CHC - Interim / Quarterly Report 2026

CHC Resources Corporation and Subsidiaries

Consolidated Financial Statements for the Six Months Ended June 30, 2025 and 2024 and Independent Auditors’ Review Report

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INDEPENDENT AUDITORS’ REVIEW REPORT

CHC Resources Corporation

Introduction

We have reviewed the accompanying consolidated balance sheets of CHC Resources Corporation (the “Corporation”) and its subsidiaries as of June 30, 2025 and 2024, and the related consolidated statements of comprehensive income for the three months and six months ended June 30, 2025 and 2024, and the consolidated statements of changes in equity and cash flows for the six months then ended June 30, 2025 and 2024, and the related notes to the consolidated financial statements, including material accounting policy information (collectively referred to as the “consolidated financial statements”). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission (FSC) of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Corporation and its subsidiaries as of June 30, 2025 and 2024, and of its consolidated financial performance for the three months and six months ended June 30, 2025 and 2024, and its consolidated cash flows for the six months ended June 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the FSC.

The engagement partners on the reviews resulting in this independent auditors’ review report are Yu-Shiang Liu and Chao-Chun Wang.

Deloitte & Touche Taipei, Taiwan Republic of China

August 6, 2025

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the Republic of China.

For the convenience of readers, the independent auditors’ review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ review report and consolidated financial statements shall prevail.

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

ASSETS CURRENT ASSETS Cash and cash equivalents (Note 6) Financial assets at fair value through other comprehensive income - current (Note 7) Contract assets - current (Notes 23 and 29) Notes receivable (Note 8) Accounts receivable (Note 8) Accounts receivable - related parties (Notes 8 and 29) Other receivables Other receivables - related parties (Note 29) Inventories (Note 9) Prepayments (Notes 10 and 29) Other financial assets - current (Notes 11 and 30) Refundable deposits - current (Note 15) Costs to fulfil a contract (Note 23) Other current assets Total current assets NONCURRENT ASSETS Financial assets at fair value through other comprehensive income - noncurrent (Note 7) Investments accounted for using the equity method (Note 13) Property, plant and equipment (Notes 14, 29, 30 and 32) Right-of-use assets (Notes 15, 29 and 30) Investment properties (Note 16) Intangible assets (Note 17) Deferred tax assets Prepayments for equipment Refundable deposits - noncurrent (Note 15) Other financial assets - noncurrent (Notes 11 and 30) Other noncurrent assets Total noncurrent assets TOTAL LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term borrowings (Note 18) Contract liabilities - current (Notes 23 and 29) Notes payable Accounts payable Accounts payable - related parties (Note 29) Payables on equipment Payables for dividends Other payables (Notes 4 and 19) Other payables - related parties (Notes 19 and 29) Current tax liabilities Lease liabilities - current (Notes 15 and 29) Guarantee deposits received - current Current portion of long-term borrowings (Notes 18 and 30) Other current liabilities Total current liabilities NONCURRENT LIABILITIES Long-term borrowings (Notes 18 and 30) Provisions - noncurrent (Note 20) Deferred tax liabilities Lease liabilities - noncurrent (Notes 15 and 29) Net defined benefit liabilities Guarantee deposits received - noncurrent Total noncurrent liabilities Total liabilities EQUITY ATTRIBUTABLE TO OWNERS OF THE CORPORATION (Note 22) Ordinary shares Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Total equity attributable to owners of the Corporation NON-CONTROLLING INTERESTS (Note 22) Total equity TOTAL		June 30, 2025		December 31, 2024		June 30, 2024
		Amount % $ 629,966 5 203,522 2 1,293 - 281,594 3 242,738 2 974,855 8 7,609 - 30,500 - 449,394 4 64,767 1 54,518 - 13,641 - 14,441 - 15,266 - 2,984,104 25 33,415 - 275,190 3 4,303,559 38 1,173,157 10 2,324,287 20 3,966 - 92,937 1 60,523 1 225,715 2 3,850 - 4,410 - 8,501,009 75 $ 11,485,113 100 $ 405,787 4 58,514 1 13,276 - 205,442 2 73,363 1 1,765 - 1,005,995 9 775,421 7 168,533 1 161,955 1 336,084 3 35,810 - 56,658 - 5,688 - 3,304,291 29 660,524 6 386,489 3 143,143 1 788,450 7 - - 6,110 - 1,984,716 17 5,289,007 46 2,485,404 21 162,398 1 1,776,482 15 104,464 1 1,667,506 16 3,548,452 32 (214,822) (2) 5,981,432 52 214,674 2 6,196,106 54 $ 11,485,113 100		Amount % $ 490,442 4 212,724 2 308 - 311,067 3 203,540 2 926,316 8 24,909 - 38,054 - 402,947 3 97,430 1 91,577 1 15,348 - 14,691 - 17,632 - 2,846,985 24 35,320 - 279,582 2 4,562,251 39 1,344,963 11 2,325,783 20 6,099 - 105,637 1 59,147 1 229,517 2 3,850 - 4,140 - 8,956,289 76 $ 11,803,274 100 $ 355,234 3 46,230 - 15,086 - 158,885 1 103,159 1 16,524 - 410 - 854,614 8 178,597 2 173,673 1 348,955 3 36,967 - 64,862 1 5,132 - 2,358,328 20 1,329,724 11 377,107 4 142,985 1 926,974 8 8,262 - 5,851 - 2,790,903 24 5,149,231 44 2,485,404 21 162,411 1 1,657,720 14 17,532 - 2,195,338 19 3,870,590 33 (104,465) (1) 6,413,940 54 240,103 2 6,654,043 56 $ 11,803,274 100		Amount % $ 461,889 4 250,073 2 1,815 - 227,499 2 230,847 2 1,063,735 9 9,107 - 36,264 - 459,829 4 101,307 1 103,527 1 29,736 - 16,828 - 27,569 - 3,020,025 25 36,874 - 286,271 2 4,652,695 38 1,464,783 12 2,327,256 20 7,091 - 106,746 1 4,213 - 234,470 2 3,850 - 4,201 - 9,128,450 75 $ 12,148,475 100 $ 153,817 1 66,100 1 9,459 - 132,353 1 79,073 1 24,241 - 758,894 6 986,458 8 162,996 1 142,069 1 325,505 4 37,764 - 264,349 2 5,715 - 3,148,793 26 1,373,048 11 308,618 3 135,687 1 1,045,163 9 44,694 - 9,111 - 2,916,321 24 6,065,114 50 2,485,404 20 162,024 1 1,657,720 14 17,532 - 1,595,279 13 3,270,531 27 (61,475) - 5,856,484 48 226,877 2 6,083,361 50 $ 12,148,475 100

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

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

OPERATING REVENUE (Notes 23 and 29) Sales Construction revenue Service revenue Total operating revenue OPERATING COSTS (Notes 9, 24 and 29) Cost of goods sold Construction costs Service costs Total operating costs GROSS PROFIT OPERATING EXPENSES (Notes 8, 24 and 29) Selling and marketing expenses General and administrative expenses Research and development expenses Expected credit impairment loss Total operating expenses PROFIT FROM OPERATIONS NON-OPERATING INCOME AND EXPENSES (Notes 24 and 29) Interest income Other income Other gains and losses Finance costs Share of profit or loss of associates accounted for using the equity method Total non-operating income and expenses PROFIT BEFORE INCOME TAX INCOME TAX EXPENSE (Notes 4 and 25) NET PROFIT FOR THE PERIOD		For the Three Months Ended June 30	For the Three Months Ended June 30	For the Three Months Ended June 30		For the Six Months	For the Six Months	Ended June 30
		2025		2024		2025		2024
		Amount % $ 2,190,864 60 2,138 - 1,489,316 40 3,682,318 100 1,690,431 46 2,035 - 1,423,072 39 3,115,538 85 566,780 15 58,469 2 65,778 2 6,509 - 2,460 - 133,216 4 433,564 11 1,891 - 10,418 - 489 - (13,045 ) - 6,194 - 5,947 - 439,511 11 93,094 2 346,417 9		Amount % $ 1,899,745 56 2,723 - 1,478,626 44 3,381,094 100 1,481,043 44 2,593 - 1,396,720 41 2,880,356 85 500,738 15 55,878 2 66,010 2 5,908 - - - 127,796 4 372,942 11 1,901 - 10,874 - 245 - (16,512 ) - (585 ) - (4,077) - 368,865 11 68,601 2 300,264 9		Amount % $ 4,203,470 59 5,302 - 2,935,197 41 7,143,969 100 3,232,964 45 5,049 - 2,787,307 39 6,025,320 84 1,118,649 16 107,057 2 135,951 2 13,187 - 2,460 - 258,655 4 859,994 12 3,626 - 19,773 - (3,847 ) - (27,892 ) - 7,589 - (751) - 859,243 12 177,583 2 681,660 10		Amount % $ 3,731,536 59 7,729 - 2,580,366 41 6,319,631 100 2,886,382 46 7,361 - 2,428,528 38 5,322,271 84 997,360 16 109,246 2 131,064 2 12,884 - - - 253,194 4 744,166 12 3,442 - 21,407 - (64 ) - (32,836 ) - 2,499 - (5,552) - 738,614 12 141,602 2 597,012 10 (Continued)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

OTHER COMPREHENSIVE INCOME (LOSS) (Note 22) Items that will not be reclassified subsequently to profit or loss Unrealized loss on investments in equity instruments at fair value through other comprehensive income Gain on hedging instruments Share of the other comprehensive loss of associates accounted for using the equity method Items that may be reclassified subsequently to profit or loss Exchange differences on translation of the financial statements of foreign operations Share of the other comprehensive income (loss) of associates accounted for using the equity method Other comprehensive loss for the period, net of income tax TOTAL COMPREHENSIVE INCOME FOR THE PERIOD NET PROFIT ATTRIBUTABLE TO: Owners of the Corporation Non-controlling interests TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO: Owners of the Corporation Non-controlling interests EARNINGS PER SHARE (Note 26) Basic Diluted		For the Three Months Ended June 30	For the Three Months Ended June 30	For the Three Months Ended June 30		For the Six Months	For the Six Months	For the Six Months	Ended June 30
		2025		2024		2025			2024
		Amount % $ (42,904 ) (1 ) - - (11,530 ) - (116,569 ) (3 ) (220) - (171,223) (4) $ 175,194 5 $ 340,888 9 5,529 - $ 346,417 9 $ 187,373 5 (12,179) - $ 175,194 5 $ 1.37 $ 1.37		Amount % $ (7,202 ) - - - (1,197 ) - (6,355 ) - 26 - (14,728) - $ 285,536 9 $ 292,398 9 7,866 - $ 300,264 9 $ 278,626 9 6,910 - $ 285,536 9 $ 1.18 $ 1.17		Amount $ (11,107 ) - (4,896 ) (109,688 ) (207 ) (125,898) $ 555,762 $ 671,000 10,660 $ 681,660 $ 561,666 (5,904) $ 555,762 $ 2.70 $ 2.69	% - - - (2 ) - (2) 8 10 - 10 8 - 8		Amount $ (38,911 ) 42 (7,889 ) 6,121 (20 ) (40,657) $ 556,355 $ 585,130 11,882 $ 597,012 $ 543,617 12,738 $ 556,355 $ 2.35 $ 2.35	% (1 ) - - - - (1 ) 9 10 - 10 9 - 9

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

(Concluded)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In Thousands of New Taiwan Dollars)

	Total Equity Attribu	table to Owners	the Corporation	the Corporation			Total Equity $ 6,654,043
Ordinary Shares Capital Surplus $ 2,485,404 $ 162,411 - - - - - - - - - (13) - - - - - - - - - - $ 2,485,404 $ 162,398 $ 2,485,404 $ 162,024 - - - - - - - - - - - - - - - - - - $ 2,485,404 $ 162,024	Retained Earnings		Other Equity		Total $ (104,465) - - - - - - (109,339) (109,339) - (1,018) $ (214,822) $ (17,532) - - - - - (41,513) (41,513) - (2,430) $ (61,475)	Total Equity Attributable to Owners of the Corporation $ 6,413,940 - - (994,161) (994,161) (13) 671,000 (109,334) 561,666 - - $ 5,981,432 $ 6,058,488 - - (745,621) (745,621) 585,130 (41,513) 543,617 - - $ 5,856,484
			Exchange Differences on Translation of the Financial Statements of Unrealized Valuation Gains (Losses) on Financial Assets at Fair Value Through Other Foreign Operations Comprehensive Income $ (25,722) $ (78,743) - - - - - - - - - - - - (93,442) (15,897) (93,442) (15,897) - - - (1,018) $ (119,164) $ (95,658) $ (36,463) $ 18,973 - - - - - - - - - - 5,183 (46,738) 5,183 (46,738) - - - (2,430) $ (31,280) $ (30,195)	Gain (Loss) on Hedging Instruments $ - - - - - - - - - - - $ - $ (42) - - - - - 42 42 - - $ -
	Legal Reserve Special Reserve Unappropriated Earnings $ 1,657,720 $ 17,532 $ 2,195,338 118,762 - (118,762) - 86,932 (86,932) - - (994,161) 118,762 86,932 (1,199,855) - - - - - 671,000 - - 5 - - 671,005 - - - - - 1,018 $ 1,776,482 $ 104,464 $ 1,667,506 $ 1,574,514 $ - $ 1,854,078 83,206 - (83,206) - 17,532 (17,532) - - (745,621) 83,206 17,532 (846,359) - - 585,130 - - - - - 585,130 - - - - - 2,430 $ 1,657,720 $ 17,532 $ 1,595,279	Total $ 3,870,590 - - (994,161) (994,161) - 671,000 5 671,005 - 1,018 $ 3,548,452 $ 3,428,592 - - (745,621) (745,621) 585,130 - 585,130 - 2,430 $ 3,270,531
							- - (994,161)
							(994,161)
							(13)
							681,660 (125,898)
							555,762
							(19,525)
							-
							$ 6,196,106
							$ 6,285,103
							- - (745,621)
							(745,621)
							597,012 (40,657)
							556,355
							(12,476)
							-
							$ 6,083,361

