting Goods Co., Ltd. ●Supervisor, Comax Sporting Goods Co., Ltd. |
| Independent Director | Chen, Rui-Zhu (陳瑞珠) | ●Chairman, Chuchu labor law consultant Co., Ltd. ●Independent Director and Member of Remuneration Committee, Yi Chun Green Technology Co., Ltd. ●Independent Director and Member of Remuneration Committee, Foxwell Power Co., Ltd. ●Independent Director and Member of Remuneration Committee, Iscom Online International Information Inc. |
(3). The case is hereby submitted for discussion.
VII. Extraordinary Motions
Proceedings: There being no extraordinary motions.
VIII. Meeting Adjourn
The meeting was adjourned at 9:22 a.m..
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Attachment
INVENTEC BESTACO., LTD.
2025 Business Report
Ladies and gentlemen,
1.1 2025 Business Report
In 2025, the consolidated operating revenue was NT$ 472,122 thousand, an increase of 1.42% compared to 2024 consolidated operating revenue NT$465,529 thousand; meanwhile, the consolidated operating loss was NT$ 34,273 thousand, a decrease in loss of NT$ 44,210 thousand, or 56.33% compared with previous year. In addition, the net non-operating income of NT$12,255 thousand, and the net loss after tax was NT$22,018 thousand, a decrease of 32,569 thousand compared to 2024 net loss after tax NT$ 54,587 thousand, consolidated loss per share after tax was NT$0.35 in 2025.
In 2025, the Company continued to dedicate itself to business transformation, and the investment of R&D resources. Meanwhile, by consolidating resources, the Company kept engaging in the business of smart devices and enterprise services.
1.1.1 Smart devices business:
-
OBM brand business: Regarding the market for electronic dictionaries, we still invest needed minimum human resources to integrate the business of development, production, and logistics, thus producing products that are tailored to needs and suitable for domestic sales or exports. That products in the Taiwan market are sold online and sales representative offline. As for the overseas market, the Company mainly considers the needs of the educational market in Singapore.
-
ODM/OEM manufacturing and research and development services: Upholding our commitment to serving ODM customers by leveraging research and development innovation, enhancing product quality, and strengthening the integration of manufacturing and production capabilities to effectively meet customer requirements.
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Automotive electronics components business: The Company will Expand automotive aftermarket product R&D and manufacturing, while continuing to develop rear-view cameras, RFID door handles, and parking sensors, have been successfully marketed through various automotive aftermarket channels and PDI customers in the United States. In addition, the Company has successfully achieved multiple camera products certified by the CAPA; such products have successfully penetrated the automotive insurance market. The Company will intensify collaboration with strategic partners simultaneously and provide customized camera for vehicle fleet management systems to expand business opportunities.
1.1.2 Enterprise services business:
ICT, Cloud Services and the distributor of AI server products remain the core of the enterprise service business with focus on platforms solutions and customized software development project.
- ICT, Cloud Services and the distributor of AI server products: The Company will focus on the sales of existing major brand servers, AI servers, networking equipment, and storage servers, while also providing planning and construction services for public cloud, private cloud, hybrid cloud, AI platforms, and high efficiency computing platforms.
- Smart manufacture and traffic surveillance and control system: Actively collaborating with partners to deliver platform-based solutions, while providing in-depth customized software development services.
- Software Business: Sales of our proprietary Dr.eye products and the agency brand WPS are stable. We look forward to expanding the integrated application of our software and hardware products and services in multiple fields.
In 2025, the consolidated research and development expenses were NT$73,136 thousand, constituting 15.49% of consolidated operating revenue and a decrease of 4.14% compared with the previous year.
1.2 Business plan summary and the Company's development strategy in the future in 2026
In 2026, the Company will focus on the value brought by the smart devices business and enterprise services business and consolidate itself based on the foundation laid in 2025.
On smart devices business, the Company will keep investing in research and development, diversifying its automotive electronic components and penetrate the global markets, and improving every aspect of services from research and development, production, logistics, and customer service to provide customers with better services.
On enterprise services business, the Company will continue to broaden and deepen its integration services for enterprises; focus on the establishment of platforms like public cloud, private cloud, hybrid cloud, AI platforms, the high efficiency computing platforms by making use of components like ICT, cloud-based services and AI; provide total solutions regarding vertical industries on the platforms; and expand the agency business and sales of enterprise application software.
The Company's development strategy in the future will focus on the following:
1.2.1 Product research and development strategy:
-
On the smart devices business front, the Company will focus on automotive electronic components, continuing to promote PDI channels and collaboration in both OE (Pre-market) and Aftermarket segments with our partners. By emphasizing product quality certification and cost-effectiveness, aiming to expand our market reach.