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

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before income tax Adjustments for: Depreciation expense Amortization expense Expected credit impairment loss Net gain on financial assets at fair value through profit or loss Finance costs Interest income Share of profit of associates accounted for using the equity method Gain on disposal of property, plant and equipment Impairment loss on property, plant and equipment Write-down (reversal) of inventories Recognition of provisions Others Changes in operating assets and liabilities Contract assets - current Notes receivable Accounts receivable Accounts receivable - related parties Other receivables Other receivables - related parties Inventories Prepayments Other current assets Other financial assets Costs to fulfil a contract Contract liabilities - current Notes payable Accounts payable Accounts payable - related parties Other payables Other payables - related parties Other current liabilities Net defined benefit liabilities Cash generated from operations Income taxes paid Net cash generated from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of financial assets at fair value through profit or loss Proceeds from disposal of financial assets at fair value through profit or loss Proceeds of financial assets for hedging Acquisition of property, plant and equipment		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 859,243 435,350 12,879 2,460 (389) 27,892 (3,626) (7,589) (86) - 499 9,382 - (985) 29,473 (41,658) (48,539) 23,404 7,554 (46,946) 32,663 2,366 37,059 250 12,284 (1,810) 46,557 (29,796) (85,654) (10,064) 556 (8,277) 1,254,452 (175,331) 1,079,121 (640,000) 640,389 - (116,368)	2024 $ 738,614 439,531 13,032 - (160) 32,836 (3,442) (2,499) (157) 49,541 (1,047) 2,472 (177) (133) 43,098 (3,802) (212,437) 13,449 (8,316) (18,277) 19,556 19,957 (741) (4,762) 9,299 (6,749) (13,257) (22,565) 4,059 83,399 (562) (4,715) 1,165,045 (210,685) 954,360 (150,000) 150,160 4,321 (138,704) (Continued)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

Proceeds from disposal of property, plant and equipment Decrease in refundable deposits Payments for intangible assets Increase in other noncurrent assets Interest received Dividends received from associates Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term borrowings Repayments of short-term borrowings Proceeds from short-term bills payable Repayments of short-term bills payable Proceeds from in long-term borrowings Repayments of long-term borrowings Refund of guarantee deposits received Repayments of principal portion of lease liabilities Interest paid Net cash used in financing activities EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF CASH AND CASH EQUIVALENTS NET INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 122 5,509 (95) (10,927) 4,387 - (116,983) 1,538,550 (1,481,599) - - 647,208 (1,300,000) (898) (161,525) (30,470) (788,734) (33,880) 139,524 490,442 $ 629,966	2024 $ 381 11,617 (1,416) (10,486) 3,458 395 (130,274) 2,073,130 (2,514,428) 5,000 (5,000) 2,130,000 (2,128,833) (14,559) (178,138) (33,807) (666,635) 2,117 159,568 302,321 $ 461,889

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

(Concluded)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

1. GENERAL INFORMATION

CHC Resources Corporation (the “Corporation”) was jointly incorporated by China Steel Corporation (CSC), TCC Group Holdings Co., LTD. (TCC) and other shareholders in May 1991. CSC is the parent company that has substantive control over the Corporation. As of June 30, 2025, CSC and its subsidiaries owned 35.6% of the Corporation’s issued ordinary shares. The Corporation mainly engages in the production, processing and sales of Ground - Granulated Blast-Furnace Slag (GGBFS), Portland Blast-Furnace Slag Cement and reutilization of resources.

The shares of the Corporation have been listed on the Taiwan Stock Exchange since November 1999.

The consolidated financial statements are presented in the Corporation’s functional currency, the New Taiwan dollar.

2. APPROVAL OF FINANCIAL STATEMENTS

The consolidated financial statements were approved by the Corporation’s board of directors on August 6, 2025.

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

a. Initial application of the amendments to the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, the “IFRS Accounting Standards”) endorsed and issued into effect by the Financial Supervisory Commission (FSC)

The application of the IFRS Accounting Standards endorsed and issued into effect by the FSC did not have a material impact on the Corporation and its subsidiaries’ accounting policies.

b. The IFRS Accounting Standards endorsed by the FSC for application starting from 2026

New, Amended and Revised Standards and Interpretations Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments” - the amendments to the application guidance of classification of financial assets	Effective Date Announced by IASB (International Accounting Standards Board)
	January 1, 2026 (Note)

Note: An entity shall apply those amendments for annual reporting periods beginning on or after January 1, 2026. It is permitted to apply these amendments for an earlier period beginning on January 1, 2025.

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c. The IFRS Accounting Standards in issue but not yet endorsed and issued into effect by the FSC

New, Amended and Revised Standards and Interpretations Annual Improvements to IFRS Accounting Standards - Volume 11 Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments” - the amendments to the application guidance of derecognition of financial liabilities Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity” Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture” IFRS 17 “Insurance Contracts” Amendments to IFRS 17 Amendments to IFRS 17 “Initial Application of IFRS 17 and IFRS 9 - Comparative Information” IFRS 18 “Presentation and Disclosure in Financial Statements” IFRS 19 “Subsidiaries without Public Accountability: Disclosures”	Effective Date Announced by IASB (Note)
	January 1, 2026 January 1, 2026 January 1, 2026 To be determined by IASB January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2027 January 1, 2027

New, Amended and Revised Standards and Interpretations
Annual Improvements to IFRS Accounting Standards - Volume 11

Amendments to IFRS 9 and IFRS 7 “Amendments to the
Classification and Measurement of Financial Instruments” - the
amendments to the application guidance of derecognition of
financial liabilities

Amendments to IFRS 9 and IFRS 7 “Contracts Referencing
Nature-dependent Electricity”

Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets
between an Investor and its Associate or Joint Venture”

IFRS 17 “Insurance Contracts”

Amendments to IFRS 17

Amendments to IFRS 17 “Initial Application of IFRS 17 and IFRS 9 -
Comparative Information”

IFRS 18 “Presentation and Disclosure in Financial Statements”

IFRS 19 “Subsidiaries without Public Accountability: Disclosures”

Effective Date
Announced by IASB (Note)

January 1, 2026
January 1, 2026
January 1, 2026
To be determined by IASB
January 1, 2023
January 1, 2023
January 1, 2023
January 1, 2027
January 1, 2027

Note: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.

IFRS 18 “Presentation and Disclosure in Financial Statements”

IFRS 18 will supersede IAS 1” Presentation of Financial Statements”. The main changes comprise:

Items of income and expenses included in the statement of profit or loss shall be classified into the operating, investing, financing, income taxes and discontinued operations categories.
The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.
Provides guidance to enhance the requirements of aggregation and disaggregation: The Corporation and its subsidiaries shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. The Corporation and its subsidiaries shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. The Corporation and its subsidiaries labels items as “other” only if it cannot find a more informative label.
Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management’s view of an aspect of the financial performance of the Corporation and its subsidiaries as a whole, the Corporation and its subsidiaries shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.

Except for the above impact, as of the date the consolidated financial statements were authorized for issue, the Corporation and its subsidiaries are continuously assessing the other impacts of the above amended standards and interpretations on the Corporation and its subsidiaries’ financial position and financial performance and will disclose the relevant impact when the assessment is completed.

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4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

a. Statement of compliance

The consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 “Interim Financial Reporting” as endorsed and issued into effect by the FSC. Disclosure information included in these interim consolidated financial statements is less than the disclosure information required in a complete set of annual consolidated financial statements.

b. Basis of preparation

The consolidated financial statements have been prepared on the historical cost basis except for financial instruments, and net defined benefit liabilities which are measured at the present value of the defined benefit obligation less the fair value of plan assets.

The fair value measurements, which are grouped into Levels 1 to 3 based on the degree to which the fair value measurement inputs are observable and based on the significance of the inputs to the fair value measurement in its entirety, are described as follows:

1) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and
3) Level 3 inputs are unobservable inputs for an asset or liability.
c. Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Corporation and the entities controlled by the Corporation (i.e., its subsidiaries).

When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those of the Corporation.

All intra-group transactions, balances, income and expenses are eliminated in full upon consolidation. Total comprehensive income of subsidiaries is attributed to the owners of the Corporation and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

Changes in the Corporation and its subsidiaries’ ownership interests in subsidiaries that do not result in the Corporation and its subsidiaries losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the interests of the Corporation and its subsidiaries and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Corporation.

See Note 12 and Table 5 for detailed information on subsidiaries (including percentages of ownership and main businesses).

d. Other material accounting policies

Except for the following, please refer to the consolidated financial statements for the year ended December 31, 2024.

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1) Carbon fee provision

In accordance with the Regulations Governing the Collection of Carbon Fees and related regulations of the ROC, the carbon fee provision is recognized and measured on the basis of the best estimate of the expenditure required to settle the obligation for the current year and the proportion of actual emissions to the total annual emissions.

2) Retirement benefits

Pension cost for an interim period is calculated on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior financial year, adjusted for significant market fluctuations since that time and for significant plan amendments, settlements, or other significant one-off events.

3) Income tax expense

Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period’s pre-tax income the tax rate that would be applicable to expected total annual earnings.

5. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The same material accounting judgments and key sources of estimation uncertainty of consolidated financial statements have been followed in these consolidated financial statements as those applied in the preparation of the consolidated financial statements for the year ended December 31, 2024.

6. CASH AND CASH EQUIVALENTS

Cash on hand Checking accounts and demand deposits Cash equivalents (time deposits with original maturities of 3 months or less)	June 30, 2025 December 31, 2024 $ 226 $ 108 491,390 390,984 138,350 99,350 $ 629,966 $ 490,442	June 30, 2024 $ 315 361,874 99,700 $ 461,889

7. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

Domestic and foreign investments (investments in equity instruments) Listed shares Unlisted shares	June 30, 2025 December 31, 2024 $ 203,522 $ 212,724 33,415 35,320 $ 236,937 $ 248,044	June 30, 2024 $ 250,073 36,874 $ 286,947

(Continued)

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Current Noncurrent	June 30, 2025 December 31, 2024 $ 203,522 $ 212,724 33,415 35,320 $ 236,937 $ 248,044	June 30, 2024 $ 250,073 36,874 $ 286,947 (Concluded)

These investments in equity instruments are held for medium- to long-term strategic purposes. Accordingly, the management elected to designate these investments in equity instruments as at fair value through other comprehensive income as they believe that recognizing short-term fluctuations in these investments’ fair value in profit or loss would not be consistent with the Corporation and its subsidiaries’ strategy of holding these investments for long-term purposes.

8. NOTES RECEIVABLE AND ACCOUNTS RECEIVABLE (INCLUDING RELATED PARTIES)

Notes receivable At amortized cost Operating Accountsreceivable (includingrelated parties) At amortized cost Gross carrying amount Less: Allowance for impairment loss	June 30, 2025 December 31, 2024 $ 281,594 $ 311,067 $ 1,220,053 $ 1,129,856 2,460 - $ 1,217,593 $ 1,129,856	June 30, 2024 $ 227,499 $ 1,294,582 - $ 1,294,582

The Corporation and its subsidiaries make prudent assessment of their customers. The counterparties are creditworthy companies; as a result, the significant credit risk is unexpected. The Corporation and its subsidiaries continue to manage the financial condition and entire credit risk of their customers, and obtain sufficient collateral if needed to mitigate the risk of financial loss from late payment.

The expected credit losses on notes receivable and accounts receivable are estimated by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecasted direction of economic conditions at the reporting date.

The Corporation and its subsidiaries continue to monitor the collection of receivables to ensure that proper actions are made to collect past due receivables. Additionally, the Corporation and its subsidiaries review the recoverable amount of receivables one by one on the balance sheet date to ensure that proper allowances are recognized for unrecoverable receivables.

The Corporation and its subsidiaries write off receivables when there is evidence indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. For receivables that have been written off, the Corporation and its subsidiaries continue attempt to recover the receivables due. The recovery of the receivables recognized in profit or loss.

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The following table details the loss allowance of notes receivable and accounts receivable based on the Corporation and its subsidiaries’ provision matrix.