-
On the enterprise services business front, the Company will focus on products and services featuring an integration of the most cutting-edge technologies, e.g., ICT, cloud service, and AI.
1.2.2 Marketing strategy:
-
On the smart devices business front, with respect to automotive electronic components, the Company will continue to work with strategic partners to expand PDI distribution channels and automotive before and after cooperation. Emphasize product quality certification and price-performance ratio to further broaden distribution channels.
-
On enterprise services business front, the Company will intensify collaboration with industry peers on marketing and promote the awareness of key products and professional service capability.
-
On the front of quality and service front, the Company will insist on the pursuit of satisfaction with its quality and services. The Company will emphasize complete and excellent one-stop service, so as to earn trust from corporate customers.
1.2.3 Production and sales strategy:
The Company will, by leveraging own factories and working with subcontractor's factories, take hold of the research and development business and outsource the production; attach special importance to new product introduction and quality assurance; meet the stringent requires of customers in Global regarding quality certification; and strive to create product differentiation in order to increase the Company's profits.
1.3 The effect of external competition, the legal environment, and the overall business environment.
Facing the challenges arising from soaring new technological application and volatile international economic and political situations, the Company will aggressively transform and remake itself. Facing changes in the general environment, the Company will still uphold the principle of ethical corporate management and continue to accelerate product transformation, so as to create value for the Company. With the efforts from the team, the Company hope to make profits from its core business and give back to shareholders.
Chairman: Yang, Jen-Jye
President: Lee, Wei-Cheng
Accounting Officer: Hong, Yu-Yen
Attachment
INVENTEC BESTA CO., LTD.
Audit Committee’s Review Report
The Board of Directors has prepared and submitted to us the Company’s 2025 Business Report, Financial Statements, and proposal for Deficit Compensation Statement. The Financial Statements have been audited, certified, and issued an audit report by Lien, Shu-Ling and Kuo, Rou-Lan of KPMG Certified Public Accountants. The Business Report, Financial Statements, and proposal for Deficit Compensation Statement have been reviewed and determined to be correct and accurate by the Audit Committee members. According to Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act, we hereby submit this report.
Inventec Besta Co., Ltd.
Convener of the Audit Committee: Chen, Chin-Tasi
March 05, 2026
15
Independent Auditors' Report
To the Board of Directors of Inventec Besta Co., Ltd.:
Opinion
We have audited the financial statements of Inventec Besta Co., Ltd. (“the Company”), which comprise the balance sheet as of December 31, 2025 and 2024, the statement of comprehensive income, changes in equity and cash flows for the years ended December 31, 2025 and 2024, and notes to the financial statements, including a summary of material accounting policies.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2025 and 2024, and its financial performance and its cash flows for the year then ended December 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.
Basis for Opinion
We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Account of Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis of 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 financial statements of the current period. These matters were addressed in the context of our audit of the 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 Company’s financial statements are stated as follows:
1. Impairment assessment of accounts receivable
For accounting policies of impairment assessment of assets, please refer to Note 4(f) “Financial instruments”, Note 6(c) “Notes and accounts receivable” and Note 6(d) “Other receivables” of the parent company only financial statements for details on the information about impairment assessment
Description of key audit matter
The Company is based on knowing the customer, historical trend, and implementation of the forward-looking estimates assessments regarding overdue accounts. Impairment assessment of accounts receivable is the key audit matters for our audit due to factors such as the reasons for cause for overdue and the type of customer, different judgments are made, such professional judgments involve subjectivity and a high degree of uncertainty.
16
17
How the matter was addressed in our audit
In relation to the key audit matter above, our principal audit procedures included understanding the relevant policy for accounts receivable, assessing the reasonableness of valuation method and data sources, inspecting whether accounts receivable’s reserves and provision base on policies; obtaining and understanding the adopted data documents used for the assessment of individual overdue accounts whether it is reasonable; inspecting status of the collection during the subsequent period, so as to verify whether the allowance for accounts receivable is properly at the balance sheet date.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company 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 the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
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Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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Obtain sufficient appropriate audit evidence regarding the financial information of the investment in other entities accounted for using the equity method to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the audit.
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 those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
The engagement partners on the audit resulting in this independent auditors’ report are Chen, Ying-Ju and Kuo, Rou-Lan.
KPMG
Taipei, Taiwan (Republic of China)
March 5, 2026
Notes to Readers
The accompanying parent company only financial statements are intended only to present the financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such parent company only financial statements are those generally accepted and applied in the Republic of China.
The independent auditors’ report and the accompanying parent company only financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ report and parent company only financial statements, the Chinese version shall prevail.
(English Translation of Parent Company Only Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD.
Balance Sheets
December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| Assets Current Assets: | December 31, 2025 | December 31, 2024 | Liabilities and equity | December 31, 2025 | December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Amount | % | Amount | % | Current Liabilities: | Amount | % | Amount | % | ||||
| 1100 | Cash and cash equivalents (Note 6(a)) | $ 220,184 | 32 | 219,158 | 35 | 2130 | Current contract liabilities (Note 6(p)) | $ 11,421 | 2 | 19,405 | 3 | |
| 1140 | Current contract assets (Note 6(p)) | 3,642 | 1 | 2,197 | - | 2170 | Accounts payable (Note 7) | 106,880 | 16 | 45,491 | 7 | |
| 1170 | Accounts receivable, net (Note 6(c)) | 52,608 | 8 | 36,986 | 6 | 2200 | Other payables (Note 7) | 62,417 | 9 | 45,934 | 7 | |
| 1180 | Accounts receivable due from related parties, net (Note 6(c) and 7) | 1,750 | - | 1,473 | - | 2280 | Current lease liabilities (Note 6(k) and 7) | 2,378 | - | 4,032 | 1 | |
| 1200 | Other receivables (Note 6(d) and 7) | 43,446 | 6 | 21,874 | 4 | 2300 | Other current liabilities | 4,171 | 1 | 2,245 | - | |
| 1220 | Current tax assets | 1,241 | - | 687 | - | 187,267 | 28 | 117,107 | 18 | |||
| 130X | Inventories (Note 6(e)) | 56,794 | 8 | 52,126 | 8 | Non-current Liabilities: | ||||||
| 1476 | Other current financial assets (Note 6(j) and 8) | 42,352 | 6 | 27,799 | 4 | 2570 | Deferred tax liabilities (Note 6(m)) | 13,267 | 2 | 13,169 | 2 | |
| 1479 | Other current assets, others (Note 6(j)) | 12,123 | 3 | 14,001 | 3 | 2580 | Non-current lease liabilities (Note 6(k) and 7) | 7,196 | 1 | 14,323 | 2 | |
| 434,140 | 64 | 376,301 | 60 | 2640 | Net defined benefit liability, non-current (Note 6(l)) | 11,966 | 2 | 12,588 | 2 | |||
| Non-current Assets: | 2670 | Other non-current liabilities, others | 2,527 | - | 3,040 | 1 | ||||||
| 1517 | Non-current financial assets at fair value through other comprehensive income (Note 6(b)) | 42,120 | 6 | 31,413 | 5 | 34,956 | 5 | 43,120 | 7 | |||
| 1550 | Investments accounted for using equity method (Note 6(f)) | 76,342 | 12 | 80,066 | 13 | Total liabilities | 222,223 | 33 | 160,227 | 25 | ||
| 1600 | Property, plant and equipment (Note 6(g)) | 104,865 | 15 | 108,839 | 17 | |||||||
| 1755 | Right-of-use assets (Note 6(h)) | 9,440 | 1 | 18,673 | 3 | Equity attributable to owners of parent: (Note 6(n)) | ||||||
| 1780 | Intangible assets (Note 6(i)) | 9,170 | 1 | 9,714 | 1 | 3100 | Capital stock | 623,663 | 91 | 623,663 | 99 | |
| 1980 | Other non-current financial assets (Note 6(j) and 8) | 7,239 | 1 | 5,769 | 1 | 3200 | Capital surplus | - | - | 12,047 | 2 | |
| 249,176 | 36 | 254,474 | 40 | 3351 | Accumulated profit and loss | (215,973) | (32) | (51,387) | (8) | |||
| 3400 | Other equity | 53,403 | 8 | (113,775) | (18) | |||||||
| Total equity | 461,093 | 67 | 470,548 | 75 | ||||||||
| Total assets | $ 683,316 | 100 | 630,775 | 100 | Total liabilities and equity | $ 683,316 | 100 | 630,775 | 100 |
See accompanying notes to parent company only financial statements.
(English Translation of Parent Comapny Only Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD.