June 30, 2025

Not Past Due 1 to 30 Days Gross carrying amount $1,463,307 $ 31,418 Loss allowance (Lifetime ECLs) - - Amortized cost $1,463,307 $ 31,418 December 31, 2024 Not Past Due 1 to 30 Days Gross carrying amount $1,284,354 $ 153,585 Loss allowance (Lifetime ECLs) - - Amortized cost $1,284,354 $ 153,585 June 30, 2024 Not Past Due 1 to 30 Days Gross carrying amount $1,365,329 $ 142,611 Loss allowance (Lifetime ECLs) - - Amortized cost $1,365,329 $ 142,611 Balance, beginning of the period Allowance for impairment loss Balance, end of the period	31 to 60 Days $ 4,462 - $ 4,462 31 to 60 Days $ 2,984 - $ 2,984 31 to 60 Days $ 12,165 - $ 12,165	61 to 90 Days $ 859 (859) $ - 61 to 90 Days $ - - $ - 61 to 90 Days $ 1,976 - $ 1,976	61 to 90 Days $ 859 (859) $ - 61 to 90 Days $ - - $ - 61 to 90 Days $ 1,976 - $ 1,976	91 to 180 Days Over 180 Days Total $ 1,601 $ - $1,501,647 (1,601) - (2,460) $ - $ - $1,499,187 91 to 180 Days Over 180 Days Total $ - $ - $1,440,923 - - - $ - $ - $1,440,923 91 to 180 Days Over 180 Days Total $ - $ - $1,522,081 - - - $ - $ - $1,522,081 For the Six Months Ended June 30	91 to 180 Days Over 180 Days Total $ 1,601 $ - $1,501,647 (1,601) - (2,460) $ - $ - $1,499,187 91 to 180 Days Over 180 Days Total $ - $ - $1,440,923 - - - $ - $ - $1,440,923 91 to 180 Days Over 180 Days Total $ - $ - $1,522,081 - - - $ - $ - $1,522,081 For the Six Months Ended June 30

				2025 $ - 2,460 $ 2,460	2024 $ - - $ -

9. INVENTORIES

Raw materials Supplies Finished goods Merchandise Materials and supplies in transit	June 30, 2025 December 31, 2024 $ 119,763 $ 130,557 204,181 194,396 110,656 71,842 4,514 4,307 10,280 1,845 $ 449,394 $ 402,947	June 30, 2024 $ 143,058 182,187 120,024 6,643 7,917 $ 459,829

The cost of inventories recognized as cost of goods sold for the three months and six months ended June 30, 2025 and 2024 was NT$1,690,431 thousand, NT$1,481,043 thousand, NT$3,232,964 thousand and NT$2,886,382 thousand, respectively, which included loss on inventories NT$63 thousand, reversal of loss on inventories of NT$705 thousand, loss on inventories NT$499 thousand, and reversal of loss on inventories of NT$1,047 thousand, respectively. The reversal of loss on inventory was mainly due to the

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continuous consumption of inventory.

10. PREPAYMENT

Prepayment for purchases Others OTHER FINANCIAL ASSETS Time deposits with original maturities of more than 3 months Pledged time deposits - performance bond (Note 30) Current Noncurrent	June 30, 2025 December 31, 2024 $ 33,177 $ 56,545 31,590 40,885 $ 64,767 $ 97,430 June 30, 2025 December 31, 2024 $ 44,950 $ 84,325 13,418 11,102 $ 58,368 $ 95,427 $ 54,518 $ 91,577 3,850 3,850 $ 58,368 $ 95,427	June 30, 2024 $ 59,497 41,810 $ 101,307 June 30, 2024 $ 96,275 11,102 $ 107,377 $ 103,527 3,850 $ 107,377

11. OTHER FINANCIAL ASSETS

12. SUBSIDIARIES

Subsidiaries included in the consolidated financial statements

The consolidated entities were as follows:

Investor Investee Nature of Activities CHC Resources Corporation Union Steel Development Corporation a. CHC Resources Corporation Pao Good Industrial Co., Ltd. b. CHC Resources Corporation Yu Cheng Lime Corporation c. CHC Resources Corporation CHC Resources Vietnam Co., Ltd. d.	Percentage of Ownership (%)
	June 30, 2025 December 31, 2024 June 30, 2024 93.37 93.37 93.37 51.00 51.00 51.00 90.00 90.00 90.00 85.00 85.00 85.00

a. The company mainly engages in the manufacture and sale of iron powder, OEM and sales of refractory, trading, and human dispatch.
b. The company mainly engages in sales of fly ash, manufacture and sales of dry-mix mortar, and trading.
c. The company mainly engages in real estate lease and management of raw materials.
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d. The company mainly engages in the manufacture and sale of GGBFS, sales of Granulated Blast - Furnace Slag (GBFS).

13. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

Investments in associates

Associates that are not individually material The Corporation and its subsidiaries’ share of: Net profit for the period Other comprehensive loss Total comprehensive income (loss)	June 30, 2025 $ 275,190	December 31, 2024 June 30, 2024 $ 279,582 $ 286,271 For the Six Months Ended June 30	December 31, 2024 June 30, 2024 $ 279,582 $ 286,271 For the Six Months Ended June 30	December 31, 2024 June 30, 2024 $ 279,582 $ 286,271 For the Six Months Ended June 30
			2025 $ 7,589 (5,103) $ 2,486	2024 $ 2,499 (7,909) $ (5,410)

The Corporation and its subsidiaries held more than 20% of the shares of CSC and fellow subsidiaries; thus, the subsidiaries were accounted for using the equity method.

For the three months and six months ended June 30, 2025 and 2024, the share of profit and other comprehensive profit of associates accounted for using the equity method is partly recognized based on the financial statements of the same period that have not been reviewed by accountants. However, the management of the Corporation and its subsidiaries believe there is no material impact on the above-mentioned financial statements that have not been reviewed.

14. PROPERTY, PLANT AND EQUIPMENT

Refer to Table 6 for the movements in property, plant and equipment for the six months ended June 30, 2025 and 2024.

The property, plant and equipment of the Corporation and its subsidiaries are depreciated on a straight-line basis over their estimated useful lives as follows:

Land improvements Drainage system 30 years Others 2-15 years Buildings Main buildings 5-55 years Rain shelters and container houses 3-35 years Pipelines and other facilities 2-20 years Machinery and equipment 1-28 years Transportation equipment 5-10 years Office equipment 1-10 years Leasehold improvement 2-35 years Other equipment 2-35 years

The carrying amounts of property, plant and equipment that were pledged by the Corporation and its subsidiaries for bank financing credit line are set out in Note 30.

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Due to the replacement of the plant's coal-fired equipment with natural gas equipment and buildings, the Corporation assessed that the coal-fired equipment will not generate probable future economic benefits. The Corporation carried out a review of the carrying amount that exceeded the recoverable amount and recognized an impairment loss of NT$49,541 thousand for the six months ended June 30, 2024.

In February 2025, the Corporation received a ruling from the Kaohsiung District Court for a criminal provisional attachment, ordering the seizure of the Corporation's land located at Lot No. 1310, Erqiao Section, Xiaogang District, Kaohsiung City, up to an amount of NT$128,104 thousand. For further details, please refer to Note 32.

For the six months ended June 30, 2025 and 2024, the Corporation and its subsidiaries entered into the following non-cash investing activities which were not reflected in the statements of cash flows:

Affect both cash and non-cash items from investing activities Increase in property, plant and equipment Increase in prepayments for equipment Decrease in payables on equipment Capitalized interest Paid in cash		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 101,171 1,376 14,759 (938) $ 116,368	2024 $ 112,273 3,737 23,330 (636) $ 138,704

15. LEASE ARRANGEMENTS

a. Right-of-use assets

Carryingamount	June 30, 2025 December 31, 2024 June 30, 2024 $ 912,259 $ 1,061,733 $ 1,156,378 246,143 267,561 290,757 14,755 15,669 17,648 $ 1,173,157 $ 1,344,963 $ 1,464,783 For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 $ 4,580 $ 2,397 $ 68,979 $ 74,758 $ 137,979 $ 152,439 11,769 11,639 23,529 23,239 - - - 30 1,901 1,864 3,779 3,713 $ 82,649 $ 88,261 $ 165,287 $ 179,421	June 30, 2025 December 31, 2024 June 30, 2024 $ 912,259 $ 1,061,733 $ 1,156,378 246,143 267,561 290,757 14,755 15,669 17,648 $ 1,173,157 $ 1,344,963 $ 1,464,783 For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 $ 4,580 $ 2,397 $ 68,979 $ 74,758 $ 137,979 $ 152,439 11,769 11,639 23,529 23,239 - - - 30 1,901 1,864 3,779 3,713 $ 82,649 $ 88,261 $ 165,287 $ 179,421	June 30, 2025 December 31, 2024 June 30, 2024 $ 912,259 $ 1,061,733 $ 1,156,378 246,143 267,561 290,757 14,755 15,669 17,648 $ 1,173,157 $ 1,344,963 $ 1,464,783 For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 $ 4,580 $ 2,397 $ 68,979 $ 74,758 $ 137,979 $ 152,439 11,769 11,639 23,529 23,239 - - - 30 1,901 1,864 3,779 3,713 $ 82,649 $ 88,261 $ 165,287 $ 179,421	June 30, 2025 December 31, 2024 June 30, 2024 $ 912,259 $ 1,061,733 $ 1,156,378 246,143 267,561 290,757 14,755 15,669 17,648 $ 1,173,157 $ 1,344,963 $ 1,464,783 For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 $ 4,580 $ 2,397 $ 68,979 $ 74,758 $ 137,979 $ 152,439 11,769 11,639 23,529 23,239 - - - 30 1,901 1,864 3,779 3,713 $ 82,649 $ 88,261 $ 165,287 $ 179,421	June 30, 2025 December 31, 2024 June 30, 2024 $ 912,259 $ 1,061,733 $ 1,156,378 246,143 267,561 290,757 14,755 15,669 17,648 $ 1,173,157 $ 1,344,963 $ 1,464,783 For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 $ 4,580 $ 2,397 $ 68,979 $ 74,758 $ 137,979 $ 152,439 11,769 11,639 23,529 23,239 - - - 30 1,901 1,864 3,779 3,713 $ 82,649 $ 88,261 $ 165,287 $ 179,421
Land Buildings Transportation equipment Additions to right-of-use assets Depreciation charge for right-of-use assets Land Buildings Machinery and equipment Transportation equipment
			$

	2025 $ 68,979 11,769 - 1,901 $ 82,649	2024 $ 74,758 11,639 - 1,864 $ 88,261		2025 $ 4,580 $ 137,979 23,529 - 3,779 $ 165,287	2024 $ 2,397 $ 152,439 23,239 30 3,713 $ 179,421

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Except for the addition and recognition of depreciation expenses listed above, the Corporation and its subsidiaries did not have significant sublease or impairment of right-of-use assets during the six months ended June 30, 2025 and 2024.

b. Lease liabilities

June 30, 2025 December 31, 2024 Carrying amount Current $ 336,084 $ 348,955 Noncurrent $ 788,450 $ 926,974 Range of discount rates (%) for lease liabilities was as follows: June 30, 2025 December 31, 2024 Land 0.59-1.97 0.59-1.97 Buildings 1.67-3.45 0.86-3.45 Transportation equipment 0.59-1.92 0.59-1.91	June 30, 2024 $ 325,505 $ 1,045,163 June 30, 2024 0.59-1.97 0.63-3.45 0.59-1.74

c. Material leasing activities and terms
1) Blast-Furnace Slag Cement and resource reutilization business of Taichung Factory

In order to expand business in Taichung, the Corporation signed the investment permission “The Contract Investment, Construction and Operating of Slag Grinding and Processing Plant in the Special Zone for Industry (IV) of Taichung Port” (the “Taichung Factory”) with Port of Taichung Taiwan International Ports Corporation, Ltd (the “Ports Corporation”) in December 2006. The Corporation entered operation in the 2nd quarter of 2009 and 1st quarter of 2016.

For one year beginning from operation date of the first period, the Corporation has committed that the quantities of import and export goods at Taichung Port should be at least the minimum of annual guaranteed traffic volume, which is settled once a year. If the traffic volume is not reached, the Corporation should pay punitive damage to the Ports Corporation for unreached quantities according to the agreed calculation method. As of June 30, 2025, the Corporation had no outstanding punitive damage.

The Taichung Factory investment permission described above is for a period of 50 years, commencing from January 1, 2007 to December 31, 2056. Additionally, the lease term of land associated with the Taichung Factory investment permission is for a period of 20 years, commencing from January 1, 2007 to December 31, 2026. The lease cost of land includes rent, fixed operating royalty and variable operating royalty. The Corporation could apply for renewal before the contract expires. The period is limited to 20 years each time, until the permission period expires. The terms of renewal are to be arranged.

The rents for land of the Taichung Factory and the fixed operating royalty described above are paid every three months; the variable operating royalty paid is according to operating gross profit of the Taichung Factory audited by accountant every year multiplies by the agreed contribution rate.

In addition, for the expansion of stacking volume of slag and the Corporation’s long-term policy regarding the land in Taichung Factory, the Corporation has continued to rent land in the Special Zone for industry of Taichung Port from the Ports Corporation. The lease will expire in 2036 and the Corporation could apply for renewal before the contract expires. The terms of renewal are to be

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arranged.