Statements of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| For the years ended December 31, | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Amount | % | Amount | % | ||
| 4000 | Operating revenue (Notes 6(p) and 7) | $ 465,656 | 100 | 458,768 | 100 |
| 5000 | Operating costs (Note 6(e)) | (362,157) | (78) | (384,044) | (84) |
| Gross profit from operations | 103,499 | 22 | 74,724 | 16 | |
| Operating expenses: | |||||
| 6100 | Selling expenses | (37,083) | (8) | (42,487) | (9) |
| 6200 | Administrative expenses | (40,539) | (9) | (40,097) | (9) |
| 6300 | Research and development expenses | (58,063) | (12) | (58,722) | (13) |
| 6450 | Expected credit (loss) reversal gain | 4,901 | 1 | (5,483) | (1) |
| Total operating expenses | (130,784) | (28) | (146,789) | (32) | |
| Net operating loss | (27,285) | (6) | (72,065) | (16) | |
| Non-operating income and expenses: | |||||
| 7100 | Interest income (Note 6(r)) | 5,960 | 1 | 5,936 | 1 |
| 7010 | Other income (Note 6(r)) | 7,321 | 2 | 6,321 | 1 |
| 7020 | Other gains and losses (Note 6(r)) | (3,780) | (1) | 11,039 | 2 |
| 7050 | Finance costs (Note 6(r)) | (720) | - | (452) | - |
| 7060 | Share of (loss) gain of subsidiaries and associates accounted for using equity method (Note 6(f)) | (3,514) | (1) | (2,177) | 1 |
| Total non-operating income and expenses | 5,267 | 1 | 20,667 | 5 | |
| 7900 | Loss from continuing operations before tax | (22,018) | (5) | (51,398) | (11) |
| 7950 | Less: Income tax expenses (Note 6(m)) | - | - | 3,189 | 1 |
| Loss | (22,018) | (5) | (54,587) | (12) | |
| Other comprehensive income (loss): | |||||
| 8310 | Items that may not be reclassified subsequently to profit or loss: | ||||
| 8311 | Gains (losses) on remeasurements of defined benefit plans | (698) | - | 2,639 | 1 |
| 8316 | Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income | 13,569 | 3 | 2,514 | - |
| 8330 | Share of other comprehensive income of subsidiaries accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss | (700) | - | (363) | - |
| 8349 | Less: Income tax related to components of other comprehensive income that will not be reclassified to profit or loss | - | - | - | - |
| Total items that may not be reclassified subsequently to profit or loss | 12,171 | 3 | 4,790 | 1 | |
| 8360 | Items that may be reclassified subsequently to profit or loss: | ||||
| 8361 | Exchange differences on translation of foreign financial statements | 490 | - | 3,141 | 1 |
| 8399 | Less: Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 98 | - | 13 | - |
| Total items that may be reclassified subsequently to profit or loss | 392 | - | 3,128 | 1 | |
| Other comprehensive income (loss), net of income tax | 12,563 | 3 | 7,918 | 2 | |
| 8500 | Total comprehensive income (loss) | $ (9,455) | (2) | (46,669) | (10) |
| Earnings per share (Note 6(o)) | |||||
| 9750 | Basic / Diluted earning (losses) per share (NT dollars) | $ | (0.35) | (0.88) |
See accompanying notes to parent company only financial statements.
(English Translation of Parent Company Only Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD.
Statements of Changes in Equity
For the Years Ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| Capital Stock | Retained Earnings | Other Equity | ||||||
|---|---|---|---|---|---|---|---|---|
| Share Capital | Capital Surplus | Legal Reserve | Special Reserve | Accumulated Deficits | Exchange Differences on Translation of Foreign Financial Statements | Unrealized Income (Losses) from Financial Assets Measured at Fair Value through Other Comprehensive Income | Total Equity | |
| Balance at January 1, 2024 | $ 623,663 | 82,159 | - | - | (70,112) | 44,501 | (162,994) | 517,217 |
| Net loss for the year | - | - | - | - | (54,587) | - | - | (54,587) |
| Other comprehensive income (loss) for the period | - | - | - | - | 2,639 | 3,128 | 2,151 | 7,918 |
| Total comprehensive income (loss) for the period | - | - | - | - | (51,948) | 3,128 | 2,151 | (46,669) |
| Appropriation and distribution of retained earnings: | ||||||||
| Capital surplus used to offset accumulated deficits | - | (70,112) | - | - | 70,112 | - | - | - |
| Disposal of investments in equity instruments designated at fair value through other comprehensive income | - | - | - | - | 561 | - | (561) | - |
| Balance at December 31, 2024 | 623,663 | 12,047 | - | - | (51,387) | 47,629 | (161,404) | 470,548 |
| Net loss for the year | - | - | - | - | (22,018) | - | - | (22,018) |
| Other comprehensive income (loss) for the period | - | - | - | - | (698) | 392 | 12,869 | 12,563 |
| Total comprehensive income (loss) for the period | - | - | - | - | (22,716) | 392 | 12,869 | (9,455) |
| Appropriation and distribution of retained earnings: | ||||||||
| Capital surplus used to offset accumulated deficits | - | (12,047) | - | - | 12,047 | - | - | - |
| Disposal of investments in equity instruments designated at fair value through other comprehensive income | - | - | - | - | (153,917) | - | 153,917 | - |
| Balance at December 31, 2025 | $ 623,663 | - | - | - | (215,973) | 48,021 | 5,382 | 461,093 |
(English Translation of Parent Company Only Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD.
Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| For the years ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from (used in) operating activities: | ||
| Loss before income tax | $ (22,018) | (51,398) |
| Adjustments: | ||
| Adjustments to reconcile profit (loss) | ||
| Depreciation expense | 8,438 | 12,978 |
| Amortization expense | 4,285 | 3,471 |
| Expected credit loss (reversal gain) | (4,901) | 5,483 |
| Interest expense | 720 | 452 |
| Interest income | (5,960) | (5,936) |
| Dividend income | (1,665) | (1,050) |
| Share of loss (gain) of subsidiaries and associates accounted for using equity method | 3,514 | 2,177 |
| Gains on disposal of property, plant and equipment | - | (367) |
| Gains on modification of lease | (104) | (23) |
| Total adjustments to reconcile profit (loss) | 4,327 | 17,185 |
| Changes in operating assets and liabilities: | ||
| Changes in operating assets: | ||
| Contract assets | (1,521) | (2,097) |
| Notes receivable | - | 5,158 |
| Accounts receivable | (16,246) | 58,798 |
| Other receivables | (16,015) | 6,267 |
| Inventories | (4,668) | (967) |
| Other current assets | 1,878 | (5,301) |
| Other financial assets | (12,830) | (14,205) |
| Total changes in operating assets | (49,402) | 47,653 |
| Changes in operating liabilities: | ||
| Contract liabilities | (7,984) | 5,222 |
| Accounts payable | 61,389 | (53,458) |
| Other payables | 17,182 | 8,162 |
| Other current liabilities | 1,926 | (1,837) |
| Net defined benefit liability | (1,320) | (2,552) |
| Total changes in operating liabilities | 71,193 | (44,463) |
| Total changes in operating assets and liabilities | 21,791 | 3,190 |
| Total adjustments | 26,118 | 20,375 |
| Cash generated from (used in) operations | 4,100 | (31,023) |
| Interest received | 5,994 | 5,881 |
| Dividends received | 1,665 | 1,050 |
| Interest paid | (720) | (452) |
| Income taxes paid | (554) | (492) |
| Net cash flows from (used in) operating activities | 10,485 | (25,036) |
| Cash flows from (used in) investing activities: | ||
| Proceeds from disposal of financial assets at fair value through other comprehensive income | 2,862 | 1,101 |
| Acquisition of property, plant and equipment | (1,141) | (7,045) |
| Acquisition of intangible assets | (4,515) | (3,777) |
| Decrease (increase) in other financial assets | (3,193) | 2,451 |
| Net cash flows used in investing activities | (5,987) | (7,270) |
| Cash flows from (used in) financing activities: | ||
| Decrease in guarantee deposits received | (513) | (530) |
| Payment of lease liabilities | (2,959) | (3,443) |
| Net cash used in financing activities | (3,472) | (3,973) |
| Net increase (decrease) in cash and cash equivalents | 1,026 | (36,279) |
| Cash and cash equivalents at beginning of period | 219,158 | 255,437 |
| Cash and cash equivalents at end of period | $ 220,184 | 219,158 |
22
Independent Auditors' Report
To the Board of Directors of Inventec Besta Co., Ltd.:
Opinion
We have audited the consolidated financial statements of Inventec Besta Co., Ltd. and its subsidiaries (“the Group”), which comprise the consolidated balance sheets as of December 31, 2025 and 2024, the consolidated statement of comprehensive income, changes in equity and cash flows for the years ended December 31, 2025 and 2024, and notes to the consolidated financial statements, including a summary of material accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the years ended December 31, 2025 and 2024, in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the International Financial Reporting Standards (“IFRSs”), International Accounting Standards (“IASs”), Interpretations developed by the International Financial Reporting Interpretations Committee (“IFRIC”) or the former Standing Interpretations Committee (“SIC”) endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.
Basis for Opinion
We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with The Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis of 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 the current period. 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 Group's financial statements are stated as follows:
1. Impairment assessment of accounts receivable
For accounting policies of impairment assessment of assets, please refer to Note 4(g) “Financial instruments”, Note 6(c) “Notes receivable and accounts receivable”, and Note6(d) “Other receivables” of the consolidated financial statements of the parent company only financial statements for details on the information about impairment assessment
24
Description of key audit matter
The Group is based on knowing the customer, historical trend, and implementation of the forward-looking estimates assessments regarding overdue accounts. Impairment assessment of accounts receivable is the key audit matters for our audit due to factors such as the reasons for cause for overdue and the type of customer, different judgments are made, such professional judgments involve subjectivity and a high degree of uncertainty.
How the matter was addressed in our audit
In relation to the key audit matter above, our principal audit procedures included understanding the relevant policy for accounts receivable, assessing the reasonableness of valuation method and data sources, inspecting whether accounts receivable’s reserves and provision base on policies; obtaining and understanding the adopted data documents used for the assessment of individual overdue accounts whether it is reasonable; inspecting status of the collection during the subsequent period, so as to verify whether the allowance for accounts receivable is properly at the balance sheet date.
Other Matter
Inventec Besta Co., Ltd. has prepared its parent-company-only financial statements as of and for the years ended December 31, 2025 and 2024, on which we have issued an unmodified opinion.
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the IFRSs, IASs, IFRIC, SIC endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
Those charged with governance (including the Audit Committee) are responsible for overseeing the Group’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit.
We 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 those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
25
The engagement partners on the audit resulting in this independent auditors’ report are Chen, Ying-Ju and Kuo, Rou-Lan.
KPMG
Taipei, Taiwan (Republic of China)
March 5, 2026
Notes to Readers
The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with the accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in the Republic of China.
The independent auditors’ report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ report and consolidated financial statements, the Chinese version shall prevail.
26
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD. AND SUBSIDIARIES
Consolidated Balance Sheets
December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| Assets | December 31, 2025 | December 31, 2024 | Liabilities and equity | December 31, 2025 | December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Amount | % | Amount | % | Amount | % | Amount | % | Amount | % | |||
| Current Assets: | ||||||||||||
| 1100 | Cash and cash equivalents (Note 6(a)) | $ 254,980 | 37 | 255,826 | 40 | 2130 | Current contract liabilities (Note 6(o)) | $ 11,421 | 2 | 19,405 | 3 | |
| 1140 | Current contract assets (Note 6(e)) | 3,642 | 1 | 2,197 | - | 2170 | Notes and accounts payable (Note 7) | 107,474 | 16 | 45,627 | 7 | |
| 1170 | Accounts receivable, net (Notes 6(c) and 7) | 55,137 | 8 | 39,106 | 6 | 2200 | Other payables (Note 7) | 65,127 | 9 | 48,229 | 7 | |
| 1200 | Other receivables(Notes 6(d) and 7) | 43,774 | 6 | 22,282 | 3 | 2280 | Current lease liabilities (Notes 6(j), (u) and 7) | 2,922 | - | 4,539 | 1 | |
| 1220 | Current tax assets | 1,241 | - | 687 | - | 2300 | Other current liabilities | 6,221 | 1 | 3,431 | 1 | |
| 130X | Inventories(Note 6(e)) | 57,547 | 8 | 52,126 | 8 | 193,165 | 28 | 121,231 | 19 | |||
| 1476 | Other current financial assets (Notes 6(i) and 8) | 77,423 | 11 | 62,104 | 11 | Non-current Liabilities: | ||||||
| 1479 | Other current assets, others (Note 6(j)) | 12,195 | 2 | 14,049 | 2 | 2570 | Deferred tax liabilities | 13,267 | 2 | 13,169 | 2 | |
| 505,939 | 73 | 448,377 | 70 | 2580 | Non-current lease liabilities (Notes 6(j), (u) and 7) | 9,403 | 1 | 17,133 | 3 | |||
| 2640 | Net defined benefit liability, non-current (Note 6(k)) | 11,966 | 2 | 12,588 | 2 | |||||||
| Non-current Assets: | 2670 | Other non-current liabilities, others | 3,572 | - | 4,079 | - | ||||||
| 1517 | Non-current financial assets at fair value through other comprehensive income (Note 6(b)) | 46,969 | 7 | 36,886 | 6 | 38,208 | 5 | 46,969 | 7 | |||
| 1600 | Property, plant and equipment (Note 6(f)) | 110,806 | 16 | 115,047 | 18 | 231,373 | 33 | 168,200 | 26 | |||
| 1755 | Right-of-use assets (Note 6(g)) | 12,153 | 2 | 22,025 | 3 | Total liabilities | ||||||
| 1780 | Intangible assets (Note 6(h)) | 9,170 | 1 | 9,714 | 2 | |||||||
| 1980 | Other non-current financial assets (Notes 6(i), 7 and 8) | 7,429 | 1 | 6,699 | 1 | Equity attributable to owners of parent: (Note 6(m)) | ||||||
| 186,527 | 27 | 190,371 | 30 | 3100 | Capital stock | 623,663 | 90 | 623,663 | 98 | |||
| 3200 | Capital surplus | - | - | 12,047 | 2 | |||||||
| 3300 | Retained earnings | (215,973) | (31) | (51,387) | (8) | |||||||
| 3400 | Other equity | 53,403 | 8 | (113,775) | (18) | |||||||
| Total equity | 461,093 | 67 | 470,548 | 74 | ||||||||
| Total liabilities and equity | $ 692,466 | 100 | 638,748 | 100 | ||||||||
| Total assets | $ 692,466 | 100 | 638,748 | 100 |
See accompanying notes to consolidated financial statements.