The Corporation had provided performance bond amounted to NT$3,040 thousand, and classified it as noncurrent refundable deposits according to its liquidity. The bank also provided performance bond amounted to NT$49,940 thousand.

2) Blast-Furnace Slag Cement business in Taipei Port

The Corporation signed an agreement with Chia Hsin Cement Corp. in 2010 to acquire the exclusive right of GGBFS storage facility in Taipei Port. The period is up to 31 years from the beginning operation date of the storage facility (from May 2014 to May 2045). As of June 30, 2025, the Corporation had paid performance bonds amounted to NT$201,000 thousand, and classified it as current and noncurrent refundable deposits according to its liquidity.

The Corporation is committed to pay Chia Hsin Cement Corp. for storage and delivery expenses from the beginning operation date of the storage facility to the date of termination of the contract (from January 2015 to May 2045) on the basis of the agreed rates and minimum capacity agreed with Chia Hsin Cement Corp.

Additionally, the Corporation has to pay NT$13,834 thousand for site management expenses arising from storage and delivery every year from May 2014 to May 2045, and the amount is paid on a pro-rata basis if the operating period is less than one year.

3) Other resource reutilization business

The Corporation leases land and plants from non-related parties as a premise for resource reutilization business. The leases will successively expire through February 2036.

4) Land use right

CHC Resources Vietnam Co. Ltd. acquired the land use rights in July 2019 from the government of Vietnam, and the lease will expire in May 2051. The carrying amounts of right-of-use assets that had been pledged by the subsidiary for bank borrowing are set out in Note 30.

d. Other lease information

Expenses relating to short-term leases and low-value asset leases Total cash outflow for leases		For the Three Months Ended June 30 2025 2024 $ 3,441 $ 3,816		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 3,441		2025 $ 6,762 $ 180,561	2024 $ 7,144 $ 198,299

The Corporation and its subsidiaries have elected to apply the recognition exemption and thus, did not recognize right-of-use assets and lease liabilities as short-term and low-value asset leases.

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16. INVESTMENT PROPERTIES

For the six months ended June 30, 2025

		Land		Buildings		Total
Cost
Balance at January 1, 2025 and June 30, 2025	$	2,308,845	$	51,865	$	2,360,710
Accumulated depreciation
Balance at January 1, 2025	$	-	$	34,927	$	34,927
Depreciation expenses		-		1,496		1,496
Balance at June 30, 2025	$	-	$	36,423	$	36,423
Carrying amount at December 31, 2024	$	2,308,845	$	16,938	$	2,325,783
Carrying amount at June 30, 2025	$	2,308,845	$	15,442	$	2,324,287
For the six months ended June 30, 2024
		Land		Buildings		Total
Cost
Balance at January 1, 2024 and June 30, 2024	$	2,308,845	$	51,865	$	2,360,710
Accumulated depreciation
Balance at January 1, 2024	$	-	$	31,937	$	31,937
Depreciation expenses		-		1,517		1,517
Balance at June 30, 2024	$	-	$	33,454	$	33,454
Carrying amount at June 30, 2024	$	2,308,845	$	18,411	$	2,327,256
The maturity analysis of lease receivables under	operating leases of		investment properties		was	as follows:
		June 30,	December 31,			June 30,
		2025		2024		2024
Year 1		$ 29,014		$ 29,014		$ 29,014
Year 2		29,014		29,014		29,014
Year 3		14,026		21,531		29,014
Year 4		-		7,013		14,026

Buildings are depreciated over 3 to 26 years on a straight-line basis.

As of June 30, 2025, December 31, 2024 and June 30, 2024, the fair values of investment properties held by the Corporation and its subsidiaries were NT$2,484,004 thousand, NT$2,484,004 thousand and NT$2,483,935 thousand, respectively. Part of the land fair values was measured using Level 3 inputs based on appraisals by real estate professionals. These appraisal were based on actual transaction prices of comparable land in the same area with significant unobservable inputs including the related expense ratio. Other properties were not evaluated by independent qualified professional valuers. The management of the Corporation and its subsidiaries applied valuation models commonly used by market participants, and the

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fair values were determined using Level 3 inputs.

All investment properties of the Corporation and its subsidiaries are from self-owned equity.

17. INTANGIBLE ASSETS

For the six months ended June 30, 2025

Cost Balance at January 1, 2025 Additions Derecognition Effects of foreign currency exchange differences Balance at June 30, 2025 Accumulated amortization Balance at January 1, 2025 Amortization expenses Derecognition Effects of foreign currency exchange differences Balance at June 30, 2025 Carrying amount at December 31, 2024 Carrying amount at June 30, 2025	Computer Software $ 15,449 95 (3,437) (141) 11,966 9,350 2,207 (3,437) (120) 8,000 $ 6,099 $ 3,966

For the six months ended June 30, 2024

Cost Balance at January 1, 2024 Additions Derecognition Effects of foreign currency exchange differences Balance at June 30, 2024 Accumulated amortization Balance at January 1, 2024 Amortization expenses Derecognition Effects of foreign currency exchange differences Balance at June 30, 2024 Carrying amount at June 30, 2024	Computer Software $ 15,780 1,416 (1,692) 9 15,513 7,800 2,309 (1,692) 5 8,422 $ 7,091

Intangible assets are computer software, which are amortized over 3 to 5 years on a straight-line basis.

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18. BORROWINGS

a. Short-term borrowings
June 30,
2025
December 31,
2024

Unsecured bank loans - annual interest rates
range was 1.80%-5.00%, 1.80%-5.23%
and 5.17%-6.65% as of June 30, 2025,
December 31, 2024 and June 30, 2024,
respectively
$ 385,980
$ 324,609

Letters of credit - annual interest rates range
was 1.85%, 1.83%-1.92% and
1.83%-1.92% as of June 30, 2025,
December 31, 2024 and June 30, 2024,
respectively

19,807

30,625

$ 405,787
$ 355,234

b. Long-term borrowings
June 30,
2025
December 31,
2024

Unsecured bank loans - due in May 2030,
annual interest rates range was
1.72%-1.81%, 1.78%-1.82% and
1.72%-1.93% as of June 30, 2025,
December 31, 2024 and June 30, 2024,
respectively
$ 547,208
$ 1,200,000

Secured bank loans - due in July 2027, annual
interest rates range was 5.33%-5.73%,
5.26%-6.40% and 4.88%-6.38% as of June
30, 2025, December 31, 2024 and June 30,
2024, respectively

169,974

194,586

717,182

1,394,586

Less: Current portion

56,658

64,862

$ 660,524
$ 1,329,724

OTHER PAYABLES (INCLUDING RELATED PARTIES)
June 30,
2025
December 31,
2024
Freight
$ 275,158
$ 304,201

Outsourced salaries
117,651
126,240
Salaries and bonus
127,736
208,218
Compensation of employees and remuneration of
directors and supervisors
90,775
59,183
Utility bill
55,433
49,429
Professional service payable
11,675
13,461

June 30,
2024
$ 125,103

28,714
$ 153,817
June 30,
2024
$ 1,380,000

257,397
1,637,397

264,349
$ 1,373,048
June 30,
2024
$ 380,295
165,599
125,820
76,180
44,132
9,814
(Continued)

19. OTHER PAYABLES (INCLUDING RELATED PARTIES)

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Subcontracting expenses Taxes payable Others	June 30, 2025 December 31, 2024 $ 10,264 $ 14,920 6,909 11,290 248,353 246,269 $ 943,954 $ 1,033,211	June 30, 2024 $ 9,408 7,017 331,189 $ 1,149,454 (Concluded)

In October 2020, the Environmental Protection Bureau of Kaohsiung City issued a letter requesting the Corporation and other jointly liable parties to submit a cleanup plan for the Basic Oxygen Furnace Slag backfilled on certain land parcels in the Dalin Section, Qishan District. In response to this letter, the Corporation submitted a cleanup plan, and the estimated expenses were NT$299,000 thousand, NT$318,886 thousand, and NT$286,552 thousand, as of June 30, 2025, December 31, 2024, and June 30, 2024, respectively. The amounts were recognized as other payables-others and provisions.

20. PROVISIONS - NONCURRENT

Cost of resource reutilization Balance, beginning of the period Additions Balance, end of the period	June 30, 2025 $ 386,489	December 31, 2024 June 30, 2024 $ 377,107 $ 308,618 For the Six Months Ended June 30	December 31, 2024 June 30, 2024 $ 377,107 $ 308,618 For the Six Months Ended June 30	December 31, 2024 June 30, 2024 $ 377,107 $ 308,618 For the Six Months Ended June 30
			2025 $ 377,107 9,382 $ 386,489	2024 $ 306,146 2,472 $ 308,618

The provision for resource reutilization represents the amount of the best estimate for product promotion based on recent experience because the Corporation is required to settle obligations on the balance sheet date, which would be adjusted in accordance with relevant laws and regulations.

21. RETIREMENT BENEFIT PLANS

For the three months and six months ended June 30, 2025 and 2024, the pension expense of defined benefit plans were NT$755 thousand, NT$1,321 thousand, NT$1,511 thousand and NT$2,643 thousand, respectively, and these were calculated based on the pension cost rate determined by the actuarial calculation on December 31, 2024 and 2023, respectively.

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22. EQUITY

a. Ordinary shares

Number of shares authorized (in thousands of shares) Shares authorized Number of shares issued and fully paid (in thousands of shares) Shares issued	June 30, 2025 December 31, 2024 300,000 300,000 $ 3,000,000 $ 3,000,000 248,540 248,540 $ 2,485,404 $ 2,485,404	June 30, 2024 300,000
		$ 3,000,000
		248,540
		$ 2,485,404

Issued ordinary shares with par value of NT$10, carry one vote per share and the right to dividends.

b. Capital surplus

May be used to offset deficits, distribute as cash dividends, or transfer to share capital(Note1) Additional paid-in capital Consolidation excess Donations May only be used to offset deficits Changes in ownership interests in subsidiaries (Note 2) Changes in capital surplus from investments in associates accounted for using the equity method	June 30, 2025 December 31, 2024 $ 4,419 $ 4,419 157,497 157,497 108 108 374 374 - 13 $ 162,398 $ 162,411	June 30, 2024 $ 4,419 157,497 108 - - $ 162,024

Note 1: Such capital surplus may be used to offset a deficit; in addition, when the Corporation has no deficit, such capital surplus may be distributed as cash dividends or transferred to share capital (limited to a certain percentage of the Corporation’s capital surplus and to once a year).
Note 2: Such capital surplus arises from the effects of changes in ownership interests in subsidiaries resulting from equity transactions other than actual disposals or acquisitions or from changes in capital surplus of subsidiaries accounted for using the equity method.
c. Retained earnings and dividend policy

Under the dividend policy, where the Corporation made profit in a fiscal year, the profit shall be first utilized for paying taxes, offsetting losses of previous years, setting aside as legal reserve 10% of the remaining profit, setting aside or reversing special reserve in accordance with the laws and regulations, and then any remaining profit together with any undistributed retained earnings shall be used by the Corporation’s board of directors as the basis for proposing a distribution plan, which should be resolved

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in the shareholders’ meeting for distribution of dividends and bonuses to shareholders.

The Corporation is currently in a growing industry environment and the Corporation intends to take advantage of the economic environment to seek for a sustainable operation. The Corporation’s dividend policy is to focus on dividend stability and growth by referring to future operating conditions; also, the Corporation should distribute not less than 50% of distributable earnings, and cash dividend may not be less than 50% of the amount distributed.

Appropriation of earnings to legal reserve shall be made until the legal reserve equals the Corporation’s paid-in capital. The legal reserve may be used to offset deficit. If the Corporation has no deficit and the legal reserve has exceeded 25% of the Corporation’s paid-in capital, the excess may be transferred to capital or distributed in cash.

The appropriations of earnings for 2024 and 2023, which were approved in the shareholders’ meeting in June 2025 and 2024, respectively, were as follows:

Legal reserve Special reserve Cash dividends Cash dividends per share (NT$)	For the Year Ended December 31
	2024 2023 $ 118,762 $ 83,206 86,932 17,532 994,161 745,621 4.0 3.0

d. Other equity items
1) Exchange differences on translation of the financial statements of foreign operations

Balance, beginning of the period Recognized for the period Exchange differences on translating of the financial statements of foreign operations Share from associates accounted for using the equity method Balance, end of the period		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ (25,722) (93,235) (207) $ (119,164)	2024 $ (36,463) 5,203 (20) $ (31,280)

2) Unrealized valuation gains and losses on financial assets at fair value through other comprehensive income

Balance, beginning of the period Recognized for the period Unrealized loss - equity instruments Share from associates accounted for using the equity method Cumulative unrealized loss of equity instruments transferred to retained earnings due to disposal Balance, end of the period		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ (78,743) (10,996) (4,901) (1,018) $ (95,658)	2024 $ 18,973 (38,849) (7,889) (2,430) $ (30,195)

25 -

3) Gain (loss) on hedging instruments

Cash flow hedges

Balance, beginning of the period Recognized for the period Change in the fair value of hedging instrument - other comprehensive income Foreign currency risk- foreign deposits Balance, end of the period		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ - - $ -	2024 $ (42) 42 $ -

e. Non-controlling interests

Balance, beginning of the period Share of profit for the period Other comprehensive income (loss) for the period Exchange differences on translating of the financial statements of foreign operations Unrealized loss on financial assets at fair value through other comprehensive income Dividend distribution Balance, end of the period		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 240,103 10,660 (16,453) (111) (19,525) $ 214,674	2024 $ 226,615 11,882 918 (62) (12,476) $ 226,877

23. REVENUE

a. Contract balances

Notes receivable and accounts receivable (Note 8) Contract assets - current Construction contracts Sales retention receivables Less: Allowance for impairment loss	June 30, 2025 December 31, 2024 $ 1,499,187 $ 1,440,923 $ 1,037 $ - 256 308 - - $ 1,293 $ 308	June 30, 2024 $ 1,522,081 $ 1,484 331 - $ 1,815	January 1, 2024 $ 1,348,940 $ 1,348 334 - $ 1,682

(Continued)

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b. c.	Contract liabilities - current Sale received in advance Services received in advance Construction contracts Assets related to contract costs Current	June 30, 2025 $ 56,701 1,813 - $ 58,514	December 31, 2024 June 30, 2024 $ 44,052 $ 64,102 2,178 1,521 - 477 $ 46,230 $ 66,100 June 30, 2025 December 31, 2024 $ 14,441 $ 14,691	January 1, 2024 $ 55,846 478 477 $ 56,801 (Concluded) June 30, 2024 $ 16,828
	Cost to fulfil a contract Executing cost Disaggregation of revenue

Refer to Note 35 for information on the disaggregation of revenue.

24. PROFIT BEFORE INCOME TAX

a. Other income

Rental income Others b. Other gains and losses Net gain on financial assets at fair value through profit or loss Net gain (loss) on disposal of property, plant and equipment Net foreign exchange gain Others		For the Three Months Ended June 30 2025 2024 $ 7,540 $ 7,393 2,878 3,481 $ 10,418 $ 10,874 For the Three Months Ended June 30 2025 2024 $ 165 $ 125 (41) (195) 1,748 1,421 (1,383) (1,106) $ 489 $ 245		For the Six Months Ended June 30	For the Six Months Ended June 30
				2025 2024 $ 14,930 $ 14,914 4,843 6,493 $ 19,773 $ 21,407 For the Six Months Ended June 30
		2025 $ 165 (41) 1,748 (1,383) $ 489		2025 $ 389 86 2,365 (6,687) $ (3,847)	2024 $ 160 157 2,125 (2,506) $ (64)

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c. Finance costs

For the Three Months Ended June 30 2025 2024 Interest on borrowings $ 7,479 $ 10,283 Interest on lease liabilities 5,991 6,558 13,470 16,841 Less: Amounts included in the cost of qualifying assets 425 329 $ 13,045 $ 16,512 Information on capitalized interest was as follows: For the Three Months Ended June 30 2025 2024 Capitalized interest amounts $ 425 $ 329 Capitalization rates (%) 1.80-1.81 1.55-1.70 d. Depreciation and amortization For the Three Months Ended June 30 2025 2024 Property, plant and equipment $ 137,041 $ 128,168 Right-of-use assets 82,649 88,261 Investment properties 748 770 Intangible assets 1,019 1,156 Other noncurrent assets 5,582 4,999 $ 227,039 $ 223,354 An analysis of depreciation by function Operating costs $ 207,897 $ 205,658 Operating expenses 11,770 10,771 Others 771 770 $ 220,438 $ 217,199 An analysis of amortization by function Operating costs $ 5,633 $ 5,012 Operating expenses 968 1,143 $ 6,601 $ 6,155		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 2024 $ 16,556 $ 20,455 12,274 13,017 28,830 33,472 938 636 $ 27,892 $ 32,836 For the Six Months Ended June 30
		2025 2024 $ 938 $ 636 1.80-1.81 1.55-1.70 For the Six Months Ended June 30
		2025 $ 268,567 165,287 1,496 2,207 10,672 $ 448,229 $ 410,905 22,904 1,541 $ 435,350 $ 10,773 2,106 $ 12,879	2024 $ 258,593 179,421 1,517 2,309 10,723 $ 452,563 $ 416,355 21,636 1,540 $ 439,531 $ 10,754 2,278 $ 13,032

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e. Employee benefits expense

Short-term employee benefits Salaries Labor and health insurance Others Post-employment benefits Defined contribution plans Defined benefit plans (Note 21) Termination benefits Analysis of employee benefits expense by function Operating costs Operating expenses		For the Three Months Ended June 30 2025 2024 $ 160,353 $ 157,795 12,023 11,387 10,006 7,916 182,382 177,098 3,864 3,756 755 1,321 4,619 5,077 - - $ 187,001 $ 182,175 $ 118,082 $ 114,580 68,919 67,595 $ 187,001 $ 182,175		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 160,353 12,023 10,006 182,382 3,864 755 4,619 - $ 187,001 $ 118,082 68,919 $ 187,001		2025 $ 330,107 25,455 18,621 374,183 7,649 1,511 9,160 11 $ 383,354 $ 243,023 140,331 $ 383,354	2024 $ 320,095 24,556 15,626 360,277 7,458 2,643 10,101 - $ 370,378 $ 233,777 136,601 $ 370,378

f. Compensation of employees and remuneration of directors

The Corporation accrues compensation of employees and remuneration of directors at rates of no less than 0.1% and no higher than 1%, respectively, of net profit before income tax, compensation of employees and remuneration of directors.

In accordance with the amendments to the Securities and Exchange Act in August 2024, the shareholders of the Company had resolved the amendments to the Company’s Articles at their 2025 regular meeting, stipulating that no less than 30% of the total employee compensation shall be distributed to non-executive employees.

The compensation of employees (including non-executive employees) and remuneration of directors for the three months and six months ended June 30, 2025 and 2024, are as follows:

Compensation of employees Remuneration of directors	For the Three Months Ended June 30 2025 2024 $ 9,661 $ 12,292 1,932 2,458	For the Six Months Ended June 30
		2025 2024 $ 25,944 $ 23,911 5,189 4,782

If there is a change in the amounts after the annual consolidated financial statements are authorized for issue, the differences are recorded as a change in accounting estimate in the next year.

The appropriations of compensation of employees and remuneration of directors in cash for 2024 and 2023 which have been approved by the Corporation’s board of directors in February 2025 and 2024, respectively, were as follows:

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Compensation of employees Remuneration of directors	For the Year Ended December 31
	2024 2023 $ 47,672 $ 36,941 9,534 7,388

The actual amounts of the compensation of employees and remuneration of directors paid for 2024 and 2023 differ from the amounts recognized in the consolidated financial statements for the years ended December 31, 2024 and 2023, as follows:

Amounts approved in the board of directors’ meeting Amounts recognized in the annual consolidated financial statements	For the Year Ended December 31	For the Year Ended December 31
	2024 Compensation of Employees Remuneration of Directors $ 47,672 $ 9,534 $ 47,672 $ 9,534	2023
		Compensation of Employees Remuneration of Directors $ 36,941 $ 7,388 $ 36,941 $ 7,388

There is no difference between the amount recognized and approved in the consolidated financial statements for the year ended December 31, 2024 and 2023.

Information on the compensation of employees and remuneration of directors resolved by the Corporation’s board of directors is available at the Market Observation Post System website of the Taiwan Stock Exchange.

25. INCOME TAX

a. Income tax recognized in profit or loss

Major components of income tax expense were as follows:

Current tax In respect of the period Adjustment for prior year Deferred tax		For the Three Months Ended June 30 2025 2024 $ 90,008 $ 69,999 431 (4,702) 2,655 3,304 $ 93,094 $ 68,601		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 90,008 431 2,655 $ 93,094		2025 $ 164,288 431 12,864 $ 177,583	2024 $ 142,288 (4,702) 4,016 $ 141,602

b. Income tax assessments

The Corporation and its domestic subsidiaries’ income tax returns through 2023, have been assessed by the tax authorities. The foreign subsidiary calculated the tax in accordance with the local laws.

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26. EARNINGS PER SHARE

The net profit and weighted average number of ordinary shares outstanding in the computation of earnings per share were as follows:

Net profit for the period

Net profit attributable to owners of the Corporation		For the Three Months Ended June 30 2025 2024 $ 340,888 $ 292,398		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 340,888		2025 $ 671,000	2024 $ 585,130

Number of ordinary shares (in thousands of shares)

Weighted average number of ordinary shares used in computation of basic earnings per share Effects of potential dilutive ordinary shares: Compensation of employees Weighted average number of ordinary shares used in computation of diluted earnings per share		For the Three Months Ended June 30 2025 2024 248,540 248,540 345 363 248,885 248,903		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 248,540 345 248,885		2025 248,540 555 249,095	2024 248,540 560 249,100

The Corporation may settle the compensation of employees in cash or shares; therefore, the Corporation assumes that the entire amount of the compensation will be settled in shares, and the resulting potential shares are included in the weighted average number of shares outstanding used in the computation of diluted earnings per share, as the effect is dilutive. Such dilutive effect of the potential shares is included in the computation of diluted earnings per share until the number of shares to be distributed to employees is resolved in the following year.

27. CAPITAL MANAGEMENT

The Corporation and its subsidiaries manage its capital to ensure that entities in the Corporation and its subsidiaries will be able to continue as going concerns while maximizing the return to stakeholders through the optimization of the debt and equity balance.

The capital structure of the Corporation and its subsidiaries consist of net debt (borrowings offset by cash and cash equivalents) and equity attributable to owners of the Corporation (comprising issued capital, reserves, retained earnings, other equity).

The Corporation and its subsidiaries are not subject to any externally imposed capital requirements.

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28. FINANCIAL INSTRUMENTS

a. Fair value of financial instruments that are not measured at fair value

The management considers the carrying amounts of financial instruments that are not measured at fair value approximate their fair values.

b. Fair value of financial instruments measured at fair value on a recurring basis
1) Fair value hierarchy

June30,2025 Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Domestic and foreign unlisted shares December31,2024 Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Domestic and foreign unlisted shares June30,2024 Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Domestic and foreign unlisted shares	Level 1 $ 203,522 - $ 203,522 $ 212,724 - $ 212,724 $ 250,073 - $ 250,073	Level 2 $ - - $ - $ - - $ - $ - - $ -	Level 3 $ - 33,415 $ 33,415 $ - 35,320 $ 35,320 $ - 36,874 $ 36,874	Total $ 203,522 33,415 $ 236,937 $ 212,724 35,320 $ 248,044 $ 250,073 36,874 $ 286,947

There was no transfer between Level 1 and Level 2 for the six months ended June 30, 2025 and 2024.

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2) Reconciliation of Level 3 fair value measurements of financial assets

Financial assets at fair value through other comprehensiveincome (equityinstruments) Balance, beginning of the period Recognized in other comprehensive income Balance, end of the period		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 35,320 (1,905) $ 33,415	2024 $ 33,564 3,310 $ 36,874

3) Valuation techniques and inputs applied for Level 3 fair value measurement

The fair value of unlisted equity securities was determined based on industry types, valuations of similar companies and operations.

c. Categories of financial instruments

	June 30,	December 31,	December 31,		June 30,
	2025		2024		2024
Financialassets
Financial assets at fair value through other
comprehensive income - equity instruments $	236,937	$	248,044	$	286,947
Financial assets at amortized cost (Note 1)	2,464,986		2,334,620		2,400,924
Financial liabilities
Financial liabilities at amortized cost (Note 2)	2,402,689		3,119,648		3,232,740

Note 1: The balances included financial assets at amortized cost, which comprise cash and cash equivalents, notes and accounts receivable (including related parties), other receivables (including related parties), other financial assets and refundable deposits.
Note 2: The balances included financial liabilities at amortized cost, which comprise short-term borrowings, notes and accounts payable (including related parties), payables on equipment, other payables (including related parties), guarantee deposits received, refund liabilities (under other current liabilities) and long-term borrowings (including current portion).
d. Financial risk management objectives and policies

The Corporation and its subsidiaries place great emphasis on financial risk management. By tracking and managing the market risk, credit risk, and liquidity risk efficiently, the management ensured that the Corporation and its subsidiaries were equipped with sufficient and cost - efficient working capital, which reduced financial uncertainty that may have adverse effects on the operations.

The significant financial activities of the Corporation and its subsidiaries are reviewed by the board of directors in accordance with relevant regulations and internal controls. The finance department follows the accountability and related financial risk control procedures required by the Corporation and its subsidiaries for executing financial projects. Compliance with policies and exposure limits is continually reviewed by the internal auditors. The Corporation and its subsidiaries did not enter into or trade financial instruments for speculative purposes.

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1) Market risk

The Corporation and its subsidiaries’ activities exposed them primarily to financial risks as follows:

a) Foreign currency risk

The Corporation and its subsidiaries had sales in foreign currencies, which were exposed to foreign currency risk. Exchange rate exposures were managed within approved policy parameters utilizing were mitigated by future receivables and payables denominated in the same foreign currency.