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
INVENTEC BESTA CO., LTD. AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)
| For the years ended December 31, | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Amount | % | Amount | % | ||
| 4000 | Operating revenue (Notes 6(o) and 7) | $ 472,122 | 100 | 465,529 | 100 |
| 5000 | Operating costs (Note 6(e)) | (356,339) | (75) | (376,783) | (81) |
| Gross profit from operations | 115,783 | 25 | 88,746 | 19 | |
| Operating expenses: | |||||
| 6100 | Selling expenses | (35,777) | (8) | (39,706) | (9) |
| 6200 | Administrative expenses | (46,044) | (10) | (45,743) | (10) |
| 6300 | Research and development expenses | (73,136) | (15) | (76,297) | (16) |
| 6450 | Expected credit reversal gain (loss) (Notes 6(c), (d) and (o)) | 4,901 | 1 | (5,483) | (1) |
| Total operating expenses | (150,056) | (32) | (167,229) | (36) | |
| Net operating loss | (34,273) | (7) | (78,483) | (17) | |
| Non-operating income and expenses (Note 6(q)): | |||||
| 7100 | Interest income | 6,662 | 1 | 6,859 | 1 |
| 7010 | Other income | 10,977 | 2 | 9,946 | 2 |
| 7020 | Other gains and losses | (4,465) | (1) | 10,894 | 2 |
| 7050 | Finance costs | (919) | - | (614) | - |
| Total non-operating income and expenses | 12,255 | 2 | 27,085 | 5 | |
| 7900 | Loss from continuing operations before tax | (22,018) | (5) | (51,398) | (12) |
| 7950 | Less: Income tax expenses (Note 6(l)) | - | - | 3,189 | 1 |
| Loss | (22,018) | (5) | (54,587) | (13) | |
| Other comprehensive income (loss): | |||||
| 8310 | Items that may not be reclassified subsequently to profit or loss | ||||
| 8311 | Gains (losses) on remeasurements of defined benefit plans | (698) | - | 2,639 | 1 |
| 8316 | Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income | 12,869 | 3 | 2,151 | - |
| 8349 | Less: Income tax related to components of other comprehensive income that will not be reclassified to profit or loss | - | - | - | - |
| Total items that may not be reclassified subsequently to profit or loss | 12,171 | 3 | 4,790 | 1 | |
| 8360 | Items that may be reclassified subsequently to profit or loss | ||||
| 8361 | Exchange differences on translation of foreign financial statements | 490 | - | 3,141 | 1 |
| 8399 | Less: Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 98 | - | 13 | - |
| Total items that may be reclassified subsequently to profit or loss | 392 | - | 3,128 | 1 | |
| Other comprehensive income (loss), net of income tax | 12,563 | 3 | 7,918 | 2 | |
| 8500 | Total comprehensive income (loss) | $ (9,455) | (2) | (46,669) | (11) |
| Earnings per share (Note 6(n)) | |||||
| 9750 | Basic / Diluted earning (losses) per share (NT dollars) | $ | (0.35) | (0.88) |
See accompanying notes to consolidated financial statements.
28
| Equity Attributable to Owners of Parent | ||||||||
|---|---|---|---|---|---|---|---|---|
| Capital Stock | Retained Earnings | Other Equity | Total Equity | |||||
| Share Capital | Capital Surplus | Legal Reserve | Special Reserve | Accumulated Deficits | Exchange Differences on Translation of Foreign Financial Statements | Unrealized Income (Losses) from Financial Assets Measured at Fair Value through Other Comprehensive Income | ||
| Balance at January 1, 2024 | $ 623,663 | 82,159 | - | - | (70,112) | 44,501 | (162,994) | 517,217 |
| Net loss for the year | - | - | - | - | (54,587) | - | - | (54,587) |
| Other comprehensive income (loss) for the period | - | - | - | - | 2,639 | 3,128 | 2,151 | 7,918 |
| Total comprehensive income (loss) for the period | - | - | - | - | (51,948) | 3,128 | 2,151 | (46,669) |
| Appropriation and distribution of retained earnings: | ||||||||
| Capital surplus used to offset accumulated deficits | - | (70,112) | - | - | 70,112 | - | - | - |
| Disposal of investments in equity instruments designated at fair value through other comprehensive income | - | - | - | - | 561 | - | (561) | - |
| Balance at December 31, 2024 | 623,663 | 12,047 | - | - | (51,387) | 47,629 | (161,404) | 470,548 |
| Net loss for the year | - | - | - | - | (22,018) | - | - | (22,018) |
| Other comprehensive income (loss) for the period | - | - | - | - | (698) | 392 | 12,869 | 12,563 |
| Total comprehensive income (loss) for the period | - | - | - | - | (22,716) | 392 | 12,869 | (9,455) |
| Appropriation and distribution of retained earnings: | ||||||||
| Capital surplus used to offset accumulated deficits | - | (12,047) | - | - | 12,047 | - | - | - |
| Disposal of investments in equity instruments designated at fair value through other comprehensive income | - | - | - | - | (153,917) | - | 153,917 | - |
| Balance at December 31, 2025 | $ 623,663 | - | - | - | (215,973) | 48,021 | 5,382 | 461,093 |
| For the years ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from (used in) operating activities: | ||
| Loss before income tax | $ (22,018) | (51,398) |
| Adjustments: | ||
| Adjustments to reconcile profit (loss) | ||
| Depreciation expense | 9,436 | 13,916 |
| Amortization expense | 4,285 | 3,471 |
| Expected credit (reversal gain) loss | (4,901) | 5,483 |
| Interest expense | 919 | 614 |
| Interest income | (6,662) | (6,859) |
| Dividend income | (1,665) | (1,050) |
| Gains on disposal of property, plant and equipment | - | (413) |
| Gain on modification of lease | (104) | (53) |
| Total adjustments to reconcile profit (loss) | 1,308 | 15,109 |
| Changes in operating assets and liabilities: | ||
| Changes in operating assets: | ||
| Contract assets | (1,521) | (2,097) |
| Notes receivable | - | 5,158 |
| Accounts receivable | (16,349) | 58,400 |
| Other receivables | (16,014) | 6,271 |
| Inventories | (5,419) | (558) |
| Other current assets | 1,855 | (5,760) |
| Other financial assets | (12,830) | (14,205) |
| Total changes in operating assets | (50,278) | 47,209 |
| Changes in operating liabilities: | ||
| Contract liabilities | (7,984) | 5,223 |
| Accounts payable | 61,845 | (53,547) |
| Other payables | 17,579 | 9,101 |
| Other current liabilities | 2,782 | (1,884) |
| Net defined benefit liability | (1,320) | (2,552) |
| Total changes in operating liabilities | 72,902 | (43,659) |
| Total changes in operating assets and liabilities | 22,624 | 3,550 |
| Total adjustments | 23,932 | 18,659 |
| Cash generated from (used in) operations | 1,914 | (32,739) |
| Interest received | 6,775 | 6,831 |
| Dividends received | 1,665 | 1,050 |
| Interest paid | (919) | (614) |
| Income taxes paid | (554) | (492) |
| Net cash flows from (used in) operating activities | 8,881 | (25,964) |
| Cash flows from (used in) investing activities: | ||
| Proceeds from disposal of financial assets at fair value through other comprehensive income | 2,862 | 1,101 |
| Acquisition of property, plant and equipment | (1,182) | (7,070) |
| Proceeds from disposal of property, plant and equipment | - | 46 |
| Acquisition of intangible assets | (4,515) | (3,777) |
| Decrease (increase) in other financial assets | (3,018) | 1,747 |
| Net cash flows used in investing activities | (5,853) | (7,953) |
| Cash flows from (used in) financing activities: | ||
| Payment of lease liabilities | (3,542) | (4,040) |
| Increase in other non-current liabilities | (513) | (200) |
| Net cash flows used in financing activities | (4,055) | (4,240) |
| Effect of exchange rate changes on cash and cash equivalents | 181 | 1,369 |
| Net increase (decrease) in cash and cash equivalents | (846) | (36,788) |
| Cash and cash equivalents at beginning of period | 255,826 | 292,614 |
| Cash and cash equivalents at end of period | $ 254,980 | 255,826 |
30
INVENTEC BESTACO., LTD.
Deficit Compensation Statement
2025
Unit: NTD $
| Items | Total Amount |
|---|---|
| Beginning accumulated deficit to be compensated | (39,338,645) |
| Less: Defined benefit plans remeasurement loss | (698,555) |
| Less: Disposal of investments in equity instruments designated at fair value through other comprehensive income | (153,918,026) |
| Less: Net loss after tax for 2025 | (22,017,583) |
| Deficit yet to be compensated at the end of the year | (215,972,809) |
Chairman: Yang, Jen-Jye
President: Lee, Wei-Cheng
Accounting Officer: Hong, Yu-Yen
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