The carrying amounts of the Corporation and its subsidiaries’ foreign currency denominated monetary assets and monetary liabilities at the end of the year are set out in Note 33.

Sensitivity analysis

The Corporation and its subsidiaries are mainly exposed to the USD and the JPY.

The 1% sensitivity rate is used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis included cash and cash equivalents, accounts receivable, other receivables, financial assets for hedging, accounts payable and other payables. If the foreign exchange rates of the New Taiwan dollar against the relevant currency had been 1% higher/lower, the amount of profit before income tax and equity for the six months ended June 30, 2025 and 2024 would have increased/decreased by NT$245 thousand and NT$321 thousand, respectively.

b) Interest rate risk

The carrying amounts of the Corporation and its subsidiaries’ financial assets and financial liabilities with exposure to interest rates at the balance sheet date were as follows:

		June 30,	December 31,	December 31,		June 30,
		2025		2024		2024
Fair value interest rate risk
Financial liabilities	$	1,124,534	$	1,275,929	$	1,370,668
Cash flow interest rate risk
Financial assets		622,817		544,115		550,570
Financial liabilities		1,122,969		1,749,820		1,791,214

The sensitivity analysis below was determined based on the Corporation and its subsidiaries’ exposure to interest rates for non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis was prepared assuming the amount of each liability outstanding at the end of the reporting period was outstanding for the whole year. 1% increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

If interest rates had been 1% higher/lower and all other variables were held constant, the Corporation and its subsidiaries’ cash flows for the six months ended June 30, 2025 and 2024 would have increased/decreased by NT$5,615 thousand and NT$8,956 thousand, respectively, which were mainly a result of variable-rate borrowings.

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c) Other price risk

The Corporation and its subsidiaries were exposed to equity price risk through its investments in listed equity securities, which are held for strategic rather than trading purposes, the Corporation and its subsidiaries do not actively trade these investments. The Corporation and its subsidiaries’ equity price risk is mainly concentrated in instruments of listed steel industry.

The sensitivity analysis below was determined based on the exposure to equity price risks at the end of the reporting period.

If equity prices had been 1% higher/lower, the pre-tax other comprehensive income for the six months ended June 30, 2025 and 2024 would have increased/decreased by NT$2,035 thousand and NT$2,501 thousand, respectively, as a result of the changes in fair value of financial assets at fair value through other comprehensive income.

2) Credit risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in a financial loss to the Corporation and its subsidiaries. At the end of the reporting period, the Corporation and its subsidiaries’ maximum exposure to credit risk, which would cause a financial loss to the Corporation and its subsidiaries due to the failure of the counterparty to discharge its obligation and due to the financial guarantees provided by the Corporation and its subsidiaries, could be equal mainly to the carrying amount of the respective recognized financial assets as stated in the consolidated balance sheets.

The adopted policies are only for transactions with creditworthy counterparty to obtain sufficient guarantees to mitigate the risk of financial losses arising from defaults. The Corporation and its subsidiaries use other publicly available financial information and mutual transaction records to evaluate major customers, and also continuously monitor credit risk and credit rating of counterparties and distribute the total transaction amount to qualified customers. The Corporation and its subsidiaries also control credit risk insurance by credit limit every year.

The Corporation and its subsidiaries’ concentrations of credit risk in the industries were as follows:

Cement industry Steel industry	June 30, 2025 $ 430,861 644,798 $ 1,075,659	December 31, 2024 $ 378,200 589,375 $ 967,575	June 30, 2024 $ 718,945 540,315 $ 1,259,260

3) Liquidity risk

The management of the Corporation and its subsidiaries continuously monitor the movement of cash flows, net cash position, significant capital expenditures and the utilization of bank loan commitments to ensure compliance with loan covenants.

As of June 30, 2025, the current liabilities of the Corporation and its subsidiaries exceeded current assets by NT$320,187 thousand. However, the Corporation and its subsidiaries’ operating profits were normal and had sufficient unutilized short-term and long-term bank financing lines; therefore, there was no liquidity risk.

The Corporation and its subsidiaries rely on bank borrowings as a significant source of liquidity. As of the balance sheet date, the Corporation and subsidiaries had available unutilized short-term and long-term bank loan facilities as set out in (b) below.

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a) Liquidity and interest rate risk tables for non-derivative financial liabilities

The following table details the Corporation and its subsidiaries’ remaining contractual maturities for its non-derivative financial liabilities with agreed upon repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities from the earliest date on which the Corporation and subsidiaries can be required to pay. The table includes both interest and principal cash flows. Specifically, bank loans with a repayment on demand clause were included in the earliest time band regardless of the probability of the banks choosing to exercise their rights. The maturity dates of other non-derivative financial liabilities were based on the agreed upon repayment dates.

To the extent that interest flows are at floating rates, the undiscounted amount was derived from the interest rate curve at the end of the reporting period.

June 30,2025 Non-interest bearing liabilities Variable interest rate instruments Lease liabilities	Less Than 1 Year $ 1,273,610 476,678 347,127 $ 2,097,415	Over 1 Years $ 6,110 680,998 894,212 $ 1,581,320	Total $ 1,279,720 1,157,676 1,241,339
			$ 3,678,735

Additional information on the maturity analysis for lease liabilities was as follows:

	Less Than 1
	Year		1-5 Years	Over 5 Years
Lease liabilities	$ 347,127		$ 619,488	$	274,724
	Less Than 1
	Year	Over 1 Years			Total
December31,2024
Non-interest bearing liabilities	$ 1,363,977	$	5,851	$	1,369,828
Variable interest rate instruments	434,680		1,380,221		1,814,901
Lease liabilities	361,748		1,041,183		1,402,931
	$ 2,160,405	$	2,427,255	$	4,587,660
Additional information on the maturity	analysis for lease	liabilities was as follows:
	Less Than 1
	Year		1-5 Years	Over 5 Years
Lease liabilities	$ 361,748		$ 755,184	$	285,999

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June30,2024 Non-interest bearing liabilities Variable interest rate instruments Lease liabilities	Less Than 1 Year $ 1,432,415 429,976 336,792 $ 2,199,183	Over 1 Years $ 9,111 1,432,824 1,168,709 $ 2,610,644	Total $ 1,441,526 1,862,800 1,505,501
			$ 4,809,827

Additional information on the maturity analysis for lease liabilities was as follows:

Less Than 1 Year Lease liabilities $ 336,792	1-5 Years Over 5 Years $ 871,436 $ 297,273

The amount included above for variable interest rate instruments for non-derivative financial liabilities is subject to change if changes in variable interest rates differ from those estimates of interest rates determined at the end of the reporting period.

b) Financing facilities

Unsecured bank facilities Amount used Amount unused Secured bank facilities Amount used Amount unused	June 30, 2025 $ 1,303,648 7,659,752 $ 8,963,400 $ 169,974 20,000 $ 189,974	December 31, 2024 $ 2,015,965 6,507,455 $ 8,523,420 $ 194,586 20,000 $ 214,586	June 30, 2024 $ 1,972,735 7,196,665
			$ 9,169,400
			$ 257,397 20,000
			$ 277,397

4) Cash flow hedges December 31, 2024

Line Items on the Balance Hedging Instrument Currency Amount Sheet Cash flow hedge hedging deposits JPY $ - Financial assets for hedging		Carrying Amount	Carrying Amount
		Asset $ -	Liability $ -

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Change in Fair Value of Hedged Items Used for Calculating Balance in Other Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ -

June 30, 2024

Line Items on the Balance Carrying Amount Hedging Instrument Currency Amount Sheet Asset Liability Cash flow hedge hedging deposits JPY $ - Financial assets for hedging $ - $ - Change in Fair Value of Hedged Items Used for Calculating Balance inOther Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ - For the six months Ended June 30, 2024 Amount reclassified to P/L and the Adjusted Line Item Effect on Comprehensive Income Hedging Gains (Losses) recognized in OCI Amount of Hedge Ineffectiveness Recognized in P/L Line Item in Which Hedge Ineffectiveness Is Included Due to Hedged Item Affecting P/L Due to Hedged Future Cash Flows No Longer Expected to Occur Cash flow hedge hedging deposits $ 42 $ - - $ - $ -		Carrying Amount
	Due to Hedged Item Affecting P/L Due to Hedged Future Cash Flows No Longer Expected to Occur $ - $ -

29. TRANSACTIONS WITH RELATED PARTIES

Balances and transactions between the Corporation and its subsidiaries, which are related parties of the Corporation, have been eliminated on consolidation and are not disclosed in this note. Besides information disclosed elsewhere in the other notes, details of transactions between the Corporation and its subsidiaries and other related parties are disclosed as follows:

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a. Related party name and category

Related Party Name

Related Party Category

China Steel Corporation (CSC) Chung Hung Steel Corporation (CHSC) Dragon Steel Corporation (DSC) United Steel Engineering & Construction Corporation (USECC) China Steel Resources Corporation (CSRC) China Steel Security Corporation (CSSC) China Steel Express Corporation (CSEC) Universal Exchange Inc. Steel Castle Technology Corporation China Steel Chemical Corporation China Ecotek Corporation InfoChamp Systems Corporation China Steel Structure Co., Ltd. C.S.Aluminium Corporation CSC Solar Corporation Thintech Materials Technology Co., Ltd. TCC Group Holdings Co., LTD. (TCC) Asia Cement Corporation (ACC) Universal Cement Corporation Southeast Cement Corporation Taiwan Transport & Storage Corporation (TTSC)

Nan-Hwa Cement Corporation (NHCC)

Ta-Ho Maritime Corporation Ya Tung Ready Mixed Concrete Co., Ltd. Ya Sing Ready Mixed Concrete Corp. Universal Cement Concrete Corporation Ya Li Transportation Corporation (YL) Southeast Topgood Resources Recycling Co., Ltd. Formosa Ha Tinh Steel Corporation (FHSC)

Parent of the Corporation Fellow subsidiary Fellow subsidiary Fellow subsidiary

Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Director of the Corporation Director of the Corporation Director of the Corporation Director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Subsidiary of director of the Corporation Other related party

b. Operating revenue

Related Parties Account Items Category/Names Sales Parent entity - CSC Fellow subsidiaries Directors and its subsidiaries TCC Others		For the Three Months Ended June 30 2025 2024 $ 34,231 $ 41,947 42,248 11,622 227,931 226,395 253,386 241,796 $ 557,796 $ 521,760		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 34,231 42,248 227,931 253,386 $ 557,796		2025 $ 73,025 69,651 431,753 458,562 $ 1,032,991	2024 $ 81,563 22,561 436,153 465,333 $ 1,005,610

(Continued)

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Related Parties Account Items Category/Names Service revenue Parent entity - CSC Fellow subsidiaries DSC CSRC Others Directors and its subsidiaries Other related parties Construction contract revenue Fellow subsidiaries - CSRC		For the Three Months Ended June 30 2025 2024 $ 732,604 $ 752,484 427,283 402,661 180,522 187,328 298 623 45,540 43,856 53,338 52,810 $ 1,439,585 $ 1,439,762 $ 2,138 $ 2,723		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 732,604 427,283 180,522 298 45,540 53,338 $ 1,439,585 $ 2,138		2025 $ 1,422,126 853,133 360,773 600 87,773 115,070 $ 2,839,475 $ 5,302	2024 $ 1,275,521 701,183 345,251 1,191 85,216 98,435 $ 2,506,797 $ 7,729

(Concluded)

The prices at which the Corporation and its subsidiaries sell goods, provide services, and perform engineering work to related parties are generally not comparable to those with non-related parties due to the lack of similar transactions. However, the sales prices of GGBFS to directors and their subsidiaries did not differ materially from those with non-related parties. The collection terms for both related and non-related parties are mutually agreed upon by the Corporation and its subsidiaries.

c. Purchase of goods

Related Parties Category/Names Parent entity - CSC Fellow subsidiaries DSC Others Directors and its subsidiaries Others - FHSC		For the Three Months Ended June 30 2025 2024 $ 202,429 $ 213,901 63,073 98,960 164,210 151,409 133,529 111,707 103,896 130,011 $ 667,137 $ 705,988		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 202,429 63,073 164,210 133,529 103,896 $ 667,137		2025 $ 401,960 152,088 266,890 280,896 225,024 $ 1,326,858	2024 $ 396,868 189,354 263,740 222,626 242,363 $ 1,314,951

Purchases of cement from directors and their subsidiaries were made at arm’s length and were consistent with similar market transactions. Other transactions did not involve non-related parties for comparison. The payment terms between the Corporation and its subsidiaries and both related and non-related parties were mutually agreed upon.

d. Contract assets - current

Related Parties Category/Names Parent entity - CSC Fellow subsidiaries - CSRC	June 30, 2025 December 31, 2024 $ - $ - 1,037 - $ 1,037 $ -	June 30, 2024 $ 137 - $ 137

For the six months ended June 30, 2025 and 2024, no impairment loss was recognized for contract assets from related parties.

40 -

e. Contract liabilities - current

Related Parties Category June 30, 2025 December 31, 2024 June 30, 2024 Directors and its subsidiaries $ 1,608 $ 1,255 $ - f. Other material transactions with related parties For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 1) Operating lease Rental income Parent entity - CSC $ 7,251 $ 7,249 $ 14,501 $ 14,497 2) Security expense Fellow subsidiary - CSSC 12,311 11,790 24,699 23,730 3) Outsourced manufacturing expense Subsidiary of director - NHCC 31,760 26,355 70,420 50,602 4) Charges for handling service and freight Fellow subsidiary CSEC 191,506 224,986 392,672 236,859 USECC 10,865 13,920 23,536 26,047 Subsidiary of director YL 69,345 51,573 129,633 110,225 TTSC 9,363 14,364 18,216 27,835 5) Other professional service expense Director - ACC 30,953 26,854 52,883 61,017	Related Parties Category June 30, 2025 December 31, 2024 June 30, 2024 Directors and its subsidiaries $ 1,608 $ 1,255 $ - f. Other material transactions with related parties For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 1) Operating lease Rental income Parent entity - CSC $ 7,251 $ 7,249 $ 14,501 $ 14,497 2) Security expense Fellow subsidiary - CSSC 12,311 11,790 24,699 23,730 3) Outsourced manufacturing expense Subsidiary of director - NHCC 31,760 26,355 70,420 50,602 4) Charges for handling service and freight Fellow subsidiary CSEC 191,506 224,986 392,672 236,859 USECC 10,865 13,920 23,536 26,047 Subsidiary of director YL 69,345 51,573 129,633 110,225 TTSC 9,363 14,364 18,216 27,835 5) Other professional service expense Director - ACC 30,953 26,854 52,883 61,017	Related Parties Category June 30, 2025 December 31, 2024 June 30, 2024 Directors and its subsidiaries $ 1,608 $ 1,255 $ - f. Other material transactions with related parties For the Three Months Ended June 30 For the Six Months Ended June 30 2025 2024 2025 2024 1) Operating lease Rental income Parent entity - CSC $ 7,251 $ 7,249 $ 14,501 $ 14,497 2) Security expense Fellow subsidiary - CSSC 12,311 11,790 24,699 23,730 3) Outsourced manufacturing expense Subsidiary of director - NHCC 31,760 26,355 70,420 50,602 4) Charges for handling service and freight Fellow subsidiary CSEC 191,506 224,986 392,672 236,859 USECC 10,865 13,920 23,536 26,047 Subsidiary of director YL 69,345 51,573 129,633 110,225 TTSC 9,363 14,364 18,216 27,835 5) Other professional service expense Director - ACC 30,953 26,854 52,883 61,017
		2025 2024 $ 14,501 $ 14,497 24,699 23,730 70,420 50,602 392,672 236,859 23,536 26,047 129,633 110,225 18,216 27,835 52,883 61,017

The above transaction prices, collection and payment term are agreed upon by both parties.

g. Accounts receivable - related parties

Related Parties Category/Names Parent entity - CSC Fellow subsidiaries DSC Others Directors and its subsidiaries TCC Others Others related parties	June 30, 2025 December 31, 2024 $ 396,109 $ 344,230 195,813 209,504 73,341 67,675 178,551 190,025 112,205 90,970 18,836 23,912 $ 974,855 $ 926,316	June 30, 2024 $ 272,476 241,694 134,404 278,348 111,955 24,858 $1,063,735

41 -

The outstanding receivables from related parties are unsecured. For the six months ended June 30, 2025 and 2024, no impairment losses were recognized for trade receivables from related parties.

h. Other receivables - related parties

Related Parties Category/Name Parent entity - CSC Fellow subsidiaries Other related parties Accounts payable - related parties Related Parties Category/Names Parent entity - CSC Fellow subsidiaries CHSC Others Directors and its subsidiaries	June 30, 2025 December 31, 2024 $ 30,500 $ 38,053 - 1 - - $ 30,500 $ 38,054 June 30, 2025 December 31, 2024 $ 12,271 $ 12,803 16,890 20,485 12,063 18,882 32,139 50,989 $ 73,363 $ 103,159	June 30, 2024 $ 35,477 - 787 $ 36,264 June 30, 2024 $ 8,745 24,588 8,446 37,294 $ 79,073

i. Accounts payable - related parties

The outstanding accounts payable to related parties are unsecured.

j. Other payables - related parties

Related Parties Category/Name Parent entity - CSC Fellow subsidiaries Directors and its subsidiaries Other related parties Prepayments Related Parties Category/Names Parent entity - CSC Fellow subsidiaries Directors and its subsidiaries Other related parties - FHSC	June 30, 2025 December 31, 2024 $ 5,433 $ 3,338 93,835 107,168 68,747 67,485 518 606 $ 168,533 $ 178,597 June 30, 2025 December 31, 2024 $ 1,328 $ 1,328 465 - - - 6,961 22,365 $ 8,754 $ 23,693	June 30, 2024 $ 4,057 93,175 64,679 1,085 $ 162,996 June 30, 2024 $ 1,328 2,040 2,244 7,502 $ 13,114

k. Prepayments
42 -
l. Acquisition of property, plant and equipment

Purchase Price For the Six Months Ended June 30 Related Parties Category/Name 2025 2024 Fellow subsidiaries $ - $ 258 Lease arrangements Account Item Related Parties Category/Name June 30, 2025 December 31, 2024 June 30, 2024 Lease liabilities Parent entity - CSC $ 25,001 $ 33,971 $ 43,599 Related Parties For the Three Months Ended June 30 For the Six Months Ended June 30 Category/Names 2025 2024 2025 2024 Interest expense Parent entity - CSC $ 120 $ 185 $ 257 $ 384 Lease expense Parent entity - CSC $ 894 $ 385 $ 1,316 $ 749 Fellow subsidiaries 12 7 12 13 Other related parties 134 144 280 289 $ 1,040 $ 536 $ 1,608 $ 1,051			Purchase Price	Purchase Price
			For the Six Months Ended June 30

			2025 $ 257 $ 1,316 12 280 $ 1,608	2024 $ 384 $ 749 13 289 $ 1,051

m. Lease arrangements
n. Remuneration of key management personnel

The remuneration of directors and other members of key management personnel was as follows:

Short-term employee benefits (including salaries, remuneration and bonus) Post-employment benefits		For the Three Months Ended June 30 2025 2024 $ 7,860 $ 7,892 72 166 $ 7,932 $ 8,058		For the Six Months Ended June 30	For the Six Months Ended June 30
		2025 $ 7,860 72 $ 7,932		2025 $ 18,120 139 $ 18,259	2024 $ 15,486 331 $ 15,817

30. ASSETS PLEDGED AS COLLATERAL OR FOR SECURITY

The following assets were provided as collateral for performance guarantees, bank overdrafts and bank borrowing as follows:

43 -

Pledged time deposits (under other financial assets) Property, plant and equipment Land Buildings Machinery and equipment Right-of-use assets Land	June 30, 2025 December 31, 2024 $ 13,418 $ 11,102 40,172 40,172 192,078 224,793 369,901 436,293 114,365 133,451 $ 729,934 $ 845,811	June 30, 2024 $ 11,102 40,172 227,623 445,575 134,901 $ 859,373

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

Significant contingencies of the Corporation and its subsidiaries as of June 30, 2025 were as follows:

a. Unused letters of credit for importation of materials amounted to NT$285,114 thousand.
b. The Corporation provided performance bond of NT$65,540 thousand guaranteed by financial institutions.
c. To expand the production line, the Corporation entered into the construction contracts amounted to NT$741,937 thousand, which have not been recorded yet.

32. Others

In February 2025, the Corporation received an indictment from the Kaohsiung District Prosecutors Office, accusing that relevant personnel of the Corporation’s Transportation Department breached the Water Pollution Control Act and others, enabling the Company to obtain benefits such as underpayment of sewage treatment fees amounting to approximately NT$116 million. The Kaohsiung District Prosecutors Office filed a public prosecution, and the case is currently being tried by the Kaohsiung District Court. The Corporation has doubts about the alleged amount of underpayment of sewage treatment fees and has filed an appeal.

Regarding the aforementioned case, the Kaohsiung District Court ordered a provisional attachment on the Corporation’s land located at No. 1310, Erciao Section, Xiaogang District, Kaohsiung City, within the value of approximately NT$128 million. The Company filed an appeal against the attachment order, which was dismissed by the court in March 2025.

The Corporation assesses that the above matters have no significant impact on its operations and finances.

33. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

The Corporation and its subsidiaries’ significant financial assets and liabilities denominated in foreign currencies aggregated by the foreign currencies other than functional currencies of the entities in the Corporation and its subsidiaries and the related exchange rates between the foreign currencies and the respective functional currencies were as follows:

44 -

					Carrying
					Amount
		Foreign		(In Thousands
		Currencies		of	New Taiwan
	(In Thousands)		Exchange Rate		Dollars)
June30,2025
Monetary financial assets
USD	$	1,177	29.3	$	34,485
JPY		18,226	0.2034		3,707
Non-monetary financial assets
Financial assets at fair value through other
comprehensive income
CNY		4,132	4.091		16,905
Investments accounted for using the equity
method
VND		581,517,647	0.001105		642,577
Monetary financial liabilities
USD		468	29.3		13,698
December31,2024
Monetary financial assets
USD		1,871	32.785		61,339
JPY		22,244	0.2099		4,669
Non-monetary financial assets
Financial assets at fair value through other
comprehensive income
CNY		4,068	4.478		18,218
Investments accounted for using the equity
method
VND		581,069,565	0.001265		735,053
Monetary financial liabilities
USD		345	32.785		11,311
June30,2024
Monetary financial assets
USD		1,051	32.45		34,113
JPY		8,739	0.2017		1,763
Non-monetary financial assets
Financial assets at fair value through other
comprehensive income
CNY		4,000	4.445		17,778
Investments accounted for using the equity
method
VND		552,638,247	0.001255		693,561
Monetary financial liabilities
USD		115	32.45		3,739

45 -

34. SEPARATELY DISCLOSED ITEMS

a. Information on significant transactions
1) Financing provided to others: None
2) Endorsements/guarantees provided: None
3) Significant marketable securities held (excluding investments in subsidiaries and associates): Table 1
4) Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital: Table 2
5) Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital: Table 3
6) Intercompany relationships and significant intercompany transactions: Table 4
b. Information on investees: Table 5
c. Information on investments in mainland China
1) Information on any investee company in mainland China, showing the name, principal business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, net income (loss) of the investees, investment gain (loss), carrying amount of the investment at the end of the period, repatriations of investment income, and limit on the amount of investment in the mainland China areas: None
2) Any of the following significant transactions with investee companies in mainland China, either directly or indirectly through a third party, and their prices and payment terms, and unrealized gains or losses:
- a) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period: None
- b) The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period: None
- c) The amount of property transactions and the amount of the resultant gains or losses: None
- d) The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes: None
- e) The highest balance, the end of period balance and the interest rate range with respect to financing of funds: None
- f) Other transactions that have a material effect on the profit or loss for the year or on the financial position, such as the rendering or receipt of services: None

35. SEGMENT INFORMATION

Information reported to the chief operating decision maker for the purposes of resource allocation and assessment of segment performance focuses on the types of goods or services delivered or provided.

46 -

Reported segments of the Corporation and its subsidiaries were as follows:

‧ Blast-Furnace Slag Cement Division - production and marketing of Blast-Furnace Slag Cement products from the Corporation and CHC Resources Vietnam Co., Ltd.
‧ Resource Reutilization Division - disposal of waste, reutilization of resources and remediation, etc.
‧ Others - Union Steel Development Corporation (manufacture and sale of iron powder, OEM and sales of refractory, trading, human dispatch), Pao Good Industrial Co., Ltd. (sales of fly ash, manufacture and sales of dry-mix mortar, trading) and Yu Cheng Lime Corporation (real estate lease and management of raw materials).

Segment revenue and results

The details of the Corporation and its subsidiaries’ reporting segments were as follows:

Blast-Furnace Slag Cement Division Resource Reutilization Division For the Six months June 30,2025 Revenue from external customers $ 4,071,628 $ 2,911,879 Inter segment revenue 55,694 11,509 Segment revenue $ 4,127,322 $ 2,923,388 Eliminations Consolidated revenue Segment income $ 920,486 $ 163,222 Operating expense Share of profit of associates accounted for using the equity method Other non-operating gains and losses Profit before income tax For the Six months June 30,2024 Revenue from external customers $ 3,514,322 $ 2,617,871 Inter segment revenue 138,043 11,696 Segment revenue $ 3,652,365 $ 2,629,567 Eliminations Consolidated revenue Segment income $ 782,643 $ 154,018 Operating expense Share of profit of associates accounted for using the equity method Other non-operating gains and losses Profit before income tax	Others $ 160,462 142,693 $ 303,155 $ 34,941 $ 187,438 182,649 $ 370,087 $ 60,699	Total $ 7,143,969 209,896 7,353,865 (209,896) $ 7,143,969 $ 1,118,649 (258,655) 7,589 (8,340) $ 859,243 $ 6,319,631 332,388 6,652,019 (332,388) $ 6,319,631 $ 997,360 (253,194) 2,499 (8,051) $ 738,614

47 -

Segment income represented the profit before tax earned by each segment without administration costs and directors’ salaries, share of profit of associates, rental revenue, interest income, gains or losses on disposal of property, plant and equipment, exchange gains or losses, valuation gains or losses on financial instruments, finance costs and income tax expense. This was the measure reported to the chief operating decision maker for the purpose of resource allocation and assessment of segment performance.

48 -

TABLE 1

CHC RESOURCES CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD JUNE 30, 2025

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Holding Company Name	Type and Name	of Marketable Securities	Relationship with The Holding Company	Financial Statement Account		JUNE 30,	JUNE 30,	2025		Note
					Shares/Units	Carrying Value		Percentage of Ownership (%)	Fair Value
CHC Resources Corporation CHC Resources Corporation Union Steel Development Corporation Union Steel Development Corporation	Ordinary shares Ordinary shares Ordinary shares Ordinary shares	China Steel Corporation Feng Sheng Enterprise Corporation China Steel Corporation Shanghai Bao Shun Steel Corporation	Parent company No relationship Ultimate parent company The holding company as its director	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent	10,401,806 932,053 423,849 Certificate of rights		$ 195,554 $ 16,510 $ 7,968 $ 16,905	- 2 - 19	$ 195,554 $ 16,510 $ 7,968 $ 16,905

49 -

TABLE 2

CHC RESOURCES CORPORATION AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL FOR THE SIX MONTHS ENDED JUNE 30, 2025

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation Union Steel Development Corporation CHC Resources Vietnam Co., Ltd.	TCC Group Holdings Co., LTD. Ya Tung Ready Mixed Concrete Co., Ltd. Universal Cement Corporation China Steel Corporation Dragon Steel Corporation China Steel Resources Corporation China Steel Corporation Dragon Steel Corporation Asia Cement Corporation Chung Hung Steel Corporation CHC Resources Corporation Formosa Ha Tinh Steel Corporation Formosa Ha Tinh Steel Corporation	Director of the Corporation Subsidiary of director of the Corporation Director of the Corporation Parent company Fellow subsidiary Fellow subsidiary Parent company Fellow subsidiary Direct of the Corporation Fellow subsidiary Parent company Other related party Other related party	Sales Sales Sales Service revenue Service revenue Service revenue Purchases Purchases Purchases Purchases Service revenue Service revenue Purchases	$ (431,753 ) (279,987 ) (114,246 ) (1,422,126 ) (853,133 ) (360,773 ) 401,960 152,088 117,317 105,608 (133,647 ) (115,070 ) 225,024	(7 ) (4 ) (2 ) (22 ) (13 ) (6 ) 20 8 6 5 (66 ) (17 ) 97	Open account 60 days Open account 60 days Open account 60 days Receivables were collected after final acceptance Receivables were collected after final acceptance Receivables were collected after final acceptance Letter of credit Letter of credit 45 days after B/L Letter of credit According to the contract Net 10 days from invoice date Prepaid before shipping	Note Note Note Note Note Note Note Note Note Note Note Note Note	Note Note Note Note Note Note Note Note Note Note Note Note Note	$ 178,551 81,643 10,417 384,844 193,369 61,513 (12,271 ) (3,287 ) (10,793 ) (16,890 ) 28,474 18,836 -	13 6 1 28 14 4 (4 ) (1 ) (4 ) (6 ) 71 25 -

Note: Refer to Note 29.

50 -

TABLE 3

CHC RESOURCES CORPORATION AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL JUNE 30, 2025

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Ending Balance	Turnover Rate	Overdue	Overdue	Amount Received in Subsequent Period	Allowance for Impairment Loss
					Amount	Actions Taken
CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation	China Steel Corporation Dragon Steel Corporation TCC Group Holdings Co., LTD.	Parent company Fellow subsidiary Director of the Corporation	$ 384,844 193,369 178,551	8 9 5	$ 4,169 - -	Expected to be collected before the end of July - -	$ 25,009 5,567 -	$ - - -

51 -

TABLE 4

CHC RESOURCES CORPORATION AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT INTERCOMPANY TRANSACTIONS FOR THE SIX MONTHS ENDED JUNE 30, 2025

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No.	Investee Company	Counterparty	Relationship		Transaction Details	Transaction Details	% of Total Operating Revenue or Assets
				Financial Statement Accounts	Amount	Payment Terms
1	Union Steel Development Corporation	CHC Resources Corporation	Subsidiary to parent Company	Service revenue	$ 133,647	According to the contract	2

52 -

TABLE 5

CHC RESOURCES CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES FOR THE SIX MONTHS ENDED JUNE 30, 2025 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount		As of June 3	0, 2025	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				June 30, 2025	December 31, 2024
CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation	CHC Resources Vietnam Co., Ltd Yu Cheng Lime Corporation Union Steel Development Corporation Pao Good Industrial Co., Ltd. Hsin Hsin Cement Enterprise Corporation Pro-Ascentek Investment Corporation Gau Ruei Investment Corporation Eminent III Venture Capital Corporation Ding Da Investment Corporation Sheng Lih Dar Investment Corporation Shin Mau Investment Corporation Jiing-Cherng-Fa Investment Corporation HIMAG Magnetic Corporation	Vietnam Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China	Manufacture and sale of Ground-Granulated Blast-Furnace Slag, Sales of Granulated Blast-Furnace Slag Real estate lease, management of raw materials Manufacture and sale of iron powder, OEM and sales of refractory, trading, human dispatch Sales of fly ash, manufacture and sales of dry-mix mortar, trading Cement manufacturing, nonmetallic mining, cement and concrete mixing manufacturing General investment General investment General investment General investment General investment General investment General investment Production and sale of industrial magnetic, chemical, and iron oxides	$ 647,338 126,010 53,345 50,937 73,269 30,000 12,306 30,000 12,516 9,600 10,316 9,200 10,970	$ 647,338 126,010 53,345 50,937 73,269 30,000 12,306 30,000 12,516 9,600 10,316 9,200 10,970	- 108,000 4,668,333 5,408,550 9,298,583 3,000,000 1,046,500 3,000,000 1,196,000 960,000 897,000 920,000 716,938	85 90 93 51 10 3 35 2 40 40 30 40 2	$ 642,577 140,903 86,540 84,720 129,740 31,936 21,137 18,436 18,277 16,647 15,469 14,251 9,297	$ 61,643 1,615 12,541 2,920 58,938 11,177 (121 ) (65,032 ) 740 1,402 1,940 523 7,052	$ 53,408 1,431 11,714 1,489 5,987 947 (42 ) (1,077 ) 296 561 582 209 126	Subsidiary (Note 1) Subsidiary (Note 1) Subsidiary (Note 1) Subsidiary (Note 1) Note 2

Note1: The amount was eliminated in the consolidated financial statements.

Note2: The share of profit included amortization of the difference between equity and carrying amounts of the investment.

53 -

TABLE 6

CHC RESOURCES CORPORATION AND SUBSIDIARIES

STATEMENT OF PROPERTY, PLANT AND EQUIPMENT FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (In Thousands of New Taiwan Dollars)

For the six months ended June 30, 2025

Cost Balance at January 1, 2025 Additions Disposals Effects of foreign currency exchange differences Balance at June 30, 2025 Accumulated depreciationandimpairment Balance at January 1, 2025 Depreciation expense Disposals Effects of foreign currency exchange differences Balance at June 30, 2025 Carrying amount at December 31, 2024 Carrying amount at June 30, 2025 For the six months ended June 30, 2024 Cost Balance at January 1, 2024 Additions Disposals Effects of foreign currency exchange differences Balance at June 30, 2024	Land $ 1,136,268 - - - $ 1,136,268 $ 6,370 - - - $ 6,370 $ 1,129,898 $ 1,129,898 Land $ 1,136,268 - - - $ 1,136,268	Land Improvement $ 224,453 - - (9,330) $ 215,123 $ 160,198 9,268 - (6,881) $ 162,585 $ 64,255 $ 52,538 Land Improvement $ 218,141 2,490 - 582 $ 221,213	Building Machinery and Equipment Transportation Equipment $ 2,850,572 $ 6,445,801 $ 18,645 18,392 101,565 1,668 (28,692) (70,723) (1,241) (32,301) (73,742) (227) $ 2,807,971 $ 6,402,901 $ 18,845 $ 1,299,903 $ 5,149,443 $ 18,146 50,058 136,913 362 (28,692) (70,723) (1,241) (4,577) (12,947) (130) $ 1,316,692 $ 5,202,686 $ 17,137 $ 1,550,669 $ 1,296,358 $ 499 $ 1,491,279 $ 1,200,215 $ 1,708 Building Machinery and Equipment Transportation Equipment $ 2,807,783 $ 6,313,806 $ 18,657 22,483 66,989 - - (16,249) - 2,019 4,508 15 $ 2,832,285 $ 6,369,054 $ 18,672	Office Equipment $ 71,043 2,400 (246) (755) $ 72,442 $ 50,189 3,968 (210) (560) $ 53,387 $ 20,854 $ 19,055 Office Equipment $ 68,663 626 - 47 $ 69,336	Leasehold Improvement $ 1,163,839 5,590 - - $ 1,169,429 $ 777,461 67,998 - - $ 845,459 $ 386,378 $ 323,970 Leasehold Improvement $ 1,137,468 1,953 - - $ 1,139,421	Other Equipment Property under Construction $ 360 $ 113,340 - (28,444) - - - - $ 360 $ 84,896 $ 360 $ - - - - - - - $ 360 $ - $ - $ 113,340 $ - $ 84,896 Other Equipment Property under Construction $ 360 $ 64,269 - 17,732 - - - - $ 360 $ 82,001	Total $ 12,024,321 101,171 (100,902) (116,355) $ 11,908,235 $ 7,462,070 268,567 (100,866) (25,095) $ 7,604,676 $ 4,562,251 $ 4,303,559 Total $ 11,765,415 112,273 (16,249) 7,171 $ 11,868,610

(Continued)

54 -

Accumulated depreciationandimpairment Balance at January 1, 2024 Depreciation expense Disposals Impairment loss Effects of foreign currency exchange differences Balance at June 30, 2024 Carrying amount at June 30, 2024	Land $ 6,370 - - - - $ 6,370 $ 1,129,898	Land Improvement $ 140,062 10,064 - - 322 $ 150,448 $ 70,765	Building Machinery and Equipment Transportation Equipment $ 1,183,072 $ 4,886,883 $ 17,554 46,722 129,118 340 - (16,025) - 20,730 28,811 - 165 481 11 $ 1,250,689 $ 5,029,268 $ 17,905 $ 1,581,596 $ 1,339,786 $ 767	Office Equipment $ 41,587 4,360 - - 25 $ 45,972 $ 23,364	Leasehold Improvement $ 646,914 67,989 - - - $ 714,903 $ 424,518	Other Equipment Property under Construction $ 360 $ - - - - - - - - - $ 360 $ - $ - $ 82,001	Total $ 6,922,802 258,593 (16,025) 49,541 1,004 $ 7,215,915 $ 4,652,695 (Concluded)

55 -

AI assistant

CHC — Interim / Quarterly Report 2026

52793_rns_2026-04-28_9c029222-a238-4516-b657-eeb9c23554c1.pdf

CHC Resources Corporation and Subsidiaries

INDEPENDENT AUDITORS’ REVIEW REPORT

Introduction

Scope of Review

Conclusion

Notice to Readers

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

IFRS 18 “Presentation and Disclosure in Financial Statements”

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

d. Other material accounting policies

1) Carbon fee provision

2) Retirement benefits

3) Income tax expense

5. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

6. CASH AND CASH EQUIVALENTS

7. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

8. NOTES RECEIVABLE AND ACCOUNTS RECEIVABLE (INCLUDING RELATED PARTIES)

June 30, 2025

9. INVENTORIES

10. PREPAYMENT

11. OTHER FINANCIAL ASSETS

12. SUBSIDIARIES

13. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

14. PROPERTY, PLANT AND EQUIPMENT

15. LEASE ARRANGEMENTS

4) Land use right

d. Other lease information

16. INVESTMENT PROPERTIES

17. INTANGIBLE ASSETS

18. BORROWINGS

19. OTHER PAYABLES (INCLUDING RELATED PARTIES)

20. PROVISIONS - NONCURRENT

21. RETIREMENT BENEFIT PLANS

22. EQUITY

a. Ordinary shares

b. Capital surplus

3) Gain (loss) on hedging instruments

23. REVENUE

24. PROFIT BEFORE INCOME TAX

c. Finance costs

e. Employee benefits expense

25. INCOME TAX

b. Income tax assessments

26. EARNINGS PER SHARE

Net profit for the period

27. CAPITAL MANAGEMENT

28. FINANCIAL INSTRUMENTS

1) Market risk

a) Foreign currency risk

Sensitivity analysis

b) Interest rate risk

c) Other price risk

2) Credit risk

3) Liquidity risk

29. TRANSACTIONS WITH RELATED PARTIES

Related Party Name

Related Party Category

c. Purchase of goods

e. Contract liabilities - current

CHC Interim / Quarterly Report 2026